Menu JTA Search

Ampal Invests $10,800,000 in Cargo Ships; First Vessel Launched

SIGN UP FOR THE JTA DAILY BRIEFING

The first of four 7, 200 deadweight ton cargo motor ships financed by the AMPAL American Israel Corporation was launched at Nantes, France, this weekend. The new vessel, designed to carry citrus fruit and general cargo was named “HADAR” by Mrs. Louis Ludwig, wife of a prominent New York businessman and a vice-president of AMPAL.

Launching ceremonies were attended by the Israel Ambassador to France, Walter Eytan, and the secretary-general of the French Merchant Marine, as well as by officials of the Zim Lines of Israel, which will operate the four ships under long-term charter from AMPAL.

Ambassador Eytan praised AMPAL for its investment in the development of Israel’s merchant fleet. He recalled the pioneering role AMPAL had played in the establishment of Israel’s commercial navigation and the millions invested by the AMPAL group in the continued expansion of the Zim fleet of merchant vessels.

The new “Hadar” and her three sister ships which will be launched later this year represent an investment of $10, 800,000. The four ships will be chartered to the Zim Lines by AMPAL for a period of 20 years, after which they will be owned in equal shares by the two companies.

On July 2, participants in this newest project of AMPAL will be honored at a reception aboard t e Zim passenger liner “Zion” during one of her frequent visits to New York City.

NEXT STORY