MARAD DELAYS DISPOSAL OF LNG TANKERS
The U.S. Maritime Administration has declined to sell three LNG tankers to Cabot LNG Corp. for $15 million each. Marad earlier refused to sell the tankers to Argent Marine Services Inc., a Shell International Petroleum Co. subsidiary, because the company is not U.S. controlled (OGJ, Mar. 19, p. 18). Marad said it rejected Cabot's bid because it cannot dispose of the vessels until Apr. 5. At that time, it expects to offer them for bids again.