Independent journal on economy and transport policy
08:39 GMT+2
MARAD WILL TERMINATE LYKES' ODS AGREEMENT
(World Wide Shipper)
July 14, 1997
WASHINGTON, D.C. -- The Maritime Subsidy Board has agreed to terminate Lykes Bros. Steamship Co., Inc.'s operating-differential subsidy (ODS) agreement as of the effective date of Lykes Reorganization Plan under Chapter 11 of the Bankruptcy Code. In seeking the Board's approval, Lykes noted that its request to terminate its ODS agreement is without prejudice to their or Sea Crews II, Inc.'s right to request reinstatement ...... Read more on World Wide Shipper
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