Rodriquez delivers towboat to Mid-River Terminal
MARCH 26, 2016–Mid-River Terminals of Osceola, AR, recently took delivery of a new design towboat from Rodriguez Shipbuilding, Coden, AL. With a conventional forward-house pusher configuration, the new 70 ft x 30 ft M/V Dianna Lynn uses the same propulsion as the Lugger tugs. This is composed of three in-line six-cylinder Cummins QSK 19 engines, each delivering 660 hp. Each engine turns a 66-inch stainless steel propeller through ZF gears with 6:1 reduction ratio. The combination gives the 1,980 hp towboat an eight-foot operating draft.
Fitted with large windows, the wheelhouse has a full 360-degree view with and is set atop two accommodation decks and a half deck that also serves for bridge electronics support. This gives the towboat a 31-foot high eye-level, with full tanks, for working high barges.
Steering and flanking rudders are controlled by wheelhouse levers with mechanical shafts through the houses and are connected to the hydraulic actuator valves in the upper engine room.
A set of push knees and deck winches with cheek blocks facilitates barge work. A pair of 55 kW gensets meets the boat’s electrical requirements.
Zero discharge tanks, built integral to the hull, provide storage for treated sewage and all drains. A separate tank handles waste oil.
The M/V Dianna Lynn is the fourth boat in the Mid-River Terminal fleet, all of which are Cummins powered. Owner Rick Ellis said, “We wanted the three engines for redundancy so that even if we lose an engine we still have over 1,200 horsepower.”
The new boat will be primarily involved in fleeting and harbor work, “Rodriguez did a great job and it is a great handling boat,” Ellis added.
Mid River Terminal Creates New Jobs with New Market Tax Credits
New Markets Tax Credit investment in Mid River Terminal will bring 125 new jobs to Mississippi County, Arkansas.
Rural Development Partners has closed on an allocation of $18 million in New Market Tax Credits with Mid River Terminal in Osceola, Arkansas. The New Market Tax Credits will allow Mid River Terminal to boost loading and unloading infrastructure on the Mississippi River, the adjacent railway and via traditional roads, benefiting all industries in the area and creating 125 new positions.
The expansion of Mid River Terminal was spurred by the Big River Steel company’s decision to construct a new facility in Osceola. Steel City Recycling will co-locate to reclaim and recycle secondary metals from Big River Steel. In addition to the 125 positions created from Mid River Terminal, Big River Steel will create 525 jobs and Steel City Recycling will generate 110 new jobs.
Mid River Terminal will have the ability to load or offload barges on the Mississippi River, offload inbound railcars or offload rock and limestone delivered by truck.
“Mid River Terminal is crucial to the additional projects happening in Mississippi County,” said Terry Carpenter, executive director of Rural Development Partners. “This larger project brings jobs, infrastructure support and excitement to a region looking for economic development and job opportunities for residents.”
About New Markets Tax Credits
New Markets Tax Credits (NMTC) were established by Congress in 2000 to encourage the investment of private capital in designated low-income communities in order to create jobs, generate economic activity and improve the quality of services in low-income communities and to low-income persons. NMTCs attract investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax return in exchange for making qualified equity investments in specialized financial institutions called Community Development Entities (CDEs). In turn, CDEs provide below market financing to transformative development projects in low-income communities across the country. The credit totals 39 percent of the original investment amount and is claimed over a period of seven years. For more information, visit www.cdfifund.gov.
Rural Development Partners is one of the nation’s few rural Community Development Entities with a national service territory and with a focus on agricultural, forestry, and renewable energy projects. RDP has deep roots in rural agriculture that extend across the country. It is owned predominantly by Ag Ventures Alliance, a farmer-owned business development organization with over 1100 members.
Because of the strength of the team it has organized and its dedication to rural, low-income communities, RDP has been extremely successful in securing NMTC awards from the federal government. (http://www.ruraldevelopmentpartners.com/index.cfm/68086/34870/mid_river_terminal_creates_new_jobs_with_new_market_tax_credits)