Page 50: of Maritime Reporter Magazine (October 2000)
Ship Repair & Conversion
Cammell Laird, Cascade
General Enter Agreement
Consolidation, which has swept the maritime markets for much of the last decade, continued last month in the ship repair and conversion segment, as two of the premier players in the U.S. and
U.K. repair and conversion markets announced plans to work together.
Cammell Laird, which has only recently completed an investment deal in Marseilles, has increased its involve- ment in the overseas repair and conver- sion industries by taking a $7.7 million (49 percent) equity stake in a new hold- ing company along with U.S. West
Coast ship repairer Cascade General.
The deal has an option for Cammell
Laird to take a controlling interest with- in the next two years.
It will allow the new company to pur- chase the repair facility (freehold and docks) at Portland, Ore., the largest sin- gle repair facility on the U.S. West
Coast. The facility is currently owned by
Portland Port Authority and operated by
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The Columbia Queen at twighlight. Its overhaul was completed at Cascade General.
Cascade General has leased the facili- ty from Portland Port Authority since 1995, when it became the sole shiprepairing company in the port. Since then, Frank Foti, chairman of Cascade
General, and future head of the new operation, has been looking to complete the buy-out. The yard currently boasts an annual turnover of about $100 mil- lion, and wins virtually half of all com- mercial contracts that are placed with
U.S. West Coast shiprepair yards. There are three main markets in which the yard operates — passenger vessels (the many cruise vessels now operating on the Alaskan service), tankers (the many large tankers operating between Alaskan terminals and U.S. refineries) and U.S.
Navy and auxiliary market. Last year the yard carried out a complicated con- version project involving a Drillship for
Global Marine. There is also a very active voyage repair market for ships, especially bulk carriers, calling at ports in the Columbia River area. This is an international business and has resulted in the yard winning a number of dry- docking contracts following successful voyage repair projects. The yard oper- ates three floating docks with lifting capacities of 87,000 tons, 982 x 185 ft. (299.3 m x 56.4 m); 27,000 tons, 661 x 114 ft. (201.5m x 34.8 m); and 15,000 tons, 982 x 185 ft. (182.3 m x 26.8 m).
Alongside berthage stands at 7,631 ft. (2,326 m), with a maximum draft of 40 ft. (12.2 m).
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SWM Awarded $55 Million Contract
The U.S. Navy granted a five-year, phased-maintenance contract for LSD - 41/49-class ships to Southwest Marine (SWM). The contract marks the compa- ny single-handedly winning all of the
LPD and LSD-class vessels in San
Diego. On June 13, a $ 100-million, five- year, phased maintenance contract for work on six LPD-class ships, two LSD- class ships and one AGF was awarded to
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