Page 60: of Maritime Reporter Magazine (October 2000)
Ship Repair & Conversion
After 25 Years, Smit International Keeps Evolving
Although Smit International graced the marine industry with its presence in 1975, the company actually began in the mid-18th century as a shipbuilder, which would eventually evolve into its current state as a diversified marine ser- vice provider. Known as Smit Interna- tional Singapore, the company is a wholly owned subsidiary of Smit Inter- national BV — a Dutch company listed on the Amsterdam stock exchange.
Celebrating its 25th anniversary this year, Smit formed a regional office in
Singapore as a strategic move for expan- sion in the Far East. It was quick plan- ning on the part of the company as it noted the region's ever-growing signifi- cance, as well as its large potential as a
NOTICE OF PUBLIC SALE
The Maritime Administration (MARAD) of the United States Department of
Transportation is offering for sale approximately 120 acres of land, more or less, together with all of the buildings, fixtures, dry docks, piers, and equipment constituting the partially reconstructed shipyard located on the Fore River at 115 East Howard Street, Quincy,
Massachusetts. The property is currently owned by Massachusetts Heavy Industries, Inc. and
MHI Shipbuilding LLC, which entities are currently subject to bankruptcy proceedings, and was formerly owned by General Dynamics and the Massachusetts Water Resources Administration.
MARAD is entertaining offers to purchase or lease all or a portion of the land, buildings, fixtures, dry docks, and equipment located at the shipyard, whether for maritime or nonmaritime uses. Sale of the property or any portion thereof will be "AS IS, WHERE IS" and will be for cash. MARAD will also consider proposals to purchase its secured position and bankruptcy claim.
On August 23, 2000, the United States Bankruptcy Court for the Eastern District of
Massachusetts granted MARAD relief from the automatic stay imposed by section 362 of the
Bankruptcy Code and permitted MARAD to commence preparations for the sale of the above referenced property so long as the sale is not consummated on or before December 1, 2000.
MARAD is the senior mortgagee on the property and plans to commence a foreclosure proceeding in the United States District Court for Massachusetts to facilitate the transfer of title to the property free and clear of existing liens to a qualified purchaser. At present, mortgages and liens against the property are in excess of $85 million.
Proposals to purchase or lease the shipyard in its entirety, or any portion thereof, should be submitted by October 31, 2000 and addressed to Jean E. McKeever, Associate Administrator for Shipbuilding, Maritime Administration, Room 8126, 400 Seventh Street, S.W., Washington,
D.C. 20590 (email@example.com). Ms. McKeever may be called at 202-366-5737.
All information received by MARAD will be treated as confidential, except that MARAD may, at its discretion, share the information on a confidential basis with the other shipyard mortgagees or other officials within the United States government. If dissatisfied with the proposals,
MARAD reserves the right to reject all proposals and issue a new request for bids.
In addition to containing a sealed bid, proposals to purchase or lease must contain the proposed business plan for the use of the property in the short and long term and the impacts the entity's intended use would have on the local community, in terms of employment, subcontracting, taxes, the environment, and projected revenue.
Entities or persons interested in inspecting the property or who desire more technical information about the property (including the types of equipment at the yard) may contact
Donald F. Coll, Division of Ship Design and Engineering Services, Office of Shipbuilding and
Marine Technology, Maritime Administration, at the above address or call him at 202-366-1946 for such technical information.
Circle 346 on Reader Service Card
Kritisun was the first major salvage project secured by Smit International South East Asia. maritime hub at that time.
The company was initially established in Singapore as Smit International South
East Asia (Pte.) Limited, at which time, the company's first-ever managing director, the late Gert Niemann, togeth- er with his staff, worked out of his home. This was the case because Smit's offices were not ready for occupation during the early weeks of operation.
There was even one particular occur- rence when Smit's staff and salvage crew were accommodated for a brief time onboard floating crane Typhoon
Salvor — prior to the readying of the new office.
Sweeping changes soon occurred and the Smit International staff was finally able to move to its permanent home, with its 43 employees quickly making a name for their company by securing a major salvage contract within the first year of operation. The project involved a vessel named Kritisun worth $5 million, which was a significant job at that time.
Smit's toddler years of operation focused on its involvement within vari- ous marine services in the Port of Singa- pore and the region surrounding it. The company today has achieved this with the formation of Keppel Smit Towage
Private Limited; Asian Lift Pte Ltd and
Keppel Smit Transpacific in the Philip- pines.
Initially beginning with a pair of sal- vage barges, a crane barge, two tugs and a diving tender, Smit has since evolved into a company worth more than $200 million with a staff of 700. In fact, on its 25th anniversary the company recog- nized eight of the 43 original staff mem- bers who have been with Smit since its inception.
Presently, the company's activities encompass salvage, ocean, port and coastal towage, pipeline installation, horizontal directional drilling and off- shore support.
Smit can be credited to the following projects, which include installation of tunnel elements for the Tuas Tunnel; the
Tuas pipeline project from Jurong Island to Tuas Power Plant; the container and gantry cranes in the port of Singapore; and all cranes at Port Klang and Kuan- tan Port.
Circle 106 on Reader Service Card 58 Maritime Reporter/Engineering News