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U.S. Navy Shipbuilders & Disaggregated, Dispersed Production
With a lame-duck CNO, a divided Congress and the impending launch of the next Presidential election cycle, America’s naval market is locked into something of a fragile and fearful autopilot, cruising inexorably towards whatever excitement 2024 might bring.Materially, don’t expect much change: The demand for naval platforms will continue to outstrip available funding, meaning there will be little movement or growth in America’s major shipbuilding programs of record.
Carlyle and Stellex Complete Sale of Titan to an Affiliate of Lone Star Funds
Funds managed by global investment firm Carlyle and private equity firm Stellex Capital Management announced they have completed the sale of Titan Acquisition Holdings, a bi-coastal leader in ship repair services and marine and heavy complex fabrication, to an affiliate of Lone Star Funds. The initial definitive agreement of the sale was announced in February 2023 and the final close took place on June 15…
Lone Star Buys Shipyards Group Titan from Carlyle, Stellex Capital
Lone Star Funds has reached a del to buy U.S. shipbuilding and repair group Titan Acquisition Holdings from peer investment firms Carlyle and Stellex Capital Management. Financial terms were not disclosed.Titan is comprised of Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Ore.; MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Va.; and Continental Maritime of San Diego (CMSD).
Are Unmanned Surface Vessels the Key to a 500-Ship U.S. Navy?
In an era of great power competition, navies – by virtue of their ability to span the globe and effectively deliver combat power – are likely to be the sine qua non of military power. This leads, naturally, to the tendency to count numbers of ship hulls when comparing the strength of navies. Lost on no one is the fact that the size of China’s Navy now exceeds that of the U.S. Navy, and the gap in ship numbers is growing.During the Cold War…
Rescue Boat Resolve Pioneer Upgraded
Salvage, emergency response and marine services company Resolve Marine announced that its vessel the Resolve Pioneer has completed its ABS special survey and U.S. Coast Guard (USCG) certificate of inspection following a drydock at Vigor Industrial in Portland, Ore. The drydock involved various technical upgrades, hull steel renewal, painting, overhaul and cleaning of the vessel.The 207-foot rescue…
Furuno Equips Los Angeles' New Pilot Boats
The Los Angeles Pilot Service has taken delivery of two new pilot boats equipped with full suites of quality Furuno marine electronics. The 56-foot Angels Pilot…
Vigor Delivers Los Angeles' New Pilot Boats
The Los Angeles Pilot Service has taken delivery of two customized 56-foot Camarc Design pilot boats built by Vigor Industrial at its Vancouver, Wash. facility, located on the northern side of the Columbia River. The Angels Pilot and Angels Navigator were handed over to the LA Pilot Service at Vigor’s shipyard on Swan Island in Portland, Ore. in early October.Camarc designs are optimized to function in the most extreme climates in the world.
Titan Acquires HII's San Diego Shipyard
One the United States' largest fleet service and ship repair sites is changing hands.Ship repair and commercial- and defense-related fabrication services provider Titan Acquisition Holdings announced on Wednesday it has reached a deal to acquire San Diego Shipyard from Huntington Ingalls Industries (HII). Financial terms were not disclosed. The transaction, expected to close in the second quarter, is subject to customary closing conditions.The San Diego Shipyard…
The Carlyle Group, Stellex Capital Complete Acquisition of Vigor, MHI
Global investment firm The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management today announced they have closed on their acquisition of Vigor Industrial LLC and MHI Holdings LLC. In addition, Carlyle and Stellex announced they have appointed Jim Marcotuli as CEO of the newly created company comprising Vigor and MHI, effective today.Marcotuli brings more than 30 years of leadership experience in the defense and manufacturing industries.
WSF, Vigor Launch Hybrid-Electric Ferry Build Program
Dignitaries from the State of Washington joined Governor Jay Inslee, Washington State Ferries officials and Vigor Industrial employees yesterday (September 9) at Vigor’s Seattle, Washington shipyard to celebrate the launch of a new hybrid-electric ferry build program for the ferry operator. Speakers included Washington State Governor Jay Inslee; Roger Millar, Secretary of Transportation for Washington State Department of Transportation; and Vigor’s CEO, Frank Foti.
Vigor, MHI Acquired and Merged
In one a dramatic U.S. shipbuilding and repair move it was announced today that The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management signed a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk…
Skilled Workers Needed to Build Trump's Navy Vision
U.S. President Donald Trump says he wants to build dozens of new warships in one of the biggest peace-time expansions of the U.S. Navy. But interviews with ship-builders…
US Boatbuilding: Sink or Swim
Navigating interesting times has the nation’s shipbuilding industry searching in unusual places. The answers could be blowing in the wind. Conducting commerce and forecasting the future for shipyards is akin to setting out in uncharted waters. For some, the voyage might prove to be easy sailing with favorable winds. Other times, it can be a rough ride, forcing long and unprogressive diversions. In the worst cases…
Interview: Frank Foti - President & CEO, Vigor Industrial
For nearly two decades, Frank Foti has led Vigor’s transformation from a single, struggling shipyard to a thriving, increasingly diversified industrial company with 2…
Rough Waters for Washington State Ferries
Improved funding and management changes have the nation’s largest ferry system on a course to better times. Challenges remain, but WSF tackles each one in turn. Unlike the citizens of British Columbia, which pays a German shipyard to build its ferries, Washington state residents resolutely invest at home. By law, ferries are built locally and the results, overall, seem win-win. The state’s Office of…
WSF Orders Fourth Olympic Class Ferry
Washington State Ferries (WSF) will start 2016 with construction of a new Olympic Class ferry, after signing a Notice to Proceed last week with shipbuilder Vigor Industrial for work on its fourth 144-vehicle ferry. Construction begins in January, with delivery scheduled for mid-2018. Along with the Tokitae, Samish and Chimacum, the fourth Olympic Class ferry is part of a series built to replace four of the state’s oldest ferries built during the 1950s and 1960s.
Maritime Security Demand Keeps US Builders Busy
Export hulls – through the FMS Program, as well as Direct Sales – are a key piece of the business model. Even as the crash in energy prices feeds the oversupply of offshore support vessels – a key staple of U.S. boatbuilding diets – and the dwindling backlogs of some so-called ‘second tier’ yards, a number of U.S. boat builders are still seeing robust demand for security vessels. Separately, tightening federal…
Thordon Bearings Secures AK Ferry Contract
Thordon Bearings has received an order to supply its COMPAC system to two Alaska Ferry newbuilds under construction at the Vigor Industrial shipyard in Ketchikan, Alaska.
'Kayaktivists' to Launch Blockade of Shell Icebreaker
A small group of protesters and activists are gathering at the Cathedral Park boat ramp in Portland, preparing to stay for a 24-hour vigil as they wait for Royal Dutch Shell Oil's icebreaker ship…
Thordon Bearings Bags Alaska Ferry Contract
Thordon Bearings has received an order to supply its COMPAC system to two Alaska Ferry newbuilds under construction at the Vigor Industrial shipyard in Ketchikan, Alaska. The Canada-based company, a supplier of seawater-lubricated propeller shaft bearings, will deliver the Environmentally Acceptable Lubricant (EAL)-compliant COMPAC propeller shaft bearing system for shaft diameters of 267mm. The twin-screw…