Marine link
 

Kvaerner To Take Over Philadelphia Shipyard

Kvaerner — the international engineering and construction group — signed an agreement to develop the former U.S. Navy yard in Philadelphia, Pa., into a stateof- the-art shipbuilding facility.

The agreement is a 99-year deal under which Kvaerner would build container vessels and tanker ships at two dry docks on the Delaware River. The first vessel to be produced by the venture would set sail in 2000. The agreement was signed at Kvaerner's Warnow shipyard near Rostock, Germany, as Tom Ridge, Governor of the State of Pennsylvania, and other members of the U.S. delegation were at Kvaerner's German yard recently, to see the facilities developed by the group since its acquisition of the former state-owned shipyard in 1992.

It is proposed that the parties will jointly develop a modern shipyard on part of the former naval facility. Extensive training programs will be implemented for the yard workforce based on Kvaerner's technology and experience. Under the terms of a draft agreement, the Commonwealth of Pennsylvania, the Philadelphia Industrial Development Corporation, the Delaware River Port Authority and others will contribute a total of more than $400 million of investment funding in the yard, of which about half will be for training. Extensive skills training and additional on-the-job training will be funded through various U.S.

programs.

For its part, Kvaerner will provide capital infrastructure investment of some $45 million over a five year period. Approximately $30 million of this will be provided through a loan from the Pennsylvania parties at preferential rates of interest.

The naval yard, which now serves as a mothball facility for out-of-service Navy battleships and frigates, closed as a working shipyard in 1995 with the loss of about 7,500 jobs. Kvaerner will also provide ship designs, software applications and access to its extensive R&D programs. As a measure of its commitment, Kvaerner will purchase, at cost, the first 3 ships to be built at the new facility (totaling some $80 million). These vessels will be offered for sale to the market.




Naval Architecture History

ASNE Day Features Presentation Of 1995 Awards
ASNE Shew To Be Held In U.S. Capitol Cargo Space
Autronica To Supply Fire/Gas Detection System For Rasmussen FPSO
Bay Transportation Exercises Option To Build 3 More Ttogs
C.N. Watson Passes Away
CALENDAR
Calendar of events
Dry Bulk Fleet's Main Niche Sector Faces Increased Competition
EBDG Wins Contract To Repower And Modify Spirit of Endeavour
Gardy McGrath Produces Video Detailing Environmental Systems On 21 st Century Navy Ship
Gas Turbine Advances
GE Gets $60 Million Contract From NASSCO
Havy Taps ERC For Fuel Cell Development
IBEX: A Congregation Of Boatbuilders
IBEX: A Congregation Of Boatbuilders
M. Rosenblatt Names San Francisco Branch Manager
Metro Machine Awarded $3 Million Government Contract To Advance U.S. Double-Hulled Tanker Technology
Navy Awards Towboat Contract
New Medium-Sized Containership Design Nears Completion
New Temporary Protection System Gains Ground In Maritime Industry
OPA 90 UPDATE: COFRs — Tanker Industry Deadline Is Near
Paddle Wheel Showboat Branson Belle Under Construction
R.A. Stern To Provide Detail Design For Self-Unloading Cement Barge
SNAME/SSC To Hold Ninth Symposium
THE PRESIDENT'S PLAN: President Clinton Proposes How The Maritime Industry Can Convert From Defense To Commercial Production
The Push Is On
Uncovered: Lax Coating Application, Maintenance Come At A High Cost
USCG Selects Hughes For Surface Search Radar Program
Waller Marine Completes Offshore Power Plant, Receives ABS Certification
Westinghouse Proclaims ICR Engine A Success At NYC Meeting
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright