Marine link
 
Articles - Ship Repair - History

Agreement Finalized For Purchase And Cleanup Of Seattle Waterfront Property

The Washington State Department of Ecology finalized the first prospective purchaser agreement under new amendments to the state's Superfund law, with Northlake Shipyard, Inc., a Seattle-based marine company. The agreement was the last hurdle before Northlake Shipyard could reopen a bankrupt shipyard along Seattle's Lake Union, the former United Marine, Inc. site.

This is also reportedly the first prospective purchaser agreement in the nation to involve a profit-sharing arrangement between a private company and a government agency. Northlake Shipyard will contribute a portion of its profits each year into a fund capped at $1.1 million to clean up the property.

In a consent decree with Ecology, Northlake Shipyard will pay $400,000 at purchase time into a cleanup fund and will contribute a portion of its profits into the fund for up to 15 years. Over 15 years, the fund is expected to accumulate $1.1 million, which is the estimated cost for cleaning up the contamination caused by past operations at the property. In return, Ecology will not hold Northlake Shipyard liable for any other cleanup costs, unless Northlake Shipyard causes further contamination. Northlake also has the option of using the funds to clean up the site under Ecology's supervision.

Northlake Shipyard will restore ship repair operations on the site, which was most recently owned by United Marine International, Inc. This is reportedly one of only two shipyards in the Seattle area capable of large repair work required on military craft.




Ship Repair History

ABB Turbocharger Repairs VTR..4 Turbine Blades
Agreement Finalized For Purchase And Cleanup Of Seattle Waterfront Property
Avondale Repairs Holland America's Noordam
Bender Shipbuilding And ENSCO Drilling Christen Drilling Barge
BethShip Sparrows Point Expands Orderbook
BethShip W i n s $ 3 4 Million Contract
Consolidation Of Resources
DUBAI: Tops For Tankers
FRATELLI ORLANDO . . . . . . Resurgence of shipbuilding in Livorno
frinity Acquires Plotter Yard In Houston
Heightened Environmental Pressures, Rising Freight Rates Buoy Ship Repair Industry Announces New Contracts
Impact of Propulsion Plant Choice On Maintenance
Keppel Cairncross Completes A Number Of Ship Repair Operations
Keppel Joint Venture Results In Australia Yard Opening
Klattenberg Marine Agency Helps Link Shipowners With Spare Parts, Yards
Lisnave Wins Multi-Million$ Contract
Mackay's World Me Department: Local sendee on a global scale
Making It A Clean Sweep
NASSCO Invests In Technology To Capture Commercial Business
Norshipco Completes Work On Double-Hull Tanker Stena Concertina Acquire Air & Water Technologies Unit
Petrobras Block Booking For ASRY
Practical Guide to the Year 2000 Problem
Shipbuilding in South Korea… Expansion Continues
Sperry Marine
TBT ban threatens yard business
Tracor Signs Agreement To Sell Division To SIMCO
Trinity Signs Contract for Four Tank Barges; Refurbishes Passenger Boat
U.S. Northwest: Ship repair Activity Picks Up
Viking Sun job welcomed in Malta
Welding Technique Helps Navy Save Millions
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright