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

A Stitch In Time... Metal Stitching Technology Helps To Cut Costs, Keeps Vessels Sailing
ABB Turbocharger: Renewed Focus On Quality, Customer Service
Ailsa-Perth: from sunset to sunrise
Alaskan Oil Issue Lingers
Astilleros Espanoles To Convert Tanker To FPSO
AWSC 1993 Annual Report
Caridoc A Variety of Drydocking/Repair Services In the Caribbean
Companies In Southern Region Of U.S. Adjust Product, Market Focus To Remain Competitive
Del Gavio Marine Hydraulics, Inc.
Drew Ameroid Marine Forms CFC Conversion Alliance With York Marine Systems
frinity Acquires Plotter Yard In Houston
Impact of Propulsion Plant Choice On Maintenance
Keppel Joint Venture Results In Australia Yard Opening
Lisnave Wins Multi-Million$ Contract
MAN B&W—Hamburg service center
NASSCO Invests In Technology To Capture Commercial Business
New Underwater Welding Process Approved By LR
Norshipco Completes Work On Double-Hull Tanker Stena Concertina Acquire Air & Water Technologies Unit
PSY Director Warns Against Lifting Alaska Oil Ban
QE2 Refit Completed In Southampton
Revenue And Profitability Gains Reported By ASRY
Shell Commits To Yard In Repair Arrangement
Ship Repair & Conversion '94
SIFCO Selective Plating
Southwest Marine Inc. Expands Into New Market President And CEO
TBT ban threatens yard business
Tenf jord/Cunningham Marine/Marserv
Transfer Of Ownership Of Florida Yard Results In Expanded Services
U.S. Northwest: Ship repair Activity Picks Up
Unitor Introduces Shipboard Polymer Repair System
 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright