Marine link

McDermott, Shipbuilding Ventures Inc. Sign Agreement To Build Product Carriers In U.S.

Shipbuilding Ventures, Inc. (SVT), formerly U.S. Shipbuilding Consortium, Inc., and McDermott Shipbuilding, Inc. announced the signing of an agreement forming a new joint venture company to build product carriers and other ships based on the Skarhar design for simplified, longitudinally framed ships.

Along with thejointventure news, it was announced that SVI and the Skaarup Group were ordering a ship from the new venture.

Under the joint venture agreement, Shipbuilding Ventures, Inc., a member of the Skaarup Group, will contribute exclusive rights to the proprietary Skarhar design to the new company, which will be known as U.S. Shipbuilding Corporation (USSC).

The Skaarup Group and SVI will provide design, process, technical and marketing support, while McDermott will provide capital contribution, engineering and technical support. McDermott Marine Construction's Morgan City, La. facility will serve as the principal construction site.

"I am very pleased that our relationship with McDermott has been firmly established, and I am confident this is an important step in our efforts to assist in a revival of commercial shipbuilding in the United States," said Ole Skaarup. Said Brinson Miles, general manager, shipbuilding projects at McDermott Shipbuilding, "Our goal is to make shipbuilding an important element of McDermott's business.

By entering this joint venture, we take a significant step towards our goal." THE ORDER The Skaarup Group and SVI signed a letter of intent with USSC for the construction of a 40,000-dwt product carrier, with an option for a second. SVI and the Skaarup Group plan to pursue innovative financing for the vessel, financing which may include Maritime Administration Title XI export financing assistance. The ship ordered will be built for international service, chartered and operated with the technical assistance of the Skaarup Group. The ship represents the first in a series of generic ships USSC expects to build at competitive world prices, based on the Skarhar design and using innovative modular construction techniques. Delivery of the first ship is scheduled for the second half of 1996.

McDermott Shipbuilding, Inc. is a unit of McDermott International, Inc., a leading worldwide energy services company. The company and its subsidiaries manufacture steam-generating equipment, environmental equipment, and government and aerospace products. The company also provides engineering and construction services for industrial and utility facilities onshore, and to the oil and gas industry offshore. For additional information on the new joint venture, Circle 34 on Reader Service Card

Shipbuilding / Vessel Construction History

Changes at Malta Drydocks
Europeans Hang On With Technology
Expansion Via Acquisition
INDIA: Big Plans To Acquire Ships, Aid Shipbuilder
Industry Leaders Meet To Discuss Maritime Policy, Commercialization
Japanese Industry News
Kockums To Launch New Generation Of Shipbuilding Systems
Lake Shore A Military and Commercial Institution Evolves
Lucent Technologies Gets Contract With Chinese Shipbuilder
McDermott Enters Russian Shipbuilding Venture
McDermott, Shipbuilding Ventures Inc. Sign Agreement To Build Product Carriers In U.S.
McDermott: Blazing A Unique Trail Towards International Business
Navy's Newest Amphibious Assault Ship Commissioned At Ingalls
NEVA '93 The International Shipping Exhibition with Russia and the Republics St. Petersburg, September 14-18
New facility broadens Dutch yard's scope
NNS lays Keel For First Of Nine Double Eagle Product Tankers
NNS To Develop Construction, Repair Facility In UAE
Opportunities For Cooperation Between U.S. And Japanese Marine Equipment Manufacturers
Paquets Order First Taurus 60M Marine Turbines For U.S. Waters
PHOENIX WORLD CITY Landmark Passenger Ship Intends To Boost U.S. Maritime Industry Into International Commercial Competition
Pick Up Speed?
Pragmatic Research
Set four Clock For 2002: New ASIS report finds that next big push of tanker building to tab place between 2002-2004
Shipbuilders Announce Incorporation Of American Shipbuilding Association American Shipbuilding Association
TBI: The Debate Rages
Vickers Shipbuilding Upgrades Software Capability
World Orderbook Up Slightly
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright