Vigor to Acquire Alaska Ship & Drydock

Tuesday, February 07, 2012
Alaska Ship & Drydock: current view & planned development. (Image courtesy: Vigor.com)
Vigor today announced its plan to acquire Alaska Ship and Drydock Inc. (ASD), further consolidating the business of ship repair on the U.S. West Coast. 
ASD intends to transition its business and assets to Vigor pending approval of the transfer of ownership by the Alaska Industrial Development and Export Authority (AIDEA), the owner of the Ketchikan Shipyard where ASD is based. The private companies hope to finalize their agreement on or before March 1st.
ASD would operate the Ketchikan Shipyard (KSY) as the Alaska Ship & Drydock LLC subsidiary, in continuation of its thirty year AIDEA operating agreements. ASD employees and customers will notice little change in day-to-day operations, said ASD owner Randy Johnson, a Ketchikan resident who has directed operations at KSY since 1994. Johnson will continue with the company, becoming ASD Vice Chairman.
“The purchase of ASD by Vigor will increase the capacity and competitiveness of the Ketchikan Shipyard in many ways, positioning Ketchikan and the State of Alaska to not only continue our high level of service to existing customers, but to significantly participate in exciting new markets emerging in the North Pacific and Arctic Oceans,” Johnson said.
Vigor Industrial currently owns and operates leading maritime services in the Pacific Northwest at facilities from Portland through Puget Sound.
“We see a tremendous opportunity here to work with Alaska residents to grow maritime jobs and industry from Oregon to the Arctic,” said Frank Foti, Vigor Industrial owner and CEO.
Vigor owns the 60-acre Swan Island shipyard in Portland, the historic Harbor Island yard in Seattle as well as operations in Tacoma, Everett, Bremerton and Port Angeles. Vigor customers include commercial fishing and cargo fleets, barge and workboat owners, oil transportation companies, Washington State Ferries, the Alaska Marine Highway System and alternative energy developers. Vigor, which purchased the Todd Pacific Shipyards in February 2011, also maintains and renovates U.S. Navy aircraft carriers and other vessels and U.S. Coast Guard assets including the icebreakers USCGC Healy, Polar Star and Polar Sea.
ASD has a loyal clientele, which consistently visit Ketchikan for marine maintenance and repair projects. Johnson will continue his focus on strategic planning & business development. Under his guidance, the firm entered the new-build market with innovative shipbuilding processes; created a highly competitive, multi-skilled workforce made up of Ketchikan residents; and forged an effective public-private partnership with the State of Alaska through AIDEA.
The combined companies would offer a full range of ship building, repair and modernization services in seven facilities in Alaska, Washington and Oregon with ten drydocks, more than 17,000 feet of pier space as well as large-scale fabrication facilities, specialty coatings and other industrial services. Upon approval, the companies will employ close to 2,000 workers across the Pacific Northwest.
Adam Beck, currently general manager of the Vigor Marine subsidiary’s regional operations, will take on added duties as ASD’s President. Beck worked at the Ketchikan yard for five years prior to joining Vigor Industrial in Portland.
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Voith Turbo Names Calhoun VP of O&G Sales

Shawn Calhoun has joined Voith Turbo’s Power, Oil & Gas Division as Vice President of Sales – Oil and Gas, to be based at the company’s new Houston, Texas office

Ki-tack Lim Elected as IMO Secretary General

Ki-tack Lim from the Republic of Korea has been elected as the new Secretary General of the International Maritime Organization (IMO), with effect from January 1,

Ocean Safety Inks Rescue Boat Distributor Deal

Ocean Safety, a company in the worldwide supply, distribution, service and hire of marine safety equipment, announced its appointment as sales and service agents

Shipbuilding

Evergreen Names Penultimate L-type Containership

A naming ceremony was held for the Evergreen Group’s newest containership, Ever Lovely, the ninth of its L-type vessels to be built by CSBC Corporation in Taiwan

Technip Wins Jurong's FPSO Conversion Contract

Technip has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd. The project is part of the conversion of a shuttle tanker into a floating,

Samsung Bags Order for Decks on Johan Sverdrup

Statoil, on behalf of the Johan Sverdrup license, has awarded Samsung the contract for decks for both the process and riser platforms.  The total contract value is NOK 7 billion.

Finance

S. African Competition Watchdog Fines Japanese Shipping Firm

South Africa's competition watchdog has recommended Japanese shipping firm Nippon Yusen Kabushiki Kaisha Ltd (NYK) pay a 104 million rand ($8.5 million) penalty

Activists Planning Protest Against Shell's Arctic Business

U.S. environmental activists said they planned to protest on Tuesday against the launch of the second of two oil rigs central to Shell's plans to drill for oil in the Arctic.

Protests Shut Channel Tunnel Again

The Channel Tunnel closed again on Tuesday due to protesting MyFerryLink workers, its operator Eurotunnel and French traffic supervision body Bison Fute said. The

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1908 sec (5 req/sec)