Vigor Set to Buy Alaska's Seward Ship's Drydock

MarineLink.com
Thursday, January 30, 2014
Photo courtesy of Seward Ship's Drydock

Vigor Industrial inform that the owner of Seward Ship’s Drydock has signed a letter of intent to sell the assets of the Seward, Alaska, shipyard company to Vigor Industrial.

Seward Ship’s Drydock operates as a full service shipyard and drydock facility, in Seward, Alaska. Under the terms of the tentative deal, the Seward shipyard would join Vigor as a subsidiary of the company’s Vigor Alaska subsidiary.

Vigor explain that the two companies are currently negotiating the terms of the potential sale and expect it to be finalized after satisfactory completion of environmental, financial and business due diligence; as well as final agreement on certain details of the agreement.

“This is an exciting opportunity for Vigor, our customers, our employees and the workforce here in Seward,” said Frank Foti, president and CEO of Vigor Industrial. “Vigor continually strives to improve our service to the maritime industry, and the purchase of this strategically located shipyard will expand our ability to provide the services our customers need, when they need them, where they need them.”
 
Foti added that the move was part of Vigor’s larger plan to improve the company’s service offerings in Alaska for existing customers in the fishing, oil and gas and marine transportation sectors as well as increase overall capacity to meet expected increases in demand from arctic drilling and the revitalization of the commercial fishing fleets in the area.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

First Panama Canal Water-Saving Basin Filled

The Panama Canal Authority (ACP) announced that the first water-saving basin of the Agua Clara Locks’ upper chamber has been filled to the required level in order

Shipbuilding

Crowley Christens 2nd LNG-ready Product Tanker

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of

VT Halter Delivers ATB Tug to Bouchard

VT Halter Marine, Inc. announced the delivery of the M/V Morton S. Bouchard Jr., the first of the two 6,000 horsepower Twin Screw Articulated Tug Barge (ATB) tugs to Bouchard Transportation Co.

Damen Builds Cable Installer For Maersk Supply Service

New Damen-built vessel for Maersk Supply Service to undertake long-term charter with DeepOcean   A newbuild DP2 cable installation vessel, Maersk Connector, was

Ship Repair & Conversion

Shipbreaking Practices in 2015 Reveal Appalling Record -Report

Ignoring industry leaders and human rights and environmental organizations, ship owners continue to profit from dangerous and dirty shipbreaking practices on South Asian beaches in 2015,

Dumpers 2015 - Examples of Particularly Bad Practices

The worst dumper prize goes to IDAN OFER, son of shipping magnate Sammy Ofer. Idan Ofer owns QUANTUM PACIFIC GROUP and has a controlling stake in Israel’s largest publicly traded company,

SS United States to Sail Again

Crystal Cruises reaches deal to restore the record-breaking and storied SS United States to a fully operational modern luxury cruise ship   Crystal Cruises has

News

MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

First Panama Canal Water-Saving Basin Filled

The Panama Canal Authority (ACP) announced that the first water-saving basin of the Agua Clara Locks’ upper chamber has been filled to the required level in order

Mergers & Acquisitions

MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material

Cosco Merger May Change Industry Dynamics

The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry,

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1018 sec (10 req/sec)