Portland Waterfront Gets Boost from Oil Rig Construction Project

Monday, January 12, 2004
Portland’s marine commercial shipbuilding industry is getting a boost thanks in part to construction of the “Pride Portland” and the “Pride Rio de Janeiro,” two huge oil rigs built by crews working for Cianbro and funded with a $342 million loan guarantee from the U.S. Maritime Administration (MARAD). Maritime Administrator Captain William G. Schubert today visited the “Amethyst Project” at the terminal where the two 12,000 ton oil rigs that symbolize the city’s revitalization efforts were constructed. Captain Schubert called the working waterfront an asset that will provide jobs and keep America moving. “This project alone has employed close to 1,000 people and is exactly what President Bush envisions when he speaks of revitalizing the economy and creating jobs for every American who wants to work. It is clear that the Amethyst Project is a catalyst for the city of Portland, one that enhances and builds upon the state’s already strong maritime tradition.” The rigs are being constructed for Petrodrill, an international company based in the British Virgin Islands, and are intended for oil exploration off the coast of South America. Cianbro, one of the largest construction companies on the East Coast, was awarded the contract to build and assemble the two semi-submersible drill rigs in 2002. The loan to Petrodrill must be paid back over 12 years. The loan guarantee program, known as Title XI, provides a federal guarantee of the private sector debt to aid in the construction of U.S. built vessels and for the modernization of U.S. shipyard facilities. The oil rig project is just one part of Portland’s plan to revitalize its working waterfront. The city intends to redevelop its international marine terminal as a dedicated cargo facility and preserve its roll-on, roll-off infrastructure to handle potential short sea shipping services. Roll-on, roll-off vessels transport various types of vehicles that can roll on and off ships. The Short Sea Shipping concept will help ease ground freight transportation congestion by encouraging the movement of cargo and passengers by water instead of by highway and rail. U.S. Secretary of Transportation Norman Y. Mineta said, “Transportation is the economic engine that keeps this nation moving. Portland’s investment in a working waterfront enhances the nation’s maritime infrastructure.” The “Pride Rio de Janeiro” has been completed and will depart Portland this month while the “Pride Portland” is scheduled to be completed this spring.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Eni Arctic Service Rig Extension Okayed

Italian oil company Eni has received permission from Norway's Petroleum Safety Authority to extend the use of a service rig on its troubled Arctic Goliat oil field offshore Norway until Nov.

Oil Spill Statfjord North Sea Field - Statoil

Loading of tankers suspended, unclear when it will resume. Oil spilled into the North Sea during the loading of a tanker at Norway's Statfjord field on Thursday, operator Statoil said.

MacGregor Wins Deck Machinery Order in China

MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five


Port of Cleveland Scores Sediment Customer

The Port of Cleveland and its partner Kurtz Bros., Inc. have scored their first major user in the Port’s effort to market sediment for beneficial use.  Great Lakes Construction, Co.

Former Shipping Execs Indicted on Price-fixing

Three former executives of ocean freight shipping firms have been indicted for participating in a long-running price-fixing conspiracy, the U.S. Justice Department announced.

Indonesia Plans to Build 22 Ports

Indonesia Port Corporations (IPC) or PT Pelabuhan Indonesia (Pelindo) II, Indonesia’s state-owned port operator is to build 22 ports in the country in the next

Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1310 sec (8 req/sec)