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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

Ports

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

China Maritime Silk Road to Touch India for Namesake

Chinese officials on Saturday fleshed out some details for the country's ambitious 21st Century Maritime Silk Road (MSR) project in its “one belt, one road,” action plan.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1176 sec (9 req/sec)