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Todd Shipyards Corp News

24 Apr 2014

Brokers Marcon Conclude Ocean Deck Barge Sale

Barge HML 240-2: Photo credit Marcon International

Marcon International, Inc. of Coupeville, Washington says that Pacific Coast Maritime, Inc., Seattle, Washington, a subsidiary of Harley Marine Services, Seattle, has concluded the sale of its 240’ ABS ocean deck barge “HML 240-2” (ex-Aqua 242, MK-242, Foss 242) to Island Tug & Barge Co. also of Seattle. Marcon International explain that the 240’ x 60’x 16’ flat deck barge was originally built by Todd Shipyards Corp. of Houston, Texas for Foss Maritime in 1967, and acquired by Pacific Coast Maritime, Inc. in 2000 as the “Aqua 242”.

11 Jan 2011

Todd Shipyards Contract for USCGC Polar Star

Todd Shipyards Corp. announced that the U.S. Coast Guard has awarded to its subsidiary, Todd Pacific Shipyards Corp., a $16,008,228 modification to previously awarded contract HSCG85-09-C-6BX667 in support of USCGC Polar Star's (WAGB-10) reactivation since being in "Caretaker Status" nearly four years. According to a release, repairs and alterations performed during the planned dry-docking availability of the icebreaker are in the third phase of the cutter's overhaul. The contract modification provides for the alteration and repair of ship's systems, engines and shipboard equipment. The work will be accomplished at Todd Pacific's Seattle shipyard beginning immediately, and is expected to be complete in July 2011.

27 Dec 2010

Vigor Industrial to Acquire Todd Shipyards

Todd Shipyards Corp. (NYSE: TOD) and Vigor Industrial LLC announced that they have entered into a definitive agreement under which Vigor will acquire the stock of Todd for $22.27 per share, or approximately $130m. The transaction is structured as an all cash tender offer. Under the terms of the agreement, which has been unanimously approved by Todd’s board of directors, Vigor will offer to purchase all outstanding shares of Todd’s common stock for $22.27 in cash per share. This represents a premium of 31% over the average closing price of Todd’s common stock during the three month period ended December 21, 2010. The price of Todd’s stock has climbed steadily during the year from a low of $13.98 to its recent 52 week high closing price of $21.00.

18 Oct 2009

Todd Shipyards $12.5M add-on to CG Contract

According to a report from the Puget Sound Business Journal, Todd Shipyards Corp. said on Oct. 15 that the U.S. Coast Guard is awarding it a $12.5m option on a previously awarded contract to make additional alterations and repairs on the icebreaker USCGC Healy. (Source: Puget Sound Business Journal)

13 Mar 2008

Todd Shipyards Gets $3.1M Overhaul Contract

Todd Pacific Shipyards Corp. has received a $3.1 million contract to overhaul the USNS Guadalupe, a oiler naval vessel that provides fuel for Navy ships at sea, Puget Sound Business Journal reported. According to Todd, a subsidiary of Seattle-based Todd Shipyards Corp., the contract work includes: tank cleaning and inspection, galley equipment replacement, habitability space repairs, main engine overhaul work, replacement of the low pressure air compressor, and various other machinery, electrical, ventilation, and piping items. The Guadalupe is expected to arrive at Todd's shipyard on April 22 for its 30-day overhaul. Source: Business Journal