Leevac Acquires Quality Shipyards from Tidewater

MarineLink.com
Monday, July 01, 2013
(Photo: Greg Trauthwein)

LEEVAC Shipyards, LLC through its newly created subsidiary LEEVAC Shipyards Houma, LLC (LEEVAC) has completed the acquisition of substantially all assets of Quality Shipyards, Inc. (Quality) located at 3201 Earhart Street in Houma Louisiana from Tidewater Marine, LLC (NYSE: TDW).

The acquisition of assets includes 35 acres of industrial property located on 2,500 feet of waterfront along the intracoastal waterway, 4 drydocks (the largest measuring 4,200 tons of capacity), 100,000 square feet of covered production facilities and several large track cranes.
Christian Vaccari, President and Chief Executive Officer of LEEVAC said, “I want to personally welcome all of the employees of Quality into the LEEVAC family. My message to the employees of Quality has been, and will continue to be that while Tidewater’s primary business is the ownership and operation of offshore service and supply vessels, LEEVAC’s core business is ship construction and ship repair. You all have the opportunity to play a vitally important role in the growth of our company.”


Three years ago, LEEVAC entered into the repair business with the opening of our Lake Charles location. Listening to our customers’ requests for a repair facility east of Lake Charles prompted our search. When the opportunity arose for us to buy the Quality facility, it made perfect sense. The location, management team, workforce and assets combined with our successful business relationship with Tidewater made this an easy decision for us. The Houma facility is located closer to many of the shore based operations of our customers who operate in the Gulf of Mexico and inland waterways and also provides us some geographic diversification for our repair business. Additionally, we plan to make investments in the facility that will allow us to expand our new construction business.”


Billy Brown, Tidewater’s Vice President for Engineering and Technical Services, said, “Tidewater was very pleased to reach an agreement with LEEVAC in regards to the assets and ship repair business of Quality Shipyards. Many of the employees of Quality that will have an opportunity to join LEEVAC have been part of the Tidewater family for many years and we offer them our very best wishes in the years to come. Tidewater has worked with LEEVAC on numerous new construction projects, including the LDS 300 DE series of deepwater PSVs. We consider Chris and the rest of the LEEVAC team to be high quality professionals and we look forward to continuing to work with LEEVAC on our on-going new construction projects. We also look forward to developing a ship repair relationship with LEEVAC.”
 

  • The Buckeye State, a towboat built by Quality Marine in 2008. (Photo: Greg Trauthwein)

    The Buckeye State, a towboat built by Quality Marine in 2008. (Photo: Greg Trauthwein)

Maritime Today


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

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

People & Company News

UASC Shareholding States Vote to Back Hapag-Lloyd Merger

United Arab Shipping Company (UASC) said its six shareholding states backed a merger deal with German container shipping line Hapag-Lloyd AG at a meeting on Wednesday.

List: Top Five UK Ship Owners

Following last week's landmark referendum results, VesselsValue has compiled a list of the top five U.K.-based shipowners and their total fleet value in USD billions.

FMC's Doyle Addresses VGM Rules

U.S. Federal Maritime Commission (FMC) Commissioner William P. Doyle issued a statement on the upcoming implementation of the SOLAS Convention’s verified gross mass (VGM) requirements:   On Friday,

Contracts

AWO Authorizes ClassNK to Perform RCP Audits

The American Waterways Operators (AWO) and ClassNK have signed an agreement under which ClassNK will be authorized to conduct audits of AWO's Responsible Carrier Program,

Radio Holland Wins Contracts for Canadian Coast Guard Vessels

Radio Holland Canada has won two major contracts to support the Canadian Coast Guard. Public Works and Government Services Canada, which is responsible for government procurement,

Young Brothers Orders Four New Tugs from Conrad

Young Brothers, Limited, Hawai‘i’s largest inter-island cargo service provider, and Conrad Shipyard, signed a contract to build four new tugs, a nearly $80 million

Shipbuilding

VLCC Delivered to Gener8 Maritime

Gener8 Maritime, Inc., a U.S.-based provider of international seaborne crude oil transportation services, has taken delivery of the ECO VLCC the Gener8 Constantine on June 27,

Future LCS Charleston’s Keel Authenticated

A ceremony was hosted to celebrate the keel authentication of the U.S. Navy's future USS Charleston (LCS 18), the ninth Independence variant littoral combat ship, June 28.

Hybrid RoPax Ferry Delivered to Royal TESO

Hybrid RoPax ferry Texelstroom has been delivered to Koninklijke N.V. Texels Eigen Stoomboot Onderneming (Royal TESO).   This latest generation symmetrical ferry is powered by efficient,

Workboats

AWO Authorizes ClassNK to Perform RCP Audits

The American Waterways Operators (AWO) and ClassNK have signed an agreement under which ClassNK will be authorized to conduct audits of AWO's Responsible Carrier Program,

Young Brothers Orders Four New Tugs from Conrad

Young Brothers, Limited, Hawai‘i’s largest inter-island cargo service provider, and Conrad Shipyard, signed a contract to build four new tugs, a nearly $80 million

Meercat Workboats Scores a Hat-trick

The U.K.’s Meercat Workboats says it scored a hat-trick; the Hampshire-based boat builder announced it is moving premises, that Seawork was a huge success and that

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Port Authority 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: 0.1256 sec (8 req/sec)