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 Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sekimizu Welcomes Shipper’s Revised Stance on Ballast Water

IMO Secretary-General Koji Sekimizu has welcomed the reconsideration by the International Chamber of Shipping (ICS) of its position towards the ratification by

EXMAR Orders Second FLNG from Wison

EXMAR NV has placed an order for a second Floating LNG Liquefaction Unit (FLNG) at Wison Offshore & Marine. Under the agreement, Wison will be responsible for the turnkey engineering,

Marseille Fos Unveils Multimillion Growth Strategy

The Marseille Fos port authority has set out a vision for growth over the four years to 2018 in a strategic plan that puts developments costing $560 million at

Contracts

Teekay Petrojarl Contracts Damen for FPSO Upgrade

Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion (DSC), has been awarded an EPC contract by Petrojarl I LLC for the upgrade of its FPSO Petrojarl I.

Contract Awarded for US Aircraft Carrier Dismantling

The U.S. Navy awarded a contract, Dec. 22, for the towing and dismantling of the decommissioned aircraft carrier Ranger (CV 61) to International Shipbreaking, Ltd.

EXMAR Orders Second FLNG from Wison

EXMAR NV has placed an order for a second Floating LNG Liquefaction Unit (FLNG) at Wison Offshore & Marine. Under the agreement, Wison will be responsible for the turnkey engineering,

Shipbuilding

NSRP Awards $11m for R&D Project Portfolio

The Executive Control Board of the National Shipbuilding Research Program (NSRP) has selected a new round of research and development projects for award, as part

EXMAR Orders Second FLNG from Wison

EXMAR NV has placed an order for a second Floating LNG Liquefaction Unit (FLNG) at Wison Offshore & Marine. Under the agreement, Wison will be responsible for the turnkey engineering,

Wärtsilä to Power LNG-fuelled RoPax Ferry

A new passenger ferry being built for Swedish operator Rederi AB Gotland will be fuelled by liquefied natural gas (LNG) and will feature a Wärtsilä integrated solution.

Workboats

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

MARAD Publishes US ATB, ITB Database

The U.S. Maritime Administration (MARAD) released what it is calling a first-of-its-kind public database that chronicles U.S.-flagged, privately owned domestic

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

 
 
Maritime Contracts Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair 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: 0.2253 sec (4 req/sec)