Cammell Laird, Cascade General Enter Agreement
Consolidation, which has swept the maritime markets for much of the last decade, continued last month in the ship repair and conversion segment, as two of the premier players in the U.S. and U.K. repair and conversion markets announced plans to work together.
Cammell Laird, which has only recently completed an investment deal in Marseilles, has increased its involvement in the overseas repair and conversion industries by taking a $7.7 million (49 percent) equity stake in a new holding company along with U.S. West Coast ship repairer Cascade General.
The deal has an option for Cammell Laird to take a controlling interest within the next two years.
It will allow the new company to purchase the repair facility (freehold and docks) at Portland, Ore., the largest single repair facility on the U.S. West Coast. The facility is currently owned by Portland Port Authority and operated by Cascade General.
Cascade General has leased the facility from Portland Port Authority since 1995, when it became the sole shiprepairing company in the port. Since then, Frank Foti, chairman of Cascade General, and future head of the new operation, has been looking to complete the buy-out. The yard currently boasts an annual turnover of about $100 million, and wins virtually half of all commercial contracts that are placed with U.S. West Coast shiprepair yards. There are three main markets in which the yard operates — passenger vessels (the many cruise vessels now operating on the Alaskan service), tankers (the many large tankers operating between Alaskan terminals and U.S. refineries) and U.S.
Navy and auxiliary market. Last year the yard carried out a complicated conversion project involving a Drillship for Global Marine. There is also a very active voyage repair market for ships, especially bulk carriers, calling at ports in the Columbia River area. This is an international business and has resulted in the yard winning a number of drydocking contracts following successful voyage repair projects. The yard operates three floating docks with lifting capacities of 87,000 tons, 982 x 185 ft.
(299.3 m x 56.4 m); 27,000 tons, 661 x 114 ft. (201.5m x 34.8 m); and 15,000 tons, 982 x 185 ft. (182.3 m x 26.8 m).
Alongside berthage stands at 7,631 ft.
(2,326 m), with a maximum draft of 40 ft. (12.2 m).
Circle 56 on Reader Service Card
Other stories from October 2000 issue
- Danish Two-Stroke Bastion page: 8
- Powering-Up the Finnish Range page: 10
- Marine Employment Resource Debuts page: 13
- From E-Biz to E-Bust: Is Online Chartering and Sale and Purchase Possible? page: 15
- MaritimeDirect Strengthens Its E-Commerce Team page: 16
- Maritime Records and Contracts: Electronically Signed, Sealed, Delivered and Maintained? page: 17
- Maritime Industry Mourns Congressman Bateman page: 24
- BP Takes Three DH Tankers From NASSCO page: 26
- New Technology on Display at Fish Expo I WorkBoat Atlantic page: 27
- South America Gets "Kit" Traelers page: 27
- SSPC Reaches Half-Century Mark page: 29
- New Hempel Coatings Meets Future Requirements page: 31
- Ohio Innovator page: 34
- Corrosion Control Electronically page: 34
- Improving Fuel Efficiency and Maintenance Time Within The Chevron Fleet page: 36
- Litton Avondale Holds Keel Laying Ceremony page: 37
- The Abandoned Shipwreck Act: Useful Tool for Historic Preservation or Paper Tiger? page: 38
- FGH Receives $52 Million Worth Of Orders page: 42
- A Helping Hand In Stralsund page: 43
- SWM Uses Automation To Speed Workflow page: 44
- ShipRepair & Conversion Is A Maritime Exclusive page: 47
- Cammell Laird, Cascade General Enter Agreement page: 48
- Millennium's Vibration Problem Not Related To Gas Turbines page: 50
- On The Waterfront With NNS' Director Of Ship Repair page: 52
- AMHS Ferry Visits Bellingham Bay Shipyard page: 53
- Toftejorg Features Cleaning Concept For Mud Tanks page: 54
- Fleetguard's Centriguard Reduces Emissions page: 54
- Near Miss Caused By Deficient Air Pipes page: 57
- After 25 Years, Smit International Keeps Evolving page: 58
- Atlantic Marine Keeps Docks Working page: 60
- H&W Gets Its $31M From Global Marine page: 60
- National Safety Council To Hold Workshops page: 61
- Good Luck Chartering The "Rust Bucket of the Month" page: 62
- Eyes Onboard page: 62
- Subsea Installation, Heavy Lift And Transport Vessels Show Muscle In FPSO Market page: 64
- Great Lakes' Biggest Dual-Mode ITB Begins Service page: 65
- Hike Metal Constructs Boat For Pilotage Authority page: 65
- Kvichak Delivers To Pilots Association page: 66
- Gladding-Hearn Delivers First Of Two To Charleston Pilots page: 70
- Bollinger To Construct Supply Boat For Lytal Ocean page: 71
- Latest Developments in Engine Room Simulators page: 74
- U.S. Navy Keeps Ship-Shape With Software page: 76
- OSL, Philadelphia Gear Form Alliance page: 79