View non-flash version
www.marinelink.com 95to the 300-ship navy) and Þ gured out a way to survive on what our facility could offer, the only way for us to generate sta- ble revenue was to go to where the work was; expansion was required.? And expand he did, with acquisitions as far north as Alaska and most recently the acquisition of Oregon Iron Works, a strategic buy which will launch Vigor into fabrication for industries outside of maritime. In total Vigor owns eight facil- ities, with all major facilities offering a mix of new construction and repair (ex-cept for the new Oregon facility, which is strictly fabrication).Vigor has been a driver for consoli- dation of maritime assets in the PaciÞ c Northwest, helping to spearhead what some term a resurgence of maritime activity in the region. ?Our consolida-tion was so that we could attain critical mass so that we could be a large enough company to effectively train, bring in good leaders, provide continuous em-ployment,? Foti said. ?That necessity is mother of much creativity.? ?Resurgence is an interesting word, be- cause in a sense consolidation has helped to create the resurgence,? said Foti. ?The industry shrank, and now I think you see healthier companies that are poised for growth. There are some solid companies that have always been solid. You have a really great shipyard out here in Dakota Creek that has a reputation well past the Northwest. You have a builder of small boats for the Coast Guard and other com-mercial owners called Kvichak Marine. These are strong builders that have their own proÞ le outside of the Northwest.? While Vigor?s Navy work has dwin- dled, it keeps busy with a mix of com-mercial and government work (Military Sealift Command); a mix of new con-struction and repair. ?Some level of con- solidation combined with a readying for potential work in the Beaufort and Chuk-chi Sea with Alaska O&G exploration, and I think you?ll see continued resur- gence around the construction of Þ sher/processor boats for the Alaskan Þ shing trade,? said Foti.The New Floating DrydockEarly in 2013 Vigor Industrial reached an agreement with Daoda Marine Heavy Industry Company (DDHI) to purchase a new ß oating drydock for $40 million. At 960 ft. long, with an inside width of 186 ft. and a lifting capacity of 80,000 long tons, it is touted to be the largest ß oating drydock in the United States.While the drydock hit some delays (when originally announced the antici-pated delivery was March 2014, but it will arrive on the West Coast later this month) when it does arrive there is busi-ness lined up and waiting.The new drydock, set to be stationed in Portland, will be 300 feet longer than the largest drydock Vigor currently owns, and it will allow Vigor to service the incoming generation of the U.S. Na-vy?s Military Sealift Command (MSC) dry cargo/ammunition ships, which are replacing some smaller MSC ammuni-tion, combat stores and fuel ships. The drydock will be large enough to service private vessels including post-Panamax cargo ships and cruise ships. The in- creased capacity will also help Vigor meet growing demand from the Arctic as oil and gas exploration and other ship operators take advantage of longer ice-free summers.STOCK (Purchase and Rental): s ! N C H O R S ! L L 4 Y P E S s ! N C H O R # H A I N A N D & I T T I N G S . E W A N D 5 S E D ' R A D E S 2 A N D 2 s - A R I N E & E N D E R S 0 N E U M A T I C A N D & O A M & I L L E D s 3 M I T 4 O W I N G " R A C K E T S 4 O W 0 L A T E S 4 O W I N G 3 H A C K L E S 4 O W I N G # H A I N S A N D 4 O W I N G 7 I R E S s , " . / 4 O W I N G 3 H A C K L E S / V A L 0 I N ! N C H O R , I N E ( O O K S h 0 E E 7 E E v 3 O C K E T S ( A W S E R 4 H I M B L E S - ! $ % ) . 4 ( % 5 3 ! s ( E A V Y , I F T 3 L I N G S , I F T $ E S I G N A N D % N G I N E E R I N G 3 E R V I C E S www.dcl-usa.com Email: sales@dcl-usa.com 0 H s & X ! V A I L A B L E MR #8 (90-97).indd 95MR #8 (90-97).indd 958/7/2014 3:45:20 PM8/7/2014 3:45:20 PM
