How long will it take Gulf Coast shipyards to return to pre-Katrina activity levels?

3 months
6 months
9 months
1 year
More than 1 year

October 4, 2005

Newbuilding order for Port Weller

Canada's Port Weller Dry Docks has booked its first newbuilding order in many years.

Alan Thoms, President and CEO of Port Weller Dry Docks' parent ,Canadian Shipbuilding and Engineering, says that a strategic alliance between CS&E and Peters Kampen Shipyards of The Netherlands has resulted in the signing of two contracts for two new 6500 Jumbo 1A Class vessels plus two hulls, with an option for four more ships

The two contracts combined are worth up to Canadian $100 million (US $85 million) and will employ 250 shipbuilders for two years at CS&E's Port Weller Dry Docks in St. Catharines, Ontario.

The new design, engineered by Peters Kampen Shipyards is a multi-purpose vessel of the type widely used throughout Europe and around the world.

The new vessels have been ordered by Carisbrooke Shipping of the United Kingdom and "will be used on the marine highways of the European Coast to move steel products, paper and other cargo," said Willem Wester, owner of Carisbrooke. "We look forward to a close relationship with CS&E and Peters for years to come," Wester added.

Geert L. van Voorn, Managing Director of Peters Kampen, said, "We studied the market in North America with the help of The St. Lawrence Seaway Management Corporation for two years, and as a result see enormous opportunity in short-sea shipping and feeder vessels here in North America. This alliance with CS&E will help both organizations capitalize on that opportunity."

Geert L. van Voorn made the announcement at a HWY H2O Container Conference in Toronto, organized by The St. Lawrence Seaway Management Corporation, and sponsored by The St. Lawrence Seaway Development Corporation, the Port of Hamilton and the Port of Toronto.

"The Seaway's HWY H2O initiative was the catalyst for the deal," said Charlie Payne, CS&E's Vice-President of Marketing.

"HWY H2O has brought a new focus worldwide to the potential of the entire Great Lakes, St. Lawrence marine transportation system," said Alan Thoms."

Aldert van Nieuwkoop, Director of Business Development for the St. Lawrence Seaway Management Corporation, who was instrumental in establishing this strategic alliance between CS&E and Peters Kampen, said, "This alliance builds competitive shipbuilding capacity in short-sea shipping vessels here in the Great Lakes St. Lawrence Waterway. Developing this competitive capacity is essential to the long-term success of short-sea shipping in North America. This is a great step forward."

The deal is subject to Industry Canada's Structured Financing Facility (SFF)