May 15, 1987
Japan plans to build a floating complex of shops, automated offices and a hotel in Nagasaki in a bid to save the recession-hit shipbuilding industry. Officials of the Transport Ministry said the 108,000-square-foot steel structure, first of its kind in the world, would carry two 12-story buildings and cost more than $130 million. Work is expected to start next year and end in 1990.
July 6, 1990 |
The Exxon Valdez, the ship that caused the nation's worst oil spill when it ran aground in Alaskan waters last year, will be returned to service this summer, officials said. The $30-million repair job on the vessel is nearing completion at the National Steel and Shipbuilding Co. and Exxon Shipping Co. President Gus Elmer is expected today to announce plans for returning the tanker to service, after a two-week trial run set to begin July 20.
August 1, 1991 |
A group led by Los Angeles-based investor Burton Borman has succeeded in a proxy battle to take over Seattle-based Todd Shipyards, which two years ago closed its San Pedro shipbuilding facility. Todd and Borman announced that they had agreed on a slate of nominees for a board scheduled to be elected at a special shareholders' meeting Sept. 16. Under the agreement, Borman is expected to replace David Wallace as chairman and assume the duties of chief executive from Hans Schaefer.
August 24, 1988 |
One of the West Coast's largest shipbuilding and tugboat companies emerged from federal bankruptcy protection Tuesday when family ownership was transferred to employees. Unimar International Inc., formerly WFI Industries, began operations here with its 400 employees holding 73% of the company's stock under a reorganization orchestrated by Drexel Burnham Lambert Inc.
May 13, 1988 |
Union officials at a San Diego shipyard where nine workers were injured charged Thursday that a hoist that has never been inspected broke apart, causing a 22-ton propeller shaft that was being installed on a Navy destroyer to plunge into the group of workers. The accident--which left three men hospitalized--occurred Wednesday at the National Steel & Shipbuilding Co. yard as workers were aligning the shaft, said Fred Hallett, spokesman and vice president of finance for the firm.
November 20, 1989 |
Massive repairs to the crippled Exxon Valdez, the tanker responsible for the largest oil spill in U.S. history, are proceeding ahead of schedule, according to the National Steel & Shipbuilding Co. in San Diego. The $25 million in repairs, which include replacing 3,400 tons of steel in the ship's hull, are unprecedented in magnitude, company officials say.
October 7, 1998 |
American Classic Voyages Inc., the cruise ship operator controlled by billionaire investor Sam Zell, said it signed a letter of intent for Litton Industries Inc. to build two cruise ships, with options for four more. Each ship would cost about $400 million and would carry 1,900 passengers. Litton, based in Woodland Hills, is an electronics maker and defense contractor. The ships would be built at Litton's Ingalls Shipbuilding Division in Pascagoula, Miss.
July 8, 1989 |
The Todd Shipyard at San Pedro, last shipbuilder operating at the Los Angeles Harbor, will close after 72 years and lay off its already emaciated work force of about 400, it was announced Friday. The yard has failed in recent years to land any new Navy construction contracts, and like American shipyards on all coasts it has been uncompetitive in bidding against low-wage foreign yards to build commercial ships. Its owner, Todd Shipyards Corp. of Jersey City, N.J.