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Marine Log

March 1, 2006

Port Weller gets newbuilding order

Alan Thoms, President and CEO of Canadian Shipbuilding and Engineering, today announced that a $45-million order for three new vessels will keep the St. Catharines, Ontario, shipyard operating at full employment for the next two years.

The deal exercises three of the four options of the contract announced last October that included two hulls and two 6500 Jumbo 1A Class vessels for use in the European market.

The order will employ 250 shipbuilders until the end of 2007 at CS&E's Port Weller Dry Docks in St. Catharines, Ontario.

These contracts are the result of a strategic alliance announced last September between CS&E and Peters Kampen Shipyards of The Netherlands.

"These vessels are breathing new life, energy and extraordinary opportunity into Port Weller," said Thoms. "We see the potential these vessels have both domestically and internationally and it's tremendous."

The ships are a multi-purpose design widely used throughout Europe and around the world. They have been ordered by the U.K. firm, Carisbrooke Shipping.

"We see a wealth of opportunity in short-sea shipping and feeder vessels in North America," says Geert L. van Voorn, Managing Director of Peters Kampen. "From both a short and long term perspective the yard looks great. We see a bright future for Port Weller with a full order book."

Aldert van Nieuwkoop, Director of Business Development for the St. Lawrence Seaway Management Corporation, was instrumental in ushering in the deal between Peters Kampen and CS&E.

"This partnership bolsters competitive shipbuilding capacity in short-sea shipping vessels here in the Great Lakes St. Lawrence Waterway and sets the stage for Canadian built and operated modern short sea shipping capacity to be placed on Hwy H2O, " says van Nieuwkoop. "We are very pleased that our role as catalyst has assisted in the confirmation of such a significant newbuild order for PWDD."

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