JANUARY 14, 2013 — Vigor Industrial has reached an agreement with Daoda Marine Heavy Industry Company (DDHI) to purchase a new floating dry dock for $40 million. At 960 feet long, with an inside width of 186 feet and a lifting capacity of 80,000 long tons, it will be the largest floating dry dock in the United States. (Our picture shows a 30,000 ton class DDHI floating dock)
The new dry dock, set to be stationed in Portland, will be 300 feet longer than the largest dry dock Vigor currently owns. It will be one and half times wider and will be able to lift more than triple the weight.
"We decided now is the time to buy because demand to service large vessels is growing and large dry dock capacity in proximity to the U.S. West Coast has diminished," said Vigor Industrial CEO Frank Foti.
West Coast ship repair capacity took its biggest hit in 2001 when Portland's giant 984 ft x 184 ft then Dry Dock 4 was sold. That dock is now the centerpiece of Grand Bahamas Shipyard.
The new Portland dry dock will be 300 feet longer than the largest dry dock Vigor currently owns. It will be one and half times wider and will be able to lift more than triple the weight.
This new capacity will allow Vigor to service the incoming generation of the U.S. Navy's Military Sealift Command (MSC) dry cargo/ammunition ships, which are replacing some smaller MSC ammunition, combat stores and fuel ships.
The dry dock will be large enough to service commercial vessels including post-Panamax cargo ships and cruise ships. The increased 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.
DDHI will build the dry dock at its shipyard in Jiangsu Provence, China, for delivery by March 2014. It will be towed to Portland in three pieces for assembly, and its first job will likely be to prepare Vigor's largest current Portland-based dry dock for use at Vigor's Seattle facility This would provide the Seattle shipyard with a new capacity to service Panamax-sized vessels.
"We are thrilled that Vigor chose us as a partner for this major capital investment," said Victor Huang, Vice President of DDHI. "Our world-class facilities and experience allow us to provide the best quality dry dock at the most competitive price."
"We look forward to working with DDHI on this critical project," Mr. Foti said. "The new dry dock will allow us to meet future demand, grow our business and put more people to work in the Pacific Northwest."
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