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Huntington Ingalls agrees to sell former Avondale Shipyard
Posted on 8/9/17 at 4:06 pm
Posted on 8/9/17 at 4:06 pm
quote:
Huntington Ingalls agrees to sell former Avondale Shipyard
LINK
Huntington Ingalls Industries has agreed to sell its former Avondale Shipyard in Louisiana, a site that turned out everything from amphibious ships to icebreakers, but fell victim to consolidation.
The news came in a recent conference call with Wall Street analysts during which company executives discussed second-quarter earnings.
"We signed a purchase and sale agreement for the sale of the property," said Chris Kastner, the company's chief financial officer. "While this is a positive step toward an eventual sale, a comprehensive due diligence process will now be initiated before the potential buyer is obligated to close."
The company has not disclosed the prospective buyer or terms of the proposed sale. The site had been for sale for two years.
"We have a long way to go in the due diligence process," Kastner said. "It could take a few months, (but) it's a positive first step."
The news was well received at the Jefferson Parish Economic Development Commission, where Avondale is located. Jefferson Parish — a parish in Louisiana is analogous to a county — bumps up against New Orleans, and the Avondale yard is within commuting distance from downtown.
SIAP
5
Posted on 8/9/17 at 4:08 pm to dewster
Anyone know who is buying it?
Posted on 8/9/17 at 4:09 pm to dewster
Was a perfect spot for a container terminal but they messed that up with the bridge
Posted on 8/9/17 at 4:11 pm to dewster
Can't believe it's taken this long and I hope the deal goes through.
That is a nice piece of property with the river, rail, and highway set up.
I can't see how it would be feasible to open it back up as a shipyard though
That is a nice piece of property with the river, rail, and highway set up.
I can't see how it would be feasible to open it back up as a shipyard though
This post was edited on 8/9/17 at 4:12 pm
Posted on 8/9/17 at 4:11 pm to michael corleone
Top Golf?
Posted on 8/9/17 at 4:12 pm to Jones
quote:
Was a perfect spot for a container terminal but they messed that up with the bridge
I'd like to see another shipyard of some kind, but that may not be in the realm of possibility.
Posted on 8/9/17 at 4:15 pm to dewster
Correct. There is no need for a navy shipyard as they don't have enough upcoming shipbuilding to justify it. Pretty sure most of the private industry ship building is done on the other side of the world now
Posted on 8/9/17 at 4:18 pm to dewster
quote:
I'd like to see another shipyard of some kind, but that may not be in the realm of possibility.
Shipyards are closing left and right. We've been working with the agents introducing them to all the shipyards and no one was interested. Gary Cheoust said no. Bosie Bollinger said no. Shane Guidry said no. Gulf Island is having their own problems. Unless some large yacht or large shipbuilding outfit from overseas I can't see it being a shipyard.
Possibly the Port Of NO or a new cruise terminal. Possibly Hornblower.
Maybe some sort of plant or grain elevator.
It's going to be interesting to see who it is and what they're going to do with it. It's a great piece of property and great location.
Posted on 8/9/17 at 4:23 pm to tgrbaitn08
The clean up/demo cost out there will be expensive as all hell. Most of the buildings are unusable and there is a lot of equipment that would need to be taken out. I'm guessing they just left the big cranes out there to rot away
Posted on 8/9/17 at 4:23 pm to tgrbaitn08
Tough for port of NOLA to compete with other ports much closer to gulf with no river pilot piracy to deal with
Posted on 8/9/17 at 4:43 pm to tgrbaitn08
quote:
Possibly the Port Of NO or a new cruise terminal
huey p isnt big enough.
Posted on 8/9/17 at 4:44 pm to Cosmo
quote:
Tough for port of NOLA to compete with other ports much closer to gulf with no river pilot piracy to deal with
LA pilots have an average wage compared to other US ports. Houston pilots make more.
Fwiw, pilotage is less than 1% of the cost to a shipping company for moving cargo
Posted on 8/9/17 at 5:44 pm to Jones
quote:
huey p isnt big enough.
How big are these newer, larger cruise ships? Avondale built some of the San Antonio Class Amphibious Transport Docks. They are about 680'.
Big-assed 800-850' bulk carriers a common sight as far north as Baton Rouge:
They even had the 700' FinnJet docked in Baton Rouge for a while.
This post was edited on 8/9/17 at 5:47 pm
Posted on 8/9/17 at 6:03 pm to member12
quote:The current cruise ships of average size are too high to get under the CCC much less the Huey which is 15 feet lower. Most of them are 900-1000 feet long thats not the problem. There are container ships that are over 1000' which are pretty average now that call on NO and barely fit under the CCC and would not make the Huey.
How big are these newer, larger cruise ships? Avondale built some of the San Antonio Class Amphibious Transport Docks. They are about 680'.
For proportion, One Shell Square is the tallest building NOLA and is only 6xx feet tall. Some of these ships are are like 50% longer than it is tall.
This post was edited on 8/9/17 at 6:06 pm
Posted on 8/9/17 at 6:03 pm to tgrbaitn08
I think a chemical plant is the most realistic option. Shipbuilding on that scale is all but dead in the USA right now. It's a shame to see such a unique industry dying and loosing its talent to other markets.
The costs to get that back into a full scale operational naval shipyard would be staggering.
The costs to get that back into a full scale operational naval shipyard would be staggering.
Posted on 8/9/17 at 6:06 pm to dewster
quote:
Huntington Ingalls
How come rich dudes always have wussy names like this?
Posted on 8/9/17 at 6:21 pm to member12
I'm talking height. Length is no biggie
Huey P is 153' and change at 0' river. Crescent City is 170' and the cruise ships have to stop before it.
They should have made the huey p higher and make it a container terminal.
Huey P is 153' and change at 0' river. Crescent City is 170' and the cruise ships have to stop before it.
They should have made the huey p higher and make it a container terminal.
Posted on 8/9/17 at 6:23 pm to Jones
container ships avoid going up the river especially with massive hubs along the east coast and Houston right across the gulf
Or at least that's my understanding of why it isn't a big industry in the New Orleans area
Or at least that's my understanding of why it isn't a big industry in the New Orleans area
Posted on 8/9/17 at 6:30 pm to Ed Osteen
quote:
Or at least that's my understanding of why it isn't a big industry in the New Orleans area
That's what I had read/heard. Houston especially went aggressive toward infastructure upgrades early on and won the container business away from Nola.
And yes, the trip up and down the river has to factor into business decision I would think.
Posted on 8/9/17 at 6:34 pm to notiger1997
Containers are mostly consumer goods and therefore population driven. They want to get them as close to where they are ultimately going by ship. That is still the cheapest way compared to rail and truck no matter how far upriver they have to go, The area just can't compete with places like Houston that feed all the way to Austin, San Antonio , Dallas etc.
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