Palmer Johnson yard in Georgia sold

Author:
Updated:
Original:

An oil company recently purchased a former Palmer Johnson shipyard located on the Savannah River in Georgia for $10 million.

Colonial Oil will use the additional river frontage to ease space constraints it faces in loading barges used to fuel ships in the harbor, the Savannah Morning News reports. It also plans to repair and upgrade the facility, which boasts one of the largest dry docks on the East Coast, in order to lease it to a marine business.

"The property enables us to load barges at a berth that will not be in conflict with the shipping traffic," Bill Baker, Colonial's vice president of operations, told the newspaper. "As for the shipyard, we're not really sure what we'll do with it long-term. But we know it has value as a marine repair facility."

The facility has been largely dormant since its most recent owner, Global Ship Systems, went under in 2007. The locally owned group purchased the shipyard from Palmer Johnson in 2004 for $14 million, but equipment failures doomed the enterprise and its lender foreclosed on the property in late 2007.

The lender leased the property to a small local company, Savannah MegaYacht, in April 2009. That group, which included veteran shipbuilder Frank Bomberger, discontinued its operations three months ago after the property went under contract to Colonial, according to the report.

Click here for the full article.

Related

MRAA Board Contributes to BoatPAC

Every board member contributed to the non-partisan political action committee, which works with congressional members who recognize the importance of boating.

Educator Training Conference Agenda Announced

The ABYC Foundation’s virtual conference is scheduled for July 20-22, with speakers covering a host of topics around creating the future workforce.

RIMTA Awarded $30K Grant

The financial support will go toward its fiberglass boat recycling pilot project.

Sandy Hook Yacht Sales adds Intrepid

The dealership and brokerage firm has six locations in New Jersey and Florida.

Everglades Expands Executive Team

The Edgewater, Fla.-based manufacturer adds positions in finance, sales and marketing and operations.

Heed Caution While Refueling

Ethanol can be back in a big way, and insufficent labeling at the pumps could lead to problems for your marine powerplant. And the MRAA’s voices support for the 30 by 30 initaitive.

Training the Next Generation

Crest Pontoons will donate a complete boat and trailer to a local high school’s raffle to raise money for its vocational programs.

An “Above Average” Hurricane Season

BoatUS wants to help boaters get ready for the 2021 Atlantic hurricane season, which begins June 1.