Skip to main content

Tall-ship project gains donation from R.I. bank

BankNewport donated $1,200 to the Oliver Hazard Perry Rhode Island project on behalf of the bank's consumer boat loan program.

The bank’s donation was based on the number of boat loans it originated from March through December 2012.

BankNewport previously extended grants totaling $35,000 to Oliver Hazard Perry Rhode Island — $25,000 in 2008 for the acquisition and shipbuilding plan for the vessel and $10,000 in 2010 in support of the Oliver Hazard Perry Rhode Island headquarters at the Buliod-Perry House on Washington Square in Newport.

“BankNewport is proud of its long partnership with the Oliver Hazard Perry Rhode Island organization,” BankNewport executive vice president for commercial lending Leland R. Merrill Jr. said in a statement. “We commend their unwavering commitment to construct this sailing school vessel, a significant economic development, educational, and cultural benefit for Newport and the state.”

Last month, Oliver Hazard Perry Rhode Island announced that the 196-foot, three-masted, square-rigged tall ship was given a permanent home on the north side of a new 240-foot fixed pier that has been designated as part of the scheduled improvements to Fort Adams State Park in Newport.

The SSV Oliver Hazard Perry, which is under construction at Senesco Marine in North Kingstown, R.I., will be the first oceangoing full-rigged ship to be built in the United States in more than 100 years. The ship’s mission is to be Rhode Island’s flagship non-profit maritime campus, offering experience-based core learning opportunities to a diverse student population, including those with disabilities.

Oliver Hazard Perry Rhode Island has raised $6.5 million in donations; however, more than $2.5 million must still be raised to complete the ship and begin its first year of operations.

Click here for the full release.

Related

1_RIGHWHALES

Industry Pushes Back Against Speed Restrictions

A NOAA Fisheries proposal would restrict boats 35 feet and larger to a 10-knot speed limit along the East Coast to protect right whales from vessel strikes.

4_MAGONIS

Magonis Opens Connecticut Office

The Spain-based, electric-boat builder offers an 18-footer that’s available with motors from Torqeedo and Mag Power.

01_YOUTH.FISHING

Bill Seeks to Increase Youth Fishing

The bipartisan Coastal Fishing Program Act of 2022 would ease barriers to accessing the outdoors in underserved communities.

Norm

Fall Is in Full Swing

With the autumnal equinox ushering in a new season today, the fall boat-show circuit is in high gear. Here are some recent reports and a look at what’s to come.

3_MANUFACTURER.CONFIDENCE

Manufacturer Confidence Drops

Still, U.S. builders remain largely optimistic despite ongoing constraints with the supply chain and workforce, as well as yesterday’s interest rate hike.

1_TEMO.DEFENDER

Defender Adds TEMO Electric Boat Motor

Defender Industries is the official U.S. dealer for the French company’s lightweight, portable electric motors.

2_TWIN.DISC.BELGIUM

Twin Disc Sells Belgium Facility

The transmission manufacturer is still using the facility in a leaseback transaction as it looks to reduce costs.