April 30, 2017 1:37 AM ET

Machinery

Company Overview of Eastern Shipbuilding Group, Inc.

Company Overview

Eastern Shipbuilding Group, Inc. specializes in commercial steel and aluminum vessel construction and repair services. It builds offshore supply vessels and tugs, inland towboats, SWATH vessels, passenger vessels, Ro-Ro/passenger ferries, specialty vessels, inland transport vessels, barges, fireboats, research vessels, offshore construction vessels, dredges, high speed passenger vessels, fishing vessels, and more. The company also engages in industrial steel fabrication. It offers solutions for customers around the world. The company was founded in 1976 and is based in Panama City, Florida.

2200 Nelson Street

Panama City, FL 32401

United States

Founded in 1976

Phone:

850-763-1900

Fax:

850-763-7904

Key Executives for Eastern Shipbuilding Group, Inc.

Founder, Owner and Chief Executive Officer
Chief Financial Officer
Chief Operating Officer and Executive Vice President
General Counsel
Compensation as of Fiscal Year 2016.

Eastern Shipbuilding Group, Inc. Key Developments

Great Lakes Dredge & Dock Company, LLC, Executes Amendments to Contract with Eastern Shipbuilding Group, Inc

Great Lakes Dredge & Dock Company, LLC (GLDD LLC) executed an amendment to its contract for the construction of a dual mode articulated tug/barge trailing suction hopper dredge (the Vessel') with Eastern Shipbuilding Group, Inc. The amendment increases the purchase price of the vessel to an aggregate amount of approximately $159 million, which is inclusive of the costs of owner furnished equipment and information in connection with the construction of the vessel, adjustment based on the actual neat steel weight of the vessel, and agreed change orders. The amendment also extends the delivery date for the vessel; the vessel is expected to be delivered to GLDD LLC during the second quarter of 2017.

Eastern Shipbuilding Announces Launch of IMPALA CANTAGALLO River Towboat

Eastern Shipbuilding Group, Inc. has announced the launch of the IMPALA CANTAGALLO, an inland river towboat. This is the final vessel in a series of four Inland River Towboats for IWL River, Inc. This series of CT Marine designed 134 ft. ABS Classed Inland River Service towboats are Triple Screw with a retractable pilothouse, and all are currently under construction at Eastern's Allanton facility. The vessel deliveries are scheduled to start in late 2016 and continue into 2017.

Eastern Shipbuilding Group, Inc. Wins $110.29 Million Contract

The Coast Guard awarded a contract to Eastern Shipbuilding Group, Inc. for the production of the lead Offshore Patrol Cutter (OPC) and up to eight follow-on cutters. The total award was valued at $110.29 million. The contract has a potential value of $2.38 billion with options to produce nine cutters. The OPC acquisition will replace the service's aging fleet of medium endurance cutters, some that are in excess of 50 years old. Each OPC will feature a flight deck and advanced command, control, communications, computers, intelligence, surveillance and reconnaissance equipment. The OPC will provide a capability bridge between the National Security Cutter and the Fast Response Cutter, which operates closer to shore. The first OPC is expected to be delivered in fiscal year 2021; the service plans to build 25 OPCs. The Coast Guard is currently evaluating home porting options.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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