Mobile, AL–World Marine, LLC, a leader in shipyard services on the Gulf Coast, completed a transaction divesting its Pascagoula shipyard on August 15, 2017. World Marine purchased the assets of Signal International in December of 2015, including shipyards in Pascagoula, Mississippi and Mobile, Alabama.
World Marine’s Pascagoula shipyard historically focused on offshore rig repair and conversions. With the sustained reduction in rig repair work resulting from the downturn in the offshore oil exploration market, World Marine made the strategic decision to sell the Pascagoula facility. This divestiture will allow World Marine to focus exclusively on activities in its Mobile, Alabama facility.
The divestiture of the Mississippi-based shipyard has been accompanied by a restructuring of World Marine’s management. The corporate offices overseeing the two shipyards have been dissolved, with Robert Beckmann, a shipyard management veteran working in the Mobile facility since 1988, continuing to lead World Marine of Alabama. “With the tightened cash flow low oil prices have brought to all businesses supporting the offshore oil industry, it is important for our company to focus on the business at hand, and most importantly, continue to safely complete the on-time and cost-competitive drydocking and marine repair and fabrication work our facility in Mobile has been successfully accomplishing for decades,” stated Beckmann.
World Marine of Alabama (WMA) is a full-service shipyard located in Mobile, Alabama. The facility boasts a commercially certified Panamax-capacity dry dock, deep water berths for vessels up to 1,000 feet, as well as many other key assets including a full-service machine shop, smaller 4,200-ton dry dock and 100-ton floating crane.
Recently, WMA has completed drydockings, repairs and other services for government and commercial customers, including the United States Coast Guard, NASA and the Army Corps of Engineers, as well as companies such as Dutra, Manson Construction, Signet Maritime, Express Marine, Seabulk Towing and Crimson Shipping. Most recently, WMA completed an intensive 49-day drydocking project for the seventh special survey of Dutra’s Dredge Stuyvesant, including over 60 tons of steel renewals, as well as full work packages for pipe, machinery, tank cleaning and coating crews.