Tag Archives: Harbour Grace shipyard
This N.L. fishing vessel endured stormy seas and heartbreak before it ever touched salt water
Sitting in a thick leather chair on the bridge of his newly launched fishing vessel this week, Matthew Petten has the look of a man who’s endured an ocean full of adversity. His eyes are heavy from a lack of sleep, many days of intense stress, and sadness over the fact that his father, noted Port de Grave fisherman Dwight Petten, is not at his side for a milestone moment in his life, the launch of what is likely the most expensive and largest fishing vessel ever built in Newfoundland and Labrador for the modern inshore sector. The impressive new craft is 27 metres long, nearly 10 metres wide, and weighs a stout 400 tonnes. It’s capable of holding 100,000 pounds of crab in refrigerated seawater tanks, has a million-dollar engine room, the latest electronics package, and can accommodate up to nine crew members. Video, photos, more. >>click to read<< 07:09
Harbour Grace shipyard owners try to assure creditors, customers as workers brace for the worst
The owners of a busy shipyard in Harbour Grace are trying to assure creditors as they scramble to save a big employer in Conception Bay North. Meanwhile, dozens of workers are bracing as their jobs hang in the balance. “I got a mortgage. I got vehicle payments. I got two small children at home. A wife. There’s a lot at stake,” electrician’s helper Jake St. George said this week during his lunch break at Harbour Grace Ocean Enterprises. The shipyard has fallen on hard financial times, and a list of creditors owed nearly $16 million have been demanding their money. So in a bid to salvage the business and restructure the operation in order to avoid bankruptcy, the company was granted temporary protection from its creditors last week by the Supreme Court of Newfoundland and Labrador. >>click to read<< 16:42
Harbour Grace shipyard enters creditor protection as owners face financial headwinds
One of Newfoundland and Labrador’s largest shipyards, Harbour Grace Ocean Enterprises, has been granted court protection from its creditors as it struggles with a serious cash flow problem. The company is nearly $16 million in debt, and creditors have been demanding payment. Last week, the Supreme Court of Newfoundland and Labrador approved an order that temporarily protects the company from its creditors as it looks for a way forward. The court also appointed professional services firm PricewaterhouseCoopers to monitor the company. The shipyard employs 56 full-time employees and is described in court documents as “one of the largest marine vessel, repair, refit and construction businesses in Eastern Canada.” >>click to read<< 13:10
