Previous Story
CPA, Seafix agree on ship-repair facility
|
Posted on Jan 19 1999
The Commonwealth Ports Authority and Seafix Inc. are set to sign a Memorandum of Understanding to pave the way for the development of a marine repair facility on the island.
Seafix has chosen to lease Echo Dock from CPA located at Saipan Harbor to become the site of the ship repair facility.
Earlier, the firm wanted to develop the seaplane ramp in Lower Base and the South end of the newly renovated commercial dock now occupied by Samsung.
CPA financial consultant Rex Palacios has cautioned the ports authority’s management against making hasty decisions in giving companies exclusive rights to some properties owned by the agency because it might not provide the needed revenue.
Palacios cited the grant of lease to Tinian Dynasty for the Tinian ferry which unfortunately has failed to generate the expected revenue due to the downturn in tourist arrivals.
Seafix Inc., a subsidiary of Ambyth Shipping Micronesia Inc., a prime shipping agency in the Pacific Rim, currently undertakes shoreside fabrication work and shipboard welding, painting and engine overhauls for both commercial ships and U.S. Navy craft.
Executives of Seafix met with the Gov. Pedro P. Tenorio to seek his assistance in looking for a suitable property that will be available for lease. If Seafix fails to lease a property here, Saipan may have to consider relocating in the Philippines or Singapore.
