|Davie Yard on the St Lawrence River near Quebec City|
Davie Shipyard. The venerable shipyard, established 192 years ago sits across from Quebec City, on the St
air about them, recently delivering a complex offshore construction vessel to
European operators, with two more being completed, and two other ships on
contract. Running such a capital intensive enterprise such as a shipyard is no
easy feat, and certainly requires deep pockets.
funded by the national coffers. Shipyards are a complex machine, and are an important
resource to any national economy. Davie has had its share of government money
poured into it over the last thirty years. These types of hard financials facts
are actually closely guarded secrets in the shipping industry. They deal with
a ‘whack’ of issues, such as international trade and protectionism, and nobody
really wants anyone to know just what the figures actually are, as their
impacts may be unacceptable socially.
dose of assumptions, I surmise that the deep pockets supporting this phoenix,
that is the new Davie Yard could be the massive, US based, private agri-food
very hard to follow, but at least at some point CarVal Investors, the
investment arm of the US giant, is involved in the Cecon ships, and more. CarVal
currently has USD10 billion under
management in several portfolios, including Special Opportunities…
CarVal Investors, an independently managed subsidiary of Cargill
Incorporated, is a leading global alternative investment fund manager focused
on distressed and credit-intensive assets and market inefficiencies.
CarVal Investors directs investments across four asset classes: Loan
Portfolios, Corporate Securities, Real Estate and Special Opportunities.
Monaco based VGroup. VGroup has numerous ship centric ventures, most notably
VShips – a worldwide ship management company – and could be characterize as
In 2011, VGroup was bought by OMERS – the Ontario Municipal Employees Retirement Scheme – the bus drivers, city clerks, etc, of Ontario. Here is my blog post about it.
involved, which are constantly changing, most are unrecognizable in the
traditional marine industry. But numerous indicators would suggest that
Cargill, is the primary backers of the yard, with the technical expertise done
just my curiosity? However as a taxpayer I always like to now what’s going on
with national assets such as these. I have been contemplating the impacts of
this more recently, as I watch the depression continue, and the resulting
“austerity” measures being imposed on the masses.
even accelerated, to enrich themselves using these national assets such as
shipyards and ports. But this is for another blog entry, later.