Americraft Marine, a subsidiary of the Libra Group, announced the acquisition of the St. Johns Ship Building, which specializes in the construction and repair of ships that comply with the “Jones Act”, including ships used to service offshore wind turbines.
Based in Palatka, Florida near Jacksonville, St. Johns Ship Building pioneers the construction and repair of a wide variety of steel and aluminum vessels, including ferries, tugs, barges and general cargo vessels. It is pointed out that St. Johns Ship Building is one of the few U.S. shipyards to build vessels that support and serve offshore wind farms.
Americraft Marine is a subsidiary of Libra Group, a private international business group whose subsidiaries own and manage assets in more than 50 countries. The announcement comes at a time when there is a great need for ships that comply with the “Jones Act”. Shipbuilding in the US has declined in recent years. In addition, significant shipbuilding capacity will be needed over the next 10-15 years to support the growing demand for renewable energy vessels. On June 6, US President Joe Biden invoked the Defense Production Act to address the urgent need for US-made clean energy technologies.
This acquisition, in the works for a long time, utilizes the proven capabilities of the St. Johns Ship Building in the construction of offshore wind farm service ships, based on the experience of the Libra Group in renewable energy sources and the knowledge it has in the shipping industry.
With facilities that include a storm protection zone of 100 acres inland, with a floating tank of 850 tons, the shipyard St. Johns Ship Building is able to accelerate the production of boats that comply with the “Jones Act”, in particular the construction and maintenance of boats supporting offshore wind farms. Americraft Marine intends to further enhance the shipbuilding capacity of St. Johns Ship Building, through the training of the workforce, utilizing the proven know-how of the yard with the aim of creating a yard that focuses on the future and will be the best in its class.
As a group with over 45 years of maritime heritage through our original subsidiary Lomar Shipping, as well as significant renewable energy experience through four clean energy subsidiaries, we are proud to invest in the future of US competitiveness and energy security. “, said the President and CEO of the Libra Group Mr. George M. Logothetis.
With capable leaders with decades of experience in the shipping industry and existing customer relationships, Americraft Marine and the St. Johns Ship Building will build and strengthen the U.S. fleet to meet government and private customer needs while supporting economical and clean energy future of the country “.
The shipbuilding sector is critical to the strong US industrial economy and provides financial opportunities to coastal communities through long-term jobs. It is also vital to US energy independence, which has become more critical due to ongoing trade tensions, the geopolitical landscape and the economic climate.
“Americraft Marine is proud to have acquired the St. Johns Ship Building, which has the right leadership and skilled workforce to accelerate the future of the US shipbuilding industry and promote the urgent need for Jones-compliant ships.” , said Omear Khalid, CEO of Americraft Marine. “Our goal is simple: to build a first-class shipyard that complies with Jones Law. Americraft Marine will provide stable jobs, invest in workforce training and leverage St. Johns’s proven know-how as well as historic shipping legacy of the Libra Group “.
The acquisition of the shipyard St. Johns Ship Building is the first for Americraft Marine, which looks forward to future acquisitions and organic growth that meets the absolute need for modern and state-of-the-art vessels, including eco-friendly ships, as older Jones-compliant ships are withdrawn. Americraft Marine prioritizes sustainable investments that underpin US leadership in clean energy by building and maintaining vessels that support Renewable Energy projects.
Source: Capital
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