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Todd Shipyards
Seattle, Washington

The privately owned Vigor Industrial acquired the assets of the Todd Pacific stock company in 2011, with the stewards of Todd successfully securing purchase by a company dedicated to continuing shipyard operations in the Northwest. Harbor Island is heading towards its second century of maritime service with specialized subsidiaries including Vigor Shipyards (primarily Navy and Coast Guard programs), US Fab (new-build) and Vigor Marine (ship repair and modernization).

Todd Pacific Shipyard Corporation repairs and overhauls a wide range of US Navy and USCG surface ships. Certified as a Master Ship Repair Agreement holder with the Navy (MSRA), Todd is the principal yard to US Navy ships and US Coast Guard Cutters in the Northwest. Work accomplished ranges from routine scheduled ship maintenance and emergency repairs to extensive overhaul and new installations (ship alterations). The number of persons employed by the Company varies considerably from time to time depending primarily on the level of Shipyard activity. Employment averaged approximately 800 during fiscal year 2001 and totaled approximately 500 employees on April 1, 2001.

Todd completed the Navy's first ever nine-week availability on time and on budget. In 1997 through 1999, Todd's skilled work force completed extensive work on USS Ford (FFG-54), USS Ray (DD-971), USCGC Polar Sea and USCGC Polar Star. Todd's craftsmen conduct long-term, life cycle maintenance on all Puget Sound home ported fast combat support ships (AOE's), (USS Camden, USS Rainier, USS Sacramento and USS Bridge). Todd also was awarded the multi year contract for non-nuclear maintenance of Aircraft Carriers USS Vinson, USS Lincoln, and USS Stennis.

During the first quarter of fiscal year 2001, the Company was awarded, by the Department of the Navy on a sole source basis, a five year, cost-type contract for the repair and maintenance of six surface combatant class vessels (frigates and destroyers) stationed in the Puget Sound area. Although the Navy has not released a notional value of the maintenance work, the Company believes that the value may be approximately $60 million to $75 million if all options are exercised. Work on this contract is being performed primarily in the Company's Seattle shipyard.

In May 1996, the Company was awarded a cost-type contract for phased maintenance repairs to four Navy AOE class supply ships stationed in the Puget Sound area during a five year availability schedule. The contract, which has been performed primarily at the Company's Seattle shipyard, had an original, notional value of $79 million. Based on current availability schedules the contract is anticipated to conclude during the second quarter of the Company's fiscal year 2002. In response to the impending conclusion of the current contract, the Navy announced during the fourth quarter of the Company's fiscal year 2001 its intention to renew the existing AOE contract with the Company on a sole source basis for an additional six years. This contract will represent the fourth consecutive, multi-year contract that the Company has been awarded by the Navy on the AOE class vessels. The three previous contracts, which were each five years in duration, were all awarded on a competitive basis. Subsequent to the end of fiscal year 2001, the Company completed negotiations with the Navy and was awarded a renewal contract on June 15, 2001. The notional value of this contract is expected to be approximately $180 million over a six-year period if all options are exercised.

In January 1999, the Department of the Navy awarded the Company a five-year cost-type contract for Planned Incremental Availability ("PIA") phased maintenance on three CVN class aircraft carriers. The notional value for this five-year contract is approximately $100 million if all options are exercised. Work on this contract is currently being performed at the Puget Sound Naval Shipyard, located in remerton, Washington.

Todd Shipyards Corporation was organized in 1916 and has operated a shipyard in Seattle, Washington since incorporation. The Company operates the Shipyard through its wholly owned subsidiary Todd Pacific Shipyards Corporation. Todd Pacific, historically, has been engaged in the repair/overhaul, conversion and construction of commercial and military ships and vessels. Throughout much of the Company's history, a substantial portion of its revenues and profits were attributable to long-term United States Government contracts. However, in the late 1980's a significant decline in the annual shipbuilding budgets of the Department of the Navy greatly reduced the Company's bidding opportunities for long-term Government contracts.

Todd Pacific Shipyards of Seattle, which has been in business for since 1916, engages in ship repair and new construction. The company has facilities capable of dry-docking vessels up to 800 feet in length and beam of 110 feet, and capable of berthing anything that can get into Puget Sound. Major customers/markets includ repair of barges, tug boats, fishing vessels, container ships and other ships, including US Navy and Washington State Ferries.

Todd Shipyards Corporation was started in June 1916 with the backing of the three financiers: Bertron, Grecisms & Company; White, Weld & Company; and William H. Todd. The organization itself was a product of the incorporation of three established companies: Robins Dry Dock & Repair Company, Tietjen & Long Dry Dock Company, and the Seattle Construction & Dry Dock Company. The namesake of the company, William Henry Todd, joined the primary Erie Basin shipbuilding operators, the John N. Robins Company, in 1895 as the boilermaker. Todd's diligence and business prowess landed him in the president's seat of the company on December 31, 1909.

Todd Corporation has experienced much success over the years. However, being in the shipbuilding industries many of its yards have encountered the ebb and flow of maritime and naval demands. The war times always brought much action to Todd shipyards usually calling for expansion. Todd was rescued by massive orders on the onset of the Second World War. Between December 7, 1941 and August 31, 1945 Todd yards were busy with building, converting, or repairing ships: 23,450 ships were handled among the five shipyards and five repair yards. Of the many ships that saw the docks of Todd, there were large and small and over forty military and commercial types. The most impressive statistic was the aggregate tonnage, measured at 117,500,000.

The Seattle yard had earned tremendous recognition for pioneering iron and steel shipbuilding in the Pacific Northwest. The first steel ship built on the Puget Sound came from this yard in 1897. Also, in the same year, the yard produced twelve 176-foot sternwheel river steamers to meet the demands of the Klondike gold rush. Its greatest accomplishment, however, was the construction of a first-class battleship, the USS Nebraska, a 15,000-ton, 435-foot three-funneled vessel launched on October 7, 1904.

Employment in recent years has varied between over 800 to under 500. The key to bringing more work to the company is having strong marketing internationally. They are already starting to address this issue through ShipNet. ShipNet is part of the Community Diversification Program at CTED and is a response to the decline in Defense and Navy spending in the region. This decline has had a very large impact on the ship building/ship repair industry. ShipNet represents common efforts to increase the competitiveness of the industry in Washington State. About 30 individuals are active representing businesses and unions, including Todd. The project is industry driven and is focusing on building upon existing strengths. They are putting effort into better marketing the strengths and capabilities of the region internationally and the first step is to survey businesses to measure their capabilities. From this study ShipNet will develop joint marketing materials and build networks of firms which can cooperate together to compete for jobs outside the region which they wouldn't be able to get individually. ShipNet will also conduct a market study of international opportunities, and has applied for a $1 million grant from Maritech to implement their work program.

Washington State Ferries received funding for operating costs for the second and third new Jumbo ferries, which are under construction at Seattle's Todd Shipyards and scheduled to begin service during the 1997-99 biennium. The ships have a capacity of 2,500 passengers and 218 cars, compared to 2,000 people and 206 cars on the first-generation Jumbos. They're just 20 feet longer that the old Jumbos, but at 460 feet they were the longest ferry of their type in North America.

An industry goal was for Todd to come out of the ferry contract with different and more competitive production methods. The project will likely revive the flagging shipbuilding industry, generating hundreds of skilled and semi-skilled jobs over the next several years. Regional ship repair firms also anticipate a boost to their industry from servicing the expanding fleet at the US Naval Home Port in Everett, now one of the only two remaining naval bases on the West Coast.

In the late 1990s Todd won a five-year, $79 million maintenance contract with the Navy. And in 2005 it won a contract worth up to $133 million to repair aircraft carriers based at Puget Sound. This announcement came after Todd laid off 500 workers because the Navy canceled plans to overhaul a large supply ship. As of early 2011, Todd employed about 800 workers. At that time the Coast Guard icebreaker Healy was at Todd for major repairs under a contract worth $12.5 million. With half of Todd's income coming from repairing Navy ships, Todd has satellite operations at the Bremerton and Everett naval shipyards. In large measure due to government contracts, Todd posted first-quarter revenue in 2009 of $34.6 million a 90 percent increase from the same period the year before.

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Page last modified: 16-04-2012 13:02:30 ZULU