Plipdeco gets two new vessels

THE POINT LISAS INDUSTRIAL Port Development Corporation (Plipdeco) has entered into a joint venture arrangement  with Svitzer Wijsmuller (Denmark)  aimed at improving Plipdeco’s financial result and assist the company to deliver  increased value to its shareholders.

Stating this was Neil Rolingson, President of Plipdeco, at a ceremony which was organised to name two vessels (The Apollo and Zeus 1) on Thursday afternoon at Plipdeco’s Boardroom. In his address Rolingson highlighted “the positive contribution that Plipwijs (joint venture between Plipdeco and Svitzer Wijsmuller) has been able to make to the economy of Trinidad and Tobago.” He explained that since 1997 the joint venture status had been in existence and the Apollo and Zeus 1 had now expanded the fleet to four.

“These vessels have significantly increased domestic capacity to handle marine towage and salvage opportunities, which previously have been satisfied in a very costly manner by very temporary foreign importations,” Rolingson said. He noted that with the specialised nature of the on-going operations at the ALNG Terminal “there has been a wholesale transfer of technology to our local qualified personnel.”

“Today we are celebrating a local success story born of a vision of openness and mutual respect between equal parties,” Rolingson said. Touching on the Iraq War, the Plipdeco President said that “it is very unlikely to have any direct effect on the LNG Business in the medium term and even the indirect effects of energy prices and economic growth will do little to dent the healthy prospects of the local  industry’s growth.” Other speakers included Capt. Rawle Baddaloo in charge of the Harbour  Management of Plipdeco, Peter Pietka, Senior vice president, Corporate Affairs and Strategic Development of Svitzer Wijsmuller, and Richard Cape, President of Atlantic LNG.