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Global Ship Systems Closes...

Discussion in 'General Yachting Discussion' started by YachtForums, Jul 11, 2007.

  1. YachtForums

    YachtForums Administrator

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    I haven't received official notification on this, but two separate YF Members have now informed me that Global Ship Systems in Savannah, GA has closed. Global is the old Intermarine / Palmer Johnson shipyard.

    Global Ship Systems was established in 2004, when it acquired this venerable shipyard, the history of which is complex:

    * Global bought it from Palmer Johnson, who had bought it from WorldCom in 2002.

    * From 1999 to 2002, it was owned by Bernie Ebbers, the Chairman of WorldCom, who forfeited it before he went to jail.

    * Ebbers had bought from Intermarine USA in 1999 and operated it as Intermarine Inc.

    * Intermarine USA had bought it from Saylor Marine in 1987, for the purpose of building minehunters for the U.S. Navy.

    * Saylor Marine had bought it from Aegis Corp. in 1984.

    * Aegis Corp. had bought it from Walter Lee Mingledorff in 1968.

    * Walter Lee Mingledorff founded the shipyard in 1912 as Savannah Machine & Foundry.

    Global was primarily a megayacht refit yard, but had the ability to build yachts. The closing of this site leaves around 150 people without jobs.
  2. Rene GER

    Rene GER Senior Member

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    That's very bad news :mad: . If I remember right, they had good references like an refit of Katana (now Enigma)

    BTW, the website is down
  3. airship

    airship Senior Member

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    I find this very sad. It's always distressing to hear about shipyards that shut down. If yachts have souls (many seafarers would admit that they do, just like proper ships), then such an event must represent at least "a severe disturbance" in the "force" surrounding any vessel that had been constructed there. OB1...?!

    Unfortunetly, there are quite a few instances that I can recall where yacht yards have been "forced to close" for sometimes obscure reasons. It's a murky business sometimes, is yachting...:(
  4. RVN-BR

    RVN-BR Senior Member

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    let me budge into this thread to pose a rather silly question (not to me but to all who know this it will surely be)...

    what is the deal with the Intermarine brand? I've often heard ot the reputable (right?) Intermarine Savannah shipyard. I later gathered that it had recently been sold to palmer johnson but never found anymore hard evidence. So is this the end of the yard that made all the Intermarine yachts?

    What will this do, if anything, to the price of yachts from that yard? I was pointed in the direction of one recently, and upon looking for more about the yard couldnt find much xcept that they were bought by PJ...

    Is PJ doing something else with it? its workers? anyone have more details?
  5. CaptTom

    CaptTom Senior Member

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    Here's a pic of the yard in better days (back from May 2005). I remember seeing this yard in the PJ magazine ads many years ago, and then first hand when cruising up the ICW. Always impressive to see big sheds like those.

    Admin Edit: Image Removed
  6. inquisitive

    inquisitive New Member

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    Global Ship Systems

    Global Ship Systems definitely shut their doors on June 29. The Savannah Morning News published a story about it in their July 12 edition. (www.savannahnow.com)

    The picture you posted, Capt Tom, is of Thunderbolt Marine, Inc. (which was formerly leased by Palmer Johnson). The owner took back possession of the yard sometime in either 2003-2004.


    Just to clarify: the photo is not the Global Ship Systems (or former Intermarine Savannah) yard that has recently closed. The GSS yard had a 535' graving dock with a retractable cover ... that was impressive!

    As for TMI's repair and refit facility, they are still up and running ...

    And yes, the whole situation is sad. Many of the individuals who worked there (301 N. Lathrop shipyard), persevered through all of the changes of ownership and management over the past 10-12 years.

    It will be interesting to see what happens to the yard next.
  7. KCook

    KCook Senior Member

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    Thanks for the clarification inquisitive. And welcome to YachtForums! :)

    Kelly Cook
  8. CaptTom

    CaptTom Senior Member

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    Inquisitive,
    My apologies to you and everyone. I thought that was the yard. I'll get it removed to avoid any other confusion.
    Thanks for the correction.
  9. inquisitive

    inquisitive New Member

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    No apologies needed ...

    The whole Intermarine and Palmer Johnson fiasco caused all kinds of confusion back then. No one knew who owned what and where etc.

    And, thanks for the welcome, Kelly.
  10. KCook

    KCook Senior Member

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    Well see inquisitive .... I had this fantasy of retiring to Savannah .... and getting a part time job at PJ sharpening pencils or something. Now ....

    Kelly
  11. YachtForums

    YachtForums Administrator

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    Savannah shipyard auctioned for US $18 million...