Chaulk Determination

[astz]

Guess the Chaulk Lifter is "orphaned" now without a dedicated tug to push her. The Determination had a pusher arrangement on the bow, can the barge operate efficiently without it especially in the seaway? what horsepower tug is required to make efficient speed? Or perhaps it will go up for sale..along with the Tenacity?

[PDBLK25]

I totally agree with "astz". Oglebay-Norton & now Cliffs are somewhat similar. CAI (Chaulk) grew way too fast. "Workout Specialists" at banks (the guys who re-organize bankrupt companies in an attempt to get back some of what the bank lent to that firm) are always suspicious of such fast growth. Call them "Puffball Companies".
From Web-Site astz provided: "...CAI [was] listed in 2000 as one of the fastest growing companies in Canada (4650% in 5 years to 2009)."
For a very similar example, Google "Penn Square Bank". This tiny Oklahoma City bank grew explosively by loan participations with larger banks. Helped destroy Continental-Illinois Bank. Did substantial damage to Michigan National Bank & Chase-Manhattan. Even got the conservative Northern Trust Bank.

[astz]

This is what happens when people with no real knowledge or experience but perhaps a little bit of money overreach themselves.
They listen to bad advice and everyone associated with the venture ends up losing.

[tugboathunter]

There's a tidbit about what actually happened to the Chaulk Tenacity here: http://tugfaxblogspotcom.blogspot.com/2 ... hands.html

[frus]

Chaulk Tenacity is at shipyard in wales UK. No work being done on completing conversion from tanker to general cargo ship.
Seems as though co is out of money.

[astz]

I'd be very wary of doing any kind of business with this outfit if this is the way they go about it. The Lifter is a heavy lift barge, cut corners on maintenance there and something goes wrong and you have lives at risk not to mention cargo wrecked or lost. TC should be watching them very closely. I think the vessel in europe is in a yard, hopefully getting proper attention!

[Rustyrivet]

They own the Lifter barge..wherever it is..and a freighter in Europe that can be seized to cover costs.

That means nothing to the Inuit (First Nations, Aboriginal, or indian? Whatever term you choose?) Here in Canada, things are very politically correct and believe me when I say, the gov't will not be able to seize, arrest or sue for damages of any kind when it comes to dealing with this situation.

[astz]

They own the Lifter barge..wherever it is..and a freighter in Europe that can be seized to cover costs.

[Rustyrivet]

charges may be filed if owners were proven to be negligent

http://www.cbc.ca/news/canada/montreal/ ... -1.2884905

CAI, the owner, is an Inuit owned company. They will thumb their noses at anything the gov't tries to hold them liable for.

[frus]

charges may be filed if owners were proven to be negligent

http://www.cbc.ca/news/canada/montreal/ ... -1.2884905

[astz]

tug is owned by same folks who have responsibility for upkeep of the Kathryn spirit...that should make folks in Chateauguay start asking questions.

[Rustyrivet]

Not sure of the exact reason for her sinking, but my guess would be poor or non existent winterizing? There are a few marine engineers on another marine website complaining of not being paid by the owners. I suspect this might be the cause?

[jacques]

tug sank at trois rivieres friday afternoon. Wonder if she is insured?
and after spilling 20 tons of diesel into the river they will get a hefty bill from the cleanup crew. seems she was unmanned - what is the owners liability for a fine?