CityBusiness - International Shipholding moving from N.O. to Mobile
Gibbons Burke
committee might have averted this departure...
<http://www.neworleanscitybusiness.com/UpToTheMinute.cfm?recID=4921>
International Shipholding moving from N.O. to Mobile
By CityBusiness staff report
2006-06-26 2:48 PM CST
NEW ORLEANS — International Shipholding Corp. today announced it will
relocate corporate headquarters and CG Railway operations from New
Orleans to Mobile, Ala., because the the Mississippi River Gulf
Outlet is being closed.
Chairman Erik Johnsen anticipates completing the move by early 2007.
"Our company, unfortunately, is another victim of Hurricane Katrina,"
said Johnsen. "With the post-Katrina closure of the MRGO to deepdraft
shipping, and after extensive research, we could find no other site
in Louisiana for our specialized rail-ferry service."
International Shipholding will move its headquarters at the Poydras
Center along with its CG Railway service to a facility in Mobile.
However, its barge repair operation, Lighter Aboard Ship Barge Repair
Yard in Lafitte will remain along with all 50 employees. The company
will retain its terminal lease while exploring alternative uses for
the site.
"I want to emphasize that our decision to relocate is based upon the
unique post-Katrina circumstances facing our company," Johnsen said.
"It should not be seen as an indication of our views on the future
economic health of the greater New Orleans area. In fact, we are
optimistic that the city of New Orleans will enjoy a vibrant rebirth,
which is already evidenced by the return of the Port of New Orleans
to its pre-Katrina levels."
International Shipholding was founded as Central Gulf Steamship Corp.
by the Johnsen family in 1947. It went public in 1979 and is a
registered member of the New York Stock Exchange.
"Our roots are in New Orleans and it pains us to leave. However, we
will have a continued presence in Louisiana," said Johnsen.•