J.M. Martinac shipyard in Tacoma facing foreclosure


(TACOMA, Wash.) — J.M. Martinac Shipbuilding is facing foreclosure on its Thea Foss Waterway shipyard next month unless it can come up with $415,000 in loan payments and fees, The Seattle Times reported. The 90-year-old shipyard's last project, the 184-foot longliner Northern Leader, left the facility a year ago. Before that, Martinac built a series of harbor tugs for the U.S. Navy and private industry.

Click here to read the newspaper's story.

By Professional Mariner Staff