The good news during this period is that we learned that direct communication has been set up between Save Falls of Clyde International (SFOCI) and the Harbors Division. SFOCI is still progressing in getting support for the future of Falls of Clyde, but the arrangements to remove the ship from Honolulu Harbor have still not come together. Apparently the new deadline is sometime in December 2019. We noted that the Harbors Division is still requiring a $1.5 million performance bond as part of the project to move the ship. That requirement resulted in the failure of Harbor’s auction process. Because FFOC has insurance underwriting expertise on the board, we contacted the leadership at the Harbors Division, pointed out that the bond requirement could never be met, and asked that they remove that requirement and work with SFOCI to come to reasonable terms to meet what should be a mutual goal.
|
The good news during this period is that we learned that direct communication has been set up between Save Falls of Clyde International (SFOCI) and the Harbors Division. SFOCI is still progressing in getting support for the future of Falls of Clyde, but the arrangements to remove the ship from Honolulu Harbor have still not come together. Apparently the new deadline is sometime in December 2019. We noted that the Harbors Division is still requiring a $1.5 million performance bond as part of the project to move the ship. That requirement resulted in the failure of Harbor’s auction process. Because FFOC has insurance underwriting expertise on the board, we contacted the leadership at the Harbors Division, pointed out that the bond requirement could never be met, and asked that they remove that requirement and work with SFOCI to come to reasonable terms to meet what should be a mutual goal.
0 Comments
Leave a Reply. |
Bruce McEwan, President
We know that there is great interest in the future of the Falls of Clyde. There is a lot going on that the Board of Directors is dealing with, so we felt that keeping stakeholders involved through a report on our website is the easiest way to reach our worldwide audience. Archives
July 2020
Categories |
RSS Feed