The Triton

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Derecktor inks deal for large yacht yard in Ft. Pierce

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By Dorie Cox

After five months of negotiations, Derecktor Shipyard signed a deal on April 16 to develop a 12-acre parcel of property in the port of Ft. Pierce into a megayacht refit and repair facility.

The new yard — to be known as Derecktor Ft. Pierce (DFP) — will accommodate yachts “in the 200-foot-plus range”, according to the company. The channel into the port has a maintaining depth of 28 feet and no overhead obstructions.

Derecktor and St. Lucie County signed a 30-year lease with three 15-year renewal options.

“Now we can commit to investing in the property,” said John Koenig, Derecktor’s communications director. “We get use of the facility long term and can build the business.”

Derecktor will pay nearly $1.4 million a year in rent and fees from 2020-2028, as well as an additional 2% bonus when gross revenues reach $40 million and 3% when gross revenues hit $50 million.

“It’s a pretty straightforward lease; the county has a bond and costs … we’re paying the rent to cover it,” said James Brewer, business development director with Derecktor of Florida. “It’s really good and we’re eager to get going.”

DFP is expected to include a 1,500-ton lift and a drydock.

According to a statement from the yard, DFP “will feature a concrete apron of over 8 acres … as well as over 1,000 linear feet of deep-water dockage. An existing large building will be refitted to house machine, wood, pipe and electrical shops along with other service support activity.”

The yard is expected to first install a 1,500-ton mobile lift followed by a drydock for vessels up to 4,000 tons. Plans are for the lift to be up and running by fall of 2020.

Infrastructure improvements are slated to begin as soon as permits are in place, Derecktor stated. DFP will accept vessels “for dockside work in the very near future”, with operations expanding as the facility is improved, according to the news release.

In addition, DFP will work with Indian River State College to start a yacht repair training program.

This will be Derecktor’s second yard in Florida, about 100 miles north of its popular yard just south of Fort Lauderdale’s airport.

Derecktor Shipyards is expected to eventually move its corporate headquarters from Mamaroneck, New York, to Fort Pierce, Brewer said.

“There will be no substantive changes to the Dania Beach facility,” he said. The new yard “is a subsidiary of Derecktor Holdings.”

Dorie Cox is editor of The Triton. Comments are welcome below. Click for more details from www.tcpalm.com.

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About Dorie Cox

Dorie Cox is editor of The Triton.

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