CEO Says ASG Shipyard Turned Profit of $126,960

The American Samoa Government Shipyard at Satala has turned a profit of more than $100,000 for Fiscal Year 2016 which concluded September 30.

CEO Moefaauo Bill Emmsley says in a press release, ” The shipyard against all odds incredibly turned-up a profit of $126,980, with a significant profit margin of 51%; which means for every dollar the Shipyard earned last year, it kept $0.51.”

He says while in some quarters, such “surplus” may not be significant,  when considering the adverse climate, under which the shipyard had to maneuver, including, not being able to dry-dock a single purse seiner, which is touted as the shipyard’s greatest revenue generator, “hen this “feat” is a remarkable achievement worth noting and celebrating.”

Moefaauo says in post script, the shipyard, indeed, was expecting heavy losses this year but, was equally prepared for “heavy-seas” thus, managed to reverse the trajectory and steer the Shipyard to “fair-seas”!

Reflecting on the past fiscal year, Moefaauo says the circumstances that the shipyard found itself in was “erratic and tumultuous,” and keeping the shipyard’s operation on an even keel and making it thrive under the strain of turbulent waters was a monumental task.

He says not too long ago, there were about 34 purse seiners and 41 long liners based here.

But with Chicken of the Sea gone and now impending closure of Samoa Tuna Processors, “the glorious days for the fishing industry is degenerating.”

Moefaauo also points to what some have described as overzealousness and duress of federal regulations; more specifically, fishery conventions, pertaining to fishing at the high seas, which has placed US flagged purse seiners, in a vulnerable position, and they find operating out of Pago Harbor less beneficial, because of climbing costs and dissenting economic opportunities.

The shipyard CEO says the result is boats began moving to  other “ports” to placate their hardship dilemmas and  unfortunately leaving the territory to fend off an inevitable “economic-hemorrhage”

Also working against the shipyard was the facility’s  own progressively deteriorating conditions resulting from years of neglect without proper maintenance and repairs.

Moefaauo says while intermittent improvements were made these “Band-Aid” fixes could not stem the tide of decline thus, casting an ominous, but undeserving aura of “instability and ineffectiveness” of the shipyard.

Nevertheless says the CEO, under the board and management, a new “strategic-vision” and a companion Implementation Plan, which became the “blueprint” for a comprehensive economic development plan (CEDP), ultimately played a pivotal role in one of the greatest come-back of the past fiscal year—the shipyard turning up the highest “profit margin” ever.

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