Shipbuilder gives port lease deposit for Todd Shipyard site.Shipbuilder gives port lease deposit for Todd Shipyard site SAN PEDRO -- A company hoping to revive shipbuilding on the former Todd Shipyard site delivered a $250,000 good faith deposit this month to the Port of Los Angeles The Port of Los Angeles is located on San Pedro Bay in the San Pedro neighborhood of Los Angeles, approximately 20 miles (30 km) south of downtown. Also called Los Angeles Harbor and WORLDPORT LA , landlord of the 100-acre site. Los Angeles Shipyard Corp. officials said its irrevocable standby letter of credit Standby Letter of Credit A stipulation that states a letter of credit will be called back if the payer defaults. Notes: A letter of credit is typically used in international transactions. indicated its "solid intention to accelerate occupancy negotiations" with prot officials, who in December agreed to negotiate exclusively with LASC LASC Los Angeles Southwest College LASC Los Angeles Superior Court LASC Latin America Solidarity Coalition LASC Legal Aid Services Council LASC LEO and Anomaly Support Center (US DoD SATCOM) . Although another suitor SUITOR. One who is a party to a suit or action in court. One who is a party to an action. In its ancient sense, suitor meant one Who was bound to attend the county court, also, one who formed part of the secta. (q.v.) has reportedly angled for a similar deal, LASC has said it expects to secure a lease agreement by the end of January. About 2,000 employees would be hired, said LASC. Contingent on the lease is a contract to build two 40,000-ton oil tankers worth $100 million for a Norwegian shipping firm, the company has said. |
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