Americraft Marine Appoints Peter Fetten as Chairman

Owner of St. Johns Ship Building appoints industry veteran to key role as part of strategy to meet significant need for Jones-Act vessels.

NEW YORK, April 8, 2024 /PRNewswire/ -- Americraft Marine, one of the maritime subsidiaries of Libra Group that owns and operates a Jones Act ship building facility in Palatka, Florida, has announced the appointment of Peter Fetten as Chairman of Americraft.

A seasoned leader with four decades in the marine engineering and shipbuilding sectors, Fetten will help shape the strategic direction of Americraft Marine as it works to advance U.S. shipbuilding and the demand for Jones Act vessels. Americraft Marine owns and operates St. Johns Ship Building, a Palatka, Florida-based Jones Act shipyard with a focus on new construction and repair of a wide variety of steel and aluminum vessels, including ferries, tugs, deck and tank barges, landing crafts, and general cargo vessels. Significantly, it is also one of the few U.S. shipyards that builds vessels, such as the crew transfer vessels (CTVs), that support and service offshore wind farms.

A shipbuilding industry veteran, Fetten's experience includes the design, construction, and ship management experience of some of the world's largest ships. Prior to this he held senior roles at Carnival Corporation and Royal Caribbean Cruise, as well as Blohm and Voss where he worked for 15 years. He is also the initiator/developer of Grand Bahamas (Freeport) Shipyard. He holds degrees in naval architecture and welding engineering from the University of Hamburg.

Omear Khalid, CEO of Americraft Marine, said, "We are committed to delivering excellence in shipbuilding, including supporting skilled American workers that are the backbone of a strong Jones Act fleet." He continued, "Leveraging Peter's significant global expertise, we look forward to advancing our capabilities to meet the needs of our clients, both today and tomorrow, and to support a strong and vibrant U.S. economy."

Fetten's appointment comes at a key inflection point for the company as it ramps up its production, including CTVs used to service offshore wind. Last year, St. Johns delivered the WINDEA Courageous CTV supporting the construction of Vineyard Wind I, the nation's first commercial-scale offshore wind farm located in New Bedford, Mass.

Peter Fetten, Chairman of Americraft, said, "We are at a pivotal moment in American shipbuilding, which is the cornerstone of economic competitiveness. Investment in this vital sector is critical to ensure the U.S. continues to lead in the global economy," said Fetten. "I am honored to support the mission of Americraft Marine, working with its strong leadership, as it aims to bolster its work at St. Johns, and beyond."

Americraft Marine is one of three maritime subsidiaries of Libra Group, a privately owned business group whose 20 subsidiaries have assets and operations in nearly 60 countries. Other maritime subsidiaries include Lomar Shipping and Seapath, a company formed to address the need for critical investments in America's maritime economy, including marine industrial technologies and Jones Act vessels.

About Americraft Marine

Americraft Marine was launched with the sole purpose to support and strengthen the U.S. shipbuilding industry and infrastructure. Americraft Marine is at the forefront of the U.S. shipbuilding industry, dedicated to revolutionizing Jones Act shipbuilding and supporting the nation's maritime infrastructure. Leveraging decades of maritime experience and a commitment to innovation and sustainability, Americraft Marine aims to lead the evolution of the shipbuilding industry, creating stable jobs, advancing clean energy technologies, and building the innovative ships of tomorrow.

SOURCE Americraft Marine Group

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