A full-service shipyard with a drydock capable of handling the largest tankers and cruise ships will be built in Grand Bahama, according to reports obtained by Cruise Industry News.

The Grand Bahama Port Authority has selected Jonathan Corporation to run its present wetdocking operations, effective June 1, and to build the new yard. The Jonathan Corporation has in turn entered into a joint venture agreement with the Norfolk Shipbuilding and Drydock Company (NORSHIPCO).

Jonathan Corporation is an engineering company that has ownership interests in several yards and has previously pioneered cost saving phase maintenance contracts for the U.S. navy. NORSHIPCO already has the major share of cruise ship repair and maintenance work on the East Coast.

The new yard complex is scheduled to be presented to the cruise lines in Miami on May 16.