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Last call at New Orleans: MR-GO loss sends International Shipholding to Mobile; Alabama wooed company with incentives.(International Shipholding Corp. shifting its corporate headquarters to Mobile)
International Shipholding Corp. is shifting its corporate headquarters to Mobile, Ala., after 59 years in New Orleans.
The move is Hurricane Katrina's latest blow to the Crescent City. International Shipholding attributed the move to the closure of the silt-choked Mississippi River-Gulf Outlet.
Katrina left a heavy layer of silt in MR-GO, reducing channel draft from 36 feet to 21 feet, rendering it inaccessible to the deep-draft shipping that used it to reach the Industrial Canal. Last month, Congress appropriated $3.3 million to the Army Corps of Engineers to come up with a plan to close the shipping channel. That was the deciding factor for International …
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