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19 Determining the Cost of Capital Can One Size Fit AII? The Oceanic Corporation, a Chesapeake, VA based company was established in 1994. Glenn Rodgers III founded the corporation, which was privately owned at the time, after his retirement from Norentech Corporation. The Oceanic Corporation was originally formed to provide ship repair services and quickly earned a Department of Defense certified Alteration Boat Repair (ABR) designation. Among specialties were structural welding, piping system installation and repalrs electrical, painting, rigging, machinery and dry-dock work, as well as custom sheet metal fabrication. Other divisions of The Oceanic included Habitability Installation, Industrial Contracting, Alteration/Installation Teams (AIT). With its initial success and good return on investment the firm opened and operated facilities in California New Jersey, Florida, Maryland, Pennsylvania and Washington. its an