The Port of Los Angeles, the Los Angeles Conservancy and a Long Beach firm have agreed to put on hold their dispute over the fate of a 38-acre site that operated as a full-service shipyard until 2005.

The site, known as the old Southwest Marine facility, is deep inside the port and is where the port plans to put sludge it dredges from the bottom of the harbor to deepen the shipping channel. That would enable the port to accommodate the next generation of giant cargo ships.

Under an agreement brokered by Los Angeles City Councilwoman Janice Hahn, the harbor deepening project will proceed as planned while Gambol Industries Inc., gets a one-year period to negotiate an agreement with the port to build a shipyard on the site.

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