The Shipyards (and maybe other) use this form of lumber for scaffold planks.
Full 2"X12" (heavy as hell).

I found some in scap surplus since OSHA only allows them in service so long
(same with fir planks). I tried cutting some deck beams out of these but
found that the veneers are of a low quality and the laminating process is
pretty sloppy.. Once I ripped a plank to expose the unweather edge, I could
see many voids (all the they small,1/16" to 1/8"). Also where one veneer
would stop (about every 8")and the next begins, they would overlap rather
than butt, causing the veneers above and below to compress and deform. I
don't know how this effects strength, but it wasn't a pretty sight.

As it turned out, 2" wasn't thick enough for the regular deck beams and I
only made one which is sistered with a engine room bulkhead (where I don't
have to look at it).

For mast building, IMHO, the laminate voids would allow water entry and the
overlaping veneers would have unpredictable effect on the masts performance.