No doubt about it, the contract to build the National Security Multi-Mission Vessel (NSMV) training ships was a life-saver for Philly Shipyard when it was awarded in April 2020. At that time, the shipyard’s newbuild order book was empty. Today, things are very different.
According to its just released results for the third quarter and first nine months of 2023, at September 30, 2023, Philly Shipyard had an order backlog of $1,793.7 million, with eight ships on its order book: four NSMV training...