The Philly Shipyard is one of the major active shipyards in the U.S. It constructs vessels for operation in the Jones Act market. The Jones Act is a U.S. federal statute which requires all commercial vessels transporting merchandise between U.S. ports to be built, owned, operated and manned by U.S. citizens, and carried on U.S.-flag ships. Promotion of the U.S. shipbuilding industry is one of the statute’s intentions. In 2023, there were a total of 93 oceangoing, self-propelled, cargo carrying vessels in the
. Tanker ships, designed to transport liquid or gases, account for the largest share of U.S.-flag oceangoing privately owned ships, followed by container ships and general cargo ships. Product tankers were indeed
in 2022. Other ship types delivered by Philly Shipyard include container ships and Aframax tankers.
Philliy Shipyard's financial performance improving
Philly Shipyard’s key financial figures show significant growth from 2020 to 2022:
Philly Shipyard’s total assets amounted to around 350.5 million U.S. dollars in 2022, up from approximately 234 million U.S. dollars in 2020, but down from record-high 437 million U.S. dollars in 2021.
Philly Shipyard's operating revenue also saw a massive increase during the same time frame, jumping from just over 54 million U.S. dollars in 2020 to some 393 million U.S. dollars in 2022. While
Philly Shipyard's income before tax continues to be in negative figures, its value improved from around -28 million U.S. dollars in 2020 to some -22 million U.S. dollars in 2022.
Employees and backlog
Philly Shipyard employed, on average, 390 people in 2022, an increase of about 46 percent compared with 2021 and 142 percent compared with 2020.
Philly Shipyard’s order backlog – that is, vessels that the Shipyard is required to produce that haven’t been delivered yet – increased considerably year-on-year. In 2022, the shipyard's order backlog amounted to over 2.1 billion U.S. dollars, up from some 1.2 billion U.S. dollars in 2021 and 602 million U.S. dollars in 2020.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
