Philly Shipyard - statistics & facts

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 2022, there were a total of 99 oceangoing, self-propelled, cargo carrying vessels in the U.S.-flag merchant Jones Act fleet. 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 Philly Shipyard’s most popular ship type in terms of delivery in 2021. Other ship types delivered by Philly Shipyard include container ships, Aframax tankers and repair vessels.

Philliy Shipyard's financial performance improving

Philly Shipyard’s key financial figures show significant growth from 2020 to 2021: Philly Shipyard’s total assets amounted to around 437 million U.S. dollars in 2021, up from approximately 234 million U.S. dollars in 2020. 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 214 million U.S. dollars in 2021. 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 -12 million U.S. dollars in 2021.

Employees and backlog

Philly Shipyard employed, on average, 268 people in 2021, an increase of about 66 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 2021, the shipyard's order backlog amounted to over 1.2 billion U.S. dollars, up from some 602 million U.S. dollars a year before.
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.
Published by Statista Research Department, Jun 13, 2022

Key insights

Philly Shipyard's operating revenue
214m USD
Philly Shipyard's loss before tax
12.27m USD
Total assets of Philly Shipyard
437m USD
Get more insights

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