Philly Shipyard, Inc., the sole operating subsidiary of Philly Shipyard ASA (OSE: PHLY) today announced the authorization by the U.S. Department of Transportation’s Maritime Administration (MARAD) and subsequent order from TOTE Services, LLC (TOTE Services) for the construction of two additional National Security Multi-Mission Vessels (NSMVs). These vessels will replace aging training vessels at Maine Maritime Academy and Texas A&M Maritime Academy. Construction of the two new vessels (NSMVs 3 and 4) is expected to commence in 2022 with planned deliveries in 2024.
See the press release
Press Release - NSMV Options 3 and 4 - 1.19.2021_F