U.S. budget squeeze could hurt domestic shipbuilders (PHOTO)

(WASHINGTON) — The federal budget may be underestimating the amount of money needed to meet the Navy’s long-range shipbuilding goals, the Press-Register newspaper of Mobile, Ala., reported. The Navy says it needs $476 billion to purchase 276 ships. The Congressional Budget Office said the figure will be more like $569 billion. If that difference leads to delayed orders, shipbuilders including Austal USA and Northrop Grumman may be impacted.
Click here to view the newspaper’s story.
By Professional Mariner Staff