Colonna’s Shipyard, Inc. (CSI), the oldest family-owned shipyard still operating in the United States, has announced a $79 million investment for the acquisition of its fourth drydock at its Norfolk facility. The new drydock will have an approximate lifting capacity of 25,000 tons and is expected to strengthen CSI’s ship repair and maintenance capabilities for both commercial and government clients.
Governor Glenn Youngkin commented on the development, stating, “‘Made in America’ means ‘Made in Virginia,’ and with this major investment by Colonna’s Shipyard, that is especially true for America’s naval shipbuilding and commercial maritime industry. The acquisition of this new drydock is not just an investment in infrastructure, it’s an investment in the long-term strength of our national defense and commercial fleet support. I congratulate CSI on this exciting new chapter and applaud their ongoing commitment to growth in the Commonwealth of Virginia. Together, we’re ensuring that Virginia remains the premier hub for shipbuilding and repair on the East Coast and across the nation.”
Secretary of Transportation W. Sheppard Miller III added, “I’ve witnessed first-hand the growth and success of Colonna’s Shipyard over the years. As home to the world’s largest military installation, a best-in-class port and other top-tier infrastructure, there’s no better place for Colonna’s Shipyard to make this strategic investment. I’m excited to see shipbuilding continue to thrive in the Commonwealth as our nation renews focus on this critically important industry.”
Randall Crutchfield, Chairman & CEO of Colonna’s Shipyard, Inc., said, “This new drydock acquisition is a testament to our continued dedication to quality service, on-time delivery, and our steadfast focus on the future. The expansion of our drydock capacity will further strengthen our ability to serve both our commercial and government clients, ensuring that we can meet their ever-evolving needs with unmatched expertise and reliability. This investment is also a continued commitment to our employees and the economic vitality of Norfolk’s industrial working waterfront, which has been an integral part of our success for over a century.”
Norfolk Mayor Kenny Alexander noted Colonna’s longstanding presence in Norfolk: “Colonna’s Shipyard has been a cornerstone of Norfolk’s economy and maritime identity for more than 145 years. This $79 million investment not only strengthens Norfolk’s position as a national leader in ship repair and innovation but also reflects the company’s enduring commitment to our people, our port, and our future. The expansion of Colonna’s drydock capacity will create opportunity, sustain good-paying jobs, and ensure our city’s working waterfront continues to thrive for generations to come.”
The Drydock #4 Project is scheduled for completion in early 2028 as part of CSI’s ongoing modernization efforts at its U.S.-based facilities. Over the last ten years alone CSI has invested more than $150 million into expanding its shipbuilding operations.
