Panama City, Fla.-based Eastern Shipbuilding Group says that it is suspending work on the U.S. Coast Guard Offshore Patrol Cutter (OPC) program, citing the “significant financial strain caused by the program’s structure
OPC 1 under construction at Eastern Shipbuilding. [Photo: ESG]
Panama City, Fla.-based Eastern Shipbuilding Group says that it is suspending work on the U.S. Coast Guard Offshore Patrol Cutter (OPC) program, citing the “significant financial strain caused by the program’s structure and conditions.”
Prior to the suspension, Eastern had been working on two of the four OPCs originally awarded it, following Department of Homeland Security Secretary Kristi Noem’s announcement in July that she was canceling the contracts for two of the ships.
Following is the full text of the statement released by Eastern Shipbuilding CEO Joey D’Isernia:
“Eastern Shipbuilding Group has made the difficult decision to suspend work on the Offshore Patrol Cutter program due to significant financial strain caused by the program’s structure and conditions. Despite our best efforts, continuing under the current circumstances is not sustainable.
“Unfortunately, we also had to reduce our workforce—an extremely hard step, as our
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