Colonna’s Shipyard Invests $70m for Fourth Drydock
Colonna’s Shipyard, Inc. (CSI) will invest $70m to acquire its fourth drydock, expected to have a lifting capacity of 25,000 tons and slated for delivery in the first half of 2028.
“This new drydock acquisition is a testament to our continued dedication to innovation, quality service, and our steadfast investment in the future,” said Randall Crutchfield, Chairman & CEO, at Colonna’s Shipyard, Inc. “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.”
Recent Colonna’s Shipyard Investments:
• 2016: $50M invested in real estate acquisition/development, marine infrastructure improvements and installation of a dry dock to support commercial and government ship repair.
• 2019: $17M invested to enhance capabilities in modular fabrication and heavy-duty machining.
• 2023: $13M invested to expand modular fabrication capabilities in Owensboro, KY and Norfolk, VA.
• 2025: $70M invested in marine infrastructure development to increase drydock capacity in support of commercial and government ship repair.
- Watch the recent "Maritime Matters: The MarineLink Podcast" with Randall Crutchfield, Chairman & CEO, at Colonna’s Shipyard, Inc., where he discusses the shipyard's rich history and promising future.
