NEW YORK (Sept. 16) - While hosting today's "Innovation and Opportunities" panel focusing on prospects in the Jones Act shipbuilding market, Shipbuilders Council of America (SCA) President Matthew Paxton hailed the innovation in the domestic shipbuilding and repair industry and noted the industrial base as a crucial element of America's national, homeland and economic security.
Kicking off the panel, Mr. Paxton talked about current innovations within the industry, saying, "This is an exciting time for the nation's shipbuilding industry because new LNG-powered vessels under construction are on the cutting edge of maritime innovation. U.S. shipbuilders are driving innovation and investing right here in America with world leading LNG technology."
Panelists discussed the U.S.'s world-class innovation in building new vessels, opportunities for growth, the changing competitive landscapes and potential new shipbuilding projects in the containership and dry-bulk markets.
Tom Godfrey, Chairman of SCA and CEO of Colonna's Shipyard in Norfolk, Va.,said, "Not only does the shipbuilding and repair industry provide nearly 500,000 jobs across the country and in every congressional district, but the ships that we build, both commercial and military, are critical to maintain the flow of international commerce and helping protect national security. By being the first in the world to build with advanced LNG technoloy, we are leading the way toward a greener global fleet."
Earlier this year, the U.S. shipbuilding industry became the first in the world to launch an LNG-powered containership and there are several orders in yeards across the country to build more vessels.
According to the U.S. Maritime Administration, for every shipyard job, five more are created and the industry contributes more than $6.4 billion in GDP to the U.S. economy every year.
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Contact: Danielle Hagen | 202.365.6112