Colonna’s Shipyard Invests $79 Million in Norfolk

 
Colonna’s Shipyard, Inc. (CSI) is acquiring its fourth drydock, marking a significant milestone for the oldest continuously operating family-owned shipyard in the United States. According to company officials, the new drydock represents a major company investment of over $79 million. Drydock #4 is expected to have an approximate lifting capacity of 25,000 tons, positioning CSI to further enhance its capabilities in providing critical ship repair and maintenance services to a diverse range of maritime clients. 

“‘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,” said Governor Glenn Youngkin. “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.” 

“I’ve witnessed first-hand the growth and success of Colonna’s Shipyard over the years,” said Secretary of Transportation W. Sheppard Miller III. “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.”  

“This new drydock acquisition is a testament to our continued dedication to quality service, on-time delivery, and our steadfast focus on the future,” said Randall Crutchfield, Chairman & CEO of 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.” 

“Colonna’s Shipyard has been a cornerstone of Norfolk’s economy and maritime identity for more than 145 years,” said Norfolk Mayor Kenny Alexander. “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 slated for delivery in the first half of 2028, continuing CSI’s ongoing efforts to expand and modernize its facilities to meet the growing demand for ship repair and conversion services. Over the past decade, Norfolk-based CSI has invested more than $150 million to grow shipbuilding and sustainment capacity within its U.S. facilities.
 

Note: Colonna's Shipyard was featured in the May/June 2025 issue of The Maritime Executive.