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  • Friday, November 22, 2024

Continental Maritime Wins Potential $205M Navy Ship Depot Modernization Contract

Continental Maritime of San Diego has secured a potential $204.5 million contract to help the U.S. Navy update, repair and maintain a pair of Arleigh Burke-class guided-missile destroyers.

The shipyard operator will conduct depot modernization efforts associated with USS Chafee for fiscal year 2023 and USS Momsen for FY 2024 under the firm-fixed-price contract, the Department of Defense said Tuesday.

Naval Sea Systems Command received two proposals for the project and the military service expects work to conclude in June 2025.

The branch intends to use FY 2023 other procurement and operation and maintenance funds to cover the base contract value of $88.2 million.

Titan Acquisition Holdings acquired Continental Maritime of San Diego from Newport News, Virginia-based military shipbuilder HII (NYSE: HII) in 2020.

The former HII shipyard is a certified master ship repair contractor that provides support to the Navy and Military Sealift Command.

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