Philly Shipyard is in the red on another newbuilding as the beleaguered yard looks for new financing and works to close the $100m Hanwha takeover.
In its third quarter earnings statement, the Kjell Inge Rokke-backed, Pennsylvania-based yard said its agreement to build a subsea rock installation vessel (SRIV) for Great Lakes Dredge & Dock Co was now a loss-making contract.
