Horizon Shipbuilding reorganizing

Horizon Shipbuilding of Bayou La Batre, Ala., announced it will reorganize amid insufficient revenues for maintaining normal operations, according to company VP Lance C. Lemcool. Horizon saw an opportunity last year to repeat a major construction contract from 2012 for a number of vessels for Hornblower's HNY Ferries of NYC. The Horizon project was an “unparalleled commitment” of Horizon’s boat builders, subcontractors and suppliers. All of the ferries were delivered this year, according to the VP. However, project revenues were not sufficient for Horizon to continue normal day-to-day operations, he continued. The project shortfalls have been ongoing without resolution. Horizon will now take time to reorganize its current projects and make every effort to “regain its reputation” with vendors and subcontractors, Lemcool said. The announcement comes on the heels of the Hornblower contract and other recent deliveries. In April, Horizon also delivered its 20th towboat for Florida Marine Transporters (FMT) during their nine years of business. (Source: Marine Link 09/21/17)