The funding represents a significant vote of confidence in Bollinger Shipyards, which acquired the troubled program from Singapore-based ST Engineering in 2022 through its acquisition of VT Halter Marine. At the time, the program faced substantial challenges, including schedule delays, cost overruns, and an incomplete concept design.
“This is more than a funding milestone—it’s a vote of confidence in American industrial capability and in Bollinger’s proven ability to deliver,” said Ben Bordelon, President and CEO of Bollinger Shipyards. “We took on a troubled program knowing the stakes were high. Since day one, our team has been laser-focused on restoring momentum, rebuilding trust, and delivering results.”
Earlier this year, Bollinger received a $951.6 million contract modification to advance the construction of the first PSC. With the new funding secured for vessels two and three, the program is now fully resourced to deliver a modern fleet of heavy icebreakers capable of operating in the most extreme polar environments.
The PSC program is considered the cornerstone of the Coast Guard’s Arctic and Antarctic strategy, enabling year-round access to polar regions for national defense, scientific research, and maritime sovereignty. These vessels will be the first American-built heavy icebreakers in nearly 50 years.
Since acquiring VT Halter, Bollinger has worked in close partnership with the U.S. Coast Guard and Navy to stabilize and restructure the program, bringing it back on track through disciplined project management, strategic investment, and a revitalized workforce. The company has invested $76 million across its Mississippi facilities and increased its Mississippi workforce by over 61%, with production roles at Bollinger Mississippi Shipbuilding alone increasing by more than 178%.
Mississippi Governor Tate Reeves praised the achievement: “Mississippi shipbuilders are the best in the nation and this is further proof of that. Our state has what it takes to deliver results and keep our country safe.”
The PSC funding is part of a larger $25 billion investment in the Coast Guard included in the One Big Beautiful Bill Act, which represents the largest single commitment of funding in Service history. The comprehensive package will allow the Coast Guard to procure an estimated 17 new icebreakers, 21 new cutters, over 40 helicopters and six C-130J aircraft while modernizing shore infrastructure and maritime surveillance systems.
