U.S. Navy’s Costliest Vessel Just Got Even Pricier (excerpt)
(Source: Bloomberg News; published May 11, 2018)
By Anthony Capaccio
The Navy’s costliest vessel ever just got pricer, breaching a $12.9 billion cap set by Congress by $120 million, the service told lawmakers this week.

The extra money for the U.S.S. Gerald R. Ford built by Huntington Ingalls Industries Inc. is needed to replace faulty propulsion components damaged in a January failure, extend the vessel’s post-delivery repair phase to 12 months from the original eight months and correct deficiencies with the “Advanced Weapons Elevators” used to move munitions from deep in the ship to the deck.

The elevators on the ship, designated CVN 78, need to be fixed “to preclude any effect on the safety of the ship and personnel,” the Naval Sea Systems Command said in a statement to Bloomberg News on Friday. “Once the adjustment is executed, the cost for CVN 78 will stand at $13.027” billion, the Navy said.

In addition to informing Congress that the spending lid has been breached, the Navy will have to let lawmakers know how it will shift funds to make up the difference. (end of excerpt)

Click here for the full story, on the Bloomberg News website.


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