Horizon Shipbuilding is a shipyard located inBayou La Batre, Alabama.
The company was founded by the Short family in 1997 after a previous shipbuilding venture failed.[1] In 2002, Horizon declared bankruptcy after a Nigerian client failed to pay in full for several delivered vessels.[1][2] After emerging from bankruptcy, control of the company passed in full to Travis R. Short, the younger of the father-son founding team.[1] Horizon expended its business through the 2000s, delivering vessels to defense, fishing, and towboat customers.[1] By 2016, the company employed about 350 people and had annual revenue of between $40 and $50 million.[1]
In July 2016, Horizon was one of two shipbuilders awarded a contract to construct new passenger ferries for theNYC Ferry service in New York City.[3] However, during the construction of the vessels, Horizon encountered cash flow challenges and began to fall behind schedule, leading it to employ contract workers that exacerbated its financial difficulties.[4] Horizon president Short said the company had agreed to build each vessel for $2.6 million, lower than the $3 million quoted by the other builder,Metal Shark Boats, which was insufficient to cover expenses.[4] The company filed for bankruptcy in November 2017, citing losses incurred on the ferry construction as well as a series of tugboats that also cost more to build than expected.[5]