Swiftships files for Chapter 11 protection

Morgan City, La.-based shipbuilder Swiftships LLC filed for Chapter 11 protection on March 18 in the U.S. Bankruptcy Court for the Western District of Louisiana. The company reported $10 million to $50 million in assets and $10 million to $50 million in liabilities.

Established in 1942, since when it has delivered more than 1,000 vessels, Swiftships was the builder of the legendary Vietnam era Swift Boats.

Back in December 2024, the U.S. Navy canceled Swiftships’ contract for the Landing Craft Utility (LCU) 1700 program. The Navy ordered Swiftships to stop work in 2024 and moved to terminate the agreement after years of disputes over performance and design issues, according to reporting from Defense News. Subsequently Swiftships filed a lawsuit against the federal government, alleging the termination was made in bad faith and seeking $150 million in damages.

The voluntary Chapter 11 filing will allow the company to continue operating while it restructures its finances under court supervision.

• More on the Chapter 11 filing HERE