REUTERS/Kevin Lamarque
U.S. President Barack Obama looks at the bow sections of the USS John Warner before speaking at Newport News Shipbuilding in Newport News, Virginia on February 26, 2013.
Obama visited the shipyard to highlight the impact the sequester will have on jobs and middle class families. The cuts fall evenly on non-defense and defense spending, with states like Virginia, heavily dependent on Pentagon contracts, expected to be hardest hit.
Obama spoke in front of a huge submarine propeller at the Newport News Shipbuilding shipyard where scheduled maintenance to the aircraft carrier USS Abraham Lincoln has been delayed due to the budget crisis.
The $85 billion across-the-board budget cuts are due to begin on Friday, unless an agreement is reached in Congress.
Mark Felsenthal contributing (c) 2013 Thomson Reuters, Click For Restrictions
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,894 members that receive our newsletter.
Have a news tip? Let us know.
U.S. shipbuilder Philly Shipyard, Inc. and HD Hyundai Heavy Industries Co., Ltd. (HHI), South Korea’s largest shipbuilding group, have signed a Memorandum of Understanding (MOU) to explore opportunities for collaboration...
Malaysia’s MISC Berhad, through its tanker subsidiary AET, has signed contracts for the world’s first two ammonia dual-fuel Aframaxes. The deal includes Time Charter Party Contracts (TCP) with PETCO Trading...
The United States Trade Representative (USTR) has announced the launch of an investigation into alleged unfair trade practices by China in the shipbuilding, maritime, and logistics sectors. The probe was...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,894 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
