b'Thebiggesthurdleforferryoperatorsisthecostofnew Whilewereverybusykeepingourcurrentboatsonsched-FOGHORN FOCUS passengervessels.Anewferrycancostupwardsof$100 ule,wearelimitedinhowmanyprojectswecantakeonbymillion, depending on size and features. This price tag thenumberofskilledpeoplewecanfind.Weneedmore.isduetofactorslikethespecializedshipyardsneededfor Theresbeenashortageforthepast20years,Duclossays.constructionandtheincreasingcomplexityofsafetyandenvironmentalregulations.Theseregulations,whilenec- Compoundingthesemarketissuesisthefactthatdomesticessary,oftendemandcutting-edgetechnologythatfurther ferriesareaging.A2023studybytheNationalAcademiesofPHOTO: GLADDING-HEARN SHIPBUILDING, DUCLOS CORPORATIONdrivesupthecost. Sciences,Engineering,andMedicinefoundthattheaveragelifespanofaU.S.ferrybuiltwithsteelisaround40years(25PeterDuclos,presidentofPVAmemberGladding-Hearn foraluminum).WithmanypassengervesselsapproachingShipbuilding, Duclos Corporation, acknowledges this: retirementagesoon,thefinancialburdenofreplacingthemWeveseenincredibleinflationoverthepastfewyears.It createsasignificantbarriertofleetmodernization.cantakeupto2.5yearsforaprojecttocomplete,soitshardtoknowwhatthecostswilllooklikethatfarahead. Wehaveacurrentferryrefitthatwereworkingonnow.Hopefully,inflationstabilizes,butitsdifficulttopredict. TheownerswantedtobuildnewbutdecidedtoupgradeitItslabor,materialseverything.Andcommoditypric- insteadduetobuildcostsandtime.Theyjustneedittobeesthatrelyonenergymaymoderatesomewhat,butnot mechanicallysoundforthenext15years.Wesolvedtheirenoughtoovercomethehighpricesotherwise. budgetarychallengeswithouthavingtoscraptheferryandbuildnew,Duclosadded.InDuclosbusiness,healsofacesashortageofskilledla-boracommonfactorthathascontributedtopricehikes Thedecisiontorefitversusbuildnewisbecomingincreas-acrosstheshipbuildingindustry. inglymorecommonamongfleetowners.FOGHORN 10'