Subic Drydock Corporation

Subic Drydock Corporation, a Philippines-based shipyard operator, provides ship repair, maintenance, and overhaul services to the U.S. Navy and Military Sealift Command as a prime contractor on full-and-open federal contracts with no set-aside designation. The company is a minority-owned and woman-owned subsidiary of Cabras Marine Corporation, a Guam-based woman-owned small business and SBA-certified HUBZone firm. Subic Drydock operates its facility in Olongapo, Zambales, Philippines, and competes entirely outside small-business set-asides, securing work through firm fixed-price delivery orders and definitive contracts issued under master agreements with Naval commands in the Pacific.

The company's federal footprint is heavily concentrated in Navy and Military Sealift Command vessel maintenance. Of 176 recent prime awards tracked in the source, the Department of the Navy Military Sealift Command accounts for 127 awards carrying $82 million in combined potential value, while the Department of the Navy United States Pacific Fleet Forces accounts for 34 awards valued at $1.2 million combined. This Navy-MSC concentration represents 99% of awards by count. However, the top-customer ranking by dollar value shows a recent shift: the Department of the Army Materiel Command's TACOM Life Cycle Management Command has entered the portfolio with four awards carrying $280.8 million combined potential value. In January 2026, TACOM awarded two multiple-award IDIQs to Subic Drydock—the Army Watercraft Sustainment Maintenance (AWSM) Program OCONUS Zone 2, with a ceiling of $211 million and an ultimate completion date of July 30, 2031, and the AWSM Program Zone 3: Pier Side, with a ceiling of $69.8 million through the same date. These two Army contracts now anchor the vendor's pipeline and represent the largest single procurement event in the recent record.

Subic Drydock's representative work demonstrates the scope and scale of naval repair services. On the MSC side, recent firm fixed-price definitive contracts include a $10.2 million regular overhaul of USNS PUERTO RICO awarded in September 2024 (completion March 2025), a $9.2 million regular overhaul of USNS MILLINOCKET awarded in December 2023 (completion July 2024), a $4.4 million Category A maintenance and overhaul of USNS SALVOR awarded in April 2025 (completion July 2025), and a $395,427 voyage repair availability of USNS Tippecanoe awarded in September 2025 (completion October 2025). Work scopes include hull and structural repairs, drydocking, pipe repair and replacement, engine repair, radar systems service, gas-free certification, and related maintenance activities. On the Navy side, a $433,392 delivery order for voyage repair availability on USS ASHLAND was issued by Naval Sea Systems Command in February 2026 under a Basic Ordering Agreement with U.S. Pacific Fleet Forces established in August 2023, with place of performance in Singapore.

Subic Drydock operates under multiple parent vehicles anchoring its Navy work. The single-award Basic Ordering Agreement N4034523G0004 with U.S. Pacific Fleet Forces, awarded August 16, 2023, and running through August 15, 2028, carries no specified ceiling and has generated 18 task orders with $21.5 million in combined potential value. Three additional master agreements account for the bulk of recent delivery orders: IDC N4034509G0023 (48 task orders, $17.1 million), BOA N4034515G0015 (37 task orders, $3.5 million), and BOA N4034519G0001 (34 task orders, $20.4 million). All Navy parent vehicles are issued by Military Sealift Command, Naval Supply Systems Command, and Pacific Fleet Forces with no set-aside designation.

Activity has declined from 14 awards in 2023 to five in 2026 year-to-date, though the scale and value of recent awards obscure the count trend. Combined potential value across all 176 recent awards totals $365.5 million, with obligated dollars at $87.1 million (24% of potential value). The awards-per-year trajectory shows 11 awards in 2022, 14 in 2023, 13 in 2024, seven in 2025, and five in 2026, indicating a flattening of award frequency even as the Army TACOM awards introduced multi-hundred-million-dollar vehicles to the portfolio. A substantial recompete cliff is implicit in the January 2026 TACOM IDIQ awards: prior Navy BOA and IDC work will reach completion or require renewal over the next twenty-four months, and competition for the refresh of those vehicles will drive activity.

Subic Drydock functions almost entirely as a prime (98% of awards), with minimal subcontract work. Three sub-award instances appear in the source: a June 2025 Philippine Navy continuous maintenance availability sub under Amentum Services, Inc., a November 2024 maintenance labor overrun sub also under Amentum, and a March 2024 littoral combat ship post-maintenance availability execution sub under Epsilon Systems Solutions Inc. These subs are isolated and do not characterize the vendor's posture. The parent company, Cabras Marine Corporation, holds the woman-owned small business and HUBZone certifications that would have been available to Subic Drydock had it chosen to compete set-aside work; instead, Subic Drydock competes open and captures larger-value full-and-open procurements. The subsidiary structure allows Cabras Marine to hold its own separate prime contract portfolio while Subic Drydock manages the Philippines shipyard operations serving the Navy, MSC, and now the Army. NAICS coding is concentrated in Ship Building and Repairing (172 awards), with 161 of the 176 awards coded to PSC Non-Nuclear Ship Repair (West).