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DIAMOND STATE PORT CORPORATION SUBJECT OF NEW STATE AUDIT

Thursday, December 4, 2025 at 1:22 PM

DOVER Del. – A state performance audit has identified governance, oversight, and financial control concerns within the Diamond State Port Corporation, the agency that owns the Port of Wilmington. State officials say the review is the most comprehensive independent examination of port… The post DIAMOND STATE PORT CORPORATION SUBJECT OF NEW STATE AUDIT appeared first on TV Delmarva Channel 33.

DOVER Del. – A state performance audit has identified governance, oversight, and financial control concerns within the Diamond State Port Corporation, the agency that owns the Port of Wilmington. State officials say the review is the most comprehensive independent examination of port operations in three decades. According to information released by the Delaware Office of Auditor of Accounts, the audit evaluated DSPC operations, financial reporting, and performance between 2021 and 2025.
During that period, the agency received $233.2 million in state funding and $16.4 million in debt relief. The report also reviewed the accuracy of economic projections tied to the planned Edgemoor container facility. The findings follow major operational changes, including the end of DSPC’s concession agreement with Gulftainer in 2018 and a new operating contract with Enstructure in 2023. Nearly $200 million in state funds transferred to DSPC in early 2025 increased financial materiality and contributed to the audit’s scope.
The report identified five areas where DSPC did not meet established requirements. Auditors cited executive sessions that did not comply with state law, failures to carry out oversight responsibilities under concession agreements, missed concession payments from Gulftainer, outdated economic impact data for the Edgemoor project, and unenforced access and inspection rights. According to the auditor’s office, the review is intended to provide lawmakers and residents with greater visibility into port operations as public investment continues. The Office of Auditor of Accounts, established under the Delaware Constitution, is responsible for reviewing state financial activity, verifying revenue, and issuing reports to state leaders.

The full audit is available at auditor.delaware.gov.

Photo: Delaware State Auditor Lydia E. York | Delaware.gov

The post DIAMOND STATE PORT CORPORATION SUBJECT OF NEW STATE AUDIT appeared first on TV Delmarva Channel 33.

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