The audit is the most comprehensive independent review of DSPC operations in three decades

DOVER, DE — The Delaware Office of Auditor of Accounts (AOA) issued a performance audit today of the Diamond State Port Corporation (DSPC), the State agency that owns the Port of Wilmington. The audit evaluated the effectiveness of DSPC’s operations, metrics, and financial reporting between 2021 and 2025, during which time DSPC received $233.2 million in State funds and $16.4 million in debt relief. Auditors also reviewed the accuracy and reliability of economic impact projections for the planned Edgemoor container facility.

The audit report is the most comprehensive independent review of DSPC’s operations since the State of Delaware purchased the Port of Wilmington in 1995. In the time period audited, DSPC canceled a 2018 concession agreement with Gulftainer (GT USA), and entered into a new agreement with current port operator Enstructure in 2023. In early 2025, the State transferred funds totaling nearly $200 million to DSPC, increasing the agency’s materiality and prompting AOA’s audit.

“As your State Auditor, I promised to lead this office to make Delaware government more transparent and accountable,” said State Auditor Lydia E. York. “That is what this report represents. I believe this performance audit sets a new standard for government transparency in our State.

“The Port of Wilmington is a critical economic driver for Delaware, and it is also our State’s largest single asset. I believe Delaware residents and lawmakers should have as much information as possible as taxpayers continue to invest in the future of the Port and Edgemoor. I want to thank the DSPC Board for their cooperation as our State enters into a new chapter of Edgemoor development.”

The performance audit report contains five findings, where auditors made determinations about DSPC performance compared to their identified scope and criteria. The findings include:

1. DSPC Board executive sessions that did not meet State requirements
2. Governance and oversight requirements of the DSPC Concession Agreements with GT USA and Enstructure not performed
3. Collection of concession payments from GT USA to DSPC not executed
4. Data for economic impact projections of Edgemoor project not up to date
5. DSPC access and inspection rights not enforced

Click here to view the full performance audit PDF online.

To read the complete report or subscribe to future releases, visit: https//auditor.delaware.gov/reports

The Office of Auditor of Accounts was established by Article III, Section 21 of the Delaware Constitution. AOA duties under 29 Del. C. c. 29 include:

• Reviewing state financial transactions
• Verifying that state revenues are properly collected and deposited
• Filing audit reports with the Governor, General Assembly, and other officials

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