Great Lakes Dredge & Dock Inks Contract With Philly Shipyard To Build Jones-Act Compliant Vessel

  • Great Lakes Dredge & Dock Corp GLDD signed a contract with Philly Shipyard, Inc to build the first U.S.-flagged Jones Act-compliant, inclined fallpipe vessel for subsea rock installation. This contract is valued at ~$197 million.
  • This vessel will service the offshore wind energy industry and help reach the Biden administration's ambitious 30 GW offshore wind goal by 2030.
  • The vessel will transport and deposit loads of rock on the seabed, laying scour protection for offshore wind farm foundations, cables, and other structures.
  • The vessel is expected to be sea-ready by Q4 2024.
  • Price Action: GLDD shares are trading higher by 0.44% at $16.02 on the last check Tuesday.

Posted In: BriefsNewsContractsSmall Cap

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.