Project Submission:
Construction of the First U.S. Flagged Jone Act-compliant SRI Vessel
Great Lakes Dredge & Dock Company, LLC is fully engaged in the rapidly developing U.S.
offshore wind market. Its first step in this effort is the investment into the construction of the first U.S. flagged Jones Act-compliant, subsea rock installation (SRI) vessel. The vessel is currently under construction and will set new standards for efficiency and innovation with its large capacity, accurate placement technology, innovative battery, and alternative fuel system.
The company’s journey to seize this unique, once-in-a-generation opportunity to enter the offshore wind market is complex and challenging. Challenges include:
- Design and construction of a rock installation vessel, which has never been built in the U.S.
- Identifying a U.S. shipyard with the capability and capacity to build a large offshore wind vessel on time to support the booming U.S. offshore wind market
- De-risking and financing a major investment in the order of $200M
- Winning installation contracts to build a multi-year backlog for the vessel while the company has no track record in rock installation,
- Building an offshore wind team within GLDD capable of operating this specialized offshore wind rock installation vessel
- Entering partnership agreements with global leaders in offshore wind installations
