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Great Lakes Dredge & Dock Company Sues Philly Shipyard Over $197 Million Contract Delay

Nov 25, 2024•over 1 year ago

Contract Type

contract

PhiladelphiaManufacturingBiotechnologyEnergyEducation

Description

Great Lakes Dredge & Dock Company (GLDD) has filed a lawsuit against Philly Shipyard due to delays and disagreements over the construction plan for the Subsea Rock Installation Vessel (SRV), a crucial project for supporting offshore wind installations in the U.S. The $197 million contract awarded to Philly Shipyard in November 2021 has been delayed with the vessel originally scheduled for delivery by November 15, 2024, now pushed back to February 2025 and could stretch to September 2026.

Company Information

Company

Philly Shipyard

Location

Philadelphia, Pennsylvania, United States

About

Philly Shipyard is a leading U.S. shipbuilder that specializes in constructing vessels compliant with the Jones Act and training vessels for the U.S. Maritime Administration (MARAD). Established in 1997, Philly Shipyard delivers approximately half of the large U.S. Jones Act commercial ships, including tankers and container ships. It is a public company controlled by Aker ASA, a Norwegian industrial investment company with ownership interests in energy, green technologies, and marine biotechnology.

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