First Jones Act Offshore Rock Installation Vessel Launched in Philadelphia

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has launched the Acadia at Hanwha Philly Shipyard, marking a significant milestone in the U.S. offshore wind and maritime industry. The vessel represents the first U.S. flagged, Jones Act-compliant subsea rock installation (SRI) vessel.

The Acadia is designed to transport and precisely install up to 20,000 metric tons of rock on the seabed, providing critical scour protection for subsea infrastructure including cables, pipelines, and offshore wind turbine foundations.

“We are excited to see the launch of the Acadia, getting us closer to her expected delivery early next year which will also mark the completion of our major new build program,” said Lasse Petterson, President and Chief Executive Officer of Great Lakes. “The Acadia is the centerpiece of our Offshore Energy growth strategy and will begin operations immediately upon leaving the shipyard.”

The vessel has already secured contracts through the end of 2026, with its first assignment being rock installation for the Empire Wind I offshore wind farm in New York. According to Eleni Beyko, Senior Vice President of Offshore Energy, the company has been actively engaging with clients for projects beyond 2027.

Construction of the Acadia created more than one million manhours of high-paying jobs, using steel sourced from Ohio and labor from New Jersey, Pennsylvania, Texas, and Louisiana. Once operational, it will employ U.S. mariners for years to come.

Great Lakes Dredge & Dock Corporation, with its 135-year history, is the largest provider of dredging services in the United States. The company operates approximately 200 specialized vessels and is expanding its core business into the offshore energy industry.

The launch comes amid renewed focus on America’s maritime sector, highlighted by President Trump’s recent “Restoring America’s Maritime Dominance” executive order signed in April, which aims to counter China’s dominance in the global maritime industry.

Hanwha acquired the historic Philly Shipyard in December, marking the first Korean shipbuilder to establish operations in the United States.

The launch coincides with Hanwha Philly Shipyard securing an order for a liquefied natural gas (LNG) carrier from Hanwha Shipping, a unit of South Korean conglomerate Hanwha Group, representing the first U.S.-ordered, export-market-viable LNG carrier in almost 50 years.

In addition to the Acadia and LNG carrier, Hanwha Philly Shipyard’s orderbook includes five National Security Multi-Mission Vessels for the U.S. Maritime Administration (two already delivered) and three containerships for Matson.

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