Page 21: of Marine News Magazine (February 2024)

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Washington Watch 2 project had also been terminated. Notwithstanding the rather Equinor and BP will look to recompete for a new contract’s termination, GLDD’s Jones Act-compliant Sub- NYSERDA OREC Agreement in 2024 (of course, with a sea Rock Installation Vessel (SRIV) remains under con- substantially higher price per megawatt-hour to offset the struction at Philly Shipyard. Indeed, it was only last July macroeconomic challenges highlighted by Equinor and BP that President Joe Biden attended the steel cutting ceremo- in their OREC termination announcement quoted above).

ny for GLDD’s SRIV at Philly Shipyard, highlighting the The key to reversing the current course in 2024 will, of success of an “American owned, American operated” ves- course, remain strong government support. One area that we sel with steel “being made by the United Steelworkers in have seen recent, strong government commitment is in the

Indiana”, an engine “made by the United States Electrical, development of marine terminals to support offshore wind

Radio and Machine Workers in Pittsburgh”, and American construction and operation. As previously reported, the mariners from Seafarers International Union. Maritime Administration (MARAD) announced the award

Notwithstanding these challenges, overall political sup- of more than $653 million in Port Infrastructure Program port for U.S. offshore wind development remains steadfast. (PIDP) grants in November 2023. A signi