MarAd will pay Bay Bridge Enterprises $494,000 to remove the Vulcan and tow it to its Chesapeake salvage yard on the Elizabeth River within 45 days.
The Vulcan is a former Navy repair ship built in 1941. The Vulcan will be recycled for steel. The company will also remove and dispose of waste fuels and other potential pollutants on the ship.
Bay Bridge Enterprises has gotten several contracts to scrap Ghost Fleet ships
from the Maritime Administration.