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New Hopper Dredge for Great Lakes Company

Maritime Activity Reports, Inc.

January 26, 2000

Great Lakes Dredge and Dock Company announced it has commissioned Bay Shipbuilding of Sturgeon Bay, Wis. to construct a new trailing suction hopper dredge, to be called Liberty Island. The new dredge will have a capacity of 5,000 cubic meters and is part of a continuing investment program the company has undertaken to ensure the quality and longevity of its dredging fleet. The vessel is to be built by Bay Shipbuilding, a division of Manitowoc Marine Group, Inc., of Milwaukee. Construction is being financed by MDFC Equipment Leasing Corp. Liberty Island will bring to 45 the number of hulls Bay Shipbuilding has manufactured for the 110-year-old dredging contractor. Steel cutting for the first module is scheduled for February 15, 2000 and delivery is scheduled for fall of 2001. When construction is completed, U.S.-flagged Liberty Island will be classified as an ABS +A1 Dredger +AMS, ACCU. The vessel will measure 315 ft. in length, with a breadth of 59 ft. The depth of the hull will be 28 ft. Two 5,000 hp engines will provide both propulsion and power for the dredging pumps. The dredge will be equipped with controllable-pitch propellers. Loaded, her speed will be 14 knots, 15.3 knots light. The vessel will be capable of a dredging depth of 108 ft. Material will be discharged through the bow coupling or via bottom doors.

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