Bollinger Shipyards announced the receipt of a $951.6 million Fixed-Price-Incentive-Firm Target (FPIF) contract modification from the United States Coast Guard, according to the company's release.
This modification advances the Detail Design and Construction phase of the Polar Security Cutter (PSC) Program.
Ben Bordelon, President and CEO of Bollinger Shipyards, stated, "Securing this contract modification has truly been a herculean effort and underscores the incredible trust the U.S. Government has placed in Bollinger to build and deliver the first heavy polar icebreaker in half a century."
Since acquiring VT Halter Marine in November 2022, Bollinger has invested $76 million across its Mississippi facilities and increased its Mississippi workforce by over 61%. The company anticipates further growth as the PSC program progresses.
The first Polar Security Cutter, named USCGC Polar Sentinel, will measure approximately 460 feet in length and be powered by a diesel-electric engine with 45,200 horsepower, enabling it to navigate through ice up to 8 feet thick. Completion is anticipated by May 2030.
Bollinger Shipyards is a designer and builder of high-performance military patrol boats, salvage vessels, and research vessels, with 13 shipyards across Louisiana and Mississippi.
United States Coast Guard is a branch of the U.S. Armed Forces responsible for maritime law enforcement, search and rescue, and environmental protection.