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Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), the largest provider of dredging services in the United States, has announced the receipt of several major dredging awards totaling $107 million.
The awarded work encompasses projects in four states and maintenance work in New York and the Carolinas. They include:
“Great Lakes is pleased to add these projects to our backlog of deepening and maintenance dredging projects that will contribute to both our 2022 and 2023 performance,” said David Simonelli, Chief Operating Officer. “In addition, the land being created at the New Jersey Wind Port project will support the state of New Jersey’s efforts towards renewable energy development. All of these projects support the overall improvement and resiliency of our country’s environment, coastlines and infrastructure.”
Details of each award are below:
The Norfolk Harbor Navigation Improvements Project, awarded in the third quarter of 2022, entails work to deepen and widen the Thimble Shoal Federal Navigation Channel within the approximately five statutory mile segment beginning approximately 3 miles west of the Chesapeake Bay Bridge-Tunnel westward to naturally deep water. The Thimble Shoal Federal Navigation Channel is the main thoroughfare into Norfolk Harbor. The project will assist the harbor in increasing cargo capacity for the Port which benefits not only Norfolk, but the region as a whole when it commences. The client on this project is the Virginia Port Authority and is state funded. Work is expected to complete by the end of the third quarter of 2023.
The Charleston Lower Harbor Maintenance Dredging Project, awarded in the second quarter of 2022, is the first maintenance work project in this harbor since the completion of its deepening projects. The work consists of maintenance dredging of material from Charleston Lower Harbor which shall be deposited in the Charleston Ocean Dredged Material Disposal Site (ODMDS). The client on this project is the U.S. Army Corps of Engineers, Charleston District and is federally funded. The dredging work has already commenced with estimated completion in December 2022.
The Tampa Harbor Maintenance Dredging 45-Foot Project, awarded in the third quarter of 2022, consists of dredging in the Tampa Harbor Entrance Channel to maintain the channel for ships servicing Port Tampa Bay. All dredged material will be beneficially placed on Egmont Key. Awarded value is for the base contract with options still pending of approximately $14.5 million. The client on this project is U.S. Army Corps of Engineers, Jacksonville District and is federally funded. Work is expected to commence in the Fall of 2022 to be competed in the first quarter of 2023.
The New Jersey Wind Port, Stage 1, Access Channel Dredging Project, awarded in the second quarter of 2022, will create a navigation channel from the federal Delaware River Channel to this hub-style offshore wind marshalling port. The NJ Wind Port will be the first purpose-built wind port on the East Coast, providing heavy-lift and component facilities with open access to the Atlantic Ocean. The port will serve offshore wind lease areas in New Jersey and elsewhere on the U.S. East Coast. The New Jersey Economic Development Authority (NJEDA) is the lead agency supporting the port development. The New Jersey Department of Transportation (NJDOT) is the contracting authority for the Access Channel Dredging Project. The dredging work has already commenced and is expected to be completed in the third quarter of 2022.
In addition, Great Lakes was awarded a number of smaller maintenance projects that included The East Rockaway Inlet Maintenance Dredging Project in New York, the Military Ocean Terminal (MOTSU) Maintenance Dredging Project in North Carolina, the Maintenance Dredging of the Buttermilk Channel in New York and the Berth Maintenance Dredging Project in South Carolina.
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