Containership ‘ONE ORPHEUS’ Grounds in Suez Canal
CAIRO, Dec 6 (Reuters) – A container ship collided with a floating bridge in the eastern lane of the Suez Canal on Wednesday but the passage of ships through the waterway would not be...
Great Lakes Dredge and Dock Company’s eco-friendly dredge Carolina. Photo: Port Houston
Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced Wednesday the receipt of several major dredging awards totaling $143.5 million with open options pending award of $102.9 million.
Projects include:
“We have seen the U.S. Army Corps of Engineers bidding gain momentum in the third quarter after a significant delayed first half of the year,” says Lasse Petterson, President and Chief Executive Officer. “Although the bid market was recovering in the third quarter, the commencement of this work due to delayed bidding will mostly be worked in 2023. This unanticipated and atypical delay will continue to impact our fourth quarter.
“Despite the bid market challenges, Great Lakes is pleased to add the above projects to our backlog of coastal protection and maintenance dredging projects which will predominantly contribute to our 2023 performance, which is expected to be stronger than 2022. Sever weather, like Hurricane Ian, continues to batter our coasts, so there is a great need for above listed projects and similar projects to continue to support the overall improvement and resiliency of our country’s environment, coastlines and infrastructure,” adds Petterson.
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