Great Lakes Dredge & Dock Corporation (GLDD) announced yesterday the receipt of several major dredging awards totaling $143.5 million with open options pending award of $102.9 million.
According to Lasse Petterson , President and Chief Executive Officer, the Army Corps bidding gained momentum in the third quarter after a significant delayed first half of the year.
“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,” said Petterson.
He also added that 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.”
The awarded work includes:
The South Atlantic Division Regional Harbor Dredging 2023 Project includes work to maintain shipping channels by dredging material from the entrance channels of Brunswick and Savannah in Georgia, of Wilmington and Morehead City in North Carolina, and of Charleston in South Carolina. This project has $12.7 million of option work pending award. Work is expected to commence in December of 2022 with estimated completion in August 2023.
The Fire Island Inlet to Montauk Point, Contract 2 Project includes dredging of sand from Shinnecock and Moriches Inlets with beneficial placement on beaches along vulnerable areas of coastline in Suffolk County from Fire Island Inlet to Montauk Point. Work is expected to commence in the fourth quarter of 2022 with estimated completion in the first quarter of 2023.
The Great Egg Harbor Inlet and Peck Beach Ocean City Beach Renourishment Project entails placement of sand from the Great Egg Harbor Inlet borrow area onto the beaches of Ocean City, New Jersey, to reduce hurricane and storm damage. This project has $5.8 million of option work pending award. Work is expected to commence in the fourth quarter of 2022 with estimated completion in the first quarter 2023.
Houston Ship Channel, Redfish to Beacon 78 and Bayport Flare Dredging Project entails maintenance dredging to maintain navigable waterways for Houston Ports and Harbors. This project has $25.6 million of option work pending award. Work is expected to commence in the fourth quarter of 2022 with estimated completion in the first quarter of 2023.
The Naval Submarine Base Kings Bay Maintenance Dredging Project includes maintenance dredging of the entrance channel where beach compatible material will be excavated and beneficially placed on Fort Clinch Beach and Fernandina Beach. All other material will be placed in a designated offshore disposal site. Work is expected to commence and complete in the first quarter of 2023.
The Gulf Coast Regional Hopper Dredge Rental Contract includes dredging to maintain the operating depths in the Mississippi River and in the Gulfport bar channel with disposal in designated Offshore Dredge Material Disposal Sites. This contract has $7.2 million in open options pending award. Work is expected to commence in March of 2023 with estimated completion in October 2023.
The Mobile Harbor Dredging Project includes dredging to maintain the operating depths in the Mobile Harbor. Work will be performed in Irvington, Alabama. Work is expected to commence in January of 2023 with estimated completion in April of 2023.
The McLellan-Kerr Arkansas River Navigation System Station Dredging Project entails dredging to return navigation channels to authorized depths. This project has $51.6 million of option work pending award. Work is expected to commence in the fourth quarter of 2022 and complete in the first quarter of 2023.