Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), a Houston-based company, has recently announced the acquisition of multiple dredging contracts totaling $256.2 million. These contracts include a range of capital improvement, coastal protection, and maintenance projects that will support environmental and infrastructure development across the U.S.
Major Dredging Projects Awarded to Great Lakes Dredge & Dock
The awarded contracts span various states and dredging categories, including harbor deepening, beach renourishment, and maintenance dredging. Below are the major projects included in the award:
- Mobile Harbor, Alabama Deepening and Widening – Phase 2A Dredging Project (Capital, Alabama, $65.9 million)
- Port Everglades Sand Bypass Dredging Project (Capital, Florida, $59.8 million)
- Barnegat Inlet to Little Egg Inlet, Long Beach Island Beach Renourishment (Coastal Protection, New Jersey, $54.4 million)
- Fire Island Inlet Dredging Project (Coastal Protection, New York, $52.0 million)
- North Wildwood Emergency Beach Renourishment Project (Coastal Protection, New Jersey, $14.8 million)
- St. Lucie Inlet Maintenance Dredging Project (Maintenance, Florida, $9.3 million)
Expanding the Dredging Pipeline to Over $1.2 Billion
Great Lakes Dredge & Dock (GLDD) continues to strengthen its position in the dredging industry. In addition to the awarded contracts, GLDD has approximately $318 million in low bids and pending options, including two projects where they were the lowest bidder this month. This increases the potential total pipeline of work to over $1.2 billion.
CEO Statement on New Contracts
“These important projects allow Great Lakes to contribute to the improvement and resiliency of our country’s environment, coastlines, and infrastructure,” said Lasse Petterson, President and CEO of GLDD. “With these new awards and the pending options, we are excited about the growth opportunities ahead.”
Project Breakdown: Mobile Harbor, Alabama Deepening and Widening
Mobile Harbor, Alabama Deepening and Widening – Phase 2A, valued at $65.9 million, involves deepening the channel by six feet to improve navigation for deeper-draft vessels. The dredged material will be repurposed for the Sand Island Beneficial Use Area, promoting sustainable practices.
- Client: U.S. Army Corps of Engineers, Mobile District
- Funding: Federally funded
- Project Start Date: Q4 2024
- Completion Date: Spring 2025
This project is crucial for improving port efficiency and supporting Alabama’s growing maritime activities.
Benefits of Harbor Deepening Projects
Harbor deepening projects are essential for accommodating larger vessels, improving trade routes, and boosting local economies. The Mobile Harbor project aligns with national goals to enhance maritime infrastructure.
Sustainable Solutions: Port Everglades Sand Bypass Dredging Project
The Port Everglades Sand Bypass Project, valued at $59.8 million, is focused on providing a renewable local source of sand for beach renourishment in Broward County, Florida. The project involves constructing a sand trap to collect sand that would otherwise be lost through erosion, ensuring a long-term solution for coastal protection.
- Client: Broward County, Florida
- Funding: State and locally funded
- Project Start Date: Second half of 2025
- Completion Date: 2026
This innovative project highlights the importance of sustainable coastal management and the role of local resources in protecting shorelines.
The Importance of Sand Bypass Systems in Coastal Protection
Sand bypass systems help maintain natural sand movement along coastlines, reducing erosion and protecting coastal properties. The Port Everglades project ensures Broward County’s beaches remain resilient against future environmental threats.
Coastal Protection: Long Beach Island Beach Renourishment Project
The Barnegat Inlet to Little Egg Inlet, Long Beach Island Beach Renourishment Project will restore the dune and berm system along New Jersey’s coastline. The project, valued at $54.4 million, includes beach fill placement to repair damage caused by erosion and storms.
- Client: U.S. Army Corps of Engineers, Philadelphia District
- Funding: Federally funded
- Project Start Date: Q4 2024
- Completion Date: Q3 2025
This project will protect local communities from flooding and storm surges, safeguarding New Jersey’s coastline.
How Beach Renourishment Projects Protect Communities
Beach renourishment not only restores shorelines but also acts as a buffer against extreme weather events, preserving both the environment and infrastructure.
Emergency Response: Fire Island Inlet Dredging Project
The Fire Island Inlet Dredging Project, valued at $52.0 million, is an emergency project aimed at providing immediate beach fill and shore protection to communities along Fire Island, New York. This critical project addresses erosion and storm damage.
- Client: U.S. Army Corps of Engineers, New York District
- Funding: Federally funded
- Project Start Date: Q4 2024
- Completion Date: First half of 2025
Addressing Coastal Erosion with Emergency Dredging
Emergency dredging projects, like Fire Island’s, play a vital role in preventing further erosion and protecting coastal communities from the immediate threats of storms and rising sea levels.
Smaller Projects: North Wildwood and St. Lucie Inlet Dredging
The North Wildwood Emergency Beach Renourishment Project, valued at $14.8 million, was completed in Q2 2024. This project provided essential sand to protect properties along New Jersey’s coast.
The St. Lucie Inlet Maintenance Dredging Project, valued at $9.3 million, involves maintaining the inlet’s entrance channel and impoundment basin. Work on this federally funded project began in July 2024 and is expected to be completed in Q3 2024.
The Role of Maintenance Dredging in Coastal Management
Regular maintenance dredging is essential for keeping inlets navigable and preventing sediment build-up, ensuring smooth maritime operations and reducing flooding risks.
Conclusion
With these new contracts, Great Lakes Dredge & Dock Corporation continues to play a pivotal role in enhancing the U.S.’s maritime and coastal infrastructure. From harbor deepening to beach renourishment, these projects support economic growth, environmental sustainability, and community protection. The company’s extensive pipeline of work positions it as a leader in the dredging industry, ready to meet the challenges of tomorrow.