It's on us. Share your news here.

Great Lakes Announces Receipt Of $182 Million In Awarded Work

Posted on December 19, 2024

HOUSTON, Dec. 19, 2024 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the receipt of several dredging awards totaling $182 million.

The awarded work includes:

  • Manasquan Inlet to Barnegat Inlet Ocean City Beach Renourishment Project (Coastal Protection, New Jersey, $73.6 million)
  • Myrtle Beach Renourishment Project (Coastal Protection, South Carolina, $72.3 million)
  • Sagaponack and Bridgehampton Beach Erosion Control District Nourishment Project (Coastal Protection, New York, $19.6 million)
  • Phipps Ocean Park Beach Nourishment Project (Coastal Protection, Florida, $16.5 million)

The Manasquan Inlet to Barnegat Inlet Ocean City Beach Renourishment Project, which was included in the third quarter 2024 low bids pending award, will provide coastal storm damage reduction by maintaining an engineered beach throughout the Manasquan Inlet to Barnegat Inlet project area. The project is located along the Atlantic Ocean coastline of Ocean County, New Jersey, between Manasquan Inlet and Barnegat Inlet. The project area encompasses a total of 13 miles of ocean shoreline which includes the contiguous municipalities of Point Pleasant Beach, Bay Head, Mantoloking, Brick Township, Toms River Township, Lavallette, Seaside Heights, Seaside Park, and Berkeley Township. The project also includes an additional $41.4 million in open options pending award. The client on this project is the U.S. Army Corps of Engineers, Philadelphia District and is federally funded. Work is expected to start in the first quarter of 2025 with estimated completion in the third quarter of 2025.

The Myrtle Beach Renourishment Project, which was included in the third quarter 2024 low bids pending award, involves placement of dredged material on Myrtle, Garden City and Surfside beaches. The client on this project is the U.S. Army Corps of Engineers, Charleston District and is federally funded. Great Lakes performed similar work in these areas in 2007 and 2018. Work is expected to start in fourth quarter of 2025 with estimated completion in the first quarter of 2026.

The Sagaponack and Bridgehampton Beach Erosion Control District Nourishment Project, which was included in the third quarter 2024 low bids pending award, entails renourishing the Sagaponack and Bridgehampton beaches to repair the dunes and infrastructure damage that has been impacted by beach erosion.   This project is locally funded. Work is expected to start in the first quarter of 2025 with estimated completion in the second quarter of 2025.

The Phipps Ocean Park Beach Project, which was included in the third quarter 2024 low bids pending award, involves beach renourishment in Phipps Ocean Park and adjacent areas that were damaged by Hurricanes Ian and Nicole and includes dredging sand from an offshore borrow area and placed on the dunes to nourish the beach and provide additional coastal protection. The client on this project is the Town of Palm Beach and is state and locally funded. Work is expected to start at the end of 2024 with estimated completion in the first quarter of 2025.

Lasse Petterson, President and Chief Executive Officer commented, “Our coastlines are facing ongoing damage from storm, rising water levels, and broader impacts of climate change. These coastal protection projects will support revitalizing and enhancing shoreline protections which is a critical infrastructure priority in the United States. These important projects add to our expanding record backlog of work for 2025.”

It's on us. Share your news here.
Submit Your News Today

Join Our
Newsletter
Click to Subscribe