Great Lakes Dredge books contracts worth $141 million

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) reports that he has been awarded several major dredging contracts totaling $141 million.

The awarded work includes:

• Jacksonville Deepening Contract B Option (Capital Deepening, Florida, $96.6 million);
• Baltimore Harbor (Maintenance, Maryland, $38.4 million);
• Boston Harbor (Maintenance, Massachusetts, $5.6 million).

The base scope for the Jacksonville Deepening Contract B was won in 2018 and the option work is a continuation of channel deepening an additional 2.5 miles upriver. Work is expected to begin in September with completion in late 2020.

The Baltimore Harbor project involves maintenance dredging of the sea-lanes into Baltimore and is expected to commence in the first quarter of 2020. Dredge material is to be pumped for beneficial use.

The Boston Harbor project is maintenance dredging of the inner harbor channels and is expected to commence in late September.

David Simonelli, the company’s President of Dredging commented, “We are pleased to announce these significant capital and maintenance dredging awards for our Company. We expect these projects to contribute positively to Great Lakes’ performance this year and in 2020 and contribute to the strengthening of the U.S. infrastructure.”