GLDD

GLDD ends year with $1.04 billion backlog

Houston-headquartered dredging giant Great Lakes Dredge & Dock Corporation (Nasdaq: GLDD) yesterday reported financial results for the quarter and year ended December 31, 2023. The numbers seemed to please investors, with the company’s share price up by 17.8% at the end of the trading day.

HIGHLIGHTS

Fourth quarter 2023 results

  • Revenue was $181.7 million
  • Total operating profit was $30.5 million
  • Net income was $21.6 million (includes $5.6 million gain related to the termination of an offshore wind...

https://www.marinelog.com/inland-coastal/dredging/gldd-ends-year-with-1-04-billion-backlog/

Empire Wind 2 rock installation contract terminated

Equinor and BP’s decision to “reset” the Empire Wind 2 offshore wind project (see earlier story) has led to another contract termination. As we noted in our report, the so-called “reset” decision was soon followed by termination of Seatrium’s contract for the Empire Wind 2 offshore substation (OSS) platforms. Now the rock installation contract has been scrubbed.

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) said last week that it had been informed of the termination of the Empire Wind 2...

https://www.marinelog.com/offshore/offshore-wind/empire-wind-2-rock-installation-contract-terminated/

GLDD books new dredging awards worth $173.7 million

Houston-headquartered Great Lakes Dredge & Dock Corporation reports that it has received a number of dredging awards totaling $173.7 million.

The dredging awards include:

  • Sabine-Neches Waterway Channel Improvement Project-Phase 1 (Capital, Texas, $62.8 million)
  • Great Egg Harbor Inlet Beach Renourishment Project (Coastal Protection, New Jersey, $33.8 million)
  • St. Augustine Shore Protection Project (Coastal Protection, Florida, $33.6 million)
  • Duval County Shore Protection Beach Renourishment...

https://www.marinelog.com/inland-coastal/dredging/gldd-books-new-dredging-awards-worth-173-7-million/

Another red ink quarter at GLDD

Shares in America’s largest provider of dredging services, Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), fell by 13.6% Wednesday after the company reported third quarter results that included a net loss of $6.2 million.

Third quarter 2023 highlights

  • Revenue was $117.2 million for the third quarter
  • Total operating loss was $5.1 million for the third quarter
  • Net loss was $6.2 million for the third quarter
  • Adjusted EBITDA was $5.3 million for the third quarter

“The...

https://www.marinelog.com/inland-coastal/dredging/another-red-ink-quarter-at-gldd/

GLDD awarded $33.7 million beach nourishment contract

America’s largest provider of dredging services, Houston-headquartered GreatLakes Dredge & Dock Corporation (NASDAQ: GLDD), has been awarded a $33,761,235 firm-fixed-price contract for beachnourishment. Bids were solicited via the internet with two received. Work will be performed in Cape May, N.J., with an estimated completion date of Aug. 9, 2024. Fiscal 2024 civil regulatory program funds in the amount of $33,761,235 were obligated at the time of the award. U.S. Army Corps of Engineers,...

https://www.marinelog.com/inland-coastal/dredging/gldd-awarded-33-7-million-beach-nourishment-contract/

GLDD takes delivery of first U.S.-built Multi Cats

Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD) has taken delivery of the first two Damen Multi Cats to be built in the U.S.A.

Damen licenses Conrad to build two Multi Cats for GLDD

Built under license by Conrad Shipyard and fully compliant with USCG and USACE stability criteria, the two identical Damen 3013 Multi Cats, the Cape Hatteras and Cape Canaveral, each measure approximately 99 feet in length and are each powered by three EPA Tier III Caterpillar C32 TTA...

https://www.marinelog.com/inland-coastal/dredging/gldd-takes-delivery-of-first-u-s-built-multi-cats/

New awards take GLDD dredging backlog to $1.1 billion

America’s largest provider of dredging services, Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), reports that it has booked recent awards totaling $177 million, taking its dredging backlog to approximately $1.1 billion.

The awards include:

  • Orange Beach, Gulf State Park, Gulf Shores Engineered Beach Renourishment Project (Coastal Protection, Alabama, $32.8 million)
  • Fire Island Inlet to Montauk Inlet, PL 84-99 Rehabilitation Project (Coastal Protection, New York, $27.1...

https://www.marinelog.com/inland-coastal/new-awards-take-gldd-dredging-backlog-to-1-1-billion/

GLDD exercises option with Conrad for second TSHD

Houston-headquartered Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) has exercised a contract option to build a second 6,500-cubic-yard-capacity trailing suction hopper dredge (TSHD) at Conrad Shipyard in Amelia, La.

With expected delivery in the first quarter of 2025, the new vessel will be a sister ship to the Galveston Island, which is presently under construction at Conrad with delivery set for early 2023.

Great Lakes’ hopper dredge fleet including the ATB tug Douglas B. Mackie and...

https://www.marinelog.com/inland-coastal/dredging/gldd-exercises-option-with-conrad-for-second-tshd/

Great Lakes Dredge CEO: “We’re 100% vaxxed”

“I’m very proud of meeting our target of 100% vaccination of all team members in the third quarter last year,” Lasse Petterson, CEO of Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), told financial analysts in a call in this week, adding that “due to our vaccination efforts we have experienced less severe impacts from the virus infections. Throughout [2021] we avoided team members being hospitalized and no team member tested positive for COVID-19 from September through early December.”

The...

https://www.marinelog.com/inland-coastal/dredging/great-lakes-dredge-ceo-were-100-vaxxed/

GLDD books contracts worth $88.1 million

Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), America’s largest provider of dredging services is to carry out a contract on Oak Island. No, not the Oak Island in Nova Scotia known to History Channel fans as the place where the Knights Templar might have hidden the Lost Ark., but Oak Island, N.C.

The Oak Island, N.C., contract is one of several major dredging awards, totaling $88.1 million, reported by GLDD yesterday.

The awarded work includes:

  • Sea Bright to Manasquan, Section II Beach...

https://www.marinelog.com/inland-coastal/gldd-books-contracts-worth-88-1-million/

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