Great Lakes Announces Exercise of Option to Build Second 6,500 cubic yard Trailing Suction Hopper Dredge
June 07 2022 - 4:05PM
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 exercise of the
contract option to build a second 6,500-cubic-yard-capacity
Trailing Suction Hopper Dredge with Conrad Shipyard (“Conrad”) in
Amelia, Louisiana. With expected delivery in the first quarter of
2025, the new vessel will be a sister ship to the Galveston Island,
presently under construction with delivery in early 2023.
Great Lakes’ hopper dredge fleet including the ATB Tug Douglas
B. Mackie and 15,000-cubic-yard-capacity barge Ellis Island and the
Galveston, Liberty, Terrapin, Dodge and Padre Islands, comprise the
largest hopper fleet in the U.S. dredging industry.
Lasse Petterson, President and Chief Executive Officer
commented, “As the leader in the U.S. Dredging industry, Great
Lakes continues to strategically invest in its dredging fleet. This
highly automated new build vessel will be well-suited to multi-use
applications on various project types. It will be deployed for
channel deepening, maintenance dredging, beach nourishment, and
coastal restoration projects to meet our nations’ maritime
infrastructure needs. This vessel reinforces our commitment to the
U.S. Army Corps of Engineers and the robust U.S. dredging
market.
Construction of the Galveston Island at Conrad has progressed on
schedule and on budget. We are very pleased with the quality of
construction and our strong partnership with Conrad.”
This new build supports the continued modernization and
diversification of Great Lakes’ fleet. The dredge is identical to
the Galveston Island and will feature two 800mm suction pipes and
will be able to dredge at depths of up to 100 feet, with principal
dimensions of approximately 346 feet in length, 69 feet in breadth,
23 feet in depth and 16,500 total installed horsepower.
The dredge will be equipped with a direct high-power pump-ashore
installation, dredging system automation, dynamic positioning and
tracking, U.S. EPA Tier IV compliant engines, and additional
features designed to minimize the impact of its dredging process on
the environment. The Tier 4-compliant engines significantly
reduce the vessel’s climate footprint, while other incorporated
features minimize turbidity and marine species entrainment.
Best-in-class accommodations feature single-occupancy staterooms, a
workout room, and an innovative movie theater with raised seating
that doubles as a training facility.
The Company
Great Lakes Dredge & Dock Corporation is the largest
provider of dredging services in the United States. In addition,
Great Lakes is fully engaged in expanding its core business into
the rapidly developing offshore wind energy industry. The Company
has a long history of performing significant international
projects. The Company employs experienced civil, ocean and
mechanical engineering staff in its estimating, production and
project management functions. In its over 132-year history, the
Company has never failed to complete a marine project. Great Lakes
owns and operates the largest and most diverse fleet in the U.S.
dredging industry, comprised of approximately 200 specialized
vessels. Great Lakes has a disciplined training program for
engineers that ensures experienced-based performance as they
advance through Company operations. The Company’s Incident-and
Injury-Free® (IIF®) safety management program is integrated into
all aspects of the Company’s culture. The Company’s commitment to
the IIF® culture promotes a work environment where employee safety
is paramount.
For further information contact: Tina
BaginskisDirector, Investor
Relations630-574-3024
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