Dredging Contracts News

Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, Saltchuk will commence a tender offer to acquire all outstanding shares of the Company for $17.00 per share in cash. The per share purchase price represents a 25% premium to Great Lakes’s 90-day volume-weighted average price as of February 10…

Damen Shipyards Group has announced the successful delivery of four advanced dredging component packages for Trailing Suction Hopper Dredgers (TSHDs). These vessels, which are being constructed at different shipyards in Central America, where two of them have already successfully undergone various dredge trials and have been accepted by the customer, while the remaining two are expected to be finished in 2026. The TSHDs are equipped with a dredge package designed and manufactured by Damen.

During the IADC Annual General Meeting in Barcelona, IADC President Frank Verhoeven revealed the winner of the Safety Award 2023: Boskalis for its improved safety design of the water box.Boskalis introduced new water boxes for sand fill areas, a design which is touted as greatly improving safety for its employees. The water boxes have been designed, calculated and constructed in such a way that the risk of implosion due to soil pressure is eliminated.Using an adjustable platform on the outside of the water box…

Great Lakes Dredge & Dock Corporation announced it has signed a $92.5 million dredging contract for the Houston Ship Channel Widening and Improvement Project 11. This is the first phase of the extensive, multi-phase Houston Ship Channel billion-dollar expansion and deepening program. Dredging is expected to commence in the first quarter of 2022 with estimated completion in the fourth quarter of 2022.Project 11 is a plan to widen the 52- mile Houston Ship Channel which winds from the Gulf of Mexico through shallow Galveston Bay and up through the port.