Great Lakes Dredge & Dock Corporation (Great Lakes), incorporated on August 07, 2006, is a provider of dredging services. Great Lakes provides dredging services in the East, West and Gulf Coasts of the United States and around the world. The Company operates in two segments: Dredging Operations, which involves enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock, and Environmental & Remediation Operations, which provides construction services on soil, water and sediment for clients in both the public and private sectors in the United States. The Company has interest in Amboy Aggregates (Amboy), which is involved in mining sand from the entrance channel to New York Harbor for providing sand and aggregate for use in road and building construction, and for clean land fill; Lower Main Street Development, LLC (Lower Main), which is engaged in land development and sale business, and TerraSea Environmental Solutions (TerraSea), which is engaged in the environmental services business.
Dredging Operations
Dredging Operations are performed in coastal waterways and deep water ports. The United States dredging market consists of over four primary types of work: capital, coastal protection, maintenance, and rivers and lakes.
Capital dredging consists primarily of port expansion projects, which involve the deepening of channels to allow access by larger, deeper draft ships and the provision of land fill used to expand port facilities. In addition to port work, capital projects also include land reclamations, trench digging for pipelines, tunnels and cables, and other dredging related to the construction of breakwaters, jetties, canals and other marine structures. Foreign capital projects typically involve land reclamations, channel deepening and port infrastructure development. The Company targets foreign opportunities that are suited to the Company's equipment. The Company has performed dredging work in the Middle East, Africa, India, Australia, the Caribbean and Central and South America.
Coastal protection projects generally involve moving sand from the ocean floor to shoreline locations where erosion threatens shoreline assets. Beach erosion is a continuous problem that has intensified with the rise in coastal development and has become an important issue for state and local governments concerned with protecting beachfront tourism and real estate. Coastal protection through beach nourishment is often viewed as an improved response to erosion than trapping sand through the use of sea walls and jetties, or relocating buildings and other assets away from the shoreline. Generally, coastal protection projects take place during the fall and winter months to minimize interference with bird and marine life migration and breeding patterns and coastal recreation activities.
Maintenance dredging consists of the re-dredging of previously deepened waterways and harbors to remove silt, sand and other accumulated sediments. Due to natural sedimentation, most channels generally require maintenance dredging every 1 to 3 years, thus creating a recurring source of dredging work that is typically non-deferrable if optimal navigability is to be maintained. In addition, weather such as hurricanes, flooding and droughts can also cause the accumulation of sediments and drive the need for maintenance dredging.
Domestic rivers and lakes dredging and related operations typically consist of lake and river dredging, inland levee and construction dredging, environmental restoration and habitat improvement and other marine construction projects. The Mississippi River has source of projects on which the Company bids, certain dredges used on these projects are more portable and able to be transported. Inland river and lake projects in the northern United States take place in non-winter months because frozen waterways reduce the Company's ability to operate and transport its equipment in the relevant geographies.
Environmental & Remediation Operations
The Environmental & Remediation segment offers services, including environmental and geotechnical construction, such as slurry wall construction, in-situ stabilization, dam and levee rehabilitation, and deep soil mixing. In addition, the segment provides remediation services, which involve the containment, immobilization or removal of contamination from an environment through the use of combination of isolation, treatment or exhumation techniques, including off-site disposal based on the quantity and severity of the contamination.
2122 York Rd
The company trades on NASDAQ exchange. The company headquarter is located in Illinois, IL. The company was established in the 1890.| Ticker | GLDD |
| Long Name | Great Lakes Dredge and Dock Corporation |
| Short Name | Great Lakes Dredge and Dock |