StockNews.AI
GLDD
StockNews.AI
3 days

Great Lakes Announces the Delivery of its Newest Hopper Dredge, the Amelia Island

1. GLDD added the Amelia Island, enhancing its modern dredging fleet. 2. The vessel supports operations in U.S. coastal areas. 3. Amelia Island is EPA Tier IV rated, emphasizing environmental compliance. 4. The fleet is fully booked for 2025 and 2026 projects. 5. Commitment to safety and experienced workforce remains a priority.

6m saved
Insight
Article

FAQ

Why Bullish?

The addition of the Amelia Island enhances GLDD's competitive position and capacity. Historical context shows fleet expansion supports increased revenues in dredging services.

How important is it?

Fleet expansion signifies growth potential and operational capability, impacting investor confidence.

Why Long Term?

The full schedule for 2025 and 2026 indicates sustained revenue growth. Long-term contracts with government agencies enhance stability.

Related Companies

N/A
HOUSTON, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes" or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, today announced it took delivery of its newest Jones Act-compliant hopper dredge, the Amelia Island from the Conrad Shipyard in Morgan City, Louisiana. The Amelia Island supports the Company’s vision of continued modernization and diversification of our fleet. The Amelia Island is specially designed for efficient and safe operations along shallow and narrow waters throughout all U.S. coastlines. The vessel is approximately 346 feet in length, 69 feet in breadth, 23 feet in depth with 16,500 total horsepower installed. The dredge features two 800mm trailing suction pipes capable of dredging depths up to 100 feet with a hopper capacity of 6,330 yd³. The main engines and generators are EPA Tier IV rated for low emissions. These vital capabilities of the Amelia Island position it at the forefront of modern dredges, allowing it to execute projects along all U.S. coasts, ports, channels, and coastal developments. Lasse Petterson, President and Chief Executive Officer, commented, “The delivery of our sixth hopper dredge, the Amelia Island marks a significant milestone as our dredging newbuild program is now complete, leaving us with the largest and most advanced hopper fleet in the United States. Engineered with a high level of automation, this vessel is well suited for diverse operations such as beach renourishment, coastal protection, channel deepening, and maintenance dredging. Already with a full schedule for 2025 and 2026, the dredge will be going immediately to work.” The Amelia Island joins her sister ship, the Galveston Island, another modern dredge built to enhance vital maritime infrastructure nationwide and reaffirms our commitment with the U.S. Army Corps of Engineers and our dedication to the U.S. dredging industry. The Company Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States, which is complemented with a long history of performing significant international projects. In addition, Great Lakes is fully engaged in expanding its core business into the offshore energy industry. The Company employs experienced civil, ocean, and mechanical engineering staff in its estimating, production, and project management functions. In its over 135-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, is 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. Cautionary Note Regarding Forward-Looking Statements Certain statements in this press release may constitute "forward-looking" statements as defined in Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission (the "SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical facts are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events. Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law. For further information contact: Eric BirgeVice President of Investor Relations313-220-3053 A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0fb1d957-21f3-4803-b3ec-73311292cd48

Related News