Great Lakes Dredge and Dock Co., Oak Brook, Ill., is the low bidder for a $24-million stimulus-funded dredging contract to deepen the port of Mobile, Ala., by 45 ft. The move will allow large container ships at the nation’s tenth busiest port to avoid a costly eight-mile trip to turn around and ease channel congestion. The “turning basin” will be developed near the site of a new $300-million container terminal, the nation’s largest coal terminal, and a steel terminal, set to be completed in October by ThyssenKrupp. Other bidders for the contract, awarded by the Army Corps of Engineers, included
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.