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ten companies are based in Europe, Asia and the UAE. When GLDD reported annual earnings in February for the year ended in December, CEO Jonathan Berger said: ?Our continuing business, led by our dredging division, de- livered a strong year, generating $98.9 million in adjusted earnings before interest, taxes, depreciation and amortiza- tion from continuing operations. Record coastal protection work and an increase in foreign capital work, along with a strong rst year from our Terra Contracting business, helped make 2013 our second best year ever for earnings.? Terra, acquired by GLDD in early 2013, remediates and removes contaminated sediment and cleans up Superfund sites. Berger said GLDD won $692 million, or 54 percent, of the domestic dredging bid market in 2013. Coastal pro- tection work accounted for $245 million of those awards. Much of that work was funded by the Hurricane Sandy appropriations bill. ?Our win rate was also driven by the award of the rst two phases of the PortMiami project for $174.1 million,? he said. ?A remaining option of $31.6 million was awarded on Jan. 31, 2014, bringing the con- tract?s total value to $205.7 million.? GLDD in late 2013 was awarded an $89 million con- tract by Decatur, Ill. to dredge Lake Decatur from late 2014 through 2019. ?During 2014, we will be working throughout the year on the PortMiami deepening project,? Berger said. And the company will continue post-Sandy coastal protection work this year. WRRDA Likely To Be Passed By Congress Soon According to Holliday of Dredging Contractors of America, Jonathan Berger and others, a new Water Re- sources Reform and Development Act (WRRDA) will be passed by Congress by this summer. Senate and House ver- sions of the bill were being reconciled in May and it is possible that the bill could come out of Committee as this edition of MarineNews goes to press. The act fosters river and harbor improvements and addresses structural, navi- gational and environmental aspects of water ? including ood protection and hydrology. USACE has administered most of the requirements of the nation?s past ten WRDAs, dating back to 1974. The last WRDA bill was passed in 2007, and before that, WRDA 2000 consolidated the country?s port-deepening projects. At mid-year 2014 and discounting the promise of a new and improved WRRDA bill, domestic dredging requirements remain high and not fully satis ed, spend dollars are up and production ? in comparison with historical cubic yards moved in the past ? is down. The good news is that domestic dredgers should remain busy. How those projects will be funded is another question altogether. And, that will make all the difference. DREDGING & INFRASTRUCTUREDredging at the Port of Baltimore is conducted by the Maryland Port Administration and the U.S. Army Corps of Engineers. Courtesy Maryland Sea Grant. www.marinelink.com MN 41MN June14 Layout 32-49.indd 41MN June14 Layout 32-49.indd 415/20/2014 10:23:13 AM5/20/2014 10:23:13 AM
