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GLDD hits home run

Great Lakes Dredge & Dock of the US has secured a $24.2m contract to perform maintenance dredging in the Port of Baltimore.

Nasdaq-quoted GLDD says the work will be carried out by two clamshell dredges, which are scheduled to start the project this month in a deal due for completion by year-end.

The contract was awarded by the Army Corp of Engineers’ Baltimore District and reflects the waterway’s importance to the local economy, according to a statement.

GLDD, which claims to be the largest dredging contractor in the US, is headquartered in Oak Brook, Illinois where it oversees a fleet of over 200 specialised vessels.

Offshore

Aaron Kelley in Stamford

 18 September 2012, 14:34 GMT