The retirement of the Terrapin Island will result in a non-cash write-off of approximately $8 million in the fourth quarter of 2022. Work planned for the Terrapin Island will be delayed until another hopper dredge completes its regulatory drydock at the end of December. This vessel was planned for retirement upon the Galveston Island delivery, but based on her age the Company has decided to accelerate her retirement to significantly reduce its operating, labor and maintenance costs and improve productivity for the overall fleet. During the fourth quarter of 2022, the Company will retire the hopper dredge Terrapin Island, which has a 42-year working history. The upcoming delivery of the Galveston Island enables the Company to continue the rationalization of its older assets. The Tier 4-compliant engines significantly reduce the vessel’s climate footprint, while other incorporated features minimize turbidity and marine species entrainment. EPA Tier IV compliant engines, and have capabilities of running on biofuel to minimize the environmental impact. The dredge will be equipped with a direct high-power pump-ashore installation, dredging system automation, dynamic positioning and tracking, U.S. This new dredge is a 6,500-cubic-yard-capacity Trailing Suction Hopper Dredge which will support the modernization of Great Lakes’ dredging fleet. The Galveston Island, the first of two newbuild hopper dredges, is in the water and is scheduled to be in operation the first half of 2023 as planned. 05, 2022 (GLOBE NEWSWIRE) - Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, provided today an update on their fleet renewal program.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |