Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced on May 16 that it had been awarded a $122 million contract to deepen Miami Harbor. The project is scheduled to begin in the fourth quarter of this year and will deepen Miami’s shipping channel to 50 feet. The Corps of Engineers awarded the base work for this project which includes deepening the offshore entrance channel. Option work involving the deepening of the inner channels to provide access to the port’s berthing areas is expected to be awarded by January 31 2014. These options if awarded will bring the value of the project to $206 million. Read More