Zolmax News reports that research analysts at Imperial Capital have assumed coverage of shares of Great Lakes Dredge & Dock (GLDD) in a report released earlier this week.
“ As the leading provider of dredging services in the US, we believe Great Lakes Dredge & Dock is well positioned to benefit from favourable fundamentals in the dredging space ,” the analyst said.
“ We expect increased spending in the US dredging market over the next few years, driven by a catch-up in maintenance dredging after years of continual under investment and the need to deepen ports to accommodate Post-Panamax ships once the Panama Canal expansion is compete .
“ If passed, current legislation in Congress related to fully designating the Harbor Maintenance Trust dredging bid market by as much as 50 per cent .”
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Dredging Today Staff, May 16, 2012;