Page 13: of Marine News Magazine (May 2022)

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Q&A federal ? eet. All of these important issues are essential to our members as we have billions of dollars invested in our

U.S.-built, U.S.-owned, and U.S.-crewed equipment.

The U.S. dredging industry is undergoing what has been described as a “building boom”, with many contractors adding new equipment to meet strong demand. From your point of view, what are the key drivers leading to this de- mand, and do you foresee these—and there- fore the building boom—to continue?

RB: Yes. We have invested more than $2 billion since 2018 in new equipment, some of it already in use and some coming on line between now and 2024. The driv- ers are very simple: The Corps has signaled to our indus- try for years that we need to offer robust capacity. That, coupled with healthy budgets for the Corps, the IIJA, the release of the HMTF and some disaster relief funding, means strong demand that our industry will always step up to meet.

What are your key takeaways from the U.S.

Army Corps of Engineers’ work plan an-

Dredging Contractors of America nounced earlier this year?

RB: We have been working directly with the Corps with

Please give your assessment of today’s market the 3 C’s: communicate, coordinate and cooperate on conditions for U.S. dredging contractors, touch- projects and workload. We want to work close together ing upon ? eet numbers, supply and demand.

RB: Our marketplace continues to look stable and so that we can complete the projects in the most ef? cient growing with all the new in? ux of federal funding, and cost-effective manner, which is good for taxpayers, for which includes the recently released Harbor Mainte- the maritime industry and the broader U.S. economy. We nance Trust Fund (HMTF), the Infrastructure Invest- know that Corps will have their hands full trying to man- ment and Jobs Act (IIJA), disaster relief support, and age and contract all the additional funding. Right now, we healthy Corps budgets. It will take the Corps time to see only a slight spike in workload and one that we have no process this funding, select projects and get contracts problem completing.

out the door. But, as you know, our industry has made

Dredging projects certainly received a good jolt signi? cant new investments and stands ready to get to of funding from the recent historic Infrastruc- work with abundant capacity.

ture Bill, but is it enough when you look at the

What are the most important issues that dredg- nation’s overall needs?

RB: We are thankful to the Congress and the Administra- ing contractors face today?

RB: We have several. We’re always concerned with protect- tion for the additional funding we see the Corps receiving. ing the Jones Act and keeping stability in the U.S, mari- After years of underinvestment, we know the Corps has a time marketplace. We pay close attention to Congressio- backlog of unfunded projects to the tune of $40 Billion, nal funding levels to the Corps. We always keep a close as was pointed out by Chairman DeFazio in a recent Con- eye on the balance between the commercial ? eet and the gressional hearing, so more funding is needed.

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