Industry Analysis & Industry Trends
A weak economy has made growth for dredgers slower than expected. Nevertheless, increased government and private-sector funding is expected to boost revenue for the industry over the next five years. As ocean freight liners begin to use larger ships to transport cargo, US ports and harbors will need to be dredged to provide access for these increasingly larger vessels, which will help demand for the industry's services rise.... purchase to read more
Industry Report - Starting a New Business Chapter
The high start-up costs of dredging equipment and vessels are a significant barrier to entry. New entrants may also find it hard to compete with the reputations of more established players and with the long-term relationships these players have with key government agencies, including the US Army Corps of Engineers. New entrants may initially find it easier to compete for smaller private-sector projects on rivers and lakes than for the more complex capital dredging projects that are awarded through competitive bidding. To be successful, a bidder must be determined by the Corps to be a responsible bidder (i.e. a bidder that has the necessary equipment and experience to successfully complete the project and the ability to obtain a surety bid bond)... purchase to read more