Did You Know?
Facts about Dredging and Waterborne Commerce
- Corps and contractor owned dredges removed 285 million cubic yards (mcy) of material from Corps-constructed and maintained channels in FY 2000 at a cost of $821.6 million. This was virtually unchanged from FY 1999 which had 284 mcy dredged at a cost of $815 million. In FY 2000, maintenance dredging accounted for almost 80% of the quantity and 66% of the cost. The average cost/cy for maintenance dredging was $2.39 while the average cost/cy for new work dredging was $4.79.
- Private industry costs were $733 million for 89% of the total dollars spent on Corps dredging in FY 2000. They dredged 84% (240 mcy) of the material.
- In FY 2000, 105 private dredging companies submitted a total of 475 bids for 159 contracts. Awards were made to 52 different companies, 19 large and 33 emerging and small businesses. Small businesses received 50% (80) of the contracts accounting for 17% of awarded contract dollars.
- Of the 159 contracts awarded in FY 2000, 53% (84) was performed by cutterhead pipeline dredges, 26% (42) by mechanical bucket type dredges and 13% (21) by hopper dredges. The remaining 8% (12) was performed by a combination of more than one type of dredge.
- The Districts that awarded the most contract dollars in FY 2000 were Wilmington ($97.3m) and Galveston ($89.4m) with Galveston and New Orleans dredging the most cubic yards, 39.7mcy and 28.4mcy respectively.
- The Inland Waterways Trust Fund* earned $133.6 million in FY 2001. This included $112.7 million paid by the barge and towing industry and $20.9 million interest. The Fund disbursed $110.2 million for construction projects. The Trust Fund balance of $411.2 million increased by 6% over FY 2000.
- The FY 2001 Harbor Maintenance Trust Fund* equity grew 9.1% from FY 2000 to $1.82 billion. Total receipts grew by 6.6% to $810.8 million. The taxes from domestic commerce of $39.4 million dropped 23.6% over the previous year. The taxes collected from imports grew 4.4% to $583.2 million. All transfers totaled $659.6 million (U.S. Army Corps of Engineers received $643.6 million, a decrease of 6.3% from FY 2000ís $686.9 million).
* Final-unaudited (29 October 2001) figures from Bureau of Public Debt.
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