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SUPERIOR, WI – Fraser Industries, a historic maritime company with subsidiaries Fraser Shipyards, Lake Assault Boats, and Northern Engineering, located in Superior, Wisconsin, and Portsmouth, Virginia, has successfully closed a bond financing deal that will pave the way for a sustainable and robust maritime workforce for future generations. Founded in 1890, the company has been… Read More
HOUSTON, April 24, 2024 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced that it has entered into a $150,000,000 5-year, senior secured second-lien credit agreement (“Second Lien Credit Agreement”) with Guggenheim Credit Funding, LLC, on behalf of one… Read More
HOUSTON, April 24, 2024 (GLOBE NEWSWIRE) — Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today reported its financial results for the first quarter ended March 31, 2024. Highlights for the quarter ended March 31, 2024: Contract revenues of $160.7 million GAAP net loss was $6.1 million or $0.19 per diluted share Adjusted net loss was $4.0 million or $0.12 per diluted share Adjusted EBITDA… Read More
The U.S. logistics industry has been battling with financial distress this year with companies filing for Chapter 7 bankruptcy to liquidate, Chapter 11 reorganization, downsizing operations or just shutting down operations. In some cases, lawsuits can force companies to file bankruptcy to impose an automatic stay against any legal actions while the bankruptcy commences. J.J…. Read More
Proficient Auto Logistics is hoping to raise $100m through an initial public offering (IPO) to acquire five other automotive logistics firms, which would expand its fleet to around 1,130 trailers. The Delaware-based FVL trucking firm is seeking to combine with Delta Automotive Services, Deluxe Auto Carriers, Sierra Mountain Group, Proficient Auto Transport and Tribeca Automotive,… Read More
On April 19th, 2024, Muddy Water Dredging, LP, held the christening ceremony of their groundbreaking Marlin Class dredge at the Port of New Orleans. The event was attended by many esteemed business leaders, media personnel, and distinguished dignitaries. “We are happy to unveil the Vaneta Marie dredge. After many hours of collaboration between Muddy Water and… Read More
Our office in Singapore is right at the junction of global trade. Every year, about 140,000 vessels call the port heading from Asia to all parts of the world. And of course, we have Tanjung Pelepas located right across the border in Malaysia. I cannot help but think that the upcoming years will be some… Read More
Brunswick Corporation (NYSE: BC) today named Jerry Newton president of its Venture Boat Group division effective immediately. Newton will be responsible for the overall business performance, strategic growth and operational execution of the Venture Boat Group portfolio including brands Bayliner, Heyday, Quicksilver, and Uttern in North America, Europe, and Australia. Newton brings nearly 30 years of… Read More
Richmond, VT and Pottstown, PA – April 18, 2024 – Greensea IQ, a pioneer in marine technology development, and VideoRay, a global leader in underwater robotics, have announced the extension of their strategic partnership. The renewed five-year, multi-million dollar agreement underscores both companies’ dedication to improving the performance and dependability of their products, as well as… Read More
As part of our commitment to provide you with the most up-to-date and relevant information on the logistics industry, we share our Market Update on the Latin American market. You will find information and interesting data on the update of the state of the ports, the most important transport routes and relevant news. We hope… Read More
AWO Welcomes Three New Members. Please join AWO in giving a warm welcome to our newest members: First Citizens Bank provides maritime financial services, including vessel loans and charters. Palmer Johnson Power Systems offers applications and service support to the marine industry and has ten sales and service branches across North America. WireCo Synthetics supplies steel ropes and synthetic… Read More
The Marine Corps is seeking the authority to promote some officers to the rank of lieutenant colonel and colonel temporarily, in a bid to fill jobs with a shortage of leaders. These officers would receive the pay and wear the rank insignia commensurate with the higher grades while they occupy particular billets, according to a March 29… Read More
U.S. defense tech company Anduril Industries and South Korean shipbuilder HD Hyundai Heavy Industries said they’re teaming up to reimagine and expand American and allied seapower. The collaboration could take many forms, including pairing current Anduril software capabilities with Hyundai’s manned and unmanned platforms, according Anduril Chief Strategy Officer Christian Brose, who told Defense News… Read More
Anglo-Eastern Univan Group and Euronav announced the Heads of Agreement for the sale of Euronav ship management arm Euronav Ship Management Hellas (“ESMH”), Euronav’s ship management arm. The HoA is subject to further documentation and final board of directors’ approval. Anglo-Eastern will take ownership of the ship management responsibilities of vessels under ESMH management an on ‘as-is’… Read More
BATON ROUGE, LA — The Louisiana Coastal Protection and Restoration Authority (CPRA) today announced recipients of its annual Coastal Science Assistantship Program (CSAP). CSAP enables faculty members of Louisiana institutions to fund Master of Science students enrolled full-time at Louisiana colleges and universities who are involved in research relevant to Louisiana coastal protection and restoration efforts. The… Read More