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Ocean Update US East and Gulf Coast operational recovery post ILA work stoppage On Thursday, October 3rd, the International Longshoremen’s Association (ILA) and the United States Maritime Alliance, Ltd. (USMX) reached a tentative agreement on wages and to extend the Master Contract until January 15, 2025, to return to the bargaining table to negotiate all… Read More
AWO Welcomes Four New Members. Please join AWO in welcoming four new members: HF Sinclair – HF Sinclair Corporation provides traditional and renewable fuels and lubricants — plus other essential products such as asphalt, roofing tar and components for medicines and cosmetics. Industrial Maritime Academy – Industrial Maritime Academy Virtual Training Platform provides an immersive training experience featuring… Read More
The National Ocean Industries Association (NOIA) has awarded SEACOR Marine the third annual ESG Excellence Award, recognizing the company’s significant contributions to environmental, social, and governance (ESG) performance in the offshore energy industry. NOIA President Erik Milito praised SEACOR Marine’s commitment to ESG, stating, “SEACOR Marine exemplifies the NOIA ESG Principles in virtually every aspect… Read More
On October 10, 2024, the Virginia Maritime Association (VMA) hosted its 104th Annual Maritime Banquet, bringing together over 800 industry executives and dignitaries at the Hilton Norfolk | The Main. At this annual tradition, VMA celebrated the ongoing progress of Virginia’s ports and supply chain industries, while honoring exceptional individuals with the 2024 “Distinguished Service… Read More
The simplest way to invest in stocks is to buy exchange traded funds. But you can significantly boost your returns by picking above-average stocks. For example, the Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) share price is up 47% in the last 1 year, clearly besting the market return of around 30% (not including dividends). So that… Read More
LAFAYETTE, LA / RIGID, a leading provider of heavy civil and marine construction services, is excited to announce two key additions to its leadership team. Dallas C. Griffin, CFA, has been appointed Chief Financial Officer (CFO) and Bart Cook has been named President of Civil Construction. These appointments are part of RIGID’s ongoing commitment to… Read More
Download this Press ReleasePDF Format (opens in new window) Transaction Follows Comprehensive Marketing Process, Culminating in Winning Offer From a Consortium Led by Mason Capital Management HOUSTON — McDermott International, Ltd (McDermott) today announced it has entered into an agreement to sell its CB&I storage business (CB&I) to a consortium of financial investors led by Mason Capital… Read More
The Port of Brownsville’s Brazos Island Harbor Channel Improvement (“BIH”) project made progress in September, securing a low interest $43 million loan from the Texas Department of Transportation — a critical funding boost that brings the historic channel-deepening project closer to reality. At the Texas Transportation Commission’s regular meeting, held Thursday, Sept. 26, the commission approved a… Read More
BOSTON & HARTFORD, Conn.–Eversource Energy (NYSE: ES) today announced that it has completed the sale of its 50 percent interest in the 132-megawatt South Fork Wind project (South Fork Wind) and the 704-megawatt Revolution Wind project (Revolution Wind) to Global Infrastructure Partners (GIP). Adjusted gross proceeds from the transaction were $745 million. Adjusted gross proceeds… Read More
After their August recess, Congress returned to Washington with a looming government shutdown at the end of September. After a false start and posturing by a number of members of Congress and outside influences, The House passed a relatively “clean” continuing resolution on September 25. The continuing resolution was then taken up and passed by the… Read More
The UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services for the international shipping community, has announced the appointment of Kyle Lochridge as Senior Vice President (SVP) for the Americas. Lochridge will report to Leanne O’Loughlin, Regional Director, Americas, and William Beveridge, Chief Underwriting Officer. In his new role, Lochridge… Read More
At the National Stone, Sand & Gravel Association’s (NSSGA) annual Legislative & Policy Forum, the association named the winners of its Safety Excellence Awards, the Louis Griesemer Sterling Safety Awards and the James M. Christie Safety & Health Professional of the Year Award. “Safety is a cornerstone of our industry,” says Michael Johnson, NSSGA president and CEO…. Read More
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ: GLDD), the largest provider of dredging services in the United States, announced today the receipt of several dredging awards totaling $342.3 million. The awarded work includes: Sabine-Neches Waterway Channel Improvement, Contract 6 Project (Capital, Texas, $219.1 million) Canaveral Harbor Sand Bypass Project 5 (Coastal Protection, Florida,… Read More
ILA President Harold J. Daggett Joins Picket Lines Throughout Port Newark/Elizabeth, New Jersey AT Start of Strike And Rallies Tens of Thousands of ILA Members To Stay Strong and United; Union Demanding $5 Per Hour Increase in Wages For Each Year of Six-Year Agreement, Plus No Automation or Semi-Automation and Union Retaining All Container Royalty… Read More
Last week, the Amsterdam District Court handed down judgment in whistleblower Jonathan Taylor’s case against SBM Offshore. This is the culmination of a decade of trials and fines for the Monaco-based floating production company, after its former in-house lawyer Mr Taylor blew the whistle to the authorities in the United States on US$240 million of… Read More