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I want to agree and associate myself with the statement made by Chairman Maffei in the aftermath of his visit to the Port Authority of New York/New Jersey, and his concerns on the mounting challenge of returning empty containers to the marine terminals servicing the port. In my view, the congestion emanates from the lack… Read More
HOUSTON–(BUSINESS WIRE)–Tidewater Inc. (NYSE:TDW) announced today revenue for the three and six months ended June 30, 2022 of $163.4 million and $269.2 million, respectively, compared with $90.0 million and $173.5 million, respectively, for the three and six months ended June 30, 2021. Tidewater’s net losses for the three and six months ended June 30, 2022,… Read More
MONTAGU, a private equity firm, has announced a deal to acquire Lloyd’s List Intelligence from parent company Informa. Lloyd’s List Intelligence is a leading provider of maritime data, insight and intelligence, widely used across the shipping ecosystem, extending to the finance, legal, academic, insurance, and government sectors. Its market-leading products provide reliable, high-quality data and actionable… Read More
We’ve today – Wednesday 3 August 2022 – announced the acquisition of Thynk Software’s maritime tech business. Thynk’s founder and CEO, Marlon Grech, and around 30 of his colleagues will join RightShip when the acquisition completes, which is expected to be 1 September 2022. Marlon will also become RightShip’s first Chief Technology Officer. We launched our… Read More
DredgeWire Exclusive Story and photo by Judith Powers During its annual membership meeting, the WEDA Environmental Commission took on a new initiative: how the dredging industry is contributing to sustainability, resilience, and adaptation in response to climate change. Chair Craig Vogt introduced the initiative and asked members for ideas in developing goals and moving the… Read More
GREAT FALLS, Va.–(BUSINESS WIRE)–Shaza Andersen, founder and Chief Executive Officer of Trustar Bank in Great Falls, VA, has been appointed to the Board of Commissioners of the Virginia Port Authority by Virginia Governor Glenn Youngkin. Ms. Andersen will serve a five-year term effective July 1, 2022 through June 30, 2027. A favored and sought-after authority on leadership, banking,… Read More
Great Lakes Dredge & Dock Co. (NASDAQ:GLDD – Get Rating) CEO Lasse Petterson bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was acquired at an average cost of $9.65 per share, with a total value of $96,500.00. Following the transaction, the chief executive officer now owns 1,003,630 shares of… Read More
Caterpillar Inc. (NYSE: CAT) announced second-quarter 2022 sales and revenues of $14.2 billion, an 11% increase compared with $12.9 billion in the second quarter of 2021. The increase was primarily due to favorable price realization and higher sales volume. Operating profit margin was 13.6% for the second quarter of 2022, compared with 13.9% for the… Read More
With nearly 20 years of naval architecture and marine engineering experience, Jors has served in previous leadership roles on complex projects, involving vessel design and development, construction, structural analysis, conversion and modification. Since joining Crowley in 2010, Jors has played an active role expanding the company’s engineering services capabilities for maritime partners and customers. Most… Read More
Intact Insurance Group USA, doing business under the brand Intact Insurance Specialty Solutions, has announced that it has completed the acquisition of Highland Insurance Solutions, the US construction division of Tokio Marine Highland, from Tokio Marine Kiln. “We are pleased to officially welcome RIck Girden, Kaileigh Bowe and the entire Highland team to Intact,” said T. Michael Miller,… Read More
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported financial results for the quarter ended June 30, 2022. Second Quarter 2022 Highlights Revenue was $149.4 million in the second quarter Total operating loss was $0.3 million in the second quarter… Read More
HOUSTON, July 28, 2022 (GLOBE NEWSWIRE) — Kirby Corporation (“Kirby”) (NYSE: KEX) today announced net earnings attributable to Kirby for the second quarter ended June 30, 2022 of $28.5 million or $0.47 per share, compared with earnings of $10.2 million, or $0.17 per share for the 2021 second quarter. Excluding one-time non-recurring items in the 2022 second quarter, net earnings attributable to Kirby were $29.8 million or $0.49 per share. Consolidated revenues… Read More
Industrial Service Solutions (ISS) announced that it has entered into a strategic alliance agreement with Zeeboat, LLC (“Zeeboat™”) to develop a pipeline of maritime decarbonization projects for design and implementation of fully electric and hybrid diesel-electric powered vessels and port electrification. ISS will serve as general contractor for the projects and provide the necessary design,… Read More
CEO projects new lower full year 2022 EBITDA guidance with margin enhancement initiatives underway Orion Group Holdings, Inc. (NYSE:ORN) Q2 2022 Results Conference Call July 28, 2022 10:00 AM ET Company Participants Francis Okoniewski – Vice President, Investor Relations Austin Shanfelter – Interim Chief Executive Officer Craig Owen – Chief Financial Officer Advisor Conference Call… Read More
At its Summit & Expo in Houston, Texas, the Western Dredging Association awarded Paul Fuglevand its 2022 Lifetime Achievement Award in recognition of his lifetime of outstanding work supporting the dredging community and the Western Dredging Association. After receiving both a B.S. and M.S. in Civil Engineering, Mr. Fuglevand joined Hart Crowser in Seattle, WA,… Read More