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Morgan City, La., headquartered shipbuilder and repairer Conrad Industries, Inc. (OTC Pink: CNRD) has reported its second quarter and six months 2020 financial results and backlog. For the quarter ended June 30, 2020, Conrad had net income of $482,000 and earnings per diluted share of $0.10 compared to net loss of $2.2 million and loss… Read More
Today, the Connecticut Port Authority (CPA) approved the appointment of John Henshaw as its new executive director, effective September 8th, 2020. In his role, Henshaw will be responsible for fostering the economic development of Connecticut’s maritime economy and overseeing the development and growth of Connecticut’s small harbors and three deepwater ports. Henshaw comes to the… Read More
A dock in Benton Harbor has a new owner, with new plans to increase the use of it. On Wednesday Rieth-Riley Construction Co. announced they bought a spot in Benton Harbor that they’ll use as a key part of transporting their materials. Having the option to do this by water is much cheaper than over… Read More
August 14 (Renewables Now) – Apollo Global Management Inc (NYSE:APO) has acquired an equity stake in US Wind Inc, the developer of a 270-MW wind project off the coast of Maryland. The alternative investment manager said in a statement today that certain funds managed by its affiliates have committed to invest through convertible debt and… Read More
Alternative investment manager Apollo has made a structured investment in the US-based offshore wind developer – US Wind Inc. Certain funds managed by Apollo Global Management’s affiliates have committed to invest, through convertible debt and equity, up to $ 265 million to acquire an equity stake in US Wind and fund development and construction costs… Read More
Canadian shipping company Canada Steamship Lines, a division of the CSL Group, has sold the 35,656 dwt self-unloader MV Salarium for demolition in Turkey. According to the company, the decommissioning of the bulk carrier comes after “a long and productive 41-year career with the Canada Steamship Lines fleet”. As explained, the long-serving vessel reached the… Read More
IHC Americas is headquartered in Houston, TX and is a subsidiary of Royal IHC, The Netherlands DredgeWire: Adriano, could you provide us with a brief summary of IHC Americas and yourself? Adriano/IHCA: IHC Americas is the combination between a US based subsidiary of Royal IHC, Netherlands and many business and partnerships in the Latin America… Read More
Col. Michael D. Helton recently took over as commander of the U.S. Army Corps of Engineers’ Portland District. He oversees approximately 1,500 federal employees responsible for serving residents in most of Oregon and southwestern Washington. The district operates locks and dams along the Columbia River, operates dams in the Willamette Valley for flood risk management,… Read More
DSC Dredge, LLC, one of the industry’s leading global suppliers of customized dredging equipment, has joined forces with Teledyne Marine and Trimble to create DSC VISION – a highly innovative, easy to operate 3D guidance and visualization system that allows operators to stop dredging in the dark. This revolutionary combination of DSC Dredge and Teledynesoftware,… Read More
Philly Shipyard, Inc., the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), has announced the unexpected death of Chief Financial Officer, Brian Leathers, age 60. Leathers joined Philly Shipyard in early 2019 as the company’s Strategy and Compliance Officer before assuming the CFO role in July 2019. Steinar Nerbovik, Philly Shipyard President and CEO,… Read More
The no sail orders imposed in response to the coronavirus pandemic continue to put the cruise industry under huge financial pressure. Royal Caribbean Group (NYSE: RCL) today reported a U.S. GAAP net loss for the second quarter of $1.6 billion compared to income of $472.8 million in the 2019 second quarter, The 2020 results include… Read More
Eagle LNG Partners (Eagle LNG) and Crowley Maritime on Friday celebrated the 100th bunkering of a Crowley LNG fueled ConRo at Eagle’s Port of Jaxonville, Fla., Talleyrand LNG Bunker Station. Eagle LNG says it has delivered on its weekly LNG bunkering commitment to Crowley regardless of COVID-19 constraints or shipping challenges. “Since March, our operations… Read More
Morgan City, La., headquartered Conrad Shipyard, LLC reports that Robert A. Socha has joined the company as Vice President of Sales and Marketing. In this role, Socha will lead the company’s sales and marketing efforts. He will work collaboratively with other Conrad business groups, including Business Development, Engineering and Product Development, Contracts, Estimating and Operations…. Read More
Here is DredgeWire’s exclusive coverage of the highlights from the second quarter earnings call with Great Lakes Dredge & Dock on Tuesday, August 4. CEO Lasse Petterson (LP) and CFO Mark Marinko (MM) conducted the call and fielded questions. Here is link to the DW story on earnings report itself. New dredge Investment GLDD confirmed… Read More
Houston-based LNG exporter Cheniere Energy reported a jump in profit for the second quarter and the first six months of 2020. Cheniere reported a net income of $197 million for the quarter, which compared to $114 million loss in the corresponding period in 2019. For the first half of the year, Cheniere reported a net… Read More