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First quarter net income from continuing operations of $34.0 million First quarter adjusted EBITDA from continuing operations of $61.4 million Cash position of $207.5 million at March 31, 2020 OAK BROOK, Ill., May 05, 2020 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (Nasdaq:GLDD), the largest provider of dredging services in the United States, today reported… Read More
In letters to the Chairmen and Ranking Members of the House Committee on Transportation and Infrastructure and the Senate Committee on Commerce, Science, and Transportation, Commissioners Carl W. Bentzel and Louis E. Sola urged Congressional leaders to consider a means to help alleviate and bridge the financial gaps that could jeopardize continued healthy operation of… Read More
May 1, 2020 2:45 PM ET|About: Helmerich & Payne, Inc. (HP)|By: Carl Surran, SA News Editor Helmerich & Payne (HP -13.2%) says it has laid off 2,800 workers across the U.S. and decommissioned 37 rigs, the result of the record oil bust caused by the Saudi-Russian price war and the coronavirus pandemic. The company started… Read More
American Commercial Barge Line Holding Corp., as successor to American Commercial Lines Inc., today announced that it has successfully completed its recapitalization and emerged from Chapter 11. ACBL says it is moving forward as an inland barge transportation leader and continuing to provide customers with safe, reliable and competitive solutions. It says that with $200… Read More
Orion Group (ORN +17.5%) reported Q1 contract revenue growth of 16.4% Y/Y to $166.6M, reflecting increased project execution in the marine segment. Q1 Gross profit margin was 11.9%, as compared to 6.3% a year ago. Reported Q1 operating income of $4.4M, compared to operating loss of $6.2M last year. Adj. EBITDA was $12.22M (+294.5% Y/Y)… Read More
OAK BROOK, Ill., April 30, 2020 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (NASDAQ:GLDD), the largest provider of dredging services in the United States, is scheduled to hold its Annual Meeting of Stockholders on Wednesday, May 6, 2020 at the Le Méridien Hotel Chicago – Oak Brook Center,… Read More
A U.S. District Court judge this week issued an order that pumping and processing leader Hagler Systems, Inc. (HSI) will maintain control of all of its intellectual property and proprietary documents in a dispute with a former owner. Hagler Systems, an engineering company serving clients throughout the United States and Canada, successfully moved for a… Read More
– A Heads of Agreement has been reached with a leading maritime industry consortium and the existing syndicate of banks of Royal IHC for the acquisition and refinancing of IHC Merwede Holding B.V. – The consortium includes industrial partners from the dredging and offshore sectors, namely HAL Investments, Ackermans & van Haaren, MerweOord and Huisman…. Read More
Head of U.S. environment business steps into top regional role HIGHLANDS RANCH, Colo., April 28, 2020 (GLOBE NEWSWIRE) — Arcadis has named Alex Rothchild CEO for its North American business. He succeeds Joachim Ebert, who passed away unexpectedly following a courageous battle with pancreatic cancer earlier this month. Rothchild has more than 30 years of… Read More
HOUSTON–(BUSINESS WIRE)–Apr. 29, 2020– Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today reported net income of $2.7 million ($0.09 diluted earnings per share) for the first quarter ended March 31, 2020. First quarter highlights are discussed below. First Quarter 2020 Highlights Contract revenues were $166.6 million, up 16.4% from… Read More
Coastal Virginia Offshore Wind (CVOW) project remains on track for installation and operations – Monopiles and turbine loadout in Germany and Denmark completed and en route to project – Project will enter service later this year and produce enough power for 3,000 homes Dominion Energy and Ørsted announced today the turbine components and monopiles for… Read More
The Liberian Registry is continuing its efforts to gain recognition of seafarers as “key workers” and for much needed crew-exchange to be allowed at major ports globally during the COVID-19 pandemic. The registry is already working with industry bodies such as the IMO, ICS, and ITF. Now it is calling for other major flag states… Read More
US LNG export project developer, Tellurian has secured a $50 million financing in a push to build cash reserves. Driftwood LNG project developer noted that the financing has been secured through a deal to sell $56 million notes for gross proceeds of $50 million and provide the lender with warrants to purchase up to 20… Read More
Houston-headquartered offshore drilling contractor Diamond Offshore Drilling, Inc. (NYSE: DO) reports that it and select subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Diamond Offshore has a total fleet of 15 offshore drilling rigs, consisting of 11… Read More
Offshore drilling contractor Diamond Offshore has filed a complaint against Australia’s Beach Energy claiming that the oil company’s termination of a drilling contract for the Ocean Onyx rig is invalid. Beach has denied the claim. To remind, Beach Energy on 20 April terminated a contract with Diamond Offshore for the Ocean Onyx drilling rig, citing… Read More