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Another home has crumbled into the sea in Rodanthe, N.C., the scenic Outer Banks community where rising seas and relentless erosion have claimed a growing number of houses and forced some property owners to take drastic measures to retreat from the oceanfront. The National Park Service, which manages the Cape Hatteras National Seashore, said an unoccupied home at 24131… Read More
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today announced that it is set to join the broad-market Russell 3000® Index at the conclusion of the 2024 Russell indexes annual reconstitution, effective after the US market opens on July 1, 2024, according to a preliminary list of additions posted May 24, 2024. Annual… Read More
Covia, a top provider of mineral-based and material solutions for various industrial markets, announced today the completion of its previously disclosed acquisition of R.W. Sidley’s Industrial Minerals Division, which supplies high-quality, silica-based products for filtration, industrial, and sports applications. The acquisition of Sidley’s silica sand mining operation in Thompson, Ohio, encompasses the quarry and reserves,… Read More
House Clears Coast Guard Authorization Bill. On May 14, the House of Representatives approved H.R. 7659, the Coast Guard Authorization Act of 2024, by a vote of 376-16. No amendments were offered or considered during floor debate. The House-passed bill includes language directing the Coast Guard to certificate ATBs with automated engine room systems, sponsored… Read More
Blowout quarterly results released by Great Lakes Dredge & Dock (GLDD) on May 7 have its shares up over 30% since. Q1 contract revenues climbed 25.7% year-over-year to $198.7 million, $28.3 million above the consensus view, boosted by increased coastal protection and capital project activity. The company also benefited from having its vessels spend less… Read More
Based on current forecasts, Arc Surveying & Mapping, Inc. of Jacksonville, Florida anticipates an increase of emergency hydrographic and topographic surveys during the 2024 Hurricane Season. 75% of our clients throughout the Southeastern US and Caribbean, maintain nearshore and offshore structures and are responsible for safe navigation in debris free channels and ports. Arc’s dredging… Read More
The Port of New Orleans‘ board (NOLA) yesterday confirmed that Ronald Wendel Jr. will become acting president and CEO of the port and New Orleans Public Belt Railroad in June following the departure of current President and CEO Brandy Christian. Wendel is now the port’s executive vice president and chief financial officer. Christian announced last week that she… Read More
The members of the American Waterways Operators, the national tugboat, towboat and barge industry association, elected a new slate of leaders last week during the association’s Spring Convention and Annual Membership Meeting. Kelly Teichman, Executive Chairman, T&T Marine, was elected Chairman; Patrick Sutton, Chief Operating Officer, American Commercial Barge Line, was elected Vice Chair; and Brian Hughes, Vice President Operations & Sales,… Read More
ADNOC has announced the acquisition of a 11.7% stake in Phase 1 (Trains 1-3) of NextDecade’s Rio Grande LNG (RGLNG) project located in Texas, US, which is expected to produce a less carbon-intensive LNG. Additionally, ADNOC and NextDecade announced that they have entered into a 20-year LNG offtake agreement from RGLNG Train 4. The Phase… Read More
Arcadis, a leading global design and consultancy organization for natural and built assets, today announced that it was selected in partnership with project lead Flatiron to design a groundbreaking flood protection program for the City of Virginia Beach Department of Public Works. The Windsor Woods, Princess Anne Plaza, and The Lakes Drainage Improvements Project aims… Read More
Covia, a leading provider of mineral-based and material solutions for a range of Industrial markets, today announced that it has completed the previously announced acquisition of R.W. Sidley’s Industrial Minerals Division, which provides high-quality, silica-based products for use in filtration, industrial, and sports applications. The acquisition of Sidley’s silica sand mining operation in Thompson, Ohio,… Read More
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today announced that CEO Travis Boone and CFO Scott Thanisch will participate in the following upcoming conferences: B. Riley Securities 24th Annual Institutional Investor Conference—May 22, 2024, Los Angeles, CA Craig-Hallum 21st Annual Institutional Investor Conference—May 29, 2024, Minneapolis, MN Stifel 2024 Cross Sector Insight Conference—June 5, 2024, Boston, MA About Orion Group… Read More
Ocean and Key Ports Update Situation in Baltimore For the most recent updates on the Dali, including available channels and bookings in Baltimore, please visit our advisory page for all updates on this situation. Situation in the Red Sea/Gulf of Aden At Maersk, we continue our assessment of the Red Sea/ Gulf of Aden situation and still… Read More
Austal USA is pleased to introduce Mark Santamaria as the company’s chief financial officer (CFO). Santamaria brings three decades of experience in financial expertise and executive leadership to the Austal USA leadership team. “Mark’s extensive background in government and commercial contracting environments is a valuable asset to Austal USA,” stated Austal USA President Michelle Kruger…. Read More
In a series of board and membership meetings last week in Savannah, Georgia the Dredging Contractors of America (DCA) unanimously voted to accept James Cottrell as the President of the DCA Board of Directors and Harry Stewart as its Senior Vice President. James Cottrell is the President and CEO of Virgina based Cottrell Contacting Corporation. Harry… Read More