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With the largest workload it’s had in four decades, Newport News Shipbuilding has had to get creative about how to use the limited footprint at its shipyard in Newport News. So when an opportunity to set up a second campus not far away — on the other side of the Hampton Roads Bridge-Tunnel, in Norfolk — popped… Read More
Offshore wind power company Orsted is trying to get out of a $300 million guarantee it agreed to pay New Jersey in the event it failed to build its first wind farm off the state’s coast. Last Tuesday, the Danish firm scrapped its Ocean Wind I and II projects in southern New Jersey, saying the projects were… Read More
UPS (NYSE: UPS) today announced that it has completed the acquisition of MNX Global Logistics (MNX), a global time-critical logistics provider. The acquisition closed on Nov. 2, 2023, following all required regulatory approvals. The acquisition of MNX expands UPS’s capabilities of time-critical logistics, especially for healthcare customers in the US, Europe and Asia. MNX has… Read More
Third Quarter 2023 Highlights Revenue of $299.3 million, a 39.2% increase from the second quarter of 2023 Average day rate increased to $17,865 per day, $1,823 higher than the second quarter of 2023 Composite leading edge term contract day rate up 21.7% to $28,609 Net income of $26.2 million, an increase of $3.6 million from… Read More
Third quarter net loss of $6.2 million Third quarter adjusted EBITDA of $5.3 million Dredging backlog of $1.03 billion at September 30, 2023 HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) (Nasdaq: GLDD), the largest provider of dredging services in the United States, today reported… Read More
Philly Shipyard ASA (Oslo: PHLY) has announced a net loss of $17.2 million for the third quarter of 2023, bringing its 2023 losses to more than $49 million. The loss comes as Philly Shipyard successfully delivered the first National Security Multi-Mission Vessel (NSMV 1), named the Empire State, to the U.S. Department of Transportation’s Maritime Administration (MARAD) in… Read More
While continuing his responsibilities as the Head of the nation’s busiest port, Seroka will represent the North American region within the IAPH, a non-governmental organisation founded in Tokyo, Japan in 1955. The IAPH has evolved into a global alliance of ports over its six-decade history, now encompassing 177 ports and 147 port-related businesses across 84 countries. These… Read More
NEWPORT NEWS, Va., (Nov. 3, 2023) — HII’s (NYSE: HII) Newport News Shipbuilding division continues to make progress in the area of workforce development acceleration, and is meeting hiring demand for skilled trades positions through community outreach efforts and on-site hiring events. The shipyard recently participated in the What’s Next for Success Foundation career and… Read More
Capital Sand Company was incorporated in Jefferson City, Mo., on August 8, 1973. On August 9, 2023, the company celebrated its 50th anniversary with luncheons for employees at all of its plants and a ribbon cutting with the Jefferson City Chamber of Commerce. In the past 50 years, CSC went from a single location to… Read More
Sevenson Environmental Services Inc.,* Niagara Falls, New York, was awarded a $41,928,702 cost-plus-fixed-fee contract for environmental remediation of the Diamond Head Oil Superfund Site. Bids were solicited via the internet with two received. Work will be performed in Kearny, New Jersey, with an estimated completion date of Nov. 2, 2028. Environmental Protection Agency funds in… Read More
One of the world’s biggest shipping firms is to cut 3,500 more jobs due to lower freight rates and demand. AP Moller-Maersk already cut 6,500 roles earlier this year as part of “rigorous cost containment measures” but said more redundancies were needed. The firm, which transports goods for major retailers such as Nike, said profits… Read More
Today, the U.S. Department of Transportation’s Maritime Administration (MARAD) announced over $47 million to fund a port improvement project in Baltimore, Maryland under the Port Infrastructure Development Program (PIDP). As part of President Biden’s Investing in America agenda – a key pillar of Bidenomics – this funding will help grow capacity and increase efficiency at… Read More
On October 11th, Rear Admiral (RADM) Charles E. Fosse visited Birdon’s Bellingham, WA facility for a tour of the manufacturing area and a briefing by team leaders on the progress of the 47’ Motor Lifeboat (MLB) Service Life Extension Project (SLEP). RADM Fosse, who recently took command of the U.S. Coast Guard’s (USCG) 13th District, is… Read More
Following decisions of its Board of Directors, Ørsted will cease development of the Ocean Wind 1 and 2 projects and has taken final investment decision on the Revolution Wind project. The decisions are part of an ongoing review of Ørsted’s US offshore wind portfolio. Impairment update On 29 August 2023, Ørsted announced anticipated impairments on… Read More
GLDD is proud to announce the hiring of Dick Balzano as VP, Government Relations. Balzano will be based in Washington DC and will initially focus on offshore wind and maritime issues for the company. His hiring will be effective 1 November. Lasse Petterson CEO for GLDD said “Dick brings a lot of experience and credibility… Read More