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Singapore-listed Rickmers Maritime has announced it is to wind up, after failing to reach an agreement with lenders. It is therefore cancelling its annual meeting previously due to be held on 26 April. The cash-strapped trust had failed to secure USD260 million funding from its lenders, HSH Nordbank AG and DBS Bank. This was contingent… Read More
Ellicott Dredges is pleased to announce that, effective April 3, Mark Heimberger has been promoted to Manager of Field Service for both Ellicott Dredges and Ellicott Dredge Technologies (auger dredges and ROV’s.) Mark has been with Ellicott for 21 years and in 2007 was promoted to Senior Field Service Technician. He has an extensive background… Read More
Ellicott is pleased to announce the refurbishment of the Great Lakes Dredge & Dock (GLDD) 16” (400 mm) cutter dredge “Commodore”, a non-Ellicott dredge. After extensive flood damage, GLDD hired Ellicott to refurbish and modernize the Commodore, including hydraulics, electric controls, and the booster pump. One of the main improvements was a comprehensive upgrade to… Read More
Royal IHC has released its 2016 Annual Report showing a big loss, as expected according to previous interim media reports. Pretax income dropped to -€34mm in 2016 from €36mm in 2015. Revenues dropped by a third from €1,161mm to €764mm. EBITDA dropped 82% from €85mm to €15mm. Management noted that the loss resulted from: “the… Read More
We are pleased to announce the promotion of Kurt Syverson to the position of Manager of the Rohr Dredge North America operation. Kurt earned a B.S. in Mechanical Engineering in 2003 from St. Cloud State University in Minnesota. He has been a valuable member of Ellicott Dredge Technologies’ engineering group since August of 2003. Over… Read More
Employees of Dredging Corporation of India (DCI) abstained from work on Tuesday in protest against Centre’s decision to go for strategic sale of equity in the public sector unit. Functioning of its corporate office here was seriously affected as the non-executive employees went on a day-long strike in response to a call by CITU-affiliated DCI… Read More
Orion Group Holdings, Inc. (NYSE: ORN) announced today the acquisition of Tony Bagliore Concrete, Inc. (“TBC”) for $6 million in cash. Founded in 2010, TBC is a full-service concrete contractor that provides turnkey services covering all phases of commercial concrete construction in Central Texas. In addition to the upfront purchase price, the sellers have an… Read More
CPI (M) State secretary P. Madhu has requested Chief Minister N. Chandrababu Naidu to stall the attempts to privatise Visakhapatnam-based Dredging Corporation of India (DCI). In a letter to the Chief Minister, Mr. Madhu stated that the Mini Ratna category DCI was playing a crucial role in the development of major and minor ports. “It… Read More
At its 2017 Spring Conference, the American Association of Port Authorities (AAPA)—the unified and recognized voice of seaports in the Americas—elected Steve Cernak, chief executive and port director for Broward County, Fla.’s Port Everglades, to serve as the association’s chairman of the board for the 2017-18 activity year that begins in October. Mr. Cernak is… Read More
Finance Ministry has cancelled a plan to give a 10% cash incentive to Vosta LMG-Karnaphuly Joint Venture Consortium Ltd as the firm does not use local raw materials to produce ships, dredgers and water machines. The joint venture has already taken bond facilities from Chittagong Bond Corporate for importing raw materials to manufacture ships, dredgers… Read More
Consultancy firm Royal HaskoningDHV has been contracted for the detailed design of the Marginal da Corimba reclamation and shore protection project in Angola’s capital city Luanda. This major contract was awarded by the consortium of Angolan Urbinveste Real Estate and Dutch dredging company Van Oord. The detailed design stage is scheduled to be completed in… Read More
Poole Harbour Commissioners (PHC) has appointed Phil Armstrong as its new Harbour Engineer. He joined PHC four years ago, as Engineering Project Manager, and now takes over the role of Harbour Engineer from Andy Ramsbottom, who retires this summer. Commenting on his promotion, Mr Armstrong said: “This is a particularly exciting time for the Port… Read More
Royal Boskalis Westminster N.V. (Boskalis) in joint venture with Jan De Nul has acquired a contract with port operator Jawaharlal Nehru Port Trust for the deepening and widening of the access channel towards Jawaharlal Nehru Port in Mumbai, India. The contract carries a value of approximately EUR 250 million with a 50% share for Boskalis…. Read More
Great Lakes Dredge & Dock, which has not rallied like most infrastructure stocks due to internal issues, has brought in new management, and looks poised for a turnaround in 2017. There are myriad reasons the company looks like it will see brighter horizons over the coming 12 months. These include: a return to profitability at… Read More
A consortium of Jan De Nul NV and Royal Boskalis Westminster NV is set to secure the contract for deepening and widening the channel of Jawaharlal Nehru Port Trust (JNPT), India’s busiest container port. The consortium quoted the lowest rate of about USD300 million for the work dubbed India’s biggest dredging work by value and… Read More