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Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced today the results of its previously-announced cash tender offer to purchase any and all of the $275 million aggregate principal amount of 7.375% Senior Notes due 2019. The terms and conditions of the Tender Offer, which expired at 5:00 p.m., New York City time, on Friday, May… Read More
Caterpillar Marine was selected to power three 3500 m³ trailing suction hopper dredgers for the Jan De Nul Group with Cat 3500E IMO III and EPA Tier 4 certified engines. Cat said the 3500E incorporates selective catalyst reduction (SCR) after-treatment technology with closed-loop NOx sensing and application optimized performance for minimized owning and operating costs…. Read More
Global marine survey company, Partrac Ltd have been awarded a metocean contract by Kincardine Offshore Windfarm Limited (KOWL). Partracwillmonitor oceanographic processes at the Kincardine site located south-east of Aberdeen, approximately 8nm (15km) from the Scottish coastline. The Project will utilise innovative hybrid concrete support structure design combining the features of SPAR and SEMISUBMERSIBLE platforms. Once… Read More
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced today that it has priced its previously-announced offering of $325 million aggregate principal amount of its newly-issued unsecured senior notes due 2022. The 2022 Notes were priced at par with a coupon rate of 8.000%. The 2022 Notes will mature on May 15, 2022. Each of the… Read More
Dutch dredging, marine and offshore contractor Royal Boskalis Westminster has completed a study into the costs of its head office organization. The company said the deterioration in the market and the expected long spell of low energy prices were the reason for the study. Based on the study, Boskalis will target total cost savings of… Read More
National Marine Dredging Company (NMDC) on Monday posted a sharp year-on-year decline in its profits by 85.2% in the first three months of 2017. NMDC’s profits fell to AED 1.55 million ($421,900) in Q1-17, from AED 10.46 million ($2.85 million) in the corresponding period of 2016, according to a filing to the Abu Dhabi Securities… Read More
Arcadis, the leading global design and consultancy firm for natural and built assets, has recently completed an approximate $8 million contract by the U.S. Army Corps of Engineers (USACE) Baltimore District to locate and safely remove pieces of World War I-era artillery boosters from three New Jersey beaches. The project follows Arcadis’ selection as one… Read More
– A.P. Moller – Maersk delivered an underlying profit of USD 201m in line with same quarter last year. – Revenue increased by 5 pct. or USD 424m to USD 9.0bn as a result of revenue growth in Maersk Line and Maersk Oil. – Transport & Logistics are progressing on business integration with Maersk Line… Read More
Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) announced its quarterly earnings results on May 10, 2017. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.02. The firm had revenue of $170.59 million during the quarter, compared to the consensus estimate of $170.10 million. Great… Read More
THE Gladstone Ports Corporation could face at least 200 court claims worth $100 million over its 2011 dredging. Law Essentials and Clyde and Co are working to form a class action for people “negatively impacted” by the Western Basin Dredging and Disposal Project. Law Essentials director and solicitor Chris Thompson said already they have signed… Read More
Boskalis’ decline in revenue from offshore energy in the first quarter of 2017 was “in line with expectations”. A good contribution from the offshore wind business was unable to offset weak market conditions elsewhere, the company said Boskalis said the assets acquired from VolkerWessels in mid-2016, which are carrying out cable-laying activities at the Galloper… Read More
Ukrainian Sea Ports Authority (USPA) decided to sign an agreement with China Harbor Engineering Company Ltd. about dredging works in the area of berths # 23, 24 and 25 in Yuzhnyi seaport. The agreement value is UAH 1.07 billion. It is expected to be signed in May, reports UkrAgroConsult. As a reminder, on April 20,… Read More
On the orders of South Korea’s Securities & Futures Commission, troubled Daewoo Shipbuilding & Marine Engineering (DSME) has altered its audited accounts from 2008 to the first quarter of 2016, as its figures for this period have been judged as inaccurate. DSME’s operating profit in 2012, stated as KRW486.2 billion (USD430 million), has been corrected… Read More
Black & Veatch-designed desalination effort delivers clean water for world’s largest copper mine Recognizing its size and technical complexity, the Escondida Water Supply (EWS) project in Chile was selected Industrial Desalination Plant of the Year at the 2017 Global Water Summit. The plant increases water supply by creating purified water from seawater and delivering it… Read More
Stantec Inc. is pleased to announce that it has completed the acquisition of Broomfield, Colorado-based MWH Global, Inc. a 6,800-person engineering, consulting and construction management firm focused on water and natural resources for built infrastructure and the environment. With award-winning project work and 187 offices distributed across 26 countries, the Acquisition expands Stantec’s position as… Read More