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Van Oord, a Dutch contracting company that specialises in dredging and land reclamation, said it has successfully executed the impressive ground improvement project for Kuwait National Petroleum Company (KNPC). The project, which started in 2014, involved the reclamation of 65 million cu m of sand and extensive soil improvement. The reclamation area of 1,320 hectares… Read More
Creditor banks of Hanjin Shipping Co Ltd have decided to stop supporting South Korea’s largest shipping company, increasing the likelihood of the company being put under court receivership, two people at the creditor banks told Reuters. A spokesman for lead creditor Korea Development Bank declined to comment before an official statement. A Hanjin Shipping spokeswoman… Read More
STX Offshore & Shipbuilding Co. said Friday it will lay off about a third of its workforce and sell a yard in France, as the Korean shipbuilder aims to stay above water by restructuring. STX, which filed for receivership in May, is the country’s fourth largest shipyard. It is a unit of conglomerate STX Corp.,… Read More
Orion Group Holdings, Inc., a leading specialty construction company, today announced a contract award of approximately $28 million. The Company’s Heavy Civil Marine Construction segment, Orion Marine Group, was recently awarded a contract from the North Carolina State Ports Authority for upgrades to Berth 8 at the Port of Wilmington, North Carolina. The project will… Read More
Shares of Selangor Dredging Bhd (SDB) fell 5.64% in thin trade early today after its net profit plunged 79% to RM4.6 million in the first quarter ended June 30, 2016 (1QFY17), from RM21.49 million in 1QFY16, primarily because the previous year had recorded a gain of RM13.69 million from land disposal. At 9.19am, SDB lost… Read More
Entries are now being accepted for the IHS DPC Rising Star Award. This award will be presented to a person demonstrating outstanding achievement in the maritime industry (they must have between five and ten years’ experience in dredging & port construction) who also shows exceptional leadership in the following areas: initiative, drive and consistently ‘going… Read More
After years of debates and an earlier attempt that was aborted due to the high costs involved, the state government has engaged Dredging Corporation of India Limited to dredge the Brahmaputra every year to get relief from annual bouts of floods and erosion. A team of the public-sector undertaking will visit the state within eight… Read More
Hutchison Port Holdings (HPH) has confirmed it will open its second container terminal in Karachi at the end of October 2016, according to Reuters. The new facility, South Asia Pakistan Terminals (SAPT), will aim to handle 250,000 teu in the first year of operations and more than 2m teu annually in five years. The terminal… Read More
German state-owned lender NordLB and KKR Credit said they had reached an agreement by which KKR Credit will acquire a $1.5 billion portfolio of shipping loans from NordLB jointly with an unspecified sovereign wealth fund. The portfolio of performing and non-performing loans will include up to 100 ships and will form the seed mandate for… Read More
The U.S. Army Corps of Engineers, Galveston District awarded a contract in the amount of $7,629,200 to Manson Construction Company for maintenance dredging of the Freeport Harbor Entrance and Jetty channels in Brazoria County, Texas. The contractor is required to remove approximately 2,517,000 cubic yards of shoal material using a hopper dredge, with material being… Read More
The Georgia Ports Authority has won the 2016 EPA Clean Air Excellence Award for its electric rubber-tyred gantry crane programme. It was first implemented in 2012 and transfers container handling equipment from diesel to electric power. By the end of August, 45 will have been transitioned from diesel to electric power or purchased with electric… Read More
Seven international firms have submitted final bids for the Phase One development of the bulk liquid terminal at the Port of Duqm in Oman, a report said. The $1-billion project is a key component of the infrastructure being developed by the Omani government to support the growth of a liquids hub in the Duqm Special… Read More
The U.S. Army Corps of Engineers Galveston District awarded a contract to Weeks Marine Inc., in the amount of $15,692,500 for the maintenance dredging of the Houston Ship Channel, Redfish Reef to Morgan’s Point. Contractors will remove approximately 2.3 million cubic yards of shoal material from the channels using a hydraulic pipeline dredge to ensure… Read More
Orion Group Holdings, Inc. announced a contract award of approximately $12 million. The Company’s Heavy Civil Marine Construction segment, Orion Marine Group, was recently awarded a contract from the United States Army Corps of Engineers to perform dredging services in the Corpus Christi Ship Channel. The project entails dredging work within the Inner Basin to… Read More
South Korea’s Samsung Heavy Industries said on Friday its board of directors have approved a plan to raise about 1.1 trillion won ($985.22 million) via a rights issue as the shipbuilder struggles to cope with a prolonged downturn. Samsung Heavy Industries, part of the Samsung Group conglomerate, has been planning to sell share as it… Read More