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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
Van Oord’s Spanish subsidiary Dravo S.A. has been awarded a number of long-term beach maintenance contracts. These projects will contribute to both coastal defences as well the development of tourism. This year’s beach replenishments in Barcelona and La Pineda near Tarragona have already been completed. Activities on the beach of Playa de Castillo on the… Read More
Dutch offshore engineer Boskalis reported a 36 percent fall in core earnings in the first half but still beat analyst expectations for the company, which has been hit by low oil prices and falling demand in the global dredging market. Boskalis made earnings before interest, tax depreciation and amortization of 317.6 million euros ($359 million),… 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
Cargo tonnage on the St. Lawrence Seaway is down 11 percent for the quarter ending July 31, according to a report released by the seaway, and the Port of Cleveland is down by about 7 percent. Jade Davis, the port’s vice president for external affairs, said the decline is illusory because last year was so… Read More
Dredging Corporation of India (DCI) is expanding its operations to technical management of dredgers owned by Inland Water Authority of India (IWAI). Addressing employees on the occasion of 70th I-Day, Chairman and Managing Director Rajesh Tripathi they had successfully completing Andaman Islands Dredging Project and wished timely completion of the Mormugao Project. SOURCE: The Hindu
With a debts profile in excess of N1.17 billion from the Calabar Port alone, the Managing Director, Nigerian Ports Authority (NPA), Hadiza Bala Usman, has vowed to block all revenue leakages in the company, while also pursuing huge debtors including the Nigerian National Petroleum Corporation (NNPC), terminal operators, and a host of others. NNPC alone… Read More
Ellicott Dredge Technologies (EDT) is pleased to announce the successful start up and installation of a state-of-the-art Mud Cat brand ROV (remote operated vehicle) at the world famous Gardens by the Bay nature park in central Singapore. ML Trading International purchased a Mud Cat Model SRD-6EHV ROV System to fulfill a contract to clean approximately… Read More
The inaugural year of the Emerging and Developing Global Executives (EDGE) Program is complete, and according to the participants, it was a great success. Building on that success, WTCI and the Bowe-Stewart Foundation are excited to introduce the second cohort of Bowe Fellows, Jim Maltese PMP, Vice President of Major Projects, Ellicott Dredges. Jim is… Read More