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Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) posted its quarterly earnings data on Wednesday. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. Great Lakes Dredge & Dock Corp. had a negative net margin of 0.79% and a negative return on equity of 2.50%. The company earned $198.90… Read More
Royal Boskalis Westminster has completed the sale of its stake in SMIT Amandla Marine (SAM, first mooted in March this year. The stake was sold to management and local investors, returning the business of SAM to 100% South African ownership. Boskalis received a cash sum of approximately EUR50m ($53.41m) for the sale. Following the sale,… Read More
Dutch dredging companies Van Oord, Boskalis and Allseas are actively seeking involvement in a politically controversial subsea gas pipeline project which is fully owned by Russian oil giant Gazprom, the Financieele Dagblad said on Tuesday. The €8bn Nord Stream 2 pipeline will cross the Baltic Sea from Russia to Germany, parallel to the Nord Stream… Read More
Orion Group Holdings, Inc., a leading specialty construction company, today announced a contract award of approximately $22 million. The Company’s Heavy Civil Marine Construction segment, Orion Marine Group, was recently awarded a contract for a reconstruction project from the City of Savannah, Georgia. The project entails improvements to storm water drainage facilities for the Bilbo… Read More
Dredging Corporation of India and Riyada Group-Bahrain signs MOU in the city of Manama, Bahrain for business cooperation in dredging and allied services Visakhapatnam, Manama, November 29,2016: Dredging Corporation of India Limited (DCI), Government of India undertaking, a premier public sector dredging company, and Riyada Group of Companies, Kingdom of Bahrain, has signed a Business… Read More
The shipping arm of Danish conglomerate A.P. Moeller-Maersk A/S is looking to buy German peer Hamburg Süd, people with knowledge of the matter said, a deal that would help Maersk Line boost its presence in global trade with Latin America. Maersk Line, the world’s leading container-shipping operator, is interested in acquiring the entire Hamburg Süd… Read More
Jan De Nul saw one of its contracts in Ukraine valued at 35 million euros canceled by the competition authority of the Eastern European country following a complaint by a competitor, a subsidiary of the Dutch Van Oord company. The contract concerned work in the port of Youjne (south-west), on the Black Sea. The cancellation… Read More
Brazil’s Porto do Açu Oil Transhipment Terminal in Rio de Janeiro is on the path of accommodating larger vessels as the depth of its access channel will be increased to 24.5 meters by the end of 2017. At its current depth of 20.5 meters, the terminal’s access channel is capable of receiving Suezmax type vessels…. Read More
CCCC, 3TI and eAmbiente consortium have won the bid for the design of Phase 1 of Venice Offshore Port in Italy. The project is owned by the Venice Port Authority. The project involves the capital construction design of a container terminal in Phase 1 of Venice Offshore Port, including breakwater, container terminal, service zone, electric,… Read More
Great Lakes Dredge & Dock (NASDAQ:GLDD) finished 2.2% higher in today’s trade after Privet Fund Management disclosed a 5.2% active stake and said it had engaged in talks with management. Privet says it plans to continue to meet with GLDD’s management and board about corporate governance, operations, strategic plans and other means to enhance stockholder… Read More
Having carried out large number of dredging operations at various ports along the Indian coastline, Vizag-based Dredging Corporation of India (DCI) is now looking at expanding its presence to the foreign shores. As part of its plans to tap into dredging projects abroad, DCI recently signed a memorandum of understanding (MoU) with a Bahrain-based company… Read More
As it turned out, the well-known European company Jan De Nul Group – through its Ukrainian subsidiary Jan De Nul Ukraine – was involved in that fraud attempt. It is no secret that the former Soviet Union is still rife with corruption, and Ukraine is no exception. But the fact that the corruption scandal hit… Read More
Kristi Trail, a Metairie native and environmental engineer, has been named the new executive director of the Lake Pontchartrain Basin Foundation. The foundation announced her hiring Wednesday (Nov. 16.) “Kristi is the perfect choice to continue LPBF’s successful programs and steer the organization into the future,” said Carlton Dufrechou, a foundation board member who served… Read More
Ellicott Dredge Technologies (EDT) is pleased to announce new technology that will minimize down time by greatly reducing pump and cutterhead clogs in debris rich environments. EDT, through its IMS and Mud Cat™ product lines, is now offering the self-cleaning debris guard called the “Pump Defender” (patent pending) on its entire horizontal cutterhead product line…. Read More
Wärtsilä Sternguard In-Water Serviceable Seal (IWSS) has won its third award. The ground-breaking seal received the award for Innovation in Dredging Equipment at the Dredging & Port Construction (DPC) Innovation Awards 2016. The new recognition comes only days after Wärtsilä Sternguard IWSS won the Technical Innovation Award at the Seatrade Maritime Awards and the Environmental… Read More