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The previous CEO of Daewoo Shipbuilding & Marine Engineering, Ko Jae-ho, was indicted Tuesday on charges of fraud, breach of trust and the violation of several securities and capital markets regulations. The criminal charges stem from his alleged involvement with inflating DSME’s reported earnings over the period from 2012 to 2014 by artificially minimizing operating… Read More
The U.S. Army Corps of Engineers has awarded Kyle Conti Construction, of Hillsborough, a $13.7-million contract for the second phase of a coastal flooding mitigation project in the Port Monmouth section of town, according to Congressman Frank Pallone’s office. This work, which includes building a system of levees, a floodwall, a tide gate, road closure… Read More
Belgian dredging and marine civils giant Jan De Nul has defied the global slowdown to boost turnover by 10 percent last year, with net profits of €265 million and a stable order book sitting on €2.7 billion. Although the traditional dredging market showed limited growth, one positive was the large volume of dredging for the… Read More
The Ruias of the Essar Group have announced an additional investment of Rs 750 crore in Essar Bulk Terminal’s expansion in Hazira, Gujarat which, along with the existing investment of Rs 2,450 crore, will take the total investment in Hazira port to Rs 3,200 crore. In a statement, the company said today the 550-metre berth… Read More
The U.S. Coast Guard reports a worker who was injured in an accident off the coast of Tybee Island has died. The worker was seriously injured before dawn on Wednesday on a vessel assigned to the Savannah Harbor Dredging operation, according to Lt. Josiah Toepfer. The unidentified man worked for a sub-contractor on the dredging… Read More
South Korean shipbuilder STX Offshore & Shipbuilding, which applied for receivership on 27 May, is worth more as a going concern than if it were to be liquidated. An interim report by EY Hanyoung, which was tasked to carry out due diligence on STX O&S, showed that the shipbuilder is worth KRW1.26 trillion (USD1.1 billion)… Read More
Great Lakes Dredge & Dock Corporation (“Great Lakes”) (NASDAQ:GLDD), the largest provider of dredging services in the United States and a provider of environmental and infrastructure services, announced today that it was recently awarded four contracts with an approximate value of $93 million. Great Lakes received two awards for coastal protection work required along the… Read More
The Cameroonian government has just awarded, for the 2nd consecutive time, the contract for the dredging operations in the Douala port channel, in the economic capital of the country, to the company China Harbour Engineering Corporation (CHEC), we learned officially. This new contract, which should carried out over a period of 24 months, has a… Read More
While opposition from Johnston County landowners stalled a proposed CSX container hub, Rocky Mount, North Carolina economic development officials quietly pieced together 700 acres for a partnership willing to take on the project. For that reason, the $272 million CSX rail hub once destined for Johnston County will instead go 50 miles north to Rocky… Read More
Keppel Offshore & Marine Ltd’s wholly owned subsidiary Keppel Singmarine Pte Ltd has secured contracts from Jan De Nul Group to build three trailing suction hopper dredges (TSHDs) worth about S$100 million in total. The first two dredges are expected to be completed in second half 2018. They will be built in Keppel Nantong Shipyard… Read More
On Tuesday, U.S. Transportation Secretary Anthony Foxx announced the appointment of 29 new members to the Marine Transportation System National Advisory Committee (MTSNAC). Established in 2010, MTSNAC is comprised of leaders from commercial transportation firms, ship construction, repair and recycling, trade associations, state and local public entities, labor organizations, academics, and environmental groups that advise… Read More
Royal IHC has entered into a partnership with NETICS, a civil engineering and consultancy agency. A leading global player in engineering with dredged sediments, NETICS specialises in ‘building with nature’ and designs innovative hydraulic structures made from reclaimed sediment. NETICS possesses unique expertise and has developed cutting-edge techniques for creating structures such as dikes, dams,… Read More
Hapag-Lloyd and United Arab Shipping Company (UASC) have signed a business combination agreement to merge both companies. Following the integration, the new Hapag-Lloyd will rank among the five largest container shipping lines in the world, with 237 vessels and a total transport capacity of around 1.6 million TEUs, an annual transport volume of 10 million… Read More
U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced an agreement to acquire a leading regional sand producer for approximately $210 million, subject to certain adjustments at closing. The transaction will be funded using a combination of cash on hand (57%) and restricted stock (43%).The acquisition of the NBR Sand unit of the privately-owned New Birmingham… Read More
The Vicksburg District of the U.S. Army Corps of Engineers will hold a Change of Command ceremony July 26 at 10 a.m. at the Vicksburg Convention Center. Colonel John W. Cross will transfer command of the Vicksburg District to Colonel Michael C. Derosier. The public is invited to attend. Major General Michael C. Wehr, U.S…. Read More