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Dredging Corporation of India (DCI) has registered a 27 per cent increase in profits during 2015-16 as compared to 2014-15 fiscal. As per the annual standalone audit financial results, DCI has stated that its profits increased from Rs 62.41 crore in 2014-15 to Rs 79.67 crore in Rs 2015-16. The turnover of the Vizag headquartered… Read More
The winners of the port’s tender to dredge the fairway include Latvian companies VRG Profil and BMGS, specializing in hydro development and dredging works, as well as international companies Rohde Nielsen, Van Oord Dredging and Marine Contractors, Jan De Nul and Boskalis(Terramare), which are among the world’s top five performers of hydro developing and dredging… Read More
Orion Group Holdings, Inc. (NYSE:ORN), a leading construction company, today announced that David Griffith joins the Company as Investor Relations Manager. He will report to Orion’s Vice President of Finance, Robert Tabb. Chris DeAlmeida, Orion Group Holding’s Chief Financial Officer, commented, “David is a proven investor relations professional with more than 10 years of experience,… Read More
Dutch marine contractor Boskalis says its joint venture Fehmarn Belt Contractors has been awarded a $334 million contract related to the construction of the world’s longest car and railroad tunnel connecting Germany with Denmark and the rest of Scandinavia below the Baltic Sea. The contract was part of a slew of contracts awarded Monday by… Read More
HCF Small Cap Advisory is pleased to announce that its client, the shareholders of J. den Boer, have successfully sold the company to Verboon Maasland. J. den Boer is a Dutch family company specialized in earth, road and water works. Typical projects and activities include construction and maintenance of dikes, unloading of (contaminated) silt, activities… Read More
Several multimillion dollar development projects in the Polonnaruwa district are set to be doled out on single-bid basis to Chinese companies in a departure from the new Government’s proclaimed policy of calling for open, competitive tenders. Exim Bank of China is lending the necessary funds on concessional terms. Two such companies have already started gratis… Read More
South Korea’s STX Offshore & Shipbuilding Co. has filed for receivership, in further evidence of the challenges facing global shipbuilders mired in one of the industry’s worst slumps. The filing with the Seoul Central District Court on Friday came just two days after its creditors discontinued providing a lifeline after years of financial assistance failed… Read More
Debt-laden Hyundai Merchant Marine has secured a $570 million debt to equity swap with its creditors, Korea Development Bank announced early Monday. The exchange represents about 13 percent of the total the carrier owes. Participating creditors have not yet finalized what portion of HMM they will receive in exchange for the swap, KDB said. HMM… Read More
The Payra Port Authority (PPA) under the shipping ministry yesterday signed the first memorandum of understanding (MoU) with Belgian company Jan De Nul for capital dredging and ongoing maintenance dredging to develop the Payra Deep-sea Port. As a Foreign Direct Investor, Jan de Nul will carry out a major capital dredging of about 35 nautical… Read More
Bangladesh today takes a big step in making a name for itself on the map of south Asian megaports. The government is expected to sign a $2bn deal with Belgian dredging company Jan De Nul today to kick off a big development at Payra port, whereby ships 300 m long, and 14 m deep should… Read More
Orion Marine Group, Inc. (NYSE:ORN), a leading construction company, today announced a new corporate name and logo. The Board of Directors of Orion Marine Group is pleased to announce it has approved a name change to Orion Group Holdings, Inc. to encompass the breadth of services for each of the Company’s business segments. The Company’s… Read More
The EuroDredger450, a Cutter Suction Dredger with a discharge pipe diameter of 450mm built in the Netherlands, has been successfully launched and is now available for delivery. The Euro Dredger 450 is the first Cutter Suction Dredger resulting from the partnership between Dredge Yard and Neptune Shipyards in The Netherlands. Both companies joined forces to… Read More
ZWIJNDRECHT | Next Sunday DEME is participating again in the Open Site Day, the annual public event of the construction industry organised by the Belgian Construction Federation. As DEME’s sites are mainly on open sea, the Belgian dredging, environmental and marine engineering group is bringing two vessels to the head office in Zwijndrecht: the trailing… Read More
2015 was in many ways a year of major challenges. There has been a severe slowdown in the growth of the global economy including the BRICS countries and in addition, oil prices reached unprecedented lows. The conditions in which Jan De Nul Group had to deliver a strong result, were – to put it mildly… Read More
The U.S. Army Corps of Engineers is getting a new commander. The corps says in a statement that Lt. Gen. Thomas Bostick is retiring Thursday after four years as chief engineer and commanding general, and 38 years of military service. The change-of-command ceremony is at Joint Base Myer-Henderson Hall in northern Virginia, just outside the… Read More