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DP World will build and manage Ecuador’s first deepwater port, boosting the country’s competitiveness as the Panama Canal expands. The 50-year concession will allow the ports operator to expand its footprint in South America, where it already has terminals in Argentina, Brazil, Peru and Suriname, the company said yesterday. The first phase of the multi-purpose… Read More
Arc Surveying & Mapping, Inc., Demco NV and OEMG Global join forces to provide geophysical and innovative navigational surveys worldwide. Arc Surveying & Mapping, Inc, of Jacksonville, Florida and Demco NV of Wintershoven, Belgium have announced a joint venture agreement adding two additional innovative surveying services to Arc’s roster of technologically advanced surveying systems. Under… Read More
An underwater pump able to dredge 100m below the surface gives dredging company a competitive advantage. GIW Industries, Inc., the leader in the design, manufacture, and application of heavy duty centrifugal slurry pumps, announces the successful design and installation of a unique underwater pump system for a major Chinese dredging contractor. This equipment package consists of… Read More
HvS Dredging Support BV, offshore support company located in Harlingen, Nederlands, has put its new multi-purpose DP 2 vessel Zwerver II in operation. The 35 meters long vessel mobilised to Liverpool during May for its first project. It will be involved with the mattress installation and trenching operations scope on Burbo Bank Extension offshore wind… Read More
The shareholders of Middle East container shipping group United Arab Shipping Company (UASC) back the company’s merger talks with German rival Hapag-Lloyd although there has not yet been a vote to approve a deal, UASC said on Thursday. UASC, which is owned by Gulf governments, said the merger talks were discussed at an extraordinary general… Read More
The commander of the U.S. Army Corps of Engineers’ Buffalo District – which oversees shipping on Lake Erie and at the Port of Cleveland – has been reassigned, and replaced by Lt. Col. Adam Czekanski of the Army Corps’ San Francisco District. An Army Corps spokesman said the reassignment of Lt. Col. Karl Jansen was… Read More
A change in leadership within a Fort Bragg command and new assignments for two generals with local ties were among the changes announced by the Army in late May. Army Reserve Brig. Gen. Richard K. Sele will become deputy commanding general of Fort Bragg’s U.S. Army Civil Affairs and Psychological Operations Command, according to a… Read More
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