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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
IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced Boskalis and DEME as key sponsors for DPC Innovation Awards 2016, an inaugural event organized by IHS Dredging and Port Construction Magazine, scheduled to take place at the Marriott Hotel, Grosvenor Square, Mayfair, London on 10 November 2016. IHS Dredging… Read More
The board of directors of the Cleveland-Cuyahoga County Port Authority (Port of Cleveland) received a report demonstrating significant growth of Cleveland Harbor’s economic impact in Northeast Ohio. The report, authored by international maritime and logistics consulting firm, Martin Associates, found that maritime commerce in Cleveland produces over $3.5 billion of total economic value annually for… Read More
Highstar Capital, a New York-based private equity firm, is said to be exploring the sale of terminal operator Ports America with an estimated asking price of $1 billion. Ports America is the largest independent terminal operator on the U.S. East Coast. Bloomberg News said that RBC Capital was working with Highstar to find a buyer;… Read More
South Carolina Ports Authority President and Chief Executive Officer Jim Newsome has been recognized as the “Person of the Year” by the Agriculture Transportation Coalition (AgTC), the ports authority announced yesterday. Newsome is the first person in the coalition’s history to receive the award. The AgTC recognized him for pioneering a solution to the Safety… Read More
Col. Robert G. Dixon was recently named commander of the U.S. Army Corps of Engineers, Little Rock district. The district has a staff of about 715 employees and is responsible for a $500 million program annually to maintain the Arkansas River and other waterways. The district has 13 locks and dams, 12 multi-purpose lakes, seven… Read More