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Mercator Ltd intends to highlight an arbitration award it won in the Sethusamudram project in March in an effort to quash a CBI charge-sheet against its Executive Chairman HK Mittal for alleged irregularities in a dredging contract at Paradip Port Trust. In 2007-08, the Dredging Corporation of India Ltd (DCI) chartered three dredgers from Mercator… Read More
Orion Marine Group Inc. (ORN) on Thursday reported first-quarter net income of $4.1 million, after reporting a loss in the same period a year earlier. The Houston-based company said it had net income of 14 cents per share. Losses, adjusted for non-recurring gains, came to 1 cent per share. The results surpassed Wall Street expectations…. Read More
A Starr County man alleges that he was injured twice during his employment on a vessel as a seaman. Adalberto Cepeda filed a complaint on April 17 in the Harris County District Court against Weeks Marine Co. LLC alleging that the vessel owner failed to provide adequate equipment. According to the complaint, the plaintiff alleges… Read More
Thank you and good morning. ….. are now seeing that our restructuring plan is starting to yield results with the first quarter adjusted EBITDA, excluding restructuring increasing to $1 million from the prior year quarter of $11.7 million even though revenues were down quarter-over-quarter. As previously reported, we implemented last year our companywide restructuring plan… Read More
Great Lakes Dredge & Dock Corporation (GLDD), the largest provider of dredging services in the United States and a major provider of environmental and infrastructure services, today reported financial results for the quarter ended March 31, 2018. For the three months ended March 31, 2018, Great Lakes reported revenue of $146.6 million, net loss from… Read More
The state-run Dredging Corporation of India Ltd (DCI) said it “has not violated any provisions of the contract” after the board of trustees of the Central government-owned Mumbai Port Trust scrapped a three-year deal for maintaining the port’s approach channel and other areas. Stung by the termination, the Visakhapatnam-based company also said that its decision… Read More
Royal Boskalis Westminster will now operate its VBMS subsidiary under the Boskalis brand in order to present an integrated offshore energy service offering. The Dutch outfit said its Dockwise and Fairmount subsidiaries will also be run under the Boskalis name. As a first step the company’s Dockwise Vanguard semi-submersible heavy-lift vessel has been renamed BOKA… Read More
Vryhof Anchors has won a number of significant contracts for its Stevshark Rex anchoring solution. Introduced in April 2017, the anchor is available in versions ranging from 3 to 60 tonnes and features radical new fluke and shank geometries “In April 2017 when we launched the Stevshark Rex, we promised that it would redefine the… Read More
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) today announced that it will release the financial results for its three months ended March 31, 2018 on Wednesday, May 2, 2018 at 7:00 a.m. C.D.T. A conference call with the Company will be held the same day at 9:00 a.m. C.D.T. The call in number is (877)… Read More
A Luxembourg investment vehicle set up by German insurance group Alte Leipziger and Hallesche has bought Van Oord’s 10% stake in the 600MW Gemini offshore wind farm in the Dutch North Sea. WPD Invest advised Alte Leipziger and Hallesche on the deal and said the insurance group is looking to invest in other offshore projects…. Read More
HK Mittal, the Executive Chairman of Mercator Ltd, and four former top officials of State-run Dredging Corporation of India (P Sridharan, MVR Murthy, SS Tripathi and PV Ramana Murthy) have been charge-sheeted by the Central Bureau of Investigation (CBI) in a case relating to the now-stalled Sethusamudram Ship Canal Project, as well as another dredging… Read More
Ellicott Dredge Enterprises has unveiled a new website to provide more detailed information on dredge types, brands and applications. Customers can visit the site at https://www.ellicottdredges.com/; the company has also produced a companion video which can be viewed at https://youtu.be/mVzbqJTwsOM. Ellicott Dredge Enterprises was founded in 1885 and features four different dredging brands – Ellicott… Read More
Royal Boskalis Westminster N.V. (Boskalis) has emerged as best bidder in a tender to construct an artificial island in the IJmeer lake adjacent to the existing IJburg islands. Boskalis was informed about this result by the municipality of Amsterdam, the Netherlands. Based on the current plans the contract is valued at around EUR 85 million…. Read More
Markel Corporate files required reports with the SEC for the period ending March 31, 2018. Full information can be found online. Source: Seeking Alpha
Weir has entered into a binding agreement to acquire ESCO Corporation (“ESCO”), a US company based in Portland, Oregon, for an equity value of US$1,051m and an estimated enterprise value of US$1,285m. ESCO is the global market leader in highly engineered GET for surface mining and construction. ESCO is a global business with 10 manufacturing… Read More