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Essar Ports is contemplating refinancing its debt of around Rs 3,000 crore to bring down the interest cost. “Essar Ports’s debt is around Rs 3,000 crore with present interest rate of 11%. Ideally, we would like it to be somewhere at 9% and are looking at ways to refinance our debt,” said Rajiv Agarwal, managing… Read More
The Antimonopoly Committee of Ukraine has filed Ligos UA LLC (Mariupol, Donetsk region) and Ukrzviazokhydrobud LLC (Odesa) totally UAH 23 million for collusion resulted in the misrepresentation of the results of the tender to buy dredging works at the Yuzhny seaport (Odesa region) announced in August 2015. According to a decision of the committee issued… Read More
French shipping company CMA CGM has signed shipbuilding contracts for its nine 22,000 TEU Ultra Large Container Vessels (ULCVs) with state-run China State Shipbuilding Corporation (CSSC) Group. The nine vessels will be the largest containerships ever constructed. The shipbuilding contracts come on the heels of CMA CGM confirming its plan to construct the long-rumored vessels… Read More
On the heels of CMA CGM’s order for nine record-breaking 22,000 TEU containerships, Mediterranean Shipping Company has confirmed it has placed its own order for eleven new vessels each with a capacity of 22,000 TEU. Although the newbuilding order has not been officially announced, a spokesperson for MSC has confirmed the order in a statement… Read More
World Marine of Alabama (WMA) has been awarded a contract to drydock and repair the Army Corps of Engineers hopper dredge Wheeler. Since the Wheeler’s commissioning at Avondale Shipyards in 1982, WMA’s facility in Mobile, Ala., has drydocked and repaired the dredge on many occasions, including a complete repowering of the vessel in 2012, the… Read More
Advancing the Tomorrow’s Port Canaveral vision to accommodate future growth for the world’s second-busiest cruise port, Canaveral Port Authority engaged long-time partner CH2M to design a new terminal to support its cruise business, which currently accounts for 80 percent of the Port’s revenue. The new terminal will join the Port’s Cruise Terminal One, also designed… Read More
A.P. Møller – Mærsk A/S [A.P. Moller – Maersk] has signed an agreement to sell Maersk Tankers A/S [Maersk Tankers] to APMH Invest A/S, a subsidiary of A.P. Moller Holding A/S [A.P. Moller Holding] for USD 1,171 mill. in an all-cash transaction. The transaction entails a market upside provision regulating total payment should the product… Read More
Patriot Marine of Boston wants to buy a small piece of riverfront land from the city to bring its dredging and marine construction company here. The proposal is to purchase a 15,500-square-foot strip at 90 River St. along the Qunnipiac River for $80,000 from the city. The company needs the riverfront piece to have water… Read More
Jan De Nul Group wins the annual IADC Safety Award, presented during the Annual General Meeting of the International Association of Dredging Companies (IADC) in Marseille, France, the company said in its press release. Jan De Nul Group is being honoured for its ‘transport of pipeline optimization’ initiative on its logistic hubs in Zelzate (Belgium)… Read More
The Ukrainian Sea Ports Authority (USPA) says it has announced the open tender procedure for the construction of trailing suction hopper dredger. National and international shipbuilding companies are invited to participate. To ensure equal conditions, the tender documentation is published in two languages — Ukrainian and English. The company can submit its proposals to USPA… Read More
Shipping company Mercator Ltd is eyeing a slice of the projected Rs 12,000-crore annual dredging contracts to be generated under the governments ambitious Sagarmala initiative. “As one of the largest private sector dredging companies in India, our extensive experience would surely help us get a slice of this business. Pipelines for upcoming contracts are strong… Read More
Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States and a major provider of environmental and infrastructure services, announced the receipt of a combined $87.3 million in awarded work across four projects, including the $47.2 million award for the Post 45 Foot Charleston Entrance Channel Maintenance and New… Read More
Central Nebraska Public Power and Irrigation District (CNPPID) has purchased an IMS Model 5012 HP Versi-Dredge® from Ellicott Dredge Technologies (EDT) to clean out Jeffrey Reservoir, which is the regulating reservoir for the Jeffrey Hydroplant. The dredge was purchased after a successful three-month lease-purchase trial. Since the hydro-irrigation project began operations in 1941, sediment has… Read More
Large, internationally operating companies are showing their commitment to devastated St. Maarten/St. Martin and sending supplies. Boskalis from the Netherlands and the Airbus Foundation from France announced separately on Wednesday that they are bringing a large cargo to the island. The Airbus Foundation and the French Red Cross have sent an Airbus A350 XWB test… Read More
By December, when an Adani Group company inducts two large dredgers to its fleet, it will not only make the firm India’s biggest dredging contractor alongside state-run Dredging Corporation of India Ltd (DCI), but also intensify competition in a market that has seen contractors quoting very low rates to win work. Adani Ports and Special… Read More