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Ryba Marine Construction in Cheboygan was recently awarded an almost $2.4 million contract for major construction repairs at the Poe Locks, part of the Soo Locks in Sault Ste. Marie. The contract is to replace quoin and miter blocks in the lock system. The structures to be replaced are part of the crucial and deteriorating… Read More
Supported by its shareholder the IK 2007 Fund, which is advised by IK Investment Partners (IK), Doedijns Group International (DGI), through its US subsidiary Logan Industries International Corporation (DGI Logan), has acquired Hadco Services Inc. Hadco is a specialised repair and service company based in Mobile, Alabama. DGI, headquartered in the Netherlands, is a leading… Read More
Net profit of Dredging Corporation of India declined 0.75% to Rs 3.97 crore in the quarter ended June 2017 as against Rs 4.00 crore during the previous quarter ended June 2016. Sales rose 10.81% to Rs 157.94 crore in the quarter ended June 2017 as against Rs 142.53 crore during the previous quarter ended June… Read More
Mercator Ltd is planning to carve out its dredging operations into a separate unit and plans to raise as much as $200 million from financial and strategic investors for that business, two people aware of the matter said. Mercator, which is present in dredging, shipping, coal and petroleum businesses, will initially carve out the dredging… Read More
In Q2, the revenue of A. P. Moller – Maersk grew by 8.4% to USD 9.6bn year on year, mainly due to higher freight rates in Maersk Line. The underlying profit in Q2 improved from USD 134m to USD 389m with Maersk Line contributing with an underlying profit of USD 327m. As a result of… Read More
Royal Boskalis Westminster N.V. announces that it has acquired all shares of the Gardline Group (Gardline) as of today. The UK based company’s main activities include marine geophysical surveys, offshore geotechnical services and environmental surveys. With the acquisition Boskalis fulfils its strategic ambition to build a position in the offshore survey market and becomes a… Read More
The government is ready with a draft agreement for forming Special Purpose Company (SPC) with a foreign firm for carving out Payra deep-sea port channel. Under the deal, officials said, the Payra Port Authority (PPA) will hold majority shares in the proposed joint-venture company. The draft agreement, now being reviewed by the Ministry of Shipping,… Read More
Mercator Ltd posted a net loss of Rs 28.70 crore for the quarter ended June 30, 2017, on the back of lower income. It had clocked a net profit of Rs 22.09 crore in the year-ago quarter. Total income of the company fell to Rs 304.33 crore from Rs 578 crore during the corresponding quarter… Read More
CEO of Great Lakes Dredge & Dock Corp (NASDAQ:GLDD) Lasse Petterson bought 155,897 shares of GLDD on 08/09/2017 at an average price of $3.74 a share. The total cost of this purchase was $583,055. Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The Company also owns specialty… Read More
Dewberry was selected by the Long Beach Board of Harbor Commissioners to update key guidance documents for the Port of Long Beach’s engineering bureau to support the mission and objectives of its program management office (PMO), and to reflect recent changes to the port’s organizational structure and responsibilities. The Port of Long Beach is implementing… Read More
Saudi Aramco signed a contract with a consortium comprising Saudi Archirodon Company Ltd and Huta Hegerfeld AG Saudia Company for dredging, reclamation and marine structures for King Salman International Complex for Maritime Industries and Services in Ras Al-Khair. The contract is the first major undertaking for the maritime complex where contractors will conduct dredging and… Read More
Orion Group Holdings, Inc. (NYSE:ORN) (the “Company”), a leading specialty construction company, today announced a contract award of approximately $14 million. The Company’s Marine segment, Orion Marine Group, was recently awarded a contract from a port authority in the Caribbean to improve its port facilities. The project involves refurbishment and upgrades for a cruise ship… Read More
The Visakhapatnam-based Dredging Corporation of India (DCI), a miniratna public sector unit, has bagged two major orders recently, including one from Bangladesh. The DCI recently bagged a ?102-crore contract for dredging Pussur channel in Bangladesh. Earlier, it got an order from Mumbai port for maintenance dredging for ?141.06 crore. It is chartering vessels or forming… Read More
Mercator Ltd is looking to raise $300 million, or about Rs 1,910 crore, by selling its coal assets in Indonesia and Mozambique, and selling stake in its dredging division to bulge bracket private equity funds, to build a war chest for future growth. The diversified marine operator is in talks with Canadian billionaire Prem Watsa-promoted… Read More
Shipping and dredging major Mercator is in early talks with Canadian investor Fairfax and Dutch company Van Oord to evaluate a bid for public sector undertaking Dredging Corporation of India (DCI), with Rs 1,700-crore, or $275-million, market value. The NDA government is expected to kick off a process to divest controlling shares in DCI, the… Read More