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Thursday, December 13, 2018

Great Lakes Dredge Dock News

Pearl Harbor Remembrance Day: Jones Act Dredgers, America at its Best

The U.S.-Flag dredging industry commemorates the 77th anniversary of the Japanese air raid on the United States Naval Base at Pearl Harbor highlighting the critical need for a robust American shipbuilding capacity to ensure for the preparedness of the nation.“Today our brothers and sisters of the U.S Merchant Marine look to the past sacrifices made by 2,403 U.S. servicemen who died in the attacks on Pearl Harbor. We honor the members of the U.S. Armed Services,” said William P.

Callen Marine's CSD General Eisenhower in action in the port of Galveston, Texas (CREDIT: Callen Marine)

Doubling Down on Domestic Dredging

U.S. Dredgers Weigh in on Infrastructure, U.S. Capabilities and the road ahead.Domestic dredging firms face many challenges in the coming months and years. At the same time, opportunities abound in a market and political climate that seems to beg for infrastructure upgrades, especially when it comes to harbors and inland waterways. Weighing in this edition on all of that – and more – are three U.S.-based dredging firms; Callan Marine, Cashman Dredging, and Weeks Marine.Cranford, NJ-based Weeks Marine, Inc.

(Credit: Callan Marine)

Doubling Down on Domestic Dredging

U.S. dredgers weigh in on infrastructure, U.S. capabilities and the road ahead.Domestic dredging firms face many challenges in the coming months and years. At the same time, opportunities abound in a market and political climate that seems to beg for infrastructure upgrades, especially when it comes to harbors and inland waterways. Weighing in this edition on all of that – and more – are three U.S.-based dredging firms; Callan Marine, Cashman Dredging, and Weeks Marine.Cranford, N.J.-based Weeks Marine, Inc.

GLDD's Hopper Dredge, Ellis Island (Photo:GlobeNewswire)

GLDD Wins $164 Million in Dredging Awards

Great Lakes Dredge & Dock Corporation (Great Lakes), provider of both dredging services in the United States and environmental and infrastructure services, announced the receipt of a several dredging awards totaling $164 million. the Delaware River Deepening Variation Order (Capital, Delaware, $14.3 million). The scope of work for the four coastal protection projects includes sustenance of beachfronts with sand excavated from off-shore borrow which is then used to rebuild dunes and restore the shorelines eroded by winter storms.

MAGDALEN (Photo courtesy of  AMP)

US Dredging Invests in American Workers, Safe Navigation Channels

The American Maritime Partnership (AMP), the voice of the domestic maritime industry, has highlighted the U.S. dredging industry’s commitment to build and maintain safe, efficient and cost-effective navigation channels in the nation’s inland waterways and ports. The recent deliveries of four state-of-the-art vessels, constructed by nearly 700 American workers in U.S. shipyards, are a reflection of the U.S. dredging industry’s continued investment in building dredges with increased…

Great Lakes Awarded $213 Mln Dredging Contract

Dredging, environmental and infrastructure services provider Great Lakes Dredge & Dock Corporation announced the receipt of a $213.3 million award for the Post 45 Charleston Entrance Channel Maintenance and New Work Dredging – Contract 2 Project base contract. The scope of work includes excavation of approximately 8 million cubic yards of material to deepen a portion of the Charleston, S.C. harbor entrance channel. Work is expected to be completed by the end of 2020. Great Lakes expects the U.S. Army Corps of Engineers to award the Option work items of the contract within 120 days.

© SC Ports

SC Ports Reports Record Box Volumes

South Carolina Ports Authority (SCPA) announced calendar year-to-date container volume increases of 13 percent and the strongest July on record. Since the calendar year began, SCPA has handled 1.3 million twenty-foot equivalent units (TEU), compared to 1.14 million TEUs during the same period last year. The port moved 182,411 TEUs in July, breaking the previous record of 177,265 TEUs achieved in July 2016. Last month was also a record July for pier container volume, or box volume.

Great Lakes Dredge & Dock Names Petterson CEO

Effective May 1, Lasse Petterson has assumed the role of chief executive officer (CEO), a provider of dredging, environmental and remediation services. In his over 35-year career, Petterson has gained extensive experience in the engineering, construction and maritime industries. His international experience includes time working and living in Norway, Asia and the U.K. to oversee operations and major projects in Australia, Middle East and South America. Most recently, Petterson served as a private consultant to clients in the oil and gas sector.

Petterson Named Great Lakes CEO

The Board of Directors of Great Lakes Dredge & Dock Corporation, provider of dredging, environmental and remediation services, announced the selection of Lasse Petterson as CEO, as well as his appointment to the company’s board of directors. Petterson will join the Board immediately and assume the role of chief executive officer once his application for U.S. citizenship, as required by the Jones Act, is finalized, which is expected in Q1 2017. During this time, Lasse and current CEO Jonathan Berger will work to ensure a seamless transition.

Foxx Names New Members to Maritime Industry Advisory Panel

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 the Secretary and the Maritime Administration on policies to ensure that the U.S. Marine Transportation System is capable of responding to projected trade increases.

Great Lakes, along with its Consortium partner Dredging International NV, was responsible for dredging approximately 40 million cubic meters to -24m depth along a 29.5 kilometer stretch of the Canal

GLDD Completes Suez Contract

Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States and a major provider of environmental and remediation services, announced today that it will participate in the events planned to celebrate the recent completion of the New Suez Canal Project in Egypt, which will allow two way traffic by creating a parallel channel alongside 70 kilometers of the existing Canal. The inauguration ceremony is scheduled today August 6, 2015. Great Lakes…

The Hydrographic Services Review Panel advises NOAA on improving services for navigation and coastal resilience. (Credit: NOAA)

New Lineup for NOAA Hydrographic Services Panel

NOAA administrator Kathryn Sullivan, Ph.D., has appointed six members to the Hydrographic Services Review Panel, a federal advisory committee that gives NOAA independent advice for improving a range of services and products that support navigation and coastal resilience. Capt. “Providing coastal communities, boaters, and the commercial maritime industry with timely, reliable, accurate, and authoritative information is essential as we strive to keep commerce flowing through our nation’s ports,” Sullivan said. Rear Admiral Ken Barbor (ret.), U.S. Lawson W. Capt. Gary A. Scott R.

GLDD Sells Historic Demolition Business

Largest provider of dredging services in the United States, Great Lakes Dredge & Dock Corporation (GLDD) informs it has completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise the historical demolition business, to a privately owned demolition company located in the Midwest for US$5.3 million. GLDD points out that it retains the right to collect all outstanding accounts receivable and work in process at the date of close, as well as any outstanding claims…

GLDD Q2 2013 Results: Demolition Segment Strategy for Review

Great Lakes Dredge & Dock Corporation (GLDD) the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition and remediation services, report financial results for the 3 and 6 months ended June 30, 2013. Jonathan Berger, Chief Executive Officer stated, “For the three months ended June 30, 2013, Great Lakes reported Revenue of $152.9 million, a Net Loss of $25.2 million and Adjusted EBITDA of $11.0 million. Included in the Net Loss is a $21.5 million noncash charge for goodwill impairment related to the demolition segment.

Marine dredge E. W. Ellefsen working on the lower Mississippi River.

Perilous Position for Ports

Passage of WRDA would increase dredging dollars and alter the nation’s intermodal equation. Maritime stakeholders hold their breath. Deferred dredging and maintenance for domestic ports, harbors and critical waterways means that vessels must carry less cargo. It’s that simple. Sometimes, they can’t move at all. When channels aren’t dredged to intended dimensions, all stakeholders – manufacturers, agricultural interests and vessel operators alike – lose money. And the risk of ships grounding or colliding grows.

Lessons From Losses: Removing Insurance Ambiguity

In the aftermath of Superstorm Sandy, there are enormous rebuilding efforts going on all around the waterfront. If you are a marine contractor participating in the rebuilding efforts, have you read your General Liability policy lately? The last thing that a marine contractor needs to worry about is confusion over insurance coverage. As a marine contractor you know much of the work you do – whether it be dock or pier construction, bulkhead or riprap construction, or waterway dredging and beach replacement – is done using specialized watercraft.

GLDD Reports Dredging Profitable in 2012, Demolition Not So

Great Lakes Dredge & Dock Corp reporte financial results for the final quarter and year ended December 31, 2012. ◦    The above increases were partially offset by decreases in demolition revenue (52%) and coastal protection (previously referred to as beach nourishment) revenue (27%). Significant work was done in the demolition segment in 2012 on projects where revenue was not recognized because of pending change orders. In addition, demolition revenue was higher in 2011 due to the revenue recorded on a large bridge demolition project in Louisiana that did not reoccur in 2012.

Arthure Kill Channel Area: Image credit US ACE

Great Lakes Dredge & Dock Net Arthur Kill Contract

The U.S. Army Corps of Engineers (ACE) contract is for deepening NY/NJ Arthur Kill Channel to 50 feet. The contract area for this project is along Newark Bay, New Jersey and the Arthur Kill, Borough of Staten Island, New York, N.Y. Its  value is $41,368,100, cost-shared with The Port Authority of New York and New Jersey. The project includes drilling, blasting, dredging, and disposal of rock. contract will not adversely affect the surrounding communities. The Arthur Kill Channel…

A GLDD Dredger: Photo courtesy of GLDD

Big Wilmington Harbor Dredging Contract for GLDD

Great Lakes Dredge & Dock Corporation (GLDD) gets Wilmington Harbor anchorage basin deepening contract from Army Corps of Engineers. The contract, worth US$16.4-million, is for the deepening of the anchorage basin portion of the existing navigation channel on the Cape Fear River in North Carolina. This project was awarded to  by the Army Corps of Engineers Wilmington District and involves the excavation of sand, gravel and rock seabed material. Work is expected to begin before the end of the year.

Great Lakes Dredge & Dock Declare Cash Dividend

Great Lakes Dredge & Dock Corporation declare a quarterly cash dividend on its common stock. The Board approved a $0.021 per share cash dividend, to be paid on September 14, 2012 to the holders of record of common stock of the Company at the close of business on September 7, 2012. Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast.

GLDD Appoints New Senior Executive

Great Lakes Dredge & Dock Corporation (GLDD) appoint Bill Steckel Senior Vice President & Chief Financial Officer. Mr. Steckel brings nearly 30 years of financial and operating management experience in public and private companies. Bruce Biemeck, who has served as President and CFO since September 2010, will remain as President and Chief Operating Officer of the Company. Mr. Steckel will report to Chief Executive Officer Jonathan Berger. Bill Steckel's background includes success in increasingly responsible financial positions…

Photo credit Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Issues Major Vessel Contracts

Great Lakes Dredge & Dock Corp. contracts Signal International for construction of hopper barge & tugboat. Great Lakes Dredge & Dock Corporation the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition and remediation services, announce the execution of definitive contracts for the construction of a 15,000-cubic-yard-capacity trailing suction hopper barge and 14,000-horsepower tug. The Company has contracted with Signal International Inc.…

GLDD crew planning next task on the deck.

SafeOps: Dredging Industry Full Ahead

Safety experts both in and out of the maritime industry have for years been urging companies to restructure their organizational charts and erase the traditional division between Safety and Operations Departments in favor of disseminating safety responsibilities throughout operational divisions. This internal merger is often sold as an effective strategy for improving employee communications, fostering greater safety leadership throughout a company, and reducing the rate of injuries, as well as the high costs that come with them.

The Crowley-managed PCTC in ASRY's large 500,000 dwt graving dock in early February.

Bahrain's ASRY Turns in a Profitable Q1

The Kingdom of Bahrain’s Arab Shipbuilding & Repair Yard Co (ASRY) has turned in a profitable first quarter of 2012 despite the continued shipping recession and increased competition in the region. As of the beginning of May ASRY was running at close to capacity and had work in hand for the next 12 weeks. This, says CEO Chris Potter, is quite some achievement in a region which already has plenty of repair capacity, even before two major new repair facilities opened for business recently in Qatar and Oman.

New USACE Contracts

Great Lakes Dredge & Dock Co., LLC, Oak Brook, Ill., was awarded on April 30 a $10,248,000 firm-fixed-price contract for 2010 north coast dredging, including the mouth of the Columbia River.  Work is to be performed along the Columbia River in Washington State and Oregon, with an estimated completion date of Oct. 1, 2010.  Two bids were solicited with two bids received.  U.S. Army Corps of Engineers, Portland District, Portland, Ore., is the contracting activity (W9127N-10-C-0026).

New USACE Contract

Great Lakes Dredge & Dock Co., LLC, Oak Brook, Ill., was awarded on Dec. 08, 2009, a $8,691,280 firm-fixed-price contract. The work consists of furnishing one fully crewed and equipped self-propelled trailing suction-type hopper dredge on a rental basis. Work is to be performed at the Mississippi River Southwest Pass areas and possibly other areas of the New Orleans district and in areas of both the Galveston and Mobile Districts, with an estimated completion date of June 11, 2010. Bids were solicited on the World Wide Web with one bid received. U.S.