Business & Finance
Business & Finance
BlueFive Capital acquires 70Pct stake in UAE dredging company Gulf Cobla
BlueFive Capital has acquired a 70% stake in Gulf Cobla LLC, a UAE-based dredging and land reclamation company. As part of the transaction, BlueFive Capital will acquire the entire 49% shareholding held by Advanced Dynamics Investments, an affiliate of Saudi Binladin Group, together with a 21% stake
Business & Finance
United States to fund construction of Poti Seaport’s new berth
The U.S. Embassy in Georgia said today that the U.S. Development Finance Corporation (DFC) has signed a second loan agreement worth $25 million with PACE Group for a port development program. According to their official announcement, the financing will be used to complete the construction of the sec
Business & Finance
The final countdown: Preparing for OEEC 2025
[PRESS RELEASE BY NAVINGO BV] The energy is rising as we enter the final countdown to the 18th edition of the Offshore Energy Exhibition & Conference (OEEC), taking place on 25–26 November at RAI Amsterdam. In less than one week, thousands of professionals from across the offshore energy sector will
Business & Finance
DEME’s nine-month turnover tops 3 billion euros
DEME Group has reported a turnover of 3.09 billion euros for the first nine months of 2025, a 3% increase year-over-year. The group’s order book totals 7.5 billion euros, representing a 5% increase from 7.1 billion euros a year earlier, and remains stable compared with mid-year levels. Offshore Ener
Business & Finance
GLDD delivers another solid quarter
Great Lakes Dredge & Dock Corporation (GLDD) has delivered another solid quarter, driven by strong project execution and high equipment utilization. The company ended the third quarter with revenue of $195.2 million, net income of $17.7 million, and adjusted EBITDA of $39.3 million. “Our substantial
Business & Finance
Orion delivers another strong third quarter
Orion Group Holdings (ORN) has reported another strong quarter and raised guidance for the full year. According to Travis Boone, President and Chief Executive Officer of Orion Group, the company delivered another strong third quarter marked by top- and bottom-line results, robust cash generation, go
Business & Finance
Orion gets over $120 million in new contracts
Orion Group Holdings (ORN) has announced new contract awards with a total value of over $120 million. According to the company, new contract awards were evenly balanced between Orion’s Marine and Concrete segments. “I’m proud of how our team continues to raise the bar, executing complex projects wit
Business & Finance
DEME delivers another strong performance
DEME Group today announced its half-year 2025 results, delivering strong performance across key business areas. The company’s Dredging & Infra sector continued working on global capital dredging, maintenance, and major European infrastructure projects. Europe continued to be DEME’s primary region, a
Business & Finance
Strong first half of the year for Boskalis
Royal Boskalis (Boskalis) has concluded a remarkably strong first half of the year with all of the company’s divisions reporting substantial increases in their results, leading to an exceptional first half performance. Revenue increased by 14% compared to last year, reaching EUR 2.35 billion (H1 202
Business & Finance
Orion delivers strong second quarter
Orion Group Holdings (ORN) yesterday reported its financial results for the second quarter ended June 30, 2025. According to the report, ORN delivered another strong performance in the second quarter with revenue increasing 7% to $205 million and Adjusted EBITDA doubling to $11 million from the seco
Business & Finance
Royal IHC expects ‘busy year’ ahead
Royal IHC has stated that the 2024 was a significant ‘turning point’ for the company after years of financial uncertainty. The positive results of the strategic review and restructuring in 2023 have created the foundation for further growth, IHC said in the release. Revenue increased with 40% in 202
Business & Finance
USACE to receive $218M for projects across mid-Atlantic
The U.S. Army Corps of Engineers, Baltimore District has received more than $218 million in funding for numerous infrastructure improvement, dredging, and environmental projects benefiting Maryland, Pennsylvania, southern New York, and the District of Columbia, including $62 million towards Baltimor
Business & Finance
Great Lakes reports ‘great first quarter’ earnings
Great Lakes Dredge & Dock Corporation (GLDD) yesterday reported financial results for the first quarter ended March 31, 2025. According to Lasse Petterson, President and Chief Executive Officer, Great Lakes had an great first quarter, with strong project performance and high utilization as all of th
Business & Finance
Van Oord presents the Annual Report for 2024
The General Meeting of Shareholders of Van Oord took place yesterday, April 24, during which the Annual Report 2024 was presented. According to the Report, in 2024, the company demonstrated outstanding teamwork in executing 147 projects. The infrastructure market was characterized by regional variat