Business & Finance
Business & Finance
2022 a year of growth and recovery for Van Oord
From an operational and financial perspective, the year 2022 was one of growth and recovery for Van Oord. According to Van Oord, it was not an easy year; external factors created problems within the supply chain, putting pressure on prices and planning. This had a major impact on the company’s proje
Business & Finance
Amendment #3 signed for Manatee Harbor Navigation Project
Leaders of the Army Corps and SeaPort Manatee have executed an amendment to the longstanding Project Cooperation Agreement governing their partnership in the Manatee Harbor Navigation Project. In a formal signing ceremony, Col. James Booth, USACE Jacksonville District Commander, and George Kruse, Ch
Business & Finance
Court approves deal on Royal IHC financial restructuring
Royal IHC – a major player in the Dutch maritime manufacturing industry – has reached agreement on financial restructuring. Like most companies in this sector, IHC has recently had to deal with the effects of the international COVID crisis and geopolitical developments. Both have had a major impact
Business & Finance
Final funding secured for Mid-Barataria Sediment Diversion
The Louisiana Coastal Protection and Restoration Authority (CPRA) has overcome the final hurdle in the funding and approval processes for the Mid-Barataria Sediment Diversion project. Yesterday, the National Fish and Wildlife Foundation’s (NFWF) Board of Directors approved CPRA’s request to dedicate
Business & Finance
$24 million for waterway investments in Buffalo
Congressman Brian Higgins has announced that projects across Erie and Niagara Counties are slated to receive over $139.7 million in federal funding as outlined in the U.S. Army Corps of Engineers 2023 work plan released on February 28. Included in the funding is nearly $24 million for waterway inves
Business & Finance
USACE releases work plan for Fiscal Year 2023
The U.S. Army Corps of Engineers has delivered to Congress its Fiscal Year 2023 (FY 2023) Work Plan for the Army Civil Works program. “The FY 2023 Work Plan for Army Civil Works continues the administration’s substantial investments in projects and actions that will strengthen supply chains and the
Business & Finance
GLDD expects strong year ahead
Great Lakes Dredge & Dock Corporation (GLDD) has reported financial results for the quarter and year ended December 31, 2022. As reported, the fourth quarter continued to be impacted by a significantly delayed bid market combined with high inflation, significant weather delays on projects in the Nor
Business & Finance
WEDA’s 2023 Midwest Chapter Meeting
In less than three weeks, WEDA’s 2023 Midwest Chapter Meeting will be held in downtown Louisville, KY, at the historic Brown Hotel. The meeting will begin on Tuesday, Feb. 21st, with an optional Dredging 101 short course at 1 PM, followed by an Ice Breaker Reception at 6 PM. On Wednesday, WEDA will
Business & Finance
Mid-Barataria Sediment Diversion project gets $2.26B funding
The Louisiana Trustee Implementation Group (LA TIG), the group of state and federal agencies responsible for overseeing and approving spending Deepwater Horizon natural resource damages oil spill settlement dollars in Louisiana, has approved $2.26 billion in funding for construction of the Mid-Barat
Business & Finance
Major merger announced, Kiewit acquires Weeks Marine
U.S. dredging contractor Weeks Marine has been acquired by Kiewit Corporation of Omaha, Nebraska, one of North America’s largest construction and engineering organizations. The acquisition, which was completed on Jan. 1, 2023, includes the purchase of Weeks Marine and its subsidiaries Healy Tibbitts
Business & Finance
Port of Long Beach dredging project included in the budget
The Port of Long Beach is kicking off 2023 with plenty to celebrate. After years of planning, the port has finally received Federal Authorization for its Channel Dredging Project. On Dec. 23, President Joe Biden signed into law the Water Resources Development Act (WRDA) of 2022, the biennial legisla
Business & Finance
New Lock at the Soo reauthorized in WRDA 2022 at $3.219 billion
The U.S. Army Corps of Engineers, Detroit District New Lock at the Soo Project in Sault Ste. Marie, Michigan, is reauthorized in the Water Resources Development Act (WRDA) 2022 on Dec 23, 2022. The project reauthorization amount is $3.219 billion. This authorization makes it possible for the project
Business & Finance
Funding secured for Phase 4 of the Corpus Christi dredging project
Port of Corpus Christi Ship Channel Improvement Project will receive $157.3 million in federal funding for the last phase of the Channel deepening and widening work. According to the port officials, the Consolidated Appropriations Act of 2023, approved by Congress in December 2022, includes project
Business & Finance
Boskalis reports strong third quarter result
Boskalis has concluded a busy and strong third quarter both from a financial and operational viewpoint. Both quarterly revenue and earning were higher than the quarterly average for the first half year. Also, from an operational standpoint the company’s key divisions – Dredging & Inland Infra and Of