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Vessel Demolition

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. “Our dredging segment won $346 million or 62% of the domestic bid market through the first six months of 2013. This win rate, driven by the award of the first phase of the PortMiami project and capturing 63% of the coastal protection market, sets the stage for a busy second half of this year and into 2014. Our Terra Contracting and Rivers & lakes teams have commenced working together on a project in the Midwest valued at approximately $30 million. We also began execution on two of the larger projects in our demolition segment backlog, with one scheduled for completion in 2013 and the other continuing into next year. “We are making structural changes within the organization to bring more operational skills into executive leadership. We continue to focus on our NASDI subsidiary in our demolition segment. We are also upgrading our project management capabilities


Donjon Welcomes New Tug, Caitlin Ann

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On August 1, 2011, Donjon added the 2400-HP-class tug Caitlin Ann to its growing fleet to support the company’s dredging, marine salvage, bulk material transportation and marine demolition services. The addition of the Caitlin Ann increases the Donjon towboat fleet to 14 total vessels ranging from 1200 to 7000 horsepower.  In addition, Donjon also owns and operates five derrick barges with a maximum capacity of 1,000 tons, more than 40 deck and hopper barges


Tanker Scrappings Up As Second Quarter Demolitions Rise

Tanker scrapping reportedly shot up while the disposal of bulk carriers diminished as the total deadweight tonnage of ships sold for demolition rose by five percent in the second quarter of this year from the first quarter.


Orion Announces $20 Million Contract Award

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Orion Marine Group, Inc. (NYSE:ORN), a marine contractor serving the infrastructure sector, announced  May 15, 2012 a contract award of approximately $20 million. Orion Marine Group was recently awarded a contract for the demolition and rehabilitation of an existing wharf structure on the Lower Mississippi River for a private customer. Onsite construction of the project is expected to commence in the second quarter and last approximately 12 months


Tanker Rates Expected To Rise In Year's First Half

Large tanker rates will increase during the first half of 2000 but freight prices will ease in the second period as new VLCCs are delivered, Norwegian shipbroker P.F. Bassoe A/S & Co. said. Bassoe predicts that tanker demand will increase by 2.6 percent over 2000 on the basis that OPEC output restraints would remain in place until March 2000 and a gradual production increase will follow. Increased crude exports would be driven by rising Asian demand and a slight increase in U.S


Captain Convicted of Dumping Asbestos

A Federal Jury found Ronald Cook, a Canadian citizen, guilty of illegally dumping trash bags full of asbestos into the Gulf of Mexico and elsewhere. He had been hired to lead a crew performing demolition on an old ferry boat, the Muskegan Clipper, as it sailed from San Diego, California, through the Panama Canal to Mobile, Alabama. The ship was eventually to be transformed into a riverboat gambling casino. In order to save time and costs, the crew bagged up the demolition debris


Ship Recycling Prices Plunge 25%

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Demolition Prices for elderly ships have fallen by a quarter in 2012 to date, and owners are encouraged to dispose of recycling candidates sooner rather than later, says Mark Williams of Braemar Seascope. Addressing the 7th Annual Ship Recycling Conference in London on 19th June, the Braemar Seascope Research Director told delegates that deflating international steel prices were likely to translate into lower offers for recycling tonnage in the coming quarters.


Durbin: Demolition of Rock Pinnacles Could Begin Next Week

File: Inland pushboat and barges.

At the request of Midwest Senators, Army Corps fast tracked process to keep water and goods moving on the Mississippi River. U.S. Senator Dick Durbin (D-IL)  praised the news that a contract has been awarded for the demolition of rock pinnacles in the Mississippi River and the work could begin as early as next week.  In a November 29 meeting with Durbin and five other Midwest Senators, Assistant Secretary of the Army for Civil Works, Jo-Ellen Darcy


If in Doubt, Ask the Doctor: Is it Time to Buy?

Capt. Kaizad Doctor, PhD,

Trends in asset prices are generally important for vessel owners, banks who lend against them as well as commercial interests who make opportunistic acquisitions in times of depressed asset values. These trends however are for generic vessel types which are generalized from realized data consisting of actual sale and purchase (S&P) activity. We choose three representative vessel size categories from the dry and wet markets respectively and one size category from the Liquefied Petroleum Gas


Diana Containerships Vessel Sold for Scrapping

Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, announced that it has signed, through a separate wholly-owned subsidiary, a memorandum of agreement to sell to an unaffiliated third party the 1995-built vessel APL Sardonyx (to be renamed Sardonyx) for demolition, with delivery due to the buyers by the end of February, 2014, for a sale price of approximately $10 million (USD) before commissions.


3rd India Ship Recycling Conference Set to be a Big Draw

Delegate registeration for the 3rd India Ship Recycling Conference is going on at a hot pace with a lot of interest having generated with the new Indian Government coming up with a robust growth policy for the Indian Maritime sector. In fact most of the world's ship recycling activity takes place


MN 100: Donjon Marine Co., Inc.

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100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812  Email: info@donjon.com Website: www.donjon.com President & CEO: J. Arnold Witte The Company: Donjon Marine Co., Inc. offers the marine community full-service solutions to meet every need in the field of marine


BIMCO: Peak Container Season Starts Strong

Peter Sand, BIMCO Chief Shipping Analyst

Container Shipping: The peak season is off to a good start and the balancing act in the freight market is as important as ever Demand The demand side continues to improve on a global scale. The winter weakness in the US and still-sluggish demand in Europe has been offset by continued strong


Paris MoU Posts Performance Highlights

A St Kitts & Nevis-flagged vessel at home port and capital Basseterre

Following a three-year record of improved results from Port State Control (PSC) inspections, the London-headquartered St Kitts & Nevis International Ship Registry (SKANReg) has moved up to Grey List ranking on the Paris MoU performance lists covering Europe and the North Atlantic


GLDD Report Solid Q2 2014 Dredging Sector Performance

Dredger: Image courtesy of GLDD

Great Lakes Dredge & Dock Corporation (GLDD) the largest provider of dredging services in the United States and a major provider of environmental and remediation services, has reported financial results for the quarter ended June 30, 2014, excerpted as follows:


Repowered Tug Tows Nonstop

Photo courtesy Laborde

For its third repower with Smith Maritime, Laborde supplied three Mitsubishi S12R-Y2MPTK Tier II engines rated at 5,000 hp for the tug Rhea. For its maiden voyage, Rhea towed a huge piece of oilfield equipment from Texas to Cape Verde Islands off of Africa before moving on to Nigeria


Costa Concordia Arrives Genoa for Demolition

Costa Concordia moored Genoa: Photo courtesy of TITAN Salvage

Crowley Maritime Corp. subsidiary TITAN Salvage and project partner Micoperi has confirmed that the Costa Concordia – the Concordia-class cruise ship that wrecked off Giglio Island, Italy in January 2012 – is safely moored at the Port of Genoa Voltri, Italy


Concordia Finally Heads for Scrapyard

Photo courtesy of The Parbuckling Project

The rusty hulk of the Costa Concordia began its journey to the scrapyard on Wednesday, after a two-year salvage operation off the Italian island where the cruise liner capsized two years ago, killing 32 people. Boats sounded horns and church bells rang as a tug boat slowly pulled the wreck of


Costa Concordia: Operations to Tow the Wreck Begin

Costa after righting: Photo courtesy of the salvors

Maneouvres began early on Wednesday to remove the rusty hulk of the Costa Concordia cruise liner from the Italian island where it struck rocks and capsized two years ago, killing 32 people. A convoy of 14 vessels, led by the tug boat Blizzard


Concordia Wreck Preparing for Tow to Genoa

In three weeks, the Costa Concordia wreck will be towed to Genoa for demolition and recycling. (Photo courtesy of the Parbuckling Project)

In three weeks, the Costa Concordia wreck will be towed to Genoa for demolition and recycling. At the end of the Conferenza dei Servizi meeting held yesterday, June 25, in Rome, Costa Crociere reaffirmed the motivations for the choice of the transportation of the Concordia wreck in Genoa for


Suspected WWII Sea Mine Found off Kiribati

Suspected Explosive Remnant of War was discovered in late May near the main wharf in Betio Lagoon, South Tarawa in the Republic of Kiribati, beneath the wreck of the MV Tovota by salvage workers from The Dive Centre Pty Ltd Fiji. The Australian Defense Force has been requested by Kiribati authorities to dispose of the object as it poses a potential hazard to local shipping.

A team of Australian Defense Force (ADF) personnel has headed to the Pacific Island nation of Kiribati to dispose of a suspected World War II sea mine. The object was discovered beneath a sunken vessel that is being salvaged by commercial operators in Betio Lagoon, South Tarawa.


Jurong Port Upgrading Terminal Berths

Jurong Port

  Works are underway to upgrade Jurong Terminal Berth J10 & J11 is currently underway until 22 November According to the Maritime and Port Authority of Singapore Port Marine Notice No. 72 of 2014 dated 21 May 2014, the works will be conducted 24 hours daily - including Sundays &


Ship Scrapping Increases, but in Wrong Trades

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Although the number of vessels being scrapped this year has increased dramatically, and looks set to continue rising, it is having little impact on the current excess of supply over demand where it matters most – in the East-West trades


China COSCO Scrap Seven Ships

A COSCO bulker: Image COSCO

China COSCO Holdings inform that in accordance with its plan to streamline its fleet it sent 7 vessels for demolition in April 2014. Details as follows: The scrapped ships were the container ship Dahe, and six bulk carriers (Feng Guanghai, Tian Changhai, Fuqiang, Leyuan, Fuyou and Lehuan).


Repowered Tug Tows 7 Weeks Nonstop

Photo courtesy Laborde

When business depends on commercial vessels, it's essential for these boats to stay in good condition. Unreliable engines and equipment can lead to days or weeks off the water for repairs, resulting in lost customers. To ensure its fleet is always prepared for the job






 
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