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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 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


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


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.


Ottawa Bars Use of 'Buy America' Rules at Ferry Project in Canada

The Canadian government signed an order on Monday blocking the United States from applying controversial "Buy America" purchasing rules on the demolition and reconstruction of a ferry terminal that is located on Canada's Pacific Coast but operated by Alaska's Department of Transportation


Alaska: No Rush for Canada Ferry Project Resolution

Alaska can use an existing British Columbia ferry terminal for several more years if Canada enforces an order blocking so-called "Buy America" purchasing rules from being applied to its reconstruction, a state official said on Tuesday.


Star Bulk Sells Panamax Bulker for Demolition

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Star Bulk Carriers Corp. has entered into an agreement to sell for demolition the M/V Star Tatianna (ex Fortezza), a 69,600 dwt Panamax vessel built in 1993, to an unaffiliated third party. Star Bulk expects to deliver the vessel to the buyers by early February 2015.


Container Ships: 2014 Saw High and Low Scrapping

Image courtesy: The International Chamber of Shipping (ICS)

The container segment was one of the big surprises during 2014 with a very high scrapping activity in the year’s first half and a dwindling low one in the second, says the Baltic and International Maritime Council (BIMCO)   


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:


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


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


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


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


Jay Cashman Wins Navy Contract

 Jay Cashman, Inc., Quincy, Massachusetts, is being awarded a $14,321,000 firm-fixed-price contract for USS Constitution, Berth 1 pier repairs at Charlestown Navy Yard. This project will provide a safe mooring for USS Constitution and the provision of safe visitor access to the ship


Freight Rate Peak Forecasted for 2016

Newport Shipping Group Chairman Harald Lone said, “Synchronized world economic growth is going to initiate higher demand for dry bulk carriers.”

The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment, with Newport Shipping Group predicting an improved tonnage balance over the next couple of years, resulting in a freight rate peak in the 2016/2017 period.


Asia-Europe Box Rates Drop Almost 21 pct

File Photo: containership underway.

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 20.5 percent to $934 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.


Bulk Carrier Freight Rates Predicted to Peak in 2016

Harald Lone

“A fundamental and sustainable dry bulk market recovery is expected in the second half of 2015 and throughout 2016, when the total dry bulk market balance could peak at 88%, with peaks during the fourth quarter close to 92%. Improved tonnage balance in 2015/2016 should drive up bulk rates


USS Kauffman Deploys for the Last Time

Guided-missile frigate USS Kauffman departs Naval Station Norfolk for its final deployment. (U.S. Navy photo by Laura Hoover)

  The guided-missile frigate USS Kauffman (FFG 59), departed Naval Station Norfolk today for the ship's final deployment and will operate in the U.S. 4th Fleet area of responsibility. Kauffman's final deployment also marks the last scheduled deployment by any Oliver Hazard Perry-Class


Japan to Help Boost Indian Ship Recycling

Pic courtesy: Ship Recycling Industries Association

Japan may help India in boosting the country's ship recycling industry. It is learnt that a 14-member Japanese delegation comprising representatives from government departments and shipping industry association, who visited Alang-Sosiya ship recycling yard in Bhavnagar (Gujarat






 
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