Dredging Firms Play Down Talk Of Contracts

Two Dutch dredging firms played down market talk that they were about to place sizeable shipbuilding contracts with IHC Caland. Dredging and construction firm Ballast Nedam said it was considering ordering a jumbo dredging ship as economic growth in Southeast Asia recovered, "but we haven't approached any shipyards yet," said spokeswoman Nel de Geus. Builder HBG repeated a statement made at its first half results presentation on Sept. 2. "We gave our unit HAM permission to order a jumbo dredger before the end of 1999...from a Dutch ship yard...This could be IHC Caland," HBG spokesman Arno Pronk said. He added HBG would make it public if a contract were signed.