Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies
U.S. President Donald Trump on Saturday said India will buy Venezuelan oil, helping to replace some of the Russian oil that the world's third-biggest oil importer buys. "We've already made that deal, the concept of the deal," Trump told reporters aboard Air Force One as he traveled to his vacation home in Florida from Washington.
The National Transportation Safety Board said on Tuesday that a loose wire led to a power failure on the cargo ship Dali that crashed into Baltimore's Francis Scott Key Bridge in March 2024, killing six people and wrecking the bridge.The NTSB is holding a hearing in Washington to determine the probable cause of the incident that killed six construction workers on the bridge.
Moran Towing Corporation acquired Bisso Towboat Co, as it aims to accommodate growing needs of New Orleans and the Lower Mississippi River communities.Moran was founded in 1860 and is privately owned and operated. It offers ship assist services in 17 ports along the U.S. East and Gulf Coasts and has operated in New Orleans since 2006.
A large buildup of U.S. naval forces in and around the Southern Caribbean has officials in Caracas and experts in the United States asking: is the move aimed at combating drug cartels, as the Trump administration has suggested, or is it for something else entirely?Seven U.S. warships, along with one nuclear-powered fast attack submarine, are either in the region or are expected to be there soon
CK Hutchison's plan to sell most of its $22.8 billion ports business is unlikely to be finalised anytime soon, with political brinkmanship set to continue, and sources saying that a Sunday deadline for exclusive talks was likely to be extended.The Hong Kong conglomerate's plan to sell the business, which would include two ports along the strategically important Panama Canal
The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi Aramco’s suspension of over 30 jackup contracts by up to one year, the entry of newbuild rigs into the market without work to go to
Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.China's retaliation intensified the economic turmoil unleashed by Trump's tariffs
The Trump administration imposed sanctions on Iranian oil trading networks on Thursday, including on a China-based crude oil storage terminal linked via a pipeline to an independent refinery, just days before direct talks between the U.S. and Iran.The sanctions came after Secretary of State Marco Rubio said the U.S. will hold direct talks with Iran on Saturday in Oman.
We are at the one-year since the Francis Scott Key (FSK) Bridge collapsed over the Patapsco River’s Fort McHenry Channel in Baltimore, Maryland. Nearly 100 percent of the wreckage and debris removal was conducted by the Jones Act private sector U.S. maritime industry. The FSK collapsed at about 1:28 a.m.
The U.S. National Transportation Safety Board (NTSB) has recommended that 30 owners of 68 bridges across 19 states conduct a vulnerability assessment to determine the risk of bridge collapse from a vessel collision.The recommendation comes as part of the ongoing investigation into the collapse of the Francis Scott Key Bridge in Baltimore.
The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.The announcement comes as U.S.