Latest news with #dredging
Yahoo
4 days ago
- General
- Yahoo
Virginia Beach approves filling of borrow-pit despite residents' concerns
VIRGINIA BEACH — In a 9-0 vote Tuesday, the City Council approved a permit modification that will allow the city to fill a human-made lake with dredged material. Councilman Worth Remick, who represents the district, made the motion to approve it. Vice Mayor Rosemary Wilson and Councilwoman Jennifer Rouse were absent. The Department of Public Works plans to dump dredged material from navigation channels and stormwater projects into the lake. The approval came after nearly a dozen people including neighboring residents spoke against the plan citing concerns about water contamination, flooding and impact on wildlife. 'Filling this pond is a short-term solution that creates long-term problems,' said Lisa Johnson, a representative of the Virginia Chapter of the Surfrider Foundation, an environmental organization. The lake, on the east side of Oceana Boulevard across from Naval Air Station Oceana, was formerly a borrow-pit for sand. Rainwater filled it, transforming the site into an oasis for migratory birds and other animals. In 2016, the City Council approved the purchase of the property for the 'deposit of dredged spoils,' according to a city resolution. Filling the lake with dredged material is not expected to increase flooding in the area because it will become more pervious, City Engineer Toni Utterback told the City Council last week. Public works will test and remove contaminants from the material before it's dumped, according to the city. The department has also installed three monitoring wells on the site and plans to build a 2-foot berm around the eastern end of the lake to protect adjacent properties along Birdneck Road. Councilman Stacy Cummings said Virginia Beach is obligated to provide a place for dredged material. 'We have to dump it somewhere, and this site works perfectly for that purpose,' he said. Stacy Parker, 757-222-5125,
Yahoo
4 days ago
- Business
- Yahoo
Great Lakes Dredge & Dock (GLDD) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Great Lakes Dredge & Dock (GLDD) closed at $11.58, marking a -1.53% move from the previous day. This move lagged the S&P 500's daily loss of 0.84%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq depreciated by 0.91%. Shares of the provider of dredging and dock-contracting services have appreciated by 5% over the course of the past month, outperforming the Construction sector's loss of 0%, and the S&P 500's gain of 1.44%. Investors will be eagerly watching for the performance of Great Lakes Dredge & Dock in its upcoming earnings disclosure. The company is expected to report EPS of $0.08, down 27.27% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $174.33 million, indicating a 2.49% growth compared to the corresponding quarter of the prior year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.96 per share and revenue of $816.02 million. These totals would mark changes of +14.29% and +6.99%, respectively, from last year. Investors should also note any recent changes to analyst estimates for Great Lakes Dredge & Dock. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Great Lakes Dredge & Dock boasts a Zacks Rank of #1 (Strong Buy). Looking at valuation, Great Lakes Dredge & Dock is presently trading at a Forward P/E ratio of 12.29. This represents a discount compared to its industry average Forward P/E of 20.6. One should further note that GLDD currently holds a PEG ratio of 1.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Building Products - Heavy Construction industry had an average PEG ratio of 1.38 as trading concluded yesterday. The Building Products - Heavy Construction industry is part of the Construction sector. With its current Zacks Industry Rank of 3, this industry ranks in the top 2% of all industries, numbering over 250. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Great Lakes Dredge & Dock Corporation (GLDD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
BBC News
4 days ago
- Sport
- BBC News
Durham Regatta crowdfunding appeal to dredge River Wear
Regatta organisers are looking to dredge a river, after low water levels damaged Regatta competitors reported boats hitting the river bed and fins being broken off as they made their way along the River said they had permission to carry out dredging to alleviate the effects of silt accumulating in the river, but they needed about £125,000 to reach their funding target to pay for the work by a private hope to raise the money by crowdfunding. The Environment Agency has been contacted for comment. The 192nd Durham Regatta was held at the weekend, with thousands of visitors flocking to the van Zwanenberg, who has organised the regatta over the years, said future events on the river were in jeopardy."We wouldn't want to lose it," he said. Mr van Zwanenberg said: "In hot summers there will not be enough water to row."You would be able to walk your dog across."At this year's event, competitors said the water was "very shallow".Durham University rower Jacob Popoff said his team's boat had come in contact with the bottom of the river, and that their fin was Thompson from Lambton Rowing Club added that dredging would also benefit rowing clubs further down the river. Follow BBC North East on X, Facebook, Nextdoor and Instagram.
Yahoo
09-06-2025
- Climate
- Yahoo
Dredging begins this week in South Haven
SOUTH HAVEN, Mich. (WOOD) — You may see cranes, barges and boats at the South Haven pier heads this week as dredging begins. If weather permits, Pero Marine will start the process Monday and work through Thursday. Sand will also be added to South Beach. Lake Michigan Summer Beach Guide The dredging is meant to reopen the channel for traffic, protect the shoreline, make it more resilient and improve the beach, the city said. Dredging equipment, cranes, barges and boats will be in the water as well as heavy machinery onshore at South Beach. There will be more trucks driving on Water Street and at South Beach during the project. South Haven advised people to keep distance from active work zones and follow instructions posted on signs and given by staff. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBC
28-05-2025
- Business
- CBC
Planning to dredge the Burrard Inlet to maximize oil shipments is underway
An ocean pollution researcher and at least one First Nation are raising concerns about the Vancouver Fraser Port Authority's (VFPA) plan to dredge the Burrard Inlet. Dredging is when the bed of a body of water is dug out to make way for ships or for construction or cleaning purposes. Ocean researcher Juan José Alava told CBC's On The Coast that periodic dredging is common for navigation maintenance in the Inlet. However, he says he was surprised to hear that the port is planning to dredge for the purpose of maximizing oil tanker capacity. The VFPA plan is to maximize oil shipments from the port. Currently, Aframax tankers, a specific size of oil tanker, with a deadweight ranging from 80,000 to 120,000 metric tonnes, can carry loads up to 80 per cent, with the goal of increasing capacity to 100 per cent. However, doing so carries the risk of hitting the sea bottom. According to Alava, another risk is environmental harm. Alava is the principal investigator for the Ocean Pollution Research Unit at the University of British Columbia, and says that this development is deeply concerning because of the potential effect on water quality, aquatic life, and First Nations culture in the area that is dependent on the Inlet and the Second Narrows channel. "At what environmental cost, for a single tanker, do you want to dredge the Burrard Inlet? What about the First Nation communities that are living there?" He says that as a scientist who studies marine toxicology, the risk of dredging to increase oil tanker capacity can have a drastic impact on the environment if there is an oil spill, citing lessons learned from the Exxon Valdez southern Alaska spill 36 years ago. Alava says that you can still find oil remnants in B.C. from that spill today, so environmental impact assessments and Indigenous consultation are necessary. Tsleil-Waututh Nation's Chief, Jen Thomas, said in a written statement on May 8, that no formal engagement has happened about dredging the Burrard Inlet that runs past the nation. Thomas says that the nation firmly opposed the Trans Mountain Expansion Project, adding that the Government of Canada built it despite the nation's informed decision not to consent to the project. "Tsleil-Waututh has a sacred, legal obligation to protect, defend and steward our Inlet. We hold inherent and Constitutionally-protected Indigenous title and rights to this area." Under UNDRIP, the B.C. government has a duty to obtain free, prior and informed consent from First Nations when pursuing projects in their territories. Thomas says that the nation will have more to say about the matter once it reviews the proposal and says that it looks forward to meeting with agencies in the future about any projects that may affect Tsleil-Waututh Nation rights and title. Despite concerns from environmentalists and First Nations, B.C. Energy and Climate Solutions Minister Adrian Dix is supportive of the project, pending it meeting environmental assessment and consultation requirements with First Nations. In a report from the Canadian Press released on May 11, Dix says that the province spoke with the Tsleil-Waututh Nation before expressing views about the project to the federal government. The plan, floated by Prime Minister Mark Carney in early May, comes at a time when Canada is looking to diversify energy exports away from the United States. Dix stressed that the dredging would be a federal project, not provincial and that the project "would allow for less traffic at the port and better utilization" because ships could fully load. The dredging project's preliminary stages of environmental assessment and First Nation consultation began on May 20.
