Subscribe to RSS feedBig four dredgers looking on anxiously as Gulf feels pinch
by
Obsidian
—
last modified
Jan 08, 2009 12:00 AM
The dredging industry has been hit by a double whammy — the global financial crisis plus the crash in the price of oil.
While the main dredging contractors have limited exposure to oil exploration and extraction, the petrodollars generated by its price surge funded a massive spending spree, particularly in the Middle East Gulf nations. Saudi Arabia, for instance, forecasts a revenue of...
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