McDermott hit by weaker profit on offshore projects [source: MarketWatch]: Engineering and construction company McDermott International reported late Wednesday a sharp drop in third-quarter earnings, hit by shrinking profit in its offshore oil and gas business. For the three months ended Sept. 30, Houston-based McDermott posted net income of $85.6 million, or 37 cents a share, down from $140.4 million, or 61 cents, in the year-ago period. The company said most of the decline was seen in its offshore projects, especially underwater pipeline work for Middle East clients. This offset strong results for the company's power and generation systems and government operations divisions. continue reading Boskalis sees higher 2008 profit, but shares dip [source: Reuters]: Dutch dredger Boskalis Westminster NV expects 2008 net profit to come in at the high end of its range, it said on Wednesday, but its shares fell as some investors had hoped that it might raise its forecast. Its full-year net profit is now expected to rise by 15 percent, compared with the forecast range of 10 to 15 percent announced in August, Boskalis, the world's largest dredger, said in a statement. continue reading Major Mexican contract awarded to Jan de Nul [source: Dredging News Online]: Mexicana De Dragados SA de CV, the Mexican branch of the Jan De Nul Group, has signed a contract with the port authorities of the Mexican Pacific ports of Ensenada, Mazatlan and Manzanillo for dredging work at the ports. Signed on October 24th, the contract has a total value of Euros 48 million. continue reading Technorati Tags: Jan de Nul McDermott Offshore Dredging Boskalis