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Waste Business Journal Weekly News Bulletin: Aug. 17-23, 2016

Headlines...

  1. Study Recommends NYC Employ a Zoned Commercial Waste System
  2. US Regulators Finalize Rules on Truck Emissions Limits
  3. Federal Appeals Court Vacates Part of Boiler MACT Standards
  4. Waste Connections Posts Strong Q2 Results
  5. Canada Pension Plan Invests $280 Million in Advanced Disposal
  6. Advanced Disposal Posts Improving Q2 Results
  7. EPA Wants to Use Social Media to Encourage Public Participation in RCRA Permitting
  8. New Jersey Utility Plans More Solar Projects atop Landfills
  9. Clean Harbors Reports Disappointing Second Quarter

 

  1. Study Recommends NYC Employ a Zoned Commercial Waste System

    A study released by the New York City Department of Sanitation (DSNY) and the city's Business Integrity Commission (BIC), says that establishing commercial collection zones for private waste firms would dramatically reduce truck traffic and associated greenhouse gas emissions. It estimates that a zone system could reduce truck traffic associated with commercial waste collection by 49-68 percent and reduce greenhouse gas emissions by 42-64 percent. The study is critical of the city's current open market system which it says lacks "generates excess truck traffic, is highly concentrated among a few carters, has little transparency in pricing and prevents private carting companies from achieving efficiencies that allow investments in recycling initiatives or cleaner trucks."...Read More »

  2. US Regulators Finalize Rules on Truck Emissions Limits

    Regulators announced new standards aimed at cutting greenhouse gas emissions from medium- and heavy-duty trucks by up to 25 percent by 2027. The final Phase 2 greenhouse gas (GHG) rules, issued by the Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA), include new provisions that won support from truck and engine makers, as well as environmental groups. Laid out in 1,690 pages, the rules seek to tighten oxides of nitrogen (NOx) and methane emissions as well as "clarify" the classification of natural gas engines and other gaseous-fueled heavy-duty engines. The rule also includes separate standards for the engines that power combination tractors and vocational vehicles, with EPA-specific hydrofluorocarbon standards to control leakage from air conditioning systems in vocational vehicles. The deal was struck after more than 400 meetings involving regulators, companies and environmental groups and ultimately won the backing of California's AirResources Board, truck and engine manufacturers and environmental groups...Read More »

  3. Federal Appeals Court Vacates Part of Boiler MACT Standards

    A federal appeals court, siding with environmental groups, tossed out part of a contentious air pollution rule for boilers for an improper exemption within the regulation. In its 162-page opinion, the Court of Appeals for the District of Columbia Circuit rejected arguments from industry that the EPA's maximum achievable control technology, or MACT, standards for industrial, commercial and institutional boilers is too strict. A key piece of the decision found that the EPA was wrong to leave certain boiler units with low levels of emissions out of the subcategories it constructed for the rule. The Clean Air Act, the judges wrote, "demands that source subcategories take the bitter with the sweet," and requires "without ambiguity" that all relevant units be kept in a subcategory...Read More »

  4. Waste Connections Posts Strong Q2 Results

    Waste Connections (The Woodlands, TX) posted strong second quarter results with adjusted net income of $93.2 million, or 66 cents per share, compared with adjusted net income of $61.6 million or 50 cents per share in the year-ago quarter. The year-over-year increase in earnings is primarily due to revenues during the quarter. Revenues for the second quarter were $727.6 million, up from $531.3 million a year ago, The top line was driven by 46.7% growth in the solid waste collection segment which was $501.2 million, up from $341.6 million last year. Disposal and transfer revenues were up to $160 million from $107.1 million in the prior-year quarter. Recycling revenues improved to $16.7 million from $12.1 million a year ago. During the quarter the company completed its merger with Progressive Waste Solutions Ltd. The deal expands the company's operational footprint and consequently is expected to enhance its financial profile...Read More »

  5. Canada Pension Plan Invests $280 Million in Advanced Disposal

    Advanced Disposal (Ponte Vedra, FL) has received an investment of $280 million from Canada Pension Plan Investment Board (CPPIB) in the form of convertible preferred equity of its owner entity Star Atlantic Waste Holdings II L.P., an investment partnership sponsored by Highstar Capital. The investment should pave the way for Advanced Disposal to move ahead with its previously planned initial public offering (IPO), hoping to raise as much as $471 million. It was postponed earlier this year due to what the company considered to have been unfavorable market conditions. The company's owner Highstar was itself purchased by Oaktree Capital Group in June 2014. It is likely that Oaktree is accelerating the process in order to monetize its portfolio of acquired assets. If the IPO commences, CPPIB's preferred equity will be converted into common stock. Michael Koen, senior principal, relationship investments of CPPIB has been appointed to the Board of Directors of Advanced Disposal...Read More »

  6. Advanced Disposal Posts Improving Q2 Results

    Advanced Disposal's second quarter financial results showed growth in pricing and volumes. Second quarter revenue grew by 2 percent to $358.2 million versus $355.2 million a year ago, driven by core disposal volume that increased 5% on a tonnage basis year over year. Net income also increased to $0.2 million from a net loss of $8.5 million a year ago. Core pricing growth of 1.7 percent was especially strong in the commercial and rolloff business which grew between 3.1 and 3.9 percent. Accordingly, EBITDA margins increased 1.2 percent from the prior year quarter helped by lower workers' compensation claim costs resulting from improved safety and fleet automation. Going forward, the company says its focused on safety and providing an excellent customer service along with controlling costs, demonstrating price discipline, and closing on accretive tuck-in acquisitions in key markets...Read More »

  7. EPA Wants to Use Social Media to Encourage Public Participation in RCRA Permitting

    The EPA is seeking public comment to increase public participation in Resource Conservation & Recovery Act (RCRA) permitting decisions, including how to use social media. The draft 2016 RCRA Public Participation Manual includes current regulations, policies and practices, as well as presenting "new information about technical assistance, environmental justice, social media, and other topics that have come to the forefront since the 1996 edition." When the 1996 edition was published, the focus was on issuing RCRA permits, but today, the majority of hazardous waste management facilities are already permitted, and permit maintenance and modifications now account for most of the permitting activity today, EPA says...Read More »

  8. New Jersey Utility Plans More Solar Projects atop Landfills

    New Jersey utility Public Service Electric and Gas Company (PSE&G) has filed a request with New Jersey regulators to expand its Solar 4 All program to build another 100 MW of solar photovoltaic (PV) projects on about 10 landfill and brownfield sites over four years. The ‘Extension II Program' will require an investment of $296 million over a five-year period to cover construction and operation of the projects. Like many utilities, PSE&G prefers utility-scale PV such as those it is building on these waste sites, since they tend to be 40% less expensive than typical residential net metering projects. The proposal also aligns with the New Jersey Energy Master Plan, which encourages the installation of solar panels on properly closed landfills and remediated brownfields...Read More »

  9. Clean Harbors Reports Disappointing Second Quarter

    Clean Harbors (Norwell, MA) reported somewhat disappointing second quarter results. Revenues for the quarter dropped to $697.5 million from $936.2 million last year. Last year's second quarter included $170 million in emergency response activity. Net income fell to $3.96 million, or $0.07 per share, from $10.39 million, or $0.18 per share last year. Adjusted for Unbenefited tax losses from its Canadian subsidiaries, net income in this year's second quarter was 8.4 million or $0.15 per share. The company also announced plans to divest its non-core industrial services business which generated revenue of $55 million in 2015 which is expected to fetch $50 million. Looking ahead, the company is optimistic that its new hazardous waste incinerator in Arkansas will be operational by year's end...Read More »

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