Highlights of the Week
- Business & Finance
Subsea World News has put together a recap of the most interesting articles from the previous week (September 26 – October 02).
According to Finish media, layoffs for 288 yard workers should begin from October 17, while the rest 188, including office staff and managers, will be laid off from the end of the same month. The layoffs are said to be temporary, and if new orders do come in some of the layoffs will be reversed.
The C.S. Dependable, in transit between work sites, came across the fisherman clinging to floating debris and treading water, and all hands were called to enact an immediate water rescue.
With the framework agreement the companies agreed to mutually unwind the joint ventures in Berlian McDermott Sdn Bhd (BMD) and THHE Fabricators (THF).
According to the Oslo-listed company, start of the contract will take place during Q4 2016. Total has option to extend the contract by 6 x 2 months periods.
Through the acquisition of existing shares from Ezra and Chiyoda, NYK now holds a 25% equity interest in ECS. Ezra and Chiyoda retain their respective 40% and 35% shareholding in ECS.