Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (March 09 – March 15).
Fugro said it received a writ of summons from Boskalis to force a shareholder vote at its annual shareholders meeting scheduled for April 30, 2015 on a recommendation in respect of one of Fugro’s three protective measures, i.e. the Foundation Continuity Fugro (“Stichting Continuïteit Fugro”).
“Fugro is disappointed by the position of Boskalis and opposes the action taken by Boskalis. This legal action is neither justified nor in the interest of Fugro’s stakeholders, and there is no legitimate interest for Boskalis given its repeated and explicit public statements that its holding in Fugro is not a step towards making an offer for Fugro,” the company said in a statement.
The seabed-to-surface engineering contractor revealed it had recognised a prospect to reduce its fleet by 10 vessels, over a two year period, through release of charter vessels and disposal of owned vessels.
Reef Subsea UK, operating from a head office in Stockton-On-Tees, County Durham with vessel mobilisation at the Port of Blyth, Northumberland, has fallen into administration resulting in the loss of 43 jobs.
Dan Butters and Adrian Berry of Deloitte, the business advisory firm, were appointed administrators to Reef Subsea UK March 3, 2015. According to Deloitte, Of the 70 employees, 16 were given notice prior to the administrators appointment, and a further 27 redundancies have since been made.
Amongst the 5 years special survey other significant upgrades have been implemented related to the communication network, videorecording and distribution, power outlets on deck eliminating generators on deck, galley/messroom improvements and a new gangway. Furthermore, the vessel has been repainted in fresh Boskalis colors and Royal Boskalis logo.
Joseph Leroy, Vice President Supply Chain Management of Subsea 7, and Hermann Butting, president of BUTTING, signed the agreement for an initial term of three years.