Highlights of the Week
- Business & Finance
Subsea World News has put together a recap of the most interesting articles from the previous week (February 08 – February 13).
Starting in March, senior management will see their pay lowered by 10 percent while the remainder of the staff will see reductions of 5 percent. The adjustments will be reviewed after 12 months.
According to Aibel, about 100 Aibel workers are engaged on the vessels’ several modification tasks. The assignments on North Sea Giant should be wrapped up by the end of February.
The fields are located in Mississippi Canyon, offshore New Orleans, in the Gulf of Mexico, in approximately 2,000 meters of water depth.
The company said it will implement an internal solution and adjust the management structure accordingly, if required.
According to the charter party the contract period would expire 30 September 2016. Volstad Shipping said it strongly disagrees with DeepOcean AS and has in consultation with its legal advisors rejected the termination as without merits.