Search results for: Cost Savings

175333 results

A list of search results

  • 20 March 2018
    Business & Finance, Human Capital

    Vattenfall is planning to terminate approximately 1,500 full-time positions in the next phase of the previously announced cost-saving program.

  • 24 September 2006


  • 21 April 2016
    Business & Finance

    As a result of the weak market situation, Helsinki-listed Wärtsilä Corporation has announced today its plans to cut approximately 550 jobs – of which 270 in Finland – in order to achieve annual savings of EUR 50 million (approx USD 56.4 million).  The company says its decision to realign the organization, operations and resources will mainly affect […]

  • 20 February 2018
    Business & Finance

    Great Lakes Dredge & Dock Corporation (GLDD) today announced financial results for the last quarter of 2017, reporting revenue of $191.7 million and net loss from continuing operations of $8.8 million. “Excluding the charges relating to our previously announced restructuring, for the three months ended December 31, 2017, Great Lakes reported net income from continuing […]

  • 9 January 2015
    Business & Finance

    The Board of Norwegian shipping company Odfjell has approved a restructuring plan which will see cutting of 86 jobs in the company’s office in Bergen.

  • 19 June 2014
    Business & Finance

    More than 20 percent of all machinery claims, as well as catastrophic failure, off-hire and repair costs are caused by misalignment – the cause of almost all propulsion train damages. And it is even getting worse as modern ship design pushes the envelope. However, a Swedish and Dutch invention provides a total elimination of misalignment […]

  • 18 December 2012
    Business & Finance

    In advance of International Maritime Organisation’s (IMO) ship energy efficiency management plan (SEEMP) legislation becoming mandatory from January 2013, Finnish shipping company Bore has announced the results of its trial of electronic SEEMP software, which has verified a 5.8% reduction in fuel consumption. The company’s 89-day sea trial of the NAPA for Operations SEEMP software, […]

  • 29 November 2013
    Business & Finance

    Fleet management solutions are designed to help you cut costs associated with maintaining vessels by streamlining workflow. FleetPlan manages risk, warranties, and supports the management of facility. HMC’s FleetPlan optimizes the planning of fleet to reduce the downtime and makes efficiently decisions. The current competitive market demands efficient operation at all times and rapidly develops […]

  • 2 April 2020
    Business & Finance

    Houston-based oil and gas company Apache Corporation has revealed it would be making greater cost reduction in 2020 than previously anticipated.

  • 22 May 2014

    Scotland’s Energy Minister, Fergus Ewing has announced that the first leg of a project in Orkney funded by the Scottish Government has demonstrated the potential for considerable cost savings using the capabilities of smaller support vessels in the marine renewables industry. The Orkney Vessel Trials project, which has been facilitated by Orkney consultancy Aquatera Ltd, […]

  • 28 April 2014
    Business & Finance, Equipment

    Implementation of the DNV-OS-E406 requirements has become a costly task for oil and shipping companies. Norsafe Group has introduced a davit refit solution that generates significant financial savings when davit and lifeboat replacements are necessary. “Norsafe’s engineering team has developed a davit cassette adapter that makes it possible to use the new free-fall lifeboats without […]

  • 15 December 2017
    Business & Finance

    MacGregor has finalized the statutory cooperation negotiations regarding its planned cost saving measures.

  • 22 May 2014
    Business & Finance, Research & Development

    Scotland’s Energy Minister, Fergus Ewing, has announced that the first leg of a project in Orkney funded by the Scottish Government has demonstrated the potential for considerable cost savings using the capabilities of smaller support vessels in the marine renewables industry. The Orkney Vessel Trials project, which has been facilitated by Orkney consultancy Aquatera Ltd, […]

  • 10 November 2017
    Business & Finance

    Pressured by increased fuel costs and low freight rates, South Korean shipping company Hyundai Merchant Marine (HMM) continued to deliver net and operating losses in the third quarter. The company’s net loss for the quarter ended September 30 stood at KRW 60.3 billion, marking an improvement from a net loss of KRW 173.7 billion reported […]

  • 13 February 2015
    Business & Finance

    The Randle Reef project partners have announced that a path forward has been established for the project. In the summer of 2014, extensive consultation occurred with industry experts to determine options to advance the project within the current budget envelope. After careful consideration of all information received from industry, the project partners have identified modifications […]

  • 15 September 2015
    Business & Finance, Equipment, Operations & Maintenance, Research & Development

    DNV GL is launching two joint industry projects (JIPs) to investigate affordable composite components for the subsea sector and qualify technology for more efficient linepipe production processes. It is estimated that the JIPs could deliver a combined saving of £6.75 million. The DNV GL Affordable Composites for the oil and gas industry JIP aims to […]

  • 26 January 2016

    Wood Mackenzie’s mid-year prediction that only ‘a handful’ of major projects would make financial investment decision (FID) approval in 2015 proved close enough – only a few large upstream developments achieved the green light during the year, Wood Mackenzie, a global energy consultancy provider, said on Monday.  The impact of the continued low crude price has […]

  • 3 April 2020
    Business & Finance

    Tullow Oil has identified further cost savings while its lenders have approved its credit facility with a $1.9 billion of debt capacity.

  • 29 September 2016
    Business & Finance

    UK’s ship owner and operator Union Maritime (UML) has secured a deal with Pacific Green Technologies Marine (PGTM) to pay for an emissions control system through the cost savings it delivers. The arrangement involves PGTM fitting the ENVI-MarineTM emissions control system (scrubber), worth USD 1.9 million, free of charge to Union Maritime’s 13,000 dwt chemical tanker Westminster […]

  • 9 November 2017
    Business & Finance

    MacGregor, part of Cargotec, has informed that it could lay off some 190 employees globally as part of its plans to achieve annual cost savings of around EUR 13 million. MacGregor, which employed globally 1,876 persons at the end of September 2017, said that the measures are estimated to affect especially the operations in Norway, […]

  • 4 May 2018
    Business & Finance, Equipment, Operations & Maintenance, Research & Development

    DNV GL is launching the second phase of a joint industry project (JIP) to develop a design guideline that complements current pipeline codes and standards. Phase 1 of the project has now completed and involved ShawCor LLC, McDermott, PAPE Engineering, Saipem, SVAP, Wasco, and Technip FMC. This developed numerical and analytical approaches to better understand […]

  • 28 March 2016
    Business & Finance, Equipment, Operations & Maintenance

    The largest provider of subsea equipment to the industry, FMC Technologies, could see its 2016 Subsea revenue slashed by up to $1 billion as analysts forecast a very challenging year for the oilfield service and equipment market. The Houston-based company estimates its 2016 Subsea revenue at about $3.6 billion versus last year’s revenue of $4.5 billion (71% of […]