Search results for: provision

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  • 26 August 2016
    Business & Finance

    Due to the severe deterioration in the shipping markets during the first half of 2016, German shipping bank Norddeutsche Landesbank (Nord/LB) increased its risk provisioning from ship financing as it closed the first half of the year with earnings before taxes of minus EUR 364 million (USD 410.9 million). The increase in the risk provisioning is also partly due […]

  • 19 September 2016
    Business & Finance

    Tonnage provision and forecast cargo share for the specialised reefer ships will continue to reduce in coming years, but these ships will keep carrying a disproportionate share of the reefer cargo, according to shipping consultancy Drewry. Specialised reefers last year provided just 5% of the world’s reefer capacity, but carried over 23% of the cargo as the specialised mode’s […]

  • 11 October 2016
    Business & Finance

    German ship lenders are facing increasing risks from the prolonged global shipping industry crisis, with their exposure to the industry remaining significantly higher than that of their European and many global peers, according to a report from Moody’s rating agency. “We believe that Bremer Landesbank Kreditanstalt Oldenburg GZ (BremerLB), DVB Bank S.E. (DVB), HSH Nordbank […]

  • 24 November 2016
    Business & Finance

    Due to a further increase in risk provisioning for ship finance, the German shipping bank Norddeutsche Landesbank (Nord/LB) concluded the first nine months of financial year 2016 with a consolidated loss before taxes of EUR 624 million (USD 659.3 million). Namely, the bank is reacting to the further intensification of the global shipping crisis over the course […]

  • 6 April 2017
    Business & Finance

    As a result of a huge increase in the risk provisioning for ship financing, German shipping bank Norddeutsche Landesbank (Nord/LB) closed the financial year 2016 with a loss of EUR 1.9 billion (USD 2.02 billion). Overall the group set aside EUR 2.94 billion for ship financing risks in 2016, after EUR 840 million in the previous year on […]

  • 30 September 2015

    Frank J. Macchiarola, executive vice president for government affairs at America’s Natural Gas Alliance, commented on the inclusion in the manager’s amendment to the North American Energy & Infrastructure Act (H.R. 8), of language to expedite approval of permits to build LNG terminals.

  • 30 March 2017
    Business & Finance

    Germany’s shipping finance provider HSH Nordbank has reported high loan loss provisions as it set aside EUR 2 billion (USD 2.14 billion) for legacy shipping assets. The high loan loss provisions for shipping loans emerged amid the ongoing difficult development of the shipping market, while general loan loss provisions of EUR 237 million were simultaneously […]

  • 15 November 2013
    Business & Finance

      Sea Trucks Group announced the award of a contract from Daewoo Shipbuilding and Marine Engineering, a leading global offshore services company, for the provision of an accommodation vessel for the Arkutun-Dagi Project operated by Exxon Neftegas Limited in Sakhalin, Russia. Sea Truck’s Jascon 25 vessel will be used for the project, which is expected […]

  • 16 August 2013
    Business & Finance, Equipment, Operations & Maintenance, Project & Tenders

    Rijkswaterstaat Dienst Noordzee announces that it has awarded a provision and maintenance contract for a Remotely Operated Vehicle (ROV). The contract is for a period of five years and it includes a control cabin, launch and recovery system (LARS) and an Ultra-short baseline underwater positioning system (USBL) for the ROV. Bluestream Offshore B.V. and Kongsberg […]

  • 19 June 2017
    Business & Finance

    With persistent shipping woes, the German-based provider of shipping finance HSH Nordbank has seen its loan loss provisions increase in the first quarter of 2017. Namely, the bank’s loan losses amounted to EUR 198 million (USD 221.3 million) during the three-month period, significantly larger than EUR 62 million reported a year earlier, primarily related to the difficult […]

  • 22 January 2018
    Business & Finance, Operations & Maintenance

    The U.S. oilfield services major Halliburton has reported net loss in the fourth quarter 2017 of $825 million or 94 cents per share on charges related to U.S. tax reform and Venezuela receivables. Halliburton recorded an aggregate $882 million of non-cash discrete tax charges in the fourth quarter of 2017, primarily as a result of preliminary […]

  • 16 May 2013
    Business & Finance

    U.S. Sens. Carl Levin and Debbie Stabenow of Michigan welcomed Senate passage of the Water Resources Development Act including important provisions they fought for to reduce the backlog of harbor dredging projects in the Great Lakes. “For too long, harbors in the Great Lakes and across the country have suffered from a maintenance backlog, while […]

  • 21 November 2011
    Business & Finance

    Dolphin Drilling Ltd., said on Friday it has entered into contracts with Anadarko Petroleum​ for the provision of the drillship Belford Dolphin and its newbuild drillship under construction by Hyundai Heavy Industries (HHI). The contracts are each for four years and are expected to be in support of Anadarko’s future long term drilling programmes offshore […]

  • 4 October 2013
    Business & Finance

    Malaysia’s Alam Maritim Resources Berhad announces that its wholly-owned subsidiary, Alam Maritim (M) Sdn Bhd, has recently been awarded a contract for the provision of an anchor handling tug supply vessel. The Contract, valued at approximately RM22 million (USD 6.8 million) is for a primary period of six months with an extension option of another […]

  • 5 August 2016
    Business & Finance

    As challenging market conditions persisted in the shipping sector during the first half of 2016, the Royal Bank of Scotland (RBS) reported impairment provisions related to its shipping business at GBP 445 million (USD 585.5 million). The dry bulk sector scored the largest part of the impairment provision which were at GBP 379 million for the business, while the […]

  • 24 January 2011
    Business & Finance

    Nexus Energy Limited (“Nexus”) refers to the article published today in The Australian Financial Review newspaper regarding speculation on the Crux liquids project. Nexus advises that it is in discussions with a contractor for the provision of an FPSO as well as a project financier and potential joint venture partners for the Crux liquids project […]

  • 30 October 2013
    Business & Finance

    Last week the U.S. House of Representatives passed the Water Resources Reform Development Act (WRRDA). The legislation authorizes federal programs for navigation, dredging, flood control and other in-water projects. The bill included two important provisions for the Port of Tacoma: – The permanent authorization of Section 214, which is an important tool used to ensure […]

  • 2 November 2012
    Business & Finance, Operations & Maintenance, Project & Tenders

    Réseau de transport d’electricité SA (RTE) is seeking for a contractor to provide hydrographic services in France. As part of the environmental impact studies underway for projects with connections to offshore wind farms (only “export” cables), samples and benthic analyses are needed to establish the initial state of the environment. The four areas covered are […]

  • 13 September 2016
    Business & Finance

    U.S. Senator Marco Rubio has welcomed the Senate’s continued advancement of the Central Everglades Planning Project (CEPP), as well as three more Florida provisions included in the Water Resources Development Act (WRDA). Rubio voted yesterday in support of a procedural motion that passed the Senate, bringing the bill itself one step closer to final passage. In the […]

  • 18 October 2013
    Business & Finance

    Statoil has awarded Atlas Services Group (Atlas) with a framework agreement regarding the provision of drilling and well technology professionals. The five-year contract, which covers Statoils’ operations in Norway but may also be utilised globally, will commence in January 2014. With content Christian Christiansen, Director Atlas Norway, receives the granted contract with delight: “We are […]

  • 4 July 2013
    Human Capital

    National Wind Farm Training Centres (NWFTC) is growing its training team to support its increased schedule of training courses. Tom O’Shea, an expert in rescue requirements and procedures with more than ten years’ experience in training, has joined NWFTC to oversee the development of new courses and deliver NWFTC’s established range of training services. Dan […]

  • 17 January 2018

    Malaysian oil company Petronas Carigali has hired UMW for the provision of hydraulic workover units for well maintenance.