Subsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month.
The month of July has seen companies forging alliances, industry majors announcing market-adjusting plans, new job cuts, fleet reductions and contract cancellations. Subsea 7 teamed up with OneSubsea to jointly provide subsea solutions, while with KBR it formed a new concept and FEED alliance.
Technip came out with restructuring plan which will see the French subsea major slash its workforce by 6000 and downsize its fleet to 23 vessels.
Italy’s Saipem has lost a major contract related to the pipe laying activities under the Black Sea, which resulted in backlog reduction of approximately €1.2 billion.
In addition, Singapore’s Ezra Holdings is said to be looking at potential sale and leaseback deal of its $625 million subsea construction vessel Lewek Constellation which would unlock about US$200 million of equity.
For the month of July, our 10 most-read articles were: