Business & Finance
Oceaneering reduces quarterly deficit
Oceaneering has reported a net loss of $24.8 million, or 25 cents per share, on revenue of $427 million for the second quarter 2020. Adjusted net loss was $14.2 million, or 14 cents per share, reflecting the impact of $9.6 million of pre-tax adjustments and $3.3 million of other discrete tax adjustm
Eni slips to loss, cuts capex
Eni went from a profit in the second quarter of 2019 to a loss in the same period this year hit by the combined effects of the coronavirus pandemic and the oil price crisis.
Pacific Basin scores $23.1 million net savings on its scrubbers
Hong Kong-based dry bulk shipping company Pacific Basin achieved a net saving of $23.1 million on its scrubbers, representing 38% of its original investment. The company decided to fit scrubbers on 28 of its owned Supramaxes back in 2019 in order to comply with the IMO 2020 global 0.5% sulphur limit
JAXPORT gets additional $75 million for harbor deepening
The Jacksonville City Council has unanimously awarded the Jacksonville Port Authority (JAXPORT) $75 million for the ongoing harbor deepening project.
Carnival to take up to $650 million impairment hit from new ship sales
Carnival Corporation & plc, the world’s largest cruise company, revealed that it was taking an estimated impairment charge of between $600 million and $650 million from the sales of two additional ships. “Senior management of the company evaluated these two ships for impairment and concluded their c
CIP and MHI team up for Japanese offshore wind
Mitsubishi Heavy Industries (MHI) and Copenhagen Infrastructure Partners (CIP) have entered into a joint venture to develop offshore wind projects in Hokkaido, Japan. The joint venture is jointly owned by MHI (50%) and CIP (50%), and a team with experts from both owners will be established, the comp
Shell books $18 billion loss on huge impairment charges
Shell booked a loss of $18.1 billion in the second quarter of 2020 due to huge impairments as it cut its price outlook in response to the coronavirus pandemic and the oil price crisis.
ICPC welcomes new general manager
The International Cable Protection Committee (ICPC) has appointed Ryan Wopschall as its new general manager. Active in the ICPC as a member-company representative and speaker since 2010, Wopschall brings to the organisation deep knowledge and experience regarding protection of submarine cables, whic
Total logs profit despite COVID-19 effects
Total reported a 96 per cent drop in adjusted profit for the second quarter of 2020 due to lower prices and COVID-19 effects.
TechnipFMC quarterly earnings dip
TechnipFMC has reported second-quarter 2020 profit of $12 million or 3 cents per diluted share against $97 million profit same time last year. Adjusted diluted earnings per share, excluding charges and credits, was 9 cents. Revenues for the quarter were down 8 per cent at $3.16 billion, form $3.43 b
Total sells Gabon assets to Perenco
French oil major Total has decided to divest its portfolio of mature non-operated assets located offshore Gabon to Perenco.
Siemens Gamesa shines offshore, struggles onshore
Wind turbine manufacturer Siemens Gamesa posted € 466 million net loss in the third quarter of FY 2020, attributed largely to the effects of the COVID-19 pandemic and challenges in the onshore segment. Between April and June, Siemens Gamesa recorded revenues of € 2.411 billion, an eight percent decl
Karoon CEO to retire after 16 years at the helm
Karoon Energy’s founder and long-standing CEO and Managing Director, Robert Hosking, is retiring from the company at the 2020 Annual General Meeting.
Apache in fresh oil discovery offshore Suriname
Apache has made what it says is a major oil discovery at the Kwaskwasi-1 well drilled offshore Suriname in Block 58.