Business & Finance
Scorpio Bulkers delays scrubber installation on 13 ships
Monaco-based dry bulk shipping company Scorpio Bulkers has decided to postpone the installation of exhaust gas cleaning systems on thirteen of its vessels until at least 2021 as part of its cost-cutting measures. The bulk carrier owner said that the move is expected to delay the payment of between $
Boskalis First Quarter Results
The first quarter of 2020 was above expectations for Royal Boskalis Westminster N.V. (Boskalis). In light of the worldwide developments of the COVID-19 virus, Boskalis closed a good first quarter. According to the company, a modest increase in revenue was accompanied by a higher result compared to t
Yard lockdown pushes back Premier Oil’s project start-up
Oil and gas company Premier Oil has pushed back the forecast of first gas for the Tolmount project, located in the Southern North Sea.
CMA CGM obtains € 1.05 billion loan
French container shipping major CMA CGM has secured a €1.05 billion ($1.1. billion) syndicated loan, the company announced. As disclosed, the loan will be arranged by a consortium of banks BNP Paribas, HSBC France and Société Générale and it would be 70% percent guaranteed by the French Government.
KBR nets JX Nippon carbon capture contract
Houston-based energy and LNG engineer KBR said Wednesday it has secured a carbon capture contract from Japan’s JX Nippon Oil & Gas Exploration Corporation. Under the master service agreement and feasibility study, KBR will assess options for carbon capture and sequestration, alongside blue hydrogen
Ideol and Kerogen Capital to test waters for offshore wind-powered oil & gas platforms
Ideol has entered into a Memorandum of Understanding (MoU) with Kerogen Capital to assess the benefits of using offshore wind to power oil & gas platforms. Ideol stated that the focus of the initiative will be to combine the Damping Pool, its floating offshore wind solution, with Kerogen’s internati
Santos fires starting gun for Dorado FPSO supply competition
Australia’s Santos is pushing forward with its Dorado field development, located in the Bedout Basin offshore Western Australia.
Royal IHC, Douala Port Authority Continue Their Cooperation
Cameroon’s Port Authority of Douala (PAD) has acquired high-tech equipment from Royal IHC to support their dredging activities. As part of measures to autonomously manage its dredging activities, the management of the PAD acquired an IHC Beaver 50 cutter suction dredger (CSD) and a DMC work boat. Th
Kaminsky Urges USACE to Dredge Jones Inlet
A New York State senator is calling for the U.S. Army Corps of Engineers to “immediately” dredge Jones Inlet for safer navigation after a fatal boating accident on May 2, Newsday reports. Senator Todd Kaminsky requested in a May 4 letter that the federal agency dredge the inlet that is a major water
Making Townsville More Attractive for Car Carriers
A new $2.5 million project to extend the secondary wharf at Berth 10 will make Townsville more attractive for car carriers, Port of Townsville said in their latest release. Townsville marine contractor Pacific Marine Group Pty Ltd (PMG) was successful in securing the contract to upgrade the importan
Galveston Deepening Deal Inked
The U.S. Army Corps of Engineers will complete engineering and design resulting in a set of plans and specification ready for solicitation to deepen the last 2,571 feet the Galveston Ship Channel to 46 feet under a design agreement signed with the Galveston Wharves yesterday. If Federal construction
New joint venture exploring South African offshore wind market
Swedish floating multi-turbine platform designer Hexicon AB and South African wind developer Genesis Eco-Energy Developments are joining forces to explore the development of offshore wind in South Africa. The development program will be carried out via a joint venture company in South Africa named G
Maersk braces for 20-25% volume decrease in Q2 amid COVID-19 uncertainties
Copenhagen-based shipping major A.P. Moller-Maersk has emerged strongly from the first quarter of 2020, having reported an underlying profit of $197 million from continuing operations. The results are being reported despite a strong impact of the COVID-19 which started to be felt in February amid ex
Borr Drilling gets listing warning from NYSE
Borr Drilling has joined a growing list of offshore drilling contractors facing a possibility of being delisted from the New York Stock Exchange (NYSE).