Business & Finance
HHLA feels negative impact of COVID-19
German terminal operator Hamburger Hafen und Logistik AG (HHLA) reported decreases in both revenue and earnings in the first three months of this year due to the challenging market environment. The company also recorded a moderate decrease in its container throughput and a significant decline in con
Vantage Drilling cuts losses
Offshore drilling company Vantage Drilling International saw its net loss shrink in the first quarter of 2019.
Managing Risks: How to Select the Appropriate Dredging Contract
The International Association of Dredging Companies’ (IADC) latest edition of their Terra et Aqua magazine featured a very interesting article named ‘Managing risks: how to select the appropriate dredging contract’. The contracting environment for dredging and offshore works is diverse. Moreover, in
French floating wind project secures EIB financing
The European Investment Bank (EIB) has approved an undisclosed sum to finance the development of the 30 MW Golfe du Lion floating wind project offshore France. The demonstration floating wind farm will feature three V164 MHI Vestas 10 MW wind turbines supported by Principle Power’s WindFloat semi-su
Oregon Inlet Dredging Available for Public Review
Cape Hatteras National Seashore (Seashore) has announced the availability of a draft Finding of No Significant Impact (FONSI) for the dredging of Oregon Inlet with a Dare County dredge. Dare County is seeking a Special Use Permit from the Seashore to utilize a privately-owned hopper dredge in the sa
Caminada Headland Marsh Creation Project Moving into Next Phase
The Caminada Headland Back Barrier Marsh Creation – Increment 2 (BA-193) project is moving into the next phase, officials announced on the CWPPRA website. The project entails dredging suitable marsh fill material from designated offshore borrow areas to create an eight mile long stretch of marsh. Du
Petrobras hits two new oil discoveries offshore Brazil
Petrobras has made two new oil discoveries in Brazil’s offshore waters.
Panama Canal ensures steady draft and transit reliability
Panama Canal has secured a steady draft for the upcoming period ensuring an operational level of water and transit reliability in the second half of 2020, the canal authority said in the latest update. The announcement is being made as the canal resorted to water-saving measures earlier this year af
Petrofac scoops more work with BP
Oilfield services provider Petrofac has won a three-year extension to its existing maintenance contract with oil major BP.
Preparations Underway for the Lavna Terminal Main Works
Oversite excavation is underway at the construction site of Lavna coal terminal (western coast of the Kola Bay) as part of preparations for the main phase of construction works, Federal Marine and River Transport Agency (Rosmorrechflot) posted on its official Instagram profile. The news, also report
South Korean bank to provide loan for LNG Canada pipeline
South Korea’s KB Kookmin Bank will lend 240 million Canadian dollars ($171 million) for the construction of a pipeline that will supply gas to the Shell-led LNG Canada project. KB Kookmin Bank said in a statement that it is the only South Korean lender taking part in the Coastal GasLink project fund
Serica seals the deal for Awilco rig
Serica Energy and drilling contractor Awilco have signed a contract for the provision of WilPhoenix rig for one-well workover on the Rhum field located off the UK.
Muskegon Breakwater Project Progresses
Great Lakes Dock and Materials has been making good progress in Muskegon, Michigan this spring – repairing the Muskegon South Breakwater Connector. According to the Corps, Detroit District, demolition of the grouted caps between the concrete monoliths is 3/4 complete and the first concrete placement
EIB greenlights €500 million Hollandse Kust (noord) loan
The European Investment Bank (EIB) has approved a €500 million loan to finance the development of the Hollandse Kust (noord) offshore wind project. The loan application was submitted by the Kingdom of the Netherlands. Located 18.5 kilometres off the west coast of the Netherlands, the Hollandse Kust