Business & Finance
Eurogrid’s debut green bond to finance German offshore wind connections
Eurogrid GmbH, the parent company of 50Hertz, has issued its debut green bond in the amount of EUR 750 million, which will finance the Ostwind 1 and 2 grid connections in Germany. The corporate bond with a term of 12 years and an interest rate of 1.113% was issued on the regulated market with the [&
Finland’s Gasum sees quarterly profit decline
Finnish state-owned gas company Gasum reported a 30 per cent year-on-year decline in net profit saying it only had minor impacts from the Covid-19 coronavirus pandemic. Lower power and gas prices have weighed down on Gasum’s profits. Gasum’s net profit totaled 12.3 million euros ($13.3m), compared t
SEA Europe: EU maritime fund is needed to spur development of green technologies
As the envisaged transformation of the European waterborne transport would require significant investments, SEA Europe has proposed the creation of a dedicated EU Maritime Fund as an alternative to extending the EU Emission Trading Scheme (ETS) to shipping.
Rig impairments take Noble Corp. deeper into the red
Noble Corporation saw its quarterly net loss deepen after being negatively affected by rig impairment charges amid lower demand as a result of the coronavirus pandemic and low oil prices.
Impairments sink EMGS to wider loss
Norwegian geophysical services company EMGS has seen its first-quarter loss widened on impairment of DeepBlue source system. The Oslo-listed firm booked Q1 2020 loss of $9.6 million or 7 cents, versus loss of $6 million in Q1 2019. Revenues for the quarter rose at $11.3 million from $10.8 million sa
Shute Harbor Work Progresses According to Schedule
Mayor, Whitsunday Regional Council, Andrew Willcox, joined Member for Dawson, George Christensen, this week to check out the progress of the Shute Harbor Restoration project. Piling works to support the new wharf and pontoons started last week and the full restoration project is expected to be compl
Euronav posts massive surge in Q1 profit
Antwerp-based tanker shipping company Euronav is reaping large profits from strong underlying tanker dynamics having reported $225.6 million of profit in the first quarter of 2020. The figure is a massive surge when compared to a profit of $19.5 million in Q1 2019. The company’s revenue almost doubl
CHEC Wraps Up Abidjan Port Expansion
CHEC, a China Communications Construction’s subsidiary, recently completed the Abidjan Port Expansion Project in Cote d’Ivoire – reaching 11.12 million safe man-hours during the project construction. The project mainly includes building three new container berths, a ro-ro berth, a general cargo bert
Australia’s first offshore wind project expands survey team
Star of the South Wind Farm has partnered with Curtin University and Deakin University to assist with offshore site investigations for Australia’s first offshore wind project. Curtin University’s Centre for Marine Science and Technology is helping understand marine mammals in the project area, while
Defending Great Lakes Navigation System
Continuing his efforts to safeguard the future of commerce on the Great Lakes, Michigan Representative Jack Bergman is proposing a new policy to ensure baseline levels of funding for the backlogged maintenance projects along Great Lakes transportation routes. The Great Lakes Navigation System (GLNS)
Equinor sinks to quarterly loss due to low prices and impairments
Equinor recorded a loss in the first quarter of the year due to low oil prices and impairments of $2.5 billion but delivered a record-high production during the period.
Singapore LNG handles 320 shipments in seven years
Singapore’s liquefied natural gas import terminal on Jurong Island has received 320 shipments of the fuel since it started operations seven years ago. Out of these, 225 shipments totaling over 15 million tonnes of LNG were used for regasification, terminal operator Singapore LNG said on Thursday mar
Major Wins for Oregon in 2020 Water Resources Bill
Oregon’s U.S. Senator Jeff Merkley, a member of the Senate Environment and Public Works (EPW) Committee, announced yesterday that the Senate’s 2020 water resources legislation contains major victories for communities across Oregon. Merkley has spent months working with community leaders all over the
Cairn Energy looking for chairman successor
Chairman of oil and gas company Cairn Energy has indicated that he will retire from the board of directors.