Business & Finance
Dredger Albatros Busy in Portland Port, Dorset
Herbosch Kiere – specialized in river, port, coastal and offshore projects – is currently working in Portland Port, Dorset on their first UK dredging project. After a competitive tendering process, they were awarded the main contract for the dredging works at the outer arm of Queen’s Pier and the Ou
Wellesley hires Dolphin rig for North Sea campaign
Dolphin Drilling will carry out a programme of North Sea drilling work for Wellesley Petroleum.
Nestlé UK and Ørsted sign offshore wind PPA
Nestlé UK has signed a long-term corporate power purchase agreement to buy the output of 31 MW from Ørsted’s Race Bank offshore wind farm. The UK subsidiary of the world’s largest food and beverage company, Nestlé, signed a 15-year indexed fixed price agreement with Ørsted. This is Ørsted’s largest
Ernst Russ wants to further grow within the shipping segment
Germany’s Ernst Russ Group closed the 2019 financial year with positive overall business performance, completing a number of strategically important projects and further expanding as a maritime asset and investment manager.
Sukhyi Estuary Dredging Tender Released
The Chornomorsk branch of the Ukrainian Sea Ports Authority (USPA) has released a tender for the Sukhyi estuary dredging works. According to USPA, the Chornomorsk Sea Port Authority will select a contractor for the reconstruction of the operating water area of the 1st boot basin of the Sukhyi estuar
NAT cashing in on never stronger tanker market
The tanker market has never been so strong, according to Herbjørn Hansson Chairman & CEO of Nordic American Tankers (NAT). The company, which owns and operates Suezmax tankers, is cashing in on the market bonanza and unprecedented demand for floating storage. Namely, big oil companies the likes of E
Protecting the Danish North Sea Coast
The mainland of Denmark is a low-lying peninsula that juts out 300 km into the North Sea from northern Germany, and the North Sea coast is a landscape of estuaries, inlets, low cliffs, dunes and long sandy beaches. According to Per Sørensen, Head of Coastal Research at the Danish Coastal Authority,
Diamond Offshore seeks Chapter 11 protection
Offshore drilling contractor Diamond Offshore has started voluntary Chapter 11 proceedings to restructure and strengthen its balance sheet.
Petronas denies claims of shutting down 14 rigs and projects
Petronas has refuted allegations in news reports stating the company has deactivated 14 rigs and shut down 14 projects.
Restoring Semaphore South Sand Dunes
Work to rebuild eroded sand dunes along Semaphore Beach and stabilize the area with vegetation is officially underway, Government of South Australia reports. The Government’s Department for Environment and Water (DEW) has been working closely with the City of Port Adelaide Enfield and community repr
Gulf of Ob Dredging Deal Inked
FSUE Hydrographic Company and Mordraga have signed an agreement for reconstruction of the Gulf of Ob seaway canal where the Novatek’s Utrenny terminal is being built, IAA PortNews reports. The limit price under the agreement is $504 million. According to IAA PortNews, the works will last for three y
PGNiG says Gazprom did not slash gas prices
Poland’s dominant gas firm PGNiG claims that Russian giant Gazprom has not reduced gas prices despite a court ruling last month. The arbitration tribunal in Stockholm ruled in March that Gazprom must pay PGNiG about $1.5 billion in a pricing dispute case. The court also ruled that a gas pricing form
Red ink for Kvaerner as coronavirus costs bite
Affected by coronavirus costs and provisions, Kvaerner sank to a loss in the first quarter of the year compared to a profit in the year-before quarter.
Port of Antwerp: Port dues can be paid late due to COVID-19
In order to support companies in Belgium’s Port of Antwerp during the coronavirus crisis, Antwerp Port Authority has agreed to let them delay payment of port dues for seagoing ships and barges.