Business & Finance
USACE Seeks Comments on Lake Pepin Plan
The U.S. Army Corps of Engineers, St. Paul District, is proposing to construct a habitat rehabilitation project at the head of Lake Pepin on the Mississippi River, located in Pierce County, Wisconsin, using material dredged from the Mississippi River. The Corps released its draft Environmental Asses
U.S. weekly LNG exports dip
The United States exported fever liquefied natural gas cargoes in the week ending April 22 when compared to the week before, according to the Energy Information Administration. The agency said in its weekly gas natural gas report that 13 LNG cargoes were dispatched from five US terminals between Apr
Weeks Marine, Eastern Shipbuilding Ink Contract for New TSHD
Weeks Marine and Eastern Shipbuilding Group (Eastern) have signed a contract to construct a sister ship to Weeks Marine’s TSHD Magdalen, the twin screw trailing suction hopper dredge built by Eastern and placed into service in 2018. The new vessel will be constructed at Eastern’s Allanton Panama Cit
DP World says outlook concerning amid COVID-19 uncertainties
Dubai-based port and terminal operator DP World had a robust performance in the first quarter of the year with the like-for-like throughput broadly flat year-on-year. The port operator handled 17.2 million TEU across its global portfolio of container terminals in the first quarter of 2020, with gros
New Jersey releases offshore wind institute plan
The New Jersey Wind Council has released a report detailing plans for creating the Wind Innovation and New Development (WIND) Institute. The WIND Institute will serve as a center for education, research, innovation, and workforce training related to the development of offshore wind in New Jersey and
Clipper Bulk downsizing to mitigate pandemic’s impact
Danish bulker operator Clipper Bulk A/S has launched cost-cutting efforts to combat historically low freight markets caused by the Covid-19 pandemic, which will include job cuts. The company said it would axe 24 out of 91 jobs ashore by the end of April, with the majority impacting the head office i
Lamprell and ScottishPower settle East Anglia 1 tab
Lamprell and ScottishPower Renewables have reached a final settlement with regards to the close-out of the East Anglia One project. The final settlement will result in a cash payment to Lamprell of USD 18.9 million in May 2020, the UAE-based offshore engineering and fabrication company said. In addi
Lugaport Land Reclamation Wraps Up
As part of land reclamation for the new Lugaport Terminal, Group of Companies Novotrans has successfully completed the sheet piling and sand filling operations. The volume of money currently invested into the project by the holding exceeded $80 million. Commenting the latest milestone, Konstantin Go
Pin Oak Corpus Christi Loads First Vessel at New Oil Dock
Pin Oak Corpus Christi, LLC received its first vessel at the newly commissioned Oil Dock 14 at the Port of Corpus Christi last week. The new dock can accommodate fully laden bulk liquid tankers up to Suez-max class with loading rates in excess of 40,000 barrels per hour. The Port of Corpus Christi i
France greenlights 8.75 GW offshore wind target
France will put up to 8.75 GW of offshore wind capacity out to tender from 2020 to 2028, the Multiannual Energy Programme (Programmation pluriannuelle de l’énergie (PPE)) shows. The new PPE has entered into force on Thursday, 23 April. As proposed earlier, the PPE also increases the intended operati
Chart eyes LNG stations deal with Shell as profit jumps
US LNG equipment maker Chart Industries on Thursday reported a jump in first-quarter profit.
Ineos pushes charter of Floatel unit to 2021
A charter for a Floatel International-owned flotel with Ineos in the UK North Sea has been postponed for 2021.
Equinor slashes quarterly cash dividend by two thirds
Norwegian oil major Equinor has decided on a cash dividend of $0.09 per share for the first quarter of 2020, a reduction of 67 per cent compared to the fourth quarter of 2019.
Dry bulk’s overcapacity woes exacerbate road to demand recovery
Over ordering of bulk carriers over the past ten years has set the tone for the upcoming decade as overcapacity hinders shipowners’ battle with low demand further constrained by the COVID-19 pandemic. A total of 413 million DWT has flooded the market since the turn of the decade, bringing the world