Business & Finance
Hoegh LNG suspends dividends and cuts costs
Norway’s Hoegh LNG will stop paying dividends to investors as part of a move in reducing costs due to the uncertain environment caused by the coronavirus pandemic. Hoegh’s board has decided to suspend dividends, bonus scheme for executive management and onshore personnel until further notice, the fl
Oil Search in $700 million equity raising
Papua new Guinea-focused LNG producer Oil Search is looking to raise up to A$1.16 billion ($700 million) through a discounted share sale to weather a prolonged period of low oil prices. Oil Search, which owns a 29 per cent interest in the PNG LNG project, said on Tuesday the raising would be conduct
France’s GTT appoints deputy CEO
French liquefied natural gas containment specialist GTT has appointed Eric Dehouck as deputy chief executive officer. Dehouck will support the acceleration of GTT’s development and will assist Philippe Berterottière in his responsibilities as chairman and CEO of GTT, the company said in a statement.
CEMEX Go Innovation Almost Ready for Delivery
The first of Damen’s new Marine Aggregate Dredgers, a 103.5 meter long CEMEX Go Innovation is almost ready for delivery to her new owner in the UK. Currently under construction for CEMEX at Damen Shipyards Galati (DSGa) in Romania, the delivery of this 3.500m³ aggregate dredger type MAD3500 is sched
The Concept of the Twin Dyke
The concept of the Twin Dyke in northern Netherlands is almost ready to prove itself, informs the Dutch Water Sector. Along the Wadden Sea, a 2.5 km long double levee section has been constructed. The area between the levees is now being designed with controlled sea water inflow for the farming of s
Saudi Arabia buys 8.2 % stake in Carnival Corporation
The Public Investment Fund from Saudi Arabia has taken an 8.2 percent stake in the world’s largest cruise shipping company Carnival Corporation. The fund bought 43,508,895 of the class securities offered as part of Carnival’s debt and equity offerings aimed at lifting the company’s liquidity. The mo
WindEurope: Investments in new offshore wind projects slide in 2019
€ 6.1 billion was invested in four European offshore wind projects with a combined capacity of around 1.4 GW in 2019, marking the lowest amount invested and the capacity financed in a year since 2012, according to a report by WindEurope. The four wind farms that reached the Final Investment Decision
Carteret County Beachfill Almost Done
The Carteret County Shore Protection Office announced yesterday that they are right on track with the Phase II of the Post Florence Renourishment Project. Great Lakes Dredge & Dock and their hopper dredge Ellis Island have been working uninterrupted and completed the Pine Knoll Shores reach (“Reach
Cold-stack ahead for EMGS vessel as BP cancels African survey
Norwegian seismic services company EMGS has noted an extremely low vessel utilization for the first quarter of 2020 due to project cancelations, which ensued following the recent oil price drop and the coronavirus pandemic. As a result, one of EMGS’ vessels is up for a cold-stack.
Ithaca Energy halves capital expenditure for 2020
Oil and gas company Ithaca Energy has more than halved its capital expenditures for the year due to the double threat posed by the coronavirus pandemic and the sharp oil price drop.
Ørsted and HBC Group continue subsea inspection collaboration
Ørsted has awarded HBC Group with another contract to conduct subsea inspection campaigns at its offshore wind farms. HBC Group will this year carry out the inspection campaigns at 10 of Ørsted’s offshore wind farms located on the UK East and West Coast and in the German North Sea. The company will
China Three Gorges New Energy plans IPO to fund 7 offshore wind projects
China Three Gorges New Energy (CTGNE) plans to launch an initial public offering (IPO) of its A shares at a total value of CNY 25 billion (approximately EUR 3.3 billion), with most of the raised funds to be used to invest in seven offshore wind projects.
PHOTO: DEME’s TSHDs Breydel and Scheldt River in Italy
DEME Group’s trailing suction hopper dredgers (TSHDs) Breydel and Scheldt River worked side by side recently to complete the first phase of the deepening works in the Port of Salerno in Italy. “This is a remarkable achievement considering the extremely difficult COVID-19 conditions of the past weeks
African Energy Chamber urges OPEC and OPEC+ to end oil price war
The African Energy Chamber, a chamber of networks, transactions, and partnerships at the helm of Africa’s growing energy industries, has urged OPEC and OPEC+ to reach a deal on ending the oil price war which has sent the oil price tumbling to historic low levels.