Business & Finance
AGS Welcomes Haugestad as CFO
Norwegian ocean bottom node seismic player Axxis Geo Solutions (AGS) has appointed Nils Haugestad as the company’s chief financial officer (CFO). Haugestad comes from Seabird Exploration where he held the position as CFO over the last six years and was instrumental in the refinancing of the company
Ocean Installer elects new chief financial officer
Norwegian subsea contractor Ocean Installer has appointed a new chief financial officer (CFO) of the company.
Former SeaBird man takes CFO role at Axxis Geo Solutions
Axxis Geo Solutions (AGS), a Norwegian ocean bottom node seismic company, has appointed a new chief financial officer (CFO) and chief commercial officer (CCO).
COVID-19 Measures: Wärtsilä to Cut Board of Mgmt’s Salaries by 20 Pct
COVID-19 measures: Wärtsilä is to temporarily cut the fixed salaries of its board of management by 20 pct.
Preparations Underway for Conway Lake Restoration
A contractor for the U.S. Army Corps of Engineers’ St. Paul District – Kaiyuh Services, LLC, of Anchorage, Alaska – is preparing to start construction on a habitat restoration project in Conway Lake, near Lansing, Iowa, in May. The completed project will restore lost and diminished fish and wildlife
Port of Cres Upgrade Works Move Ahead
Reconstructing and upgrading operations on the western section of the Port of Cres are being carried out as planned, with almost 50% of the planned work being completed to date, local media reports. All engaged in the project are complying with the COVID-19 protection measures, the port authority in
Emergency USD 1.23 Mln Fund to Support Seafarers Impacted by Covid-19
ITF Seafarers’ Trust launching a USD 1.23 million fund to address the impact of the pandemic on seafarers.
OSG Secures Loan to Finance Jones Act ATB Newbuild
Overseas Shipholding Group (OSG) closes a USD 33,150,000 loan to finance its new oil and chemical ATB.
Higgins Announces $155.7 Million for Louisiana
Louisiana Congressman Clay Higgins has announced that the U.S. Department of the Interior will award Louisiana $155.7 million in GOMESA revenue-sharing funds. The funding, which is derived from offshore energy production, will be used to finance coastal restoration efforts in Louisiana. The State of
Euronav Braces for Write-Down amid Compliant Fuel Price Drop
Euronav expects a write-down in the first quarter of 2020 amid VLSFO price drop.
St. Louis River AOC Deal Signed
The U.S. Environmental Protection Agency (EPA) has signed a $4.5 million agreement to remediate contaminated sediment in the St. Louis River Area of Concern (AOC) on Lake Superior. The St. Louis River AOC is one of 43 toxic hotspots identified by the United States and Canada in the Great Lakes basin
Seeking Full Funding for Great Lakes Restoration Initiative
U.S. Senator Tammy Baldwin, a member of the bipartisan Senate Great Lakes Task Force, last week joined her colleagues in sending a letter to the Appropriations Subcommittee on Interior, Environment, and Related Agencies Chairman Lisa Murkowski and Ranking Member Tom Udall to request at least $320 mi
Helix Energy eyes capex reduction as oil price decline and coronavirus hit the market
Expecting the spot market for 2020 to be significantly weaker than previously predicted, Helix Energy plans to slash its capex by 20 per cent.
Crew Members of Maersk Boxship Test Positive for Covid-19
Five crew members of a Maersk owned and operated containership test positive for coronavirus.