Business & Finance
Odfjell Terminals US Secures USD 250 Mln Loan
Odfjell Terminals US has closed a USD 250 million revolving credit facility.
Inpex reviewing investment plans amid oil price decline and coronavirus crisis
Japan’s Inpex Corporation is reviewing its investment plans and looking into other cost-reducing measures due to the current market situation and the impact of the coronavirus and the oil price decline on its business operations.
$22 Million for Coastal Projects in North Carolina
The N.C. Division of Water Resources has awarded $22 million to 13 coastal towns and counties to help with recovery efforts following Hurricane Florence. “Coastal communities are still in the rebuilding and recovery phase more than a year after Hurricane Florence left its devastating impact,” said M
COVID-19: Hapag-Lloyd Adds 100,000 TEU of Capacity to Keep Goods Moving
Hapag-Lloyd has on-hired over 100,000 TEU of additional equipment across the globe to keep the supply chain flowing.
Maersk Product Tankers back to black
Danish tanker owner and operator Maersk Product Tankers returned to black having reported a profit of $91.4 million for 2019 as freight markets improved across all tanker segments. The profit marks a significant recovery when compared to a loss of $35 million a year earlier. The tanker shipping comp
Saltire backs Atlantis subsea hub
SIMEC Atlantis Energy has been awarded a £1.5-million grant from the Scottish Government’s Saltire Tidal Energy Challenge Fund to develop a subsea tidal turbine connection hub for the next phase of development of the MeyGen tidal power array. The Saltire Tidal Energy Fund is a £10-million fund suppo
Unique Group and OTAQ Offshore Ink Rental Agreement
Unique Group has signed an exclusive rental agreement with UK-based OTAQ Offshore to represent the latter’s technology and products across the Middle East, APAC and the Americas. OTAQ Group supports customer activities in the offshore energy, aquaculture, commercial diving, defence and oceanographic
Mitsubishi and Chubu complete Eneco buy
Mitsubishi Corporation and Chubu Electric Power have completed the acquisition of the Dutch energy company Eneco. The two Japanese companies have now, through their special purpose company, Diamond Chubu Europe B.V, acquired all of the shares of Eneco. The total value of this acquisition is €4.1 bil
Massachusetts Dredging Program and Seaport Grants
The Baker-Polito Administration recently announced more than $2.9 million in Seaport Economic Council Grants to support nine maritime projects in seven communities. “Massachusetts’ coastal assets are incredibly important to the state’s overall economic health, and our administration’s investments th
Ørsted’s projects on track as planned
Ørsted’s construction projects are all progressing according to plans, the offshore wind developer reported on 25 March, referring to the current situation with the world fighting the COVID-19 pandemic. The company said it did not see any permits, consents, tax credits, or offtake agreements in rela
All Set for Port of Waterford Dredging Campaign
Port of Waterford, Ireland, is about to begin a maintenance dredging campaign, the company announced in a press release on Monday. As reported, on or about Saturday the 28th of March, the trailing suction hopper dredger Shoalway will conduct dredging activities in the vicinity of Duncannon Bar, Chee
Maersk Product Tankers Back to Black
Maersk Product Tankers returned to black having reported a profit of USD 91.4 million for 2019.
Prada and UNESCO Postpone Sea Beyond Project Due to COVID-19
Prada and UNESCO’s Intergovernmental Oceanographic Commission (IOC) have decided to postpone the start of activities of the Sea Beyond project to September 2020, as a precautionary measure in the context of the COVID-19 pandemic. According to data released by UNESCO, the COVID-19 outbreak is now imp
Embedding the Line Deeper in Boston Harbor
Black & Veatch has provided engineering design and support for permitting and construction on a project that will upgrade submarine cable and transmission line in Boston Harbor. Installation of a new underground and submarine transmission line enables future dredging work needed for import and expor