Business & Finance
Shell moves to cut costs due to coronavirus outbreak
In response to the current market environment, oil major Shell has decided to reduce its operating costs by up to $4 billion in 2020 and to cut its capital expenditure from $25 billion to $20 billion.
Seacor Marine takes full ownership in liftboat business
Seacor Marine has acquired the remaining 28% of the equity interests in Falcon Global Holdings that it did not already own from Montco Offshore, resulting in 100% ownership of FGH by the company.
KenzFigee Inks MoU with Zamil Offshore
Dutch offshore lifting equipment provider KenzFigee and Zamil Shipyards, part of Zamil Offshore Services, have signed a memorandum of understanding (MoU) for a mutual cooperation in the Kingdom of Saudi Arabia. The deal will see the two companies provide offshore crane services and local constructio
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (March 16-22, 2020). Jenkins Marine Acquires Dredger C.H. Horn Jenkins Marine Ltd. has just announced the purchase of the grab hopper dredger C.H. Horn from the Poole Harbor Commissioners (PHC). Damen Steering a
Readers’ Picks of the Week (March 16-20, 2020)
Here are the most read stories of the previous week.
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (March 16 – March 22). https://subseaworldnews.com/2020/03/16/saipem-opts-to-buy-dlb-norce-endeavour/ https://subseaworldnews.com/2020/03/16/jfd-snaps-up-fathom-systems/ https://subseaworldnews.com/202
OKEA to postpone all sanction decisions for drilling and seismic programs
As a result of an unprecedented combination of a global pandemic coupled with a dramatic fall in oil prices, Norwegian oil and gas company OKEA will postpone all project sanction decisions and, where possible, further cancel sanctioned plans.
Norway’s Investment Company Buys Into Offshore Wind
Norwegian investment company Magnora ASA has acquired a stake in a 500MW shallow-water offshore wind project in Northern Europe. According to Magnora, the final transaction agreements for the offshore wind project have been signed. The cooperation with the founders and the development of the project
The Scope of Dredging in Russia Expected to Grow
The scope of dredging and hydraulic engineering works in Russia is expected to grow this year, informs the maritime industry media group PortNews. A series of 20 dredgers is to be built for operations on inland waterways with Damen sharing its innovative technologies with the industry. Those and oth
4 People on board Ruby Princess Test Positive to Coronavirus
Four people onboard Ruby Princess cruise ship have tested positive to coronavirus.
Dragflow to Deliver New Dredger to the States
Dragflow, an Italian producer of dredging equipment, announced today that their new massive dredge is about to be shipped to the USA. “Our massive dredge is almost ready to fly to USA,” the company said in the announcement. According to Dragflow, the new dredge is ready to take on a complex project
Bristow adapts three helicopters for transporting coronavirus cases
Offshore helicopter operator Bristow has configured three of its helicopters for transporting coronavirus cases.
Coronavirus Crisis: Hapag-Lloyd Prepares for a Difficult Year Ahead
Hapag-Lloyd expects a difficult year ahead that would result in necessary fleet adjustments and lower earnings.
Carnival Bracing for Net Loss in 2020 FY as a Result of COVID-19
Carnival Corporation expects to post a net loss for operations for the fiscal year ending November 30, 2020.