Business & Finance
Witt O’Brien’s Acquires Crisis Communications Group Navigate
Witt O’Brien’s acquires Navigate.
ENGIE-EDPR Offshore Wind Joint Venture Clears Another Hurdle
The European Commission has approved the acquisition of EDPR Offshore España by ENGIE and EDP Renovaveis. EDPR Offshore España is a Spain-headquartered subsidiary of the EDP Group active in the offshore wind industry globally. The company would be the exclusive vehicle of both parties for offshore w
Saipem Reduces Q4 Deficit; Books €12M Profit in 2019
Italian offshore services player Saipem has reported fourth-quarter 2019 loss of €32 million on revenues of €2.35 billion. This result compares to net loss of €115 million on revenues of €2.47 billion in the prior-year comparable period. Adjusted result was net profit of €74 million, against €8 mill
UK oil major to leave three U.S. trade associations in push for low carbon future
UK oil major BP has said that, following an in-depth review examining the alignment of the climate-related policies and activities of trade associations with BP’s positions, it will leave three U.S.-based organizations in an effort to reach its target of becoming a net zero company by 2050.
FIMP Project Continues to Move Forward
New York Congressman Lee Zeldin announced yesterday that the Fire Island to Montauk Point (FIMP) Project continues to move forward and is now in its design phase. FIMP is an over $1 billion project that includes funding for essential dredging and shoreline projects spanning 83 miles of coastline, 80
Flex LNG Enjoys ‘Best-Ever’ Financial Results
Flex LNG announced its best-ever financial results with a net income of around USD 24 million for Q4 2019.
Moscow Dredging Congress Starts
The Third Hydraulic Engineering Structures and Dredging Congress, hosted by the maritime industry media group PortNews, officially kicked off in Moscow today. The Congress includes the 7th International Dredging Forum and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”. The
Takoradi Dredging Kicks Off
The Takoradi Port dredging operations, aimed to create a deeper depth to make it easier for bigger vessels to dock at the port, have officially started, Ghana News Agency reports. The dredging works would see the depth increase to 16 meters from the current 11 meters, while an approximately one mill
Keppel Completes FPSO Conversion under 7 Months
Keppel Shipyard has delivered FPSO Abigail-Joseph to Yinson Nepeta Production Ltd.
AquaTerra Acquires SETS
AquaTerra Group has extended its capabilities with the acquisition of the trade and assets of subsea engineering and technology business SETS. Formed in 2011, SETS is a focused primarily on conductor inspection and integrity, repair and maintenance. The company designs, manufactures and implements r
Offshore Wind Could Power Coastal China – Study
The researchers estimated that if electricity prices are high, offshore wind could provide more than 1,000 terawatt-hours, or about 36 percent of all coastal energy demand. If electricity prices are low, it could provide more than 6,000 terawatt-hours, or 200 percent of total energy demand.
Ørsted Backs Offshore Wind and Seaweed Farms Combo Project
Ørsted has signed a Letter of Intent (LoI) with the Dutch non-profit organization Stichting Noordzeeboerderij to together work on combining offshore wind and nature-inclusive seaweed farms. The collaboration will see the parties working on combining mooring solutions with nature development in multi
Impairments drag Subsea 7 into the red
Subsea 7 booked a loss in the last quarter of 2019 largely due to a $100 million impairment charge as its revenues dropped compared to the prior-year period.
Evers Announces $29M Harbor Grant to Port of Marinette
Wisconsin Governor Tony Evers yesterday announced a $29 million Harbor Assistance Program grant for improvements needed at the Port of Marinette to allow for the production of the next generation of navy ships. Fincantieri Marinette Marine, a premiere shipbuilder located at the port, intends to cont