Business & Finance
Louisiana Coastal Restoration Projects Get $30M Boost
Two NOAA-sponsored habitat restoration projects in Louisiana have been approved for $30 million in funding in 2020 by the Coastal Wetlands Planning, Protection, and Restoration Act (CWPPRA) Program. According to NOAA, these projects will restore habitat along Louisiana’s coast, increase protection f
Fugro Gets $40M from Global Marine Group Sale
Fugro is set to cash in close to USD 40 million from the sale of Global Marine Group (GMG) through its ownership of 23.6% in GMG. As reported earlier, a subsidiary of Global Marine Holdings, in which Fugro holds a 23.6% equity interest, has entered into a definitive agreement to sell 100% of GMG, ex
Portsmouth Dredging Starts in Early February
Surveying and maintenance dredging of the HMNB Portsmouth is set to begin in early February, informs the Queen’s Harbor Master Portsmouth. According to the notice, dredging will be conducted in the maintained areas within Portsmouth Harbor and its approach channels from 9 to 20 February 2020. The co
MacArtney Supports INFN Project in Mediterranean Sea
MacArtney said it will soon supply and test several underwater connectors for INFN – the National Institute for Nuclear Physics. INFN for the IDMAR Research Infrastructure in Sicily supports, among others, the KM3NeT (Cubic Kilometre Neutrino Telescope) infrastructure in the Mediterranean Sea. MacAr
Fugro to earn $40 million from Global Marine Group stake sale
Dutch geotechnical services provider Fugro expects to earn around $40 million from the sale of HC2 Holdings’ subsidiary Global Marine Group (GMG).
ONE: Vessels Maintaining Normal Port Calls in Greater China
ONE: Container operations in Greater China continue to operate as usual.
Costa Smeralda Passengers Allowed to Disembark after Coronavirus Scare
The Italian authorities banned anyone from disembarking the ship until medical tests were conducted.
Bpifrance Becomes Signatory to the Poseidon Principles
French national investment bank Bpifrance signs up to the Poseidon Principles.
Lundin to increase spending in 2020 by 30 pct
Swedish oil and gas company Lundin Petroleum has increased its 2020 budget by 30 percent compared to the last year and boosted its production guidance for the year with expectations for long-term growth. Lundin said on Friday that its 2020 development, appraisal, exploration and abandonment budget w
Annisquam River Dredging Program Moves Ahead
The U.S. Army Corps of Engineers, New England District, yesterday announced the latest update on their Annisquam River dredging project in Gloucester, MA, saying that roughly 100,000 CY (of 140,000 CY) of material was successfully removed so far. The USACE New England District awarded this contract
Navibulgar Returns to China for Four More Bulkers
Navibulgar ordered the construction of a new series of Handysize bulkers.
Global Marine Group Gets New Owner
Headquartered in Chelmsford, UK, GMG owns and operates a fleet comprising three specialist cable installation and repair vessels, four maintenance vessels, and 19 crew transfer vessels. Additionally, the company has a range of subsea equipment including eight trenchers and working class ROVs.
Total awards maintenance and support gig in UK to Aberdeen newcomer
Total UK has awarded a general maintenance and operations support contract to PBS, a recently formed Aberdeen-based consortium.
JFLCO Snaps Up Global Marine Group
Global Marine Holdings, in which HC2 holds an approximate 73% equity interest, has entered into a definitive agreement to sell 100% of Global Marine Group (GMG) to an investment affiliate of J.F. Lehman & Company (JFLCO). The sale includes GMG’s operating subsidiary Global Marine Systems, a provider