Qatar-based marine transport and logistics conglomerate Qatar Navigation (Milaha) has seen its net profit drop by some 33 percent for the first quarter of the year ended March 31, 2017. Namely, the company ended the quarter with a net profit of QAR 236 million (USD 64.8 million), significantly lower
DeepOcean has been awarded a contract for the provision of post-lay trenching and backfilling works on 56 kilometers of power cable offshore United Arab Emirates (UAE). The contract follows two completed projects offshore UAE in 2016 and early 2017. The post-lay trenching and backfilling works are p
Tony Hayward, former CEO of the oil major BP, is leaving his chairman position at Genel, an independent oil and gas exploration and production company. Genel said on Monday that Hayward would retire as a director and chairman of the company at the conclusion of the 2017 annual general meeting which
Oil tankers experienced a tough start to 2017 as freight rates for all crude oil and oil product tankers continued their decline following the brief lift at year-end, according to international shipping association BIMCO. Although average earnings stood at USD 18,853 per day by April 7, 2017, down f
In a time dominated by smart technology and automation being applied across the board, from industrial production to our homes and smart phones, we are witnessing an advancement of this technology in the marine sector as well aimed at making even ships autonomous. World Maritime News spoke with Oska
Bureau Veritas (BV), a provider of testing, inspection, and certification services, has been awarded a contract by Noble Energy for independent verification of development executions on the Leviathan project, offshore Israel. BV said on Monday that it would provide an independent assessment of compl
Offshore rig builder Lamprell has made changes to its board and senior management following a successful transition to the new chief executive officer. Lamprell said on Monday that John Kennedy decided to stand down from his position as executive chairman and to resume his role as a non-executive ch
Tidal Energy Today has compiled the top news from tidal and wave energy industry from April 17 – 23, 2017.
Dredging Today brings you an overview of the most popular stories from the past week (April 17-23, 2017). New Contracts for DEME in Germany, France, UK and Spain DEME’s German subsidiary Nordsee Nassbagger- und Tiefbau GmbH, based in Bremen, has acquired the maintenance dredging contract on the Ri
Pressured by difficult markets and periods of economic uncertainty, shipping companies often turn to pool arrangements, not being aware of the financial, tax and jurisdictional implications of participating in such deals. As “shipping pools can be an attractive option,” the international accountant
Offshore drilling contractor Rowan Companies has been awarded more work for its jack-up drilling rigs in Saudi Arabia, Norway, and the U.S. Gulf of Mexico. According to its latest fleet status report on Wednesday, Rowan has been awarded a contract extension for the Gilbert Rowe jack-up drilling rig
MR tanker Stena Imagination was named at the Port Rashid Terminal in Dubai on April 18. The vessel is jointly owned on a 50-50 basis by Swedish Stena Bulk and Indonesian Golden Agri Resources (GAR). “Naming the Stena Imagination in Dubai is very much a strategic choice. Stena Bulk recently opened an
Abu Dhabi’s national energy company TAQA has elected a new board of directors following the end of the previous board’s three-year term. TAQA said on Wednesday that the previous board of directors had overseen the completion of a two-year transformation program, delivering cumulative savings of AED
With the launch of the new carrier alliances on the east-west trades on April 1, 2017, the demand for vessels and the final tally of containership tonnage is set to increase by 5% in TEU capacity and by 4% in vessel count compared to March, according to Alphaliner. Compared against the peak season d
