Business & Finance
Maersk braces for $100 M restructuring charge over 2,000 job cuts as it lifts Q3 outlook
Danish shipowner Maersk expects to take a restructuring charge of around $ 100 million in the third quarter of 2020 related to the redundancies of around 2,000 employees. The redundancies are part of the internal reorganization announced last month, mostly affecting the major’s Ocean and Logistics &
COP sets up floating wind competence centre in Scotland
Copenhagen Offshore Partners (COP) has opened an office in Edinburgh, Scotland, which will serve as its global floating offshore wind competence centre. The Denmark-headquartered company said Edinburgh was the ideal place for it to launch the growth of its floating wind ambitions. According to Richa
Scottish cluster sets up floating wind group
Scotland’s DeepWind cluster has formed a new group dedicated to the floating offshore wind sector in Scotland and the UK. The subgroup has been set up to make sure Scotland’s energy supply chain companies benefit from new floating offshore wind projects in Scotland and the UK. Its aim is to develop
KfW IPEX-Bank finances Finnlines’ hybrid RoRo ship
Germany’s bank KfW IPEX-Bank and Finnish ferry operator Finnlines, part of Italy’s Grimaldi Group, have signed a €40 million (around $47 million) loan agreement to finance a hybrid roll-on/roll-off (RoRo) vessel.
Stena Drilling drillship wins work in the Mediterranean
Offshore drilling contractor Stena Drilling has won a new contract for its ultra-deepwater drillship Stena Forth in the Mediterranean Sea offshore Israel.
Petrofac CEO to retire after 30 years. Former Shell VP to take his place
Group chief executive of oilfield services provider Petrofac has decided to retire at the end of the year.
Høglund Marine acquires two-thirds stake in Vindskip
Norway-based marine technology provider Høglund Marine Solutions has taken a two-thirds stake in Vindskip AS, a company developing a wind and LNG-powered vessel concept.
Ocean Sun seeks stock exchange share listing
Norwegian floating solar specialist Ocean Sun has engaged the services of Fearnley Securities to execute a contemplated private placement of the company’s new ordinary shares.
Wage settlement ends oil strike in Norway
Norwegian oil firms were able to strike a wage bargain with officials of labour union Lederne on Friday, ending a 10-day strike which threatened to cut the country’s oil and gas output by almost 25 per cent.
MV Werften secures fresh round of funds to stay afloat
German shipbuilder MV Werften, part of Genting Hong Kong (GHK), has received a €193 million (about $227 million) state-supported loan to complete the cruise ship Crystal Endeavor for delivery and keep the shipyard operations till March 2021.
Norway’s striking labour union, oil firms to meet with mediator
Oil firms and labour officials in Norway will meet on Friday with a state-appointed mediator to try to end a strike threatening to cut output from the country by some 25 per cent.
Bombora lines up multiple mWave suppliers
Welsh-based Bombora Wave Power has awarded several contracts to support the fabrication and subsequent testing of its mWave energy device.
Welsh business hires Scottish wave energy power take-off unit
Marine Power Systems (MPS) has selected Quoceant as a contractor for the delivery of the first stage of WaveSub energy device’s power take-off design.
Havyard extends closure as 75 people test positive for COVID-19
A total of 75 people associated with Norway’s shipbuilder New Havyard Ship Technology AS, part of Havyard Group, have tested positive for the coronavirus, further extending the closure of the yard. The Leirvik-based shipyard temporarily halted activities on September 30, after four infection cases w