Business & Finance
EU approves Finnish aid scheme to support maritime firms hit by coronavirus
The European Commission has approved a €600 million (about $671 million) Finnish guarantee scheme to support the maritime companies in the context of the coronavirus outbreak.
France: Siemens Gamesa wind turbine plant to be ready by 2022
Siemens Gamesa has selected a consortium led by GTM Normandie-Centre for the construction of its offshore wind turbine plant in Le Havre, France. The 20-hectare factory, to be built on the Quai Joannès Couvert in the Port of Le Havre, will be the first in the world to manufacture all main offshore w
Solstad Offshore promotes finance director to CFO role
Norwegian offshore vessel provider Solstad Offshore has picked a new chief financial officer (CFO).
DCO decision delayed again for Hornsea Three offshore wind project
The UK Secretary of State for Business, Energy and Industrial Strategy (BEIS) has postponed the statutory deadline for the Hornsea Project Three development consent order (DCO) application to 1 July. As reported, the DCO decision was supposed to be announced on 1 June for the Hornsea Project Three,
Fécamp offshore wind farm enters construction stage
The consortium comprising EDF Renewables, Enbridge, and wpd has launched the construction of the Fécamp offshore wind farm in France, following the finalisation of agreements with its financial partners. French transmission system operator RTE will start onshore construction works this month. RTE is
Aker Solutions CFO to leave
Norwegian engineering company Aker Solutions has said that Ole Martin Grimsrud will resign as its chief financial officer (CFO). Grimsrud will leave the company 1 September 2020 to pursue other opportunities, Aker Solutions said Tuesday. Aker Solutions appointed Grimsrud as chief financial officer i
Seadrill takes $1.2 billion impairment and moves to ditch NYSE listing
Seadrill booked a huge loss in the first quarter of the year due to impairment charges amid a significant reduction in global oil demand.
New ops manager for Underwater Cutting Solutions
Underwater Cutting Solutions (UCS), an Ashtead Technology company, has named Richard Lind its new operations manager. Lind will lead operations from the company’s Inverurie, Aberdeenshire base, assisting UCS General Manager Fraser Collis. Previously of Claxton Engineering, Lind brings BD and commerc
Loss grows for Eco Wave Power
Eco Wave Power has reported a wider net loss for the first quarter of 2020 with no revenues and increased costs. The wave energy technology firm booked a loss of SEK 4.4 million (USD 466,000/EUR 419,000), increasing from SEK 1.7 million a year earlier. Operating costs almost doubled to SEK 1 million
Van Oord inks green loan for LNG-powered dredgers
Dutch marine contractor Van Oord has signed its first green loan that will be used to fund its new liquefied natural gas-powered dredgers. The company said in a statement it signed the loan with Dutch Rabobank and France’s BNP Paribas last month. Van Oord structured the loan according to green loan
Klaveness: CLEANBU vessel Barracuda makes 1st switch from dry cargo to jet fuel
Klaveness Combination Carriers’ (KCC) CLEANBU vessel MV Barracuda completed last week the first voyage carrying a part cargo of jet fuel to Korea after discharging its previous cargo of soya beans in China in early May.
Ineos farms out two Norwegian licenses to Lime Petroleum
Rex International’s 90 per cent subsidiary, Lime Petroleum, has completed the acquisition of a 15 per cent stake in two Ineos’ Norwegian Sea licenses.
IOG hires Petrofac for well management job in North Sea
Petrofac has secured a well management contract for Phase 1 of Independent Oil and Gas’ (IOG) Core Project located off the UK.
WE Tech nets contract for Shell-chartered LNG carriers
Finland’s WE Tech Solutions has won a contract to supply equipment to eighth liquefied natural gas carriers that will go on charter to LNG giant Shell. WE Tech says it will start supplying its equipment in February 2021. The delivery package includes two sets of direct drive permanent magnet shaft g