Business & Finance
Subsea specialist 1CSI strengthens management team
Subsea integrity and inspection firm 1CSI has appointed new director, Richard Gibson to the company’s board. As a result of 38 years of experience in the oil & gas industry, Gibson brings experience and knowledge in business and product development. His appointment also reflects 1CSI’s strategy to g
Report Released on Cherry Sand Accident
The UK Marine Accident Investigation Branch (MAIB) officials have published report on the investigation of the man overboard from the dredger Cherry Sand that resulted in one fatality in the non-tidal basin at Port Babcock Rosyth, Scotland on 28 February 2019. According to the report, on 28 February
Germany considers taking minority stake in TenneT
TenneT is supporting the possibility of Germany taking a minority stake in the organization. In a letter to the Dutch Lower House of Parliament, Finance Minister Wopke Bastiaan Hoekstra presented his preferred scenario for meeting TenneT’s capital requirement as a result of rising investments, due t
Borr Drilling working to secure liquidity runway until 2022
Borr Drilling is working to secure a liquidity runway until 2022 even in an unlikely low scenario without any further contracts.
Van Oord Celebrates Milestone for the A16 Project in Rotterdam
An interesting video was released yesterday by Van Oord about the company’s role in the A16 motorway construction project in Rotterdam, the Netherlands. The first milestone for the project has been achieved with 1 million cubic metres of being brought and offloaded to the site. In total, about 4 mil
Report: Total secures $14.4 billion Mozambique LNG financing
French energy company and LNG player Total has reportedly secured $14.4 billion funding for its liquefied natural gas export project in Mozambique. The financing deal includes a group of around 20 lenders for the first phase of senior debt funding, Reuters reported on Thursday citing unidentified so
Analyzing the Performance of TSHDs
The optimal design of an efficient and cost-effective dredger requires extensive knowledge. As a designer and manufacturer of complex, high value vessels and equipment, it is important for Royal IHC to know how they are performing once in the field. This information is not always available, but with
New CEO to join Noreco in July
Oil and gas company Noreco has appointed David B. Cook as the new Chief Executive Officer with effect from 1 July 2020.
Spotlight on on Nature-Based Solutions
The International Association of Dredging Companies’ (IADC) latest edition of their Terra et Aqua magazine featured a very interesting article named ‘Can nature-based solutions be mainstream solutions?’ The concept of nature-based solutions (NBS) is relatively recent. It has emerged during discussio
German shipbuilders and equipment suppliers brace for ordering slump
Due to the economic impact from the ongoing COVID-19 pandemic, the German Shipbuilding and Ocean Industries Association (VSM) expects the demand for the construction of new ships to be low for a longer period of time. The shipbuilding sector has been experiencing weak demand since 2016, with an over
Sarb Inauguration VIDEO
National Marine Dredging Company (NMDC) inaugurated the backhoe dredger Sarb earlier this week in the Netherlands. The inauguration comes as a part of NMDC’s international growth and fleet investment strategy which is aimed at positioning the company as a leader in the industry. The contract for the
Wintershall Dea books quarterly loss, cuts capex
Wintershall Dea has decided to reduce its capital expenditures for 2020 by 30 per cent after booking a loss in the first quarter of the year amid low oil price environment.
Annual Aberdeen Harbor Dredging Campaign Completed
Aberdeen Harbor Board has completed its annual dredging program despite the impacts of COVID-19 and challenging weather conditions. Yearly dredging is required to maintain essential water depth in North Harbor. More than 54,000 cubic meters (in-situ volume) of material has been dredged from the harb
Total renegotiates terms of non-core North Sea assets sale with NEO Energy
HitecVision and NEO Energy have renegotiated terms for the acquisition of a portfolio of operated and non-operated assets in the UK North Sea from French oil major Total.