Business & Finance
Albwady Damen Raises the Bar
At the Albwady Damen yard in Sharjah, UAE, two standard cutter suction dredgers CSD500 have been built, the company announced today. These two dredgers mark the anniversary of 10-year building Damen cutter suction dredgers at this yard. “The stationary dredgers, built to dredge at max -14m, are read
Sif starts producing foundations for Japanese, French offshore wind farms
Dutch foundation manufacturer Sif has started the production of monopile foundations for the Akita-Noshiro and Saint-Nazaire offshore wind farms in Japan and France, respectively. According to the company’s latest trading update, the production started during the first quarter of 2020, when Sif also
Port of Esbjerg getting €134 million investment for offshore wind facilities
Nordic infrastructure fund Infranode is preparing an investment of up to kr. 1 billion (circa €134 million) for new infrastructure facilities at the Danish port of Esbjerg which will be used for the offshore wind industry. The investment will go into port facilities for storage, preassembly and manu
Ordtek nets TenneT’s German Bight UXO consultancy deal
UK-based unexploded ordnance (UXO) risk management company, Ordtek, has signed a three-year framework agreement with TenneT for services to be delivered for the German Bight wind farm zone in the North Sea. Ordtek said it would be providing UXO consultancy services and client representation ahead of
Merkur ownership change completed
The Renewables Infrastructure Group Limited (TRIG) and the Dutch pension investor APG have completed the acquisition of the 396 MW Merkur offshore wind farm. The consortium comprising of funds managed and/or advised by Partners Group (50%), InfraRed Capital Partners (25%), DEME Concessions (12.5%),
Prosafe contract hangs in the balance as Shell delays Shearwater work
The future of Prosafe’s contract for the Safe Zephyrus flotel with Shell is uncertain following Shell’s decision not to perform its previously planned work at the Shearwater field this year.
Mackley Returns to Shoreham for More Works
Mackley has returned to the West Sussex town of Shoreham to re-construct a river wall on the northern bank of the River Adur. The project is being carried out as part of a package of enabling works for Wates Residential – ahead of the construction of 500 residential units. To date works have compris
Baltic Exchange launches LNG, LPG ship expenses assessment
The London-based Baltic Exchange has launched a tool to provide quarterly assessments on the cost of operating liquefied natural gas and liquefied petroleum gas tankers. The Baltic Exchange said in a statement that data will be provided by independent third-party ship management companies. These com
Odfjell Drilling profit up despite oil price turmoil and COVID-19
Due to the limited impacted of the COVID-19 outbreak during the first quarter of 2020, offshore drilling contractor Odfjell Drilling was able to post a higher profit than in the first quarter of 2019.
TGS sinks on bottom line, cuts costs and investing
TGS saw profits slashed in the third quarter due to lower revenue amid challenging seismic market conditions.
Scorpio Bulkers delays scrubber installation on 13 ships
Monaco-based dry bulk shipping company Scorpio Bulkers has decided to postpone the installation of exhaust gas cleaning systems on thirteen of its vessels until at least 2021 as part of its cost-cutting measures. The bulk carrier owner said that the move is expected to delay the payment of between $
Boskalis First Quarter Results
The first quarter of 2020 was above expectations for Royal Boskalis Westminster N.V. (Boskalis). In light of the worldwide developments of the COVID-19 virus, Boskalis closed a good first quarter. According to the company, a modest increase in revenue was accompanied by a higher result compared to t
Yard lockdown pushes back Premier Oil’s project start-up
Oil and gas company Premier Oil has pushed back the forecast of first gas for the Tolmount project, located in the Southern North Sea.
CMA CGM obtains € 1.05 billion loan
French container shipping major CMA CGM has secured a €1.05 billion ($1.1. billion) syndicated loan, the company announced. As disclosed, the loan will be arranged by a consortium of banks BNP Paribas, HSBC France and Société Générale and it would be 70% percent guaranteed by the French Government.