Business & Finance
Ardmore CEO: A second round of strong tanker rates likely
A global oversupply of oil resulting from lower demand due to the COVID-19 pandemic and high production level has seen the unprecedented shortage of storage capacities translating in high rates for floating storage. Tanker owners have been reporting high earnings for the first quarter of this year a
SeaTwirl names new CEO
The Board of Directors of Swedish wind power company SeaTwirl has appointed Peter Laurits, Vice Chairman of the Board, as the company’s new CEO, effective immediately. With Laurits now taking the helm, the interim CEO Peter Schou, who was heading the company during the spring, will work in parallel
DEME Wraps Up San Pedro Job
In Ivory Coast, DEME Group recently completed a challenging capital dredging project for the extension of the Port of San Pedro, the second largest port in the country. “With our trailing suction hopper dredgers ‘Marieke’ and ‘Orwell’ we deepened the access channel and executed land reclamation work
Forum sinks deeper in the red
Forum Energy Technologies has recorded loss in the first quarter 2020 of $37 million, or 33 cents per diluted share, compared to loss of $8 million, or $7 cents per diluted share, for the prior-year comparable period. Sequentially, Forum widened its loss from $11 cents per diluted share, with revenu
Viewport3 marks remote 3D scanning service boosts
Aberdeen-based 3D scanning specialists Viewport3 said it has seen record uptake of its new service offering. After the recent launch of its new remote data capture service, the company secured four contracts valued at £100,000. Split between existing and new clients, these contracts have an internat
Maersk Drilling in new round of layoffs
Offshore drilling company Maersk Drilling has decided to take another swing with the job axe and lay off even more staff.
Energinet setting up geoscience services supplier qualification system
Energinet is establishing a supplier qualification system (SQS) for the procurement of offshore and onshore geophysical and geotechnical work. The Danish transmission system operator is inviting responses for seven categories, including offshore geophysical and geotechnical site investigations, as w
First Electric 20-tonne Excavator in the Netherlands for Van Oord
Van Oord and Pon Cat recently signed the agreement to purchase the first fully electric excavator in the Netherlands. By means of this investment and the deployment of this unique equipment on its infrastructure projects from May of this year, Van Oord is taking a new step towards reducing its CO2 e
Bomb Goes Off While Dredging Immingham Approaches
While working on the busy waters of the Humber, ABP’s dredging team yesterday witnessed the explosion of an undiscovered World War II bomb. According to the release, UK Dredging – the dredging company owned by ABP Group – were completing routine maintenance dredging of the Humber, when they heard a
Pacific Drilling improves in first quarter but expects challenging times ahead
Despite posting a loss in the first quarter of the year, offshore drilling contractor Pacific Drilling has had an overall better first quarter than the one in the year prior, but the company is preparing itself for ‘challenging times’ ahead.
Three Contracts with Arab Potash Company for Royal IHC
Royal IHC has signed three contracts with the Jordan-based Arab Potash Company (APC) to deliver two cutter suction dredgers (CSDs) and implement a new maintenance agreement. The first contract comprises the delivery of a custom-built CSD, the second is a three-year maintenance contract for the IHC d
Analysts warn of multi-year blow in umbilicals segment
The Covid-19 pandemic could see demand for umbilicals fall by 32 per cent this year, Rystad Energy impact analysis reveals. According to Rystad, expected demand could fall to just 713 kilometres of lines in 2020, from 1,041 kilometres last year. Umbilical demand will not match or exceed 2019 levels
PHOTO: Blankenburg Connection Contours Take Shape
The contours of the Blankenburg Connection in the Netherlands are now clearly taking shape, DEME Group said in their latest announcement. BAAK, the consortium including Ballast Nedam and DEME, is building the new road connection between the A20 at Vlaardingen and the A15 at Rozenburg. “The new highw
EMEC appoints commercial director
The European Marine Energy Centre (EMEC) has appointed Matthew Finn as commercial director. Matthew has worked in the ocean energy sector for the last 14 years. In his previous role as EMEC’s commercial manager, he built up a long-term pipeline of projects for the company including flagship initiati