Business & Finance
Scorpio Tankers bolsters liquidity, defers scrubber projects on 19 tankers
Monaco-based tanker owner and operator Scorpio Tankers has secured additional liquidity having received new loan commitments for debt repayment. The company said it had received a commitment for a new credit facility for up to $225 million. The loan, still to be finalized, is expected to consist of
Maersk Supply to axe jobs amid negative development in oil and gas market
Maersk Supply Services, a Danish offshore supply vessel provider, has decided to reduce its onshore organization due to challenging oil and gas market situation. In response to the negative development in the oil and gas industry, Maersk Supply Service said on Wednesday that it would reduce its onsh
Jan De Nul in 2019: Challenging Year for Dredging
Jan De Nul Group has just released their business figures for the past year, saying that in line with previous years, 2019 remained a challenging year for international dredging activities. Market conditions have not yet revived public and private investments. On the other hand, activity in the offs
East Anglian offshore wind supply chain eyeing US market
Norfolk & Suffolk Unlimited is looking to export its supply chain expertise to the U.S. offshore wind market. A preliminary online event organized with the City of Virginia Beach saw 20 local businesses meet with operators and developers involved in the 2.6 GW Coastal Virginia Offshore Wind (CVOW) p
Bogojevo and Prahovo Expansion Plans on Display
The Ministry of Construction, Transportation and Infrastructure of the Republic of Serbia has awarded contracts for the preparation of technical documentation for the expansion of the Danubian ports of Bogojevo and Prahovo to two consortia. The contract for the expansion of Bogojevo Port is worth $7
Aker BP swings to loss over impairment charges
Aker BP sank to a net loss in the first quarter of the year after being hit by impairments due to a significant decline in oil and gas prices.
Greensea boosts European footprint with Wight Ocean
Richmond-based marine robotics firm Greensea is expanding its international presence to meet demand for its navigation, control, autonomy, and human-machine interface technology. Newport-based Wight Ocean will represent Greensea products to customers across Europe. This will include the Greensea INS
Petrofac bags $100 million in contract renewals
Oilfield services provider Petrofac has secured contract renewals in the UK totalling $100 million.
Van Oord details French offshore wind work
Van Oord is set to start its offshore operations at the French Saint-Brieuc offshore wind farm in 2021 with the installation of pin piles. The Dutch company will use its installation vessel Aeolus, which will in 2022 be assisted by a second vessel to install the jackets foundations. In April, Van Oo
Norden had its best first quarter since 2015
Although the first quarter of this year was characterised by weak spot rates in dry cargo and strong spot rates in tankers, Danish shipping company Dampskibsselskabet Norden A/S delivered an adjusted result of $29 million, compared to $7 million seen in Q1 2019.
Siemens Gamesa reports € 56 million COVID-19 hit in Q2 2020
The ongoing COVID-19 pandemic affected Siemens Gamesa’s operations and commercial activity, leaving a € 56 million mark on the company’s profitability in its second quarter of the fiscal year 2020 (January–March). Siemens Gamesa adjusted its operations to employ COVID-19 health and safety measures,
Equinor to close Hammerfest LNG plant for maintenance
Norwegian energy giant and LNG operator Equinor will be closing its Hammerfest liquefied natural gas export plant as part of planned maintenance in May. Equinor will shut down the liquefaction facility located on Melkøya Island for two weeks starting in the second half of this month. The closure of
Equinor divests Lundin shares after boosting exposure in Johan Sverdrup
Norwegian oil and gas company Equinor has divested its minority shareholding in Swedish oil and gas company Lundin Energy.
Red ink for Repsol amid sharp drop in oil and gas prices
Repsol posted a significant quarterly loss after being hit by volatility and decline in oil and gas prices, but it delivered an increased output during the period.