Business & Finance
GMS rejects takeover offer from Seafox
Abu Dhabi-based Gulf Marine Services (GMS) has turned down a USD 32 million takeover offer from Seafox International saying that the offer ”fundamentally undervalues GMS”. As reported earlier, Seafox submitted an unsolicited and non-binding possible cash offer for the entire issued and to be issued
Seabased joins Ocean Energy Europe board of directors
Swedish wave developer Seabased is joining the Ocean Energy Europe board of directors as a lead partner. As a member of the board, Seabased VP Marcelle Askew will play an role in steering the strategic direction of the association and in ensuring that wave energy reaches its full industrial potentia
Orca Oceanic Systems in new contract wins
Orca Oceanic Systems (OOS), an equipment and dive system company, has secured three contract awards during the month of April. The contracts are adding in excesses of £1.75 million to OOS’s order backlog for 2020. Mike Masson OOS’s managing director said: “It is a monumental achievement by the OOS t
Solstad and Ocean Yield agree another standstill extension for AHTS duo
Shipowning company Ocean Yield and Solstad Offshore have agreed to further extend the standstill period for two anchor handlers.
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (April 27-May 3, 2020). Gulf of Ob Dredging Deal Inked FSUE Hydrographic Company and Mordraga have signed an agreement for reconstruction of the Gulf of Ob seaway canal where the Novatek’s Utrenny terminal is bein
Borr Drilling sells two jack-up rigs
Borr Drilling has decided to sell two jack-up rigs for total cash proceeds of $15.8 million.
CSD Willem van Rubroeck Arrives in Poland
Jan De Nul Group’s largest cutter suction dredger (CSD) Willem van Rubroeck has successfully arrived at the Remontowa shipyard in Gdansk, Poland. The trip on board of the semi-submersible transport vessel ‘Hua Yang Long’ took 2.5 weeks. The vessel was unloaded offshore and then towed to the shipyard
UK approves IOG’s plan for North Sea development
The UK Oil & Gas Authority (OGA) has approved IOG’s field development plan for the Core Project Phase 1 located in the UK North Sea.
Dredging Accident Caught on VIDEO
Dredging Today team has just found this frightening video of an accident during a dredging project. The man operating the excavator had just jumped out of the cab at the last minute. Unfortunately, equipment fails and drownings are common accidents among dredge workers. Each type of dredger uses spe
Polarcus shrinks deficit; preps for market uncertainty
Marine seismic player Polarcus has cut its deficit in Q1 2020 despite slightly lower revenues on improved pricing compared to prior year. The Oslo-listed company reported loss for the Q1 2020 of $4.2 million, on revenues of $66.3 million, versus loss of $5.3 million and revenues of $67.1 million in
Fugro to downsize workforce by 10 per cent
Dutch subsea and survey specialist Fugro said it will reduce its workforce by up to 10 per cent due to challenging market situation. The company posted loss before interest and taxes of €26 million for the first quarter 2020, against loss of €19 million in Q1 2019. Fugro recently announced a program
Impairments take Transocean deeper into the red
Transocean recorded a wider loss in the first quarter of 2020 when compared to the same period last year due to impairments on assets.
Gasum closes Linde’s LNG and biogas business buy
The Nordic energy company Gasum closed the acquisition of Linde’s LNG and biogas business in Sweden and Norway.
Frederikshavn: Removal of Old North Breakwater Underway
Removal of the old north breakwater has officially started, Port of Frederikshavn, Denmark, said in their latest announcement. The entire north breakwater incl. the breakwater head is to be removed in connection with the establishment of the new quay area by Østre Kaj, which is to create space for O