Business & Finance
PGS raises cost-cutting as it sinks to wider loss
PGS has seen its Q1 2020 loss widened, mostly on impairments related to library and sale of non-current assets. The Oslo-listed seismic player reported quarterly loss of $117.5 million, or 32 cents per share on revenues of close to $129 million, against loss of $65 million, or 19 cents per share on
Early terminations and day rate reductions for Valaris rigs
Valaris has seen a number of its drilling contracts terminated and day rates slashed as oil and gas operators are looking to reduce costs.
TechnipFMC books $3.25B loss; cuts execs pay and dividend
TechnipFMC has reported first-quarter 2020 loss of $3.25 billion or $7.28 per diluted share against $21 million profit same time last year. The services major has seen the results affected by after-tax charges and credits totaling $7.17 per share, primarily driven by non-cash impairment charges. Tec
Borr takes another rig delivery from Keppel
Singapore’s offshore rig builder Keppel Offshore & Marine has delivered a newbuild jack-up rig, named Hild, to Borr Drilling.
U.S. SEC closes Eni investigation
The U.S. Securities and Exchange Commission is closing its investigation into Eni related to its involvement into a license located offshore Nigeria as well as its activities in Congo.
TSHD River Thames Joins DEME Fleet
Royal IHC has successfully handed over the 2,500m³ trailing suction hopper dredger (TSHD) River Thames to DEME. The vessel, designed and build by IHC, is based on the 2,300m³ TSHD Lesse, delivered to Baggerbedrijf de Boer by IHC in 2019. The dredger is designed to maintain sea and inland waterways,
CEDA’s Statement on COVID-19 Outbreak
Since the outbreak of the COVID-19 virus, and the consequent containment measures taken by national governments, the dredging industry has adapted quickly to the changing circumstances in order to guarantee the safety of their employees, and the direct project environment, and ensure that important
Kobelco BM700 in Castletownbere
Dungiven, Northern Ireland-based Ideal Form Crane Hire has supplied a Kobelco BM700 to marine, civil engineering and building contractor Keating Construction for work on the expansion of the Dinish Wharf in Castletownbere, County Cork, Ireland. The €23 million (£19.95 million) expansion, which inclu
Minister Vrtovec Tours Port of Koper
During the Minister of Infrastructure Jernej Vrtovec’s recent visit to the Port of Koper, the management board of Luka Koper has introduced the latest info about their ongoing and future infrastructural projects to the minister. The ministerial delegation took an overview, among other things, of the
Hapag-Lloyd slashes its emissions by 50 percent, schedules boxship LNG conversion for Q4
German container shipping major Hapag-Lloyd has cut its CO2 emissions per TEU kilometre by 50 percent when compared to the reference year of 2008, the company said. The goal was achieved through economies of scale as the company introduced bigger and more efficient ships with improved water resistan
Vestas to lay off 400 people, close temporary offshore wind facility
Vestas will lay off around 400 employees on functions that do not directly support the wind turbine supplier’s 2020 deliveries.
Equinor makes changes in exploration leadership
Norwegian oil major Equinor has appointed a new executive vice president of its Exploration division.
Polish Q1 LNG imports rise
Poland is continuing to increase imports of liquefied natural gas via its only import facility in Swinoujscie as it is looking to reduce reliance on pipeline gas imports from Russia. Poland’s dominant gas firm PGNiG said in a preliminary operating report on Tuesday that it imported 0.98 billion cubi
Critical Flood Defense Work to Start in Hull
A £42 million tidal flood defense scheme taking place in Hull has started construction work at the city’s historic estuary frontage. This critical work is essential to maintaining and improving Hull’s flood defenses, and is being carried out in accordance with government guidelines for safe working