Business & Finance
Spain’s Enagas logs 14.7% profit hike
Spanish LNG terminal operator Enagas reported a 14.7 per cent rise in first-quarter profit as it saw no impact from the Covid-19 coronavirus pandemic. The company said net profit in the first quarter increased to 119 million euros ($128.8 million), up from 104 million euros in the same period a year
DFDS puts 12 ferries in lay-up due to demand drop
Danish ferry and logistics company DFDS has put 12 out of its 50 ferries in layups as a response to a drop in demand prompted by the COVID-19 lockdown measures which have slashed passenger volumes. Since mid-March, DFDS has suspended two passenger routes, Copenhagen-Oslo and Amsterdam-Newcastle, whi
DEME to Begin Poland Dredging Gig
Under a clear blue sky DEME Group cutter suction dredger ‘Amazone’ is setting sail from its homeport in Belgium to Poland to kick-off the dredging works at the Świnoujście – Szczecin fairway. The fairway provides access from the Baltic Sea, starting at the city of Świnoujście up to the Port of Szcze
The Switch: Why can’t governments respond to climate change the same way they did to COVID-19?
The COVID-19 pandemic has changed the way the world functions as governments and leaders across the globe have implemented unprecedented measures to curb the spreading of the virus. The life as we know it changed completely with factory lockdowns, closures of unessential services and stay at home or
Wärtsilä’s scrubber order intake takes a hit as fuel price spread narrows
The Finnish technology group Wärtsilä has reported a 12 percent order intake fall during the first quarter of 2020 as a result of the global measures aimed at curbing the spread of the COVID-19 pandemic. The order intake was worth EUR 1.2 billion when compared to EUR 1.4 billion in the same period l
New Pumping Control System from Dragflow
Dragflow has introduced their new Pumping Control System that allows operators and site managers to have a clear vision of the dredging operation. Control Package can be applied to any Dragflow Equipment: from a simple stand alone Pump to a complete dredger, said the company. The system is managed t
Rever Offshore nets Perenco UK contract in North Sea
Rever Offshore has been awarded a major contract from Perenco UK in the Southern North Sea. The contract was awarded as a part of the larger Southern Hub Area Redevelopment Project (SHARP), comprising two campaigns which will take place over the course of the next 18 months. Under the contract, Reve
MHI Vestas launches UK offshore wind apprentice programme
MHI Vestas has launched a new offshore wind technician apprentice programme in northeast Scotland. The apprentices will initially be based at Fraserburgh College Campus (NESCol) carrying out both classroom and workshop activities. This will be followed by practical work experience at offshore wind f
Delonex Energy boss named as new Tullow Oil CEO
Oil and gas company Tullow Oil has appointed a new chief executive officer (CEO) and executive director of the company.
Seismic industry braces for major revenue drop
Seismic industry will suffer the most as a result of the Covid-19 pandemic and the low oil price. According to Rystad Energy, 2020 revenues could fall between 51 per cent and 77 per cent. Exploration spending could drop by more than 20 per cent from its 2019 levels. The hardest-hit area will be the
Eni extends charter for KNOT Offshore’s shuttle tanker
Italian oil major Eni has extended the charter of KNOT Offshore Partners’ shuttle tanker Torill Knutsen.
OPEC+ production cuts have dire implications for oil tankers
The agreement of the members of OPEC and its allies to cut oil production by 9.7 million barrels of crude per day is not believed to be enough to offset the massive demand drop and will certainly have dire implications for the oil tanker shipping market. “The first quarter of 2020 has been one of [&
TV Dredging to Build New Dredger for Royal Smals
Koninklijke Smals has ordered a fully-electric deep suction dredger at TV Dredging BV. The new vessel, a custom build dredger, will be used for sand extraction. The jointly designed vessel, measuring 22,00m long and 7,51m wide, will have a dredging depth of 27,30m. The totally installed power is 100
Vår Energi creates new VP role for Aker Energy man
Norwegian oil and gas company Vår Energi has named Bjørn Thore Ribesen as its vice president Field Development & Projects.