Business & Finance
Saipem withdraws 2020 guidance over deteriorating market conditions
Saipem has decided to withdraw its 2020 guidance, reserving the right to issue a new one should the market conditions improve.
PDi gets new business acquisition director
Project Development International (PDi) has appointed Gavin Stevenson as its business acquisition director. Stevenson Brings over 30 years of subsea and deepwater oil and gas experience to PDi, part of the Tattva Group. He has served in a variety of senior technical and managerial positions. They co
Van Oord Presents Annual Report and Changes to the Board
The General Meeting of Shareholders of Van Oord N.V. was held on 15 April 2020, during which the 2019 Annual Report was presented and a change of the supervisory membership was approved. After almost 12 years as a member of the Van Oord Supervisory Board, Mr Koos van Oord has formally stepped down.
IKM Testing secures work on Equinor’s Johan Castberg FPSO
Norwegian oil major Equinor has awarded a comprehensive and long-term testing contract on the Johan Castberg FPSO to IKM Testing.
Hexatronic in new submarine cable deals
Hexatronic Cables & Interconnect Systems has recently signed multiple agreements for fiber optic submarine cable. The total value of the agreements amounts to SEK 40 million, of which most of it is from new customers in several different countries such as the Philippines, Honduras, Ghana, St. Maarte
Baleària’s earnings rise in 2019
Spanish shipping company Baleària wrapped up 2019 with turnover and EBITDA growth of 19 per cent.
Monjasa reaps fruit from IMO 2020 preparations
Danish bunker company Monjasa reported an improved business performance on the back of the sulphur cap regulation that entered into force on January 1, 2020, marking a global transition of ships to cleaner fuels. The company said that its volumes were up by 10 per cent reaching 4.5 million metric to
SSE Renewables issues roadmap to tackling offshore wind deployment barriers in UK
SSE Renewables has warned that the cost of offshore wind will not be the reason for the UK missing its target of 40 GW of offshore wind capacity by 2030, but rather the significant barriers to deployment, many of which are increasing. The barriers the industry is currently facing range from consenti
Vattenfall champions UK offshore wind supply chain rejig
Vattenfall is calling on the UK government and offshore wind industry to make different procurement approaches so more local businesses are able to supply new-generation projects. In its Norfolk Vanguard and Norfolk Boreas Offshore Wind Supply Chain: Opportunities and Expectations Workshop Report, V
Baars Pontoon for the IJmuiden Sea Lock Project
Baars Charter BV – a company specialized in the rental and sale of modular pontoons, dredging containers, split and hopper barges – recently supplied one of its pontoons for the IJmuiden Sea Lock Project in the Netherlands. According to the company, this large 17 x 36 meter modular container pontoon
Grab Dredger Jette Saj Busy in Frederikshavn
Port of Frederikshavn, Denmark, has just released this beautiful photo of the grab dredger Jette Saj during the first deepening before the establishment of the new quay area by Østre Kaj. The project includes the establishment of a ship quay with a total length of 225 meters, of which the 200 meters
Lundin extends credit line as exploration costs and forex loss creep in
Lundin Energy has secured a further credit commitment to provide the company with further financing flexibility amid expected exploration costs of $28 million and forex loss of $359 million in 1Q 2020.
MMT appoints business development director
Marine surveying specialist MMT has promoted Phil Wilson to the role of business development director. Wilson is based at MMT’s UK office and has previously held the position of senior sales manager. In that role, Phil has also been involved in MMT’s business development in other geographical areas.
Choppy waters ahead for multipurpose and heavy-lift shipping
Multipurpose and heavy-lift shipping is facing numerous uncertainties and is most likely to see a stagnation over the coming period, according to the UK-based consultancy Drewry. The market outlook is heavily reliant on the timing of the global economic recovery from the impact of the COVID-19 pande