Business & Finance
Kongsberg wraps up Hydroid sale
Kongsberg Maritime has completed the sale of its US-based underwater technology company Hydroid to Huntington Ingalls Industries (HII). The two companies entered into $350-million sale and purchase agreement in February this year. Back in 2007, Kongsberg Maritime acquired Hydroid for $80 million. In
Terra et Aqua: Fire Suppression Ditch Area Project
The International Association of Dredging Companies’ (IADC) latest edition of their Terra et Aqua magazine featured a very interesting article named ‘Former Zephyr Refinery: Fire suppression ditch area project’. Situated in Muskegon, Michigan, the project provided numerous environmental benefits rel
Cairn Energy makes ‘significant’ reductions to capex. All exploration activity deferred
Cairn Energy has made significant reductions and deferrals regarding its 2020 program, representing an overall 23 percent reduction in capital expenditure for the year.
EMGS to keep only skeleton crew after entering into cost-saving mode
Sharp oil price drop and the global coronavirus pandemic have pushed Norwegian seismic survey company EMGS to operate in a low-cost setup to preserve sufficient liquidity.
OMV joins line of oil and gas operators making budget cuts for 2020
Joining other oil and gas operators in actions to safeguard their businesses amid coronavirus crisis and the oil price war, Austrian oil and gas company OMV has decided to reduce its investments in 2020 by 20 percent, cut costs by around $217 million, and delay acquisition projects.
CMA CGM closes USD 815 Mn sale of eight port terminals to Terminal Link
CMA CGM has completed a first transaction related to the sale of eight port terminals to Terminal Link.
OMV joins line of oil and gas operators making budget cuts for 2020
Joining other oil and gas operators in actions to safeguard their businesses amid coronavirus crisis and the oil price war, Austrian oil and gas company OMV has decided to reduce its investments in 2020 by 20 percent and cut costs by around $217 million.
Norwegian Offshore Rental to Open Aberdeen Office
Norwegian Offshore Rental (NOR), an offshore and subsea equipment rental company, will open a new office location in Aberdeen, Scotland on Monday. This new location has one staff member, Sean Demanuele. Demanuele is the UK office manager and will oversee orders, activities, and operations at this lo
Diana Shipping’s CEO has COVID-19
Simeon Palios, chairman and CEO of Greek shipowner Diana Shipping, has tested positive for the coronavirus.
Höegh bumps FSRU Independence funds, nabs LNG carrier deal
Höegh LNG has secured an extension and upsizing of its FSRU Independence debt facility as well as an interim time charter for one of its vessels.
Shipping Industry Sees Growth in Remote Surveys in Times of Coronavirus Crisis
Remote ship surveys and inspections have become increasingly popular amid the coronavirus crisis.
“Satisfactory” capacity interest in Greek offshore LNG terminal
Gastrade of Greece, the developer of a planned offshore liquefied natural gas import facility at Alexandroupolis, said Thursday that gas firms have submitted “satisfactory” binding bids to reserve regasification capacity at the facility. Key gas market players in Greece and southeast Europe, as well
Dagenham Wharf Dredging Complete
This winter, Land & Water Services worked on a very exciting project at Dagenham Wharf. Their team conducted a large scale dredging campaign at Cemex’s Pier No 8 in Dagenham where 9,500m³ of silt was removed from the riverbed to improve access to the jetty from the River Thames. The dredging works w
Fluxys’ 2019 profit boosted by rising LNG terminal activity
Belgian gas infrastructure company and Zeebrugge LNG terminal operator, Fluxys, posted a rise in profit as the liquefied natural gas import facility reports record activity.