Business & Finance
USA: SUNY Maritime College Receives Engine and Equipment Donation from Wartsila
Wärtsilä, the marine industry’s leading solutions provider, donated the main components of a hybrid diesel propulsion system to the Engineering Department at State University of New York Maritime College (the Bronx, New York City), at an unveiling and dedication ceremony in mid-October. It was the o
McDermott Announces Third Quarter 2011 Preview and Preliminary 2012 Outlook (USA)
McDermott International, Inc. previewed its 2011 third quarter by providing its current expectations for certain financial categories of the Company’s continuing operations, based upon management’s recent operating reviews. McDermott also announced that it will report its actual third quarter 2011 f
USA: Port of Houston Authority Adopts and Approves Audit Task Force Charter
The Port Commission of the Port of Houston Authority approved and adopted a charter for its Audit Task Force. The action was taken during an Oct. 25 meeting held at the new Bayport Administration Building, a “green” facility designed to LEED gold standards. After taking special note that the meeting
Eni’s 3Q Production Drops Due to Libyan Disruptions
Eni announces results for the third quarter and the nine months of 2011. Adjusted operating profit: €4.61 billion in the quarter (up 12%); €13.71 billion in the nine months (up 9%); Hydrocarbon production still affected by the Libyan disruptions: down by 13.6% inthe third quarter of 2011 to 1.47 mmb
Scotland Announces GBP 18 Million Fund for Renewable Energy
The Scottish government has announced new funding for renewable energy developments that are likely to produce new engineering jobs… (careerstructure) [mappress] Source: careerstructure, October 27, 2011
UK: SMD and Blade Offshore Services Join Forces in SMD-BORD
SMD and Blade Offshore Services (BOS) announce the signature of Heads of Terms for a joint venture. Under the joint venture, expected to be called SMD-BORD, SMD will design and manufacture subsea remote drilling solutions for the marine renewable industry, offering a cost effective alternative to mo
Crown Estate Still Not Talking about Round 4 (UK)
The UK’s emerging offshore wind industry has only just started work on ambitious plans to build more than 30GW of new capacity, and is not y… By Jessica Shankleman (businessgreen) [mappress] Source: businessgreen, October 27, 2011
Nord Stream Inks Phase I Repricing Arrangements with Banks
Nord Stream can confirm it has agreed repricing arrangements with its relationship banks for the 3.9 billion euro Phase I project finance facilities. Nord Stream undertook this exercise in order to bring Phase I pricing into line with the pricing it achieved for the 2.5 billion euros raised for the
Australia: WorleyParsons Announces New Appointment to its Board
At its annual general meeting on 25 October 2011, WorleyParsons announced that Ms Wang Xiao Bin will be appointed to the Board as a non-executive director before its next board meeting in December. Ms Wang is based in Hong Kong and is currently Executive Director and Chief Financial Officer of China
USA: Superior Energy Releases Third Quarter Earnings Report
Superior Energy Services, Inc. announced net income of $59.6 million, or $0.73 per diluted share on record revenue of $565.3 million for the third quarter of 2011, and adjusted net income of $55.9 million, or $0.69 per diluted share, after excluding a non-cash, unrealized pre-tax gain of $5.8 millio
NYK Participates in Brazilian Cabotage Business
NYK announced its participation in the Brazilian cabotage business through an acquisition of 10 percent of the shares of Maestra Navegação e Logistica S.A. (Maestra) and its two group companies. NYK and Maestra also agreed to nominate one board member from the NYK Group to Maestra’s board of directo
UK: BMT Cordah, add novatech Launch NEMS Accounter Light
BMT Cordah, a subsidiary of BMT Group Ltd, the leading international maritime design, engineering and risk management consultancy, has launched the NEMS Accounter® Light reporting software to the UK market. The software developed by environmental specialists add novatech, in conjunction with BMT Cor
Kitron Signs Contract with Leading Supplier of Offshore Equipment (Norway)
Kitron AS, a subsidiary of Kitron ASA, has signed a contract with a leading supplier of offshore equipment… (Reuters) [mappress] Source: Reuters, October 27 , 2011;
Switzerland: ABB Releases Q3 Results
ABB reported a 24-percent increase in operational EBITDA in the third quarter on double-digit revenue growth compared with the third quarter of last year. In addition to higher revenues, the increase reflects successful cost reductions that continued to more than offset price pressure. The recent Ba