Business & Finance
Government Officials Tour Qrejten Breakwater
Ian Borg, the Government of Malta’s Minister for Transport, Infrastructure and Capital Projects, and Aaron Farrugia, Parliamentary Secretary for European Funds and Social Dialogue, earlier this week toured the ongoing works for the construction of the Qrejten breakwater, in the locality of Marsaxlok
Shell profit slumps on lower oil prices
Oil major Shell recorded a 25 percent decrease in ts second quarter profit due to lower oil prices while its production was up by 4 percent during the period.
Yilport Holding Inks 49-Year Concession for Port of Taranto
This is the 22nd marine port in Yilport Holding’s portfolio, and its first terminal in Italy.
MacGregor closes acquisition of TTS’ marine and offshore business
Cargotec’s MacGregor business area has completed the acquisition of the marine and offshore businesses of TTS Group.
DEME Sets Up Belgian MOG Cable
DEME’s cable installation vessel Living Stone has completed the installation of subsea export cable for Elia’s Modular Offshore Grid. The 85-kilometer cable connects Elia’s offshore switch yard to the shore station Stevin at Zeebrugge, as well as the Rentel wind farm offshore substation. Living Ston
Total secures Prosafe flotel for accommodation support on Elgin
Prosafe has signed a contract with Total E&P UK Limited for the Safe Caledonia to provide accommodation support at the Elgin complex in the UK sector of the North Sea.
North Portsea Planning Application Gets OK
The next phase of plans to protect North Portsea Island from the risk of coastal flooding are underway following approval of the planning application for the first package of work in the Kendall’s Wharf area of North Portsea Island. The principal design for Phase 4 of the North Portsea Island Coasta
Royal IHC Posts 2018 Net Loss
Royal IHC reported today that 2018 was a difficult year and due to cost overruns in the execution of a number of challenging innovative projects, the loss for 2018 ultimately amounted to €80.6 million. IHC has initiated a number of clear actions in order to restore profitability. For example, the or
Sabetta Dredging Kicks Off
Two dredging vessels, owned by FSUE Rosmorport’s Arkhangelsk, arrived at Sabetta seaport (Yamal) earlier this week to perform scheduled dredging operations in this area. According to the company’s press center, the trailing suction hopper dredgers Severnaya Dvina and Beloye More will be involved in
First Foundation Lands at Northwester 2
The first foundation of the Northwester 2 wind farm has been installed by Jan De Nul’s jack-up installation vessel Vole au Vent. The first foundation is composed of a monopile that is 76 meters long and has a diameter of almost 8 meters. The monopile weighs around 900 tonnes and the transition piece
Corallian boosts interest in North Sea discovery
Corallian Energy has raised about $1.5 million in an equity fundraise, increased its interest in a license which contains the Colter South discovery, and made progress towards starting its Curlew-A well drilling in the UK North Sea.
DC Industrial NV-SA/Group De Cloedt New IADC Member
DC Industrial NV-SA/Group De Cloedt has become a member of the International Association of Dredging Companies (IADC). Commenting the latest news, René Kolman, Secretary General of IADC, said: “We are pleased to welcome DC Industrial NV-SA/Group De Cloedt as our new member.” “As IADC, we aim to prom
GC Rieber scoops extension and new vessel management deal
GC Rieber Shipping has entered into a ship management agreement for a cable laying vessel and won an extension of the charter of the Polar King CSV with Nexans.
Rotech Wraps Up Two Campaigns Off UK
Rotech Subsea has completed two workscopes off the UK coastline for a power cable manufacturer. This adds to a track record of over 500 projects completed worldwide. The projects, which have recently been completed, saw subsea excavation innovator deploy two of its RS2 tools – which are part of the