The International Monetary Fund (IMF) and the Government of Gabon have reached an agreement for a $147 million facility to help the country address the challenges that have arisen due to the global COVID-19 pandemic and oil price crash.
Finnish shipbuilder Meyer Turku shipyard has launched talks with its employees on the layoff of 450 people as a result of the coronavirus crisis on the yard’s operations. The company said the temporary layoffs would differ in length and that additional 900 people would be affected by other types of
Proactive maintenance work will begin today on the southern side of Currimundi Lake to protect the roads, lifeguard tower, beach access and park area from erosion, reports Sunshine Coast Regional Council. Commenting the latest news, Council Coastal Engineer, Georgia Keeshan, said that the work is in
Fugro and International Ocean Vessel Technical Consultant (IOVTEC) have established a joint business entity in Taiwan. The move follows the companies’ cooperation in the offshore wind sector in Taiwan over the last few years. Fugro and IOVTEC have been serving Taiwan’s emerging offshore wind market
Neptune Energy has kicked off its Fenja drilling campaign, located offshore Norway, following the spud of the first well.
Damen Shipyards has just released a video named ”How to Empty Sand Barges Using a DOP Dredge Pump”, recorded during a project in Haringvliet, the Netherlands. Under the contract, for a newly created island 5.000m³ of coarse sand had to be transported. This new island is located in a very shallow are
OKEA sank deeper into the red in the first quarter of the year affected by lower oil and gas prices and sales volumes resulting in impairments of over $60 million.
MHI Vestas has finalized the contract with Swancor to locally source offshore wind turbine blade materials in Taiwan. According to MHI Vestas, the scope of the contract covers a significant percentage of the direct materials value of overall blade manufacturing, including carbon tow, carbon pultrusi
On the heels of a significant economic blow from the suspension of global cruises due to the COVID-19 pandemic, Norwegian Cruise Line Holdings has had to launch a serious cost-cutting mission to stay afloat. In its latest business update, the cruise line company said that it was targeting a $515 mil
The Nature Conservancy (TNC) is partnering with the Rhode Island Coastal Resources Management Council (CRMC) and the City of East Providence to test the effectiveness of “living shoreline” erosion controls at Rose Larisa Park. The construction contract was awarded to SumCo Eco-Contracting of Salem,
Japan’s Inpex has reportedly sold a liquefied natural gas cargo produced at its Ichthys plant in Australia for a record low price. Inpex had offered two cargoes for loading in May and has sold at least one of them at about $1.70 to $1.75 per million British thermal units, Reuters reported on Tuesday
Dredging has resumed on Edgewater Bay to remove the remaining material from the Bayside Water Ski Show area, informs the Shell Rock River Watershed District. According to the officials, this will conclude Phase 1 of the multi-phased project. The dredging contractor, J.F. Brennan, will then mobilize
BP reported a significant decline in its quarterly profit due to lower prices and the destruction of oil demand by the coronavirus crisis.
Swedish engineering group Alfa Laval saw a significant drop in demand for its exhaust gas cleaning systems (scrubbers) during the first quarter of this year, the company said in its quarterly report. The order intake was down year-on-year amid general uncertainty around retrofit yard slot availabili
