Albwardy Damen Opens Repair Workshop in SOHAR
On February 12 Albwardy Damen entered into an agreement with SOHAR for the opening of a workshop. For the signing, which took place at SOHAR Port and Freezone Head Office in Oman, SOHAR was represented by Mark Geilenkirchen, CEO of SOHAR Port and Albwardy Damen was represented by Ibrahim Mohamed Al Shidi. The agreement will see the installation of a 40-foot workshop container at a service jetty in the Port…
EU Loan Supports Ystad LNG Upgrades
The European Investment Bank (EIB) has signed a SEK 445 million ($45.6 million) loan agreement with the Municipality of Ystad to expand harbor facilities so that new, larger liquefied natural gas (LNG) vessels on the Swinoujscie-Ystad line can access the harbor.The port in the southern-Swedish town is a busy connection point to the Polish Port of Swinoujscie and the Danish island of Bornholm. The project…
Coronavirus Slows China's Belt and Road Push
When President Xi Jinping made his first state visit this year to Myanmar and signed new infrastructure contracts, there was no indication of the obstacle about to trip up China's plan for railways, ports and highways around the world: the coronavirus.Travel restrictions to prevent the spread of the disease, which has now killed more than 1,800 people, have idled much of the world's second-largest…
Golden Ocean Warns on Profit, Supply Chains Due to Coronavirus
Shipping group Golden Ocean warned on Tuesday its profit would be hit by a slowdown in demand due to the coronavirus outbreak in China, sending its shares down more than 3% in early trade.The world's second-biggest economy has seen business activity curtailed in recent weeks as it battles to combat the spread of the virus, pushing down shipping rates for commodities such as coal and iron ore used in…
EU Clears OLT Takeover by SNAM and FSI
The European Commission has approved the acquisition of OLT Offshore LNG Toscana by SNAM and the UK’s First State Investments International (FSI), under the EU merger…
DP World to Delist from Nasdaq Dubai
DP World, one of the world’s largest port operators, is delisting from the Nasdaq Dubai and returning to fully private ownership.According to a press release, the…
MHI Vestas Orders ABB Transformers
MHI Vestas Offshore Wind, the global wind turbine manufacturer, has selected ABB’s Power Grids business to deliver its WindSTAR transformers for the Triton Knoll…
Sembcorp in Offshore R&D Pact with A*Star
The global marine and offshore engineering group Sembcorp Marine and Singapore's Agency for Science, Technology and Research (A*Star) have agreed to deepen their…
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