Latest news from Heavy Lift & Project Forwarding International Magazine

Subsea 7 downscaling plans succeed

November 12 - Subsea 7 has disclosed a bigger fleet reduction plan with six of its ships being laid up in order to reduce the fleet in "subdued markets".

After both net profit and revenue dropped significantly in 2014, the company announced recently that its reduction plan, announced in May 2015, is on track to deliver approximately USD550 million of savings.

The fleet reduction has progressed as planned. 12 vessels are scheduled to leave the fleet by early 2016, six vessels have been laid up and one chartered vessel has been returned. The 16,500 dwt pipe-laying vessel Seven Polaris will also be scrapped, in spite of an impairment charge of USD36 million.

Subsea 7 ceo Jean Cahuzac said: "Subsea 7 has delivered another quarter of good results in the three months to September 30, 2015, despite the continuation of difficult industry conditions and resultant decline in market activity, with strong operational performance in both business units driven by consistently good project execution."

 

Subsea 7's Luanda spoolbase.

 

www.subsea7.com

Heavy Lift | News

Bishop takes AWRS thumbnail image

Bishop takes AWRS

July 18 - Bishop Lifting Products has completed the acquisition of American Wire Rope & Sling (AWRS), a leading provider of rigging, lifting and overhead crane solutions.
Views: 113
CITB readies for Alaska’s ice-free season thumbnail image

CITB readies for Alaska’s ice-free season

July 18 - Cook Inlet Tug & Barge (CITB), a subsidiary of Foss Maritime Company, has announced that the 2019 ice-free season on Alaska’s North Slope are under way.
Views: 95
Sutton steps up at Crowley thumbnail image

Sutton steps up at Crowley

July 18 - Crowley Maritime has appointed Peter Sutton as vice president of operations integrity and health, safety, security and environment (HSSE) for its shipping business unit.
Views: 103
Guzmán to depart Long Beach thumbnail image

Guzmán to depart Long Beach

July 18 - Lori Ann Guzmán is stepping down as harbour commissioner at the port of Long Beach, California.
Views: 89

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.