Latest news from Heavy Lift & Project Forwarding International Magazine

Subsea 7 sees market improvement

July 27 - Subsea 7's renewables and heavy lifting business unit saw increased offshore activity in the second quarter of 2017, following its acquisition of Seaway Heavy Lifting.

Jean Cahuzac, Subsea 7 chief executive, said additional renewable project activity, along with significant progress of subsea oil and gas projects, boosted second quarter 2017 revenue to USD1 billion, up six percent year-on-year.

"Assuming the global energy prices sustain current levels and that cost reductions identified by the industry are consistently achieved, there is reason to believe that the number of awards to the market could increase by the first half of 2018," he explained.

Subsea 7 acquired K&S Baltic Offshore's 50 percent shareholding in Seaway Heavy Lifting in March this year, making the latter a wholly owned subsidiary of the Subsea 7 Group.

The consolidated results of Seaway Heavy Lifting as well as the progress of the Beatrice wind farm project, located off the north east coast of Scotland, contributed to the increased activity in renewables and heavy lifting.

The acquisition of Seaway and EMAS Chiyoda Subsea (ECS), which was also completed in the first half of 2017, "made significant progress on our strategy to grow and strengthen our business," added Cahuzac.

Seaway Heavy Lifting's Stanislav Yudin

Heavy Lift | News

USA ends steel and aluminium tariffs on Canada and Mexico thumbnail image

USA ends steel and aluminium tariffs on Canada and Mexico

May 24 - The USA is removing steel and aluminium tariffs imposed on Canada and Mexico under Section 232 of the Trade Expansion Act of 1962, with all retaliatory tariffs on US goods and any pending litigation also coming to an end.
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Maxim names duo for Pacific Northwest thumbnail image

Maxim names duo for Pacific Northwest

May 24 - Maxim Crane Works has appointed Travis Wilt and Alex Clark to lead the expansion of its services in the Pacific Northwest region of North America. 
Views: 152
PPG restructures training course thumbnail image

PPG restructures training course

May 24 - The Project Professionals Group (PPG) has restructured its project cargo forwarding training course into a one-day format.
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