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

 

www.subsea7.com

www.seawayheavylifting.com.cy

Heavy Lift | News

Cory moves to Ipswich office thumbnail image

Cory moves to Ipswich office

October 18 - UK-headquartered Cory Brothers has relocated its office in Felixstowe to Ipswich town centre.
Views: 397
Bichowski joins AMT thumbnail image

Bichowski joins AMT

October 18 - Switzerland-headquartered logistics and supply chain specialist AMT has appointed Frank Bichowski as its chief commercial and operations officer.
Views: 466
Hughes-Hallett passes after long illness thumbnail image

Hughes-Hallett passes after long illness

October 18 - James Hughes-Hallett, former chairman of Hong Kong’s Swire Group and London-based shipbroker Clarksons, has passed away at the age of 70.
Views: 451

Heavy Lift Across The World

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