IHC Caland Logs $100M New Business

Wednesday, January 07, 2004
IHC Caland reported that it had won new orders recently worth more than $100 million and would continue to meet its banking covenants. J.P. Morgan had said in October that IHC's high gearing implied the risk of a possible breach of its debt covenants. The group, whose main activity is building and operating floating production and storage platforms (FPSOs) for oil companies, also said on Tuesday that U.S. oil major Exxon Mobil Corp. would keep one of its FPSOs on a long-term lease rather than buying it as initially planned. Meanwhile, a new FPSO has started production for Exxon Mobil offshore Angola. With this new unit, IHC subsidiary SBM now has 13 FPSOs under lease and operating contracts with three new ones under construction, the company said.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

Evergreen Line Orders Ten 2,800 teu Ships

Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation.

Escort Tug Launched for Bay-Houston Towing

Eastern Shipbuilding Group, Inc. announced the launch of the Escort Tug H. DOUGLAS M (Hull 236) for Bay-Houston Towing Company on November 17, 2015. This series of Robert Allan, LTD.


McAllister Towing – 150 Years of Family Business

“Early in 1864, a young man names James McAllister stood on board a sailing vessel where he served as a mate. The boat was about to set sail from the Red Bay of

Lightering Operations Begin for Sunken Lake Barge

Lightering operations has begunn for the  tanker barge Argo sunken in Lake Erie as Unified Command responders took advantage of a favorable weather window, the U.

Helm Announces Maintenance & Compliance Release

In line with the Subchapter M waterways rules which are due to come into effect in 2016, Helm Operations will introduce the full capability of it’s latest Maintenance and Compliance solution,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0658 sec (15 req/sec)