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.

Shipbuilding

Heavy Lifting: Giant Pipe Racks Shipped for New FPSO

From Brazil to China and then back to Brazil, five pipe racks and three modules weighing a total of 1,871.51 metric tons and measuring 24,075 m³ will be transported

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Tuco’s New Arctic Workboat to Debut at SMM

Danish producer Tuco Marine said it will reveal a new Arctic workboat daughter craft at next month’s SMM in Hamburg.   Many arctic patrol vessels, icebrakers

Barges

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

MN100: McDonough Marine Service

The Company: Bernard P. McDonough created the company in 1945 by leasing barges from his construction company into the marketplace. Through a series of new and used barge additions,

Damen Repairs Two Van Oord Barges

Damen Shiprepair Vlissingen recently completed a broad scope of maintenance and repair works on the Van Oord-owned Split Hopper Barges Jan Blanken and Jan Leeghwater.

 
 
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