Hempel Delivers Highest Financial Results to Date
Hempel A/S delivers its best financial result to date with free cash flow of USD$301.4 million (EUR 259 million) and the strongest adjusted EBITDA margin in the company history, achieving 18.2%, and an adjusted EBITDA of USD$458.5 (EUR 394 million). Total revenue in 2025 amounted to USD$2,519 million (EUR 2,165 million). Organic growth for the year, in fixed currency and adjusted for divestments, was 3.4%. Sales in actual numbers were negatively affected by foreign exchange movements…
New Electrolyzer to Turn Emissions into e-Fuels
An EU-funded project is helping accelerate the adoption of carbon capture and utilisation (CCU) technologies that transform carbon dioxide emissions into valuable resources such as fuels, chemicals, and construction materials.CCU is based on the principle of capturing carbon dioxide and reusing it in various forms, such as e-fuels created by combining captured CO2 with renewable hydrogen.The ECO2Fuel project is pioneering this approach by developing a 1MW low-temperature electrolyzer…
WinGD Debuts On-Engine SCR
WinGD will be deploying its on-engine NOx reduction solution ed for the first time on commercial engines after securing type approval.The integrated Selective Catalytic Reduction (iSCR) solution was tested at Mitsui E&S DU (MESDU) Co’s factory in Aioi, Japan, where three WinGD 5X52-S2.0 engines are being built for bulk carriers under construction at a Japanese shipyard.The type approval follows more than two years of service experience with a prototype version. The latest iteration features reduced material and production costs…
CLIA Wants New Greek Tourism Fee to Fund Local Development
The Cruise Lines International Association (CLIA) has responded to plans by the Greek government to impose a 20-euro levy on cruise ship visitors to the islands of Santorini and Mykonos during the peak summer season.The move is a bid to avert over-tourism, said Prime Minister Kyriakos Mitsotakis, announcing the fee earlier this month.CLIA has responded with a statement: “The cruise sector is a success story for Greece contributing 1.4 billion euros to the economy in 2022. CLIA…
James Fisher Names New Head of Energy Division
Offshore services firm James Fisher and Sons has appointed Neil Sims as its new Head of Energy. Sims will report to Chief Executive Officer, Jean Vernet, as part of the James Fisher executive team.Sims joins James Fisher from Expro, where he most recently served as Product Line Vice President and was responsible for their well flow management portfolio and sustainability and ESG transitional strategy.
Managing Change the AVEVA Way
In today’s marine-scape of declining newbuild activity, many boatbuilders are seeking to buoy up productivity by reducing time to market. But how do you go about contracting intricate concurrent design and production flows without loss of quality, let alone the risk of production spiraling out of control? The general tendency is to overlap design phases. However, this potentially creates a greater number of uncertainties. Ship design includes multiple disciplines and specialties in spiraling activity cycles.
Port Crane Fully Lit by LED Floodlights Begins Work at the Port of Valencia
TCV Stevedoring Company S.A., the container terminal in Valencia belonging to Grup TCB, reinforces its commitment to its environmental policy. In line with its environmental management system, EMAS, it has recently purchased and implemented the first STS Super Post Panamax crane in the world, lit entirely with LED technology. This solution was developed and provided by Ingeniería de Aplicaciones Energéticas S.L., (EDAE), whose products offer superior performance, quality and reliability.
Expro Awarded Contract Extension in Cameroon
Leading international oilfield services company Expro is celebrating a significant contract extension with Perenco in Cameroon. The award is an extension of services from a previous well campaign and will last for the duration of one year. Expro will provide an extended well test, data acquisition services and its drill stem testing (DST) package including Expro’s CaTS™ wireless telemetry technology which will be utilised as a surface read-out system. Work will take place across two exploration and appraisal (E&A) wells in the Lungahe and Elombo fields and two development wells in Dissoni. Expro’s Southern & West Africa region director, Riccardo Muttoni, said: “Perenco is pressing ahead with major development plans in Cameroon and the neighbouring areas.
Expro Contract, Ghana’s First Deepwater Field
International oilfield service company Expro is establishing a new base in Ghana following the award of a multi-million dollar contract to deliver subsea, well test and data acquisition services for Tullow Ghana Limited (subsidiary of ‘Tullow Oil’) on the Jubilee Phase 1 Development field, which is the country’s first deepwater development. Ghana has been a strategic target for Expro since Tullow announced its intention to explore and later develop a major discovery. Expro is the current incumbent for Tullow’s exploration and testing work. On the back of this success, Expro has been awarded the Jubilee Phase 1 subsea and intervention work for 30 months.
Genco Amends $1.4b Credit Facility
Genco Shipping & Trading Limited (NYSE:GNK) announced on Jan. 26 that it has entered into an agreement to amend the company's $1.4b credit facility. DnB NOR Bank ASA and Bank of Scotland PLC acted as the lead arrangers of the ten-year facility. Under terms of the amended ten-year $1.4b facility, the collateral maintenance requirement will be waived until such time that Genco is in a position to satisfy the covenant and certain other conditions. Genco will continue to be able to borrow the undrawn portion of the loan during the waiver period. Amounts borrowed under the amended facility begin to reduce on March 31, 2009 at $12.5m per quarter and will bear interest at LIBOR plus 2.00%.
