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IHC Seeks Unusual Lender Cramdown and Board Structure


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Royal IHC publishes delayed 2021 Annual Report

Royal IHC publishes delayed 2021 Annual Report

Netherlands

Positive EBITDA and reduced net loss but still (€63million) Royal IHC has published its delayed Annual Report 2021. The delay is due to the outline agreement with the company’s financial stakeholders, concluded at the end of 2022, which had to be incorporated into the report. In 2021, Royal IHC’s focus was on successfully completing the large… Read More

Konecranes chooses L&T for port cranes manufacturing in India

Konecranes chooses L&T for port cranes manufacturing in India

India

Finnish firm Konecranes has struck a licensing agreement with Larsen & Toubro (L&T) for making and distributing the former’s port cranes in India. The alliance between Konecranes and L&T’s Minerals & Metals business arm will include manually run ship-to-shore cranes, rail-mounted gantry cranes and rubber-tired gantry cranes from the Konecranes portfolio, as well as the company’s shipyard cranes. Konecranes and Indian conglomerate L&T will also cooperate… Read More

AD Ports signs maritime and port framework agreements with Angolan organisations

AD Ports signs maritime and port framework agreements with Angolan organisations

United Arab Emirates

AD Ports Group has continued its sustained strategy of global expansion, signing key strategic agreements with Angolan organisations to enhance maritime connectivity along Africa’s west coast. The Group has also entered into a Head of Terms agreement to form a joint venture with state-owned logistics and transportation company UNICARGAS, which manages the multipurpose terminal at… Read More

Ørsted expects EBITDA excluding new partnership agreements of DKK 21.1 billion for 2022. EBITDA guidance for 2023 of DKK 20-23 billion excluding new partnership agreements

Ørsted expects EBITDA excluding new partnership agreements of DKK 21.1 billion for 2022. EBITDA guidance for 2023 of DKK 20-23 billion excluding new partnership agreements

Denmark

Ørsted presents operating profit (EBITDA) for 2022 based on preliminary and unaudited reporting. It has been a year with unusual market conditions, not least very volatile energy prices and a substantial increase in inflation. Despite this, we achieved 2022 results (EBITDA) within our latest guidance from 3 November 2022 and above our initial expectations for… Read More


Company & People News | Dredge Mining

IHC Seeks Unusual Lender Cramdown and Board Structure

Netherlands

Article written by DredgeWire As reported by the Dutch paper FD, and Royal IHC itself, the company is seeking to force via a special court proceeding three of the nine banks in its loan consortium to agree to a debt restructuring agreed to by the other six. The company has described the proceeding as a… Read More

VIDEO: NorthStandard P&I merger set to trigger

United Kingdom

NorthStandard will be jointly led by Paul Jennings, CEO at North (L), and Jeremy Grose, CEO, Standard Club. The merger of two major players in the marine mutual insurance market — North P&I and Standard Club — is set to come into effect on February 20, establishing NorthStandard as one of the world’s largest providers of mutual… Read More

DP World: Globalisation redefined as manufacturing moves closer to home

United Arab Emirates

New research has revealed the emergence of major shifts in globalisation, as companies rush to move manufacturing closer to home to protect against supply chain disruptions while increasingly protectionist policies are breaking the world into trade blocs. The latest Trade in Transition study, commissioned by DP World and led by Economist Impact, captured the perspectives of company… Read More

Royal IHC publishes delayed 2021 Annual Report

Netherlands

Positive EBITDA and reduced net loss but still (€63million) Royal IHC has published its delayed Annual Report 2021. The delay is due to the outline agreement with the company’s financial stakeholders, concluded at the end of 2022, which had to be incorporated into the report. In 2021, Royal IHC’s focus was on successfully completing the large… Read More


Events & Conferences

Marine Log launches new event with focus on ship repair and maintenance

World ,

Marine Log is adding a new shipbuilding repair and maintenance event, “Ship Repair USA,” to its lineup, with a focus on decarbonizing fleets and how shipyards can benefit from the push to go greener via conversions and more. This newest event, taking place June 20-21, 2023, in New Orleans, La., will be a sister show… Read More

Walk to Work Seminar 2022 returns in full swing in Aberdeen

World ,

The Walk to Work Seminar 2022 this year was held in Aberdeen at the Aberdeen Art Gallery. After a two-year hiatus due to the global pandemic, Ampelmann was enthusiastic and eager to bring back this event that brings together some of the biggest names in offshore work together again. This year’s W2W Seminar featured networking… Read More

WLP welcomes new members and partners from over 15 countries at DP World’s inaugural Global Freight Summit

United Arab Emirates

The World Logistics Passport (WLP) welcomed a host of new members and partners representing international traders and freight forwarders from over 15 countries, during the first Global Freight Summit (GFS) hosted by DP World in Dubai. The WLP is a Dubai-led global initiative designed to smooth the flow of international trade, reducing the cost of… Read More

Innovations in Decarbonization and Digitalization at SNIC 2022

World ,

Singapore and Norway are leading the way – SNIC 2022 is a call to action for maritime decarbonization. Our ambition is to make Singapore Norway Innovation Conference (SNIC) 2022 the most valuable conference in Singapore on maritime & offshore decarbonization and digitalization. NBAS, The Norwegian Embassy in Singapore, and Innovation Norway will jointly host SNIC… Read More


Maritime hires and promotions

Maritime Industry New Hires and Promotions

India

Gagan Pal Singh Diwan – Appointed as Vice President at Adani Ports and SEZ!

Maritime Industry New Hires and Promotions

Australia

Stefan Spelitz – Appointed as Regional Sales Manager Latinamerica, Construction Machinery bei Liebherr Werk Nenzing GmbH

Giampiero Soncini returns to the helm of the IT marine

Italy

Giampiero Soncini, former officer of the Italian Navy, a ship manager under NATO and considered one of the world’s leading experts in the IT sector dedicated to maritime activities, returns to the bridge, his appointment as MD of Oceanly being announced on Friday last week. Oceanly is the newco established last December by Esa Group,… Read More

Swedish Club Announces Key Management Moves to Strengthen Global Offering

Sweden

In a pivotal move aimed at further strengthening The Swedish Club’s long-term position in the global market, the Club has announced the following management changes taking place during late Spring 2023. Lars A. Malm will become Managing Director and Area Manager in the Club’s Hong Kong office, contributing with his broad range of claims, loss prevention… Read More


Offshore Wind Power News

Hollandse Kust Noord Wind Farm to Demonstrate Ballard Fuel Cells

Netherlands

The Netherlands’ new offshore wind farm Hollandse Kust Noord seeks to address the variability of wind speed and output with innovative new solutions. Being developed by CrossWind, a joint venture between Shell and Eneco, the project will incorporate a fuel cell system from Ballard Power Systems for a 1 MW stationary power project. “In CrossWind,… Read More

Europe Bought Record Amounts of Norway’s Offshore Gas in 2022

Norway

The war in Ukraine has created a windfall for Norway’s offshore oil and gas producers, with sharply higher prices and record-setting demand for Norwegian gas. According to state subsea pipeline operator Gassco, European customers’ urgent need to replace Russian energy created an “all-time high demand for Norwegian natural gas” in 2022. Over the span of… Read More

UK Receives £1 Billion Annual “Windfall” From New Offshore Wind Leases

United Kingdom

Further demonstrating the strong demand emerging in the offshore wind energy sector for prime locations, the UK’s Crown Estate concluded agreements for leases on six new offshore wind sites as part of the country’s fourth round of leasing. The annual option fees set by the companies through the auction process stand to provide £1 billion… Read More

Saipem awarded two offshore contracts for a total amount of approximately 900 million USD

Italy

Saipem has been awarded two offshore contracts for a total amount of approximately 900 million USD. The first contract – in partnership with Aker Solutions do Brasil – has been awarded by Total Energies, for the LAPA Southwest (LAPA SW) Development Project, a deepwater oil field  in the Santos Basin in the South Atlantic, 270 kilometres… Read More


Port News

Virginia lawmakers propose funds for state’s second inland port

VA, United States

State budget amendments totaling $65 million have been filed in an effort to establish an inland port in Southwest Virginia. State Sen. Todd Pillion, R-Abingdon, Del. Israel O’Quinn, R-Bristol and Del. Will Wampler, R-Abingdon, filed separate amendments to seek funds for the design and construction of an inland port. A new feasibility study by the… Read More

Nigeria bets on Chinese-funded port to drive economic growth

Nigeria

Nigerian President Muhammadu Buhari has marked the opening of a $1.5 billion, Chinese-funded deep seaport in the commercial hub of Lagos that authorities hope will help grow the West African nation’s ailing economy. The Lekki Deep Sea Port is one of the biggest in West Africa and will create hundreds of thousands of jobs in… Read More

Edo government, Port of Antwerp to finalise Benin River Port project

Nigeria

The Edo State Governor, Mr. Godwin Obaseki, along with the members of the Benin River Port (BRP) Project Committee, has concluded plans with the Port of Antwerp from Belgium to partner and finalize the Benin River Ports project. This was gathered in a meeting of the Benin River Port (BRP) Project Committee with the governor… Read More

Nigeria opens ‘game changer’ billion-dollar deep seaport in Lagos

Nigeria

Nigeria has opened a billion-dollar, Chinese-built deep seaport in Lagos, which is expected to ease congestion at the country’s ports and help it become an African hub for transhipment, handling cargoes in transit for other destinations. President Muhammadu Buhari, who inaugurated the port on Monday, has made building infrastructure a key pillar of his government’s… Read More


Project Updates & Industry Developments

Edo government, Port of Antwerp to finalise Benin River Port project

Nigeria

The Edo State Governor, Mr. Godwin Obaseki, along with the members of the Benin River Port (BRP) Project Committee, has concluded plans with the Port of Antwerp from Belgium to partner and finalize the Benin River Ports project. This was gathered in a meeting of the Benin River Port (BRP) Project Committee with the governor… Read More

A cost-effective solution to beach erosion

World ,

Researchers have developed a new way to combat erosion and save money by using environmental processes to feed sediment to the shore. The project is based in Port Bay, New York, in southern Lake Ontario. It is one of several projects run by the Healthy Port Futures effort, which works with natural systems to solve coastal issues… Read More

Momen inaugurates dredging of Surma River in Sylhet

Bangladesh

Foreign Minister and Member of Parliament (MP) from Sylhet-1 Constituency Dr AK Abdul Momen today inaugurated the dredging of the Surma River in Sylhet involving Taka 50 crore. The work was formally inaugurated this morning by the minister at Chanpur area of Moghal Gaon union of Sadar upazila. Many people of the district, officials, public… Read More

Pomeroon River dredging closer to completion

Guyana

Dredging along the Pomeroon River should be completed in a month’s time as work on the last two miles is now underway, Chief Executive Officer (CEO) of Gaico Construction and General Services Inc Komal Singh said. “We are in the final two miles, that is where we are working on right now. It will take… Read More


Shipbuilding | Marine Products | Technology

Grimaldi continues ammonia-ready car carrier binge

Italy

The concept of the newbuildings was developed by the Grimaldi Group in collaboration with Denmark’s Knud E. Hansen. [Image: Knud E. Hansen The Naples headquartered Grimaldi Group is continuing its ammonia-ready car carrier shopping spree. Earlier this month, it added five newbuilds to its tally. On January 23, it added another five by exercising an option under… Read More

Automation upgrade of CSD J.F.J. De Nul by Royal IHC

Netherlands

Jan De Nul Group has awarded the automation upgrade of the large and powerful CSD J.F.J. De Nul to Royal IHC. Built in 2003 by Royal IHC and with a total power of 27,240 kW installed, this CSD belongs to the top-end in the world cutter dredging fleet. J.F.J. De Nul is the second largest CSD… Read More

Damen takes lead in 3D model based class approval

Netherlands

Classification society Bureau Veritas has successfully reviewed a 3D design of a 2500 m³ hopper dredger from Damen Shipyards, being a step to granting it approval in principle. The pilot project for 3D model-based class approval is meant to pave the way towards using three dimensional computer designs as standard procedure to achieve class notation… Read More

Crowley-Esvagt JV picks Fincantieri Marine Group to build Jones Act SOV

World ,

Fincantieri Marine Group (FMG) has reached agreement on a contract with CREST Wind, a joint venture between Crowley and Crowley and Esbjerg, Denmark-headquartered Esvagt, to design and build a 288-foot HAV 832 Service Operation Vessel (SOV). As we reported yesterday, the vessel will operate under a long-term charter with Siemens Gamesa Renewable Energy to support Siemens… Read More


uncategorized
Article Image

Study says Adani port not responsible for coastal erosion in Thiruvananthapuram…

A ‘Draft White Paper’ commissioned by the Vizhinjam International Seaport Limited (VISL) has found that the Vizhinjam port has only “minimal” impact on the moderate-to-high erosion along the Valiyathura to Shanghumugham stretch of the Thiruvananthapuram coast.  

Maersk and Castlery sign multi-year global logistics and fulfilment agreement

Singapore

Maersk has entered into a partnership with Castlery, a Singaporean furniture retailer, for a multi-year global integrated logistics and fulfilment agreement. By leveraging Maersk’s capabilities in managing supply chains amid ongoing disruptions, the partnership will enable Castlery to offer seamless delivery for its customers, reducing wait times for orders to one to two months, approximately… Read More


Upcoming Projects | Contracts | Tenders

Automation upgrade of CSD J.F.J. De Nul by Royal IHC

Netherlands

Jan De Nul Group has awarded the automation upgrade of the large and powerful CSD J.F.J. De Nul to Royal IHC. Built in 2003 by Royal IHC and with a total power of 27,240 kW installed, this CSD belongs to the top-end in the world cutter dredging fleet. J.F.J. De Nul is the second largest CSD… Read More

Saipem awarded two offshore contracts for a total amount of approximately 900 million USD

Italy

Saipem has been awarded two offshore contracts for a total amount of approximately 900 million USD. The first contract – in partnership with Aker Solutions do Brasil – has been awarded by Total Energies, for the LAPA Southwest (LAPA SW) Development Project, a deepwater oil field  in the Santos Basin in the South Atlantic, 270 kilometres… Read More

First planned closure of Uig Harbour announced for dredging

United Kingdom

Uig Harbour is to close on Monday 16 January 2023 for eight weeks to allow for the next phase of works to safeguard future ferry services, the Highland Council has confirmed. The planned and programmed outage is required for works to replace life expired infrastructure. The works during this stage will include dredging the existing berth,… Read More

200 million cubic metres of earth off Daman coast sought to be dredged for Vadhavan port

India

Initially, the JNPA’s plan was to quarry about 80 million cubic metres of murrum soil (fragmented rocks) from seven identified hillocks in Palghar district. However, on December 6 last year, it wrote to the MoEFCC seeking an amendment in the project’s Terms of Reference (ToR), which are granted prior to seeking environmental clearance Mumbai: The… Read More


USACE

Transatlantic Middle East District awards contract for Jeddah Site Preparation – Kingdom of Saudi Arabia

Saudi Arabia , United States

The Transatlantic Middle East District (TAM) awarded a contract for Jeddah Site Preparation in the Kingdom of Saudi Arabia. Contract number W912ER23C0004 in the amount of $11,976,770.57 was awarded to Yuksel Insaat Saudia Co. Ltd., on October 26, 2022. This project consists of site work for future Life Support Area (LSA), Munition Storage Area (MSA)… Read More

GLLD’s Bill Hanson Joins USACE Panel to Discuss Historic Opportunity for NJ

NJ, United States

GLLD’s Bill Hanson, SVP Government Relations & Business Development, joins a panel of experts to discuss “Delivering on a Historic Opportunity” at the Army Corps of Engineers Developing an Incredible Opportunity for New Jersey event on June 9. Source

Corps of Engineers builds temporary levees in Valley City, North Dakota

ND, United States

ST. PAUL, Minn. – The U.S. Army Corps of Engineers, St. Paul District, began building emergency temporary levees in Valley City, North Dakota, yesterday, April 24. The Corps of Engineers awarded the nearly $1.6 million contract to Strata Corporation, Grand Forks, North Dakota, to protect low-lying areas within Valley City from flooding following the recent… Read More

Middle East District awards contract for Naval Support Activity, Bahrain

VA, United States

WINCHESTER, Va. — The Transatlantic Middle East District (CETAM) awarded the Navy P974 Electrical Systems Upgrade contract March 24 to Contrack Watts Inc. for $34,030,929.00.  This project constructs services to support operational requirements at Naval Support Activity (NSA) Bahrain by providing a more resilient medium-voltage distribution system. USACE is supporting the U.S. Navy with Facilities… Read More


Videos | C-Suite Interviews
Article Image

Study says Adani port not responsible for coastal erosion in Thiruvananthapuram…

A ‘Draft White Paper’ commissioned by the Vizhinjam International Seaport Limited (VISL) has found that the Vizhinjam port has only “minimal” impact on the moderate-to-high erosion along the Valiyathura to Shanghumugham stretch of the Thiruvananthapuram coast.  

Royal IHC releases video on the 2022 highlights

Netherlands

https://www.royalihc.com/sites/default/files/video/XMAS%202022%20RIHC%20(1).mp4  

Imo State Govt Nigerian Navy Sign MoU for Dredging of Orashi River

Nigeria

Governor Uzodinma said this at the Government House, Owerri at the signing of a memorandum of understanding between the Imo State Government and the Nigerian Navy for the dredging of the River.  Source

Quay wall construction Amaliahaven work in progress

Netherlands

The construction of the quay wall at the Amaliahaven is a work in progress.  Source

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