COLUMN | Petrofac-ed, the Wood Group and Petroserv: restructurings and transformation [Offshore Accounts]

“Fix the balance sheet before you fix the business.” This was the sage advice we gave two weeks ago when we compared Tidewater to its moribund and indebted competitors. We noted that Hornbeck, Bourbon, and Edison Chouest still have some way to go in resolving their balance sheet problems. But if...

https://www.bairdmaritime.com/work-boat-world/offshore-world/column-petrofac-ed-the-wood-group-and-petroserv-restructurings-and-transformation-offshore-accounts/

New Turkey service for RSGT

Leading Jeddah container terminal operator, Red Sea Gateway Terminal (RSGT), recently welcomed the first call of the Istanbul-based Turkon Line’s new Türkiye-Red Sea Service, with the arrival of the 1,145 TEU capacity Leyla Kalkavanon March 11th. The weekly service links the ports of Mersin and Iskenderun in Turkey with the ports of Aqaba and Jeddah in the Red Sea region.

RSGT last month set a new terminal record for containers handled on a single vessel with 15,951 TEU moved onto and off of...

https://www.themaritimestandard.com/new-turkey-service-for-rsgt/

Royal Saudi Naval Forces takes delivery of final corvette in class

The Royal Saudi Naval Forces (RSNF) has taken delivery of the final one of five Avante 2200 corvettes built by Spanish shipyard Navantia. Unayzah and its four earlier Al-Jubail-class sisters are variants of Navantia’s Avante 2000 series of corvettes, which were developed primarily for the export...

https://www.bairdmaritime.com/work-boat-world/maritime-security-world/naval/ships-naval/royal-saudi-naval-forces-takes-delivery-of-final-corvette-in-class/

COLUMN | Winner takes it all: Boskalis binges with record profits, as Boluda takes silver and McDermott gets sued (again) [Offshore Accounts]

Whilst the first big consolidator of this offshore upcycle was Tidewater, rapidly followed by ADNOC and AD Ports of Abu Dhabi, Europe is also experiencing a quiet wave of consolidation. Driving this is the biggest of the “Big Four” lowlands dredging and offshore companies, Boskalis. But whereas the gains in Tidewater have been open to […]

The post COLUMN | Winner takes it all: Boskalis binges with record profits, as Boluda takes silver and McDermott gets sued (again) [Offshore Accounts] appeared...

https://www.bairdmaritime.com/work-boat-world/offshore-world/column-winner-takes-it-all-boskalis-binges-with-record-profits-as-boluda-takes-silver-and-mcdermott-gets-sued-again-offshore-accounts/

Milestone for Bahri’s new Jeddah logistics centre

In the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services and Chairman of the Saudi Ports Authority, the National Shipping Company of Saudi Arabia (Bahri) has laid the foundation cornerstone for a new logistics centre at Jeddah Islamic Port. The ceremony was also graced by Omar Hariri, President of the Saudi Ports Authority (Mawani) and Eng. Ahmed Ali Al-Subaey, CEO of Bahri.

This new facility, which will cover a total area of 95,436 m2, will be...

https://www.themaritimestandard.com/milestone-for-bahris-new-jeddah-logistics-centre/

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