
![]() International Maritime Club Newsletter |
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![]() The Port of Los Angeles, North America’s leading container seaport, has adopted a $1.5 billion budget for Fiscal Year 2020/21. The port said the budget was based on expectations of slower cargo volumes in the near term and a continued slowdown in the worldwide economy, due to market uncertainties related to the COVID-19 pandemic and the lingering impacts from the 2019 trade war. “Given the unprecedented issues facing the world today and the immediate impact they have had on the economy, we are taking a decidedly conservative approach to formulating this year’s Harbor Department’s budget,” said Jaime Lee, President of the Los Angeles Harbor Commission. “To best manage through these uncertain times, we focu sed this year’s revenues and expenditures on the port’s most urgent priorities—keeping the supply chain moving and investing in port infrastructure that will assure our competitiveness over the long term,” said Marla Bleavins, the Port’s Deputy Executive Director of Finance and Administration, and Chief Financial Officer. With cargo volumes projected to be relatively soft through the first six months of FY 2020/21, the approved budget forecasts that cargo volumes will decrease by approximately 15.6% over the previous fiscal year’s adopted budget to slightly over 7.9 million TEUs. The budget also projects a corresponding year-over-year decrease of 7.9% in operating revenues, with projected receipts totalling $460.1 million. Operating expenses are forecast at $277.8 million. (Credits: www.offshore-energy.biz) June 1st 2020 Edition
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Vole au vent back in Halifax for Siemens Gamesa kit The Siemens Gamesa turbine components destined for the Coastal Virginia Offshore Wind (CVOW) demonstration project are being loaded onto Jan De Nul’s jack-up vessel Vole au vent in the Port of Halifax, Canada. The vessel first departed from Canada to the project site offshore Virginia on 20 May, carrying the monopiles and transition pieces. After installing both foundations, Vole au vent ret
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The UK’s Oil and Gas Authority (OGA) has granted extensions to Egdon Resources for P1929 and P2304 licences offshore the UK. Oil major Shell farmed into the two licences in late January. Namely, it agreed to acquire 70 per cent stakes in both licences. Egdon’s UK subsidiary would retain the remaining 30 per cent interests. Shell will also be appointed as the licence operator. OGA
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Connector Subsea Solutions acquires Isotek Oil and Gas Connector Subsea Solutions (CSS) has completed the acquisition of Isotek Oil and Gas. The acquisition adds Isotek’s remote welding technology to CSS’s existing range of subsea pipeline repair capabilities which are primarily focused on mechanical clamp and connector pipe joining solutions. The Isotek workforce which numbers 15 people is transferring over to CSS with immediate effect. I
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NAMEPA Launches First Holistic CSR/ESG Program Designed for the Maritime Industry Cargill Qualifies for the First “Maritime Sustainability Passport” June 8, 2020 On the occasion of World Oceans Day, NAMEPA (North American Marine Environment Protection Association) has launched the first known comprehensive CSR/ESG (Corporate Social Responsibility/Environment, Social, Governance) program designed expressly for the maritime industry, with its corresponding Maritime Sustainability Passport” (MSP) awarded to companies, organizations and indi
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