WW reduces fleet and cancels dividend in COVID-19 response
PRESS RELEASE – Wallenius Wilhelmsen (WW) is taking “decisive action” in response to the coronavirus. The company will reduce its active fleet by sending 10 vessels into cold lay-up, scrapping another four vessels and possibly...Read more
Van Oord had tough 2019, prepares for “another challenging year”
Van Oord has had a tough year in 2019 with rising debt and lower revenue and profit as a result of the difficult dredging market. Confronted with the coronavirus, “2020 looks set to be another...Read more
DSV withdraws guidance for 2020 as corona impact starts to show
DSV has withdrawn its 2020 guidance of USD 1.1 billion as the coronavirus outbreak is heavily affecting the company’s income. In February, the result was already USD 21 million below budget and with the virus...Read more
Jumbo: “Our ships continue sailing”
Following the Dutch measures to slow down the spread of the coronavirus, Jumbo Shipping has reported its ships have received the necessary instructions and, for now, continue their schedule. The company’s offices have been closed...Read more
More than 200 European oilfield service providers face bankruptcy
More than 200 European mid- and small-sized oilfield service companies face insolvency as Covid-19 will hit the market hard and cut purchases by USD 5 billion year-on-year, a new analysis by Rystad Energy shows. In pre-coronavirus...Read more
Siemens Gamesa: “We will maintain manufacturing and installation operations”
While the coronavirus is reaping havoc and the oil price plunged below 30 dollars, Siemens Gamesa has provided a shred of good news in an otherwise disastrous week: the wind turbine manufacturer will be able...Read more