The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Https://www.offshore-energy.biz/uk-consortium-to-develop-and-build-zero-emission-tugs/
Getting below net asset value territory
Director buying sub 500p thinking I'll do likewise shortly..
Harland & Wolff have cut first steel on a new cable barge it is building for Portsmouth-based KBS Maritime Ltd.
The ceremony took place at Harland & Wolff’s Appledore ship factory in North Devon and was attended by technical representatives from KBS Maritime and Harland & Wolff’s engineering team.
In a contract valued at approximately £800,000, Harland & Wolff has designed and will deliver in Spring 2024, a specialist cable barge that will enter service in His Majesty’s Naval Base (HMNB) Portsmouth.
All construction work will be carried out at Appledore in parallel with existing defence and commercial projects currently underway at the site.
Harland and Wolff Shipbuilding and Heavy Industries Ltd., Belfast, Ireland, has been awarded a major contract by Bluewater to convert double-hulled oil tanker Glas Dowr into a Floating Production, Storage and Offloading (FPSO) vessel. Harland and Wolff will be responsible for marine conversion, including: moonpool fabrication and turret installation; fabrication and installation of an elevated process facilities deck and flare tower; removal of redundant equipment and the installation of additional equipment; upgrading of existing systems and accommodation to U.K.
North Sea standards; and installation of offloading equipment to enable the transfer of crude oil from FPSO to shuttle tanker.
Work on the vessel was scheduled to begin immediately and to last approximately 24 weeks.
Following conversion, the 105,000-dwt oil tanker will have an oil storage capacity of approximately 660,000 barrels, and a process plant with a maximum output of 60,000 bhp. The vessel will be leased by Amerada Hess from Bluewater for use in its Durward and Dauntless discoveries in the central North Sea.
"We are delighted to have secured this major conversion contract in the face of strong international competition involving a number of yards worldwide. This contract consolidates the position of Harland and Wolff as an FPSO contractor for both major conversions and newbuildings," said Per Nielsen, chief executive of Harland and Wolff.