Subsea 7 remains in red despite higher revenues

first_imgAccording to the company, the outlook for offshore oil and gas project awards remains positive with a steady improvement in tendering and award activity in the market, including progress on several large greenfield projects. Subsea 7’s pricing on new tenders has started to improve from a low level and over time is expected to return to more normal levels. There is a good level of tendering activity for offshore wind farms.Subsea 7’s guidance for the full year 2019 has been updated. Revenue is now expected to be broadly in line with 2018, Adjusted EBITDA is still expected to be lower and net operating income is expected to be positive.Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options. ‘Positive outlook’  UK subsea engineering, construction and services company Subsea 7 recorded a loss during the first quarter of the year while its revenues increased driven by its SURF and Conventional business unit.Subsea 7’s net loss remained nearly flat totaling $19 million in the first quarter 2019 compared to the net loss of $18 million in the same period last year.In 1Q 2019, the entire net loss was attributable to the parent company’s shareholders compared to $10 million in the prior year period.The subsea company recorded an increase in revenues during the first quarter of the year which totaled $859 million compared to $809 million in the corresponding quarter of 2018.The higher revenue in the SURF and Conventional business unit compared to the prior year period more than offset the significantly lower revenue in the Renewables and Heavy Lifting business unit, which declined due to the substantial completion of the EPIC Beatrice wind farm project in 2018.Total vessel utilization was 68% in the quarter, 16 percentage points higher than the prior year period partly due to higher levels of Diving Support and Inspection, Repair and Maintenance (IRM) activity. There were 34 vessels in the fleet at the quarter end following the acquisition of a DSV, Seven Pegasus, in January.At the end of March 2019, the company’s order backlog of $5.2 billion included new awards and escalations totaling $1.1 billion.last_img read more

After serving 1.9M meals, Iloilo City ends community kitchens

first_imgDonations from private individuals and groups also kept pouring in. She added that with the project, they were able to get in touch with the community. Public Employment Service Office (PESO) manager, Grace Centino and city focal person for the community kitchen, said they were both sad and happy that the initiative took its bow after almost three months of providing free meals. “For bigger barangays such as Calumpang, San Juan, Balabago, Tabuc Suba, we distribute per zone. We have at least five community kitchens so they will all be catered,” she said. ILOILO City – After preparing 1,903,036 meals to city residents here as the country battles the coronavirus disease 2019 (COVID-19) pandemic, the “240 Uswag (progress) Community Kitchens (UCKs)” served their last meals on Monday. The project initiated by the city government was rolled out on March 22, a week after the metropolis was placed under enhanced community quarantine. On its last day, the kitchens served 16,048 families. “Most of the people were thankful with the assistance because none of our constituents went hungry,” she said. In his press conference on Monday, Mayor Jerry Treñas said the city government spent around P6 million for the acquisition of meat and another P6 to P7 million for chicken used for the community kitchens. The community kitchens were hosted by 204 daycare centers and 37 barangay halls.center_img “They cook whatever ingredients are available as long as it’s healthy,” she said. They are served either with breakfast, lunch, or snacks depending on their menu. A weekly menu is being prepared and ingredients are delivered on Mondays and Tuesdays. They have to be good at balancing, such that smaller barangays will have lesser supplies compared with bigger ones. A total of 205 daycare workers, 180 supplemental feeding workers and 447 parent leaders of the Pantawid Pamilya Pilipino Program were tapped to cook and distribute the prepared meals. During the lockdown period, the Iloilo City Government was able to run 240 community kitchens that serve at least two hot meals a day to barangays around the metro. A total of 205 daycare workers, 180 supplemental feeding workers and 447 parent leaders of the Pantawid Pamilya Pilipino Program were tapped to cook and distribute the prepared meals. ILOILO CITY GOVERNMENT PAGE He said the initiative has helped a lot as he thanked the people who volunteered for the project. (Philippine News Agency/PN) If they have small populations, then they are served with food daily. However, those with huge populations are served by zones. Centino said segregation of food distributed to barangays was quite a challenge.last_img read more

Corey Seager injury update: Dodgers fear shortstop suffered serious hamstring strain

first_imgHow long will Corey Seager be out?He was initially diagnosed with a Grade 2 hamstring strain but will undergo an MRI on Wednesday. The team fears Seager could miss 4-6 weeks with the injury.Manager Dave Roberts said he was hesitant to put a timetable on Seager’s return so soon, but gave an optimistic estimate of “two-plus” weeks. Related News Yankees exploring trade market for ‘impact’ player, Brian Cashman says “We all feel bad for Corey,” Roberts told reporters. “Obviously, very unfortunate, the way that he’s playing and what he means to our ballclub. With what he’s done to overcome two surgeries and get into good playing shape. He’ll get back on the rehab trail and we’ll get him back as soon as we can.”What Corey Seager, Dave Roberts said of the injuryLike most hamstring injuries, this one came out of nowhere for Seager.“Just coming around third, it grabbed pretty good,” Seager said. “ Just kind of one bad step, I guess.” #LABleedsBlue Corey Seager said he felt some type of tweak in his hamstring and will have an MRI on Wednesday pic.twitter.com/AavQbWiOXj— NICK HAMILTON (@NickHamiltonLA) June 12, 2019Third baseman Justin Turner added (via ESPN.com): “He was swinging the bat well. That’s probably part of it — he was swinging the bat so well he was on the bases three, four times a game. Doubles, first-to-thirds. When you have that kind of volume, and you get hot weather like this, it’s almost a recipe for something to come up. Unfortunately it hit him.”What does Corey Seager’s injury mean for the Dodgers?Seager has enjoyed a nice age-25 season after missing most of last season to Tommy John surgery. He’s batting .278/.359/.468 with eight home runs and 38 RBIs in 66 games.L.A. addressed Seager’s injury in 2018 by trading for Manny Machado, but he has since signed with the Padres. This means Chris Taylor and Enrique Hernandez will get most of the action at shortstop while Seager recovers.center_img The Dodgers have enjoyed a largely carefree season, cruising to a nine-game lead over the Rockies in the NL West with the best record in the National League (45-23).But the ever-present injury bug bit star shortstop Corey Seager on Tuesday in a 5-3 loss to the Angels as he came up lame when running the bases in the ninth inning. Josh Donaldson wins appeal of one-game suspension for role in Braves-Pirates skirmishlast_img read more