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Hard Times for Uljanik, Jan De Nul Wants Money Back

first_imgJan De Nul Group is demanding the repayment of all installments paid to Croatia’s troubled Uljanik Shipyard, plus interest, after they cancelled an order for Newbuilding 500 – a cutter suction dredger.The Shipbuilding Contract for Hull 500 was signed two years ago between Uljanik d.d. and Dredging and Maritime Management SA (DMM) Luxembourg, the company in ownership of Jan de Nul Group.On April 19, the client said that it would seek the repayment of its advance payments for the vessel that was to have been built by the shipyard, Uljanik said in a statement via the Zagreb Stock Exchange.“Upon the negotiations which lasted few months among the Buyer, institutions of Republic of Croatia and Uljanik d.d. which aimed that instead repayment of advance payments the vessel be completed in Uljanik Shipyard or alternatively in foreign shipyard, the Buyer made final decision by which he requests repayment of advance payments increased for the interest,” the statement said.According to the subject, Shipbuilding Contract Uljanik d.d. is obliged in period of seven days from receipt of the request in headquarters of the company to effect repayment of advance payments increased for interest whereby the part of advance payments has been secured by state guarantees.The interested parties will continue to work on finding a solution to reduce the harm the latest developments are expected to cause to the state and the shipyard.last_img read more

Norwegian oil output in July above NPD prediction

first_imgThe totalpetroleum production for the first seven months in 2020 is about 134.8 millionSm3 oil equivalents (MSm3 o.e.), broken down as follows: about 57.6 MSm3 o.e.of oil, about 10.9 MSm3 o.e. of NGL and condensate and about 66.2 MSm3 o.e. ofgas for sale. Oil production in July is 0.8 per cent higher than the NPD’s forecast, and 0.1 per cent below the forecast so far this year. Averagedaily liquids production in July was: 1,739,000 barrels of oil, 296,000 barrelsof NGL, and 27,000 barrels of condensate. It is worthnoting that, the Norwegian Government decided to implement a cut in Norwegianoil production 29 April 2020. The production figures for oil in July includedthis cut of 134,000 barrels per day. The cut will apply for the entire secondhalf of 2020. The NPD saidthat the oil production forecasts have been updated in the Government’sproposed Revised National Budget for 2020. The updatewas presented on 12 May and takes the authorities’ oil production regulationinto account, as well as the delayed start-up of fields under development andoil production in the first quarter.center_img According tothe directorate’s report on Monday, preliminary production figures for July2020 show an average daily production of 2,062,000 barrels of oil, NGL, andcondensate. Source: NPD Norwegian oil production in July has risen above predictions made by the Norwegian Petroleum Directorate (NPD) after June’s numbers were below expectations. The totalvolume is 7.3 MSm3 o.e. higher than in 2019.last_img read more

Gallery: Syracuse falls in final seconds to Notre Dame, 51-49

first_imgSyracuse (12-4, 1-2 Atlantic Coast) struggled from the field in its 51-49 loss to Notre Dame (13–3, 3–0) but the Fighting Irish shot the ball at a lower clip. It was 21 offensive rebounds by UND that made the difference in the defensive battle, including a Rex Pflueger putback on Notre Dame’s final offensive board of the game with just over two seconds remaining. Here are the best images from SU’s loss on Saturday. Comments Published on January 6, 2018 at 8:47 pm Facebook Twitter Google+last_img read more