Finance News

 Richard Minogue  (Photo: FarSounder)

FarSounder Hires Minogue

FarSounder has announced Richard Minogue as Office & Finance Administrator. He will work closely with the CEO on accounting, corporate contracts, and human resources, in addition to providing administrative support to the FarSounder team.Minogue joins FarSounder with a background in human resources and finance. Much of his career has been at Brown University where he developed his skills supporting the School of Engineering.

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Atlantic Offshore Wind: Favorable Winds for Maritime

progress for OSW farms. This is also the case for what type of visa should be issued to specialists serving aboard OSW support vessels. (This will be addressed in the next issue of Maritime Reporter & Engineering News. )The current end of the PTC is also discouraging to developers who have to finance their own projects—albeit with some state support. The Department of Energy loan guarantee program and port infrastructure grants are other finance options.  ConclusionsOffshore wind is coming to the United States and a maritime community near you, accompanied by good jobs and clean renewable

Ole Martin Grimsrud (Photo: Aker Solutions)

Grimsrud Named CFO of Aker Solutions

Ole Martin Grimsrud has been appointed Chief Financial Officer of Aker Solutions, effective August 1, 2019. He replaces Svein Oskar Stoknes, who is taking over as CFO of Aker on the same day.Grimsrud joined Aker Solutions in 2012 as Vice President, Finance for the subsea business. He has held several senior management positions in the company since, most recently as Senior Vice President, Group Treasury, Controlling and Mergers & Acquisitions. He previously held various positions within finance, strategy and operations in the Norwegian industrial groups Elkem and Norske Skog. Grimsrud will

Brad Moore (Photo: PMI)

PMI Adds Moore as Manager, Sales & Marketing

;s brand worldwide and directing the company’s sales efforts. Moore recently was the Senior Business Development Manager at Beckett Energy Systems (Ohio, USA). Prior to Beckett, he was Vice President of Marketing for the Oatey Company (Ohio, USA). Mr. Moore received an MBA in marketing & finance from The University of Chicago and a BS in chemical engineering from Iowa State University

(Photo: Aker Solutions)

Aker Solutions Raises 2019 Forecasts

to 636 million crowns from 384 million crowns a year earlier, beating a forecast of 615 million crowns.Shares in Aker Solutions rose 2.8 percent by 0942 GMT.The company is currently bidding for tenders worth 55 billion Norwegian crowns and expects some key projects to be approved in six to 12 months, finance chief Svein Stoknes told a news conference."Offshore spending is forecast to increase by up to 5 percent in 2019 and accelerate to 5-15 percent in 2020 according to industry estimates," CEO Luis Araujo said.Rival Halliburton this month said that it expects global offshore spending to rise

Photo: Schmidt Ocean Institute

A SmallSat AUV Network

, built and deployed the AI-based embedded T-REX autonomous controller on AUVs, as well as a shore-based support system!Cost-efficient commsWhile the Norwegian AUV lab at NTNU is poised to log the great achievement of a SmallSat launch at sea, the funding of the Norwegians cannot be overstated. The finance outmatches EU funds, and it does for AUV and oceanographic research in Norway what the Schmidt Institute did for Porto’s ocean fronts study and the work of other oceanographic researchers.“Funding is a serious issue in doing marine robotics and/or ocean science,” Prof. Rajan writes

Photo: ZX Lidars

NRG Systems and ZX Lidars Partner

a range of wind, solar, and meteorological applications, has announced that it will now sell and support ZX Lidars in North America. This will include the ZX 300 for onshore vertical profiling applications and the ZX 300M for near-shore or platform-based offshore applications. Both models capture finance-grade wind measurements from 10 to 200+ meters and are fully IEC classified and accepted by DNV GL as Stage 3 Bankable Lidars.To support the sale of ZX 300 and ZX 300M units, NRG will also offer custom power solutions, validation services, monitoring services, and inspection and update services

Image: NERC

Barclays Rejects Arctic Drilling

subject to Enhanced Due Diligence (EDD),” and the bank “will conduct EDD on any financing transaction directly connected with the exploration or extraction of oil or gas in the Arctic.” Critically, the policy notes that “under the EDD framework, we would not expect such project finance proposals to meet our criteria.”The announcement from Barclays is the latest in a series of major financial institutions rejecting drilling in the Arctic. Some of the world’s largest banks have made similar commitments, including HSBC, BNP Paribas, Royal Bank of Scotland, Societe Generale

MD Dave Acton, FD John Brebner, Sales & Operations Director James Gregg. (Photo: Motive Offshore Group)

Motive Offshore Appoints Brebner as Finance Director

headquartered in Boyndie, Aberdeenshire, has seen a record turnover for 2018 and is set to exceed its projected 20% increase on the previous year.To support founding directors James Gregg and Dave Acton with their ongoing growth strategy for the business, John Brebner has joined the management team as finance director as Motive plans to start on the acquisition trail in 2019.Brebner, who has been a non-executive director on Motive’s board since February last year, is a finance specialist with 34 years banking experience and is a seasoned advisor to SME and corporate businesses.  He is currently

Sistac  Diver ready for action. Photo Sistac

SISTAC: Brazil´s Homegrown Subsea Service Provider

. He is the former CFO, Investor Relations Director and International Board Member of Wilson Sons Limited – one of the largest listed port and maritime logistics providers in Brazil – where he held his first position as Investment Manager in 1998. From 1994 to 1998, he served as planning and finance executive at Shell Brasil. Gutterres holds a diploma in General Management from Harvard Business School, a MBA from COPPEAD, and graduation in Economics from UFRJ. “I saw a lot of potential in the company, good and engaged people, good assets, good positioning and with possibilities growth

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