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News Article | May 10, 2017
Site: globenewswire.com

Bij de bekendmaking van de jaarcijfers 2016 is aangegeven dat het marktbeeld voor de komende periode in het teken zou staan van aanhoudend lagere werkvolumes en druk op de bezetting en marges. Het beeld in het eerste kwartaal 2017 lag in lijn met deze verwachting en de resultaten lagen eveneens in lijn met de eigen financiële verwachtingen. Ten opzichte van dezelfde periode vorig jaar nam de omzet af bij een nagenoeg stabiele vlootbezetting. De zwakke marktomstandigheden resulteerden in een aanzienlijk lager resultaat, in het bijzonder bij Offshore Energy. De orderportefeuille is in de loop van het eerste kwartaal toegenomen mede als gevolg van een aantal omvangrijke Dredging contracten. In de divisie Dredging & Inland Infra is de omzet in vergelijking met het kwartaalgemiddelde van vorig jaar licht afgenomen bij een gemiddeld lagere marge. Vermeldenswaardige projecten in het eerste kwartaal betroffen havenwerkzaamheden in onder andere het Verenigd Koninkrijk, Zweden, Zuid-Korea en Brazilië en de aanleg van een eiland nabij Panama-Stad. De bezetting van de hoppervloot was naar omstandigheden goed en lag licht hoger dan de gemiddelde bezetting in 2016. De Queen of the Netherlands, de grootste sleephopperzuiger in de vloot, is begin april weer in de vaart genomen na een grote reparatie. De bezetting van de cuttervloot was in het eerste kwartaal goed na een zeer rustig 2016. De orderportefeuille van Dredging & Inland Infra is ten opzichte van eind 2016 toegenomen. Vermeldenswaardige nieuw aangenomen projecten betreffen de ontwikkeling van de haven van Duqm (Oman), het verdiepen en verbreden van het toegangskanaal naar Jawaharlal Nehru Port in Mumbai (India), havenwerkzaamheden in Brazilië en Australië en een verlenging van het lopende Fox River saneringsproject in de Verenigde Staten. Bij Offshore Energy verliep het eerste kwartaal conform verwachting met een afname van zowel de omzet als het resultaat. Het contracting deel van de divisie met o.a. Installation & Intervention en offshore wind activiteiten heeft met lopende projecten en met afwikkelresultaten van oude projecten goed bijgedragen. De medio 2016 overgenomen offshore activiteiten van VolkerWessels hebben in belangrijke mate bijgedragen met lopende kabellegprojecten zoals Galloper en Wallney. Bij Transport & Marine Services hebben de projecten Aasta Hansteen en Mariner in belangrijke mate bijgedragen aan de omzet. De bezetting van de Dockwise-schepen lag op een vergelijkbaar niveau als in 2016. Bij Subsea Services is de winterperiode op de Noordzee seizoensmatig rustiger. De bezetting van de schepen was derhalve laag en dit kon slechts ten dele worden opgevangen met de inzet op offshore windpark- en munitieruimingsprojecten in Europa. Het orderboek van Offshore Energy is ten opzichte van eind 2016 stabiel. Alle Towage activiteiten zijn met ingang van het tweede kwartaal 2016 ondergebracht in regionale joint ventures. De resultaten van deze activiteiten worden uitsluitend verantwoord als resultaat joint ventures en deelnemingen. Dientengevolge heeft Towage in 2017 niet aan de omzet bijgedragen, daar waar in het eerste kwartaal 2016 de Noordwest-Europese havensleepactiviteiten dat nog wel deden. De resultaatbijdrage van Towage nam af onder invloed van lagere volumes en minder speciale assistenties die in het verleden met enige regelmaat voor klanten in de olie- en gassector werden verricht. Gelet op de positieve ontwikkeling van de orderportefeuille bij Dredging & Inland Infra is een goed deel van de vloot voor 2017 bezet, zij het tegen lagere marges dan in voorgaande jaren. Bij het aannemen van nieuwe werken ligt de nadruk nog altijd op het behoud van bezetting tegen verantwoorde projectrisico's. Bij Offshore Energy zijn de vooruitzichten onveranderd. Met het afronden van lange termijn contracten uit voorgaande jaren neemt de afhankelijkheid van de spotmarkt (services) toe, daar waar de margedruk in het services deel van de markt onverminderd groot is. Sinds begin 2016 zijn alle Towage-activiteiten in joint ventures ondergebracht. Marktvolumes zijn hier relatief stabiel, maar ook hier is ten opzichte van voorgaande jaren sprake van een lagere winstgevendheid. Om in te spelen op deze marktontwikkelingen is vorig jaar een vlootrationalisatie- en kostenreductie-programma gestart. In 2016 is reeds een belangrijk deel van het vlootrationalisatieprogramma uitgevoerd en middels een impairment is een deel van de offshore vloot en goodwill afgewaardeerd. Het laatste deel van het kostenreductieprogramma is gericht op het verlagen van de kosten van het hoofdkantoor. De conclusies van de studie zullen binnenkort bekend worden gemaakt. Gegeven het projectmatige karakter van een significant deel van onze activiteiten, met daarenboven de onzekere marktomstandigheden, is het moeilijk om vroeg in het jaar een concrete kwantitatieve uitspraak te doen over het verwachte jaarresultaat 2017. Wel staat vast dat het nettoresultaat lager zal uitkomen dan het voor impairmentlasten gecorrigeerde resultaat van 2016. Koninklijke Boskalis Westminster N.V. is een toonaangevende internationale dienstverlener op het gebied van baggeren, maritieme infrastructuur en maritieme diensten. De onderneming levert wereldwijd creatieve en innovatieve totaaloplossingen voor infrastructurele uitdagingen in maritieme gebieden, kuststreken en rivierdelta's met onder meer de aanleg en onderhoud van havens en vaarwegen, creatie van land in water en bescherming van kusten en oevers. Tevens voert Boskalis projecten uit en levert het een breed spectrum aan maritieme diensten voor de olie- en gassector en offshore windindustrie en voert het scheepsbergingen uit (SMIT Salvage). Daarnaast heeft Boskalis meerdere strategische partnerships in havensleep- en terminaldiensten (KOTUG SMIT Towage, Keppel Smit Towage, Saam Smit Towage en Smit Lamnalco). Met een veelzijdige vloot van ruim 900 schepen en vaartuigen en 11.700 medewerkers, inclusief deelnemingen, is de onderneming actief in meer dan 90 landen, verspreid over zes continenten.


News Article | May 10, 2017
Site: www.marketwired.com

Appointments of Andy Hudson to Chief Networks Officer and Kevin Foley to Chief Financial Officer Accompanies Plans to Develop the CeltixConnect-2 Subsea Cable DUBLIN, IRELAND--(Marketwired - May 10, 2017) - Aqua Comms DAC ("Aqua Comms"), the operator of Ireland's first dedicated subsea fibre-optic network interconnecting New York, Dublin and London, today announces the appointment of two new members to its executive leadership team. Andy Hudson has been named Chief Networks Officer and Kevin Foley has been named Chief Financial Officer. Mr. Hudson is a telecommunications industry veteran with over 30 years of global experience in optimising mobile, fixed and subsea operations. Most recently, he was the COO of the Bermuda Telephone Company (wholly owned by Digicel), where he held operational responsibility for network planning and engineering, service delivery, maintenance, and data centre and facility management. Mr. Foley has a wealth of experience in the telecom industry, including previous board level and executive leadership roles with companies in the carrier, interconnect, internet, mobile, voice and TV sectors. Prior to joining Aqua Comms, he was the Chief Financial Officer for Cable & Wireless Barbados, (Flow), a Liberty Global company. Mr. Foley was also a Board Member of Cable & Wireless Communications Insurance Ltd., and has held other C-suite roles at Cable & Wireless, including CFO, Cayman Islands, and Finance Director of Carrier Services. The new appointments to Aqua Comms' executive leadership team follow a dynamic period of growth since America-Europe Connect (AEConnect) launched in January 2016. The transatlantic cable system is moving steadily ahead with sales on track, and the company recently conducted successful tests of new and advanced transmission technologies that when deployed will further enhance and expand its total available capacity. Additionally, Aqua Comms has begun to develop CeltixConnect-2, a diverse, high capacity subsea cable system crossing the Irish Sea from Dublin to Manchester and connecting to the Isle of Man. CeltixConnect-2 is a resilient system designed to complement the reliability of Aqua Comms' existing Irish Sea subsea cable network, CeltixConnect-1. The new cable system, which will provide onward connectivity to New York and London through AEConnect, will utilise the most advanced fibre-optic technology to support the highest transmission capabilities, including 8QAM (quadrature amplitude modulation), 16QAM and beyond. Formal survey work for CeltixConnect-2 will commence in the coming quarter. In addition to CeltixConnect-2, Aqua Comms is in preliminary stages of development on North Sea Connect, the first modern, high capacity subsea cable system crossing the North Sea from the North East UK to Denmark. Aqua Comms also has plans to expand available connectivity to AEConnect at its Point of Presence (PoP) at 1025Connect in Westbury, New York, a critical subsea cable launch point on Long Island. Additionally, it will soon increase the system's footprint by opening service capabilities in Ashburn, Virginia, and at NJFX, a carrier-neutral colocation facility located in Wall, New Jersey, to better serve expanding and new customer requirements. "As we embark on the development of two new subsea cable systems, CeltixConnect-2 and North Sea Connect, the diverse global telecom experience and commercial focus that both Andy Hudson and Kevin Foley possess will become an immediate asset to our strategic vision of providing next-generation, international connectivity," comments Nigel Bayliff, CEO, Aqua Comms. "Aqua Comms' focus is to facilitate a superhighway to feed the digital economy, and we are intent on expanding the available capacity on our existing subsea networks by pushing the boundaries of technology, developing new cable routes, and extending the terrestrial reach of our systems to satisfy that demand." To meet with the Aqua Comms team at International Telecoms Week (ITW) 2017, taking place May 14-17 in Chicago, email info@aquacomms.com. For more information about Aqua Comms, visit www.AquaComms.com or email media@aquacomms.com. About Aqua Comms DAC Aqua Comms DAC is the owner and operator of the transatlantic cable AEConnect and the Irish Sea cable CeltixConnect-1, and was established with a vision to build, acquire or merge with subsea fibre-optic cable networks to provide capacity networking solutions to the global media, content providers and IT companies. To learn more about Aqua Comms and its new transatlantic subsea cable system, AEConnect, visit www.AquaComms.com.


HOUSTON, May 09, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today that Ty Lawrence has been appointed Vice President, Treasurer and Investor Relations, replacing Kathy Murray who has been appointed Vice President of Finance for Project Execution and Delivery. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/90ba574b-e695-4191-adfe-0d1719d01e08 “These moves ensure McDermott continues to build the strength of our leadership team by expanding their breadth and depth of experience,” said Stuart Spence, Executive Vice President and Chief Financial Officer for McDermott. “These moves provide both Ty and Kathy new experiences and opportunities to broaden their understanding of McDermott’s vast business and position them for continued success within our company.” Prior to this appointment, Ty Lawrence was Senior Director of Finance for McDermott’s Americas, Europe and Africa Area (AEA). He joined McDermott in 2013 and has previously held the roles of Subsea Finance Director and Senior Finance Director for Commercial and Project Support. Ty is a trained chartered accountant with over 20 years of experience working for various listed and private equity companies across a variety of industry sectors mainly in London, in roles of increasing responsibility. “I look forward to working with the investment and financial communities to strategically broaden McDermott’s investor base and highlight the tremendous value McDermott brings as the engineering, procurement, construction and installation leader in the offshore and subsea market,” said Ty Lawrence. McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 13,500 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver.  McDermott has served the energy industry since 1923. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website at www.mcdermott.com.


News Article | May 9, 2017
Site: www.undercurrentnews.com

Atlantis Subsea Farming intends to appeal the Norwegian directorate of fisheries' decision to reject some of its development license applications, parent company Akva Group has said. Atlantis Subsea applied for six development licenses in January 2016; in March 2017 the directorate informed it the concept had progressed another step further in the process to be awarded development licenses. However, the application would be limited to two licenses, with four rejected. "The company has considered the feedback from the directorate, and has decided to appeal the decision. The appeal is limited to the rejection of two of the four rejected licenses," said Akva.


News Article | May 9, 2017
Site: globenewswire.com

Atlantis Subsea Farming AS (the "Company") applied for 6 development licenses the 29th of January 2016. On March 10th 2017, The Norwegian Directorate of Fisheries informed the Company that the Company's concept had progressed another step further in the process to get awarded development licenses.  Further, The Directorate informed that they would go ahead with processing the application limited to 2 licenses, but did reject the application in terms of the other 4 permits applied for. The Company have considered the feedback from The Directorate, and has decided to appeal the decision. The appeal is limited to the rejection of 2 of the 4, rejected licenses. The appeal will be submitted to The Directorate today.            Dated: May 9(th), 2017   AKVA group ASA Web: www.akvagroup.com This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.


News Article | May 9, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- Infinera, a provider of Intelligent Transport Networks, announced a successful subsea field test with Canalink across its subsea cable. The test, conducted with the Infinera Infinite Capacity Engine (ICE4) and featuring Infinera's fourth-generation photonic integrated circuit (PIC), demonstrated the capability to upgrade the cable capacity 13-fold. Canalink, a wholly-owned subsidiary of the ITER group, owns a system of undersea fiber optic cables that link the Canary Islands with the Iberian Peninsula and the western coast of Africa. Canalink also has exchange agreements with other operators, and participates in undersea cable consortia aiming to connect Europe with Africa, transforming Tenerife, and the D-Alix datacenter specifically, into a node for the massive exchange of neutral data traffic. The test was conducted on Canalink’s 1,393 kilometer subsea cable, linking the Conil landing point on the Spanish mainland with Tenerife in the Canary Islands. Conducted across three fully-loaded channel plans at 37.5 gigahertz (GHz), 50 GHz and 25 GHz channel spacing, the test validated advanced compensation techniques and new modulation schemes including: “The successful field test with Infinera demonstrated that we can achieve approximately 13 times more capacity than we initially estimated on our subsea link,” said Carlos Suárez, General Director of Canalink. “Infinera's Infinite Capacity Engine and its innovative technology designed for subsea operators prove that its deployment can enable us to protect our investment and maximize the use of our infrastructure.” “Infinera is committed to bringing advanced capabilities to the subsea market, and we are pleased to enable Canalink to maximize capacity on their systems,” said Scott Jackson, Infinera Vice President, Subsea Business Group. “This test validates the benefits of ICE4 Nyquist subcarriers and SD-FEC gain sharing, enabling subsea cables to move to higher modulation formats for increased fiber capacity and greater return on the asset.” Infinera introduced the Infinite Capacity Engine-based subsea platforms, including the XTS‑3300 and XTS‑3600 meshponders, and upgraded its DTN-X XTC Series to 12 terabits per second (Tb/s) earlier this year. The new platforms feature Infinera’s Advanced Coherent Toolkit (ACT), which delivers innovations including Nyquist subcarriers, SD-FEC gain sharing, and matrix-enhanced phase-shift keying (ME-PSK). About Infinera Infinera (NASDAQ:INFN) provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at www.infinera.com/blog. Infinera and the Infinera logo are registered trademarks of Infinera Corporation. This press release contains forward-looking statements including, but not limited to the potential operational, technical and economic benefits of deploying Infinera products and solutions on subsea networks. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera’s business, is contained in the risk factors section and other sections of Infinera’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC on February 23, 2017, as well subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.


News Article | May 9, 2017
Site: globenewswire.com

Atlantis Subsea Farming AS (the "Company") applied for 6 development licenses the 29th of January 2016. On March 10th 2017, The Norwegian Directorate of Fisheries informed the Company that the Company's concept had progressed another step further in the process to get awarded development licenses.  Further, The Directorate informed that they would go ahead with processing the application limited to 2 licenses, but did reject the application in terms of the other 4 permits applied for. The Company have considered the feedback from The Directorate, and has decided to appeal the decision. The appeal is limited to the rejection of 2 of the 4, rejected licenses. The appeal will be submitted to The Directorate today.            Dated: May 9(th), 2017   AKVA group ASA Web: www.akvagroup.com This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.


News Article | May 10, 2017
Site: globenewswire.com

Developments at Royal Boskalis Westminster N.V. (Boskalis) in 2017 have so far proceeded in line with the company's expectations. ·         Lower revenue as a result of continued challenging market conditions in the offshore sector ·         Further pressure on profitability ·         Reasonable fleet utilization at both Dredging and Offshore Energy ·         Increased order book At the release of the 2016 annual results Boskalis announced that the market picture for the coming period would be characterized by continued lower volumes of work and pressure on both utilization levels and margins. The situation in the first quarter of 2017 was in line with this expectation and the results also met the company's own financial expectations. Compared to the same period last year revenue declined at virtually stable fleet utilization rates. Weak market conditions resulted in a considerably lower result, particularly at Offshore Energy. The order book rose in the course of the first quarter, due in part to a number of sizable Dredging contracts. Revenue at the Dredging & Inland Infra division declined slightly compared to the quarterly average achieved last year against a lower average margin. Notable projects in the first quarter included port activities in the UK, Sweden, South Korea and Brazil as well as the construction of an island off the coast of Panama City. Given the circumstances, the utilization rate of the hopper fleet was good and slightly higher than the average utilization rate in 2016. The Queen of the Netherlands, the largest trailing suction hopper dredger in the fleet, came back into service in April after extensive repairs. The utilization rate of the cutter fleet was good in the first quarter following an extremely quiet 2016. The order book of the Dredging & Inland Infra division increased compared to the end of 2016. Notable new projects contracted include the development of the port of Duqm (Oman), the deepening and widening of the access channel to Jawaharlal Nehru Port in Mumbai (India), port activities in Brazil and Australia and an extension of the Fox River cleanup project in the United States. Offshore Energy At Offshore Energy there was a decline in both revenue and the result in the first quarter, in line with expectations. The contracting part of the division including Installation & Intervention and the offshore wind activities contributed well with projects in progress and positive financial settlements from previously completed projects. The offshore activities acquired from VolkerWessels in mid-2016 made a significant contribution with cable-laying projects in progress such as Galloper and Wallney. At Transport & Marine Services the Aasta Hansteen and Mariner projects made a significant contribution to revenue. The utilization rate of the Dockwise vessels was comparable to the level seen in 2016. At Subsea Services the winter season on the North Sea is traditionally quieter. The utilization rate of the vessels was therefore low and this could only partly be offset by the deployment of vessels at offshore wind farm projects and unexploded ordnance disposal projects in Europe. The Offshore Energy order book was stable compared to the end of 2016. Salvage had a quiet start to the year compared to the same period last year which featured a number of larger emergency response contracts. In the absence of sizable wreck removal projects revenue therefore declined. All Towage activities were transferred into regional joint ventures with effect from the second quarter of 2016. The results of these activities are only recognized as results from joint ventures and associates. As a result Towage did not contribute to revenue in 2017, contrary to the first quarter of 2016 when the harbor towage operations in northwestern Europe still contributed. The contribution from Towage to the result declined due to lower volumes and fewer 'specials' that in the past were carried out with a certain degree of regularity for clients in the oil and gas sector. The market in general has not changed substantially since the release of the 2016 annual results and will be characterized by lower volumes of work and pressure on utilization rates and margins in the coming period. In view of the favorable development of the order book at Dredging & Inland Infra a large part of the fleet will be utilized in 2017, albeit at lower margins than in previous years. When taking on new work the emphasis remains on maintaining utilization rates while assuming responsible project risks. At Offshore Energy the outlook remains unchanged. The completion of long-term contracts from previous years means increased dependence on the spot market (services), where the pressure on margins in the services part of the market continues to be considerable. All Towage operations were transferred to joint ventures at the start of 2016. Market volumes have been relatively stable although here too profitability has been lower compared to previous years. To respond to these market developments Boskalis launched a fleet rationalization and cost reduction program last year. A large part of the fleet rationalization program was already carried out in 2016 in addition to impairment charges related to part of the offshore fleet and associated goodwill. The final part of the cost reduction program is aimed at lowering costs at head office. The conclusions of the study will be announced soon. The project-based nature of a significant part of our activities, in addition to the uncertain market conditions, makes it difficult to give a specific quantitative forecast with regard to the 2017 full-year result early on in the year. It is, however, clear that the net result will be lower than the result for 2016 adjusted for impairment charges. Boskalis' financial position remains strong; the balance sheet is now net debt-free and the financial covenants agreed with the debt providers are comfortably met. Capital expenditure is expected to total around EUR 250 million in 2017, excluding possible acquisitions. This amount will be financed from the company's own cash flow. This Boskalis press release has been disseminated in accordance with article 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail. Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world with services including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the oil and gas sector and offshore wind industry as well as salvage solutions (SMIT Salvage). Furthermore, Boskalis has a number of strategic partnerships in harbour towage and terminal services (KOTUG SMIT Towage, Keppel Smit Towage, Saam Smit Towage and Smit Lamnalco). With a versatile fleet of more than 900 vessels and floating equipment and 11,700 employees, including associated companies, Boskalis operates in over 90 countries across six continents. This press release can also be found on our website www.boskalis.com.


HOUSTON, May 09, 2017 (GLOBE NEWSWIRE) -- McDermott International, Inc. (NYSE:MDR) announced today that Ty Lawrence has been appointed Vice President, Treasurer and Investor Relations, replacing Kathy Murray who has been appointed Vice President of Finance for Project Execution and Delivery. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/90ba574b-e695-4191-adfe-0d1719d01e08 “These moves ensure McDermott continues to build the strength of our leadership team by expanding their breadth and depth of experience,” said Stuart Spence, Executive Vice President and Chief Financial Officer for McDermott. “These moves provide both Ty and Kathy new experiences and opportunities to broaden their understanding of McDermott’s vast business and position them for continued success within our company.” Prior to this appointment, Ty Lawrence was Senior Director of Finance for McDermott’s Americas, Europe and Africa Area (AEA). He joined McDermott in 2013 and has previously held the roles of Subsea Finance Director and Senior Finance Director for Commercial and Project Support. Ty is a trained chartered accountant with over 20 years of experience working for various listed and private equity companies across a variety of industry sectors mainly in London, in roles of increasing responsibility. “I look forward to working with the investment and financial communities to strategically broaden McDermott’s investor base and highlight the tremendous value McDermott brings as the engineering, procurement, construction and installation leader in the offshore and subsea market,” said Ty Lawrence. McDermott is a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments worldwide. The Company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons. Our customers include national and major energy companies. Operating in approximately 20 countries across the world, our locally focused and globally integrated resources include approximately 13,500 employees, a diversified fleet of specialty marine construction vessels, fabrication facilities and engineering offices. We are renowned for our extensive knowledge and experience, technological advancements, performance records, superior safety and commitment to deliver.  McDermott has served the energy industry since 1923. As used in this press release, McDermott includes McDermott International, Inc. and its subsidiaries and affiliates. To learn more, please visit our website at www.mcdermott.com.


News Article | May 9, 2017
Site: globenewswire.com

SUNNYVALE, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- Infinera, a provider of Intelligent Transport Networks, announced a successful subsea field test with Canalink across its subsea cable. The test, conducted with the Infinera Infinite Capacity Engine (ICE4) and featuring Infinera's fourth-generation photonic integrated circuit (PIC), demonstrated the capability to upgrade the cable capacity 13-fold. Canalink, a wholly-owned subsidiary of the ITER group, owns a system of undersea fiber optic cables that link the Canary Islands with the Iberian Peninsula and the western coast of Africa. Canalink also has exchange agreements with other operators, and participates in undersea cable consortia aiming to connect Europe with Africa, transforming Tenerife, and the D-Alix datacenter specifically, into a node for the massive exchange of neutral data traffic. The test was conducted on Canalink’s 1,393 kilometer subsea cable, linking the Conil landing point on the Spanish mainland with Tenerife in the Canary Islands. Conducted across three fully-loaded channel plans at 37.5 gigahertz (GHz), 50 GHz and 25 GHz channel spacing, the test validated advanced compensation techniques and new modulation schemes including: “The successful field test with Infinera demonstrated that we can achieve approximately 13 times more capacity than we initially estimated on our subsea link,” said Carlos Suárez, General Director of Canalink. “Infinera's Infinite Capacity Engine and its innovative technology designed for subsea operators prove that its deployment can enable us to protect our investment and maximize the use of our infrastructure.” “Infinera is committed to bringing advanced capabilities to the subsea market, and we are pleased to enable Canalink to maximize capacity on their systems,” said Scott Jackson, Infinera Vice President, Subsea Business Group. “This test validates the benefits of ICE4 Nyquist subcarriers and SD-FEC gain sharing, enabling subsea cables to move to higher modulation formats for increased fiber capacity and greater return on the asset.” Infinera introduced the Infinite Capacity Engine-based subsea platforms, including the XTS‑3300 and XTS‑3600 meshponders, and upgraded its DTN-X XTC Series to 12 terabits per second (Tb/s) earlier this year. The new platforms feature Infinera’s Advanced Coherent Toolkit (ACT), which delivers innovations including Nyquist subcarriers, SD-FEC gain sharing, and matrix-enhanced phase-shift keying (ME-PSK). About Infinera Infinera (NASDAQ:INFN) provides Intelligent Transport Networks, enabling carriers, cloud operators, governments and enterprises to scale network bandwidth, accelerate service innovation and automate optical network operations. Infinera’s end-to-end packet-optical portfolio is designed for long-haul, subsea, data center interconnect and metro applications. Infinera’s unique large scale photonic integrated circuits enable innovative optical networking solutions for the most demanding networks. To learn more about Infinera visit www.infinera.com, follow us on Twitter @Infinera and read our latest blog posts at www.infinera.com/blog. Infinera and the Infinera logo are registered trademarks of Infinera Corporation. This press release contains forward-looking statements including, but not limited to the potential operational, technical and economic benefits of deploying Infinera products and solutions on subsea networks. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera’s business, is contained in the risk factors section and other sections of Infinera’s Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC on February 23, 2017, as well subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.

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