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Shearwater GeoServices signs $437M debt refinancing

Shearwater GeoServices has signed new debt and guarantee facilities totalling $437 million, as part of the planned refinancing of the company’s maturing debt. Andreas Hveding Aubert, CFO of Shearwater (Courtesy of Shearwater GeoServices) The new facilities include the refinancing of the $325 million bridge facility originating from the acquisition of the marine seismic acquisition assets …

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Polarcus lands 4D project in Far East

Marine seismic player Polarcus has signed a memorandum of agreement with SCF GEO, a company in the Sovcomflot group, to provide 4D marine seismic acquisition services in the Far East. Polarcus ICE-1A class vessel (Courtesy of Polarcus) The work will be performed for an exploration and production (E&P) company, whose name was not disclosed. The program …

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Landmark ILO ruling says govts failed to protect seafarers’ rights under international law

The International Labour Organisation’s (ILO) Committee of Experts issued a ruling that governments have failed in their duty of care towards seafarers under international law during the COVID-19 pandemic. In the first ruling of its kind, the committee of 20 jurists found that governments failed abjectly to protect the minimum of seafarers’ rights, as set …

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Carnegie rolls in refund cash

Carnegie Clean Energy has received a Research and Development Tax Incentive cash rebate from the Australian Tax Office of over Au$660,000 (€410,000). Carnegie’s CETO 6 wave energy technology concept (Courtesy of Carnegie Clean Energy) The current available cash position of the company is approximately Au$3.4 million (€2.1 million), according to Carnegie Clean Energy. The Research …

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