Energy services firms Saipem and Subsea7 have reached an agreement on the key terms for possible merger of the two companies under one unit to be named Saipem7, whose combined backlog would be over $45 billion.Saipem and Subsea7 shareholders will own 50% each of the share capital of the combined company, whose revenue is expected to be around $20.
Italian state-controlled shipbuilding giant Fincantieri announced public finance expert Biagio Mazzotta has been appointed as chairman of its board of directors. The move follows the untimely death of General Claudio Graziano, who had been appointed in May 2022.Mazzotta's appointment comes at the recommendation of shareholder CDP Equity S.p.A.
Long-term initiatives led by classification societies are building the foundation for future fuels uptake.About this time last year, ABS CEO Chris Wiernicki said: “When you look at where we are and the steepness of the curve ahead, the biggest risk is the unintended safety consequences of change.