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Displaying items by tag: Secured facility

InsiderMedia reports that Harland & Wolff Group Holdings has secured a "milestone" $70m (£53.3m) green corporate debt facility to help drive forward its growth plans.

The listed business, which is focused on strategic infrastructure projects and physical asset lifecycle management, has entered into a group-wide facility with affiliates of Riverstone Credit Partners (RCP), a dedicated credit investment platform managed by Riverstone Holdings.

Riverstone is focused on organisations engaged in building infrastructure and providing infrastructure services to generate, transport, store and distribute both renewable and conventional sources of energy, as well as entities engaged in the energy transition from fossil-based, to a zero-carbon economy.

The facility will be used to support growth in the business and supplement Harland & Wolff Group's working capital requirements.

More on this development here.

Published in Shipyards
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Shipyards

Afloat will be focusing on news and developments of shipyards with newbuilds taking shape on either slipways and building halls.

The common practice of shipbuilding using modular construction, requires several yards make specific block sections that are towed to a single designated yard and joined together to complete the ship before been launched or floated out.

In addition, outfitting quays is where internal work on electrical and passenger facilities is installed (or upgraded if the ship is already in service). This work may involve newbuilds towed to another specialist yard, before the newbuild is completed as a new ship or of the same class, designed from the shipyard 'in-house' or from a naval architect consultancy. Shipyards also carry out repair and maintenance, overhaul, refit, survey, and conversion, for example, the addition or removal of cabins within a superstructure. All this requires ships to enter graving /dry-docks or floating drydocks, to enable access to the entire vessel out of the water.

Asides from shipbuilding, marine engineering projects such as offshore installations take place and others have diversified in the construction of offshore renewable projects, from wind-turbines and related tower structures. When ships are decommissioned and need to be disposed of, some yards have recycling facilities to segregate materials, though other vessels are run ashore, i.e. 'beached' and broken up there on site. The scrapped metal can be sold and made into other items.