ARAB PETROLEUM PIPELINES CO. (SUMED)

The Equinor (OSE: EQNR, NYSE: EQNR) Board of Directors appointed Anders Opedal as its new president and CEO starting November 2, 2020. Eldar Sætre will retire after six years as CEO and more than 40 years in the company.Opedal ascends to the top spot coming from the position as Executive Vice President Technology, Projects and Drilling. He joined Equinor as a petroleum engineer in 1997, spent many years in Drilling and Well and served as Chief Procurement Officer. In 2011, he was chosen to lead Equinor’s approximately NOK 300 billion project portfolio.

BAE Systems received a $83.5 million contract from the U.S. Navy to modernize the guided-missile destroyers USS Carney (DDG 64) and USS Winston S Churchill (DDG 81). The modernization work will be performed sequentially by the company’s shipyard in Jacksonville, Florida. The contract include options that, if exercised, would bring the cumulative value to $211.6 million.The USS Carney will be first in the shipyard, arriving in September 2020. The 23-year-old ship just returned from a six year operational period in Rota, Spain and will undergo extensive repair and upgrade work that will take more than 400 days to complete.

Fincantieri Bay Shipbuilding (FBS) says it will upgrade its shipyard equipment and facilities this year as it prepares to assist with work on the Navy’s new guided-missile frigate FFG(X) program.FBS is partnering with its sister shipyard Fincantieri Marinette Marine, who was awarded the $795 million contract for the Navy’s first-in-class frigate April 30, 2020. Building a quality ship in Wisconsin will afford the Navy the opportunity to exercise options on the original contract for nine additional ships and services valued at $5.5 billion. The detailed design work of the first vessel began in May and the start of fabrication is planned for 2021.

General Dynamics announced today that the negotiating teams from Bath Iron Works and the International Association of Machinists and Aerospace Workers (IAM) Local S6 reached agreement last night on mutually acceptable terms to end the ongoing strike by shipyard workers in Bath, Maine. Federal Mediation and Conciliation Service deputy director Rich Giacolone and IAM International President Robert Martinez helped to facilitate the tentative agreement.“We are pleased to have reached agreement with our union partners and look forward to getting back to the job of building ships for the U.S. Navy,” said Phebe Novakovic, chairman and chief executive officer.

In business, as in life, after major anniversary milestones like 60 (Diamond) and 75 (Diamond or Sapphire), it seems that every year after that is worth celebrating. However, 90 years is somewhat in the nether regions of celebrations; certainly, a major achievement after say 75, but not quite the centenary either. However, Robert Allan Ltd. has been an active and growing business now for 90 years and we believe that is worth celebrating in a time when it feels, frankly, that there is not a great deal to celebrate.The family lore has always been that my grandfather, Robert Allan, started his independent career as a consulting naval architect in 1930.