The MV Greenpeace (formerly (1959–1977) and since 2002 known as the Elbe ) was a Greenpeace ship built in 1959 as an oceangoing tug/salvage vessel. She was purchased by Greenpeace in 1985 from the Maryland Pilotage Company, the vessel then being named MV Maryland , and transferred back to the Netherlands to be refitted with modern equipment before being recommissioned. She took over from the first Rainbow Warrior , which had been sunk in 1985 by French commandos. In 2001 she was replaced by the MV Esperanza .
40-495: On 14 October 1958 J. & K. Smit launched the sea-going tug as Elbe for Smit International . During her 15 years of service with Greenpeace, the MV or Black Pig as she was known by her crew, circumnavigated the globe several times, participating in numerous campaigns. Her first deployment was as part of the "World Park Antarctica" campaign but following the sinking of the Warrior, she
80-651: A 15% stake in the group. The rights issue was concluded in late May 2020, with ASGC becoming Costain's biggest shareholder. In September 2024, ASGC sold its shareholding in Costain to institutional investors for £38m. In March 2023, Costain announced - after three consecutive years of pre-tax losses - that its results for 2022 showed a pre-tax profit of £34.2m on revenue up 25% at £1,421m (2021: £1,135m). Costain's activities are organised into two operating divisions: Natural Resources (water, nuclear process and oil & gas) and Infrastructure (highways, rail and power). Costain
120-508: A construction boom in the Middle East ; profits increased from little more than £1m per year to £47m within a decade. During the 1980s, Costain invested its resources into coal mining, international housing and commercial property; however, both the housing and property markets, and thus the business, were heavily impacted by the early 1990s recession , which led to sell-offs and cutbacks, especially housebuilding, which reoriented Costain towards
160-413: A court ruling increasing Costain's liabilities on a Welsh road project caused the firm to cut its full year profit forecasts; its share price fell 19% in early trading. On 11 March 2020, Costain announced a £100m rights issue, aiming to strengthen its balance sheet after it suffered a £6.6m pre tax loss on revenues of £1.16 billion in 2019; the news sent Costain shares down 34%, with the plunge continuing
200-524: A deal with Smit International Scotland for the delivery of vessels for safety and training purposes to the Ministry of Defence . One year later, the company, along with Donjon Marine Co., was awarded a contract to provide salvage services for the United States Navy across the majority of the western hemisphere. The company consist of four divisions, in order of revenue: For larger (salvaging) projects
240-517: A dramatic low point in April 1995, the demise of Costain was incorrectly predicted by numerous British broadsheets . It was claimed that the company could not be expected to survive as an operating company by the end of the century. In 1995, Alan Lovell was appointed chief executive of Costain; the actions taken during his two year tenure, which included the sale of the company's property interests in London and
280-603: A fleet of 408 ships. Smit International has undertaken the salvage of various vessels, including the Costa Concordia , Full City , FSO Safer , MOL Comfort and the Kursk . In 2010, it was acquired by Boskalis and delisted from the Euronext Amsterdam . The company dates back to the early 1840s and the undertakings of Fop Smit, who operated the paddle steamer Kinderdijk to safely guided various other vessels into
320-592: A move that was condemned as a "PR stunt" by the GMB union , and described by the Scottish Affairs Select Committee as "an act of bad faith". In December 2017, trade union Unite announced it had issued High Court proceedings against twelve major contractors, including Costain. In April 2019, Costain was suspended from the UK Government's Prompt Payment Code , for failing to pay suppliers on time. It
360-473: A potential environmental disaster. The firm has undertaken several notable recovery operations. In the aftermath of the Kursk submarine disaster , Smit International teamed up with the Dutch business Mammoet to recover the lost nuclear submarine . It also performed the salvage of the sunk cargo ship MOL Comfort . On 15 September 2008, Boskalis made a €1.11 billion takeover offer for Smit. Despite
400-649: A regional office in Singapore . In the following years, it secured work in the provision of salvage and other marine services in the Port of Singapore and the surrounding region. By 2000, the firm's Singapore operation employed in excess of 700 and was roughly valued at $ 200 million, providing salvage, ocean, port and coastal towage, pipeline installation, horizontal directional drilling and offshore support. During August 1996, Costain Group 's Merseyside based Land & Marine business
440-520: A subject of controversy. It used to be a subscriber to the United Kingdom's Consulting Association , which was an illegal construction industry blacklist ; legal action was taken against the company in this matter during the 2010s. In 2019, Costain was suspended from the UK Government's Prompt Payment Code after failing to pay suppliers on time. The business was founded in 1865 when Richard Costain and his future brother-in-law, Richard Kneen, left
SECTION 10
#1733085884056480-470: Is a British construction and engineering company headquartered in Maidenhead , England. It was established by Richard Costain and Richard Kneen in 1865, initially operating as builders in and around Lancashire . During the early 20th century, Costain expanded geographically, its main activities comprising housebuilding and mining. A separate London-based company was formed in 1923 by the Costain family and
520-541: Is also involved in HS2 lots S1 and S2, working as part of joint venture, due to complete in 2031. Costain was revealed as a subscriber to the United Kingdom's Consulting Association , exposed in 2009 for operating an illegal construction industry blacklist . Subsequently, it was also one of the eight businesses that were involved in the launch in 2013 of the Construction Workers Compensation Scheme ,
560-559: The Croydon area were developed in the middle of the 1920s. In 1929, William died: the other two brothers remained in Liverpool and William’s son, Richard Rylandes Costain, was sent to run the London company. Under him, Richard Costain & Sons expanded its housing building large estates all around London, the largest being a site for 7,500 homes in South Hornchurch , started in 1934. Perhaps
600-570: The Isle of Man and moved to Liverpool as jobbing builders. Their partnership lasted until 1888, at which point Richard Kneen left and Richard Costain's three sons (Richard, William and John) joined him. Costain gradually expanded through Lancashire ; by the outbreak of the First World War , it was building its presence in South Wales, where it built numerous houses for munitions workers. Following
640-438: The Port of Rotterdam . Founded in 1842 under the name L. Smit & Co., it initially focused on towing. Fop's sons, Jan and Leendert, took on management of the company and soon opted to expand its fleet. During 1870, L. Smit & Co. started using tugs with propellers . The business slowly branched into new activities; one such early venture was shipbuilding . During the mid 1900s, it started providing salvage services for
680-445: The Port of Rotterdam . Within its first decades, it branched into shipbuilding and, just after the start of the twentieth century, salvage services. The firm developed an international presence, such as its Singapore -based subsidiary in 1975, and its acquisition of Costain Group 's Land & Marine business in 1996. By 2009, inclusive of its subsidiaries and the joint ventures with controlling stakes, Smit International operated
720-558: The First World War, Costain began to develop housing estates in Liverpool on its own account, primarily to offer continuity of employment to its workforce. With housing sites in Liverpool in short supply, Richard Costain sent his son William down to London to find new sites. He purchased the Walton Heath Land Company, and in 1923, the separate business of Richard Costain & Sons was formed. Several executive estates in
760-786: The US testing of Trident missiles in 1989, the Greenpeace was rammed by the US Navy vessel, the USS Kittiwake (ASR-13) multiple times. In late 1993 crew aboard the ship exposed Russian ships dumping 900 tonnes of liquid radioactive waste into the Sea of Japan . Protests against the resumption of French nuclear testing in French Polynesia followed in 1995. During this time the vessel was boarded and detained by French police in international waters. The Greenpeace
800-541: The acceptance of a £73m refinancing arrangement that gave the Malaysian building group Intria a 40 percent stake in the business, have been credited with having saved Costain. On two occasions in 1996, the company had its shares suspended . During 1999, Brewer Gold Mine, an American subsidiary of Costain, abandoned a gold mine in South Carolina , which had been closed, and ceased performing its remediation duties. In
840-482: The beginning of the 1970s. The substantially increased revenues that accrued to the oil producing states led to a construction boom in the Middle East during the 1970s. Costain was a major beneficiary, particularly in the Emirates , and within a decade profits increased from little more than £1m a year to £47m. In the 1960s, A. P. Costain became chairman, with Sir Robert Taylor as chief executive. During 1985, Costain
SECTION 20
#1733085884056880-571: The best known development of all was Dolphin Square , which was completed in 1937. During 1933, Richard Costain (the London-based business) was floated on the London Stock Exchange ; the Liverpool business was not part of the flotation. By then, Costain had completed over 4,000 houses in the London area, some at prices up to £4,000. Costain continued to expand its private housebuilding and it
920-456: The company often uses joint-ventures or combinations. An example of this is Combinatie Berging Tricolor (Dutch for Combination Salvaging Tricolor ) which was created solely for the lifting of the MV ; Tricolor . A similar multi-firm arrangement was made for the 2013-2014 salvage of the Costa Concordia passenger cruise ship. As of 1 March 2009, Smit, theough its subsidiary companies and
960-700: The company was on Heath Drive in Tadworth in Surrey, when Arthur Costain was the chairman. Throughout the Second World War , Costain undertook extensive military work, including the construction of Royal Ordnance Factories and airfields. One particular highlight of its wartime activities was serving as one of the contractors who built the Mulberry harbour units. Sir Richard Rylandes Costain CBE (20 November 1902 - 26 March 1966)
1000-673: The construction sector. Despite the company's fiscal difficulties, it (as part of the TransManche Link consortium) completed construction of the Channel Tunnel , which was at the time the most expensive construction project ever proposed at a final cost amounted to £9 billion (equivalent to £22.6 billion in 2023). Into the 21st century, it has worked on numerous complex civil engineering and commercial construction projects and has been involved in various Private Finance Initiative (PFI) schemes. Costain's operations have occasionally been
1040-584: The early years of the 21st century, Costain worked on the Channel Tunnel Rail Link , which included the modernisation of London St Pancras station to accept Eurostar trains, and on the Thameslink , and Crossrail projects in central London; on Crossrail, Costain's contracts included the Paddington and Bond Street stations (both with Skanska ), and the north east network upgrade. In 2010, Costain
1080-548: The end of the 1980s led to high gearing just as international markets were turning down; this circumstance was exacerbated by a disastrous explosion which killed ten people in 1989 at a Costain owned coal mine in the United States, for which the firm was fined $ 3.75m in February 1993. As a consequence of the early 1990s recession , the company incurred substantial losses that not only rapidly depleted its reserves but also compelled
1120-465: The first time. Throughout the twentieth century, Smit International developed into internationally-operating outfit offering a wide range of maritime services. Following the business' merger with Internationale Sleepdienst in 1923, the firm's name was changed to "L. Smit & Co.'s Internationale Sleepdienst". During 1975, Smit International decided to expand into the Far East via the establishment of
1160-545: The following day, dropping below £1 to 88p. The company was also affected by the COVID-19 pandemic shutdown with major projects (amounting to a third of operating revenue) suspended. As a result, the board and senior leadership team agreed a 30% reduction in salaries and fees for up to three months, while also making other short term economies. Two months later, Dubai -based contractor ASGC Construction stated that it planned to invest £25m in Costain's £100m rights issue, giving it
1200-515: The joint ventures that it controls, had a fleet of 408 ships. Its marine salvage division was involved in several high-profile salvage operations, including: They have also partnered with the French firm JLMD System to support preinstalled fast oil recovery systems, which assure quick reliable oil removal in the event of a shipping accident. Costain Group Costain Group plc
1240-684: The offer being rejected by Smit's board, Boskalis subsequently built a stake of over 25% in Smit and expressed a continuing desire to buy a number of its business units. A revised offer from Boskalis of €1.35 billion, coupled with a pledge to retain the Smit name and its distinct operations, was accepted by the board in January 2010, with Boskalis declaring its offer unconditional that March having increased its shareholding to 90%. Smit's shares were delisted from Euronext Amsterdam on 4 May 2010. In February 2018, Britain's Defence Equipment and Support agency signed
MV Greenpeace - Misplaced Pages Continue
1280-452: The sale of several key assets along with various cutbacks, particularly in its underperforming housebuilding division, that left Costain as a predominantly construction-oriented business. More fiscal strain came in the form of a combined charge of £160m that was incurred by a pair of rights issues that arose in 1991 and 1993. Nevertheless, some sectors, such as coal mining, continued to provide reliable work for Costain at this time. During
1320-512: Was floated on the London Stock Exchange ten years later. Shortly thereafter, Costain moved into civil engineering activities, such as its work on the Trans-Iranian Railway . During the Second World War , Costain helped build several Royal Ordnance Factories , airfields, and worked on the Mulberry harbour units. By the start of the 1970s, Costain was building around 1,000 houses per year. During this decade, it benefitted greatly from
1360-467: Was chairman in the 1950s, the grandson of the founder. In the immediate post-war years, only small estate development was undertaken by the firm; it was not until the acquisition of Nottingham -based Rostance Group in 1962 that private housebuilding resumed on any scale. Further bolstered by the acquisition of the Blackpool firm R Fielding in 1969, Costain was building around 1,000 houses per year by
1400-510: Was described as "one of the largest speculative housebuilders and estate developers in this country before the war." Following the flotation, Costain moved into civil engineering. One such early undertaking in this area was on the Trans-Iranian Railway and then at Abadan, Iran for BP . Losses on the railway, on Beckton sewage works and the costs of Dolphin Square caused financial problems, and Costain had to look for alternative funds when Barclays withdrew its overdraft facilities. By 1939
1440-682: Was diverted en route from Europe to New Zealand via the Panama canal, to first participate as part of a peace convoy protesting against French Nuclear Testing at Moruroa Atoll , before continuing to carry on with the Antarctica campaign as planned. The next decade and a half saw her involved in Greenpeace campaigns around the world, from the Persian Gulf to the Antarctic. Whilst participating in protests against
1480-593: Was named Contractor of the Decade by New Civil Engineer . While led by Andrew Wyllie , the company's CEO from September 2005 to May 2019, Costain invested in technology and consultancy staff, which in March 2018 comprised a third (1,300) of the company's then 4,000 employees. Alex Vaughan succeeded Wyllie as CEO. During June 2019, a gloomy trading update following several delayed and cancelled projects contributed to Costain's share value declining over 35%. In December 2019,
1520-481: Was part of the TransManche Link consortium that constructed the Channel Tunnel , which was at the time the most expensive construction project ever proposed, the final cost amounted to £9 billion (equivalent to £22.6 billion in 2023). During the 1980s, recognising that exceptional Middle East profits could not continue, Costain sought to redeploy its extensive cash balances into coal mining, international housing and commercial property. However, over expansion in
1560-456: Was purchased for £11.3 million. On 29 March 2007, the firm purchased Adsteam’s Liverpool -based towage operation. Smit International has been involved in the removal of hazardous substances, such as bunker fuel, from wrecks. The company was involved in the containment and removal of fuel oil from the wrecked cruiseliner Costa Concordia , the bulk hauler Full City , and the oil storage vessel FSO Safer in actions that prevented
1600-621: Was replaced in 2001 by the MV Esperanza . She has since been reconverted to her original form as the Elbe and is now a museum ship in Maassluis. 51°55′00″N 4°14′49″E / 51.916617°N 4.246980°E / 51.916617; 4.246980 Smit International Smit Internationale N.V. (or Smit International ) is a Dutch company operating in the maritime sector. Founded in 1842 by Fop Smit , it provided towing services in
#55944