TRENTON, N.J. – An Ocean County, New Jersey, man was sentenced today to 240 months (20-years) in prison for his conviction on drug and weapon charges, U.S. Attorney Philip R. Sellinger announced.
Dyshawn Moss, 42, of Manchester, New Jersey, was convicted on Oct. 27, 2022, following a four-day trial before U.S. District Judge Michael A. Shipp on five charges: possession with intent to distribute fentanyl, possession with intent to distribute heroin, possession with intent to distribute cocaine, possession of a firearm by a convicted felon, and possession of a firearm in furtherance of a drug trafficking crime. Judge Shipp imposed the sentence today in Trenton federal court.
According to documents in this case and evidence at trial:
On May 24, 2019, law enforcement agents went to arrest Moss outside of his apartment building in Manchester, New Jersey. Inside his apartment, Moss possessed over 1,000 grams of fentanyl, over 1,300 grams of heroin, and over 2,600 grams of cocaine; drug-packaging materials; over $150,000 in cash; and a 9mm Taurus handgun loaded with 10 rounds of ammunition.
In addition to the prison term, Judge Shipp sentenced Moss to 10 years of supervised release.
U.S. Attorney Sellinger credited members of the U.S. Drug Enforcement Administration, under the direction of Special Agent in Charge Cheryl Ortiz; and the Monmouth County Prosecutor’s Office, under the direction of Prosecutor Raymond S. Santiago, with the investigation leading to the conviction.
The government is represented by Assistant U.S. Attorneys Vera Varshavsky and Olta Bejleri of the Criminal Division in Newark.
23-347
Defense Counsel: Mark Davis Esq., Hamilton, New Jersey
“failed to turn over proceeds from the collection of tax, water, and sewer payments totaling in excess of $10,000, and utilized the monies for her own personal benefit.”
November 21, 2023
TUCKERTON BOROUGH, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer announced that on November 20, 2023, Jennifer Docherty, 46, of West Creek, was charged with Theft by Failure to Make Required Disposition in connection with her position as Utilities Collector for the Borough of Tuckerton.
An investigation by the Ocean County Prosecutor’s Office Professional Standards/Corruption Unit, Ocean County Prosecutor’s Office Economic Crime Squad, and Borough of Tuckerton Police Department, revealed that between June 2018 and June 2023, Docherty – in her capacity as Utilities Collector for the Borough of Tuckerton – failed to turn over proceeds from the collection of tax, water, and sewer payments totaling in excess of $10,000, and utilized the monies for her own personal benefit.
On November 20, 2023, Docherty surrendered herself to the Ocean County Prosecutor’s Office in the presence of her attorney. She was processed and served with the charge via summons pending an upcoming first appearance in Ocean County Superior Court. Docherty has been placed on administrative leave by the Borough of Tuckerton during the pendency of this investigation.
“I would encourage residents of the Borough of Tuckerton who have any information pertaining to this investigation to contact Detective John Halliday of the Ocean County Prosecutor’s Office at 732-929-2027, extension 3533, or Detective David Order of the Tuckerton Police Department at 609-296-9417,” Prosecutor Billhimer stated.
Prosecutor Billhimer commends the Ocean County Prosecutor’s Office Professional Standards/Corruption Unit, Ocean County Prosecutor’s Office Economic Crime Squad, Tuckerton Township Police Department, and Ocean County Sheriff’s Office, for their collaborative efforts in connection with this investigation.
The charges referenced above are merely accusations and the press and public are reminded that all defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
LAKEWOOD, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer and Lakewood Township Police Chief Gregory Meyer announced that on November 19, 2023, at approximately 7:45 a.m., Officers from the Lakewood Township Police Department were dispatched to the area of 4th Avenue and Forest Avenue, for a report of a suspicious item attached to a utility pole. The New Jersey State Police Bomb Disposal Unit were notified and secured the device.
“The device was found to be inert and nonexplosive. There is no danger to the public and this remains an active and ongoing investigation,” Prosecutor Billhimer stated.
“Anyone with information regarding this investigation should contact Officer Alex Guzman of the Lakewood Township Police Department at 732-363-0200, extension 5341 or Sergeant David Petracca of the Ocean County Prosecutor’s Office at 732-929-2027, extension 2186,” Prosecutor Billhimer concluded.
MANCHESTER, NJ (OCEAN)–Police say that on Thursday, November 16, 2023, at approximately 6:00 p.m., officers from the Manchester Township Police Department responded to the area of 2011 Route 37 for the report of a car verse bicyclist. Upon arrival, officers observed a white 2021 Dodge Ram Cargo Van with damage to the front passenger side and extensive damage to the front windshield. Officer’s also observed a male lying on the grass area in front of the plaza and a black electric bike with extensive damage. The driver of the Dodge Ram Cargo Van was identified as, 34-year-old Jack Ravenna of Greenville, South Carolina. Mr. Ravenna did not sustain any injuries as a result of the crash. The rider of the electric bike was identified as, 46-year-old Raymond Santory of Manchester, NJ. Mr. Santory sustained trauma to his right leg and several lacerations to his head and face. Mr. Santory was flown via MEDAVAC, to Jersey Shore University Hospital Trauma Center, in Neptune, NJ to be further elevated for his injuries.
The crash investigation revealed that the Dodge Ram Cargo Van was traveling west on State Highway 37 in the right travel lane. The Dodge Ram Cargo Van traveling west on State Highway 37 was approaching the entrance to 2011 Route 37 and began to make a right turn into the entrance. Mr. Santory was traveling east in the westbound shoulder of State Highway 37 on his electric bike wearing dark clothing and no helmet. Mr. Santory impacted the Dodge Ram Cargo Van on the front passenger side of the vehicle. Mr. Santory was ejected from his bicycle and then impacted the windshield of the vehicle on the passenger side. After initial impact with the Dodge Ram Cargo Van, Mr. Santory and his electric bicycle continued to travel east approximately 10 feet before coming to final rest on the grass section of the plaza.
Assisting at the scene were EMT’s from the Manchester Township Division of Emergency Medical Services, and Paramedics from Robert Wood Johnson University Hospital. The investigation into the crash is still ongoing, but at this point, the failure to ride a bicycle with the flow of traffic and the use of dark clothing are the primary contributing factors in the crash. This crash is being investigated by Patrolman Conner Yatauro of the department’s Traffic Safety Unit.
FREEHOLD – An Ocean County woman has been criminally charged with stealing nearly $200,000 from her Wall Township-based employer, Monmouth County Prosecutor Raymond S. Santiago announced Tuesday.
Jessica L. Schott, 44, of Point Pleasant is charged with second-degree Theft by Unlawful Taking, third-degree Forgery, and third-degree False Uttering.
An investigation by the MCPO Financial Crimes and Public Corruption Bureau was initiated earlier this year, following receipt of a tip by a representative with the Wall-based company that used to employ Schott.
A review of the company’s financial records revealed that Schott was responsible for making unauthorized debit-card purchases and ATM withdrawals from the company bank account, as well as collecting unauthorized additional paychecks, expense checks, and overtime, in some cases using documents featuring forged signatures. Schott allegedly used the stolen funds, approximately $195,320 in all, to cover personal expenses.
Schott was served the charges against her via summons earlier this week, pending future proceedings in Monmouth County Superior Court.
This case is being prosecuted by Assistant Prosecutor Kristen Anastos of the Financial Crimes and Public Corruption Bureau. Information about Schott’s legal representation was not immediately available.
Anyone with further information about Schott’s activities is being asked to contact MCPO Detective Michael Acquaviva at 800-533-7443.
Despite these charges, every defendant is presumed innocent, unless and until found guilty beyond a reasonable doubt, following a trial at which the defendant has all of the trial rights guaranteed by the U.S. Constitution and State law.
Howell Township — On the evening of November 11th, 2023, Howell Township patrol units responded to Longhorn Steakhouse in reference to a disorderly person inside the establishment. Restaurant staff described the male as erratic and confrontational. They were unsure if the male was under the influence of narcotics or alcohol. When patrol units arrived, the subject, 38-year-old Zachariah Hartman of Toms River, attempted to flee the scene, subsequently striking a police cruiser. Hartman then eluded police through the township which resulted in him striking two other Howell police cruisers, disabling one.
Hartman continued onward with police following through several municipalities. These towns including Lakewood Township, Jackson Township, Freehold Township, Freehold Borough, Millstone Township, Plumstead Township and Colts Neck Township. In total, the pursuit lasted over 2 hours and ranged approximately 100 miles. He was eventually apprehended in Jackson Township without incident.
No injuries were sustained as a result of the pursuit. Hartman was criminally charged with 2 counts of eluding, 2 counts of aggravated assault and 1 count of obstruction. He was transported to Monmouth County Correctional Institute where he was lodged pending his detention hearing.
FREEHOLD – A Manalapan man who recently obtained a new job as a school bus driver in Jackson Township was arrested and charged with the possession and distribution of child sexual abuse materials, Monmouth County Prosecutor Raymond S. Santiago announced on Thursday.
Brian R. McBride, 28, was arrested and charged on Wednesday October 25, 2023, with one count of second-degree Endangering the Welfare of a Child, Distribution of Child Sexual Abuse Materials and one count of third-degree Possession of Child Sexual Abuse Materials, Possession of Child Sexual Abuse Materials.
An investigation by the Monmouth County Prosecutor’s Office High-Tech Bureau and members of the Monmouth County Internet Crimes Against Children (ICAC) Task Force, initiated by a tip received through the National Center for Missing & Exploited Children, revealed that McBride was in possession of child sexual abuse materials and distributing same via social media.
Convictions of this nature are commonly punishable by terms of up to 10 years’ state prison, along with being subject to the provisions of Megan’s Law registration and Parole Supervision for Life.
The case is assigned to Monmouth County Assistant Prosecutor Joseph Competello. McBride is represented by Mitchell Ansell, Esq., with an office in Freehold.
Despite these charges, every defendant is presumed innocent, unless and until found guilty beyond a reasonable doubt, following a trial at which the defendant has all of the trial rights guaranteed by the U.S. Constitution and State law.
Plumsted Township Police Department has removed the post from their Facebook page, so the subject has possibly been identified.
PLUMSTED TOWNSHIP, NJ (OCEAN)–Plumstead Township Police posted photos of a man seen with a gun in a wooded area and are attempting to identify the subject. No reason was given why they are seeking the identification of the subject. If you know this person, contact Plumsted Township Police Department at (609) 758-7185.
Posted to Facebook:
**ATTEMPT TO IDENTIFY** If you know the subject in the attached pictures, please contact the Plumsted Township Police Department at (609) 758-7185.
Plumsted Township Police Department has removed the post from their Facebook page, so the subject has possibly been identified.
BARNEGAT TOWNSHIP, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer and Barnegat Township Police Chief Keith A. Germain announced that on November 2, 2023, Michael Mulgrew, 34, of Barnegat, was charged with two counts of Murder, Possession of a Weapon for an Unlawful Purpose, and Unlawful Possession of a Weapon, in connection with the stabbing deaths of his parents, Eugene Mulgrew, 71, and Cheryl Mulgrew, 69, both of Barnegat.
On November 2, 2023, at approximately 11:00 a.m., Officers from the Barnegat Township Police Department were summoned to a residence on Lincoln Avenue to assist medical personnel with performing a mobile outreach at the residence. As the Officers approached the residence, they observed a male walking away. Upon their arrival, Officers noticed red staining – which appeared to be blood – on the front door of the residence. The Officers made entry, and found blood in various areas of the home. As the Officers entered the bedroom, they located the deceased bodies of two victims with apparent stab wounds to their upper torsos. The victims were later identified as Eugene and Cheryl Mulgrew. The Officers also observed a knife in the vicinity of the bedroom.
The male initially observed walking away from the residence was observed in the area of West Bay Boulevard and Gunning River Road by Barnegat Township Police Officers. That individual, later identified as Michael Mulgrew, was taken into custody without incident.
An investigation conducted by the Ocean County Prosecutor’s Office Major Crime Unit, Barnegat Township Police Department Detective Bureau, and Ocean County Sheriff’s Office Crime Scene Investigation Unit, revealed that Michael Mulgrew was responsible for the murders of his mother and father. Mulgrew was charged accordingly and transported to the Ocean County Jail, where he is presently lodged pending a detention hearing.
Prosecutor Billhimer and Chief Germain acknowledge the Ocean County Prosecutor’s Office Major Crime Unit, Barnegat Township Police Department, Barnegat Township Police Department Detective Bureau, and Ocean County Sheriff’s Office Crime Scene Investigation Unit, for their collaborative efforts in connection with this investigation leading to Michael Mulgrew’s swift apprehension.
The charges referenced above are merely accusations and the press and public are reminded that all defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
LAKEWOOD, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer announced that on November 1, 2023, at approximately 4:15 p.m., Officers from the Lakewood Township Police Department were summoned to the Lakewood Housing Authority on Sampson Avenue for a report of an explosion that developed into a structure fire. Responding Officers observed a male victim, later identified as Ronald Prichard, 67, the sole occupant of the housing unit, to be suffering from serious injuries. Mr. Prichard was transported to Monmouth Medical Center, Southern Campus, in Lakewood, where he later succumbed to his injuries.
A thorough and extensive investigation by the Ocean County Prosecutor’s Office Major Crime Unit-Arson Squad, Lakewood Police Department Township Detective Bureau, Ocean County Fire Marshal’s Office, and Ocean County Sheriff’s Office Crime Scene Investigation Unit, revealed that the origin of the explosion was in the bedroom of the housing unit, and the cause of the explosion was the release of natural gas to an open flame.
Prosecutor Billhimer acknowledges the Ocean County Prosecutor’s Office Major Crime Unit-Arson Squad, Lakewood Township Police Department, Lakewood Township Police Department Detective Bureau, Ocean County Fire Marshal’s Office, and Ocean County Sheriff’s Office Crime Scene Investigation Unit, for their collective assistance in connection with this investigation.
JACKSON TOWNSHIP, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer announced that on November 1, 2023, Andrew Fantasia, 27, of Beachwood, was charged with Possession of Child Pornography and an additional count of Endangering the Welfare of a Child. Fantasia had previously been charged with Endangering the Welfare of a Child, Aggravated Criminal Sexual Contact, and Official Misconduct, on October 25, 2023.
An investigation by the Ocean County Prosecutor’s Office Special Victims Unit and Jackson Township Police Department determined that between February 2023 and June 2023, Fantasia – while employed in his official capacity as a teacher at Carl W. Goetz Middle School and club advisor at Jackson Memorial High School – had inappropriate sexual contact with a student on high school property. The investigation further revealed that Fantasia requested nude photos from the victim.
On October 25, 2023, Detectives from the Ocean County Prosecutor’s Office Special Victim’s Unit, Jackson Township Police Department and Ocean County Sheriff’s Office Crime Scene Investigation Unit, executed a court-authorized search warrant at Fantasia’s residence; as a result, Detectives seized multiple electronic devices in Fantasia’s possession. Fantasia was taken into custody and transported to the Ocean County Jail, where he is presently lodged pending a detention hearing.
A full forensic analysis of Fantasia’s electronic devices, conducted by the Ocean County Prosecutor’s Office High Tech Crime Unit, revealed nude images of the victim on Fantasia’s cellular phone. On November 1, 2023, Fantasia was served with the additional charges as noted above by way of warrant at the Ocean County Jail.
Prosecutor Billhimer acknowledges the Ocean County Prosecutor’s Office Special Victims Unit, Ocean County Prosecutor’s Office High Tech Crime Unit, Jackson Township Police Department, Jackson Township Police Department Detective Bureau, and Ocean County Sheriff’s Office Crime Scene Investigation Unit, for their collaborative efforts in connection with this investigation.
The charges referenced above are merely accusations and the press and public are reminded that all defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
BARNEGAT TOWNSHIP, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer and Barnegat Township Police Chief Keith A. Germain announced that the Ocean County Prosecutor’s Office Major Crime Unit, Barnegat Township Police Department and the Ocean County Sheriff’s Office are currently investigating a double homicide that occurred on Lincoln Avenue in Barnegat Township.
“The suspect is in custody and there is no danger to the public to the public at this time,” Prosecutor Billhimer stated. “Additional information will be released when it becomes available,” Prosecutor Billhimer concluded.
PLUMSTED TOWNSHIP, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer announced that on November 1, 2023, at approximately 10:00 a.m., a mobile home fire was reported on Lakewood Road in Plumsted Township. Upon arrival, emergency service personnel observed heavy smoke emanating from the mobile home, with a male victim outside the residence and another victim still trapped inside. The male victim, later identified as the homeowner, Paul Hakos, 79, was transported to CentraState Medical Center in Freehold for treatment of his injuries. He is listed in stable condition. Firefighters located the body of a female victim, later identified as Catherine Hakos, 63, in the back bedroom of the residence. Ms. Hakos was pronounced deceased at the scene.
A thorough and extensive investigation by the Ocean County Prosecutor’s Office-Arson Squad, Ocean County Fire Marshal’s Office, Plumsted Township Police Department Detective Bureau, Plumsted Township Fire Marshal’s Office, and Ocean County Sheriff’s Office Crime Scene Investigation Unit, has revealed that the fire originated underneath the structure, and that a failure of energized electrical equipment could not be eliminated as the cause. The cause of the fire has been ruled accidental.
Prosecutor Billhimer acknowledges the Ocean County Prosecutor’s Office-Arson Squad, Ocean County Fire Marshal’s Office, Plumsted Township Police Department Detective Bureau, Plumsted Township Fire Marshal’s Office, and Ocean County Sheriff’s Office Crime Scene Investigation Unit, for their combined and cooperative assistance in connection with this investigation.
Congressman Jeff Van Drew stated “I am thrilled to see that Orsted has decided to pack up its offshore wind scam and leave South Jersey’s beautiful coasts alone. A tremendous win for South Jersey residents, our fisherman, and the historic coastline of the Jersey shore.”
October 31, 2023
In a press release today from Ørsted, the Board of Directors has decided to cease the development of U.S. Offshore Projects, Ocean Wind 1 and Ocean Wind 2. Govenor Phil Murphy called today’s decision by Orsted to abandon its commitments to New Jersey outrageous and calls into question the company’s credibility and competence. (see full statement below)
“Due to adverse impacts relating to supply chain delays, increased interest rates, and the lack of an OREC adjustment on Sunrise Wind, we have recognized impairment losses of DKK 28.4 billion in 9M 2023. The majority of these (DKK 19.9 billion) relates to our US offshore project Ocean Wind 1.
Net profit amounted to DKK -19.9 billion, and return on capital employed (ROCE) came in at -14 %. Net profit and ROCE excluding impairment losses amounted to DKK 8.5 billion and 13 %, respectively.
Our previously guided EBITDA for 2023, excluding new partnership agreements, of DKK 20-23 billion remains unchanged, when excluding a provision of approximately DKK 8-11 billion related to potential cancellation fees following our decision to cease the development of Ocean Wind 1. Due to a later timing across our project portfolio and the termination of investments on Ocean Wind 1, our gross investment for 2023 is now expected to amount to DKK 40-44 billion, a reduction of DKK 4 billion.“
“Therefore, as part of our ongoing review of our US offshore wind portfolio, we’ve decided to cease the development of Ocean Wind 1 and Ocean Wind 2. At the same time, we’ve taken final investment decision on the 704 MW Revolution Wind project, progressing it to the construction phase with an attractive forward-looking value creation.“
Congressman Jeff Van Drew stated “I am thrilled to see that Orsted has decided to pack up its offshore wind scam and leave South Jersey’s beautiful coasts alone. A tremendous win for South Jersey residents, our fisherman, and the historic coastline of the Jersey shore.”
I am thrilled to see that Orsted has decided to pack up its offshore wind scam and leave South Jersey's beautiful coasts alone.
A tremendous win for South Jersey residents, our fisherman, and the historic coastline of the Jersey shore. https://t.co/k36MY8EOfM
New Jersey Govenor Phil Murphy released the following statement about Ørsted’s decision:
“Today’s decision by Orsted to abandon its commitments to New Jersey is outrageous and calls into question the company’s credibility and competence. As recently as several weeks ago, the company made public statements regarding the viability and progress of the Ocean Wind 1 project. In recognition of the challenges inherent in large and complex projects, my Administration in partnership with legislative leadership insisted upon important protections that ensure New Jersey will receive $300 million to support the offshore wind sector should Orsted’s New Jersey projects fail to proceed. I have directed my Administration to review all legal rights and remedies and to take all necessary steps to ensure that Orsted fully and immediately honors its obligations.
“Ultimately, as we have seen in other states recently, offshore wind projects awarded prior to 2020 have been impacted by a combination of interest rate escalation, supply chain cost increases, and inflation. And while today is a setback, the future of offshore wind in New Jersey remains strong. In recent weeks we’ve seen a historically high number of bids into New Jersey’s ongoing third offshore wind solicitation, and the Board of Public Utilities will shortly announce two additional solicitations related to our first-in-the-nation State Agreement Approach to build an offshore wind transmission infrastructure.
“I remain committed to ensuring that New Jersey becomes a global leader in offshore wind – which is critical to our economic, environmental, and clean energy future.”
Govenor Phil Murphy stated Today’s decision by Orsted to abandon its commitments to New Jersey is outrageous and calls into question the company’s credibility and competence. Press Pool File photo Rich Hundley
Senate Minority Leader Anthony M. Bucco issued the following statement in response to Orsted announcing that they are withdrawing from New Jersey’s offshore wind project.
“Republicans stated for months that Orsted’s offshore wind project was unsustainable and would inevitably fail. Orsted’s decision today confirms that Republicans were right when we said this was too much, too fast, and too costly. Their financial challenges were glaringly obvious, yet Democrats ignored the warning signs to rush through Governor Murphy’s extreme energy master plan without any due diligence. This is just another example of how Governor Murphy’s outrageous energy master plan is coming back to hurt New Jersey taxpayers.
Thanks to the leadership of representatives like Congressman Jeff Van Drew and my Republican colleagues in the Legislature, the negative environmental and economic effects of Governor Murphy’s failed progressive offshore wind agenda were exposed. The public deserves to know how much money has been wasted on this epic boondoggle. Republicans stand ready to meet this challenge and to ensure that New Jersey’s energy portfolio is strong, safe, transparent, diverse, and fair. It’s time for Republican leadership.”
Senate Republicans warned over the summer that Orsted’s financial problems would pose a threat to the sustainability of their offshore wind projects. Orsted’s announcement today confirmed that Republicans were right.
@GovMurphy I told you & @NJSenDems it was a failure. Pushing this "green energy" plan & ignoring all calls to stop. It will take years for the citizens of NJ to pay for the unnecessary costs and damages already done by your irresponsibility. #VoteRedhttps://t.co/JYoLlCT5NX
Today, we announced an agreement with @Orsted to marshal New Jersey’s first offshore wind project with Ocean Wind 1. This partnership will: ✅ Create good-paying jobs ✅ Accelerate our clean energy goals ✅ Establish New Jersey a national leader in offshore wind pic.twitter.com/AYXuiIyU5s
Interim report for the first nine months of 2023 – Ceased the development of Ocean Wind 1 and Ocean Wind 2, took final investment decision on Revolution Wind, and impairment losses of DKK 28.4 billion
Operating profit (EBITDA) for the first nine months amounted to DKK 19.4 billion. Excluding new partnerships, EBITDA amounted to DKK 15.4 billion, DKK 1.0 billion higher than in the same period last year.
Earnings from offshore sites amounted to DKK 13.0 billion, which was DKK 6.8 billion higher than in the same period last year, and were positively affected by ramp-up at Hornsea 2 and Greater Changhua 1 and 2a and the negative impact from hedges in 2022 not being repeated.
Due to adverse impacts relating to supply chain delays, increased interest rates, and the lack of an OREC adjustment on Sunrise Wind, we have recognised impairment losses of DKK 28.4 billion in 9M 2023. The majority of these (DKK 19.9 billion) relates to our US offshore project Ocean Wind 1.
Net profit amounted to DKK -19.9 billion, and return on capital employed (ROCE) came in at -14 %. Net profit and ROCE excluding impairment losses amounted to DKK 8.5 billion and 13 %, respectively.
Our previously guided EBITDA for 2023, excluding new partnership agreements, of DKK 20-23 billion remains unchanged, when excluding a provision of approximately DKK 8-11 billion related to potential cancellation fees following our decision to cease the development of Ocean Wind 1. Due to a later timing across our project portfolio and the termination of investments on Ocean Wind 1, our gross investment for 2023 is now expected to amount to DKK 40-44 billion, a reduction of DKK 4 billion.
Mads Nipper, Group President and CEO of Ørsted, says in a comment to the interim financial report for the first nine months of 2023: “We’re pleased with the performance of our operating assets in the first nine months of 2023, which drives a satisfactory development in our earnings. Our operating profit (EBITDA) excluding new partnerships increased by DKK 1 billion compared to the same period last year, and earnings from our offshore sites have more than doubled compared to last year.
“The current market situation with supply chain challenges, project delays, and rising interest rates has challenged our offshore projects in the US, and in particular our offshore project Ocean Wind 1, which has led to significant impairments in Q3 2023.
“Therefore, as part of our ongoing review of our US offshore wind portfolio, we’ve decided to cease the development of Ocean Wind 1 and Ocean Wind 2. At the same time, we’ve taken final investment decision on the 704 MW Revolution Wind project, progressing it to the construction phase with an attractive forward-looking value creation.
“Based on the challenged US portfolio and the current market conditions, we’ve initiated numerous actions to ensure our capital structure and rating and to improve our competitiveness and value creation.”
Financial key figures for 9M 2023:
DKK million
Q3 2023
Q3 2022
%
9M 2023
9M 2022
%
EBITDA
9,173
12,317
(26 %)
19,403
25,361
(23 %)
– New partnerships
4,007
9,346
(57 %)
4,007
10,916
(63 %)
– EBITDA excl. new partnerships
5,166
2,971
74 %
15,396
14,445
7 %
Profit (loss) for the period
(22,562)
9,355
n.a.
(19,898)
15,325
n.a.
Cash flow from operating activities
9,796
(11,309)
n.a.
22,362
(8,991)
n.a.
Gross investments
(9,204)
(14,417)
(36 %)
(25,470)
(27,621)
(8 %)
Divestments
1,735
22,459
(92 %)
(319)
24,653
n.a.
Free cash flow
2,327
(3,267)
n.a.
(3,427)
(11,959)
(71 %)
Net interest-bearing debt
42,892
45,701
(6 %)
42,892
45,701
(6 %)
FFO/adjusted net debt
20.9 %
35.3 %
(14 %p)
20.9 %
35.3 %
(14 %p)
ROCE
(13.7 %)
24.4 %
(38 %p)
(13.7 %)
24.4 %
(38 %p)
Earnings call In connection with the presentation of the interim report for the first nine months of the year, an earnings call for investors and analysts will be held on Wednesday, 1 November 2023 at 14:00 CET.
STAFFORD TOWNSHIP, NJ (OCEAN)–Ocean County Prosecutor Bradley D. Billhimer and Stafford Township Police Chief Thomas Dellane announced that in the early morning hours of October 31, 2023, the Stafford Township Police Department were summoned to a residence on Neptune Drive for a report of an explosion that developed into a structure fire. Responding Officers found a male victim on the front lawn of the residence, later identified as the homeowner, Kevin Thomas, 45, with serious burns to his upper torso. Mr. Thomas was airlifted to Temple Burn Center in Philadelphia, where he later succumbed to his injuries.
An investigation by the Ocean County Prosecutor’s Office Major Crime Unit-Arson Squad, Stafford Township Detective Bureau, Ocean County Fire Marshal’s Office and Ocean County Sheriff’s Office Crime Scene Investigation Unit was able to determine that the origin of the explosion was the southwest corner bedroom of the residence and that the cause of the explosion was the release of propane from a tank to an open flame.
Prosecutor Billhimer and Chief Dellane would like to acknowledge the Ocean County Prosecutor’s Office Major Crime Unit-Arson Squad, Stafford Township Police Department, Stafford Township Detective Bureau, Ocean County Fire Marshal’s Office, Ocean County Sheriff’s Office Crime Scene Investigation Unit and the Berkeley Township Hazmat Unit for their collective assistance in this investigation.
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