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Business developments & projects
All 47 wind turbine jacket foundations and all subsea cables are now in place at the Formosa 2 offshore wind farm in Taiwan. The wind farm also has more than half of its wind turbines installed so far. The final jacket foundation was installed on 26 August, with the subsea cable works reaching completion on […]
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Business & Finance, Business developments & projects
Subsea 7 has reported a revenue of $1.4 billion for the third quarter of 2022, a decrease of $47 million or 3% compared to Q3 2021, mainly due to a drop in revenue in the Subsea and Conventional business unit. Revenue for the third quarter of the Subsea and Conventional unit was $990 million, a […]
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Business & Finance, Business developments & projects, Outlook & strategy, Vision
Subsea 7 has reported a revenue of $2.4 billion for the first half of 2022, an increase of $247 million or 11% compared to the first six months of 2021, driven by the Subsea and Conventional business unit and partly offset by lower revenue in the Renewables unit. Revenue of the Subsea and Conventional unit […]
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Authorities & Government, Business & Finance, Business developments & projects, Green Marine, Innovation, Outlook & strategy, Technology, Transition, Vessels
UK-headquartered wind propulsion specialist GT Green Technologies has won grant funding as part of this year’s Clean Maritime Demonstration Competition Round 2 (CDMC2) launched by the UK’s Department of Transport. The company said that it would use the funding to further develop and launch its proprietary AirWing propulsion solution. Namely, GT Green Technologies has developed […]
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Business developments & projects, Collaboration, Outlook & strategy, Research & Development, Transition
Norway’s Equinor and UK’s Centrica have signed a cooperation agreement to explore the development of a low-carbon hydrogen production hub at Easington in East Yorkshire, with the aim to strengthen the region’s status as the UK’s foremost hydrogen place. Under the agreement, the Centrica-operated area at Easington could transition to a low-carbon hydrogen production hub […]
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Business developments & projects, Certification & Classification, Infrastructure, Technology
Company infoSDC Verifier is an engineering company in mechanical and structural design that provides engineering consultancy services and tailor-made code-checking software. The SDC Verifier software is a powerful standard checking tool that helps to automatically verify your FEA results according to 30+ industry standards (DIN 15018, EN 13001, etc.) within ANSYS, Femap, and Simcenter 3D. […]
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Authorities & Government, Business & Finance, Business developments & projects, Environment, Exploration & Production, Project & Tenders, Regulation & policy, Rules & Regulation
Woodside has made what is said to be a significant step in the regulatory approval process for its operated Browse to North West Shelf Project in Australia.
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Authorities & Government, Business & Finance, Business developments & projects, Collaboration, Exploration & Production, Outlook & strategy, Project & Tenders, Regulation & policy, Rules & Regulation
The Duyung PSC partners have submitted an updated plan of development (PoD) for a gas project off Indonesia with first gas expected in 2025.
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Business developments & projects, Collaboration, Green Marine, Outlook & strategy, Transition, Vessels
Construction has been launched on the first 136-meter main sail-powered merchant ship, also known as the Neoliner, which is being developed by the French start-up NEOLINE Armateur. The ship is being built by the RMK Marine shipyard based in Turkey. The Neoliner will be the first one equipped with a SolidSail rigging system, supplied by […]
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Authorities & Government, Regulation & policy
The Clean Arctic Alliance, a global campaign made up of 20 international non-for-profit organisations, has written to the ministers from Norway, Denmark, Iceland, Greenland and the Faroe Islands to propose a number of domestic and international actions which would help to rapidly kick-start the establishment of green shipping corridors in Arctic waters.
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Business & Finance, Business developments & projects, Human Capital, Market outlooks, Outlook & strategy, Project & Tenders, Regulation & policy, Rules & Regulation
Certain shareholders have voiced concerns over Capricorn’s proposed merger with Israel’s NewMed, seeing it as “profoundly unfavourable.”
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Business & Finance, Business developments & projects, Exploration & Production, Project & Tenders
A rig has been hired for the drilling of a prospect in the UK later this year, but a FID for another project has been postponed.
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Business & Finance, Business developments & projects, Exploration & Production, Market outlooks, Outlook & strategy, Project & Tenders, Vessels
Odfjell Drilling is seeing an increase in demand for offshore rigs with average utilisation of 97.1 per cent for its own fleet.
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Business & Finance, Business developments & projects
Subsea 7 has updated its Adjusted EBITDA guidance for the full year 2022 following reduced progress on two offshore wind projects and vessel reshuffle at its subsidiary Seaway 7. Seaway 7 announced provisions against the results of project execution of offshore windfarm installations due to increased costs relating to weather delays and mechanical breakdowns. This, […]
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Authorities & Government, Business developments & projects, Collaboration, Equipment, Infrastructure, Innovation, Market outlooks, Outlook & strategy, Regulation & policy, Research & Development, Technology, Transition
Global energy company EDP has inaugurated a 5MW floating solar plant in Alqueva – said to be the largest floating solar installation on a dam reservoir in Europe.
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Business & Finance, Business developments & projects
Subsea 7 has reported a revenue of $1.2 billion in the first quarter of 2022, an increase of $197 million or 20% compared to Q1 2021, said to reflect strong growth in the Subsea and Conventional business unit. According to the UK-based company, the increase in revenue is impacted by significant activity on the Sakarya […]
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Business developments & projects, Outlook & strategy, Vessels
MOL Drybulk, a subsidiary of Mitsui O.SK. Lines (MOL), has signed a memorandum of understanding (MoU) with sustainable wood bioenergy producer Enviva to deploy an environmentally-friendly bulk carrier to reduce the greenhouse gas (GHG) emissions in the woody biomass supply chain.
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Taiwan’s Formosa 2 offshore wind farm has reached financial close, Macquarie’s Green Investment Group (GIG) said. Formosa 2 has been jointly developed by Macquarie Capital (75%) and Swancor Renewable Energy (25%). GIG will now play a role in delivering the project through its construction phase. The 376MW offshore wind project located off the coast of Miaoli […]
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The European Commission has approved the acquisition of joint control by JERA, Macquarie and Swancor over the Formosa 2 offshore wind project in Taiwan. The 376MW Formosa 2 offshore wind project is currently owned by Macquarie and Swancor. The Commission concluded that the proposed acquisition would raise no competition concerns as Formosa 2 has no activity within the European Economic […]
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The European Commission has approved the acquisition of joint control by JERA, Macquarie and Swancor over the Formosa 2 offshore wind project in Taiwan. The 376MW Formosa 2 offshore wind project is currently owned by Macquarie and Swancor. The Commission concluded that the proposed acquisition would raise no competition concerns as Formosa 2 has no activity within the European Economic […]
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Singapore-based marine and offshore engineering group Sembcorp Marine has landed a contract with Jan De Nul to fabricate 15 jacket foundations for the Formosa 2 offshore wind farm in Taiwan. Located four kilometres offshore Miaoli County in the Taiwan Strait, the 376MW Formosa 2 will be Taiwan’s largest offshore wind farm once commissioned in late […]
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Jan de Nul has contracted Seaway 7, the Renewables & Heavy Lifting business unit of Subsea 7, for foundation installation works on the Formosa 2 offshore wind farm in Taiwan. The contract includes transportation, pre-piling and installation of 47 jacket foundations. Seaway 7 will be working at the Taiwanese offshore wind farm site in 2020 and […]
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Singapore-based marine and offshore engineering group Sembcorp Marine has landed a contract with Jan De Nul to fabricate 15 jacket foundations for the Formosa 2 offshore wind farm in Taiwan. Located four kilometres offshore Miaoli County in the Taiwan Strait, the 376MW Formosa 2 will be Taiwan’s largest offshore wind farm once commissioned in late […]
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Business developments & projects, Operations & Maintenance, Project & Tenders
MMA has completed a survey work scope at Formosa 2 offshore wind project located off the coast of Taiwan.
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Authorities & Government, Business & Finance
Swancor has signed a power purchase agreement (PPA) with Taipower for the Formosa 2 offshore wind farm.
