Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (August 01 – August 07).

Fugro has revealed additional workforce trimming plans and disposal of its subsea services unit in efforts to align its business to current market conditions and lower activity levels.

The Dutch subsea and survey specialist has ended the first six months of 2016 (1H 2016) with a loss of €202 million ($225 million) of €2.49 per diluted share, compared to some €10 million loss in 1H 2015.

Total revenue decreased by 24.5 percent on a currency comparable basis from €1.24 billion to €905 million.

James Fisher has acquired the entire share capital of Lexmar Engineering Pte Limited and Lexmar Sat Systems Pte Limited (together ‘Lexmar’).

The initial consideration is SGD 17.5 million (USD 13 million) in cash, with further future consideration of up to SGD 9.3 million (USD 7 million) subject to the completion of certain projects, the company said.

Lexmar is a provider of service and support of diving equipment and saturated diving systems.

DOF Subsea has secured a contract from Shell Australia to provide a full time underwater services and multi-purpose supply vessel (MPSV) to the Prelude FLNG facility.

The contract is for five-years with 2x two year options, the company informed.

Prelude FLNG will produce, liquefy, store and transfer LNG at sea. The facility will be located in Western Australia.

Allseas’ has completed commissioning of the topsides lift system and the part of the harbour test programme of the single-lift installation/decommissioning and pipelay vessel ‘Pioneering Spirit’ in the Alexia harbour, Rotterdam. 

All twelve installed topsides lifting beams on board Pioneering Spirit have been tested to their respective lift capacities of nearly 3700 metric tons.

During harbour lifting trials the twelve beams together lifted over 44,000 tonnes, the company said.

Swiber Holdings, has applied to discharge the provisional liquidation order and withdrawn the winding up application following discussions with its major financial creditor.

Namely, the Singapore-based company and its subsidiary, Swiber Offshore Construction have taken out applications to be placed under judicial management and interim judicial management instead of liquidation.

The applications have been fixed to be heard by the High Court of Singapore on Tuesday, August 2, 2016.