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With orders set to reach $173 billion, ‘robust’ demand in store for FPSO, FLNG and other floating production units
New report predicts a boost in demand, with orders reaching up to $173 billion for 168 floating production units within the next five years.
ONE wraps up stake acquisition in US West Coast and Rotterdam terminals
Singapore-based container shipping company Ocean Network Express (ONE) has completed the acquisition of a 51% stake in TraPac LLC and Yusen Terminals LLC on the US West Coast, and a 20% stake in Rotterdam World Gateway (RWG), after clearing all regulatory hurdles. The move is being pursued as ONE wo
New commercial oil discovery offshore Gabon deemed to be ‘substantial’
Oslo-listed oil and gas E&P player BW Energy has made a new oil discovery at an appraisal well which is part of its multi-well program offshore Gabon.
Following R&D program, NextGeo launches high-speed ROV
London-headquartered Next Geosolutions has launched a high-speed survey remotely operated vehicle (ROV), following a research and development program. HS-ROV Superior, a result of a collaboration between the company’s R&D and Technical Departments and high-tech ROV manufacturer Kystdesign, is a fast
Petronas and ExxonMobil find more oil offshore Suriname
Petronas and ExxonMobil have made an oil discovery at an exploration well in Block 52 located offshore Suriname.
Construction milestone at NeuConnect as UK and Germany set up energy and climate partnership
The first phase of UK construction has been completed for the first-ever energy link between the UK and Germany, keeping the project on track. The construction milestone comes as NeuConnect Chair Julia Prescot joined the signing of a new UK-Germany Joint Declaration of Cooperation on Energy and Clim
Maersk reveals 10,000 job cuts amidst profit plunge and industry’s ‘new normal’
Danish container shipping giant A.P. Moller-Maersk unveiled this morning a further downturn in both profit and revenue, resulting in a decision to cut 10,000 jobs as a response to the ongoing challenges of declining freight rates and lackluster demand within the container shipping industry. Despite
Sinopec puts world’s largest LNG storage tank into operation
China Petroleum & Chemical Corporation (Sinopec) has revealed that the world’s largest LNG storage tank was put into operation at its Qingdao LNG receiving terminal in China. The construction of the tank with a storage capacity of 270,000 cubic meters began in early 2022 and it was put into service
HMM bolsters presence in dry bulk sector
South Korean shipping line HMM has concluded time charter contracts for four bulk carrier newbuildings. The charter deal is worth around $954.2 million with an undisclosed company and is set to last from 2026 to 2042. The contract marks a significant move in the company’s expansion strategy into the
Nokia firm delivers subsea tech for Equinor’s oil project
Alcatel Submarine Networks (ASN), part of Nokia, has delivered subsea control cable infrastructure for an Equinor-operated field recently brought on stream. ASN has supplied, installed, and pre-commissioned DC/FO subsea control cable infrastructure, which provides high electrical power and fiber con
Team Electric services picked for Polish hybrid ferries project
Team Electric has signed an agreement with Remontowa Shiprepair Yard to provide services for three Polsteam hybrid dual-fuel Ro-Paxes.
Danish Port of Kalundborg lifts net-zero efforts with new equipment
The Port of Kalundborg in Denmark has revealed it will electrify all cranes in its deep-water container terminal within seven months to further lift the standard of responsibility.
Australian giant gas project facing potential delays due to court injunction
Santos is being prevented from continuing its planned work on the Barossa gas field development project offshore Australia due to an interim injunction.
DAI to collaborate with Siemens Energy on green ammonia project in Egypt
Following last year’s memorandum of understanding (MoU) with Suez Canal Economic Zone (SCZONE), German company DAI Infrastruktur has now joined forces with compatriot technology major Siemens Energy to develop its green ammonia project in East Port Said, Egypt. On October 30, 2023, DAI signed an MoU