Business Developments & Projects
BP profit soars on higher oil and gas prices
Driven by higher oil and gas prices, BP saw its profit soar in the third quarter of 2021 when compared to the same period last year.
MOL, Vale to jointly study rotor sail use on bulk carrier
Japanese shipping company Mitsui O.S.K. Lines (MOL) has signed an agreement with Vale International SA, part of Brazilian mining giant Vale, to conduct a joint study on the installation of a wind propulsion system on a 200,000-ton in-service bulk carrier, which mainly transports iron ore for steel p
Fresh contracts pour in for offshore rig owners as market continues to recover
Offshore rig owners are reaping the benefits of market recovery with more and more players hiring rigs for their exploration plans.
EU leading nations support marine electrification as climate action tool
New polling commissioned by climate action solution provider Shift Clean Energy has shown “a remarkably high level of support” for marine electrification as a way to fight climate change.
Seaway 7 picks V&SH Offshore for cable termination and testing
Seaway 7 has awarded V&SH Offshore with a framework agreement for the provision of cable termination and testing services.
ROVOP counts £25 million in contract wins
In the last six months, an independent remotely operated vehicle (ROV) specialist ROVOP has secured contracts valued at £25 million (around $35 million) in offshore energy sectors.
Hapag-Lloyd raises outlook for 2021 reflecting strong performance
German container shipping major Hapag-Lloyd has raised its earnings outlook for the current financial year after posting very strong results in the first nine months of 2021.
Flex LNG secures charter deals for 2 LNG carriers
Norwegian LNG carrier company Flex LNG has secured a pair of time-charter contracts with an undisclosed “energy major.”
McDermott focusing on final piece of the puzzle for Tyra
Following the sail away of two bridges and a flare, McDermott is focusing on completing a final piece of the puzzle for Tyra.
IAPH, SGMF team up to enable low & zero-carbon fuels at ports
The International Association of Ports and Harbors (IAPH) and The Society for Gas as a Marine Fuel (SGMF) have teamed up to accelerate progress on provision of low & zero carbon fuels at ports.
Sylvia Boer on AYOP’s DecomMissionBlue initiative
Sylvia Boer, director of Amsterdam IJmuiden Offshore Ports (AYOP), shares more about the association’s recently launched DecomMissionBlue initiative to tackle the growing challenge of decommissioning and recycling offshore and maritime objects and other old assets.
Solstad gets its hands on another contract extension
Solstad Offshore has won a contract extension with Conoco Phillips for a platform supply vessel for operations offshore Norway.
FSRU LNG Croatia receives its 15th cargo
The FSRU vessel LNG Croatia, located on the island of Krk, has received its milestone cargo delivered by Methane Nile Eagle LNG carrier.
Gram Car Carriers launches private placement as PCTC market strengthens
Driven by the strengthening market environment, Norway-based transportation company Gram Car Carriers ASA (GCC) has decided to issue a $110 million equity private placement and begin trading on Euronext Growth.