Business & Finance
Pioneering Spirit vessel installs new Buzzard module for CNOOC – gallery
CNOOC International has confirmed that the heavy lift of the Buzzard Phase II topside module onto the Buzzard ‘P’ platform was completed, using the Pioneering Spirit.
Subsea 7 and OHT combine to create pure play offshore wind company
Subsea 7 S.A. has agreed to combine its Renewables business unit with Norway’s OHT ASA. Subject to the customary approvals, conditions and relevant employee consultations, the combined company will be renamed Seaway 7 ASA and will initially retain OHT’s listing on Oslo’s Euronext Growth market, with
GC Rieber halves Shearwater stake
Norwegian shipowner GC Rieber Shipping has agreed to sell shares in Shearwater Geoservices Holding reducing its ownership from 17% to 8.5%. Gross proceeds from the sale will be $50.5 million. The sold shares had book value of $41.6 million per 31 March, GC Rieber informed. Following the transaction,
Hyundai Motor launches project for fuel cell-propelled ships
South Korean Hyundai Motor Company has signed a Memorandum of Understanding (MOU) with marine service provider Hyundai Global Service and classification society Korean Register (KR) to develop and commercialize hydrogen fuel cell systems on marine vessels.
DOE to accelerate hydrogen projects with $52.5M
The US Department of Energy (DOE) will grant $52.5 million to projects of next-generation clean hydrogen technologies.
Hot streak for Valaris continues with new Saudi Aramco deal
The trend of winning new deals and extensions continues for offshore drilling contractor Valaris following another extension for one of its jack-up rigs.
Solstad secures 1,000 vessel days with new deals and extensions
Norwegian offshore vessel owner Solstad Offshore has secured multiple new medium-term contracts and contract extensions for its vessels.
BP takes Valaris drillship for Mauritania and Senegal ops
Offshore drilling contractor Valaris has been awarded a contract for a drillship with BP offshore Mauritania and Senegal.
Eco Wave Power collects $9.2M in IPO proceeds
Swedish-Israeli onshore wave energy developer Eco Wave Power has closed its underwritten initial public offering (IPO) on Nasdaq, collecting $9.2 million in gross proceeds.
Avance Gas agrees sustainability-linked loan for dual-fuel LPG duo
Bermuda and Norway-based shipping firm Avance Gas Holding has signed and completed a $104 million sustainability-linked term facility with a bank syndicate.
UK decommissioning costs fall but sector urged to pick up speed
UK’s OGA has revealed that the decommissioning cost estimate has fallen to £46 billion (about $63.7 billion), the fourth year-on-year fall.
DP World pens $80 million lease agreement for chemical terminal
DP World, UAE Region, has signed a 30-year lease agreement with chemical distributor Petrochem Middle East for the expansion of a chemical distribution terminal.
WATCH: Aker BP installs jacket for new Hod B platform
Following a sail away from a yard in Verdal, a jacket for the Aker BP-operated Hod B platform has been installed in the North Sea off Norway.
TS Lines books 7,000 TEU boxship quartet at SWS
Taiwanese shipping line TS Lines has placed an order for the construction of four 7,000 TEU containerships with Shanghai Waigaoqiao Shipbuilding. The 7,000 TEU containerships, independently designed by Shanghai Merchant Ship Design & Research Institute (SDARI), will feature environmental design conc