Business & Finance
Sembcorp Marine battling COVID-19 related workforce shortages
Singapore-based Sembcorp Marine continues to face COVID-19 supply chain constraints and shortage of skilled workers, the company said announcing its Q1 results. The workforce shortage has been ascribed to the ongoing travel bans caused by the pandemic, as foreign workers, primarily those from India
Transocean optimistic about contracting after securing new rig jobs
Following new contract awards to its drillships and a harsh environment rig, Transocean is optimistic about contracting throughout the year.
TechnipFMC’s subsea orders double in Q1 2021
TechnipFMC’s Subsea division has reported inbound orders of $1.5 billion in the first quarter of 2021, more than double compared to the fourth quarter of the prior year. Subsea reported first-quarter revenue of $1.3 billion, an increase of 10.6 per cent from the same period in 2020, said to be large
Ocean Sun sees first quarter revenue drop
Norwegian floating solar developer Ocean Sun has recorded a slight drop in revenues for the first quarter of 2021, when compared to the same period a year earlier.
VSM: There is a risk of irreversible loss of essential shipbuilding skills
The corona pandemic has further exposed the vulnerabilities of the German and EU shipbuilding sectors, which have already been under massive pressure from the Asian competition. Specifically, German shipbuilders have been predominantly active in the cruise shipbuilding and large yacht building secto
Aban suspends jack-up rig as India grapples with Covid-19 surge
India’s offshore drilling contractor Aban Offshore has suspended operations on one of its jack-up drilling rigs due to the Covid-19 outbreak.
Velesto rig working for ConocoPhillips sinks off Malaysia
A jack-up drilling rig owned by Malaysia’s Velesto Energy has sunk offshore Malaysia while working for the oil major ConocoPhillips.
Maersk and Shell join forces for Gulf of Mexico workforce training
The Shell Robert Training and Conference Centre in Louisiana has established a partnership with Maersk Training.
Neptune and Spirit to develop UK gas find as Cygnus tieback
Spirit Energy and Neptune Energy have agreed to partner on the development of the Pegasus West gas discovery in the UK Southern North Sea.
Ocean Infinity buys Portuguese software engineering firm
Marine robotics company Ocean Infinity has acquired the Portugal-based software engineering specialists Abyssal. Abyssal’s technology ranges from a managed cloud data platform, synthetic environments, advanced 3D visualization and operation management system tools for the offshore industry. Accordin
New CFO elected as FAR moves to finalise Sangomar sale
Australia’s FAR Limited has announced the departure of its current and the appointment of a new chief financial officer (CFO).
Port of Newcastle becomes 1st Australian port to obtain sustainability-linked financing
Australia’s largest east coast seaport, Port of Newcastle, has secured A$515 million (approximately $399 million) in sustainability-linked loans. National Australia Bank (NAB), which has led the development of the arrangement, said the loans incentivize the port to hit targets across a range of soci
Axess to provide offshore support services to Altera FPSOs
Axess Group, an asset integrity management company, has signed an offshore support services contract with Altera Infrastructure.
Petronas awards P&A gig to Tanjung Offshore
T7 Global’s subsidiary, Tanjung Offshore, has received an award from Petronas Carigali for the provision of plug & abandonment services.