Business & Finance
Wilhelmsen, HHLA invest in maritime-focused startups
Motion Ventures, a consortium-driven investment fund powered by Rainmaking, was launched on 25 February 2021.
TWMA wins first job with Spirit Energy in North Sea
Specialist drilling waste management company, TWMA, has secured a seven-figure contract with an exploration and production company, Spirit Energy.
TechnipFMC stays in the red
UK-based TechnipFMC has reported fourth-quarter 2020 loss of $39 million or 9 cent per diluted share against $2.4 billion loss same time last year. Adjusted diluted earnings per share was 5 cents, with analysts projecting some 20 cents. Revenue for the quarter was down from Q4 2019 some eight per ce
Apollo secures funding for floating wind mooring solution
Apollo Engineering has secured a share of £1.3 million funding from the Offshore Wind Growth Partnership (OWGP) to tackle mooring challenges of floating offshore wind. Apollo said its PALM device is a form of disruptive technology focused on the safe and quick connection/ disconnection of the critic
ST3 Offshore put up for sale after going bankrupt
Polish manufacturer of steel foundations for offshore wind farms, ST3 Offshore – which declared bankruptcy in March 2020 – has been put up for sale by the Official Receiver of the company in insolvency. A tender has been issued for the sale of ST3 Offshore with a reserve price of the company amounti
EnQuest farms down North Sea field to Hibiscus
EnQuest is farming down its interest in the Eagle discovery in the UK North Sea to Anasuria Hibiscus for a nominal consideration of $1.
Subsea 7 reports $1.1 billion loss in 2020
Subsea 7 has recognised a major loss in 2020, mostly on impairment charges, but increased its backlog by 20 per cent and kept revenue down only five per cent compared to 2019. The engineering and construction specialist recognised 2020 net loss of $1.1 billion, against loss of $82 million in 2019. I
AqualisBraemar to perform DP approvals for Petrobras shuttle tankers
Brazilian national oil company Petrobras has contracted AqualisBraemar with DP acceptance and annual trials for its shuttle tanker fleet operating in Brazil.
Shelf Drilling delivers sold rig to ADNOC Drilling
Offshore drilling contractor Shelf Drilling has completed the previously announced sale of a jack-up rig to ADNOC Drilling.
Petrobras to order Brazil’s largest oil production unit from SBM Offshore
Petrobras has signed a letter of intent with SBM Offshore for the chartering of the FPSO Almirante Tamandaré to be installed in the Búzios field off Brazil.
Transocean lands higher day rate for drillship and more work for idle rig
Offshore drilling contractor Transocean has secured more work for a drillship in the Gulf of Mexico and for a semi-submersible in Myanmar.
Cheniere confirms multiple LNG supply deals
US LNG export company Cheniere has secured over 4 million tonnes of LNG supply deals during the fourth quarter of the year.
NKT eyes improvement in 2021 on record high-voltage order backlog
NKT, the power cables business, has delivered improved revenue in Q4 2020 and on an annual basis. The cable division generated quarterly revenue of some €269 million, against €262 million same time last year. Year-to-date revenues stood at €1.08 billion (excluding Photonics business unit), versus €9
Tellurian focuses on debt reduction in 2020
US LNG export project developer, Tellurian has continued its patch of building an integrated natural gas business in 2020.