Business & Finance
FSL Trust moves forward with the sale of LR2 newbuilding pair
FSL Trust Management, as trustee-manager of First Ship Lease Trust, has executed memoranda of agreement to sell two LR2 product tanker newbuildings. The vessels FSL Suez and FSL Fos will be sold to an unnamed third party following their deliveries from COSCO Shipping Heavy Industry (Yangzhou). Based
Nexans swings to full-year profit
Cabling specialist Nexans has finished the year 2020 in black despite revenue drop of close to 9 per cent. The company booked net income of 80 million euros in 2020, compared to a net loss of 118 million euros in 2019. This included negative 102 million euros of estimated Covid-19 impact and the pos
Flex LNG posts profit jump
Flex LNG, a pure-play LNG carrier company, reported a significant jump in its quarterly profit on Wednesday.
OceanBased teams up with investment firms for Florida ocean current project
OceanBased Perpetual Energy has entered into partnership with advisory and investment firm GAK Capital to support the development of the project looking to capture the power of Florida’s Gulf Stream and convert it to clean electricity.
Blue Gem sets up met mast to assess Celtic Sea floating wind potential
Blue Gem Wind has received planning consent from the Pembrokeshire Coast National Park Authority to install a temporary met mast to study the floating offshore wind potential in the Celtic Sea. The 120-meter met mast and onshore monitoring equipment is provided by local supplier Solar Wheel. Due to
Aibel, Hitachi ABB ink Dogger Bank C OWF contracts
Aibel and Hitachi ABB Power Grids have been awarded contracts for the third phase of the 3.6 GW Dogger Bank Wind Farm development, Dogger Bank C. Under an EPC contract, Aibel will deliver a third converter platform for the world’s largest offshore wind farm. In October 2019, the company was selected
BW Offshore buys into Ideol
The oil & gas services provider BW Offshore has signed a share purchase agreement to become a strategic owner of the floating wind technology developer Ideol. The deal will see BW Offshore obtaining a 50 per cent stake by investing EUR 60 million and the establishment of BW Ideol, a global integrate
Mubadala Petroleum elects new CEO to take it forward amid energy transition
Oil and gas company Mubadala Petroleum, a subsidiary of Mubadala Investment Company, has appointed Mansoor Mohamed Al Hamed as its CEO.
Lukoil jumps in with takeover offer for FAR
Following a failed attempt to enter into the RSSD project off Senegal through the acquisition from Cairn, Lukoil has now made a takeover offer for FAR.
Hapag-Lloyd bullish on yearly earnings amid strong demand
German liner company Hapag-Lloyd expects very strong earnings growth amid exceptional demand for container transports, which has spurred freight rates. Based on preliminary business figures for the month of January and the current business situation, the company’s executive board anticipates EBITDA
Aker Solutions to work on Troll electrification for Equinor
Aker Solutions has secured a letter of intent from Equinor for the topside work on the Troll B and C platforms offshore Norway to reduce the CO2 emissions.
PTTEP to boost Malaysian energy supply following first gas from deepwater fields
PTTEP has confirmed the start-up of gas production from the Rotan and Buluh fields off Malaysia, which will increase the domestic LNG production capacity
QED Naval scores crowdfunding double
Edinburgh-based marine energy specialist QED Naval has secured over £750,000 in investment commitments – more than double of the initial target – in a crowdfunding campaign that will close this week.
GBM Works to build prototype for silent monopile installation
GBM Works has received a EUR 1.8 million grant from RVO.nl to construct a prototype of its monopile installation technology that is said to minimize noise pollution. The TU Delft spin-off is developing a method which uses a waterjet to liquefy the soil on the inside of the tube, which, in combinatio