Business & Finance
Impairments drag GC Rieber into the red
Norwegian shipowner GC Rieber Shipping has slipped into the red in the fourth quarter of 2020 on impairment of Subsea & Renewables vessels. GC Rieber Shipping had a net loss of NOK 44.9 million in Q4 2020 including impairment of the Subsea & Renewables fleet of NOK 37.1 million, compared with a net
Vantage to manage deepwater floaters for Seadrill Partners
Vantage Drilling has entered into an agreement to manage Seadrill Partners’ drilling rigs following the latter’s filing for Chapter 11 bankruptcy.
Harland & Wolff taking over BiFab Methil, Arnish sites
Owner of the Harland & Wolff shipyards, InfraStrata, is acquiring the assets of Scotland’s Burntisland Fabrication (BiFab) at Methil in Fife and Arnish in Western Isles. BiFab officially went into administration in December 2020 after a deal for jacket foundation work for the Neart Na Gaoithe (NnG)
Ocean Sun 2020 earnings in line with year before
Norwegian floating solar specialist Ocean Sun has released financial results for 2020, with a slight decrease in net loss when compared to the results posted a year before.
Castor Maritime enters the tanker market
Cyprus-based bulker owner Castor Maritime Inc. has entered into agreements to purchase two 2005 Korean-built Aframax LR2 tankers from an unaffiliated third-party seller for $27.2 million. Both vessels have attached time charter contracts with an unidentified charterer with an estimated remaining ter
Maersk Drilling adds more work to backlog with new Shell and NAM deals
Offshore drilling contractor Maersk Drilling has won new contracts for two of its drilling rigs. One contract is with Shell and the other one is with NAM.
Petronet creates LNG bunkering unit, reports profit jump
India’s largest importer of liquefied natural gas Petronet LNG has approved the creation of an LNG bunkering unit.
Beach gears up to drill up to six wells with Diamond rig
Beach Energy’s environment plan for development drilling and well abandonment in the Otway Basin off Australia has been accepted by Australian authorities.
Another puzzle falls into place for Yinson’s FPSO
Palfinger has secured a contract with Yinson to provide cranes, lifeboats, a rescue boat, and davits for an FPSO bound for Brazil.
Le Havre port embarks on € 12 million offshore wind upgrade
HAROPA – Port of Le Havre has awarded a EUR 12 million contract to the NGE group for the construction works related to Siemens Gamesa’s offshore wind turbine plant in the Port of Le Havre, France. NGE’s subsidiaries NGE Genie Civil, Guintoli, NGE Fondations, and Maia Sonnier will build a roll-on, ro
Ardmore to move toward more non-fossil fuel cargoes as part of the energy transition plan
The global energy transition will have a profound impact on the shipping industry, including product tanker and chemical tanker segments, Anthony Gurnee, Chief Executive Officer of Ardmore Shipping, believes. “While this will unfold over years, the impact has already been felt through anticipated re
Two platform supply vessels to be sold for $6.6 million
Northern Supply, where S.D. Standard Drilling has indirect ownership, has entered into a memorandum of agreement to sell the two platform supply vessels.
OWA releases export cable design recommendations to prevent failure
The Carbon Trust’s Offshore Wind Accelerator (OWA) has published new recommendations for fibre optic cable design to mitigate the risk of export cable failure in offshore wind. The five key recommendations are: The optical fibres should be encompassed by a stainless steel tube and stainless-steel wi
Norway greenlights plan for partial electrification of Sleipner field
Norwegian Ministry of Petroleum and Energy has approved a revised PDO for partial electrification of the Equinor-operated Sleipner field off Norway.