Business & Finance
GMS wins long-term job following cantilever system trial
Gulf Marine Services (GMS) has secured a long-term contract for the GMS Evolution following a trial of the vessel’s Cantilever Workover System.
Nikkiso sells Turboexpander business to Air Liquide
Nikkiso, through Nikkiso Cryogenic Industries’ Clean Energy and Industrial Gases Group, has agreed to sell its Turboexpander Business Line to Air Liquide.
Diamond rig set to leave Ironbark well location
Ocean Apex, a Diamond Offshore-owned drilling rig, is working on plug and abandonment activities at the Ironbark-1 well with plans to demobilise underway.
L&T gets offshore platform job from ONGC
India’s L&T Hydrocarbon Engineering has secured a contract from ONGC)for a new living quarter & revamp at ‘NQ Complex’ (NLRNC-RT2) project offshore India.
James Fisher ups outlook on better Q4
Marine services player James Fisher and Sons has upgraded its outlook on annual performance following improved results in the fourth quarter of 2020. “Whilst the fourth quarter continued to be challenging, we saw an improvement in trading over the third quarter with revenue ahead sequentially by 7 p
United Overseas Group to acquire United Arab Chemical Carriers
United Arab Chemical Carriers Limited (UACC), the Dubai-headquartered international shipping company, has entered into a definitive merger agreement to be acquired by United Overseas Group Ltd, a company controlled by Peter Georgiopoulos and Leonidas Vrondissis. The transaction is structured as a re
Odfjell to issue a sustainability-linked senior unsecured bond
Norwegian shipping and tank terminal company Odfjell SE is planning to issue a sustainability-linked NOK denominated four-year senior unsecured bond. Odfjell said that the bond issuance would follow a series of fixed income investor calls commencing January 11, 2021. The company explained that it ha
Neptune adds more work to Deepsea Yantai rig backlog
Offshore drilling contractor Odfjell Drilling has won more work for its Deepsea Yantai drilling rig from Neptune Energy for operations offshore Norway.
Saipem drillship resuming Coral Sul drilling after Covid-19 pause
Saipem 12000, a Saipem-owned drillship, is resuming drilling operations at the Coral Sul project offshore Mozambique following an eight-month delay.
Norwegian offshore wind-to-hydrogen project gets financial boost
Innovation Norway has granted financial support to the Deep Purple project, which is developing a green hydrogen production system powered by offshore wind, with the hydrogen being stored on the seabed. A consortium led by TechnipFMC is working on a pilot project that will see a green hydrogen offsh
EIB nods to Arcadis Ost 1 loan
Offshore wind developer Parkwind has secured a loan from the European Investment Bank (EIB) for the construction of the 257 MW Arcadis Ost 1 wind farm. The amount approved is EUR 450 million. Located some 19 kilometres off the island of Rugen in the German Baltic Sea, Arcadis Ost 1 will comprise 27
Pioneering Spirit vessel hired to remove Morecambe platforms
Allseas’ giant heavy lift vessel, the Pioneering Spirit, will remove the DP3 and DP4 platforms from Morecambe Bay off the UK for Spirit Energy.
Tufton Oceanic reorganizes to seize growth opportunities
UK’s fund management company Tufton Oceanic has announced a deep corporate reorganisation designed to ensure further growth.
Oceaneering bags over $250M in contracts
Houston-based Oceaneering said it has won multiple contracts for its Integrity Management and Digital Solutions (IMDS) segment, since the beginning of Q4 2020. The contracts range in duration from three to five years, with a cumulative value exceeding $250 million. These awards, from major operators