Business & Finance
Motive snaps up Flowline Specialists
Motive Offshore has acquired subsea equipment experts Flowline Specialists for an undisclosed figure. The deal, which was finalised last week, is the latest development in Motive’s growth trajectory, bringing its headcount to approximately 200 and bolstering existing capabilities in the UK, Norway a
Seaspan orders five 12,200 TEU boxships
Hong Kong-based containership owner Seaspan Corporation has entered into purchase orders to build five 12,200 TEU containerships. The order is backed by 18-year long charters from an unnamed liner major. All five vessels are subject to vessel purchase obligations at the conclusion of the charters. T
OPT narrows quarterly loss
Ocean Power Technologies (OPT) has reported a decrease in net loss for the second quarter of the fiscal year 2021, compared to the same period a year earlier.
Yara to produce shipping fuel from CO2-free ammonia plant
Norwegian fertilizer company Yara International ASA is planning to produce green ammonia, powering emission-free shipping fuels and decarbonized food solutions. Against this backdrop, Yara will fully electrify its ammonia plant in Porsgrunn, Norway with the potential to cut 800,000 tonnes of CO2 per
Mubadala completes Thai field interest buy
Mubadala Petroleum has completed the acquisition of additional interest in its operated G1/48 Concession in the Gulf of Thailand, which includes the Manora field.
OMV hires Maersk Drilling rig to drill well offshore Norway
Austrian oil and gas company OMV has hired a Maersk Drilling jack-up drilling rig to drill an exploration well offshore Norway.
Energean negotiating to take full ownership of Israeli subsidiary
Greek oil and gas company Energean has entered into an exclusivity arrangement to take full ownership of its 70 per cent-owned Israeli subsidiary.
UK launches offshore wind growth and marine protection programme
The UK Government and The Crown Estate have launched a new partnership focused on the growth of the local offshore wind sector and protecting and restoring the marine environment. The Offshore Wind Evidence and Change Programme will be led by The Crown Estate, which has committed to a five year GBP
Fugro opens new remote operations center in Middle East
Fugro has opened a new remote operations centre in Abu Dhabi to facilitate the delivery of remote and autonomous solutions to clients in the Middle East and India region.
Japan pushes ahead with ammonia as a shipping fuel of the future
Japan is planning to introduce ammonia as fuel into the shipping industry and make it commercially available in the late 2020s as part of its efforts to go carbon-neutral by 2050. The solution was examined at today’s meeting of the fuel ammonia council, which was established back in October. The cou
Keppel cancels Awilco Drilling rig contract. Slaps another arbitration notice
Singapore-based offshore drilling rig builder Keppel has terminated a construction contract with Awilco Drilling for the Nordic Spring semi-submersible drilling rig and served Awilco with a notice of arbitration.
Santos inks Barossa LNG deal with Mitsubishi
Australian energy company Santos had signed a long-term LNG deal with Mitsubishi Corporation’s Diamond Gas International.
DSME wins $260 million order for 3 VLCCs from ADNOC
Abu Dhabi National Oil Company (ADNOC) has placed an order for three very large crude carriers (VLCCs) with South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering. The contract is worth KRW 282 billion ($ 260 million), according to the shipbuilder. The VLCC trio will be compliant with the
BIMCO: Lack of capacity for green recycling of large ships persists
Lack of sufficient recycling capability among shipyards included in the EU list to dismantle large ships remains an issue, according to BIMCO, despite the EU’s efforts to expand the list of approved yards. The EU Ship Recycling Regulation requires all large sea-going vessels sailing under an EU memb