Business & Finance
Equinor’s NY offshore wind plans could bring 350 jobs in Port of Albany
If Equinor’s bids are successful at New York State’s latest offshore wind solicitation, that could lead to creation of up to 350 jobs related to manufacturing of wind turbine components at the Port of Albany in upstate New York. Namely, the developer included the Port of Albany in its proposals rece
Pacific International Lines offered $600M lifeline as it fights to avoid liquidation
Pacific International Lines (PIL) is seeking protection from the Singapore High Court from winding-up or enforcement orders as it tries to get its noteholders on board with a comprehensive restructuring plan. Under the plan, Singapore’s container shipping major is vying for fresh financing from Heli
Ghana orders Eni and Springfield to combine offshore oil fields
Ghana has imposed its terms and conditions for the Italian oil major Eni and domestic explorer Springfield E&P for the unitisation of their adjacent fields.
SSE, Marubeni, CIP team up for ScotWind leasing
Scottish offshore wind seabed leasing process has brought together Scotland-headquartered SSE Renewables, Japanese conglomerate Marubeni Corporation, and Danish fund management company Copenhagen Infrastructure Partners (CIP). According to the latest press release from SSE Renewables, the developer
Moody’s: Shipping to end 2020 better than expected
The rating agency Moody’s has revised its outlook for the shipping industry from negative to stable as the sector outperformed the agency’s projections for this year. The rating agency said the outlook for the global shipping industry had been negative since March 2020 coinciding with the impact of
DOF Subsea makes management changes
DOF Subsea has appointed Martin Lundberg as acting chief financial officer (CFO) with responsibility for the corporate finance functions in the DOF Subsea Group.
Shelf Drilling selling five stacked rigs
Shelf Drilling is selling five of its stacked drilling rigs. The rig owner has also won a couple of new gigs while some contracts have been suspended.
Volume recovery, cost-cutting measures help Hapag-Lloyd deliver strong results
German container shipping major Hapag-Lloyd once again reported strong earnings in the first nine months of this year, benefitting from volume recovery in the third quarter combined with stable freight rates and low bunker prices.
Trillions of dollars risk being stranded without a global R&D fund to decarbonize
Trillions of dollars could be misallocated if member states of the International Maritime Organization (IMO) fail to back an industry proposal for a global $5 billion research and development fund in order to de-risk the massive investment needed to decarbonize shipping. The call was made by the Int
BP making progress at Ironbark well off Australia
Oil major BP is making progress with the drilling of the Ironbark well located offshore Australia.
Equinor mulls concept for Barents Sea oil field, hands out study contracts
Equinor has awarded contracts for concept studies to progress the Wisting project development, in the Barents Sea, towards a final concept select decision.
Chrysaor awards long-term gig to DOF platform supplier
Norwegian offshore vessel provider DOF has been awarded a contract for one of its vessels by the North Sea operator Chrysaor.
Safe Bulkers starts gradual fleet renewal focusing on green ships
Dry bulk shipping company Safe Bulkers wants to gradually renew its fleet with modern designs compliant with the new environmental regulations. In line with those efforts, in October 2020, the company signed a deal to buy a Japanese-built, Kamsarmax class, 82,000 dwt, newbuild bulker with a schedule
SBM Offshore picks LOC for marine warranty services on two FPSOs
LOC Group has been awarded new contracts with SBM Offshore to act as Marine Warranty Surveyor on two of its FPSO projects.