Business & Finance
Flex LNG posts loss due to weak market
Norway-based Flex LNG logged a net loss of $6.7 million in the second quarter as the Covid-19 pandemic continues to affect the shipping market. The net loss grew when compared to $3.9 million last year but shrank looking at the previous quarter when the firm logged a $14.9 million loss. Vessel opera
Shell taps Dayang for topside maintenance in Malaysia
Malaysia’s services provider to the oil and gas industry Dayang has won a contract with Shell in Malaysia for the provision of “topside major maintenance services.”
Equinor hires Odfjell rig for three more wells
Norwegian oil major Equinor has chosen to use Odfjell Drilling’s Deepsea Atlantic semi-submersible drilling rig offshore Norway.
Port of Cortlandt details on its New York offshore wind bid
The Port of Cortlandt project, developed by a consortium led by AKRF Inc. and pre-qualified for bidding at the State of New York’s latest offshore wind solicitation, has released more details on the plans to utilise a waterfont site in the Town of Cortlandt for offshore wind activities. In July, New
BHP to sell stake in Exxon-operated Bass Strait joint venture
Energy giant BHP has revealed plans to sell its 50 per cent stake in the Bass Strait oil and gas venture to enable focusing on higher-value petroleum assets.
NextDecade secures approval to change Rio Grande LNG design
US company NextDecade has received approval from federal regulators to ditch one train from its proposed Rio Grande LNG export plant in Texas. The original design for Rio Grande LNG included six trains each capable of producing 4.5 million tonnes per year. However, NextDecade announced in July it wo
Bombora makes two new senior appointments
Wave energy technology pioneer, Bombora, has recruited Rembrandt Niessen as chief commercial officer and James Thadchanamoorthy as chief financial officer. The Pembroke Dock based marine energy company is strengthening its team to bolster in-house commercial capability, resource, and focus. With the
Kongsberg Maritime to convert Island Offshore PSV trio to hybrid power
Norwegian offshore shipping company Island Offshore has awarded a contract to Kongsberg Maritime to supply turnkey hybrid battery solutions for three of its platform supply vessels.
Petronet LNG profit down on lower volumes
India’s biggest LNG importer Petronet reported a drop in net profit due to lower demand in the country caused by the Covid-19 lockdown. Net profit after tax stood at 5.2 billion rupees ($69.5 million) in the first quarter of the 2020-21 fiscal, compared to 5.6 billion rupees last year. Revenues drop
Golden Ocean joins Getting to Zero Coalition
Dry bulk shipping major Golden Ocean Group Limited (GOGL) has become a member of the Getting to Zero Coalition, a powerful industry alliance committed to accelerating maritime shipping’s decarbonization. The ambition of the coalition, which has over 110 company members, is to have commercially viabl
Carnival hit by ransomware attack
The world’s largest cruise shipping company Carnival Corporation has fallen victim to a ransomware attack on August 15, the company said in a regulatory filing. The attack accessed and encrypted a portion of one brand’s information technology systems, and included the download of certain of the comp
JDC rig duo stays at giant Al Shaheen oilfield off Qatar
Qatari North Oil Company (NOC) has extended drilling contracts for a Japanese jack-up rig duo at the giant Al Shaheen offshore oil field in Qatar.
Top two US ports boast strong July results
The two busiest U.S. container ports, the Port of Long Beach and Port of Los Angeles, experienced a major rebound in July posting a significant increase in handled cargo, which has been on the decline for months due to the impact of the coronavirus pandemic. Terminal operators and dockworkers at the
TORM fits 40 of 49 planned scrubbers as it books strongest H1 since 2008
Danish carrier of refined oil products TORM has installed 40 scrubbers on its ships from the planned 49, the company revealed in its business report. TORM added that of the remaining nine installations, five are expected to be conducted in the third quarter this year, one in the fourth quarter this