Business & Finance
OceanGate to Expand Its Submersibles Fleet
OceanGate has said it plans to build two new submersibles using its innovative carbon fiber and titanium design. The Everett-based company has begun the construction planning for the next two Cyclops-class subs (Cyclops 3 and Cyclops 4), which are planned to be rated for up to 6,000 meters. The comp
Chevron profit down on lower oil and gas prices
Oil major Chevron saw its profit and revenues drop in the third quarter of the year when compared to the last year’s third quarter affected by lower oil and gas prices.
REDI: New York State Announces $43 Million for 31 Projects
The New York State is providing $43 million to advance 31 projects in Oswego and Cayuga counties as part of the first round of funding under the Lake Ontario Resiliency and Economic Development Initiative (REDI). Governor Andrew Cuomo launched REDI in May to increase the resilience of shoreline comm
Samsung Heavy Lays Keel for GasLog’s 174,000 cbm LNG Carrier
The ship is scheduled for delivery in October 2020.
Celtic Norse Cable Branches to Scotland and Iceland
Celtic Norse fibre optic cable between Norway and Ireland will be partnered by Vodafone Iceland to develop a branch into Iceland. It is also investigating the opportunity to develop a branch into Scotland, initially with the government’s infrastructure body, the Scottish Futures Trust and Host in Sc
Capital Product Partners Eyes Scrubbers for Six More Ships
Capital Product Partners is looking to equip at least six more ships with scrubbers in the coming period.
Cameroon: Tower hires geotechnical drillship ahead of NJOM-3 spud
Oil company Tower Resources has signed a contract with Geoquip Marine Operations for a survey over its Thali block in Cameroon, ahead of the drilling operations start.
ITF, Saudi Arabia Agree to Support Seafarers in Local Seaports
ITF and Saudi Arabia have committed to work closely to support seafarers in all of the country’s ports.
Fugro Cashes In on Huawei Marine Networks Stake Sale
Fugro will be able to monetise part of its non-core interest in Global Marine Group (GMG), following the stake sale in Huawei Marine Networks (HMN). GMG has agreed to a sale of its 49% stake in Huawei Marine to Hengtong Optic-Electric, in a transaction that values HMN at $285 million, and Fugro’s st
All Set for Brighton Harbor Entrance Channel Dredging
The City of Port Phillip and Parks Victoria have just announced that Brighton Harbor Main (Eastern) Entrance Channel Maintenance Dredging project is about to begin in the next couple of days. According to the notice, dredging of the harbor main entrance channel will be carried out with a cutter suct
Hurtigruten Starts Biodiesel Tests
The fuel tested on board MS Polarlys is palm-oil-free, the company noted.
Wisdom Marine to Order Bulker Pair in China
Wisdom Marine has reportedly revealed plans to order two 82,300 dwt bulk carriers in China.
Solstad agrees extended suspension of payments amid restructuring
Norwegian offshore vessel owner Solstad Offshore (SOFF) needs more time to complete its restructuring and has therefore agreed an extension of suspension and deferrals of payments under its financing agreements. Late last year Solstad started discussions with its financial creditors and other stakeh
US Backs Marine and Hydrokinetics Sectors with Close to $25M
The US Department of Energy (DOE) has announced selections for up to $24.9 million in funding to drive innovative, industry-led technology solutions to advance the marine and hydrokinetics industry and increase hydropower’s ability to serve as a flexible grid resource. Selected projects should also