Business & Finance
Market normalization hits Maersk’earnings as demand woes and phasing in massive orderbook challenges loom
As the demand in the container shipping sector normalizes after a massive surge during COVID-19, the industry majors are reporting lower earnings and bracing for the upcoming period trying to keep discipline in Capex spending. Industry major Maersk reported a better-than-anticipated quarterly profit
Saipem’s two new European offshore deals rake in nearly $2 billion
Saipem has won two new E&C offshore contracts in Romania and in Germany with a total value of around €1.8 billion, which is close to $2 billion ($1.97 billion).
Go-ahead sets the seal on development of $4.4 billion deepwater gas project in Black Sea
Romania’s National Agency for Mineral Resources has endorsed the development plan for a massive deepwater natural gas project in the Black Sea.
French telecom giant takes delivery of offshore wind cable laying vessel
French telecommunications corporation Orange has taken delivery of its new cable laying and repair vessel (CLRV), said to be designed for the maintenance of cables for offshore wind projects. The vessel, named Sophie Germain after the pioneering French mathematician and philosopher, is currently on
Crown LNG Holdings to go public via merger deal
Crown LNG Holdings, a provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, and Catcha Investment, a publicly traded special purpose acquisition company, have announced a definitive agreement for a business combination that is set to result in Crown becom
TotalEnergies and SOCAR take on ADNOC as partner in gas field off Azerbaijan
TotalEnergies and SOCAR have inked a deal, which will enable each to sell a 15 per cent participating interest in a gas field off Azerbaijan.
TGS stays in the North Sea
Norwegian seismic company TGS has completed what it describes is a “key project” in the North Sea and started the next one in the same area. The projects are being carried out using the TGS Z700 ocean bottom node (OBN) crew. According to TGS, this crew has completed two projects during this North Se
International offshore rig count activity on the rise
Baker Hughes’ international rig count report shows a boost in the number of offshore rigs in July 2023, as 6 additional units were recorded compared to the month before.
OMV all set to embark on drilling activities with Transocean rig
OMV has secured a drilling permit from Norway’s authorities for exploration drilling in the Norwegian Sea, using one of Transocean’s rigs.
Recent global rig deals push Noble’s backlog to $5 billion as market tightens with higher day rates in the wind
Noble has secured a new contracts and extensions for its rigs in Brazil, Mauritania, Suriname, Malaysia, Australia, Norway, and the UK.
12-meter USV destined for Fugro hits the water (Video)
SEA-KIT International’s uncrewed surface vessel (USV) destined for Fugro has completed sea and endurance trials and will soon leave for the Dutch company’s UK office. SEA-KIT reported on 3 August that its latest X-Class USV for Fugro had undergone comprehensive sea and endurance trials and is soon s
Euronav inks $190.5 mln sustainability-linked loan for four newbuilds
Belgian tanker shipping major Euronav has received a commitment of $190.5 million to finance four newbuildings entering service in 2023 as part of the company’s latest sustainability-linked financing. Euronav has been working on its sustainability-linked financing since 2020, when it started convert
Wind-installed vessels set to surpass 40+ target by year-end
The wind-assisted propulsion sector has experienced remarkable growth and continued momentum during the first half of 2023, with significant advancements reshaping the maritime industry. During this period the sector has seen five new installations, the delivery of six wind-ready vessels, and boasts
Repsol extends platform supply vessel’s assignment
Golden Energy Offshore Services has secured another contract extension for one of its PSVs with Repsol Norge, a subsidiary of Spain’s Repsol.