Business & Finance
Future Proof Shipping picks Ballard’s fuel cells for retrofit of its 2nd containership
Dutch marine transportation service provider Future Proof Shipping (FPS) has selected Ballard Power Systems to provide PEM fuel cells for the retrofitting of its second inland container vessel, the FPS Waal. Once the project is complete, the vessel will operate emissions-free, powered by green hydro
While focusing on energy trilemma, BP more than doubles its profit
BP has delivered high profits in the third quarter of 2022 on a year-on-year basis, driven by natural gas trading and elevated energy prices.
Subsea construction vessel trifecta for Solstad
Solstad Offshore has secured new contracts for three of its subsea construction vessels (CSVs) which have a combined time charter value of approximately NOK 1.6 billion (around €156.5 million). Havfram contracted Normand Vision for a period of three years firm, plus options for additional two years.
PanGeo Subsea marks record year in acoustic corer contracts
PanGeo Subsea, a subsidiary of Kraken Robotics, is nearing completion of its busiest year so far in terms of acoustic corer contracts, valued at over $8 million in 2022. Earlier this year, PanGeo won a $5 million contract in the U.S. to support an oil platform decommissioning survey and acquire 63 o
MSC: CII methodology must be revised to avoid unintended penalizing of ships
MSC, the world’s largest ocean carrier by operated container vessel capacity, has backed the criticism of the impending carbon intensity indicator (CII) regulation amid fears that the methodology used might result in unintended consequences and penalization. Under the CII rating scheme, set to enter
Valaris expects Australian contract suspension to have no impact on earnings
Offshore drilling contractor Valaris has revealed that some more work has been awarded to its rigs but another contract has been suspended.
‘UK’s largest gas storage site’ back in operation ahead of winter to boost energy security
Centrica has increased the UK’s storage capacity by 50 per cent with the reopening of a gas storage facility in the Southern North Sea.
Survey at Malta-Italy interconnector nearing final stages
The preliminary marine route survey for the second Malta-Italy electricity interconnector is nearing its final stages, project developer InterConnect Malta reported. The seabed survey was split into three sections, including nearshore Malta, offshore – along the route between the two countries, and
Probe launched to see if North Sea operator failed to meet licence obligations
UK’s regulator has opened an investigation to find out whether an oil & gas company has failed to comply with North Sea licence obligations.
In focus: Window to meet 1.5°C target is closing, urgent transformation is needed now
As the UNEP points to slow progress on achieving 1.5°C target, it is more urgent than ever to put pledges into action, and accelerate the transition with strong support from the financial sectors.
Diamond Offshore’s giant semi-sub rig reaches UK
Diamond Offshore’s giant semi-submersible drilling rig Ocean GreatWhite has reached the Kishorn Port in the UK.
Equinor gets the all-clear to spud North Sea well
Equinor has received consent from Norway’s offshore safety regulator for exploration drilling in the North Sea off Norway.
High offshore wind demand lifts Fugro
Fugro has reported a revenue of €480.2 million for the third quarter of 2022, an increase of 17.4% compared to €378 million in Q3 2021, said to be supported by high demand for offshore wind solutions. The increase in revenue was fuelled by ongoing high client demand across markets, most notably rene
High oil & gas production and prices lift Equinor’s profit
Equinor has recorded “strong financial results” in 3Q of 2022 thanks to increased output, primarily gas, and elevated energy prices.