Business & Finance
UK: Global Marine Systems to Maintain Ormonde Transmission Link
Offshore Transmission Operator Transmission Capital Partners has contracted with Global Marine Systems Energy Ltd., the largest independent provider of subsea power cable installation, maintenance and related engineering services worldwide, to provide cable repair and maintenance services for the tr
European Commission OKs Short-Term Rescue Loan for P S Werften
The European Commission has authorised under EU state aid rules, a state guarantee backing a rescue loan of €152.4 million(USD 186.5 mln) for the German shipbuilder P+S Werften in Mecklenburg-Vorpommern. The aid is in line with EU rules on rescue aid because it is limited in time and scope. The Comm
The Netherlands: Fairstar Heavy Announces Proposed Private Placement of Debt Securities
Fairstar Heavy Transport N.V. (FAIR) announced today that it intends to issue up to USD 335 million of five-year, senior secured debt securities in a private placement not registered under the U.S. Securities Act of 1933. The proceeds of the proposed offering will be used to re-finance the Company’s
Lack of Documentation Reason for Yme Platform Evacuation, Talisman Says
Talisman Energy, the operator of the Yme field and Yme MOPUstor platform which was yesterday evacuated, provided more details on the matter. “The reason why we chose to evacuate the installation was that we failed to receive a piece of documentation regarding the jack-up, and for security reasons we
The Netherlands: Shipkits Builds “MV Dublin” for Abis Shipping
This Abis Dublin, is a by Vuyk Engineering Groningen designed 6000 tonne twin screw, diesel-electric powered, multipurpose special cargo vessel. It has two separate engine rooms aft and a forward situated superstructure for accommodation and wheelhouse. The hull has a raked stem with a bulbous bow,
Tidal Transit: Extension of Contracts for Two Vessels (UK)
Leo Hambro from Tidal Transit has announced an extension of contracts for both of its stateoftheart transfer vessels working for wind farm development companies in the North Sea. “One of the vessels, Eden Rose, is under contract to Scira Offshore Energy Limited, the company developing the Sheringham
UK: Tidal Transit Announces Contracts Extension for Two Vessels
Leo Hambro from Tidal Transit has announced an extension of contracts for both of its state-of-the-art transfer vessels working for wind farm development companies in the North Sea. “One of the vessels, Eden Rose, is under contract to Scira Offshore Energy Limited, the company developing the Shering
Irish Maritime Development Office Releases Shipping Markets Review
On July 10 the Irish Maritime Development Office released a Shipping Markets Review for week 27, 2012, which provides an in depth analysis of international shipping markets and a global economic overview for the week. Based on the report, the container market top 20 carriers remain locked in intense
Saudi Arabia’s ADC Buys Rig from Standard Drilling
Cyprus-based SD Standard Drilling Plc (“Standard Drilling”) has entered into a final SPA for the sale of one rig (B325) under construction for a total consideration of USD 213,5m. The buyer is Arabian Drilling Company, a company incorporated in Saudi Arabia. The sale of the rig will give an estimate
Fairstar Plans Private Placement to Finance New Vessel ‘FATHOM’ (The Netherlands)
Fairstar Heavy Transport N.V., a provider of high-end ocean transportation services, announced today that it intends to issue up to USD 335 million of five-year, senior secured debt securities in a private placement not registered under the U.S. Securities Act of 1933. The proceeds of the proposed o
YOUMARES Conference Takes Place in Germany
YOUMARES is the name for the international conference of young marine researchers and engineers organized by the study group of the German Society for Marine Research (DGM). This event addresses all young marine scientists and engineers from all disciplines of fundamental and applied research, indus
Positioneering Appoints New General Manager (UK)
Positioneering, the first dedicated provider of global GNSS-based precise-positioning services to enter the offshore market in over a decade, has announced the appointment of David Stephen to the position of General Manager of its Europe-Africa business. David joins from Specialist Subsea Services w
Estonia: Nordecon AS Signs Construction Contract for Kärdla Town Guest Harbour
Nordecon AS and Kärdla Sadam Foundation signed a contract for the construction of Kärdla town (center of Estonia’s second biggest island Hiiumaa) guest harbour. The works consist of dredging 35,000 cubic meters, construction of seawalls in length of 500 meters and development of harbour’s operating
Singapore: Damen to Deliver Two Catamarans to SeaZip Offshore Service
Last week, two twin axe catamarans of the successful Damen FCS 2610 type have been launched at Damen’s newbuilding yard in Singapore. Both vessels will be completed in the coming weeks after which they will be transported to the Damen yard in Gorinchem, The Netherlands where they will be delivered t