Business & Finance
Statoil, Rosneft to Jointly Bid for Norwegian Barents Sea Licenses
Statoil and Rosneft today signed agreements on joint bidding for exploration licenses in the Norwegian Barents Sea and on Joint Technical Evaluation covering two Russian onshore assets. This concludes the first implementation agreements envisaged in the strategic cooperation that the two companies e
MODEC FPSO Orders Riser Pull-in Package from IHC Winches (The Netherlands)
IHC Winches, part of IHC Merwede, has signed a contract for the design and manufacture of a riser pull-in spread to be placed on a MODEC Floating Production Storage & Offloading vessel (FPSO). The delivery of the riser pull-in spread is scheduled for Q1 2013. Part of this system will be built in Bra
Concordia Maritime Orders Two Tankers from GSI (China)
Concordia Maritime has signed a contract with Guangzhou Shipbuilding International (GSI), China for the delivery of two chemical parcel tankers of approx. 50,000 dwt at the end of 2014/beginning of 2015. The investment amounts to around SEK 550 million and the intention is to employ the vessels in t
Sweden: Vattenfall to Invest EUR 4.2 Billion in Offshore Wind Projects
Vattenfall will invest a quarter of its planned EUR 16.6 billion into European offshore wind projects through the 2012-2016 period. Probably, the most of the EUR 4.2 billion amount will be invested in offshore wind sector in Germany and the UK, the Windpower Monthly news site informs. While waiting
Denmark Simplifies Registration Process
Merchant ships can now register preliminarily in the Danish DAS and DIS shipping registers on the basis of a copy of the deletion certificate from the ship’s previous register. This meets a request from the business for quicker registration of loans. From June 20 2012, a preliminary registration wit
WPA, ST Marine Join Forces on e-SEAMatic Development (Singapore)
The Karmøy division of Westcon Power & Automation AS (WPA) has found new ways to build the best automation system in the shipping industry. It has now signed an agreement with the shipbuilding giant ST Marine in Singapore, which will be involved in the development of the e-SEAMatic automation system
Statnett, National Grid Develop Interconnector Between Norway and UK
Statnett and National Grid have signed an agreement to confirm their plans to develop an electricity interconnector between Norway and the UK with a goal to have it operational by 2020. The North Sea Network (NSN) project is a key to further development of the North-European power grid, and of high
France: IHO Celebrates World Hydrography Day
The International Hydrographic Organization (IHO) celebrates this year’s World Hydrography Day on 21st June 2012. The theme for 2012 is “International Hydrographic Cooperation – supporting safe navigation”. International cooperation lies at the heart of the IHO. The Organization draws its expertise
UAE: Polarcus Adira Joins the Polarcus Fleet
Polarcus Limited ( PLCS) announced that Polarcus Adira AS, a member of the Polarcus Group, took delivery today, 21 June 2012, of POLARCUS ADIRA, the eighth 3D seismic vessel to date to join the Polarcus fleet. The vessel was built at Ulstein Verft in Norway and following a short shakedown will comme
Providence Announces Barryroe Well Update (Ireland)
Lansdowne Oil & Gas plc, the AIM listed oil and gas exploration company, received the announcement today of the technical update by Providence Resources plc (“Providence”) on the successful Barryroe appraisal well 48/24-10z in the North Celtic Sea. Lansdowne has a 20% interest in the Barryroe projec
France: Bourbon Secures Major Financing for Vessel Investment
To support its growth and finance its investment program for new vessels, BOURBON announced the establishment of new financing for a total of 420 million euros (approximately USD 532 million). The financing takes the form of a new Club Deal for a total of 240 million euros with a syndicate of 8 Fren
Banks Provide Bourbon with USD 532 Mln Loan for New Offshore Vessels (France)
An international player in offshore oil and gas marine services, BOURBON, based in France, has secured bank loans to finance the growth of its fleet. Spurred by an increasing world market oil demand, BOURBON decided to invest massively in a new large series of new generation vessels.
EU Member States Need to Carry Out Maritime Spatial Planning
The European Commission needs to encourage EU Member States to carry out maritime spatial planning, and co-operate on how they use their sea space, due to the growing number of users of Europe’s seas – including offshore renewable energy – a new report, co-financed by the European Commission’s Intel
UK: J+S Launches Mooring Verification System
Barnstaple and Aberdeen based engineering firm J+S enjoyed a successful launch of their latest addition to their marine renewable energy product portfolio at AllEnergyUK in Aberdeen last May. The J+S Mooring Verification System (MVS) is an extension of the subsea range of products developed specific