Business & Finance
Three players develop green solution to cut emissions in drilling operations
A collaborative, green solution developed by COSL Drilling Europe, Kongsberg, and NOV is poised to generate savings in offshore drilling operations.
Ocean Sun shuffles executive leadership team
Norwegian floating solar specialist Ocean Sun has appointed Nenad Keseric as the new Chief Operating Officer (COO), while the former COO takes up a different role within the company.
Stena Drilling in push to decarbonise exploration drilling
Stena Drilling has entered into a strategic framework agreement for decarbonisation exploration with dCarbonX for the development of “geoenergy” resources.
Ørsted’s operational wind farms give 14% boost to 2020 earnings
Ørsted’s earnings from operational offshore and onshore wind farms saw a 14% increase in 2020, driven by the ramp-up of power generation from the Hornsea One and Borssele 1&2 projects, amongst others. In its annual report for 2020, Ørsted states that the earnings from wind farms in operation increas
Sparrows lands five-year contract renewal in North Sea
Sparrows Group has been awarded a five-year contract renewal with a UKCS operator to continue supporting its production across two assets.
TMC to supply compressors for Equinor’s Bacalhau FPSO
Norwegian TMC Compressors has been contracted to supply the marine compressed air system to the Bacalhau FPSO that is being built for Equinor.
SMM Digital: Redundancies in European shipbuilding sector set to increase
The shipbuilding industry has been hit hard by the impact of the coronavirus pandemic quashing shipowners’ interest in investing in new ships. The pandemic crushed down on an already battered industry suffering from overcapacity, weak demand, and flat world trade growth. The European shipbuilding se
GE expanding factory in France to house Haliade-X nacelle assembly
GE Renewable Energy is expanding its wind turbine nacelle factory in Montoir-de-Bretagne in France to accommodate the assembly of nacelles for the Haliade-X offshore wind turbines. The wind turbine supplier has awarded a consortium of VINCI Construction France’s subsidiaries with a contract for the
Maersk Supply Service gets new CFO
Danish offshore vessel provider Maersk Supply Service has named a new chief financial officer (CFO) of the company with effect from 15 March 2021.
Polarcus fleet up for sale – all employees face layoffs
Seismic player Polarcus has received notification from the lenders that they no longer support the continuation of the company’s operations. Following the recent loan default, Polarcus’ lenders took control of its vessels and shipholding unit and also replaced the directors of its subsidiaries contr
Depressed demand drags BP profit down
BP recorded a significant decrease in its quarterly profit due to lower demand, exploration write-offs, and lower oil and gas prices
SCA to develop new container port, cargo handling areas in Tunadal
Swedish forest products company SCA revealed plans to invest approximately SEK 460 million (about $54.7 million) in Tunadal port between 2021 and 2024.
End of role for MMH CEO
MMH Malta, a port facility and provider of services for offshore drilling rigs, has revealed that its CEO has come to an end of his role in the company.
Hapag-Lloyd CEO: Charter ship market is basically sold out
The unexpected demand recovery in the container shipping sector driven primarily by the US-based demand surge has seen the charter market depleted of available capacity. Furthermore, the demand upturn has lead to increasing delays and heavy port congestion. impacting schedule reliability. “Labor sho