Business & Finance
James Fisher ups outlook on better Q4
Marine services player James Fisher and Sons has upgraded its outlook on annual performance following improved results in the fourth quarter of 2020. “Whilst the fourth quarter continued to be challenging, we saw an improvement in trading over the third quarter with revenue ahead sequentially by 7 p
Odfjell to issue a sustainability-linked senior unsecured bond
Norwegian shipping and tank terminal company Odfjell SE is planning to issue a sustainability-linked NOK denominated four-year senior unsecured bond. Odfjell said that the bond issuance would follow a series of fixed income investor calls commencing January 11, 2021. The company explained that it ha
Neptune adds more work to Deepsea Yantai rig backlog
Offshore drilling contractor Odfjell Drilling has won more work for its Deepsea Yantai drilling rig from Neptune Energy for operations offshore Norway.
Norwegian offshore wind-to-hydrogen project gets financial boost
Innovation Norway has granted financial support to the Deep Purple project, which is developing a green hydrogen production system powered by offshore wind, with the hydrogen being stored on the seabed. A consortium led by TechnipFMC is working on a pilot project that will see a green hydrogen offsh
EIB nods to Arcadis Ost 1 loan
Offshore wind developer Parkwind has secured a loan from the European Investment Bank (EIB) for the construction of the 257 MW Arcadis Ost 1 wind farm. The amount approved is EUR 450 million. Located some 19 kilometres off the island of Rugen in the German Baltic Sea, Arcadis Ost 1 will comprise 27
Pioneering Spirit vessel hired to remove Morecambe platforms
Allseas’ giant heavy lift vessel, the Pioneering Spirit, will remove the DP3 and DP4 platforms from Morecambe Bay off the UK for Spirit Energy.
Tufton Oceanic reorganizes to seize growth opportunities
UK’s fund management company Tufton Oceanic has announced a deep corporate reorganisation designed to ensure further growth.
Scorpio Bulkers changing its name to Eneti
Scorpio Bulkers Inc. intends to change its name to Eneti Inc as part of its transition away from the dry bulk business towards marine-based renewable energy. “The change of the company’s name is subject to approval at an Extraordinary General Meeting to be held on February 3, 2021 for shareholders o
Ithaca adds another Repsol Sinopec man to executive team
Oil and gas company Ithaca Energy, a subsidiary of Israel’s Delek Group, has appointed David Crawford as Chief Financial Officer of the company.
Trafigura to invest up to €30 million to develop battery energy storage system
Geneva-based commodity trader Trafigura is investing up to €30 million into Belgium’s largest Battery Energy Storage Systems (BESS) at Nyrstar’s zinc smelting facility in Balen. The investment will be the first live project by Nala Renewables, Trafigura’s newly formed joint venture company with IFM
ConocoPhillips gets nod for remote operation of North Sea platform
ConocoPhillips has received consent from the Norwegian offshore safety watchdog for remote operation of a North Sea platform.
Pandion buys stake in two Norwegian offshore licences
Oil and gas company Pandion Energy has entered into an agreement with Wintershall Dea to acquire interests in two licences located offshore Norway.
Ashtead bolsters management team
Subsea services firm Ashtead Technology has appointed a chief financial officer (CFO) and five managers for newly created roles across its international team. Ashtead said the appointments underline the company’s strategic growth plans to strengthen its position in the global offshore energy market
Prosafe still working to hammer out financial solution with lenders
Prosafe is still working to resolve its financial situation with lenders but is still unclear what a final solution may look like.