Business & Finance
Ideol and Scottish port pen floating wind agreement
The France-headquartered Ideol has signed a Letter of Intent (LoI) with the Port of Cromarty Firth in Scotland to cooperate for the floating offshore wind sector. The agreement will see Ideol and its future local construction partners use the port’s land and firth berthing sites and cooperate toward
Maersk delivers strong Q3 result, raises 2020 guidance
Danish container shipping major A.P. Moller – Maersk managed to grow earnings and cash flow in the third quarter of this year, despite the negative effect on global economies of the COVID-19 pandemic.
Equinor to boost Johan Sverdrup output
Equinor’s Johan Sverdrup field is increasing its daily production capacity, expecting to reach around 500,000 barrels of oil per day by the end of the year.
Global upstream M&A deals to gain momentum for the rest of 2020?
Following the Covid-19 pandemic and the oil price crash in early 2020, for some players in the oil and gas sector consolidation may be the only way to stay solvent.
Norwegians and Japanese ink offshore wind MoU
The Japanese Kiso-Jiban Consultants (KJC) and the Norwegian Geotechnical Institute (NGI) have signed a Memorandum of Understanding (MoU) for offshore wind energy in Japan. The two parties plan to jointly undertake work related to geotechnical investigations, site characterization and foundation desi
Fred. Olsen and Hafslund Eco come together for Norway’s offshore wind
Fred. Olsen Renewables (FORAS) and Hafslund Eco have entered into an agreement to collaborate for the offshore wind sector in Norway. FORAS and Hafslund Eco plan to jointly submit a pre-application for the development of offshore wind projects at the Sørlige Nordsjø and Utsira Nord areas. According
CDB Leasing splashes $137 million on Oldendorff’s sextet
Hong Kong-listed China Development Bank Financial Leasing is buying six vessels from German shipowner Oldendorff Carriers GmbH & Co for $137 million. The vessels include six 60,000-ton bulkers, CDB Leasing said, adding that upon the completion of the transaction the vessels would be leased back to O
Scorpio Bulkers nets $101.5 million as it kicks up a notch its bulker selling spree
Scorpio Bulkers Inc. has entered into agreements with two unaffiliated third parties to sell five Kamsarmax bulkers for a total of $101.5 million. The ships that will be changing hands are the SBI Parapara, SBI Jive, SBI Swing and SBI Mazurka, Kamsarmax bulk carriers built in 2017, and SBI Reggae, a
Nord Pool exchange to offer new North Sea Link capacity
European power exchange Nord Pool has won a contract by National Grid and Statnett to deliver a solution outside of the Internal Energy Market (IEM) to provide implicit capacity in its day ahead market for the 1,400 MW North Sea Link (NSL). NSL, a joint venture between National Grid and Statnett, wi
New European coalition targets more sustainable offshore wind development
Eighteen offshore wind companies, transmission system operators and environmental NGOs have launched a new coalition dedicated to ensuring that Europe delivers its planned expansion of offshore wind energy while preserving nature and marine ecosystems. The aim of the Offshore Energy and Nature Coali
SBM Offshore orders electrical cables for Mero 2 FPSO
Marine and offshore electrical cables manufacturer CCI CableService has been awarded a contract by SBM Offshore for the supply of cables for the new FPSO Sepetiba set for the Mero 2 project.
EU adds 4 more ship-recycling facilities to its list as UK yards face Brexit-related removal
The European Commission has added new yards to the European List of ship recycling facilities suitable for the dismantling of EU-flagged vessels in an environmentally-friendly way. These include two European yards and two more yards in Turkey. “With the addition of these new yards, ship owners of EU
Equinor makes corporate structure changes
Norwegian oil major Equinor has made changes in the corporate structure and the corporate executive committee.
DSME wins $652 million deal to build 6 ULCVs
South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) has inked a deal to build six containerships for an undisclosed European shipowner. The contract is worth $652 million (KRW 722.6 billion), the shipbuilder disclosed in a regulatory filing. The containerships are sched