Business & Finance
GC Rieber in fleet management deal with OSM
Oslo-listed GC Rieber Shipping and OSM Maritime Group (OSM) have entered into an agreement for fleet management services. Specifically, the deal includes business transfer from GC Rieber to OSM of all technical, crewing and support functions in Bergen. OSM will also establish a new wholly-owned ship
World’s largest offshore wind project woos tier 2 contractors
Dogger Bank Wind Farm and its tier 1 contractors are holding a series of supply chain webinars for the 3.6 GW offshore wind project. The webinars will focus on introducing the Dogger Bank wind farm development and the tier 1 contractors, and will showcase the opportunities the project offers with a
Green hydrogen could bring UK £ 320 billion by 2050 – Report
Development of an indigenous green hydrogen industry could generate £ 320 billion for the UK economy and sustain up to 120,000 jobs by 2050, a new report finds. The Offshore Wind and Hydrogen: Solving the Integration Challenge Report was released by the Offshore Wind Industry Council (OWIC) and the
Barrier deficiencies force Equinor to drill fresh Martin Linge wells
Equinor has decided to drill new wells on its operated Martin Linge field, located offshore Norway, due to barrier deficiencies discovered in previous wells.
South Tyneside getting offshore energy manufacturing zone
South Tyneside Council has secured almost £500,000 to develop a manufacturing zone for the offshore energy sector. Coming from the UK Government’s Local Growth Fund through the North East Local Enterprise Partnership (LEP), the funding will be used to support high growth businesses in the advanced m
Reygar and CrewSmart team up for HST CTVs
Reygar and CrewSmart are collaborating to provide an integrated system for High Speed Transfers’ (HST) crew transfer vessels (CTVs). According to HST COO Christopher Monan, HST has commissioned an integrated system to deliver complete oversight over its fleet and personnel compliance, as well as to
Two new appointments for OTAQ
Underwater tech company OTAQ has appointed two key figures as it eyes to grow turnover to £50 million by 2025. Chris Hyde steps into the role of chief technical officer having filled the position of chief commercial officer since 2015. Furthermore, Maurice Coull has joined the marine technology comp
Motive Offshore hails renewables boost
Subsea equipment specialist Motive Offshore has reported a successful first half of the year, despite the effects of the global pandemic. In addition to completion of pre-COVID project awards, the company has won a number of contracts during the past five months. These awards should set to see the B
J&S Subsea seals management buyout
The Aberdeen-based subsea controls engineering division of SEA, a subsidiary of technology group Cohort, has undergone a management buyout as it looks to grow its core business in the North Sea. Since the divestment completed, the company has reverted to a new version of its original trading name, J
CMA CGM boosts profitability despite volume slowdown
During the second quarter of this year, French container shipping major CMA CGM improved profitability in all its business activities despite challenges related to COVID-19.
OFG buys CSEM capability from PGS
PGS and Ocean Floor Geophysics (OFG) have signed an agreement under which OFG has acquired the exclusive rights to use the hardware, software and intellectual property associated with the PGS towed streamer CSEM system. Oslo-listed PGS receives shares in Canada-based OFG as settlement for the transa
Borr Drilling hit with fresh NYSE listing warning
Offshore drilling contractor Borr Drilling has received its second continued listing standard warning from the New York Stock Exchange (NYSE) in a span of three months.
Shell to supply Hungary with LNG via Croatian FSRU
Anglo-Dutch energy giant Shell has signed a supply deal with Hungary to supply the nation with LNG via the upcoming Croatian Krk import terminal. Under the deal, Hungary will buy 250 million cubic metres of gas equivalent per annum for a period of six years, Foreign Affairs Minister Peter Szijjarto
Tiedemann: New wave of containership orders likely
The outbreak of the Coronavirus pandemic has basically put a brake on investments in the shipbuilding sector, especially on the container shipping side, as many owners shelved their newbuilding plans for better days. Instead of plotting fleet expansion plans, liner companies have had to save liquidi