Business & Finance
Flex LNG posts loss due to weak market
Norway-based Flex LNG logged a net loss of $6.7 million in the second quarter as the Covid-19 pandemic continues to affect the shipping market. The net loss grew when compared to $3.9 million last year but shrank looking at the previous quarter when the firm logged a $14.9 million loss. Vessel opera
Equinor hires Odfjell rig for three more wells
Norwegian oil major Equinor has chosen to use Odfjell Drilling’s Deepsea Atlantic semi-submersible drilling rig offshore Norway.
Bombora makes two new senior appointments
Wave energy technology pioneer, Bombora, has recruited Rembrandt Niessen as chief commercial officer and James Thadchanamoorthy as chief financial officer. The Pembroke Dock based marine energy company is strengthening its team to bolster in-house commercial capability, resource, and focus. With the
Kongsberg Maritime to convert Island Offshore PSV trio to hybrid power
Norwegian offshore shipping company Island Offshore has awarded a contract to Kongsberg Maritime to supply turnkey hybrid battery solutions for three of its platform supply vessels.
Golden Ocean joins Getting to Zero Coalition
Dry bulk shipping major Golden Ocean Group Limited (GOGL) has become a member of the Getting to Zero Coalition, a powerful industry alliance committed to accelerating maritime shipping’s decarbonization. The ambition of the coalition, which has over 110 company members, is to have commercially viabl
TORM fits 40 of 49 planned scrubbers as it books strongest H1 since 2008
Danish carrier of refined oil products TORM has installed 40 scrubbers on its ships from the planned 49, the company revealed in its business report. TORM added that of the remaining nine installations, five are expected to be conducted in the third quarter this year, one in the fourth quarter this
Danske Commodities signs PPA for world’s largest offshore wind farm
Danske Commodities has signed a 15-year power purchase agreement (PPA) for the Dogger Bank offshore wind project in the UK. Under the agreement, Danske Commodities will be responsible for the trading and balancing of 480 MW of the project’s 3.6 GW capacity. “The Dogger Bank PPA is a great addition t
EIT InnoEnergy warrant program in Minesto complete
A warrant program in Minesto aimed at the European investor EIT InnoEnergy has been completed. A total of 8,513,595 shares were subscribed for in Minesto through the warrant program. Through investments totaling EUR 5.5 million during the years 2015–2018, EIT InnoEnergy has received a total of 8,513
Hapag-Lloyd’s profit rises despite lower volumes
Despite the negative effects of the COVID-19 pandemic, German container shipping company Hapag-Lloyd closed the first six months of this year with a profit.
PGS rejects TGS’ offer to buy its multi-client data library
PGS has rejected an offer from TGS-NOPEC Geophysical Company whereby TGS proposed to acquire multi-client data library of PGS. PGS board of directors is of the view that the value of the company’s multi-client data library is significantly greater to PGS than that represented by the TGS proposal, an
Shell updating interpretation of North Sea prospect following delivery of new seismic data
Shell has delivered the processed 3D seismic data over the Pensacola Zechstein Reef prospect located in the UK sector of the Southern North Sea.
Norwegian operator gets rid of two vessels
DOF, a Norwegian offshore vessel operator, has sold two of its vessels, one to an unnamed buyer and the other to a recycling yard in Turkey.
Wintershall Dea wraps up drilling phase at Dvalin ahead of first gas
Drilling has been completed on the Wintershall Dea’s Dvalin field in the Norwegian Sea, propelling the project into the final development phase before first gas. Wintershall Dea said on Wednesday that, overcoming severe weather conditions at the beginning of the year and avoiding any impact of the C
Rystad: OFS industry to see lowest headcount in over a decade as Covid-19 pushes firms into cost-cutting mode
A Rystad Energy analysis of the top 50 OFS firms shows that staffing is set to reach its lowest level in more than 10 years.