Business & Finance
Fred. Olsen enters green loans for jack-up trio
Fred. Olsen Windcarrier has entered into two new long-term non-recourse debt financing arrangements related to the Brave Tern, Bold Tern and Blue Tern jack-up vessels under its indirect ownership. In conjunction with the financing, the company established a green loan framework with an eligibility a
Costamare wraps up refinancing efforts with $140 million worth of loans
Athens-based owner and provider of containerships for charter Costamare has concluded its refinancing program launched at the beginning of this year, securing a total of over $435 million in new loans since January. The conclusion of the refinancing efforts has been marked with the execution of the
Total’s Belgian subsidiary to buy all of Rentel’s electricity
Belgian electricity and gas supplier Lampiris and Otary have approved a long-term power purchase agreement (PPA) for all of the electricity generated at the 309 MW Rentel offshore wind farm. The agreement must still be submitted for approval to the Electricity and Gas Regulation Commission (CREG). I
Awilco amends LNG pair financial covenants
Awilco LNG has agreed certain amendments to financial covenants in the sale/leaseback deals for its LNG tanker pair.
Royal Caribbean’s JV Pullmantur files for reorganisation
Cruises Investment Holding and Royal Caribbean Group (RCL) have filed for the reorganisation of their Pullmantur Cruceros joint venture under the terms of Spanish insolvency laws.
NorSea, Abnormal Load Services launch wind energy logistics company
NorSea and Abnormal Load Services (ALS) have launched a joint company to provide project and offshore supply logistics to onshore and offshore wind energy sectors. The new company, named Elevon, will also be supported by NorSea and ALS owners Wilhelmsen Group and Wallenius Wilhelmsen, respectively.
Sea Intelligence: Carriers to see $9 billion profit in 2020 if they manage to keep current rate levels
Container shipping companies’ fight to maintain freight rates high through capacity management seems to have paid off, beating forecasts on carrier profitability. The liners’ ability to adapt to the new normal through a disciplined approach to the deployment of ships comes as a surprise as dwindling
BP invests in Satelytics as part of methane reduction strategy
Oil major BP has invested $5 million in Satelytics, a geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes, including methane emissions.
Keppel starts arbitration to resolve rig dispute with Awilco
Keppel has started an arbitration process to resolve a dispute with Awilco Drilling related to a termination of a rig construction contract.
LOC scores Johan Sverdrup job with Equinor
International marine and engineering consulting firm LOC Group has been awarded a new scope of work with Norwegian oil major Equinor.
Iberdrola secures stake in eight Swedish offshore wind projects
Iberdrola has entered into an agreement with Swedish renewables company Svea Vind Offshore, which will allow the Spain-headquartered company to take a majority stake in up to eight offshore wind projects in Sweden. The eight projects are in various stages of development, with the first of them plann
TechnipFMC lands $187 million worth of new jobs with Equinor
Equinor has awarded two contracts and issued a letter of intent to TechnipFMC for pipelaying and subsea installation for three projects in Norway.
Corrected: Shell doesn’t expect Prelude FLNG restart before Q3
LNG giant Shell is not expecting to restart production at its Prelude FLNG facility offshore Western Australia before July. Shell hasn’t exported any cargoes from the FLNG for almost five months following an electrical trip on February 2. “Start-up timing will depend on Covid-19 constraints and comp
Neptune Energy to axe 400 jobs over Covid-19 and lower oil prices
Neptune Energy has decided to reshape the size of its global organisation due to the combined impact of the COVID-19 pandemic and the anticipation of lower commodity prices for a longer period of time.