Business & Finance
Infinity eyes international expansion
Engineering consultancy Infinity has announced Stephen Hamilton as regional director and green-light for the expansion of the business. Infinity has now entered London energy market, which will operate as a hub for engineering support to the international arena. This should also strengthen the Aberd
Maersk Tankers launches digital spin-off ZeroNorth
A new digital company named ZeroNorth, a spin-off from Maersk Tankers, has been established, aiming to accelerate digitalization of shipping to address CO2 emissions and boost earnings. The company is making available the software Optimise (previously known as SimBunker) to vessel owners and operato
Maersk expects Q2 earnings to beat Q1 amid favorable demand
Danish shipping major A.P. Møller – Mærsk A/S revealed that it expects an EBITDA before restructuring and integration costs for Q2 2020 slightly above the level for Q1 2020 (USD 1.5bn). The forecast is being upgraded based as demand starts to pick up better than expected, combined with cost measures
Siemens Gamesa reveals new CEO as Tacke steps down
Markus Tacke is stepping down as CEO of Siemens Gamesa, effective immediately. According to the company, the Board of Directors and Tacke mutually agreed to terminate the CEO contract. Andreas Nauen, who was head the company’s offshore activities, has been appointed the new chief with immediate effe
Neptune Energy set to spud Dugong well in North Sea
Neptune Energy will start drilling the Dugong well, located in the North Sea offshore Norway, by 19 June 2020.
ACCC: Wallenius Wilhelmsen pleads guilty to criminal cartel conduct
Norwegian-based global shipping company Wallenius Wilhelmsen Ocean AS (WWO) has today entered a guilty plea in the Federal Court to criminal cartel conduct, Australian Competition & Consumer Commission (ACCC) said. The company was charged with cartel conduct in August 2019 regarding the transportati
Container shipping: Defying the odds during the pandemic?
The massive consolidation drive in the container shipping market that dominated the narrative over the past four years seems to have brought about unexpected benefits during the coronavirus crisis. The driving force behind the phenomenon has been primarily achieving economies of scale, especially co
Equinor gets drilling permit for two North Sea wells
The Norwegian Petroleum Directorate has granted Equinor a drilling permit for two wells located in the North Sea off Norway.
CIP making € 5.5 billion renewable energy infrastructure investment fund
Copenhagen Infrastructure Partners (CIP) has reached a first close on Copenhagen Infrastructure IV (CI IV) investment fund with EUR 1.5 billion. The fund, planned to be worth EUR 5.5. billion, will become the largest one within renewable energy infrastructure investments, according to the investment
SSE rolls out £7 billion green investment plan
SSE plc is planning to invest more than £7 billion over the next five years in major low-carbon construction projects to support the net-zero target and spur a green economic recovery. The plan will see SSE invest almost GBP 4 million every day for the next five years on projects, including the GBP
Aker BP picks PG Flow pump systems for new Hod platform
Norwegian oil and gas company Aker BP has awarded PG Flow Solutions a contract to supply several pump systems for the normally unmanned wellhead platform to be used at the planned Hod field development in the North Sea.
Maersk Supply Service sheds two anchor handlers due to oversupply in OSV market
Maersk Supply Service has sold two of its older AHTS vessels due to the current market situation and the global over-supply of offshore supply vessels.
Maersk Drilling enters project for CO2 storage beneath the seabed offshore Denmark
Danish offshore drilling contractor Maersk Drilling is joining a new CO2 storage consortium formed by INEOS Oil & Gas Denmark and Wintershall Dea.
Alfa Laval inks deals to deliver PureBallast 3 to about 40 vessels
Swedish engineering group Alfa Laval, specializing in heat transfer, centrifugal separation and fluid handling, has signed two frame agreements, running over the coming three years, for ballast water treatment systems. The company said the deals comprise firm orders to deliver Alfa Laval PureBallast