Business & Finance
Growth in shallow-water drilling set to continue in 2020, Borr Drilling says
Borr Drilling believes that the growth in the shallow-water drilling is set to continue in 2020. The average length of a jack-up contract has increased, supported by strong tendering activity, where Borr sees a demand for more than 40 modern jack-up rigs in various tenders across the world.
Oilfield services giant Schlumberger to abandon London listing
Oilfield services company Schlumberger has revealed its plans to delist from the London Stock Exchange (LSE) due to low trading volumes and high administrative costs.
Yamal LNG Ships 30 Million Tons of LNG
Yamal LNG has shipped its thirty millionth ton of LNG since the commencement of the project.
Liners, Terminal Operators to Become Shareholders of Global Shipping Business Network
Nine ocean carriers and terminal operators have signed a shareholders’ agreement.
Orca Oceanic Systems Welcomes New BD Director
Orca Oceanic Systems (OOS) has appointed Stuart Forsyth as its new business development director. Forsyth takes on his new role to spearhead the growth of OOS as he brings with him more than 20 years of experience in the oil and gas industry encompassing both technical and commercial roles. “I am ex
Polarcus Posts Shrinking Losses, Growing Sales in 2019
Marine seismic player Polarcus has cut its deficit in 2019 as improved market boosted the company’s revenues by 44 percent against 2018. The Oslo-listed company reported loss for the 2019 of $10 million, on revenues of $290.6 million, versus loss of close to $32 million and revenues of $202.2 millio
Odfjell Drilling posts smaller profit despite higher revenues
Odfjell Drilling posted a decrease in quarterly profit despite increase in revenues driven by mobile offshore drilling units segment.
Kobelco Unveils New Generation of Excavators
Kobelco Construction Machinery Europe B.V. (KCME) has announced the arrival of the SK140SRLC-7 – a 14-tonne excavator that delivers enhanced efficiency and productivity through harmonization of mechanical power, operation speed and overall machine design. The SK140SRLC-7 is of a new generation of ex
Poles Target Offshore Wind Development Declaration
The Polish Wind Energy Association (PWEA) and the Polish Offshore Wind Energy Society (PTMEW) have established a cooperation to support the development of the offshore wind sector in Poland. The aim of the collaboration is to establish a multilateral Declaration of Cooperation for Polish Offshore Wi
Tasmania’s TT-Line Picks New Builder for Ferry Pair
Rauma Marine Constructions has been selected to build TT-Line Company’s Spirit of Tasmania ships.
Frontline Bets on Strong Market Rebound once Coronavirus is Contained
Frontline posted the highest quarterly net income in more than eleven years.
Ørsted Hails First Borssele 1 & 2 Inter-Array Link
Danish developer Ørsted has seen the first inter-array cable set up at its Borssele 1 & 2 offshore wind complex in the Netherlands. Borssele 1 and 2 are located around 23 kilometers off the Dutch coast in 14 to 36 meters of water. The dutch offshore contractor Van Oord is responsible for the transpo
Finnlines Reports Stable Result Despite Lower Volumes
Last year was profitable for Grimaldi’s Finnlines despite a decline in cargo volumes.
Rosmorport to Complete NOVATEK Dredging by April 2021
FSUE Rosmorport is set to complete dredging works under NOVATEK’s project on construction of a transshipment facility in Petropavlovsk-Kamchatsky by April 2021. This information was revealed yesterday by Rosmorport General Director, Andrey Lavrishchev, at the 3rd International Congress “Hydraulic En