Business & Finance
Saipem Nets Over $500 Million in Contracts
Saipem has won a number of contracts in various countries, mostly related to subsea work, worth over $500 million.
TUI Sells 50 Pct Stake in Hapag-Lloyd Cruises to Royal Caribbean
Germany’s TUI Group is to sell a 50 percent stake in Hapag-Lloyd Cruises to Royal Caribbean.
The Future of Marine Engineering (VIDEO)
Over the last 150 years marine engineering has become dramatically more efficient and effective. Royal Van Oord, a Dutch maritime contracting company, has released a video about the 8 biggest trends for 2038. According to the company, sustainability, innovation, and collaboration are key to facing g
Maersk Line Partners Up with Hamburg’s Software Company
Maersk Line is partnering with Portrix Logistic Software to integrate spot pricing into PLS’ software.
Red Ink for Aker Solutions
Norwegian services player Aker Solutions booked Q4 2019 loss of NOK 148 million, against profit of NOK 178 million in the prior-year comparable period. The result was impacted by restructuring and impairment costs as well as ‘very competitive market’ and contracts taking longer to be awarded. Loss p
Fugro Surveys i3 North Sea Assets
Dutch survey specialist Fugro has recently started a site survey in support of i3 Energy’s planned 2020 drilling program in the UK North Sea. The survey is expected to conclude during February and covers the remaining areas of Serenity and Liberator West’s Minos High structures not covered by i3’s 2
Total boosts quarterly profit despite lower price environment
French oil major Total booked an increase in quarterly profit despite a lower price environment as its production grew during the period fueled by new project startups and rampups.
Site Survey Kicks Off at Sofia Offshore Wind Farm
German developer Innogy has marked the beginning of the first phase of Sofia offshore wind farm’s six-month site investigation as the vessel Fugro Pioneer left the Port of Sunderland to survey the project’s 220-kilometre export cable corridor. As part of this phase, both geophysical and geotechnical
TOP Ships Offloads Two More Tankers
TOP Ships has entered into agreements to dispose of an MR2 tanker pair.
MacArtney Eyes Future Growth
Denmark-based subsea technology company MacArtney has announced it plans to focus on improving and strengthening the Group’s overall scalability to support future development, after reporting positively on the 2018/19 financial year. MacArtney said that its 2018/19 financials demonstrate a growing t
SES and Optimum Program in Drilling Riser Maintenance Pact
Stress Engineering Services (SES) has entered into an agreement with Optimum Program to form the RiGUARD joint venture. RiGUARD combines SES’ offshore drilling analytics expertise with the Optimum Program data-driven drilling riser maintenance program that delivers drilling riser condition-based mai
Saipem clinches new batch of offshore contracts worth $500 million
Italian oilfield contractor Saipem has been awarded several EPCI contracts in various countries around the world worth over $500 million.
Stena Line’s New E-Flexer Makes Its Irish Sea Debut
Stena Line’s newest E-Flexer ferry Stena Estrid started service on the Irish Sea route.
Equinor slips to quarterly loss due to impairment charges
Equinor’s financial performance in 4Q 2019 was impacted by lower oil and gas prices and impairments despite record production during the period.