Business & Finance
EU Launches EUR 75 Mn BlueInvest Fund to Boost Innovation
The EC and EIF launch the BlueInvest Fund in an effort to support innovations in the maritime sector.
NGO Shipbreaking Platform: Shipping Companies Still Favor the Worst Scrapyards
A total of 674 ocean-going commercial ships and offshore units were sold to the scrapyards in 2019.
Osbit Well Intervention Package for FTAI Ocean
UK-based offshore technology firm Osbit has won a contract by FTAI Ocean to design and build a well intervention tower system. The so-called ‘smart tower system’ is to be installed on FTAI’s vessel M/V Pride and facilitates integrated riserless and riser-based well intervention operations in water d
Two Damen Cutter Suction Dredgers Shipped to Mexico
Damen Shipyards recently delivered two new dredgers to the Mexican Navy, among which is the cutter suction dredger (CSD) 650 ARM Laguna Morelos (ADR-19). Following the delivery, the company congratulated the Mexican Navy for the flagging and entering into service the new vessels. The dredger will un
Coconut Charcoal the Likely Cause of Yantian Express Fire
Coconut charcoal has been identified as the likely cause of last year’s fire on board the containership Yantian Express.
Dredge Yard Delivers ECO 300 to Sri Lanka
Dredge Yard and their sole agent in Sri Lanka recently won an order for a standard cutter dredger (CSD) ECO 300. The order was placed in the last quarter of 2019 and earlier this month, the dredger was successfully delivered to Colombo, Sri Lanka. The company said in its latest announcement that the
BP profit down on weaker oil and gas prices
Oil major BP saw its quarterly profit drop amid weaker environment despite higher production during the period.
Ocean Infinity Launches Armada
Ocean Infinity has established a new marine technology and data company – Armada. Armada will initially add fifteen marine robots to Ocean Infinity’s current fleet of autonomous underwater vehicles. According to Ocean Infinity, each unmanned surface robot will serve a wide range of industries by bei
Klaipedos Nafta to Operate LNG Terminal in Brazil
Lithuanian company AB Klaipedos Nafta has been appointed as the operator of an LNG terminal in the Brazilian Port of Açu.
DeepOcean Set for Feethams House Move
Subsea services company DeepOcean said it will relocate its existing UK base in Darlington to the new Feethams House development. Employing over 100 specialists in the town, DeepOcean expects the move to happen in the coming months. The company also has a centre of engineering expertise and offshore
Vopak Offloads Algeciras Terminal
Dutch tank storage company Royal Vopak has completed the divestment of its oil terminal in Algeciras in Spain.
Osbit hired to build new well intervention system
UK-based offshore engineering company Osbit has been awarded a contract to design and construct a new well intervention tower system.
RockRose buys Cotton gas field in North Sea
RockRose Energy has signed a sales and purchase agreement to acquire a 100% of the equity of Speedwell Energy, the holder of 100% interest in the Cotton gas field in the UK sector of the Southern North Sea.
Kongsberg Sells Hydroid to Huntington Ingalls Industries
Kongsberg Maritime has signed an agreement to sell its US-based underwater technology company Hydroid for USD 350 million to Huntington Ingalls Industries (HII). Back in 2007, Kongsberg Maritime acquired Hydroid for USD 80 million. “Kongsberg Maritime has driven technology development and created co