Business & Finance
Norway: Ocean Installer Wins Draugen Field LoI from Shell
The Norwegian subsea entrepreneur Ocean Installer and A/S Norske Shell signed 30.03.12 a Letter of Intent to award an important contract. The contract covers EPCI (Engineering, Procurement, Construction, Installation) services in the context of A/S Norske Shell’s further development of the Draugen f
OW Bunker Announces New Operations in USA
OW Bunker, one of the world’s leading suppliers and traders of marine fuel, today announced its intention to launch new operations in the US. With an anticipated commencement date of May 2012, the move will provide the company with a complete global offering for its customers. OW Bunker already has
Norway: Ocean Installer and Norske Shell Sign LoI for Draugen Field
The Norwegian subsea entrepreneur Ocean Installer and A/S Norske Shell signed 30.03.12 a Letter of Intent to award an important contract. The contract covers EPCI (Engineering, Procurement, Construction, Installation) services in the context of A/S Norske Shell’s further development of the Draugen f
Germany: SubCtech Successfully Tests New Deep-Sea Pressure Neutral FerryBox
After intensive research and the consolidation of the markets SubCtech has succeeded in the breakthrough that they always were waiting for. With company’s know-how in deepwater engineering and ship-measuring systems, they could combine the two business divisions. SubCtech proudly announced a success
Norway: Siem Offshore Extends Charter Contract for PSV Hugin Explorer
Siem Offshore and Fugro Geo Vessels AS (“the Charterer”), a subsidiary of Fugro Norway AS, has agreed to extend the bareboat charter of the PSV “Hugin Explorer” for a period of six years. The new period commenced 1 April 2012, and the Charterer has options to extend the bareboat charter with 1+1 yea
Norway: Fugro Extends Hugin Explorer PSV Charter
Siem Offshore and Fugro Geo Vessels AS (“the Charterer”), a subsidiary of Fugro Norway AS, has agreed to extend the bareboat charter of the PSV “Hugin Explorer” for a period of six years. The new period commenced 1 April 2012, and the Charterer has options to extend the bareboat charter with 1+1 yea
USA: Cape Wind to Lower Regional Electricity Prices by USD 7.2 Billion
Cape Wind will reduce wholesale electric prices for the New England region by $7.2 billion over 25 years, according to a new report published by Charles River Associates, a leading economic consulting firm. The report shows that ISO New England, the electric grid operator, first dispatches electric
Damen Becomes New Operator of French Shiprepair Yard Sobrena
Damen Shipyards is the new operator of French shiprepair yard Sobrena. The yard will be renamed Damen Shiprepair Brest and will continue to serve the maritime and offshore industries with shiprepair and conversion services. The yard has three drydocks (up to 420 x 80 m) and will be available for rep
India: ONGC, ConocoPhillips Team Up in Quest for Hydrocarbons
Oil and Natural Gas Corporation Limited, India and ConocoPhillips, USA, two E&P majors have signed a Memorandum of Understanding (MoU) for cooperation in exploration and development of shale resources in India, North America and elsewhere besides deepwater opportunities in Eastern offshore India. At
Australia: Carnegie in Final Stage of Negotiations for CETO Location
Wave energy developer, Carnegie Wave Energy Limited, advises that it is in the final stages of negotiations over the location of its grid-connected, CETO commercial demonstration project. The Company will update the market more fully once negotiations are complete. The CETO system distinguishes itse
Chevron’s Open Letter Regarding Frade Field Incident in Brazil
Regarding the two seeps – one in November, 2011 and the second in early March, 2012 – found in the Frade oil field, in Campos Basin, offshore Brazil, Chevron (Operator of the Frade oil field) released an open letter to the public on 29 March 2012 on the major Brazilian newspapers as described below.
Greece: Diana Shipping Signs Agreement to Purchase Panamax Dry Bulk Carrier
Diana Shipping Inc., a global shipping company specializing in the ownership and operation of dry bulk vessels, on Friday, March 30, announced that it has signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to purchase from an unaffiliated third party the m/v “Mining Star”,
UK: PLA Orders Mooring Maintenance Vessel from Manor Marine
The Port of London Authority (PLA) has placed a £6 million order for a Mooring Maintenance Vessel (MMV), with MPI Services (UK) Limited, trading as Manor Marine. The contract for the MMV is the PLA’s largest single investment in over 20 years. The vessel will replace the PLA’s two salvage ships, Cro
Norway: Subsea Sector Will Double in Size, Says Oil Analyst Jarand Rystad
The subsea adventure has just begun. Within five years the subsea sector will double in size, and within twenty years the subsea production will be on par with traditional oil and gas production offshore. – In five years, the subsea market is anticipated to grow from around $30 billion to between $6