Business & Finance
USA: Wartsila to Deliver LNG Propulsion System for Harvey Gulf’s New OSVs
Wärtsilä, the marine gas solutions provider, said it has been awarded a contract to deliver an integrated propulsion system for two additional LNG offshore support vessels (OSV) to Harvey Gulf International Marine. This order takes Harvey Gulf to a fleet of four LNG OSVs on order, establishing the c
USA: ION Finishes Year with Strong Results
ION Geophysical Corporation reported fourth quarter 2011 revenues of $159.9 million, compared to $158.6 million in the fourth quarter of 2010. Excluding special items ION reported fourth quarter 2011 net income of $23.2 million, or $0.15 per diluted share, compared to net income of $21.2 million, or
USA: CSI Becoming Part of FMC Technologies
FMC Technologies, Inc. has signed a definitive agreement to acquire Control Systems International, Inc. (CSI). The Houston based subsea systems specialist did not disclose details of the agreement. “The addition of CSI enhances FMC’s automation and controls technologies and supports our long-term st
USA: FMC Technologies Buys Control Systems International
FMC Technologies, Inc. announced it has signed a definitive agreement to acquire Control Systems International, Inc. (CSI). Terms of the transaction, which is subject to further due diligence and various closing conditions, were not disclosed. Founded in 1968, CSI is a leading supplier of innovative
BP Charters PSV ‘Sea Brasil’
Deep Sea Supply Plc announces that the PSV ‘Sea Brasil’ has been awarded a long term charter contract with BP Brasil for operations in Brazil. The vessel will commence the contract upon delivery from the yard in Brazil. Firm period of the contract is 3 years, with 3 x 1 year options after expiry of
BP Hires PSV ‘Sea Brasil’
Deep Sea Supply Plc announces that the PSV ‘Sea Brasil’ has been awarded a long term charter contract with BP Brasil for operations in Brazil. Firm period of the contract is 3 years, with 3 x 1 year options after expiry of the firm period. The vessel will commence the contract upon delivery from the
UK: Siemens Acquires Stake in Marine Current Turbines
Siemens has acquired the majority stake in Marine Current Turbines Ltd., the UK company based in Bristol, which develops and builds tidal power systems. “The acquisition of Marine Current Turbines is an important step forward for the Solar & Hydro Division,” said Ted Scheidegger, CEO of the Solar &
OBC Contract for RXT (Norway)
The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has received a contract award from an international oil company for an Ocean Bottom Cable survey offshore Norway. The total survey duration is expected to be 116 days and the estimated contract value is $24.5m. The survey
China: DNV Navigator for Wallem’s Fleet
Wallem Ship Management in Hong Kong has ordered DNV Navigator for its managed fleet of more than 190 ships. The contract also includes the Work and Rest Hours module allowing for compliance with international legislation on rest hours for seafarers. DNV Navigator is a dedicated decisions support too
RXT Wins Ocean Bottom Cable Survey Contract Offshore Norway
The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has received a contract award from an international oil company for an Ocean Bottom Cable survey offshore Norway. The total survey duration is expected to be 116 days and the estimated contract value is $24.5m. The survey
Norway Approves Jette Development
Det norske oljeselskap ASA has received the go-ahead to develop Jette. Today, the Norwegian authorities approved the Plan for Development and Operation (PDO) of the field, which is operated by Det norske. Jette is the company’s first field development as operator. CEO Erik Haugane states that this r
Sweden: Pallas Group Extends Charter Contract for MV Pallas Ocean
Pallas Group has through its subsidiary, Ocean Rederi AB, extended the timecharter contract with Erik Thun AB for the vessel M/V Pallas Ocean for another 12 months. The 12 month period began on l February. “We are now entering the 5th year as owner of M/V Pallas Ocean and in a bad market because of
Maersk Line Cuts Capacity on Asia – Europe Trade
Oversupply of container vessels operating on the Asia – Europe trade lane has pushed Maersk Line’s container freight rates to unsustainably low levels. In order to rationalise its service, Maersk Line is removing 9% of its vessel capacity currently operating on the Asia – Europe trade. “With this ad
UK: Angus Council Invites Tenders for Bathymetric Survey in Montrose Bay
Angus Council requires tenders for a bathymetric survey to be undertaken in Montrose Bay, United Kingdom. The survey is part of phase 3 of the Montrose Beach Environmental Development Plan, which has been undertaken to assess the impact of coastal processes and erosion in Montrose Bay. At present, m