Business & Finance
Saipem Back in Black
Italian oilfield services player Saipem has reported third-quarter 2019 profit of €30 million on revenues of €2.23 billion. This result compares to net loss of €34 million on revenues of €2.26 billion in the prior-year comparable period. Adjusted result was net profit of €31 million, against €11 mil
Funding Secured for South Withernsea Coastal Defense Scheme
A multi-million pound scheme to build coastal defenses in Withernsea has moved a step closer after East Riding of Yorkshire Council successfully secured £3 million of European funding for the project. The south Withernsea coastal defense scheme will receive funding from the European Regional Develop
EvoLogics Intros Bionic AUV
Berlin-based EvoLogics has introduced “Poggy” – a new bionic autonomous underwater vehicle (AUV) that uses Fin-Ray technology. The vehicle is being developed as part of BONUS SEAMOUNT collaborative R&D project and made its first dives at Breaking The Surface 2019 workshop in early October 2019. Nick
Better Rates, New Ships Push Costamare’s Earnings Up
Net income and earnings per share more than doubled, boosted by increased charter rates and the addition of new ships.
Equinor swings to loss on lower prices and production
Norwegian oil and gas giant Equinor slipped to a loss in the third quarter of 2019 impacted by lower prices.
TechnipFMC Sees Profit Fall Despite Revenue Increase
TechnipFMC has reported third-quarter 2019 profit of $22 million or 5 cents per diluted share. The services major has seen an 84 percent decrease compared to net profit of $137 million same time last year. The results were affected by after-tax charges and credits totaling $32.6 million of expense,
Drewry: Shipping Container Prices Drop in Challenged Market
Total shipping container production will end the year having fallen 36% compared to 2018, Drewry noted.
Ørsted Wants In On Polish Offshore Wind Action
PGE Polska Grupa Energetyczna S.A. (PGE) and Ørsted have decided to commence discussions regarding the sale of a 50% stake in two offshore wind farm projects in the Polish Baltic Sea with a total capacity of up to 2.5GW and the cooperation terms for their development. The subject of discussions will
Asian Spirit Steamship Company Adds New Feeders
The new units, Spirit of Kolkata and Spirit of Chennai, started their charter deals with Mediterranean Shipping Company.
New UK North Sea oil firm buys Endeavour Energy UK
A new player buys an interest in the Alba, Bacchus, Bittern, and Enoch fields.
West Bay Sea Defenses Complete
Vital sea defense work that will help protect West Bay from future flooding has been completed on time and on budget, reports the Dorset Council. According to the release, the £10 million coastal defense works – completed this week by the Council and the Environment Agency – will better protect 148
Yxney Maritime, Grieg Partner Up with NOx Fund to Build Digital Emissions Infrastructure
Three companies team up to develop a data-driven digital solution for automated emissions reporting.
First Subsea Guards Kincardine Cables
First Subsea has secured a contract with Spanish developer and construction company Cobra Group to provide cable protection systems (CPS) for Kincardine offshore wind farm. The company will supply eleven cable protection systems to the 50 MW floating offshore wind farm project 15 kilometers south of
Aker Solutions eyes renewable and low carbon growth
Aker Solutions aims to generate about half of its revenue from renewable or distinct low carbon solutions by 2030, according to the company’s 20/25/30 strategy.