Business & Finance
Tanker Rate Surge Drives Record ClarkSea Index Spike
VLCC rates reached USD 307,888/day last week.
Atlantis Gets Green Economy Classification
SIMEC Atlantis Energy has received the Green Economy classification newly introduced by the London Stock Exchange. The classification is for the listed companies that derive 50%+ of their activity from the Green Economy. Atlantis, a diversified energy company focusing on marine energy, waste-to-ener
Neptune Snaps Up Edison’s North Sea Assets
Neptune Energy has entered into a conditional sale and purchase agreement with Energean to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for an initial cash consideration of $250 million. The purchase is contingent on Energean completing its proposed acquisition
SPII Holdings Finalizes Acquisition of DryShips
The company continues as the surviving corporation and becomes a wholly owned subsidiary of SPII.
Godalming Flood Scheme Officially Unveiled
Properties in Godalming, Surrey, England, will be better protected from flooding thanks to a brand new flood alleviation scheme. The construction of the scheme cost approximately £4.5 million and the Environment Agency contributed approximately a third of the cost, through government grant-in-aid. G
Wärtsilä, Norsepower Team Up on Wind Propulsion Services for Shipping
Wärtsilä unveils cooperation with Norsepower, a provider of auxiliary wind propulsion systems for shipping.
First Orkney-Built Tidal Platform Hits The Water
Leask Marine has launched the Marinus platform marking the end of the InTER Project and the completion of the first ever tidal device to be built on Orkney. The two-year project, part-funded by Innovate UK and led by ITPEnergised, culminated with the deployment of the floating platform designed and
2020 Bulkers Secures Work for Another Newbuild
2020 Bulkers enters into a time charter agreement for one of its Capesize newbuilds with a subsidiary of Glencore.
Magseis Fairfield Chops Forecast
Seabed seismic services player Magseis Fairfield has lowered its guidance for 2019, in which the company now estimates revenue between USD 455-465 million and full-year EBITDA between USD 45-55 million. According to the company, adjustments for certain non-cash elements may further impact EBITDA neg
New DSC Cutter Suction Dredger for Azerbaijan
DSC Dredge, a Louisiana based company involved in customized dredging solutions, won bid for a new, non-propelled, cutter suction head dredge solicited by The Marine Design Center (MDC) of the U.S. Army Corps of Engineers (USACE) earlier this month. “When completed, the new cutter suction head dredg
Boa Offshore turns to defense sector amid instability in AHTS North Sea spot market
Norwegian offshore supply vessel owner Boa Offshore has turned its attention to the defense sector amid instability and challenges in the North Sea spot market.
MSI Supports Feed of FSRU and Pipelines at Alexandroupolis
Metocean Services International (MSI) has completed 520-day measurement programme to support feed of FSRU and pipelines at Alexandroupolis, Greece. The Alexandroupolis Independent Natural Gas System (INGS) project will supply natural gas into the Greek and Southeast European gas markets. The project
Seatec Wins ROV Control Skid Job
The Nederlands-based technical solutions provider Seatec said it has received order for design and delivery of a custom build ROV control skid. Multiple deepwater pump systems (4-off, each upto 3000msw) are being controlled by this ROV interface. The control skid consists of following main component
Readers’ Picks of the Week (October 7 – 11, 2019)
Here are the most popular news from last week.