Business & Finance
China: Xiamen Shipbuilding Holds Naming Ceremony for New Höegh’s Ship
Höegh Singapore was successfully named in a traditional and spectacular naming ceremony at Xiamen Shipbuilding Industries in Xiamen, China on 12th October 2011 Mrs. Nancy Jean DeMuro (wife of Mr Richard DeMuro, Director MP & L Ford Asia, Pacific & Africa) acted as Lady Sponsor. Other guests included
Norway: Kitron Inks Deal with Leading Supplier of Offshore Equipment
Kitron AS, a subsidiary of Kitron ASA, has signed a contract with a leading supplier of offshore equipment. The agreement covers the period 2012 to 2014. In this period the expected turnover under the contract is between NOK 200 and 300 million. Kitron already has received purchase orders under the
Brazil: DORIS Chooses Intergraph for Design of 8 Petrobras FPSO Topsides
DORIS Engenharia Ltda., the Brazilian subsidiary of France’s DORIS Engineering and a specialist in the offshore oil and gas industry, has chosen Intergraph® SmartMarine® Enterprise solutions to design the topsides of eight floating, production, storage and offloading (FPSO) units for global energy l
UK: H&W to Manufacture First Two Commercial Offshore Suction Bucket Foundations
Harland and Wolff will manufacture the first two commercial offshore suction bucket foundations (Universal Foundations) at its Belfast facilities. The contract forms part of an overall project secured by Fred. Olsen United AS with Forewind Ltd. for the construction, delivery and installation of two
France: AXSMarine Releases Enhanced Version of its Chartering Tools
AXSMarine, a shipping software company providing online chartering tools coupled with an array of in-house databases, is launching an enhanced version of its tanker software. AXSTanker, a unique and exclusive service offering reserved for tanker brokers only, has evolved to adapt to new market requi
Thailand: PTTEP 3Q Profit Down
PTT Exploration and Production Public Company Limited (PTTEP) had an operating result of the third quarter of this year close to the result of the previous quarter. The company made due preparations to deliver first natural gas from Bongkot South Field and crude oil from Montara Field next year whil
USA: Oceaneering Generates 3Q Net Income of USD 78.6 Million
Oceaneering International, Inc. today reported third quarter earnings for the period ended September 30, 2011. On revenue of $602 million, Oceaneering generated net income of $78.6 million, or $0.72 per share. These results include an $18.3 million pre-tax gain, $11.9 million after tax using an incr
Cairn Deploys Centek Itsfu in Greenland Offshore Operations
Cairn Energy PLC, the Edinburgh-based oil and gas exploration and production company, has successfully deployed Centek’s Itsfu Auto Fill Sub in drilling operations in its 2011 Greenland Drilling campaign. The Itsfu provides controlled drill string filling in one third of the time of alternative met
Mozambique: Eni Increases Mamba Gas Reserves Estimate
Eni announces that the discovery of gas made in the exploratory prospectus of Mamba South 1, Area 4 offshore Mozambique, is about 50% larger than what announced by the Company on October 20th. During deepening of the well, it encountered a new separated pool that contains a potential of up to 7.5
USA: Oceaneering Reports Record Quarterly Results
Oceaneering International, Inc. reported third quarter earnings for the period ended September 30, 2011. On revenue of $602 million, Oceaneering generated net income of $78.6 million, or $0.72 per share. These results include an $18.3 million pre-tax gain, $11.9 million after tax using an incrementa
Vattenfall Operating Profit up (UK)
Vattenfall reports an operating profit for the third quarter 2011 of SEK 4,447 million (5,829). The underlying profit has improved, and the Group delivered on its strategy of streamlining operations and consolidating its financial position. “The lower earnings for the third quarter than the correspo
Vattenfall Operating Profit up (UK)
Vattenfall reports an operating profit for the third quarter 2011 of SEK 4,447 million (5,829). The underlying profit has improved, and the Group delivered on its strategy of streamlining operations and consolidating its financial position. “The lower earnings for the third quarter than the correspo
USA: National Recovery Can Come by Sea, Says Jaxport CEO
Paul Anderson, JAXPORT CEO, testified yesterday before the U.S. House of Representatives’ Water Resources and Environment (WR&E) Subcommittee of the Transportation and Infrastructure Committee at a hearing titled: “The Economic Importance of Seaports: Is the United States Prepared for 21st Century T
Cairn Uses Centek Itsfu in Greenland Offshore Operations
Cairn Energy PLC, the Edinburgh-based oil and gas exploration and production company, has successfully deployed Centek’s Itsfu Auto Fill Sub in drilling operations in its 2011 Greenland Drilling campaign. The Itsfu provides controlled drill string filling in one third of the time of alternative meth