Equipment
FlexTech Secures First Contract in Southeast Asia
Flexible pipe specialist FlexTech has established its first foothold in the Southeast Asian energy market by securing a contract with an oil and gas company in Vietnam. The project involves FlexTech engineers managing the system design, manufacturing, inspection and delivery of flexibles on a major
PGS Down in Q1, Cold-Stacks Two Vessels
Oslo-listed seismic player Petroleum Geo-Services (PGS) has booked a net loss of $19.5 million for the first quarter of 2015, compared with a $4.6 million profit in the corresponding period in 2014. In the first quarter of 2015, the company recorded revenues of $251 million ( out of which $143.3 mil
Picture of the Day: DEME’s Amazone in Egypt
The New Suez Canal development program is nearing its completion and the preparations for the inauguration ceremony of the new waterway are currently underway. Head of the Suez Canal Authority Mohab Mamish recently said that the dredging works on the new waterway scheme will be finalized in July 201
Counting Down to Completion of Deep Dredge
PortMiami experienced double-digit container volume growth in March; as well as a 12 percent year to date increase for the first six months of FY 2015. In March PortMiami recorded approximately 84,000 TEUs, compared to the 73,000 TEUs moved during the same period last year, and for the first six mon
DSC Dredge Contributes to Gulf Coast Project
J.E. Borries Inc., a full-service marine construction and dredging company based on the Mississippi Gulf Coast, recently took delivery of an 8-inch Badger Class dredge by DSC Dredge, LLC. Prior to this dredge purchase, J.E. Borries had completed all of its dredging work by mechanical means, using a
Hydrex Crops Propellers in South Korea
Hydrex diver/technician team performed a propeller blade cropping operation on a 190-meter bulker while the vessel was at anchorage in Yeosu, South Korea. An underwater inspection revealed that all five blades were bent severely and that they also suffered cracks and dents along the trailing edges.
Lifeboat simulator installed on Prosafe’s Safe Boreas
Virtual Marine Technology, a Canadian simulation services provider, announced it has installed its first lifeboat simulator system in Norway. The simulator was installed onto Prosafe’s Safe Boreas accommodation vessel in Stavanger. The simulator system was unveiled in as an element of the vessel’s s
Bibby HydroMap Presents d’ROP (VIDEO)
Bibby HydroMap, a company involved in a range of services including hydrographic and geophysical survey, geotechnical sampling, etc, has just released a video about their innovative d’ROP system. d’ROP is a dynamic Remotely Operated Survey Platform that borrows and combines technology and operating
Kraken Sonar Nets AquaPix Order
Kraken Sonar Systems Inc. has received an order for its AquaPix® Synthetic Aperture Sonar system from international defence contractor. Over the past 60 days Kraken has received orders exceeding $1.2 million with deliveries expected in the current financial quarter, the company informed. “AquaPix® i
VIDEO: Port of Husum Dredging Program
Koninklijke Smals, a Dutch company involved in hydraulic and civil-engineering works, has released a video about their dredging and remediation project in Port of Husum, one of Germany’s seaports along the North Sea coast. Husum is famous for its tourism, HDR Shipyard and Senvion, one of Europe’s le
KBR hikes profit in 1Q 2015
KBR, Inc., a global technology, engineering, procurement and construction company, has reported an increase in its Q1 2015 profit. Net income attributable to KBR was $44 million or $0.30 per diluted share in the first quarter of 2015 compared to a net loss of $43 million or a net loss of $0.29 per d
Subsea 7 Lifts Profit
Oslo-listed, Subsea 7, has seen its profits rise for the first quarter (Q1) which ended on March 31, 2015 on improved operating income and foreign currency gains. The UK-based offshore engineering company, recorded net income of $151 million in the quarter, compared to $131 million in Q1 2014. Dilut
RentOcean to Invest in Rental Equipment
Oceanteam Shipping informed that its subsidiary RentOcean has successfully signed a EUR 15 million revolving term loan facility provided by NIBC Bank N.V. According to the company’s filing to Oslo Stock Exchange, the facility matures in 3 years after the facility start date. Proceeds of drawdowns un
Aker Solutions Takes Profit Hit
Aker Solutions’ net income for the quarter fell to NOK 220 million ($28.7 million) from NOK 283 million ($37 million) in the same period last year. Earnings per share (EPS) fell to NOK 0.79 in the quarter from NOK 1.03 a year earlier. Earnings were impacted by costs of overcapacity in the maintenanc