Seadrill has added approximately $52 million to its backlog following the end of 3Q and is looking to manage its rig count by recycling some of its rigs.
Brussels-based industry body Ocean Energy Europe has welcomed the new European strategy for offshore renewables as an important step towards scaling up a brand-new European industry, while calling for swift, concrete implementation of the strategy’s actions.
The European Commission has presented the EU Strategy on Offshore Renewable Energy which sets a goal of reaching 40 GW of installed capacity for ocean energy, and other emerging technologies like floating wind and solar, by 2050.
The Organization of the Petroleum Exporting Countries (OPEC) has lowered its 2020 oil demand forecast to negative -9.8 million barrels a day.
Global CO2 emissions will continue to rise and track fleet growth, a new analysis by Swedish big data firm Marine Benchmark shows.
Subsea services player DeepOcean has started a restructuring process in relation to three UK subsidiaries in its Cable Laying and Trenching business (“CL&T Group”), which will enable the CL&T Group to be wound down on a solvent basis. DeepOcean 1 UK, DeepOcean Subsea Cables and Enshore Subsea have f
Danish container shipping major A.P. Moller – Maersk managed to grow earnings and cash flow in the third quarter of this year, despite the negative effect on global economies of the COVID-19 pandemic.
Following the Covid-19 pandemic and the oil price crash in early 2020, for some players in the oil and gas sector consolidation may be the only way to stay solvent.
Marine industry experts from Portugal and Canada are staging a special ‘blue economy’ conference to spark transatlantic business growth.
Rumour has it that the European Commission is considering a massive increase in installed offshore renewable energy capacity by 2050, with as much as 300 GW of offshore wind, and 60 GW of ocean energies to be in place by that time. According to media reports from Reuters and Euractiv, a draft of the
In a bid to accelerate the transition to sustainable energy production, Aker Solutions has launched a call to action urging industry, authorities, and society to work together to achieve common goals.
The rating agency Moody’s has revised its outlook for the shipping industry from negative to stable as the sector outperformed the agency’s projections for this year. The rating agency said the outlook for the global shipping industry had been negative since March 2020 coinciding with the impact of
Subsea 7 slipped into the red in the third quarter 2020 on decline in activity in the sector and costs generated by the Covid-19 pandemic. The engineering and construction specialist recognised quarterly net loss of $43 million, against profit of $42 million in Q3 2019. This brings losses since the
Global maritime trade will plunge in 2020 due to the unprecedented disruption caused by COVID-19, the United Nations Conference on Trade and Development (UNCTAD) said in a new report.
