Dutch subsea and survey specialist Fugro has posted net loss of €160 million for the year 2017, against net loss of €309 million in 2016. The company’s revenue, however, fell close to 16 per cent from €1.77 billion in 2016 to €1.5 billion in 2017. Fugro’s marine division, with revenue at €947 millio
Norwegian seabed seismic services player Magseis has signed a Letter of Intent (LoI) for a lease contract of its proprietary MASS nodes. Magseis will mobilize a fully containerized handling system (MASS Modular) and field technicians for the project in North East Asia, the company informed. The dura
TechnipFMC has reported fourth-quarter 2017 net loss of $154 million or 33 cents per diluted share. One of the industry majors has booked quarterly after-tax charges and credits of close to $245 million or 53 cents per share. This came down to adjusted earnings of 20 cents per share during Q4 2017.
Rotech Subsea is set to deploy a new RS1 excavation tool for the recently secured harbour clearance work scope in UK. The RS1 excavation tool has been specially adapted by the Aberdeen group’s on-site fabrication unit, Rotech Fabrication, to meet demand from Port Authorities for excavating difficult
EMARQ, a wholly-owned Canadian subsidiary of Ocean Renewable Power Company (ORPC), is recruiting for a project manager to oversee the development of marine renewable energy projects in Canada.
Houston-based McDermott posted quarterly profit of $25.5 million, or 9 cents per fully diluted share, compared to $500K loss in the fourth quarter 2016. McDermott’s result for the full-year 2017 was profit of $178.5 million or 63 cents diluted EPS, versus $34 million profit of 12 cents per diluted s
UK-based oil giant BP has predicted renewables to be the fastest-growing fuel source, increasing five-fold and providing around 14% of primary energy through to 2040.
WFN Strategies has received a contract by Kativik Regional Government, Canada, to provide cable route survey for the proposed Eastern Arctic Undersea Fibre Optic Network (EAUFON) submarine telecoms cable system. EAUFON is a planned submarine cable with landing points at multiple communities in Canad
CorPower Ocean is looking to expand its team with two new job openings as the company gears up to enter its next stage with the development of full-scale wave energy converter.
Fugro has been awarded a contract by Guangzhou Marine Geological Survey (GMGS) for gas hydrate research on the northern continental slope of the South China Sea. The contract is valued at approximately $40 million and the project is expected to start in the second quarter of 2018. This is the fifth
The North Wales-based software company Papertrail, a provider of cloud-based inspection management and data capture technology for the wind energy industry, has informed that it won several new contracts last year and that it sees further growth as its platform is being used increasingly for operati
North East offshore specialist Flexible Engineered Solutions (FES) is creating 20 new jobs after opening a new manufacturing facility. Ashington-based FES has delivered a boost to its 50-strong workforce after investing in a new 25,000 sqft manufacturing facility in Cramlington, which will also beco
Cape Sharp Tidal is preparing to deploy the second of the two 2MW tidal turbines this summer at the Fundy Ocean Research Center for Energy (FORCE) test site in the Bay of Fundy.
Swedish developer Minesto has raised $8.95 million (SEK 72.5 million) in a share rights issue that will be used to support the company’s upcoming tidal energy activities.
