Operations & Maintenance
Vard Could Be Stuck with Harkand’s Newbuild
Following the financial crash of Harkand Group, that saw four charter deals terminated and over 170 jobs lost, it remains to be seen what the future holds for the newbuild DP3 dive support vessel the Harkand Haldane, which was scheduled for delivery in Q2 2016. Namely, the vessel is in an advanced s
Seatricity all set for Oceanus 2 deployment
Falmouth-based wave energy developer, Seatricity, is waiting for suitable weather conditions to redeploy Oceanus 2 wave energy converter off Cornwall, following the completion of the refitting operations on the device.
Siem Cancels Harkand Vessel Deal
Norwegian shipowner Siem Offshore has terminated the charter party for the offshore subsea construction vessel (OSCV) Siem Spearfish, due to non-performance of the charterer’s obligation, the company said on Monday. In November 2013, Harkand had entered into a charter agreement with Siem Offshore fo
COBRA Cable Gets Green Light
Dutch Tennet and its Danish partner Energinet.dk have received all the necessary approvals for the construction of COBRA subsea cable. The COpenhagen-BRussels-Amsterdam (COBRA) cable, with a length of 300 km, will directly link Eemshaven in the Netherlands to Endrup in Denmark. The approval for the
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (May 02 – May 08). IMR and light construction player Harkand has entered into administration after it, earlier this year, defaulted on the payment of its senior secured bond issue and interest, due to
Northern HeliCopter Nets Global Tech I Crew Transfer Deal
Emden-based Northern HeliCopter GmbH (NHC) has won a contract to transport crews working on the 400MW Global Tech I far shore wind farm in the German Bight. NHC, an ambulance and air rescue services specialist, has bought an Airbus H155 helicopter specifically for providing the new service. Crew cha
Harkand North America and Africa to Relaunch as Ethos Offshore
A team led by AJ Jain, Harkand North America managing director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named Ethos Offshore Ltd, will continue to provide subsea engineering and construction services to Harkand’s existing US, M
More than 170 Jobs Lost as Harkand Goes Under
Over 170 employees will have to go as Harkand’s European business (based in Hammersmith and Aberdeen) is to be wound down by Deloitte’s Joint Administrators, appointed on May 4, 2016. According to Deloitte, 39 staff will be retained for a short period to assist with the wind-down of the European bus
Harkand Plunges into Administration
IMR and light construction player Harkand has entered into administration after it, earlier this year, defaulted on the payment of its senior secured bond issue and interest, due to insufficient liquidity. As a consequence of default, Nordic Trustee, which acts as bond trustee for the bond issue whe
Photo of the Day: Cyberhawk and Eden Rose Prove Their Mettle on Dogger Bank
Forewind has used its latest operations and maintenance trip to the meteorological masts on Dogger Bank to trial new technology and methodology. The trip enabled aerial inspection and survey contractor Cyberhawk to utilise a new advanced camera technology to inspect the overall status of the met mas
Westcon Clinches Statoil Subsea Maintenance Deal
Westcon has been awarded a maintenance contract for subsea tools and equipment at all Statoil base locations in Norway. The scope of the agreement is maintenance and overhaul of defined parts of the subsea equipment Statoil has at its bases, in addition to an option for extension of the scope both o
Subsea in April
Subsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month. Tragic incident struck Aker Solutions after helicopter crashed with three of its employees on board on route to Bergen from the Statoil-operated Gullfaks B platfo
SeaBird Stays in Black
Oslo-listed SeaBird remained in profit at the end of the first quarter 2016, despite weak seismic demand, but still seen a major quarterly profit dive when compared to prior-year quarter. The seismic data provider for oil and gas companies posted profit of $1.8 million or $0.59 per diluted share for
Bourbon Revenues Slip
Bourbon has posted lower adjusted revenues for the quarter ended March 31, 2016 caused by the continuing market slump which led to drop of utilisation and daily rates. The French vessel owner and offshore services provider generated a total of €314.5 million in first-quarter adjusted revenues, down