Operations & Maintenance
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.
‘WIND’ Drops By Port of Oostende on Its Way to Belwind OWF
This morning, the jack-up vessel WIND arrived at the Port of Oostende for the first time, where it will pick up parts for the Belwind offshore wind farm. The vessel is carrying out maintenance work on Belwind. The Belwind offshore wind farm comprises fifty five Vestas’ V90-3.0MW (MHI Vestas Offshore
Saipem Goes to Court with Shareholders
Italian contractor Saipem has received notice of legal proceedings before the Court of Milan by 64 investors claiming compensation for damages of approximately EUR 174 million allegedly incurred following the purchase of Saipem shares in the period between 13 February 2012 and 14 June 2013. Namely,
Bourbon Revenue Up on Forex Gains
French vessel owner and provider of marine and subsea services, Bourbon, has booked a rise in revenues for the first quarter of the year backed by favorable foreign exchange rate environment. Bourbon generated $422 million (€383.6 million) over the three months to March 31, up 15% compared to the $3
Wello extends contract with EMEC for Penguin testing
Finnish wave energy developer Wello Oy is extending its testing programme at the European Marine Energy Centre (EMEC) in Orkney with signing of one year extension to their original contract. The 1 MW Penguin wave energy converter has been undergoing testing in Orkney since June 2011, and was first d
Eni Starts Second West Hub Field in Angola
Eni started production two weeks ahead of schedule at the Cinguvu oil field, from the West Hub Development Project in Block 15/06 in the Angolan Deep Offshore, approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo. The start-up follows the achievement of West Hub’s first o
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
Wello Continues Penguin Trials at EMEC
Finnish wave energy developer Wello Oy is extending its testing programme at the European Marine Energy Centre (EMEC) in Orkney having signed a one year extension to their original contract. Their 1MW Penguin wave energy converter has been undergoing testing in Orkney since June 2011, and was first
ABB to Service Lynn and Inner Dowsing Offshore Wind Farm
ABB has secured an electrical services contract for the 194MW Lynn and Inner Dowsing offshore wind farm in the east of England. The Swiss company will undertake maintenance of 54, 3.6 MW offshore wind turbine generators, as well as the electrical equipment over the period of two years. The contract
Jobs Lost as X-Subsea UK Goes Under
Aberdeen-based subsea dredging and excavation specialist, X-Subsea UK Holding and its subsidiaries, have entered into Administration on April 27, 2015 following the collapse of wider Norwegian-based parent group. The company informed that Alexander Iain Fraser and Thomas Campbell MacLennan from FRP
Hetzner Online Buys into Germany-Finland Subsea Link
German web hosting company and data center operator, Hetzner Online, is investing in a 1,100 km long deep sea cable from Rostock to the capital of Finland, Helsinki. The fiber-optic link is expected to be put into operation in the spring of 2016. Preparations for cable system implementation have sta
Kleven Gets Green Light for De Beers’ Newbuild
De Beers Marine Namibia, part of diamond company De Beers Group, has lifted all subjects, thus confirming its contract with Norwegian ship builder Kleven on the building of a highly specialised vessel for deep water mineral exploration. The contract was initially announced in October 2014, but sub