Subsea
EMGS Narrows Losses
Norwegian geophysical services company EMGS posted loss for the second-quarter 2017 of $3.6 million, improving from $11.2 million loss in the same period last year. The Oslo-listed company generated revenues of $10.6 million in the second quarter 2017, down from $15.1 million in the corresponding pe
Oceanteam Wins Long-Term Turntable Contract
Oceanteam Solutions has been awarded a long-term contract to supply a company that performs the installation of marine power cables with a 2000T demountable turntable including engineering and personnel services. The mobilisation and demobilisation of the equipment onto client’s vessel will take pla
PGS Cuts Deficit as Revenues Rise 31%
Norwegian seismic player, Petroleum Geo-Services (PGS), reported net loss for the second quarter ended June 30, 2017 of $32 million versus $52 million in the prior-year quarter. Basic loss was 10 cents per share, narrowed from 22 cents per share same time last year. PGS generated revenues of $240 mi
Ecosse Subsea Eyes New Carousel Orders
Ecosse Subsea Systems (ESS) has designed, built and delivered a 700Te carousel to an international infrastructure group. The 700Te carousel designed with the capacity to be upgraded to 1700Te will be used for the storage of cables required for UK offshore wind farm projects. The design and project m
Acta Marine CSV-120 On Track for Q1 2018 Delivery
Acta Marine’s newbuild Ulstein SX195 walk to work vessel’s hull construction passed the halfway mark this week at Crist shipyard in Poland. The company ordered the 120 PoB walk to work construction support vessel in January of this year and intends to use the vessel in addition to its existing CSV A
TechnipFMC Reports Q2 EPS at $0.35
TechnipFMC has reported second-quarter 2017 net income of $146.9 million and diluted earnings per share of $0.35. Excluding charges and credits, adjusted diluted earnings per share were $0.45. Total company operating profit was $439.6 million, with adjusted EBITDA at $501.3 million. Revenues for the
Oceaneering Posts Fall in Profits
Subsea engineering specialist Oceaneering has reported profit of $2.1 million, or 2 cents per share, on revenue of $515 million for the three months ended June 30, 2017. During the corresponding period in 2016, the company reported net income of $22.3 million, or $0.23 per share, on revenue of $625.
Bourbon Sets Up FLOATGEN Mooring System
Bourbon has completed the mooring installation of the first floating wind turbine in France for Ecole Centrale de Nantes (ECN) as part of the European project FLOATGEN at the SEM-REV experimental test site, off Le Croisic. FLOATGEN is a wind turbine with concrete float designed by Ideol and currentl
MPM Upgrades Its Subsea Survey System
Marine Project Management (MPM) said it has enhanced its underwater facility cathodic protection (CP) survey system to include pipeline and structure UWI/UWILD integrity management features. Interfaced with most ROV systems, the system is being rebranded as the ‘Subsea Integrity Management System’ (
SMST Subsea Cranes for Vroon’s Newbuilds
SMST has delivered its 50t subsea knuckle boom crane with active heave compensation to Vroon for its newbuild vessel VOS Start. This crane for VOS Start and the identical crane for sister vessel VOS Stone are the fifth and sixth offshore cranes SMST delivers to Vroon. The 80m VOS Start arrived at Da
Jan De Nul Starts Borkum Riffgrund 2 Scour Protection Job
Jan De Nul’s fall pipe vessel Simon Stevin has arrived at the Visnes Eklogitt quarry in Norway to load and transport the first batch of 32,000 tonnes of rock to the Borkum Riffgrund 2 offshore wind farm, where it will install scour protection layers onto the seabed for the 36 wind turbine foundation
Singapore Court Orders Winding Up of Lewek Champion
The High Court of Singapore has issued a winding up order against Lewek Champion, Emas Offshore’s subsidiary. In addition, Andrew Grimmett and Lim Loo Khoon, both of Deloitte & Touche LLP, have been appointed as joint and several liquidators of Lewek Champion. In March this year, Hai Jiang 1401, the
TechnipFMC Reveals Mistake in Q1 Figures
TechnipFMC has informed that is financial statements for the three months ended March 31, 2017 should no longer be relied upon because of material errors in such financial statements. The quarterly adjustment was released just two days before TechnipFMC should report figures for the second quarter 2
Karoon Takes Echidna to FEED Stage
Karoon Gas Australia approved the development concept for the Echidna light oil discovery, progressing the project to the next phase in the development, front-end engineering and design (FEED). This development milestone is a result of 18 months of subsurface evaluation including reservoir modelling