Subsea
Red Numbers for Havyard
Havyard Group has seen its loss widen in the fourth quarter 2015 as the revenues more than halved due to slashed utilization in all of its business areas. The Norwegian vessel designer and builder has booked loss of NOK 81.8 million for the quarter, compared to loss of NOK 13.3 million in the corres
iXBlue Equips OceanGate Cyclops Submersibles
OceanGate and iXBlue have formed a strategic partnership to expand the application and use of marine navigation and sonar equipment to explore the world’s deep oceans. As part of the alliance, OceanGate has selected the iXBlue PHINS inertial navigation system for use aboard its fleet of Cyclops seri
Hydrex Patches up Tanker in Spain
Hydrex has performed a permanent insert repair on a 175-meter tanker after it suffered cavitation damage to the inside shell plating of one of its ballast water tanks. The Hydrex team sailed with a workboat and all necessary equipment to the ship which lay at anchorage in Algeciras. The divers start
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (February 22 – February 28). Offshore services player, Helix Energy Solutions, has plummeted into loss as it books some $503 million of non-cash pre-tax charges in the fourth quarter 2015. The company
Swiber Clinches South Asia EPIC Deal
Singapore-listed Swiber has secured a contract worth about US$100 million to provide engineering, procurement, installation and construction services for a National Oil Company (NOC) in South Asia. This latest project, which includes pipelines and subsea installation works, starts immediately and is
Maersk Connector Docks in UK for Carousel Setup
DeepOcean has welcomed its advanced cable installation vessel to North East England for the mobilisation of specialist cable handling equipment for projects in the offshore renewables and subsea interconnector sectors. Operated by Darlington-based DeepOcean on a long-term charter from its owners Mae
CT Offshore Completes Gode Wind Cabling
CT Offshore has finalised the installation of the last inter-array cable on DONG Energy’s Gode Wind 2+1 offshore wind farm in the German part of the North Sea. “The cable installation was successfully completed through good team work with the entire project team, including our clients DONG Energy. G
SeaBird Shrinks Loss
Oslo-listed SeaBird, a seismic data provider for oil and gas companies, has narrowed its net loss in the fourth quarter, as the company continues implementation of cost cutting measures in order to adapt to weak seismic demand. SeaBird posted net loss of $6.5 million for the fourth quarter of 2015,
Fugro Suffers $410 Mln Loss, Announces Further Cuts
Dutch subsea and survey specialist, Fugro, has ended the year 2015 with a loss of €372.5 million ($410.4 million) as the oil and gas market slump continues to drive revenues down and stress offshore services players. The company managed to narrow the loss of €459 million ($505.7 million) from last y
Subsea 7 Grabs Egypt Contract
Subsea 7 has won a contract, worth over $750 million, from BP, and partner DEA (Deutsche Erdoel AG), for the development of the Giza, Fayoum and Raven subsea fields offshore Alexandria, Egypt. This is the second phase of the West Nile Delta project, where the field development will be at depths of u
GAS to Support Chirag Oil Project Off Azerbaijan
GAS Azerbaijan branch has been appointed to perform survey and positioning support activities for the Chirag Oil Project (COP) 2016, as part of the frame agreement awarded by Saipem for the provision of survey services in Azerbaijan until the end of 2017. The scope of work concerns the laying of 8.3
Magseis Loss Grows
Norwegian ocean bottom seismic specialist, Magseis, has reported net loss of USD 11 million or USD 0.37 per share in the fourth quarter 2015, compared to USD 4.1 million (0.15) net loss year-on-year, and net loss of USD 0.3 million during Q3 2015. The Oslo-listed company has seen its revenue drop to
Polarcus Wins More Work
Polarcus has received multiple awards which together extend the fleet backlog by six vessel months, the Oslo-listed company said on Friday. The projects will be carried out by multiple Polarcus vessels and start in Q1 and Q2 2016. Duncan Eley, Polarcus COO, said: “Two of the awards are extensions of
World’s Largest Underwater Restaurant En Route to Maldives
Global shipping & logistics services provider, GAC, has organised move of the world’s biggest underwater restaurant from New Zealand to Maldives resort. The 22.5 meters long acrylic and steel structure is on its way to the Maldives, thanks to GAC’s project logistics expertise. It took 12 months of d