Subsea
TechnipFMC stays in the red
UK-based TechnipFMC has reported fourth-quarter 2020 loss of $39 million or 9 cent per diluted share against $2.4 billion loss same time last year. Adjusted diluted earnings per share was 5 cents, with analysts projecting some 20 cents. Revenue for the quarter was down from Q4 2019 some eight per ce
Subsea 7 reports $1.1 billion loss in 2020
Subsea 7 has recognised a major loss in 2020, mostly on impairment charges, but increased its backlog by 20 per cent and kept revenue down only five per cent compared to 2019. The engineering and construction specialist recognised 2020 net loss of $1.1 billion, against loss of $82 million in 2019. I
New contract for Siem Spearfish
Norwegian subsea shipping company Siem Offshore has secured a contract for its Siem Spearfish vessel. The Oslo-listed firm said on Wednesday that the contract is for two months firm, with options, excluding mobilisation and demobilisation. The contract for an undisclosed client will see the offshore
NKT eyes improvement in 2021 on record high-voltage order backlog
NKT, the power cables business, has delivered improved revenue in Q4 2020 and on an annual basis. The cable division generated quarterly revenue of some €269 million, against €262 million same time last year. Year-to-date revenues stood at €1.08 billion (excluding Photonics business unit), versus €9
Forum widens fourth-quarter loss
Forum Energy Technologies has seen its loss widened in the fourth quarter 2020 on asset impairments and restructuring costs as well as revenue drop of some 44 per cent. The Houston-based energy sector products company recorded Q4 2020 loss of $32.7 million, or $5.85 per diluted share. This result co
Terna investing over €1 billion in new subsea power link
Italian transmission system operator Terna has begun the participatory design of the Adriatic Link, the new subsea power line which will connect Abruzzo and Le Marche. For the purpose of the porject Terna said it will invest over €1 billion, involving approximately 120 companies directly and through
Polar Onyx gets North Sea gig
GC Rieber Shipping has secured a new charter for the SURF vessel Polar Onyx in the North Sea. Earlier this week, the Norwegian shipowner also agreed a charter extension with DeepOcean for the Polar Onyx. The deal will be in direct continuation of the ongoing charter in Ghana. The extension will see
TechnipFMC scores Karish North job
TechnipFMC has received a letter of award from Energean for the development of the Karish North field, located offshore Israel. TechnipFMC will design, manufacture, deliver and install subsea equipment. The delivery includes: The subsea production system; Rigid flowlines and umbilicals as a tieback
Eelume beefing up its subsea robot
Equinor has awarded a contract to Eelume, Kongsberg Maritime and DNV GL to develop an environmental monitoring and survey module for the existing Eelume robot platform. The module will enable the autonomous range of Eelume robots to contribute and add value within Equinor’s environmental monitoring
Best full year result in history for Reach Subsea
Norwegian contractor Reach Subsea has seen another record quarter in 2020 as well as the best annual result in the company’s history. Despite challenging market and operating conditions, Reach maintained high utilisation levels and successful project execution. The oslo-listed company has booked fou
HydroSurv and Sonardyne team up on offshore wind survey ops
Uncrewed surface vehicle (USV) specialist HydroSurv is joining forces with marine technology firm Sonardyne to develop and demonstrate transformative seabed-to-shore sensing and data acquisition technologies for offshore operations. Through a collaborative project, part-funded by Innovate UK through
DEME to handle XXL foundations at Arcadis Ost 1 offshore wind farm
Parkwind has awarded DEME Offshore with an Engineering, Procurement, Construction and Installation (EPCI) contract for the foundations at the Arcadis Ost 1 offshore wind farm in the German Baltic Sea. The next-generation XXL monopiles will be the largest-ever installed in Europe with a weight of aro
Earnings drop for Helix Energy Solutions
Helix Energy Solutions has seen its fourth-quarter 2020 profit almost cut in half on lower well intervention activity, slightly offset by its robotics unit. The Houston-based company reported net income of $4.2 million, or $0.03 per diluted share, for the fourth quarter 2020 compared to $8.1 million
Saint-Nazaire foundation installation to begin end of March
The first transition pieces for the Saint-Nazaire offshore wind project in France have arrived at the Port of La Rochelle. Smulders shipped off the first four transition pieces for the 480 MW project in mid-February from Belgium to Rotterdam, the Netherlands, from where they were transported to Fran