Following loan default, Polarcus’ lenders have taken control of its vessels and shipholding unit. On Tuesday this week, Marine seismic player said it had defaulted on debt payments and that it will halt all interest and installment payments to finance providers. That same day, the company’s shares f
Oil and gas company Neptune Energy and its joint venture partners BP and JAPEX, have started drilling on the Seagull project in the UK Central North Sea.
Texas-based hydraulic repair, manufacturing and rental company Logan Industries has manufactured and delivered the second set of a new and innovative design of small-footprint coiled tubing (CT) reelers. Logan’s new CT reelers are suitable for storing and deploying 10,000 ft of 2 3/8 in. tubing. The
Subsea 7 and Aibel have secured contracts from Equinor for the Northern Lights project. Subsea 7’s scope includes engineering, fabrication and installation of a 100 kilometres CO2 pipeline that will run from Øygarden to the CO2 storage complex, as well as installation of umbilicals, tie-in and pre-c
Tasik Subsea DP3 dive support vessel Southern Star is the first ship in the world to receive IDM-A (Infectious Disease Mitigation – Arrangements) class notation from U.S. classification and technical advisory ABS. Following the outbreak of the worldwide pandemic, American Bureau of Shipping (ABS) in
Deep-ocean polymetallic nodules exploration company DeepGreen Metals announced an upward revision to the nodule resource reported within the NORI-D exploration contract area held by its subsidiary, Nauru Ocean Resources in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean. DeepGreen now estimat
Subsea technology company Rovco has announced a record year for 2020, delivering £7.5 million ($10.3 million) in revenues – mostly from offshore wind and also a 286 per cent overall increase on 2019. 2020 also saw the winning of new contracts and growth of backlog that now stands over £16 million ($
Survey specialist Sulmara Subsea is making an expansion drive in the APAC region by opening a regional office in Singapore. A Glasgow-based firm, founded in 2019, also has operational hubs in Aberdeen, Scotland and Houston, Texas. With APAC identified early on as a key market, a regional presence wa
Singapore-based engineering firm G8 Subsea and Zhongtian Technology Submarine Cable (ZTT) are developing the next-generation hybrid composite submarine cable for high voltage and 5G internet connectivity. G8 has worked on a solution that takes care of the 5G internet demand, but also aims to connect
Prysmian is taking a step forward on its path to improve the sustainability of its operations, by making its Finland submarine cable plant, the company’s excellence centre also for green energy consumption. The Pikkala plant is strategic for Prysmian because it is a centre of excellence for producti
The world’s largest underwater engineering event – Subsea Expo – will not be taking place this year. Organisers, Subsea UK, who have already postponed the event from February to May this year due to the coronavirus-imposed restrictions have decided to wait until 2022 before staging the event. The th
Following a review, oil and gas company Dana Petroleum is abandoning an offshore gas project located in the UK sector of the North Sea.
Fugro has selected Sonardyne to support its global fleet of uncrewed surface vessels (USVs) and remotely operated vehicles (ROVs). Fugro will integrate Sonardyne’s Mini-Ranger 2 USBL; configured with Marine Robotics software extension pack, into its new 12 metre-long Blue Essence USV. The offshore s
MAATS Tech has secured a contract with VARD to deliver cable lay equipment for Van Oord’s new cable laying vessel (CLV). “I am immensely proud of the team effort that has gone into winning this contract and continues our track record in providing this type of equipment in the cable industry, already
