Subsea
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (July 23 – July 29). https://subseaworldnews.com/2018/07/26/subsea-7-revenue-up-but-profit-cut-in-half/ This content is available after accepting the cookies. Change cookie-settings View on Subseaworld
Prysmian Chairman Resigns
Prysmian’s chairman Massimo Tononi has tendered his resignation from the positions of company’s chairman of the board of directors, board member and member of the remuneration, nomination and sustainability committee. The resignation is effective as from the end of the meeting of the board of direct
Fugro’s David Millar to Serve on IHO-IOC GEBCO Guiding Committee
International Hydrographic Organization (IHO) has appointed Fugro’s government accounts director for the Americas region, David Millar, to serve on the Guiding Committee of the General Bathymetric Chart of the Oceans (GEBCO) Project. GEBCO is a non-profit organisation operating under the joint auspi
Naval Energies Shelves Tidal Energy Plans with OpenHydro in Liquidation
Naval Energies has decided to stop investing in the field of tidal turbines and to concentrate its efforts on floating wind turbines and ocean thermal energy conversion. Following Naval Energies’ decision, its Dublin-based subsidiary OpenHydro has been put under provisional liquidation. On 24 July,
Van Oord Progresses East Anglia ONE Jackets Installation
Van Oord has started its next campaign to install jackets at the East Anglia ONE offshore wind farm in the North Sea. The wind farm’s 102 three-legged jacket foundations will be installed at depths of down to 55 meters in the southern North Sea, located 45 kilometers southeast of Lowestoft, UK. Scot
Rotech Cable Grab Tool Executes Its First Campaign
Rotech Subsea has launched the RSG1 – a new cable grab system which has already been deployed on a major North Sea renewables project. The debut of the tool – designed and manufactured by Rotech’s in-house R&D division – heralds the launch of a new service from the subsea operator which is now able
Fugro Mercator Makes Pit Stop at Damen
Damen Shiprepair Harlingen (DSHL) has completed maintenance and repair works on the Fugro Mercator, a twin-hulled survey vessel operated by Fugro. Fugro Mercator is a 42.35-metre survey vessel deployed by Fugro for bathymetric and geophysical surveys, cable and pipeline route surveys. The vessel’s v
Fugro Recognized for Red Sea Hydrographic Survey
Fugro has been presented with the Joint Airborne Lidar Bathymetry Technical Center of Expertise (JALBTCX) LCDR Peter Johnson Best Practices Award 2018, for its completion of a large, multi-year hydrographic survey in the Red Sea. The survey project was finalised in December 2016. It covered over 113
Ashtead Technoloy Boosts Multibeam Echosounders Fleet
Ashtead Technology, an independent subsea equipment rental company, has spent USD 2 million to bolster its fleet of multibeam echosounders. The company made a deal with R2Sonic for 12 systems, to support customer’s requirements. David Mair, business development director of Ashtead Technology, said:
TechnipFMC Sees Profits Slide
TechnipFMC has reported second-quarter 2018 profit of $106 million or 23 cents per diluted share. The services major has seen a 36 percent decrease compared to net profit of $165 million same time last year. Adjusted earnings per share for the quarter were 28 cents, excluding charges and credits. Re
Polarcus Cuts Deficit
Seismic player Polarcus has reduced quarterly loss when compared to second-quarter 2017 as revenues increased some 24 percent. The Oslo-listed company reported net loss for the quarter ended June 30, 2018 of $8 million, versus loss of $34 million in Q2 2017. Sequentially, Polarcus slipped into red f
EMGS Reports Weaker Quarter
Norwegian geophysical services company EMGS has recorded slightly lower results when compared to second-quarter 2017, with net loss widened by some 200K. The Oslo-listed company reported net loss for the quarter ended June 30, 2018 of $6.2 million or 6 cent per share, versus loss of $6 million in Q2
Subsea 7 Revenue Up But Profit Cut in Half
Oslo-listed Subsea 7 has seen profit cut by close to 50 percent in the quarter ended June 30, 2018 on fewer large projects, lower margins and lower activity levels in some of its business units. The subsea engineering and construction specialist posted quarterly profit of $74 million, or $24 cents p
CGG Adds New CFO
CGG has appointed Yuri Baidoukov as group CFO, effective September 1, 2018. Yuri Baidoukov will be based in Paris and report to the chief executive officer, Sophie Zurquiyah. “I am very pleased that Yuri has agreed to join CGG and look forward to having him on the executive team,” said Sophie Zurqui