Subsea
Siem Looks to Invest into Farstad
Norwegian shipowner Farstad Shipping and a company in the Siem Industries group (Siem) have entered into a non-binding letter of intent for the financial restructuring of Farstad Shipping, with Siem or a fund managed by Siem as a key equity investor. To remind, Farstad and a majority of its secured
TechnipFMC Nets Trestakk Field EPCI
FMC Technologies and Technip alliance has received an integrated engineering, procurement, construction, and installation (EPCI) contract from Statoil for its Trestakk field in the Norwegian Sea. The contract was won based on an optimized subsea field layout, accomplished through close collaboration
SeaBird Posts Wider Loss
Oslo-listed SeaBird has seen more red ink in the third-quarter 2016, on decreased revenue due to lower utilization and reduced fleet size. The seismic data provider for oil and gas companies posted loss of around $3 million or $0.97 per diluted share for the third quarter of 2016, compared to net lo
Subsea Development Concept Selected for Pil & Bue
The operator of the Pil & Bue discoveries, VNG Norge, has selected a subsea development solution tied back to the Njord platform in the Norwegian Sea as the preferred concept for development of the Pil & Bue. The discoveries are located in the licence PL586, where VNG is the operator with 30% intere
Shearwater in CEO Hunt
Shearwater GeoServices, a new marine geophysical company jointly owned by GC Rieber Shipping and Rasmussengruppen, has initiated a process to recruit a permanent CEO. Irene Waage Basili was appointed interim CEO of Shearwater on October 13. In anticipation of a permanent CEO, Waage Basili will tempo
Kongsberg Introduces GeoSwath 4 Multibeam Echo Sounder
Kongsberg Maritime has launched GeoSwath 4, the fourth generation of its GeoSwath shallow water multibeam echo sounder. GeoSwath 4 features a new look deck unit, which is smaller and lighter, with sufficient Ethernet, USB and serial interfaces to suit any combination of peripheral sensors. Inside, t
Maersk Supply Service Launches Integrated Solutions Business
Maersk Supply Service has launched a new Integrated Solutions business. With vessel operations remaining the core business, Maersk Supply Service will in addition bundle services and manage sub-contractors to offer a more simplified and efficient operation to customers, the company explained. “As th
Royal Navy Divers Clear Garvie Island UXO
Fifteen Royal Navy clearance divers from the Clyde-based Northern Diving Group (NDG) recently traveled to Cape Wrath in Scotland to tackle unexploded ordnance left over from military exercises. The military training range at Cape Wrath is an important defence asset, a remote 107-square miles of moor
Ecosse Subsea Systems, Osbit to Develop New Seabed Trenching Solution
Ecosse Subsea Systems (ESS) said it will invest up to £3 million in developing a water-jetting tool which, reportedly, has the potential to double trench production rates in seabed trenching operations. ESS has awarded a contract to Osbit. The Northumberland-based company will be the lead detail des
Akastor Narrows Q3 Loss
Oilfield services investment company, Akastor, has managed to cut its loss in the third quarter of 2016, despite close to 50 percent revenue decrease on mostly lower impairments compared to the corresponding quarter in 2015. The Oslo-listed company recorded loss of NOK 160 million ($19.6 million) fo
Chevron, Trelleborg Develop New Buckling Mitigation Buoyancy
Chevron has awarded Trelleborg a license agreement to develop buckling mitigation buoyancy technology, including the design and qualification of the new product. In certain offshore conditions, lateral movement of traditional fixed buoyancy modules can cause soil compaction, increased lateral soil r
Bourbon Stacks More Vessels as Revenues Drop
Bourbon has posted lower adjusted revenues for the quarter ended September 30, 2016 as utilization and daily rates continue to slide. The company said it had stacked 85 vessels as of end-September this year, including 59 shallow water vessels, 22 deepwater vessels and 6 subsea vessels (8 subsea vess
IHC IQIP Gets Maritime Innovation Award for Integrated Monopile Installer
The Integrated Monopile Installer, developed by Royal IHC’s subsidiary, IHC IQIP, has won the Maritime Innovation Award at the 11th Maritime Awards Gala, held on October 31. The award is presented annually for a Dutch innovation from the maritime sector that meets the requirements for widespread pot
Automated Ships, Kongsberg to Build Unmanned Vessel for Offshore Ops
The UK’s Automated Ships and Norway’s Kongsberg Maritime have signed a Memorandum of Understanding (MoU) to build unmanned and fully-automated vessel for offshore operations. In January 2017, Automated Ships Ltd will contract the ‘Hrönn’, which will be designed and built in Norway in cooperation wit