Subsea
Solstad Farstad Books $146M Loss
Norwegian owner and operator of offshore vessels Solstad Farstad has recognized loss of 1.15 billion Norwegian Kroner (NOK) (USD 146 million) in the final quarter of 2017, up from 1,5 billion Kroner (USD 190.5 million) in the corresponding comparable period in 2016. Solstad Farstad is the result of
Hexatronic Wins Multiple Submarine Cable Orders
Hexatronic Cables & Interconnect Systems has been awarded several orders for the supply of fiber optic submarine cable. The total order value amounts to SEK 33 million, of which most of it is from new customers, the company informed. The major part of the orders is planned to be delivered during sum
Oceaneering Bounces Back to Profit; Eyes Weaker 2018
Subsea engineering specialist Oceaneering has reported net income of $173.6 million, or $1.76 per share, on revenue of $484 million for the three months ended December 31, 2017. Adjusted net loss was $8 million, or $8 cents per share, offset by $181 million adjustments, mostly related to $189 millio
RTS Becomes Kongsberg Maritime’s Agent in Norway
Kongsberg Maritime has appointed RTS as a dealer for their range of hydroacoustic equipment and subsea positioning systems in Norway. The companies have also agreed to jointly invest in a rental pool consisting of Kongsberg’s full range of acoustic positioning systems and accessories. In addition, K
SeaBird Cuts Quarterly Deficit; Full-Year Loss Widens
Oslo-listed SeaBird has narrowed its quarterly loss for the period ended December 31, 2017 as revenues increased close to 60 percent on higher fleet utilization. The seismic data provider for oil and gas companies posted loss of around $5.9 million or 1 cent per diluted share for the fourth quarter
Dril-Quip Nets Ca Rong Do Deal Offshore Vietnam
Dril-Quip’ subsidiary, Dril-Quip Asia Pacific based in Singapore, has secured a contract to supply top tensioned riser (TTR) systems and related services for the development of the Ca Rong Do project offshore Vietnam. The Ca Rong Do field is operated by Repsol with the participation of Mubadala, PVE
DOF Subsea Narrows Q4 Loss, Ends 2017 in Red
DOF Subsea, a subsidiary of DOF Group, reported loss in the fourth quarter of 2017 of NOK 375 million ($47.6 million), compared with loss of NOK 430 million ($54.6 million) in the corresponding period in 2016. Full year result for 2017 came out negative, with net loss of NOK 273 million ($34.6 milli
Catapult Points Developers to £19M Innovate UK Funding
The Offshore Renewable Energy (ORE) Catapult is highlighting three new innovation opportunities for UK companies, calling for new technologies that can service the offshore renewables industry. The technology innovation and research centre is asking innovators to come forward with solutions addressi
Schlumberger, Subsea 7 Negotiate New Joint Venture
Schlumberger and Subsea 7 have entered into negotiations to form a joint venture that builds on the success of Subsea Integration Alliance, established in 2015. The joint venture will be owned 50% by Subsea 7 and 50% by Schlumberger. The proposed joint venture will strengthen the front end engineeri
Fugro Makes Supervisory and Board of Management Changes
Fugro’s supervisory board has made a decision to nominate Paul Verhagen for reappointment to the company’s board of management. Paul Verhagen is currently holding the chief financial officer position. Paul Verhagen is due to step down from the board of management at the annual general meeting (AGM)
Subsea UK Organizes Subsea STEM Challenge for Secondary Pupils
Subsea UK has launched a new initiative aimed at encouraging school pupils to consider a career at sea. The STEM Challenge, led by Subsea UK and supported by The Smallpeice Trust, will see teams of year nine students compete in a design-and-make challenge for the marine industries. The regional comp
Wave Hub Submits EIA Report for Pembrokeshire Demonstration Zone
Wave Hub Limited (WHL) has submitted an environmental scoping report to Natural Resources Wales and the Marine Management Organisation for the Pembrokeshire Demonstration Zone (PDZ). The report considers a mix of wave energy and floating wind technology with a maximum total electricity generation of
Nautilus Minerals Names New Chief Operating Officer
Nautilus Minerals has appointed Wayne Knott to the role of chief operating officer (COO), effective March 19, 2018. Knott is a metallurgist with over 30 years of mining industry experience, with particular expertise in dredging, operational start-ups and reviews. He previously worked for Nautilus Mi
Nippon Foundation Aims to Map Ocean Floor by 2030
The Nippon Foundation – GEBCO Seabed 2030 Project is now operational, chairman Yohei Sasakawa announced at a press conference. The project will realize Sasakawa’s vision of mapping the entire ocean floor by 2030. The Nippon Foundation has pledged US$2 million annually, and is calling for additional