As the demand in the container shipping sector normalizes after a massive surge during COVID-19, the industry majors are reporting lower earnings and bracing for the upcoming period trying to keep discipline in Capex spending. Industry major Maersk reported a better-than-anticipated quarterly profit
Saipem has won two new E&C offshore contracts in Romania and in Germany with a total value of around €1.8 billion, which is close to $2 billion ($1.97 billion).
In the midst of a thriving shipbuilding upcycle fueled by the global decarbonization drive, Singapore-listed shipbuilder Yangzijiang Shipbuilding has secured a staggering $5.76 billion worth of orders for 72 vessels in the first half of 2023. The strong demand for clean energy vessels has been a sig
Romania’s National Agency for Mineral Resources has endorsed the development plan for a massive deepwater natural gas project in the Black Sea.
French telecommunications corporation Orange has taken delivery of its new cable laying and repair vessel (CLRV), said to be designed for the maintenance of cables for offshore wind projects. The vessel, named Sophie Germain after the pioneering French mathematician and philosopher, is currently on
Crown LNG Holdings, a provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, and Catcha Investment, a publicly traded special purpose acquisition company, have announced a definitive agreement for a business combination that is set to result in Crown becom
TotalEnergies and SOCAR have inked a deal, which will enable each to sell a 15 per cent participating interest in a gas field off Azerbaijan.
Norwegian seismic company TGS has completed what it describes is a “key project” in the North Sea and started the next one in the same area. The projects are being carried out using the TGS Z700 ocean bottom node (OBN) crew. According to TGS, this crew has completed two projects during this North Se
Baker Hughes’ international rig count report shows a boost in the number of offshore rigs in July 2023, as 6 additional units were recorded compared to the month before.
OMV has secured a drilling permit from Norway’s authorities for exploration drilling in the Norwegian Sea, using one of Transocean’s rigs.
Noble has secured a new contracts and extensions for its rigs in Brazil, Mauritania, Suriname, Malaysia, Australia, Norway, and the UK.
Mexico Pacific, a developer of the LNG export project in Puerto Libertad, Sonora, has signed long-term LNG sales and purchase agreements with the U.S. energy giant ConocoPhillips. Under the agreement, ConocoPhillips will purchase approximately 2.2 million tonnes per year (mtpa) in aggregate of LNG a
The US DOE’s WPTO and MSRDC have opened a $1.2 million funding opportunity to support promising, potentially high-impact water power research ideas from minority-serving colleges and universities.
SEA-KIT International’s uncrewed surface vessel (USV) destined for Fugro has completed sea and endurance trials and will soon leave for the Dutch company’s UK office. SEA-KIT reported on 3 August that its latest X-Class USV for Fugro had undergone comprehensive sea and endurance trials and is soon s
