For multi MW turbines, such as the new turbines from GE, Siemens and MHI Vestas, the offshore wind industry needs larger installation vessels. Rotor diameters of more than 150m, towers over 70m with a hub height over 100m require vessels with the dimensions to match the difference between the previo
The crew of the Yacu Kallpa has been stranded in the port of Tampico, Mexico for almost a month after being detained for carrying alleged illegal cargo. The ship was carrying some 4,000 tonnes of timber from Peruvian port Iquitos, Peru to Tampico, where it was supposed to be unloaded. However, some
Credit rating agency Fitch downgraded Hague-based LNG giant Shell following its $53 billion acquisition of BG Group. Fitch downgraded Shell’s Long-term Issuer Default Rating to ‘AA-‘ from ‘AA’. The outlook is negative, the agency said in a statement last week. Shell completed the BG acquisition on F
Petrofac, an international service provider to the oil and gas industry, has reported a 2015 net profit of $9 million after Laggan-Tormore North Sea gas project loss, compared to net profit of $581 million in 2014. Petrofac’s net profit before accounting for Laggan-Tormore loss was $440 million. Fur
Since mid-January there has been a notable uptick in reported incidents of piracy in the Gulf of Guinea, showing that pirates have given up on oil cargo theft and instead started kidnapping crew members for ransom, UK-owned risk management solutions provider Protection Group International (PGI) said
The influx of tonnage is expected to drive down tanker shipping rates towards the end of the year, according to the latest edition of Drewry’s Tanker Forecaster. The projection comes as tonnage supply, which has increased at a slow pace in recent years, is expected to accelerate in the next two year
OSLO (Reuters) – Norway’s oil companies have deepened cuts to their 2016 investment plans, the latest survey by Statistics Norway showed on Wednesday, weakening the crown and heightening expectations of a rate cut by the central bank next month. Norway’s leading industry has hit the brakes due to a
Bluewater, a service provider and operator of floating production storage and offloading units (FPSOs), has posted a loss of $99 million for the fourth quarter of 2015, compared to a profit of $2.8 million in 4Q 2014. According to the company’s 4Q results report, the major fall of the oil price sinc
Australian icebreaker the Aurora Australis ran aground at West Arm in Horseshoe Harbour, Antarctica, while on a resupply stopover at Mawson station. According to the Australian Antarctic Division, which is responding to the incident, the Aurora Australis broke free of its mooring lines at 3:15pm AED
The WaveCraft Surface Effect Ship Umoe Firmus arrived in the river harbour at the Port of Great Yarmouth in Norfolk today. Following extensive upgrades and testing, the vessel was handed over to the Tidal Transit crew, who sailed directly from Mandal to Yarmouth. Statkraft has chartered Umoe Firmus
Scottish Minister for Energy, Fergus Ewing, visited Floating Power Plant’s (FPP) stand at the International Conference on Ocean Energy (ICOE), taking place from 23 to 25 February in Edinburgh. Minister Ewing learned more about the technology, the challenges and FPP’s plans for developments in the UK
The Nigerian Navy on Monday publicly paraded the pirates, who were arrested for hijacking the Panamanian oil tanker MT Maximus which the navy released in a night-time gun battle with the pirates near Sao Tome. Namely, the six bare-chested men, all of Nigerian nationality, were paraded in front of th
Solstad Offshore, a Norwegian offshore service and shipping company, has seen a wider loss in the fourth quarter of 2015, compared to the same period in 2014, due to vessel impairment charges. The company on Wednesday posted a net loss of NOK 1.34 billion for 4Q 2015, compared to net loss of NOK 441
ScottishPower Renewables has made a final investment decision for the East Anglia ONE offshore wind farm. The company will now progress with the development of the wind farm, aiming to put it into operation by 2020. The project has a capacity of 714MW, enough to power the equivalent of 500,000 homes
