Seismic contractor, Polarcus, has recorded a net loss third quarter in a row as the contract revenues went down 33% from the same quarter a year earlier. The Norwegian company reported a first-quarter loss of $26.4 million or basic and diluted earnings per share of negative $0.04, versus the net pro
Oslo-listed seismic player Petroleum Geo-Services (PGS) has booked a net loss of $19.5 million for the first quarter of 2015, compared with a $4.6 million profit in the corresponding period in 2014. In the first quarter of 2015, the company recorded revenues of $251 million ( out of which $143.3 mil
Norway’s Statoil has slipped into the red for the three months ended March 31, 2015, largely on U.S. onshore unconventional asset impairments. The company’s net loss for the first quarter was NOK 35.5 billion ($4.71 billion), compared with a net profit of NOK 23.6 billion a year earlier. Statoil gen
Hydrex diver/technician team performed a propeller blade cropping operation on a 190-meter bulker while the vessel was at anchorage in Yeosu, South Korea. An underwater inspection revealed that all five blades were bent severely and that they also suffered cracks and dents along the trailing edges.
This morning, the jack-up vessel WIND arrived at the Port of Oostende for the first time, where it will pick up parts for the Belwind offshore wind farm. The vessel is carrying out maintenance work on Belwind. The Belwind offshore wind farm comprises fifty five Vestas’ V90-3.0MW (MHI Vestas Offshore
Italian contractor Saipem has received notice of legal proceedings before the Court of Milan by 64 investors claiming compensation for damages of approximately EUR 174 million allegedly incurred following the purchase of Saipem shares in the period between 13 February 2012 and 14 June 2013. Namely,
French vessel owner and provider of marine and subsea services, Bourbon, has booked a rise in revenues for the first quarter of the year backed by favorable foreign exchange rate environment. Bourbon generated $422 million (€383.6 million) over the three months to March 31, up 15% compared to the $3
Finnish wave energy developer Wello Oy is extending its testing programme at the European Marine Energy Centre (EMEC) in Orkney with signing of one year extension to their original contract. The 1 MW Penguin wave energy converter has been undergoing testing in Orkney since June 2011, and was first d
Eni started production two weeks ahead of schedule at the Cinguvu oil field, from the West Hub Development Project in Block 15/06 in the Angolan Deep Offshore, approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo. The start-up follows the achievement of West Hub’s first o
Oslo-listed, Subsea 7, has seen its profits rise for the first quarter (Q1) which ended on March 31, 2015 on improved operating income and foreign currency gains. The UK-based offshore engineering company, recorded net income of $151 million in the quarter, compared to $131 million in Q1 2014. Dilut
Oceanteam Shipping informed that its subsidiary RentOcean has successfully signed a EUR 15 million revolving term loan facility provided by NIBC Bank N.V. According to the company’s filing to Oslo Stock Exchange, the facility matures in 3 years after the facility start date. Proceeds of drawdowns un
Aker Solutions’ net income for the quarter fell to NOK 220 million ($28.7 million) from NOK 283 million ($37 million) in the same period last year. Earnings per share (EPS) fell to NOK 0.79 in the quarter from NOK 1.03 a year earlier. Earnings were impacted by costs of overcapacity in the maintenanc
Finnish wave energy developer Wello Oy is extending its testing programme at the European Marine Energy Centre (EMEC) in Orkney having signed a one year extension to their original contract. Their 1MW Penguin wave energy converter has been undergoing testing in Orkney since June 2011, and was first
ABB has secured an electrical services contract for the 194MW Lynn and Inner Dowsing offshore wind farm in the east of England. The Swiss company will undertake maintenance of 54, 3.6 MW offshore wind turbine generators, as well as the electrical equipment over the period of two years. The contract
