Following the financial crash of Harkand Group, that saw four charter deals terminated and over 170 jobs lost, it remains to be seen what the future holds for the newbuild DP3 dive support vessel the Harkand Haldane, which was scheduled for delivery in Q2 2016. Namely, the vessel is in an advanced s
Wärtsilä on Monday said it has been selected to provide its propulsion machinery packages for two dual-fuel ro-ro passenger ferries being built for Caledonian Maritime Assets of Scotland.
Norwegian shipowner Siem Offshore has terminated the charter party for the offshore subsea construction vessel (OSCV) Siem Spearfish, due to non-performance of the charterer’s obligation, the company said on Monday. In November 2013, Harkand had entered into a charter agreement with Siem Offshore fo
Reach Subsea has entered into a firm contract with Norwegian University of Science and Technology (NTNU) for the MarMine project, the first project in Norway focused on the resource potential and technological aspects related to seabed minerals and mining. Reach has been tasked to complete a scienti
Sterling Energy plc has completed its withdrawal from the Ambilobe block, offshore Madagascar. To remind, the AIM listed oil and gas exploration company on April 28, 2016, said its wholly owned subsidiary, Sterling Energy (UK) Limited would exit the block, to focus on shorter cycle revenue generatin
Houston-based oil and gas company Noble Energy has received a certificate of compliance to the SEMS (Safety and Environmental Systems) standard from DNV GL’s Business Assurance USA for Noble’s offshore drilling operations in Israel. The compliance certification which sets criteria for safe operation
Forum Subsea Rentals, a subsidiary of Forum Energy Technologies, has placed a rental equipment order with subsea technology provider, Sonardyne International. According to Forum, some of the equipment will deployed within its global rental pool, however the majority is committed to secured field dev
Entek Energy is selling its Gulf of Mexico portfolio citing challenging market conditions. The company on Monday said it would sell its entire Gulf of Mexico portfolio to Peregrine Oil and Gas. These portfolio comprises Entek’s respective 38% and 25% interests in the GA A133 and PN 975 blocks, and i
Dredging Today brings you an overview of the most popular stories from the past week (May 2 – May 8, 2016). TSHD Inai Kenanga Electrical Installations Completed Bakker Sliedrecht has just completed the electrical installations works on the trailing suction hopper dredger Inai Kenanga. HKIA Land
Subsea World News has put together a recap of the most interesting articles from the previous week (May 02 – May 08). IMR and light construction player Harkand has entered into administration after it, earlier this year, defaulted on the payment of its senior secured bond issue and interest, due to
A team led by AJ Jain, Harkand North America managing director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named Ethos Offshore Ltd, will continue to provide subsea engineering and construction services to Harkand’s existing US, M
Gardline Geosurvey and Neptune have joined forces to bring a new integrated vessel and ROV package to market. The strategic partnership between the companies will see Gardline’s DP2 multi-role survey vessel, the MV Kommandor, enhanced with the permanent installation of Neptune’s Explorer 06 100HP RO
Norwegian vessel owner, Eidesvik Offshore, has received a charter termination notice from the administrators of Harkand Gulf Contracting Ltd for the vessel Viking Poseidon. Harkand Gulf Contracting Ltd is part of the group of companies that fell into administration on May 4, 2016 due to financial pr
McDermott reported that its first-quarter 2016 loss narrowed some 85 per cent on better-than-expected revenue boost. The Houston-based company recognized quarterly loss of $2.2 million, or $0.01 per fully diluted share, compared to net loss of $14.5 million, or $0.06 per fully diluted share same tim
