Kreuz Holdings Limited, a subsea service provider for the oil and gas industry, reported that profit for the period jumped over 8-times to a record US$5.7 million for the three months ended March 31, 2011 on the back of a 292.2% increase in revenue to US$26.1 million. Sequentially, revenue grew by 2
The very mention of coral reefs instantly conjures images of tropical seas, white sandy beaches and palm trees; you may have even heard of tropical coral reefs being referred to as the rainforests of the sea. Whilst all of this may be true, emerging evidence has highlighted that cold-water corals al
Deep Sea Supply reports consolidated revenues of MUSD 24.0 in 1Q 2011 compared to MUSD 26.1 in 1Q 2010. Total operating costs in 1Q 2011 were MUSD 21.9 compared to MUSD 17.4 in 1Q 2010. This resulted in EBITDA of MUSD 2.0 in 1Q 2011. Net financial items were negative MUSD 9.4, including unrealized c
Jee, a pipeline, riser and subsea engineering and training company for the oil, gas and renewables industries, announces that industry specialist Jonathan Lindsay joined its management team on 1 May 2011. Jonathan will head up the Aberdeen office and be responsible for operations and performance. Jo
McDermott International, Inc. reported income from continuing operations of $68.8 million, or $0.29 per diluted share, for the 2011 first quarter. The results of the 2011 first quarter compare to income from continuing operations of $51.6 million, or $0.22 per diluted share, in the corresponding per
Commenting on the first quarter results, Christian Lefèvre, Chief Executive Officer of BOURBON, said: ““As anticipated at the end of 2010, the market recovery is contributing to pushing vessel utilization rates up to 83.1% whilst daily rates are slightly higher than those in the fourth quarter of 20
THE impact that tidal energy generation could have on Pembrokeshire’s marine environment is to be studied by scientists. by Rachael Misstear (walesonline) [mappress] Source: walesonline, May 11, 2011
Emerson Process Management has launched the latest version of its production management system, Roxar Fieldwatch 2.3. The new version incorporates a wide range of Emerson’s reservoir monitoring instrumentation, providing operators with a more complete picture of the reservoir and of production activ
Case Western Reserve University and a major Chinese oil company agreed Tuesday to work together on research that they hope will lead… By Stephen Koff (cleveland) [mappress] Source: cleveland, May 11, 2011
Subsea 7 S.A. (formerly Acergy S.A.) announced results for the first quarter 2011 which ended on March 31, 2011. The combination between Acergy S.A. and Subsea 7 Inc. completed on January 7, 2011. Upon completion, Acergy S.A. was renamed Subsea 7 S.A. As a result of the combination and the change in
A collaborative R&D project between the Carbon Trust and eight leading international offshore wind farm developers is inviting ideas which… (seawork) [mappress] Source: seawork, May 11, 2011;
VMI is proud to announce the introduction of its new self-propelled horizontal dredge; the MD-822-SP. The MD-822-SP uses a unique patent-pending auger drive system to maneuver and position the dredge during operation. The auger drive system is mounted directly behind the horizontal cutter head to pr
The growth in revenue that commenced in the second half of 2010 continued, as expected, in the first months of 2011. This was despite somewhat lower utilisation of the vessel fleet due to such factors as a higher number of planned dry dockings for regular maintenance and the unexpected cancellation
Hydroid, Inc., a subsidiary of Kongsberg Maritime, the leading manufacturer of Autonomous Underwater Vehicles, announced that its REMUS 100 AUV aided in the discovery of the World War I German submarine U-106, which had been missing since October 1917. The Royal Netherlands Navy (RNLN), which used t
