Alternative direct lender AURELIUS Finance Company has provided financing to support the buy-out of emergency management and offshore decommissioning company Ardent from co-owners Svitzer, a global towage operator, and Crowley Holdings, a holding…
Northern Offshore, a global offshore drilling company which operates an offshore unit and a production vessel in the North Sea, has been awarded a contract in the Middle East for its jackup rig Energy Emerger.Northern Offshore Drilling Operations…
Shanghai Merchant Ship Design and Research Institute has been granted approval in principle (AiP) by Lloyd’s Register (LR) for a J-lay heavy lift vessel concept design.The vessel’s primary function will be deep-water pipe-laying, subsea installation and heavy lifting in deep sea…
Singapore-based offshore vessel operator Pacific Radiance has won an arbitration award against a Chinese shipyard in a case involving two cancelled platform supply vessels (PSVs).The arbitral award provides for the refund of the pre-delivery instalment amounting to $2…
State-owned Petroliam Nasional Bhd, or Petronas, expects to have its second floating liquefied natural gas (LNG) facility in Malaysia ready by the first quarter of next year, its chief executive, Wan Zulkiflee, told the LNG2019 conference in Shanghai on Tuesday…
Soil Machine Dynamics (SMD) announces that a deep-sea Quasar Work Class Remotely Operated Vehicle (WROV) has successfully completed sea trials.The 6000-meters-rated WROV, complemented with an electric drive dual-purpose winch and launch and recovery system (LARS)…
Soil Machine Dynamics (SMD) Shanghai has completed the manufacture and commissioning of a Quantum MkIII work-class remotely operated vehicle (WROV) at itsLingang facility.This is the first WROV to be built at their facility since its opening in 2018…
SBM Offshore signed a contract Wednesday for a second hull in its planned series of Fast4Ward floating production, storage and offloading units (FPSO) with Chinese shipyard Shanghai Waigaoqiao Shipbuilding and Offshore Co., Ltd. (SWS).The order…
China's government has appointed a senior oil industry executive as the country's top energy official, state-run media China Energy News reported on Wednesday.Zhang Jianhua, president of China's largest oil and gas group CNPC, has been named director of the National Energy Administration…
Many investors worry about volatility overnight as low liquidity added to wild gyrations. Shanghai crude oil futures slumped on Wednesday, the third day of trading since their launch, after heavy selling overnight, as traders scrambled to follow cues from the main international markets…
The ROV market isn’t out of the woods yet, with plentiful supply in the market dampening any perceived uptick in activity. But, offshore wind might offer some respite. Elaine Maslin reports (first published in the January 2018 OE, access full issue here)…
Following the award of an order from Shanghai Salvage for a 6000m Quasar Work Class ROV (remotely operated vehicle), SMD engineers have successfully completed work on the associated Curvetech subsea components to assure maximum working depth up to 6000m…
Houston’s Ardent completed the removal of the Troll Solution jackup in the Bay of Campeche, off Mexico, that the company is calling the largest wreck removal in 2016. Ardent deployed assets from several countries…
Royal IHC has entered into a contract with Shanghai Salvage in China for the supply of an integrated 550t reel lay system, making it the first reel lay system in the Chinese market. Illustration from Royal IHC…
Preparations are being made for the Transocean Winner to be transported as ‘dry cargo’ to Turkey, according to the Maritime & Coastguard Agency (MCA). Although contracts are still to be finalized, planning is under way for the rig, which is currently in Broad Bay in the Isle of Lewis…
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