US drilling company Transocean has entered contracts for two rigs in Norway. The work commences in the first quarter next year and has an estimated value of USD 116 million.
Esvagt raises the company's capital with DKK 200 million, totaling an added DKK 450 million since 2020. The money will finance the offshore and wind carrier's ambitions in offshore wind in the US.
The Norwegian oil company has set a new strategy with two incremental goals on its route to achieving net-zero emissions by mid-century. Half the group's investment from 2030 will be spent on green projects.
Aker Offshore Wind makes joint bid with oil supermajor BP and energy company Statkraft in tender for bottom-fixed offshore area Sørlige Nordsjø II. The consortium is looking at both hybrid projects and electrification of oil platforms.
US-based drilling rig operator Transocean has struck a deal with shipyard to postpone the delivery of two new ultra-deepwater drillships, thereby deferring payments of USD 400 million.
Semco Maritime, a specialist in technical installations on drilling rigs and offshore wind farms, is opening an office in Poland, eyeing a potentially lucrative business opportunity in offshore wind development.
After lengthy negotiations, hotel rig company Prosafe and its lenders have finally agreed on a rescue plan. The agreement removes about 75 percent of the company's debt.
The demand for oil is low as a result of the Covid-19 crisis, and so are the freight rates for oil tankers. This spring, rates were up to four times lower than in the first five months of 2020, according to an analysis from Bimco. IEA expects demand to normalize in 2023.
Although owners of offshore support vessels expect increasing demand, numerous challenges loom. Just over half of the global fleet is in operation the first quarter of 2021, according to a new analysis.
Offshore company Subsea 7 lands a major contract with Equinor in Brazil worth more than USD 750 million, according to a statement on the Oslo Stock Exchange.
Five pension companies voted, much like the majority of Shell's shareholders, to approve the oil company's climate plan shortly before a Dutch ruling rejected it. The burden of proof is now on oil companies that have to show that they are on the right side of the Paris Agreement, according to Danish pension provider PFA.
Dof has obtained deferral of loan installments and interest payments from its creditors. The previous deferral agreement expired on May 31, and Dof came out of the first quarter this year with a loss of around USD 97 million.
Singapore-based shipping company Swire Shipping now comes out in support of a CO2 levy in shipping, joining the field of shipping players working towards zero emissions in 2050.
Glen Ole Rødland steps down with immediate effect as chairman of drilling company Seadrill at a time when the company is in the midst of landing a restructuring.
John Fredriksen-controlled Seadrill has sold five rigs that have been marked for scrapping in Turkey, according to Finansavisen.
Norwegian offshore carrier Siem Offshore sees progress in the revenue and bottom line in the first quarter. The company expects increasing demand in the coming quarters, although it is too early to predict a solid upturn.
Maersk Drilling sells jack-up rig Maersk Inspirer to Havila Sirius. The money from the sale will be used to reduce debt, Maersk Drilling writes.
Wind industry veteran Philippe Kavafyan is appointed chief executive of Norway's Aker Offshore Wind.
John Fredriksen-controlled rig company Seadrill has appointed new chief officers to the management. At the same time, the beleaguered company's board has found its newest director.
Shell must reduce harmful emissions by 45 percent before the end of this decade. The claim from a Dutch court is significantly higher than the target set by Shell for 2030. The company plans to appeal the decision.
Construction and servicing of future offshore wind farms with very large turbines are obvious tasks for Norwegian companies with decades of experience in oil and gas, say several industry players. However, the tasks place great demands on ships.
Offshore operator Dof exits the first quarter with a deficit of NOK 804 million. As a result of a weak market and substantial debt-related costs, Dof is dependent on the goodwill of its creditors until a potential restructuring of its falls into place.
Energy companies Equinor, RWE and Norsk Hydro plan to submit a joint proposal to Norwegian authorities to develop a large-scale wind farm in the North Sea. Development costs total EUR 3-3.4 billion.
Troubled offshore carrier Solstad exits the first quarter of 2021 with a notably reduced deficit and cautious optimism following growth in oil, gas and wind activities for the rest of the year.
Offshore and wind carrier Esvagt has now been under the ownership of two private equity firms for six years. This ownership will not last indefinitely, CEO says to ShippingWatch. June is set to bring the first contracts on the US offshore wind market.
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