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(OW) The New Jersey Economic Development Authority (NJEDA) has approved agreements with Ørsted for the development and sublease of up to 34 acres at the New Jersey Wind Port (NJWP), which Ørsted will use as a staging and support area for its 1.1 GW Ocean Wind 1 offshore wind project. With the agreement, Ørsted will... Continue Reading →
Spain-headquartered Iberdrola has secured a EUR 500 million loan from Citi, partly guaranteed by the Norwegian Export Credit Agency (Eksfin), to support the development of the 1.4 GW East Anglia Three offshore wind farm in the UK. The loan has a drawdown period of two years. According to Iberdrola, it will improve the company’s liquidity... Continue Reading →
Corio Generation has signed cooperation agreements with local companies, based in Busan, for the development of offshore wind projects in South Korea. Corio announced it had signed a Memorandum of Understanding (MoU) with GS Entec on 19 July and with Chokwang-Jotun on 20 July, respectively, for its offshore wind projects in Busan. Under the agreements,... Continue Reading →
China-based companies specializing in ocean-based heavy lift transport COSCO SHIPPING Specialized and Guangzhou Salvage have concluded a joint venture deal leading to the creation of a fleet of 18 semi-submersible vessels by the end of 2023. Commercial management of the fleet will be handled by the joint venture and COSCO SHIPPING Heavy Transport exclusively with... Continue Reading →
(OET) TechnipFMC has received $4.1 billion in subsea inbound orders in the second quarter of 2023, a 62.2% increase compared to Q1 2023 and a 113.4% increase compared to the same period in 2022. Records were set for the company’s iEPCI full-field subsea development and integrated project execution and Subsea 2.0 subsea production system. TechnipFMC’s total... Continue Reading →
(Reuters) Singapore's Keppel Corp KPLM.SI on Thursday reported a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine (O&M) unit and strong performance from the infrastructure business. Keppel sold its offshore and marine business in February for S$4.50 billion ($3.40 billion) to Sembcorp... Continue Reading →
(OET) Fugro has reported a revenue of over €1 billion for the first half of 2023, representing a 24.1% growth from €833 million in the first half of 2022, said to be due to continued high client demand in energy markets, in particular for offshore wind site characterization solutions and related nearshore activities. In 1H... Continue Reading →
(OE) Subsea 7's recently delivered Seaway Alfa Lift offshore wind foundation installation vessel is in transit to Europe and is expected to join Subsea 7's fleet in the third quarter of 2023. The semi-submersible heavy installation vessel, designed by Ulstein, will be used to install the next-generation XXL offshore wind foundations. The newbuild heavy lift... Continue Reading →
(OE) Offshore installation firm DEME Offshore said Tuesday it had installed the approximately 3,000 ton offshore substation for the Vineyard Wind 1 project - the first commercial-scale offshore wind farm in the United States. "The installation of the offshore substation, a first in the US, took place after months of preparation with collaboration and dedication... Continue Reading →
Subsea 7’s revenue for the first half of 2023 was $2.8 billion, a $323 million or 13 per cent increase compared to the first half of 2022, said to be due to significantly increased activity in the Subsea and Conventional business unit partly offset by lower revenue in the Renewables business unit. For 1H 2023,... Continue Reading →
