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Tidewater Inc., a leading global provider of offshore support vessels, has reported a strong start to 2023, posting its highest quarterly revenue since the fourth quarter of 2015. First quarter revenue hit $193.1 million, representing an 83% increase over the first quarter of 2022. Net income hit $10.7 million, or $0.21 per share, compared to... Continue Reading →
(Reuters) - Danish wind turbine maker Vestas (VWS.CO) on Wednesday reported an unexpected first-quarter profit and maintained its full-year guidance despite a tough backdrop for the industry. Despite booming demand for renewable energy, increased competition and soaring metal prices meant that Vestas did not manage to turn a profit last year. "The wind industry remains challenged by... Continue Reading →
Gazelle Wind Power (Gazelle), the developer of a hybrid modular floating offshore wind platform, has agreed to take a controlling stake in Spanish-based naval architect and marine consulting firm Faustino Carceller, S.L. (F. Carceller). "Gazelle’s shipbuilding approach for construction creates synergies for both companies, making this acquisition a practical fit to help the company accelerate... Continue Reading →
(OE) Japanese FPSO supplier MODEC has won a contract with Equinor to supply an FPSO vessel for the BM-C-33 block of the Campos Basin offshore Brazil. The order comes just days after Equinor and its partners Repsol Sinopec Brasil, and Petrobras took the $9 billion investment decision to develop the BM-C-33 project in Brazil. Located in the... Continue Reading →
TechnipFMC has secured a “large” contract by ExxonMobil to deliver a subsea production system for a recently sanctioned oil development project in Stabroek block offshore Guyana. Under the contract awarded by ExxonMobil affiliate Esso Exploration and Production Guyana, TechnipFMC will provide project management, engineering, and manufacturing to deliver the overall subsea production system for the Uaru project. The... Continue Reading →
Shell Brasil, a subsidiary of the UK-headquartered energy giant Shell, has awarded a green recycling limited notice to proceed (LNTP) agreement to Modern American Recycling Services, Europe (M.A.R.S.) for a floating production storage and offloading (FPSO) vessel working off the coast of Rio de Janeiro. M.A.R.S. disclosed on Monday, 8 May 2023, that it had... Continue Reading →
(PN) Subsea7 has expanded its fleet of vessels in Brazil with the addition of the Seven Vega – offshore construction vessel (OCV). The vessel will operate in the Bacalhau field, operated by Equinor in the Santos basin, where the Subsea Integration Alliance is conducting the offshore campaign. “We are immensely proud to bring such a... Continue Reading →
Petrobras will not do all of its shipbuilding work in Brazil, a top executive said, dashing industry hopes the state-controlled oil firm would review its awarding process to spur job creation. Steel groups, shipping unions and 14 other organizations which backed the election of President Luiz Inacio Lula da Silva are pressing the government for... Continue Reading →
Japan’s FPSO provider MODEC is moving to the engineering, procurement, construction, and installation (EPCI) phase for ExxonMobil’s floating production storage and offloading vessel (FPSO), which will work on the U.S. energy giant’s recently sanctioned fifth offshore development project in Guyana. MODEC disclosed on Monday, 8 May 2023, that it would proceed with engineering, procurement, and construction on the Uaru FPSO, following a final... Continue Reading →
(OE) Singapore's Seatrium, through its subsidiary Sembcorp Marine Offshore Platforms Pte. Ltd. (“SMOP”), has secured a contract worth more than S$500 million for two offshore wind farm substations from Empire Offshore Wind, a joint venture between Equinor and BP. The contract award follows the completion of the FEED (Front-End Engineering and Design) contract secured by... Continue Reading →
