Italian shipbuilder Fincantieri reported a 16% drop in revenues for the first nine months of 2020 reaching €3.53 billion, considerably impacted by the Covid-19 outbreak. The shipbuilder’s EBITDA stood at €200 million, down from €306 million reported in the same period in 2019, with an EBITDA margin of 5.7%, up from 5.0% first-semester margin (7.3% …

Fincantieri points to Q3 production recovery in an unprecedented year Read More »

Malaysian FPSO operator Yinson has released a video showing the inside workings of its Abigail-Joseph FPSO, which is now in production on a field located offshore Nigeria. Yinson’s video of the Abigail-Joseph FPSO includes the tour of the FPSO’s three gas compressor modules, the activity overview from the contract award to the sailaway from Singapore …

VIDEO: Step right up for a virtual tour of FPSO now producing off Nigeria Read More »

A fire broke out on board a Togo-flagged general cargo vessel which was moored near Elafonissos, Greece, the Hellenic Coast Guard said. The fire started in the afternoon hours of 11 November. Its origin has not been determined so far. The ship — with fourteen crew members on board — has been identified as the …

Cargo ship catches fire off Greek coast, crew evacuated Read More »

Greek shipping company Capital Gas, a unit of Capital Maritime Group took delivery of its newbuild LNG carrier Aristos I. Courtesy of Capital Gas The vessel, capable of transporting 174,000 cubic meters of the chilled fuel, was built by the South Korean yard Hyundai Heavy Industries. The vessel features X-DF engines and is equipped with …

Capital Gas takes delivery of LNG newbuild Read More »

If Equinor’s bids are successful at New York State’s latest offshore wind solicitation, that could lead to creation of up to 350 jobs related to manufacturing of wind turbine components at the Port of Albany in upstate New York. Namely, the developer included the Port of Albany in its proposals recently submitted at the state’s …

Equinor’s NY offshore wind plans could bring 350 jobs in Port of Albany Read More »

Pacific International Lines (PIL) is seeking protection from the Singapore High Court from winding-up or enforcement orders as it tries to get its noteholders on board with a comprehensive restructuring plan. Under the plan, Singapore’s container shipping major is vying for fresh financing from Heliconia Capital Management Pte, an investment firm owned by Temasek Holdings, …

Pacific International Lines offered $600M lifeline as it fights to avoid liquidition Read More »

The towing of Wello’s Penguin wave energy converter from the United Kingdom to Spain has come to a stop, and is now rescheduled for early spring in 2021. Penguin wave energy device (Courtesy of Wello) The decision to halt the operation comes after three weeks of towing from Orkney in Scotland, to Armintza on the …

Penguin to spend winter in UK as tow hits delay Read More »

The government of Ghana has imposed its terms and conditions for the Italian oil major Eni and domestic explorer Springfield E&P for the unitisation of their adjacent oil and gas fields located in the Ghanaian offshore waters. Reuters reported on Thursday that Ghana is imposing the terms on the two companies after they failed to …

Ghana orders Eni and Springfield to combine offshore oil fields Read More »

German transmission system operator TenneT Offshore GmbH has launched a qualification system for the provision of floating units or vessels for nearshore cable failure repairs in the North Sea and the Wadden Sea. In case of a cable failure, TenneT will choose vessels as per the predefined scenario for the applicable repair preparedness plan. The …

TenneT seeks nearshore cable repair fleet Read More »

Scottish offshore wind seabed leasing process has brought together Scotland-headquartered SSE Renewables, Japanese conglomerate Marubeni Corporation, and Danish fund management company Copenhagen Infrastructure Partners (CIP). According to the latest press release from SSE Renewables, the developer has teamed up with Marubeni and CIP to work on joint bids for the ScotWind seabed leasing, managed by …

SSE, Marubeni, CIP team up for ScotWind leasing Read More »