HII announced today that it has entered into a definitive agreement to acquire substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules and assemblies.
Petrobras has achieved first oil with the Floating Production Storage and Offloading (FPSO) unit Marechal Duque de Caxias, one of the largest ultra-deepwater FPSOs in the world, installed at the Mero field in Santos Basin, offshore Brazil.The FPSO has the capacity to produce up to 180,000 barrels of oil per day and compress up to 12 million cubic meters of gas daily.
Offshore drilling contractor Seadrill is looking to buy more assets or create a larger player by merging with peers, the company's CEO said on Wednesday.Norwegian-born billionaire John Fredriksen lost the control of the company, once the world's largest driller by market cap, to its creditors over two debt restructurings since 2014.
The Panama Canal expects to be ready to combat a possible new drought, which could hit the world's second-largest waterway within four years, by accommodating larger vessels, securing dedicated passage for some ships and expanding its water reservoirs' capacity, its chief, Ricaurte Vasquez, said on Monday.
A global operational alliance between two of the world’s largest container shipping companies will not go into effect next week as planned following a move by the U.S. Federal Maritime Commission to study the potential competitive impacts of the arrangement.The FMC said on Friday it is seeking more information to determine the potential competitive impacts of the proposed Gemini Cooperation
The El Nino climate phenomenon, not climate change, drove lower rainfall last year that reduced the Panama Canal's water levels and contributed to shipping restrictions that disrupted global trade, a study released on Wednesday found.Prioritizing water for human consumption rather than for the canal also played a role in shipping restrictions
The lush river valleys of El Zaino y La Arenosa in western Panama, home to hundreds of families that eke out a living farming, fishing and raising cattle, could soon be submerged by a massive man-made reservoir designed to ensure the viability of the Panama Canal in the face of a changing climate.
The lush river valleys of El Zaino y La Arenosa in western Panama, home to hundreds of families that eke out a living farming, fishing and raising cattle, could soon be submerged by a massive man-made reservoir designed to ensure the viability of the Panama Canal in the face of a changing climate.
Ocean services provider DeepOcean and well management and reservoir specialist EXCEED have entered into a collaboration agreement to supply vessel-based well plug and abandonment (P&A) services to the global decommissioning market.The two companies combine DeepOcean’s subsea engineering competence and extensive fleet of WROVs and supporting subsea vessels with EXCEEDS’s specialist well
Subsea7 in August announced it was awarded a "sizable" contract, worth between $50 million and $150 million, to perform engineering, procurement, construction, and offshore installation (EPCI) work in the U.S. Gulf of Mexico.The company revealed on social media that the contract was awarded by Shell Offshore Inc., for its Vito waterflood project.
Fishing has been a lifeline for Alejandro Alcones for the past four decades, but he now fears his small boat may be replaced by a floating solar farm on the Philippines' largest lake.Alcones is part of a group of fishermen opposed to the government's plan to place solar panels atop Laguna de Bay, one of the country's biggest sources of freshwater fish
The Panama Canal is exploring the construction of a new water reservoir that would provide capacity for 11 additional ship crossings, the administrator of the key global waterway said in a statement on Tuesday.The administration is also seeking to make its ship reservation system "more permanent," the statement added.