Near-term prospects for the deepwater sector are excellent. That’s the conclusion of an in-depth market analysis of the floating production market just completed by IMA/WER in the August 2021 Floating Production Systems Report.Asked what is driving the positive sentiment, WER’s Chairman Jim McCaul explains that, “Oil demand growth is expected to continue at a strong pace
The United States and Germany on Wednesday unveiled an agreement on the Nord Stream 2 gas pipeline under which Berlin pledged to respond to any attempt by Russia to use energy as a weapon against Ukraine and other Central and Eastern European countries.The pact aims to mitigate what critics see as the strategic dangers of the $11 billion pipeline, now 98% complete
President Joe Biden will soon order U.S. transportation agencies to crack down on anti-competitive conduct and unjust fees in the rail and sea shipping industries to try to lower costs to consumers, the White House said on Thursday.It said his executive order is aimed at the Federal Maritime Commission (FMC) and the Surface Transportation Board (STB).
Subsea energy services firm Subsea 7 said Thursday it had agreed to merge its renewables business with OHT, and Oslo-listed heavy lift and transportation vessel owner which is building a fleet of offshore wind installation vessels, too.The combined company will be renamed Seaway 7 ASA and will initially retain OHT’s listing on Oslo’s Euronext Growth market
Over 100 new offshore wind turbine and foundation installation and maintenance vessels will be required for offshore projects planned over the next decade, as the number of proposed projects grows, but also as the turbines and foundations get larger, meaning the currently available fleet won't be able to install them. What is more, most of the current fleet could become obsolete by 2025.
Iran said on Wednesday the United States had agreed to remove all sanctions on Iran's oil and shipping but Washington said "nothing is agreed until everything is agreed" in talks to revive the 2015 Iran nuclear deal.The remarks by outgoing President Hassan Rouhani's chief of staff Mahmoud Vaezi echoed previous assertions by officials in Rouhani's pragmatist camp that Washington is ready to make
The deepwater market is rapidly returning to pre-COVID-19 activity levels, and the recovery appears to be gaining strength, according to a recent in-depth analysis completed by International Maritime Associates (IMA) and World Energy Reports (WER).“Lots of green shoots have appeared,” says Jim McCaul, head of IMA/WER.
An Iranian cargo ship has come under attack in the Red Sea, Al Arabiya TV reported on Tuesday, quoting unnamed sources, and semi-official Iranian news agency Tasnim said the vessel was targeted by a limpet mine.Al Arabiya cited the sources as saying the vessel was attacked off the coast of Eritrea and was affiliated with Iran’s Revolutionary Guards
Over 300 leading companies said on Tuesday they would work together to help hundreds of thousands of merchant sailors stuck on ships for many months due to COVID-19 in a crisis that risks creating more dangers at sea.About 90% of world trade is transported by sea, and coronavirus restrictions in many jurisdictions are affecting supply chains.In December the U.N.
The U.S. Navy called off its search for a sailor missing from aircraft carrier USS Theodore Roosevelt (CVN 71) after the crewmember reportedly fell overboard off the coast of Southern California.Search and rescue efforts ended at sunset Saturday after Theodore Roosevelt, USS Bunker Hill (CG 52), USS Russell (DDG 59), USS Howard (DDG 83), USS Charleston (LCS 18), USS Portland (LPD 27) the U.S.
Ship management company V.Group has announced the appointment of Bjoern Sprotte as chief executive officer, Ship Management.Based in Hamburg and reporting directly to V.Group CEO René Kofod-Olsen, Sprotte replaces Franck Kayser, who has requested to refocus his overall responsibilities and will be assuming leadership of the Group’s activities in Denmark.Sprotte joins V.
Ship management and marine support services giant V.Group said on Wednesday it has appointed René Kofod-Olsen as the company’s chief executive officer, taking over from Graham Westgarth who will become chairman. Kofod-Olsen will join V. Group on November 1.Kofod-Olsen brings to the role almost three decades of global shipping industry experience.