Search results for: Downturn

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  • 17 August 2010
    Authorities

    New England’s economic downturn is proving to be deeper and more persistent than expected, but it can rebound through a green economy, one… By Tux Turkel (onlinesentinel) [mappress] Source: onlinesentinel, August 17, 2010

  • 20 November 2017
    Business & Finance

    Siem Offshore is in talks with a potential buyer of Siem Offshore Contractors (SOC), as the parent company is considering strategic alternatives for its cable lay business amid preparation for an extended downturn in the offshore supply market.

  • 10 May 2016
    Business & Finance, R&D, Vessels

    Norwegian ship designer and shipbuilder Ulstein plans to increase its presence in the offshore wind industry after posting a NOK 95 million loss in the quarter ended 31 March 2016 due mainly to a downturn in the offshore oil and gas sector. ”The downturn in the offshore sector and a tricky market has to be met […]

  • 9 January 2012

    Reportlinker recently announced  new catalog with information on a new wind power market research. The European wind power market has experienced a tough period during the last two years due to the economic downturn and weaker demand for wind energy. At this point, project financing issues and over capacity in the market have contributed to […]

  • 26 February 2016
    Business & Finance

    Fugro posted a revenue of EUR 2.36 billion in 2015, down from EUR 2.57 billion in the previous year, due to the high volatility of the oil and gas market, on which 74% of the company’s business is focused. Nevertheless, Fugro managed to decrease its net loss to EUR 372.5 million, compared to EUR 458.9 million in 2014. Fugro’s Seabed Geosolutions division […]

  • 24 February 2017
    Business & Finance

    Fugro today reported a net loss of EUR 309 million and 1,430 jobs lost in 2016, due to low activity in the oil and gas sector. The company’s revenue amounted to EUR 1.8 billion, a 22.7% decline from the EUR 2.4 billion reported for 2015. However, offshore wind has brought several projects to the company last year.

  • 20 October 2016
    Business & Finance

    “Challenging oil and gas market” has somewhat become an inevitable reference point in financial reports of companies working in the offshore energy sector. Still, those involved in the offshore wind market usually have positive figures to report. This is also the case with Fugro, whose revenue declined by 20.4% in Q3 2016 due to the oil and gas downturn, […]

  • 6 April 2012

    ERM has been declared Global Consultant of the Year by the UK’s New Civil Engineer (NCE) and the Association for Consultancy and Engineering (ACE) Consultants of the Year Awards. The Award recognizes year of sustained growth as an employer (ie growth in number of staff) as well as growth in revenues. It also recognizes the […]

  • 11 August 2016
    Business & Finance, Grid Connection, Operations & Maintenance, Technology

    Aberdeen-based ROV operator ROVOP has won several contracts across the offshore wind and oil and gas sectors with a combined value of USD 4 million (EUR 3.6 million). The contracts are with new clients and include construction support, cable lay and protection, survey, and inspection repair and maintenance (IRM),  ROVOP said without providing any further details. The contracts […]

  • 26 March 2012

    In response to the announcement from Gamesa that they will build a major offshore wind manufacturing facility in Leith, supporting more than 800 direct jobs, Niall Stuart, Chief Executive of Scottish Renewables, said:  “This is another fantastic vote of confidence in Scotland’s renewable energy industry.  “We have fought off incredibly strong competition from other parts […]

  • 23 February 2018
    Authorities, Business & Finance

    Singapore has identified offshore wind as one of the longer-term targets in the recently published Marine & Offshore Engineering Industry Transformation Map.

  • 19 October 2014

    Billions Set to Be Invested in German Offshore Wind Projects A downturn in the German offshore wind industry could soon come to an end. RWE Abandons Galloper OWF Project RWE has recently reviewed the development status of the Galloper offshore wind farm as a ROC accredited project. GeoSea Buys HOCHTIEF’s Offshore Assets, Becomes Full Owner […]

  • 27 August 2015
    Business & Finance

    In its Q2 results, Oceanteam Shipping ASA said it is now focusing on the offshore wind market, following the prolonged downturn and the volatility in the oil and gas market. Even though the oil and gas market is challenging, other sectors, like offshore wind, show a continuous growth, Oceanteam explained. “Our competitors’ focus has shifted towards […]

  • 24 June 2016
    Business & Finance, Vessels

    Chevalier Floatels reported today that it had secured a series of contracts for offshore wind projects, thus returning its fleet to the renewables sector amidst a challenging period the oil and gas industry is currently going through. Even though Chevalier left the projects for which it was contracted unnamed, it revealed that its two accommodation vessels have each […]

  • 29 November 2017
    Business & Finance, Vessels

    Siem Offshore has terminated discussions regarding a potential sale of Siem Offshore Contractors GmbH (SOC).

  • 10 August 2012
    Business & Finance

    While many companies and traditional industries have struggled, Scotland’s renewable electricity industry has delivered capital investment of some £2.8bn since the beginning of 2009, according to new figures from Scottish Renewables. The figures are part of a new series of statistics ‘Scotland’s Renewable Energy Sector in Numbers’ published online this week.  Niall Stuart, Chief Executive […]

  • 26 April 2013

    Myton Law has advised work boat operator East Coast Charters Ltd on a £1.6 million vessel acquisition. The Hull-based specialist shipping, transport and logistics law firm was instructed by East Coast Charters to act in the purchase and financing of the newly-built ECC Challenger, which adds to the company’s fleet of multipurpose workboats providing marine […]

  • 3 January 2017
    Business & Finance

    Triton, a private equity investment company, is now the largest shareholder of DeepOcean, after the investment announced at the end of November 2016 was completed on 31 December 2016. “Through the substantial equity raise and the future support of Triton, DeepOcean is well positioned to weather the downturn in oil & gas markets and also to take advantage […]

  • 23 July 2014

    European Wind Energy Agency (EWEA) has slashed 2020 wind energy numbers in its latest report. The initial report predicted 230 GW by the end of the decade, but due to the economic downturn and regulatory instability Europe’s installed wind capacity will grow 64% to 192.5 GW, out of which offshore installations would reach almost 23.5 […]

  • 23 March 2012

    A new report from analysts Douglas-Westwood contends that over $225 billion will be spent on offshore wind power over the next four years. Over $335 billion worth of expenditure is expected over the next five years on offshore operations & maintenance according to a new report, The World Offshore Operations & Maintenance Market Forecast 2012-2016, […]

  • 17 August 2017
    Vessels

    While there is a downturn in the oil and gas market, Boskalis – which serves the offshore energy sector – can count on its flexibility, as it can tap into offshore wind with its large range of vessels and skilled personnel, according to Pieter Wijnmaalen, Commercial Manager at VBMS, Boskalis’ daughter company working in the offshore wind market. 

  • 14 October 2014
    Business & Finance

    A downturn in the German offshore wind industry could soon come to an end. After the reform of the Renewable Energy Sources Act (EEG) took the uncertainty off the market this summer, decisions for new investments of more than three billion euros had been made already and another seven billion will follow​​, German media quoted […]

  • 1 August 2014
    Business & Finance

    French energy company, Areva, was hit by the loss of EUR 373 million from discontinued renewables activities. It comes as a result of provisions for losses at completion on wind, including offshore, and solar contracts. Chief Executive Officer Luc Oursel said: “The group continues to restructure its operations in renewable energies by entering into partnerships […]

  • 25 July 2016
    Business & Finance, Vessels

    Oceanteam Shipping has appointed Holger Reurslag, an experienced offshore energy player with a 25-year career in the offshore construction, drilling and production sector, to the role of the Company Captain. As the Company Captain, Reurslag will be responsible for a wide range of managerial tasks, including the management of the vessel’s crew and the execution of quality, health, safety […]

  • 15 November 2016
    Business & Finance, Vessels

    The growth of the offshore wind industry, bringing in increased investment in new wind farms that will feature bigger components installed farther from shore, is set to spur the demand for specialist vessels, says Clarksons Research, a provider of global shipping and offshore market intelligence. These include larger installation vessels that will be able to […]

  • 13 August 2015
    Business & Finance

    Havyard Group ASA reported it is taking further measures to adapt to the market situation and maintain its profitability. All business areas in Havyard Group have been affected to a varying degree by the general downturn in the market in the oil industry, the Group said. Thus, it has been working over time on rationalisation and […]