Industry News

Lamprell has signed an agreement with International Maritime Industries (IMI) to fabricate several offshore structures, including a production platform and jackets, at IMI's Ras Al-Khair facility in Saudi Arabia.The fabrication work forms part of an offshore engineering, procurement, construction and installation (EPCI) project being delivered by Lamprell.The agreement marks the first offshore production platform and jacket fabrication scope undertaken at IMI's Ras Al-Khair yard…

Seatrium has secured an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Excelerate Energy to convert an LNG carrier into a floating storage and regasification unit (FSRU), with an option for a second conversion.The project marks Seatrium's first EPCIC FSRU conversion contract for Excelerate Energy, with engineering work expected to begin in the fourth quarter of 2026 and delivery targeted for 2028.The contract covers the installation and integration of regasification facilities…

Oil prices settled lower on Wednesday following a choppy session after the International Energy Agency agreed to speed up a release of oil stocks and prioritize diesel in a bid to curb record-high fuel prices as the Iran war squeezes global supplies.Brent crude futures LCOc1 settled down 38 cents, or 0.38%, at $100.20 a barrel. US West Texas Intermediate (WTI) crude futures CLc1 settled down $1.16, or 1.3%, to $88.28.The IEA said completing previously announced releases as quickly as possible could bring around 100 million barrels to market…

Framo has signed a four-year agreement with Petrobras to inspect and maintain pumping systems across the Brazilian energy company's fleet of about 30 floating production, storage and offloading (FPSO) units, in what the Norwegian pump manufacturer said was its largest service contract of its kind to date.The agreement covers inspection, maintenance and training for Framo pumps installed across the fleet, including seawater lift, firewater, cargo and water injection systems.Work…

Danish contractor Cadeler has completed installation of all 76 wind turbines at the 1.2 GW Baltic Power project, Poland's first offshore wind farm, using its jack-up vessels Wind Osprey and Wind Mover.The completion of the turbine campaign moves Baltic Power into the final stages of preparation for full commissioning and operation after the project delivered first power to Poland's national grid in July 2026.Cadeler installed 76 Vestas V236-15 MW turbines at the Baltic Sea project.

Oil prices climbed on Wednesday as the market weighed supply constraints from a storm heading for US oil-producing regions and attacks by Yemen's Iran-backed Houthis on Saudi Arabia against increased supplies of Middle East crude.Brent futures LCOc1 rose 81 cents, or 0.8%, to $101.39 a barrel by 0635 GMT. US West Texas Intermediate (WTI) crude futures CLc1 gained 61 cents, or 0.7%, to $90.05 a barrel.US forecasters said on Tuesday a storm forming in the Gulf of Mexico would become…

Sumitomo Corporation Global Metals Co., Ltd. (SCGM) and TFI Marine Limited have formed a partnership to introduce innovation into mooring solutions for floating offshore wind and offshore energy projects. The partnership enables and accelerates the deployment of floating offshore wind in Japan and globally, contributing to decarbonization and energy security.Mooring systems are among the principal cost and risk drivers in floating offshore wind. As projects move into deeper water and towards commercial scale…

Solstad Offshore has exercised an option to purchase the construction support vessel (CSV) Normand Maximus for $125 million via its subsidiary, with the acquisition scheduled to be completed in October 2027.Solstad Offshore’s subsidiary Normand Maximus declared the purchase option on October 6, 2026, under a bareboat charter agreement signed with Maximus Shipping in October 2022.The agreement gave Normand Maximus the right to acquire the vessel after five years of chartering, subject to 12 months' advance notice.The bareboat charter will terminate when Maximus Shipping…

MISC has named Th’ailib, the first of three new 174,000-cubic-metre liquefied natural gas (LNG) carriers secured under long-term charter agreements with QatarEnergy, at Samsung Heavy Industries (SHI) in South Korea.Th’ailib will enter a firm 15-year charter with QatarEnergy starting in 2026, with two additional vessels scheduled for delivery as part of MISC's participation in the energy company's LNG fleet expansion programme.The three vessels form part of the second phase of the program.

Lloyd's Register (LR) has awarded Approval in Principle (AiP) to GasEntec for a floating storage and regasification unit (FSRU) concept capable of delivering up to 1 billion cubic feet of gas per day, placing it among the highest-capacity FSRU designs currently under development.The approval, presented during Gastech 2026 in Bangkok, followed LR's independent assessment of the design's technical and safety fundamentals.The FSRU features a multi-mode regasification system capable of operating in open…

MacGregor has received an order from Nantong Rainbow Offshore & Engineering Equipment to supply motion-compensated cranes and gangways for four additional Skywalker-class commissioning service operation vessels being built for IWS Fleet.The equipment package will include three-dimensional motion-compensated cranes and MacGregor's Horizon gangway systems. The order was booked in MacGregor's fourth-quarter 2026 order intake.The four CSOVs are scheduled for delivery by Nantong Rainbow…

Shipping bottlenecks, deep cuts in refinery output and inventory draws that could take years to replace will keep global oil prices high beyond this year, industry executives said at a conference in London on Monday.Following the start of the US-Israeli war on Iran at the end of February, Iran effectively closed the Strait of Hormuz, choking exports through one of the world's most crucial shipping bottlenecks.The impact has been compounded by attacks on oil and gas infrastructure…

Seatrium has been awarded the conversion of Karpowership's LNGT Akdeniz into a floating storage and regasification unit (FSRU), marking the ninth FSRU conversion project between the companies.Work on LNGT Akdeniz is scheduled to start in the first quarter of 2027, with Seatrium responsible for engineering, conversion, integration, installation and commissioning of the vessel's regasification equipment and associated systems.The converted vessel will have regasification capacity of up to 600 million standard cubic feet per day and will join the LNG fleet of Kinetics…

Norwegian shipbuilder Vard, part of Fincantieri, has opened a new design and engineering office in Ho Chi Minh City, Vietnam, and plans to grow its workforce there to more than 40 engineers in the coming years.The new Vard Design and Engineering Vietnam center brings together engineers working across structural design, piping and machinery, HVAC, naval architecture, hydrostatics, stability and marine electrical disciplines.The office expands Vard's ship design and engineering capacity in Vietnam and will work as part of the company's international design network…

Reach Subsea has exercised a one-year option to extend the charter for Deep Cygnus subsea vessel from Havila Subsea & Renewables, keeping the vessel in its fleet through March 2028.The original charter, announced in July 2022, covered a four-year period with an option for an additional year. Deep Cygnus has been part of Reach Subsea's fleet since 2023.The vessel is equipped for inspection, maintenance and repair (IMR), survey and light construction work across the offshore energy and renewables sectors.Deep Cygnus is a subsea construction…

The Strait of Hormuz will not reopen until seven Iranian conditions set out in a June interim agreement with the US are met, state media reported Iran's parliament speaker Mohammad Baqer Qalibaf as saying on Sunday.Iran presented a proposal during the UN General Assembly under which the Strait of Hormuz waterway could be reopened and normal maritime passage restored within seven days if the conditions were met, with the US replying to this proposal last week via Qatari intermediaries."The position of the Islamic Republic of Iran is completely clear and firm…

DOF Group has received a letter of intent for a contract valued at between $50 million and $100 million that would secure work for one of its I-class vessels in the first half of 2028.The scope includes DOF's in-house project management and engineering, as well as procurement and logistics support services.The company expects the full contract award to be confirmed by mid-November 2026.DOF Group did reveal any additional details regarding the client, vessel or project involved.

Dutch offshore vessel owner Acta Marine has christened its commissioning service operation vessel (CSOV) Acta Hercules in IJmuiden, the Netherlands, as the company moves closer to completing its four-vessel newbuild program.Acta Hercules was delivered earlier this year as the second vessel in the series and is already deployed under a long-term charter supporting offshore wind operations for Vestas.The vessel is equipped with methanol dual-fuel engines and an advanced battery energy storage system…

BW Offshore's blue ammonia floating production, storage and offloading (FPSO) concept, jointly developed with McDermott, has received Approval in Principle (AiP) from DNV, advancing the proposed offshore low-carbon ammonia production solution towards further design development.The AiP provides an independent, risk-based assessment of the concept at an early stage and establishes a basis for further design development, certification and classification.Unveiled in February, the…

Golden Energy Offshore Services (GEOS) has secured two new charter contracts for its large platform supply vessel (PSV) Energy Swan with a combined estimated firm value of about $8.7 million.The first contract has a firm duration of about one month, with additional options, and is scheduled to start in October 2026.The second will deploy Energy Swan on the Norwegian Continental Shelf for an estimated firm period of 290 days, with options for about another 500 days. The charter is expected to start in January 2027.If all options under the two new contracts are exercised…

Siemens Energy has contracted EST-Floattech to supply a battery system of more than 1 MWh for Marco Polo Marine's new CSOV Plus, a vessel designed to work in both offshore wind and oil and gas operations.The Octopus High Energy battery system will support hybrid and dynamic positioning operations aboard the vessel, which is being built by Marco Polo Marine at its shipyard in Batam, Indonesia. Siemens Energy is the system integrator for the hybrid power plant.During dynamic positioning…

DEME has installed the 68th and final monopile at Vattenfall's 980 MW Nordlicht I offshore wind farm in the German North Sea, completing the project's monopile installation campaign.The milestone follows installation of the first monopile in July and the first transition piece in August. DEME carried out the monopile campaign using its offshore installation vessel Orion.Nordlicht I is located about 85 kilometers north of the German island of Borkum and is set to become Germany's…

Integrated Wind Solutions (IWS) subsidiary IWS Fleet has ordered four Skywalker-class commissioning service operation vessels (CSOVs) for a combined firm yard price of around $301 million (€260 million), expanding its owned fleet from six to 10 CSOVs.The four vessels, priced at around $75 million (€65 million) each, will be built by Nantong Rainbow Offshore & Engineering Equipment and delivered in 2029 and 2030 under fixed-price turnkey contracts.IWS Fleet has also secured options for another four vessels at the same firm prices…