GIEK Doubling Down on Offshore Wind
Tasked to provide the financial power to help Norwegian companies export their wares to the world, Wenche Nistad, CEO of the Norwegian Export Credit Guarantee Agency (GIEK) pulls no punches when asked about the appetite for investment in traditional offshore oil and gas today: “The money has disappeared…
Fred. Olsen Offshore Liftboat to Support Thor Wind Farm Seabed Tests
Fred. Olsen Windcarrier has signed a contract with the Danish firm Geo to supply an offshore liftboat for the preliminary geotechnical investigations for the Thor offshore wind project in the Danish North Sea. Fred. Olsen Windcarrier's liftboat Jill - a self-propelled DP2 vessel that can operate in the geotechnical…
EDF Begins Construction on 450 MW OWF
French utility EDF Group announced that its subsidiary EDF Renewables has launched the construction of the Scottish Neart na Gaoithe (NnG) offshore wind farm project along with the new partners, the Irish electricity company Electricity Supply Board (ESB), which is taking a 50% stake in the project.The…
Offshore wind: One-stop power conversion
With the United States and China about to start their respective offshore wind build-ups, grid operators wondering about the efficiency of their turbines or the emissions-areas compliance of their wind-service vessels will be warmed to know there’s someone they can talk to. Yaskawa’s The Switch — a Japanese…
Offshore wind: One-stop Power Conversion
With the United States and China about to start their respective offshore wind build-ups, grid operators wondering about the efficiency of their turbines or the emissions-areas compliance of their wind-service vessels will be warmed to know there’s someone they can talk to. Yaskawa’s The Switch — a Japanese…
Fred Olsen Windcarrier Debuts in Taiwan
The offshore wind parks specialist Fred Olsen Windcarrier won its first major deal in the Asian market after being picked to install the 8MW Siemens Gamesa Renewable Energy (SGRE) turbines at the Yunlin offshore wind farm off Taiwan.Fred. Olsen Windcarrier will mobilise one of its special purpose-built…
Fred. Olsen Energy Proposes to Issue New Equity in Restructuring
Norwegian drillship and rig operator Fred. Olsen Energy, proposes to sell one of its drilling units and to issue $130-140 million in new equity to pay off debt, as part of a refinancing plan published on Tuesday.The proposal includes issuing about $90 million in new loan capital, paying $580 million to settle outstanding secured debt…
Fred. Olsen Windcarrier, Seacor Team Up for US Offshore Wind Market
Falcon Global, a subsidiary of Seacor Marine Holdings and Fred. Olsen Windcarrier a wholly owned subsidiary of Bonheur ASA announced that they have reached a cooperation agreement whereby each party will exclusively contribute vessels and marine/installation crews to the market and operate a full spread…
Fred.Olsen Energy, Hyundai Settle Rig Dispute
Rig firm Fred. Olsen Energy and South Korean yard Hyundai Heavy Industries settle dispute over construction of semi-submersible rig Bollsta Dolphin. Shares in Fred. Olsen Energy up 17 percent at 0736 GMT on the news, after rising 37 percent at the opening of the Oslo bourse. Ownership of platform will…
CWind Bags Crew Transfer Contract
CWind announced that it has won an eight-month contract to provide crew transfer services to Fred Olsen at Walney 1 and 2 offshore wind farms. One of the more than 20 crew transfer vessels in the fleet operated by CWind, will assist with O&M activities at the two wind farms.
Offshore Drilling Market Dip May Prolong
The global offshore drilling market's dip could be longer than previously expected and charter rates could take until 2017 or 2018 to recover to last year's levels, the head of Maersk Drilling said on Thursday. Oil groups continue to delay projects to save cash and rig rates will fall further just as…
Maersk: Rigs Dip Could Extend to 2018
The global offshore drilling market's dip could be longer than previously expected and charter rates could take until 2017 or 2018 to recover to last year's levels, the head of Maersk Drilling said on Thursday. Oil groups continue to delay projects to save cash and rig rates will fall further just as…
Offshore Rig Firm Fred. Olsen Energy Disappoints
Norwegian oil rig operator Fred. Olsen Energy said it saw lower contracting activities in all market segments as it reported first-quarter earnings below market expectations on Wednesday. Fred.Olsen Energy, which operates floating rigs in the North Sea, Brazil and East Africa, said it had seen a decline…
