Industry News

Dutch maritime design firm Vuyk Engineering has been selected by heavy-lift shipping and offshore transportation contractor Jumbo Maritime to design its newly ordered L-Class heavy-lift transport vessels.The two vessels are designed to support offshore transport and lifting operations, combining cargo transportation capabilities with lifting capacities of up to 2,400 tonnes.The L-Class vessels are intended to transport a range of heavy cargoes, including wind turbine components, modules and carousels.

DEME, through its Japanese joint venture Japan Offshore Marine (JOM), has secured a contract for the Oga–Katagami–Akita Offshore Wind Project, covering engineering work and vessel charter services for the offshore installation of 21 wind turbines.The contract forms part of an agreement between Oga Katagami Akita Offshore Green Energy and Penta-Ocean Construction.JOM will install 21 Vestas V236-15 MW turbines, marking the first deployment of 15 MW-class wind turbines in Japan and the first application of turbines of this size outside Europe…

Cheniere Energy Partners has signed a lump-sum turnkey engineering, procurement and construction (EPC) contract with Bechtel Energy for the first phase of the Sabine Pass LNG Expansion Project in Louisiana and issued a limited notice to proceed allowing early engineering and procurement work to begin.The agreement covers Phase 1 of the expansion project, including Train 7, a boil-off gas re-liquefaction unit and supporting infrastructure connected to the existing Sabine Pass LNG terminal.Phase 1 is expected to have LNG production capacity of more than 6 million tonnes per annum (mtpa)…

Japanese trading house Mitsui is looking to invest in LNG projects across the Middle East, the U.S.

Oil futures fell more than 1% on Friday and were on track for their steepest weekly decline since early April, following reports that the U.S. and Iran had reached a potential deal to extend a ceasefire.Brent crude futures for July LCOc1 fell 1.32% or $1.24 to $92.47 a barrel at 0656 GMT. U.S. oil futures CLc1 fell $1.38, or 1.55%, to $87.52 a barrel.Brent has plunged 10.5% this week - the steepest fall since the week that ended on April 6, while WTI has dropped 9.2% - the biggest weekly loss since the week that ended on April 13.Ceasefire AgreementThe U.S.

Oil prices jumped more than 2% on Thursday after Iran's Revolutionary Guards said they targeted a U.S. airbase in response to a U.S. attack in the port city of Bandar Abbas.Brent crude futures LCOc1 rose $2.34, or 2.48%, to $96.63 a barrel by 0701 GMT, while the more active August contract LCOc2 gained $2.24 or 2.43%, to $94.49. The July contract is set to expire on Friday.U.S. West Texas Intermediate futures CLc1 were up $2.26, or 2.55%, at $90.94.Both benchmarks slipped more…

Western Australian premier Roger Cook said on Wednesday he had been "assured" by federal Resources Minister Madeleine King that a new government policy of reserving 20% of gas output for domestic use would not harm his state's large LNG industry."Maddie King is a very good friend of mine, she's my local member of parliament (and) we’ve talked at length about this and she is determined to make sure that it doesn’t have an adverse impact in terms of Western Australia’s established practice…

Strategic Marine and Mainprize Offshore have signed a Protocol of Delivery and Acceptance (PODA) for the MO15 and MO16 crew transfer vessels (CTVs), extending a multi-vessel offshore renewables vessel program announced in 2024.The agreement follows the earlier delivery of the MO10, MO11, MO12 and MO14 Supa Swath vessels.The new vessels are intended to support offshore wind operations and maintenance activities in Europe as Mainprize Offshore continues expanding its fleet.The vessels…

ABL has been hired to support Esso Australia Resources as preparations advance for what the company described as Australia’s largest offshore decommissioning campaign in the Bass Strait.The Gippsland Decommissioning Campaign #1 Project is expected to involve removal of up to 13 offshore platforms beginning in 2027 using Allseas’ Pioneering Spirit vessel.Esso, a subsidiary of ExxonMobil, operates the Bass Strait assets as part of the Gippsland Basin Joint Venture. The infrastructure includes around 400 wells…

Dajin Heavy Industry, via its subsidiary Tangshan Dajin Offshore Engineering, has signed a contract with a Dutch shipowner Jumbo Maritime to build two next-generation multi-purpose heavy-lift vessels.The contract is valued at approximately $156 million and covers the design, construction and delivery of two 25,000-deadweight-tonne vessels scheduled for phased delivery in 2028 and 2029.Each vessel will measure about 163 meters in length with a beam of around 30 meters and depth of approximately 16 meters.The ships will be equipped with two heavy-lift cranes rated at 1…

Australia's Santos will prioritise LNG and oil growth in three core regions, including Alaska and Papua New Guinea, under a new strategy that also includes reducing net debt by $2.5 billion by 2030."We are now laser-focused on investment in major oil and LNG production across three regions," CEO Kevin Gallagher said while speaking at the company's 2026 Investor Briefing Day on Tuesday.The country's No.2 oil and gas producer will leverage existing infrastructure on Tier-1 basins in the three regions…

Brent crude futures rose more than 2% on Tuesday after the U.S. military carried out strikes in Iran, keeping markets on edge as a deal to end the war and open up the Strait of Hormuz remained elusive.Brent futures LCOc1 were up $2.36, or 2.5%, to $98.50 a barrel as of 0630 GMT, after settling 7% lower in the previous session.U.S. West Texas Intermediate crude CLc1 was at $91.95 a barrel, up slightly from Monday's last traded price but down $4.65, or 4.8%, from Friday's close. There was no settlement on Monday due to the U.S.

IKM Acona has been awarded a framework agreement with Vår Energi for the delivery of drilling and wells services on the Norwegian Continental Shelf.The agreement has a duration of four years, with options for an additional 2 + 2 years.The agreement covers support and advisory services within drilling and wells, including engineering studies, procedures, reporting, and project support.The scope of work includes activities within subsurface, rig intake, drilling, completion, well testing…

Copenhagen Infrastructure Partners, a Danish firm eager to invest in Italian offshore wind farms, is getting impatient.Two years after the country's 2024 law offered incentives to would-be developers to provide offshore wind capacity, the government has yet to announce a calendar for auctions it said it would hold by 2028.The inertia reflects a reluctance to embrace the transition from fossil fuels as a complex and polarised international debate pits clean energy campaigners against some governments and companies. U.S.

QatarEnergy has signed a memorandum of understanding (MoU) with the Egyptian government and ExxonMobil to study the potential development and commercialization of gas discoveries in Cyprus through Egypt’s existing gas and LNG export infrastructure.The agreement will allow the parties to study future growth opportunities and commercial frameworks linked to Egypt’s gas infrastructure and its role as a regional energy hub in the Eastern Mediterranean.The companies said the cooperation…

Energy services firm EnerMech has signed a multi-year global collaboration agreement with Norway-based technology company Optilift to expand technology-enabled crane and lifting operations across the offshore energy sector.The agreement combines Optilift’s digital lifting technologies and smart sensor systems with EnerMech’s global lifting services and offshore support network spanning 26 locations worldwide.The partnership will allow EnerMech to offer technology-enhanced crane and cargo handling services across offshore and onshore energy projects…

Oil prices edged higher on Thursday, as investors monitored peace talks between the United States and Iran, while supply tightness and U.S. inventory drawdowns provided some support.Brent crude futures LCOc1 rose 40 cents, or 0.4%, to $105.42 a barrel by 0809 GMT, and U.S. West Texas Intermediate futures CLc1 were up 50 cents, or 0.5%, at $98.76.Both benchmarks dropped around 5.6% on Wednesday to their lowest in more than a week after President Donald Trump said talks with Iran…

Guice Offshore, a leader in the offshore maritime mini supply vessel specialty market, announced the return of GO Searcher to its fleet, bringing the total number of Guice Offshore-owned vessels to 19.The GO Searcher, which has played a role in pioneering aerospace operations since 2014, is a 170-ft. multi-purpose DP1 vessel featuring a helipad. She is dually certified Subchapter L&I, as well as approved for full international operations.Currently outfitted to support aerospace recovery programs…

The UAE's new crude pipeline bypassing the Strait of Hormuz is about 50% complete, the head of ADNOC said on Wednesday, adding that global oil flows may take at least four months to recover to 80% of pre-conflict levels after the Iran war ends.Tehran has largely kept the waterway critical for global oil and gas supplies shut to all ships other than its own since U.S.-Israeli strikes on February 28, sending energy prices and inflation surging and fanning fears of an economic downturn.The Abu Dhabi Media Office revealed the existence of the new West-East Pipeline project last week…

Equinor has exercised remaining options to extend the contract for the platform supply vessel (PSV) Viking Avant from Norwegian vessel owner Eidesvik Offshore.The extension runs in direct continuation of the current contract and extends the firm charter period through the end of 2026.Viking Avant PSV was built in 2004, and has a deadweight capacity of 5,784 tonnes and a deck area of 1,010 square meters.The vessel is 92.17 meters long with a beam of 20.4 meters.

Bernhard Schulte has christened its first liquefied CO2 (LCO2) carrier, marking the company’s entry into the carbon capture and storage (CCS)-related shipping segment.The vessel, named Northern Purpose, was christened on May 19 at Dalian Shipbuilding Offshore (DSOC) in China and will support the Northern Lights CCS project, a cross-border CO2 transport and storage development in Norway.Following delivery, the vessel will enter a long-term time charter transporting captured CO2…

PALFINGER has secured a contract to supply davit cranes for five offshore converter platforms in the North Sea, expanding its presence in the offshore wind market as Europe accelerates grid infrastructure development tied to renewable energy projects.The Austrian company said it would deliver seven PF200-7m davit cranes to Spanish engineering contractor Dragados Offshore for high-voltage direct current (HVDC) converter platforms linked to projects for German transmission system operators Amprion and TenneT Germany.Under the agreement…

Cadeler has reported higher first-quarter revenue and earnings, supported by expanded offshore wind installation activity following growth in its operating fleet.The Danish offshore wind vessel operator posted revenue $145.2 million (€125 million) for the first quarter of 2026, up from $75.5 million (€65 million) in the same period last year, while EBITDA rose to $54 million (€47 million) from $27.9 million (€24 million).Fleet utilization across Cadeler’s 10 operating vessels was 47.6% during the quarter…