Italy’s Saipem has agreed to merge with Norwegian rival Subsea 7 in an all-share deal to create a leading global player in offshore energy services.
https://gcaptain.com/saipem-and-subsea-7-ink-45-billion-mega-merger/
subsea 7
COLUMN | Augustus Gloop in wind? Cadeler; Integrated Wind Solutions and Sumitomo; North Star newbuild [Offshore Accounts]
The order book for the wind sector just continues getting larger and larger, even as companies continue not to make much money. Wind is the Augustus Gloop segment of offshore, gorged on investment, like the character in Roald Dahl’s Charlie and the Chocolate Factory, but liable to fall into a...
COLUMN | Winner takes it all: Boskalis binges with record profits, as Boluda takes silver and McDermott gets sued (again) [Offshore Accounts]
Whilst the first big consolidator of this offshore upcycle was Tidewater, rapidly followed by ADNOC and AD Ports of Abu Dhabi, Europe is also experiencing a quiet wave of consolidation. Driving this is the biggest of the “Big Four” lowlands dredging and offshore companies, Boskalis. But whereas the gains in Tidewater have been open to […]
The post COLUMN | Winner takes it all: Boskalis binges with record profits, as Boluda takes silver and McDermott gets sued (again) [Offshore Accounts] appeared...
Subsea 7 Awarded Major Mero 4 Field Development Contract by Petrobras
Subsea 7 S.A. has confirmed the award of a significant contract by Petrobras for the development of the Mero 4 field. The field is located approximately 200 kilometres off the…
https://gcaptain.com/subsea-7-awarded-major-petrobras-contract-mero-4/
COLUMN | More of the same: Tidewater closes Solstad deal; BW Offshore sells to Century; Acta and Bernhard Schulte order CSOVs; Scottish Ferries Fiasco [Offshore Accounts]
Tidewater’s Pac Man-like expansion continues, and the market loves the strategy. Tidewater stock finished up 10 per cent on the week on Friday, July 7, at a record high ..
Subsea 7 Initiates Takeover of Seaway 7
Subsea7, a company that provides services to offshore oil and gas industries, has reached a deal to acquire a majority of Seaway7’s remaining shares, giving it full control over its operations. Seaways7 was formed in 2021 as a new pure-play renewables company through the combination of Subsea7’s renewables business unit and Offshore Heavy Transport ASA (OHT). Under the deal, Subsea7 has agreed to buy 187,889,551 shares in Seaway7, representing 21.52% of Seaway7’s issued and outstanding share...
https://gcaptain.com/subsea-7-initiates-takeover-of-seaway-7/
COLUMN | The Twelve Days of Christmas 2022: Day 4 to 6: Global Marine, Jan de Nul, Seatankers, Østensjø Rederi, Reach; Transocean and DSME; liftboat safety [Offshore Accounts]
On the first day of Christmas my true love gave to me… a partridge in a pear tree, according to the ancient English carol, but at Baird Maritime, that’s the cue for a ..
Offshore Vessel Charters News Roundup | October 19 – PSV contracts in Western Europe, construction support in Gulf of Mexico and more
Newly awarded charter contracts include those for construction, accommodation, and maintenance vessels. Deployments will take place in the US Gulf of Mexico as well as in ..
COLUMN | Riding the rollercoaster (again): ARO, Deep Value Driller, Dolphin, UDS, MEO and Uniwise [Offshore Accounts]
Last week (here), we looked at the recovery of the drilling market, epitomised by the return to a public listing of Dolphin Drilling in Oslo on September 15. A few days l ..
Offshore Projects News Roundup | August 5 – Succession of installation works in Europe and the Americas, surveys in Eastern Hemisphere
Much of the recently awarded offshore projects involve transport and installation works in support of renewables and oil and gas operators in the UK, the European mainlan ..