Tag: Offshore

Shri R.K Singh, Union Minister for Power and New & Renewable Energy held a meeting today on transmission planning for offshore wind energy projects in India. Shri Alok Kumar, Secretary, Power and Shri Indu Shekhar Chaturvedi, Secretary, Ministry of New & Renewable Energy were present in the meeting. During the meeting, transmission and evacuation infrastructure required for offshore wind projects of total capacity 10 GW off the coasts of Gujarat and Tamil Nadu, was discussed. A presentation on this was made to the Minister by the Central Transmission Utility (CTU). After a detailed ... Read more

Wintermar Offshore Marine (WINS:JK) has announced results for 1Q2022. Total revenue was up 3% YOY to US$10.5 million, with stronger chartering revenues compensating for a drop in Owned Vessel revenue from COVID-19 delays. Oil prices spiked in 1Q2022 as a result of the war in Ukraine and sanctions against Russian oil and gas. The ensuing oil shortage sparked a rise in investment in oil exploration and a resurgence in drilling programs in Asia. The Company was impacted quite severely by a spike in Omicron infections on the fleet, which led to prolonged delays in the commencement of operations in international ... Read more

Wintermar Offshore Marine (WINS:JK) has announced turnaround results for 9M2021 with a net profit of US$0.49 million following a loss of US$7.44 mil in 9M2020. Stronger oil prices and measures to streamline the fleet and reduce gearing helped in turning the Company around after several years of heavy losses. In line with the positive outlook for oil prices, utilization also improved to 66% in 9M2021 compared to 63% in 9M2020. Owned Vessel Division Owned Vessel Revenue for 9M2021 was reduced by US$0.2 million to US$24.4 million compared to 9M2020. During July and August, the delta variant of COVID-19 hit Indonesia ... Read more

As part of commemorative activities of Azadi ka Amrit Mahotsav, Indian Navy is conducting an Offshore Sailing Regatta from Kochi to Goa under aegis of Indian Naval Sailing Association (INSA). Six Indian Naval Sailing Vessels (INSVs) viz Mhadei, Tarini, Bulbul, Neelkanth, Kadalpura and Hariyal will be participating in this event. The race is scheduled to start on 24 Oct 21 for a tentative duration of five days and would cover an approximate distance of 360 nm between the start point at Naval Base, Kochi to Goa. The expedition is aimed at fostering the spirit of adventure and ocean sailing for the participating crew.  ... Read more

Aker Offshore Wind and global wind and solar company, Mainstream Renewable Power (“Mainstream”) have together been selected as the preferred bidder to acquire an initial 50 percent stake in Progression Energy’s 800MW floating offshore wind project in Japan. The project is a well-formed early-stage development asset. The two companies will now enter into exclusive negotiations with Progression Energy with a view to establishing a special purpose vehicle (“SPV”) in the coming weeks, to continue collectively developing the project. As a consortium, the three companies bring together unique capabilities and experience through Aker Offshore Wind’s offshore and floating expertise, Mainstream’s global ... Read more