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BMT, a leading international design, engineering, science and management consultancy, has sold its UK-based SMART business to GreenSteam, a majority owned company of BP. The marine efficiency software solutions provider is reputable in leveraging Machine Learning methodologies and next generation fuel saving platforms to stimulate the sustainable development of Shipping and World Sea Trade.

VARD, one of the major global designers and shipbuilders of specialized vessels, announces that it has signed an agreement to provide a state-of-the-art stern trawler to Russian deepwater fishing company Luntos Co. Ltd. The vessel, a VARD 8 02 design, will feature a range of innovations to ensure optimal productivity, sustainability and operational efficiency, delivering high performance in the most demanding environmental conditions.

As automation continues to expand into diverse industrial sectors, the demand for multi-channel fiber optic cable is following suit. However, there is an increasing need for high-count, high-bandwidth fiber, capable of delivering the ever-increasing amount of data required in a single cable. This requirement is often most pressing in locations where space limitations simply won’t permit installation of extensive runs of low-count fiber, such as offshore platforms.

Almost all segments in the oilfield service sector showed gains on a quarterly basis in the second quarter of 2019, according to a recent analysis by Rystad Energy. The only exception was the land drilling segment, where revenues fell by 7% compared to the previous quarter. The decline in land drilling is driven by decreased revenues in the United States where the drilling activity is slowing down. Industry players see increased oil price uncertainty and E&P spending cuts underlying the slowdown.

Oceaneering International, Inc. has announced that it has been awarded contracts by Baker Hughes, a GE company (BHGE), and partner in the consortium for the Oil & Natural Gas Corporation of India (ONGC) KG DWN 98/2 deepwater field development in the Bay of Bengal, to supply subsea umbilical control systems. Oceaneering's scope comprises the subsea umbilical control systems to allow production of gas from fields U and R, and oil from fields A, P, and M.

Port Canaveral cargo operations notched another milestone as the brand-new chemical/oil products tanker Hafnia Guangzhou made its inaugural North American call last week, arriving at the Port’s North Cargo Pier 2 to discharge 375,000 barrels of jet fuel at the Seaport Canaveral, USA fuel storage terminal.

McDermott International, Inc. has announced it recently received unsolicited approaches to acquire all or part of Lummus Technology, McDermott's industry-leading technology business, with valuation exceeding $2.5 billion. Based on the receipt of these approaches, McDermott is exploring strategic alternatives to unlock the value of Lummus Technology while maintaining the strategic rationale of engineering, procurement and construction (EPC) pull-through.

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