Author: Vibhor Gupta

  • Tanjung Offshore Secures Extension from Hibiscus Oil & Gas for PM3-CAA Project

    Tanjung Offshore Secures Extension from Hibiscus Oil & Gas for PM3-CAA Project

    Tanjung Offshore, a subsidiary of T7 Global, has secured a contract extension from Hibiscus Oil & Gas to continue providing maintenance, construction, and modification (MCM) services for the PM3 Commercial Arrangement Area (PM3-CAA) oilfield.

    The extension will see Tanjung Offshore maintain its role on the project until mid-December 2025, following the initial contract award in December 2024.

    While the financial details of the deal remain undisclosed, T7 Global noted in a filing with Bursa Malaysia that the extension is expected to contribute positively to the company’s earnings and net assets for the financial year ending December 31, 2025.

    The PM3-CAA oilfield is a transboundary project comprising three Malaysian and one Vietnamese production sharing contracts (PSCs). It includes a cluster of producing fields such as Bunga Orkid, Bunga Pakma, Bunga Raya, Bunga Seroja, Bunga Kekwa, Bunga Tulip, Bunga Lavatera, and Bunga Aster.

    These fields are developed using fixed platforms, with gas pipelines connecting to both Peninsular Malaysia and Vietnam, while crude oil is exported via FSO Orkid and FSO PM3 CAA.

    This latest contract strengthens Tanjung Offshore’s position as a key service provider in the Southeast Asian offshore energy market and underscores its ongoing partnership with Hibiscus Oil & Gas.

  • Hainan Yuzhou Orders New 12,000 DWT Deck Carrier from Yihai Heavy Industry

    Hainan Yuzhou Orders New 12,000 DWT Deck Carrier from Yihai Heavy Industry

    Chinese shipowner Hainan Yuzhou International Shipping is strengthening its foothold in the heavylift cargo market with a fresh newbuilding order at Yihai Heavy Industry, a well-established shipyard based in Yangzhou.

    The company has commissioned the construction of a 12,000 DWT heavylift deck carrier, adding to its growing fleet of specialized cargo vessels. The upcoming vessel will measure 150 meters in length and is expected to be delivered by November 2026. Specific financial details of the contract have not been disclosed.

    This latest order continues Hainan Yuzhou’s focus on niche cargo transportation. The firm currently operates two heavylift ships, including the 22,800 DWT Zhe Shan—delivered in 2023 by Wuhu Xinlian.

    The company was last in the spotlight in November 2024, when it sold its 22,500 DWT vessel Yu Zhou Shi Jia, built by Jiangsu Jiuzhou Shipbuilding, to Danish marine contractor Rohde Nielsen. The vessel now sails under the name Odin R.

    By investing in specialized tonnage, Hainan Yuzhou is positioning itself to better serve the growing demand for heavy and project cargo transport across regional and international markets.

  • DP World Commits $800 Million to Upgrade Syria’s Tartus Port

    DP World Commits $800 Million to Upgrade Syria’s Tartus Port

    Dubai-based logistics giant DP World has inked a 30-year concession with Syria’s General Authority for Land and Sea Ports to redevelop the Port of Tartus—the country’s second-largest Mediterranean gateway—with an $800 million investment Reddit.

    🔹 Deal Highlights

    🌍 Strategic & Economic Impact

    • Regional Commerce Revival: Tartus is set to become a renewed trade hub connecting Southern Europe, the MENA region, and Syria’s legacy markets Economy Middle East+15Economy Middle East+15Khaleej Times+15.
    • Post-War Rebuilding: This marks one of Syria’s most significant infrastructural steps since the civil war, aligning with a broader economic normalization Economy Middle East.
    • Investor Confidence & Geopolitics: This large-scale investment highlights renewed global investor interest—though concerns remain over equitable resource allocation and socio-political dynamics .
  • Fugro Secures Major Role in Ireland’s Offshore Grid Project

    Fugro Secures Major Role in Ireland’s Offshore Grid Project

    Ireland, July 2025 – Dutch geodata specialist Fugro has signed a seven-year framework agreement with EirGrid, Ireland’s national electricity transmission operator, to support the ambitious “Powering Up Offshore – South Coast” initiative.

    This strategic project aims to establish offshore substations and undersea cable routes that will link upcoming wind farms off Ireland’s southern coastline directly to the national grid.

    Survey Scope & Technology

    Under the agreement, Fugro will deliver a comprehensive suite of services, including:

    • Desktop assessments
    • Geophysical and geotechnical surveys
    • Environmental impact evaluations

    Field operations are scheduled to commence in July 2025, starting with geophysical and environmental studies. Data will be streamed and managed through Fugro’s cloud-based VirGeo platform, enabling real-time access and collaboration.

    Complex Terrain, Specialized Tools

    The surveyed region spans a range of challenging environments—from onshore and intertidal zones to nearshore and deep offshore areas. Fugro will deploy specialized vessels such as the Fugro Seeker and Kommander Iona, along with jack-up barges for shallow water work.

    In addition, Fugro is partnering with local Irish suppliers for services including metocean monitoring and aerial drone surveys, reinforcing its commitment to local collaboration.

    Driving Ireland’s Green Energy Vision

    This initiative plays a critical role in meeting Ireland’s Climate Action Plan, which targets generating 80% of electricity from renewables by 2030—including at least 5 GW of offshore wind capacity