China’s National Energy Administration (NEA) recently announced major investments in renewable power generation in the coming years, the Guardian reports. The NEA expects the installed renewable power capacity including wind, hydro, solar and nuclear power to contribute to about half of new electricity generation by 2020. This again is a clear sign that world’s largest energy market continues to shift away from coal power towards cleaner fuels.
Oslo/ Amsterdam – 28 February 2017. Oceanteam ASA has recorded US$ 11.2 million revenues from operations and an EBITDA of US$ 2.8 million in the fourth quarter of 2016. Although faced with a nett loss of US$ 3.1 million in the fourth quarter of 2016, the Dutch-Norwegian offshore service provider is fully on track for future growth, says CEO Haico Halbesma who reached an agreement on new terms with its bondholders after 2016 year ending. As a result, Oceanteam ASA, will have a significantly improved free cash flow and structural lower interest costs as from January 1st 2017, creating a healthy foundation for further growth.
KCI the Engineers, Oceanteam’s subsidiary, designed world’s biggest observation wheel, the 200+ metre-high Ain Dubai. Previously, KCI engineered 135 m and 180 m big wheels in London and New York’s Staten Island. How did KCI get involved in the Wheels business? Meet Marc Groenendijk, managing director at KCI. Groenendijk started his career at in 2005 as a senior engineer and calls himself a 'hardcore engineer'. Currently, he leads a team of over 100 employees, including the Wheels division. "An observation wheel is a true landmark; it really speaks to everyone's imagination."
On February 15, Oceanteam’s subsidiary KCI the Engineers will attend the yearly Match Making day, organised by Dutch knowledge and innovation consortium TKI Wind op Zee (WoZ). TKI WoZ is a Dutch organisation that facilitates collaboration between companies, knowledge institutions and the government in the field of wind energy. The organisation stimulates research, innovation and implementation in the wind energy industry.
Beijing-based Huadian Heavy Industries selected Oceanteam’s subsidiary KCI the Engineers for the design review, fabrication preparation, load out and installation of an offshore substation. KCI will take care of the design review of both the topside as well as the foundation. This project is the firm’s first step entering the promising Chinese renewables market.
Oceanteam ASA ("Oceanteam" or "Company") announces that joint-venture partner McDermott will exercise its option to purchase Oceanteam’s 25% ownership in the vessel-owning company North Ocean 105 AS by the end of April 2017. Under McDermott’s main credit facility agreement, it has announced that it is required to do so.
Today, Oceanteam ASA ("Oceanteam" or "Company") announced it has reached an understanding with its bond holders on the main terms of the bond loan. As part of a financial restructuring announced in October 2016, the company entered into constructive talks with its banks and its bond holders.
Wind energy becomes more and more an essential and valuable part of the world’s energy markets for the foreseeable future. The total global cumulative wind capacity will be over 705 (!) GW by the end of 2020 according to Navigant Research, a market research and consulting team that provides in-depth analysis of global clean technology markets. But something is going on, warns Navigant analyst Jesse Broehl. He notes that there are effectively two wind markets: China and the rest of the world. The split is not only in total capacity installed in a given year but also in the underlying wind turbine supplier dynamics.
According to TIME magazine, over half of the world’s new power capacity in 2015 came from renewable energy sources like wind power. In a report that was published on 25 October this year, the International Energy Agency states that renewables are beating fossil fuels for the first time. Right now, renewables represent 23% of global power generation.
A percentage that is expected to grow to 28% by 2021. According to the report, policy makers will continue to encourage the adoption of renewable power. What is Oceanteam’s role in this very promising market?
Haico Halbesma, CEO of Oceanteam ASA, Jan Willem van Bloois, Director Sales & Marketing of KCI the Engineers and Jan Rooswinkel, General Manager of OFFCO, recently signed a long-term representing and consultancy agreement. The cooperation applies to projects concerning Offshore Wind installations and cable lay operations in China, where Oceanteam Solutions and KCI will take care of the supply of marine equipment and engineering.