Norwegian giant awards over $600m in subsea contracts to kickstart development wave

DOF secures TotalEnergies FSO replacement contract

Norwegian offshore vessel owner DOF has won a contract from TotalEnergies for the subsea construction, mooring, disconnection of an existing FSO, and connection of a replacement unit. The contract is for work in the Atlantic region and is part of the FSO Unity replacement project. The scope of work includes engineering, transportation and installation of

Getty pulls £2.8bn tie-up with Shutterstock after CMA orders disposal

The two companies had agreed the deal in January to create a firm worth a combined 3.7 billion US dollars (£2.8 billion).

Business leader says he hopes Greater Victoria gets fair share of submarine money

VICTORIA — The federal government’s submarine contract with a German company offers a “tremendous amount of opportunity” to propel British Columbia’s shipping industry, political and business leaders say. Prime Minister Mark Carney announced in Halifax on Monday that Canada has chosen German defence manufacturer TKMS as the preferred supplier of up 12 submarines, with both [] The post Business leader says he hopes Greater Victoria gets fair share of submarine money appeared first on Loonie Politics.

South Korea jostles with Germany for US$39 billion Canadian submarine deal

The South Korean government and defence players are making last-ditch efforts to win Canada’s next-generation submarine project worth up to 60 trillion won (US39.14 billion), as Ottawa is expected to select a preferred bidder by the end of this month. Under the Canadian Patrol Submarine Project, the Royal Canadian Navy’s ageing fleet of four Victoria-class submarines will be replaced with 12 new 3,000-tonne diesel-electric vessels. The comprehensive contract includes long-term maintenance,...

U.S. Navy buys drone boats modeled on drug smuggler design

The U.S. Naval Sea Systems Command awarded ReconCraft LLC, a boatbuilder based in Anchorage, Alaska, a 24.96 million contract for autonomous low-profile vessels, a category of uncrewed watercraft the military has openly borrowed from the same low-visibility, semi-submersible design smugglers pioneered to avoid radar and visual detection while running narcotics through open water. Autonomous low-profile []

Hanwha Ocean loses Canada bid, gains global recognition

Hanwha Ocean failed to clinch Canada’s largest-ever naval procurement project, but its head-to-head race with Germany’s Thyssenkrupp Marine Systems showed how far South Korea’s submarine industry has advanced, which may bolster its hand in future global tenders. Canada selected TKMS as the preferred supplier for its Canadian Patrol Submarine Project, a program to acquire as many as 12 diesel-electric submarines for the Royal Canadian Navy to replace its aging fleet. The decision dealt a blow to

Alva Industries raises €16M to scale its ultra-compact electric motors

Alva Industries has raised 16 million to scale production of its ultra-compact electric motors, the Trondheim based deep-tech company announced on 2 July. The round is led by Nysnø Climate Investments, Sandwater and Emerald Technology Ventures, the latter investing on behalf of the Nabtesco Technology Ventures fund. Existing backers Statkraft Ventures and EnvisionTech also took part. [] This story continues at The Next Web

Canada Picks Germany’s TKMS for 12 Submarines in Its Largest Defence Deal Ever

Canada selected Germany's TKMS to build up to 12 submarines in its largest-ever defence deal, PM Carney announced at CFB Halifax on Monday. The estimated 40-50 billion deal, made with NATO ally Norway, delivers Arctic-capable vessels by 2034 and marks a strategic turn toward European allies.

RITES shares soar 9% after bagging a $36 million locomotive supply order from South Africa

RITES shares rallied after securing a 36 million locomotive supply contract. The company also received a Rs 175.41 crore consultancy project from BBAU. These new orders will be added to RITES' growing order book. Execution of these contracts is scheduled over the next 20 to 30 months. RITES recently signed an MoU with CONCOR for terminal development services.

Ayo Dosunmu, Wolves Agree To Five-Year, $112M Deal

Ayo Dosunmu and the Minnesota Timberwolves have agreed to a five-year, 112 million contract. Dosunmu will hold a player option for Year 5 of the contract. The agreement comes hours after the Wolves traded Julius Randle to the Brooklyn Nets in order to clear salary. The Wolves traded Rob Dillingham and four second round picks to the Chicago Bulls at the deadline to acquire Dosunmu. Dosunmu averaged 14.4 points, 4.2 rebounds and 3.5 assists in 24 regular season games with the Wolves. Dosunmu is represented by Mike Lindeman.

Jacobs, Wiley|Wilson-Burns & McDonnell JV Win Navy Contracts for Architectural-Engineering Support

The Navy has awarded two companies five-year contracts worth 249 million each Work covers architectural-engineering support for the NAVFAC Washington area of operations The 2026 Navy Summit will address AI, digital engineering, enterprise network modernization and more Jacobs‘ government services business and Wiley|Wilson–Burns McDonnell joint venture have each won a potential five-year, 249 million

When a Popeyes Franchise Empire Went Bankrupt, Five Savvy Buyers Picked Up 97 Restaurants for a Steal

Sailormen Inc. built one of Popeyes' largest franchise operations, but when it filed for bankruptcy in January, opportunistic buyers swept in.

WaterBridge Infrastructure: Undervalued Company With Sights On Volume Growth In 2026

WaterBridge Infrastructure: Undervalued Company With Sights On Volume Growth In 2026

Waterton Buys South Florida Rental for $81M

Chicago-based investor Waterton has paid 80.5 million for a multifamily asset in Pembroke Pines, Fla., the buyer announced. Called the Landings at Pembroke Lakes, the garden-style property houses 358 apartments, which were built around a 45-acre lake at 10650 Washington Street, about a mile north of Pembroke Road and the neighboring town of Miramar. The []

NNPC remits N19.5tn to Federation Account in 14 months

By Obas Esiedesa, Abuja The Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, has disclosed that the company remitted N19.5 trillion to the Federation Account between April 2025 and June 2026. Speaking at the 2026 Nigeria Oil and Gas Energy Week in Abuja on Tuesday, Ojulari said the company also achieved 3.4 billion [] The post NNPC remits N19.5tn to Federation Account in 14 months appeared first on Vanguard News.

Canada's MDA Space is buying a Raytheon satellite unit for $620 million

The all-cash deal gives the Canadian firm a U.S. manufacturing footprint and a path to bid on classified defense contracts

Business in the wind power industry creates major players in the Nordics

Business in the wind power industry creates major players in the Nordics

What to Know About Devon Energy's $52.7 Million WaterBridge Stock Sale

This water infrastructure firm serving U.S. shale producers reported notable insider selling in its most recent regulatory filing.

(EDITORIAL from Korea Times on July 8)

Canada's decision to award its next-generation submarine program to Germany's Th...

First Steel Cut for Arctic Security Cutters to Homeport in Alaska

Bollinger Shipyards quietly cut steal for the first Arctic Security Cutter (ASC) planned for construction in the U.S. According to a report from the U.S. Naval Institute, Bollinger cut first steal two months before the contract was finalized. The Coast Guard finalized a 2.2 billion contract with Bollinger last week for four ASC hulls as [] The post First Steel Cut for Arctic Security Cutters to Homeport in Alaska appeared first on Must Read Alaska.

ADNOC Signs 15-Year LNG Supply Deal with Japan’s INPEX from Ruwais Project

Abu Dhabi National Oil Company (ADNOC) has signed a 15-year Sales and Purchase Agreement (SPA) with Japan’s largest exploration and production company, INPEX Corporation, to supply 1 million tons per annum (mtpa) of liquefied natural gas (LNG) from its Ruwais LNG project, according to a press release by ADNOC. The agreement was announced during a [] The post ADNOC Signs 15-Year LNG Supply Deal with Japan’s INPEX from Ruwais Project first appeared on Egypt Oil Gas.