* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, September 1, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Comanche Nation Entertainment closes casino near Devol – KSWO 7News

    Comanche Nation Entertainment Closes Casino Near Devol in Surprising Move

    Erykah Badu Announces ‘Abi & Alan’ Album With The Alchemist Will Be Delayed – yahoo.com

    Erykah Badu Opens Up About the Delay of Her Highly Anticipated ‘Abi & Alan’ Album with The Alchemist

    If You Needed Some BTS Pics Of The Rock’s Tree Trunk Legs To Spice Up Your Day, We Got ‘Em – yahoo.com

    Need a Boost? Check Out These Epic BTS Shots of The Rock’s Tree Trunk Legs!

    Sabrina Carpenter’s pearl-clutching magic? Humor – CNN

    Sabrina Carpenter’s pearl-clutching magic? Humor – CNN

    South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

    South Park Faces Major Challenges and Must Adapt Fast to Survive

    ‘Netflix House’ entertainment complexes are coming. Here’s when they open – Los Angeles Times

    Exciting News: Netflix’s House Entertainment Complexes Are Opening Soon!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    This Secret Technology Will Make The IPhone 17 Super Thin Air – VOI.ID

    How This Breakthrough Technology Will Make the iPhone 17 Incredibly Thin and Lightweight

    Gator football kicks off with excitement and new technology – WCJB | TV20

    Gator Football Kicks Off with Thrilling Action and Innovative Technology

    Marvell Technology (MRVL) Loses 18.6% as Growth Outlook Fails to Impress – Yahoo Finance

    Marvell Technology (MRVL) Loses 18.6% as Growth Outlook Fails to Impress – Yahoo Finance

    Propelling solar technology into a perovskite future – CORDIS

    Propelling solar technology into a perovskite future – CORDIS

    13 Top Technology Trends (2025) – Exploding Topics

    13 Game-Changing Technology Trends to Watch in 2025

    Japan’s legacy LCD and chip technology find new home in India – Nikkei Asia

    How Japan’s Breakthrough LCD and Chip Technologies Are Driving Innovation in India

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Comanche Nation Entertainment closes casino near Devol – KSWO 7News

    Comanche Nation Entertainment Closes Casino Near Devol in Surprising Move

    Erykah Badu Announces ‘Abi & Alan’ Album With The Alchemist Will Be Delayed – yahoo.com

    Erykah Badu Opens Up About the Delay of Her Highly Anticipated ‘Abi & Alan’ Album with The Alchemist

    If You Needed Some BTS Pics Of The Rock’s Tree Trunk Legs To Spice Up Your Day, We Got ‘Em – yahoo.com

    Need a Boost? Check Out These Epic BTS Shots of The Rock’s Tree Trunk Legs!

    Sabrina Carpenter’s pearl-clutching magic? Humor – CNN

    Sabrina Carpenter’s pearl-clutching magic? Humor – CNN

    South Park Is In Trouble And Needs To Change Course, Fast – yahoo.com

    South Park Faces Major Challenges and Must Adapt Fast to Survive

    ‘Netflix House’ entertainment complexes are coming. Here’s when they open – Los Angeles Times

    Exciting News: Netflix’s House Entertainment Complexes Are Opening Soon!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    This Secret Technology Will Make The IPhone 17 Super Thin Air – VOI.ID

    How This Breakthrough Technology Will Make the iPhone 17 Incredibly Thin and Lightweight

    Gator football kicks off with excitement and new technology – WCJB | TV20

    Gator Football Kicks Off with Thrilling Action and Innovative Technology

    Marvell Technology (MRVL) Loses 18.6% as Growth Outlook Fails to Impress – Yahoo Finance

    Marvell Technology (MRVL) Loses 18.6% as Growth Outlook Fails to Impress – Yahoo Finance

    Propelling solar technology into a perovskite future – CORDIS

    Propelling solar technology into a perovskite future – CORDIS

    13 Top Technology Trends (2025) – Exploding Topics

    13 Game-Changing Technology Trends to Watch in 2025

    Japan’s legacy LCD and chip technology find new home in India – Nikkei Asia

    How Japan’s Breakthrough LCD and Chip Technologies Are Driving Innovation in India

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

‘Strong demand’ for MMA’s vessels and subsea services from both oil & gas and offshore wind

February 24, 2024
in News
‘Strong demand’ for MMA’s vessels and subsea services from both oil & gas and offshore wind
Share on FacebookShare on Twitter

Home Subsea ‘Strong demand’ for MMA’s vessels and subsea services from both oil & gas and offshore wind

MMA Offshore reported strong demand for its vessels and services in the first FY2024 half-year. With newbuild vessel orders at a historic low and limited additional vessel supply anticipated in the coming couple of years, the Australia-headquartered company said it was expecting favorable market conditions to continue.

Source: MMA Offshore

For the half year, MMA Offshore reported revenue of $204.3 million, up 28% on the previous corresponding period, EBITDA of $63.3 million, up 97%, and net profit after tax (NPAT) of $62.5 million which included an impairment reversal of $23 million.

At a macro level, the company said market conditions continue to be buoyant with strong demand from both the oil & gas and offshore wind sectors. Demand for both MMA’s vessels and subsea services was strong throughout the first half with positive momentum continuing.

“The medium-term outlook for offshore activity remains strong with over US$500 billion in greenfield oil and gas projects forecast to be sanctioned globally over the next five years including over US$180 billion in our key operating regions,” said MMA’s Managing Director David Ross.

“The offshore wind sector is also seeing unprecedented growth in our operating regions with more than 5,000 turbines expected to be installed in the Asia Pacific alone between 2024 and 2031.”

For its subsea business, MMA reported an “excellent first half”, delivering a 91% increase in EBITDA to $10.3 million as a result of improved margins and enhanced project delivery, and similarly, the vessel business delivered a strong result, generating a 74% increase in EBITDA to $57 million, on the back of solid utilization and strengthening rates.

According to Ross, newbuild vessel orders are at a historic low, and with limited additional vessel supply expected to enter the market in the coming two to three years, favorable market conditions are expected to continue.

“With earnings improving and vessel values continuing to increase globally, we reversed the remaining $23 million in prior years’ vessel impairments during the half. This unwinds all remaining vessel impairments recorded in previous financial years,” Ross said.

MMA recently added two new vessels to its fleet with the purchase of the Offshore Solution multi-purpose support vessel (MPSV) which was funded through cash reserves and has been utilized by the subsea division since joining the fleet. Reactivation of the previously chartered vessel MMA Harmony was recently completed with the vessel joining the fleet and commencing its first contract this month, contributing to second-half earnings.

The company also reported that its diversification strategy continues to progress very well, with more than 50% of first-half revenue generated from outside of traditional oil & gas markets, including approximately 25% from offshore wind, 10% from government and defense, and 14% from decommissioning services. Furthermore, approximately 50% of the first half revenue was generated from outside of Australia/New Zealand.

Posted: 3 months ago

In the second half, MMA said it was expecting market conditions to continue being positive with momentum in all of its key markets. According to Ross, both the vessel and subsea business have contracted well through the traditional monsoon period and into the second half, with second-half earnings currently anticipated to be in line with the first half.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : OffshoreEnergy – https://www.offshore-energy.biz/strong-demand-for-mmas-vessels-and-subsea-services-from-both-oil-gas-and-offshore-wind/

Tags: DemandnewsStrong
Previous Post

MPA shortlists 11 proposals for design of fully electric harbor craft

Next Post

Noble’s CEO sees ‘highly encouraging’ signs ahead for its fleet thanks to surge in rig demand

Sky High Farm’s Biennial Blends Art, Agriculture and Ecological Urgency – observer.com

Sky High Farm’s Biennial Blends Art, Agriculture and Ecological Urgency – observer.com

September 1, 2025

After 150 Job Applications and Rescinded Offers, Computer Science Grads Face an Unforgiving Job Market

September 1, 2025
Proportion of US students taking chemistry fails to keep pace with other science disciplines – Chemistry World

Why Fewer US Students Are Choosing Chemistry Compared to Other Sciences

September 1, 2025
Going zero-waste for a month opened my eyes — here are 7 lessons I wish I knew sooner – VegOut

7 Eye-Opening Lessons I Learned from Living Zero-Waste for a Month

September 1, 2025
This Secret Technology Will Make The IPhone 17 Super Thin Air – VOI.ID

How This Breakthrough Technology Will Make the iPhone 17 Incredibly Thin and Lightweight

September 1, 2025
2 men shot and killed at Don Knabe Community Regional Park in Cerritos – ABC7 Los Angeles

2 men shot and killed at Don Knabe Community Regional Park in Cerritos – ABC7 Los Angeles

September 1, 2025
More drama to come after Australia, USA ignite Women’s Rugby World Cup – ESPN

More drama to come after Australia, USA ignite Women’s Rugby World Cup – ESPN

September 1, 2025
India Was the Economic Alternative to China. Trump Ended That. – The New York Times

How Trump’s Policies Disrupted India’s Bid to Challenge China as an Economic Powerhouse

September 1, 2025
Comanche Nation Entertainment closes casino near Devol – KSWO 7News

Comanche Nation Entertainment Closes Casino Near Devol in Surprising Move

September 1, 2025
White House names RFK Jr deputy Jim O’Neill as replacement CDC director – BBC

White House names RFK Jr deputy Jim O’Neill as replacement CDC director – BBC

September 1, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (801)
  • Economy (819)
  • Entertainment (21,699)
  • General (16,793)
  • Health (9,860)
  • Lifestyle (834)
  • News (22,149)
  • People (821)
  • Politics (827)
  • Science (16,030)
  • Sports (21,318)
  • Technology (15,800)
  • World (800)

Recent News

Sky High Farm’s Biennial Blends Art, Agriculture and Ecological Urgency – observer.com

Sky High Farm’s Biennial Blends Art, Agriculture and Ecological Urgency – observer.com

September 1, 2025

After 150 Job Applications and Rescinded Offers, Computer Science Grads Face an Unforgiving Job Market

September 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version