Teekay Corporation has announced losses of $84.6m in the last quarter, up from a $10.4m loss in the same three months of 2012.

Offshore services provider Swissco Holdings recorded a jump in third quarter profit and is looking to expand its fleet of offshore support vessels (OSVs) on the back of firm market demand.

Cosco Corporation (Singapore) has signed a letter of intent worth more than $400m to construct two semi-submersible accommodation vessels for a subsidiary of Oslo-listed Prosafe.

Net profit for GC Rieber in the third quarter was NOK439m ($73.4m), compared to NOK60.2m in Q3 2012. The jump in profit is attributed to the sale of ice-breaker HMS Protector to the UK Ministry of Defence, which brought a gain of NOK376m.

SBM Offshore's coo, Jean-Philippe Laures, has been sacked, with the company declining to comment on the reasons for his dismissal.

Malaysian shipowner MISC reported a jump in third quarter pre-tax profits to MYR445.5m ($140m) boosted by finance lease income from an offshore project.

The United States Coast Guard's (USCG) rules for the type approval of ballast water management systems (BWMS) may have a dramatic impact on the current state of the market for such systems.

Offshore vessel owner and operator Pacific Radiance is looking to raise $124.5m from an initial public offering (IPO) on the Singapore Exchange to fund its expansion plans

Keppel FELs has inked a $1.1bn deal for five jack-up rig newbuildings from repeat customer Transocean with options for five more units.

The development of the offshore market in the Middle East and changes in world trades patterns could be of particular benefit to the GCC, according to local and international industry leaders.