Subsea World News has put together a recap of the most interesting articles from the previous week (February 16 – February 22).

French oil services provider, Technip, has recorded net income drop of 40% in the fourth quarter after adjusted non-current items, despite revenue growth.

The Company’s adjusted net income fell to 80.1 million euros from 134.5 million euros for the same period in 2013. Net income for the full year 2014 fell 22.5 percent to 436.6 million euros, compared to 563 million euros at the end of 2013.

The largest treasure of gold coins discovered in Israel was found in recent weeks on the seabed in the ancient harbor in Caesarea National Park.

The group of divers from the diving club in the harbor found the lost treasure. The divers of the Israel Antiquities Authority went together with the group of divers out to where the coins were found and using a metal detector discovered almost 2,000 gold coins in different denominations.

GC Rieber Shipping had a loss of NOK 201.4 million in the fourth quarter 2014, compared with a loss of NOK 73.5 million in the corresponding period in 2013.

The negative result in the fourth quarter 2014 is due to loss provisions for the seller’s credit to the HV V Golf companies as well as loss provisions on outstanding receivables relating to Reef Subsea amounting to a total of NOK 211.0 million.

Maersk Supply Service (MSS), part of the A.P. Moller-Maersk Group, has released an animation of the future addition to its fleet, four subsea supply vessels, to be built by COSCO (Dalian) Shipyard for over USD 470 million.

The MT6027 Marin Teknikk-design vessels will have a length of 138 metres, a beam of 27 metres and have a deadweight of 8,000t.

Subsea engineering and fabrication business, MacKellar Sub-sea Ltd, has reportedly gone into administration putting almost 100 jobs at risk.

MacKellar has fallen victim to financial pressures stemming from unspecified contracts. According to reports, Tom MacLennan and Iain Fraser of FRP Advisory have been appointed joint administrators and will continue to trade the group while they seek a buyer for the company and asset.