28682 members and growing – the largest networking group in the maritime industry!

LoginJoin

Thursday, August 22, 2019

Offshore News

About the Author: Gary Roughead, Admiral, U.S. Navy (Retired), is a former chief of U.S. Naval Operations and former Commander of the U.S. Pacific Fleet.

Privinvest’s Deliveries to Mozambique: A Model for Africa

Media reports about Mozambique’s failure to launch a fishing and security fleet and its subsequent $2 billion debt default seem destined to torpedo, or at least set back similar efforts to build needed coastal security and national fishing fleets across Africa. That must not happen.The systems and equipment Mozambique bought a few years ago from shipbuilder Privinvest could serve as a template for coastal African nations seeking to rightfully benefit from their natural resources…

Photo: MHI Vestas Offshore Wind

MHI Vestas Bags Taiwan Switchgear Deal

Wind turbine manufacturer MHI Vestas Offshore Wind has signed its third contract in Taiwan for local production as it prepares to execute 900 MW of offshore wind projects."Confirming the first electrical component for local supply in the budding offshore wind industry in Taiwan, MHI Vestas has signed a conditional agreement with Mitsubishi Electric Europe B.V., with Taiwanese manufacturer, Shihlin Electric Co., included as an integral part of the production," said a notification from the company.The contract…

Image: Topaz Energy and Marine

Topaz Revenue Climbs

Revenue of Topaz Energy and Marine of the United Arab Emirates (UAE) for the six-month period of 2019 was $235 million, an increase of 56% compared to H1 2018.Dubai-based offshore vessel operator’s first-half net income also surged to $42 million from a $4m loss recorded at the end of first six months of 2018.Earnings before interest taxes, depreciation and amortization rose by 83 percent to $141m in the first half.The global ports operator DP World acquired Topaz from Oman's…

Image: Sif Holding NV

Further Delay for Vineyard OWP

Netherlands-based provider of steel foundations to the offshore wind, Sif Holding NV  said that the Vineyard Wind, which was set to be U.S.'s largest offshore wind farm will be further delayed.Early July 2019 Sif and Vineyard Wind announced the manufacturing by Sif of 84 monopiles for Vineyard Wind’s offshore wind project (OWP) in Massachusetts USA.The installation of the monopiles is subject to a schedule that includes seasonal restrictions on pile driving activity as a protective…

File Photo: DryShips

SPII Holdings Acquires DryShips

The dry bulk shipping company based in Athens DryShips Inc. will be acquired by SPII Holdings Inc. a company controlled by George Economou, under which SPII will acquire the outstanding shares for $5.25 per share in cash, without interest.As previously disclosed, DryShips is to be merged into a subsidiary of SPII Holdings, a company controlled by DryShips’ chairman and CEO George Economou.The deal is expected to close in the fourth quarter of 2019. The $5.25 per share price represents…

Image: Port of Rotterdam

Rotterdam Port Rides High on Offshore Waves

The largest port in Europe, the Port of Rotterdam has reported a new transhipment record for the first six months of 2019 - 240.7 million tonnes, or a 3.4% increase compared to 2018.The offshore sector also made a significant contribution to the maritime activity. 440 offshore vessels, ranging from crane vessels to jack up rigs and from heavy cargo vessels to work/repair vessels, have entered the Maasmond in the past six months.The number of about 75 monthly 'port calls' by vessels…

Pic by LR, Hyundai Heavy Industries Co.

World’s First: LR Digital Type Approval to HHI

The world's largest shipbuilding company Hyundai Heavy Industries Co (HHI) has become the first to obtain a Lloyd’s Register (LR) approval for a digital component as it received green light to use the technology for its Integrated Smartship Solution (ISS).According to LR, digital type approval delivers an assurance system to provide confidence in the market for the supply of digital components and offers all the benefits of traditional type approval; reassurance on supply chain quality and robustness within the marine environment.

Photo: Port of Gdansk Authority (PGA)

PGA Plans Central Port

The Port of Gdansk Authority (PGA) has signed an agreement with a consulting company, which will support the construction of the port basing on a public-private partnership model.DS Consulting - is a company, specializing in advising public entities, which has signed a cooperation agreement with the PGA. The company has 21 years of experience in this market.PGA said that the proposed Central Port concept in Gdansk is the largest planned maritime investment in Europe.The Central Port will be a complex of 6 to 8 terminals and deep-water quays used for different purposes.

Image: BW Offshore

Brazil Okays BW Offshore's Oilfield Buy

Norwegean provider of floating production services to the oil and gas industry BW Offshore has won approval from Brazilian oil regulator ANP for the purchase of the Maromba oilfield, part of the Oslo-listed company's plan to become an operator and not just a supplier of oil services, platforms and ships.The purchase, from Chevron Corp and Petrobras, extends BW's operations in Brazil, where it already has two floating production, storage and offloading (FPSO) units.“We are proud to announce that our subsidiary BW Energy has been approved by the razilian National Agency of Petroleum…

Ronald Baczkowski is the President and Chief Executive Officer of VT Halter Marine, Inc.

Shipbuilding Interview: Ron Baczkowski, VT Halter

VT Halter in Pascagoula, MS has been on a strong run, capped by its winning the high-profile contract to build the U.S. Coast Guard’s next generation of icebreakers. Maritime Reporter recently spoke with Ron Baczkowski, President and CEO, VT Halter Marine, for insights on the shipyard’s recent success and future prospects. Globally, the shipbuilding industry has gone through some ‘interesting’ times of late. How has it looked from your perspective?The shipbuilding market and activity at VT Halter during the past 12 months has been dynamic.

Image: Iberdrola

Iberdrola Sells Stake in East Anglia One to GIG

Spanish public multinational electric utility company Iberdrola has entered into an agreement with Green Investment Group (GIG), part of Macquarie Group, to sell a 40% share in the East Anglia One offshore wind farm.The group will continue to be the majority shareholder, with 60% of this offshore wind farm, which will be one of the largest in the world when it enters into operation.According to transaction terms and conditions the entire value of EAO amounts to £4.1 billion and when the wind farm is operational in 2020…

Photo: Jumbo

Massive TP's Shipped for Taiwan Windfarm

Jumbo reports completion of a shipment of the "heaviest, tallest and the largest diameter "Transition Pieces (TP’s) it has ever transported.The TP’s were shipped for Jan De Nul Group in cooperation with brokers Multi Marine Chartering B.V. from Laem Chabang to Taichung, where they will form part of Taiwan’s Formosa 1 Phase 2 Offshore Wind Farm (OWF).The Formosa 1 OWF will have a total capacity of 128MW once built and commissioned. Phase 1 of Formosa 1 features two Siemens 4MW demonstration turbines, the first ever wind turbines to be installed off Taiwan.

Photo: Damen

Damen Delivers Stan Tug to Caspian Offshore

Caspian Offshore Construction has recently taken delivery of a Damen Stan Tug 1606 ICE class in Kazakhstan. The company turned to Damen when a contract they secured required fast delivery of a small ice class vessel.Damen was able to have the vessel – named Caspian Flora – underway to the client just six weeks following contract signing.The vessel was built at Damen Shipyards Changde in China, to a design that has proven enormously successful, with over 80 sold in the last fifteen years alone.

Marc Clayton (Photo: Dan-Bunkering)

Dan-Bunkering Staff Changes in Houston

Dan-Bunkering (America) has announced the promotion and employment of two staff members.William Cline was recently promoted to Team Leader Offshore Division. William was hired as Bunker Trader back in 2014 and has since his employment demonstrated excellent skills, especially within the offshore sector where he has been one of the key contributors to Dan-Bunkering’s growth within this particular market. As the company has clear intentions of further positioning its presence in the sector…

Sandeep Seth (Photo: Goltens)

Goltens Appoints Seth as President

The Goltens Worldwide group of companies has announced the appointment of Mr. Sandeep Seth as President. Seth first joined Goltens in 2002 and has steadily climbed the ranks, serving in positions of progressively increasing responsibility. Seth will continue to serve as a member of the Board of Directors.Seth has most recently served as the Vice President Asia Pacific and Vice President Finance of Goltens Worldwide. In these positions, he has overseen the operational, business development and financial aspects of the organization in the Asia Pacific region.

Jim Schnieders. Photo: Black & Veatch

FLNG Innovations Boost Gas Industry Growth

Liquefied natural gas (LNG) technologies, such as floating LNG (FLNG) innovations, driven by its shorter construction lead times and lower capital investment costs, are increasingly becoming a viable option for increased gas deployments.FLNG helps mitigate siting constraints that shore-based infrastructure may face, pointed out the Kansas City-based engineering firm Black & Veatch.The provider of engineering, procurement and construction (EPC) services for energy also stressed…

 Image by Highlands and Islands Enterprise

Boost for Scrabster Harbor Project

The second phase in a major upgrade of Scrabster Harbor in Caithness, the North of Scotland, has secured up to GBP3 million investment from Highlands and Islands Enterprise (HIE).The funding will enable the redevelopment of the existing St. Ola pier to create further deep-water infrastructure and meet anticipated demand from cruise ships and offshore energy supply vessels. It will place the port in an ideal position to service activity in the West of Shetland basin.A new piled quay wall and pier deck will be installed to expand the existing pier.

Photo: MSI

MSI Launches Digital 'MSI Horizon' Platform

Maritime Strategies International has unveiled MSI Horizon, a new digital platform which enables clients to access the consultancy’s proprietary macro and shipping market models and asset valuations data via a single interface.The creation of an integrated data platform means MSI clients can quickly and easily run market simulations and see the results across multiple shipping sectors.This includes creating their own forward outlook on valuations and earnings scenarios by adjusting inputs such as GDP growth and vessel supply and demand.

MacGregor Acquires TTS Group Units

Cargotec’s MacGregor business area has completed the acquisition of the marine and offshore businesses of TTS Group ASA. Cargotec announced in February 2018 an agreement to acquire the businesses for an enterprise value of approximately $96 million.Completion of the acquisition follows receipt of required approvals from the relevant countries and authorities. The acquired businesses will be integrated within MacGregor's operating structure, and their results will be consolidated into MacGregor's financial figures as of August 1…

Photo: NYK Line

Delft Technology Students Visits NYK

NYK welcomed 35 students and their professor from the Netherlands’ Delft University of Technology (TU Delft) on July 30 to examine the group’s initiatives for “Digitalization and Green,” the theme of the company’s medium-term management plan.Prof. Mirek Kaminski of TU Delft is a leading European researcher on sloshing* and has cooperated with risk assessments conducted by MTI, an NYK Group company, into sloshing on LNG carriers.The students received lectures from NYK about its digitalization and green initiatives…

Image: Eni

Neptune Acquires Interests in Offshore Indonesia

Neptune Energy East Sepinggan, subsidiary of the European exploration and production company Neptune Energy has agreed to acquire interests from the Eni East Sepinggan Limited, a unit of Eni in the Kutei basin production sharing contracts (PSC) offshore Indonesia.According to a press release from the Italian multinational oil and gas company, it  will continue to be the Operator of the area which is located in the East Sepinggan area, offshore East Kalimantan in Indonesia, and includes Merakes development and Merakes East discovery.

Image: Mammoet

Mammoet Acquires ALE

Mammoet, the privately held Dutch company specialized in engineered heavy lifting and transport of over-sized and heavy objects, said it has signed an agreement to acquire fellow international heavy lifting and transport specialist ALE.No further details will be given until after closing of the transaction, Mammoet said.Both companies are specialists in engineered heavy lifting and transport for sectors such as the petrochemical industry, renewable energy, power generation, civil construction and the offshore industry.Paul van Gelder…

Ignacio Galán, CEO Photo: Iberdrola

Iberdrola Profits Up with Contribution from OWF

Spanish public multinational utility company Iberdrola said that its gross operating profit (EBITDA) grew by 12.5% to €4.99 billion, due to the positive performances in the United States, Mexico and Brazil and the contribution of the Wikinger offshore wind farm, which amply offset lower contribution from the Networks and Renewables businesses in Spain and the Generation and Retail business in the UKGroup Chairman Ignacio Galán explained that “this double-digit growth highlights the success of our business model…

(Left to Right): Mark Fraser – CEO, Mark Cowieson – Services Director, Oteac Ltd and Gareth Forbes - CFO (Photo: Nucore Group)

Two Directors Appointed at Nucore Group

Nucore Group, based in Aberdeen, has announced the appointment of two new directors to the business, CFO for Nucore Group and Services Director for Oteac Ltd with immediate effect.Operating internationally Nucore Group brings together the knowledge, expertise and best practice to deliver innovative engineering for protecting people and assets. The group supports the oil and gas, marine, renewable energy and petrochemical industries, as well as large private and public sector clients…

“The iDiver, a Remotely Operated Robotic Diver , performs underwater inspections on vessels and underwater structures, hence eliminating the need for divers to perform hazardous tasks under water.” (Photo: Keppel)

Keppel Wins 18 Awards at WSH 2019

Keppel Group has clinched 18 awards at this year's Workplace Safety and Health (WSH) Awards, organized by the Workplace Safety and Health Council (WSHC) and Ministry of Manpower (MOM), Singapore. This is the highest number of awards won by a single organization this year. Keppel had also won the highest number of awards in 2018.Of the 18 awards, Keppel Offshore & Marine (Keppel O&M) received 12 awards under the Safety and Health Award Recognition for Projects (SHARP) category for exemplary project safety and health management systems.Keppel FELS…

NYK Super Eco Ship 2050. Pic: NYK

NYK Bulk Shipping Records Lower Profit

Japanese shipping and logistics company Nippon Yusen Kabushiki Kaisha (NYK) said that its bulk Shipping division recorded lower profit than previous year.In the first quarter of the fiscal year ending March 31, 2020 (April 1, 2019, to June 30, 2019), its revenues from the bulk shipping  amounted to 195.1 billion yen registering -11.3 decrease compared to the same period last year. The profit is down by -1.2 at 9.2 billion yen"Energy and Car transport is robust but lower dry bulk market due to production stoppage in Brazil and Western Australia…