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Aker BP Charters Large PSV from Solstad Offshore
Norwegian oil and gas company Aker BP has chartered Solstad Offshore's large platform supply vessel Normand Arctic.The platform supplier will be used to support Aker BP's activities on the Norwegian Continental Shelf.According to the shipowner, the contract is expected to start during the fourth quarter of 2022. The contract is for a period of 15 months. Financial information was not disclosed.Earlier this week…
TAS Terminates Shipbuilding Deals for 16 Offshore Vessels
Malaysian offshore vessel operator TAS Offshore has canceled shipbuilding contracts for 16 offshore support vessels.The company had signed the contracts in the 2013-2015 period with two Chinese shipbuilders Guangzhou Hangtong Shipbuilding and Shipping Co. Ltd. (“HangTong”) and Jiangmen Hangtong Shipbuilding Co.The contracts were for 16 offshore support vessels with values ranging from $10.38 million…
GoM Stakeholders Energized Despite Lingering Oil Bust
Gulf of Mexico vessel builders – and their customers – adapt to a lean offshore market. After oil prices plunged in late 2014 – pressured by shale output – demand for offshore vessels in the Gulf of Mexico shrank, day rates for boats fell and non-working units were idled. This year, several GoM boat builders filed for Chapter 11, or voluntary bankruptcy, while others consolidated. The most diversified companies kept their heads above water. Today, the outlook's a bit brighter.
DVB Bank Losses on Shipping
DVB, the specialist in international shipping finance, reported a consolidated net loss before taxes of EUR 506.3 million in the first six months of 2017 (previous…
Ulstein: A Century of Innovation
Ulstein, now a century old, has spent the last 100 years looking to the future. Since its formation on August 9, 1917 in Ulsteinvik, Norway, the family-owned shipbuilder, designer and systems supplier said it has focused on tomorrow’s opportunities today. Over the years, Ulstein has evolved through innovation and pioneered trailblazing solutions, driven by its desire to meet shifting customer demands, commercial openings and market challenges head-on.
Mothballed Vessels SE Asia Reflect Oil Slump Pain
Around 1,300 offshore support vessels lying idle worldwide. Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of companies…
Bourbon Posts Weak First Half Results
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year…
Bourbon's Revenues up in 2013
Net Income Group share up 174% to €115 million. Increased operating margin1 and capital gains generated €575.7 million EBITDA, up 41.7% compared to 2012. Return…
Bourbon Revenues Rise in 2013
Revenues up 10.5% vs. full year 2012 to €1.312 billion and up 6.0% vs. fourth quarter 2012 to €331.6 million impacted by U.S. • Foreign currency movements versus the Euro in 2013 (most notably versus the U.S. “2013 revenues of more than €1.3 billion, a complete range of 485 vessels with an average age of 6.2 years and the broad geographical reach of its activities makes Bourbon a leader in the offshore marine services industry,” said Christian Lefèvre, Chief Executive Officer of Bourbon.
Jaya Reports $46.1 Million Full Year Net Profit
Jaya Holdings Limited reported consolidated revenue of $201.8 million and net profit of $46.1 million for the financial year ended 30 June 2013. The group’s total revenue for the financial year under review was $201.8 million, 145% higher than the previous financial year. The increase in the group’s revenue was due to increased vessel sales and improved charter utilization. The Offshore Support Services…
BOURBON Reports Continued Growth in Q1 2013
"In a favorable context for the oil & gas and related services industry, BOURBON is continuing to grow," says CEO. Continued growth especially in the Shallow water offshore segment (+31.7%); this is due to the combined effect of the entry into service of 9 vessels in the last 12 months and improved market conditions (utilization rates and average daily rates). Signing of a 3-year contract in Trinidad…
Demand for Offshore Vessels:
Growing In Deepwater Gulf of Mexico. As the feds issue more drilling permits for the Gulf, demand for offshore support vessels in the GOM deepwater sector has accelerated, industry members say. Anger about the government's spill-related, drilling moratorium--which ended a year and a half ago--has given way to optimism recently. The region's shallow-water sector, nevertheless remains slow and gives little cause for cheer.
Demand for Offshore Vessels will Drive India’s Market
According to new analysis from Frost & Sullivan, the shipbuilding and repair market in India is poised to pick up momentum with the increasing penetration of Indian…
Strategic Marine Sells Two Crewboats
Two more aluminum crew boats being constructed “on spec” by Australian shipbuilder Strategic Marine have been sold, indicating the company’s calculated decision…
Strategic Marine to Build Eight Crewboats
Australian shipbuilder Strategic Marine is making the most of the current high demand for offshore vessels in international shipping markets by building eight aluminum crew boats on a speculative basis. In a move which is expected to boost its revenues by over $40m, the company will build six 40m vessels at its shipyard, and two 52m crew boats at its new Mexican yard at . Western Australian marine…