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Gulf LNG Tugs to Provide Towage at Texas LNG Terminal in Brownsville
Gulf LNG Tugs of Texas has been selected to provide towage services for the Texas LNG export terminal to be constructed in the Port of Brownsville.Gulf LNG Tugs, a consortium of Suderman & Young Towing Company, Bay-Houston Towing, and Moran Towing Corporation, will build, deliver and operate tugboats under a long term agreement to assist LNG carriers arriving at the facility.Texas LNG will be a 4 million…
Cyan Renewables Enters UK Offshore Wind Market with Sentinel Buy
Cyan Renewables, a portfolio company of Seraya Partners, has acquired a majority stake in Sentinel Marine to strengthen its position in the UK offshore wind market and boost its local content.Singapore-based Cyan Renewables, Asia’s first dedicated offshore wind vessel operator, has reached an agreement to acquire a 75% stake in Sentinel Marine, a maritime environmental response vessel operator in the…
Bibby Marine to Build Zero-emission eSOV
Bibby Marine and its consortium partners are moving forward with plans to build the world’s first zero-emission electric service operation vessel (eSOV) after securing funding for the project from the Zero Emission Vessel Infrastructure (ZEVI) competition.The award, announced Monday at London International Shipping Week, comprises of match funding to build the pioneering vessel, which will operate…
New York Quarry to Provide Rock for Empire Wind Offshore Projects
Great Lakes Dredge & Dock Corporation has signed the first ever subcontract for rock procurement for a U.S. offshore wind farm with Carver Sand & Gravel LLC (“Carver”), a U.S. quarry in the state of New York.Through this subcontract, Great Lakes will use rock produced in the State of New York to provide scour protection for offshore wind turbine foundations, and substations at Equinor and BP's Empire Wind I and Empire Wind II wind farms.
Mainstay Marine to Build Crew Transfer Vessel for Seacat Services
Offshore energy support vessel operator Seacat Services has partnered up with marine engineering firm Mainstay Marine Solutions, to build the 20th vessel in its fleet, and the fifth Seacat Chartwell Ambitious design.The partnership comes amidst ongoing complexities in the UK shipbuilding market, where skill shortages and a lack of financial support from the UK Government have driven up manufacturing costs and derailed local content goals across the industry…
2023 US Shipbuilding Report
Much has changed since Marine News’ 2022 shipbuilding report published in March last year, and business opportunities in certain market segments continue to grow. But the shipyards that are looking to cash in are still facing many of the same challenges.For example, many American shipyards and their partners throughout the shipbuilding supply chain are still finding it difficult to attract and retain the workers they need.
Tethys Marine & Logistics Becomes 51% Shareholder of OSV Firm Bourbon Guyana
Bourbon Marine & Logistics has partnered with the Guyanese company Tethys Marine & Logistics, which becomes a 51% shareholder of the Bourbon Guyana Joint Venture. "With 75% Guyanese Directors, Bourbon Guyana thus becomes the first indigenous Offshore Support Vessels operator, fully compliant with the most recent local content regulations," Bourbon Marine & Logistics said."With a fleet of 6 vessels (Large PSV…
EVENT: Reuters U.S. Offshore Wind Returns to Boston
Reuters Events has officially launched their flagship offshore wind event, US Offshore Wind 2023 (USOW23) being held in the Hynes Convention Center, Boston, July 11-12, 2023.The event will unite more than 1000 offshore wind developers, utilities, OEMs, financiers, and supply chain executives, hosting industry-breaking discussions covering all corners of project development, from permitting through to construction.Click here to see the Speaker and Agenda line-upU.S.
The Top 10 Offshore Wind Energy Trends to Watch in 2023
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds. As we prepare for the new year, let us look at ten factors that will shape the offshore wind sector in 2023.1. Solid foundations: Optimism for the…
First US Floating Wind Auction Closes
Five developers selected to build the first floating wind farms in U.S. federal watersTo support the California Energy Commission’s planning goals of 2-5 GW of offshore wind by 2030 and 25 GW by 2045 as well as a federal target to deploy 15 GW of floating wind by 2035, the Bureau of Ocean Energy Management (BOEM) has concluded the auction date for five 33-year leases offshore California. Exhibit 1…
Intelatus: Almost 30,000 Offshore Wind Turbines to Be Installed by 2035
Over the last few years, many statements have been made concerning growth in offshore wind turbine and foundation installation demand. These statements have been followed, in some cases, by firm orders for high-specification vessels, mainly from established players. However, many of the announcements remain unconverted into shipyard orders.According to a new report released by Intelatus Global Partners…
Financing and Bankability of Offshore Wind Vessels
In our first article we highlighted some of the key contractual considerations facing shipowners looking to construct and charter offshore wind vessels. In this article we explore some of the considerations concerning the financing and bankability of offshore wind vessels. We have seen a diverse group of financiers interested in financing vessels in the offshore wind sector and, while the nature of the financing available will depend to a large extent on the employment of the vessel…
Floating Offshore Wind: Equinor, Technip Energies to Collaborate on Floating Wind Substructures
A collaboration between Equinor and Technip Energies on Floating Wind Substructures was announced during the Seanergy conference in Normandie, France.The collaboration is intent on building on the two companies’ joint ambition of driving the industrialization of floating offshore wind. “We see longer-term collaboration from an early phase as the next step within floating offshore wind development," said Mette H. Ottøy, chief procurement officer, Equinor.
SOS (Save our Shipbuilding): Germany’s VSM Calls for Reduction of Dependence on China
As the geopolitical landscape continues to quickly transform with the Russia/Ukraine war, Europe's over-dependence on Russian energy has become painfully apparent. VSM – the German Shipbuilding and Ocean Industries Association that represents the political and commercial interests of the German maritime over a diversity of maritime market segments – issued the following statement and overview of the global shipbuilding market…
Damen Shipyards Delivers Multi-Mission Inshore Patrol Vessel to S. Africa Navy
Damen Shipyards has delivered the first of three 62m by 11m Multi-Mission Inshore Patrol Vessels (MMIPVs) to the South African Navy, at a ceremony held at Simon's Town Naval Base in South Africa."The vessel marks the culmination of four years of work for Damen Shipyards Cape Town (DSCT). The vessel being delivered will augment South Africa’s maritime security by enhancing the country’s capability to respond effectively…
Guyana in 'No Rush' to Draft New Offshore Oil Production Sharing Agreement
Guyana is in "no rush" to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output.The government of South America's newest crude oil producer said in 2021 it was planning a new agreement to revamp terms and boost royalties for future oil and gas projects. The proposed…
Great Lakes Dredge & Dock's 1Q Profit, Revenue Rise
Great Lakes Dredge & Dock Corporation reported a first-quarter net income of 11.1 million in the first quarter of 2022 an increase compared to first-quarter 2021 income of $8.8 million.Revenue for the quarter was $194.3 million, an increase of $16.7 million from the first quarter of 2021. The higher revenue in the first quarter of 2022 was due to higher domestic capital and coastal protection revenue…
Great Lakes Dredge & Dock, Van Oord Win Empire Wind Rock Installation Project
Houston-based Great Lakes Dredge & Dock Corporation on Monday announced it has been selected with Dutch offshore services firm Van Oord to perform the subsea rock installation work for Equinor and bp's Empire Wind I and II wind farms off the U.S. East Coast.Great Lakes will use the first Jones Act compliant subsea rock installation vessel, currently under construction at the Philly Shipyard in the U.S.…
More Shuttle Tankers Needed, Rystad Says
More shuttle tankers will be needed in the years ahead to keep pace with a projected rise in oil volumes needing transport, Rystad Energy said.Produced volumes requiring transport key shuttle tanker markets Brazil, Canada, Norway, the U.K. and Russia are expected to rise to 3.3 billion barrels per year before the end of the decade, jumping 35% from 2.5 billion in 2021, according to a recent report…
Building a New Fleet: CTVs for US Offshore Wind
The U.S. has big plans for its offshore wind industry, and shipbuilders like Blount Boats and others are ramping up to capitalize on the unprecedented opportunity.Earlier this year, the Biden Administration unveiled its goal to have 30 gigawatts (GW) of offshore wind power installed and in development in the U.S. by 2030. The announcement, which included plans to open new areas to development, accelerate permits and boost public financing for projects…