The floating production sector has been especially active over the past several months. Ten production floaters have been ordered since March, reports International Maritime Associates Inc. (IMA). Contracts include a $3 billion FPSO for Nigeria (a record price for an FPSO), two $1.8 billion FPSOs for Brazil, a $1.8 billion FPSO for the UK, a $1.3 billion production barge for the Congo and a $1.0 billion FPSO for the Gulf of Mexico, 269 floating production units now in service or available – This figure is 22% greater than five years ago, almost 80% higher than ten years back. FPSOs account for 61% of the existing systems. The balance is comprised of production semis, tension leg platforms, production spars, production barges and floating regasification/storage units. Thirteen units (12 FPSOs, 1 Semi) are off field and available for reuse – resulting in an overall utilization rate of 95.2%. Another 93 floating storage/offloading units (without production capability) are in service. 72 production floaters are on order – Current order backlog consists of 40 FPSOs, 6 production semis, 5 TLPs, 4 spars, 1 barge, 4 FLNGs and 12 FSRUs. Delivery of the equipment will grow the production floater inventory by 27%. In the backlog are 46 units utilizing purpose- built hulls, 26 units based on converted tanker hulls and 1 unit being modified from an existing production semi Of the production floaters being built, 41 are owned by field operators
This year Maritime Reporter & Engineering News celebrates its 75th Anniversary. Founded by in 1939, the publication today reigns as the largest audited publication serving the global maritime industry, with a circulation of more than 35,000. While the publication, with its signature size and booming red logo, easily remains our most recognizable brand, unlike 1939 when it was the stand-alone information product of the company
Top security and maritime officials from more than 22 countries will come together in New York next week to explore solutions for improving the security of international maritime trade in the United States and abroad. ”The Expo has become a truly global event, with speakers and exhibitors coming from all over the world,” said Michael Rosenberg, vice president, Security Division at E.J. Krause & Associates, the Expo organizer. “Maritime security is a crucial piece in the U.S
International law firm Watson Farley & Williams LLP (“WFW”) advised long-standing client Teekay on the successful completion of financing initiatives for Teekay Corporation and Teekay Offshore Partners LLP (“TOO”). This included assisting TOO on US$400m of secured bank financing and the raising of US$200m in fresh equity capital along with the deferment of certain bond maturity dates, whilst parent company Teekay Corp completed US$350m of bank financing and
Buffalo, N.Y. – Seebald and Associates International announced that they have been awarded a two- year contract with the Port Authority of New York and New Jersey (PANYNJ) to provide Facility Security Officer (FSO) training to approximately 400 individuals throughout the Port of New York and New Jersey. All Facility Security Officers (FSO) and alternates for companies which own or operate a designated 105 facility are required by law to be trained in accordance with 33 CFR 105
After 20 days offshore, Colton Hendrick and Blake Snapp are back on land, preparing for their next journey out on the water as new maritime interns with Higman Marine Services. And they love it. "It can be tough work at times, but the beauty is seeing the sun rise and set each day," said Snapp. Plus, the money and job security are incentives as well. Both Snapp and Hendrick stand to earn approximately $100,000 by the fifth year of their first maritime job
Greg Trauthwein, Editor and Associate Publisher, today celebrates his 50th birthday. Since first manning the editor’s desk at New Wave Media’s flagship publication Maritime Reporter & Engineering News in 1992, Greg has helped grow the publishing house’s offering of world leading b2b publications to four print titles and more than a dozen websites and e-news services collectively serving the commercial maritime, subsea industries and energy industries.
Charlottesville, Va. – A new maritime industry conference, scheduled for October, 2012, in Stamford, Conn., will provide a forum for discussion of fleet optimization and efficient ship operations, according to its organizers. The SHIPPINGInsight Fleet Optimization Conference is being co-produced by Soccoli Associates LLC, a maritime consultancy, and Rhodes Communications Inc., an international communications firm specializing in the maritime industry
The Maritime Administration (MarAd) has appointed Kevin M. Tokarski its new Associate Administrator for National Security. In his new role as associate administrator, Tokarski will provide leadership and oversight to the Office of Emergency Preparedness, the Office of Sealift Support, the Office of Ship Disposal, and the Office of Ship Operations and its three divisions: Atlantic Operations, Gulf Operations and Pacific Operations.
According to a report from the Associated Press, Somali pirates armed with rocket-propelled grenades and automatic weapons attacked a Dutch-operated container ship off the coast of Tanzania but failed to hijack the vessel, a maritime official said Dec. 7. Eight pirates in two speedboats chased and opened fire at the ship about 520 miles east of Dar es Salaam in Tanzania, starting a fire on the vessel that was quickly doused by the crew
Mitsui O.S.K. Lines, Ltd. today announced that the LNG carrier CESI Qingdao — ordered by a joint venture of MOL, China COSCO Shipping Corporation Limited and China Petroleum & Chemical Corporation (SINOPEC) — was delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd
Petrofac said it has signed a contract worth nearly $600 million with Salalah LPG SFZCO LLC (SLPG), wholly owned subsidiary of Oman Oil Facilities Development Company LLC (OOFDC), to undertake the engineering, procurement and construction (EPC) of its Salalah LPG extraction project in the southern
Laugfs Maritime Services, the shipping division of Sri Lanka’s Laugfs Gas, has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for USD 2.875 million, reports Lanka Business Online quoting company sources.
Industry security experts have concluded that maritime crime will not be stopped any time soon – and that cyber incidents would continue to expand in frequency and severity. This was the consensus at BIMCO’s first ever Maritime Security Seminar in Copenhagen.
Dr. Alberto Morandi has been appointed to the position of General Manager of GustoMSC’s office in Houston. He will be responsible for running the office and will act as point of contact for GustoMSC’s U.S. clients. GustoMSC is a design and engineering firm serving the offshore
Mermaid Maritime and China Merchants Industry Holdings (CMIH) have mutually agreed to cancel the construction contract for the construction of tender assist drilling rigs to be named ‘MTR-3’ and ‘MTR-4’ respectively.
We are in the midst of a revolution over port infrastructure. This revolution is not about the role of ports as silent engines for our economy and the need for better intermodal infrastructure. Rather, it is about why governments – local, state and federal – believe ports exist
Seadrill, a London-headquartered offshore drilling contractor, said that Asia Offshore Drilling (AOD) has received three-year contract extensions for two jack-up rigs from Saudi Aramco. The jack-ups AOD I and AOD II received three year contract extensions from Saudi Aramco
The U.S. Coast Guard has announced that commercial fuel shipping activity into the Port of Green Bay will conclude by Jan. 20, 2017. At that time, in conjunction with the Green Bay (Brown County) Port Director, the Coast Guard will signal the end of the local navigation
Cameron, a Schlumberger company, today announced the signing of two 10-year pressure control equipment management service contracts on behalf of Transocean valued at greater than $350 million. The first contract calls for Schlumberger to manage Transocean’s Cameron risers in the Gulf of
Future Care, Inc., a provider of global maritime medical management and cost containment services to the maritime community, has launched its new website www.futurecareinc.com. The revised website showcases Future Care’s Caring for the Crew program
With a view to promote the expansion of port infrastructure and facilitate trade and commerce, the proposed bill aims at decentralizing decision making and to infuse professionalism in governance of ports. The new Major Ports Authority Bill
The Standard Club introduced the International Code for Ships Operating in Polar Waters (‘Polar Code’) as well as Safety of Life at Sea (SOLAS) amendments which were adopted in November 2014, in addition to environmental provisions and MARPOL amendments which were adopted in May
Huntington Ingalls Industries’ (NYSE:HII) Ingalls Shipbuilding division launched the National Security Cutter Kimball (WMSL 756) on Saturday. Kimball is the seventh NSC Ingalls has built for the U.S. Coast Guard; christening is scheduled for March 4, 2017.
The National Coast Guard Museum Association, Inc. presented the 2016 Alexander Hamilton Award to Coast Guard veteran and founder of J.D. Power and Associates, Inc., J. David Power III, who served as an officer aboard the Coast Guard icebreaker EASTWIND during the mid-1950s.