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NABORS OFFSHORE

Hornbeck to Acquire Sea Mar Fleet From Nabors

Hornbeck Offshore Services, Inc. announced today that it has entered into a definitive asset purchase agreement with certain affiliates of Nabors Industries Ltd. to acquire 20 offshore supply vessels and their related business for cash consideration of $186m, plus the cost of any fuel inventory on such vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The Company has also agreed to purchase one 285-foot DP-2 new generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. The expected cost of this newbuild vessel, prior to allocation of construction period interest, is approximately $34.0 million, of which about $7.3 million will be paid to Nabors at closing. All of the vessels to be acquired by Hornbeck Offshore are U.S. flagged and qualify for U.S. coastwise trade under the Jones Act except for one of the conventional vessels, which is foreign-flagged. In addition, under a separate agreement and effective upon closing, Hornbeck Offshore will manage five Nabors-owned Mexican flagged vessels currently operating offshore Mexico. The Sea Mar acquisition will be funded with cash on-hand and is expected to be immediately accretive to earnings. Cash utilized for this transaction will not alter the Company's plans to fund its previously announced newbuild and conversion programs from remaining cash on-hand and


Nabors Reports Higher-Than-Expected Earnings

Nabors Industries Inc. on Thursday reported better-than-expected first-quarter earnings, propelled by a surge in demand for its drilling rig fleet and services. The Houston-based driller earned $.51 per diluted share on a quarterly record operating income of $124 million, compared with $.12 a share on $33.2 million in the year-ago quarter. Wall Street analysts polled by Thomson Financial/First Call had estimated first-quarter earnings of 45 cents a share.


NOSAC Meeting Scheduled for February 3

The National Offshore Safety Advisory Committee (NOSAC), sponsored by the U.S. Coast Guard, will conduct a teleconference meeting on February 3. The purpose of the meeting is to discuss the formation of a subcommittee on application of the Safety of Life at Sea (SOLAS) Convention to various types of offshore support vessels working in foreign locations. 70 Fed. Reg. 3051 Source: HK Law


ABS Nautical Systems Expands in the Middle East

ABS Nautical Systems has signed a contract with Arina Offshore (Fze) for use of its NS5 Enterprise software, marking the fourth new customer win in this region. The Dubai based company which specializes in vessel chartering and brokerage will utilize the Maintenance Manager module on one of its offshore vessels through the ABS Transfer of Class Agreement (TOCA) Initiative*. The TOCA Initiative offers free software to any vessel that transfers class into ABS.


CH Offshore Charter Out Two AHTS

Singapore's CH Offshore Ltd has chartered out two AHTS vessels on long term bareboat charters to an unamed company. The charter concerns the “Amethyst”, a 2007-built 12,240 brake horsepower anchor-handling tug supply vessel and the “Turquoise”, a 2007-built 12,240 brake horsepower anchor-handling tug supply vessel, for a period of three years each, with an option to purchase at the expiration of the charter. CH offshore


ABS Opens Office in Beijing

abs logo.jpg

ABS, a global provider of classification services to the marine and offshore industries, announces the opening of a new office in Beijing. This move shows ABS' determination in expanding best-in-class service for the Chinese market. This new office will allow further collaboration with government, industry, academic institutions and research organizations and is part of ABS' continued commitment to serving the growing marine and offshore industries in China.  


Six Tee Marine and Offshore Select Intergraph

Six Tee Engineering Groups has adopted Intergraph SmartMarine 3D software. The Singapore and China-based company specializes in the basic and detail design and project management of marine and offshore structures. Six Tee selected SmartMarine 3D to increase productivity and quality for its work in the basic and detail design and project management of marine and offshore structures. Six Tee projects include floating production


Ampelmann on Jumbo Javelin

Jumbo-Javelin_web.jpg

One of Jumbo Offshore’s heavy lift & installation vessels, the DP2-ship Jumbo Javelin, is preparing to deliver installation services for offshore wind farms. It will be able to ship and install Transition Pieces (TP’s) for wind turbines. The vessel will be able to carry nine TP’s at a time, each with a weight of approx. 285 tonnes. All the TP’s can be stowed vertically in the hold of the vessel and transported to the offshore location site


Kongsberg Complete J-lay DP3 Vessel Automation Retrofit

Saipem 7000 Crane Vessel: Photo credit Kongsberg Maritime

Kongsberg Maritime has completed the installation and commissioning of an integrated bridge and automation solution during a large-scale retrofit of the Saipem 7000, an advanced Semi-submersible crane and pipelaying (J-lay) DP3 vessel. The Saipem 7000 retrofit was a ‘Full Picture’ project for Kongsberg Maritime, which featured replacement of several key systems including Automation, Thruster control, Dynamic Positioning, Ballast control and Integrated Bridge System


Vallianz Bags US$300m Contract to Supply Two Platforms

Pic by Vallianz Holdings

 Singapore-listed Vallianz Holdings has won a contract worth up to US$300 million (S$405.51 million) to supply two self-elevating platforms to a large national oil company in the Middle East.   The contract from one of the world’s largest national oil companies involves the supply of two self-elevating platforms which will be used to perform well servicing for offshore platforms and well structures.  


First Vessel of New Rescue Class Launched

Photo courtesy of Craig Group

Global shipping and energy services firm, Craig Group, has launched its first F-Class vessel, the Grampian Fortress. The IMT 958 multi-role emergency response and rescue vessel (ERRV) was christened in the Balenciaga Shipyard in Northern Spain this week.  


CWind Joins National Workboat Association

Photo: CWind

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.K.   As the offshore wind industry matures and demands on workboat performance increase with


Australian PM Promises 2500 Shipbuilding Jobs

Tony Abbott, Prime Minister of Australia. Photo: Commonwealth of Australia

 Up to 2,500 shipbuilding jobs in Adelaide will be safe for "all time", the Prime Minister says, ahead of the expected announcement to build a new fleet of Navy ships worth $39 billion, reports ABC.   However, he said naval shipbuilding jobs in Adelaide would drop from about


India: Negative Outlook on Shipping Sector

Image: Shipping Corporation of India

 India Ratings and Research (Ind-Ra) has maintained a negative-to-stable outlook for the shipping sector for the current financial year.   The agency expects the performance of dry bulk and container operators to continue to be affected by weak global trade growth and persistent


ABB hands over Germany’s DolWin1

Germany’s DolWin1 Photo ABB

  DolWin1 integrates 800 megawatts (MW) of clean energy into the German transmission grid ABB, the leading power and automation technology group, has successfully commissioned and handed over the DolWin1 offshore wind grid connection to the Dutch-German transmission system operator TenneT


Damen Delivers First Twin Axe FCS for O&G

Merel-G (Photo: Damen)

Damen Maaskant Shipyards Stellendam have a decade-long relationship with the family-run Groen Offshore, Guard & Support, having built seismic research vessels and completing a majority of its repairs in the past.  On July 17, the two parties were united again in an event marking the


Offshore Wind Shift to Drive Vessel Services Cooperation

Photo courtesy of Seacat Services

Evolving procurement processes for U.K. Round 3 offshore wind farms will require a greater number of work streams, personnel with new and differing skills, and the ability to provide a larger suite of services, according to offshore energy support firm Seacat Services.


Eastern Launches Second MPSV for Hornbeck

HOS Woodland (Photo: Eastern Shipbuilding Group)

Eastern Shipbuilding Group, Inc. has launched the second of two 302’x76’x26’ multipurpose service vessels in the HOSMPSV 310ES series for Hornbeck Offshore Services, LLC., the shipbuilder announced.   The new vessel, HOS Woodland (Hull 242)


Sembcorp Marine Posts 17% Fall in Q2

Image: SembCorp Marine

 Low oil prices and muted sentiment in the industry continued to take a toll on Sembcorp Marine's second-quarter earnings.   The rigbuilder has announced that net profit for the three months ended June 30 sank 17 per cent to to $79.58 million (SGD 109 million), compared to $96


US Senate Energy Panel Votes to Lift Oil Export Ban

The U.S. Senate Energy Committee on Thursday passed a bill that would lift a decades-old ban on the export of crude oil.   The 22-member panel passed the bill to allow the United States to export oil and boost state revenue-sharing for offshore oil and gas drilling by a vote of 12-10.


AEU Presents Safety Awards

Left to right: Jimmy Burgin, AEU; Pat O’Driscoll, Levin Enterprises, Inc.; Randy Rader, RBT Welders, LLC; Nichole DeGidio, 1st Flagship, Inc.; Simon Lee, Keppel AmFELS LLC; Gus Cagigas, Diversified Port Holdings, LLC; Steve White, McGriff Seibels & Williams, broker for Linea Peninsular, Inc.; and Mike Lapeyrouse, AEU

The American Equity Underwriters, Inc. (AEU) presented its 2014 Safety Awards at the annual American Longshore Mutual Association, Ltd. (ALMA) Conference on July 19, 2015, in Key Biscayne, Fla.   AEU, which provides solutions for workers’ compensation coverage under the Longshore and


NOIA Applauds Senate Passage of OPENS Act

NOIA President Randall Luthi

NOIA President Randall Luthi issued the following statement on the Senate Energy and Natural Resources Committee’s passage of the OPENS Act, which will open new areas of the OCS to energy exploration and development, extend revenue sharing to participating coastal states


Nantong Tongbao Bags Order for 8 Chemical Tankers

Image: Nantong Tongbao Shipbuilding

 Nantong Tongbao Shipbuilding has signed shipbuilding agreements with joint buyers, Shanghai Dingheng Shipping and Xiamen Xiangyu Group, for the construction of eight chemical tankers worth RMB1bn ($160.95m)   The delivery of tankers sized from 2,000dwt to 15


Shift to Contract Labor in U.S. Maritime, Offshore Sectors Underway

Faststream US Managing Director Eric Peters

Maritime and Offshore recruiter Faststream has reported a shift in attitude towards temporary, project and consulting work following a recent survey to over 1,000 candidates in North America. While employees have been reluctant to look at moving from permanent to contract work in the past


Jonathan Appointed LOC Group's London MD

Jonathan Britain

  In line with LOC’s continual global growth and strengthening of the senior management team,  Britain has been appointed as Managing Director of the London operation. Jonathan Britain joins LOC as Managing Director, LOC London having previously headed-up Bureau Veritas’s






 
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