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 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.
Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers investments of around NOK 2 billion, realizing a 60-70 percent cost reduction per MW from the Hywind demo project in Norway. Statoil will install a 30 MW wind turbine farm on floating structures at Buchan Deep, 25 kilometers offshore Peterhead
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.
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 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.
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
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
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.
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
Royal Boskalis Westminster N.V. said it has been awarded a contract by DONG Energy Wind Power A/S for the transport and installation of the foundations for a part of the Hornsea Offshore Wind Farm Project One. The entire wind farm will generate a total capacity of 1
Singapore's Sembcorp Marine Ltd swung to a loss in the third quarter and the rig builder's revenue was hurt by customers deferring rig deliveries amid a protracted downturn in the oil and natural gas market. The company posted a net loss of S$21.8 million ($15
MPI’s wind-turbine installation vessel (WTIV), MPI Resolution, is currently undergoing installation of leg extensions at the company’s Tees Offshore Base in Middlesbrough, UK. Following these modifications, MPI Resolution will be able to operate in water depths of up to 35m
RigNet and MODEC Sign Agreement to Deliver Fiber-equivalent O3b Satellite Connectivity to Offshore Brazilian FPSO Fleet O3b Networks, technology solutions company RigNet and floating production service provider MODEC, entered an agreement to provide high-throughput
Ulstein Design & Solutions B.V. (part of Ulstein Group) and SeaOwls B.V. are partnering to combine the former’s track record in heavy lift vessel design with the latter’s experience in jack-up technology and engineering to jointly develop the next generation self-propelled heavy
Rolls-Royce has signed a contract with Edison Chouest Offshore (ECO) worth more than $41 million to deliver propulsion and deck machinery for 13 new tugs, including five which will have a direct bollard pull of around 150 metric tons.
Bumi Armada Berhad, Malaysia-based international offshore energy facilities and services provider celebrated the naming ceremony of the Armada Olombendo Floating Production Storage and Offloading (FPSO) last weekend. Armada Olombendo FPSO represents Bumi Armada’s largest FPSO and it will
The Bureau of Ocean Energy Management (BOEM) and the Lamont-Doherty Earth Observatory (LDEO) will dedicate the Atlantic Sand Assessment Project (ASAP) core storage repository on Tuesday, October 25 at 11:00 a.m. The collection is a result of the BOEM-funded project to create a new inventory of
Gulf Island Shipyards will launch the HOS Warhorse the newest vessel of Hornbeck Offshore services. The HOS Warhorse is the first of the 400 ES Class MPSVs in Hornbeck’s fleet. The Launching ceremony will commence on Tuesday, November 1st
As previously reported, Tidewater Inc. (NYSE: TDW) has been in discussions with its principal lenders and noteholders to amend the company's various debt arrangements to obtain relief from certain covenants. Pending the resolution of those discussions
Marine transportation provider and the United States’ largest operator of OSVs, Edison Chouest Offshore (ECO), has teamed up with Damen to build 13 heavy duty mooring assistance and escort tugs. The vessels will be built in the U.S. using ECO’s network of five shipyards with support
At this year’s Offshore Energy exhibition, global deck machinery specialist ACE Winches announced a new 500te Linear Winch to its range of specialized deck equipment. The company will showcase its range of products and services supplied to European clients operating within marine
Vroon has announced that walk-to-work vessel VOS Start is to be equipped with the brand-new Barge Master Gangway. This unique combination will enable safe and efficient transfer of personnel and cargo. The Barge Master Gangway incorporates an access tower with elevator
As the oil and gas industry strives for cost effective execution in projects and operations while maintaining a high focus on safety and environmental footprint, innovative and smart solutions are needed more than ever. By extracting data and knowledge from all the detailed
Last month, a large cruise ship completed its inaugural cruise through the Northwest Passage. The historic journey brought nearly 1,700 passengers from Seward, Alaska, past the rugged wilderness and isolated villages of the Arctic, to the concrete jungle of New York City