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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.


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.  


Statoil Green Lights Floating Wind Farm Project

Hywind Scotland illustration (Image: Statoil)

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


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


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.  


Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal

Subsea 7 awarded  contract worth over $1bn Photo Subsea 7

Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2), for the engineering, procurement, construction and installation (EPCI) of the Beatrice wind farm turbine


Eastern Launches MPSV for Harvey Gulf

Harvey Blue-Sea (Photo: Eastern Shipbuilding Group, Inc.)

Eastern Shipbuilding Group, Inc. has launched M/V Harvey Blue-Sea (Hull 250) on April 29, 2016 for Harvey Gulf International Marine, Inc. of New Orleans, La. The Harvey Blue-Sea is the second of two 340’ Class Multi-Purpose Service Vessels (MPSV), designed by VARD Marine.  


Olympic Pact with Canyon Offshore

Olympic Athene. Photo: Olympic Shipping

 Norwegian offshore shipping company Olympic Shipping has entered into a frame agreement with Canyon Offshore for the joint marketing and subsequent operation of the subsea construction vessel (SCV) Olympic Athene and Canyon’s ROV systems.  


Subsea Forestry: Separating The Wood From The Trees…

Graph: Clarksons Research

 Over the course of the last 20 years, oil and gas companies have cultivated a vast metallic forest beneath the world’s oceans, consisting now of some 5,800 installed subsea trees, says Clarksons Research.   The growth of this artificial arboretum has supported an array of


Conrad Declares Dividend

Photo Conrad Industries, Inc.

Conrad Industries, Inc. which provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas, announced today that its Board of Directors has declared a quarterly dividend of $0.10 per share of common stock


Greece to Evaluate Deep-sea O&G Exploration Bids

Greece will conclude the evaluation of deep-sea oil and gas exploration bids in the coming weeks and will name the preferred bidders soon after, its energy minister said on Friday, as the country seeks to tap into its limited oil reserves.  


Denmark, US to Partner on Offshore Wind

Photo: Denmark.dk

Denmark and the United States have signed a memorandum to strengthen cooperation on offshore wind energy projects, the U.S. Bureau of Ocean Energy Management (BOEM) announced.   On May 4, 2016 at the Embassy of Denmark in Washington, D.C


Kim Heng Offshore Inks Pact with Iran Marine

Image: Kim Heng Offshore & Marine

 The Singapore-based  offshore services provider Kim Heng Offshore & Marine has signed a memorandum of understanding with the Iran Marine Fund (IMF)to provide its technical expertise and financing to Iranian offshore marine and oil & gas projects.  


Tuco Marine Bags Wind Farm Service Boat Order

Image: Tuco Marine Group

Tuco Marine Group of Denmark informs it has inked a new order for its 11-meter wind farm service boat from the ProZero series of fast rescue boats, daughter crafts and workboats.   Tuco said the new order is from a major, but for now undisclosed, company in the European offshore market


DNV GL bags COSCO's HVDC Converter Platform Deal

DNV GL - Korea - Stoddart, Arthur William  Courtesy DNV GK

DNV GL has been awarded a contract by COSCO Shipping Company Limited (COSCO SHIPPING) of China for the installation engineering services for the BorWin gamma high voltage direct current (HVDC) converter platform. The Dutch-German transmission system operator TenneT is developing the offshore


Turnbull Tours Austal’s Western Australia Yard

Prime Minister Malcolm Turnbull was joined by Senator Linda Reynolds and Senator Chris Back for the tour of Austal’s Henderson shipyard, hosted by Austal CEO David Singleton and Chairman John Rothwell. (Image: Rod Taylor/Austal)

 Austal Limited welcomed Australian Prime Minister Malcolm Turnbull to the company’s Henderson, Western Australia shipyard, demonstrating the facility’s naval shipbuilding capabilities, innovation and export success.  


Petrofac Wins $100 Million North Sea Deal

Image: Petrofac

 Petrofac is set to build on its provision of reimbursable services for Total E&P UK following the award of an enhanced three-year contract extension on the Alwyn and Dunbar platforms in the Northern North Sea.   The contract, worth in the region of $100 million


Subsea 7 Secures EPCI Contract

Subsea 7 S.A. announced it has been awarded an engineering, procurement, construction and installation (EPCI) contract for offshore execution in 2017 and 2018.   The company disclosed no further details due to contractual obligations, but said it would announce further details in the near


Russian Shipbuilder Wins $1 bln Iran Oil Rig Deal

Russian shipbuilder Krasnye Barrikady has been awarded a near-$1 billion contract by Iran to build five offshore drilling rigs for use on Iran's part of the Gulf shelf, a company official told Reuters. The project, which was under discussion for almost two years


Bulker Loses Propulsion off California

The U.S. Coast Guard is monitoring a 587-foot bulk carrier Ultra Lascar after the ship lost propulsion at 10:20 a.m., approximately five miles offshore from Daly City, Calif.   The Singapore-flagged bulk carrier lost propulsion while operating offshore, inbound for the San Francisco Bay






 
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