Marine Link
Monday, March 18, 2024
SUBSCRIBE

Sea Supply News

08 Aug 2023

After Attacking Ukraine Wheat Exports, Russia Faces Own Shipping Challenge

© olgavolodina / Adobe Stock

Russia's lack of ships and Western grain traders' shrinking appetite for business with Moscow are adding to rising costs of moving Russian wheat, at a time when the war in Ukraine has spilled perilously close to vital Black Sea supply routes.President Vladimir Putin promised to replace Ukrainian grain with Russian shipments to Africa after Moscow in July ended an arrangement that gave Ukraine's food cargo safe passage in the Black Sea, imposing a de-facto blockade on its neighbour and attacking storage facilities…

09 Dec 2022

In a First, Scottish Port Set to Offer Shore Power for Offshore Vessels

©MPA

Montrose Port Authority says the port is set to become the first Scottish port to provide shore power infrastructure to the energy sector.To enable shore power to offshore energy industry vessels, the port has partnered with with Plug Shore Power Ltd in a 50/50 joint venture. The partnership will see an initial investment of £1 million into the joint venture which will be named Plug Montrose Ltd."Global shipping accounted for 833 million tonnes of CO2 in 2021. Currently only two British ports are equipped with shore power.

21 Dec 2021

Austal USA Wins Navy Contract for NGLS Design Study

Rusty Murdaugh (Photo: Austal USA)

Austal USA said it was awarded a contract to perform design studies for the U.S. Navy’s Next Generation Logistics Ship (NGLS) program. This contract requires Austal to develop a new baseline design and perform specific trade studies for the Navy’s newest logistics ship. Austal, as the shipbuilder and design agent, will be the prime contractor.“Austal is excited to begin work on another U.S. Navy steel shipbuilding program,” Austal USA President Rusty Murdaugh said. “This contract…

09 Nov 2021

Emission Reduction: Eidesvik, Aker BP, Alma to Test Ammonia Fuel Cell Tech on Offshore Vessels

Credit: Eidesvik Offshore

Eidesvik Offshore, a Norwegian offshore support vessel owner, has signed a deal with oil firm Aker BP and Alma to investigate the possibility of using Alma's fuel cell technology to accelerate the transition to zero-emission shipping.Alma is a venture under establishment by Aker Group's recently formed platform for venture capital in industrial technology Clara Venture Labs. Under the agreement, the companies will explore retrofit installation of Alma’s ammonia fuel cell technology…

09 Sep 2021

Fleet Trimming Continues as Solstad Sells AHTS Sea Ocelot

Norwegian offshore vessel owner Solstad Offshore has sold another non-core vessel as part of its plan to trim its fleet and make it more competitive.It said Thursday it had sold the AHTS Sea Ocelot to an unnamed buyer. The 70 meters long vessel, built in 2007, was sold through Solstad's subsidiary Deep Sea Supply Labuan II."Delivery of the vessel to the new owner took place today September 9th, 2021. The sale of the vessel will result in an immaterial accounting effect for Q3 -2021," Solstad offshore said, without sharing the sale price.

09 Sep 2021

Solstad Sells Sea Panther AHTS for Recycling

Credit: Solstad Offshore

Norwegian offshore vessel operator Solstad Offshore said Friday it had sold its AHTS Sea Panther vessel for recycling.The vessel was sold through Solstad Offshore's subsidiary Solstad Rederi, and the delivery to the buyer took place today August 20th, 2021."The sale of the vessel will result in an immaterial accounting effect for Q3 -2021," Solstad Offshore said, without sharing the sale price."Solstad Offshore ASA is considering several vessels for green recycling as a part of our efforts to be in the forefront of sustainable and [environmentally] optimal operations.

04 Feb 2021

Solstad Offshore Sells Three Platform Supply Vessels

Credit: Solstad Offshore

Norwegian offshore vessel owner Solstad Offshore has sold three platform supply vessels.The vessels, sold by Solstad's Deep Sea Supply Shipowning AS and Deep Sea Supply Shipowning I AS subsidiaries, are the Sea Angler built in 2007, the Sea Bass built in 2008, and the Sea Turbot, also built in 2008."Delivery of the vessels to the new owner took place today Thursday, February 4th, 2021. The sale of the vessels will result in an immaterial accounting effect for 1Q 2021," Solstad Offshore said.The company did not say who the new owner was nor what the sale price for the PSV trio was.

21 Jun 2019

​Sverre Farstad Picks Up Blue King PSV

The 2016-built Blue King (Photo courtesy of Ulstein Verft)

The new ship owning company Sverre Farstad & Co has taken ownership of a 2016-built platform supply vessel (PSV), marking a return for the Farstad name in the Norwegian offshore sector.Farstad was one of the parties behind the June 2017 three-way merger of Norwegian ship owners Solstad Offshore, Farstad Shipping and Deep Sea Supply. The new company had been called SolstadFarstad, but the Farstad name was dropped in October 2018 when the company changed its name to Solstad Offshore.Now the Farstad family is returning to the offshore support vessel (OSV) business with Blue King…

12 Sep 2018

Offshore Optimism is Cautiously on the Rise

file Image (CREDIT: Harvey Gulf)

Following the path of oil prices, consolidation also follows myriad financial crises. What happens next isn’t altogether clear, but the long, deep trough for offshore energy may finally be in our choppy wake.In mid 2017, financial turnaround and financial repairs specialist Alix Partners made a bold statement regarding the beleaguered Offshore Service Vessel (OSV) marketplace. In a July 2017 report, following an analysis of 44 participants in the business, the restructuring team wrote: “The industry faces grave financial pressure…

24 May 2018

DESS Aquaculture Adds New 60M Harvest Vessel

DESS Aquaculture Shipping AS, a joint venture between Solstad Farstad ASA (SOFF) and Marine Harvest ASA, took delivery of the harvest vessel “Aqua Merdø” on May 24th 2018.    The vessel will commence its 10-year charter contract with Marine Harvest upon delivery at location within few days.   “Aqua Merdø” is developed in close collaboration between the owners and Salt Ship Design and has been built by Myklebust Verft, Norway. Long term financing of “Aqua Merdø” is arranged by ABN AMRO Bank N.V.   “Aqua Merdø” is a harvest vessel with a capacity of handling up to 20,000 fish per hour, and transport up to 400 tons of fish to the processing plant.   DESS Aquaculture Shipping was established in June 2016 as a joint venture between Marine Harvest and Deep Sea Supply.

01 Mar 2018

SolstadFarstad, Yxney Maritime Roll Out Fuel Efficiency Software

SolstadFarstad and Yxney Maritime AS have completed a pilot project to develop and roll out the fuel efficiency and emission reduction software MarESS. During the pilot, the combination of MarESS and skilled crews generated significant fuel savings for SolstadFarstad and their clients, leading to the contract for implementation for the entire fleet. “SolstadFarstad’s work with the SolstadFarstad Green Operations campaign is taken to the next level with MarESS,” says Tor Inge Dale, COO in SolstadFarstad. The merger of Solstad Offshore, Farstad Shipping, Deep Sea Supply and REM Offshore created the world’s biggest owner of advanced vessels in the supply, anchor handling, construction and renewable segments, with 147 vessels in total.

02 Aug 2017

Playing Catch: Northern Europe Fisheries Fleet Review

Out to Sea: Offshore aquaculture has arrived. (Illustration: Handout)

Record hauls of wild fish, an unprecedented return on farmed salmon, finance and subsidy garner new orders, new designs and emboldened suppliers. In Scandinavia, particularly Norway, rich, carefully managed fisheries raise just one question for the commercially minded — which wave of business to ride. A growing number of large and small players are in on the action, as historic profits are heralded up and down the supply chain. For the hardened makers of gear that know tougher times, this is the golden age.

14 Jul 2017

Solstad Farstad Sells 2010-Built AHTS

Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway. The 2010-built, 23,664-bhp Far Shogun has been delivered to the unnamed new owner on Thursday, Solstad Farstad announced. "Wholly owned subsidiary Farstad Supply AS has sold the AHTS Far Shogun to an undisclosed buyer for an undisclosed price. The delivery of the anchor handling tug and supply vessel Far Shogun to the new owner took place on Thursday, July 13," said the company. Solstad Farstad says the sale of the vessel will result in an immaterial accounting effect for third quarter 2017.

09 Apr 2017

BP Extends PSV Deals with Deep Sea Supply

Oslo-listed offshore vessel owner Deep Sea Supply has secured two time charter contract extensions with BP Egypt.   The PSVs Sea Spear and Sea Spark have been awarded a 1 year extension of their charter contracts with start from end of current firm period, in July 2017.   "Deep Sea Supply is pleased to announce an extension of two time charter contracts with BP Egypt," said a statement from the company.   Both vessels started operations for BP Egypt in Egypt in July 2016 on one year firm and one year option contract. Following this extension both vessels are now firm until July 2018.

24 Mar 2017

Norway's Solstad Offshore, Farstad Shipping and Deep Sea Supply Agree Merger

Norwegian OSV companies Solstad Offshore, Farstad Shipping and Deep Sea Supply have signed off on merger plans first announced on February 6, 2017. The statutory merger plans have been approved and signed by the boards of Solstad, Farstad, DESSC and Solstad’s relevant subsidiaries, into which Farstad and DESSC will be merged. Deep Sea Supply and Farstad Shipping will merge into and be established as individual subsidiaries under Solstad Offshore, with shareholders of Deep Sea Supply and Farstad Shipping receiving shares in Solstad Offshore as consideration. Each of Solstad, Farstad and DESSC will immediately after this release also issue a separate release which will contain the relevant technical details on the mergers.

06 Feb 2017

Norwegian OSV Operators in Blockbuster Merger

Debt-laden Farstad Shipping gets lifeline; billionaires Fredriksen and Roekke join forces. Hit by the oil industry recession, Norwegian offshore service vessel (OSV) operators Farstad Shipping, Deep Sea Supply and Solstad Offshore announced plans to merge on Monday to counter the downturn. Under the deal Farstad is to complete a financial restructuring via a debt-for-equity swap and new share issue, and will then be merged with Deep Sea Supply and Solstad Offshore, controlled by Norwegian billionaires John Fredriksen and Kjell Inge Roekke respectively. With a combined fleet of 154 ships, the new combined company, Solstad Farstad, will be the biggest owner of large vessels in the supply…

31 Aug 2016

Ship Finance 2016 Q2 Reveue Falls

Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter. The company reported net income of $38.81 million down from $46.8 million in the year-ago quarter. Ship Finance's total operating revenues dipped from $117.58 million to $103.99 million and came in below the analysts' predictions of $110.43 million. The firm continued fleet renewal with the successful delivery of our third 9,300 - 9,500 TEU newbuilding container vessel on long term charter to Maersk Line and sale of an older VLCC. Ole B. Hjertaker, CEO of Ship Finance Management AS…

30 Aug 2016

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. * CEO says Oct. * Farstad shares down 4.7 pct to 8.9 crowns at 1004 GMT compared to a rise of 0.5 pct in Oslo's benchmark share index.

18 Aug 2016

Kleven to Build Fish Harvesting Vessel for DESS Aqua

Photo courtesy of  Kleven

Kleven has signed a contract with DESS Aqua, a joint venture company established by Marine Harvest Norway and Deep Sea Supply, on the building of a fish harvesting vessel for carrying salmon from fish farms to processing plants. The vessel will be delivered from Myklebust Verft in March 2018, and is of SALT 425 FHV design from Salt Ship Design. The contract also includes an option for a second vessel. “There is impressive research and development work being done in the fish farming industry, and this is absolutely an interesting market for us to be in,” said Ståle Rasmussen, CEO of Kleven.

15 Jun 2016

DNV GL, SGN Join Forces to Deliver Innovative project

Following a successful Network Innovation Competition bid in 2015, DNV GL has secured innovation funding from SGN to partner in a project to demonstrate the viability and practical reality of a mixed-source, energy-centric gas network for the future. The project was developed, and will be delivered, in partnership with SGN who are one of the UK's key gas distribution operators, and industry leaders in innovation. The integrated energy network of the future must be flexible, secure, cost effective and above all safe. The changing gas industry, driven by a reduced North Sea supply is increasingly required to accommodate gas from more diverse sources such as biomethane and shale gas.

22 Feb 2016

Optimarin Wins Sinopacific AHTS Contract

Photo: Optimarin

Ballast water treatment (BWT) specialist Optimarin is continuing its strong start to the year, with the news that its Optimarin Ballast System (OBS) has been selected for nine Sinopacific Shipbuilding Group AHTS vessels. The contract win comes on the back of a recent ten unit order from Atlantis Tankers and the firm’s first foray into the fishing sector, with Fisherman’s Finest’s America’s Finest trawler. The nine AHTS vessels, designed by Sinopacific’s Shanghai Design Associates specialist OSV team, will be operated by ESNAAD, a subsidiary of the Abu Dhabi National Oil Company (ADNOC).

01 Dec 2015

Norway's Offshore Shipping Sector Faces Bleak Year

Norwegian companies that provide supply ships and drilling rigs to the global oil industry face a bleak year ahead as contracts disappear and financing options dwindle in the face of weak global crude prices. They could increasingly be forced to sell or write down the value of assets, cut jobs and tap shareholders for cash to weather the downturn, according to industry experts. This would herald more pain for Norway, where the overall oil sector accounts for about a fifth of the economy and unemployment is rising, especially in the oil capital Stavanger and its environs on the west coast. Oil firms like Statoil, which offshore shipping companies rely on for business, have slashed costs and projects to cope with a 60-percent plunge in crude prices since June last year.

11 Jun 2015

Crew Supply Vessel Delivered in Louisiana

Lady Tierney (Photo courtesy of Halimar Shipyard)

Lady Tierney, a 205-foot monohull DP-2 crew supply vessel, has been delivered for Sea Supply, Inc., a B&J Martin Inc. subsidiary, of Galliano, Louisiana. With design expertise from Incat Crowther’s Lafayette, La. office, combined with concept design and standards from the Morgan City, La. based Halimar Shipyard and the vessel owner, the ABS-classed, USCG-certified vessel will work in the Gulf of Mexico’s deep water offshore industry. For transportation of supplies, Lady Tierney features an aft cargo deck comprising of 3,950 square feet of timber covered area with a capacity of 450 LT.

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week