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Gas Offshore

OSV Sector Wary of Overcrowding

The offshore support vessel (OSV) segment – over-capacity driving down utlilization and charter rates THE offshore support vessel (OSV) segment - touted as the bright spot where other traditional shipping markets are suffering - may entice tanker and bulk-carrier operators to jump ship, according to a recent Singapore Business Times article. However, OSV operators and owners are wary of such a crossover, and warn that if the sector gets more crowded, it may derail a recovery in charter rates that is expected to come about in two to three years' time. There are about 3,000 OSVs that support oil and gas offshore exploration - a sliver of the 70,000 merchant ships - but it is a sector that gained attention at a time when oil companies are expected to spend about US$600 billion in exploration and production activities. It is in an overcapacity situation, which has driven utilisation rates and charter rates down in the past years.


Statoil Finds More Gas Offshore Tanzania

Statoils Tanzania Operations (image courtesy Statoil)

Norway's Statoil has found more gas offshore Tanzania, increasing its total for an eventual investment decision on a liquefaction plant with Britain's BG Group, which operates neighboring exploration blocks, it said on Tuesday. Statoil found another 1.2 trillion cubic feet of gas in its block, taking its total volume in-place to 21 trillion cubic feet, or about 3.8 billion barrels of oil equivalents. BG has also found about 15 trillion cubic feet of gross resources in nearby blocks.


Wärtsilä 2012 Profits Stay Healthy

Björn Rosengren President & CEO of Wärtsilä delivers his year 2012 financial results message to shareholders. Extracts from the message follow: "During 2012, we closed our largest ever acquisition with the purchase of Hamworthy. This acquisition supports our growth strategy in the marine gas, offshore and environmental solutions markets, and Hamworthy has performed well while being integrated to our Ship Power business.


Europort Advanced Technology Conferences

Europort-subbrands-horizontal-red_website.jpg

Shipping’s need to squeeze maximum value out of available assets is finding sharp focus, as the global maritime and offshore industries gather at Europort 2013, Rotterdam (Ahoy Rotterdam, November 5-8). In line with its stated aim to showcase Pioneers in Maritime Technology, Europort has tapped into the maritime industry’s state-of-the-art for 2013. Its Advanced Technology Conferences (ATC), organized by Ahoy in close collaboration with HME


Product Tanker Hijackings

Fig. 1: 	Valle Di Cordoba is generally held to be the first victim of a successful attack against a  	product tanker with the intent to steal the cargo in the Gulf of Guinea in recent years.

Understanding Trends & Tendencies in the Gulf of Guinea Gulf of Guinea piracy presents a radically different picture compared with Somali piracy. Since decades it has been a kaleidoscopic mix of short duration hijackings, militant disruptions, kidnappings, robberies and thefts, depending on the location and the setting. It was not until recently, however, that piracy in the region attracted significant international media attention due to the increase in hijackings of product tankers in


Kværner Deliver Strong Q1 2014 Results

Topside construction: Image credit Kværner

Leading contractor for deliveries of complete upstream oil & gas offshore platforms and onshore plants, Norway's Kværner ASA, reports  operating revenues for the first quarter of 2014 wer NOK 3,489-million which is an increase of 31 percent compared to NOK 2 663 million in first quarter in 2013. The high activity and good utilisation of resources continued in first quarter 2014. The order intake in the first quarter of NOK 1


ExxonMobil Announces Completion of $2-Billion Sable Gas Project

Exxon Mobil Corporation announced the completion of the $2-billion Sable Offshore Energy Project off the coast of Nova Scotia, Canada, with the delivery of the first sales gas into the Maritimes & Northeast Pipeline. The project consists of three offshore platforms, a 125-mile subsea pipeline, natural gas-processing and fractionation plants and a 650-mile gas sales pipeline to New England, and is consistent with ExxonMobil's strategy of increasing gas and liquids production and expanding


Russia Relying on Offshore for Future Production

Sakhalin Island currently is the oil and gas growth engine for Russia, which will rely on offshore regions for new production after 2010, the Oil & Gas Journal reported. By 2020, offshore fields could account for 20% of Russia's total oil and gas output. However, Russia must implement regulations and taxes before its offshore oil and gas assets can be developed since offshore royalty issues remain largely unaddressed


Bill Allowing Offshore Drilling Introduced in Congress

An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil


US Gulf Offshore Energy Tap Being Turned On Again

BSEE Hurricane Response Team monitors offshore oil & gas operators' activities in Gulf of Mexico, post TS 'Isaac'. From operator reports, it is estimated that approximately 71.50 percent of the current daily oil production in the Gulf of Mexico has been shut-in. It is also estimated that approximately 55.62 percent of the current daily natural gas production in the Gulf of Mexico has been shut-in. The Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team


Rigmarine Opens Aberdeen Facility

Photo: Rigmarine

Lifting and marine product specialist Rigmarine has opened its fourth global facility in the rural village of Insch, 30 miles to the northwest of Aberdeen, Scotland. The site, strategically positioned to serve the offshore oil and gas, renewables, construction, break bulk


Maersk, DONG in Talks over $10 Bln Oil Merger

File photo: DONG Energy

Denmark's A.P. Moller-Maersk and DONG Energy are in talks to merge their oil and gas operations in a deal that would create a business worth more than $10 billion including debt, sources familiar with the matter said.   Maersk is working with Bank of America on the potential deal


Two New SEA\LNG Partners

SEA\LNG, which works to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, has welcomed two new partners, each representing key aspects of the LNG maritime value chain: ABS and Keppel Offshore & Marine’s Gas Technology Development.  


Partners to Build LNG Dual-fuel Bunker Ship for Singapore

Harley Marine International Holdings Pte. Ltd. said it has signed an MoU with Pavilion Gas Pte. Ltd, Mitsui O.S.K. Lines, Ltd. (MOL), and Mitsui & Co., Ltd. (Mitsui) to build the first liquefied natural gas (LNG) dual-fueled bunker tanker for Singapore.  


Offshore Wind: Renewed Interest in Investment

Graph: Clarksons Research

 There are distinct signs that the offshore wind sector is emerging from a period of relative quiet, says Clarksons Research.    For the first time in several years, the number of final investment decisions (FIDs) is on the rise


Anchor Handling Tug Supply Vessel Market Poised for Growth

File photo: Farstad Shipping ASA

The global market for anchor handling tug supply vessels is poised for growth from 2016-2020, according to a report by Research and Markets.   In the report, which covers the present scenario and the growth prospects market based on total revenue generated from the different geographical


Flogas Britain and Stolt-Nielsen announce LNG project for Rosyth

Photo: Outokumpu Group

 Flogas Britain, the UK’s leading liquefied natural gas (LNG) provider, and Stolt-Nielsen LNG Holdings Limited, a subsidiary of Stolt-Nielsen Limited (Oslo Børs: SNI), a leading global provider of bulk liquid transportation and storage solutions


Great Eastern Shipping Q2 Profit Falls About 24 Pct

Photo: Great Eastern Shipping Co. Ltd

 Great Eastern Shipping  (GES) Company posted a 23.9 per cent decline in consolidated net profit at Rs 268.7 crore ($40 million) for the second quarter ended September 30, 2016, reports PTI.   The company had posted a consolidated net profit after tax of Rs 353


Subsidy-Reliant Offshore Wind Takes Cue from Big Oil

File Image (CREDIT: Siemens)

From a helicopter, it looks like just another North Sea oil rig, a grey cube supported by massive yellow pillars, 90 kilometres (56 miles) off western Denmark. But the DanTysk facility is the world's first accommodation platform for offshore wind


Op/Ed: Obama’s Parting Salvo at US Energy Security

Randall Luthi (Photo: NOIA)

Randall Luthi, President of the National Ocean Industries Association (NOIA), does not pull any punches as he weighs in on the Obama administration’s release of the Final 2017-2022 Outer Continental Shelf (OCS) Oil and Gas Leasing Program.  


FORAN Expands User Base in Korea

Hansung Ship Eng. Power station (Photo: FORAN)

These are difficult times for the shipbuilding industry, in particular that of Korea, which faces its worst-ever order drought. Big, medium-sized and small shipbuilders are undergoing deep restructuring as a consequence of the workload downturn


Subsea Industries Opens UK Office

Subsea Industries has strengthened its presence in the U.K.’s maritime and renewable energy sectors with opening up of a dedicated marine and offshore coatings office in the U.K. and the appointment of coatings specialist Mark Woods as its U.K.-based technical representative.  


Talking Dutch Designs with Damen’s Peter Robert

Peter Robert, Damen’s Head of Business Development & Market Intelligence (Photo: Damen)

Despite the numerous challenges facing today’s maritime sector, there are still opportunities to be found. After all, the world is constantly changing and it is those companies who are able to adapt and move with the markets that will experience long-term success


As Operators Look for the Bottom, Gulf Gloom Persists

Credit: Yesenia Rodriguez

Gulf of Mexico vessel operators want to see sustained, higher oil prices. After a rough two years, supply boat owners and operators in the Gulf of Mexico hope crude oil prices will improve in 2017. That would encourage activity among the offshore drillers that they service and would put


Thailand Ups Long-term LNG Imports Due to Coal Plant Delays

Thailand is increasing its planned long-term imports of liquefied natural gas (LNG) to meet rising demand after delays to the construction of coal-fired power plants, a senior official at energy ministry said on Wednesday.   Energy policy makers have revised their target of LNG imports to 17






 
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