Marine link
 

Northern Offshore

Rosneft Cancels Rig Contract

800px-Rosneft_logo.jpg

  Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said. Western sanctions against Russia, and Rosneft in particular, have led the Russian oil group to cancel a North Atlantic Drilling vessel earlier this month and raised concerns whether a larger agreement would go through.. The contract, worth about $150 million, was for Northern Offshore's jack-up rig, Energy Endeavour, which is "part of a multi-rig contract to provide drilling services in the Russian Arctic commencing in the 2015 summer drilling season," Northern Offshore said in a statement dated March 24. The rig is part of a bigger deal between North Atlantic Drilling and Rosneft to supply 150 land rigs and for Rosneft to then take a 30 percent stake in the company. "We agreed before Christmas to postpone the deal and meet again in May," North Atlantic Drilling's Chief Executive Alf Ragnar Loevdal said on Wednesday. "As you tell, the geopolitical picture remains unresolved and we can't start the work because of that," he said, adding that the deal could be postponed until relations between the West and Russia improve. Rig firms have also been hit by cuts in spending by oil firms due to the slump in crude oil prices and rig rates have halved from a peak two years ago.


Energy Searcher Gets Offshore Nigeria Contract

Drillship Energy Searcher: Image courtesy of the owners

Northern Offshore subsidiary, Northern Offshore International Drilling Company says it has executed a long-term drilling contract with an affiliate of CAMAC Energy Inc. for its drillship 'Energy Searcher'. The contract commits to an initial period of one year, with an option to extend the contact for an additional one-year term. Commencement of drilling activities on the Oyo Field offshore Nigeria is expected during the first half of 2014.


Damen Delivers Twin Axe to Northern Offshore Services

Photo: Damen

Northern Offshore Services has taken delivery of its first Damen Twin Axe, just weeks after the order was placed in August. The 26-meter Fast Crew Supplier is already being deployed at an offshore wind farm in the North Sea. Crewboat operator Northern Offshore Services has offices in Sweden and Denmark and a fleet of nearly 20 vessels. The company specializes in the safe and reliable transport of personnel and equipment to the offshore (wind) industry and is a new customer for Damen.


Energy Searcher to Undergo Repairs

Northern Offshore, Ltd. (Oslo Bors: NOF.OL) reported on May 5 that upon completion of the third well of a five-well drilling program for VietGazprom offshore Vietnam, the drillship Energy Searcher underwent an inspection that identified repairs needed to the ship's hull prior to the rig returning to drilling operations. The company intends to move the rig to Singapore to make the necessary repairs. Although preliminary and subject to further inspection in the shipyard


Blount Boats to Manufacture US-flagged Catamarans

Blount Boats, Inc. has been appointed by South Boats Special Projects, Ltd., based at Cowes on the Isle of Wight, England, to be the exclusive shipyard to manufacture U.S. flagged aluminum catamarans of South Boats designs for the U.S. wind farm industry. Blount Boats operates a shipyard in Warren, Rhode Island. South Boats is recognized as a pioneer in designing and manufacturing wind farm service vessels. Their shipyard has built 45 vessels in five classes, from 15M – 30 meters


Oslo Sees Comeback For Maritime Stocks

The All Share Index in Oslo was up 3.8 percent in May, and shipping and offshore stocks were leading the way as the Shipping Index surged 13.9 percent during the month. All but three of the offshore stocks listed on the OSE experienced positive share price movements in the period. Northern Offshore (NOF), announcing strong results for first quarter, was up all of 50 percent. Nortrans Offshore (NOL), Navis (NIS), Stolt Comex Seaway (SCS) and Smedvig (SME/SMEB) were all up between 33 and 20


Oslo Sees Comeback For Maritime Stocks

The All Share Index in Oslo was up 3.8 percent in May, and shipping and offshore stocks were leading the way as the Shipping Index surged 13.9 percent during the month. All but three of the offshore stocks listed on the OSE experienced positive share price movements in the period. Northern Offshore (NOF), announcing strong results for first quarter, was up all of 50 percent. Nortrans Offshore (NOL), Navis (NIS), Stolt Comex Seaway (SCS) and Smedvig (SME/SMEB) were all up between 33 and 20


Oslo Sees Comeback For Maritime Stocks

The All Share Index in Oslo was up 3.8 percent in May, and shipping and offshore stocks were leading the way as the Shipping Index surged 13.9 percent during the month. All but three of the offshore stocks listed on the OSE experienced positive share price movements in the period. Northern Offshore (NOF), announcing strong results for first quarter, was up all of 50 percent. Nortrans Offshore (NOL), Navis (NIS), Stolt Comex Seaway (SCS) and Smedvig (SME/SMEB) were all up between 33 and 20


Trico Marine Takes Delivery on New Platform Supply Vessel

Trico Marine Services, Inc., has taken delivery on the Northern Canyon, a 279-ft. UT 745 design platform supply vessel (PSV). The state-of-the-art vessel is designed to serve deepwater markets worldwide. Built in Norway, the Northern Canyon is equipped with a DP2 (dynamic positioning) system and is among the largest, most technologically advanced PSVs available in the industry. The vessel, which will be deployed initially in the North Sea


Northern Shipping Fund Closes above Target

Northern Fund Management America LLC (“Northern Shipping”), an alternative capital provider to the shipping and offshore oil service sectors, said that it has completed a final closing for Northern Shipping Fund III LP, with total investor commitments of $505 million. The fund is one of the largest dedicated to maritime credit.   The oversubscribed maritime credit fund, managed by Northern Shipping, exceeded its initial target of $400 million


CNOOC Diverted Two LNG Cargoes from Tianjin After Pipeline Fire

China's state-owned energy company CNOOC diverted two cargoes of imported liquefied natural gas (LNG) after a pipeline fire in northern China's Tianjin, though imports were normal as of Monday, traders with knowledge of the matter said on Tuesday.


Cuba, US Sign Oil Spill Deal before Trump Inauguration

© simonovstas / Adobe Stock

Cuba and the United States agreed on Monday to jointly prevent, contain and clean up oil and other toxic spills in the Gulf of Mexico, as they rush to conclude deals before President-elect Donald Trump takes office.   U.S. Charge d'Affaires Jeffrey DeLaurentis, upon signing the agreement


Gulf Navigation forms JV with Polimar Turkish

Photo: Gulf Navigation Holding

 Dubai-listed Gulf Navigation Holding has announced a partnership with Polimar Turkish Holding to grow its fleet and increase its global reach. Under the agreement, Gulf Navigation said it would be able to serve customers in major trading ports worldwide.  


Asia Dry Bulk-Capesize Rates Firm as Weather Delays Weigh

File Image: a large bulk carrier underway (CREDIT: BSM)

Brazil-China rates climb to a 15-month high; about 80 capesize, panamax ships waiting to unload around Tianjin.   Freight rates for large capesize dry cargo ships on key Asian routes are likely to remain firm for at least two more weeks as bad weather conditions in China and Australia help


Ship-to-shore Cranes Shipped via The Northern Sea Route

HHL Valparaiso is the first vessel to sail open hatch through the Northern Sea Route, as it delivers two giant ship-to-shore (STS) cranes across Russia. (Photo: HHL)

HANSA HEAVY LIFT has transported the first-ever ship-to-shore (STS) cranes via the Northern Sea Route (NSR), relocating them from the port of St Petersburg to the port of Vostochny, spanning both the European and Far East regions of Russia.  


China coal province to Cut pollution by 20 pct by 2020

One of China's top coal-producing provinces has vowed to slash its level of fine particle pollution by one-fifth by 2020, the official Xinhua news agency reported on Saturday, citing the provincial government. China has adopted various measures from policing barbeques to halting industrial


China's Ying Kou Port Group chairman sentenced to 14 years for bribery

The chairman of China's Ying Kou Port Group was sentenced to 14 years in prison for accepting around 26.8 million yuan ($3.86 million) in bribes, said the official Xinhua news agency on Saturday. President Xi Jinping has waged a widespread campaign to wipe out systemic corruption since he came


Obama's Arctic Ban and Aftermath

Photo courtesy: BP p.l.c.

 US President Barack Obama has permanently banned offshore oil and gas drilling in the "vast majority" of US-owned northern waters.   Vowing that his successor won’t be able to reverse his actions, President Obama on Tuesday used executive authority to permanently ban


CMA CGM Opts for DP World London Gateway

Ships to stop off in the UK for the first time following improvements to the line’s North Europe to Central America service rotation. Photo: DP World London Gateway Port

 CMA CGM’s European Caribbean Service is to begin calling at DP World London Gateway Port following enhancements to the rotation.    It means that this particular service will be calling in the UK for the first time on Friday, January 6.   


Northern Shipping Fund Closes above Target

Northern Fund Management America LLC (“Northern Shipping”), an alternative capital provider to the shipping and offshore oil service sectors, said that it has completed a final closing for Northern Shipping Fund III LP, with total investor commitments of $505 million


Leviathan Partners to Start Drilling in Q1 2017

Eastern Mediterranean. Photo: Noble Energy Inc

 The Leviathan reservoir partners announced on Sunday their plans to begin drilling a new well in the basin during the first quarter of next year, reports The Jerusalem Post.   The partners announced today that work will commence in the first quarter of 2017 and a budget of $77 million


Maritime Museum Rotterdam Launches Offshore Experience

Opening of Offshore Experience by Marjan van Loon, President-Director of Shell Netherlands

Marjan van Loon, President-Director of Shell Netherlands, officially opened the Offshore Experience exhibition at the Maritime Museum in Rotterdam on Friday, 16 December. Over fifty leading companies in the shipping and offshore maritime sector are among those who have helped fund the


Statoil Wins Offshore Wind Lease in New York

Just days after Deepwater Wind said its Block Island Wind Farm has begun delivering electricity into the New England region’s grid, Statoil reports that it has been declared the provisional winner of the U.S. government’s wind lease sale of 79,350 acres offshore New York.  


Southern Exposure: Wilson Sons' Sergio Guedes Talks Towage

WS Procyon is a powerful 32 meter azimuth escort tug. (Photo: Wilson Sons Towage)

The influx of ships and rigs sailing into and out of Brazilian ports since the discovery of large pre-salt plays off Brazil in 2007, and the opening of new ports and shipyards during the past decade has led to a sharp increase in towing operations in Brazil


ELA Offshore Accommodation for OSV SeaMar Splendid

OSV SeaMar Splendid Photo ELA Container Offshore GmbH

ELA Container Offshore GmbH delivered an Offshore Living Quarter to Netherlands based SeaMar Services BV in Den Helder. The container was placed on board the Offshore Support Vessel ‘SeaMar Splendid’ and provided extra accommodation for subsea work in the North Sea






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright