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Offshore Business News

20 Dec 2023

Top 10 Things to Watch in Offshore Wind in '24

Copyright Infi Studio/AdobeStock

Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look at 10 factors that will shape the offshore wind sector in 2024.1. A Continuously Dynamic Energy TrilemmaThe dynamic relationship of the three key drivers of affordable energy, energy security and energy transition was clearly evident in 2023 as energy affordability and security were generally more prominent themes than the transition.

13 Feb 2023

New York Offshore Wind Facility Could Create 420 Direct Jobs

©Siemens Gamesa

Wind turbine maker Siemens Gamesa said Monday it planned to build a major offshore nacelle manufacturing facility in New York state. The construction of the plant depends on Siemens Gamesa's wind turbines being selected by the New York authorities in their third offshore wind solicitation. The planned facility would be located at the Port of Coeymans. According to Siemens Gamesa, the facility would create up to about 420 direct jobs, support a significant rise in indirect jobs and represent an investment of around $500 million in the region.

22 Aug 2022

ABS Hires Hernandez to Head its Offshore Division

Miguel Hernandez (Photo: ABS)

Classification society ABS announced it has appointed veteran offshore industry leader Miguel Hernandez to head its offshore division. The former MODEC general manager of sales and marketing is now ABS Senior Vice President of Offshore Business Development, leading global offshore including the FPSO, FPU and floating offshore wind sectors.“As the world’s leading offshore class, we are always looking to innovate and develop our services for clients. This is why we have appointed Miguel


11 Jul 2022

Ships Get Older and Slower as Emissions Rules Bite

©OlegD/AdobeStock

If shipping is the beating heart of global trade, its pulse is about to get slower. Faced with uncertainty about which fuels to use in the long term to cut greenhouse gas emissions, many shipping firms are sticking with aging fleets, but older vessels may soon have to start sailing slower to comply with new environmental rules.From next year, the International Maritime Organization (IMO) requires all ships to calculate their annual carbon intensity based on a vessel's emissions


08 Jun 2022

DEME Offshore's Flagship Vessel Orion Installs First Monopile at German Offshore Wind Project

Credit: DEME Offshore

DEME Offshore's recently delivered flagship offshore installation vessel Orion has installed the first monopile at Arcadis Ost 1 offshore wind farm site in the German Baltic Sea to the northeast of Rügen island. Arcadis Ost 1 is a 257 MW offshore wind project developed by Parkwind. "Deploying ‘Orion’,  the newest member of the DEME fleet and the most innovative vessel in the offshore wind industry, DEME Offshore has successfully installed the first XXL monopile at Parkwind’s Arcadis Ost 1 offshore wind farm in Germany


10 Jan 2022

ABS Grants AiP for Samsung's FLNG Spread Mooring System

Darren Leskoski, Vice President of ABS Korea Regional Business Development and Wang K. Lee, Vice President of Samsung Heavy Industries Offshore Business Division - Credit: ABS

The American Bureau of Shipping (ABS) has awarded Approval in Principle (AIP) to Samsung Heavy Industries’ (SHI) design for a one-side spread mooring system for a floating liquefied natural gas (FLNG) facility.The system developed by SHI allows an FLNG to be safely spread moored on one side, enabling LNG carriers to berth and load on the opposite side free from obstructions, ABS said."With more than 150 floating oil and gas facilities in the ABS-classed fleet, ABS is the market leader in classification of offshore production units, which includes FLNG assets.

05 Jan 2022

Sun Feng Takes the Helm at China Classification Society

China Classification Society President and Chairman Mr Sun Feng. Photo courtesy CCS

Sun Feng formerly a CCS vice president, was named Chairman and President, taking over from Mo Jianhui, who retired.In a handover ceremony at CCS headquarters in Beijing, Sun paid tribute to Mo, praising his contribution to CCS.“Mr. Mo oversaw the rapid growth of our classed fleet, an expanded global network and he helped increase our international presence and influence, we thank him for all the success he helped deliver,” he said. “We have also seen our offshore business increase despite the downward trend.

03 Dec 2021

Shipping Firm MOL Teams Up with Flotation Energy to Build Floating Wind Farms in Japan

Kincardine offshore floating wind farm developed by Flotation Energy founders

Japanese shipping giant Mitsui O.S.K. Lines (MOL) has partnered up with Scotland-based floating wind specialist Flotation Energy to jointly evaluate offshore wind development opportunities in Japan. The agreement builds on the 2GW portfolio of offshore floating wind projects in Japan being developed by Flotation Energy (Japan) Co. Ltd., starting from Niigata and followed by other areas, the companies said.MOL will jointly develop a local supply chain and Flotation Energy will manage overall project development.

20 Jul 2021

South Korean Shipbuilder Eyes Floating Wind Opportunities

Credit: SHI

South Korean shipbuilder Samsung Heavy Industries is joining the offshore wind industry through the development of an independent offshore wind floater model able to operate in extreme marine environments.The company said Monday it had received Approval in Principle (AiP) for its 9.5-MW large-scale offshore wind floater model, Tri-Star Float from the Norwegian classification society DNV."Removing a pontoon, a steel-frame structure supporting wind generator on the sea, its compact design will help dramatically shortening construction period from design and transportation to installation


21 Apr 2021

VIDEO: After Modest 2020, the Years 2021 and 2022 Could Be 'Pretty Good' for FPS Orders

An FPSO - Credit: Ranimiro/AdobeStock

There's one thing that's certain about the price of oil, it goes up and it goes down, but nobody knows when that will happen, Jim McCaul, an expert in the offshore floating production sector for 30 years, recently said in an interview for Offshore Engineer TV, discussing the past, the present and the future of the floating production market.Apart from the oil price volatility being a certain thing, there's another thing that's sort of certain. When oil prices go down, orders for floaters dry up


02 Apr 2021

Floating Production Systems Market Bounces Back on Recovering Oil Prices

Illustration only - Credit: Igor Kardasov/AdobeStock

Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports.McCaul bases his assessment on data in a new floating production systems report prepared by World Energy Reports. The report provides details for 206 floater projects in the planning stage, 44 production or storage floaters now on order, 307 floating production units currently in service and 44 production floaters available for redeployment contracts.As detailed in the report


16 Mar 2021

Top Japanese Lenders Join Shipping Industry Scheme to Cut Carbon

© Photo Gallery / Adobe Stock

Leading Japanese lenders have joined an initiative that links the provision of shipping finance to cuts in carbon dioxide emissions as the sector accelerates efforts to go green.In recent weeks, Shinsei Bank Ltd, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Finance & Leasing and MUFG Bank have signed up to the scheme, the banks said.With about 90% of world trade transported by sea, global shipping accounts for nearly 3% of the world’s CO2 emissions.In 2019, a group of leading banks signed up to environmental commitments known as the “Poseidon Principles”


22 Feb 2021

LR Announces Maritime Executive Leadership Appointments

Mark Darley (Photo: LR)

Among his first key appointments since taking the helm of Lloyd’s Register (LR) in January, Chief Executive Nick Brown has named three new members of LR’s executive leadership team: Mark Darley as Business Director, Marine and Offshore, Andy McKeran as Business Director, Maritime Performance Services and Philippa Charlton as Chief Marketing Officer.“LR recognizes that maritime stakeholders must rise to the demands of changing technology and the drive to decarbonize our industry.

19 Jan 2021

RSC Bio Solutions Grows Its Team and Distribution

RSC Bio Solutions announced team expansions in several key geographic areas, as well as expanded distribution coverage. Hideki Tominga and Alhareth Shahen are joining as business development managers, Thomas TO is joining as a Technical Business Consultant, and Miranda Lo and Cherl Minot are coming on board in customer support functions. David Simpson has been promoted to lead global business development activities for the marine and offshore division.“We are proud to be playing a leadership role in developing innovative solutions to address the accelerating challenges heavy equipment and maritime operators face today,” said Mike Guggenheimer, President and CEO of RSC Bio Solutions.

15 Dec 2020

Ship Finance Lenders Fall Short of Sector's Carbon Targets

© Alexey Lesik / Adobe Stock

Many of the world’s biggest lenders to shipping companies fell short of carbon-cutting targets last year in the first analysis of CO2 goals for the sector by financiers, a report showed on Wednesday.Global shipping accounts for nearly 3% of the world’s CO2 emissions and the industry is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.Last year, a group of leading banks signed up to environmental commitments known as the Poseidon Principles


10 Dec 2021

Siemens Gamesa Launches 14MW Offshore Wind Turbine

Image: Siemens Gamesa

Wind turbine maker Siemens Gamesa has unveiled a new SG 14-222 DD offshore Direct Drive wind turbine with 14-megawatt (MW) capacity.The capacity can reach up to 15 MW using the company’s Power Boost function. The turbine will have a 222-meter diameter rotor, 108-meter long blades, and a 39,000 m2 swept area.The 14 MW capacity allows one SG 14-222 DD machine to provide enough energy to power approximately 18,000 average European households every year. Approximately 30 SG 14-222 DD offshore wind turbines could furthermore cover the annual electricity consumption of Bilbao


14 May 2020

ABS’ Wiernicki: “COVID-19 will function as threat, a disruptor and catalyst for change”

Christopher J. Wiernicki, CEO, American Bureau of Shipping.

As COVID-19 and a historically weak energy market wreaks havoc on the maritime industry, Christopher J. Wiernicki, CEO, American Bureau of Shipping, tells Maritime Reporter & Engineering News in its May 2020 edition that “COVID-19 will function as threat, a disruptor and catalyst for change, driving class further away from calendar maintenance towards predictive operations. The industry will accelerate its digitally driven movement into condition-based approaches and real-time


25 Feb 2020

STEHMO Investing $10 Mln, Adding 100 Jobs

(Photo: STEHMO)

Ship maintenance and repair company ST Engineering Halter Marine and Offshore, Inc., said it is investing $10 million to expand at its Pascagoula, Miss. site, adding 100 jobs in the process.STEHMO, along with its sister company VT Halter Marine, is growing as a result of recent market opportunities. The expansion will enable the company to perform new commercial repair work for larger ships and oil platforms that require greater size and lifting capacity. STEHMO is adding dock space and water depth adjacent to its Bayou Casotte site.

23 Feb 2020

MOL, DSME Collaborate on New FSRU Tech

Japanese shipping major Mitsui O.S.K. Lines (MOL) has entered into an agreement with Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) to jointly develop a new technology to reduce environmental impact for Floating Storage and Regasification Units (FSRU).The new technology named ‘Cryo-Powered Regas’ will enable to utilize the LNG cold energy, which used to be disposed of, as power generation energy by adopting the Organic Rankine Cycle in the regasification process of the FSRU.Cryo-Powered Regas technology is expected to reduce fuel consumption and CO2 emission of FSRUs significantly.MOL and DSME plan to test the technology


02 Feb 2020

MOL in Restructuring Excercise

Japanese shipping major Mitsui O.S.K. Lines (MOL) has unveiled a number of new restructuring measures effective April 1, 2020.According to a press release, the  marine transportation provider intends to establish three new divisions and integrate its two tanker divisions to achieve synergy.MOL will establish the Offshore Gas Project Division as an organization focused on businesses related to the LNG field in energy value chains (FSRU projects, LNG bunker vessel project, etc.) to accelerate the enhancement of the offshore business, in which the company is concentrating the investment of management resources, as set out in Rolling Plan 2019.The Offshore Project Division shall have specific responsibilities in crude oil fields such as FPSO projects


07 Jan 2020

SGRE Wins 2.6GW Offshore Turbine Deal in US

Siemens Gamesa Renewable Energy (SGRE), the world’s largest supplier of offshore wind turbines, won the order for Dominion Energy’s 2,640-megawatt project off the coast of Virginia, U.S.A.According to a press release from the Spanish-based engineering company company, this is the largest offshore wind power project in the rapidly increasing U.S. market to date.A long-term service and maintenance agreement is included for the site located off the coast of Virginia. The agreement furthermore foresees utilizing turbines from Siemens Gamesa’s Direct Drive offshore wind turbine platform.The final number of units and turbine model remain to be determined. All installations are expected to complete by 2026.

02 Dec 2019

Ørsted Restructures Offshore Biz

The offshore wind giant Ørsted has introduced a new operating model for the Offshore business, to support the execution of its project pipeline and future growth."The global market opportunities in renewables continue to expand and present significant opportunities for growth. In 2019, Ørsted expanded into Taiwan and the US with the award of significant projects," the largest energy company in Denmark said.The new operating model creates a more scalable organisation for Ørsted’s international expansion which combines market proximity with global scale and efficiency.Ørsted’s Offshore business will be organised in four regions. Each region will be responsible for market and project development as well as asset management


01 Nov 2019

SGRE Lands World’s Largest Floating OWF

Spanish-based engineering company Siemens Gamesa Renewable Energy (SGRE) said that the world’s largest floating wind power plant will be installed in Norway, equipped with 11 Siemens Gamesa SG 8.0-167 DD turbines.Scheduled to be commissioned in late 2022, Hywind Tampen will be the first ever floating wind power plant to power offshore oil and gas platforms.“We are pleased to have received the firm order from Equinor to be the supplier of this ground-breaking project. Thanks to our strong collaboration and joint focus on innovation, we are now at the forefront of developing this exciting technology and unlocking the vast potential for floating offshore wind power


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