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Offshore Reports

Diamond Offshore Reports 4Q Results

Deepwater drilling company Diamond Offshore announced fourth quarter and full-year earnings. Results were solid, with revenues and earnings showing big increases on both a quarterly and an annual basis. Compared to the fourth quarter of 2005, revenues rose 57 percent and earnings per share rose 106 percent. Full year figures demonstrated similarly gaudy growth, as revenues rose 68 percent and earnings per share were up an astronomical 168 percent. Source: The Motley Crew


Horizon Offshore Reports Barge Incident

Horizon Offshore said today that one of its vessels, the lay barge Lone Star Horizon, suffered moderate damage due to a fire while at anchor off Ciudad Del Carmen, Mexico. The vessel crew was evacuated and no injuries requiring medical treatment were reported. The Lone Star Horizon had recently completed the KIX pipeline project for PEMEX, and was preparing for demobilization to the U.S. Gulf of Mexico. The fire, which was limited to the generator control room, occurred at about 3:00 p.m


W&T Offshore Reports 2Q Results

Oil and gas explorer W&T Offshore Inc. said its second-quarter profit rose 18 percent on higher revenues from its August 2006 acquisition of Kerr-McGee properties. Net income rose to $45.5 million, or 60 cents per share, from $38.5 million, or 58 cents per share, a year earlier. Revenue rose 64 percent to $272.6 million from $165.8 million. Analysts polled by Thomson Financial expected, on average, earnings of 46 cents per share on revenue of $263.8 million.


Horizon Offshore Reports Third Quarter Earnings

Horizon Offshore, Inc. reported net income for the quarter ended September 30, 2001, of $2.8 million. This compares with net income of $3.7 million, for the third quarter of 2000. For the third quarter of 2001, the company reported gross profit of $7.7 million, or 12.6 percent, on contract revenues of $61.0 million, compared with gross profit of $10.3 million, or 18.2 percent, on contract revenues of $56.3 million in 2000.


CSO Deep Blue Starts Work in the GOM

Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Alabama. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen


CSO Deep Blue Starts Work in the GOM

Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Ala. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen fields


FEATURE: Staking a Claim in GOM and Beyond

Todd Hornbeck, who has quickly yet judiciously built a sizeable marine company at Hornbeck Offshore Services, Inc. in just five years, shares with MarineNews the secrets of his success. by Greg Trauthwein Upon meeting with Todd Hornbeck, President and CEO of Hornbeck Offshore Services, Inc. at the literal epicenter of big oil dollars - the recent Offshore Technology Conference (OTC) in Houston - one is continuously struck with the contrasts of the man and mission


Stolt Offshore Completes Platform Salvage

Stolt Offshore reported it has successfully completed the Eugene Island 275A platform salvage project for Total E&P USA, INC., in what is described as the first platform salvage using only mechanical cutting devices. The platform was located on OCS-G-0988, some 70 miles off the Louisiana coast in 180 ft. of water. "Because of environmental and safety objectives, Total E&P USA asked Stolt to conduct the salvage operation without an arc being struck under water


Offshore Wind: A $16B Business

Offshore wind will see $16 billion of capital expenditure in the coming five year period as 4.5 GW of new capacity is installed, according to The World Offshore Wind Report 2008-2012, published by Douglas-Westwood. With just over 1.1 GW of capacity currently installed, this represents significant market growth and leads to an annual capital expenditure of over $5.2 billion by 2012. In comparison to the previous five year period


Mobile Offshore Drilling Units – New Market Forecast

A research report estimates the value of the global mobile offshore drilling market to be US$ 48.1-billion in 2012 An excerpt from the report follows: Oil and gas production from offshore resources is of considerable importance for energy companies as existing base resources are being depleted at a rapid rate. New significant oil discoveries are becoming less common, with the majority of major finds being offshore


Dales Marine Fills Its Scotland Docks

Photo: Dales Marine

Ship repair and specialist fabrication firm Dales Marine reports a first time achievement as all of its seven docks around Scotland are full for the first time today.   Dales Marine’s docks are filled with vessels ranging from offshore supply vessels to ferries


Keppel Q4 Profit Up; 2014 Profit Beats Street

Keppel Corp's full-year profit up 2 pct at S$1.9 bln. Singapore's Keppel Corp Ltd said fourth-quarter net profit rose 6.1 percent to S$725.9 million ($544.8 million), while its full-year profit rose 2 percent and beat analysts' consensus.


BASS Lands Reederei Hamburger Lloyd Contract

Photo: Hamburger Lloyd

Reederei Hamburger Lloyd GmbH & Co KG (RHL), signed a contract with BASS on December 31, 2014, for virtually the full suite of BASSnet software solutions for its fleet of 28 container ships and chemical tankers.    BASS said its shipping software solutions cover all major aspects


Obama’s Address Missed Energy Opportunities -NOIA

President Barack Obama delivers the State of the Union address in Washington, D.C., January 20 (Official White House Photo by Pete Souza)

NOIA President Randall Luthi issued a statement in response to President Obama’s 2015 State of the Union Address, stating that the President missed a few key points regarding domestic onshore and offshore energy production and supply, and its impact on the U.S. economy.  


Eversendai Offshore Selects AVEVA Software

AVEVA Marine is a set of integrated applications created specifically for the unique processes in the engineering and design of ships and offshore structures (Photo courtesy: AVEVA)

AVEVA announced that Eversendai Offshore, a brand new customer, has made a significant investment in AVEVA’s Integrated Engineering & Design solutions through its deployment of AVEVA Marine. The agreement includes the full suite of AVEVA Marine engineering and design applications that


US Judge: BP Spill Smaller Than Feared

Photo: BP

BP Plc will face Clean Water Act fines for its Gulf of Mexico oil spill of up to $13.7 billion, less than a maximum of $17.6 billion it could have been fined, after a judge ruled on Thursday the size of the spill was 3.19 million barrels.  


Deloitte : Investment Crucial for UKCS

United Kingdom Continental Shelf

  The North Sea needs continued investment from businesses and government through its current period of transition, according to a new report from Deloitte, the business advisory firm. Deloitte’s Petroleum Services Group’s latest North West Europe Review, which details drilling


Are Offshore Ports the Future?

(Photo: DEME, Belgium)

The benefits of offshore ports in the U.S. & Africa In many parts of the world, offshore ports are a good solution for meeting the requirements of the rapid changes in the international container and bulk shipping industry. Bigger ships


Great ships of 2014: Siem Moxie

11408.1_SIEM MOXIE web.jpg

The ISV Siem Moxie, an Ulstein SX 163 design not only has been deemed a “Great Ship” in our pages, it has also been awarded the “Offshore Renewables Awards 2014” and the “Innovation Awards” by an international panel.  The Siem Moxie measures 242 x 55.7 ft


Palfinger Adds Winch Line with NDM Acquisition

Photo: Palfinger Marine

Palfinger Marine acquires Norwegian Deck Machinery AS, expands product portfolio with new deck winches    Palfinger Marine has expanded its product portfolio with the acquisition of Norwegian Deck Machinery AS (NDM), stating NDM’s position within the design and development of


ULSTEIN to Build 2 Offshore Wind Service Vessels

Image courtesy of the Ulstein Group

Ulstein Verft has signed a shipbuilding contract with the Germany-based Bernhard Schulte for two service operation vessels (SOVs) of the ULSTEIN SX175 design developed by Ulstein Design & Solutions. The final detailed arrangements and equipment for the vessels have been developed and specified


N-Sea, Siem Offshore Extend Charter Agreement

Siem N-Sea (Photo courtesy of N-Sea)

Inspection, maintenance and repair (IMR) specialist N-Sea has extended its charter agreement with Siem Offshore following three years of operations. The renewed agreement, concerning Siem Offshore’s offshore subsea construction vessel, Siem N-Sea (previously Siem Stork)


Bureau Veritas Selects New Offshore Lead

Matthieu de Tugny (Image: Bureau Veritas)

Matthieu de Tugny to lead Bureau Veritas' offshore activities Bureau Veritas has appointed Matthieu de Tugny as Senior Vice President in charge of offshore activities within the marine and offshore operating group. He is tasked with driving forward Bureau Veritas Group initiatives in the oil


Floating Production: What’s New in January?

Photo: Petrobras

  2014 Floater Orders – We thought it would be useful to provide a summary of floater orders placed last year. As listed below, 25 units were ordered during the year - 10 FPSOs, one Barge, four FLNGs, seven FSRUs and three FSOs.    FPSOs (10) • Kaombo CLM


Offshore Cable Layer Delivered to Van Oord

Offshore Contractor Van Oord has taken delivery of the Damen Offshore Carrier 8500 Cable Layer Nexus, which, when all cable laying equipment is installed, is intended to install electricity cables for the Gemini Offshore Wind Farm. (Photo: Damen)

First delivery of Damen’s new ship design: the DOC 8500 Cable Layer   Damen delivered a new DOC 8500 cable laying vessel, Nexus, to international offshore contractor Van Oord on December 22. The 126-metre vessel is intended for the installation of electricity cables for offshore wind






 
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