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London Offshore Consultants Expands in Asia

Kenny Ong, Manager of LOCs new Vietnam office in the port of Vung Tau, which will formally begin operations in May 2013. Photo: LOC

New office in Vietnam at the port of Vung Tau announced at Maritime Vietnam London Offshore Consultants (LOC) announced further expansion in Asia Pacific with the opening of a new office in Vietnam. The new office in the port of Vung Tau, which will formally begin operations in May, will be managed by Kenny Ong, who is highly experienced in major offshore oil and gas projects across Asia, especially in Vietnam. The office will provide oil majors, contractors, underwriters, and other insurers operating in Vietnam’s oil and gas sectors with specialist consultancy services for planning, design and execution of complex, high-value marine and energy-based operations. LOC’s expertise is in the construction, marine transportationand installation of structures onshore and, in particular, offshore. The group offers technical consultancy such as front-end advice on new technologies, assessing viability of proposed operations, approving such operations and monitoring their execution. Investigating operational problems is also covered by LOC’s remit. LOC’s client profile in Vietnam is oil majors including the national oil company, PetroVietnam, and its various arms and international and national offshore contractors working in Vietnam. These include both domestic underwriters and the international insurance market, particularly those insuring either the oil major or the project contractor. www.loc-group.com


Otto Marine Clinches Australia AHTS Contracts

AHTS Go Spica: Photo Otto Marine

Otto Marine says it has clinched AUD57-million worth of charter contracts in Australia for two of its large deep water AHTS vessels. Otto Marine Limited, which owns and operates a large fleet of offshore support vessels, with shipyard and other specialized offshore services, says that it has secured time charter contracts with two oil majors for its deep water anchor handlers, GO Sirius and GO Spica. Employed in drilling and pre-lay support, the 16


Profitable Year for Shipbuilding Companies

Increased spending on offshore exploration & production (E&P) of oil and gas has increased order-book positions of Indian shipbuilders. ABG Shipyard has an order backlog of Rs 1,300 crore, while Bharati Shipyard has pending orders worth Rs 676 crore on its books. The jump in order books is getting reflected in stock prices of these companies as well. BSL has seen its market cap soar to almost Rs 900 crore from Rs 309 crore at the beginning of 2005


Total Says Nigeria’s Oil Bill Will Hurt Industry

According to a September 21 report from the Associated Press, a top official at French oil major Total SA warned that a proposal to overhaul Nigeria's oil industry would hobble foreign investment, just as the firm prepares to bring a major offshore field into production. Analysts said the petroleum bill would sharply reduce the profits of foreign oil companies like Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell PLC and Total, all of whom have subsidiaries operating oil fields in Nigeria


EMAS Wins US$110-million Subsea & Offshore Contracts

EMAS logo web.jpg

Singapore's EMAS, the operating brand of Ezra Holdings, announce that its Subsea Services (EMAS AMC) and Offshore Support Services (EMAS Marine) divisions have been awarded projects worth US$110 million. These projects will be executed in the Gulf of Mexico and the Asia-Pacific region. EMAS AMC’s project wins come from a national oil company operating in the Gulf of Mexico for a SURF type offshore installation project


Oil Majors Report High Profits

Driven by the sustained high price per barrel of oil, oil majors Chevron and Amerada Hess today announced outstanding financial results for the second quarter. Chevron, the No. 2 U.S. oil company, posted second-quarter profits which more than doubled, matching analysts' expectations, thanks to stronger oil and natural gas prices. Second-quarter earnings excluding special items rose to $1.14 billion, or $1.75 a diluted share, from $484 million, or 73 cents a diluted share, in the year ago period


TEN Wins Shuttle Tanker Contract

Tsakos Energy Navigation Ltd. (TEN) (NYSE: TNP or the “Company”) today announced two 15-year time charters with a national oil major for two DP2 Suezmax shuttle tankers with delivery within 2012. These charters are expected to generate revenues of at least $520m over their corresponding periods. The return on equity anticipated from this project is attractive when compared to other mainstream shipping projects and our overall investment criteria and will make a significant


GL Noble Denton Opens Office in Trinidad

Technical service provider for the oil and gas industry GL Noble Denton has opened an office in Port of Spain. With upstream and midstream capabilities across the complete asset lifecycle, GL Noble Denton already provides international oil majors, independent operators and E&C companies in the region with technical design, consulting, assurance and execution services. Trinidad's economy is strongly influenced by the petroleum industry


BMT Group Created from Merger

The BMT Group, maritime design, engineering and risk management consultancy, announced the merger of three companies, BMT SeaTech, BMT Argoss and the Southampton and Polish businesses of BMT Cordah. The merged entity will retain the name of BMT Argoss. The capabilities of each company are being brought together to offer customers full turn-key solutions. In the Oil and Gas sector, BMT is working with oil majors to provide environmental information


Erika Captain Says Tight Budgets Overrode Safety

The captain of the tanker Erika, which sank off France's west coast in December causing a huge oil spill, said crews had to work to such tight budgets that safety standards could not always be met. "There are certain things that nobody dares to say, but the job has changed a lot, everything is going too fast, everything is dominated by money," the 36-year-old captain said. The Erika's crew was winched to safety when the vessel split apart and sank in stormy seas on December 12.


Tankship-specific Version of FindaportCD Released

Port arrival: File photo

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port information available from their desktops without having to rely on expensive satellite connections.


Ulstein Designs PSVs for Otto Offshore

Ulstein has entered into a contract with Wuchang Shipbuilding Industry on design and equipment deliveries for four PSVs of the PX121 design for Otto Offshore. The contract includes an option for four more vessels. (Image: Ulstein)

Ulstein Design & Solutions has entered into a contract with Wuchang Shipbuilding Industry Co., Ltd, China, for the delivery of ship design and equipment for four PX121 type platform supply vessels. The shipowner is the Singapore based Otto Offshore Ltd., who will receive all vessels in 2016


Lukoil Shipped Canadian Crude from Houston

Russian oil major Lukoil has emerged as one of the first companies to buy Canadian crude re-exported from a U.S. port, shipping one cargo last month to its refinery in Augusta, Italy, data showed on Tuesday. A 445,000-barrel cargo of Canadian Sour grade loaded on the Sifnos


Tsakos Energy Navigation Ltd to Build LR1s for Oil Major

TENs LR1

Tsakos Energy Navigation Limited (TEN) announced today the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months respectively with charterers options for another 12 months for each vessel at an accretive base rate with profit sharing


TEN Charters Out Suezmax Tankers

Nikolas P. Tsakos, President and CEO of TEN (Credit: TEN)

Tsakos Energy Navigation Limited (TEN) announced the chartering of two of its modern Suezmax tankers with a European oil major for 24 and 12 months, with charterer options for another 12 months for each vessel at a base rate with profit sharing


Pemex to Launch Transport, Drilling Companies in 2015

pemex.jpg

Pemex, Mexico's state oil company, will launch new companies next year as it restructures following landmark energy reform, Pemex Chief Executive Officer Emilio Lozoya told local radio on Monday. "The business plan that we're considering for the next year will involve an internal


Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy. Monroe Energy LLC, the Delta subsidiary that runs the airline's 165


Ardmore Shipping Secures Newbuilding Finance

Ardmore Shipping tankship: Photo courtesy of the owners

Ardmore Shipping Corporation says it has signed agreements to upsize its existing senior loan facility with ABN AMRO Bank N.V., Nordea Bank Finland Plc, and Skandinaviska Enskilda Banken AB ("SEB"). The total amount available under the facility has been increased by $53 million to $225


Kleven Shipbuilding Wins IES Pioneer Contract

Image courtesy of Kleven Shipbuilding

Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design company MarinTeknikk’s MT 6015 MPSV design and will be outfitted with a crane, helideck and FiFi II


Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm

An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for Exxon Mobil Corp. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig


Exxon Rig Enters Uncharted Waters of Russian Political Storm

U.S. sanctions on Russia include Rosneft, Exxon's partner: Project may not break sanctions, but brings political risks. An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise


ENI Signs Deal to Expand Oil, Gas Exploration in Congo

Italian oil and gas group Eni said it signed a deal to explore for hydrocarbons in the Republic of Congo's coastal basin, expanding its foothold in sub-Saharan Africa's No. 4 oil producer. At a signing ceremony in capital Brazzaville


Total Has Moved Tripoli Expatriates out of Libya

French oil major Total has moved all expatriate staff based in Tripoli out of Libya following heavy fighting at the North African country's biggest airport in recent days, a spokeswoman said on Friday. "Following what happened at the airport


Shell Offers $51M to Settle Nigeria Oil Spills

Royal Dutch Shell is ready to pay up to 30 million pounds ($51 million) in compensation for two oil spills in Nigeria in 2008 after a London court rejected a larger claim, sources involved in the case said on Friday. Around 11,000 residents of the Bodo community in the Niger Delta represented


2014 . . . And the Story Continues

Greg  Trauthwein, Editor & Associate Publisher

Having sat in this seat for more two decades I am sometimes asked if I’m tired of the job and ready to move along. (Thankfully, though, that question has never come from my boss.) Unequivocally the answer is “no.” While the maritime industry is often erroneously labeled as






 
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