Secures Contracts News

Norwegian offshore vessel owner Solstad Offshore said Wednesday it had won multiple vessel contracts and extensions, with a duration of the contracts of around 1,000 vessel days in total.Solstad's platform supply vessel Normand Leader has been contracted to support a project offshore Australia. The contract is scheduled to start in Q3 2021 and will keep the PSV busy throughout 2021.The company further said that the charterers of the PSV Normand Tortuga have declared options to extend the current contract until the end of 2021.

Revenues for the second quarter of 2014 were US$1,222 million compared to US$1,221 million in the first quarter of 2014, according to the company's financial report. Operating profit for the quarter was US$476 million compared to US$890 million in the preceding quarter. The decrease is primarily due to inclusion of the gain on sale of the West Auriga sale of US$440 million in first quarter results. Net financial and other items for the quarter showed a gain of US$71 million compared to a gain of US$2,239 million in the previous quarter. The gain is primarily related to the sale of SapuraKencana shares and income received from Seadrill Partners of US$59 million, partially offset by a loss from Archer of US$5 million and a loss on derivative positions of US$95 million.

Contracts from a European company to build one (1) DP3 accommodation barge scheduled for delivery in 3Q2016 and an Asian company for two (2) 64,000DWT bulk carriers scheduled for delivery in 1H2016. Additionally, the contract under the second option cited in the announcement dated 12 September 2013 to build one (1) 64,000DWT dry bulk carrier for a European company has been rendered effective. The bulk carrier is scheduled for delivery in 2Q 2017. Contracts from an Asian company to build two (2) 82,000DWT bulk carriers scheduled for delivery in 4Q2015 and 1Q2016 respectively; and a European company to build two (2) 82,000DWT bulk carriers scheduled for delivery in 2Q2016 and 3Q2016 respectively.

COSCO Corporation's Nantonng, China shipyard secures contracts for two accommodion units valued at over US$170-million each. The contracts placed by an unspecified Singapore company are for  the conversion of two semi-completed hulls to high- end floating accommodation units ("FAUs") valued at over USD170 million each. COSCO add that the contract for the first unit is effective. The units are scheduled for delivery 24 months after the contracts are declared effective and they will make an announcement when the contract for the second unit is rendered effective in six months’ time. The contracts are not expected to have a material impact on the net tangible assets and earnings per share of the Company for the year ending 31 December 2013.

Aberdeen, Scotland-based XPD8 Solutions' condition monitoring team secures contracts valued at more than £2-million. The company, which specializes in the management of maintenance systems for oil and gas producing assets, has been awarded contracts to deliver further condition monitoring support to CNR, Wood Group PSN and Hess over the next three years. XPD8 currently has a full order book, and to prepare for future growth the company will create 18 positions across all departments in 2013. The contract to provide condition monitoring services to CNR’s platforms in the North Sea will see XPD8 maintain its existing links with the operator stretching back more than five years.

DOF Subsea AS secures contracts in Asia, Atlantic and Gulf of Mexico regions with total value of about US$50-million. In the Asia Pacific Region DOF Subsea have secured several new contracts and extension of existing contracts with a total contract value of about US$ 20-million. The contract award will increase the utilisation of the region’s vessels Geobay, Skandi Singapore and Skandi Hercules. In the Atlantic region DOF Subsea have been awarded several new contracts and extension of existing contracts with a total contract value of USD 24 millions.

Jaya Holdings Limited (“JAYA”) has announced that it has, through its wholly owned subsidiary, Jaya Shipbuilding and Engineering Pte Ltd, secured ship building contracts of approximately US$84 million to deliver a 5,150 bhp Anchor Handling Tug and Supply Vessel (“AHTSV”) and a 16,000 bhp AHTSV. The 16,000 bhp AHTSV, one of the largest vessels to be built by JAYA, is constructed and designed for offshore support and is capable of oil rig towing, oil rig positioning and anchor handling, offshore oilfield supply, stand by rescue, and iceberg towing/ice management. The state of the art vessel is Ice Class 1A; giving it the ability to navigate in moderate level ice conditions and northern regions.

The ships are being built in several shipyards in China for delivery throughout 2013 and 2014 to Coastal Offshore, Nam Cheong, Ezion Holding and Middle East interests. Cargotec is supplying anchor-handling/towing solutions for two 59m anchor-handling tug/supply vessels, a 56.2m anchor-handling tug, and five 50m towing/utility vessels. Positioning mooring solutions are destined for two 100m/300-person accommodation/work barges, two 85m subsea maintenance/work support vessels, a 60m diving support vessel and two 105m subsea operation vessels. “Most of the system components are established designs, and we have combined them to meet the needs of a particular ship type,” said Francis Wong, Cargotec’s sales director for offshore winch solution.

Paradigm Drilling Services has had a strong start to 2012, securing over £1 million of new contracts in the UK and overseas. The Aberdeenshire-based firm has signed a five-year lease on a 3,000 square-foot building adjacent to its headquarters on Thainstone Business Park, including workshop and office space to expand its research and development facilities with new drilling technology to be launched later this year. A recruitment drive is underway. More than 30 people are now in place…

ASL Marine Holdings Ltd., a marine group engaged in shipbuilding, ship-repair and conversion, as well as ship chartering, has secured contracts worth S$132.5 million for the construction of five vessels. The vessels comprised four 75-tonne bollard-pull Diesel Electric Hybrid Azimuth Stern Drive Tugs and one Platform Supply Vessel, scheduled for delivery between the fourth quarter of 2013 and the fourth quarter of 2014. Separately, the Group’s ship-repair division also secured conversion and upgrading works for two drilling rigs. ASL Marine owns and operates shipyards in Singapore, Batam (Indonesia) and Guangdong (China), providing a comprehensive range of marine engineering services spanning myriad sectors/ industries.

Intertek has secured more than £5 million of new contracts for oil and gas technical inspection, training and staffing in the last six months through its North Sea Moody businesses. Intertek acquired Moody International last year in a £450 million deal. The company is currently investing £15 million in new Aberdeen headquarters in Scotland for its energy services, and the Intertek Moody teams are among the first to move to the new premises. The new center on the Energy Park in Bridge of Don is currently being renovated, and 160 staff expected to be based there by June.

Keppel Shipyard Ltd. (Keppel Shipyard) has secured Floating Production Storage and Offloading (FPSO) upgrading projects from its long-term partners SBM Offshore N.V. (SBM Offshore) and Bumi Armada Berhad (Bumi Armada). The combined contract value of the two projects is S170 million. The first project is from SBM Offshore to refurbish and upgrade an existing FPSO vessel, FPSO Xikomba. Work on this FPSO unit is expected to be completed by the third quarter of 2013. Leased by Eni Angola S.p.A (eni) for 12 years for the development of Block 15/06, offshore Angola, FPSO Xikomba is jointly owned by SBM Offshore and Sociedade Nacional de Combustíveis de Angola, E.P. (Sonangol), Angola's national oil and gas company.

Keppel Offshore & Marine Ltd (Keppel O&M) through its subsidiaries, Keppel Singmarine Pte Ltd (Keppel Singmarine) and Keppel Verolme BV (Keppel Verolme), has secured contracts totaling S$150 million from international customers. Keppel Singmarine, the specialised shipbuilding division of Keppel O&M, has entered into contracts for the building of a 91-metre container vessel and three 4000 DWT (deadweight tonnage) bulk ore/fuel carriers for Papua New Guinea customer Ok Tedi Mining Limited (Ok Tedi Mining), while Keppel Verolme, Keppel O&M's comprehensive yard in the Netherlands, is undertaking upgrading activities of a semisubmersible drilling rig, Scarabeo 6, for Italian customer Saipem Misr for Petroleu Services S.A.E. (Saipem).

Global Offshore accommodation specialist HB Rentals announced that it has secured recent contracts worth in excess of $1.5m for modules on platforms in the North Sea. The contracts have been agreed with various companies including Petrofac, Lundin Britain, Ensco and E-ON Rurghas. HB Rentals operates worldwide with a fleet of more than 400 A60 units containing a mix of sleeper accommodation cabins, galleys, mess rooms, recreation rooms, laundry rooms, offices, heliports, laboratories, gymnasiums and well-support cabins as well as other custom fit-outs as desired by its worldwide customer base. HB Rentals is operates worldwide and is capable of supplying units which meet the latest American Bureau of Shipping (ABS)…

Keppel Shipyard has secured three new FPSO contracts worth a total of around S$160 million. These conversion contracts are from regular customers Single Buoy Moorings Inc (SBM), Prosafe Production Pte Ltd and newcomer Four Vanguard-Servicos e Navegacao Lda. The preferred shipyard of SBM in the Far East, Keppel Shipyard is expected to complete the conversion of Amazon Eagle for SBM by the second quarter of 2003. Amazon Eagle is the sixth conversion project that Keppel is undertaking for SBM, which owns and operates the world’s largest fleet of FPSO and FSO. The 307,431 dwt tanker, which has arrived in the yard, will be deployed to the Zafiro field off Equatorial Guinea upon completion.

Keppel FELS Limited (KFELS), the offshore arm of the Keppel Group, through its subsidiary in Brazil, FELS Setal SA, has signed two contracts worth a total of $104 million. These jobs bring FELS Setal’s total contracts secured to $250 million since its incorporation 18 months ago. The first job clinched is the $90 million contract for three Anchor Handling Tugs / Supply vessels (AHTS) for Delba Maritima, a Brazilian offshore vessel operator. This follows the Letter of Intent recently announced on October 30, 2001. In February 2001, Halliburton awarded FELS Setal a $75 million contract for the marine conversion of VLCC Stena Concordia to an FPSO to be renamed P-48.For the building of the AHTS…

Offshore Systems International Ltd. has won new contracts for more than $341,467to immediately additional Royal Danish Navy ships with electronic chart navigation systems. OSI won its first open international win and major NATO contract outside of Canada in August 2001 with the Royal Danish Navy. In each year since the initial contract, OSI has received follow-on orders for additional services, upgrades or new equipment from the Navy.

Keppel Verolme BV has secured two contracts totaling $109m on the back of an upsurge of offshore activities in the North Sea. Of the two new contracts, one is a repeat order for the outfitting of a Floating Production Storage and Offloading (FPSO) facility, Sevan Voyageur, for Sevan Production AS. Work is expected to be completed in the summer of 2008. This is the third cylindrical FPSO facility that Keppel Verolme is carrying for the same owner. The vessel has an oil storage capacity of 300,000 bbls, with an oil process capacity of 30,000 barrels/day and a water injection capacity of 20,000 barrels/day. The world’s first cylindrical FPSO facility, Sevan Piranema, was completed in Keppel Verolme in January 2007.

Aker Yards ASA said it won an order from DOF ASA for a diving support vessel (DSV), and a contract from DOFCON ASA and Technip for a second DSV. For DOF, Aker Yards will build a DSV based on Aker Yards' Aker DSV06 design, while the other DSV will be to the Aker OSCV-06L DSV design. Source: Forbes

An artist impression of the icebreaker and the ice breaking supply ship, which Keppel Singmarine is building for LUKOIL. The vessels are due for delivery between end 2007 & mid 2008. Keppel Singmarine has clinched contracts worth a total of $164.3m for two vessels from LUKOIL – Kaliningradmorneft (LUKOIL), a subsidiary of Russian oil company, LUKOIL Oil Company. The parent company of Keppel Singmarine, Keppel Offshore & Marine Ltd (Keppel O&M), has also signed an agreement with LUKOIL for further co-operation in potential newbuilding of offshore rigs, special purpose offshore facilities and vessels to service LUKOIL's offshore oil terminal vessels at Keppel O&M shipyards around the world. The vessels will be delivered to their owner between end 2007 and mid 2008.

ASL Shipyard Ltd has secured new shipbuilding and fabrication contracts worth a total of $68.2m for construction of one unit Self-Propelled Cutter Suction Dredger and the fabrication, outfitting and reinstatement works to a Heavy Transport Vessel.  The shipbuilding contract for the Self-Propelled Cutter Suction Dredger is secured from a long-term customer of the Group and it is expected to be completed in 2011. The scope of shipbuilding works includes the installation of certain equipment to be furnished by the customer. The contract for the fabrication, outfitting and reinstatement works to a Heavy Transport Vessel involves the installation of grillage and skidbeams. The contract works are expected to be completed in August 2009.

W&O Supply has secured contractual agreements with Transocean Offshore, Inc. and Teekay Shipping, two recognized leaders in the offshore exploration and marine shipping industries. The general service agreements designate W&O Supply as primary provider of marine valves and related products for Teekay Shipping’s fleet and Transocean’s offshore drilling rigs. W&O Supply’s reputation for distributing quality marine products quickly and efficiently were major factors in the company being awarded both contracts. Valves, pipe and fittings are critical components of ships and offshore rigs and their failure can lead to costly interruptions in operations.

Keppel Singmarine Pte Ltd (Keppel Singmarine), a wholly owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has secured a repeat contract from Greatship Global Offshore Services Pte Ltd (Greatship) to build two platform supply vessels (PSVs). Deliveries for these two PSVs will be between end 2009 and the first quarter of 2010. The vessels are similar to the two PSVs ordered by Greatship, a Singapore registered company headquartered in India, two weeks ago. At 308 ft. in length, each vessel is to be equipped with electric propulsion system powered by 8160kw (total) generators, a dynamically positioned system (ll) provided by 2 x 2600kw steerable thrusters and 2 x 1050kw tunnel thrusters.