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STX OSV Wins Contracts for Two OSCV

Siem Offshore declares contract options for STX OSV Holdings to design & construct two Offshore Subsea Construction Vessels (OSCV). The vessels will be equipped with a 250t AHC crane and with Launch and Recovery Systems (“LARS”) for Remotely Operated Underwater Vehicles (“ROV”). Deliveries are scheduled from STX OSV Brattvaag in Norway in 2Q 2014 after the delivery of the hulls from STX OSV Tulcea in Romania. STX OSV already has two OSCVs under construction for the same customer in Norway, and two Platform Supply Vessels (“PSV”) in Brazil. Siem Offshore Inc. is an owner and operator of modern support vessels for the global oil and gas service industry. Siem Offshore Inc. currently has a fleet of 37 vessels in operation and 8 vessels under construction. Its fleet includes large AHTS vessels, OSCVs, PSVs, and other support vessels.  

STX Europe Q3: OSV Keeps Good Margin

Cruise & Ferries remain challenging. Highlights: STX Europe achieved operating revenues of NOK 4 480 million in third quarter 2012, a decrease of NOK 763 million compared to corresponding period 2011 (Q3 2011: NOK 5 243 million). Profit before tax for third quarter 2012 of NOK 250 million (Q3 2011: NOK 535 million).   Third quarter shows that healthy EBITDA results continue from STX OSV, while the result of Cruise & Ferries business area is not satisfactory due to lower than

STX OSV to Go Public in Singapore

STX Offshore and Specialized Vessels  is expected to launch an initial public offering in Singapore soon, according to a report on According to the report, STX OSV plans to debut there on Nov. 11.   (Source:

Rolls-Royce Wins $69m OSV Contract

UT 731 web.jpg

Rolls-Royce won a $69m order to design and equip two advanced offshore anchor handling vessels for Norwegian ship owner Farstad Shipping. The UT 731 CD vessels are designed and equipped to handle anchors for oil rigs, tow rigs to location and also serve as supply vessels. They can operate in extreme climatic conditions and ultra deep waters, undertaking precise rig manoeuvring operations in water up to 3,000m deep. They are also equipped for sub sea construction and installation duties

Offshore Support Vessel Shipyard Flourishes

Norway-based shipbuilders, STX Holdings, outperform the FTSE Straits Times Oil & Gas Index The offshore support-vessels builder has outperformed the FTSE Straits Times Oil and Gas Index, of which it is a component, making year-to-date returns of 38.8 per cent compared with the index's 16.8 per cent, reports 'Sgmarine Industries'. First and foremost, STX is in the right place at the right time, with the conventional shipbuilding sector having taken a hammering because new ships

Fincantieri to Take Controlling Interest in STX Offshore

Fincantieri signs agreement for the acquisition from STX Europe of 50.75% of STX OSV, leading offshore vessel constructors. With 21 shipyards in 3 different continents, nearly 20,000 employees and revenues of Euro 4 billion, the Fincantieri Group is doubling its size. Fincantieri now becomes one of the top five shipbuilders worldwide and the leading Western producer, also in terms of diversification and presence in the high value added segments

Island Offshore Chooses Rolls-Royce Propulsion Systems

UT776 CD_web.jpg

Rolls-Royce recently won a £20 million (over $32.5 million) order to design and supply power and propulsion systems for two UT 776 CD supply vessels for Island Offshore. Island Offshore were the first to introduce the UT 776 CD ship, which is designed to transport supplies to and from offshore oil and gas platforms. These vessels are the ninth and tenth ordered by the operator to date. In addition to the ship design

Rolls-Royce Secures Two OSV Design Contracts

RR_DEsign web.jpg

Rolls-Royce, a global power systems company, today announced that it has won a £15 million order to provide design, integrated power and propulsion systems and equipment for two offshore service vessels for ship owner Island Offshore. The contract includes options of four additional vessels.   Per Kristian Furø, Rolls-Royce General Sales Manager – Offshore said: “We have worked very closely with Island Offshore over the last decade to develop a wide range of

Advanced Anchor-handling Vessel to Fit RR Deck Machinery

Rolls Royce wins a contract to supply safety critical deck equipment for Iceman AS operated new offshore anchor-handling vessel Rolls-Royce, has been awarded a £15 million contract by STX OSV to supply an extensive deck equipment package for an advanced anchor handling vessel to be operated by Iceman AS. The package, which is designed to improve operational safety, will include a new anchor handling frame (AHF) and a hydraulic anchor winch, which is capable of pulling 500 tonnes

Fincantieri 2012 Profits Up on Previous Year

Shipbuilders, Fincantieri, publish its 2012 financial results; announce resignation of Chairman Corrado Antonini. Highlights: ·         Profit for the year in excess of euro 15 million (euro 9 million in 2011); ·         EBITDA at euro 137 million (euro 138 million in 2011) with a margin of 5.7%; ·         Revenues at euro 2,385 million (euro 2

Helicopter Carrier Delivered to the Egyptian Navy

LHD Anwar El Sadat (Photo: DCNS)

French industrial group DCNS has delivered LHD (Landing Helicopter Dock) Anwar El Sadat, the second of two helicopter carriers acquired by the Arab Republic of Egypt.   The flag transfer ceremony took place September 16, 2016 in the presence of the two Chiefs of Staff of the Egyptian and

Navig8 Cancels Five Newbuildings at STX

Courtesy Navig8

Navig8 Chemical Tankers Inc. announced that it has cancelled contracts to construct five IMO2 49,000 DWT Interline-coated medium range tankers at STX Offshore & Shipbuilding Co., Ltd. which were to be delivered during 2017. Contracts ordering the cancelled vessels were previously announced

France Mulls Majority Stake in STX Yard

France could take a majority stake in the French subsidiary of struggling South Korean shipyard group STX Corp, French daily Liberation said on Monday, citing unnamed sources at the finance ministry. The French state holds a 33 percent minority stake in STX France

DCNS Mulls Buying Stake in STX France

Photo: STX France

The head of the French state-controlled naval defence group DCNS said on Wednesday it was "closely studying" a possible stake purchase in STX France, a shipyard subsidiary of the struggling South Korean conglomerate STX Corp.  

STX Shipbuilding Struggles to Survive

Image: STX Offshore & Shipbuilding Co Ltd

 STX Offshore & Shipbuilding may be put under a court-led restructuring scheme, paving the way for the shipyard to avert liquidation, says a report in Korea Times quoting local court.   Last month, STX Shipbuilding, once Korea's No

Harmony of the Seas Equipped with PALFINGER Crane

Harmony of the Seas (Photo: PALFINGER MARINE)

The world’s largest cruise ship, Harmony of the Seas, is equipped with a PALFINGER MARINE foldable knuckle boom crane. A follow-up order for an identical crane and cruise ship is already received.   The vessels was built at STX in St

Navig8 Acquires Chemical Tanker from STX

Photo Navig8

Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Topaz, a 49,000 DWT IMO2 Interline-coated chemical tanker $28.4B Worth of Ships Delivered to Date


As the calendar now indicates we have passed the half year mark on 2016, offers insight on the number and value of all the 2016 built vessels that have been delivered so far vs how many are still yet to be delivered.  

STX Heavy Under Rehabilitation Process

Photo: Pan Ocean

 The Seoul Central District Court begins  a rehabilitation process for STX Heavy Industries Co, after the financially strapped company applied for protection late last month, reports Yonhap.   STX Heavy Industries is the latest victim in South Korea's faltering maritime industry

STX to Slash Jobs, Sell Yard

Photo by STX Offshore & Shipbuilding Co., Ltd

To stay above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.   The country's fourth largest shipyard filed for receivership in May

MN100: BlueTide Communications

Photo: BlueTide Communications

The Company: BlueTide is a leader in the provisioning, implementation, monitoring and support of satellite equipment. Combining the power of HUGHES proprietary managed network technology with people who fundamentally understand the power of connectivity under extreme circumstances

MN100: MOPS Marine License Insurance

MOPS manager Randy ONeill (Photo: MOPS Marine License Insurance)

The Company: Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms, representing almost 200 experienced maritime attorneys

Two Buyers Eye Struggling STX France Shipyard

(Photo: STX France)

Two potential buyers have emerged for STX France, a shipyard subsidiary of the struggling South Korean group STX Corp, according to a French finance ministry source.   The French state holds a 33 percent minority stake in STX France, which runs a naval shipyards in Saint Nazaire on the west

Damen, Fincantieri Potential STX France Buyers

Photo: STX France

Dutch group Damen shipyards and Italian group Fincantieri are the two potential buyers that have emerged for STX France, a shipyard subsidiary of the struggling South Korean group STX Corp, French daily Le Monde said on Thursday.   "Two foreign candidates

Shipbuilding Giants Bid for STX France

Photo: STX Offshore & Shipbuilding

 Italian shipbuilding giant Fincantieri SpA and Dutch counterpart Damen Shipyards Group are in the running to buy STX France, which has been put on the block by Korean debt-ridden parent STX Offshore & Shipbuilding Co, reports WSJ.  

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