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Tender Rig News

30 Jun 2021

Saipem Charters Ultra-deepwater Drillship from Samsung Heavy Industries

Italian oilfield services giant Saipem has chartered a newbuild drillship directly from South Korea's Samsung Heavy Industries shipyard.Saipem expects the drillship - named Samsung Santorini - to be delivered in November 2021, when the Italian firm will take the 7th generation rig on a two-year charter. No dayrate details have been shared. Recent fixtures for 6th/7gen rigs saw dayrates in the $190.000-$210.000 per day range, according to Bassoe data.While Saipem did not explicitly say it…

09 Dec 2014

Construction of Mermaid Ausana Begins

Mermaid Maritime Public Company announced that it has marked the start of its new vessel / rig construction by participating in a steel cutting ceremony for its performance class tender rig ‘MTR-3’ and DP2 multipurpose subsea dive support and construction vessel ‘Mermaid Ausana’. The ceremony took place at the shipyards of China Merchants Heavy Industry in China in Nantong and Shenzhen, respectively. The ‘MTR-4’, which will be identical to the ‘MTR-3’, is scheduled to have its steel cutting ceremony two months later. The ‘MTR-3’ and ‘MTR-4’ will be state-of-the-art performance class tender assist drilling rigs incorporating the latest modern design features, and will be the most advanced tender rigs in the market when they are delivered in 2016.

01 May 2014

Dramatic Turn-Around in COSCO's Q1 2014 Finances

Offshore marine engineering, shipbuilding, ship repair & conversion and dry bulk shipping group,  COSCO Corporation (Singapore) reports a Q1 2014 gross profit increase increase Y/Y of 21.8%. Group turnover increased 41.8% to $1.04 billion in Q1 2014 from $733.0 million in Q1 2013 on the back of increase in shipyard revenue. Turnover from shipyard operations increased by 43.2% to $1.03 billion from $719.2 million in Q1 2013, supported by higher revenue contribution from ship repair and marine engineering which more than offset the decline in revenue from ship building. Gross profit increased 21.8% from $78.6 million in Q1 2013 to $95.7 million in Q1 2014 mainly due to higher profit contributions from dry bulk shipping and shipyard operations.

30 Apr 2014

China Shipyard Delivers Tender Rig Barge

COSCO (Guangdong) Shipyard informs of the delivery of a self-erecting drilling tender barge, to the firm Energy Drilling. The tender barge has a working depth of 2,000 meters, a drilling depth of 20,000 feet and is equipped with heavy lift cranes with a safe working load of 400 metric tonnes. According to PetroWiki, Tender Assist Drilling (TADs) units were the rig of choice in the 1950s and early 1960s in the Gulf of Mexico for development drilling off fixed platforms. They are used less commonly now, but are appropriate for certain situations, and sometimes for new drilling from an aging platform near shore. Founded in June 2001, COSCO Shipyard Group Co., Ltd, is a subsidiary of China Ocean Shipping Company (COSCO).

14 Mar 2014

China Shipyards Deliver Tender Rig, Bulk Carrier

China Guandog Shipyard: Image credit COSCO

COSCO Corporation (Singapore) Limited informs of the delivery of two new vessels from shipbuilding yards in China. 1. COSCO (Nantong) Shipyard Co., Ltd , a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a tender rig,"T-18", to Seadrill. 2. COSCO (Guangdong) Shipyard Co. Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co. Ltd, has delivered a bulk carrier of 35,300 DWT, "FUAT BEY", to its Asian buyer. Founded in June 2001, COSCO Shipyard Group Co., Ltd, is a subsidiary of China Ocean Shipping Company (COSCO).

28 May 2013

Seadrill Record Best-ever Quarterly Result

Jack-up Rig West Ariel: Photo credit Seadrill

Seadrill announces favourable first quarter 2013 financial results. •    Seadrill completes the sale of 18 tender rigs to SapuraKencana Petroleum Bhd. As of March 31, 2013, cash and cash equivalents were US$361 million, an increase of US$43 million compared to the previous quarter. Net cash from operating activities for the period was US$423 million and net cash used in investing activities for the same period was US$1,074 million, primarily related to additional payments for newbuilds and the acquisition of the Songa Eclipse.

03 Apr 2013

China Shipbuilding Giant: 2012 Turnover Down, Profit Increase

COSCO Chairman Ma Ze Hua
: Photo credit COSCO

COSCO Chairman Ma Ze Hua
 comments on the group's 2012 annual financial report. It has been a challenging year for the Group. Turnover declined 10.3% to $3.7 billion, from $4.2 billion a year ago. Gross profit grew 27.3% from $380.8 million the previous year to $484.9 million for the year under review, mainly due to higher profit contributions from shipyard operations. Net profit attributable to shareholders amounted to $105.7 million, a decrease of 24.3% from $139.7 million in 2011. Earnings per share came in at 4.7 cents as compared to 6.2 cents in 2011.

22 Feb 2013

COSCO Turnover Down But 2012 Profitable

COSCO Group achieved net profit attributable to equity holders of $105.7 million on turnover of $3.7billion in 2012. Group turnover decreased 10.3% to $3.7 billion in 2012 from $4.2 billion in 2011 owing to a decrease in shipyard and dry bulk shipping revenue. higher profit contributions from shipyard operations. In 2012, turnover from shipyard operations decreased by 10.1% to $3.7 billion from $4.1 billion in 2011. This is due to lower revenue contribution from the ship building segment which more than offset the growth in revenue from marine engineering segment. As at 31 December 2012, the Group’s order book stood at US$6.1 billion with progressive deliveries up to 2015. This order book is subject to revision from any new or cancellation of orders that may arise.

21 Feb 2013

China Shipyard Wins Tender Rig Contract

COSCO (Guangdong) Shipyard Co. contracted by Energy Drilling Pte Ltd to construct a semi submersible tender assist rig. The contract is valued at over US$ 200-million, with an option for a second tender. The turn-key contract includes the supply of the DES (Derrick Equipment Set) and the delivery is set for June 2015. The rig is a GustoMSC Ocean400 TD design equipped to work alongside specialized deepwater trussed spars, tension leg platforms, and compliant towers outside of benign environments and is very well suited to production drilling in shallow water due to its ability to drill and mobilize quickly in adverse weather conditions.

26 Dec 2012

COSCO Deliver Offshore Tender Rig 'T-15'

COSCO Corporation (Singapore) subsidiary COSCO (Nantong) Shipyard Co., Ltd deliver a tender rig to Seadrill. The tender rig is designed to be placed in close proximity to an oil platform in order to assist in drilling operations. The new delivery is named 'T-15', and the delivery documents were signed by and between COSCO Nantong and Seadrill on 18 December 2012.

06 Nov 2012

Seadrill Offshore Services Links With Malaysia's SDRL

SapuraKencana Petroleum Berhad (SDRL)  & Seadrill Limited  sign MOU to integrate their tender rig businesses. The new and restructured tender rig business will mark a new phase of cooperation between the two companies. In addition SapuraKencana will also be offered the right to be the manager for three further tender rigs which are not part of the transaction. These rigs, West Vencedor, T-15 and T-16, are today either owned or planned to be owned by Seadrill Partners LLC and are therefore not included in the transaction. The operating rigs and the new-builds are all currently contracted under long-term fixed price contracts with companies such as Chevron, Shell, PTTEP, and Petronas Carigali. The total order backlog amounts to USD 1.55 billion as of end of October 2012.

09 Jun 2011

Seadrill Awards Contract to Keppel FELS

Keppel FELS Limited (Keppel FELS) has been awarded a $142 million contract by Seadrill to build a repeat semisubmersible drilling tender (SSDT) based on the KFELS SSDTTM 3600E design. Scheduled for delivery in 2Q2013, this is the eighth drilling tender that Keppel will be building for Seadrill since the launch of the design in 1994. Wong Kok Seng, Managing Director of Keppel FELS said, "Keppel and Seadrill have established a trendsetting partnership, which spans seven KFELS SSDTs and six KFELS B Class jackup rigs. This partnership has provided the launch pad for our industry-acclaimed KFELS SSDT... The seventh drilling tender was completed in March 2011, ahead of schedule and with a perfect safety record. We at Keppel FELS are pleased to fortify our...

01 Oct 2001

Keppel Hitachi Zosen Delivers Semi-tender Rig

Keppel Hitachi Zosen (KHZ) has delivered a Semi-Submersible Self-Erecting Tender Rig (SSETR) to Smedvig Asia Ltd (Smedvig). The SSETR was named West Alliance by Mrs. Patricia Chan, wife of Mr. Chan Heng Wah, Drilling Manager of Esso Production Malaysia Inc, at a naming ceremony held in Keppel Shipyard on September 29, 2001. West Alliance has a one plus one optional year drilling contract with Esso Malaysia, which is scheduled to commence in early November this year. Following the exercise of its option, Smedvig will own 100 per cent of West Alliance, and bring the total capital expenditure of the rig to about $85 million. West Alliance represents the newest generation of SSETRs, incorporating the latest technology and equipment.

05 Nov 2001

Smedvig Buys Keppel’s Interest in Rig

Smedvig Asia has exercised its option to purchase Keppel Hitachi Zosen’s (KHZ) interest in the semi-submersible tender rig, West Alliance, for US$61.5 million on November 2, 2001. In mid August this year, Smedvig Asia had announced its intention to purchase KHZ’s stake in the rig once the vessel commences operations. With the exercise of its option, Smedvig Asia now owns 100 percent of West Alliance. West Alliance, now deployed in East Malaysia under a contract with Esso Malaysia, was successfully built and delivered by Keppel Shipyard, a member of the Keppel Group, in October 2001.

15 Dec 2003

Smedvig Secures New Tender Rig Contract

Smedvig has been awarded a letter of intent by Total Congo for the self-erecting tender rig T-8. The drilling assignment in Congo, West Africa, has a firm duration of 105 days, with options for an additional 300 days. The estimated contract value for the firm period is US$ 5.1 million. In addition, the contract includes a mobilization/demobilization fee of US$ 4 million. Start-up under the new contract is scheduled for the second quarter 2004, following a five year mandatory survey.

02 Apr 2004

Smedvig to Build New Semi-Tender

Smedvig has entered into an agreement with Keppel Shipyard in Singapore for the purpose of building a new semi-submersible self-erecting tender rig (semi-tender). Total capital expenditure for the new semi-tender is estimated at $ 94 million, of which Smedvig's share is approximately $ 29 million. The agreement with Keppel Shipyard is based on the principle that Keppel shall build and own the the semi-submersible hull, and Smedvig shall own the derrick equipment set. Smedvig shall for a period of ten years be responsible for marketing, management and operation of the unit. The agreement includes an option for Smedvig to purchase the semi-submersible hull during the ten-year period at a pre-agreed price.

02 Apr 2004

Keppel, Smedvig Cooperate on New Drilling Tender

Keppel FELS Limited has entered into a cooperation agreement with Smedvig Asia Limited (Smedvig Asia) to build a Semisubmersible Drilling Tender (SSDT) with Keppel Offshore & Marine’s proprietary design. Developed by the Deepwater Technology Group (DTG), the KFELS SSDT3600-GOM-C42 will be the fourth vessel in the series of successful SSDTs that have been gainfully deployed in this region. Valued at $94 million, Keppel FELS and Smedvig Asia will own and operate the ultra deepwater semi tender on a 72/28 basis respectively. The newbuild is due for completion in the third quarter of 2005.

01 Mar 2002

Smedvig Gets Drilling Contract

Unocal Thailand Ltd. has issued a letter of intent to Smedvig Asia Ltd. for the assignment of the self-erecting tender rig T-4. The production drilling assignment has a duration of five years, and the contract value is estimated at approximately $73 million. The contract includes an incentive arrangement that could increase the contract value. The proposed contract includes early termination provisions after three years against payment of an early termination fee. T-4 is currently working under a drilling contract for Unocal Thailand until mid-December 2002. Thereafter the rig is scheduled for a four months extensive upgrading and classification survey, before it starts up under the new contract in April 2003.

22 Apr 2002

Smedvig Announces 1Q Results

Smedvig reported consolidated operating profit of NOK 161 million for the first quarter as compared to NOK 226 million in the previous quarter. The decrease is primarily attributable to lower utilization of the mobile units. Net financial expenses for the first quarter was NOK 9 million as compared to NOK 68 million in the previous quarter. Net income for the first quarter was NOK 129 million as compared to NOK 144 million in the previous quarter. Earnings per share were NOK 1.57 for the first quarter. Cash flow for the quarter amounted to NOK 225 million. Cash flow per share after minority interests was NOK 2.73. Operating profit from the Mobile Units Division amounted to NOK 23 million as compared to NOK 111 million in the previous quarter.

28 Jun 2000

Keppel Shipyard To Build Semi-Tender For Smedvig

Keppel Shipyard entered into a co-operation agreement with Smedvig Asia recently to build a Semi-Submersible Self-Erecting Tender Rig (SSETR), a contract with a total estimated worth of $82.5 million, $59.5 million of which is Keppel’s share. For its part, Keppel Shipyard will build and own the semi-submersible hull, while Smedvig owns the derrick equipment set. 10-year period. It can also purchase the semi-submersible hull within this time frame. increased deckload and mooring for deeper water. capitalize on the present lower cost of construction, said Nelson Yeo, Executive Director of Keppel Hitachi Zosen.

09 Oct 2000

Keppel Wins $17M Contract

Keppel Shipyard, a member of the Keppel Hitachi Zosen Group, won a $17 million contract from Blue Ice Shipping Corporation to convert a container vessel into a livestock carrier. Maysora -- a 643 x 93 x 52.8 ft. (196 x 28.4 x 16.1 m), 24,515 dwt container vessel will be converted into a fully outfitted livestock vessel with a minimum carrying capacity of 70,560 sheep and 5,640 cattle. Mr Charles Foo, Managing Director of Keppel Hitachi Zosen said, "We were awarded this job based on our competitive pricing and wealth of experience in conversion projects, specifically livestock carrier conversions. During the conversion, Keppel Shipyard will increase Maysora's carrying capacity by maximizing all available space in the vessel.

27 Nov 2000

Keppel Hitachi Zosen Tapped To Build Harbor Tugs

Keppel Hitachi Zosen, through Keppel Singmarine Dockyard, will build two harbor tugs for S$17 million for the Abu Dhabi Sea Port Authority, Port Zayed in the United Arab Emirates. Both tugs are expected to be delivered in the fourth quarter of 2001. The steel-hulled, twin-screwed, diesel motor-driven harbor tugs will be built to a length overall of 33 meters, a breadth of 10 meters, a depth of 5 meters, and a draft of 4 meters. The tugs will have a bollard pull of 50 tons, and a maximum speed of 13.8 knots. Lum Chee Kong, General Manager of Keppel Singmarine Dockyard said, "Keppel Singmarine's strength lies in the construction of a wide range of tugs and smaller specialized vessels.

01 Aug 2005

Smedvig Secures Contract for T-9 in Malaysia

The tender rig T-9, in which Smedvig owns 49 percent, has been awarded a contract extension by ExxonMobil in Malaysia. The production drilling assignment has a duration of three years. Commencement of operations is scheduled in mid-January 2006, in direct continuation of the existing contract. The estimated contract value is approximately $66 million. ExxonMobil has the right to terminate the contract after one year.

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