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Torch Offshore

Torch Offshore Announces Shipyard Conversion Contract

Torch Offshore, Inc. announced that its subsidiary, Torch Express L.L.C., has entered into a contract with Davie Maritime Inc. of Quebec, Canada for the conversion of the Midnight Express at a cost of approximately $37.0 million. The total cost of the entire conversion project, including anticipated financial costs, will be between $80.0 million and $90.0 million. The 520-foot LASH (heavy transport) vessel will be converted into a DP-2 offshore construction vessel with the capability to work in varying water depths throughout the world. The Midnight Express has been at the Davie Maritime shipyard since April 2002 where the functional design was being performed. Some of the conversion work will begin immediately; however, the complete contract will not become effective until various conditions are satisfied, including arrangements for the required debt financing for the project. Torch Offshore, Inc. Chairman and CEO, Lyle G. Stockstill, commented, "We have worked very closely with the management of Davie Maritime and their technical staff for several months and we are pleased with their professionalism and the way in which they have tackled the project. We are confident that the personnel of Davie Maritime will do a good job with the conversion of the Midnight Express. The current schedule should put the Midnight Express in the water and ready for work in the fourth quarter of 2003


Feature: Staying the Course

Torch Offshore LLC is a Gretna, La-based integrated offshore contractor whose niche market is the installation of small diameter flow lines and related infrastructure on the Continental Shelf in the Gulf of Mexico (GOM). In 2002, the company had revenues of $68 million, laying 227 miles of pipe. Torch Offshore operates a fleet of nine vessels that lay the pipe and/or support this activity. The company is in the process of converting two large vessels that will give the company the ability


Market Report: When Will the Turn Around Come?

By Larry Pearson It seems to be a soap opera without an end. "It is crazy…makes no sense at all," is a common observation. If you are in the oil and gas business, the number one question is, "When is the drilling going to pickup?" It is a question without an answer…at least through the first quarter of 2004. "Normally when prices are low and oil rises about $25 a barrel and gas goes above $2.50 per million cubic foot, everybody goes back to work," noted Roy Breaux, Jr


Wojtaszczyk Joins Bisso Marine

Photo courtesy Bisso Marine

Bisso Marine announced the addition of Andy Wojtaszczyk. Wojtaszczyk joins the company as Subsea Services project manager, managing saturation diving and ROV operations. Prior to joining Bisso Marine, Wojtaszczyk served as ROV superintendent in Equatorial Guinea for Bienvenue Consulting Services/Hess Corporation and ROV project manager for Offshore Innovative Solutions, Inc. Before that, he was SAT superintendent aboard the DPII DSV Midnight Hunter for Torch Offshore, Inc.


Fendercare's Rowlands Cares for Olympic Torch

IMG_3546a web.jpg

On Wednesday July 4, Paul Rowlands, Marketing Executive for Fendercare Marine was given the honor of being an official Olympic Torchbearer and carrying the flame through Fakenham, Norfolk. Paul was nominated to carry the torch in recognition of his fundraising efforts, following the death of his daughter, Alice at just 15 days old in 2007.   Alice was born six weeks early and with a rare liver condition, neonatal hemochromatosis


Today in U.S. Naval History: November 8

USS Bagley (DE-1069). Credit: PH1 S. Smith.

Today in U.S. Naval History - November 8 1861 – Capt. Charles Wilkes seizes two Confederate diplomats from the British steamer Trent, causing an international controversy with Great Britain (known as the Trent Affair). 1942 - Operation Torch (Allied landings in French Northwest Africa). American forces land at Casablanca. French naval forces attack U.S. Navy ships and 13 French ships are sunk without a loss to the U.S.


U.S. Offshore Rig Count Increases

The U.S. Gulf of Mexico offshore rig count increased for the third consecutive week, according to Offshore Data Services' weekly mobile offshore rig count. Today, the U.S. Gulf rig count stands at 151, a one-rig increase since last week. Total fleet size is unchanged at 191 rigs. Fleet utilization this week is 79.1 percent. The European offshore rig count is unchanged from last week. Of the 107 mobile offshore drilling rigs deployed in the area


Gulf Of Mexico Rig Count Increases

The U.S. Gulf of Mexico offshore rig count continues to rebound, according to Offshore Data Services' weekly mobile offshore rig count. This week, 149 of the 191 mobile offshore drilling rigs in the U.S. Gulf are under contract, a four-rig increase over last week's week count and a seven-rig increase on a month-to-month basis. U.S. Gulf rig fleet utilization this week is 78.0 percent. The European offshore rig count continues to decline


Explosion at Russian Shipyard Kills One

An explosion on a decommissioned nuclear submarine being cut up for scrap metal at a northern Russian shipyard killed at least one person and seriously injured another, an emergency official said Monday. According to the Associated Press, the blast at the Zvyozdochka plant on the White Sea took place at 8:32 a.m. aboard a submarine that had already been stripped of its nuclear fuel and reactors, said Igor Grigoriyev, a spokesman for the Emergency Situations Ministry in the Arkhangelsk


Skipper Fined for Flare Misuse

The skipper of a former fishing vessel has been ordered to pay £3,825 in fines and costs after pleading guilty to firing rocket distress flares when not in need of immediate help. A red distress rocket flare was fired just before the boat torch light procession at this year's Salcombe Harbor Festival - popular with participants and spectators - landing on heathland, whilst still burning. Harbor Master Ian Gibson identified and spoke to the culprit Matthew Yeoman


POSH raises $311m in Singapore IPO

Image: POSH file photo

POSH prices IPO at S$1.15 per share, near bottom of indicative range. POSH focuses on service to production, maintenance and is keen on growing offshore accommodation business. PACC Offshore Services Holdings (POSH) could raise at least S$388


Offshore Service Vessels Design Innovation

PSV World Sapphire from Damen (Photo courtesy Damen)

It could be argued that no other sector of the maritime market has experienced a design innovation revolution quite like the Offshore Service Vessel (OSV) market. Driven by demands to supply people, gear and goods to offshore installations that are increasingly further from shore in deeper waters


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Havyard to Build Hybrid Battery Arctic PSV

Arctic PSV rendering courtesy of Havyard

Norway's Havyard says it has signed a contract for the construction of a Havyard 833 WE ICE platform supply vessel with Fafnir Offshore HF. The vessel is to be designed by Havyard Design and Solutions in Fosnavaag & will be constructed at Havyard Ship Technology`s yard in Leirvik in Sogn


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Rolls-Royce to supply machinery for 4 tugs for ALP Maritime Services

Rolls-Royce has been awarded a £19m contract to deliver deck machinery for four ocean going tugs, designed by Ulstein Design & Solutions, for Dutch company ALP Maritime Services. The vessels will be constructed in Japan by Niigata Shipbuilding & Repair.


Transocean 2013 Success Story: Dividend Up 34%

Frontispiece courtesy of Transocean

In a letter to shareholders chairman, Ian C. Strachan and Steven L. Newman, president and CEO, set out a summary of offshore drilling specialist Transocean's 2013 operations, excerpted as follows: • Revenue and Backlog Full year 2013 net income attributable to controlling interest was $1


DNV GL Oil & Gas to Expand in Norway

Marianne Hauso

Relocates Norwegian oil and gas HQ to Stavanger, led by Marianne Hauso; to increase staff in Western Norway by 10% in 2014 DNV GL is relocating its oil and gas head office in Norway from Høvik to Stavanger in order to be even closer to its customers, the company said


BOEM Proposes GoM Oil and Gas Lease Sale

Photo courtesy BOEM

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau today announced that the bureau will offer more than 21 million acres offshore Texas for


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Topaz secures another West Africa contract

Topaz-faye DP2 platform

Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced a new contract win for its fast growing West Africa operation. Under the terms of the US$ 11 million agreement


Maritime Reporter @ 75: The Daily Cartoon

© New Wave Media

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry, with a circulation of more than 35,000 worldwide, including ship and boat owners


Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues. ThomsonReuters I/B/E/S had forecast earnings of 70 cents a share or 82 cents a share excluding special items.


BOEM gives more time to submit plans OCS

The Bureau of Ocean Energy Management (BOEM) announced today the publication of its Final Rule to extend time requirements for submitting a Site Assessment Plan (SAP) or a General Activities Plan (GAP) for renewable energy development on the Outer Continental Shelf (OCS).


POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier, two sources with knowledge of the matter said.


 
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