Topaz Energy and Marine, an offshore support vessel company with primary operations in the Middle East and Caspian, announced a new contract win for its fast growing West Africa operation. Under the terms of the $11 million agreement, Topaz will supply a global oil major with a platform supply vessel, the Topaz Faye, for 18 months to support its offshore production operations. This contract comes on the back of several recent contract wins in West Africa and further strengthens Topaz’s $1.2 billion contract backlog. The deployment of Topaz Faye in West Africa brings the total number of vessels under operation by Topaz in the region to 10, representing approximately 10% of Topaz’s total fleet. As part of its global expansion strategy, the company is building up its capabilities in West Africa as the region represents a long-term growth opportunity for Topaz with above market growth in industry activity and OSV demand. Topaz Faye, a medium size DP2 PSV, was recently delivered together with four sister vessels and brings the total number of vessels in Topaz’s fleet to 95, excluding two under construction, with an average age of seven years against an industry average of around 15 years.
Ship service providers WSS open their own premises in the port after 15 years of operation through sub-agents & service providers. Simon Hutt, Area Director for North and West Africa paid tribute to the hard work of the area operational team in West Africa who have been managing the business development activities and securing the future of the new office, saying: “WSS has operated in West Africa for the last fifteen years through various sub-agents and service
Aegean Marine Petroleum Network Inc. an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea, today announced that it plans to launch a new service center located on the Gulf of Guinea in West Africa during the fourth quarter of 2007, expanding the Company's global network of marine fuel service centers. The company also announced it has entered into an agreement to purchase a 1985-built 83
Ocean Rig UDW Inc. (NASDAQ:ORIG) received a Letter of Award for its ultra deepwater drillship “Ocean Rig Olympia”, from a major oil company. The Letter of Award is for a three- year contract for drilling offshore West Africa, with an estimated backlog of approximately $652 million. The Letter of Award is subject to completion of definitive documentation and receipt of regulatory approvals. The contract is expected to commence in direct continuation of the Ocean Rig
Topaz Energy and Marine, a leading offshore support vessel company with primary operations in the Middle East and Caspian, today announced a new contract win for its fast growing West Africa operation. Under the terms of the US$ 11 million agreement, Topaz will supply a global oil major with a platform supply vessel, the Topaz Faye, for 18 months to support its offshore production operations. This contract comes on the back of several recent contract wins in West Africa and further
As part of its continued supply network growth in West Africa, Hutton’s Group has opened a new facility in Equatorial Guinea to boost its supply chain in the region. Operating as part of Hutton’s Remote Site Services, the new base in Luba Freeport will enhance the successful supply solutions already being delivered by Hutton’s West Africa depots in Ghana and Ivory Coast. As the only ship supplier based within Luba Freeport
Global Industries, Ltd. announces the appointment of Craig Milburn as operations manager for Global Divers, based in New Iberia, LA. As Operations Manager, Milburn is responsible for diving operations, personnel, equipment, and the diving facilities at the New Iberia facility. Milburn joined Global in 1982 and has held numerous positions as a diver, Supervisor, Superintendent, and project manager domestically and in Asia Pacific
Expanding its presence in the growing offshore West African market, Seabulk Offshore -- a subsidiary of Seabulk International, Inc. (Nasdaq: SBLK) -- announced that it has ordered two additional vessels for delivery in late 2004 and mid-2005, respectively. Built at a combined cost of approximately $23.4 million, the new vessels will work under long-term contracts for a major international oil company in offshore Angola.
Drewry Maritime Research’s latest Tanker Forecaster report indicates that Suezmax owners got some respite in the first quarter of the year, but things are looking bleak in the longer term. Spot rates firmed on the back of buoyant demand in the Caribs, Arabian Gulf and West Africa, but rising bunker prices would have absorbed much of the increase. US demand for West African crude was the one to watch as it staged a recovery in March and underpinned Suezmax rates on the benchmark TD5 (West
DryShips Inc., an international provider of marine transportation services for drybulk and petroleum cargos, and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, has announced that Ocean Rig as signed definitive documentation with Total E&P Angola, following the previously announced Letter of Award, for its ultra deepwater drillship "Ocean Rig Skyros."
Polarcus Limited sign a new contract with an unnamed client in terms of a marine 3D seismic project where Polarcus' Right Band technique used for broadband data acquisition. It is stated in a stock exchange release. The project
Worldwide shipping firm the CMA CGM Group announced plans to upgrade its services joining Europe to Africa, altering its EURAF 1, EURAF 2 and EURAF 4 services with the goal of providing a more complete service offering to Africa, North Europe and the Mediterranean.
Low bunker prices buoy owners' spot charter earnings. Freight rates for very large crude carriers (VLCCs), which have fallen to their lowest level in 10 months, are set to slide further next week as the volume of available tonnage outpaces cargo demand.
Shipbroker Charles R. Weber is quite optimistic on the future prospects of the VLCC market for 2016 onwards. The demand is expected to remain elevated with spot voyages generating around 940 bln ton-miles per quarter, on average, during 2016 – around 1
Offshore service provider Ezra Holdings has announced that subsea division, EMAS AMC, has won global contracts values at over $115m including options, reports Business Times. These contracts include one for rigid pipe lay for the Aviat field development in the UK North Sea;
Polarcus Limited has signed a Letter of Intent (LOI) with TGS-NOPEC Geophysical Company for the sale of its multi-client projects in Northwest Europe and West Africa in return for a cash consideration of US$27.5 million and future revenue share on library late sales.
Polarcus Limited announced it has signed a Letter of Intent (LOI) with TGS-NOPEC Geophysical Company ASA (TGS) for the sale of its multi-client projects in Northwest Europe and West Africa (MC Projects) in return for a cash consideration of $27
After signing an order for the construction of five new ships two weeks ago, the Italian shipowner Grimaldi Group has signed another contract for the construction of three new PCTC-type ships (Pure Car and Truck Carriers) at the Chinese Jinling shipyard
Harkand's key shareholder Oaktree Capital Management has reaffirmed a strong commitment with an additional $25 million of funding which will allow the company to expand its footprint in new and existing regions. As well as maintaining its operations in current market conditions
The CMA CGM Group announced changes to its African service, upgrading its EURAF 4 service to directly connect West Africa to the West Mediterranean markets each week starting July 18, the group announced. Up until now, the EURAF 4 service has been calling the following ports: Tangiers, Lome
Standalone West Africa Express service (WAX) offers improved transit times, connection to Hapag-Lloyds global service network. Effective August 10, Hapag-Lloyd will offer its customers an improved service between West Africa and Northern Europe, the company announced today
Ghana is considering establishing modalities to compel shipping companies to introduce a training regime which ensures that their local staff gain professional qualifications in shipping. “Maintenance of professional standards in the maritime industry has been one of the
Offshore installation services provider Sea Trucks Group announced it has been awarded a charter contract for its accommodation construction vessel Jascon 31 to operate in the Gulf of Mexico, marking the groups return to the region.
Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries, according to international learning technologies company Atlas Knowledge.
West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed. Slower buying by Indian independent refiners such as Reliance was the primary factor behind the overall decline of 13