Topaz Wins New Charters, Acquires Two AHTS

press release
Monday, August 13, 2012

Topaz signs over $65 million of new charters and announces the acquisition of two AHTS.


Renaissance subsidiary, Topaz Energy and Marine (“Topaz”), a UAE-based oil field services company, has been awarded two new long term charters, totalling over $65 million, in the GCC and the Caspian Sea, two of the company’s major operating areas. It also confirms the acquisition of Topaz Rayyan and Caspian Reliance, two Anchor Handling Tug Supply Vessel (AHTS).

 

Topaz Rayyan, will be deployed in Qatar on a seven-year, $50 million charter, for an international oil company (“IOC”). The vessel was built in 2006 and was previously owned by Sanko Steamship Co Ltd in Japan. The second AHTS, Caspian Reliance, is to be deployed in the Caspian Sea with a firm contract value of $13.9 million. It is a new, untraded vessel formerly owned by Boluda Ltd. The vessels are 100-T DP-2 Anchor Handling Tug Supply Vessels (AHTS) and both will undergo a $2 million upgrade to meet client specific requirements. Advanced DP-2 is a standard required increasingly by IOCs, which allows vessels to remain accurately in position for long durations

 

Topaz has been operating under long-term contracts in Qatar for the past five years. The Topaz Rayyan will be joining their 35 existing vessels in supporting their operations in the Middle East. Earlier in the year, Topaz Marine Saudi Arabia, a joint-venture with Saudi-based GENTAS, was awarded a three-year, $88 million charter for the six AHTS vessels by Saudi Aramco.

 

Within the Caspian Sea, Topaz has been present in Azerbaijan since the acquisition of BUE Marine in 2005 and currently operates 25 vessels supporting Oil Majors in Country. Furthermore, Topaz is also completing the delivery of two AHTS vessels, Topaz Dignity on behalf of BP Azerbaijan and the Topaz Triumph on behalf of West African clients., both are due to be deployed on long-term contracts.

 

In line with our strategy of operating only young and technologically advanced vessels Topaz have also recently divested the 29 year old AHTS Team Rashidya and 30 year old Team Liwa .
 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

SFL Adjusts Charter Agreement with Frontline

Ship Finance International Limited (SFL) announced that it has entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd.

New Ship Continues Atlantic Offshore's Fleet Modernization

Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million.

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering

Offshore

Study Targets Improved Subsea Mattress Salvage

Subsea mattress research announced at decommissioning event   Independent multi-discipline subsea engineering and training firm Jee Ltd. has completed a contract with Decom North Sea (DNS),

Lerwick Port Promoting Shetland Fishing Industry

The importance of investment in the Shetland fishing industry has been highlighted today by Lerwick Port Authority Chief Executive, Sandra Laurenson. The industry – white fish,

Five Years on from Macondo

An interview with NOIA’s Randall Luthi provides unique perspective on where the offshore energy business has been, where it is now, and where it could be headed next.

Workboats

Design & Operation: Wind Farm Support Vessels

Offshore wind farm development has been led globally by the UK, followed by Germany. Both countries have governments with long term commitments to renewable energy.

Bids Placed for Novy Port Icebreaker Contract

Seven companies submit bids for contract for Yamal Novy Port terminal icebreaker   The tendering process for the Yamal Novy Port terminal icebreaker design and build contract has kicked off,

Dredge Yard, Neptune Shipyards Introduce New Dredger

Dredge Yard announced it has partnered with Netherlands-based Neptune Shipyards to develop the new cutter suction dredger, EURO DREDGER 450. Iulia Berchiu, Dredge Yard’s Marketing Manager,

Finance

Neptune Orient Lines Sells Logistics Business

Neptune Orient Lines sells APL Logistics to Kintetsu World Express   Neptune Orient Lines Limited (NOL) announced that it has completed the sale of its logistics business,

SFL Adjusts Charter Agreement with Frontline

Ship Finance International Limited (SFL) announced that it has entered into a heads of agreement to amend the long-term chartering agreements with Frontline Ltd.

New Ship Continues Atlantic Offshore's Fleet Modernization

Atlantic Offshore Rescue will unveil the third new vessel in the past 12 months as part of its fleet modernization program, representing an investment totaling $458 million.

Energy

Study Targets Improved Subsea Mattress Salvage

Subsea mattress research announced at decommissioning event   Independent multi-discipline subsea engineering and training firm Jee Ltd. has completed a contract with Decom North Sea (DNS),

Frontline Beats Q1 Forecasts, Inks Ship Finance Deal

Crude oil tanker firm Frontline posted first-quarter operating profit above expectations on Friday and said it had renegotiated its relationship with chartering

U.S.: China Placed Artillery on Reclaimed Island

The United States said on Friday that China had placed mobile artillery weapons systems on a reclaimed island in the disputed South China Sea, a development that Republican Sen.

 
 
Maritime Contracts Maritime Security Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1729 sec (6 req/sec)