Development Canada News

As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3.8 bcfd of gas) of FPS throughput capacity sanctioned year to date (YTD). This represents a 7% increase on 2021, with Westwood anticipating an additional 180 kboepd of FPS throughput capacity to be sanctioned before the end of the year.

Export Development Canada (EDC) has announced the closing of a CAD$6.5 million (US$4.9 million) contract financing credit facility for Corvus Energy Inc., a Richmond, BC-based  designer, developer and manufactureer of energy storage systems (ESS) and lithium-ion battery solutions for hybrid and electric marine applications. The financing will allow Corvus to fulfill various export contracts, primarily for hybrid ferries in Europe, EDC said. “The electrification of the maritime industry in Europe is accelerating and the award-winning Orca ESS from Corvus Energy is facilitating that transition,” said Andrew Morden, President and CEO of Corvus Energy.

SeeByte, creator of smart software for unmanned maritime systems, said it will demonstrate software solutions for unmanned systems as part of the Royal Navy’s Unmanned Warrior exercise. The exercise will feature more than 50 vehicles, sensors and systems and aims to demonstrate never-seen-before capabilities in the field of autonomy and unmanned systems. SeeByte’s software forms the core components of the Hell Bay 4 and MCM Challenge elements of Unmanned Warrior. The aim of these exercises is to develop and push the capabilities of autonomous systems…

Developing the capability to discriminate between ships and icebergs in northern latitudes is a common interest shared by Canada’s Department of National Defense (DND) and the oil and gas industry. For DND, the focus is on ship detection for maritime security, whereas oil and gas companies are interested in detecting icebergs to ensure primarily the safety and also the productivity of offshore exploration and production operations. The Polar Epsilon and Polar Epsilon-2 applied…

Canadian non-resource exports should post healthy gains this year, the country's trade financing agency said on Monday, a development the central bank is counting on to help revive an economy hobbled by weak global energy prices. Export Development Canada predicted the consumer goods, automotive and aerospace sectors would post double-digit growth in 2016 on the back of a robust U.S. economy. Industrial machinery exports should advance by 7 percent, it said. Overall exports are seen rising a modest 2 percent this year, held back by a 14-percent drop in the value of energy shipments. Canada is a major energy exporter and has been hit hard by slumping crude oil prices.

The Seafarers’ International Union of Canada (SIU) has launched a lawsuit challenging repeated decisions by the Canadian Border Services Agency (CBSA) to grant temporary work permits to foreign maritime workers crewing foreign ships operating in Canadian waters. Canadian law requires that ships carrying passengers or goods between Canadian ports (“cabotage”) may only use foreign workers if no qualified Canadian workers are available. “The Government of Canada has allowed foreign workers to take 2100 jobs from qualified Canadian maritime workers,” said SIU President Jim Given. “The Federal Government continues to misuse their authority to grant temporary work permits to foreign workers, while passing over Canadian sailors who are ready to work”.

Canada's offshore Arctic drilling rules could "stifle" development since they do not provide incentives for companies to proceed with production after discovering oil, the government was told in a newly-released internal briefing note. The advice was prepared for the government's point man on the issue, Aboriginal Affairs and Northern Development Minister Bernard Valcourt, before Imperial Oil Ltd lobbied him privately in June, seeking concessions on existing legislation. The right-leaning Conservative government said in July it would review the legislation, known as the Canada Petroleum Resources Act. To drill in the Canadian Arctic, companies need an exploratory licence, awarded with a fixed term.

The Franklin Expedition ship discovered in early September by the 2014 Victoria Strait Expedition is Her Majesty’s Ship (HMS) Erebus. Sir John Franklin, who was in command of the Franklin Expedition, sailed on HMS Erebus, Canadian Prime Minister Stephen Harper announced Wednesday. On May 19, 1845, HMS Erebus and HMS Terror of the Royal Navy departed Greenhithe, England, on a much-heralded Arctic expedition in search of a Northwest Passage. Under the command of Sir John Franklin…

The Canadian Government informs that  David Wells, Senator for Newfoundland and Labrador witnessed the departure of the 'CCGS Terry Fox' from St. John’s, Newfoundland and Labrador, as it headed out on a six-week scientific survey to collect data needed for Canada’s Arctic continental shelf submission. It will be joined by the 'CCGS Louis S. St-Laurent', which departs from the same location tomorrow. A second survey, to collect additional data, will be conducted in 2015. “As demonstrated by these planned surveys, our government is committing the resources necessary to ensure that Canada secures international recognition of the full extent of its continental shelf, including the North Pole,” said Foreign Affairs Minister John Baird. The CCGS Terry Fox will break ice so that the CCGS Louis S.

The Govermnent of Canada announces that with an unprecedented number of organizations from the public, private and non-profit sectors it will partner together, using state-of-the-art technology, to locate the historic ships of the ill-fated 1845 Franklin Expedition. The 2014 Franklin Expedition will also have the added benefit of furthering our knowledge in a number of priority areas, including through the collection of important scientific information about Canada's most remote region. Government partners for the 2014 Victoria Strait expedition include Parks Canada, Fisheries and Oceans Canada, the Canadian Coast Guard, the Royal Canadian Navy…

The 27th International “What if?” Workshop has brought data farming experts together at the National Defence University in Helsinki, Finland. Data farming is a way to conduct operational analysis through modeling and simulation, high performance computing to build scenarios, and then explore new options for decision makers. The methodology permits planners and decision makers to ask the “what if?” questions to determine the probabilities of various outcomes. The workshop is being attended by representatives from Germany, Sweden, Canada, Turkey, the U.S. and Finland.

For some time now, military agencies and specialist organizations around the globe have driven the evolution of high speed watercraft. As a trickle-down effect fast response craft now serve roles once typically serviced by displacement designs including pilot boats, dive boats, crew boats and offshore support. During high speed operations the repeated shocks (RS) and whole body vibrations (WBV) of this harsh environment are transmitted to the passengers, operators and crew aboard, creating avenues of owner liability if not addressed.

Davie Yards (TSX:DAV) received confirmation that its client Ocean Hotels has finalized a $100m loan agreement with Export Development Canada (EDC) for the financing of two Multipurpose Accommodation Vessels contracted at Davie. “Now that our client has secured its financing with EDC, we will be able to restart construction of the Ocean Hotels vessels, which has been suspended for a long period” said Steinar Kulen, President and Chief Executive Officer at Davie, and he continued; “Those newbuilding projects are important to maintain a good level of activity at the yard, and this is good news for our employees and their families. I am glad that they will have a much better Christmas than last year when we were forced to lay off people temporary”.

Davie Yards Inc. (TSX:DAV) announced that it has reached agreements with its clients for new price increases of $35m on its existing contracts. In addition Davie's largest client, Cecon ASA has informed that it has received a $200m loan offer replacing the lost loan facility with the Norwegian bank DnB Nor. While Cecon completes the loan documentation, Davie has negotiated a $20m prefunding facility which will enable it to gradually resume its operations. Davie Yards has agreed to amendments to the shipbuilding contracts for Cecon's three vessels and Ocean Hotels' two vessels under construction. Under the terms of the amendments, the clients have accepted price increases totaling $35m in addition to the $60m that were agreed upon in September last year.

The Star has reported that Canadian Shipbuilding & Engineering Ltd. (CSE) will seek government money, cut labour costs and restructure before resorting to a sales process if necessary, the monitor overseeing its bankruptcy protection said in court documents. CSE was formed 20 years ago by the merger of the shipbuilding and repair divisions of two of Canada's biggest private shipping companies, Canada Steamship Lines and what is now called Upper Lakes Group Inc. The CSL Group — owned by former Prime Minister Paul Martin until 2003 — sold its remaining interest in Canadian Shipbuilding & Engineering in November. Upper Lakes Group Inc. now owns more than two-thirds of CSE, which had 420 employees when all its operations were running.

East Isle Shipyard, Prince Edward Island's largest shipbuilder, has secured a $21 million contract to construct two new tug boats for customers in the Dominican Republic as well as a third tug for Atlantic Towing, Limited. The new contract means employment for 120 shipyard workers. The shipyard had been idle since September of 2002 when a fourth tug for the Panama Canal Authority was completed. "This contract for three tugs demonstrates confidence in the skill of our Island shipyard workers. The Government of Canada’s contribution reflects its commitment to supporting a skilled and innovative workforce and helping to stimulate investment in the shipbuilding industry…

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 to compete in the deepwater segment pf the market. "The company's strategy for the future is highly focused on the deepwater arenas of the world," said Lyle G. Stockstill, chairman of the board and chief executive officer of Torch Offshore.