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Offshore Group News

17 Mar 2024

Launch Ceremony Held for A-O-S' New Jones Act CTV Gripper

(Photo: American Offshore Services)

An official launch ceremony was held to celebrate the commissioning of a new Jones Act compliant crew transfer vessel (CTV) built for American Offshore Services (A-O-S)—the company's first.Constructed by Blount Boats in Warren, R.I., the 100-foot-long aluminum catamaran is owned and operated by A-O-S, a joint venture formed in 2020 by leading European CTV operator Northern Offshore Services (N-O-S) and U.S.-based investment firm OIC.The vessel will support Ørsted and Eversource’s portfolio of offshore wind farms in the Northeast…

21 Feb 2024

NYK Places Order for its First Japan-built Offshore Wind CTV

Rendering for NYK's first Japan-built offshroe wind CTV (Credit: NYK)

NYK Line has ordered a crew transfer vessel (CTV) for offshore wind industry from Kosaba Shipbuilding Corporation, the first such order the company placed to a local Japanese shipyard.Following delivery in late 2025 or 2026, the vessel will be used to transport technicians to construct and maintain offshore wind power generation facilities offshore Japan.The vessels will be 28 meters long, and capable of accommodating 12 passengers.By expanding its fleet of CTVs, NYK aims to play an active role in promoting sustainable energy.

19 Feb 2024

N-O-S Consolidates Ops in UK

(Credit: N-O-S)

Northern Offshore Services (N-O-S), part of Northern Offshore Group (N-O-G), has integrated Mareel within the company as N-O-S Ltd, simultaneously adding its 16 crew transfer vessels (CTV) to the fleet.The move marks an important step toward optimizing synergies within the organization and pave the way for a unified market approach.The initiative is set to reinforce N-O-S’ business, providing a cohesive platform for delivering unparalleled services to their clients by capitalizing on N-O-S experience in the fast-growing renewable energy segment.“At N-O-G…

17 Mar 2022

NYK's First Crew Transfer Vessel Starts Northern Offshore Charter

Credit: NYK

Japan's NYK said Thursday its new crew transfer vessel (CTV) Energizer had started its charter with Northern Offshore Services AS (NOS), a subsidiary of the Sweden-based Northern Offshore Group AB (NOG).The CTV, which will be used to service offshore wind farms, is owned by NYK and is being chartered to NOS through a long-term bareboat charter contract. It will transfer crews to offshore wind power stations, mainly in Europe, under the operation of NOS. NOG operates about 60 CTVs in the offshore wind power market in Europe…

16 Nov 2021

American Offshore Services Orders Four Jones Act CTVs

(Image: A-O-S)

American Offshore Services (A-O-S) announced Tuesday it has ordered four hybrid-ready crew transfer vessels (CTV) from Blount Boats to service the United States' emerging offshore wind industry.In the years ahead, it's expected that potentially dozens of CTVs will be built as part of a new fleet of Jones Act compliant vessels required to support the construction and long-term service of a pipeline of new offshore wind farms slated to sprout up along the U.S. East Coast. The Biden…

07 May 2021

Northern Offshore Services Takes NYK's CTV on Ten-year Charter

Photo courtesy of NOG

Northern Offshore Services has taken NYK's crew transfer vessel Energizer on a ten-year charter. The vessel will be used to transfer crews to offshore wind farms, mainly in Europe.Japan's NYK, which shared the charter news on Thursday, also said it has additionally agreed to dispatch its engineers to NOS to participate in operations and ship management in Europe, a leading region in the offshore wind industry, in preparation for the development of the CTV business in Japan."Northern Offshore Services is part of Northern Offshore Group (NOG).

04 Jan 2021

Sherrard Enhances Squire Patton Boggs Commodities and Shipping Capabilities

Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice.

Squire Patton Boggs continued the expansion of its commodities and shipping capabilities with the addition of partner Kate Sherrard into its Financial Services Practice. She joins the firm from Clifford Chance where she was Head of the Asia Pacific Maritime and Offshore Group and is accompanied by senior associate Bernice Chia.“When we launched our commodities and shipping group last year we set our sights on creating one of the premier practices in the market,” said Steve Mahon, global managing partner – clients and strategy.

09 Jul 2020

Northern Offshore Services Adds Two More Vessels to Its Fleet

Image Credit: Northern Offshore Services

Crew transfer vessel specialist Northern Offshore Services (N-O-S) has expanded its fleet with two vessels SURE Diamond and SURE Dynamic from Sure Wind Marine Limited. The company's offshore support vessel fleet now stands at 41 vessels. The two vessels are being renamed to M/V Master and M/V Mariner and will be part of the M-Class series, now four vessels in the series.They will continue their current operations on offshore wind farms in Germany, Northern Offshore Services said Thursday.The M-Class series are 27 M high-speed offshore support vessels…

01 Apr 2020

Siem Offshore Gets Breathing Room

Norway-based offshore vessel owner Siem Offshore has received some breathing room after reaching an agreement with its banks.The company last week warned that the extreme fluctuations in the financial markets over the past weeks „have resulted in a further deterioration in the company's liquidity situation“ and that Siem Offshore was in discussions with its banks to seek to alleviate the situation.In a statement on Wednesday morning, Siem Offshore said that it had "with effect from 31 March 2020 entered into an agreement with the group's secured lenders to provide time to secure a long-term financing solution for the Siem Offshore group."The terms of the agreement include deferral and suspension of principal and interest and waiver of financial covenants until May 15…

04 Apr 2019

Teekay Secures Loan for Shuttle Tanker Newbuilds

International midstream services provider, Teekay Offshore Partners announced that it has secured a new $414 million long-term debt facility that will be used to finance four LNG-fueled Suezmax DP2 shuttle tanker newbuildings.Upon delivery in 2019 and 2020, two of the vessels will commence operations under the Partnership’s Master Agreement with Equinor, while the remaining two vessels will join the Partnership’s contract of affreightment (CoA) shuttle tanker portfolio in the North Sea, said a release from the marine energy transportation company.The new facility is funded and guaranteed by both Canadian and Norwegian export credit agencies…

02 Nov 2018

Teekay Offshore Settles Dispute with Petrobras

Bermuda-based marine services company Teekay Offshore Partners announced that certain of its subsidiaries have entered into a settlement agreement with Petrobras with respect to various disputes relating to the previously-terminated charter contracts of the HiLoad DP unit and Arendal Spirit unit for maintenance and safety (UMS). As part of the settlement agreement, Petrobras - on behalf od its subsidiaries Petróleo Brasileiro and Petroleo Netherlands - has agreed to pay a total amount of $96 million to Teekay Offshore, which includes $55 million that is payable unconditionally within 30 days.The remaining $41 million is to be paid in two separate instalments of $22 million and $19 million by the end of 2020 and 2021…

23 Jul 2018

Teekay Offshore Taps Steinsland as CFO

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P., announced today that Jan Rune Steinsland has been appointed the new Chief Financial Officer (CFO) of Teekay Offshore Group Ltd., a management services company that provides services to the Partnership’s subsidiaries (together with the Partnership, the Teekay Offshore Group) effective September 3, 2018. The Partnership’s interim CFO, Tim Cowan, will step down effective September 3, 2018, but will remain with the Partnership for a period of time to ensure a smooth transition.Steinsland brings approximately 30 years of energy and offshore industry experience, including most recently serving as CFO of drilling contractor Songa Offshore SE…

06 Jul 2018

Subsea Robotics for Renewables

The Gwynt Y Mor wind farm. Photo from Rovco.

As the global fleet of offshore renewables fleet increases, ways to reduce the cost and increase the efficiency and safety of operations and maintenance work, using robotics and autonomous systems, will also grow. Elaine Maslin reports.Robotics and autonomous systems are moving into many areas of modern day life. It’s becoming harder to avoid them, from our phones to automotive systems and now offshore energy renewable projects.Both are seen as tools to do otherwise dull, dirty or dangerous work…

10 May 2018

Petrojarl I FPSO Begins Working its 10th Field

(Photo: Teekay)

Teekay’s three-decades-old floating production, storage and offloading (FPSO) Petrojarl I has achieved first oil and commenced its five-year charter contract with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) on the Atlanta oilfield, which is the vessel’s 10th field over its lifetime.The Atlanta field, located in Block BS4 in the Santos Basin offshore Brazil, is a post-salt oilfield in water depths of approximately 1,500 meters about 185 kilometers from Rio de Janeiro.

03 May 2018

Teekay Offshore CFO Wong to Step Down

Teekay Offshore Partners L.P. announced today that David Wong will step down from his position as Chief Financial Officer of Teekay Offshore Group Ltd. to commence a new opportunity outside of the Teekay organization.Wong, who joined Teekay Corporation in 2009 and has served as Teekay Offshore CFO since 2015, will continue with the Teekay until August to assist with the transition while a search for his replacement is conducted.

22 Feb 2018

Teekay Offshore Partners Up on Revenue

Teekay Offshore Partners reported fourth quarter revenue at USD 295.7mln versus USD 274.9mln year ago, registering a growth of +7.6% YoY basis. “During the fourth quarter of 2017, we generated higher cash flow from vessel operations driven mainly by the delivery and contract start-up of two of our growth projects combined with lower G&A expenses," commented Ingvild Sæther, President and CEO of Teekay Offshore Group Ltd. “Recently, we finalized an agreement and are nearing completion of a second agreement in our FPSO segment which will extend the contract durations with existing customers on existing fields. We are pleased to report that we have entered into an agreement with Petrobras to extend the employment on the Ostras FPSO from January 2018 to May 2018…

02 Feb 2018

Light Well Intervention: TechnipFMC, Island Offshore Partner

Chairman of the Island Offshore Group, Morten Ulstein, together with the new managing director of Island Offshore Subsea AS, Odd Strømsheim after signing the collaboration agreement (Photo: TechnipFMC)

TechnipFMC said it has signed an agreement with the Island Offshore group to acquire a 51 percent stake in Island Offshore’s wholly owned subsidiary, Island Offshore Subsea AS. Island Offshore Subsea AS provides Riserless Light Well Intervention (RLWI) project management and engineering services for plug and abandonment (P&A), riserless coiled tubing and well completion operations. Island Offshore Subsea AS employs approximately 80 staff. Island Offshore Subsea AS has developed proprietary designs related to subsea P&A and riserless coiled tubing.

27 Dec 2017

Kawasaki, Island Offshore Drop Shipbuilding Contract

Kawasaki Heavy Industries (KHI) has decided to terminate, by agreement with Island Navigator In KS, its shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator. The yard state that is has been facing difficulties in its engineering process as well as with increases of material costs since the contract was signed. Combined with a common understanding that the environment surrounding the offshore development industry is, and will be, severe and unpredictable in the period of the Vessel’s remaining construction, and the ongoing financial restructuring of the Island Offshore Group, KHI and Island Offshore reached a mutual agreement to terminate the shipbuilding contract for the Vessel. “The Island Navigator would have been a fantastic vessel.

26 Dec 2017

Shipyard Contract Cancelled

Illustration of UT 777. (Copyright Rolls-Royce Marine AS)

Ongoing uncertainty in the global offshore energy sector has claimed another casualty, as Kawasaki Heavy Industries announced that it has terminated -- in agreement with Island Navigator I KS -- the shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator. A number of factors were cited in the decision to cease the construction, including difficulties in the engineering process and increased material costs since the signing of the contract…

26 Dec 2017

KHI, Island Offshore Terminate Newbuild Contract

Kawasaki Heavy Industries, Ltd. (KHI) announced today that the company has decided to terminate, by agreement with Island Navigator I KS, its shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator. The yard state that is has been facing difficulties in its engineering process as well as with increases of material costs since the contract was signed. Combined with a common understanding that the environment surrounding the offshore development industry is, and will be, severe and unpredictable in the period of the Vessel’s remaining construction, and the ongoing financial restructuring of the Island Offshore Group, KHI and Island Offshore reached a mutual agreement to terminate the shipbuilding contract for the Vessel.

18 Dec 2017

Petrojarl I Sails for Brazil Following Upgrades

FPSO Petrojarl I (Photo: Teekay)

Teekay’s long standing 31-year-old floating production, storage and offloading (FPSO) unit Petrojarl I has sailed-away en route to the Atlanta Field off Brazil following upgrades at the Aibel AS shipyard in Norway. “This has been a challenging project for Teekay Offshore and today therefore marks a significant milestone for the Petrojarl I FPSO upgrade project,” said Ingvild Sæther, President and CEO of Teekay Offshore Group Ltd. Once the FPSO arrives at the Atlanta field, it…

30 Nov 2017

First Oil and Contract Start-up for Libra FPSO

(Photo: Teekay)

Teekay Offshore Partners L.P. announced that its jointly owned floating production storage and offloading (FPSO) unit, the FPSO Pioneiro de Libra (Libra), has achieved first oil and commenced its 12-year charter contract with a group of international oil companies, including Petrobras, Total, Shell, CNPC and CNOOC Limited, on the Libra oil field where it will perform early well tests. The Libra FPSO unit is the first unit to produce oil on the giant Libra block, which covers more than 1,500 square kilometers in the Santos Basin.

28 Nov 2017

Teekay Orders Additional Shuttle Tanker Duo

Teekay Offshore Partners L.P. has declared options with Samsung Heavy Industries Co., Ltd. for the construction of two Suezmax  DP2 shuttle tanker newbuilds for a total fully-built-up cost of approximately $265 million. Upon delivery in 2020, the vessels will join Teekay Offshore’s Contract of Affreightment (CoA) fleet in the North Sea. “This is another important milestone for Teekay Offshore’s shuttle tanker franchise since it further strengthens our position as the leading provider of CoA shuttle tanker services in the North Sea,” said Ingvild Sæther, President and CEO of Teekay Offshore Group Ltd. According to Teekay, the newbuilds will be constructed based on the Partnership’s new Shuttle Spirit design which incorporates technologies to increase fuel efficiency and reduce emissions…