Offshore Subsidiary News

Solstad Offshore's subsidiary, Solstad Rederi, has sold the Anchor Handling Tug Supply (AHTS) vessel Nor Spring.The 2008-built, 70-meter-long AHTS vessel has been in layup in Asia since 2020. "Delivery of the vessel to the new owner took place today, November 1, 2023," Solstad Offshore said, without disclosing the name of the buyer."The sale of the vessel will result in a positive accounting effect of approximately MNOK 50 to be reflected in the Q4 2023 accounts," the company said.According to MarineTraffic…

Solstad Offshore's subsidiary, Normand Ships, has completed the sale and delivery of the construction support vessel Normand Jarl to its new owner.Solstad Offshore first announced it had agreed to sell its 2013-built construction support vessel Normand Jarl in December 2022. It did not say who the buyer was.It was said at the time that the vessel would be sold to a buyer outside of the offshore industry. Solstad Offshore, based in Norway, will recognize a gain on the sale of about NOK 420 million (currently around $41…

Solstad Offshore, a Norwegian offshore vessel owner, said Tuesday it had sold the platform supply vessel Far Swan.The company, which last year said it would trim its fleet to make it more competitive, with a plan to divest 37 vessels "over a period of time," said  it had delivered the Far Swan to the new owner on November 16th, 2021."The sale of the vessel will result in an immaterial accounting effect for Q4 2021," Solstad Offshore said. The vessel was sold by Solstad Offshore's subsidiary Farstad Shipping.

Norwegian offshore vessel owner Solstad Offshore is continuing with divestments of non-core vessels and has now sold the Rem Provider platform supply vessel.The vessel, built in 2007, was sold by Solstad Offshore's subsidiary Solstad Rederi AS and the vessel was delivered to the new owner took on Friday. "The sale of the vessel will result in an immaterial accounting effect for Q4 2021," Solstad Offshore said, without sharing further details on the buyer or on the sale value. VesselsValue values the vessel at $3,25 million, with demolition value at around $1,13 million.

Norwegian offshore vessel operator Solstad Offshore said Friday it had sold its AHTS Sea Panther vessel for recycling.The vessel was sold through Solstad Offshore's subsidiary Solstad Rederi, and the delivery to the buyer took place today August 20th, 2021."The sale of the vessel will result in an immaterial accounting effect for Q3 -2021," Solstad Offshore said, without sharing the sale price."Solstad Offshore ASA is considering several vessels for green recycling as a part of our efforts to be in the forefront of sustainable and [environmentally] optimal operations.

Solstad Offshore's subsidiary Farstad Supply has sold its platform supply vessel Far Splendour.According to Solstad, the 74 meters-long vessel was delivered to the new owner on Monday, May 10, 2021."The sale of the vessel will result in an immaterial accounting effect for Q2-2021," Solstad Offshore said.The company did not say who the buyer was, nor for what price the vessel was sold. VesselsValue, as per May 9, valued the platform supplier at $1.78 million.The medium-sized platform supply vessel of the Ulstein P106 design was built by Ulstein Verft in 2003.

FPSO operator BW Offshore has reached a settlement with the New Zealand government over the FPSO Umuroa, which has been stuck at the Tui field, around 50 kilometers off the coast of Taranaki, for months.BW Offshore has been unable to remove its FPSO from the Tui field following the contract termination, client liquidation, and the country's court and environment regulator intervention.Client Tamarind Taranaki in October 2019 said it wouldn't extend the FPSO contract after December 31…

Marine surveyor SeaBird Exploration said on Monday it has been awarded two new contracts, including one in West Africa and another in the Gulf of Mexico.The company said it received a letter of award for a niche 3D survey in West Africa, with a total value of approximately $6.5 million. The survey is expected to commence in the second quarter of 2019, with a total duration of about 80 days including associated vessel transit.Due to fleet positioning and other contract opportunities, SeaBird will time-charter the Nordic Explorer for this survey and will also bid the vessel for subsequent opportunities in the second half of 2019. In connection with the charter agreement…

BlueStar – Subsidiary of STAR Group – has reached an agreement with regard to the acquisition of the activities of RH Offshore as of  July 1, 2018. The acquisition consists of the assets and liabilities of RH Offshore, subsidiary of Radio Holland Netherlands B.V. BlueStar will also take over the employees of RH Offshore. With this acquisition, BlueStar reinforces its position in the maritime and offshore industries. ‘With the acquisition of R H Offshore, BlueStar is investing in a high-quality pool of experienced offshore specialists…

Bremen-based shipping company Harren & Partner and "K" Line, Tokyo, have reached an agreement for Harren & Partner to acquire German carrier SAL Heavy Lift today (27 July 2017). SAL will become the new dominant player in the super heavy lift segment (900 t to 2,000 t crane capacity). SAL Heavy Lift, founded in 1980 in the "Altes Land" area near Hamburg, is one of the world's leading carriers specialised in the sea transport of heavy lift and project cargo. Its offshore subsidiary, SAL Offshore, develops and supplies installation solutions for the oil & gas and renewables sectors. Part of the "K" Line Group since 2011, SAL has access to a highly flexible fleet of 15 heavy lift vessels and a worldwide network with offices and agencies in 25 countries.

Offshore oil and gas drilling firm Northern Offshore Ltd. has reached agreement on the terms of a recommended $165m cash acquisition by Shandong Offshore International Company Limited. The NOK7.59 per share offer by Shandong has been unanimously recommended by the board of directors of NOF and undertakings to accept the offer have been received by approximately 65% of NOF’s shareholders, including Fredriksen’s Geveran Trading. The acquisition price values Northern Offshore's issued share capital at approximately NOK 1.3 billion. The acquisition is expected to become effective during the first half of August 2015. The takeover will see NOF merged with Shandong International Offshore subsidiary Blue Ocean Drilling with, the acquisition expected to become effective the first half of August.

Edison Chouest’s Fairweather, LLC lessens Arctic risk while increasing efficiencies in a challenging environment. As interest in offshore commerce in the Arctic increases, key components of any successful operation in this theatre include logistics, assets, and of course, a healthy dose of experience while operating in cold weather environments. To that end, Fairweather LLC’s Arctic operations include the Deadhorse Aviation Center (DAC). Strategically located at Prudhoe Bay, DAC provides oil companies and their suppliers with an aviation command center to manage both onshore operations and Outer Continental Shelf (OCS) exploration and production activities on the Arctic Ocean and Beaufort Sea.

Northern Offshore subsidiary, Northern Offshore International Drilling Company says it has executed a long-term drilling contract with an affiliate of CAMAC Energy Inc. for its drillship 'Energy Searcher'. The contract commits to an initial period of one year, with an option to extend the contact for an additional one-year term. Commencement of drilling activities on the Oyo Field offshore Nigeria is expected during the first half of 2014. The contract value for the first one-year term is just under US$100 million, plus mobilization fees.

Nordic American Tankers Ltd. (NAT) inform that they have created a new offshore supply vessel company, Nordic American Offshore Ltd. that has completed a $250m private placement. Earlier this month the investor market was informed that NAT was coordinating the establishment of Nordic American Offshore Ltd. (NAO). NAO, an offshore supply ship company, has now been established and NAT is its largest shareholder (26%) with an investment of $65 mill. Furthermore, NAO has agreed to buy six platform supply vessels (PSVs) from Ulstein engineering and shipbuilding group of Norway that holds 4% of NAO.

Keppel FELS is delivering its first rig of 2013, 'Dynamic Vision', to Dynamic Offshore subsidiary Vision Drilling. The KFELS B Class jackup rig, Dynamic Vision, is the first of the 20 offshore rigs that Keppel FELS is expected to deliver in 2013 and will be delivered almost two months ahead of schedule (with a perfect safety record), to garner an early delivery bonus of about US$ 1 million. Built and optimised to meet the unique environmental requirements of India, Dynamic Vision is capable of operating in water depths of 350 feet and drilling down to 30,000 feet. Keppel's advanced and fully-automated high capacity rack and pinion elevating system and self-positioning fixation system have been incorporated into the design.

Friede Goldman Halter, Inc., announces that its offshore subsidiary has reached an agreement with Petrodrill IV Ltd. and Petrodrill V Ltd. to advance construction of two Amethyst-class deepwater semisubmersible drilling rigs. Friede Goldman will work at the customer?s direction, and operate on a cost-reimbursable basis with contractually established rates for equipment, personnel, and labor. The agreement is expected to generate greater security and additional employment opportunities for the local workforce. Preliminary estimates place work for this phase of completion at four months for the Company?s Pascagoula, Miss., offshore projects at the east facility on Greenwood Island. The West Bank facility will undergo a restoration and upgrade during the temporary closure.