Offshore Supply News

Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side has also started to wake from its slumber albeit ever so slightly at the time of writing. Moreover, we register an interesting dynamic on the shipowner side, where everyone is trying to position themselves for the impeding market boom.Please note that vessel definitions and abbreviations in this part of our industry can vary…

2024 marks 50 years of ship design work for Kongsberg Maritime. From setting the benchmark that set the standard for offshore supply vessels in the 1970s, to advanced anchor handlers that transformed the oil and gas industry, and a growing reference list in fishery and merchant ships, Kongsberg Maritime’s range of ship designs has continued to evolve over the past five decades.The early 1970s, at the dawn of the offshore oil and gas industry, saw the very first vessels, designed…

American Bureau Of Shipping (ABS) has joined the BlueBARGE project, a program funded by the Horizon Europe program and involving 14 partners from 10 European countries to develop a comprehensive solution for offshore electrical power bunkering.ABS is leading the 36-month, $11.9 million (€11 million) project and will support the consortium in safety, classification and regulatory compliance.To limit local pollution and greenhouse gas emissions, BlueBARGE is developing and testing a new way for ships docked in port to plug into electrical power known as cold ironing.

The Norwegian Directorate for Civil Protection gave their approval to the construction of the planned ammonia bunkering facility at Fjord Base in Florø, Norway.The planned terminal consists of a floating stationary barge with a capacity of 1,000 cu. m. (650 tons) of ammonia. The permit allows for up to 416 operations annually, many of these expected to be bunkering operations for offshore supply vessels that regularly call at Fjord Base in Florø.The planned terminal is part of Yara Clean Ammonia and Azane’s efforts to make low-emission ammonia a common fuel for shipping.

A floating offshore wind farm planned in Arctic waters on Friday received 2 billion Norwegian crowns ($193 million) in state funding, with Norway viewing the still costly technology as a key contributor for industry development and emission cuts.The GoliatVind project in the Barents Sea, consisting of five 15 megawatts turbines and seeking to supply power to the Arctic town of Hammerfest, beat out six other applicants in a tender by government agency Enova.Norway hopes that floating offshore wind will provide an industrial future for its offshore supply industry as well as a means of cutting e

Norwegian offshore vessel owner Siem Offshore has been awarded a contract extension for the multi-purpose support vessel (MPSV) Siem Dorado.According to Siem Offshore, the extension secures the utilization of Siem Dorado MPSV for a period reaching towards the end of the fourth quarter in 2024.The contract is expected to start in direct continuation of the current contract with continued operations expected outside the North Sea.The Siem Dorado is a 2009-built diesel electric-driven vessel.

Offshore vessel owner Harvey Gulf International Marine announced it is modifying its fleet of five dual fuel liquefied natural gas (LNG)/diesel electric powered offshore supply vessels (OSV).A key enhancement includes the segregation of Liquid Mud tanks into six isolated independent tank systems, each equipped with dedicated pumping, valve, loading, and discharging systems with zero chance of cross contamination.The first vessel to undergo these modifications, the 310’ DP2 Harvey Liberty…

The U.S. Coast Guard announced a new merchant mariner credential (MMC) set to launch on March 1, 2024, marking the first comprehensive revision of the mariner credential in nearly a decade.The Coast Guard is the exclusive source of U.S. MMCs, which are required for U.S. mariners who serve on commercially operated vessels such as passenger boats, tug and barges, offshore supply vessels, and deep draft ocean going cargo vessels throughout the nation and internationally.The Coast…

2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…

A ‘Connected Future’ seminar, organized by Inmarsat in collaboration with Maritime Reporter & Engineering News and moderated by Greg Trauthwein, encapsulated the critical roles technology and data sharing play in enabling more efficient and sustainable workboat operations, and in improving conditions for crew.Insights from leading Offshore Supply Vessel owners and operators capture the extent to which technology and data sharing are driving greater efficiency, sustainability and…

Franklin, La. shipbuilder Gulf Craft in December delivered WINDEA Intrepid, a new crew transfer vessel built for WINDEA CTV, a partnership between Hornblower Wind and MidOcean Wind.Designed by Incat Crowther and classed by Bureau Veritas, the 30-meter-long aluminum catamaran has capacity to carry 24 technicians, plus six crew. It is powered by four Volvo DI13 main engines that drive quad Volvo IPS propulsion units. The vessel is described as "hybrid-ready", meaning it has been…

McAllister Towing has released its inaugural sustainability report.ABS specialists worked with McAllister’s team to provide greenhouse gas inventory and sustainability reporting services, calculating the operational carbon intensity and benchmarking the performance of the McAllister fleet of more than 60 vessels, including tugboats, passenger ferries, offshore supply vessels, crew boats and barges in over 13 locations along the U.S. East Coast.The report covers topics such as McAllister’s fleet profile…

AD Ports Group said Tuesday it had acquired offshore vessels from E-NAV, for around $200 million, to bolster offshore operations in the Middle East and Southeast Asia.According to AD Ports, the vessels make up a well-maintained, diversified fleet with an average age of around 9 years, significantly less than the industry average. All 10 vessels are expected to be delivered in Q4 2023 with financial consolidation taking place from Q1 2024 onwards."The acquisitions, from international Offshore Supply Vessel owner and operator E-NAV…

Swedish offshore vessel owner Viking Supply Ships has taken delivery of the Andreas Viking AHTS, previously known as the Far Senator.In March 2023, Viking Supply Ships said it would take two Ocean Yield-owned AHTS vessels, Far Senator and Normand Statesman, on bareboat charters for a period of five years, with purchase options during the charter period, and an obligation to purchase the vessels at the end of the charter period if requested by Ocean Yield AS. The company, that owns and operates a fleet of offshore supply and icebreaking vessels…

Increased activity in the Brazilian offshore oil and gas sector could help strengthen the market recovery for offshore supply vessels (OSV) in the U.S. Gulf of Mexico.In early October, Brazilian state-owned oil company Petrobras issued requests for quotations (RFQ) for up to 20 OSVs ranging from 3,000 to over 4,500 deadweight tons to support upcoming drilling and production activities. The value of all of these potential long-term charters could approach $1 billion.While Petrobras typically prefers to use Brazilian-flagged vessels…

Oil and gas company Wintershall Dea has declared options to extend the contract for Eidesvik Offshore's supply vessel Viking Princess. The contract extension runs from January 2024 in direct continuation of the current contract, extending the firm period to January 2025.“This extension is a quality mark for the operations and services delivered, and we look forward to continuing our cooperation with Wintershall Dea”, says Gitte Gard Talmo, CEO and president of Eidesvik Offshore ASA.According to Eidesvik Offshore…

On a windswept island 50 miles north of Seattle sits a U.S. Navy monitoring station. For years, it was kept busy tracking whale movements and measuring rising sea temperatures. Last October, the Navy gave the unit a new name that better reflects its current mission: Theater Undersea Surveillance Command.The renaming of the spy station at the Whidbey Island naval base is a nod to a much larger U.S. military project, according to three people with direct knowledge of the plans:…

Norwegian offshore vessel owner Siem Offshore has been awarded a contract extension for the multi-purpose support vessel Siem Dorado.The contract extension secures utilization for a period reaching towards the end of Q2 2024.The contract is expected to start in direct continuation of the current contract with continued operations expected outside the North Sea.Built in 2009, the Siem Dorado is a diesel electric-driven vessel. It is designed to meet the general offshore supply market with its 100-ton compensated offshore crane, designed for ROV and light construction duties.

A fishing vessel has been converted to operate as a Jones Act compliant crew transfer vessel (CTV) in the U.S. offshore wind industry.Hornblower Marine announced it converted the former fishing vessel Nice Day Too for New Bedford, Mass. based Coast Line Transfers.The 59-foot-long Capt. Les Eldridge, which was originally constructed on the Gulf Coast, underwent extensive bow conversion and other vessel upgrades at Hornblower Marine’s Bridgeport, Conn. facility to provide necessary cargo and passenger loading space required to safely serve offshore wind platforms…

The offshore supply vessel industry has weathered a tumultuous decade characterized by a prolonged trough that tested the resilience of vessel owners. However, the tides have turned, and the industry is now experiencing a strong and much-awaited revival.The offshore supply vessel industry has weathered a tumultuous decade characterized by a prolonged trough that tested the resilience of vessel owners. However, the tides have turned, and the industry is now experiencing a strong and much-awaited revival.While long seen as a derelict industry by investors…

Glamox launched new range of energy-efficient indoor lighting for vessels and offshore installations, with an eye on style.The AL40 LED range of indoor luminaires is specially designed to light the interior of vessels and offshore installations. The luminaires are designed to provide comfortable and glare-free lighting for locations where crew and passengers spend a lot of time. This includes offices, cabin corridors, staircases, crew cabins, control rooms, and the bridge. On an offshore rig…

It’s a big deal when a U.S. president visits an American shipyard, and these trips always send a message. When President Obama spoke at HII’s Newport News Shipbuilding in 2013, he warned of the consequences of sequestration. President Trump’s 2020 speech at Fincantieri Marinette Marine touted a $5.5 billion naval contract that gave a welcome boost to the Wisconsin shipyard and its supply chain partners. Most recently, President Biden traveled to Philadelphia’s Philly Shipyard…

The IMO’s latest crunch meeting in early July may not have aligned global shipping with mid-century targets established in the 2015 Paris Agreement. However, its 2023 Strategy indicates a clear direction of travel. Energy supplies by sea are essential for many countries and therefore ships have a key role in supporting the world’s energy transition – not only on their own account, but at a global level.As world shipping accounts for about 3% of greenhouse gas emissions, its environmental importance attracts wide attention. And plenty of criticism.