Platform Supply Vessels News

Kristian Siem, founder and longtime leader of Siem Offshore, is stepping down as chairman of the Norwegian offshore support vessel (OSV) firm after reaching a deal to acquire nine vessels in exchange for his 35% stake in the company.The company announced it has reached an "amicable agreement" to sell Siem Barracuda, Siem Stingray, Siem Opal, Siem Pearl, Siem Topaz, Siem Pilot, Siem Pride, Siem Symphony and Siem Thiima to Kristian Siem's Siem Sustainable Energy S.a r.l and related companies in exchange for 35% of the company’s shares.The other major shareholder is Christen Sveaas' Kistefos…

Shipowner and shipping fund manager Pelagic Partners announced it has teamed up with asset management firm Borealis Maritime to invest in a pair of platform supply vessels (PSV).Built in 2021, the 89-meter Aurora Coey – formerly Viking Coey – and Aurora Cooper – ex-Viking Cooper – are both dual-fuel and capable of operating on liquefied natural gas (LNG), as well as being ammonia-ready. The ice-class sister vessels are fitted with hybrid battery power, and Low Loss Concept (LLC) solutions that further reduce emissions…

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.

Green Ships Invest has signed a contract to purchase of Amogy’s carbon-free ammonia-to-electrical power systems for a fleet of new environmentally friendly platform supply vessels (PSV). Green Ships, which is designing/procuring so-called ePSVs (electrical PSVs), had signed a memorandum of understanding (MOU) with Amogy in October 2023.Under the newly signed contract, Green Ships Invest will design the ePSV to be equipped with 2 megawatts (MW) of clean energy capacity through the integration of ten of Amogy’s pioneering 200 kilowatt (kW) ammonia-to-electrical power systems.

Norwegian shipowner Siem Offshore has secured new contracts with TotalEnergies for two of its platform supply vessels (PSV) for work offshore Brazil.The contracts are for Siem Giant and Siem Atlas PSVs.The new duration for Siem Giant is three years firm with options up to four more years.For Siem Atlas, the new duration is nine months firm with options until the end of the second quarter in 2027.Both vessels will start the contracts in June 2024 in direct continuation of present contracts…

Norwegian vessel owner Golden Energy Offshore Services (GEOS) has entered into contracts for two of its platform supply vessels (PSVs) – Energy Passion and Energy Paradise.The contract is with ‘Tier 1 international oil major’ whose name was not disclosed, with the operations planned to take place in the North Sea.The contract for the 2016-built Energy Passion PSV is for one-year firm, with one-year option.The Energy Paradise PSV, built in 2015, has been hired for six months firm and six months option.The gross contract value for the firm period is $14 million…

SEACOR Marine announced it will convert four of its platform supply vessels (PSV) to battery hybrid power in a move to enhance efficiency and slash emissions.The Houston-headquartered marine transportation firm said on Thursday it has ordered containerized energy storage systems (ESS) from Norway's Kongsberg Maritime for install aboard SEACOR Ohio, SEACOR Alps, SEACOR Andes and SEACOR Atlas.The four 278.4-foot-long PSVs are all of Kongsberg Maritime's UT771 CDL design and were built in China from 2018 to 2020.

Ammonia is one of several renewable fuels seen as an option to help the maritime industry decarbonize.One of the companies working to unlock the fuel’s potential is Brooklyn, N.Y. based Amogy, developer of an onboard system that feeds liquid ammonia through a cracking process to create hydrogen on demand for power generation via fuel cell—without carbon emissions.Having already demonstrated its technology on an aerial drone, tractor and semi-truck, Amogy is currently working to…

Dutch offshore survey firm Fugro has reached an agreement to acquire two platform supply vessels (PSVs), Sea Goldcrest and Sea Gull, which will be converted to geotechnical vessels to address the needs of growing offshore wind sector.The addition of the Sea Goldcrest and Sea Gull, built in 2019 and 2020 respectively, to its owned fleet will further strengthen Fugro’s ability to address the market demands and shortage in geotechnical capable vessels, the company said.With the purchase of these strategic assets Fugro will operate a balanced fleet of owned and chartered vessels…

Oslo-listed Standard Supply has recently agreed to sell three large platform supply vessels, Standard Viking, Standard Supplier, and Standard Defender, for a gross of $72.2 million.Adjusting for ownership, proceeds to Standard Supply will be $69.5 million gross. The transaction is contingent upon certain conditions to be lifted by the end of November, and completion is expected no later than mid-January 2024. Martin Nes, Chairman of Standard Supply said: “Standard Supply was always intended to be an asset play with an opportunistic approach towards the market.

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…

Norwegian partners are planning to build a series of zero-emissions platform supply vessels (PSV) equipped with Amogy's ammonia-to-power technology.Green Ships AS, a consultancy specialized in the design and construction of environmentally friendly vessels, and Bourbon Horizon AS, an international offshore shipping company, have signed an MoU with Amogy for the supply of its technology to two PSVs. The deal includes an option for a third vessel.Bourbon Horizon, formerly Bourbon Offshore Norway, will be the commercial and technical manager of the new vessels.

An offshore wind industry is growing in the U.S. with an aim to meet the Biden Administration’s goal of 30 gigawatts (GW) of offshore wind by 2030, and eventually 110 GW by 2050.But as is the case for any new industry that is building up, there are going to be bumps along the way. The U.S. offshore wind industry is currently grappling with rising costs amid unprecedented supply chain issues and inflation, among other issues.One of the main challenges unique to offshore wind is a shortage of vessels.

Britoil Offshore Services said this week it had acquired 30 offshore service vessels and supporting offices in Singapore from Dutch shipping firm Vroon."The acquisition will see an expansion of Britoil’s operating footprint into the Mediterranean, the North Sea and Asia Pacific. The operations will also synergise in the Middle East and Africa," Britoil said.The 30 vessels and supporting offices were part of Vroon’s offshore services business. Earlier this year, Vroon announced it would sell these vessels as part of a strategic reorientation.

The Norwegian offshore vessel owner Golden Energy Offshore Services AS (“GEOS”) said Wednedsay it had entered into a memorandum of agreement (the “MoA”) with an undisclosed buyer for the sale of the subsea support vessel VOS Sugar.The VOS Sugar is one of the Vroon Offshore vessels GEOS agreed to buy last month, a purchase which is in the process of completing. The MoA is subject to satisfactory vessel inspection by the buyer. Provided that the subject is lifted, the sale is expected to be completed in November 2023. "The agreed sales price in the MoA is EUR 15 million and when completed would represent a substantial cash profit to the company relative to the acquisition cost of USD 9.4 million in the [Vroon fleet acquisition]…

Tidewater Inc., the world's largest fleet operator in the offshore support vessel (OSV) industry, has signed a Global Value Agreement (GVA) with engine manufacturer Caterpillar to ensure comprehensive parts, service, monitoring and maintenance support to help reduce total cost of ownership (TCO) and increase uptime and availability.Tidewater’s fleet of more than 200 OSVs, including platform supply vessels (PSV), anchor handler towing supply vessels (AHTS), offshore tugs and crew boats…

Dutch offshore survey firm Fugro will convert the Fugro Resilience and the Topaz Endurance, two ULSTEIN PX121 platform supply vessels (PSVs), to geotechnical vessels, targeting their deployment in the global offshore renewable energy market.Fugro acquired the two platform supply vessels, the Topaz Endurance and the Topaz Energy (renamed Fugro Resilience), in February 2023.Ulstein Design & Solutions AS is responsible for the redesign of the two vessels, and on September 22, 2023, Fugro awarded Ulstein Verft a contract to convert the Fugro Resilience. Both vessels were built in 2015.

Norwegian offshore vessel operator Golden Energy Offshore Services (GEOS) has entered into a binding Memorandum of Agreement for the acquisition of four platform supply vessels and one subsea support vessel from subsidiaries of Vroon Holding B.V. for a total consideration of $94 million.Dutch vessel owner Vroon earlier this year completed the implementation of the financial restructuring for the “new” Vroon focusing on specialized fleet of deepsea vessels (livestock carriers, product tankers, and high-heat tankers) and emergency response and rescue vessels (ERRV). As part of the restructuring, the majority ownership of Vroon has transferred to the company lenders…

Norwegian offshore vessel operator Solstad Offshore has officially exited the platform supply vessel business.Namely, the company on Wednesday completed the sale of its PSV fleet to the U.S. offshore vessel firm Tidewater for approximately $580 million. The transaction, first announced in March, was completed Wednesday, with all 37 platform supply vessels, primarily used for transporting essential supplies and equipment to offshore oil and gas platforms and drilling rigs, successfully delivered to Tidewater…

Norwegian offshore vessel owner Solstad Offshore has revealed the expected completion date for its previously agreed sale of 37 platform supply vessels to the U.S. offshore vessel firm Tidewater.Solstad Offshore in March said it would sell 37 PSVs to Tidewater in a move that will mark Solstad Offshore's exit from the platform supply vessel sector.In a statement on Wednesday, Solstad Offshore said the transaction was scheduled to be completed in "week 27." Given that we're currently in week 26 of 2023…

Havila Shipping announced it has secured contract extensions for two of its platform supply vessels (PSV).The Norwegian offshore support vessel owner said on Tuesday it has entered into an agreement with Equinor Energy AS for the PSV Havila Clipper for extension of the existing contract until June 2024. It is also agreed an optional period for 6 months for the period to December 2024.In addition, Havila said it entered into contract with Peterson Den Helder BV for two optional periods each of one year, for the PSV Havila Borg.

Norway's Kongsberg Maritime on Tuesday showcased a new line of offshore ship designs in its UT Design portfolio. The new anchor handler (AHT) and platform supply vessels (PSV) have the option to include alternative energy sources and fuels, such as methanol, ammonia, and hybrid-battery power.The AHT and PSV designs have received Approval in Principle from class society DNV to operate with ammonia-fuelled engines and they can incorporate an offshore charging capable plug-in hybrid option…

Norwegian offshore vessel owner REM Offshore has selected Vard Electro and its SeaQ solutions to upgrade battery technology onboard one of the company's platform supply vessels.Vard Electro will deliver a complete SeaQ Energy Storage System package for the vessel retrofit as REM Offshore is proactively upgrading its fleet with hybrid power in pursuit of greener and safer operations with lower fuel costs.The SeaQ package includes energy storage system, drives, energy management system…