Semco and PV Join Forces for Rig Upgrade

By Joseph R. Fonseca
Wednesday, July 23, 2014
New Office

 

Semco Maritime and PetroVietnam Marine Shipyard join forces to establish high class rig upgrade player in South East Asia - Vung Tau Rig Services. The initiative shall tap into the growing market for rig upgrades in the region.

Semco Maritime opens new office at the PetroVietnam Marine Shipyard office building to strengthen the strategic partnership PetroVietnam Marine Shipyard (PVMS) and Semco Maritime JSC have entered into a strategic partnership with the aim to perform rig repair, refurbishment and upgrades in Vietnam for local and international rig operators in the region.

The companies are combining their strong competences to offer high quality and cost efficient solutions under the alliance brand name: Vung Tau Rig Services.

Vung Tau Rig Services is a competitive and strong new provider of rig services in South East Asia. Semco Maritime and PVMS have worked together since 2012 and the partnership successfully completed two major rig upgrades in 2013. Now was the time to strengthen the cooperation even further.

“We’ve had operations in Vietnam since 2010, and we have been very active within accommodation modules,” says Morten Clausen, Managing Director of Semco Maritime JSC. “Now we are ready for phase two of our business plan with a focus on upgrades for the South East Asian offshore rig market and doing that with PVMS in our joint Vung Tau Rig Services holds very promising prospects and adds significantly to our South East Asia presence,” says Morten Clausen.

To strengthen the partnership Semco Maritime moved their office to the PVMS building. The grand opening of the new Semco Maritime office took place on the 22nd of July 2014 and the opening was well attended by clients and business partners.

The prospects for upgrades in the South East Asian offshore rig market are positive. Some 25 rigs are currently operating in Vietnamese waters and the access to upgrades in Vietnam will appeal to rig owners now having an alternative to moving their rigs to Singapore to have them upgraded. This saves both time and money and the new Vung Tau Rig Services is already looking for quay facilities to allow for upgrades of even larger rigs than now.

Mr. Phan Tu’ Giang, Managing Director of PetroVietnam Marine shipyard is pleased with the prospects as well: “We welcome Semco Maritime in our house and as a trusted partner. We unite our competences, enabling us to meet our common goal - to become a leading rig service specialist in Asia. We are proud to generate more jobs to local supply chain as well as skilled specialists.”

Semco Maritime

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Petrobras Downgrade Shakes Market

Moody's shocked bond investors this week with a surprise two-notch downgrade that put Brazilian oil company Petrobras in junk territory. The move was seen by some investors as overly assertive,

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

News

Spanish Boat Wins Leg of Ocean Race

Spanish boat Mapfre has claimed victory in the Auckland leg of the of the round-the-world Volvo Ocean Race from Sanya, China, to Auckland.   The Alicante-based

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

British Queen to Name New Ship

Queen Elizabeth II will christen P&O Cruises’ new flagship Britannia in Southampton, England, on March 10. She will be accompanied by her husband, Prince Philip, the Duke of Edinburgh.

Mergers & Acquisitions

VLCCF - 4Q & FY 2014 Results

Knightsbridge Shipping Limited ( VLCCF ) reports net income of $5.2 million and earnings per share of $0.06 for the fourth quarter compared with a net loss of $6.

NMM lines up Box Buy

Navios Maritime Partners L.P. (NMM) an international owner and operator of container and drybulk vessels, announced today that it has secured, for no consideration,

SpeedCast Acquires Geolink Satellite Services

SpeedCast International Limited announced the acquisition of Geolink Satellite Services, part of the CETel Group. The closing of the transaction is subject to regulatory approval.

Offshore Energy

Hercules Offshore Shares Fall 33%

Drilling contractor Hercules Offshore Inc's shares fell as much as 33 percent to a record low on Friday, a day after Deutsche Bank cut its price target on the company's stock to $0.

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Mexico Approves 5 Shallow Water Areas in Round One Oil Tender

Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1882 sec (5 req/sec)