Oil And Gas Markets News

If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana), described his company’s architecture as a “three-legged stool approach: commercial newbuilds, government newbuilds and repair/conversion capabilities”.On the same panel…

“The winds of change are blowing wild and free.” – Bob DylanIn the U.S. offshore wind industry, developments over recent months have placed an exclamation point on the word “wild”. Yes, the wind still blows “free”, but mounting challenges have proven that harnessing its power offshore is anything but. In fact, far from it, as rising materials costs, high interest rates, labor shortages and supply chain delays, among other issues, have delivered heavy blows to the commercial viability of several projects.

Russia energy infrastructure has been hit by drone attacks and fires in the past month, adding to uncertainty in global oil and gas markets already rocked by the conflict in the Middle East.Russia and Ukraine have targeted each other's energy infrastructure in strikes designed to disrupt supply lines and logistics and to demoralise their opponent as they try to get the edge in a nearly two-year-old war that shows no sign of ending.Following are recent major incidents at Russian oil facilities in the past month:* A Russian appointed official said on Jan.

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.

In the months and years before the Covid-19 pandemic, the world was getting used to the idea of reducing its reliance on oil with more focus on liquefied natural gas (LNG). Consequently, shipyards and shipowners responded to the shift by building new or recommissioning existing LNG carriers and storage vessels.However, reducing dependence on Russian oil and gas from much of the world market – where it was the second biggest exporter of the product – has instigated a greater scramble…

Shane Guidry transformed Harvey Gulf from an inland and offshore towing vessel operator to a provider of offshore vessel services in the Gulf of Mexico and international oil and gas markets. Innovation initiatives he has spearheaded include, among others, leading the company to become the United States’ first owner and operator of liquefied natural gas (LNG)-powered offshore support vessels, as well positioning the firm as the first LNG bunkering facility operator in the U.S.

St. Louis-based coatings specialist Carboline is celebrating its 75th year in business in 2022. From humble beginnings in 1947, Carboline has grown into a global organization that has launched more than 500 products, with more than seven research facilities, 20 manufacturing facilities and hundreds of warehouses. Still, the company has remained laser-focused on quality, innovation and top-notch service.“Our offering to the maritime market is very unique,” said Brad Treuting, Carboline’s director of sales for marine and offshore in the U.S. Gulf and East Coast.

President Joe Biden said U.S. actions to eliminate supply-chain snarls have staved off a pre-Christmas crisis, ahead of a meeting with U.S. officials and private-sector companies, including FedEx, on Wednesday.Biden created a task force in June to address high prices and shortages of consumer goods and crucial components, thanks to pandemic-related labor and demand issues.After pushing for round-the-clock port operations, new transport rules and enlisting the help of big retailers including Walmart Inc.

While 2020 proved to be a challenging year for offshore oil and gas markets, the same cannot be said about offshore renewables, which saw substantial growth."It is expected that a number of offshore support vessels (“OSVs”) and crew boats will be redeployed from the offshore oil and gas sector to service the offshore wind industry and that existing offshore wind installation vessels will be upgraded as turbines continue to scale up."Offshore renewable projects achieved an estimated record project sanctioning of US$56bn…

As the traditional offshore oil and gas markets continue to struggle, the renewable offshore wind market is hot and getting hotter.As the cumulative maritime, offshore, port and logistics marketplace gears up for offshore wind energy on a huge scale, World Energy Reports (WER), in its report “2021 The Year When Offshore Wind Takes Off in the United States,” shows the anticipated growth trajectory. Service Operations Vessels (SOVs), which can commission and/or maintain turbines…

Oslo-listed Offshore Heavy Transport has said it has recently experienced an uptick in demand for the transportation of offshore wind equipment to China."OHT’s fleet of semi-submersible heavy transportation vessels have been busy transporting offshore wind equipment to China, supporting the huge surge in development of offshore wind farms in the fast-growing market. This followed OHT’s largest transportation project to date, which saw three of OHT’s transport vessels engaged in offshore wind foundation transportation from the UAE to Scotland for the majority of 2020…

Fourteen U.S. states including Louisiana and Wyoming filed suits on Wednesday against President Joe Biden's administration to challenge his pause on new oil and gas leasing on federal lands and waters.The legal actions, which seek to restore regular federal drilling auctions, come a day before the administration is set to launch a review of the oil and gas leasing program.Biden, a Democrat, in January signed an executive order putting on hold new leasing pending that review. During his election campaign…

Mako Industries signed an agreement with C-Innovation to mitigate the spread of Covid-19 on its offshore construction vessels, beginning with the 168-m Island Venture. Mako uses Puradigm to combat air and surface contaminants safely in populated environments 24/7, and it has capabilities for managing projects for existing facilities and new construction, with service recently made available for the oil and gas, healthcare, industrial, commercial and higher education markets.Click HERE to read related story on Mako Industries“We are pleased to have selected Mako’s Covid Mitigation system…

Great Lakes Dredge & Dock, a U.S.-based dredging services giant, on Wednesday announced the appointment of industry veteran Eleni Beyko as senior vice president offshore wind – a strategic growth area for the company. Beyko, who started on Jan. 25, brings more than 20 years' experience in program engineering, business leadership and project management in the automobile and offshore oil and gas markets. At GLDD, she is responsible for developing its offshore wind operations, including strategy and business development, tendering and project execution.

Maritime security risk management firm Dryad Global announced Tuesday it has appointed Teresa Peacock as its first non-executive director.Peacock is currently managing director at maritime staffing and recruitment firm Spinnaker Global and a member of the Maritime UK’s Diversity Taskforce, a board member of the Women's International Shipping & Trading Association (WISTA UK) and a part of the All Party Parliamentary Group for Women and Work. Her experience spans a career in recruitment of over 30 years…

Offshore energy and marine consultancy AqualisBraemar has completed the acquisition of the marine and engineering consulting firm LOC Group (London Offshore Consultants).Oslo-listed AqualisBraemar announced the completion of the transaction on Tuesday, saying the acquisition created "a leading global independent offshore energy and marine consultancy."As part of the transaction, originally announced on November 23, AqualisBraemar acquired 100 percent of the shares in Neptune Midco 1 Limited from the ultimate parent company of the LOC Group…

Offshore energy and marine consultancy AqualisBraemar will acquire marine and engineering consulting firm LOC Group (London Offshore Consultants).Oslo-listed group AqualisBraemar, which offers consultancy services to the offshore energy industries, said Monday that the acquisition would create "a leading global independent offshore energy and marine consultancy."David Wells, CEO of AqualisBraemar, said: "Our strategy is clear; we want to grow through continued expansion in the rapidly growing offshore renewables industry…

The offshore oil and gas downturn has claimed three more victims.Dutch-based Vroon Offshore Services (VOS) will dispose of three out-of-work platform supply vessels (PSV) in an effort to "right-size" its fleet amid the prolonged industry slump, the offshore services firm announced Wednesday.The 2006- and 2007-built VOS Power, VOS Producer and VOS Prominence will be mobilized to a ship-recycling facility during the second half of this month to be dismantled in compliance with EU/national laws and all applicable international regulations and guidelines…

Global Offshore, a provider of cable installation, repair and trenching services to the offshore renewables, utilities and oil and gas markets and part of the Global Marine Group, is adding offshore installation and construction vessel Normand Clipper to its fleet. The vessel, on long-term charter from Solstad Offshore, will be operational within the first quarter of this year.The charter gives Global Offshore options for up to eight years.The Normand Clipper is currently being fitted with a 4…

American manufacturer of marine vessels used in the energy sector, Gulf Island Fabrication Inc. (GIFI) has received an award for the construction of a (70) seventy vehicle ferry from the Texas Department of Transportation.The fabricator of complex steel structures, modules and marine vessels said in a press note that the delivery is scheduled for late 2021.The ferry will operate between Galveston and Bolivar Island, Texas, it said.“I am pleased to have been selected to build this ferry for the Texas Department of Transportation," said Kirk Meche, Gulf Island’s President and Chief Executive Officer.“This award is another example of our commitment to diversify outside of our traditional oil and gas markets to provide opportunities for our employees and returns for our shareholders…

Despite difficult markets Wrist Ship Supply was able to grow its business during 2018 and to consolidate its position as the world’s largest supplier of provisions and stores to ships and offshore locations, claimed the ship and offshore supplier of provisions and stores.Most shipping segments saw pressure on earnings, and the recovery in the oil and gas markets was limited during 2018. The customers’ demand for lower operating costs by strict budget control and shift towards lower priced goods continued.“As a trusted partner, we side with our customers in their pursuit of profitability, even more so in the present tough market conditions.

Singapore has been ranked the world's top maritime capital for the fourth consecutive time in the Leading Maritime Capitals of the World (LMC) report. The Leading Maritime Capitals report for 2019 is with fresh insight on which maritime metropolises provide the best support for companies in shipping and related services.Criteria include soft and hard infrastructure and access to world-class talent and services – all key components that maritime businesses need to thrive in their chosen locations.Singapore maintained its top position at the head of the 15 leading maritime capitals. Despite a somewhat weak trade cycle in traditional shipping and offshore oil and gas markets yet to recover…

Sif Holding, the manufacturer of large steel tubulars, has entered into exclusive negotiations for the delivery of 33 monopiles and 33 Transition pieces (25 KTon steel) for an offshore wind project in Japan.The current state of negotiations has led to a pre- order of the steel for the project, said the Netherlands-headquartered company, which provides steel foundations to the offshore wind, oil and gas markets.Manufacture of the MP/TP-foundations and disclosure of project details is subject to the issue of a Notice To Proceed (NTP) by the client, it said.Sif’s orderbook for 2020 now has approximately 175 Kton of which 25 Kton under exclusive…