Hornbeck Offshore Services, Inc. announced today that it has entered into a definitive asset purchase agreement with certain affiliates of Nabors Industries Ltd. to acquire 20 offshore supply vessels and their related business for cash consideration of $186m, plus the cost of any fuel inventory on such vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The Company has also agreed to purchase one 285-foot DP-2 new generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. The expected cost of this newbuild vessel, prior to allocation of construction period interest, is approximately $34.0 million, of which about $7.3 million will be paid to Nabors at closing. All of the vessels to be acquired by Hornbeck Offshore are U.S. flagged and qualify for U.S. coastwise trade under the Jones Act except for one of the conventional vessels, which is foreign-flagged. In addition, under a separate agreement and effective upon closing, Hornbeck Offshore will manage five Nabors-owned Mexican flagged vessels currently operating offshore Mexico. The Sea Mar acquisition will be funded with cash on-hand and is expected to be immediately accretive to earnings. Cash utilized for this transaction will not alter the Company's plans to fund its previously announced newbuild and conversion programs from remaining cash on-hand and
Nabors Industries Inc. on Thursday reported better-than-expected first-quarter earnings, propelled by a surge in demand for its drilling rig fleet and services. The Houston-based driller earned $.51 per diluted share on a quarterly record operating income of $124 million, compared with $.12 a share on $33.2 million in the year-ago quarter. Wall Street analysts polled by Thomson Financial/First Call had estimated first-quarter earnings of 45 cents a share.
ABS Nautical Systems has signed a contract with Arina Offshore (Fze) for use of its NS5 Enterprise software, marking the fourth new customer win in this region. The Dubai based company which specializes in vessel chartering and brokerage will utilize the Maintenance Manager module on one of its offshore vessels through the ABS Transfer of Class Agreement (TOCA) Initiative*. The TOCA Initiative offers free software to any vessel that transfers class into ABS.
Singapore's CH Offshore Ltd has chartered out two AHTS vessels on long term bareboat charters to an unamed company. The charter concerns the “Amethyst”, a 2007-built 12,240 brake horsepower anchor-handling tug supply vessel and the “Turquoise”, a 2007-built 12,240 brake horsepower anchor-handling tug supply vessel, for a period of three years each, with an option to purchase at the expiration of the charter. CH offshore
ABS, a global provider of classification services to the marine and offshore industries, announces the opening of a new office in Beijing. This move shows ABS' determination in expanding best-in-class service for the Chinese market. This new office will allow further collaboration with government, industry, academic institutions and research organizations and is part of ABS' continued commitment to serving the growing marine and offshore industries in China.
Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers investments of around NOK 2 billion, realizing a 60-70 percent cost reduction per MW from the Hywind demo project in Norway. Statoil will install a 30 MW wind turbine farm on floating structures at Buchan Deep, 25 kilometers offshore Peterhead
The National Offshore Safety Advisory Committee (NOSAC), sponsored by the U.S. Coast Guard, will conduct a teleconference meeting on February 3. The purpose of the meeting is to discuss the formation of a subcommittee on application of the Safety of Life at Sea (SOLAS) Convention to various types of offshore support vessels working in foreign locations. 70 Fed. Reg. 3051 Source: HK Law
One of Jumbo Offshore’s heavy lift & installation vessels, the DP2-ship Jumbo Javelin, is preparing to deliver installation services for offshore wind farms. It will be able to ship and install Transition Pieces (TP’s) for wind turbines. The vessel will be able to carry nine TP’s at a time, each with a weight of approx. 285 tonnes. All the TP’s can be stowed vertically in the hold of the vessel and transported to the offshore location site
Kongsberg Maritime has completed the installation and commissioning of an integrated bridge and automation solution during a large-scale retrofit of the Saipem 7000, an advanced Semi-submersible crane and pipelaying (J-lay) DP3 vessel. The Saipem 7000 retrofit was a ‘Full Picture’ project for Kongsberg Maritime, which featured replacement of several key systems including Automation, Thruster control, Dynamic Positioning, Ballast control and Integrated Bridge System
Singapore-listed Vallianz Holdings has won a contract worth up to US$300 million (S$405.51 million) to supply two self-elevating platforms to a large national oil company in the Middle East. The contract from one of the world’s largest national oil companies involves the supply of two self-elevating platforms which will be used to perform well servicing for offshore platforms and well structures.
Incat Crowther has announced its recent contract with Legacy Marine Group of Port Elizabeth, South Africa for the design of two new 18 meter catamaran dive support vessels to be built for Stapem Offshore for operation in the coastal waters off Angola.
Survitec Group has announced a five-year contract award with Total E&P UK Ltd for the provision of lifesaving equipment maintenance services. The contract, which adds to an existing contract for lifeboat maintenance services
In 2009, the U.S. offshore marine sector received a long over-due indication that the U.S. Customs and Border Patrol (CBP) was preparing to close loopholes and enforce U.S. law in accordance with the Jones Act. This happened when the agency unhesitatingly issued its first revocation of more than
ABS has provided a systematic approach to dropped object management and prevention. The new ABS Guide for Dropped Object Prevention for Offshore Units and Installations includes a program of requirements and best practices to protect assets
Lankhorst Euronete SA is supplying fibre mooring ropes to Global Maritime Consultancy & Engineering for construction of the world’s largest fish farm near the island of Froya, offshore Norway. The new concept fish farm is a pilot facility developed by Ocean Farming
IMCA stands behind its opinion that CBP implementation of its proposal will severely damage business in the US Gulf of Mexico. Quote from Allen Leatt, CEO, The International Marine Contractors Association (IMCA) in response to report at marinelink
Lloyd’s Register invests in ship management software provider Hanseaticsoft in move to build a marine and offshore Industry 4.0 Lloyd’s Register (LR) said it has made a significant investment in Hamburg-based ship management software provider Hanseaticsoft.
Cosco (Dalian) Shipyard, subsidiary of Cosco Shipyard Group, has reached an agreement with Bermuda-based rig owner Northern Offshore to further delay the delivery dates of two jack-up drilling rigs amid challenging offshore drilling market.
Lloyd's Register has won an inspection contract with Bumi Armada Berhad for its Armada Olombendo FPSO. The contract agreement provides Bumi Armada with access to Lloyd’s Register’s risk-based inspection services and technical software which will help to develop quantifiable
Next Geosolutions announced the acquisition of UK-based marine resource solutions company, RMS Submarine Ltd. The acquisition of the companies enables Next Geosolutions to focus on the operations and maintenance market, for both the cables and renewables industries
Leonardo DRS, Inc. has been awarded a contract by Eastern Shipbuilding to provide hybrid electric drive systems for the U.S. Coast Guard’s new fleet of Offshore Patrol Cutters. The contract, for the first nine systems, is worth $10.7 million
Liebherr’s maritime manufacturing plant in Rostock has been awarded the contract to supply the heavy-lift crane for the Orion, a new wind farm installation and platform decommissioning vessel ordered by DEME from COSCO (QiDong) Offshore, a subsidiary of COSCO Shipping Heavy Industry
ABS has issued the ABS Guidance Notes on Geotechnical Performance of Spudcan Foundations, encompassing the results from multiple targeted jackup research initiatives, says a press statement from the company. This document is the industry’s first guidance to present a thorough
Wärtsilä is to supply the engines and other propulsion machinery for a new offshore construction vessel being built at the Cosco shipyard in China. The ship owner is Belgian operator Dredging International (DEME). This will be the first vessel of its kind to be fueled by liquefied
Ampelmann, provider of offshore access to the energy industry, has unveiled its latest walk to work system which has been specially designed for operation in extreme cold conditions. The N-type, nicknamed Icemann, was officially launched in front of 200 guests on Thursday, April 20, in Rotterdam