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Offshore Reports

Diamond Offshore Reports 4Q Results

Deepwater drilling company Diamond Offshore announced fourth quarter and full-year earnings. Results were solid, with revenues and earnings showing big increases on both a quarterly and an annual basis. Compared to the fourth quarter of 2005, revenues rose 57 percent and earnings per share rose 106 percent. Full year figures demonstrated similarly gaudy growth, as revenues rose 68 percent and earnings per share were up an astronomical 168 percent. Source: The Motley Crew


Horizon Offshore Reports Barge Incident

Horizon Offshore said today that one of its vessels, the lay barge Lone Star Horizon, suffered moderate damage due to a fire while at anchor off Ciudad Del Carmen, Mexico. The vessel crew was evacuated and no injuries requiring medical treatment were reported. The Lone Star Horizon had recently completed the KIX pipeline project for PEMEX, and was preparing for demobilization to the U.S. Gulf of Mexico. The fire, which was limited to the generator control room, occurred at about 3:00 p.m


CSO Deep Blue Starts Work in the GOM

Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Alabama. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen


W&T Offshore Reports 2Q Results

Oil and gas explorer W&T Offshore Inc. said its second-quarter profit rose 18 percent on higher revenues from its August 2006 acquisition of Kerr-McGee properties. Net income rose to $45.5 million, or 60 cents per share, from $38.5 million, or 58 cents per share, a year earlier. Revenue rose 64 percent to $272.6 million from $165.8 million. Analysts polled by Thomson Financial expected, on average, earnings of 46 cents per share on revenue of $263.8 million.


Horizon Offshore Reports Third Quarter Earnings

Horizon Offshore, Inc. reported net income for the quarter ended September 30, 2001, of $2.8 million. This compares with net income of $3.7 million, for the third quarter of 2000. For the third quarter of 2001, the company reported gross profit of $7.7 million, or 12.6 percent, on contract revenues of $61.0 million, compared with gross profit of $10.3 million, or 18.2 percent, on contract revenues of $56.3 million in 2000.


CSO Deep Blue Starts Work in the GOM

Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Ala. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen fields


FEATURE: Staking a Claim in GOM and Beyond

Todd Hornbeck, who has quickly yet judiciously built a sizeable marine company at Hornbeck Offshore Services, Inc. in just five years, shares with MarineNews the secrets of his success. by Greg Trauthwein Upon meeting with Todd Hornbeck, President and CEO of Hornbeck Offshore Services, Inc. at the literal epicenter of big oil dollars - the recent Offshore Technology Conference (OTC) in Houston - one is continuously struck with the contrasts of the man and mission


Stolt Offshore Completes Platform Salvage

Stolt Offshore reported it has successfully completed the Eugene Island 275A platform salvage project for Total E&P USA, INC., in what is described as the first platform salvage using only mechanical cutting devices. The platform was located on OCS-G-0988, some 70 miles off the Louisiana coast in 180 ft. of water. "Because of environmental and safety objectives, Total E&P USA asked Stolt to conduct the salvage operation without an arc being struck under water


Offshore Wind: A $16B Business

Offshore wind will see $16 billion of capital expenditure in the coming five year period as 4.5 GW of new capacity is installed, according to The World Offshore Wind Report 2008-2012, published by Douglas-Westwood. With just over 1.1 GW of capacity currently installed, this represents significant market growth and leads to an annual capital expenditure of over $5.2 billion by 2012. In comparison to the previous five year period


European Offshore Wind Faces Make-or-break 2020 -Report

Wind power companies such as Vestas, Siemens and Dong need Europe's installed offshore capacity to more than double and costs to be cut by a fifth within five years to compete with other fuels, an industry report said on Tuesday.   The Ernst & Young report described 2020 as a make-or-break year for the offshore wind power industry, which must install more than 20 gigawatts (GW) of capacity generating electricty for about 100 euros ($107) per megawatt-hour (MWh), against 140 euros now


Pacific Radiance, Allianz JV in Middle East

Photo: Pacific Radiance Group

 Crest Offshore Marine (COM), the wholly owned subsidiary of Pacific Radiance, has entered into a Joint Venture (JV) Agreement  with Allianz Offshore Middle East (AOME).  According to JV agreement, both companies are jointly incorporating a company in Singapore known as Allianz


Solstad CSV Serviced ahead of Australian Deployment

Normand Reach (Photo: Gibdock)

Gibraltar shipyard Gibdock said a surge in offshore vessel repair and maintenance work has included a special project for Norwegian offshore vessel owner and operator Solstad, to ensure that Normand Reach meets the hull cleanliness standards set by Australia’s National Biofouling Management


Angelle Named BSEE Director

Scott Angelle (Photo: BSEE)

 Former Louisiana state official Scott A. Angelle will head-up the U.S. Bureau of Safety and Environmental Enforcement (BSEE). Angelle, who most recently served as Vice Chairman of the Louisiana Public Service Commission, will assume his new position May 23.


Global Maritime Makes Two Hires in Asia Pacific

Mei Ling Chan (Photo: Global Maritime)

Global Maritime, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has made two important hires to support its Asia Pacific (APAC) operations.   Mei Ling Chan has been appointed as Regional Finance Manager for APAC where she will take


ABS Approves Innovative Drillship Design

Photo:  Diamond Offshore Drilling, Inc

 ABS is working with industry to improve efficiencies in offshore development.   “ABS is working on multiple fronts to help the offshore industry find efficiencies and streamline operations,” says ABS Executive Vice President for Global Offshore Ken Richardson. 


DONG Energy Settles Platform Dispute

DONG Energy said it has reached a settlement with Daewoo Shipbuilding & Marine Engineering and Technip over who bears responsibility for construction errors concerning an offshore platform for the idled Hejre field. The settlement clears a major hurdle for the Danish company's plans to


The Shipowners' Club Bounce Back to Black

Image: The Shipowners Club

 The Shipowners’ Club, the leading mutual P&I insurer in the smaller and specialist vessel sector, has reported resilient results for the year ending 31 December 2016.   The Club has reported a combined ratio of 98.6%, an increase in gross tonnage of 0.8m to 25


Energy Island: Europeans Mull North Sea Hub

Image: TenneT

A plan set in motion by three European transmission system operators (TSO) aims to develop mammoth offshore wind farm infrastructure in the North Sea supported by at least one manmade island.   First unveiled in June 2016, plans for the North Sea Wind Power Hub project will now press ahead


New Asset Integrity Management System Launched

(Photo: Bureau Veritas)

Bureau Veritas has launched Veristar AIM 3D asset integrity management system, based on technology partner Dassault Systems’ 3DEXPERIENCE platform.   The new solution combines a digital twin of any marine or offshore assets with smart data in a collaborative environment


Gulf of Mexico is Ground Zero for the Jones Act

(Photo: OMSA)

A vastly modernized U.S. offshore support fleet awaits the opportunity to perform Jones Act work in the U.S. Gulf of Mexico. Foreign operators, already here, predict disaster if a cabotage rule change takes effect.   A change proposed by the US Customs and Border Protection (CBP) in its


UK Chamber Shipping Upbeat after US abandoning Jones Act Amendments

Photo: UK Chamber of Shipping

 US authorities have abandoned plans to tighten Jones Act coastal shipping rules – and it’s all thanks to the coordinated efforts of international government administrations, US energy firms and shipping bodies, in which the UK Chamber played its part.  


Containerized Control Room Delivered for SSCV Thialf

Photo: ELA Container Offshore

ELA Container Offshore GmbH delivered an offshore office container to Heerema Marine Contractors (HMC), a marine contractor in the international offshore oil and gas industry.   The container was placed on board semisubmersible crane vessel (SSCV) Thialf and was used as a control room


Shepherd Joins Bibby Offshore's Renewables Team

Dorothy Shepherd (Photo: Bibby Offshore)

Bibby Offshore, a subsea services provider to the oil and gas industry, has appointed Dorothy Shepherd as general manager, renewables.   Shepherd joins Bibby Offshore with more than 15 years’ experience in the energy industry. Having spent a significant time at The Crown Estate - a


The New Offshore Reality

(Photo: Oyvind Hagen, Statoil)

As a mix of traditional heavyweights and start-ups fight to keep Norway’s offshore industry afloat, collectively they assess   Swedbank’s chief economist, Harald Andreassen, isn’t “too hopeful” about the long-term prospects for the oil price, but then again


Gulf Navigation Sails to Profit

Photo: Gulf Navigation Holding

 Dubai-based shipping company Gulf Navigation Holding  has reported a 39% growth in net profit at the end of the first quarter of 2017 compared to the same period in 2016.    The result came at a stage while the company is witnessing a significant improvement in its






 
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