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Offshore Wins

Bibby Offshore Scoops Two Business Awards

Howard Woodcock (Photo courtesy of Bibby Offshore)

Bibby Offshore, a provider of subsea installation, inspection, repair and maintenance services to the offshore oil and gas industry, has been recognized at the 2014 Northern Star Business Awards winning in the categories Commitment to People Development and Outstanding Contribution to the Energy Sector. The awards were announced September 25 at the AECC. The Commitment to People Development award recognizes the company that has shown the most commitment to developing its staff through skills and personal development, investment and achievement programs and outcomes. The Outstanding Contribution to the Energy Sector award recognizes a company demonstrating an exceptional contribution to the energy industry within the north east of Scotland. Bibby Offshore’s Chief Executive Howard Woodcock said, “We are extremely proud to have won in both categories we were shortlisted for at this year’s Northern Star Business Awards. It is recognition of everyone at Bibby Offshore’s dedication to achieving our goals.” Woodcock continued, “The Commitment to People Development award is excellent recognition of the hard work undertaken by our Competency and Training team, our HR team and the whole business to ensure our greatest asset is properly looked after. One of the company’s key focuses and core values is to ‘realize the talent of our people’


Thai Offshore Supplier Gets Chevron Contract

Singapore's Miclyn Express Offshore's Thai J/V partner, Uniwise Offshore, wins Chevron marine support contract for Gulf of Thailand operations The 3 year firm contract with plus 2 x 1 year extension options is to provide coil tubing marine support services to Chevron`s production activities in the Gulf of Thailand. Uniwise Offshore will purchase a Platform Supply Vessel currently under construction in a Chinese Shipyard, to fulfil the service requirements


Samsung Heavy $630M Orders for Tankers, Offshore Platform

Samsung Heavy Industries Co., South Korea's third-largest shipbuilder, said it has won orders worth a combined $630m for five oil tankers and an offshore. Under the deal with a Norwegian customer, Samsung Heavy will deliver the oil tankers by 2013. Another deal with a U.S. customer calls for the shipbuilder to deliver the offshore facility by 2013. With the deals, Samsung Heavy has won deals valued at $6.1b in 2010. For the year, Samsung Heavy aims at winning $8b worth of orders.


Daewoo Ship, STX Offshore Lead Advances Among Korean Shipyards

According to a Nov. 1 report from Bloomberg, STX Offshore & Shipbuilding Co., the world’s fourth-largest shipyard, led advances among South Korean shipbuilders in Seoul trading on expectations that growing global trade will prompt more orders. STX Offshore gained 8.1 percent to 28,550 won, the highest price since August 2008, at the 3 p.m. close of trade in Seoul. Daewoo Shipbuilding & Marine Engineering Co., the world’s second-largest shipyard, climbed 3


WINS & POSH Form Indonesian Offshore J/V

WINS AHTS Vessel: Photo credit PT Wintermar Offshore

PT Wintermar Offshore Marine Tbk (WINS) joins with PACC Offshore Services Holdings Ltd (POSH) for Indonesian oil and gas joint venture. The joint venture will own and operate two units of Indonesian flagged 100+ tons bollard pull AHTS, “WINPOSH Rampart” and “WINPOSH Resolve”, both of which have been awarded contracts to support drilling activities for a multinational oil and gas company for up to two and half years.


Emas Reels in $32m Contract

Photo: Emas Offshore

 Singapore-listed offshore firm EMAS Offshore Limited wins $32m of new business  has secured new awards and letter of intents for charters amounting to approximately US$32 million, including options.   These new charters will see EMAS Offshore’s Anchor Handling Tug (AHT), Anchor Handling Tug and Supply (AHTS) and Platform Supply (PSV) vessels supporting National Oil companies (NOCs), International Oil companies (IOCs) and other offshore contractors on drilling operations


Report: Hyundai Wins $900m Offshoe Order

According to a report on Yonhap News, Hyundai Heavy Industries won a $900m deal for offshore platforms and other facilities off the coast of Africa. Hyundai Heavy reportedly will build two offshore gas platforms and other facilities by the end of 2014. With the contract, Hyundai Heavy has won orders valued at $19.8 billion thus far this year.  


Korea's STX Offshore Debt to Equity Swap Hastened

STX Offshore & Shipbuilding Co. will issue new shares worth 38.4 billion won (US$36.5 million) as part of its debt-to-equity swap scheme. The shipbuilder will float 15.37 million shares, which will be listed on the main Seoul bourse on Jan. 9, 2014, reports Yonhap News Agency. Yonhap cite Jeong Yu-mi, a spokesperson for STX Offshore & Shipbuilding, as informing that trhe new share issuance is part of the 700 billion won debt-to-equity swap program aimed at stabilizing the company


Daewoo Shipbuilding to Issue New Shares Worth $353 Mln

Daewoo Shipbuilding & Marine Engineering Co Ltd said on Tuesday it will issue new shares worth 414 billion won ($353.1 million) to improve its financial position.   Daewoo Shipbuilding, the world's largest shipbuilder in orderbook by tonnage, is set to report its biggest yearly operating loss this year after a loss of $2.6 billion in the second quarter due to construction delays on offshore projects.   ($1 = 1,172.5100 won)


Hyundai Heavy Sails Back to Profit in Q1

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) has posted a net profit of KRW462.3bn ($409.6m) for the first quarter of 2017, making it the fifth consecutive quarterly profit for the group.   This represents a surge of 90% from the previous corresponding quarter. However, sales fell 1.9 percent to 10.76 trillion won.   HHI mainly attributes the whooping quarterly operating profit increase to 127.1 billion won operating profits from HHI’s Shipbuilding Division which is 251% up from


Private Equity Boost for Hyundai Samho

South Korea’s Hyundai Samho Heavy Industries (HSHI), a shipbuilding affiliate of Hyundai Heavy Industries (HHI), said it has attracted 300 billion ($264 million) won investment via pre-IPO.   Under the agreement signed with Korean private equity firm IMM Private Equity


Hyundai Heavy's New Orders Tallied at USD 2.3 bln

Photo: Hyundai Heavy Industries

 Hyundai Heavy Industries (HHI) Group, the world’s largest shipbuilding group, announced today that it won 39 ships worth $2.3 billion for January – April period, which is the largest ship orders for the comparable period in three years. 


Daewoo Shipbuilding books first Quarterly Profit in 4 years

File Image (CREDIT: AdobeStock / (c) Burnel11)

South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd posted its first quarterly profit in more than four years on Thursday, as on-time delivery of higher-margin vessels as well as cost-cutting measures helped the bottom line.  


DSME Turns Profit in Q1

Photo: Daewoo Shipbuilding & Marine Engineering

 Daewoo Shipbuilding & Marine Engineering (DSME) swung to the black in the first quarter of the year from a year earlier, largely thanks to cost-cutting measures, reports Yonhap.   The Korean shipyard reported an operating profit of 292 billion won ($257


Norway's Solstad Offshore, Farstad Shipping and Deep Sea Supply Agree Merger

Photo: Solstad Offshore ASA

 Norwegian OSV companies Solstad Offshore, Farstad Shipping and Deep Sea Supply have signed off on merger plans first announced on February 6, 2017.   The statutory merger plans have been approved and signed by the boards of Solstad, Farstad


Korean Shipyards Cut Costs to Boost Profit

Photo: Hyundai Heavy Industries

 South Korea's Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) said that they will strive to boost their profitability via increased orders and continued cost-cutting measures, reports Yonhap.   According to Park Dae-young, president of SHI


Offshore Supply Vessel Market to Grow 6% by 2021

Photo: BOURBON

The global offshore supply vessel market is forecasted to grow at a CAGR of 6.03 percent during 2016 – 2021, according to Azoth Analytics research report.   The growth in offshore supply vessels is expectect to be driven by rise in demand for oil and gas globally


Daewoo to Deliver Two More LNG Tankers in 2017

South Korea's Daewoo Shipbuilding expects to deliver two more ice-class tankers to lift liquefied natural gas (LNG) from Russia's Yamal LNG project this year, a company spokesman said on Monday. Daewoo Shipbuilding & Marine Engineering (DSME)


Vittoria Shipyard Enters International Tug Market

Photo courtesy of Vittoria Shipyard

Vittoria Shipyard, which is one of Italy’s main constructors of military and commercial boats, has laid down the challenge to the international tug market with orders from the Russian and Algerian governments for a total value of 15 million Euros.  


LR to Perform Armada Olombendo FPSO Risk Inspection

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


Liebherr Offshore Cranes Accessing New Markets

Design layout of the new Liebherr HLC 295000 mounted on Deme’s next generation offshore installation vessel Orion. (Image: Liebherr)

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


DSME's Bailout Plan Cleared by Pension Fund

Photo: DSME

 South Korea’s National Pension Service (NPS) agreed to a restructuring of bonds issued by Daewoo Shipbuilding & Marine Engineering (DSME).    Reuters reported that this move is expected to help the world’s largest shipbuilder tide over a financial crisis


Daewoo Shipbuilding Bondholders Okay Bailout Plan

File Image (CREDIT: AdobeStock / (c) Carabay)

Debt-to-equity swap plan is condition of $2.6 bln bailout.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Monday won near unanimous approval for a debt-to-equity swap plan in the first three of five bondholder meetings


Daewoo Shipbuilding unlocks $2.6 bln Bailout

File Image (CREDIT: AdobeStock / (c) Carabay)

Bondholders at final meetings agree to debt-to-equity swap; shipbuilder needs about $400 mln in operating funds by April-end.   South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity


WIN WIN: Wind Powered Oil Recovery Concept Progresses

The WIN WIN Concept. (Image: DNV GL)

The DNV GL-led joint industry project, WIN WIN (WINd powered Water INjection), has completed its first phase and determined that wind power could be used to power offshore water injection. The project is currently moving into its second phase






 
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