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Blue Ocean News

15 Feb 2024

Is Stern Tube Damage Declining?

Shaft removal during stern tube repair procedures courtesy of Marine and Industrial Transmissions.
Photo courtesy Marine and Industrial Transmissions

It might be easy to blame EALs, but the ongoing causes of stern tube damage are varied, and possibly declining.Environmentally Acceptable lubricants (EALs) gained market traction with the introduction of US VGP regulations in 2013. Since then, DNV has observed two major trends. The first, starting in 2013 was early life damage, either during sea trials or within the first five years of operation, where aft stern tube bearings typically failed under extreme load conditions. Then from around 2018…

04 Dec 2023

Thordon Bearings and Wärtsilä Promote Stern Tube-Less Ship Concept

Source: Thordon Bearings

Thordon Bearings and Wärtsilä have announced the formation of the Blue Ocean Alliance to develop and promote a stern tube-less ship concept.The Blue Ocean Alliance brings together Thordon Bearings, Wärtsilä, the School of Naval Architecture & Marine Engineering of the National Technical University of Athens (NTUA), naval architect SDARI (Shanghai Merchant Ship Design & Research Institute CSSC) and ABS.The companies say that the concept of a ship design that does not require a…

21 Nov 2023

Accelerating US CTV Market Development with Hybrid Solutions

© twixter / Adobe Stock

As the world looks to renewable energy sources to combat climate change and reduce reliance on fossil fuels, offshore wind has emerged as a promising frontier in the United States. A report by the University of California Berkeley released in August concluded that due to the nation’s long coastlines with sustained winds in many areas and falling turbine costs, offshore wind could feasibly supply between 10% and 25% of the country’s energy demand by 2050.While that may paint a rosy picture of a cleaner…

15 Aug 2023

Blue Ocean Transfers: A New Jones Act CTV Player Emerges

(Image: Blue Ocean Transfers)

There's a new player in the Jones Act crew transfer vessel (CTV) market: Blue Ocean Transfers (BOT), based on Long Island, N.Y.The McQuilling-Partners-owned company is planning to build a fleet of CTVs to support the U.S. offshore wind industry as it ramps up to meet the Biden administration's goal of 30 gigawatts (GW) of offshore wind by 2030. "BOT is a marine logistics equipment manager, whose equipment is chartered and deployed by wind field developers and their suppliers," the company said in a statement.

06 Jun 2023

Arctic Ocean Could Be Ice-free In Summer By 2030s, Scientists Say

© Danita Delimont / Adobe Stock

The Arctic Ocean could be ice-free in summer by the 2030s, even if we do a good job of reducing emissions between now and then. That’s the worrying conclusion of a new study in Nature Communications.Predictions of an ice-free Arctic Ocean have a long and complicated history, and the 2030s is sooner than most scientists had thought possible (though it is later than some had wrongly forecast). What we know for sure is the disappearance of sea ice at the top of the world would not only be an emblematic sign of climate breakdown…

10 Apr 2023

A Proposal for a Small Change in Lloyds Open Form

Beached Schooner. No Cure No Pay offered and signed. Schooner refloated within two hours. All costs and award settled in three days.  Photos courtesy Rik van Hemmen

In February Gard published the results of its review of Lloyds Open Form (LOF). Their review indicated a disturbing reduction in the number of LOF contracts, and noted some other concerns with regard to loss of use of LOF in salvage situations.Lloyds Open Form is a classic and, in my mind, cherished, example of the core beauty of maritime. It combines a large number of maritime concepts into a simple device that solves a complex problem.It reminds me of a few of the lines in the song “Wooden Ships” by Crosby, Still, Nash and Young.

24 Feb 2023

Crane for US-built WTIV Charybdis Heads to Texas

(Photo: Huisman)

The crane for the first ever U.S.-built wind turbine installation vessel (WTIV) is on its way to America.The 2,200mt Huisman leg encircling crane has been loaded onto BigLift Shipping's Happy Star for shipment to the Keppel AmFELS shipyard in Brownsville, Texas, where it will be installed on Charybdis, a WTIV being built for Blue Ocean Energy Marine, a Dominion Energy company. The heavy lift ship recently left China, according to AIS ship tracking data.Once delivered, Huisman North America…

22 Feb 2022

Seajacks Opens Operational Base in Virginia Beach

A Seajacks' jack-up unit ©Seajacks (file image)

Offshore wind installation services company Seajacks UK, as of recently a subsidiary of Eneti, has established an operational base in the City of Virginia Beach, Va.Seajacks has been providing Blue Ocean Energy Marine, a Dominion Energy-owned company, with support services relating to the construction and operation of the first Jones Act compliant offshore wind turbine installation vessel, Charybdis, seen as a key vessel for the development of the U.S. offshore wind industry.The…

18 Feb 2022

Interview: Inside Cadeler X-Class WTIVs with CEO Mikkel Gleerup

Photo courtesy Cadeler

Cadeler CEO Mikkel Gleerup shares insights on the path ahead for his company in the fast-growing offshore wind sector, with details on Cadeler’s new X-Class Wind Turbine Installation Vessels.The last two years were big year for your company, with a name change from Swire Blue Ocean and IPO at the end of 2020 and a rebranding through 2021. What was the rationale for these moves?We rebranded from Swire Blue Ocean to Cadeler end of 2020 to demonstrate that this was a separation from Swire.

07 Jul 2021

Maritime Security Conference Kicks Off in Ghana

(Photo courtesy Paramount Group)

Africa's largest annual maritime security conference kicked off in Ghana this week amid a sharp rise in piracy and armed robberies in the Gulf of Guinea over the last 12+ months.Hosted by the Ghanaian Navy and Air Force in Accra from July 6-8, the International Maritime Defense Exhibition and Conference (IMDEC 2021) has brought together several West African Chiefs of Naval Staff and government leaders such as the Vice President of Ghana, Alhaji Mahamudu Bawumia, alongside experts…

10 Mar 2021

Siemens Gamesa Picks Cadeler to Transport and Install Giant 14MW Offshore Wind Turbines

Image: Siemens Gamesa

Offshore wind installation company Cadeler said Wednesday it had won the largest contract in its history.Cadeler, previously known as Swire Blue Ocean, said that offshore wind turbine maker Siemens Gamesa had awarded Cadeler a contract of valued at around $90 million, with an additional $30 million in options, to transport and install giant SG 14-222 DD offshore wind turbines.The turbines are expected to be the largest wind turbines in the world at the time of installation and have an individual capacity of 14 MW.

15 Jan 2021

Cadeler's 'Wind Orca' to Sport New Crane for Largest Offshore Wind Turbines of the Future

Credit: Cadeler

Offshore wind turbine installation company Cadeler, until recently known as Swire Blue Ocean, has ordered a new crane for its Wind Orca vessel, to prepare it for the giant offshore wind turbines of the future.The company has signed a contract with National Oilwell Varco to install a new crane on the wind turbine installation vessel Wind Orca and retains the option for delivery of a crane on vessel Wind Osprey.The new crane will have a lifting capacity of 1600 metric tons at a radius of 40 meters, with the main hook at a height of 159.7 meters above the main deck.

17 Dec 2020

Investor EnTrust Global Turns Sights to Green Shipping Assets

© Mariusz / Adobe Stock

U.S. investment company EnTrust Global, already a player in shipping finance, aims to buy ships that generate lower emissions, an executive said, the latest sign of efforts in the shipping industry to go green.Global shipping accounts for nearly 3% of the world’s CO2 emissions, putting the industry under pressure to clean up. About 90% of world trade is transported by sea.New York-based EnTrust, which has $18.9 billion in assets, lends to the shipping sector through its Blue Ocean Funds.

09 Dec 2020

EnTrust Raises $2.1 Bln for Its Blue Ocean Funds

© AytugAskin / Adobe Stock

Alternative asset management firm EnTrust Global said Wednesday that it has completed fundraising for its EnTrust Global Blue Ocean Funds for investment in the global maritime industry. The Funds closed at $2.1 billion after raising $925 million since April of 2020.Part of EnTrust Global’s private debt and real asset division, the Blue Ocean Funds engage in direct lending and similar financing opportunities to vessel owners and operators and other maritime businesses.“We continue to see strong demand for our debt capital solutions from clients around the world…

08 Oct 2020

Danish Offshore Wind Installation Firm Set for Oslo IPO. Picks New Name

Illustration of SBO's new OWF installation vessel

Danish offshore wind turbine transportation and installation company Swire Blue Ocean (SBO) is getting ready for listing on the Oslo Stock Exchange, to position the company for the next phase of its growth.Also, Swire Blue Ocean, as a subsidiary of Swire Pacific Offshore, will be rebranded and renamed Cadeler. The company said the new name would reflect the company’s Scandinavian maritime heritage "and its commitment to excellence in maritime operations."In connection with the Mikkel Gleerup…

25 Aug 2020

Market Report: Global Heavy Lift Vessel Sector

Source: Saipem

The global heavy lift vessel market is a difficult place to be. Utilization for the fleet has remained depressingly low since the first oil and gas downturn in 2014, currently hovering around 33% for the global fleet with a lift capacity of over 800 tonnes, according to IHS Markit’s ConstructionVesselBase. Fixed platform installation work, the traditional market driver for the heavy-lift fleet in oil and gas, has seen demand fall significantly. According to global figures from IHS Markit’s FieldsBase, 190 fixed platforms were installed in both 2013 and 2014, rising to 219 in 2015.

05 Jun 2020

Pacific Osprey's Extended Crane Boom Operational

Image Credit: Swire Blue Ocean

Offshore wind farm installation firm Swire Blue Ocean (SBO) has said that its Pacific Osprey jack-up is officially returning to operations with an extended crane boom designed to install the latest generation of wind turbines. "With this upgrade, Pacific Osprey ranks among the most sophisticated windfarm installation vessels on the market, offering high-end solutions for even the most ambitious offshore wind projects," Swire Blue Ocean said.“It is an amazing time for all of us in the company and in offshore wind.

11 Mar 2020

Damen Launches Support Vessel Blue Ocean

Dutch shipbuilding major Damen Shipyards Group launched its new 55-meter support yacht named Blue Ocean in its yard at Antalya, Turkey and will soon be ready for delivery.The new vessel is the eighth launch from the 55m YS 5009 (182 ft) range and will be available for delivery in spring 2020.The launch of Blue Ocean highlights the multipurpose role of Yacht Support vessels. She is the first Yacht Support built with a large multipurpose Main Deck hangar, which can be used for submersible and dive operations, or as a vehicle garage or workshop.According to a statement, like previous deliveries, Blue Ocean is configured for a blend of adventure and superyacht support functions…

23 Dec 2019

MOL Secures Green Loan for LNGBV

Japanese shipping giant Mitsui O.S.K. Lines has signed its first green loan, which it plans to use to partially finance the construction of the world's largest liquefied natural gas bunkering vessel (LNGBV).The 18,600 cubic meters (cbm) LNGBV for Total will be owned and operated by MOL. Last year, Total and MOLsigned a long-term charter contract for a pioneer LNG bunker vessel.The loan is provided by BNP Paribas (BNPP) and the Export-Import Bank of China (CEXIM), with both banks acting as Mandated Lead Arrangers and BNPP acting as Sole Green Structuring Advisor. MOL obtained a second party opinion in respect of the loan from a third-party institute.Green Loans are used to raise funds for businesses aimed at protecting and improving the environment.

01 Aug 2019

ION, iSEISMIC Join on Seabed Tech

ION Geophysical and iSEISMIC have signed a memorandum of understanding to collaborate on seabed acquisition technologies.iSEISMIC, an ocean bottom seismic (OBS) acquisition specialist,  plans to utilize the full suite of ION’s next generation 4Sea ocean bottom acquisition and imaging technology to deliver a step-change in the safety, efficiency, quality and turnaround time of seabed surveys. According to a press statement from ION, the provider of acquisition equipment, software, planning and seismic processing services, and seismic data libraries to the global oil & gas industry: "This agreement will enable ION to commercialize its…

24 May 2019

Danaos Signs Sale-and-Leaseback Deal with EnTrust

The provider of seaborne transportation services, Danaos Corporation has concluded a $150m sale-and-leaseback deal for two of its biggest boxships with the alternative investment firm EnTrust Global.Watson Farley & Williams (WFW) has advised EnTrust Global’s (ETG) Blue Ocean Funds on the transaction of the two container vessels “HYUNDAI RESPECT” and “HYUNDAI HONOUR” acquired from and chartered back to two subsidiaries of Danaos, said a press release.This is the Blue Ocean Funds’ first sale and leaseback in the Greek shipping market, with the US$150m made available to Danaos, a NYSE-listed global shipping company maintaining a fleet of large size container vessels…

23 Apr 2019

World Navy Report: Peru

The Peruvian navy maritime patrol boat BAP Ferre (PM 211) arrives at Joint Base Pearl Harbor-Hickam in preparation for Rim of the Pacific (RIMPAC) exercise. (U.S. Navy photo by Mass Communication Specialist 1st Class Holly L. Herline)

Navies operate on a spectrum between deterrence and defense, to include offensive operation, support of foreign policy, and power projection to civil affair and humanitarian assistance and disaster response. Many have constabulary responsibilities, and it could be argued that, with the exception of the largest navies, most are more like a coast guard than a military force in their normal responsibilities.Every Navy is different. Yes, they all share similar challenges of acquisition…

19 Apr 2019

Oil Spill Dispersant Market to Reach $23.6bln by 2026

The global Oil Spill Dispersant Market is anticipated to grow at a constant CAGR around 3% during the forecast period 2019 to 2026 and reach the market value around USD 23.6 billion.The growth of the market for oil spillers depends directly on the frequency, the time and volume of petroleum spill events, said a market report by Acumen Research and Consulting.Oil pollution is a common term for seawater, land water or land contamination due to oil release due to an accident or human error. Oil contamination is spread throughout the world and is boiled both onshore and offshore. The number of major oil spills annually decreases since the last ten years, but very frequent small oil spills are mainly driving the market for petroleum spills.