Bourbon, Tanjung Discussing OSV Part Ownership Deal
Malaysian Group Tanjung Offshore Berhard and Bourbon Far East Pte. Ltd. have entered exclusive discussions for the sale of 51% ownership of nine Bourbon Offshore Supply Vessels (OSVs) operating in Malaysia. In parallel, Tanjung has invited Bourbon to become a shareholder in their company. Both parties are actively reviewing the proposed transaction and a final decision will be made within the coming months. bourbon-online.com
“You see that ship. That’s our ship,” says Karsten Saevik, as he directs our attention to the virtual image of one of his platform supply vessels on a computer screen in a darkened room. Saevik is one of four shipping bosses whose crew skills needs will be met at the new Faasnavaag Ocean Academy. We arrive five days from its opening, and with the drywall still drying, we look move closer to a giant white sphere indicating a bridge simulator in the wide-open reception. “Definitely, this is our human capital development center for marine skills,” said Saevik.
Ulstein’s X-BOW Turns 10
When times are tough, it is still possible to nurture and grow good ideas, says Ulstein, an provider of ship design, shipbuilding and system solutions for ships. That’s the story behind the ULSTEIN X-BOW hull line design, which upon its introduction 10 years ago turned the image of the ship’s bow upside down. Now in its 10th year, the 100th X-BOW shipbuilding contract was signed, and the X-BOW’s derivative, the X-STERN – a similar solution for the ship’s stern – has been contracted on its first two vessels.
Bourbon Posts Weak First Half Results
Bourbon published its first half results for 2014, recording adjusted revenues up 8.9% at constant rates, reflecting an increase in the size of the fleet, despite a lower utilization rate (adjusted revenues increased 1.5% at current rates). Adjusted EBITDAR as a percentage of adjusted revenues, remained at a stable level of 34.4% following good cost control over the period, while adjusted EBIT decreased more than 50% largely due to €41.8 million increase in bareboat charter costs year on year, not fully offset by capital gains.
Oceaneering Exercise Charter Options on DP2 CSV
Oceanteam Shipping ASA says that Oceaneering International, Inc. has exercised both one year options on the CSV 'Bourbon Oceanteam 101' up to February 2017. The vessel will continue its field support services for work offshore Angola on blocks 18 and 31. Upon delivery in December 2007, this DP2 Construction Support Vessel has been operating as a field support vessel with BP Angola for the company's Greater Plutonium Field development (in Block 18). The first of the standard design North Ocean 100 series is jointly owned by Oceanteam Shipping and Bourbon Offshore Norway.
First Order Received by Damen Ship Repair Brest
On Wednesday, April 11, 2012, Director André Hollander and Sales Manager Theo Kloosterman proudly announced the first ship repair order of Damen Ship Repair Brest (France) by sounding the bell in the traditional way. It is the first vessel booked under the new management and comes in the second week after the acquisition of the former Sobrena Yard in Brest by the Damen Shipyards Group. The order was granted by the French offshore and subsea service provider Bourbon Offshore Surf…
Oceanteam CSV Charter Extended to 2018 by Fugro
Oceanteam Shipping ASA (OTS) confirm the extension of the bareboat charter of their 'CSV Southern Ocean' by Fugro TS Marine Australia until the end of 2018. CSV Southern Ocean is a large construction support vessel jointly owned between Bourbon Offshore Norway AS and Oceanteam Shipping ASA. The owners say that the extension of the bareboat charter will further strenghten their contract backlog and secure future earnings. The original charter was set to expire at the end of 2015. The commercial terms between the parties remain confidential.
Grandweld Delivers Third of Six Hybrid Seismic Support Vessels
Grandweld Shipyards has completed the delivery of Bourbon Gannet, the third Hybrid Seismic Support Vessel in a series of six for Bourbon Offshore. The vessel was handed over in a delivery ceremony held on Saturday November 23, 2013 at Grandweld facilities at Dubai Maritime City. The 54-meter , 50 tons bollard pull vessel will be operated by CGG to assist in seismic operations such as chasing, towing, storage and transport of offshore supplies and crew. Bourbon Petrel and Bourbon Fulmar, sister vessels of Bourbon Gannet and previously delivered by Grandweld as part of the same newbuild contract with Bourbon, are fully operational and already in service and are operating in Europe.
Arctic Oil: Bourbon to Enter Arctic Market in 2016
Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor Handling Tug Supply) was specially designed for operations in polar waters, and more specifically in arctic zones, where we know that there is a huge potential for development, and the new vessel is the signal that the company is adjusting its range of services to meet the requirements of clients and the changing offshore market.
GPA Completes 254L AHTS Series Delivery with 54th Hull
Earlier this year, Naval Architecture and Marine Engineering firm Guido Perla & Associates, Inc. (GPA) completed a major milestone with the delivery of the final of 54 GPA 254L AHTS vessels, also known as the Bourbon Liberty 200 series, at Zhejiang Shipyard in China. In 2006, BOURBON Offshore placed an order with GPA for the Basic Design and Contract/Regulatory Package for 26 of these identical vessels. In 2007, the order was expanded by an additional 28 vessels. Designed and tailored specifically to BOURBON’s requirements…
Offshore: Ulstein and the First U.S. Built X-Bow
Veteran Norwegian designer and builder Ulstein will, for the first time, build one of its signature X-Bow hull designs in the U.S., Maritime Reporter has learned. Edison Chouest Offshore’s LaShip shipyard in Louisiana is keen to build, and has found a Norwegian partner to share the risk. Judging by ever-evolving Ulstein business models and Jones Act strictures, Ulstein’s U.S. foray could lead to series production of the SX 165 offshore construction vessel. The U.S.-built combined light well-intervention and inspection, maintenance and repair vessel will be the second of the type.
Rig Moves: Mobilized for Performance
The operation of an oil field involves moving rigs or jackups in a maneuver referred to as a rig move. These complex operations require experience and the coordination of all stakeholders. Explanation by Pål-André Malø, superintendent for new construction, and former AHTS captain (Anchor Handling Tugs Supply) with Bourbon Offshore Norway. "Generally speaking, this operation mobilizes between 3 and 4 vessels tasked with pulling the anchors of the rig to position it. Most of the time, there are 8 anchors - sometimes 10 or 12 - weighing 6 to 20 tons each," Pål-André explains.
Southern Ocean Bags New Contract
The construction support vessel Southern Ocean, owned by a joint venture between Bourbon Offshore Norway and Oceanteam, has secured a new contract in the APAC region. "CSV Southern Ocean secures a new contract and will start operations by mid of February 2018 for a firm period of 30 days and options to extend with 60 days. The Construction Support Vessel has been assigned to multiple smaller projects within the APAC region," said a statement. The contract is the result of the…
Diesel-Electric Propulsion for Offshore
Long reserved for specialized applications such as icebreakers, diesel electric has enjoyed a rapid growth for marine propulsion in the past decade. Throughout that period, Cummins Marine has been a leader, supplying more than 900 diesel electric packages since delivering its first genset 2003. Early adopters of this flexible propulsion technology included the US firm Rigdon Marine with twenty vessels and France-based Bourbon Offshore with over 100 vessels. In late 2011 Aries Marine built two STX-designed Tiger Shark Class PSVs.
The OPC Race
Vigor Shipyard’s unique entry into the ongoing U.S. Coast Guard Offshore Patrol Cutter Competition turns heads now, but ultimately may change how we look at Homeland Security on the water – for good. The U.S. Coast Guard’s well-publicized, although clearly flawed recapitalization campaign is alive and well. Spurred by the need to replace as many as 25 medium endurance cutters, the nation’s primary homeland security provider on the water has domestic shipbuilders queuing up to design and build its next generation vessel – the so-called offshore patrol cutter (OPC).
China Shipyard Delivers PSV to Bourbon Offshore
Ulstein-designed PX105 Platform Supply Vessel (PSV) delivered. The PSV Bourbon Calm has been delivered to Bourbon from China's Zhejiang Shipyard, the third in a series of four such vessels built to Ulstein's PX105 design for Bourbon Offshore. Bourbon Calm has a length of 88.8 metres, a width of 19 metres, deadweight 4,290 tons and a maximum speed of 15.5 knots. The ship is equipped to carry a permanent crew of 25. The new vessel's cargo system has been designed to ensure safe and efficient loading and discharging offshore…
ULSTEIN Sells 100th X-BOW Design
With the latest contract for two offshore wind service vessels for Bernhard Schulte/WINDEA Offshore, ULSTEIN has achieved 100 sales of the X-BOW hull line design. The milestone was achieved 10 years after the launch of the X-BOW design in 2005. Following the sales to Bourbon Offshore Norway of the second and third ship designs featuring X-BOW, Group CEO Gunvor Ulstein was asked by the media whether the hull design was now a success. "Come back when we've sold 100," Gunvor said in reply. "We can now see that X-BOW has been a huge success in the more recent history of ULSTEIN.
Bourbon in Red Ink
French offshore vessel provider Bourbon Offshore recorded a bigger loss of EUR 576.3 million for 2017 in 2017 when compared to EUR 279.6 million for 2016 dragged down by lower revenues and vessel impairments amid a third year of cyclical downturn. "Bourbon s teams carried off a solid operating performance in 2017 thanks to their focus on security, cost control initiatives and the fleet's technical reliability. Performance in terms of free cash flow generation is equally sound in the crisis environment that has faced all oil & gas industry players for the past three years…
Ulstein’s X-BOW Turns 10
While new designs often grab headlines, mature designs that have enjoyed success are perhaps better indicators of true progress in marine technology. When the Ultstein X-Bow made its debut 10 years ago, some scoffed at the unusual design characteristics. They laugh no more, as the Ultstein X-Bow hull line design turns 10. Now in its tenth year, the 100th X-BOW shipbuilding contract was signed, and the X-BOW’s derivative, the X-STERN – a similar solution for the ship’s stern – has been contracted on its first two vessels.
Rolls-Royce Engines, Equipment for Bourbon
Rolls-Royce is to deliver deck machinery and engines to an arctic Anchor Handling Tug Supply vessel (AHTS) to be built by Vard for Bourbon Offshore Norway. The contract has a value in excess of £17 million for Rolls-Royce. The deck machinery delivery from Rolls-Royce will consist of anchor handling winches, secondary winches, auxiliary winches, anchor handling cranes and a wide range of safer deck operation equipment. The engine delivery consists of two main engines and three main generator engines. AHTS vessels are built to handle anchors for oil rigs and perform rig moves.
Offshore Service Vessels Design Innovation
It could be argued that no other sector of the maritime market has experienced a design innovation revolution quite like the Offshore Service Vessel (OSV) market. Driven by demands to supply people, gear and goods to offshore installations that are increasingly further from shore in deeper waters, today’s OSV is a far cry from those built only a decade ago. Maritime Reporter examines some of the recent innovations in design and function. Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation.
Oil Recovered from Sunken Ship Thorco Cloud
More than 440 tons of heavy fuel oil was extracted from the tanks of the sunken general cargo vessel Thorco Cloud. The wreck lies in two sections 1,730 meters apart and 70 meters down in the middle of the eastbound traffic lane of the Singapore Strait following a collision in December 2015. The heavy oil in the fuel tanks and in trapped compartments was seen as a major pollution hazard. Both the bow and stern sections contained fuel tanks that required emptying, so the Thorco Cloud’s owner…
Fuel Talk: Greener Ships 'Abandoned'
In the immortal words of one Kermit the Frog, “it’s not easy being green.” Nor inexpensive. Offshore ship owners managing the demand “fallout” of the past year and navigating myriad environmental strictures say their leap of faith toward greener fuels has taken its toll. The idealism of a decade ago has eroded, they say, in the face of lost offshore business, especially long-term contracts. Oil company clients that once insisted on high-spec, “green” vessels haven’t renewed contracts for those ships.