Deep Sea Supply News

Norwegian offshore vessel owner Solstad Offshore has sold another non-core vessel as part of its plan to trim its fleet and make it more competitive.It said Thursday it had sold the AHTS Sea Ocelot to an unnamed buyer. The 70 meters long vessel, built in 2007, was sold through Solstad's subsidiary Deep Sea Supply Labuan II."Delivery of the vessel to the new owner took place today September 9th, 2021. The sale of the vessel will result in an immaterial accounting effect for Q3 -2021," Solstad offshore said, without sharing the sale price.

Norwegian offshore vessel operator Solstad Offshore said Friday it had sold its AHTS Sea Panther vessel for recycling.The vessel was sold through Solstad Offshore's subsidiary Solstad Rederi, and the delivery to the buyer took place today August 20th, 2021."The sale of the vessel will result in an immaterial accounting effect for Q3 -2021," Solstad Offshore said, without sharing the sale price."Solstad Offshore ASA is considering several vessels for green recycling as a part of our efforts to be in the forefront of sustainable and [environmentally] optimal operations.

Norwegian offshore vessel owner Solstad Offshore has sold three platform supply vessels.The vessels, sold by Solstad's Deep Sea Supply Shipowning AS and Deep Sea Supply Shipowning I AS subsidiaries, are the Sea Angler built in 2007, the Sea Bass built in 2008, and the Sea Turbot, also built in 2008."Delivery of the vessels to the new owner took place today Thursday, February 4th, 2021. The sale of the vessels will result in an immaterial accounting effect for 1Q 2021," Solstad Offshore said.The company did not say who the new owner was nor what the sale price for the PSV trio was.

The new ship owning company Sverre Farstad & Co has taken ownership of a 2016-built platform supply vessel (PSV), marking a return for the Farstad name in the Norwegian offshore sector.Farstad was one of the parties behind the June 2017 three-way merger of Norwegian ship owners Solstad Offshore, Farstad Shipping and Deep Sea Supply. The new company had been called SolstadFarstad, but the Farstad name was dropped in October 2018 when the company changed its name to Solstad Offshore.Now the Farstad family is returning to the offshore support vessel (OSV) business with Blue King…

Following the path of oil prices, consolidation also follows myriad financial crises. What happens next isn’t altogether clear, but the long, deep trough for offshore energy may finally be in our choppy wake.In mid 2017, financial turnaround and financial repairs specialist Alix Partners made a bold statement regarding the beleaguered Offshore Service Vessel (OSV) marketplace. In a July 2017 report, following an analysis of 44 participants in the business, the restructuring team wrote: “The industry faces grave financial pressure…

DESS Aquaculture Shipping AS, a joint venture between Solstad Farstad ASA (SOFF) and Marine Harvest ASA, took delivery of the harvest vessel “Aqua Merdø” on May 24th 2018.    The vessel will commence its 10-year charter contract with Marine Harvest upon delivery at location within few days.   “Aqua Merdø” is developed in close collaboration between the owners and Salt Ship Design and has been built by Myklebust Verft, Norway. Long term financing of “Aqua Merdø” is arranged by ABN AMRO Bank N.V.   “Aqua Merdø” is a harvest vessel with a capacity of handling up to 20,000 fish per hour, and transport up to 400 tons of fish to the processing plant.   DESS Aquaculture Shipping was established in June 2016 as a joint venture between Marine Harvest and Deep Sea Supply.

SolstadFarstad and Yxney Maritime AS have completed a pilot project to develop and roll out the fuel efficiency and emission reduction software MarESS. During the pilot, the combination of MarESS and skilled crews generated significant fuel savings for SolstadFarstad and their clients, leading to the contract for implementation for the entire fleet. “SolstadFarstad’s work with the SolstadFarstad Green Operations campaign is taken to the next level with MarESS,” says Tor Inge Dale, COO in SolstadFarstad. The merger of Solstad Offshore, Farstad Shipping, Deep Sea Supply and REM Offshore created the world’s biggest owner of advanced vessels in the supply, anchor handling, construction and renewable segments, with 147 vessels in total.

Record hauls of wild fish, an unprecedented return on farmed salmon, finance and subsidy garner new orders, new designs and emboldened suppliers. In Scandinavia, particularly Norway, rich, carefully managed fisheries raise just one question for the commercially minded — which wave of business to ride. A growing number of large and small players are in on the action, as historic profits are heralded up and down the supply chain. For the hardened makers of gear that know tougher times, this is the golden age.

Solstad Farstad, which claimed to be the world’s largest OSV firm, has sold a relatively new AHTS vessel Far Shogun, since its formation last month following the mega-merger of three leading OSV companies in Norway. The 2010-built, 23,664-bhp Far Shogun has been delivered to the unnamed new owner on Thursday, Solstad Farstad announced. "Wholly owned subsidiary Farstad Supply AS has sold the AHTS Far Shogun to an undisclosed buyer for an undisclosed price. The delivery of the anchor handling tug and supply vessel Far Shogun to the new owner took place on Thursday, July 13," said the company. Solstad Farstad says the sale of the vessel will result in an immaterial accounting effect for third quarter 2017.

Oslo-listed offshore vessel owner Deep Sea Supply has secured two time charter contract extensions with BP Egypt.   The PSVs Sea Spear and Sea Spark have been awarded a 1 year extension of their charter contracts with start from end of current firm period, in July 2017.   "Deep Sea Supply is pleased to announce an extension of two time charter contracts with BP Egypt," said a statement from the company.   Both vessels started operations for BP Egypt in Egypt in July 2016 on one year firm and one year option contract. Following this extension both vessels are now firm until July 2018.

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, DESSC and Solstad’s relevant subsidiaries, into which Farstad and DESSC will be merged. Deep Sea Supply and Farstad Shipping will merge into and be established as individual subsidiaries under Solstad Offshore, with shareholders of Deep Sea Supply and Farstad Shipping receiving shares in Solstad Offshore as consideration. Each of Solstad, Farstad and DESSC will immediately after this release also issue a separate release which will contain the relevant technical details on the mergers.

Debt-laden Farstad Shipping gets lifeline; billionaires Fredriksen and Roekke join forces. Hit by the oil industry recession, Norwegian offshore service vessel (OSV) operators Farstad Shipping, Deep Sea Supply and Solstad Offshore announced plans to merge on Monday to counter the downturn. Under the deal Farstad is to complete a financial restructuring via a debt-for-equity swap and new share issue, and will then be merged with Deep Sea Supply and Solstad Offshore, controlled by Norwegian billionaires John Fredriksen and Kjell Inge Roekke respectively. With a combined fleet of 154 ships, the new combined company, Solstad Farstad, will be the biggest owner of large vessels in the supply…

Ship Finance International Limited earnings missed the Street expectations for the second quarter. Quarterly charter revenues $159m versus $174m in last quarter. The company reported net income of $38.81 million down from $46.8 million in the year-ago quarter. Ship Finance's total operating revenues dipped from $117.58 million to $103.99 million and came in below the analysts' predictions of $110.43 million. The firm continued fleet renewal with the successful delivery of our third 9,300 - 9,500 TEU newbuilding container vessel on long term charter to Maersk Line and sale of an older VLCC. Ole B. Hjertaker, CEO of Ship Finance Management AS…

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. * CEO says Oct. * Farstad shares down 4.7 pct to 8.9 crowns at 1004 GMT compared to a rise of 0.5 pct in Oslo's benchmark share index.

Kleven has signed a contract with DESS Aqua, a joint venture company established by Marine Harvest Norway and Deep Sea Supply, on the building of a fish harvesting vessel for carrying salmon from fish farms to processing plants. The vessel will be delivered from Myklebust Verft in March 2018, and is of SALT 425 FHV design from Salt Ship Design. The contract also includes an option for a second vessel. “There is impressive research and development work being done in the fish farming industry, and this is absolutely an interesting market for us to be in,” said Ståle Rasmussen, CEO of Kleven.

Ballast water treatment (BWT) specialist Optimarin is continuing its strong start to the year, with the news that its Optimarin Ballast System (OBS) has been selected for nine Sinopacific Shipbuilding Group AHTS vessels. The contract win comes on the back of a recent ten unit order from Atlantis Tankers and the firm’s first foray into the fishing sector, with Fisherman’s Finest’s America’s Finest trawler. The nine AHTS vessels, designed by Sinopacific’s Shanghai Design Associates specialist OSV team, will be operated by ESNAAD, a subsidiary of the Abu Dhabi National Oil Company (ADNOC).

Norwegian companies that provide supply ships and drilling rigs to the global oil industry face a bleak year ahead as contracts disappear and financing options dwindle in the face of weak global crude prices. They could increasingly be forced to sell or write down the value of assets, cut jobs and tap shareholders for cash to weather the downturn, according to industry experts. This would herald more pain for Norway, where the overall oil sector accounts for about a fifth of the economy and unemployment is rising, especially in the oil capital Stavanger and its environs on the west coast. Oil firms like Statoil, which offshore shipping companies rely on for business, have slashed costs and projects to cope with a 60-percent plunge in crude prices since June last year.

Deep Sea Supply, a Cyprus headquartered owner of offshore support vessels, has appointed Jon Are Gummedal as new CEO of the company,  says a statement from the company. Gummedal has worked with Deep Sea Supply since January 2014 as Technical Director with the responsibility of the technical management and crewing of the fleet operating worldwide. He was previously Technical Director at Wilson, responsible for a fleet of 86 vessels. He has more than 13 years experience in the industry, the last 7 in higher management positions. “I am looking forward to continue working to improve our position in the market. We have a strong and motivated team, a modern fleet and a healthy balance sheet that is well prepared to face the current market down turn,” says Jon Are Gummedal.

Zhejiang Shipbuilding in Ningbo, China, delivered Sea Swift, the final of 12 platform supply vessels (PSVs) of the large PX105 design to shipowner Deep Sea Supply PLC on October 23, 2014. The Deep Sea Supply vessels are 88.9 meters long and 19 meters in the beam. The vessels have diesel electric propulsion and can keep up a speed of 15.5 knots. The loading deck area is in excess of 1,000 square meters and the vessels each have a dead weight of 4,700 metric tons. The X-BOW hull line design eliminates slamming from head sea, increases comfort and safety and reduces fuel consumption.

Deep Sea Supply is pleased to announce multiple contract awards with an international major subsea contractor for a total duration of approximately 1000 vessel days. The three PSVs of PX105 design "Sea Spider", "Sea Springer" and "Sea Spark" have been awarded contracts for ten, ten and four months, respectively. The AHTS "Sea Lynx" has been awarded a contract to be performed in two phases; first phase 40 days and second phase 250 days. Commencement is expected to be November 2014 for the three PSVs and phase 1 for "Sea Lynx" and May 2015 for phase 2 for "Sea Lynx". In addition to the firm periods described, the contracts also contain option periods.

The Deep Sea Supply  took delivery of the newbuilding Platform Supply Vessel 'Sea Triumph'  on Thursday 18 September.  The vessels 'Sea Triumph' is a STX 05-L design built at Cochin shipyard in India. Main characteristics of the vessel are; 4.100 dwt, 810 m2 deck area, clean design and diesel electric propulsion.  Following the delivery of 'Sea Triumph', Deep Sea Supply has 15 AHTS vessels and 24 PSVs in operation, in total 39 vessels.  Limassol 18 September 2014  Deep Sea Supply PLC  This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) Source: Deep Sea Supply

‘Sea Surfer’, the 10th of twelve platform supply vessels designed by Ulstein for Seatankers/Deep Sea Supply, was delivered from Zhejiang, China, on 18 July 2014. All twelve vessels carry the PX105 design. The vessels are 88.9 metres long and 19 metres in the beam and equipped with a diesel-electric propulsion system. The cargo deck area is approximately 1,000 m2 and the vessels each have a dead weight of 4,500 tonnes. The deliveries from Ulstein also include an extensive equipment package, all power distribution and electric propulsion systems, bridge and communication systems.

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type, less crude oil (-2%), mineral oil products (-14%) and other liquid bulk cargo (-14%) were transferred. On the positive side, iron ore and scrap (+5%), coal (+15%), agribulk (+69%), other dry bulk cargo (+13%), containers (+1%), roll on/roll off (+9%) and other mixed cargo (+9%) did better. CEO Allard Castelein of the Port of Rotterdam Authority said, “The falling tendency of the second half of 2013 continued initially, but thanks to a strong month in March, the throughput in the first three months nonetheless stayed almost the same.