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24 Mar 2024

Esgian Week 12 Report: New Finds in Guyana, China and Norway

© bomboman / Adobe Stock

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

03 Mar 2024

Esgian Week 9 Report: Dolphin, Diamond and Seadrill Updates

© AndSus / Adobe Stock

Esgian reports rig-related updates from Dolphin Drilling, Diamond Offshore, and Seadrill in its Week 9 Rig Analytics Market Roundup.Report Outline:ContractsDespite Tullow Oil’s recent announcement that it would take a break from drilling offshore Ghana, Noble Corp. has stated that there has been no contract termination announcement and that its 12,000-ft drillship Noble Venturer is currently still contracted to Tullow into March 2025.Masirah Oil Ltd has signed a rig contract with…

21 Dec 2023

Valaris Takes Delivery of Two New Drillships

Credit: Valaris

Offshore drilling company Valaris has taken delivery of newbuild drillships VALARIS DS-13 and DS-14 for an aggregate purchase price of approximately $337 million.VALARIS DS-13 and DS-14 will be mobilized from South Korea to Las Palmas in Spain, where the rigs will be stacked until they are contracted for work.The purchase of the rigs is expected to increase the company’s fourth quarter 2023 capital expenditures by approximately $355 million, representing the purchase price for the rigs and costs associated with preparing the rigs to mobilize from South Korea to Las Palmas…

05 Dec 2023

Drilling Roundup: New Contracts and New Carbon Storage Activity

West Vela courtesy of Seadrill

Esgian has published its Week 48 Rig Market Roundup highlighting that new contract awards were revealed for a Velesto Drilling jackup, two Seadrill drillships and a Dolphin Drilling semisub. Meanwhile, Wintershall Dea is planning to drill a new carbon storage well in Norway.ContractsMalaysia’s Velesto Drilling has agreed on an extension of a contract with Carigali Hess Operating Company for another year and six months.Seadrill has secured a short-term contract for 12,000ft drillship West Vela in the US Gulf of Mexico with QuarterNorth Energy…

27 Jul 2023

US Invests Nearly $10 Million to Advance Marine Energy

Source: Oneka Technologies

The U.S. Department of Energy (DOE) has announced nearly $10 million for seven projects that will accelerate development and testing of marine energy technologies. These investments advance research on wave-powered technology for use in seawater desalination and support a feasibility study for a potential ocean current test facility. “Marine energy technologies have incredible potential to provide clean electricity as well as clean water,” said Alejandro Moreno, Acting Assistant Secretary for Energy Efficiency and Renewable Energy.

25 Jul 2023

Schottel to Provide Full Propulsion Packages for Edda Wind's New CSOVs

Credit: Schottel

Marine propulsion specialist Schottel will equip four Commissioning Service Operation Vessels (CSOVs) being built by the Norwegian VARD Group with full propulsion packages.The package per vessel consists of two SCHOTTEL Dynamic RudderPropellers type SRP 460 D, one SCHOTTEL Retractable RudderPropeller type SRP 380 R, and two SCHOTTEL TransverseThrusters type STT 5. The vessels are being built for Norwegian offshore wind vessel owner Edda Wind.“Being part of the Edda Wind fleet fills us with great pride,” says SCHOTTEL CEO Stefan Kaul.

16 Mar 2023

Deteriorated Bollard Caused Drillship Breakaway and Collision

​VALARIS DS-16 after the casualty. (Photo: US Coast Guard)

A deteriorated bollard led to a Valaris drillship breaking away and colliding with a bulk carrier in Pascagoula, Miss. last year, the National Transportation Safety Board (NTSB) said Thursday.On March 12, 2022, the mobile offshore drilling unit Valaris DS-16 was in the process of being reactivated at the ST Engineering Halter Marine and Offshore Shipyard (STEHMO) when it broke away from the dock in strong winds, drifted across the Bayou Casotte channel and collided with the bulk carrier Akti.

16 Aug 2022

Robert Allan Ltd Designs ATB Convoys for Aliança Navegação e Logística

Canadian naval architecture and marine engineering firm Robert Allan Ltd. said it has been awarded a contract by Rio Maguari Shipyard (Estaleiro Rio Maguari – ERM), located in Belém, Brazil, to develop the design package for an innovative Articulated Tug and Barge (ATB) for shipping containers along the coast of Brazil. These two ATB convoys will be owned and operated by Aliança Navegação e Logística (ANL), a major logistics services provider in Latin America, and part of the Maersk Group.Robert Allan Ltd.’s engineering team…

14 Mar 2022

Update: Valaris Drillship Collides with Bulk Carrier in Pascagoula, Mississippi

A drillship sits up against a bulk carrier vessel March 12, 2022, in Pascagoula, Mississippi. The vessels collided when the mobile drilling unit vessel broke free of its moorings due to high winds. (U.S. Coast Guard courtesy photo by Coast Guard Sector Mobile)

A Valaris drillship hit the Akti bulk carrier ship on Saturday, after breaking free its moorings near the VT Halter Shipyards and Chevron docks in Pascagoula,  Mississippi. At around 1:30 a.m. Saturday, Coast Guard Sector Mobile watchstanders received a report from the National Response Center of a collision between two vessels. Per the Coast Guard, Valaris' a 752-foot drillship, reportedly broke free of its moorings due to high winds and collided with the Akti bulk carrier. According to photos shared by the Coast Guard…

24 Jan 2022

Enauta Buys FPSO OSX-2 for Deployment at Atlanta Field

Brazilian oil company Enauta has agreed to buy FPSO OSX-2 for the Definitive System (DS) of the Atlanta oil field in the Santos Basin, offshore Brazil.The completion of the acquisition is contingent on compliance with the agreed contractual conditions and is expected to occur in the first quarter of 2022. "The acquisition of FPSO is another important step towards the implementation of the Definitive System of the Atlanta Field. The negotiated terms allow the project to have a low breakeven and attractive returns. If we are successful in sanctioning the project, Atlanta’s production will reach around 50 thousand barrels of oil per day as of 2024, creating substantial value for our shareholders,” said Décio Oddone, the Company’s CEO.

20 Dec 2021

Yinson, Enauta Pen LoI for Atlanta Field FPSO

Illustration; An FPSO offshore Brazil - Image by Ranimiro - Adobe Stock

Malaysian FPSO contractor Yinson has signed a Letter of Intent with the Brazilian oil company Enauta Energia for the provision, operation, and maintenance of an FPSO at Enauta's Atlanta field in the Santos Basin, offshore Brazil.Enauta has been producing oil from the field using the FPSO Petrojarl I as an Early Production System, and has been looking to deploy another FPSO at the field for full-field development.The oil company and the Malaysian FPSO supplier had in August signed…

29 Oct 2021

“It’s alive!”: Offshore Drillers Start Resuscitating Idle Drillships

Drilling rigs stacked in Las Palmas/Credit:Larry - AdobeStock

Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes.We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs are about to be reactivated for new jobs in the Golden Triangle, and Valaris is taking the lead. Just last week, the driller confirmed that it will reactivate 6th generation, ultra-deepwater drillship Valaris DS-4 for a minimum 580-day deal with Petrobras Brazil.

04 May 2021

Dry Bulk Performance: Pangaea Logistics (Again) Claims the Top Spot

© mrnai/AdobeStock

Maritime Advisors, Liengaard & Roschmann have published for the third year running its Vesselindex Performance Report, ranking the listed dry bulk companies based on their TCE performance.In a year 2020 which was characterized by a high level of volatility it is noticeable that 17 companies managed to outperform the general market as defined by the Baltic Indices. U.S. listed Pangaea Logistics claims top spot for the third year in a row, competing against 24 other listed Dry Bulk…

05 Mar 2021

Valaris Set to Emerge from Bankruptcy as Reorganization Plan Approved

Offshore drilling company Valaris, the world's largest by fleet size, has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization, and has agreed with Korea's Daewoo to delay deliveries of two newbuild drillships.The offshore driller filed for bankruptcy in August 2020, in a move to restructure its debt load and reduce debt by more than $6.5 billion.The company this week said that in addition to bankruptcy court confirmation, the plan received support from approximately 80% of the company's unsecured notes and bank lenders representing 100% of the company's credit facility claims.

03 Feb 2021

Valaris Drillship Goes Adrift off Scotland

A Valaris drillship went adrift on Tuesday evening, breaking free from moorings near the port at Hunterston, North Ayrshire, Scotland.According to BBC, which was the first to report on the incident on Wednesday, "a major rescue operation has been ongoing overnight," when the 228 meters drillship, Valaris DS4, broke free and started drifting without power.According to the news agency, coastguard rescue teams, vessels, and a helicopter were dispatched to the scene, and no injuries have been reported.Offshore Engineer has reached out to Valaris and Maritime and Coastguard Agency, seeking more info. Valaris did not immediately respond. A…

19 Aug 2020

Synergy, Norden Launch Tanker JV

Nord Integrity, a 48,026 dwt MR product carrier (Photo: Synergy Group)

Synergy Group and D.S. Norden have formed a new 50/50 joint venture to handle the technical management of Norden’s owned tanker vessels. Norden Synergy Ship Management (NSSM) will be headed by Henrik Christensen who previously managed Norden’s Technical Department.“We see great alignment when we have partnered previously and we expect that to lead to more mutual wins in the future through NSSM,” said Captain Rajesh Unni, CEO & Founder of Synergy Group.The formation of NSSM further cements the partnership between Synergy Group…

27 May 2020

Pangaea Takes Top Spot in Dry Bulk Benchmark Study

For the second year straight, US-based Pangaea Logistics ranks highest among dry bulk owners based on Time Charter Earnings (TCE), according to a recent market benchmarking report.Notably, the Rhode Island-headquartered shipowner's 53.7% TCE performance is well above Hong Kong's Pacific Basin Shipping Ltd. (24.3%) and Thailand's Thoresen Thai Agencies (23.5%) in second and third place respectively.The Vesselindex Performance Report by Danish maritime advisors Liengaard & Roschmann measures the TCE performance of 25 individual companies in relation to the earning potential of their respective fleets, making sure that no company is neither penalized nor getting an advantage from inferior/superior fleet compositions.

27 Mar 2020

Valaris to Lose $620,000 a Day Rig Deal with Total after BOP Drop off Angola

Valaris, the world's largest offshore drilling company by fleet size, is set to lose one of the most lucrative contracts in the offshore drilling industry today after it recently accidentally dropped a blowout preventer stack to seabed offshore Angola.The contract, at a day rate of $620,000 per day, is with the French oil major Total for the drillship Valaris DS-8. The Samsung GF12000 designed drilling rig has been drilling for Total since 2015.As previously reported, Valaris earlier in March said it had accidentally dropped Blowout Preventer Stack to the seafloor of Angola, while the rig was moving between well locations. It then warned the customer might seek to terminate the contract as a result of the incident.In an update on Thursday…

25 Feb 2020

Marine News' 2020 ATB Report

(Photo: Vane Bros.)

There’s a barge full of reasons why many operators turn to ATBs.A  mainstay of the U.S. coastwise dirty and refined products trades, articulated tug barges (ATB) have increasingly filled a void left as the fleet of Jones Act tankers (with crew complement requirements exceeding that of tugs) has aged out. With the cargo capacity of the larger ATBs – some with barges exceeding 300,000 barrels capacity – rivalling that of workhorse tankers that had served oil consuming regions, the concept certainly makes sense from a supply and distribution perspective.With 50…

24 Feb 2020

Hybrid drives: Siemens sends in the machines

A robot’s battle against emissions: Siemens articulated robots of different sizes assemble battery stacks at Trondheim, Norway. 
Credit: William Stoichevski

Encouraged by the success of a hybrid drives program, Siemens is going all out in Norway to automate production of that core marine energy storage enabler, the lithium battery. Offshore service vessel charterers, rig owners, ferry operators and ship owners are the target market. Trondheim’s technical university and a recent history of hosting battery makers and system integrators has made it launchpad for new applications involving the new BlueDrive Plus C drives and batteries.Siemens’ Norwegian head of strategy and business development…

24 Nov 2019

SHI to Pay $75m in Fine: US Justice Dept

South Korean shipbuilder Samsung Heavy Industries Co. (SHI) has agreed to pay $75 million in penalties to avoid prosecution in the United States over its scheme to pay millions of dollars in bribes to Brazilian officials to win a contract.“Samsung Heavy Industries paid millions of dollars to a Brazilian intermediary, knowing that some of that money would be used to bribe high-level executives at Petrobras and obtain a lucrative shipbuilding contract,” said Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division. “Today’s resolution is yet one more example of the Department’s continued commitment…

19 Aug 2019

PGA Plans Central Port

The Port of Gdansk Authority (PGA) has signed an agreement with a consulting company, which will support the construction of the port basing on a public-private partnership model.DS Consulting - is a company, specializing in advising public entities, which has signed a cooperation agreement with the PGA. The company has 21 years of experience in this market.PGA said that the proposed Central Port concept in Gdansk is the largest planned maritime investment in Europe.The Central Port will be a complex of 6 to 8 terminals and deep-water quays used for different purposes. Approximately 410 hectares of seaside land will be used to operate terminals of various types, including areas for containers, passengers, offshore operations, LNG or shipbuilding facilities.

10 Jun 2019

Workboat Report: The U.S. Workboat ($33.8B) Market

Inland pushboat and barge. Source Kirby Corporation

The U.S. towing and tug business is 5,500 boats, more than 31,000 barges with an estimated total impact on U.S. GDP of $33.8 billion.“At a macro level, the bigger ships are causing downward pressure on the ship assist business because there are fewer ship calls given the increased capacity of these vessels. However, certain ports have seen tremendous growth, based on strategic location and infrastructure investments that have attracted these larger ships and been a net plus for these areas.”Kate Fuhrman…