Maersk Drilling: First Order for "Chela" Crane
Maersk Drilling awarded GustoMSC the first order for the uniquely designed crane Chela, which is to be installed on Maersk Invincible (GustoMSC CJ70 design) which is currently operating on Valhall for AkerBP. Chela is desgined to improve safe handling underneath the cantilever and reduce total time spent on wells. Chela offers an extra hand in operations as, due to its crablike motion characteristics, it can reach below the cantilever as well as elevate towards the main deck, providing crane access to an area traditionally blocked by the cantilever when drilling.
Maersk Tanker Unit to Wind Down Customer Agreements in Iran
Danish oil product tanker operator Maersk Tankers, part of shipping group A.P. Moller-Maersk, said on Wednesday it would wind down its customer agreements in Iran by November following new U.S. sanctions on Tehran."We will perform customer agreements entered into before May 8 and ensure that they are wound down by November 4, as required by the re-imposed U.S.
Maersk Revenue Up 30% YOY in Q1
In Q1 2018, A.P. Moller - Maersk had a revenue growth of 30% to USD 9.3bn, 10% excluding Hamburg Süd, with growth in all business segments and a strategic transformation well underway. A.P. Moller - Maersk reiterates its expectations for 2018 of an underlying profit above 2017 (USD 356m), however noting increased uncertainties due to geopolitical risks, trade tensions and other factors impacting freight rates, bunker prices and rate of exchange. “In the first quarter of 2018, we reported a 30% revenue growth and the integration of the business is well underway with a successful start to the Hamburg Süd integration and the closing of Maersk Oil transaction in March with an accounting gain of USD 2.6bn.
Maersk Announces 2012 Annual Results
Maersk delivered a profit of USD 4.0bn (USD 3.4bn), which was slightly higher than the latest announced outlook of around USD 3.7bn expressed on November 9, 2012. The return on invested capital (ROIC) was 8.8% (8.3%). Profit was positively affected by the settlement of an Algerian tax dispute in Q1 of USD 899m combined with improved volumes, rates and unit costs for Maersk Line. Profit was negatively affected by a decline in Maersk Oil’s share of production and impairment losses of net USD 405m of which USD 268m related to Maersk Tankers in Q3. Divestment gains were USD 636m (USD 890m) with the divestment of two FPSOs, Maersk LNG and Maersk Equipment Service as the largest transactions. Revenue decreased slightly to USD 59.0bn (USD 60.2bn).
Maersk May Reward Shareholders as Oil Unit Suffers
Danish conglomerate A.P. Moller-Maersk may announce a second share buyback scheme in its 110-year history as early as Wednesday, analysts said, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices. Further divestments from its large portfolio of companies may also be on the radar, funding any buybacks or at least increased dividends, with the world's largest container shipping company focusing more closely on the shipping and oil industries. Maersk's will present its fourth quarter results at 0700 GMT on Wednesday. Net profit is expected to rise 9.8 percent to $1.0 billion, boosted by a 59 percent rise in container shipping but hit by a 50 percent drop in its oil business.
Maersk: Disappointing Q1 Earnings Hit Share Price
A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political and trade tensions clouded the outlook, sending shares in the world's biggest container shipper sharply lower.Earnings before interest, tax, depreciation and amortization (EBITDA) for the three months to March 31 rose 5 percent to $669 million but came in well below the $852 million forecast by analysts in a Reuters poll.Chief Executive Soren Skou called the result "unsatisfactory"…
New Water Booster Pumps for Polvo FPSO
As part of the life extension project for the Polvo Floating production storage and offloading (FPSO) vessel, operator BW Offshore has contracted Norwegian based liquid handling and pump specialist PG Flow Solutions to supply new water booster pumps.PG Flow Solutions said its scope of work includes the engineering, procurement, assembly of pump skid and commissioning of two produced water booster pumps in super duplex materials, with 150kW electrical motors, variable frequency drives and pressurized seal system.“After a couple of challenging years for the Brazilian offshore industry…
Maersk Line Rolls out Exclusive Transatlantic Service
Maersk Line, the world's largest shipping company, announced the expansion of its product portfolio between Europe's Mediterranean region and Canada to cater for the growing demands of importers and exporters on both sides of the Atlantic. The exclusive, fully Maersk Line-operated weekly service will be a five-vessel rotation stopping in Salerno and La Spezia (Italy), Fos-sur-Mer (France), Algeciras (Spain), Montreal and Halifax (Canada), and Valencia (Spain). Other Mediterranean…
Maersk Line Introduces Bunker Surcharge
The world's largest container shipping company Maersk Line is increasing prices because of a surge in the cost of bunker fuel. The shipping fuel has become increasingly costly as global crude oil prices have returned to peaks not reached since 2014, lifted by the United States' exit this month from the landmark nuclear deal with Iran and imposed sanctions against the OPEC member. Now Maersk has decided to introduce a so-called "emergency bunker surcharge", taking effect from June 1.
FPSO Charter & Operation Contract for SBM Offshore
SBM Offshore has received a Letter of Intent (LOI) for the 20-year charter & operation of two FPSOs from BM-S-11 subsidiary Tupi BV. The FPSOs will be deployed at the Lula field in the pre-salt province offshore Brazil. BM-S-11 block is under concession to a consortium comprised of PETROBRAS (65%), BG E&P Brasil Ltda. (25%), and Petrogal Brasil S.A.(10%). The FPSOs will be owned and operated by a Joint Venture company owned by SBM Offshore with other partners including Queiroz Galvão Óleo e Gás S.A.(QGOG). SBM Offshore will be in charge of the construction of the two FPSOs with planned delivery expected respectively by end 2015 and early 2016.
Lloyd's Register to support Maersk FPSO
Lloyd’s Register EMEA has been awarded the global contract to provide Maersk FPSOs with a comprehensive suite of technical services to assure the reliable operation of its fleet of floating oil and gas production units which serves some of the world's biggest offshore fields. The multi-year agreement will require the combined expertise of the energy and marine teams at Lloyd's Register to deliver a suite of technical services -- including integrity and inspection management, classification, verification and engineering support -- to help ensure safe and sustainable operations. There is an option to extend beyond the original contract period.
Aker Solutions Offshore Loading Systems Contracts, Brazil
Aker Solutions has won two similar contracts, together worth approx. 120 million NOK, from CQG Oil & Gas Contractors Inc. and CCI Oil & Gas Contractors Inc., for the supply of Pusnes offloading systems(TM) to two FPSOs in the Brazilian market. The offloading systems will be installed on the two FPSOs P-58 and P-62, which are being converted and built for Petrobras. The two FPSOs are spread moored FPSOs, and will use the field proven Pusnes offloading system(TM) at both bow and aft ends.
OSX Brasil Announces New Operational Plan
OSX Brasil S.A., announced a new Plan of Activities, to be implemented by its subsidiary OSX Construção Naval S/A, for production of offshore oil and gas E&P equipment at its Açu Shipbuilding Unit ("UCN Açu") up to 2015.OSX Brasil aims to construct the largest shipyard in the Americas, in partnership with Hyundai Heavy Industries, in the city of São João da Barra, Rio de Janeiro state. The company also hopes to satisfy customers' demands for oil and gas exploration and production equipment. UCN Açu has a total area of 3.2 million square meters, of which 2.55 million square meters will be used in the first phase of development. This phase includes the possibility of integrating up to 6 FPSOs and building up to 8 fixed platforms (WHPs) simultaneously…
A.P. Moller Maersk Reports Interim Results
Revenue for the period increased by 9% to $29.9bn $27.4bn), primarily due to higher oil prices and container volumes. Profit for the period was 8% higher at $2.7bn $2.5bn), positively affected by divestment gain from sale of Netto Foodstores Limited, UK of $0.7bn. The Group’s ROIC was 12.8% (12.8%).. "Thanks to the good performance of our terminals and oil related businesses, the Group has delivered a satisfactory result for the first half-year. As we anticipated at the start of the year, the shipping market has been difficult, due to growing capacity, and we expect the slow economic growth and market volatility to continue for the coming quarters.
FPSO Operation Increased 84% in Past Decade
IMA/EMA recently completed an in-depth analysis of the floating production sector. Highlighted below are some key findings in Floating Production Systems: assessment of the outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs. FPSOs account for 61% of the existing systems. The balance is comprised of production semis, tension leg platforms, production spars, production barges and floating regasification/storage units. Thirteen units (twelveFPSOs and one Semi) are off field and available for reuse – resulting in an overall utilization rate of 95.2%.
IHC Caland Logs $100M New Business
IHC Caland reported that it had won new orders recently worth more than $100 million and would continue to meet its banking covenants. J.P. Morgan had said in October that IHC's high gearing implied the risk of a possible breach of its debt covenants. The group, whose main activity is building and operating floating production and storage platforms (FPSOs) for oil companies, also said on Tuesday that U.S. oil major Exxon Mobil Corp. would keep one of its FPSOs on a long-term lease rather than buying it as initially planned. Meanwhile, a new FPSO has started production for Exxon Mobil offshore Angola. With this new unit, IHC subsidiary SBM now has 13 FPSOs under lease and operating contracts with three new ones under construction, the company said.
Bureau Veritas to Class, Certify FPSOs for Saipem
Bureau Veritas has been awarded a contract by Saipem to provide classification and certification services for the two Kaombo FPSOs for service off Angola. The $4 billion project for the FPSOs was awarded to Saipem by Total for the engineering, procurement, installation and commissioning of two converted turret-moored Floating Production Storage and Offloading units (FPSOs) for the Kaombo Field Development Project, located in Block 32, offshore Angola. Bureau Veritas will oversee the conversion of the vessels and class the floaters in service…
FPSOs Sit Unprecedentedly Idle
The 20 year four-fold growth pattern in the world’s FPSO fleet stalls out in 2016 with a record number of FPSOs idle and available for redeployment – or perhaps to be forced into other uses, lay up or scrap. FPSO redeployments typically are far more complex, costly and risky than for (say) drillships and yet the need for redeploying idle FPSOs is now in the forefront of the industry like never before as FPSO owners also have to face the worst ever down market for their equipment and services.
FPSOs: New Storage Tank Explosion Frequencies
The fatal explosion in the pump room on the Brazilian FPSO Cidade de São Mateus in February 2015, demonstrated the potential for major accidents on this type of unit. Although there has never been an explosion in the oil storage tanks of an FPSO, there is a potential for such an event and offshore operators should assess the risks of such events to design against them. It is therefore imperative that risk assessments of FPSOs address this type of event. For this, they need to estimate its annual likelihood of occurring.
ABB Controls Production Systems Aboard Giant FPSO
Floating Production Storage & Offloading ship uses ABB systems to control entire production from reservoir to wellhead to vessel. FPSO Peregrino, one of the biggest, most technologically advanced oil production ships in the world, was converted at a cost of more than US$1-billion from a VLCC tankship to function as a FPSO having been acquired by Statoil and permanently moored off the coast of Brazil. This FPSO vessel has a daily production capacity of 100,000 barrels of oil, 350,000 barrels of liquid and 7.3 million standard cubic feet of gas.
Aker Solutions Enters Brazilian Installation Market
Aker Solutions has signed a contract with Maersk FPSOs to perform mooring installation work at the offshore Brazil Peregrino field. The contract is the first marine installation job for Aker Solutions in Brazil and marks the start-up of the company's marine operations unit in the country. The work involves planning and installation of an APL submerged turret production (STP) buoy, which will be moored in approximately 100-m water depth using ten mooring lines with 90-ton piles, heavy chain and wire. Mooring components will be delivered by Maersk FPSOs. The operations are scheduled to be conducted during Q4 2009.
BV Tackles FPSO Cracking
structures and enhanced spectral fatigue analysis. range of ship and box-shaped FPSOs. cracking has appeared on existing FPSOs. built to a number of different class society standards. damage even in mild environments, especially to converted units.
Maersk Likely to Shelve Plans to List Drilling Division
Shipping group A.P. Moller-Maersk is likely to shelve plans to list its struggling offshore drilling division because of weak market conditions, according to five finance sources familiar with the matter.The Danish company is now expected to focus on a trade sale of Maersk Drilling, and extend the timeline to divest the unit beyond its initial target of the end of 2018, said the sources who declined to be named as the discussions are private.Maersk group has not publicly put a price tag on the division…