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Sunday, January 21, 2018

Offshore Opportunities News

Offshore Wind Energy Update: The LCoE Buzzword

Image courtesy of Offshore Wind

The buzzword of the Offshore Wind industry today is the Levelised Cost of Energy (LCoE) – the lifetime cost of the project, per unit of energy generated – which needs to be lowered in order to maximise the size of the industry. The 5th annual Offshore Wind Construction, Installation & Commissioning Conference, October 14-15, 2013 | Hamburg, Germany will consider such problems. Current wind farm projects have indicated that costs have stabilised at around £140 / €160 per MWh and regulators have put forward a challenge that offshore wind should reach a LCOE of £100 / €120 MWh by 2020…

NOIA Responds to US Offshore Leasing Proposals

Background: US Department of the Interior released its proposed final 2012-17 US Outer Continental Shelf leasing program that it said makes areas with the most likely recoverable oil and gas resources—including tracts off Alaska’s Arctic coast—available over the next 5 years. “A Five Year Leasing Plan is the most definitive policy action an Administration can take regarding our country’s offshore energy development. Because the federal government completely controls the vast resources of the outer continental shelf (OCS), the five year plan is a greater measurement of an administration’s policy decisions than current energy development seen in abundance on state and private lands elsewhere in this country, which are largely outside the scope of federal decision making.

Europort to Partner IRANIMEX

Logo Iranimex, powered by Europort,

Europort has become the official and exclusive international partner of IRANIMEX, the leading maritime & offshore exhibition in Iran. The agreement brings together the brand behind the maritime and offshore industry’s most vibrant conference and exhibition, Europort, and the gateway event covering unprecedented industry opportunities in Iran. From 2016, the new partners will combine the blueprint established for previous IRANIMEX events and the international expertise that the Europort name conveys, under the brand ‘IRANIMEX powered by Europort’.

WWH Increases Stake in NorSea Group

Image courtesy of NSG/WWH

Wilh. Wilhelmsen Holding Invest AS (WWHI), a fully owned subsidiary of Wilh. Wilhelmsen Holding ASA (WWH), informs it hs raised its shareholding in NorSea Group AS (NSG) from 35.4% to 40%. The share increase follows a share issue in the company whereby NSG buys Danbor AS from A.P. Møller Mærsk AS. “Increasing our shareholding in NSG is a natural part of our strategic ambition to broaden our exposure in the energy, offshore and maritime industry, supplementing activities Wilh. Wilhelmsen ASA and Wilhelmsen Maritimes Services,” says Nils P Dyvik, group CFO in WWH.

Bibby Offshore Recapitalization Completed

Bibby Offshore chief executive Howard Woodcock (Photo: Bibby Offshore)

Subsea services provider Bibby Offshore Holdings Limited said it has completed the recapitalization of its balance sheet announced on December 5, 2017. The agreement to recapitalize the balance sheet was approved January 10 by 98.7 percent of noteholders of the £175 million (approximately $243 million) 7.5 percent senior secured notes, and makes noteholders the new owners of the group. “The completion of the recapitalization will be transformational for Bibby Offshore and is a major milestone for our business,” said Howard Woodcock, chief executive of Bibby Offshore.

Eidesvik Scores Work for Two Vessels

Photo: Eidesvik Offshore ASA

Norwegian shipping company Eidesvik Offshore ASA  has signed a letter of intent (LoI) with Seabed Geosolution for the use of  two vessels. Contract commencement are ultimo January to primo February and the duration is expected to last for the remaining part of 2018. The LoI is for the use of the multi-purpose support vessel Subsea Viking and for the use of the seismic vessel Vantage. Recently, Eidesvik Invest AS, together with some of the largest shareholders in Eidesvik Offshore, have undertaken to subscribe new equity in a private placement of NOK 120 million at a price of NOK 5 per share.

NOIA Rebuts “Red Herring” Study on Atlantic Development

(NOIA) Randall Luthi President of the National Ocean Industries Association

“The Quest Study estimates the potential for jobs, economic activity and government revenue that could be generated from Atlantic development, assuming reasonable government policies supporting energy development are in place. Completed in 2013, the Quest report was never intended, nor could it have been expected, to predict federal policy in 2015. Thus, the SELC report misses the forest for the trees; the fact remains that Atlantic oil and gas activity holds the potential to add tens of thousands of jobs and billions of dollars in revenue and investment to Atlantic states.

Offshore Drilling Spends Surges

High oil prices will drive oil & gas industry spends on offshore drilling to a total of $380b over the five year period to 2012; a rise of nearly 60% in comparison to the $240b spent in the previous five years. The latest edition of the ‘World Offshore Drilling Spend Forecast 2008-2012’ published by Douglas-Westwood and Energyfiles forecasts that by 2012 the global drilling market will be worth an estimated $80b, more than doubling since 2003. The data derived from the Energyfiles Global Database shows that nearly 18,000 offshore wells were drilled over the last five years. “The forecast for the next five years is generally stable but with a peak in 2010 and a slight dip in 2011, ultimately equalling a little over 20,000 for the period, and representing a rise of 13%.

Bentley Acquires FormSys

Bentley Systems acquired FormSys, based in Perth, Australia. This software development company has a proven, 20-year track record in 3D design, analysis, and construction software for structural engineering, offshore engineering, and naval architecture. The acquisition will expand Bentley’s SACS offerings for the design and analysis of floating structures, further extending the company’s reach in the offshore energy market. SACS is an integrated finite element structural analysis suite of programs that uniquely supports the design, fabrication, installation, operations, and maintenance of offshore structures, including oil platforms and wind farms. Thirty-eight years of focus on these specialized requirements have made SACS the analysis mainstay for most of the world’s offshore engineers.

As US Opens Up Offshore Waters, Eastern GoM Beckons

© xmentoys / Adobe Stock

President Donald Trump's administration has proposed opening up nearly all of America's offshore waters to oil and gas drilling, but the industry says it is mainly interested in one part of it, now cordoned off by the Pentagon: the eastern Gulf of Mexico. The industry's focus on an area located near a sprawling network of existing platforms, pipes and ports could ease the path to new reserves, and assuage the drilling opponents near other places offered under the Interior Department's proposed drilling plan issued last week, like California's Pacific, the Atlantic and Arctic.

Rolls-Royce Shares Jump as Commercial Marine Unit Sale Mulled

File Image: a Rolls-Royce water jet offering (CREDIT: Rolls-Royce)

Britain's Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units. Shares in the company jumped after it said the loss-making unit could be sold. They were trading up 7.2 percent at 1330 GMT. The announcement came as part of a restructuring of the aero-engine maker into civil aerospace, defence and power systems units, with naval marine and nuclear submarines consolidated into defence and civil nuclear into power systems.

New CEO, Co-CEO to Lead MHI Vestas Offshore Wind

Photo: Vestas Wind Systems A/S

Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind. The appointments will take effect on 1 April, 2018, and are made in accordance with the joint venture agreement's principle of changing its leadership every four years. Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind has established itself as a leading player in offshore…

SBM Offshore Hands over FPSO Turritella to Shell

Turritella (Photo: Shell)

SBM Offshore said it has completed the transaction related to the sale of floating production storage and offloading (FPSO) vessel Turritella to Shell E and P Offshore Services B.V.   Shell exercised an option to purchase the FPSO from SBM Offshore in summer 2017.    The Turritella FPSO is contracted for the Stones deepwater development in the Gulf of Mexico, which began production in 2016.   The vessel has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.

Vroon Offshore Vessel Undergoes Modification Work

Photo: Damen Shiprepair

Damen Shiprepair Oranjewerf has completed final outfitting and modifications on a second subsea-support walk-to-work (W2W) vessel for Vroon Offshore Services (VOS). VOS Stone was built at Fujian Southeast Shipbuilding in China before coming to the Netherlands for completion. This follows a similar project successfully completed in July this year at Oranjewerf, involving sister ship VOS Start. The eight-week program for VOS Stone involved a wide range of activities, including installation of a 50-tonne active heave-compensated…

Could Offshore Crewing Requirements Make Things Worse?

(Photo: Joaquin Andres Bosqued)

It has been years (2009) since I last wrote an article discussing the availability of U.S. citizens to work offshore in support of oil and gas projects during a downturn in the economy. And now, it is even worse. With the price of oil and gas remaining depressed for many months now, and the many new developments related to drilling ashore, and domestic vessels remaining stacked in the Gulf of Mexico (GOM), companies are working hard to find work in any market around the world. This downturn in activity also means less jobs for U.S. citizen seafarers.

VOS Stone Equipped with Ampelmann W2W Gangway

Ampelmann A400 (Photo: Ampelmann)

Vroon Offshore Services and Ampelmann have joined forces to deploy a Walk to Work (W2W) solution for the Arkona offshore wind farm, located in the German Baltic Sea. Vroon’s VOS Stone vessel, the newest addition to its offshore-support fleet, will be mobilized with an Ampelmann A400 gangway system. The gangway, launched in 2017, will be utilized for the first time for W2W operations during array cabling work and commissioning of the Arkona offshore wind farm. The A400 gangway system…

Wison’s Juan Guarin to Speak at Offshore Colombia Forum

Shanghai-based Wison Offshore & Marine Ltd., a subsidiary of the Wison Group, announced that Latin America Sales Manager, Juan Guarin, will present the EXMAR FLRSU project at the Offshore Colombia Forum on May 6. Wison Offshore & Marine was awarded a contract by Exmar in June 2012 for the engineering, procurement, construction, installation and commissioning of the world’s first FLRSU, which is being constructed at Wison’s wholly-owned fabrication yard located in Nantong, China. Mr. Since offshore activities in Colombia are starting to experience a significant boost, great business opportunities will be created for American companies involved in the oil and gas industry.

G E Shipping Sells Supramax

Photo: The Great Eastern Shipping Co. Ltd.

India’s largest private sector shipping company  Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt. G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18. The Company’s current fleet (including Jag Rahul) stands at 48 vessels, comprising 32 tankers (12crude carriers, 17 product tankers, 3 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 10.24 years aggregating 3.93 mn dwt.

Wrist Ship Supply Acquires Strachans

Wrist Ship Supply, one of the world’s largest ship supply companies, today announced the acquisition of Strachans Ltd, the UK’s leading independent food distributor to the offshore catering market. This represents Wrist’s sixth deal in less than two years following acquisitions in Europe, America and Canada. The agreement combines Strachans’ specialist offshore market knowledge with Wrist’s global network, worldwide infrastructure and financial strength and provides the foundation…

US Dredging Invests in American Workers, Safe Navigation Channels

MAGDALEN (Photo courtesy of  AMP)

The American Maritime Partnership (AMP), the voice of the domestic maritime industry, has highlighted the U.S. dredging industry’s commitment to build and maintain safe, efficient and cost-effective navigation channels in the nation’s inland waterways and ports. The recent deliveries of four state-of-the-art vessels, constructed by nearly 700 American workers in U.S. shipyards, are a reflection of the U.S. dredging industry’s continued investment in building dredges with increased…

Hutchison Ports Acquires 50% Stake in TMA

Image: Hutchison Ports Holdings

Hong Kong's Hutchison Ports has acquired a 50% shareholding in Amsterdam-headquartered terminal and logistics operator TMA Logistics. TMA has a variety of general cargo terminal operations together with warehousing, shipping, logistics and project cargo activities at three sites in Amsterdam and one in Antwerp as well as at Hutchison Ports Amsterdam (former known as Amsterdam Container Terminal). Commenting on the acquisition, Clemence Cheng, Executive Director, Hutchison Ports…

Obama’s Address Missed Energy Opportunities -NOIA

President Barack Obama delivers the State of the Union address in Washington, D.C., January 20 (Official White House Photo by Pete Souza)

NOIA President Randall Luthi issued a statement in response to President Obama’s 2015 State of the Union Address, stating that the President missed a few key points regarding domestic onshore and offshore energy production and supply, and its impact on the U.S. economy. "While the President highlighted America's energy renaissance in his address to Congress tonight, he failed to note that the increase in the supply of American-made energy is occurring on state and private lands, not the federal lands under his control,” Luthi said.

Lion Containers Joins Achilles FPAL

Lion Containers Ltd. announced that it has joined Achilles FPAL, the supplier management community supporting the European oil and gas industry. Achilles FPAL is a community used by major buying organizations within the oil and gas sector. It enables the oil and gas sector to use Achilles' proven supplier prequalification system to identify, prequalify and assess suppliers for tender opportunities and minimize risk within their supply chains. Established in 1996, FPAL is a service provided by Achilles and the community is managed by a Steering Group to drive industry best practice.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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