OSV Market: Which Way is Up?
Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its Seabreeze market report follows this convention with a description of the “feast or famine” conditions in the North Sea. Recent day rate action highlights the localized nature of markets for anchor handlers (AHT), platform supply vessels (PSVs) and similar equipment…
NOSAC to USCG: Allow Domestic OSVs in Disaster Recovery
Last week, the National Offshore Safety Advisory Committee (NOSAC) overwhelmingly approved recommendations that the U.S. Coast Guard (USCG) remove the hinderances that prevented U.S. energy-industry vessels, from assisting Puerto Rico with recovery efforts after Hurricane Maria.The offshore energy industry is serviced by highly specialized vessels. Offshore supply vessels (OSVs) have large open decks to carry cargo to offshore rigs. OSVs typically also have massive internal tanks to carry and pump water, drilling mud, or fuel to offshore facilities.
First Ever ‘DP Digital Survey’
A team of industry partners say they have successfully tested a new solution for dynamic positioning (DP) system performance and redundancy audits – an industry first.Developed by Norway's Kongsberg Maritime in collaboration with offshore service provider BOURBON and DP experts at Bureau Veritas (BV), the ‘DP Digital Survey’ application runs on an industrial data management system that ensures unprecedented data consistency for the verification of installed systems, Kongsberg Maritime explained.
MDL Bags West Africa SURF Project
UK-based Maritime Developments Ltd (MDL), which designs, manufactures, and delivers machines to energy sector, said that it has secured a flexible installation project offshore Ghana.The work scope covers an installation of a flowline using MDL Third-generation Reel Drive System, operated by the expert MDL Offshore Service team.The equipment was loaded out in components from MDL’s Peterhead, Scotland facility for road transportation to Cadiz, Spain to meet the Client’s installation vessel.
JR Shipping Increases Container Capacity
Dutch shipowner and manager JR Shipping takes over four container spring ships and is expanding its fleet again.Harlingen-based JR Shipping said that it has added three 1,436 TEU container feeders to its fleet. A fourth vessel with the same capacity will be added within the next few months.Taking into account the recent sale of one of its container feeders, JR Shipping will thus increase its container capacity by over 4,500 TEU.The phased purchase concerns the MV’s Aalderdijk, Akerdijk and Alsterdijk (first phase) and the MV Amerdijk (second phase).
Telford Offshore Adds Seven Vessels
Dubai headquartered offshore service company Telford Offshore said it has acquired an additional DP3 pipelay and accommodation vessel, and six offshore support vessels following a legal settlement between Sea Trucks Group (STGL in liquidation) and West African Ventures (WAV).The acquisition nearly triples the Telford Offshore fleet, up from four vessels to 11.The DP3 vessel Jascon 30 is set to be dry docked in the coming months and upgraded in preparation for utilization across the globe under its new name Telford 30.
Offshore Service Market to Outspace Onshore Shale
Spending on the offshore service sector will outpace spending on the onshore shale sector this year, said Rystad Energy.According to Rystad's Oilfield Service Research report, service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal.At current oil price levels, spending on land rigs, fracking and other services for the shale industry is likely to stay essentially flat in 2019.
Jensen Maritime Designs New Tier IV Tractor Tugs for Foss
Jensen Maritime, Crowley Maritime Corp.’s Seattle-based naval architecture and marine engineering company, has provided the detailed design for an initial four, with an option for six additional, Tier IV tractor tugboats being built by Nichols Brother Boat Builders for Foss Maritime.The 90-short ton bollard pull tugs are based on Jensen’s popular Valor tugboat design, of which 9 have been successfully built and deployed to date and an additional five remain under design/construction. Once delivered, the Foss tugs will be deployed along the U.S.
Did You Know? The U.S.-Owned Ship Fleet is Valued at $47.2B
According to the most recent statistics from VesselsValue.com, published in the December 2018 edition of Maritime Reporter & Engineering News, the U.S.-owned fleet of ships totals 2,702 ships and $47.2 billion.The majority (2,618 ships worth $42.6B) are active now, with 84 vessels worth $4.5B currently on order.Tankers lead the value pack, with a cumulative 460 vessels woth $14B. But the Offshore Service Vessel (OSV) sector is cleary the leader in number of hulls, with 1,316 OSVs worth a cumulative $5.9B.
Siemens Gamesa Firms Belgian Offshore Wind Project
Spanish wind turbine manufacturer Siemens Gamesa Renewable Energy (SGRE) received the order for the 487 MW SeaMade offshore wind power project in Belgium from customer Seamade NV.The wind turbines and services provider said that it includes supply and commissioning of 58 units of the SG 8.0-167 DD offshore wind turbine and a 17-year Service agreement. The project consists of the two combined sites: Seastar, a 252 MW offshore wind power plant with 30 SG 8.0-167 wind turbines and Mermaid…
Moose to the Rescue
This West Coast boat builder stays busy creating high quality fireboats for a diverse set of demanding, multi-missioned first responders. For Moose customer satisfaction is the name of the game. This year, they’ve got that box checked.Vallejo,CA-based Moose Boats builds aluminum catamaran and monohull vessels designed to meet a variety of mission-specific applications for military, law enforcement, emergency response, firefighting and security patrol purposes. It’s been a busy year for Moose…
Solstad Offshore Wins PSV Contract from Allseas
Swiss-based offshore contractor has hired two platform supply vessels (PSVs) from Norwegian offshore shipping company Solstad Offshore.Norwegian offshore service and supply ship shipping company said in a press release that Allseas contracts are for two PSVs, “Normand Naley” (2011, VS 485) and “Sea Supra” (2014, PX105), for pipe-haul duties.Both contracts are for 70 days firm plus options with commencement first half of December 2018, said the release.Solstad have a modern and competitive fleet consisting of 141 vessels.
Solstad Offshore Bags More Contracts in Brazil
Norwegian offshore service and supply ship shipping company Solstad Offshore has entered into a contract for the CSV Normand Pioneer (1999, CSV, 286t BP) with Queiroz Galvão Exploração e Produção S.A in Brazil.The contract has a duration of two years firm and in addition charterer holds two yearly options. The contract will commence in 1q 2019 and shall support production at the “Atlanta Field” in Santos Basin.Normand Pioneer will replace the AHTS Far Sagaris, who presently have this position…
Tidewater Chooses UniSea
UniSea AS, a software developer and consultancy specializing in solutions for the shipping industry, has been selected by Tidewater Inc. as its partner in the digitalizing and standardizing of Tidewater’s business processes related to health, safety, environment and quality (HSEQ) and operations. The UniSea software suite will be implemented on all Tidewater vessels and in all offices in one of the largest contract’s in UniSea’s 21-year history.Tidewater Inc., headquartered in Houston…
OSVDPA Announces 2019 Membership Enrollment
Announcement also includes new membership policies and enrollment procedures.The Offshore Service Vessel Dynamic Positioning Authority (OSVDPA) is now accepting Individual and Corporate Membership Applications for the 2019 calendar year.Membership provides individuals and companies involved in the dynamic positioning industry the ability to advise the OSVDPA on the content and requirements of the OSVDPA DPO Certification Scheme. Specifically, members elect two representatives to the OSVDPA Technical Advisory Council (TAC).
OP/ED: Mariner Credentialing Evolves – for the Better
As the Offshore Service Vessel Dynamic Positioning Authority’s new dynamic positioning operator (DPO) certification body evolves, its pathway to training and certification gives mariners options, and a seat at the table.The other day I was thinking about what makes me a captain. What I came up with as the relevant points were the ability to handle the vessel and read the environmental conditions, leadership abilities, risk detection and mitigation, managing peers, and mentoring my crew.
Cautious Consolidation for OSV Companies Brings Market Change
Will a rising tide in the offshore oil markets float all the boats? In the U.S. Gulf of Mexico, that remains to be seen.Offshore services, exploration and production are on a roll. In early October, yet another business combination of big drillers was announced. In a sign of optimism, Ensco announced its plan for an all-stock acquisition of Rowan Offshore, worth around $2.4 billion. The new company will be domiciled in the United Kingdom, but will have a large presence in Houston.
Dynamically Positioned for the Future
OSVDPA accredits Texas A&M Maritime Academy to provide dynamic positioning (DP) training to its cadets.In early September, the Offshore Service Vessel Dynamic Positioning Authority (OSVDPA) announced that the Texas A&M Maritime Academy at Texas A&M University at Galveston was now the first maritime academy in the nation accredited to provide OSVDPA courses to its cadets. For any U.S. maritime academy, most if not all of them traditionally focused on sending out graduates ready for blue water, deep water service, this represents a sea change in training.
INSIGHTS: John Rynd / President , CEO and Director, Tidewater Inc.
Mr. John Rynd graduated from Texas A&M University with a Bachelor of Arts degree in Economics. He previously served as Chief Executive Officer and President, and as a director of Hercules Offshore from 2008 through 2016. Prior to his time with Hercules, Mr. Rynd spent 11 years with Noble Drilling Services, Inc., where he served in a variety of management roles. Earlier in his career, he served in various roles of increasing levels of responsibility with Chiles Offshore and Rowan Companies. Beyond this, Mr.
LNG Bunkering to Grow at CAGR of 62.50% CAGR to Reach $247bn in 2023
The global liquefied Natural Gas (LNG) bunkering market is expected to witness a CAGR of 62.5% over the forecast period 2017-2023, and is projected to reach USD 24,684.7 million by 2023.The key factors driving the growth of LNG bunkering market are increase in LNG demand in order to reduce the carbon footprint in the shipping industry stringent international emission policy, the best cost- effective alternative fuel and significant rise in government initiatives supporting LNG adoption.According to a research report from Energias Market Research…
Offshore Optimism is Cautiously on the Rise
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…
OSVDPA Accredits Texas A&M Maritime Academy
A&M becomes first U.S. Maritime Academy to teach accredited DP courses.The Offshore Service Vessel Dynamic Positioning Authority (OSVDPA) has announced that Texas A&M Maritime Academy (TAMMA) is accredited to provide OSVDPA courses to its cadets. TAMMA, in Galveston, Texas, is the first Maritime Academy in the United States to be accredited by a dynamic positioning operator (DPO) certification body.In announcing the accreditation, OSVDPA Executive Director, Aaron Smith, said, “The OSVDPA Board of Directors and our staff are very excited to issue this accreditation.
The ABB Electric Tow Boat Beckons to Inland Operators
Long a staple for offshore service providers, a more compact and carefully designed version of the diesel electric option is now available for inland pushboats. For budget conscious operators (and who isn’t, in this environment?), the stars may finally be aligned.For many years, electric propulsion has proven to be a viable propulsion solution for many different types of vessels. Most familiar to workboat stakeholders would be the advent of the ‘diesel electric’ offshore serve providers (OSV) that became commonplace during the offshore boom era.