GMG Acquires Fugro’s Trenching, Cable Laying Business
Global Marine Group (GMG) will acquire Fugro’s trenching and cable laying business in exchange for an equity stake of around 24 percent in the combined business valued at $65 million, and a one year secured vendor loan of $ 7.5 million. Fugro said it will realize a gain on this transaction, valued at approximately $73 million. GMG is a supplier of subsea cable installation and maintenance services in the telecoms, offshore renewables, power and oil and gas market segments. The…
US Joiner Announces Acquisition of Infinity Marine Offshore
Affiliates of US Joiner ("US Joiner") announced today the acquisition of Infinity Offshore Marine, LLC ("Infinity"). Infinity is a provider of turnkey marine joiner solutions to the offshore oil and gas market. The company's headquarters is in Houston, TX and it has operations in Brazil. This acquisition will enable US Joiner to further establish its position in the offshore oil and gas market segment and provide it a presence in Brazil. US Joiner is an independent domestic provider of turnkey marine joiner and furniture solutions for U.S. Government and commercial customers.
Panama Canal Sets Record Annual Cargo Tonnage
Following the close of its 2017 fiscal year (FY17), the Panama Canal announced that the waterway welcomed a record 403.8 million Panama Canal tons (PC/UMS) of cargo in FY17, the largest amount of annual tonnage ever transited in its 103-year history. The 22.2 percent increase from the previous year can be directly attributed to the added capacity provided by the Expanded Canal. According to figures, the Panama Canal transited a total of 13,548 vessels during its FY17, representing a 3.3 percent increase compared to totals the year before.
PBES Scores DNV GL Type Approval
Designer and manufacturer of high power lithium-ion energy storage PBES (Plan B Energy Storage) said it has received DNV GL Type Approval of the PBES energy storage system for use in commercial marine, offshore oil and gas and renewable energy applications. “PBES celebrates the certification of our systems to this highest standard,” said Brent Perry, PBES Chief Executive Officer. “Global reach and dominant position in classification across multiple markets make DNV GL the most important validation PBES can receive.” PBES said it expects the type approval to open global marine markets by providing customers with security in knowledge that their vessel will meet class standards.
Viatran Restructures Company
Viatran announced that it has restructured the company into divisions serving specific market segments. The new Oil & Gas Segment has been created to focus on product development and customer service in Viatran’s most important market. As part of the restructuring, Douglas Joy has been appointed to the newly created position of Oil & Gas Segment Leader, and Don Seewagen to the position of Sales Channel Manager Americas – Oil & Gas Segment. These two individuals will lead all sales, marketing and new business development efforts for this business unit.
Skangas Delivers Milestone Fuel Change
Skangas said its vessel Coralius has for the first time both cooled down tanks and delivered liquefied natural gas (LNG) in one operation. The receiving vessel LEG/C Navigator Aurora was supplied with just under 500 mt LNG in the middle of a voyage between Sweden and South Europe over October 7 and 8, 2017. Going from using diesel oil to LNG requires time consuming but necessary process of cooling down operation of the receiving ship’s fuel gas tanks from ambient conditions to minus 160 degrees.
Ocean Rig Withdraws Winding Up Petition
Ocean Rig UDW Inc., an international contractor of offshore deepwater drilling services, has announced that pursuant to an order of the Grand Court of the Cayman Islands Simon Appell of AlixPartners Services UK LLP and Eleanor Fisher of Kalo (Cayman) (formerly AlixPartners) have been discharged as joint provisional liquidators of the Company and its subsidiaries. The subsidiariesare Drill Rigs Holdings Inc. (DRH), Drillships Financing Holding Inc. (DFH), and Drillships Ocean Ventures Inc., (DOV) and together with UDW, DRH and DFH, the Scheme Companies.
LNG Market to Reach USD 20.6 bln by 2025
The global liquid natural gas (LNG) market is expected to reach USD 20.6 billion by 2025, growing at a CAGR of 12.7%, Research and Markets reported. Rising focus on development and expanding gas pipeline infrastructure and growing demand for natural gas from downstream sectors is a crucial driving factor for the industry. Decreasing LNG prices along with execution of favorable government rules and regulations, which are attracting FDIs & tax schemes are also conducive to industry growth.
Freudenberg acquires Vector Technology Group
Freudenberg Oil & Gas expands its position and expertise in the upstream segment of the oil and gas market with innovator in offshore sealing solutions. Freudenberg Oil & Gas announced that on January 11, 2013, 100% of the shares of Vector Technology Group, a major global supplier of high integrity sealing solutions for the oil and gas industry, were acquired by parent company Freudenberg Group, headquartered in Weinheim, Germany. The shares were acquired from the private equity firm HitecVision headquartered in Stavanger, Norway.
Search Suspended for Worker Missing in US Oil Platform Blast
The U.S. Coast Guard has suspended the search for a worker missing from an oil production platform in Louisiana's Lake Pontchartrain that exploded and caught fire late on Sunday. Missing is Timothy Morrison, 44, of Katy, Texas, the Coast Guard said in a statement. Seven other workers were sent to hospital with injuries in the incident. "The decision to suspend a search is never an easy one," Commander Zac Ford said in the statement. Coast Guard rescue crews battled 4 foot to 5 foot (1.2 meter to 1.5 meter) waves during the search, and a helicopter joined them at daybreak after overnight efforts failed to locate Morrison, officials said at a briefing on Monday.
US Shipbuilding: The Road Ahead
Matt Paxton, president of the Shipbuilder’s Council of America, shares with Maritime Reporter & Engineering News his insights on the opportunities and challenges ahead. The United States shipbuilding market is diverse and geographically widespread, tasked to build everything from the most sophisticated military warships on the planet to small ferries, and everything in between. As president of SCA since 2007, Matt Paxton has made it job one to make SCA a unifying voice for the collective industry, a champion of the industry in raising its profile and stature in political and business circles.
BP’s LNG Carrier Fleet is Growing
BP said it will take delivery of six new, state-of-the-art liquefied natural gas (LNG) tankers in 2018 and 2019 to support its expanding global LNG portfolio. BP’s finance partners KMarin and ICBC Leasing are investing more than $1 billion in the tankers. The vessels will join BP’s exixting fleet to help service a 20-year liquefaction contract with the Freeport LNG facility in Texas, as well as other international LNG projects in BP’s global portfolio. “These vessels will significantly increase BP’s ability to safely transport LNG to anywhere in the world, directly supporting BP’s global natural gas strategy,” said BP Shipping CEO Susan Dio. The new ships are designed to be about 25 percent more fuel efficient than their predecessors, BP said.
Anchor Handling Tug Supply Vessel Market Poised for Growth
The global market for anchor handling tug supply vessels is poised for growth from 2016-2020, according to a report by Research and Markets. In the report, which covers the present scenario and the growth prospects market based on total revenue generated from the different geographical regions, analysts forecast the global market for anchor handling tug supply (AHTS) vessels will grow at a compound annual growth rate (CAGR) of 13.88 percent during the period 2016-2020. “One trend which is boosting market growth is the rise in subsea vessel operations,” said an analyst from the research team.
Italy Breaks up Libyan Fuel Smuggling Ring
Sicilian police on Wednesday sought the arrest of nine people, including a suspected mobster, for running a Libyan fuel-smuggling ring in which at least 30 million euros ($35 million) of diesel was sold in gas stations in Italy and Europe. A Libyan, nicknamed the "boss", used small boats to steal fuel from a refinery in Zawiya, a port city west of Tripoli, a statement from the finance police said. The fuel, stolen from Libya's National Oil Corporation (NOC), was then transferred to a larger ship off the coast of Malta and brought to Italy. Police from the Sicilian city of Catania "documented in detail 30 voyages in which more than 80 million kilos of diesel fuel was imported," the statement said.
Intellian Introduces v60G Marine VSAT Systems
Intellian has announced a new addition to its range of VSAT communications antennas, the v60G. Designed for recreational, smaller commercial and oil and gas vessels, or for use in space-constrained installations, the v60G, a powerful redesign of the popular v60, provides exceptional performance, enhanced remote monitoring and control, reduced cabling, and unlimited azimuth. The new v60G provides seamless, uninterrupted broadband connectivity for worldwide on-demand communications, is compatible with a comprehensive list of service providers and ensures professional mariners and yacht owners reliable, unlimited connectivity at sea. The three-axis v60G has unlimited azimuth, eliminating cable wrap and the lengthy loss of signal connection as the system unwinds.
New Int’l Valve Group Created
Valco Group announced its entrance into the market for industrial valves. The new group, with revenues of about $100m in 2008, currently operates in the oil & gas, marine and energy & industry sectors. Valco Group has been formed from the Norwegian and French valve operations of the former Flowtech division of Technor Group. Valco Group, with its head office in Stavanger (Norway), has five operational units: The factory Westad Industri in Norway, the two French factories: Malbranque and SNRI…
SEA-3250-LT: Innovation in Offshore Wind Installations
GustoMSC is targeting the burgeoning U.S. offshore wind energy market with an innovative jack-up design that it claims will help to reduce risk and increase efficiency when installing units offshore: the SEA-3250-LT installation jack-up. Designed to be a safe, stable and solid platform to lift these heavy, delicate components to heights of more than 426 ft (130 m) in an area where technicians are performing assembly tasks at the same time. GustoMSC plays a pioneering role in the offshore wind installation market…
Rotterdam Boosts Container Throughput
The number of containers handled in the port of Rotterdam continues to grow. In the first nine months of 2017, the throughput of containers increased by 10.1 percent compared to the corresponding period in 2016, to a total of 10.2 million units (TEU). The port’s total throughput in that same period increased by 2 percent. In addition to containers, the key contributors to this overall growth were the agribulk and breakbulk segments. The port recorded a drop in the throughput of liquid bulk like mineral oil products.
No Clear Route to 2020 Sulphur Cap Compliance -Survey
The route to compliance with the International Maritime Organization (IMO) 2020 0.5 percent global sulphur cap is unclear for many vessel operators, according to a marine industry survey conducted by ExxonMobil. Some 70 percent of respondents saying that they do not believe the industry is ready for the deadline, highlighting an ongoing sense of confusion and lack of preparedness. The makeup of the marine fuel mix in 2020 and beyond is an area of concern, with wide-ranging views from the industry on how the landscape will evolve.
RSC Bio Solutions Make Several Staff Appointments
RSC Bio Solutions said it is focused on growing its business in key markets and has organized its sales team into segments focused on growing private and public waste, marine construction, marine transport, utility fleets, offshore oil and gas and wind power industries. With that, the company has made several new staff appointments in hopes of facilitating company growth. “One of many benefits of the RSC Bio Solutions product line is its versatility in providing high-performance…
Mackay Communication, Inmarsat Partner
Mackay Communications Inc., a worldwide marine electronics and airtime service provider, has announced it has signed a partner agreement with Inmarsat (LSE: ISAT.L) to distribute its award-winning Fleet Xpress service to the global maritime market including deep sea vessels, commercial fishing, oil and gas, defense, and cruise-passenger lines. Mackay will offer a complete end-to-end Fleet Xpress package including the full range of Fleet Xpress airtime service options and choice of approved antennas.
Russian Maritime Register of Shipping (RS, the Register) is going to participate in the International Conference on Development of Oil-and-Gas Resources of the Russian Arctic and CIS Continental Shelf (RAO/CIS Offshore). The event will take place at the LenExpo Congress Halls, St Petersburg, September 10-13, 2013. Vladimir Evenko, Head of RS Classification and Development Directorate will act as a co-chairman of the roundtable "Rules and Regulations Lying at the Base of Shelf Hydrocarbon Resources Exploration." Within the framework of the roundtable "Key Problems of Pipe System Design, Construction and Operation on the Arctic Shelf" the register experts will share the experience of RS Rules application to materials and products developed for subsea pipe lines.
Growth in Oil and Gas Sector Generates an Open Logistics Market
A new research report from Transport Intelligence (Ti) has suggested that due to a wave of new investment, the scope and structure of oil and gas exploration and production (E&P) has broadened extensively over the past decade, creating an array of opportunities for logistics service providers. This is, in part, due to the emergence of substantial E&P activity in new locations which acts to drive up logistics spend. Ti’s new report, Oil and Gas Exploration and Production Logistics 2013, identifies double-digit growth in the E&P logistics spend in Russia, Latin America, Africa and Asia Pacific for 2012. In Europe and the USA the market grew by 8% and 8.5% respectively.