Stanford Marine in Talks About Sale of Business
Creditors of Stanford Marine Group (SMG), which has links to troubled private equity firm Abraaj, are in talks with three potential buyers, sources familiar with the matter say.Banks are overseeing control of Dubai-based SMG after it failed to meet the terms of its debt obligations due to financial stress linked to a steep fall in chartering rates, the sources said.SMG, which operates offshore supply vessels that service the oil and gas industry, is 51 percent owned by a fund managed by Abraaj.
Stanford Secures Long Term PSV Charter in Mexico
Stanford Marine announced today from its Dubai headquarters that it has secured a three-year contract for one of its 87-meter Platform Supply Vessels (PSV), Stanford Bateleur, in Mexico. Stanford Bateleur was awarded a long term contract with Mexiship in Mexico. Before commencing her long term charter in Mexico, Stanford Bateleur will be in Dubai to undergo some project specific modifications. The Bateleur has been working on charter in Malaysia with Haliburton and in Qatar with Maersk Oil, since her delivery in early 2013.
Stanford Marine Charters Out PSV
Dubai headquartered regional offshore marine business, Stanford Marine, says it has secured a 3 year contract with Mexishi for one of its 87m Platform Supply Vessels, 'Stanford Bateleur', in Mexico. Before commencing her long term charter in Mexico, Stanford Bateleur will be in Dubai to undergo some project specific modifications, having been working on charter in Malaysia with Haliburton and in Qatar with Maersk Oil, since her delivery in early 2013. Pemex, the end user, will operate the vessel as an “Injector Vessel” out of the port of Dos Bocas, in the state of Tabasco. The Bateleur will join her smaller sister vessel, the 58m DP1 Stanford Goshawk, which has been working out of the neighboring port of Cd. Del Carmen in Campeche for the last 12 months.
New Anchor Handling Tug for Stanford Marine
Stanford Marine, a regional offshore marine business, announced today from its Dubai headquarters the delivery of the latest addition to its fleet. Stanford Mustang, a 50m DP2 Anchor Handling Tug was specially designed to handle a specific charter in Qatar and was built at Fujian Mawei shipyard in Fuzhou, China. The vessel has a special low air draft to facilitate her ability to transit beneath the low bridges encountered at offshore facilities and has a Bollard Pull in excess of 60T, which makes her a valuable addition to the Stanford fleet. Stanford Mustang is now on her way to Dubai, U.A.E.
Stanford Hawk to Support Total E&P
Stanford Marine announced from its Dubai headquarters that it has secured a five-year contract with Total E&P Angola for Stanford Hawk, the latest addition to its fleet. Total E&P Angola (TEPA) awarded Stanford Marine a five-year contract, with two two-year options, scheduled to commence by the beginning of February 2014. The Stanford Hawk will be supporting the process and storage activities of TEPA, by transporting personnel and cargo, as well as assisting in safety standby duties.
Stanford Marine Fleet Gains 75m Diesel Electric PSV
Stanford Marine, a regional offshore marine business, announced today from its Dubai headquarters the delivery of the latest addition to its fleet. The Stanford Hawk, a 75m diesel electric platform supply vessel (PSV) is one of two sister vessels being built at the Fujian Mawei shipyard in Fuzhou, China. The Hawk and her sister due for delivery by end of the second quarter 2014, the Stanford Eagle, are modern closed bow designed PSV’s with DP2 and FiFi1 notation. The vessels have excellent storage capacities for fluid and products below deck and a usable deck area of 700m2…
Dynamic Positioning Key to Gulf Offshore Risk Management
There are a number of DP-equipped vessels currently in operation in the Gulf, with the majority of new build deep water vessels opting to fit DP during the construction phase. This increasing use of DP means that there is growing demand for highly qualified personnel, at a time when many existing operators are in full time employment and the numbers of those newly-qualified are still learning the trade, leaving employers struggling to adhere to stringent operational safety standards.
Grandweld To Build Crane Barges for KOC
A steel cutting ceremony to signify the commencement of the construction of the first of four new class Crane/Workboats for Kuwait Oil Company (KOC) was held at Grandweld Shipyards in Dubai, United Arab Emirates on July 18, 2013. The contract was signed in February 2013, to design and build a series of four heavy-duty Crane / Workboat class vessels for Kuwait Oil Company. The ceremony was attended by KOC senior management team led by Mr. Hasan Al Bairami, Manager- Marine Operations. Grandweld’s Crane/Workboats are designed to meet the specific needs of KOC.
CrewInspector Pursues Business in Ukraine
CrewInspector, an online crew management software provider, recently signed up with number of crew recruitment and crew management agencies based in Ukraine to provide its crewing software for businesses in Ukrainian market. “We see that companies are looking for straight forward software solutions not requiring long set-up and integration. CrewInspector offers high quality solution at very attractive price and that’s the main reason why we are so popular among start-up and middle size crew management agencies. In the same time we fully satisfy the needs off larger organizations as well thanks to CrewInspector scalability,” said Andy Lipsberg, co-owner of CrewInspector.
Offshore O&G Fuels Workboat Growth in Middle East
Middle East Workboats 2011 opens on optimistic note - 58 new OSVs required to support recent oil and gas contracts worth $10b The maritime commercial climate in the Middle East is in buoyant mood, especially for the workboats sector, as investment in the offshore oil and gas industry spurs demand for offshore support vessels (OSVs), according to industry experts speaking at Middle East Workboats 2011. The three-day conference and exhibition was officially opened by Awaidha Murshed Al Murar, Director of Shared Services, ADNOC, along with Khalifa M.
LNG as Alternative Fuel on Workboats Conference Agenda
Leading maritime services experts to debate key technical, environmental, health and safety issues of adopting LNG marine fuel at Middle East Workboats 2011. The future of LNG as a viable and sustainable alternative marine fuel for working vessels is one of the most eagerly-anticipated sessions taking place at Middle East Workboats 2011, the definitive event for workboat operators, builders and equipment suppliers. Taking place from 3-5 October, 2011 at Abu Dhabi National Exhibition Centre…
GMMOS Group Rebrands as Stanford Marine Group
UAE-based GMMOS Group has rebranded to Stanford Marine Group (SMG), according to a report on TradeArabia News Service. The group has two main divisions focused on the marine sector: Stanford Marine (OSV chartering) and Grandweld (shipbuilding and repair). Stanford Marine has recently taken delivery of several new OSVs, such as the three ultra-modern 58-metre DP1 platform supply vessels (PSVs) Condor, Osprey and Caracara - which are already chartered – and will be welcoming in its fleet further four new vessels this year, amongst which will be two 87-metre diesel electric DP2 PSVs with methanol carrying capacity. With a fleet utilization level in excess of 90 percent for its current 35-vessels strong fleet…
ABS Nautical Systems Expands in Dubai
ABS Nautical Systems announced that they have been selected as the fleet management software provider of Dubai company Stanford Marine, LLC a provider of offshore marine support services. ABS Nautical Systems’ work with Stanford Marine marks continued expansion in Dubai, with several companies now using the NS5 software suite in the Emirates. Stanford Marine is changing from a paper and Microsoft Excel system to ABS Nautical Systems’ software suite NS5, a fully integrated system to allow for a more streamlined approach to fleet management. Stanford Marine will implement the Maintenance & Repair and Vessel Drawings modules on a total of 25 vessels, all of which are classed with ABS.
Stanford Marine Grows Fleet
Established in 1997 as the vessel owning and operating branch of the United Arab Emirates-based Stanford Marine Group, Stanford Marine is in the midst of a major fleet expansion. In 2009 the firm acquired five vessels and acquired a company that had ten vessels on order including six new 190-ft off shore supply vessels. This brought the fleet to nearly 40 vessels and expanded the company’s operational area to include Southeast Asia. The six 190-ft off shore supply vessels are being built at China’s Fujian Mawi Shipbuilding Ltd.
GMMOS Stanford Marine Acquires MMPL
UAE based GMMOS Group, backed by Abraaj Capital and Waha Capital, has acquired 100% of the share capital of Minnow Marine Projects Limited (MMPL) through its newly formed Singapore based division Stanford Asia. MMPL founder and CEO Robin Reeves will remain actively involved in the further development of the combined group as head of Stanford Asia. According to Elias Nassif, CEO of GMMOS Group, Stanford plans to make additional acquisitions in the OSV sector while expanding its geographic presence in 2010 with new regional offices in India and West Africa. MMPL's fleet of offshore support vessels (OSV) comprising four Platform Supply Vessels (PSV) and six Multirole Utility Vessels (MUV) valued in excess of $200m…
A New Swan In Dubai
On Valentine’s Day this year the crew boat Stanford Swan was delivered to Stanford Marine of Dubai by Grandweld Shipyard also of . Designed by Grandweld, the 41 by 7.3-meter vessel has a molded depth of 3.5 meters. This volume allows tankage for 15,873 gallons of fuel and 10,582 gallons of water. In addition to accommodations for a crew of ten, the new boat has seating for 60 offshore personnel. The aft deck can carry 35 tons of cargo. A HYPAC HHAW151611 anchor winch is mounted on the foredeck. Main engines are three Cummins KTA38-M2 each producing 1350 hp at 1950 RPM and swinging 5-bladed fixed pitch propellers slightly over square with 43.3 in diameters and 45.35 inches of pitch. The props are mounted on 3.8-meter long shafts with 114.3 mm diameters.
New Crewboat for Dubai Shipping Firm
In February Inchcape Shipping of Dubai took delivery of the 4,200-hp crewboat Inchcape – 20. At sea trials in Dubai anchorage the boat demonstrated speeds of 26.5 knots. Main engines are three Cummins KTA38 M2 engines each rated for 1,400 hp at 1,950 rpm. The engines turn into ZF 4540 reduction gears with 2.571:1 ratios and turning Teighnbridge 5-blade 43 x 52-in. fixed-pitch propellers. The 105-ton displacement vessel is 33.5-m long with a 6.7-m beam and a 3.5-m molded depth midships. The after deck provides a 15 x 5.3-m clear deck space with a capacity for 30 tons. Tankage is provided for 10,500 U.S. gallons of fuel and 3,500 gallons of water. Accommodation is designed for up to nine crew and seating is provided for 50 passengers.
Profits surge for Arabia's oldest marine yard
Jadaf Dubai, Arabian Gulf’s oldest ship repair and industrial marine yard has recorded a 35 per cent jump in revenues for the year 2005, compared to the corresponding period in 2004. The announcement comes close on the heels of a seven per cent increase in its ship lifting and repairing activities, owing to greater demand for its service and expertise. The yard’s two docks repaired and carried out maintenance of a total of 2347 ships during 2005, with 166 more ships being docked, undocked and re-docked as compared to the 2181 vessels it catered to during 2004.The excellent revenues were posted in part due to the increase in surcharge for berthing in-out and block arrangement, cleaning services, docking and undocking charges, wharfage charges and bank interest earned on monies.