Korean Shipbuilders Buoyed By High Oil Prices
The sky-high price of international oil causing jitters in many sectors of the economy is being met with rather more cheer by Korean shipbuilders. High oil prices have resulted in a surge in orders for crude oil drilling facilities, which are the second-most profitable business for shipbuilders after liquefied natural gas vessels, according to a report on inadaily.com. Sales of oil drilling facilities this year at the top three shipbuilders in Korea - Hyundai Heavy Industries Co., Samsung Heavy Industries Co., and Daewoo Shipbuilding and Marine Engineering Co. - amounted to $4.7 billion as of last month. To put this in context, sales of such products at the three companies ran to just $1.8 billion for the whole of last year.
Stena RoRo Places an Order for LNG Newbuild
Stena RoRo places an order for a further newbuild and signs a 10-year charter contract with Brittany Ferries, said a press release from the company. The vessel now ordered, which will be built for LNG operation, is the sixth in the so-called Stena E-Flexer RoPax class with delivery set for autumn 2021. Stena RoRo has a further two options with the Chinese shipyard AVIC International. At the same time, the newbuild has been signed to a 10-year charter with the French ferry shipping company Brittany Ferries.
IADC Presents Sea Safety Awards
The International Association of Drilling Contractors (IADC), North Sea Chapter once again recognized the very best in safety performance at its annual Safety Awards Ceremony held in Aberdeen. Julian Hall of Ensco, North Sea Chapter Chairman, said that it was important to recognize the contributions of individuals, teams and companies to the continuing safety of the industry. “It has not been an easy year, with safety dominated by understandable concerns regarding helicpter reliability.
Concordia Boosts Tanker Biz
To prepare for a gradually strenghthening tanker market, Concordia Maritime decided to participate in three suezmax tankers chartered in by Stena Bulk. The 158,000 dwt vessels were built in Korea between 2012-2014. The contracts are for 12 months, with an option to extend until the end of 2019. After delivery in May and July, the vessels will be employed on the spot market through the Stena Sonangol Suezmax Pool. Concordia Maritime’s share in the vessel charters is 50%. The contracts also include a profit-sharing clause with the contractual partner. “We continue to act based on our belief in a progressively stronger market from autumn 2018 onwards.
Oceanex Is Building Innovation
Seated at his desk with a view of St. John’s harbour, Oceanex Executive Chairman Captain Sid Hynes is highlighting the innovation in the Oceanex Connaigra, Oceanex Inc.,’s 210-m custom-designed container/roll on roll off (Con/Ro) ice class 1A ship that is presently coming to life in the Flensburger Schiffbau-Gesellschaft mbH & Co. (FSG) shipyard in Flensburg, Germany. Following four years of study and research, the design stage was completed. First steel was cut in October 2012, and the keel was laid on February 11, 2013.
Stena's Newest Is Sent Off To Shell International
Stena's newest drilling rig, Stena Tay, managed by Stena Drilling of Aberdeen, has been delivered from the Keppel FELS shipyard in Singapore, for acceptance on contract by Shell International. Contracted by Shell for a primary period of 10 years, the rig will generate long term revenues in excess of $700 million over the contract's term. The rig was mobilized last May to drill the first well under the contract. With a displacement of 46,000 tons, the dynamically-positioned, deepwater semi-submersible rig is equipped to drill in water depths to 7,500 ft. (2,300 m) and wells up to 30,000 ft. (9,144 m). In order to meet the challenging demands of deep water drilling…
Brazillian Yard Preps To Ride Offshore Wave
As ship and boatyards in the Gulf of Mexico eagerly await 'Offshore Boom 2001,' it might behoove them to look at activities transpiring outside of their own backyard, as the business of building offshore rigs and vessels has truly become a global bonanza. For example, down south, way down south in Brazil, FELS Setal SA has become that country's preferred shipyard for offshore and marine services on account of its quality workmanship and on-time deliveries, after just one year of its formation. The 60/40 joint venture company between Keppel FELS Energy & Infrastructure Ltd. (Keppel FELS) of Singapore and the PEM Setal Group of Brazil has won a total of $120 million worth of contracts in this short time.
Stena Drilling Extends Inspection Contract with Sparrows
Sparrows Group has been awarded a three-and-a-half-year extension to its inspection services contract for Stena Drilling’s global fleet of drilling vessels. The contract scope includes carrying out LOLER lifting gear surveys, potential dropped objects surveys, cargo carrying unit (CCU) and non-destructive testing (NDT) inspections as well as rig specific maintenance. As well as an extension to the contract, the scope has also been expanded to cover Stena’s entire fleet of seven vessels, including the Stena Don in Norway.
Wärtsilä to Supply for Oil Drilling Ship
Wärtsilä will supply six engines for reportedly, the world's largest oil drilling ship. The 46 MW order, received in October, also includes ancillary equipment in addition to the engines. The vessel is being built by Samsung Heavy Industriels Co. Ltd. in Korea. Ordered by Stena Drilling Ltd, part of the Swedish Stena group, the vessel will be used for oil and gas exploration in the Norwegian and Barents Seas. Its completion is scheduled for the end of 2007.
High Safety Requirements for Ships in the North-East Passage
The Stena Polaris is one of the tankers in Stena Bulk’s fleet with the necessary technology, equipment and crew competence for a safe voyage via the Arctic. This is the ninth time that one of Stena’s ships will have sailed through the North-East Passage since 2011. The Russian authorities responsible for administering the North East Passage have exacting requirements on technology and equipment. Additionally, only during a few months every year does the ice situation allow ships to pass through the North-East Passage.
Rolls-Royce to Supply Rig Equipment for Samsung Heavy
Rolls-Royce has signed a contract to supply thrusters and deck machinery for two semi-submersible drilling rigs to be built at Samsung Heavy Industries in Korea for Stena Drilling. Rolls-Royce reported the value of the contract to be around £22.5 million. Rolls-Royce is a supplier of large thrusters and deck machinery to the offshore drilling market. So far the company has delivered 1,200 thrusters to close to 200 rigs and drillships, and mooring systems to 25 rigs. The rigs, two Moss CS60 harsh-environment semi-submersible drilling rigs…
Fairmount Fuji assisted drillship Stena Forth
Fairmount Marine’s multipurpose support vessel Fairmount Fuji has assisted drillship Stena Forth, owned by Swedish Stena Drilling, when passing by Cape Town, South Africa. Fairmount Fuji was contracted to perform several cargo runs. Stena Forth anchored offshore Cape Town for crew changes and replenishments. Fairmount Fuji is equipped with a spacious 280 square meters deck. This makes her ideal for the transport of goods. Fairmount Fuji sailed up and down between Cape Town port and Cape Town anchorage for a number of cargo runs.
ABB Wins Contracts Worth $110M
ABB has been awarded contracts worth $110 million to supply electrical power systems for twelve vessels and five offshore drilling rigs. • Total electrical power system packages for two semi-submersible drilling rigs for subsidiaries of Jon Fredriksen controlled SeaDrill Ltd (Subsea Drilling (III) Ltd and Subsea Drilling (IV) Ltd). The rigs will be built at South Korea’s Daewoo Shipbuilding and Marine Engineering, based on a GVA 7500 design with the first rig delivery in early 2008. • Total electrical power system package for one semi-submersible drilling rig for PetroRig I Pte Ltd/PetroMena ASA under management by Larsen Oil & Gas.
Fairmount Fuji Assisted Stena Icemax
Fairmount Marine’s multipurpose support vessel Fairmount Fuji has assisted drill ship Stena Icemax while making a stop-over at Cape Town. On request of the owner of Stena Icemax the Fairmount Fuji carried out several cargo runs from the port of Cape Town to the anchorage. Stena Icemax was under way from the Far East to French Guiana and required to make a stop-over at Cape Town for crew change and replenishment. Stena Icemax is a 228 meters long new build drill ship designed for deep water operations in harsh environments.
Athens Group Reports Record Year
Athens Group, an independent consulting company that specializes in software-related risk mitigation and problem remediation for drilling and rig control systems, announced a 66% increase in year-over-year sales during 2008 and a significant increase in booked business for 2009. New customers included Stena Drilling, Ocean Rig, Eni/Saipem, Total Nigeria, Encana, Anadarko and Nexen Energy. Repeat customers included Transocean, BP, Maersk Drilling, Total, Parker Drilling, Ensco, Repsol and Hydril. This customer activity indicates a strong understanding of the benefits of Drilling Technology AssuranceSM Services (DTA). “Drilling contractors and operators are too often forced to take rigs before they are really ready,” said Mike Haney, CEO at Athens Group.
Statoil Halts Angola Exploration, Cancels Rig Contract
Norway's Statoil has halted its exploration campaign in Angola after several disappointing wells and canceled a rig contract with Stena Drilling, the firm said on Friday. "The costs of terminating the operations and associated services including the Stena Carron rig contract will be onerous contract and expensed in fourth quarter amounting to approximately $350 million," Statoil said in a statement. The firm said that its 2014 guidance for exploration costs at $3.5 billion was unchanged. Reporting by Nerijus Adomaitis
Energean Israel Awards Contract to Stena Drilling
Energean Oil & Gas announced that Energean Israel has signed a contract with Stena Drilling for the development drilling of the Karish Field, offshore Israel. Pursuant to the contract, Stena Drilling will deploy the Stena Forth drillship (or such substitute as may be agreed by the parties) to drill three development wells in Q1 2019 (with provision made for further options), subject to Energean’s Final Investment Decision (FID) regarding the Karish and Tanin gas fields. The Stena Forth…
Stena Drilling Signs Contract with Nexen Petroleum
Offshore driller Stena Drilling has signed a contract with Nexen Petroleum U.K. Limited for the Stena Spey drilling rig. Stena said in a press release that the drilling campaign will last around 110 days with a potential additional option well on the Golden Eagle field, UK Central North Sea. The drilling campaign will commence on completion of the current well with Repsol-Sinopec. "Stena Drilling is very pleased to be working with Nexen Petroleum U.K. Limited and this workscope presents another exciting new opportunity for the Stena Spey and the crews," said a statement.
Statoil Charter Three Rigs for Norwegian Shelf
Statoil & its partners contract the 'Bideford Dolphin', 'Stena Don' and 'Scarabeo 5' drilling rigs for work on the Norwegian continental shelf. The contracts have a total value of NOK 9,17-billion, excluding potential options, and the rigs will be used for production drilling for several fast-track developments as well as drilling and completion on the Norwegian shelf. "Securing three rigs in the current market represents a real achievement for the Norwegian shelf. The rig capacity we have secured in these contracts will contribute to achieving our production targets towards 2020…
Statoil Cancels Rig Contact
Statoil decided to cancel the contract with Stena Drilling for the mobile rig Stena Don. The rig has been on contract to Statoil since February 7, 2014, performing operations for the Troll and Fram licences. The original contract termination date is February 7, 2017. The cancellation will take effect after the plugging activity on the Troll field has been completed, in early November. After this, Stena Don was committed to the Fram licence. However, the licence does not have any work program for the rig, nor does Statoil have any other activities where the available capacity can be used.
Athens Group Third Year of Growth
Athens Group announced a 64% increase in year-over-year revenue for 2009 as well as a 225% increase in booked business for 2010. Athens Group is experiencing a growing demand for its Drilling Technology Assurance (DTA) Services on newbuilds and existing fleets as drilling contractors and operators become increasingly aware of the need for control systems and software engineering expertise on today’s high-specification assets. In 2010, Athens Group’s Proven Practices Methodology will be used by a growing base of customers to reduce Non-Productive time (NPT) and improve safety during all phases of the rig lifecycle including construction, operations, annual audits, and refurbs.
Semi-submersible Rig Stena Don Hot Stacked
Stena Drilling has selected Semco Maritime’s facilities at Hanøytangen for a warm stacking of the offshore drilling rig Stena Don. The rig will be warm stacked at the Hanøytangen yard in Bergen, ready for future work, explains Business Development Manager Øistein Tømte, Semco Maritime. Stena Don arrived at the yard November 16 and has previously been on a contract in the Troll field in the Norwegian sector of the North Sea. Stena Don is a class 3 semi-submersible rig built in 2001, and has recently been upgraded with a modern equipment package.
Stena Oil Rolls Out Scandinavia's Largest Bunkering Terminal at Frederikshavn
Stena Oil has signed an agreement to create a new marine fuel terminal in the Port of Frederikshavn. The facility will be fully adapted for the new Sulphur Directive 2020 and its location will reduce the distances travelled by bunkering vessels. The oil terminal will be the largest of its kind in Scandinavia, with a capacity of 75 000 cubic metres. "We are delighted to be developing our business in Frederikshavn. We will create a state-of-the-art terminal that can handle all fuel types that meet the IMO’s global sulphur directive, which comes into effect in 2020.