Topaz News

04 Jan 2019

Topaz Bags Wind Charter

Image: Topaz Energy and Marine

Dubai-based Marine logistics company Topaz Energy and Marine (Topaz) has signed an agreement with a north European contractor for the charter of Topaz's newbuild for offshore wind farms in the North Sea.The contractor will charter Topaz’s newbuild subsea vessel, Topaz Tangaroa, for work on renewable energy projects, primarily in support of offshore wind farms in the southern North Sea. The contract underlines the growing significance of offshore wind projects to Topaz.The oilfield…

09 Dec 2018

Tower Resources Hires Vantage Drilling for Cameroon Well

Topaz Driller. Image:  Vantage Drilling International

UK-based Tower Resources has announced it has contracted US offshore driller Vantage Drilling International to provide drilling operations at the NJOM-3 well offshore Cameroon. The well is located in Tower’s 100%-owned Thali licence.The Topaz Driller is a Baker Marine Pacific Class 375 jack-up, which was recently mobilised to Cameroon by NewAge as operator for the Etinde license for two appraisal wells and is currently employed in Gabon, informed a press release from the upstream oil and gas company.As announced on 1 November 2018…

02 Dec 2018

Shell Sells Upstream Interests in Ireland for $1.3bln

Image: Shell

Shell Overseas Holdings, an affiliate of Royal Dutch Shell plc, has completed the sale of its shares in Shell E&P Ireland Limited (SEPIL), which holds a 45% interest in the Corrib gas venture, for up to $1.30 billion, to Nephin Energy Holdings Limited (NEHL), a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB).A press release said that completion follows receipt of all necessary partner and regulatory consents and the transaction’s effective date is 1 January 2017.The transaction includes an initial consideration of $958 million (€840 million)…

08 Nov 2018

Reach Charters Topaz Tiamat

(Photo: Topaz Energy and Marine)

Norwegian based Reach Subsea said it has entered an agreement with Dubai headquartered Topaz Energy and Marine to charter newbuild light subsea construction vessel Topaz Tiamat for 2.5 years, plus three one-year options.The Norwegian-built vessel will be deployed under a cooperation agreement between Reach and Sweden's MMT. The team has been awarded several frame agreements for survey; inspection, maintenance and repair; and light construction within the oil and gas and renewable sector over the last year.Reach said the commercial terms of the charter agreement are confidential…

22 May 2018

Bibby Bags North Sea Contract

Howard Woodcock, chief executive of Bibby Offshore. (Photo: Bibby Offshore)

Bibby Offshore won a two-phase multimillion dollar contract with a leading oil and gas and production company. The contract, awarded in April, will see Bibby Offshore carry out IRM services across a number of the operators North Sea assets. Engineering work for this project has started, with the initial offshore phase due to commence in Q2 this year and a further campaign scheduled for Q3. Bibby Offshore’s multi-role diving support vessel, Bibby Topaz, will be the primary vessel utilised to carry out the base workscope…

01 Mar 2018

Vard Order Intake Zooms

Courtesy Vard Holding Ltd

With 13 new contracts secured in Q4 2017, VARD Holdings Limited's order intake of NOK 3.79 billion in the quarter increased the full year order intake ended December 31, 2017 to NOK 8.28 billion. The new contracts include a luxury polar expedition cruise vessel for a return customer, PONANT. The vessel is the first electric hybrid cruise icebreaker with dual fuel propulsion, featuring high-capacity batteries and LNG storage on board. The vessel is specially designed to take passengers to polar destinations.

14 Feb 2018

Scorpio Tankers Reports 4Q Loss

Photo: Scorpio Tankers Inc

Monaco-based tanker owner Scorpio Tankers has reported a widened net loss for the fourth quarter of 2017, reaching USD 41.5 million, when compared to the same quarter from 2016 when its net loss was USD 29.7 million. The shipping company posted revenue of $148.4 million in the period. For the year, the company reported that its loss widened to $158.2 million, or 73 cents per share. Revenue was reported as $512.7 million. Emanuele Lauro, chief executive officer and chairman of the board commented…

06 Nov 2017

Recent Vessel Sales: October 2017

Vessel sales for October 2017 (as of November 1) as prepared by Shipping Intelligence, Inc., New York. 10/29 - COASTAL NO.

29 Sep 2017

Scorpio Tankers Signs Sale-Leaseback with Bocomm

Photo: Scorpio Tankers

Scorpio Tankers has agreed to sell and leaseback five 2012 built MR product tankers (STI Amber, STI Topaz, STI Ruby, STI Garnet, and STI Onyx) to Bank of Communications Financial Leasing  (Bocomm Leasing). As of today, three of the five transactions have been completed, which has increased the Company’s liquidity by approximately $21 million in aggregate after the repayment of the outstanding debt. The sales price for each vessel is $27.5 million, and the Company will bareboat charter-in the vessels for a period of seven years at $9,025 per day per vessel.

20 Sep 2017

Topaz Signs with Orange for a Maritime Connect Solution

Topaz Commander (Photo: Topaz)

Dubai-based Topaz Energy and Marine has signed an agreement with Orange Business Services for a Maritime Connect solution that connects its fleet at sea and supports the corporate network. Topaz is an offshore support vessel company for the global energy industry. The Orange integrated communications platform increases the efficiency of the fleet, lowers cost and improves the onboard experience for crew. Under a three-year agreement Orange is initially connecting 39 vessels from the Topaz fleet…

10 Aug 2017

Euronav Responses to a Weaker Tanker Market

Photo:  Euronav

The Belgium-based  crude oil tanker company Euronav has taken affirmative action in response to a weaker tanker background, said a press statement from the company. The Company has a strong balance sheet with low leverage and access to over USD 800 million of liquidity following its entry into the debt capital markets during Q2. High quality fixed income (the FSO vessels and 4 x 7 year Suezmax time charters) secured via strong relationships and with visibility to 2025 provides…

11 Jul 2017

Aumann Named CEO of Oman Drydock

Stephan Aumann (Photo: Oman Drydock Company)

Stephan Aumann has been appointed by ASYAD (formerly Oman Global Logistic Group) board of directors as the new CEO of the Oman Drydock Company S.A.O.C. in Duqm/Oman. Aumann assumed the role June 15 and replaced the former CEO Jin Han Lee (DSME), who advised at the end of 2016 that he would be stepping down. With a bachelor's degree in naval architecture and a master degree in industrial engineering from the University of Applied Sciences in Kiel/Germany, the 50-year-old German…

05 Jun 2017

Recent Vessel Sales: May 2017

Vessel sales for May 2017 (as of June 1) as prepared by Shipping Intelligence, Inc., New York.

01 Mar 2017

Offshore Innovation: A Real ‘Riverboat’

Image: Vard

Central Asia is a booming oil region not far from the Persian Gulf. Energy companies ply the big lake to rack up staggering barrel counts at elephantine oilfields with names like Tengiz (Kazakhstan) or Kashagan (Azerbaijan). Painstaking, oil-fueled nation-building is underway across an oil province, where very shallow water hinders plant and equipment moves by platform supply vessels. Until now — new module-carrying vessels, or MCVs will float high-capital cargoes through Russia’s river system and across the Caspian shallows to Chevron’s Tengiz Extension project.

19 Feb 2017

Navy Handed Over Seychelles Ship Topaz After Refit

Topaz. Photo: Indian Navy

Seychelles Coast Guard Patrol Ship (SCGPS) Topaz has completed her Medium Refit and has been handed over to Colonel Simone A Dine, Commander Seychelles Coast Guard by Rear Admiral Narayan Prasad, NM, Admiral Superintendent, Naval Dockyard, Visakhapatnam on 16 February 2017. The ship underwent a Medium Refit at Naval Dockyard from March 2016 to January 2017. The event was held at Naval Jetty inside INS Circars and was attended by other dignitaries from Seychelles Coast Guard and Indian Navy.

31 Jan 2017

Bibby Topaz Charter Extension

DSV Bibby Topaz (Photo: Bibby Offshore)

Bibby Offshore, provider of subsea installation and services to the offshore oil and gas industry, said it has secured a long-term extension to the charter of its dive-support vessel (DSV) Bibby Topaz, owned by Volstad Maritime. The terms and conditions of the extended charter arrangement have been adjusted to reflect the current market environment. According to Bibby Offshore, the charter extension allows it to maintain and grow the group’s market share in the North Sea DSV market.

10 Nov 2016

Diversification Strengthens Vard’s Order Book

Following the recent closure of the Vard Niterói shipyard, VARD is now concentrating all its Brazilian shipbuilding activities on Vard Promar (Photo: Vard)

Designer and builder of specialized vessels Vard Holdings Limited announced its financial results for the third quarter ended September 30, 2016 (3Q 2016) and nine months ended September 30, 2016 (9M 2016). VARD said its diversification strategy is continuing to yield promising results, generating strong order flows in 3Q 2016. A total of seven new contracts were garnered by the group during the quarter, in addition to the confirmation of an order for four ice-class expedition…

17 Oct 2016

Vard Extends SCHOTTEL Propulsion Order

VARD 9 28 - 3 Module Carrier Vessels for KMTF. (For illustration only, courtesy VARD)

Having already secured the contract in early summer to fit 15 Vard design 9 21 module carriers, propulsion specialist SCHOTTEL has now also received a follow-up order to fit three further Vard design 9 28 vessels with 12 main and auxiliary units. The Norwegian Vard Group is building the first-mentioned 15 vessels for Topaz Energy and Marine, UAE, and the later three for KMTF, the National Maritime Republic of Kazakhstan. A total of 36 special variant SRP 340 Rudderpropellers (formerly SRP 1012) were ordered as the main propulsion units for all 18 carriers.

26 Sep 2016

Topaz Secures Tengiz Oilfield Contracts

Offshore support vessel company Topaz Energy and Marine has been appointed the technical managers of three vessels by a consortium comprising Blue Water Shipping A/S and Kazmortransflot (KMTF), in connection with the TCO developed Tengiz oil field in Kazakhstan. Under the terms of the agreement, Topaz will act as the technical managers for three newly designed Module Carrying Vessels (MCVs). The vessels will commence work in Q2 2018 for a minimum contract period of a little over two years. The vessels will be transporting oil and gas modules to the Tengiz oil field from transshipment bases in Kazakhstan. The Tengiz oilfield is operated by Tengizchevroil LLP; a Kazakh partnership that explores, develops, produces and markets crude oil, LPG, dry gas and sulfur.

27 Sep 2016

Topaz Secures Kazakhstan Contracts

Photo TOPAZ

Topaz Energy and Marine said it has secured contracts in connection with the development of the Tengiz oilfield in Kazakhstan during 2016. The two contract wins announced in the second and third quarter together represent revenue of more than $500 million. The two contracts bring Topaz’s backlog to approximately $1.6 billion. Under the terms of the main contract awarded by Tengizchevroil (TCO) to a consortium comprising Topaz and Blue Water Shipping A/S, Topaz will commission the construction of 15 Module Carrying Vessels (MCVs).

22 Sep 2016

Two VARD Module Carrier for Topaz Energy and Marine

Module Carrier Vessel for Topaz Energy and Marine Photo VARD

Vard Holdings Limited has secured a contract for the design and construction of two additional Module Carrier Vessels for Topaz Energy and Marine (“Topaz”). The vessels, of VARD 9 21 design and measuring 123 by 16.5 meters, are sister ships of a series of 15 identical Module Carrier Vessels previously contracted by Topaz for delivery from VARD’s shipyards in Tulcea and Braila in Romania, and Vung Tau in Vietnam. They will be operated by Topaz through a consortium led by Blue Water Shipping. One of the additional vessels will be built at Vard Braila and one at Vard Vung Tau.

05 Aug 2016

Navig8 Chemical Tankers Sees Income Rise

Photo: Navig8 Group

Navig8 Chemical Tankers Inc reported its net income at $9.6 million, against a net income of $2.9 million seen in the three months ended June 30, 2015. Continued growth of the company’s operating fleet with the delivery of Navig8 Turquoise, a 49,000 DWT IMO2 Interline-coated chemical tanker and Navig8 Sirius, a 25,000 DWT stainless steel chemical tanker, in the second quarter of 2016 and Navig8 Topaz, a -49,000 DWT IMO2 Interline-coated chemical tanker in July 2016. It has secured $286.2 million to finance the company’s newbuilding program.

25 Jul 2016

Navig8 Acquires Chemical Tanker from STX

Photo Navig8

Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Topaz, a 49,000 DWT IMO2 Interline-coated chemical tanker, from STX Offshore & Shipbuilding Co., Ltd. (“STX”). The Navig8 Topaz is the second STX vessel to be delivered under the sale and leaseback arrangements entered into with Ocean Yield ASA (“Ocean Yield”) announced on April 1, 2015.

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