Marine Link
Tuesday, January 16, 2018

Torch Offshore News

Torches' Midnight Rider at 100% Utilization

Torch Offshore, Inc. said that the Midnight Rider has had nearly 100% utilization since it began its first project on December 7, 2001. The Midnight Rider, a pipelay/bury barge, was purchased in June 2001 to expand the company's capabilities on the Gulf of Mexico (GOM) Shelf, both in water depth and pipeline diameter. The barge immediately entered drydock to return it to class and to make minor modifications to improve its capabilities, all completed on time and on budget. Since its introduction to the GOM Shelf, the Midnight Rider has completed 10 projects, laying and burying 196,555 ft. of pipeline. The vessel worked for a total of 102 days before returning to the dock in mid-March 2002 to make improvements on its jetting system for future projects scheduled to begin in May.

Torch Offshore's IPO Checks in at $16

Torch Offshore Inc., an undersea construction firm, priced its initial public offering at $16, the top end of its expected price range, underwriter UBS Warburg said on Thursday. The company offered 5 million shares and raised $80 million through the deal. Torch, which will trade under the symbol "TORC" on the Nasdaq, had expected the deal to price between $14 to $16 per share. The offering comes amid a spate of energy company IPOs, such as Global Power Equipment Group Inc. and Encore Acquisition Co. aiming to whet investor appetite for investments that gain with a perceived shortage of energy. Gretna, La.-based Torch, which serves undersea drilling operations of oil and gas companies in the Gulf of Mexico…

Sonsub and Torch Offshore Sign Frame Agreement

Sonsub has signed a one year Frame Agreement with Torch Offshore, L.L.C to provide ROV support onboard the Midnight Wrangler. Sonsub will be supplying our 200 Hp, in-house designed and built Innovatorâ work class ROV with a depth rating of 3,000m. The Midnight Wrangler is a deepwater construction/pipelay vessel capable of laying rigid pipe, flexible pipe, coiled tubing and umbilicals, utilizing up to four reels, in water depths to 3,000m and beyond. Because both vessel and ROV are able to work in ultra deep waters, both companies feel that this is a very well suited match for the demanding deepwater construction market. The spread will be available for work beginning August 1, 2003.

Torch Offshore Announces Shipyard Conversion Contract

Torch Offshore, Inc. announced that its subsidiary, Torch Express L.L.C., has entered into a contract with Davie Maritime Inc. of Quebec, Canada for the conversion of the Midnight Express at a cost of approximately $37.0 million. The total cost of the entire conversion project, including anticipated financial costs, will be between $80.0 million and $90.0 million. The 520-foot LASH (heavy transport) vessel will be converted into a DP-2 offshore construction vessel with the capability to work in varying water depths throughout the world. The Midnight Express has been at the Davie Maritime shipyard since April 2002 where the functional design was being performed.

Offshore:Torch Offshore Adds to Deepwater Fleet

Torch Offshore, Inc. entered into an agreement for the purchase of the Wave Alert, a 340-ft. cable-laying dynamically positioned ("DP-2") vessel, from Global Marine Shipping Limited for approximately $10.9 million. The purchase of the vessel is being financed by Global Marine and will be paid off by the over a five-year period. The company will rename this addition to its deepwater fleet the Midnight Wrangler. "We believe the addition of the Midnight Wrangler to our deepwater fleet continues to strengthen our position as a deepwater capable company. This vessel is in outstanding condition and has 15,750 square feet of deck space. With the addition of the crane, we feel this vessel can perform deepwater construction in all regions of the world in various water depths," Torch Offshore, Inc.

Torch Offshore Awarded ISM Certification

Torch Offshore, Inc. has been awarded ISM Certification by the American Bureau of Shipping (ABS). The Safety Management System of the Company was audited by the ABS and was deemed to be compliant with all of the requirements of the International Management Code for the Safe Operation of Ships and Pollution Prevention (ISM Code) as adopted by the International Maritime Organization. This ISM certification was granted after a thorough audit of the Company's pertinent records, interviews with Company personnel and observation of daily activities. This international certification is a first-time award for the Company and carries significant prestige in the worldwide offshore safety community. Lyle G. Stockstill, Torch Offshore, Inc.

Torch Offshore Adds to Deepwater Fleet

Torch Offshore, Inc. entered into an agreement for the purchase of the Wave Alert, a 340-ft. cable-laying dynamically positioned ("DP-2") vessel, from Global Marine Shipping Limited for approximately $10.9 million. The purchase of the vessel is being financed by Global Marine and will be paid off by the Company over a five-year period. The Company will rename this addition to its deepwater fleet the Midnight Wrangler. Delivery of the Midnight Wrangler to the Company is expected in March 2003 after the vessel has gone through its required drydock and all cable lay equipment has been removed. At that time, the company will take possession of the vessel and install a 125-ton crane. The company expects to use the vessel initially as a deepwater subsea construction vessel. Torch Offshore, Inc.

Feature: Staying the Course

Torch Offshore LLC is a Gretna, La-based integrated offshore contractor whose niche market is the installation of small diameter flow lines and related infrastructure on the Continental Shelf in the Gulf of Mexico (GOM). In 2002, the company had revenues of $68 million, laying 227 miles of pipe. Torch Offshore operates a fleet of nine vessels that lay the pipe and/or support this activity. The company is in the process of converting two large vessels that will give the company the ability to compete in the deepwater segment pf the market. "The company's strategy for the future is highly focused on the deepwater arenas of the world," said Lyle G. Stockstill, chairman of the board and chief executive officer of Torch Offshore.

Wojtaszczyk Joins Bisso Marine

Photo courtesy Bisso Marine

Bisso Marine announced the addition of Andy Wojtaszczyk. Wojtaszczyk joins the company as Subsea Services project manager, managing saturation diving and ROV operations. Prior to joining Bisso Marine, Wojtaszczyk served as ROV superintendent in Equatorial Guinea for Bienvenue Consulting Services/Hess Corporation and ROV project manager for Offshore Innovative Solutions, Inc. Before that, he was SAT superintendent aboard the DPII DSV Midnight Hunter for Torch Offshore, Inc. (www.bissomarine.com)  

Bisso Marine Promotes Posik

Photo courtesy Bisso Marine

Bisso Marine a provider of energy and maritime support services, announced the promotion of Glenn Posik to general manager of Diving and Subsea Services. In his new position, Posik manages all aspects of diving safety and diving operations. Before his promotion, Posik served as project manager for the Bisso Marine Pipeline Department. Prior to joining the company, he was project manager for Superior Diving Company Inc. and construction superintendent for Torch Offshore, Inc. (www.bissomarine.com)

General Maritime Goes Public, Raises $144 Million

General Maritime Corp., a crude oil shipping company, raised $144 million by selling 8 million shares in an initial public offering, the latest in a spate of energy companies to go public. New York-based General Maritime priced shares on Tuesday at $18 each, the middle of its expected range of $17 to $19 a share. Shares are expected to begin trading on Tuesday on the New York Stock Exchange under the trading symbol GMR. The company, which operates a fleet of oil tankers in the Atlantic basin, intends to use the proceeds to reduce debt and fund operations. he IPO, which was underwritten by joint bookrunners Lehman Brothers and ABN Amro Rotschild, was co-managed by Jefferies & Co.

Cal Dive Closes Agreement with Torch

Cal Dive International, Inc. with Torch Offshore, Inc. of the second review of the transaction by the Department of Justice. other assets related to the operations of the vessels. Katrina. year due to the need to drydock several of the vessels. significant upgrade work next year to reach its optimum pipelay capability. for all of the assets. oil and gas production.

Market Report: When Will the Turn Around Come?

It seems to be a soap opera without an end. "It is crazy…makes no sense at all," is a common observation. If you are in the oil and gas business, the number one question is, "When is the drilling going to pickup?" It is a question without an answer…at least through the first quarter of 2004. "Normally when prices are low and oil rises about $25 a barrel and gas goes above $2.50 per million cubic foot, everybody goes back to work," noted Roy Breaux, Jr., president of Breaux Bay Craft, Loreauville, La. a leading builder of crew/supply boats. "We drill ourselves out of recessions, but not this time, at least not yet" Breaux said. Breaux echoes the sentiment of almost everyone in the industry "The answer must lie in Houston because that's where the decisions on when to drill come…

Weldcraft Introduces Water-Cooled TIG Torch

The WP-280 TIG torch. (Photo: Weldcraft)

Weldcraft has a new option to help meet the needs of demanding water-cooled TIG welding applications. The new WP-280 water-cooled TIG torch has been designed with the company’s exclusive Super Cool™ Technology to provide consistent and dependable cooling performance. This technology consists of a design which improves the torch’s efficiency, resulting in less downtime due to overheating and a longer lasting torch. The WP-280 TIG torch body also includes an anti-rotation feature to prevent handle movement during welding and improve operator control.

Jotron Launches Multi-Purpose Strobe Light

Norwegian Jotron Electronics a.s introduces a new multi-purpose strobe light to be used as a personal safety equipment. The new handy pocket-sized rugged strobe light incorporates the very latest technology and weighs only 150 g, including batteries. The AQ-5 has two light sources: a high intensity xenon strobe light plus a low power torch. The high intensity strobe has a light output of 36 000 Pk lumen with a range of up to 6 nm and still an endurance of 12 hrs of continuous strobe operation. As a torch, it even has an endurance of 60 hrs of continuous operation. It runs on twin standard AA/LR6-sized alkaline batteries for easy replacement. It is activated manually by a large and rugged activation switch, or, optionally, by an automatic seawater contact.

Ocean Safety Debuts Exposure Torch Range

Photo: Ocean Safety

U.K. independent marine safety equipment supplier, Ocean Safety, will be showing its range of torches from Exposure Marine at Seawork for the first time. Exposure’s torches are already being used by organizations like the Norwegian Sea Rescue Association (NSRA), proving their fitness for the scrutiny of commercial maritime professionals visiting Seawork. Exposure Marine initially developed torches for the professional mountain bike market, and this led them to produce torches which are incredibly powerful, superlight and corrosion resistant, and therefore ideal for marine conditions.

New Cutting Machines for US Navy Shipyard

Image: Profile Cutting Systems

Profile Cutting Systems has completed the installation of two large Plasma & OxyFuel Cutting Machines for a U.S. Navy shipyard. Each system features dual Lincoln 400-amp Plasma systems, infinite rotation triple Oxyfuel beveling torches and introduced OxyFuel Cutting Torches. The oxygen and fuel mixtures for the Cutting Torch are totally CNC controlled, require no tools for tip changes, have internal automated height adjustment and automated spark ignition. Other features include Lincoln Burny Version 8 CNC, Bosch Sercos Servo Drives and Motors. 

Fendercare's Rowlands Cares for Olympic Torch

On Wednesday July 4, Paul Rowlands, Marketing Executive for Fendercare Marine was given the honor of being an official Olympic Torchbearer and carrying the flame through Fakenham, Norfolk. Paul was nominated to carry the torch in recognition of his fundraising efforts, following the death of his daughter, Alice at just 15 days old in 2007. Alice was born six weeks early and with a rare liver condition, neonatal hemochromatosis, at the Norfolk and Norwich University Hospital in September 2007. After just five days she was moved to King’s College Hospital in London where she died.

ESAB Introduces Smart Voltage Height Control System

The new Smart Voltage Height Control system (Photo: ESAB).

Florence, SC - ESAB Cutting Systems has developed the new Smart Voltage Height Control (SVHC) system. SVHC improves plasma cut quality and maximizes plasma consumable life by automatically compensating for electrode wear. By integrating a number of plasma and CNC features which have existed for many years, this new system lets plasma users receive maximum value from their cutting machines, improving performance and driving down the total cost of production. The SVHC system utilizes ESAB's PB-MB-1 plasma torch station…

ESAB Introduces SVHC for Plasma Arc Cutting

ESAB Cutting Systems continues its long history of plasma cutting system innovation with the new Smart Voltage Height Control (SVHC) system. SVHC improves plasma cut quality and maximizes plasma consumable life by automatically compensating for electrode wear. By integrating a number of plasma and CNC features that have existed for many years, this new system lets plasma users receive maximum value from their cutting machines, improving performance and driving down the total cost of production.

SBM Offshore Hands over FPSO Turritella to Shell

Turritella (Photo: Shell)

SBM Offshore said it has completed the transaction related to the sale of floating production storage and offloading (FPSO) vessel Turritella to Shell E and P Offshore Services B.V.   Shell exercised an option to purchase the FPSO from SBM Offshore in summer 2017.    The Turritella FPSO is contracted for the Stones deepwater development in the Gulf of Mexico, which began production in 2016.   The vessel has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.

Miller Expands Metal Cutting Offering

Photo: Miller Electric

Miller Electric Mfg. Co. announced that it has consolidated the Smith Equipment oxy-fuel cutting equipment product line under the Miller brand. The consolidation expands the current Miller metal cutting offering, which includes a variety of portable plasma cutting packages. The oxy-fuel product line will continue to be manufactured in Watertown, S.D., to the same high quality standards. The only difference is that the name on the product will change to Miller, the company said.

ESAB Debuts Oxy-fuel/plasma Cutting System

Courtesy ESAB

ESAB Cutting Systems introduces Crossbow, a compact oxy-fuel/plasma CNC cutting system that is portable and economical. According to ESAB , the machine’s size and weight make it easy to transport as the application requires. Automated functions and a user friendly CNC provide powerful, versatile, oxy-fuel or plasma processing in a value-minded package. Crossbow is suited for trade schools, small fabrication shops, maintenance and repair shops, or for portable use within large facilities or at construction sites.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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