A rebuilt floating processing unit has been handed over to a Greek owner while a Dutch operator places orders for additional renewables support vessels. Designs have meanwhile been selected for crewboats for a UK customer and jackup barges that will be deployed in the Middle East. Converted FSRU...
Hot on the back of Britoil buying Vroon’s fleet of 30 offshore support vessels (OSVs), and Golden Energy Offshore taking another five from the Dutch owner, last week’s big offshore deal was Abu Dhabi’s AD Ports buying the “eastern fleet” of ENAV. AD Ports has bought these ten vessels trading in...
“Our wind industry, for instance, is a European success story,” European Commission President Ursula von der Leyen recently said. “But it is currently facing a unique mix of challenges.” We’re no fan of Ms von der Leyen, a nepo-baby whose incompetence as German Defence Minister was rewarded not with the sacking she so richly deserved, […]
Last week we looked at Britoil’s acquisition of 30 offshore supply vessels (OSVs) from Vroon for a price we estimated to be in the region of US$239 million, and the acquisition of the Vroon Offshore Services management teams in Singapore and Italy. We noted how the Dutch Bank ING had foolishly cut a side deal […]
Finally, Singapore-headquartered Britoil announced last week that it had completed the purchase of most of the offshore fleet of Vroon, the Dutch ship-owner. Britoil bought 29 offshore support vessels, plus a small oil spill response vessel from Vroon. Golden Energy Offshore had announced in August that it was buying four large PX121 design platform supply […]
One of the delights of the offshore market recovery has been the surge in charter rates for platform supply vessels (PSVs) around the world. Tidewater’s triumphant presentation at the Barclays CEO Energy Conference earlier this month showed the potency of the market recovery that the company has driven ever onwards and upwards after its acquisition […]
This week was a great week for Transocean – the company announced it had secured a three-year award for the newbuild ultra-deepwater drillship Deepwater Aquila with Petrobras for work offshore Brazil starting next year on a day rate of around US$443,000 plus 90 days’ worth of mobilisation fees. In 2021, Transocean bought the rig for […]
The post COLUMN | Unlucky for some! Scotland’s Ferries; Argentina’s YPF Nationalisation; SBM sued by whistleblower; BP’s CEO quits [Offshore Accounts] appeared...
Sometimes the inevitable needs to happen before things can change. Failure can be a catalyst for action. At other times, it can just be part of a repetitive cycle of doom. This week, we look at the world’s ugliest offshore construction company, which faces more grief, a wind turbine manufacturer whose woes we predicted 18 […]
The post COLUMN | Changing course: McDermott restructures (again); Siemens Gamesa bleeds (again); UK wind auction fails [Offshore Accounts] appeared first on Baird Maritime.
Kylie Minogue has a new pop single out this week, called Tension, which is most appropriate. There’s tension in the Eastern Mediterranean, tension across the offshore wind industry, as another major operator takes a big write off, and tension in Maersk Supply Service, where 130 British staff face redundancy, the COO has been let go, […]
The post COLUMN | Tension: Chevron in Cyprus; Ørsted’s woes; Maersk Supply Service restructures; Borr’s Mexican receivables [Offshore Accounts] appeared first on
In 1964, the American civil rights activist Dr Martin Luther King Jr delivered a sermon at Wesleyan University in Connecticut, closing by saying, “The arc of the moral universe is long, but it bends toward justice.” How inspiring, how suitable for a motivational poster. But what about President Vladimir Putin’s lengthy and murderous tenure, what […]