The order book for the wind sector just continues getting larger and larger, even as companies continue not to make much money. Wind is the Augustus Gloop segment of offshore, gorged on investment, like the character in Roald Dahl’s Charlie and the Chocolate Factory, but liable to fall into a...
Deep Sea Supply
COLUMN | Too sweet: Tidewater; Hayfin Capital; Taiwan CSOVs; Island Offshore [Offshore Accounts]
Irish singer-songwriter Hozier recently managed to top the singles charts in Ireland, New Zealand, and the United Kingdom with the indie hit “Too Sweet”, which also peaked at number two on the Billboard Hot 100 in the US. The memorable chorus, “I take my whiskey neat, my coffee black and my bed at...
COLUMN | Winner takes it all: Boskalis binges with record profits, as Boluda takes silver and McDermott gets sued (again) [Offshore Accounts]
Whilst the first big consolidator of this offshore upcycle was Tidewater, rapidly followed by ADNOC and AD Ports of Abu Dhabi, Europe is also experiencing a quiet wave of consolidation. Driving this is the biggest of the “Big Four” lowlands dredging and offshore companies, Boskalis. But whereas the gains in Tidewater have been open to […]
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COLUMN | Tidewater plays Pac-Man with Solstad’s 37 PSVs: will the ghosts ever catch up? [Offshore Accounts]
There was really only one story in offshore last week. However, it wasn’t Saudi Aramco reporting a net profit of US$161 billion dollars for last year, the largest s ..
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COLUMN | I will survive: Seacor Marine channels Gloria Gaynor [Offshore Accounts]
Seacor Marine is a survivor. Most of its supply vessel-owning peers in America and internationally went bust in the extended industry downturn from 2015 to 2021, and were ..
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COLUMN | Quick updates: historic corruption in Nigeria and fraud in India: The Metals Company pilot tests Hidden Gem; Ocean Infinity’s Armada at sea and Red Rock sold; Cadeler raises more cash [Offshore Accounts]
Time for a quick and dirty look at three of our favourite topics – corruption in oil and gas, new marine technology, and the wind industry. Just to be clear, there is n ..
COLUMN | Days Five to Eight of Offshore Christmas: Hydrogen and CMB; Swire Pacific Offshore, Sanko and K-Line; Brent Crude; Ammonia, Eidesvik, Fortescue and MMA Offshore [Offshore Accounts]
Not long until Christmas now! As the big day gets closer, you will have seen Cairn Capricorn Energy, Vantage Drilling, North Star, Vard and Shearwater featuring in Part O ..
COLUMN | What Solstad tells us about the future of offshore: scrapping and shrinkage, emissions and reactivation [Offshore Accounts]
After last week’s Quick Updates (here) we turn our attention to one of the biggest and most important players in the North Sea and Brazil: Solstad Offshore. Solstad jus ..