PSVs

Mystery owner orders up to 10 MPSVs at PaxOcean

PaxOcean MPSV

PaxOcean, a subsidiary of Singapore’s Kuok Group says that an undisclosed “leading Greek shipowner” has awarded it a contract to build up to ten state-of-the-art multi-purpose service vessels (MPSVs).

Designed by Salt Ship Design, the 5,000 dwt, DP2 vessels will be built at PaxOcean’s shipyard in Zhousan, China, with deliveries scheduled from third quarter of 2026 onwards. D

PaxOcean says that they incorporate the latest advancements in offshore vessel technology. and “will stand out for their...

https://www.marinelog.com/offshore/mystery-owner-orders-up-to-10-mpsvs-at-paxocean/

COLUMN | Drip, drip, drip: Marinakis orders eight PSVs; DSOC jackup moves; Paratus and Northern Ocean raise capital [Offshore Accounts]

There was only one story in offshore this week, the news that Greek shipowner Evangelos Marinakis has doubled down on this bet on the platform supply vessel (PSV) market by making the single biggest order in the entire segment in the last decade. His Capital Offshore has placed an order for four firm diesel-electric, DP2, […]

The post COLUMN | Drip, drip, drip: Marinakis orders eight PSVs; DSOC jackup moves; Paratus and Northern Ocean raise capital [Offshore Accounts] appeared first on Baird...

https://www.bairdmaritime.com/offshore/column-drip-drip-drip-marinakis-orders-eight-psvs-dsoc-jackup-moves-paratus-and-northern-ocean-raise-capital-offshore-accounts/

COLUMN | The demise of Diamond Offshore: Lessons for the future [Offshore Accounts]

Last week saw Noble Corporation cement its place as the great consolidator in the offshore drilling industry recovery. Seven days ago, Noble announced that it was buying Diamond Offshore Drilling in a stock plus cash transaction valuing the company at around US$1.6 billion, a deal unanimously...

https://www.bairdmaritime.com/offshore/column-the-demise-of-diamond-offshore-lessons-for-the-future-offshore-accounts/

COLUMN | Augustus Gloop in wind? Cadeler; Integrated Wind Solutions and Sumitomo; North Star newbuild [Offshore Accounts]

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...

https://www.bairdmaritime.com/offshore/column-augustus-gloop-in-wind-cadeler-integrated-wind-solutions-and-sumitomo-north-star-newbuild-offshore-accounts/

COLUMN | What could possibly go wrong? Local content in Nigeria, Brazil, Saudi Arabia and Qatar [Offshore Accounts]

“They come over here, taking our jobs and stealing our women,” is a familiar refrain against foreigners all around the world, as likely to be uttered from Dublin to Durban, from Dusseldorf to Des Moines, and from Denpasar to Dubai (well, probably not the second part in the UAE, but we won’t dwell...

https://www.bairdmaritime.com/offshore/column-what-could-possibly-go-wrong-local-content-in-nigeria-brazil-saudi-arabia-and-qatar-offshore-accounts/

Capital dredging commences for Lowestoft Eastern Energy Facility in UK

Boskalis' suction dredger Sospan Dau

Associated British Ports (ABP) has confirmed the commencement of capital dredging activities at the Port of Lowestoft as part of the construction of the Lowestoft Eastern Energy Facility. The dredging covers the port’s Outer Harbour and channel approaches. Up to 170,000 cubic metres of sediment...

https://www.bairdmaritime.com/marine-projects/dredging/capital-dredging-commences-for-lowestoft-eastern-energy-facility-in-uk/

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...

https://www.bairdmaritime.com/offshore/column-too-sweet-tidewater-hayfin-capital-taiwan-csovs-island-offshore-offshore-accounts/

Scotland’s Montrose Port opens shore charging facilities for OSVs

The newly opened shore power facility at Scotland's Port of Montrose

The Port of Montrose has become the first port in Scotland to provide a shore power service for offshore support vessels (OSVs). The new facility is the result of a £1 million (US$1.25 million) investment and collaboration between Montrose Port Authority and Plug Shore Power, the UK-based branch of...

https://www.bairdmaritime.com/shipping/ports/scotlands-montrose-port-opens-shore-charging-facilities-for-osvs/

SEACOR Marine will upgrade more PSVs for battery hybrid operation

Houston-headquartered SEACOR Marine Holdings Inc. (NYSE: SMHI) is to acquire four state-of-the-art energy storage systems from Kongsberg Maritime AS. They will be installed on four of SEACOR Marine’s platform supply vessels (PSVs), equipping them for battery hybrid operation.

The four vessels included in the contract are the SEACOR Ohio, SEACOR Alps, SEACOR Andes and SEACOR Atlas. Installation is expected to begin in December 2024 and to be completed by the second quarter of 2025. Once...

https://www.marinelog.com/offshore/seacor-marine-will-upgrade-more-psvs-for-battery-hybrid-operation/

Quintin Kneen upbeat on Tidewater outlook

In another indication of the continuing uptick in the offshore services sector, the largest player in the game, Tidewater Inc. (NYSE: Tidewater) yesterday reported third quarter revenue that president and CEO Quintin Kneen said “nicely exceeded our expectations.”

Highlights of Tidewater’s third quarter 2023 results

  • Revenue of $299.3 million, a 39.2% increase from the second quarter of 2023
  • Average day rate increased to $17,865 per day, $1,823 higher than the second quarter of 2023
  • Composite...

https://www.marinelog.com/offshore/quintin-kneen-upbeat-on-tidewater-outlook/

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