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...
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...
A Norwegian project seen as key to powering offshore wind vessels without using any energy sources outside the wind farm has reached another milestone. Called the Ocean Charger Concept, the project was awarded NOK 38 million through the Norwegian Government’s Green Platform Initiative in December 2022.
“We are carrying out the largest restructuring of the Norwegian economy ever,” said Norwegian Minister of Trade, Industry and Fisheries, Jan Christian Vestre at that time. “Everything will become...
https://www.marinelog.com/news/video-ocean-charger-marks-a-milestone/
Harold Macmillan was supposedly once asked what the most troubling problem of his time as British Prime Minister was. “Events, my dear boy, events,” was his reply. I thought I had this week’s column nailed well in advance, but offshore is an industry especially susceptible to unexpected and hard to predict “events”. So, we must […]
The post COLUMN | Correcting course: Aramco and jackups; Siem Offshore and Kristian Siem; Ferguson Marine; MMA Offshore; Maersk/Svitzer [Offshore Accounts] appeared...
Norway’s Solstad Offshore ASA is looking at the potential of methanol-fueling for reducing GHG emissions from its fleet. About half of its more than 100 vessels are powered by Caterpillar engines and it has entered into a memorandum of understanding (MOU) with Caterpillar Marine and and Cat dealer Pon Power AS to identify and evaluate its options.
“As part of our effort to help the maritime industry achieve a reduced-carbon future, we’re committed to supporting our customers’ climate-related...
https://www.marinelog.com/offshore/solstad-offshore-inks-mou-on-methanol-with-cat-and-pon-power/
We’ve said it before and we will say it again; if you want to meet the movers and the shakers of the offshore industry, you don’t need to pay big bucks to attend an expensive conference. Instead, you simply have to go to the public gallery in court, and watch them battle over millions of […]
The...
Following divestiture of its PSV fleet to Tidewater, Skudeneshavn, Norway, based Solstad Offshore ASA is in the midst of a refinancing that you can read all about here.
Meantime, the company reported today that two of its vessels have been awarded contracts in Australia.
The CSV Normand Australis has been contracted by a subsea contractor for a minimum of 150-days firm, with options to extend thereafter. The contract will commence during fourth quarter 2023.
Additionally, says Solstad Offshore,...
https://www.marinelog.com/offshore/solstad-books-new-contracts-in-australia/
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...
Offshore is a cyclical industry; when assets are at their cheapest, nobody wants to buy them, and nobody will lend money to acquire offshore vessels and rigs. If only I had had the foresight to buy Tidewater stock in May 2020 when it traded below US$5 per share, as opposed to US$68 on Friday. But...
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 […]