Industry News

Brunvoll has signed a contract with Vard for the delivery of a comprehensive propulsion and maneuvering system for Cyan Renewables' new Service Operation Vessel (SOV).The vessel will have the first azimuth propulsion thrusters from Brunvoll with an 8-degree tilted propeller and nozzle, for enhanced performance during dynamic positioning operations.The delivery for the new SOV consists of two azimuth propulsion thrusters, two retractable azimuth thrusters, a tunnel thruster, and…

Cyan Renewables, a portfolio company of Seraya Partners, has entered into a strategic collaboration with Hyundai Asset Management to establish a robust vessel supply with strong local content for South Korea's offshore wind market.Cyan Renewables, an international maritime operator specializing in offshore wind support vessels, has signed a memorandum of understanding (MoU) with Hyundai Asset Management to facilitate the strategic investment in South Korea’s offshore wind supply chain.Under the MoU…

Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, a liquefied natural gas (LNG) regasification terminal and power plant.The study assessed site suitability, project design requirements, capital and operating costs, financial viability, financing options, climate resilience, and implementation and construction plans.Beginning with a site assessment that focused on the landscape of the area, regulatory restrictions and accessibility, the study…

Danish offshore wind installation firm Cadeler has secured vessel reservation agreements with Equinor and Polenergia joint ventures MFW Bałtyk II and MFW Bałtyk III, marking the first contract between the companies.Both MFW Bałtyk II and MFW Bałtyk III are 50% owned by Equinor and 50% by Polenergia.The aggregate potential value of the contracts to be negotiated during the pendency of the vessel reservation agreements is anticipated to fall within the range of $118-140 million.Operations are scheduled to begin in 2027…

Norwegian shipbuilder Vard has signed a contract with an undisclosed Taiwanese customer for the design and construction of two Commissioning Service Operation Vessels (CSOVs).The customer has appointed VARD to design and construct two CSOVs’ of VARD 4 39 design.This is a new design from VARD, said to be highly versatile all-round platform for sustainable windfarm support operations both as a service vessel for the wind farms and for the building and installation phase.The first vessel will be built…

Dutch-Norwegian floating solar company SolarDuck, in collaboration with Japanese partners, has completed the installation of Japan’s first offshore floating solar demonstrator which will be used to power electric vehicles and boats.Together with its project partners Tokyu Land Corporation, Kyocera Communication Systems Corporation and Everblue Technologies, SolarDuck launched the demonstration of its offshore floating solar unit as part of the Tokyo Bay eSG project.The demonstration will showcase the production of renewable energy from the offshore floating solar unit…

QatarEnergy has signed a long-term agreement with Qatar Gas Transport Company Limited (Nakilat), under which Nakilat will own and operate nine QC-Max class LNG vessels, the largest LNG vessels ever built.The nine QC-Max vessels, with a capacity of 271,000 cubic meters each, constitute half of the 18 advanced QC-Max class LNG vessels that will be constructed at China’s Hudong-Zhonghua Shipyard.To date, QatarEnergy’s fleet expansion program encompassed the execution of shipbuilding contracts and time charter agreements for 104 conventional LNG vessels and 18 QC-Max class LNG vessels…

Colombia's majority state-owned energy company Ecopetrol has held talks with big players ahead of a potential bid in an offshore wind auction organized by the country's government, Chief Executive Ricardo Roa said on Wednesday.Roa was speaking during a call with analysts regarding the company's financial results for the first quarter of 2024, where net profit dropped 29% to 4.01 trillion pesos ($1 billion) on the back of lower sales and a re-evaluation of the country's peso.Earlier this week the company told Reuters it was conducting technical…

Australia's resources minister said on Thursday she backs the long-term exploration of potential natural gas projects, setting up a potential clash with opposition lawmakers and some in the incumbent Labor Party that oppose its use.Australia, one of the world's largest producers of liquefied natural gas (LNG), is committed to reducing its emissions to net zero by 2050.But Resources Minister Madeline King said in a column in the Australian Financial Review on Thursday, ahead of the launch of the government's Future Gas Strategy, that "gas is needed out to 2050 and beyond.""The energy transforma

CB&I, a wholly owned subsidiary of McDermott, has been awarded a significant contract by TotalEnergies and OQ joint venture for the engineering, procurement, construction (EPC) of a full containment concrete liquefied natural gas (LNG) storage tank, located in Oman's Port of Sohar.Under the contract, awarded by Marsa Liquefied Natural Gas, CB&I will provide turnkey EPC services for a 165,000m3 full containment concrete LNG storage tank and associated piping to grade.Project delivery will be executed in Oman…

Norwegian shipbuilder Vard has hired TMC Compressors (TMC) to supply a complete marine compressed air system to a newbuild cable laying vessel being built for Prysmian.Under the contract, whose value was not disclosed, TMC will deliver a marine compressed air system consisting of control and service air compressors to the vessel.The company will manufacture the equipment in the Nordic region and deliver it to one of Vard’s shipyards in Norway.“This modern cable laying vessel will have a number of innovative features to enable sustainable subsea operations.

Bluestone Group, a maritime technical services company, has secured a contract for plan approval and site supervision of two new cutting-edge cable-laying vessels operated by Prysmian.The two new cable-laying vessels, the first of which is under construction and the second under design, will reinforce Prysmian’s submarine project execution capabilities.The first vessel, which will be an evolution of Prysmian’s preceding vessel, Monna Lisa, is being built by the VARD Group, a subsidiary of the Fincantieri Group.With a length of approximately 190 meters and a breadth of about 34 meters…

Compagnie Maritime Monegasque (CMM) has secured $94 million in financing from Summit Ridge Capital Partners, which will help the company construct pioneering ethanol-powered fleet of Platform Supply Vessels (PSVs) in Brazil.The financing will enable CMM to recompose its shareholder structure and to expand its fleet, the company said. Panorama Capital Partners sourced and advised on the transaction, and participated as a co-investor.As part of this expansion, CMM will construct pioneering ethanol powered PSV fleet in Brazil.

Classification society DNV said it is set to publish its new set of rules and standards for the offshore industry.The new rules, which cover several segments, including underwater systems and installations, offshore units, diving systems, structural design, and drilling systems, will be published in July and enter into force on January 1, 2025. They have been developed with extensive industry feedback, undergoing an external hearing process before their publication and entry into force.“The offshore sector is one of the most innovative in the world…

Malaysia-based offshore services firm Sapura Energy has through its joint venture companies secured $1.8 billion worth of contracts with Brazil’s state-owned energy giant Petrobras for the provision of subsea services and six pipe-laying support vessels (PLSVs).Sapura Energy has through the joint ventures owned by Seabras Sapura Holding and Seabras Sapura Participações, in collaboration with Paratus Energy Services, secured contracts for its full fleet of six multi-purpose PLSVs as part of a competitive tender process run by Petrobras.Sapura Energy…

So far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according to a new analysis by Bloomberg Intelligence (BI) and Bloomberg Economics (BE).The new study from BI and BE – Middle East Energy Scenarios – looks in detail at four broad scenarios and their potential impact on global GDP and inflation, from a sustained ceasefire to a confined conflict…

Negotiations for the development of Tanzania's $42 billion liquefied natural gas export plant have been delayed by proposed government changes to a financial agreement reached last year, a government spokesperson and two company sources said.The government and investors announced last May they had completed negotiations on the long-delayed project to unlock Tanzania's vast offshore gas resources.Equinor and Shell are joint operators while Exxon Mobil, Pavilion Energy, Medco Energi…

Norway-based Höegh LNG has made an agreement with Australian Industrial Energy (AIE) and Egyptian Natural Gas Holding Company (EGAS) for the deployment of the floating storage and regasification unit (FSRU) Hoegh Galleon. The aim of the deployment is to support energy security in Egypt, Höegh LNG said.Hoegh Galleon will be located in Ain Sokhna in Red Sea for a likely period of 19-20 months, after which it is expected to be deployed to AIE’s LNG terminal currently under construction at Port Kembla, Australia.

Van Oord’s Svanen vessel has received a major upgrade which increased its total height to 125 meters, making it one of the largest heavy-lift vessels in the world suitable for handling the next generation of monopile foundations for offshore wind.Svanen grew 25 meters taller with the installation of an A-framed gantry extension, weighing 1,200 tonnes, on top of the vessel.The extension had been constructed by Holland Shipyard. One of the largest cranes in the world was used for the installation at Mammoet Schiedam.Besides the gantry extension…

Dominion Energy has announced that any reports that the Coastal Virginia Offshore Wind (CVOW) project has been delayed are false and grossly misrepresent the facts.“On April 29, anti-wind groups filed a petition in the United States District Court for the District of Columbia seeking to delay CVOW construction using the same meritless arguments as have already been rejected before by the courts, including last week by the U.S. Court of Appeals for the First Circuit in relation to an offshore wind project in Massachusetts.

German shipowner Windward Offshore has ordered 3D Electric Controlled Motion Compensated (ECMC) cranes from Seaonics for two Commissioning Service Operation Vessels (CSOVs) being built by Norwegian shipbuilder VARD.The order marks Seaonics' first equipment delivery to Windward Offshore, a company founded by Blue Star Group, Diana Shipping and SeraVerse, in collaboration with and under the leadership of SeaRenergy Group.The first CSOV is scheduled for delivery in the second half of 2025…

Bibby Marine has signed a shipbuilding contract with Gondan Shipbuilders to construct what is said to be the world’s first zero-emission, electric commissioning service operation vessel (eCSOV).The eCSOV will be built in Gondan’s Asturias shipyard in Spain and is scheduled to be delivered in 2026.Designed in collaboration with UK-based ship designers Longitude, the eCSOV, will feature a powerful battery system, complemented by dual-fuel methanol engines for emissions-free operations.

Norwegian offshore vessel operator DOF Group has secured two contracts with Brazil’s state-run oil and gas company Petrobras, worth over $192 million.Petrobras has awarded new long-term charter and service contracts to Norskan Offshore. and DOF Subsea Servicos Brasil, after a competitive tender process.The vessel Skandi Amazonas, which was on the spot market, is chartered for three years firm with two years mutually agreed option via Petrobras tender issued late in 2023, to operate…