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Tidewater Reports 2Q Results

Tidewater Inc. announced second quarter net earnings for the period ended September 30, 2006, of $104.2 million, or $1.86 per common share, on revenues of $274.0 million. For the same quarter last year, net earnings were $82.2 million, or $1.42 per common share, on revenues of $204.4 million. The immediately preceding quarter ended June 30, 2006, had net earnings of $71.4 million, or $1.23 per common share, on revenues of $269.8 million. Included in the current quarter's net earnings is a gain of $28.2 million ($17.2 million after tax, or $0.31 per common share) related to the August 2006 sale of 11 of the company's offshore tug vessels to Crosby Marine Transportation, LLC for a total cash price of $34.8 million. Included in net earnings for the quarter ended September 30, 2005 is a gain of $65.9 million ($42.8 million after tax, or $0.74 per common share) from the sale of six of the company's KMAR 404 class of Anchor Handling Towing Supply vessel to Deep Sea Supply ASA for a total cash purchase price of $188.0 million. Tidewater Inc. owns over 490 vessels, the world's largest fleet of vessels serving the global offshore energy industry.


O&G industry body Decom North Sea acts to try to ease predicted skills shortages

DNS Chief Executive Brian Nixon

Decom North Sea (DNS), the offshore oil & gas decommissioning forum, has commissioned research into the future labour and skills requirements for the growing decommissioning sector to try to alleviate predicted skills shortages in future. With more than £1billion a year of decommissioning expenditure forecast for the UK North Sea by 2015 and only 7% of projects completed to date, DNS will make its findings available to training bodies to help ensure appropriately skilled people


Low Emission Ships Aid Statoil

Statoil said savings in acid-rain-causing nitrogen oxide (NOx) from two new low-emitting ships would allow it to meet its NOx emissions reduction targets from one new power station. "We've been given permission to credit these NOx reductions against land-based projects," Knut Barland, vice-president for environment at Statoil said. "And the kind of reduction we'd be getting on these ships would meet the NOx emission reduction target for one of these (planned) power plants."


DOT Signs Metlakatla Ferry Contract

The Alaska Marine Highway ushered in a new era in marine transportation for the community of Metlakatla with the signing of a contract to between the Department of Transportation and Conrad Industries of Morgan City, LA to build a new ferry. The new vessel will provide dedicated service between Metlakatla and Ketchikan, two of the Inside Passage’s southernmost communities. Southeast Region Director, Bob Doll , represented the Alaska Department of Transportation & Public Facilities at


PSV 'Skandi Caledonia' Hire Extended, Rate Increased

Photo courtesy of DOF

Three more years North Sea hire for DOP platform supply vessel 'Skandi Caledonia' Norwegian offshore vessel owner DOF has secured a three-year contract extension with Danish operator Maersk Oil for its platform supply vessel Skandi Caledonia for work in the UK North Sea sector. The three-year option now exercised from October this year replaces an earlier one-year option, with the dayrate for the new period  - which was not disclosed - set to increase 25%.


Maersk Supply Ships Q3 2013 Profits Soar

A Maersk OSV: Image courtesy of Maersk

Maersk Supply, a subsidiary of the A. P. Moller-Maersk group, came out of the third quarter of 2013 with a profit of US$76-million, against a profit of US$ 48-million in the same quarter in 2012. Revenue rose from US$ 226-million in the period of 2012 to US$ 240 million. The profit for the third quarter of 2013 improved compared to the same period last year primarily due to higher utilization and lower operating costs.


NASSCO Awarded T-AKE 10 Funds

General Dynamics, National Steel and Shipbuilding Company, San Diego, Calif., is being awarded a $100,000,000 fixed-price-incentive modification under previously awarded contract (N00024-02-C-2300) to exercise an option for long lead time material and associated labor for the 10th ship of the T-AKE 1-Class (T-AKE 10).The contractor will perform material sourcing, material ordering, vendor interface, and material quality assurance


ABB Wins $45M in Propulsion Contracts

ABB in Norway has secured new contracts worth $45 million for delivery of complete electric propulsion systems to two icebreakers to be built for CJSV Sevmorneftegaz by the Norwegian shipyard Havyard Leirvik, and four Platform Supply Vessels to be built in China for Groupe Bourbon by Zhejiang Shipbuilding. The contracts with Havyard Leirvik encompass system supply to two multifunctional icebreaking offshore supply vessels for the Russian company CJSV Sevmorneftegaz


Ukraine's Black Sea Gas Ambitions Seen at Risk over Crimea

By Henning Gloystein, Reuters Ukrainian plans for expanding Black Sea natural gas output have been thrown into doubt by Russia's seizure of Crimea, a region linked to most of Ukraine's offshore developments. Past price disputes between Russia and Ukraine have led to the Russians cutting off supply, prompting Kiev to spur development of its own resources including onshore shale gas and Black Sea fields. Ukraine failed to pay Russian gas company Gazprom $440 million by a deadline on


GAC Russia To Upgrade Facilities At Novorossiysk Port

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  GAC Russia is underlining its commitment to offshore oil & gas exploration and extraction in the Black Sea with a major project to upgrade its facilities at the port of Novorossiysk. The Black Sea is one of the areas in which the development of fields looks set to boom as Russian oil majors are granted licenses and joint ventures are formed with international energy companies to develop blocks. GAC Russia has already signed contracts with one of the key players to provide


EU Says No Deal Yet in Ukraine-Russia Gas Talks

The European Commission cancelled a news conference planned to follow talks between Russia and Ukraine on gas supplies on Wednesday, saying negotiations in Brussels were continuing late into the evening. All three parties had been hoping to conclude a deal on resuming Russian natural gas


Partners Deliver Modular Floating Tidal Energy Platform

rendering of the platform, courtesy of Damen

A group of offshore companies, including Bluewater, Damen and Van Oord among others, has partnered for a floating tidal energy platform a project to generate clean electricity, marking the first time that a floating tidal platform is used for electricity production into the Dutch grid.


Arctic Oil: Bourbon to Enter Arctic Market in 2016

(Copyright: Bourbon)

Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor Handling Tug Supply) was specially designed for operations in polar waters, and more specifically in arctic zones


Delta "T" Hooks for Offshore Customer

Delta T Web.jpg

Gaining further ground into the offshore crane market, Delta "T" Systems supplied Cranston Eagle hooks to crane manufacturer Appleton Marine, Inc.   These cranes and hooks will be used on medium endurance cutters and national security cutters to move small boats into the water


New Oil Field Found in British North Sea

Oil find

  GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f (licence P1588) and BP operated block 30/1c (licence P363) was flow tested at a maximum rate of 5


Oversupply, Ebola Fears Drive Oil Below $86

ebola2.jpg

 * Middle East supply remains strong * Equities fall on confirmed case of Ebola in New York * Economists see gloomy 2015 for China, euro zone - Reuters poll * Commerzbank cuts price forecast on bearish OPEC signals (Updates prices, adds Middle East supply)    


Multiple Pirate Attacks in Nigeria's Oil Delta

Pirates have launched a spate of attacks in the creeks of Nigeria's oil-producing Niger Delta region since last Thursday, killing three policemen and abducting at least nine people, security officials said. Most of those kidnapped were local workers in Africa's biggest oil industry


Pirates Launch Renewed Attacks in Nigeria's Oil Delta

Pirates have launched a spate of attacks in the creeks of Nigeria's oil-producing Niger Delta region since last Thursday, killing three policemen and abducting at least nine people, security officials said. Most of those kidnapped were local workers in Africa's biggest oil industry


MES Launches Two After-sales Service Companies

Mitsui Engineering & Shipbuilding Co., Ltd., (MES) has established service companies in Doha, Qatar and Ankara, Turkey, to perform after-sales service business, which includes supply of spare parts, repair and periodical overhauling maintenance, for MES manufactured industrial machinery.


Quantum of the Seas Delivered to Royal Caribbean

Quantum of the Seas (Photo: Royal Caribbean International)

Royal Caribbean International took delivery today of the newest addition to the cruise line’s fleet, Quantum of the Seas, from Meyer Werft Yard, at an official signing ceremony in Bremerhaven, Germany attended by Royal Caribbean Cruises Ltd.’s Chairman and CEO Richard D


Miko Marine Launches US Subsidiary

Photo: Miko Marine

Miko Marine AS has opened a subsidiary in Morgan City, La. from where it will be able to supply ship operators and salvage companies throughout the United States with its range of products, including its magnetic patches to prevent ships from sinking.


SMC to Provide Marine Coordination for Siemens

Photo courtesy of Siemens

Specialist Marine Consultants Ltd (SMC) have been working with Siemens, providing offshore marine coordination for a fifth Siemens Wind Power construction project. The Butendiek offshore wind farm in the North Sea began construction in early 2014, and is due for completion mid-2015


L-3 MSI Supplies Navigation for the Oasis Class

Oasis of the Seas (Photo courtesy of Royal Caribbean International)

L-3 Marine Systems International (L-3 MSI) has been awarded a contract to provide its NACOS Platinum navigation system, including an integrated dynamic positioning system, for the third ship in Royal Caribbean International’s (RCI) Oasis class


Explosion-protected Crane Systems

A customized, explosion protected 80 metric ton lift capacity crane as supplied by J D Neuhaus for use on an offshore rig

Crane systems manufactured by the J D Neuhaus company can be supplied with Atex classifications EX II 2 GD IIA T4 / EX II 3 GD IIB T4, with increased spark protection also available for explosion level II C. The company said its products are currently used worldwide


Naviera Integral Orders Damen Fast Crew Suppliers

Image: Damen

Naviera Integral of Mexico is the launching customer of Damen’s new Sea Axe Fast Crew Supply vessel, the FCS 4008. President of Naviera Integral, Juan Pablo Vega, signed the order for the two new vessels at an official ceremony at the Offshore Energy Exhibition in Amsterdam






 
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