Offshore Market News

Strategic Marine, Mirai Ships, and Ragnar Energy Solutions have signed a Memorandum of Understanding (MOU) to establish a framework for exclusive newbuild collaborations, aiming to deliver vessels tailored for Japanese offshore markets.The MoU sets out the terms for exclusive collaboration on the design and construction of Crew Transfer Vessels (CTVs), a predominant asset utilized during the operational and maintenance phase of offshore wind farm operations, together with supporting…

Seatrium has secured multiple contracts for repairs and upgrades, with a total value of S$100 million ($760 million) from various long-standing partners and regular customers.The projects will be completed by Q12025 and include carbon capture and storage (CCS) retrofits, major repairs on yachts, cruise ships, LNG carriers, offshore vessels, tankers as well as damage repairs.Year to date, Seatrium has secured two CCS retrofit projects. Announced earlier this year, the first project is for Solvang ASA, Norway, involving the ethylene carrier Clipper Eris which is scheduled for November 2024.

Greek shipowners have spent an unprecedented $18 billion on newbuild gas vessels since 2021 as companies diversify their portfolios away from traditional tanker, bulker and container asset classes according to new research by Veson Nautical's data intelligence arm VesselsValue.Approximately $13.8 billion of the figure has been spent on 59 liquefied natural gas (LNG) vessels, and approximately $4 billionn on 41 liquid petroleum gas (LPG) vessels, according to the new report, ‘Greek Speculative S&P Investments’.

Centus Marine, a Malaysian operator of fast crew boats, has selected Singaporean shipbuilder Strategic Marine to build the next generation of high-speed personnel transfer vessels, developed by AIRCAT.The new vessel, developed in partnership with AIRCAT Vessels and based on the AIRCAT 35 Crewliner surface effect ship (SES) platform, will be designed to achieve speeds exceeding 50 knots while ensuring the safety and comfort of passengers during transit to and from offshore oil and gas platforms.An advanced lift system will allow the vessel to achieve minimum draft on water…

The Middle East Gulf offshore market continues to exhibit strong growth in contract awards, even as it adjusts to the decision by Saudi NOC Aramco to suspend contracts for over 20 jack-up rigs.The Gulf region continues to contribute strongly to contract volumes in 2024. MSI tracked circa $50bn of contract awards during the first half of 2024, a rate which if continued will see 2024 capex spend outstrip levels seen in 2022 and 2023. The Middle East Gulf and South and Central America dominated awards accounting for about 55% and 30% of awards…

Norwegian offshore vessel owner Solstad Offshore has secured multiple contracts with Petrobras, whose combined value is approximately $240 million (NOK 2.6 billion).The contracts are scheduled to start in the second half of 2024 and first half of 2025.Petrobras has contracted the construction support vessel (CSV) Normand Poseidon and two anchor handling tug supply (AHTS) vessels Normand Sagaris and Normand Ferking, all owned by Solstad Maritime, in which Solstad Offshore holds…

2024 marks 50 years of ship design work for Kongsberg Maritime. From setting the benchmark that set the standard for offshore supply vessels in the 1970s, to advanced anchor handlers that transformed the oil and gas industry, and a growing reference list in fishery and merchant ships, Kongsberg Maritime’s range of ship designs has continued to evolve over the past five decades.The early 1970s, at the dawn of the offshore oil and gas industry, saw the very first vessels, designed…

Crowley Maritime Corporation has owned and operated a lot of vessels since its founding in 1892. But the latest vessel to join its fleet is unlike any other that has come before it.Crowley’s new harbor tug, eWolf, is unique in that it runs 100% powered by batteries, not diesel engines, meaning it produces zero emissions and nearly no noise. Not only is the vessel the first fully electric tug in the Crowley fleet, but it is also the first of its kind in the United States.Faced with stricter regulations and commercial pressure to prioritize environmental…

2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…

Naval architecture and marine engineering firm BMT unveiled its new design for a 48-meter service operation vessel (SOV).BMT said the mid-sized vessel sits in between crew transfer vessels (CTV) and typical SOVs, providing a more cost-effective solution to achieving operational requirements as operators in the offshore market look for ways to reduce their operational expenditure (opex). Incorporating a methanol-ready design, the SOV features an optimized hull form and machinery configuration, built on a dynamic diesel-electric platform.

Vard, a Norwegian subsidiary of the Fincantieri Group, has signed a contract for the design and construction of a cable-laying vessel for Prysmian Group valued at $250 million.This is the third cable-laying vessel Vard is building for Prysmian Group after vessels Monna Lisa, currently under construction, and Leonardo da Vinci, which was delivered in 2021.According to the companies, the new unit will consolidate the widest fleet in the industry.The cable-laying vessel will be an evolution of the Monna Lisa class.

John F. Kennedy’s famous locution, “Ask not what your country can do for you, but you can do for your country” remains the rallying call for civic action and public leadership. The message remains foundational to the success of the United States, particularly as we head into an election year that once again appears to be filled with divisiveness and vitriol. That said, before we flip the calendar, it is important to set JFK’s message aside for a moment and reflect upon what our political leadership in Washington…

Norwegian partners are planning to build a series of zero-emissions platform supply vessels (PSV) equipped with Amogy's ammonia-to-power technology.Green Ships AS, a consultancy specialized in the design and construction of environmentally friendly vessels, and Bourbon Horizon AS, an international offshore shipping company, have signed an MoU with Amogy for the supply of its technology to two PSVs. The deal includes an option for a third vessel.Bourbon Horizon, formerly Bourbon Offshore Norway, will be the commercial and technical manager of the new vessels.

International shipbroker IFCHOR Galbraiths (IG) will be providing offshore brokerage services in the oil and gas market following its acquisition of Norwegian offshore specialist UNO Offshore.Founded in 2010, with a seven-strong team based in Bergen and Haugesund, UNO Offshore focuses on providing chartering, newbuild, sale and purchase, research and consulting services related to the oil and gas sector. UNO Offshore will be renamed IG Offshore.Commenting on the move, IG co-CEO, Bjorn Andersen, said, “We are delighted to bring Hans and his experienced team into the IG family.

The Service Operation Vessel (SOV) “Windea Leibniz” on Saturday completed an extensive upgrade at Ulstein Shipyard in Norway. The vessel is managed by Bernhard Schulte Shipmanagement (BSM)."With an increase of cabins from 60 to over 80, the vessel has transitioned from an SOV to a Commissioning Service Operation Vessel (CSOV),"  Additionally, the ship received one extra pedestal on the stern for Baltic Sea operations to complement the existing pedestal for North Sea use. The upgrade expands the operational range of “Windea Leibniz” and makes her even more attractive for the offshore market…

Since the ballast water management system discussion started nearly two decades ago, a clear concern was the ability to fit new equipment on existing ships, placing a strain on both space and power. Last month we caught up with a few key suppliers to for their insights on market development.How many BWMS have you sold and installed to date?Maxime Dedeurwaerder, BIO-UV GroupLast year has proven to be the best on record, with roughly 200 BIO-Sea units delivered. All told, since we entered the ballast water market, we have about 700 units in service or pending commissioning.

Maritime satellite communications services firm Marlink is equipping Solstad Offshore vessels with Starlink connectivity integrated with the Sealink VSAT, L-band backup, and 4G services."Solstad Offshore is the first offshore vessel operator on the Marlink network to trial Starlink testing the network in harsh weather conditions. In September 2022, the company completed the migration of its fleet connectivity to Marlink, including Sealink VSAT and 4G connectivity, and is now evaluating if this should be further extended with Starlink integration…

Singapore-based shipbuilding company Strategic Marine has signed an order to build three ‘Brevity’-class crew transfer vessels (CTVs) from Chartwell Marine.The Brevity-class 27-meter catamaran design forms part of Chartwell’s new offshore wind support vessel range, which has seen multiple orders in the UK and USA since its launch in June 2022.The Brevity-class crew transfer vessel has a capacity of 32 personnel. Multiple crew configurations enable flexibility in space planning and enhance the comfort necessary during long offshore stays…

The UK’s plans to significantly increase offshore wind capacity to 50GW by 2030 risks being hindered by an array of undiscovered unexploded ordnance (UXO) in our coastal waters. It is estimated that up to 500,000 legacy items/targets of UXO could still be present in UK waters. These require safe removal or disposal to clear the way for accelerated offshore wind development. The current practice of High-Order UXO detonation (often resulting in a huge explosion) generates loud underwater (subsea) explosions which can disrupt navigation…

Dutch marine services and towage firm KOTUG has closed the acquisition of Seaways, first announced in April. The fee was not disclosed."The acquisition of Seaways brings together the assets, expertise and people of two leading companies that support the worldwide floating facility business such as FSO, FPSO, FLNG, FSRU and SPM Terminals. With all customary, governmental, and other required approvals, KOTUG will now focus on the integration of Seaways and strengthening its leading presence in the floating offshore market…

The region could be a key growth market for the oil and gas industry going forward, writes Joshua Belo-Osagie, Maritime Strategies International (MSI).Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia.In addition, the implications of Russia’s invasion of Ukraine have only reinforced some of these pre-existing dynamics…

Norwegian owner and operator of offshore service vessels Golden Energy Offshore is deploying Inmarsat’s Fleet LTE service to meet the growing data requirements of modern offshore operations and support sustainability.Headquartered in Ålesund, Norway, Golden Energy Offshore owns and operates a fleet of offshore support vessels providing offshore services to the oil, gas, and renewables industries. The company is a long-term Inmarsat customer and also a longstanding user of the satellite communications specialist’s VSAT services.

Ecochlor launched a containerized version of the EcoOne filterless ballast water management system (BWMS), targeting the Semi-Submersible Rigs, Jack-Up Rigs, Drillships, FPSOs, FSRUs and other vessels with infrequent ballasting operations at medium to high flow rates.“The EcoOne Container Unit offers incredible benefits to Mobile Offshore Drilling Units (MODU),” said Andrew Marshall, Ecochlor CEO. “One system can simultaneously serve up to four separate sea chests or quadrants, in the case of the semi-submersible rigs.