Offshore Wind Vessel Firm Edda Wind Plans Oslo IPO
Offshore wind vessel company Edda Wind, owned by Wilhelmsen and Østensjø, on Monday announced plan to launch an offering of shares in the company and to apply for a listing on the Oslo Stock Exchange (the “IPO”).Based in Haugesund, Norway, Edda Wind develops, builds, owns, and operates purpose-built Service Operation Vessels (“SOV”) and Commissioning Service Operation Vessels (“CSOV”) for offshore…
China Builds Mockups of US Navy Ships for Target Practice
China's military has built mockups in the shape of a U.S. Navy aircraft carrier and other U.S. warships, possibly as training targets, in the desert of Xinjiang, satellite images by Maxar showed on Sunday.These mockups reflect China's efforts to build up anti-carrier capabilities, specifically against the U.S. Navy, as tensions remain high with Washington over Taiwan and the South China Sea.The satellite images showed a full-scale outline of a U.S.
Saudi Arabia: IMI, Zamil in Offshore Support Vessel JV
International Maritime Industries (IMI), which describes itself as the largest maritime yard in the MENA region, has signed a Joint Venture Agreement with Zamil Offshore to deliver Offshore Support Vessel (OSV) building and maintenance, repair, and overhaul services (MRO) in Saudi Arabia."The long-term agreement signed with Zamil, one of the Middle East’s largest shipyards and owners, operating a fleet of over 60 diversified vessels in Saudi Arabia…
Video: Tanker Crewman Medevaced Near Galveston
An ailing crew member was medevaced from a tanker vessel near Galveston, Texas, on Sunday morning, the U.S. Coast Guard said.Coast Guard Sector Houston-Galveston command center watchstanders received a medevac request via VHF-FM channel 16 at 4:05 a.m. from the Marshall Islands-flagged Silver Ginny for an unresponsive 28-year-old crewmember who had fainted in his cabin but had stable vitals. Watchstanders consulted with the duty flight surgeon…
BW Offshore's FPSO to Stay in Nigeria for One More Year
Norwegian floating oil and gas production systems owner BW Offshore has secured a one-year contract extension in Nigeria for one of its FPSOs.The contract, with…
BAE Systems Sticks to Guidance for 2021 Earnings Growth
British defense company BAE Systems stuck to guidance for earnings to grow by 3% to 5% this year over 2020's result and said that demand for its products and services remained high.BAE, whose main customers are the United States, Britain and Saudi Arabia, also said that so far it had been able to overcome supply chain pressures affecting many other manufacturers globally, helped by the long-lead items it uses in programs.Defense has been largely unaffected by the pandemic…
Superyachts Enjoy Pandemic Tailwind as Rich Seek Zen at Sea
When Chinese billionaire Jack Ma took a trip to Spain's Mallorca island last month, much was made of it being his first foreign foray since a 2020 fallout with regulators had clipped his wings.However, Ma's sunny sojourn on his newly-built 88-metre (289 ft) cruise boat Zen - estimated to be worth $200 million - also put a spotlight on a global trend: the return of the superyacht.As the number of billionaires grows and COVID-19 has added to incentives for avoiding crowds…
North Field Expansion: QatarEnergy Orders Six LNG Carriers from S. Korean Shipyards
Qatar's state-run energy firm QatarEnergy, until recently known as Qatar Petroleum, has ordered six LNG tankers, four from Daewoo Shipbuilding & Marine Engineering (DSME) and two from Samsung Heavy Industries (SHI) in support of its North Field expansion project.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased to take this further step with DSME and SHI…
China's Crude Oil Imports in Oct Drop to Lowest in Three Years
China's crude oil imports plunged in October to the lowest since September 2018, as large state-owned refiners withheld purchases because of rising prices while independent refiners were restrained by limited quotas to import.The world's biggest crude oil importer brought in 37.8 million tonnes last month, data from the General Administration of Customs showed on Sunday, equivalent to 8.9 million barrels per day (bpd).That is down from 9.99 million bpd in September and 10.02 million bpd in the s
SAAM Reports 40% Jump in Revenue
SAAM, a provider of port, towage and logistics services in 14 countries in the Americas, reported net income of $55.5 million for the nine months ended September 2021, up 40% from the January-September period in 2020. EBITDA reached $202.3 million and sales totaled $548.9 million, marking rises of 28% and 29%, respectively (all consolidated figures).Figures for the quarter were also positive: Net income was $18.8 million (+162% with respect to 3Q2020)…
NYK VLCC Tateshina Designed to Be 23% More Energy Efficient
The very large crude oil carrier (VLCC) Tateshina, owned by NYK, was delivered on November 8, 2021, built at Nantong COSCO KHI Engineering Co., Ltd. (NACKS) in China.According to the owner, several enhancements have been incorporated on Tateshina to help improve performance and fuel efficiency and reduce emissions, including a modified bow shape to help reduce wave resistance. This ship is also equipped low-friction paint…
Bladt, Semco to Deliver Three 880MW Offshore Substations for CVOW Project
Danish offshore energy industry services firms Bladt Industries and Semco Maritime have been awarded a contract to deliver substations for Dominion Energy's Coastal Virginia Offshore Wind project in the U.S.The contract comprises three 880 MW offshore substations, which will be established in 2021-2025 and commissioned in 2026."The three substations will constitute the backbone of the electrical infrastructure for the 2.6 GW Coastal Virginia Offshore Wind project.
Uniper CFO: Nord Stream 2 Completion Not Cure-all for Gas Market Woes
The completion of the controversial Nord Stream 2 gas pipeline to bring more Russian gas into Germany under the Baltic Sea would go some way to relieving the tight gas market this winter, but there were other factors at play, the chief finance officer of utility Uniper said."Clearly it (Nord Stream 2) would help but the situation is more complex," CFO Tiina Tuomela said in an earnings call with analysts on Friday…
Infrastrucure Bill: $2.5B Earmarked for Inland Waterways Construction and Rehab
By a vote of 228 to 206, the U.S. House of Representatives approved the Senate-passed H.R. 3684, Infrastructure Investment and Jobs Act (the bi-partisan Infrastructure Package). The bill is headed to the President to be signed into law.For the nation’s inland waterways system, a historic $2.5 billion of 100% federal funding is provided for construction and major rehabilitation inland waterways projects. In addition, Capital Investment Strategy (CIS) navigation projects will be given priority.
NGO Rescue Ship with 800 Migrants Aboard Asks Italy for Safe Port
German rescue charity Sea-Eye said on Thursday it had asked Italy for a safe port to disembark some 800 migrants it rescued from boats in distress in the central Mediterranean.The charity vessel SEA-EYE 4 Took onboard another 400 people from a wooden boat on Wednesday night in a seventh rescue operation since it set sail in mid-October, bringing the total to around 800, Sea-Eye said in a statement.It said Rise Above…
Hornsea Two: Jumbo Completes Delivery of Wind Turbine Foundation Parts in 37 Voyages
Dutch heavy lift shipping and offshore transport & installation contractor Jumbo has completed the transport and handling of offshore wind turbine foundation components for Ørsted’s Hornsea Two offshore wind farm in the UK.Supporting DEME Offshore, Jumbo deployed its K-3000 class heavy lift vessel Fairmaster to carry out its scope of transporting 141 monopiles and 131 transition pieces from Rostock…
Coral Sul FLNG Project on Track, Eni Says
Claudio Descalzi, CEO of the Italian oil and gas giant Eni on Friday met with Filipe Nyusi, President of Mozambique, where Eni is working to develop giant offshore gas reserves using a floating LNG unit.Descalzi updated President Nyusi on the Eni-led Coral South Project, which will put in production Mozambique’s gas resources. "The project is on track and the Coral Sul FLNG, being finalized in South Korea…
Hyundai Mipo Delivers Dual-Fuel Methanol Carrier 'Capilano Sun'
South Korea's Hyundai Mipo Dockyard has delivered the dual-fuel methanol carrier Capilano Sun, Japanese Mitsui O.S.K. Lines, (MOL) has informed.MOL said that the vessel, which can run on either heavy oil or methanol fuel, would be chartered from Hisafuku Kisen K.K., and then, Canada-based Waterfront Shipping Company (WFS) will charter the vessel from MOL under a long-term contract.Including Capilano Sun, MOL operates 18 methanol carriers.
Baltic Index Records Worst Week since July 2020 as Vessel Rates Drop
The Baltic Exchange's dry bulk sea freight index dipped on Friday, registering its biggest weekly decline since July 2020, pulled lower by weakened rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax vessels, was down 54 points, or 2%, to 2,715, its lowest since June 10. The main index suffered a weekly loss of 22.8%.The capesize index rose 59 points, or 1.8%, to 3,280, snapping an 11-session losing streak.
Shell Restarts Production from Hurricane-hit Platforms in Gulf of Mexico
Shell said on Friday it had restarted production at its offshore Mars and Ursa in the Gulf of Mexico and began exporting oil and gas through a transfer facility, which was shut due to damage from Hurricane Ida.The oil major was the hardest-hit producer from Ida, which tore through the Gulf of Mexico in August and removed 28 million barrels from the market.Shell's West Delta-143 offshore facility, which transfers oil and gas from three major fields for processing at onshore terminals…
