Stories

Norwegian Seminar to Focus on Financing, Procurement

March 17, 2014

The challenges of managing efficient procurement  processes and getting the right funding in the shipping and offshore sectors is the topic for a major half day conference in Singapore later this month. Coinciding with the Asia Pacific Maritime (APM) event on March 20…

Floating Production Inventory Continues to Grow

March 17, 2014

The number of floating production systems continues to grow;  349 floating production units are now in service, on order or off-field/being remarketed. This inventory is 5% higher than a year ago, 27% higher than five years ago. Current Inventory: Of the total…

Keppel Reports Batch of New Projects

March 17, 2014

Keppel Offshore & Marine Ltd.'s (Keppel O&M) subsidiaries Keppel Shipyard Ltd., Keppel Singmarine Pte Ltd. and Keppel Nantong Shipyard Co. Ltd. have secured contracts worth a total of about S$140 million. Michael Chia, Managing Director (Marine & Technology) of Keppel O&M…

Floating Production Systems Report And Online Database

  • Monthly reports -- Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 80 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In October of each year we provide a detailed five year forecast of production floater orders. In March of each year we fine tune the forecast and make revisions as needed.
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New North Sea CNR Contract Requires Second Harkand Vessel

March 17, 2014

Subsea inspection, repair and maintenance (IRM) group Harkand says it is to position a second dive support vessel in the burgeoning North Sea sector after securing a major contract with CNR International (CNRI). The contract will see Harkand deliver jacket life extension works…

McDermott Make Middle East Pipeline Emergency Repair

March 14, 2014

The Dive Support Vessel 'Thebaud Sea' was recently mobilized by McDermott International, Inc. for an emergency pipeline repair intervention contract offshore the United Arab Emirates. McDermott say that this is the third time in recent months…

Record 40,000bpd from Cascade and Chinook

March 7, 2014

According to Petrobras, production at Cascade and Chinook fields hit 40,000 barrels per day (bpd) on March 4, 2014, a new output record for these oilfields. Cascade has 3 wells in operation and Chinook 2 wells. The record levels were achieved by bringing on stream two new wells…

McDermott Get Big Middle East Offshore Contract

March 6, 2014

McDermott International, Inc. informs that one of its subsidiaries has been awarded a large engineering, procurement, construction and installation (“EPCI”) project by an operator in the Arabian Gulf. The award is included in McDermott’s fourth quarter 2013 backlog.

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Danish shipping fuel supplier OW Bunker confirms IPO plan

March 5, 2014

Private equity co Altor plans to partly sell holding; OW Bunker FY net up almost 50 pct at $63.4 mln. Revenue up more than 20 pct at $16.99 billion. Danish ship fuel supplier OW Bunker plans an initial public offering (IPO) of shares in Copenhagen…

Crowley Maritime Tugs Deliver Massive Semi-Submersible

March 4, 2014

Crowley Maritime Corp. inform that its ocean class tugs have successfully delivered oversized, overweight equipment – comprised of topsides, tendons, piles and more – that are now part of a massive semi-submersible floating production facility located in the U.S.

Norway Confirms Small Arctic Oil Find

March 3, 2014

Norwegian oil explorer Det norske made a small oil discovery in the Arctic Barents Sea with a gross oil column of about 30 metres and much poorer reservoir quality than expected, the Norwegian Petroleum Directorate said on Monday. Det norske…

Denmark's OW Bunker to announce IPO this week

March 3, 2014

Danish ship fuel supplier OW Bunker aims to publish plans for a stock market listing this week, three sources familiar with the matter told Reuters on Monday. "The plan is to be listed before Easter," one source said, adding that Morgan Stanley, Carnegie, Nordea and ABG would lead the IPO.

Deep Down Challenges Tackled by ABB Technologists

February 28, 2014

ABB explain that as offshore shallow-water oil and gas reserves run dry, the industry is turning to deeper waters which sets great technical challenges . It was not until 1934 that the first manned submarine reached a depth of just 914m (0.6 miles).

Aegean Profitable in 2013 Despite Bunker Market Challenges

February 27, 2014

Ship bunker suppliers Aegean Marine Petroleum Network release financial and operating results for the fourth quarter ended December 31st, 2013, registering a third consecutive profitable year. Quarterly & full year highlights Recorded sales volumes of 2…

Saipem wins $520m offshore contracts in Congo, Indonesia

February 24, 2014

(Reuters) - Saipem has won new contracts for off-shore engineering and construction in Congo and Indonesia worth a total $520 million, the Italian oil services group said on Monday. Saipem said parent company ENI had assigned a consortium led…

Teekay Offshore Buys Towage Firm, Orders New AHTS Vessels

February 24, 2014

Teekay Offshore Partners say they have agreed to acquire ALP Maritime Services B.V. (ALP), a Netherlands-based provider of long-haul ocean towage and offshore installation services to the global offshore oil and gas industry. Details as follows…

CAMAC Contracts FPSO for Offshore Nigeria

February 21, 2014

CAMAC Energy Inc. announced that a long-term contract has been signed for the floating production storage and offloading vessel (FPSO) Armada Perdana. The contract provides for an initial term of five years beginning January 1, 2014, with an…

Accommodation and Features are Key for Offshore Housing

February 20, 2014

Deepwater operations are increasingly demanding more personnel offshore, often for longer periods of time, placing a greater emphasis on crew accommodation. Now accommodation and special features join safety as the key components for a new range of comfortable, large-scale offshore housing vessels.

Floating Production Market Forecast

February 18, 2014

$136 billion expenditures forecast for Floating Production Unit purchases over the next five years Today, 319 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 74% of systems on order.

New Wärtsilä Propeller Speeds Up Australian FPSO

February 17, 2014

Wärtsilä say that the technical design and installation of a new fixed pitch propeller (FPP)  for the floating production storage and offloading vessel (FPSO) Ngujima-Yin has been successfully completed. The FPSO is operated by Woodside Energy Ltd…

Aker Solutions Holds Its Own in Q4 2013

February 13, 2014

Financial Highlights in the fourth quarter of year 2013 were as follows: Sales were NOK 11.4 billion in the fourth quarter of 2013, up from NOK 11.2 in the fourth quarter of 2012. Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1.06 billion in the quarter…

The Quest for Arctic O&G Standards

February 11, 2014

Improving and updating Arctic design standards for material, equipment and offshore structures for the petroleum, petrochemical and natural gas industries. Seventy representatives from seven countries met for two days in St. John’s, Newfoundland…

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