AUGUST 16, 2024 - Today, the first two China-built offshore wind power SOVs (Service Operation Vessels) ZHI ZHEN 100 and ZHI CHENG 60 was held in Qidong, China. The two SOVs were delivered by Shanghai Zhenhua Heavy Industries Co., Ltd. to Shanghai Electric Wind Power Group Co…
Cadeler took delivery of the fifth and newest addition to its fleet – Wind Peak, the first of seven newbuilds for which Cadeler currently has signed contracts. The P-class jack-up installation vessel was built at COSCO Shipping Heavy Industry (COSCO) shipyard in Qidong…
The market for offshore support vessels has experienced tremendous development in the last couple of years. And while we expect the market to continue its positive journey, we would argue that, at least on an overall basis, the market has already recovered to healthy levels at the time of writing…
Kystdesign won a new contract with DOF for two complete Constructor Compact ROV systems, a newly developed compact version of the Constructor ROV which has four systems sold to date.DOF delivers integrated subsea services. 'We are pleased with…
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…
Offshore energy is on a growth trajectory. Rystad Energy wrote in February 2024 that upstream oil majors were diving in to deeper waters. “Despite tightened budgets, frontier drilling is fueling optimism for a productive year, particularly deepwater projects in the Atlantic Margin…
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)…
Malaysia-based offshore services firm Sapura Energy, through its wholly-owned subsidiary Sapura Subsea Services, has secured a contract to provide subsea services for Thai oil company PTTEP’s subsidiaries in Malaysia.The contract, effective from February 21…
At a high-level, there are three solutions to transferring technicians from shore bases to offshore wind farms for construction and O&M activities: crew transfer vessel (CTV), helicopter, and SOVs/CSOVs.SOVs and CSOVs generally house 60-120 technicians offshore for a few weeks at a time…
Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side…
The fuel savings gained by installing energy storage systems on oil and gas platforms are significant, but it’s the safe-ty benefits that might overcome what has been a relatively slow uptake of late.Industry lore has it that drilling rigs say…
Mitsui O.S.K. Lines (MOL) has started commercial operation of the floating storage and regasification unit (FSRU) Jawa Satu for the Jawa 1 LNG-fired power plant in Indonesia.MOL owns the FSRU through PT Jawa Satu Regas (JSR), jointly established by PT Pertamina (Persero)…
Singapore-based Seatrium has secured a series of major contracts for vessel repairs, upgrades and conversions, set for completion by the end of 2025.With an aggregate value of S$350 million ($259 million), the contracts have reinforced Seatrium’s…
QatarEnergy signed time-charter party (TCP) agreements with Qatar Gas Transport Company Limited (Nakilat) for the operation of 25, 174,000 cubic meter LNG vessels as part of the second ship-owner tender under QatarEnergy’s historic LNG Fleet Expansion Program…
Singaporean aluminum boat builder Strategic Marine recently delivered TMS Ranod, the first of two Gen 4 Fast Crew Boats to growing Thai offshore services provider Truth Maritime Services (TMS). The pair of newbuild contracts were signed in 2023…
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