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Offshore Incident: Velesto's Jack-Up Rig Tilts, Submerges Off Sarawak, Malaysia

May 04, 2021

A jack-up rig owned by Malaysian drilling contractor Velesto tilted and submerged at a location offshore Sarawak, Malaysia on Tuesday, the rig owner said.'The Board of Directors of Velesto Energy Berhad [...] regrets to inform that an incident involving one of our rigs, Velesto Naga 7, occurred at the worksite due to rapid penetration into the formation on 3 May 2021, Monday, whilst operating in offshore Sarawak for a client…

Northern Offshore Services Takes NYK's CTV on Ten-year Charter

May 06, 2021

Northern Offshore Services has taken NYK's crew transfer vessel Energizer on a ten-year charter. The vessel will be used to transfer crews to offshore wind farms, mainly in Europe.Japan's NYK, which shared the charter news on Thursday, also…

Market Signals Fast Rebound in Floating Production Orders

Apr 28, 2021

The deepwater market is rapidly returning to pre-COVID-19 activity levels, and the recovery appears to be gaining strength, according to a recent in-depth analysis completed by International Maritime Associates (IMA) and World Energy Reports (WER)…

Abu Dhabi: OFCO, Mammoet Pen Collaboration Agreement

Apr 19, 2021

Abu Dhabi Ports’ recently formed offshore logistics service provider, Offshore Support and Logistics Services Company (OFCO) has signed a collaboration deal with heavy lifting and transport services company Mammoet.'The integrated maritime logistics service provider OFCO…

Clean Crude? Oil Companies use Offsets to Claim Green Barrels

Apr 16, 2021

In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.While the two-million-barrel cargo to India was destined to produce more…

Floating Production Systems Market Bounces Back on Recovering Oil Prices

Apr 02, 2021

Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports.McCaul bases his assessment on data in a new floating…

Gulf Marine Services Strikes New Debt Deal with Banks

Apr 01, 2021

Gulf Marine Services, a UAE-based provider of self-propelled, self-elevating support vessels serving the offshore oil, gas, and renewables industries, has struck a deal with banks to reduce the interest rate on its loan.'Under the revised agreement…

OHT Sees Uptick in Demand to Transport Offshore Wind Equipment to China

Mar 29, 2021

Oslo-listed Offshore Heavy Transport has said it has recently experienced an uptick in demand for the transportation of offshore wind equipment to China.'OHT’s fleet of semi-submersible heavy transportation vessels have been busy transporting offshore wind equipment to China…

Australia's MMA Offshore Scores Offshore Wind Hat-trick in Taiwan

Mar 29, 2021

Australian offshore vessel operator MMA Offshore has secured three new contracts in the offshore wind market in Taiwan.The contracts are for the vessels MMA Pride, MMA Crystal, and MMA Responder.'These three contracts, with firm periods totaling 270 days…

Petronas Becomes First Company to Produce LNG from Two FLNG Units

Mar 25, 2021

Malaysian oil and gas company Petronas has become the first energy company to produce LNG from two floating LNG facilities, after the LNG shipment was delivered by its floating LNG facility PFLNG DUA on Wednesday, March 24.The cargo was loaded…

Opus Marine Buys Two Crew Transfer Vessels from Penguin

Mar 23, 2021

German offshore vessel operator Opus Marine has acquired two WINDFLEX-27 Crew Transfer Vessels built by Penguin Shipyard, a unit of Singapore-based Penguin International Limited. Incat Crowther, the vessel designer, said that the two vessels…

Centus Marine Orders Two Fast Crew Boats from Strategic Marine

Mar 22, 2021

Singapore's Strategic Marine has secured an order to construct two fast crew boats for Centus Marine.'This is the fifth and sixth vessel built by Strategic Marine for Centus Marine and follows the delivery of a 40m FCB in February 2021,' Strategic Marine…

Oil Surges After OPEC+ Extends Cuts

Mar 05, 2021

Oil prices jumped about 3% on Friday, hitting their highest levels in over a year, following a stronger-than-expected U.S. jobs report and decision by OPEC and its allies not to increase supply in April.Brent futures rose $2.10, or 3.2%, to $68…

Hybrid Accommodation Vessel MWV Falgout Delivered

Mar 04, 2021

The Chinese-built hybrid accommodation vessel MWV Falgout has been delivered to end client Brunei Shell Petroleum.The 80-meter vessel, a new purchase for Bruneian owners JISCO Marine Sdn Bhd, will be employed on long-term charter for the Bruneian oil and gas company…

MARKET: Why Don’t OSVs Get Scrapped?

Mar 01, 2021

The OSV sector will be reliant on a hitherto unseen amount of scrapping to balance the market, writes Gregory Brown, Associate Director – Offshore, Maritime Strategies InternationalThere is a consensus that an OSV market recovery will only be driven a supply side rationalization…

Current News

Jindal Bags 3-Year Jack-Up Rig Charter with ONGC

Jindal Bags 3-Year Jack-Up Rig Charter with ONGC

Malaysia Offshore Rig Sinking: All 101 Crewmembers Brought to Shore Safely

Malaysia Offshore Rig Sinking: All 101 Crewmembers Brought to Shore Safely

Northern Offshore Services Takes NYK's CTV on Ten-year Charter

Northern Offshore Services Takes NYK's CTV on Ten-year Charter

Renewables to Grow Much Faster Than Oil Industry Expects, Rystad Says

Renewables to Grow Much Faster Than Oil Industry Expects, Rystad Says

Fred. Olsen Windcarrier Sends Another Jack-Up to APAC, as Siemens Gamesa Extends Brave Tern Charter

Fred. Olsen Windcarrier Sends Another Jack-Up to APAC, as Siemens Gamesa Extends Brave Tern Charter

Exxon Expects $200M in Job Cuts Charges

Exxon Expects $200M in Job Cuts Charges

Saudi Aramco Awards Ten-Year Deal for Shelf Drilling's Jack-Up Rig

Saudi Aramco Awards Ten-Year Deal for Shelf Drilling's Jack-Up Rig

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