Island Offshore to restructure finances
NOVEMBER 15, 2016 — The Island Offshore group, which is majority owned by the Ulstein and Chouest families, is taking steps to restructure its financing. An Oslo Stock Exchange announcement today says:
NOVEMBER 15, 2016 — The Island Offshore group, which is majority owned by the Ulstein and Chouest families, is taking steps to restructure its financing. An Oslo Stock Exchange announcement today says:
APRIL 7, 2016 — Ulsteinvik, Norway, headquartered Island Offshore — in which the Ulstein and Chouest families are partners — says that its two vessels, Island Valiant and Island Constructor have secured
MARCH 18, 2016 — Media coverage of Canada’s National Shipbuilding Procurement Strategy (NSPS) continues to stir controversy as it becomes apparent that Canada’s largest shipyard, Quebec’s Chantier Davie Canada, won’t just quietly
That’s heartening news for Offshore Support Vessel (OSV) operators such as Tidewater, Edison Chouest, Bourbon, Hornbeck Offshore, Seabulk and Maersk, which are dealing with the current challenging offshore oil and gas market. In a presentation at the recent Johnson Rice 2015 Energy Conference, Tidewater reported it had 38 vessels stacked as of the end of June and planned to scrap 11 older vessels.
In its monthly report for September, Baker Hughes reported that there were 29 drilling rigs operating in the Gulf of Mexico, down from 59 a year ago.
Mordor Intelligence’s report, the “Global Offshore Support Vessel Market,” focuses on the market sectors by vessel type, including Anchor Handling Tug/Anchor Handling Towing Supply Vessels (AHT/AHTSs), Multi-Purpose/Multi-Role Supply Vessels (MPSV), Platform Supply Vessels, Construction Support Vessel (CSV), Specialty Vessels and others. It also breaks down activity by region: North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA). The report analyzes and projects the market share of each region for the next 5 years.
Most promising regions for OSV market are the Gulf of Mexico, Brazil, West Africa, the North Sea, South East Asia, the Middle East and Asia. Mordor Intelligence estimates that major part of the demand will be for AHTS, PSVs, and seismic research vessels.
As oil and gas explorations move towards deeper waters, explains Mordor Intelligence, multi-functional offshore support vessels are now called upon to perform different tasks, and have created various niches or categories within the market. Present day offshore support vessels are equipped with increased cargo capacity, panoramic navigation bridge visibility, large accommodation spaces, enhanced crew amenities and state-of-the-art propulsion and automation systems.
According to Mordor Intelligence, AHTS vessels comprise a 56% of the market share, followed by Platform Support Vessels. Inspection, Maintenance and Repair (IMR) Vessels are generally equipped with large accommodation spaces, heavy lift cranes, helidecks and streamlined bow forms for operation in harsh environments. Vessels specialized for multi-tasking carry out maintenance and repair operations on platform facilities, as well as subsea pipelines and equipment.
AUGUST 30, 2015 — The Department of Defense reported Friday that Edison Chouest’s Alpha Marine Services LLC, Galliano, LA, was awarded a $6,965,712 firm-fixed-priced contract April 22 for the time charter of
MAY 28, 2015 — Even though no environmental damage resulted, opponents of Alaskan drilling are likely to find ammunition to use in the National Transportation Safety Board’s findings in its investigation of
MARCH 4, 2015 — Rolls-Royce has been awarded a ship equipment contract worth about $30 million by Edison Chouest Offshore (ECO). The contract covers the supply of azimuth main propulsion, propulsion control
DECEMBER 23, 2014 — Lockport, LA, based Bollinger Shipyards today announced that Ben Bordelon will assume the duties of Chairman, President and Chief Executive Officer of the company. Ben Bordelon, along with
NOVEMBER 20, 2014 — Production is in full swing at Norway’s Ulstein Verft on the first of the two giant SX165 design construction vessels ordered by Edison Chouest Offshore and Island Offshore
OCTOBER 3, 2014 — Island Offshore, in which the Chouest and Ulstein families are partners, has placed an order with shipbuilder Vard for an 86 m x 18.5 m offshore support vessel.