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News from the Offshore Supply Vessel Industry

IMCA publishes SIMOPS guidance

Submitted by Tug on 18. May 2010 - 17:42

Doing two or more things at the same time can be difficult under any circumstances. The risks associated with simultaneous marine operations (SIMOPS) in support of offshore oil and gas exploration and production, for example, related construction and survey activities, can be great and potentially dangerous.

In an effort to eliminate, minimise and manage these risks through proper planning, communication and supervision, the International Marine Contractors Association (IMCA) has published ‘Guidance on Simultaneous Operations (SIMOPS)’ (IMCA M 203).

Rolls-Royce wins order to equip seven offshore vessels in Brazil

Submitted by Tug on 17. May 2010 - 15:35

Rolls-Royce, the global power systems company, has received orders worth approximately £15 million to supply propulsion and control systems for seven offshore vessels being built in Brazil. The orders mark the continuing strength of the offshore segment in Rolls-Royce and reflect the company’s strong presence in the Brazilian market.

Sealink wins vessel charter contract

Submitted by Tug on 16. May 2010 - 14:02

SEALINK International Bhd has won a long-term charter contract for an offshore support vessel to Australia and sold another vessel to an overseas client last March.

The company told Bursa Malaysia that both deals were worth a combined RM88 million.

The charter deal is for a period of three years, while the vessel sold is expected to be delivered around year-end.

For the first five months of 2010, Sealink secured long term charters and sale of vessels of some RM146 million.

Teekay Offshore Partners Reports First Quarter Results

Submitted by Tug on 14. May 2010 - 10:46

- Generated distributable cash flow of $27.6 million in the first quarter of 2010, up from $18.2 million in the fourth quarter of 2009.

- Increased quarterly distribution by 5.6 percent to $0.475 per unit for the first quarter of 2010.

- Strong operational performance led to a strong coverage ratio of 1.29x, including the increase to the first quarter's distribution, compared to a coverage ratio of 1.03x in the previous quarter.

Greatship Plans IPO

Submitted by Tug on 14. May 2010 - 10:44

Greatship (India) Ltd., the offshore services unit of Great Eastern Shipping Co. Ltd., proposes selling more than 22 million shares in an initial public offering, it said in a draft prospectus filed with the capital markets regulator.

The company said it would use 1.12 billion rupees ($24.9 million) from the IPO to fund the acquisition of four vessels, to be delivered by the second half of 2011-12, while 1.63 billion rupees would be used to repay a portion of its debt.

Ultrapetrol Reports Financial Results for First Quarter 2010

Submitted by Tug on 14. May 2010 - 10:43

Ultrapetrol (Bahamas) Limited (ULTR 6.05, -0.08, -1.31%) , an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), today announced financial results for the first quarter ended March 31, 2010.

Dockyard lays keel for biggest anchor handling tug supply vessel for Samoa

Submitted by Tug on 13. May 2010 - 16:01

Colombo Dockyard Plc (CDPLC) laid the keel for the construction of the 1st of a series two numbers 130 Ton Bollard Pull Anchor Handling Tug Supply Vessels (AHTSVs) for the State of Samoa, at the auspicious time of 1024 am on 11 May 2010.

STX Europe to build Platform Supply Vessel for Simon Mokster Rederi

Submitted by Tug on 13. May 2010 - 16:00

STX Europe has entered into a new contract with Simon Møkster Rederi for the building of a Platform Supply Vessel (PSV). The vessel is of STX Europe PSV 09L CD design. The vessel is scheduled for delivery in Q1 2012.

Roy Reite, President of STX Europe's Offshore & Specialized Vessels business area, says: "I am very pleased that Simon Møkster Rederi again has placed a new building contract with STX Europe. With this contract, we have two Platform Supply Vessels under construction for delivery in 2011 and 2012 to Simon Møkster Rederi."

Bourbon wins contracts for 8 Bourbon Liberty supply vessels and 5 crew boats for Petrobras in Brazil

Submitted by Tug on 10. May 2010 - 15:13

Bourbon Offshore Maritima, formerly Delba Maritima Navegação, the BOURBON subsidiary in Brazil, has strengthened its position on the Brazilian market by signing contracts with Petrobras for 13 new vessels. The contracts cover:

1 Bourbon Liberty 200, an 80-tonne traction AHTS (Anchor Handling Tug Supply vessel), for three years from May 2010;
7 Bourbon Liberty 100, a PSV (Platform Supply Vessel), for four years. These vessels will be put into service between June and October 2010;

Hornbeck Offshore reports lower first-quarter net income

Submitted by Tug on 6. May 2010 - 18:17

Hornbeck Offshore Services, citing a recession-driven decline in the average daily rental rates it has been able to collect on its fleet of offshore supply vessels, reported lower first-quarter net income this morning.
The Covington company recorded first-quarter net income of $2.6 million, or 9 cents a share. In the same period one year ago, Hornbeck had net income of $27.1 million, or $1.01 per share.
The company's revenue fell 21 percent in the first quarter to $86.2 million, from $109.6 million a year ago.