Focus on Offshore Oil and Gas Operations
OFFSHORE WEEK
The string of bad luck for the beleaguered OSV market continues as the effects of the coronavirus lingers and the Russian invasion of Ukraine showing no signs of slowing.
Meanwhile, bankruptcies, takeovers and instances of corruption and mismanagement are almost weekly occurrences, as regular readers of Baird Maritime’s Offshore Accounts column would be painfully aware of.
Follow-on effects of the Russian invasion have also laid bare the holes in the renewables dream, with nuclear energy seriously back on the table for the first time in decades. How this will effect its less efficient competition in wind and tidal remains to be seen, but the most heavily subsidised sectors are always vulnerable in a large-scale energy shake-up.
OSVs • Exploration • Extraction • Processing • Construction • Storage • Operations • Renewables
Many of the vessels built before 2015 are large, powerful and versatile, and if maintained well, they are still good and useful ships. This continues to put a significant dampener on the OSV newbuilding market, while the second-hand market remains stagnant.
Despite all the bad news, some innovative and versatile newbuilds continue to be delivered and the refit/conversion market remains strong, as readers will see this week. Exciting times are ahead one way or another for this volatile market.
Vessel Reviews:
- VESSEL REFIT | Runneng 168 – Versatile, high-capacity cable-layer for Chinese waters
- Vito RPF – Shell Offshore’s newest floating production unit for deployment in Gulf of Mexico
- Zhongguo Sanxia 101 – Chinese exploration jackup to support offshore wind projects
- VESSEL REFIT | Orient Constructor – Construction vessel rebuilt as walk-to-work asset for Taiwan’s Dong Fang
- Yihangjin Zhuang – Chinese newbuild is world’s largest offshore piling vessel
- VESSEL REFIT | Esvagt Heidi – Platform supplier returns to service as North Sea standby vessel
- Platform support RIB trio for Saipem’s Saudi Arabia operations
- COS Master – Coastwise Offshore Services’ new windfarm crewboat with secondary survey and civil works capabilities
- Rem Energy – Battery-powered, windfarm maintenance vessel for Norway’s Rem Offshore
News and Gear:
- ABS issues publication on best practices for safer FPSO operations
- Polish builder launches new windfarm support workboat for Fairplay Towage
- UK to remain Europe’s largest offshore wind market through 2030
- Louis Dreyfus Armateurs’ newest crewboat floated out
- GEAR | DEME Offshore to develop motion compensation systems with Dutch partner
- ABS awards AIP for new turbine installation vessel design
- UK firm to build renewables support vessel
- Work Boat World Offshore Vessel Orders and Deliveries Roundup – May 4, 2022
- NTSB opens public docket for investigation into Seacor Power capsizing
- Havila Shipping sells two PSVs
- GEAR | New joint venture to support crew change operations in North Sea
- Work Boat World Offshore Projects Roundup – April 21, 2022
- Harren and Partner welcomes jackup crane vessel to fleet
- ABS awards AIP for Japanese FLNG design
- BW Offshore to sell laid-up FPSO
- NGO claims blast killed yard worker during FPSO recycling in Alang, India
Recent Important Features:
– “There have been genuine achievements by UDS, for example, in early March 2022, the company recovered a downed American fighter jet from water depths of over 3,700 metres in the South China Sea.”
– by Hieronymus Bosch, Baird Maritime‘s anonymous insider in the world of offshore oil and gas operations
– “With judicious bail outs from shareholders and support from lenders, the oil and gas services business is returning to good health.”
– by Hieronymus Bosch, Baird Maritime‘s anonymous insider in the world of offshore oil and gas operations
– “A strong parent company can shield a company against the worst of the market cycle, and the worst adverse shocks fate can throw, allowing them to reap upside when the market finally turns.”
– by Hieronymus Bosch, Baird Maritime‘s anonymous insider in the world of offshore oil and gas operations
AWARDS 2021 | Best OSV – DSV – K&C One – Grani
– “The vessel stands out for combining an original design with a durable steel hull with relatively small size.”
AWARDS 2021 | Best OSV – Medium Crewboat – Tamimi 6 – Grandweld Shipyards
– “The vessel belongs to a series designed to provide greater deadweight capacity at higher speeds and with a deep draught.”
– “As the Ukrainian people continue to suffer under Russian attack, companies and their ties to Russia are going to face increasingly difficult questions.”
– by Hieronymus Bosch, Baird Maritime‘s anonymous insider in the world of offshore oil and gas operations
AWARDS 2021 | Best Gangway Supplier – SMST
– “Our motion compensated gangways, the so-called ‘telescopic access bridges’ (TABs), stand out with the lowest energy consumption and highest workability in the market.”
AWARDS 2021 | Best OSV – AHTS – Sayan Prince – Tersan Shipyard
– “She has a fully integrated ROV hangar, a depth rating of 3,000 metres, and a high degree of redundancy for a mechanical driven AHTS in the current market.”
AWARDS 2021 | Best SWATH Crewboat – FOB SWATH 10 – Oma Baatbyggeri
– “Unique features such as the ability to choose between catamaran and SWATH operating mode and specially designed bow fenders offer significantly improved efficiency and safety.”
AWARDS 2021 | Best OSV – Large Crewboat – Jana 21 – Piriou
– “It is a heavy duty vessel with a number of modifications in fulfilment of owner specifications, especially increased speed thanks to a new propulsion system.”
AWARDS 2021 | Best OSV – Small Crewboat – Petro Craft 1905-10 – OCEA
– “The craft offers an increased capacity of 40 seats, compared to 30 for all the other units in the same series that we delivered so far.”
Call for content!
Any news or views about the global offshore industry? Send it through to [email protected] ASAP (between now and May 6), so we can add it to this current edition of Offshore Week!
We are after:
- Vessels – Orders, new deliveries, under construction
- Gear – Latest innovations and technology in the offshore vessel sector
- Interviews – Owners, operators, designers, builders etc.
- Reminiscences – Do you have any exciting, amusing or downright dangerous anecdotes from your time in the offshore world? (example here)
- Other – Any other relevant news
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