The offshore supply vessel (OSV) industry has emerged from its 2017 trough, thanks in large part to a slight shrinkage of the active fleet, a string of debt restructurings, improved cost management, and an uptick in drilling activity in a few regions. The industry is far from healthy, though, and the climb back to financial well-being will likely be long and unsteady.
A ‘work in progress,’ the North American brown water, shallow draft sectors have experienced a tumultuous year of evolution, changing market conditions, a rapidly shifting regulatory environment and new opportunities. Anything but boring; and within the pages of Maritime Reporter’ & Engineering News’ Annual Yearbook, Joseph Keefe, editor of sister-publication MarineNews
France and Italy forged a military shipbuilding alliance on Friday, as state-controlled Naval Group and Fincantieri signed off on a 50-50 joint venture that will bid for Franco-Italian warship projects and sell to the world market.The alliance reflects the two countries' desire to fend off competition in naval shipbuilding from the likes of China, the United States and Russia.
President Donald Trump is set to meet with Republican senators on Wednesday over a proposal to waive rules that only U.S.-flagged ships can move natural gas from American ports to Puerto Rico and the U.S. Northeast.The nearly 100-year-old Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts.
Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its Seabreeze market report follows this convention with a description of the “feast or famine” conditions in the North Sea.
At the end of December, the U.S. Army Corps of Engineers (ACE) announced its selection of ten dredging projects that will form the core of a pilot program to advance the beneficial use of dredged material.The recent U.S. Army Corps of Engineers’ announcement culminated a program required by Congress, established within the Water Resources Development Act (WRDA) of 2016, specifically Section 1122.
WinGD (Winterthur Gas & Diesel) has invested in fuel research with the development of a flexible injection system. In a whitepaper released today, ‘Flexible Injector to Advance Alternative Fuels Research’, the engine designers describe how the concept will play a crucial role in its investigations into low-carbon liquid fuels and engine injection concepts to harness them.
Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday.Argentina's export joins a wave of new supply flooding the spot market which has depressed Asian spot prices to their lowest in a decade for this time of the year.The state-owned firm issued a tender which closed on Nov. 6 to sell 2.
Four people were injured Friday morning when a Boston-bound ferry ran aground off Long Island in Boston Harbor, the U.S. Coast Guard said. At approximately 7:45 a.m., J.P. Vega, operations manager for Boston Harbor Cruises, reported to Coast Guard watchstanders that the ferry Lightening ran aground with 84 people aboard.
ABS has been selected to class two Offshore Supply Vessels (OSV) being retrofitted with a battery/converter system by Harvey Gulf International Marine.The Harvey Energy will become the first ABS-classed dual fuel and battery vessel and the first U.S. flagged OSV equipped with a battery/converter system.
A Republican U.S. senator on Wednesday said President Donald Trump will not waive rules requiring that only U.S.-flagged ships move natural gas from American ports to Puerto Rico and the U.S. Northeast.The nearly 100-year-old Jones Act mandates the use of U.S.-flagged vessels to transport merchandise between U.S. coasts.
Eagle and Falcon, sister vessels and the workhorses of the Offshore Heavy Transport (OHT) family, were coincidentally working side by side in Singapore earlier this month loading two jack-up rigs.Eagle started her loading operation of the 14,527 mt CJ46 jack-up rig Noble Johnny Whitstine from 14 February, said a press note from the heavy transport vessel operator .