Dof buys out First Reserve to take full control of Dof Subsea

Restructuring OSV owner Dof has bought out the other shareholder in its Dof Subsea subsidiary. The Norwegian company said it had paid NOK 20m ($2.2m) for the 35% stake in its subsea unit, taking its holding to 100%. The sellers were FR Dolphin Lux Holding and Dolphin Invest 2, both controlled by US-based fund First Reserve. “The acquisition is closely associated with the ongoing refinancing of Dof Subsea,” it said….

November 19, 2019
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Wintermar wins seven-year contracts for PSV duo

Indonesia’s Wintermar has fixed out two platform supply vessels (PSVs) for seven years each. The company said the unnamed ships will take cargo out to rigs for a major oil and gas company in eastern Indonesia. Sugiman Layanto, Wintermar’s managing director, said the Source: http://www.tradewindsnews.com

November 18, 2019
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Regulatory delays put brake on US windfarm vessel gold rush

Regulatory delays are holding up a potential bonanza for European shipowners hoping to tap into the multibillion-dollar US offshore wind sector. An environmental impact statement decision on Spanish utility Iberdrola’s 84-turbine Vineyard Wind 1 off Martha’s Vineyard, Massachusetts, had been ­expected earlier this year, but it keeps being pushed back by the federal Bureau of Ocean Energy Management. Emily Huggins Jones, a specialist in the sector and a partner at…

November 4, 2019
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Kuok launches offer to take POSH private

The Kuok family has launched a bid to acquire all the outstanding shares in PACC Offshore Services Holding (POSH), one of Asia’s largest operators of offshore support vessels. The voluntary conditional cash offer is being undertaken by Quetzal Capital, a vehicle formed by Source: http://www.tradewindsnews.com

November 4, 2019
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Seacor Marine sells North Sea emergency vessels

Seacor Marine is selling its North Sea emergency response vessel business to the UK’s North Star Shipping in a deal worth up to £23.5m ($30.3m). The New York-listed offshore player announced the 19-ship deal, expected to close in December, Friday morning. It will Source: http://www.tradewindsnews.com

November 1, 2019
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Solstad sells laid-up vessel while holding off debt payments

Solstad Offshore has sold a laid-up platform supply vessel (PSV) and has agreed with bondholders to further postpone its debt payments. The Oslo-listed company has sold the 3,100-dwt Far Swift (built 2003) for an undisclosed amount to an unnamed buyer. VesselsValue.com Source: http://www.tradewindsnews.com

November 1, 2019
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Solstad anchor-handlers win long-term contracts in Australia

Two anchor-handlers owned by Solstad Offshore have won contracts at the Ichthys LNG development in Australia. Inpex Operations Australia has fixed the 24,000-bhp vessels Normand Scorpion (built 2009) and Normand Sirius (built 2014) on three-year contracts at an undisclosed rate. The two anchor Source: http://www.tradewindsnews.com

October 30, 2019
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Equinor hires Dof anchor handler for an extra six months

One of Dof’s anchor handlers has won a contract extension from Equinor Energy, while the shipowner works on securing long-term financing. The Norwegian state energy producer will keep the 35,024-bhp Skandi Vega (built 2008) on hire for another six months, Source: http://www.tradewindsnews.com

October 18, 2019
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BW Offshore to redeploy FPSO after deal terminated

BW Offshore (BWO) is moving an FPSO out of New Zealand after Tamarind Resources ended its charter. Preparations will now be made to demobilise the Umuroa from the Tui field. The contract ends on 31 December. The extension to the end of this year was signed in July 2018. Source: http://www.tradewindsnews.com

October 15, 2019
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Nigerian piracy ‘good’ for Penguin’s business, says analyst

Nigeria’s piracy riddled waterways are providing good news for at least one company, say analysts at Singapore’s UOB Kay Hian. The finance house has just initiated coverage of small boat builder Penguin International with a ‘buy’ recommendation. “Nigeria, Penguin’s main market with around 40% revenue contribution, has been plagued by piracy off its coastal waters,” said analyst Llelleythan Tan. “It has been consistently in the top two with regards to…

October 15, 2019
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