News Letter

Standard Drilling finds new work for supply vessels

Offshore vessel operator S.D. Standard Drilling has secured more work for its fleet of platform supply vessels. The vessel utilization for the company’s owned large size PSVs totalled 74 per cent in October and November. The Standard Viking, one of four large platform supply vessels (PSVs) owned by Standard Drilling, has won a one-year firm TC contract with an unnamed “oil major” at levels above opex, the vessel owner said on Friday. The contract is scheduled to start at the beginning of 1Q 2021. It will secure solid utilization for one year with further 2×1 year options at increased rates.In mid-December 2020, the Standard Princess started on a nine-month firm TC contract with CNR.The vessel then has three one-month options at increased rates. The Standard Supplier is currently on a 45 days firm contract with Equinor, which also has 45 days options. The Standard Olympus is currently in-house for maintenance. The commercial terms of the contracts remain private and confidential. The utilization for the large size PSVs was on average 74 per cent in October and November, excluded Standard Olympus that has been in-house. Standard Drilling has ownership in 12 PSVs in total. Out of these, four large size PSVs are wholly owned while eight mid-size vessels are partly owned through 28 per cent ownership in Northern Supply. Out of these eight vessels, three are working on term contracts in the North Sea, three more are held in house for maintenance, one is in warm lay-up, and another one is also in lay-up.

Port of Corpus Christi joins SEA-LNG coalition

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The Port of Corpus Christi, the largest port in the United States by total revenue tonnage, has joined the multi-sector industry coalition SEA-LNG. SEA-LNG said on Thursday that the Port of Corpus Christi was the fourth North American port to join the coalition but is the first port located on the strategic and energy-rich Gulf of Mexico. Peter Keller, chairman of SEA-LNG, said: “The Port of Corpus Christi is one of the United States’ leading energy ports, and has been quick to appreciate the importance of LNG into its bunker offering. “We’re delighted to welcome this forward-thinking and innovative port into our membership at a time when the maritime sector continues to aggressively work to decarbonise its operations as well as reduce local emissions harmful to human health. “Ports are indispensable in driving the maritime sector’s decarbonisation, and LNG as a marine fuel is the only viable option that enables the sector to reduce its emissions now while paving a clear, cleaner, long term pathway for decarbonisation through the use of bio and synthetic LNG products”. The Port of Corpus Christi’s decision to join SEA-LNG is a part of its commitment to environmental stewardship. The Port, which purchases 100 per cent of its power from renewable sources, is upgrading its vehicle fleet to electric and hybrid technology and is creating a technological advancement programme to promote innovative solutions for emissions control and decarbonisation. The Port CEO Sean Strawbridge added: “As the leading energy port in the Americas, the Port of Corpus Christi considers LNG indispensable in our energy export portfolio, with the expansion of local operations helping to propel the United States as a top global LNG exporter.

DOF Subsea scores multiple contracts in Atlantic region

Oslo-listed engineering and marine services player DOF Subsea has been awarded multiple new contracts for execution in the North Sea, Mediterranean and Africa. Contracted work includes a number of turnkey subsea projects within the company’s core service lines – Survey, Inspection, Maintenance & Repair (IMR) and Construction. The vessels Skandi Acergy, Skandi Skansen, Skandi Neptune and Skandi Seven will be used to deliver work totalling more than 180 vessel days excluding any options. In the North Sea, DOF Subsea will assist a key client with winter subsea inspection programme at UK continental shelf, whilst supporting a leading operator with start-up and commissioning activities for a subsea satellite development in Norway, the company said. In Angola, DOF Subsea will carry out a greenfield AUV and ROV seabed mapping campaign for an international client, prior to commencing a previously announced contract. Also, DOF Subsea has mobilized Skandi Neptune from the North Sea for an undisclosed international client in Africa, conducting FPSO class and field inspections programme.


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Windcat Workboats changing hands

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SEACOR Marine has entered into an agreement with Compagnie Maritime Belge (CMB) to sell its wholly-owned subsidiary Windcat Workboats and its crew transfer vessel (CTV) business. As consideration for the sale, at the closing of the transaction, CMB will pay SEACOR Marine £32.8 million, and assume the circa £20.4 million of debt outstanding under Windcat’s existing revolving credit facility. The transaction is expected to close on or prior to 12 January 2021. The existing Windcat management team will continue to lead the company after the completion of the transaction. Windcat owns and operates, directly or through its joint ventures, a fleet of 46 CTVs in the European offshore wind sector. It is headquartered in Lowestoft, the UK, and IJmuiden, the Netherlands, and has joint ventures with FRS Windcat Offshore Logistics in Germany and TSM Windcat in France. “The acquisition of Windcat fits into CMB’s strategy to diversify its business portfolio into the fast-growing offshore wind market and scale up the deployment of hydrogen ships and engines,” said Alexander Saverys, CMB CEO.


Vantage jack-up scores new job off E. Guinea

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Offshore drilling contractor Vantage Drilling has been awarded a contract for one of its jack-up drilling rigs by Trident Energy. In its fleet status report this week, Vantage said that the Sapphire Driller has been awarded two firm wells with Trident Energy in Equatorial Guinea. The Sapphire Driller is a jack-up rig of a BMC 375 design built in 2009. The contract with Trident also includes five options and is scheduled to start in the second quarter of 2021. Vantage has not revealed any further details about the contract, including the day rate, but Bassoe Offshore estimates it to be around $75,000. Trident Energy is an oil and gas company with two producing fields, three exploration blocks, and six platforms in Equatorial Guinea. The Ceiba field and Okume complex are located in the Gulf of Guinea, in water depths ranging from 50m to 800m. Trident is the operator of the G Block producing-fields, while Kosmos operates the surrounding exploration acreage: Block S, Block W and Block EG-21.