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…
Bourbon has announced the renewal of the general waiver with its leasers and debt holders representing the majority of the group’s debt, thus allowing it to suspend the payments of its loans and debt.According to Bourbon, the waiver allows it to stay focused on its operational priorities…
As oil continues to sell below US$50/bbl, 2017 could be one of the toughest years in decades for offshore supply vessel (OSV) companies, according to a study of 44 companies in the industry by AlixPartners. The firm’s analysis highlights these companies’ rising debt burdens…
The Global offshore support vessels industry is estimated to grow from US$39.4 billion in 2014 to $69.34 billion by the end of 2020 at a CAGR of 9.88%, according to a new report by Mordor Intelligence on the Global Offshore Support Vessel Market…
Oceaneering International has entered into a two-year charter for use of the Island Pride, a multi-service subsea support vessel owned by Island Offshore Shipping International. The vessel is expected to be available for work in the US Gulf of Mexico (GOM) in early January 2015…
Sinopacific Shipbuilding Group has been contracted by Mexican shipping company Naviera Petrolera Integral to construct three SPP17A offshore support vessels (OSV), marking the Chinese company’s first foray into the Mexican market. The vessels…
Nam Cheong Ltd a global offshore marine company and Malaysia’s largest Offshore Support Vessel (OSV) builder announced today that it has sold two accommodation work barges (AWB) worth approximately US$84 million. The barges were sold to Perdana Petroleum Berhad…
Norway's Vard Holdings Ltd. has secured a new contract with Island Offshore to build an offshore support vessel based on a Rolls-Royce design. The contract value is more than NOK1 billion (US$167.7 million). Delivery is scheduled from Vard Brevik in Norway in 2Q 2016…
Atlantic Towing has been awarded a contract by ExxonMobil Canada Properties and Hibernia for four new platform supply vessels operating out of St John's, Newfoundland and Labrador. The 10-year contract also includes 15 years of options at the Charterers' discretion…
Brazilian port infrastructure firm Prumo has signed a rental agreement with US vessel builder and operator Edison Chouest. Under the agreement, Edison Chouest will build an offshore logistics support base and ship repair yard for its vessels at Açu Port…
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