SBM Offshore has announced it has completed the project financing of FPSO Prosperity for a total of US$1.05 billion. The project financing was secured by a consortium of 11 international banks. The Company expects to draw the loan in full, phased over the construction period of the FPSO. The financing will become non-recourse once the FPSO is completed and the pre-completion guarantee has been released. The […]

ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), today announced the acquisition of two additional Very Large Crude Carriers (VLCC), bringing the total number of VLCCs added to its fleet in 2021 to eight.  The VLCC fleet expansion plays a significant role in supporting […]

The blockade caused by the grounding of a large container ship in Egypt’s Suez Canal — halting marine traffic through one of the busiest and most important waterways in the world — could have a major impact on the liquefied natural gas (LNG) market if prolonged, according to an analyst at Wood Mackenzie. The ship, called Ever Given, ran […]

SBM Offshore has announced that it has signed a Letter of Intent (LOI) together with Petróleo Brasileiro S.A. (Petrobras) for a 26.25 years lease and operate contract for the FPSO Almirante Tamandaré, to be deployed at the Búzios field in the Santos Basin approximately 180 kilometers offshore Rio de Janeiro in Brazil. Under the contract, SBM […]

AqualisBraemar’s ports & harbour unit has successfully completed its two-year involvement with the development of Sub-Saharan Africa’s first floating LNG import terminal.  The LNG terminal, located in Ghana, recently received a Floating Regasification Unit (FRU) that will shortly enable it to offer services to LNG carriers. Tema LNG Terminal Company, (TLTC), established by Helios Investment […]

On 21st January, Damen Shipyards Group’s revolutionary Fast Crew Supplier (FCS) 7011  was launched into the water at Damen Shipyards Antalya,  Turkey. The vessel, hailed as a quantum leap forward in marine access solutions, is the result of close market consultation. To meet the needs of an offshore industry faced with consistently low oil prices, Damen has […]

The world’s first 100,000-ton deepwater semi-submersible production and storage platform, which is built to ABS Class, has been launched in China, Offshore Engineers reported. China National Offshore Oil Corporation (CNOOC) will now begin installation and commissioning on the China-built platform – named “Deep Sea No. 1” – which is a key component of the  Lingshui 17-2 […]

Damen Shiprepair and Conversion (DSC) said it is wrapping up a ship repair and maintenance program involving seven vessels owned by French shipping and logistics giant CMA CGM. The projects took place at Damen Shiprepair Amsterdam (DSAm) in the Netherlands and Damen Shiprepair Dunkerque (DSDu) in France, with the last vessel scheduled to leave DSDu […]

Oil tanker operator AET has taken delivery of the Eagle Pilar, a new Suezmax Dynamic Positioning (DP2) shuttle tanker. The vessel has been purpose-built for long-term charter to Brazil Shipping I Limited, a Shell subsidiary. The vessel was delivered on Wednesday by Samsung Heavy Industries (SHI) in South Korea. This 153,180 DWT DP2 vessel has […]

Damen the world renowned shipbuilder has developed a new concept vessel, the Offshore Support Vessel (OSV) 9020, featuring a stable platform with lots of accommodation, good station-keeping capability , low carbon emissions and flexibility to add mission-specific tools. The vessel has been designed to perform a variety of offshore tasks both at surface level and […]