Vessels News

Norwegian subsea services firm Reach Subsea has received a letter of intent for a multi-year contract covering inspection, maintenance and repair (IMR) and light construction services in the Mediterranean and Black Sea.Aside from the letter of intent, covering a 2+1-year IMR and light construction services, Reach Subsea has also entered into a separate letter of intent with Solstad Maritime for the charter of the vessel Normand Jarstein in connection with the award.A commitment has been signed to commence the vessel’s transit this week…

Multidisciplinary consultancy AGR has entered into a partnership agreement to onboard the offshore support vessel Aquaman II, expanding its capacity for subsea operations, plug and abandonment (P&A) and decommissioning work in the North Sea.The vessel, owned by Star Matrix and to be operated by AGR, will be configured as a light construction anchor handling tug supply vessel to support subsea and offshore campaigns.AGR said the addition strengthens its marine spread as activity increases across vessel-based subsea operations…

Norwegian offshore vessel owner and subsea services provider DOF Group said it has secured a contract for subsea commissioning support services in the Asia-Pacific region, with offshore operations planned in North Australian waters.The company said its vessel Skandi Inventor will be deployed for the campaign, which is scheduled to begin in the second quarter of 2027 and is expected to last between 120 and 180 days.The scope of work includes project management, engineering, procurement…

Tidewater Inc. has announced a revenue drop for the three months ended March 31 of $326.2 million compared with $333.4 million for the three months ended March 31, 2025.Tidewater's net income for the three months ended March 31, 2026, was $6.1 million ($0.12 per common share), compared with net income of $42.7 million ($0.83 per common share) for the three months ended March 31, 2025.Quintin Kneen, Tidewater’s President and Chief Executive Officer, commented, “The first quarter of 2026 exceeded our expectations across all key financial and operational measures…

The changing global bottom-fixed offshore wind turbine and foundation installation marketThe last two or three years have seen a change in the underlying stakeholder support for the energy transition, resulting in the energy trilemma being focused more on energy security and affordability than transition, which means a pivot away from renewables to increased support for oil & gas. At the same time, inflation and interest rates have impacted project economics. Needless to say,…

Norwind Offshore has doubled its fleet through the acquisition of six commissioning service operation (CSOV) vessels from Edda Wind.The transaction was completed in partnership with Navigare Capital Partners, the company said.The vessels have either recently been delivered or are in the final stages of delivery and are designed for offshore wind operations, featuring Vard 4 25 and SALT 0217 designs.“This transaction marks a significant step forward for Norwind Offshore. It is not just about the scale – it is about readiness.

North Star, a fully integrated offshore infrastructure service provider, has completed the acquisition of four new Service Operation Vessels (SOVs) from Edda Wind.The transaction takes its offshore wind fleet to 14 vessels, among Europe’s largest.The four SOVs, which are currently deployed on offshore wind contracts, provide immediate access to high-specification capacity and enhance North Star’s flexibility in meeting customer needs across key European markets. North Star's financial…

Mitsui O.S.K. Lines (MOL) and its partners have secured approval in principle (AiP) from the American Bureau of Shipping (ABS) for the basic design of an unmanned autonomous rocket recovery vessel.The project is being developed with Innovative Space Carrier and TSUNEISHI SOLUTIONS TOKYOBAY.The approval covers the overall offshore recovery system, including the recovery vessel, a support vessel and an onshore control system.MOL said the concept is designed to support offshore rocket…

Akastor’s subsidiary DDW Offshore has entered into a binding agreement to sell Skandi Emerald anchor handling tug supply (AHTS) vessel for $23 million.The AHTS, built in 2011, is designed for operations across a range of water depths and environmental conditions.Completion of the transaction is subject to customary conditions and is expected in the second quarter of 2026.Following the sale, DDW Offshore’s revolving credit facility will be reduced from $16 million to $8 million.The companies did not reveal the name of the buyer or any other details.

Shearwater Geoservices has agreed to sell the vessel SW Baret to an undisclosed buyer for conversion into a dedicated source vessel.The agreed sales price exceeds the vessel’s carrying book value and is expected to result in a gain in Shearwater’s accounts, as well as a positive impact on liquidity, the company said.Completion of the transaction is expected late in the second quarter of 2026.The vessel, built in 2012, has been in lay-up since 2021 and will undergo modifications following the sale…

South Korean shipbuilder Hanwha Ocean said in its first-quarter earnings presentation on Monday that uncertainty is rising over demand for commercial vessels due to the ongoing conflict in the Middle East.The market for very large crude carriers (VLCCs) has been hit hard by the Iran war, the company said, as shipping rates have soared with some crude carriers stuck in the Strait of Hormuz.The demand for container vessels is forecast to decline as worries mount over inflation and the slow growth of the global economy amid the war, the company said.In the long term, demand for commercial vessels

Wärtsilä has signed a long-term overhaul agreement with Sweden’s Erik Thun Group, covering maintenance and technical support across its fleet.The agreement, developed with fleet management partner MF Shipping Group, includes overhaul services, field and technical services, workshop support and spare parts supply.The work is aimed at supporting the performance and lifespan of engines, propulsion systems and shaft line equipment across the fleet.Wärtsilä will provide maintenance and field services to reduce downtime…

Ocean services provider DeepOcean has secured a contract to support installation of inter-array cables at the TPC offshore wind farm phase 2 (TPC-II) off Taiwan.The scope includes installation of cables connecting turbines to offshore substations, as well as engineering and project management services.DeepOcean will work with Dong Fang Offshore and use the subsea vessel Orient Adventurer, which has been upgraded with new remotely operated vehicles, an under-deck carousel and a cable lay system.“We look forward to working together with Dong Fang Offshore on this significant project.

Offshore services provider Bourbon has expanded its fleet with 13 vessels valued at more than $180 million since the start of 2026, as it seeks to strengthen its position in offshore markets, the company said.Ten of the vessels are already under contract, reflecting demand for offshore support vessels (OSVs), Bourbon said.The expansion includes the acquisition of six diesel-electric vessels from the Minsheng Group, comprising five platform supply vessels (PSV) and one 80-ton bollard pull anchor handling tug supply vessel (AHTS)…

Malaysia-based offshore support vessel (OSV) provider Nam Cheong has sold two vessels for $36.7 million, including its first newbuild sale in more than a decade.The transactions include a newly built multi-purpose support vessel (MPSV) and a 120-tonne anchor handling tug supply (AHTS) vessel, which was 16 years old and divested following the completion of its charter contract in the first quarter of 2026.Both vessels were delivered in the second quarter of 2026 to a vessel operator…

Oil prices jumped on Wednesday with Brent trading above $100 a barrel, erasing earlier losses following reports of gunfire attacks on at least three container ships in the Strait of Hormuz.Brent crude futures LCOc1 were up $1.59, or 1.6%, at $100.07 a barrel at 0842 GMT. West Texas Intermediate futures CLc1 rose $1.51, or 1.7%, to $91.18. Both benchmark contracts rose about 3% on Tuesday.At least three container ships were hit by gunfire in the Strait of Hormuz on Wednesday, maritime…

At least three container ships were hit by gunfire in the Strait of Hormuz on Wednesday, maritime security sources and the United Kingdom Maritime Trade Operations (UKMTO) said.Iran has imposed restrictions on ships using the strait, first in retaliation for the U.S.-Israeli bombardment of the country, and then in response to a U.S. blockade of Iranian ports.A Liberia-flagged container ship sustained damage to its bridge after being hit by gunfire and rocket-propelled grenades northeast of Oman.The UKMTO said the master of the vessel reported being approached by an IRGC gunboat.

Stillstrom, a unit of A.P. Moller - Maersk, has launched two offshore charging systems aimed at supporting vessel electrification in the offshore wind sector.The new solutions, Power Hub and Power Tower, are designed as standalone systems that can be deployed independently of wind turbine infrastructure, enabling flexible charging options for vessels operating at sea.The systems are based on monopile designs and target one of the key challenges in offshore wind operations - the reliable supply of electric power for service vessels used in installation…

Mermaid Subsea Services (UK) has extended its contract for the subsea support vessel Island Valiant, reinforcing its position in the North Sea decommissioning market.The vessel has supported Mermaid’s operations in the region for the past three years, including well plug and abandonment (P&A) and inspection, repair and maintenance (IRM) campaigns.The new agreement commits the vessel to operations in the basin for a further 12 months as activity in the North Sea is expected to increase.Mermaid…

China-based offshore wind foundations manufacturer Dajin Heavy Industry has launched a 40,000 DWT deck carrier, KING TWO, at its Panjin shipbuilding facility.The vessel, launched on April 19, is the second large-scale deck carrier built at the facility, following KING ONE, which has already completed its maiden voyage.KING TWO measures 239.8 meters in length, 51 meters in breadth and 13 meters in depth, with a deck area of 12,000 square meters.The vessel is equipped with dual engines and dual propellers…

Astro Offshore has added a new ultra-deepwater multi-purpose support vessel (MPSV) to its fleet, strengthening its subsea capabilities and expanding into international markets.The vessel, Energy Savannah, which will be renamed Astro Atlas, is a 97-metre DP2 multipurpose support vessel and the largest in the company’s fleet.Equipped with a 150-tonne subsea active heave compensated crane, a 25-tonne secondary crane, a moonpool and accommodation for up to 100 personnel, the vessel is designed to support offshore operations including subsea construction…

LD TravOcean, a subsidiary of Louis Dreyfus Armateurs (LDA) Group, has acquired a DP2 multipurpose support vessel as part of efforts to expand its subsea capabilities.The vessel, SIDDIS Mariner, will be renamed TVO Mariner and is scheduled for delivery in summer 2026.The company said the acquisition is aimed at enabling the delivery of integrated subsea solutions combining vessel operations, equipment and expertise.The vessel will support activities including telecom cable work…

UK-based shipowner/operator North Star has strengthened its executive team with new senior appointments as it expands its offshore wind and maritime operations.North Star appointed Duncan Palmer as its first Chief Human Resources Officer, promoted Joanna Lang to Chief Legal and Compliance Officer, and named Kenneth Coughlan as Chief Technology Officer.The company said the changes support its strategy to grow its client base, talent pipeline and offshore wind activities, as well…