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OSV operators collaborate to advance digitalization

A group of Norwegian OSV operators, with DNV GL as facilitator, has started a joint project to reduce emissions and improve operational efficiency, competitive clout and safety through digital transformation.

OSV owners to be affected from S. Arabian Maritime Law

Saudi Arabia introduced, for the first time, a bespoke Commercial Maritime Law, the Maritime Law, which came into effect on 3 July 2019. According to Lexigram, the Maritime Law applies to all Saudi Arabia-flagged vessel and foreign ones that arrive at the Kingdom’s ports and territorial waters. 

Norwegian offshore owners impacted by inflated market values

According to Vessels Value, leading offshore owners are feeling the impacts of overzealous valuations of the past. Because of today’s offshore market conditions, asset values have suffered greatly, making vessel financiers worried about the prospects of recouping money lent to finance inactive offshore fleets. The market valuations are more than likely breaking mortgage covenants, and the write downs that are necessary are more significant because of the original generous valuations of these assets.

OSV scrapping rates reach 150% increase in 2017

Offshore Support Vessels scrapping has been increased by 153%, because of the large downturn that the offshore industry has seen since 2014-2015. This made more and more companies to scrap their OSVs, rather than keep them. So far in 2018, 43 OSV vessels have been sold for scrap. In the first three months of 2017 only 17 vessels were sold.

OSV grounded in US Virgin Islands

The US Coast Guard informed that its crews responded on Tuesday to the grounding of the 223-foot Togo-flagged cargo vessel ‘Ocean Spirit I’, just off the entrance of the Charlotte Amalie Harbor East Gregory Channel, in the Virgin Islands.

ABS publishes ‘Supercapacitor Guide’ for marine industry

ABS has published a guide on the ‘Use of Supercapacitors in the Marine and Offshore Industries’ to support safe application of hybrid power in the marine and offshore industries. The guide outlines the types of supercapacitors, including electrochemical capacitors and lithium ion capacitors.

USCG: How OSV evolved throughout the years

The Offshore Supply Vessel (OSV) was created in order to support the offshore oil and gas industry on the Outer Continental Shelf of the United States and originates from the Gulf of Mexico. USCG provides three events in time, which contributed to the OSV’s evolution.

DNV GL launches Certificate of Fitness product list

DNV GL presented a Certificate of Fitness product list which includes all products not yet formally assessed by IMO but still subject to a so-called tripartite agreement, relevant for ship owners and managers of chemical tankers and OSVs. 

LR establishes new notations for OSVs and ‘W2W’ technology

Lloyd’s Register has introduced a range of class notations for offshore support vessels (OSVs) to reflect their development and changing service features, while retaining established notations. The new notations cover vessels intended to operate in the renewable sector, for example those servicing the offshore wind market.

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