Tag: OSV

The first-ever smart domestic LNG fueled offshore support vessels (OSVs) Haiyang Shiyou 547 and Haiyang Shiyou 542 were finally completed in Qidong, Jiangsu on 28 May, according to China Shipbuilding Corporation.

The Republic of the Marshall Islands Maritime Administrator released a guidance focused on the Application of MARPOL, ANNEX II to offshore support vessels.

As the IMO's 2021 to the IBC Code (MEPC.318(74) and MSC.460(101)) are entering into force on 1st January, offshore supply vessels that intend to carry NLS on international voyages after that date will be required to meet the carriage requirements listed in the OSV Chemical Code or approved equivalents, USCG advised through a new information bulletin (MSIB 24-20). 

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.

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. 

Robert Day, VesselsValue Head of Offshore, discusses and presents the first edition of Offshore Layups infographics. As presented, out of all the major offshore oil and gas regions, the U.S. Gulf of Mexico has the largest number of laid-up OSVs.

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.

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.

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 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.