Category Archives: Offshore

Early Saturday, anglers wanting to give the offshore waters a try were discouraged by a gusty southeast wind. The same wind took its toll on surf fishing, as the beachfront waters were choppy and sandy, not good for fishing.

Henry Abel was one of the anglers hoping to dodge the wind by hitting the water early. Unfortunately, the gusts were hitting 20 knots and too much for his 19-foot boat.

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Winds disrupt offshore, surf and night fishing | Reel Report - Galveston County Daily News

A moderate earthquake hit a seismically active region offshore from the northern end of Vancouver Island tonight.

The temblor hit at 7:14 p.m. today (May 22).

Earthquakes Canada reported it as a 4.9-magnitude quake at a depth of eight kilometres (five miles) while the U.S. Geological Survey measured it as 5.2-magnitude seismic event at a depth of 10 kilometres (six miles).

The epicentre was located 151 kilometres (94 miles) west of Port Hardy, 296 kilometres (183 miles) northwest of Tofino, 308 kilometres (191 miles) west of Campbell River, and 460 kilometres (285 miles) northwest of Vancouver.

According to Earthquakes Canada, there werent any reports of damage and none are expected. A tsunami warning also wasnt issued.

A 4.2-magnitude earthquake had taken place in the same area on May 2 whilea 4.5-magnitude quake on May 9 ocurredoff the west coast of Vancouver Island.

Meanwhile in other earthquake news from North Americas West Coast, a 6.1-magnitude offshore quake shook the Gulf of California off Mexico today at 1:46 a.m. (B.C. time).

Yesterday, Nevada declared a state of emergency after over 500 quakes rattled the western portion of the state in the wake of a 6.5-magnitude quake that struck on May 15, which damaged three highways, including a major route between Las Vegas and Reno.

On May 20, a series of four earthquakes, ranging from 3.0- to 4.6-magnitude, occurrednear the Gulf of Alaska.

Scientists are warning that a melting glacier could trigger a landslide in Prince William Sound in Alaska, which could in turn trigger a major tsunami that they believe is likely to occur this year but could happen anytime within the next 20 years.

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Offshore earthquake rumbles west of northern Vancouver Island - Straight.com

A recent market study on the global Offshore Sailing Salopette market reveals that the global Offshore Sailing Salopette market is expected to reach a value of ~US$ XX by the end of 2029 growing at a CAGR of ~XX% during the forecast period (2019-2029).

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This section of the report throws light on the recent mergers, collaborations, partnerships, and research and development activities within the Offshore Sailing Salopette market on a global scale. Further, a detailed assessment of the pricing, marketing, and product development strategies adopted by leading market players is included in the Offshore Sailing Salopette market report.

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Segment by ApplicationYachtFreighterPassenger Ship

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How Coronavirus Pandemic Will Impact Offshore Sailing Salopette Value Projected to Expand by 2019-2029 - Jewish Life News

The Irish government has designated seven offshore wind projects as relevant, meaning they will be fast-tracked through the new marine planning regime.

The selected projects include the Oriel, innogys Bray and Kish Banks, Codling I and II, Skerd Rocks and North Irish Sea Array (NISA) wind farms.

The announcement means the projects are allowed to work and update a number of aspects so they can apply under the new marine planning regime which will be introduced by the Marine Planning and Development Management Bill, 2020.

Minister for Housing and Urban Development Damien English and Minister for Communications, Climate Action and Environment Richard Bruton revealed the projects in a joint release.

I am pleased to announce a way forward for these offshore renewable energy projects which will now be determined under the planning regime to be introduced in the Marine Planning and Development Management Bill, 2020, said Minister English.

Under this new marine planning regime, these projects will apply for final development consent to An Board Pleanla which will provide further opportunities for public consultation on the individual projects.

To remind, the Governments Climate Action Plan commits to having at least 3.5 GW of offshore wind in Ireland in the next ten years, which will help renewables account for 70% of electricity generation by 2030.

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Ireland Speeds Up Seven Offshore Wind Projects - Offshore WIND

HOUSTON, May 18, 2020 /PRNewswire/ --McDermott International, Inc. today announced it has been awarded a sizeable* contract from a Middle East customer to carry out front-end engineering and design (FEED) work for offshore riser platform topsides.

The scope includes the design of two offshore riser platforms, as well as associated brownfield integration modifications to existing facilities, which include the decommissioning of existing assets. The FEED contract will be fully executed from McDermott's Middle East offices.

Work on the project will begin immediately, and the contract award will be reflected in McDermott's second quarter 2020 backlog.

* - McDermott defines a sizeable contract as between USD $1 million and USD $50 million.

About McDermottMcDermott is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs today. Our proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. It is called the "One McDermott Way." Operating in over 54 countries, McDermott's locally focused and globally integrated resources include more than 42,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit http://www.mcdermott.com.

Forward-Looking StatementsIn accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, McDermott cautions that statements in this press release which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties that may impact McDermott's actual results of operations. These forward-looking statements include, among other things, statements about backlog, to the extent that backlog may be viewed as an indicator of future revenues or profitability, and about the expected scope, execution and timing of the project discussed in this press release. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit markets, our inability to successfully execute on contracts in backlog, changes in project design or schedules, the availability of qualified personnel, changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties, changes in industry norms and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. For a more complete discussion of these and other risk factors, please see McDermott's annual and quarterly filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2019 and subsequent quarterly reports on Form 10-Q. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.

Contacts:

Investor Relations

Kevin Hargrove Vice President and Treasurer +1 281 870 5569 [emailprotected]

Global Media Relations

Gentry BrannSenior Vice President, Communications, Marketing and Administration +1 281-870-5269 [emailprotected]

Local Area Media Relations

Barbara Knight Senior Director, Area Communications and MarketingMiddle East and North Africa (MENA)+971 (0)4 804 3990[emailprotected]

SOURCE McDermott International, Inc.

http://www.mcdermott.com

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McDermott Awarded Sizeable Offshore Engineering Contract in the Middle East - PRNewswire

Jan De Nuls jack-up vessel Vole au vent has departed from the Port of Halifax, Canada, with the first batch of turbine components for the Coastal Virginia Offshore Wind (CVOW) demonstration project.

Photos available on social media show the vessel carrying the monopile foundation components destined for the 12 MW project.

Vole au vent started its journey from Halifax on 20 May at around 18:20 local time and is expected to arrive at CVOW on 24 May in the afternoon.

The jack-up will reportedly return to Halifax two more times, to load the turbine towersin the second trip and then to load the nacelles and the blades in the third return.

The turbine components and monopile foundations arrivedin Halifax in late April.

CVOW, developed by rsted and Dominion Energy, will comprise two Siemens Gamesa 6 MW turbines installed some 27 miles off the coast of Virginia Beach.

The two turbines are expected to provide the operational, weather, and environmental experience needed for the2.6 GW developmentin the adjacent 112,800 ha lease site, expected to be operational by 2026.

Subsea 7 recently completed a cable pull-in at Camp Pendelton for the demo project.

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Vole au vent Sets Off to Begin CVOW Construction - Offshore WIND

What happened

Oil prices are surging today along with a very optimistic stock market. At this writing, both Brent and West Texas crude futures are up more than 7%, while theSPDR S&P 500 ETF Trust(NYSEMKT:SPY) is up 3.3%. Today's surge for the stock market as a whole is a product of three things:

Investors are jumping into offshore oil stocks with both feet today. Here are six offshore oil stocks that are up sharply:

As of 2:40 p.m. EDT on May 18. Data source: YCharts.

The offshore oil sector has been one of the hardest-hit during the coronavirus oil crash. Even after today's gains, all six stocks above are still down substantially since the beginning of 2020, even with many other sectors recovering a lot of their losses, and the S&P 500(represented by the SPDR ETF) only down about 8% since the beginning of the year at present.

BORR data by YCharts

Today, investors are looking to capitalize on just how beaten down the subsector is, on hopes that we are seeing the beginning of a sustained recovery in the oil industry.

Indications that Chinese demand for oil is recovering is a positive for the industry for certain. Oil demand has probably bottomed out in most places; the U.S. economy is starting to open back up in many places, people will begin traveling more, and more goods will surely be shipped in the weeks and months to come than during the past couple of months.

Image source: Getty Images.

However, investors should beverycautious before rushing back into the oil patch too quickly. Global crude oil inventories are still at or near record levels after at least two months of global oil production that far exceeded demand. And even after recent increases, crude oil prices are still unprofitable for most of the world's producers as Saudi Arabia, Russia, and others take steps to make sure they emerge from the 2020 oil crash with more market share than they had to start.

And it's likely that the offshore oil sector will be the biggest loser as a result. Offshore oil is the most expensive to develop and takes the longest to bring to market. Companies will get some work to expand and improve currently producing offshore plays, but it's very unlikely we will see producers pony up for multi-year deals for exploratory drilling or new resource development that many of these companies need to see just to survive the downturn.

Offshore oil stocks have already destroyed massive sums of investor capital over the past two market cycles. It's hard to see many surviving the current downturn in their present form. Keep that in consideration before risking any money in the space.

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3 Reasons These 6 Offshore Oil Stocks Are Up Big Today - The Motley Fool

While a series of offshore earthquakes occurredin proximity to the Gulf of Alaska this morning, scientists have warned that a melting glacier in the region could trigger a major tsunami.

The first quake hit south of the Alaska Peninsula at 9:13 a.m. local time (10:13 a.m. B.C. time) today (May 20).

It struck at a depth of 15 kilometres (nine miles) with an epicentre located 186 kilometres (115 miles) southeast of Perryville, Alaska, and 825 kilometres (511 miles) southwest of Anchorage, Alaska. The U.S. Geological Survey originally reported it as a 4.8-magnitude quake before reassessing it as a 4.6-magnitude seismic event.

Then a second quake struck at 9:18 a.m. (10:18 a.m. B.C. time) today (May 20), with an epicentre at a depth of 10 kilometres (six miles) located 191 kilometres (119 miles) southeast of Perryville and 828 kilometres (513 miles) southwest of Anchorage. The U.S. Geological Survey initially measured it as a 4.2-magnitude quake before downgrading it to 4.1-magnitude.

A third quake, measuring 3.2-magnitude occurred in the same area at 11:38 a.m. local time (12:38 p.m. B.C. time). The epicentre was located at 193 kilometres (120 miles) southeast of Perryville and 827 kilometres (514 miles) southwest of Anchorage.

A fourth quake, measuring 3.0-magnitude, followed at 12:54 p.m. local time (1:54 p.m. B.C. time), with an epicentre 167 kilometres (104 miles) southeast of Perryville and 813 kilometres (505 miles) southwest of Anchorage.

While none of these seismic events resulted in any tsunami warnings, scientists are warning that a potential landslide in Prince William Sound on Alaska's southern coast could trigger a large tsunami.

Several scientistswith expertise in climate change, landslides, and tsunamissigned an open letter, dated May 14, warning the melting Barry Glacier in Barry Arm, located about 97 kilometres (60 miles) east of Anchorage, could cause an unstable slope to fall into Harriman Ford. Up to 500 individuals, including fishermen and boaters, are in the area during the summer.

The falling rock, which could be up to millions of tons, into the water could trigger one of the largest tsunamis to hit the northern region.

Scientists believe the landslide will likely happen within the next year, but could occur any time within the next 20 years.

Heavy rainfall, rapid snowmelt, or thawing permafrost could be make the landslide a fast-moving one.

The 7.7-magnitude 1958 Lituya Bay earthquake in the Alaska Pandhandle triggered a rockslide that caused a megatsunami, which reached up to approximately 525 metres (1,720 feet), that is considered the largest and most significant tsunami in modern times.

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Four offshore earthquakes hit near Alaska Peninsula, while melting glacier could trigger major tsunami this year - Straight.com

International and local human rights NGOs are calling on the Maltese Government to cease the current practices they are using in handling asylum seekers seeking refuge.

UNHCR, the UN Refugee Agency, and the International Organization for Migration (IOM)called on Malta and other European states to speed efforts to bring the 160 rescued refugees and migrants, who remain at sea on board two Captain Morgan vessels, on to dry land and to safety, citing deep concern, and reminding the EU states of their international obligations.

On Wednesday, the Euro-Mediterranean Human Rights Monitor asked the government to end the use of private vessels to push asylum seekers to Libya and stop hindering them from seeking refuge in Europe.

The Maltese government should immediately cease all covert and indirect methods of deterring migrants and refugees from seeking a safe refuge in the EU, the organisation said, echoing concerns by Maltese NGOs.

The statement followed media reports about being intercepted at sea by private ships contracted by Maltas government to push migrants back to Libya. An operation involving a fishing boat in April left 12 dead, while the 51 surviving passengers on board the vessel were returned to war-torn Libya.

Former Maltese official, Neville Gaf, revealed he was hired to coordinate the use of private ships and fishing trawlers to intercept asylum seekers in the Mediterranean and send them back to Libya.

This secret arrangement between Maltas government and private ship owners allows for the exercise of serious violations against asylum seekers stranded at sea without directing blame towards Malta or the EU, the NGO said.

Capturing migrants at sea and returning them to Libya cannot be categorised as rescue, but rather as punishment.

Following the revelations of the returns to Libya by fishing vessels, the Maltese government took to housing groups of asylum seekers who have been rescued in Maltas search and rescue area onboard Captain Morgan vessels outside Maltese territorial waters.

The vessels usually serve to take tourists on tours around the islands. Questions on whether the facilities on board the boat are adequate to satisfy sanitary and health and safety standards remain unanswered.

The information on the details surrounding the initiative is sporadic, adding more doubt than reassurance. The government is vague on who is paying for the crew on the Captain Morgan boats currently housing migrants and is still refusing to give further details as to how many of the crew members working on board these vessels are being paid.

Abela was evasive in his reply to a parliamentary question by Nationalist MP Mario Galea who asked whether the crew on Captain Morgan was being paid by the government or not and for how much.

In his dry reply, Abela referred to another PQ presented by Jason Azzopardi to Home Affairs Minister Byron Camilleri in which Camilleri simply states that the crew falls under the responsibility of the company which owns the vessel, in this case Captain Morgan. Minister Camilleri also refused to give the crew list for this operation.

Transport Minister Ian Borg had told parliament that there were four crew members on the Europa II.

In previous parliamentary questions, the Prime Minister said the government was forking out 3,000 a day for every vessel it rented to keep migrants off Maltese shores. Reports suggested that the government opted for the cheapest option; but there were no official documents to back this statement. The government did not provide a breakdown of the costs.

Meanwhile, Abela has said that he wanted the European Union to pay for this initiative the prime minister implemented on his own terms and in breach of international obligations.

While the government continues to use the pandemic to justify this breach, the prime minister has relaxed COVID-19 measures throughout the country. Abela told people to go out and enjoy summer and ignore the scaremongering.

20 Local NGOs demand release and assistance

Alerts from NGO Alarm Phone on Tuesday said the people on board the Captain Morgan offshore prisons have gone on hunger strike.

Twenty Maltese human rights and civic groups said Malta was denying them basic human rights and dignity.

Malta is responsible for their ongoing detention out at sea and for the conditions they are forced to endure, the NGOs said in a statement on Wednesday.

The NGOs, including Aditus, Moviment Graffiti, MGRM, JRS and the Daphne Caruana Galizia Foundation called on the government to immediately provide the asylum seekers with medical and psychological care and let them in. They also strongly urged EU institutions to assist Malta in finding a solution.

A socially-distanced protest was held in front of the Prime Ministers Office yesterday, calling for the dignity of the people on the Captain Morgan vessels to be respected.

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No clear answers on 'offshore prisons' amid concerns - The Shift News

ezypix | iStock | Getty Images

Equinor and SSE have unveiled plans to build a multi-million pound operations and maintenance base for a project that is being described as "the world's largest offshore wind farm."

The site for the base is located at the Port of Tyne, in the northeast England. It will serve the Dogger Bank wind farm, which will be able to provide electricity to more than 4.5 million homes in the U.K. once fully up and running.

The wind farm is a 50-50 joint venture between Norwegian energy major Equinor and SSE, which is headquartered in Scotland. It will be made up of three 1.2 gigawatt (GW) phases Dogger Bank A, Dogger Bank B and Dogger Bank C in the North Sea, giving it a total capacity of 3.6 GW.

SSE Renewables is leading on the construction of the wind farm, which began in January, with Dogger Bank A due to be operational by 2023. The operations and maintenance base will be built by Equinor.

"Renewable energy is one of the U.K.'s great success stories, providing over a third of our electricity and thousands of jobs," Alok Sharma, the U.K's secretary of state for business, said in a statement issued Wednesday.

"Projects like Dogger Bank will be a key part of ensuring a green and resilient economic recovery as well as reaching our target of net zero emissions by 2050," he added.

According to Equinor, it's estimated that the Dogger Bank project will trigger a total capital investment of approximately 9 billion ($11.08 billion) between 2020 and 2026. Final investment decisions on Dogger Bank A and B are set for late 2020, with a final investment decision for Dogger Bank C slated for 2021.

Wednesday also saw Scottish Power, which is part of the Iberdrola Group, announce that it had signed two agreements to develop wind farms in Scotland. The deals could lead to more than 150 million of investment.

The U.K. is already home to some large-scale offshore wind projects. These include the 659 megawatt Walney Extension facility, in the Irish Sea, which was officially opened in 2018.

The scale of that project is considerable: It is capable of powering more than 590,000 homes, has 87 turbines and covers an area of around 20,000 soccer pitches, according to Danish energy company Orsted.

European countries installed a record amount of offshore wind capacity in 2019, according to figures from industry body WindEurope.

The amount just over 3.6 GW marked a leap higher than 2018, when more than 2.6 GW was installed. Overall offshore capacity for European nations now stands at more than 22 GW.

WindEurope said that the U.K. was responsible for almost half of the new capacity in 2019, followed by Germany, Denmark and Belgium.

Link:

Location selected for operations base which will serve 'world's largest offshore wind farm' - CNBC