Category Archives: Offshore

A final investment decision (FID) on the Hyoffwind project in Belgium, which entails linking offshore wind power production to a hydrogen production facility, is expected to be made this year, after the project consortium receives a permit for which it applied in 2021.

The permit application process started in late 2021 and the consortium consisting of Virya Energy (parent company of Parkwind) and Fluxys said it expected to receive the permit by mid-2022 and to make the final investment decision in the course of 2022.

The final investment decision is also subject to the granting of subsidies by the Flemish government under the recovery plan, the consortium noted. These subsidies amount to EUR 23 million, which the Flemish Ministry for Economy and Innovation will provide under the Flemish recovery plan via the European call for IPCEIs, whose first series of projects must now be approved by the European Commission.

This will follow a grant awarded to Hyoffwind in 2020, when the Flemish government allocated EUR 8 million in strategic ecological aid to the project.

Hyoffwind involves industrial-scale conversion of electricity produced by offshore wind to green hydrogen with injection in the natural gas transmission grid.

The project will build a facility that can convert 25 MW of electricity into green hydrogen in Zeebrugge, which will act as an energy hub and also has the potential to become a logistics hub for hydrogen-linked applications, according to the developers.

Hyoffwinds feasibility study states that Zeebrugge is the ideal location for power-to-gas because the electrical cables from offshore wind farms arrive on land there. Therefore, the installation will be located near the source of renewable electricity and will be able to facilitate the further integration of renewables in the energy mix.

The project is planned to be built in two phases. The first phase will comprise the 25 MW electrolyser, which the partners aim to scale up to 100 MW in the second phase.

Last month, the Hyoffwind consortium, which has also partnered with Parkwind and Eoly Energy, signed an agreement with John Cockerill and BESIX to design and build the projects green hydrogen production unit in Zeebrugge.

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Belgian Offshore Wind-to-Hydrogen Project to Reach Final Investment Decision This Year | Offshore Wind - Offshore WIND

The Vineyard Wind joint venture of Danish investors Copenhagen Infrastructure Partners (CIP) and Iberdrola subsidiary Avangrid Renewables has announced the project developer of their flagship US offshore wind farm will take over as CEO.

Klaus Moeller, who has served as project director of the800MW Vineyard Wind 1 Vineyard Wind 1 (800MW) Offshoreoff Martha's Vineyard, Massachusetts, USA, North America Click to see full details wind farm since 2019, will replace Lars Pedersen as Vineyard Wind CEO.

A US fishing grouprecently filed a lawsuitagainst the federal government, arguing environmental regulations were "shortcut" when it approved the Vineyard Wind 1 project.

Pedersen will remain on Vineyard Winds board and shift his focus to CIPs US-based offshore wind development. This includes the federal lease area OCS-A 522, which CIP believes can eventually support up to 2.5GW of offshore wind capacity, and could supply power to New York and Massachusetts.

CIP and Avangrid Renewables had recently divided their US offshore wind assets to focus on their own expansion plans.

Located 24km off the coast of Marthas Vineyard, their Vineyard Wind 1 project will be the first commercial-scale offshore wind farm in the US. It is expected to deliver first power to the grid in 2023.

Beyond the Vineyard Wind 1 project, the joint venture currently has no plans to develop further projects, a spokesman confirmed.

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Vineyard Wind 1 offshore wind farm boss to lead CIP-Avangrid joint venture - Windpower Monthly

The U.S. offshore wind industry has a looming problem: Turbines are growing to huge sizes, but only a few ships in the world are big enough to mount them in the sea.

That global scarcity of large turbine installation vessels could hamper the construction boom of offshore wind arrays anticipated in the United States and Europe in the coming years, said a report released yesterday by research firm Rystad Energy.

When turbines were smaller, installation could be handled by the first-generation fleet of offshore wind vessels or converted jackups from the oil and gas industry, wrote Martin Lysne, Rystad Energys rigs and vessels analyst, in the report. However, as operators continue to favor larger turbines, a new generation of purpose-built vessels is required to meet demand.

The Biden administration has committed to a massive expansion of offshore wind in the United States as part of its larger climate goals. It aims to deploy 30 gigawatts by 2030, by approving offshore wind projects in federal waters and auctioning new wind energy leases in the Atlantic and Pacific oceans, as well as the Gulf of Mexico.

That federal boost follows sustained efforts from Northeastern coastal states to boost offshore wind. Now, the first large-scale offshore wind farm has begun construction off the coast of Marthas Vineyard the Vineyard Wind 1 project, using some of the largest turbines available, 62 Haliade-X 13-megawatt turbines from GE Renewables.

Other large offshore wind farms planned in the United States are likely to use similarly sized turbines, adding to demand for the few ships worldwide that are big enough to fix those turbines in the ocean floor, according to Rystad.

There are just a few vessels in the world capable of installing turbines of 10 MW and greater. There are no vessels specifically built for offshore wind able to install 14-MW turbines and larger, the report found.

Yet the trend toward larger machines is picking up steam. Turbines with a capacity greater than 8 MW will represent more than half of new installations by the end of the decade. Thats compared with just 3 percent over the last 10 years, according to Rystad.

By 2024, the demand for big vessels could outpace supply, Rystad reported.

Operators will have to invest in new vessels or upgrade existing ones to install the super-sized turbines that are expected to become the norm by the end of the decade, or the pace of offshore wind installations could slow down, the report states.

Developers in the United States are already trying to remedy the dearth of large construction vessels.

Dominion Energy is building the first U.S. flagged vessel for the offshore wind industry, the 472-foot Charybdis, at an estimated cost of $500 million. Offshore wind company rsted and New England utility Eversource have committed to chartering the ship as they build several offshore wind arrays in the Northeast.

But ship builders and developers dont want to build an expensive vessel if it will soon be made obsolete, which means they will need to plan for even bigger turbines.

Vessels built early this decade are already becoming outdated as turbines grow, Rystad report said. The cost to manufacture an installation vessel capable of installing 14 MW+ turbines ranges from $300 million to $500 million, but owners are opting for even bigger cranes in the hope of staying competitive for longer.

Claire Richer, federal affairs director for the American Clean Power Association, said that high cost makes it difficult for developers to finance the necessary vessels despite demand. With a construction vessel only needed for a set number of months, a shipbuilder would need several offshore wind builds in sequence to get a return on its investment.

From an industrywide perspective, Im very concerned, she said of the potential construction bottleneck.

With so few vessels, industry leaders in the United States have stressed that the first offshore wind projects will have to borrow from foreign fleets.

There simply is not enough time to ramp up domestic capacity prior to an initial wave of offshore wind facilities being constructed, said Heather Zichal, CEO of the clean power group, speaking before Congress last year.

But at least one researcher is calling for a more creative solution to the ship problem.

Willett Kempton, research director for the University of Delawares Center for Research in Wind, said building unreasonably large ships isnt sustainable as turbines get bigger.

With a team funded by the Department of Energy, assembling the turbine in port mounted on caissons, then lashing the entire structure to the side of a vessel or barge and hauling it to location. The method, explored in a 2017 report, would utilize smaller, lower-cost vessels.

We have to move to such methods, Kempton said in an email. Ships are too expensive.

But theres a problem with that approach, too, he said: There arent any ports yet that are appropriate for this kind of onshore assembly.

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Shipping troubles threaten U.S. offshore wind report - E&E News

A private client lawyer sets out the questions he has about what he looks for in an offshore jurisdiction; the trends that are unfolding and the centres which are making most headway.

What sort of considerations apply when choosing an offshore location? Some might respond that tax, regulations and ease of doing business are likely to be uppermost in mind, but it can be more complex than that. How politically stable are such places? Is the government honest? And in light of the COVID crisis how rational and efficient is the system athandling viruses and the associated restrictions? Are travel connections quick and pleasant? Are there good schools and healthcare facilities and is the location a fun and interesting place in which to live?

Theres a lot to take on board. To explore how to frame these questionsis George Merrylees, partner at Wedlake Bell, the London-based law firm. The considerations are, by definition, global and we hope that the article will stimulate debate across our different editions.

The usual editorial disclaimers apply and we invite people to jump into the debate. Email tom.burroughes@wealthbriefing.com

Many international private wealth practitioners have tried, and often successfully, to undertake a comparison of offshore jurisdictions. I will leave such a task to those who have global offices with boots on the ground.

As my firm is a single office based in central London with international affiliations, I will look at the world of offshore jurisdictions through the lensof a London private client lawyer, which is, after all, all I can really do. The questions I will address in this article are threefold:

(1) What factors motivate me to choose an offshore jurisdiction; (2) what trends am I seeing; (3) which offshore jurisdictions are charging further ahead;and what factors motivate me to choose an offshore jurisdiction?

Like many of my London colleagues, I am guilty of having a short list of favourite offshore jurisdictions. This is compounded by the fact that I know what I know, and I don't know what I don't know. But beyond that, I am surely influenced by experience, personal relationships and, possibly, the unconscious bias of a London practitioner who usually favours the Channel Islands. There is, of course, no logical reason for this if my clients come from outside the UK and, in some cases, have no link to the UK at all.

In my experience, the perfect solution is often not possible but I have met too many clients who end up putting their family wealth out of reach due to the structures they have used. This might be on account of the tax, the regulations, the overheads or the lack of foresight as to jurisdictional requirements that have been ignored.

So what would I say is my approach when it comes to choosing offshore jurisdictions? I can honestly say that, through trial and error, I have learned to recommend offshore jurisdictions that offer culturally intelligent solutions.

In my opinion, and to avoid the problems I have mentioned, a culturally intelligent approach requires that the structures: should be as easy to understand and use as possible by both the family members and any interested tax inspector; should be portable in that they can follow the family through the changes in their tax status. If such changes jeopardise the structures, then the structures should be easy to dismantle/restructure; should work efficiently and effectively across borders from a tax and compliance perspective; should be cost effective; and should be tax efficient but not at any cost.

An equally important consideration is the team of advisors with whom the family have to work in relation to their structure. In my opinion this is absolutely linked to choice of jurisdiction.

I consider the fiduciary provider to be an integral part of the professional team that services the client. After all, the fiduciary might very well turn out to have the longer relationship with the client as the client moves from one jurisdiction to the next. So it is vital to me that I introduce a high calibre fiduciary team to the client and their family and that such team has the required expertise to accompany them in the long term. I take the same approach when I involve foreign lawyers on a client matter. It is for this reason that I will gladly go to a less established jurisdiction if I know that I am not compromisingthe professionalism and technical ability of the fiduciary service provider.

The types of question I will ask myself when choosing an offshore jurisdiction can be summarised as follows:

1. Which jurisdictions offer the correct structures to hold the assets owned by the client? 2. How do the jurisdictions relevant to the client and his/her family interact or simply, react to the offshore jurisdictions and to the entities that we will consider setting up to hold the assets? 3. What is the relevant expertise I am looking for in the fiduciary provider? This will usually relate to the tax situation, the complexity of the client's affairs, international compliance as well as to the assets; 4. Is there a language requirement? and 5. Will the client get on with the fiduciary provider?

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What Counts In Choosing An Offshore Jurisdiction - WealthBriefingAsia

A market study Global Offshore Buoyancy market examines the performance of the Offshore Buoyancy market 2022. It encloses an in-depth analysis of the Offshore Buoyancy market state and the competitive landscape globally. The Global Offshore Buoyancy Market can be obtained through the market details such as growth drivers, latest developments, Offshore Buoyancy market business strategies, regional study, and future market status. The report also covers information including Offshore Buoyancy industry latest opportunities and challenges along with the historical and Offshore Buoyancy market future trends. It focuses on the market dynamics that is constantly changing due to the technological advancements and socio-economic status.

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Recent market study Offshore Buoyancy Market analyses the crucial factors of the Offshore Buoyancy market based on present industry situations, market demands, business strategies adopted by Offshore Buoyancy market players and their growth scenario. This report isolates the Offshore Buoyancy market based on the key players, Type, Application and Regions. First of all, Offshore Buoyancy market report will offer deep knowledge of company profile, its basic products and specification, generated revenue, production cost, whom to contact. The report covers forecast and analysis of Offshore Buoyancy market on global and regional level.

COVID-19 Impact Analysis:

In this report, the pre- and post-COVID impact on the market growth and development is well depicted for better understanding of the Offshore Buoyancy Market based on the financial and industrial analysis. The COVID-19 pandemic has affected a number of market and Global Offshore Buoyancy Market is no exception. However, the dominating players of the Global Offshore Buoyancy Market are adamant to adopt new strategies and look for new funding resources to overcome the rising obstacles in the market growth.

Trelleborg ABUnique GroupSubsalve USABalmoral Offshore EngineeringMatrix Composites & EngineeringAdvance InsulationFendercare MarineDeepWater Buoyancy, IncBardot GroupSOCAP SRLPartnerPlast ASMooring System, IncJW Automarine

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Oil & GasDrilling & MiningOceanographyRenewable EnergyOthers

North America Market(United States, North American country and Mexico),Europe Market(Germany, Offshore Buoyancy France Market, UK, Russia and Italy),Asia-Pacific market (China, Offshore Buoyancy Japan and Korea market, Asian nation and Southeast Asia),South America (Brazil, Argentina, Republic of Colombia etc.), geographic regionAfrica (Saudi Arabian Peninsula, UAE, Egypt, Nigeria and South Africa)

The Offshore Buoyancy report provides the past, present and future Offshore Buoyancy industry Size, trends and the forecast information related to the expected Offshore Buoyancy sales revenue, growth, Offshore Buoyancy demand and supply scenario. Furthermore, the opportunities and the threats to the development of Offshore Buoyancy market forecast period from 2022 to 2029. also covered at depth in this research document.

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Further, the Offshore Buoyancy report gives information on the company profile, market share and contact details along with value chain analysis of Offshore Buoyancy industry, Offshore Buoyancy industry rules and methodologies, circumstances driving the growth of the market and compulsion blocking the growth. Offshore Buoyancy Market development scope and various business strategies are also mentioned in this report.

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Global Offshore Buoyancy Market Business Opportunities and Forecast to 2029 , Trelleborg AB, Unique Group, Subsalve USA The Grundy Register - The...

US-based energy conglomerate General Electric (GE) has selected British construction firm Kier to deliver an onshore converter station for RWEs 3bn ($4.06bn) Sofia Offshore Wind Farm in the UK.

The converter station will be installed next to the Wilton Complex, which is located near the village of Lazenby.

Kier will be responsible for civil engineering and building construction works on the valve halls, control and ancillary buildings.

Its work scope includes the installation of heating, cooling, building management systems and all associated building services at the project site, which covers a 34,000m total area.

Kier Infrastructure Group managing director Mark Pengelly said: We have an established track record of delivery of civil works for power station and energy from waste plants and Sofia is an exciting project for us to be involved in.

As we all continue to find ways to be more sustainable, we expect that energy will be a key growth area for Kier over the coming years.

This project will also bring significant economic benefits to the north-east as we will deliver it collaboratively with our trusted local supply chain partners.

The Sofia Offshore Wind Farm will also feature 100 turbines, an offshore converter station and inter-array and export cables measuring hundreds of kilometres in length, as well as onshore electrical infrastructure.

Once completed, the project is expected to generate enough green energy to power around 1.2 million average UK homes and displace more than 2.5 million tonnes of carbon emissions a year.

Kier plans to begin works at the site early this year, with the onshore converter station scheduled for completion in mid-2025.

Last June, RWE began construction works at the Sofia Offshore Wind Farm project at Dogger Bank, UK.

The facility features 100 14MW wind turbines supplied by Siemens Gamesa Renewable Energy.

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Kier to supply onshore converter for Sofia Offshore Wind Farm - Power Technology

Kayode TokedeOn the heels of growing operating expenses and net exchange difference, Caverton Offshore Support Group Plc recorded one of the worst result and accounts in its full year ended December 31, 2021.

Though the support and logistics company listed on the Nigerian Exchange Limited (NGX) recorded increase in revenue, several mitigating factors such foreign exchange loss due to local currency devaluation by the Central Bank of Nigeria (CBN) and cost of operating its 27 aircraft play a critical role in the companys worst performance in over 10 years.

Caverton reported a loss of N5.9billion in 2021 unaudited result and accounts for period ended December 31, 2021 from N1.26billion profit before tax reported in prior year result and accounts.This simply means that the management of Caverton might not be paying shareholders dividend for the first time in four years.

The management had recommended payment of dividend of 10 kobo per share in respect of the year ended 31 December 2020 (2019: 20 kobo per share). Between 2018 and 2017, it proposed a dividend of N0.25 and N0.15 kobo, respectively.

Apparently, the decline in global oil prices led to lesser contracts for Caverton, as most of its clients struggled to survive the economic hardship necessitated by COVID-19 pandemic in the first half of 2021.

It reflected in the companys H1 unaudited results as the management battled to manage its operating expenses amid minimal growth in revenue.

The company in H1 2021 reported N18.07billion revenue, 12.4per cent increase from N16.08billion reported in H1 2020, while operating expenses grew significantly by 12 per cent to N11.7billion in H1 2021 from N10.5billion reported in H1 2020.

Reduction in finance cost impacted positively on Profit before tax in H1 2021, gaining about four per cent to N924.5million in H1 2021 from N889.14million in H1 2020.

However, in the nine months of 2021, the support and logistics company was able to enhance revenue amid the relaxation of travel restrictions occasioned by the pandemic and increased economic activities that drove recovery in the aviation sector.

Operating ExpensesBut, operating expenses, among other financial parameters continued to amount to put the companys profit at risk.

Revenue reported in nine months ended September 2021 stood at N27.08billion, an increase of 15 per cent to N23.63billion reported in nine months of 2020, while operating expenses grew by 16.3 per cent to N18.27billion in nine months of 2021 from N15.7billion in nine months of 2020.Net finance charges thus gained 23 per cent to N3.3billio in nine months of 2021 from N2.67billion in nine months of 2020.

The growth in operating expenses and finance charges dragged Cavertons profit before tax downward to N1.2billion in nine months of 2021, a decline of 27.4 per cent from N1.54billion reported in nine months of 2020.

Meanwhile, the companys in the last quarter (Q4) of 2021 performance failed to reflect steady increase in global oil price as revenue dropped by nearly seven per cent to N7.98billion from N8.55billion reported in Q4 2020.Amounting operating expenses in Q4 2021 grew by 221 per cent to N9.25billion from N2.88billion reported in Q4 2020.

Cavertons whose business model is such that its logistics services are mostly needed by local and international oil and gas companies in Nigeria when its customers in the oil & gas sectors are making money.

What this means, therefore, is that as global demand for crude oil rises, Caverton had struggle to compete in the support logistics services for local and international oil & gas companies operating in the country.

Currently, Caverton contends with Bristow Helicopters and OAS Helicopters for market share. These two companies are understandably making their own expansion moves with hopes of taking more advantage of the market. More so, Caverton must also ensure to reduce its liabilities and operational costs down.

Expenses Outshines RevenueFor the unaudited December 31, 2021 unaudited results, Caverton recorded N35.06billion revenue from N32.17billion reported in 2020, an increase of about nine per cent. The growth was driven primarily by N33.96billion revenue from helicopter and airplane contracts in 2021 from N30.84billion in 2020.Helicopter Charter dropped to N956.2million in 2021 from N1.08billion in 2020 to highlight slow activities in the year under review despite ease on COVID-19 restriction movements. With slow activities, Helicopter maintenance contract dropped by 80 per cent to N10.4million in 2021 from N50.9 million in 2020.

From the profit & loss figures, the company reported 48.06 per cent increase in operating expenses to N27.5billion in 2021 from N18.59billion in 2020, driven primarily by 35.13 per cent growth in Aviation fuel, spare parts and consumables to N8.74billion in 2021 from N6.46billion in 2020.Aircraft insurance premium grew by 29 per cent to N1.69billion in 2021 from N1.32billion in 2020 as Crew salaries also grew by 17.5 per cent to N9.76billion in 2021 from N8.3 billion in 2020 despite slow activities.

Administrative expenses that comprises of employee benefit expense, management expenses, among others dropped by 13.3 per cent to N5.35billion in 2021 from N6.17billion in 2020.Caverton Offshore Support closed 2021 with net foreign exchange difference of about N3.5billion in 2021 from N2.35billion in 2020.

The breakdown revealed that Exchange gain was at N130.5million in 2021 from exchange loss of N1.35billion in 2020 and exchange loss closed 2021 at N3.6billion in 2021 from N3.7billion gain in 2020.

As regards finance cost, the company reported interest on debts and borrowing of N4.64billion in 2021 from N4.03billion in 2020 as other bank charges rose significantly by 166 per cent to N4.6billion in 2021 from N1.74billion in 2020.

Both the long and short Interest-bearing loans and borrowings grew by 0.4 per cent to N20.92billion in 2021 as against N20.85billion reported in 2020. The short Interest-bearing loans and borrowings moved from N11.11billion to N11.29billion in 2021, while long Interest-bearing loans and borrowings closed 2021 at N9.62billion from N9.7billion reported in 2020.

In all, the companys profit closed 2021 at N5.9billion loss from N1.18billion reported in 2020. The performance related in Earning Per Share for the year, moving from N0.35 to a loss of N1.77 per share.

Trade, Payables Lifts LiabilitiesIn the period under review, the company grew its total liabilities by 41per cent to N64 billion from N40.6 billion reported in 2020, driven by increase in trade & other payables.Trade & other payables gained 106.7per cent to N27.94billion in 2021 from N13.52billion in 2020 to push current liabilities up by 47.4 per cent to N43.3billion in 2021 from N29.35billion in 2020.Meanwhile, non-current liabilities gained 28.14per cent to N20.77billion in 2021 from N16.21billion in 2020.

The financial position showed a decline of about 28.5 per cent to N15.7 billion in total equity of Caverton in 2021 from N21.96billion reported in 2020. About 46 per cent decline in retained earnings to N7.79billion was responsible in decline in total equity in 2021 from N13.49billion reported in 2020.

However, total assets grew by 18.12 per cent to N79.75billion in 2021 from N67.5billion reported in 2020.

As current assets grew by 47.1 per cent to N36.93billion in 2021 from N25.11billion in 2020, non-current assets moved from N42.41billion in 2020 toN36.93billion in 2021.Cavertons capital structure ratios revealed that Net debt/Equity closed 2021 at 1.72x from 0.93x in 2020 as asset turnover dropped to 0.44x in 2021 from 0.48x in 2020.

Working capital closed 2021 at negative N6.3billion from negative N4.23billion in 2020. The negative working capital can affect the companys longer-term investment effectiveness and its financial strength in covering short-term liabilities.

Strategy to Improve PerformanceThe Chief Executive Officer, Caverton, Mr. Bode Makanjuola in a statement said the loss was caused by the significant reduction in revenue due to several mitigating factors because of the COVID-19 pandemic which resulted in drop in oil production and net foreign exchange loss due to Naira devaluation against the dollar.

As a result of this our direct costs increased significantly in 2021, he said.He explained further that, notwithstanding the loss reported in 2021, Caverton has robust reserves to accommodate this loss and a bulk of the reported loss is a one-time charge on our accounts which arose from high start-up costs of our most recent helicopter contract with Chevron.

To further boost revenues, the Group has been exploring further opportunities within and outside the oil and gas sector. In addition to growing our market share in the oil and gas logistics sector, our primary focus for the year will be on third party training and maintenance.

Our Maintenance Repair and Overhaul (MRO) facility and our Caverton Aviation Training Centre (CATC), both in Lagos, officially commenced business operation in the 2nd half of 2021. Prospects for training and maintenance is extremely positive as we are in advanced contract negotiations with a number of government and private institutions across Sub-Saharan Africa.

CATC full flight simulator gained full certification by EASA, (European Union Aviation Safety Agency), in October 2021. The EASAs mission is to promote the highest common standards of safety and environmental protection in civil aviation.

The Agency develops common safety and environmental rules at the European level. With global certification by an internationally recognized body CATC is now suitably qualified to undertake simulator training on the AW139 helicopter for Pilots from Nigeria and any part of the world and we expect this to not only boost the Groups revenue in the coming year, but also reduce capital flight from Nigeria.

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Caverton Offshore Support: Walking A TightropeTHISDAYLIVE - THISDAY Newspapers

Following the recent completion of the first offshore test, Heerema Marine Contractors has issued a video showing a novel method of assembling and installing XXL wind turbines onboard a floating, dynamically positioned (DP) vessel.

The method was tested in the Dutch North Sea onboard the largest semi-submersible crane vessel in the world, Sleipnir.

Heerema performed the demonstration project, known as Floating Offshore Installation of XXL Wind Turbines (FOX), in collaboration with DOT and the Delft University of Technology (TU Delft) to collect operational data and test installation methods and durations.

This demonstration project was supported by the Dutch Ministry of Economic Affairs and Climate Policy and Eneco. The partners worked together with a wide range of subcontractors who have supported this test, including Heerema Engineering Solutions, F&B Group, Harco Heavy Lifting, Ampelmann, Sif, and CAPE Holland.

The novel Rotor Nacelle Assembly (RNA) method, developed by Heerema for the next generation of wind turbines, will for the first time be utilised on Parkwinds Arcadis Ost 1 offshore wind farm in the German Baltic Sea.

Heerema will deploy the second-largest semi-submersible vessel in the world, Thialf, on the project.

As previously reported, Thialf will have to undergo certain modifications to the cranes in order to be able to sail under Denmarks Storebaelt Bridge and enter the Baltic Sea.

Thialf is scheduled to start installing the 27 Vestas 9.5 MW wind turbines at Arcadis Ost I using the RNA method later this year.

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Heerema Shows XXL Offshore Wind Turbine Floating Installation Method - Video | Offshore Wind - Offshore WIND

Offshore Inspection Repair & Maintenance Market 2022-2026

New study report Offshore Inspection Repair & Maintenance Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2026 has been added to Impeccable Market Research.

Market Overview:

Global Offshore Inspection Repair & Maintenance market research report provides in -depth overview of an industry, including classifications, applications and industry chain structure. The Global Offshore Inspection Repair & Maintenance market evaluation is provided for global markets, including development trends, competitive landscape evaluation, and key regions development standing. Moreover, this report also helps you to understand factors driving or inhibiting the market growth along with each sub market with respect to individual growth trend and their contribution to the market.

Offshore Inspection Repair & Maintenance marketsize is valued at7.19 Bn US$and will increase to17.33 Bn US$in 2026, with aCAGR of 11.9%during forecast period.

At the beginning of a recently published report on the global Offshore Inspection Repair & Maintenance Market, extensive analysis of the industry has been done with an insightful explanation. The overview has explained the potential of the market and the role of key players that have been portrayed in the information that revealed the applications and manufacturing technology required for the growth of the global Offshore Inspection Repair & Maintenance market.

Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the market during the forecasting period of 2021 to 2026. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the market place and value. Various distinctive features involve the markets knowledge based on the factors like the demographic changes, market dimensions, historical details, and market overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets. Moreover, these key players affect the market growth and the profit rate of the overall market. In this report, the internal dimensions and assessments of the global Offshore Inspection Repair & Maintenance Market are revealed. The study of the global Offshore Inspection Repair & Maintenance Markets description has been taking place during the 2021 period and the last year of the foreseen period that extends to 2026.

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The global Offshore Inspection Repair & Maintenance Market remains steady with the scenarios of the critical players who are responsible for contributing to the Offshore Inspection Repair & Maintenance Markets growth immensely. The report depicted the volume trends, values, and pricing strategies of the market that could predict the maximum increase and enhancement in the coming future days. Apart from these, various new trends and suggestions of the market in the forecasting period are also mentioned.

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Regional Analysis:

What does the Report Include?

The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2021 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.

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Offshore Inspection Repair & Maintenance Market Provides In-Depth Detailed Analysis of the Industry, With Current Trends, Growth For Forecast...

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Global Offshore Service and Supply Vessels Marketresearch is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis. It also provides market information in terms of development and its capacities.

Global Offshore Service and Supply Vessels Market research report 2022-2028 is a factual overview and in-depth study on the current and future market of the Mobility Healthcare Solutions industry. The Offshore Service and Supply Vessels Market report provides supreme data, such as development strategy, competitive landscape, environment, opportunities, risk, challenges, and barriers, value chain optimization, contact and income information, technological advancement, product offerings of key players, and the dynamic structure of the market. The Offshore Service and Supply Vessels Market report provides growth rate, recent trends and absolute study of prime players at intervals the market by the weightlessness of their product description, business outline, and business tactic.

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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2028. by Application segment also provides consumption during the forecast period of 2016 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type

Anchor Handling Tug Supply

Platform Supply Vessel

Multipurpose Support Vessel

Standby and Rescue Vessel

Others

Segment by Application

Shallow Water Field

Deep Water Field

By Company

Edison Chouest

Tidewater

Bourbon Offshore

DOF

Swires

Maersk Supply Service

Farstad Shipping

Hornbeck

Cosl

Island Offshore Management

Gulf Mark

Havila Shipping

Production by Region

North America

Europe

China

Japan

Consumption by Region

North America

United States

Canada

Europe

Germany

France

U.K.

Italy

Russia

Asia-Pacific

China

Japan

South Korea

India

Australia

China Taiwan

Indonesia

Thailand

Malaysia

Latin America

Mexico

Brazil

Argentina

Middle East & Africa

Turkey

Saudi Arabia

UAE

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COVID-19 Impact

Report covers Impact of Coronavirus COVID-19: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect theOffshore Service and Supply Vessels Market in 2022.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

Highlights about Offshore Service and Supply Vessels Market report coverage:

A complete background analysis, which includes an assessment of the Global Offshore Service and Supply Vessels Market. Important changes inOffshore Service and Supply Vessels Marketmarket dynamics Offshore Service and Supply Vessels Market segmentation up to the second & third level regional bifurcation Historical, current, and projected size of theOffshore Service and Supply Vessels Marketmarket with respect to both value (Revenue) and volume (Production & Consumption) Reporting and evaluation of recent Offshore Service and Supply Vessels Market developmentsOffshore Service and Supply Vessels MarketMarket shares and strategies of key players Emerging niche Offshore Service and Supply Vessels Market segments and regional markets An objective assessment of the trajectory of the Offshore Service and Supply Vessels Market Recommendations to companies for strengthening their foothold in theOffshore Service and Supply Vessels Marketmarket

Additionally the export and import policies that can make an immediate impact on the Global Offshore Service and Supply Vessels Market. This study contains a EXIM* related chapter on the Global Offshore Service and Supply Vessels Market and all its associated companies with their profiles, which gives valuable data pertaining to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies.

Complete report onOffshore Service and Supply Vessels Market report spread across 200+ pages, list of tables & figures, profiling 10+ companies.Select licenseversion and Buy this updated Research Report Directly @ https://www.mraccuracyreports.com/checkout/455866

Key questions answered in the report:

What is the growth potential of the Offshore Service and Supply Vessels Market? Which product segment will take the lions share? Which regional market will emerge as a pioneer in the years to come? Which application segment will experience strong growth? What growth opportunities might arise in the Mobility Healthcare Solutions industry in the years to come? What are the most significant challenges that the Offshore Service and Supply Vessels Market could face in the future? Who are the leading companies on the Offshore Service and Supply Vessels Market? What are the main trends that are positively impacting the growth of the market? What growth strategies are the players considering to stay in the Offshore Service and Supply Vessels Market?

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Offshore Service and Supply Vessels Market Size 2021 With Top Competitors Strategy, Industry Analysis by Regions, Share, Sales Revenue, Regional...