Stolt-Nielsen Collects USD 175 Mn from Bond Issue

first_imgOslo-listed shipowner Stolt-Nielsen has managed to collect up to USD 175 million from its latest senior unsecured bonds placement.Net proceeds from the bond issue are set to be used for the refinancing of outstanding bonds and general corporate purposes.The company completed the placement of senior unsecured bonds in the Nordic bond market in a new 5-year bond issue carrying a fixed coupon of 6.375%. Stolt-Nielesen informed that the placement was oversubscribed.The shipowner added that the settlement date for the bonds will be September 21, 2017 and the maturity date will be September 21, 2022.Additionally, an application will be made for listing the bonds on the Oslo Stock Exchange as soon as possible.Danske Bank, DNB Markets, Nordea and Swedbank acted as joint lead managers for the bond issue.last_img read more

Shell completes $1B acquisition of Turritella FPSO

first_imgShell has taken over the ownership of the FPSO Turritella, moored at the Stones field in the U.S. Gulf of Mexico.The takeover, ending an operational transition period, follows a previously announced agreement with the SBM Offshore-led consortium owning the FPSO.“Both companies have worked successfully together to ensure a safe and controlled handover of operations,” SBM Offshore, the world’s largest FPSO supplier said in Tuesday.The FPSO Turritella is being used to produce oil from Shell’s Stones field in the U.S. Gulf of Mexico, considered the world’s deepest FPSO development.In previous statements SBM Offshore said the acquisition would allow Shell to assume operatorship of the Stones development in its entirety, creating additional efficiencies through integration of sub-sea to surface operations and allowing leverage of its optimized Gulf of Mexico organization and infrastructure.Shell paid around $1 billion for the acquisition. The FPSO Turritella has been on hire since September 2, 2016 and forms an early phase in Shell’s Stones development.The Stones development is located in 2,896 meters (9,500 feet) of water approximately 320 kilometers (200 miles) offshore Louisiana in the Walker Ridge area.FPSO Turritella is the deepest FPSO development in the world and has a turret with a disconnectable buoy allowing it to weathervane in normal conditions and disconnect from the FPSO upon the approach of a hurricane.Offshore Energy Today Stafflast_img read more

Marella Explorer Launched in Majorca

first_imgImage Courtesy: TUIUK-based Marella Cruises has launched its newest cruise ship, Marella Explorer, following the vessel’s refurbishment process. The launching ceremony was held in Palma, Majorca, on May 17.Speaking on the occasion, Chris Hackney, Managing Director of Marella Cruises, said: “The launch of Marella Explorer marks an exciting time for us as she is the first ship to officially launch under the Marella Cruises name.”The 76,998-ton Marella Explorer, previously known as Mein Schiff 1, underwent a four-week refurbishment in Cadiz, Spain.At 265.5 meters long and 32.2 meters wide, Marella Explorer is the biggest ship welcomed so far into the Marella Cruises fleet. The 1,924 capacity ship (double occupancy) boasts 962 cabins and spans 13 decks.The cruise vessel set sail on its maiden customer voyage on May 19 to visit a variety of ports in the Mediterranean such as Villefranche, Barcelona and Naples.Marella Cruises, part of TUI UK and Ireland and TUI Group/World of TUI, is the third largest cruise line in the UK. Following the recent addition, its fleet now comprises six ships — Marella Explorer, Marella Discovery, Marella Discovery 2, Marella Dream, Marella Celebration, and Marella Spirit.last_img read more

Schulte Group Launches New Maritime Fund Manager

first_imgGerman shipping company Schulte Group has launched a new maritime fund manager, Hanseatic Capital Management (HCM).The fund manager has an investment focus on maritime real assets, specifically merchant vessels.HCM will concentrate on a commercially balanced employment strategy, which will include both shorter and period charters, depending on the vessel segments.The first fund to be launched, Hanseatic Fund VCIC Plc, aims to initially raise USD 120 million.Applying a strong focus on investor protection at all times, its investment goal is on Handysize and Supramax bulk carriers and feeder-sized container vessels aged between four and 15 years. Other types of tonnage or different sizes will be considered as well.Hanseatic Fund VCIC Plc will be regulated as an Alternative Investment Fund (AIF) by the Cyprus Securities and Exchange Commission (CySEC) in line with the relevant EU directives.The units of the Hanseatic Fund VCIC Plc also qualify as an eligible investment for the ‘Scheme for Naturalization of Investors in Cyprus by exception’, issued by the Republic of Cyprus. It therefore offers an investment opportunity in an asset class with great scope for diversification, which previously was not available under this scheme.last_img read more

Aker BP takes Prosafe flotel for Ula platform support

first_imgSafe Scandinavia – Image source: ProsafeOffshore accommodation specialist Prosafe has won a contract for one of its flotels in Norway.The Safe Scandinavia accommodation unit will be working for Aker BP in the Norwegian part of the North Sea. The flotel will be providing accommodation support at the Ula offshore platform.The firm duration of the contract starting in mid-August 2018 is seven months with eight one-month options.The total value of the contract, excluding the option periods, is around $25.5 million. The option periods, if exercised, have a total value of approximately $36.7 million.The contract will ensure employment of the Safe Scandinavia soon after the expiry of her previous contract that concluded end-June 2018.Jesper Kragh Andresen, CEO of Prosafe says: “Prosafe is very pleased with this contract, as it provides employment for the Safe Scandinavia for up to 15 months. We are also proud to again be chosen by Aker BP, this time to deliver first class safe and efficient accommodation services at the Ula platform.”According to info on Prosafe’s website, the Safe Scandinavia has been operating as a Tender Support Vessel since March 2016. The company has said that with minor modifications, the vessel will also be capable of conducting Plug & Abandon, Well Intervention and Decommissioning projects.last_img read more

GMS clinches 15 years worth of charters in MENA

first_imgGulf Marine Services has been awarded 15 years worth of contracts for three self-propelled self-elevating support vessels in the Middle East and North Africa (MENA) region with an undisclosed national oil company.GMS on Tuesday said the new charters were for for one Small Class and two Mid-Size Class SESVs.The charters, subject to the completion of legal documentation and finalization of the vessel delivery schedule, are expected to start in Q4 2018/Q1 2019.The charter period for each of the three vessels is five years (including options) during which time they will be supporting well intervention and maintenance activities in the region.Tender activity picks upDuncan Anderson, Chief Executive Officer of GMS, said: “We are delighted to have been awarded new charters totaling 15 years (including options) by a national oil company in the MENA region.“These contracts more than comfortably double the Group’s secured backlog and are a testament to our strong track record and excellent client relationships. We continue to be encouraged by levels of enquiries and tender activity as our clients focus on increasing their operations in a recovering market.”last_img read more

Consent for Equinor to use West Hercules rig in North Sea

first_imgNorwegian oil major Equinor has received consent from the offshore safety body, the Petroleum Safety Authority (PSA), for exploration drilling in the North Sea using the West Hercules drilling rig.West Hercules drilling rig. Source: LundinThe well 32/4-3 S belongs to production license 921. The well has been given the prospect name Gladsheim.Equinor is the operator of the license and holds a 50 percent ownership interest. The remaining partners are Petoro with 20 percent, and DNO and Lundin with 15 percent each.The location where the well will be drilled is in the North Sea, around 1,758 meters from the Troll 62A Cable in a water depth of 292 meters.The well will be drilled using the West Hercules drilling rig, which is owned and operated by Seadrill.West Hercules is a 6th-generation semi-submersible drilling rig built in 2008 at Daewoo Shipyard, South Korea. The facility received an Acknowledgement of Compliance (AoC) from the PSA in 2012.Equinor was also recently given consent by the PSA to use the West Hercules for drilling of a well for CO₂ verification in the North Sea.Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today please contact us via our advertising form where you can also see our media kit.last_img read more

‘Kick-a**’ women in media blamed for violent offending

first_imgNZ Herald 30 March 2012Portrayals of “kick-ass” women in the media are being blamed for an increase the number of women involved in violent offending. Two New Zealand researchers believe the glorification of females in roles showing women exhibiting physically aggressive and violent behaviour are having a negative impact on young women here. The most recent figures from Statistics New Zealand recorded 162 more females were apprehended for violent crimes in 2010 than in 2009. This included apprehensions for assaults, intimidation and threats. University of Canterbury Criminologist Professor Greg Newbold said more women were going out and committing crimes that were traditionally the preserve of men.…Female youth violence researcher Donna Swift said there were more cases of girls fighting and put footage of themselves on the internet and Facebook. Dr Swift is head researcher of Girls Project – a two-year study of 3500 Year 10 students that is investigating the reasons behind violent behaviour amongst girls. She said that in her experience, many young women turned to violence because it was normalised in their own homes and communities. “Girl fighting often is highly sexualised by the media and males themselves,” she said. ‘One of the most startling we found amongst New Zealand female youths was the change in behaviour exhibited by girls when they reached the ages of 15 and 16 years.” “They either move away from this type of [violent] behaviour or they become more sophisticated in it,” added Dr Swift. females getting youngerBay of Plenty Times 31 March 2012Female fighting has escalated in the Bay of Plenty and experts say culprits are getting younger and more violent. Their comments come after two incidents involving women attacking others made headlines this month. Two women, 21 and 25, were arrested after a group of wedding guests dropped off at Bayfair Shopping Centre last Saturday night were viciously bashed. Earlier this month the mother and daughter involved in an attack on Countdown supermarket staff in Rotorua, that was filmed, appeared in court on assault charges. In December, a mother and daughter were sent to prison after using cellphones to premeditate an attack on an unwitting woman they lured into a Welcome Bay bus stop. Les Simmonds, Relationship Services clinical leader for Bay of Plenty and Gisborne, said there was little doubt young women were more violent these days. “Adolescent girls are becoming more violent but, the truth of it is that it is a minority group and in that small minority, it’s more severe,” Mr Simmonds said. “If you go back years and years ago women were socialised to be a certain way in society and now women are socialised to be more equal and fill a lot of roles previously filled by males. read more

Schoolgirls the biggest binge drinkers

first_imgAuckland Now 13 Nov 2012Senior secondary school girls are now bigger binge drinkers than their male counterparts, according to a health report into the country’s drinking habits. With the bigger boozing culture, females are also doing themselves more harm and risking their health. The hard-hitting report into the female drinking culture was released at an alcohol harm conference in Auckland today. The percentage of females aged 16 and 17 binge-drinking on a typical night out tripled from nine to 28 per cent between 1995 and 2011. For males of the same age, the percentage increased from 19 to 25 per cent. Binge-drinking has dropped among 18 and 19-year-old males from 30 to 29 per cent. However, for the same age group of females, the proportion of binge-drinkers increased from four to 16 per cent. Alcohol Healthwatch director Rebecca Williams said teenage girls who were binge-drinking risked establishing bad drinking habits for life. read more

Bookworld forced to withdraw incest titles

first_imgMelinda Tankard Reist blog“We’ve just campaigned against Condom Kingdom selling products that eroticise sex with underage girls and therefore, paedophilia. But Condom Kingdom isn’t the only retailer providing masturbatory material for sexual predators. Bookworld – formerly known as Borders – has been selling multiple titles eroticising incest. Recently one of our supporters alerted us to a book they had come across on Bookworld’s website, entitled ‘Tina sits on Daddy’s face’.Bookworld is the rebranded online version of what used to be Borders bookstores. After searching the website more thoroughly, we found hundreds of titles under the heading ‘incest’, including:Double teamed by Daddy and UncleDaddy takes my virginityFirst time with my twin brothersF*cking my black DaddyDaddy’s naughty girls get what they deserveBreaking in the babysitterThe Classifications Branch responded yesterday, advising that Bookworld would remove the titlesWe are relieved to hear that Bookworld has removed these titles. However we do have to wonder how it came to be sold in the first place. Bookworld ‘appreciated being advised’ – they didn’t know they were selling pseudo incest child pornography? read more