• 2017 August 8 16:23

    Topaz Energy and Marine awarded $100 million Dragon Oil contract

    Topaz Energy and Marine (“Topaz”), a leading offshore support vessel (“OSV”) company, today announced a new $100 million contract with Dragon Oil, the upstream oil and gas subsidiary of Emirates National Oil Company (ENOC) whose principal asset is the Cheleken Contract Area, in the eastern section of the Caspian Sea, offshore Turkmenistan, the company said in its press release.

    Under the terms of the contract, Topaz will supply Dragon Oil Turkmenistan with six vessels, comprising five anchor-handlers and one Emergency Recovery and Response Vessel. The contract has already commenced with vessel mobilization and operation ramp-up under way. The contract is scheduled for a five year term with a two year option and brings Topaz’s market leading revenue backlog above $1.5 billion.

    The contract award demonstrates Topaz’s ability to secure substantial, long-term contracts in a weak market by offering clients a young fleet equipped with the latest technology, aligning with its clients’ needs to deliver cost, efficiency and safety benefits.

    Topaz has been active in Turkmenistan since 2010 and is committed to the country and the wider Caspian region. Out of a global fleet of 97 vessels, 62 of Topaz’s OSVs are deployed in the Caspian region, servicing the exploration, development and production needs of major companies such as BP, Chevron, ExxonMobil and Saipem in Azerbaijan, Russia, Kazakhstan and Turkmenistan.

    About Topaz Energy and Marine
    Topaz Energy and Marine is a leading international offshore support vessel company providing logistics support and marine solutions to the global energy industry with primary focus on the Caspian Sea, the Middle East, West Africa and Subsea operations in the North Sea and the Pacific. Headquartered in Dubai, Topaz Energy and Marine operates an existing fleet of 97 offshore support vessels with an average age of approximately 9 years. Topaz Energy and Marine is a subsidiary of Renaissance, a publicly traded company listed on the Muscat Securities Market in Oman. In addition, Standard Chartered Private Equity holds a minority position in the company.

2018 March 22

18:18 Global fuel market to remain relatively stable next week, expert says
18:03 Port of Klaipeda (Lithuania) handled 7.25 million tonnes of cargo in 2M'18, up 6% Y-o-Y
17:45 Transas to return all funds received under state support programme in 2016-18
17:12 Germany based firm offers AIS vessel management tracking systems preventing IUU fishing
16:51 Investments of Tuapse Sea Commercial Port in production development totaled RUB 343 million in 2017
16:30 Rolls-Royce completes the £1.3 million MAXCMAS research project
15:59 Nitrogen deposition in the oceans needs further study
15:30 Acta Marine newbuild successfully completed sea trials
14:30 APL starts new India Pakistan Express 2 Service
14:04 RF Transport Ministry defines procedure for approval of widespread minerals production at Russia’s IWWs
13:33 Open simulation platform launches with new partners
13:12 Volga Shipping Company named “Industry Leader” in “Cargo Shipping Company” nomination
12:58 Wärtsilä Seals & Bearings joins the Green Award scheme in support of clean environment
12:48 WMU Board of Governors meets in Turkey
12:25 MAN Diesel & Turbo partners with Hyundai to build new test-engine facility in Ulsan
12:00 Workshop on prevention and control of shipping and port air emissions being developed as part of GloMEEP-IAPH partnership
11:36 19 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 21-22
11:21 Russian Trade and Economic Development Council sign MoU to further strengthen commercial ties with Abu Dhabi Ports
11:14 Bunker prices are flat at the Far East ports of Russia (graph)
10:53 The Maritime Standard announces a special discount for the 2018 Awards
10:27 Brent Crude futures price up 0.01% to $69.48, Light Sweet Crude – up 0.09% to $65.23
10:05 Ukraine’s water transport carried 1,000 passengers in 2M’18, down 64.7%, Y-o-Y
09:41 Cargo transportation by Ukraine’s water transport grew by 41.2% to 0.3 million tonnes in 2M’18
09:19 Baltic Dry Index down to 1,117 points

2018 March 21

18:29 Wight Shipyard wins second order for fast ferry duo from Mexican ferry operator
18:16 Dorian LPG announces third Japanese financing
18:14 GasLog Partners LP announces acquisition of GasLog Gibraltar for $207 million and repayment of intercompany loan
18:04 ABP South Wales achieves new ISO 9001:2016 standard for bulk handling operations
17:42 Port of Gdansk to breathe new life into Dworzec Drzewny Quay
17:20 ABB wins contract to equip two next-generation shuttle tankers with future-proof solutions
17:13 Finnlines decides to exercise the options to lengthen two more ro-ro vessels
17:03 Throughput of Chinese ports up 4.7% to 1.45 billion tonnes in 2M’18
16:39 Pavel Bezmaternykh elected as Director of Eastern-Siberian Inland Navigation Company
16:18 Port of Gdansk overhauls its quays
16:00 Novikombank provides a $100 million loan to STLC
15:47 Huntington Ingalls names two vice presidents
15:21 Gulf Island Fabrication secures contracts for two specialized vessels
15:04 Seatrade Maritime Middle East 2018 to be held in Dubai on 29-31 October as part of UAE Maritime Week
14:42 LUKOIL’s profit in 2017 more than doubled YoY to RUB 418.8 bln
14:23 Wärtsilä and Crowley extend maintenance agreement for 11 articulated tug barges
13:56 IMO launches a video outlining how GMN initiative is uniting MTCCs into a global network
13:29 Ulstein built SOV Acta Auriga completes sea trials
13:11 Dubai will host MARACAD Maritime Innovation Awards on 3 October 2018
13:02 MARACAD 2018 will be held in Dubai on 2-3 October
12:30 17 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on March 20-21
12:09 Port of Quebec to cooperate with Port of Zeebrugge
11:47 Port of Immingham and partners hosted Driving Safety Forward forum
11:39 Vostochny Port JSC exported 5 million tonnes of coal YTD (photo)
10:50 Claimants and defendants in the case on allision of Delta Pioneer tanker with a pier at Primorsk port come to amicable agreement
10:31 Finnlines plans to lengthen two more Ro-Ro ships
10:15 Brent Crude futures price up 0.24% to $67.58, Light Sweet Crude – up 0.25% to $63.7
09:51 ABP's Port of Ayr took delivery of Liebherr crane
09:44 Bunker prices are going up at the Port of Saint-Petersburg, Russia (graph)
09:17 Baltic Dry Index down to 1,122 points
08:08 Scottish ports secure AEO status for Leith, Rosyth and Grangemouth
00:32 Ontario Government accepts Damen proposal for full ferry electrification

2018 March 20

18:20 Sirius Petroleum announces delivery of compact well head systems for Ororo-4 and Ororo-5
18:02 Leningrad Region Governor visits Vyborg Shipyard
17:56 PSA’s Bharat Mumbai Container Terminals enhances Nhava Sheva connectivity with first barge and train volumes
17:40 Van Oord posts results for 2017