• 2019 April 1 11:30

    SeaBird Exploration receives two new contracts

    SeaBird Exploration Plc has announced two new contracts:

    The Company has received a letter of award for a niche 3D survey in West Africa, with a total value of approximately USD 6.5 million. The survey is expected to commence in the 2nd quarter of 2019, with a total duration of about 80 days. The total duration includes associated vessel transit.

    Due to fleet positioning and other contract opportunities, SeaBird will time-charter the Nordic Explorer for this survey and will also bid the Nordic Explorer for subsequent opportunities in the second half of 2019. In connection with the charter agreement, SeaBird will receive nine kilometers of ION DigiSTREAMER from the owners of the Nordic Explorer.

    Furthermore, SeaBird has secured a source contract for an OBN survey in the Gulf of Mexico. The contract has an expected duration of three weeks and will start in early April. SeaBird's Harrier Explorer has been working on this survey since February 2019, under a previously announced contract. She will now be joined by the Osprey Explorer, which recently completed other work in the region, for a period of simultaneous source operations. Separately, SeaBird has also agreed a 21 day off-hire period for the Voyager Explorer related to a technical stop in January 2019.

    SeaBird is seeing increasing demand for its services within the source vessel, 2D and niche 3D markets. In 2018, total duration on received tenders was up 52% compared to 2017, and the Company experienced a 40% increase in days on contract in the same period. Rates on new contracts across the three operating segments are as a result up 15-30% year on year.

    As a consequence of increased demand in all regions, SeaBird turned down work in the first quarter of 2019 due to scheduling conflicts based on its current fleet capacity of four operating vessels. To be able to pursue a strong and diversified pipeline of contract leads in all segments, the Company is evaluating several attractive opportunities for vessel capacity expansion. This includes an option to add the BOA Galatea and BOA Thalassa to the operational fleet, which are currently owned by BOA SBL AS, a subsidiary of BOA Offshore AS. These vessels are well suited for source and 2D operations, as well as EM seabed logging, for which BOA Thalassa is currently contracted with EMGS ASA until September 2019, with options to extend for three times six months. SeaBird has received irrevocable acceptances from a majority of Boa SBL bondholders for a sale of the vessels based on an en bloc valuation of NOK 185 million.

    In addition, the Company is considering entering into other negotiated charter arrangements for capacity expansion at flexible terms.

    SeaBird emphasizes that no binding decisions have been made regarding any capacity expansion at the current stage and the Company is evaluating the alternatives. SeaBird will only enter into binding agreements at structuring terms accretive to current shareholders.




2020 January 25

15:27 USCG Cutter Polar Star arrives in Antarctica
13:11 TORM orders two scrubber-fitted LR2 newbuildings
12:47 USCG opens Blue Technology Center of Expertise
10:47 Hamburg Süd’s COO Frank Smet to step down
08:31 NORDEN signs charter for more women in shipping

2020 January 24

18:07 Port of Hamburg not expecting reduction in container throughput caused by liner service changes announced by Ocean Alliance and Maersk
17:42 First ship-to-ship LNG bunkering operation in the Port of Rostock
17:40 Engineering troops to develop a plant for desalination of water in the Arctic
17:16 Gasum completes 200th ship-to-ship LNG bunkering
16:52 Carnival Mardi Gras floated out at Meyer Turku shipyard
16:51 Former COO of Stanlow refinery: “The first step of the digitalization is underway”
16:27 Tallink’s vessel Silja Europa to be renewed at Turku Repair Yard in Naantali, Finland
16:04 United Heavy Lift GmbH Hamburg takes over a modern Heavy Lift fleet of nine eco-friendly F900 newbuildings
16:03 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea and East Med to Far East, Middle East Gulf and Red Sea
15:32 First Deputy PM Andrey Belousov held meeting with senior executives of RF Transport Ministry
15:03 Dublin Port Company christens its new Pilot Boat, DPC Tolka
14:30 Sergey Sapegin takes the helm of Kaliningrad Railway
14:03 The Grande Houston delivered to the Grimaldi Group
13:25 Port of Guayaquil inaugurates deepened maritime access channel
12:58 Bunker prices are table at the port of Saint-Petersburg, Russia (graph)
12:01 CMA CGM announces PSS for reefer exports from Ecuador to Europe, Baltic, Mediterranean, Middle East & Asia
11:00 MAN Energy Solutions wins contract to supply the main propulsion engines for two patrol vessels
10:33 The ShipFC project to convert offshore vessel to run on ammonia-powered fuel cell
10:22 MABUX: Bunker market this morning, Jan 24
09:31 Brent Crude futures price is up 0.35% to $62.26, Light Sweet Crude – up 0.4% to $55.81
09:14 Baltic Dry Index is down to 576 points

2020 January 23

19:00 Chembulk Tankers announces management changes
18:27 KOTUG provides salvage assistance to MV EM-OINOUSSES
18:07 Ocean Installer awarded contract with Dana Petroleum
17:42 Almost 290 cruise liners will call at Ports of Stockholm in 2020
17:37 NYK-operated coal carrier Sunshine Pride enters service for Joban Joint Power
17:19 Throughput of port Helsinki (Finland) in 2019 fell by 2% to 14.42 million tonnes (table)
16:48 Draft Strategy for Development of Russia’s Arctic Zone to be ready by 20 March 2020
16:05 The AUTOSHIP project receives funding of almost Euro 20.1 mln
15:21 probunkers signs LOI with Hyundai for the construction of two LNG bunker vessels
15:16 Perspectives for containers and ro-ro market discussed in Berlin
14:40 New intermodal train connection arranged from Luxembourg
13:37 Container Terminal Saint-Petersburg spent RUB 11 million under its social and charity programmes in 2019
13:03 Global Ports Group to renew handling equipment
12:29 Russia's Main Department of State Expertise approves reconstruction at the port of Petropavlovsk-Kamchatsky
12:05 Port of Long Beach moves more than 7.6 million TEU in 2019
11:48 Croatian DIV Group in process to take-over Kleven Verft
11:00 Austal awarded A$15.5m contract for a 41 metre high speed catamaran ferry for SGTM Mauritius
10:56 MABUX: Bunker market this morning, Jan 23
10:27 ABS marks record-setting three years without a work-related lost time injury
10:25 IBIA: IMO 2020 preparations pay off
10:03 Brent Crude futures price is down 0.4% to $64.33, Light Sweet Crude – down 0.48% to $58.1
09:46 TransContainer dispatched test train with hazardous cargo in reefers from Korea to Poland
09:24 Baltic Dry Index is down to 623 points
09:08 Swissterminal and DP World enter strategic partnership
08:36 CMA CGM introduces NETWORKING INTERMEDIATION SERVICES

2020 January 22

18:37 BunkerTrace secures first commercial partnership with Marfin Management
18:07 MAN Cryo to supply icebreaking RoRos with fuel gas supply system
17:45 Throughput of Chinese sea and river ports in 2019 grew by 5.7% YoY to 13.95 billion tonnes
17:20 Ships of RF Navy’s Northern Fleet approached the Strait of Tunis
17:06 Boluda Towage Europe introduces 1st retrofit of conventional tug complying with IMO TIER III Standards in Zeebrugge
16:56 Russian-Japanese anti-piracy exercise successfully completed in the Arabian sea
16:05 European shipping industry urges the revival of Operation Sophia
15:38 Marubeni and Klaveness join forces to create the world’s leading dry bulk Panamax pool
15:23 IMO Secretary-General calls for renewed cooperation at Davos forum