• 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 October 29

13:53 Novatek to launch LNG terminal in Rostock (Germany) in 2023
13:30 Rosatom looks into using barges for LNG delivery to Arctic regions
13:11 IMEC and ITF opens big quarantine and testing facility in Manila
12:52 RS grants GASA to GTT’s Mark III Technology
12:29 Rosatom expects reactor plants RITM-200 to be efficient for container carriers and oil tankers
12:10 GTT entrusted by Zvezda with the tank design of ten ARC7 ice-breaking LNG сarriers
11:48 USC forecasts complete transition of shipping industry to electric propulsion in 20-25 years
11:30 Rijkswaterstaat has awarded the enlargement of the Twente canals to a consortium of Van Oord - Hakkers - Beens
11:09 DSV Panalpina acquires Prime Cargo
10:50 Novatek to put into operation 30,000-cbm gas carrier under Cryogas-Vysotsk project in 2022
10:37 Volvo Penta IMO III marine generator sets help power five electric ferries in Norway
10:09 International Association of Dredging Companies signs major strategic collaboration agreement with FIDIC
09:51 MABUX: Bunker Market this morning, Oct 29
09:46 Three LNG-powered product tankers for shipment of stable gas condensate from Ust-Luga to be delivered in 2022-23
09:24 Oil prices show slight increase
09:20 Vestdavit wins contract to supply six French Navy vessels
09:12 Baltic Dry Index as of October 28

2020 October 28

18:15 Sri Lanka's East Container Terminal inaugurates for operations
17:51 Tallink Grupp makes temporary changes to Tallinn-Helsinki route schedule from 29 October 2020
17:30 Key element of Russia’s collider facility NICA transshipped in Bronka
17:06 GONDAN delivers new fishing stern trawler to Prestfjord AS
16:39 Rosmorrechflot resumes work on programme for encouraging LNG-powered shipping
16:13 Cavotec launches next generation MoorMaster
16:05 CNL awarded Transport Canada contract to research clean energy technologies to decarbonize marine sector
15:48 Profit attributable to NOVATEK shareholders amounted to RUB 24.1 billion in 9M’2020
15:25 Petersburg Oil Terminal increased shipments of oil products by 18% in 9M'2020
15:03 World’s first LPG-retrofit announced
14:56 SCF time charters three icebreaking LNG carriers to the Arctic LNG 2 project
14:22 FSUE Rosmorport to adjust design documentation for dredging at LNG terminal in Bechevinskaya bay
14:03 LNG-fueled PCTC“SAKURA LEADER” accredited as the world's first digital smart ship
13:37 Blue Wave terminal in Azov port increased its throughput by 13% in 9M’2020
13:11 Cooperation agreement signed between Fincantieri and the Cochin Shipyard
12:35 LNG bunkering vessel Optimus built by Damen arrived in Shanghai for start-up procedures and sea trials
12:04 CMA CGM announces PSS for cargo from Pakistan to North Europe
11:42 Global Ports to launch tank container repairs service at Yanino
11:23 MPA launches RFP for new LNG bunker supplier licence
11:01 4th “LNG Fleet, LNG Bunkering and Alternatives” conference kicked off
10:50 CMIT receives largest container vessel in Vietnam’s history
10:15 “All Ferries of Russia. Baltic Sea” webinar scheduled for 6 November 2020
10:10 Total charters four new LNG-powered vessels
10:01 MABUX: Bunker Market this morning, Oct 28
09:59 CMA CGM announces FAK rates from Asia to North Europe
09:46 Bunker market sees mixed price movements in the Port of Saint-Petersburg, Russia (graph)
09:28 Oil prices start decreasing
09:13 Baltic Dry Index as of October 27

2020 October 27

18:37 Bahri net profit up 114% in third quarter of 2020
18:07 Premuda and Columbia Shipmanagement form joint venture
17:52 Publication of first N2000 nautical charts postponed to 2021
17:45 Deep water berth extension at Port of Halifax fully operational
17:37 SC Ports welcomes two new ship-to-shore cranes
17:30 FSUE Rosmorport to take part in 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
17:06 Costa Cruises completes first LNG bunkering operation in Italy
16:24 OOCL updates North Europe – Turkey service
15:33 New tanks for storage and processing of polluted water have been put into operation in the port of Riga
15:04 Norway's biggest ferry company orders two new ferries from Havyard LAB
14:10 Port of Gothenburg posts results for January-September 2020
14:06 Krasniye Barrikady launched non-self-propelled cargo pontoon of Project GPRN
13:21 Wärtsilä cargo handling system design selected for new Very Large Ethane Carrier vessels
12:52 Bunker prices are stable in the Far East ports of Russia (graph)
12:27 BlueWater Reporting issues Q3 2020 World Liner Supply Report