Nordic American Offshore Initiates $100m IPO, Order for New PSVs

Platform supply vessel company Nordic American Offshore has announced plans to raise more than $100 million through its IPO that will help fund the purchase of at least two new platform supply vessels, which would bring the fledgling offshore suppliers’ fleet to a total of 10 vessels. Bermuda-based NAO announced Monday the commencement of its initial public offering of … [Read more...]

COSCO Wins Ulstein PX121 Order

COSCO Corporation announced today the signing of contracts with a undisclosed shipowners for four emergency response - field support vessels (FSVs) and a pair of Ulstein-designed PX121 platform supply vessels. The total value of the contracts is approximately USD $100 million. The FSVs will be built at COSCO (Dalian) shipyard and the PX121s are to be built at COSCO … [Read more...]

Damen Gains New Business from Pronav, PSVs Ordered

Swiss offshore shipowner Promar Shipping Services has pulled the trigger today on an order for two new 3300 dwt platform supply vessels from Damen Shipyards Group. Damen notes the first PSV 3300 will be delivered in February 2015 and the second in August of the same year. The two vessels will be targeted for employment within the West African market according to Promar.   … [Read more...]

Pacific Radiance Group Orders Pair of Ulstein X-Bows

Ulstein announced today that Singapore-based OSV operator, Pacific Radiance Group, has ordered the building of two platform supply vessels of their PX121 design at an undisclosed Chinese yard.  The vessels are estimated for deliveries in Q2 and Q3 2015 and the contract includes options for two more vessels. The Pacific Radiance Group is currently managing over 120 vessels … [Read more...]

Deep Sea Supply Considers Order for 10 New PSVs

Deep Sea Supply, a Cyprus-based offshore supply vessel operator, announced in an exchange filing today plans to potentially order up to 10 new platform supply vessels. They note that discussions surrounding the deal are currently underway with PSV Holding Inc, a company affiliated with Hemen Holding. For Deep Sea Supply, they appear ripe for expansion considering a very … [Read more...]