Logitel Delays Delivery of Teekay’s Big Round Accommodation Rigs

  Singapore-based Logitel Offshore Holdings has delayed the delivery of its second and third floating accommodation unit after striking an agreement COSCO. Logitel was co-created by Norway's Sevan Marine in 2013 in order to develop opportunities for Sevan’s unique cylindrical hull design within the FPSO/FSO business segment. The company is now owned by Teekay … [Read more...]

Sevan’s FLNG Concept Approved-in-Principle by ABS

“By awarding Sevan AIP, we have acknowledged that the company’s innovative approach to designing and constructing a first-of-its-kind FLNG production unit is based on sound engineering practices and ABS classification standards,” said Tor-Ivar Guttulsrød, Director of FLNG, Global Gas Solutions, at ABS. “ABS continues to support new FLNG concepts that, when fully developed and … [Read more...]

Teekay Orders Another Cylindrical Floating Hotel from Cosco Nantong

Adding to the two other newbuilds currently under construction, Teekay Offshore Partners LP has exercised the first of six options to build an additional Floating Accommodation Unit (FAU) based on the Sevan design at the Cosco Shipyard, Nantong, for delivery in Q3 2016. CEO Carl Lieungh comments “Sevan’s cylindrical hull design is perceived to have several competitive … [Read more...]

Powerful Tug Drags Giant Cylinder for 11,500 Miles

After an 11,500 nautical mile tow from Singapore to Curaçao, via the Cape of Good Hope, the Fairmount Sherpa's job is done. This 75-meter, 16,320 BHP ocean-going tug hauled Seadrill's newly delivered cylindrically-shaped drilling rig, the Sevan Louisiana, from COSCO (Nantong) Shipyard in China, while making stops in Port Louis (Mauritius), Walvis Bay (Namibia) and Port of … [Read more...]

Seadrill’s Bid for Sevan Marine Falls Short

After spending NOK 461 million for a 50.1 percent majority stake in deepwater drilling contractor Sevan Drilling, Seadrill was required by the Norwegian Securities Trading Act to make an offer for all remaining shares of the company. On July 24, an offer was made, however it didn't gain sufficient interest from shareholders and as of today, the acceptance period of the offer … [Read more...]