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  • Writer's pictureSarah Whiteford

Blue skies, Teekay acquired for $6.2B, Goldeneye platform removed, Norwind orders 3 vessels

It’s Good News Monday!

This Monday we talk about:

  1. Shipping Companies Receive Awards for Slowing to Protect Blue Whales, Blue Skies

  2. Investment Firm to Acquire Teekay LNG in $6.2 Billion Deal

  3. Heerema's Thialf Removes Shell's Goldeneye Platform

  4. Norwegian newcomer to build two CSOVs and convert PSV

  5. ARV-i: New Subsea Resident Vehicle Set to Launch

“MSC, Hapag-Lloyd, Yang Ming, Swire Shipping, and MOL ACE received Sapphire awards”. Image from gCaptain.

The awards for the 2020 Protecting Blue Whales and Blue Skies program are in. The program recognizes global shipping companies who slow down in the San Francisco Bay area and Southern California region to reduce pollution, save blue whales, and lower underwater noise. The 2020 program ran from May 15, 2020 through November 15, 2020 with the goal is to lower particulate emissions for California’s coastal areas, improving air quality in smog-prone regions. “The 10-knot target follows the National Oceanic and Atmospheric Administration’s (NOAA) and United States Coast Guard request for all vessels (300 gross tons or larger) to slow down during the months of peak blue, humpback, and fin whale abundance to protect these endangered whales from deadly ship strikes.” 16 companies were recognized this year at three different levels:

Sapphire Award: MSC, MOL ACE, Yang Ming, Hapag-Lloyd, Swire Shipping.

Gold Award: Evergreen, Maersk Line, CMA CGM, Wallenius Wilhelmsen, NYK Line, Cosco Shipping, G, “K” Line.

Blue Sky Award: ONE.

Check out the original article for more information on the program.

“The Teekay LNG carrier Oak Spirit, destined for Japan, transits the Panama Canal carrying a cargo of U.S. Shale gas exported from Cheniere's Sabine Pass terminal. Photo credit: Teekay”. Image from gCaptain.

Teekay Corporation’s (NYSE: TK) LNG shipping arm Teekay LNG Partners (NYSE:TGP) has reached an agreement to be acquired by Stonepeak, an investment firm, at a value of $6.2 billion. Teekay LNG is a large independent owner and operator of LNG carriers with an interest in “47 LNG carriers, 21 mid-size LPG carriers, and seven multi-gas carriers. The company also Teekay LNG owns a 30 percent interest in an LNG regasification terminal.” The acquisition price is $17.00 per common unit, a premium to the Oct 1, 2021 price. The deal is expected to close by the end of the year.

Heerema Thialf performing a lift at sea. “Credit: Heerema Marine Contractors”. Image from Offshore Engineer.

Heerema has removed Shell’s North Sea Goldeneye wellhead platform in two pieces, together weighing about 4300 metric tons. Thialf, a heavy lift vessel, removed the topside and jacket, then transported them to the AF Environmental Base in Norway, where it will be recycled and reused. Removing the pieces completed the cycle on a project Heerema installed back in 2003. It is expected that more than 97% of the material will be recycled.

“The first of Norwind Offshore's new vessels will be delivered by Vard in Q2 2023 (source: Vard)”. Image from Riviera.

Norwegian company Vard has contracts to build two CSOVs and convert one PSV for Norwind Offshore, based in Ålesund. The three vessels combined contracts are worth Nkr1.4Bn (US$160M), with the option to build two more CSOVs. The first vessel is expected to be delivered from Vard Norway in Q2 2023 and the second by Vard Vung Tau in Vietnam in Q3 2024. The conversion of the Vard-built PSV will be converted at Vard Brattvaag in Norway and delivered in Q2 2022. The newbuilds are VARD 4 19 design and accommodate 87 people, which can be increased to 120 people.

“Render of the ARV-i in operation underwater (Image: Boxfish Research / Transmark Subsea)”. Image from Offshore Engineer.

A new class of underwater observation vehicle will be launched this month at Ocean Business 21. Boxfish Research, a New Zealand company, and Transmark Subsea of Norway developed the new vehicle in a joint venture. ARV-i provides continuous monitoring of underwater assets like offshore wind, oil and gas, or aquaculture, and can be operated autonomously or by remote control. It’s subsea docking station provides wireless charging and data transfer, giving it the ability to stay underwater for months. It’s small and low profile at 25kg and “delivers unparalleled observation quality in the underwater environment with up to six machine vision cameras, a 4K navigation camera and 17,000 lumens of lighting.”

Smile, it’s Good News Monday! :-)


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