SpaceX Deimos refit for rockets; Video 25,000t lift; Tidewater acquires SPO; robotic hull cleaning
It’s Good News Monday!
This Monday we talk about:
SpaceX semi-submersible heads to yard for ‘space age’ refit
VIDEO: Allseas' Pioneering Spirit Vessel Installs 25,000t Johan Sverdrup P2 Platform
UPDATED: HAL Holding makes offer to acquire Boskalis – wants to take company private
Tidewater acquires Swire Pacific Offshore in US$190M deal
Greensea Launches Hull Cleaning Spin-off Armach Robotics
“The semi-submersible Deimos being towed from Brownsville, Texas to ST Engineering Halter Marine, Pascagoula, Mississippi, for conversion (source: @SpacePadreIsle/Twitter)”.Image from Riviera.
SpaceX’s Deimos semi-submersible is on its way to ST Engineering Halter Marine’s shipyard in Mississippi to be converted to a floating launch platform, just as SpaceX’s Phobos semi-sub was last year. The converted platforms will be used for launch and landing of the new Starship super heavy rocket to carry cargo and crew into space. The vessels were purchased from Valaris, a Houston based drilling contractor for $4M per vessel.
Video from Offshore Engineer.
Pioneering Spirit installed the second processing platform (P2) for the Johan Sverdrup Phase 2 development in Norway in a single lift. The platform is 25,000 tons, making it Aibel’s largest delivery. Remaining work for the platform includes “hook-up and commissioning of the P2 platform, completion of the subsea facilities, and flowlines installation, and drilling of the development wells, which are progressing to schedule.” Phase 2 is scheduled to come on stream in the Q4 of 2022.
“Boskalis operates an extensive fleet of offshore vessels, heavy-lift units and dredgers (source: Boskalis)”. Image from Riviera.
HAL Holding intends to launch an offer of €32.50 (US$35.90) per share for all the outstanding shares of Royal Boskalis, an all cash offer. It already owns 46.2% of the company and has no plans to change management or strategy, but feels the public listing offers limited value to Boskalis. HAL said the long-term nature of the projects means Boskalis could benefit from private ownership. It ended the fiscal year with strong performance: “Revenue increased to €2.96Bn (2020: €2.52Bn) and the EBITDA increased from €404M last year to €462M in 2021. Operating result increased by 42.0% to €199M (2020: €140M) and net profit was €151M. A year ago the company reported a net loss of €97M.”
“Quintin Kneen (Tidewater): The deal provides “Tidewater with significant additional earnings and free cash flow generation potential” (source: Riviera Maritime Media)”. Image from Riviera.
Tidewater has made a deal to acquire Swire Pacific Offshore (SPO) in a stock and cash deal worth $190M, making it the largest offshore support vessel owner. Tidewater’s fleet will be an estimated 203 OSVs. “Under the terms of the transaction, Tidewater will issue 8,100,000 Jones Act warrants, each of which will be initially exercisable for one share of Tidewater common stock at US$0.001 per share, plus a cash payment of US$42M.” Shares of TDW hit a new high on March 9 following the news.
“Armach’s small form factor hull service robot is man portable and promises near to 100% hull cleaning coverage. (Photo: Armach Robotics Inc)”. Image from Offshore Engineer.
Greensea Systems has spun off Armach Robotics, a subscription robotic hull cleaning service using autonomous, intelligent robots to handle biofouling. The solution can clean 100% of the hull surface and it provides a hull condition survey after each cleaning. It works on any coating and is one-person portable, making it small enough to get into tight spaces. It doesn’t use magnetic adhesion and can be used on non-steel and military vessels. After building a mental map of the hull, subsequent cleanings are more efficient. The company hopes to roll out a bigger pilot program in 2022.
Smile, it’s Good News Monday! :-)