MMA Offshore Bags ConocoPhillips, Côte d'Ivoire Vessel Contracts

MMA Offshore Ltd. has been awarded two new term awards from ConocoPhillips and for work offshore Côte d'Ivoire, the company said.

ConocoPhillips has awarded MMA vessel contracts of up to 10 months duration for a multivessel marine spread to support drilling and shut-down operations at Bayu-Undan in the Timor Sea.

The award is for two platform supply vessels to provide supply support services for the duration of the drilling campaign, along with a number of Anchor Handling Tug Supply vessels to support shutdown, rig moves and additional supply scopes.

In addition, MMA has secured a one year contract for the MMA Privilege with a major independent crude oil and natural gas producer to support a development project offshore Côte d'Ivoire. The contract will start in direct continuation of the vessel’s current contract in Côte d'Ivoire which is due to end in April 2018.

The MMA Privilege is a multipurpose work vessel with 239 man accommodation that has been working in Côte d'Ivoire since April 2016 when it was delivered from MMA’s Batam Shipyard.

Saab Contracts For Fleet Of Sabertooth ROVs

A fleet of Sabertooth ROVs will be roaming and hovering for a major offshore operator now that an order for the first system has been placed with Saab Seaeye.

The unnamed customer is working with Saab Seaeye to make significant advances in the ROV’s capabilities to ensure it can meet the demands of its work. Sabertooth is the only system in its class that can operate in both fully autonomous and tethered modes, enabling dual operations from a single platform.
Sabertooth’s portfolio includes inspection, maintenance and repair across a range of subsea operations. It also has the ability to conduct site investigation surveys and decommissioning support.

GasLog Partners Signs Multiple New Charter Agreements

GasLog Partners announced agreements for two charters and options for two extensions on March 23.

The charter for GasLog Santiago begins in third-quarter 2018 and will last about three and a half years. The other agreement, a one-year charter for a GasLog steam vessel—either Methane Jane Elizabeth or Methane Alison Victoria—will begin in fourth-quarter 2019.

The GasLog Santiago charter has an option to be extended for up to seven years. The steam vessel’s charter can be extended for up to four years, with options for both charters at escalating rates.

“These charters will provide continuous employment for GasLog Santiago and either Methane Jane Elizabeth or Methane Alison Victoria, increase the partnership’s contracted revenue visibility, diversify our customer base and support our year-on-year distribution growth guidance of 5% to 7% in 2018,” said Andy Orekar, GasLog Partners’ CEO.

GasLog Santiago, a tri-fuel diesel electric LNG carrier built in 2013, is on a multiyear time charter with a wholly owned subsidiary of Royal Dutch Shell through July 2018. It will be drydocked in the second quarter for the installation of a reliquefaction module.

Navios Maritime Acquisition Sells VLCC for $44.5 Million

Navios Maritime Midstream Partners in late March announced the purchase of the very large crude carrier (VLCC) Nave Galactic from Navios Maritime Acquisition Corp. for $44.5 million.

Navios Acquisition, which also agreed to extend the chart rate backstop of the Shinyo Kannika to the Nave Galactic, said it will use the proceeds from the sale of the vessel for repayment of indebtedness, reinvestment in vessels and general working capital purposes.

The transaction means that Nave Galactic will be substituted by Nave Equinox and Nave Pyxix MR2 product tankers as collateral for a secured bond due in 2021.

Two Carriers Are Named, Delivered

The first two of five liquid ethylene gas carriers for a Chinese ship owner were completed and named on March 28, said Wärtsilä Corp., which designed and delivered the cargo handling systems.

The vessels were built by CIMC Sinopacific Offshore & Engineering Co. Ltd., which filed for bankruptcy in 2016 and reorganized in 2017.

The systems include a reliquefaction plant for ethylene, ethane, and LPG and other petrochemical cargoes. Wärtsilä, which provided site supervision, also delivered the transfer system of cargo pumps and control, monitoring, and safety system.

—Staff Reports