Mohammed Sanhaji’s Post

Breaking News: N-Sea Group Acquires Geo Plus, Highlighting Key Industry Trends N-Sea Group's acquisition of Geo Plus marks a significant development in the subsea services sector, underscoring several important industry trends: 1.    Market Consolidation This move aligns with the broader trend of consolidation in marine services, exemplified by today's other major acquisition where DOF Group agreed to acquire Maersk Supply Service for $1.11 billion. 2.    Fleet Expansion N-Sea gains 6 high-end hydrographic vessels ranging from 15m to 42m, enhancing its capacity for shallow water hydrographic surveys, both geophysical and geotechnical. 3.    Technological Advancement The industry continues to adopt advanced technologies, with vessels like Geo Ranger featuring smart onboard technology, dynamic positioning, and efficient propulsion systems. 4.    Environmental Focus With the global subsea systems market projected to reach $26.54 billion by 2029, companies are positioning themselves to meet the growing demand for offshore energy projects while prioritizing efficiency and environmental considerations. 5.    Operational Flexibility Geo Plus will maintain operational independence while leveraging N-Sea's resources, a strategy aimed at maximizing efficiency and market reach. These strategic moves reflect the industry's response to evolving market demands, regulatory pressures, and the need for comprehensive, technologically advanced subsea solutions. As the offshore sector continues to grow, we can expect further consolidation and technological integration to drive innovation and efficiency in marine services. #SubseaServices #MarineIndustry #OffshoreTechnology #MarketConsolidation

Breaking News: DOF Group Acquires Maersk Supply Service for $1.11 Billion On July 2, 2024, DOF Group CEO Mons Aase announced the acquisition of Maersk Supply Service (MSS) in a significant cash and stock deal valued at $1.11 billion. Aase expressed excitement about this strategic milestone, emphasizing the strong industry rationale and shared vision with A.P. Moller Holding, which will become a major shareholder. Under the DOF name and brand, this merger will create a leading offshore services provider, strengthening the global position of the combined company with the world’s largest fleet of CSVs and high-end AHTS vessels. Key highlights: • Fleet Expansion: The combined fleet will comprise 78 modern offshore/subsea vessels, including 65 owned assets. This includes: - 8 high-specification Construction Support Vessels (CSVs) - 13 high-specification Anchor Handling Tug Supply (AHTS) vessels - 1 cable layer vessel • Market Impact: This merger creates one of the largest oil services companies on the Oslo Stock Exchange, with a combined market cap of approximately $2.3 billion. • Industry Trends: This acquisition aligns with the projected CAGR of 5.7% for the offshore supply vessel (OSV) market from 2021 to 2028, driven by increased offshore oil & gas exploration and the burgeoning offshore wind sector. • Financial Structure: DOF will pay $577 million in cash and issue new shares, making MSSH (a subsidiary of A.P. Moeller Holding) a major shareholder. • Global Reach: The combined entity will operate under the DOF Group name, enhancing its ability to serve customers across all continents in the offshore energy industries. This strategic move positions DOF Group at the forefront of the evolving OSV market, which is estimated to reach $20.27 billion by 2030. #OffshoreIndustry #MaritimeMerger #OSVMarket #EnergyTransition

Exciting progress in U.S. offshore wind energy! Three major projects have recently received final construction approval from the Bureau of Ocean Energy Management (BOEM), marking significant milestones for our clean energy future. Timeline of Approvals: Empire Wind 1 & 2 (Equinor): Approved (exact date not provided) Sunrise Wind (Ørsted): Approved (exact date not provided) New England Wind (Avangrid): July 1, 2024 Project Details: Empire Wind 1 & 2 capacity: 2,076 MW Sunrise Wind capacity: 924 MW New England Wind capacity: 2,600 MW Total capacity of these three projects: 5,600 MW Potential to power: Over 1.9 million homes Locations: Empire Wind: Off the coast of New York Sunrise Wind: South of Martha's Vineyard, MA New England Wind: 20 nautical miles south of Martha's Vineyard, MA, and 24 nm southwest of Nantucket, MA These approvals represent the 6th, 7th, and 8th commercial-scale offshore wind projects approved in the U.S., showcasing the rapid growth of this industry. Additionally, on July 2, 2024, the Atlantic Shores South project (EDF Renewables & Shell) became the 9th approved project, located 8.7 miles off the New Jersey shore with a capacity of up to 2,800 MW. These projects contribute to the administration's goal of deploying 30 gigawatts of offshore wind energy capacity by 2030 while creating thousands of jobs and driving economic growth in the renewable energy sector. The future of renewable energy is bright, and it's happening right off our shores! #OffshoreWind #CleanEnergy #RenewableEnergy #SustainableFuture

Revolution in Offshore Surveying: Remote Operations Industry giants like Fugro and Ocean Infinity are leading the way in offshore surveying with remote operations. The benefits are undeniable: • Enhanced safety by reducing offshore personnel exposure • Improved efficiency through 24/7 operations • Increased sustainability with smaller, fuel-efficient vessels • Boosted profitability by optimizing resources But what about smaller survey companies? How can they keep pace and remain competitive without the capital for major tech investments? Could leasing companies be the answer? Ashtead Technology, a leading equipment provider, has been experiencing significant growth, with a 51% increase in revenue in 2023 compared to 2022. Similarly, STR Subsea is reporting record growth, with a 30% sales increase in H1 2024. This surge suggests a rising demand for cutting-edge survey tech. For smaller firms, leasing could offer: • Access to state-of-the-art remote technologies without hefty upfront costs • Flexibility to scale operations based on project demands • Ability to stay current with rapidly evolving tech Share your thoughts! How is your company adapting to the remote operations trend? #RemoteOperations #USV #MarineTechnology #OceanTech #SmallBusinessStrategy

A picture is worth a thousand words, but this one speaks volumes about our changing planet. These images of Blomstrandbreen glacier in Svalbard, taken in 1918 and 2002, reveal a stark reality: our Arctic is transforming at an unprecedented rate. The glacier's dramatic retreat isn't just a local phenomenon - it's a powerful indicator of global climate change. As marine industry professionals, we're at the forefront of observing and responding to these environmental shifts. How can we innovate to mitigate impacts and adapt to these new realities?

The defense and technology sectors have been abuzz with recent developments concerning Northrop Grumman's Manta Ray, an innovative unmanned underwater vehicle (UUV) developed for the Defense Advanced Research Projects Agency (DARPA). Let's explore the key facts and recent events surrounding this project: Successful Testing Phase In early 2024, Northrop Grumman conducted comprehensive full-scale testing of the Manta Ray prototype. The testing took place from February to March 2024 off the coast of Southern California. The focus was on evaluating the hydrodynamic performance of the uncrewed underwater vehicle (UUV) in real-world conditions. The Manta Ray showcased its underwater capabilities, utilizing diverse propulsion and steering techniques such as buoyancy control, propellers, and control surfaces during testing. Dr. Kyle Woerner, DARPA's program manager for Manta Ray, stated: "Our successful, full-scale Manta Ray testing validates the vehicle's readiness to advance toward real-world operations after being rapidly assembled in the field from modular subsections." Key Features of Manta Ray • Energy-efficient glider design for extended missions • Modular construction enables easy global deployment • Advanced autonomy ensures mission success while keeping personnel safe • Versatile payload capabilities for various undersea tasks • Innovative energy harvesting from ocean thermal gradients • Ability to anchor to the seafloor in a low-power state Google Maps Sighting In June 2024, attentive Google Maps users made an intriguing discovery at the Port Hueneme naval base in California, identifying what appears to be the Manta Ray UUV. The sighting occurred at Naval Base Ventura County (NBVC) in Port Hueneme, California, with satellite imagery dated November 2023 capturing the unmanned underwater vehicle. This unexpected revelation provides a rare public glimpse of the UUV and offers valuable insight into its relative size. While the sighting has generated considerable interest among military technology enthusiasts and the public, it's important to note that the presence of prototype military equipment at naval facilities is not uncommon, as these bases often serve as testing and development grounds for new technologies. Looking Ahead DARPA and the U.S. Navy are currently discussing the next steps for the Manta Ray program, including additional testing and potential technology transfers. As underwater autonomous technology continues to advance, projects like Manta Ray are likely to play an increasingly important role in naval operations, oceanographic research, and maritime security. #UnderwaterTechnology #AutonomousSystems #DefenseTech #UMS #UnmannedSystems

Exciting news in the underwater acoustics industry! NORBIT continues its strategic growth with another major acquisition: INNOMAR Technologie GmbH, the global leader in parametric sub-bottom profilers. Key highlights of this acquisition: ·      INNOMAR brings 30 years of expertise in sub-bottom profiling technology ·      Expands NORBIT's Oceans segment portfolio & diversifies customer base ·      Strengthens NORBIT's position in underwater acoustics ·      Aligns with NORBIT's vision to Explore More & deliver innovative solutions ·      Valued at EUR 40.5 million (USD 44.15 million) This move is the latest in NORBIT's series of strategic acquisitions over the past 15 months. It follows the acquisition of Seahorse Geomatics in April 2023, which strengthened NORBIT's presence in the North American market, and Ping DSP in September 2023, which enhanced NORBIT's sonar technology capabilities. These acquisitions collectively demonstrate NORBIT's commitment to expanding its global reach and advancing underwater acoustic solutions. The integration of INNOMAR's cutting-edge sub-bottom profilers with NORBIT's existing multibeam and 3D side-scan capabilities creates a powerful synergy in ocean mapping solutions. INNOMAR's parametric sub-bottom profilers are renowned for their high-resolution sub-bottom data and excellent penetration, covering all depth ranges from less than one meter to full ocean depth. With INNOMAR's strong presence in over 80 countries and its focus on applications like offshore wind farm installation, geological surveys, dredging, and archaeological surveys, this acquisition opens up exciting new possibilities for NORBIT's global reach and technological advancements. NORBIT's CEO, Per Jørgen Weisethaunet, said, "We are enthusiastic about welcoming Innomar to the NORBIT family. Nearly 30 years of accumulated domain knowledge with a strong and well-established brand aligns with NORBIT's vision to be recognized as world-class, enabling people to Explore More." This strategic move is expected to deliver significant value to shareholders, with positive revenue synergies and a strong financial outlook. NORBIT is positioning itself as a comprehensive solution provider in the underwater acoustics market, intending to exceed NOK 2.75 billion (USD 261.25 million) in organic revenues by 2027. This wave of industry partnerships is electrifying for ocean exploration and mapping enthusiasts. We can expect to see extraordinary breakthroughs in underwater imaging, autonomy, real-time analytics, and more on the horizon. Exciting times lie ahead! #UnderwaterAcoustics #MarineTechnology #Acquisition #Innovation #OceanExploration

Offshore Wind Market Update: Global Growth Surges, US Faces Challenge As we dive into 2024, the offshore wind industry shows remarkable resilience and growth globally, while the US market navigates both opportunities and hurdles. Let's break down the key trends from the latest market reports: Global Offshore Wind: ·     Total capacity reached 75.2 GW by the end of 2023 - a 50% increase from 2021! ·     China continues to lead annual installations, adding 6.3 GW in 2023 ·     Europe had a record year, adding 3.8 GW across 7 countries ·     Global project pipeline now exceeds 410 GW ·     Floating offshore wind gaining momentum, with 8.5 GW expected by 2030 ·     Costs are expected to continue declining as technology and scale improve US Offshore Wind: ·     Project pipeline grew 15% to 52,687 MW ·     First two commercial-scale projects (Vineyard Wind 1 and South Fork Wind) began turbine installation ·     $2.7 billion in new supply chain investments announced in 2022 ·     Inflation Reduction Act providing crucial support and tax credits Challenges & Opportunities: ·      Economic headwinds from inflation and rising costs impacting project viability ·      Some US projects seeking to renegotiate offtake agreements ·      Long-term market fundamentals remain strong The US market is at a critical juncture. While facing near-term economic challenges, the foundations for significant growth are in place. State targets continue to increase, the federal government is streamlining permitting, and the supply chain is expanding. 2024 will be pivotal in determining how quickly the US can overcome current hurdles and accelerate deployment. Globally, offshore wind continues its impressive trajectory. The technology is proving its worth in the clean energy transition, with costs declining and new markets emerging. Floating offshore wind holds enormous potential for opening up new areas for development. #OffshoreWind #CleanEnergy #RenewableEnergy #EnergyTransition #Sustainability