Houston, TX, United States
Houston, TX, United States

The American Bureau of Shipping is a classification society, with a mission to promote the security of life, property and the natural environment, primarily through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities. At the end of 2012, ABS was the second largest class society with a classed fleet of nearly 12,000 commercial vessels and offshore facilities.ABS' core service is the provision of classification services through the development of standards called ABS Rules. These Rules form the basis for assessing the design and construction of new vessels and the integrity of existing vessels and marine structures. Wikipedia.


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« DENSO invests in deep learning and vision processing startup THINCI; vision processing and deep learning for automotive | Main | BMW introduces new Cruise e-Bike » A study by two researchers at Sandia National Laboratories has concluded that building and operating a high-speed passenger ferry solely powered by hydrogen fuel cells within the context of the San Francisco Bay is technically feasible, with full regulatory acceptance as well as the requisite associated hydrogen fueling infrastructure. Funded by the Department of Transportation’s Maritime Administration and led by Sandia, the feasibility study of the SF-Breeze (San Francisco Bay Renewable Energy Electric Vessel with Zero Emissions) brought together the American Bureau of Shipping (ABS), the US Coast Guard, naval architect Elliott Bay Design Group (EBDG), the Port of San Francisco and dozens of other contributors. Tom Escher, president of San Francisco’s Red and White Fleet, first conceived of the project when he asked if it was possible to do away with emissions altogether on one of his ferries. Hydrogen-powered ferries do exist, but most are smaller, slower vessels used for tours on lakes and rivers. The SF-BREEZE study set out to discover whether it is technically feasible to build a large, fast vessel; could meet maritime regulations; and could be economically competitive with modes of transportation already available in the San Francisco Bay area. The group drew up conceptual specifications: a 150-passenger commuter ferry that would travel four 50-mile round-trip routes each day at a top speed of 35 knots (~39 mph) about 60% of the time. The ferry could refuel midday, between the morning and afternoon commutes. The project team split into two branches. One focused on technical and regulatory feasibility of the high-speed ferry, the other on the feasibility of the required land-side refueling infrastructure. Through examination of the options, the project team selected proton exchange membrane (PEM) fuel cells for the powerplant due to their low weight and volume, commercial availability, proven track record, zero emission characteristic, and acceptable power performance. The fuel cell base model chosen for this case study was the Hydrogenics HyPM HD30. Liquid hydrogen (LH ) was selected for on-board storage in order to minimize the weight that is so critical for performance of a high-speed vessel. The final specifications for the SF-BREEZE were: Due to the difference in characteristics between diesel engines and PEM fuel cells, the SF-BREEZE would have the following benefits in addition to its elimination of emissions: The need for speed drove the design to a slightly longer catamaran. The engineers were able to save weight by consolidating the support equipment for the fuel cells. To achieve the necessary safety standoffs from the fuel cells, the designers placed the fuel cells on the main deck of the vessel in a separate compartment. Leffers explained that this provides physical separation between the fuel cells and passengers. The project team investigated the SF-BREEZE GHG emissions associated with five LHfuel production pathways including renewable and non-renewable (fossil-fuel based) methods. While hydrogen PEM fuel cell technology has zero emissions at the point of use, it is important to consider the fuel production pathway and delivery emissions in a “well-to-waves” (WTW) analysis. The team found that the WTW GHG emissions for the SF-BREEZE using non-renewable LHare significantly higher than for the diesel-fueledferry on a per passenger basis. Due to the higher weight of the SF-BREEZE compared to the comparable diesel ferry, the SF-BREEZE has more on-board power in order to make 35 knots. This higher power makes the ferry consume more hydrogen, and when combined with the fact that making LH2 is much more energy intensive than making diesel fuel. However, using renewable LH , WTW GHG emissions for the SF-BREEZE ferry are reduced 75.8% compared to the diesel-fueled Vallejo. Compared to Vallejo Tier 4 emissions using diesel fuel, the SF-BREEZE using LH derived from steam reforming of fossil natural gas reduces WTW emissions of NO by 51.3%, HC by 68.8%, but PM emissions increase a factor of 2.5 times. Using LH made from 100% renewable electricity, there would be a WTW 99.1% reduction in NO , a 99.2% reduction in HC, and a 98.6% reduction in PM compared to the Vallejo running on diesel fuel with Tier 4 emission constraints. Regulations and economics. ABS issued a conditional Approval in Principal to verify that the conceptual design would be compliant with applicable regulations and rules and to identify any potential gaps in compliance. Combining their assessment with feedback from the USCoast Guard, Sandia found no regulatory show-stoppers and concluded that the vessel will be acceptable from a regulatory perspective once a more detailed “ready-to-build” design is generated. The hydrogen ferry would cost about twice as much as a comparable diesel ferry with today’s prices. Much of that cost is in the fuel cell system. Vehicle manufacturers have successfully brought fuel cell electric vehicles to market even though those cars are more expensive than comparable internal combustion engine vehicles. Many experts expect mass adoption of fuel cell electric vehicles to bring down prices of hydrogen fuel cells. Optimization. The next step is to optimize the vessel design. Working with Red and White Fleet and other stakeholders, Klebanoff and Pratt are now undertaking an optimization study. They will examine the tradeoffs between speed and costs and emissions among other factors. Red and White Fleet President Escher sees SF-BREEZE as the start of a revolution in marine transportation.


News Article | October 28, 2016
Site: www.prweb.com

As the City of San Francisco commissions its latest fireboat today, the vessel, designed by Seattle-based Jensen Maritime Consultants, exemplifies the evolution and growth of the naval architecture and marine engineering firm since it was acquired by Crowley Maritime Corp. in 2008. “Eight years ago I’m not sure this project would have been in our sweet spot,” said Johan Sperling, vice president of Crowley’s marine solutions group, which includes Jensen. “But over the past eight years, Crowley has made a considerable effort to give us all the tools we need to expand into new areas. And our team, which has grown from 21 employees in Seattle 2008 to 85 employees today with additional offices in Jacksonville, Houston and New Orleans, is leveraging those resources and collective expertise to perform larger and more complex projects with outstanding outcomes that benefit our customers like the San Francisco Fire Department.” San Francisco’s Fireboat 3, recently named one of the 10 Significant Boats of 2016 by Workboat magazine, is designed and engineered to meet the highest standards for performance and public safety thanks to Jensen’s talented naval architects and engineers and industry-leading, computer-aided design programs, which allow customers to see a vessel in detail before it is built. In addition, Jensen is able to leverage Crowley’s knowledge as a vessel operator to design vessels for clients that are extraordinary to operate. “It’s one thing to be able to design a good looking boat, but if it can’t be built efficiently and cost effectively, and if it doesn’t operate the way it is supposed to, what do you really have?” said Sperling. “We are intensely focused on those three things. Crowley, as a long-time operator of many different types of vessels, gives us unique insights into what works and doesn’t work when it comes to things like a vessel’s layout, systems and seakeeping ability. We’re able to take all of that first-hand knowledge and incorporate it into our designs for customers. It’s a process of always enhancing our expertise and services that never ends.” Prior to being acquired by Crowley, Jensen, founded in 1961, had established a reputation for executing dependable, high performance naval architecture and marine engineering for commercial fishing boats and was beginning to do the same with workboats and passenger vessels. Now, Jensen has built on those well-known services to offer transportation engineering, construction management solutions, and performance engineering services, which ensure designs meet the best standards from concept phase to sailing. An entire vessel can be designed in 3D on a computer, engineered and delivered in a comprehensive product to the shipyard for construction. Using advanced technology, Jensen provides computational fluid dynamics that allows customers to receive highly optimized hull forms by measuring how the sea’s impact on the hull affects performance. For example, Jensen helped deliver the redesign of the fishing vessels Bering Defender in 2012 and Defender in 2016. For the Bering Defender, Jensen teams developed changes to make it safer and more efficient, while increasing capacity. For the Defender, Jensen executed a design to convert the ship from East Coast to West Coast fishing, changes that made the vessel better suited for the operations and weather of her new Alaska fishing assignment. After joining Crowley, Jensen’s expertise also expanded to help spearhead transportation engineering projects such as the Liberty Sealift in 2010. That became a milestone in Jensen’s history because of its complexity as a transportation engineering project, said Sperling. Jensen was part of the team behind the transportation of the huge rig, which weighed 6,234 tons, came in six pieces, and had to be carried on two of Crowley’s heavy-lift deck barges from Vancouver, Wash., to a drilling island east of Prudhoe Bay, Alaska. It was one of the largest pieces of equipment ever constructed for North Slope oil exploration. Another milestone was the company’s successful role in the massive salvage of the Costa Concordia cruise ship off the coast of Italy from 2012 to 2014. Jensen provided project management specialists, designers, engineers and heavy logistics managers. And in 2015, Jensen had a key role in the installation of the Furie Kitchen Lights natural gas production platform and underwater pipeline in Cook Inlet, Alaska. Jensen personnel supported all logistical engineering components of transporting the equipment in environmentally challenging conditions for Crowley Marine Solutions, the prime contractor for the project. Their success has only continued this summer. Faced with meeting a deadline within the short summer of Alaska for a large-scale ocean delivery, Crowley’s marine solutions group, supported by Jensen, successfully transported and delivered a drill rig from Vancouver, Wash., to Prudhoe Bay, Alaska. The knowledge sharing between Jensen and Crowley team members has been very powerful, said Sperling. “Jensen team members have gained experience working in marine operations and vessel construction management,” he said. “By spending time in those endeavors, Jensen is able to provide its customers with better designs that are more efficient to build and operate. In fact, efficiencies are gained from beginning to end.” For example, Sergio Fifi, Jensen’s general manager in New Orleans, spent two years managing vessels in Alaska for Crowley. That experience benefits customers, because he understands the practical needs of vessels operators at sea. He and his colleagues also have a better understand of the classification process and customer needs when dealing with the American Bureau of Shipping. “For our customers, they avoid baked-in problems running from the design process to the shipyard,” said Fifi. “Crowley’s successful operation of more than 200 diverse vessels provides us a deeper understanding to tie the design to the performance of the ship. For me and others in our organization, our experience in vessel operations and management provide practical knowledge to make the construction process and regulatory approvals the most efficient in the marketplace.” Recently, Jensen became part of Crowley’s marine solutions group to further enhance the overall company’s multitude of engineering services and contractor capabilities. Jonathan Parrott, director, new design development, has seen Jensen’s capabilities grow from a small firm that handled mainly fishing boats in 1979, then to tugs, ferries and high speed vessels, and finally to a business that drives innovation in public safety, transportation engineering and other sectors. “There are very few companies that provide the full range of service that we do,” said Parrott. “The capability of people in Jensen to go into different types of projects provides a one-stop solutions for customers. And it is hard to name anyone else who has developed and innovated in the successful way that Jensen and Crowley’s marine solutions group has done.” About Jensen Maritime Seattle-based Jensen Maritime Consultants Inc. is a naval architecture and marine engineering firm owned by Crowley Maritime Corporation. The company offers a diverse range of consulting, design and engineering services developed from more than 50 years of experience working around the world. Jensen is a recognized leader in the design of all types of vessels and has built a favorable reputation on a long history of successful designs and conversions with close attention to engineering basics. The company's services include detail and conceptual design and engineering, vessel modifications, lofting, regulatory and shipyard liaison as well as on-site consulting services and on-location assistance anywhere in the world. Additional information about Jensen can be found at jensenmaritime.com. For more information about Jensen’s 124-year old parent company, Crowley, please visit crowley.com.


News Article | December 1, 2016
Site: www.rechargenews.com

Japanese classification body ClassNK has anointed US floating wind pioneer Principle Power’s WindFloat design for use as part of a 5MW demonstrator unit off the coast of the south east Asian nation. Engineering work that underwrote the Approval in Principle (AiP) was carried out under contract with Mitsui Engineering and Shipbuilding for a feasibility study for the Japanese government’s New Energy and Industrial Technology Development Organisation (Nedo). The AIP means the WindFloat foundation is “conceptually feasible” in line with Japanese design and regulatory standards, and that “risks have been properly analysed and that ClassNK is satisfied that the engineering for the foundation is suitable for deployment in the offshore environment”. “This issuance from ClassNK, added to Approvals in Principle already received from the American Bureau of Shipping (ABS) and Bureau Veritas (BV), proves the versatility of the WindFloat design process in adapting to various regulatory standards and local requirements,” says Principle Power chief technology officer Dominique Roddier. Principle Power now has AiPs for projects off the coasts of the US, Portugal, France and Japan, each of which features a different model turbine, regionally distinct environmental conditions and standalone regulatory regimes. Principle Power chief executive João Metelo adds:  “We are quite pleased to receive this AiP from ClassNK.  Along with the other approvals we have received from global classification societies, it serves as an indication how far the WindFloat has come and the broad acceptance it has achieved. “These approvals are a key demonstration of our progress towards full WindFloat commercialisation.” The ClassNK AiP is the latest stride forward for the WindFloat concept, a three-column steel semi-submersible foundation engineered for stability with "water-entrapment plates" at the base of each column and moored with chains to the seabed. Earlier this week, Portugal’s Council of Ministers gave the green-light to the 25MW Windfloat Atlantic project – being developed with next-generation WindFloat platforms off the country’s northern coast by WindPlus, a consortium made up of EDP Renováveis, Mitsubishi subsidiary Diamond Generating Europe, Chiyoda, Engie and Repsol for switch-on in late-2018. “This is indeed an important milestone for the project. We are now expecting the project to be fully licensed by the end of the year,” WindPlus general manager Carlos Martin Rivals tells Recharge. “We will then engage into final negotiations with project suppliers, we will conduct a due diligence for the project financing, with a target to  financial close by middle 2017.” Windfloat platforms are also to be used for a 24MW pilot project being developed by Engie, EDP Renewables, Caisse des Dépôts and Eiffage in the French Mediterranean, one of several demonstrators given the go-ahead by the French government to advance the sector in Europe.


News Article | November 30, 2016
Site: globenewswire.com

Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA (Oslo: PHLY), today delivered the American Endurance, the first of four next generation 50,000 dwt product tankers that it is building for American Petroleum Tankers (APT), a subsidiary of Kinder Morgan, Inc. This delivery is the 25th vessel built by PSI (formerly known as Aker Philadelphia Shipyard, Inc.). The next generation 50,000 dwt product tanker is based on a proven Hyundai Mipo Dockyards (HMD) design that also incorporates numerous fuel efficiency features, flexible cargo capability, and the latest regulatory requirements. The vessel has also received LNG Ready Level 1 approval from the American Bureau of Shipping (ABS). The 600-foot tanker has a carrying capacity of 14.5 million gallons of crude oil or refined products. "Today's delivery of our 25th vessel, aptly named the American Endurance, is a profound symbol of the shipbuilding legacy we have continued since re-opening in 1997. In collaboration with American Petroleum Tankers, we are proud of our contributions to renew the current tanker fleet with a more modern and environmentally friendly design.  This vessel, like all others, was built from the hands and hearts of 1,200 shipbuilders for future crew to operate safely and with the quality expected." The shipyard has commenced construction of three other 50,000 dwt tankers for APT and two 3,600 TEU containerships for Matson Navigation Company, Inc.  For more information on Philly Shipyard transactions and projects, please visit www.phillyshipyard.com. Philly Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market.  It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships. Philly Shipyard is listed on the Oslo Stock Exchange and is majority-owned by Aker Capital II, which in turn is majority-owned by Aker ASA. Aker is a Norwegian industrial investment company that creates value through active ownership. Aker's investment portfolio is concentrated on key Norwegian industries that are international in scope: oil and gas, fisheries and biotechnology, and marine assets. Aker's industrial holdings comprise ownership interests in Aker Solutions, Kvaerner, Det norske oljeselskap, Aker BioMarine, Ocean Yield, Havfisk and Akastor. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


News Article | November 10, 2016
Site: globenewswire.com

Dean Taylor to Serve as Interim President and CEO HOUSTON, Nov. 10, 2016 (GLOBE NEWSWIRE) -- The Board of Directors of Paragon Offshore plc (“Paragon” or the “company”) (OTC:PGNPQ) announced that, effective immediately, it has appointed Dean E. Taylor, a director of the company since its founding in 2014, to serve as interim President and Chief Executive Officer. Additionally, the Board has named Lee M. Ahlstrom, currently the company’s Senior Vice President of Investor Relations, Strategy, and Planning, as interim Chief Financial Officer. Mr. Taylor and Mr. Ahlstrom succeed Randall D. Stilley and Steven A. Manz, who are no longer with the company. In addition, Mr. Stilley is no longer a member of the Paragon Board of Directors. J. Robinson West, Chairman of the Board, stated, “We are fortunate to have a deep bench of talent, and thank Mr. Taylor and Mr. Ahlstrom for taking on these important responsibilities.  The Board will work closely with them and our advisors in bringing the company’s ongoing restructuring efforts to a successful conclusion.” Mr. Taylor has served as a member of Paragon’s Board of Directors and as the chairperson of Paragon’s Nominating and Corporate Governance Committee since its founding in 2014.  He previously served in a variety of roles at Tidewater Inc. from 1978 through 2012, including Chief Executive Officer and Chairman of the Board.  Tidewater, Inc. is a global provider of offshore service vessels to the energy industry.  Mr. Taylor also serves on the board of directors of the American Bureau of Shipping and has previously served on the boards of Trican Well Service Ltd. and Whitney Holding Corporation. Lee M. Ahlstrom has served as Senior Vice President of Investor Relations, Strategy and Planning of Paragon since its founding in 2014. Mr. Ahlstrom has more than 20 years of experience in the oil and gas industry. Prior to his role at Paragon, he served as Senior Vice President – Strategic Development and Vice President of Investor Relations and Planning of Noble Corporation. Prior to joining Noble, Mr. Ahlstrom held various management positions at UNOCAL Corporation and was an Engagement Manager with McKinsey & Company. Mr. Ahlstrom began his career with Exxon, where he held a variety of surface and subsurface engineering positions.  Mr. Ahlstrom serves on the board of directors for the National Investor Relations Institute (NIRI) and holds NIRI’s Investor Relations Charter (IRC™) credential. Paragon is a global provider of offshore drilling rigs.  Paragon’s operated fleet includes 34 jackups, including two high specification heavy duty/harsh environment jackups, four drillships and two semisubmersibles. Paragon’s primary business is contracting its rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a dayrate basis around the world. Paragon’s principal executive offices are located in Houston, Texas. Paragon is a public limited company registered in England and Wales with company number 08814042 and registered office at 20-22 Bedford Row, London, WC1R 4JS, England. Additional information is available at www.paragonoffshore.com.


News Article | November 10, 2016
Site: globenewswire.com

Dean Taylor to Serve as Interim President and CEO HOUSTON, Nov. 10, 2016 (GLOBE NEWSWIRE) -- The Board of Directors of Paragon Offshore plc (“Paragon” or the “company”) (OTC:PGNPQ) announced that, effective immediately, it has appointed Dean E. Taylor, a director of the company since its founding in 2014, to serve as interim President and Chief Executive Officer. Additionally, the Board has named Lee M. Ahlstrom, currently the company’s Senior Vice President of Investor Relations, Strategy, and Planning, as interim Chief Financial Officer. Mr. Taylor and Mr. Ahlstrom succeed Randall D. Stilley and Steven A. Manz, who are no longer with the company. In addition, Mr. Stilley is no longer a member of the Paragon Board of Directors. J. Robinson West, Chairman of the Board, stated, “We are fortunate to have a deep bench of talent, and thank Mr. Taylor and Mr. Ahlstrom for taking on these important responsibilities.  The Board will work closely with them and our advisors in bringing the company’s ongoing restructuring efforts to a successful conclusion.” Mr. Taylor has served as a member of Paragon’s Board of Directors and as the chairperson of Paragon’s Nominating and Corporate Governance Committee since its founding in 2014.  He previously served in a variety of roles at Tidewater Inc. from 1978 through 2012, including Chief Executive Officer and Chairman of the Board.  Tidewater, Inc. is a global provider of offshore service vessels to the energy industry.  Mr. Taylor also serves on the board of directors of the American Bureau of Shipping and has previously served on the boards of Trican Well Service Ltd. and Whitney Holding Corporation. Lee M. Ahlstrom has served as Senior Vice President of Investor Relations, Strategy and Planning of Paragon since its founding in 2014. Mr. Ahlstrom has more than 20 years of experience in the oil and gas industry. Prior to his role at Paragon, he served as Senior Vice President – Strategic Development and Vice President of Investor Relations and Planning of Noble Corporation. Prior to joining Noble, Mr. Ahlstrom held various management positions at UNOCAL Corporation and was an Engagement Manager with McKinsey & Company. Mr. Ahlstrom began his career with Exxon, where he held a variety of surface and subsurface engineering positions.  Mr. Ahlstrom serves on the board of directors for the National Investor Relations Institute (NIRI) and holds NIRI’s Investor Relations Charter (IRC™) credential. Paragon is a global provider of offshore drilling rigs.  Paragon’s operated fleet includes 34 jackups, including two high specification heavy duty/harsh environment jackups, four drillships and two semisubmersibles. Paragon’s primary business is contracting its rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a dayrate basis around the world. Paragon’s principal executive offices are located in Houston, Texas. Paragon is a public limited company registered in England and Wales with company number 08814042 and registered office at 20-22 Bedford Row, London, WC1R 4JS, England. Additional information is available at www.paragonoffshore.com.


News Article | November 10, 2016
Site: globenewswire.com

Dean Taylor to Serve as Interim President and CEO HOUSTON, Nov. 10, 2016 (GLOBE NEWSWIRE) -- The Board of Directors of Paragon Offshore plc (“Paragon” or the “company”) (OTC:PGNPQ) announced that, effective immediately, it has appointed Dean E. Taylor, a director of the company since its founding in 2014, to serve as interim President and Chief Executive Officer. Additionally, the Board has named Lee M. Ahlstrom, currently the company’s Senior Vice President of Investor Relations, Strategy, and Planning, as interim Chief Financial Officer. Mr. Taylor and Mr. Ahlstrom succeed Randall D. Stilley and Steven A. Manz, who are no longer with the company. In addition, Mr. Stilley is no longer a member of the Paragon Board of Directors. J. Robinson West, Chairman of the Board, stated, “We are fortunate to have a deep bench of talent, and thank Mr. Taylor and Mr. Ahlstrom for taking on these important responsibilities.  The Board will work closely with them and our advisors in bringing the company’s ongoing restructuring efforts to a successful conclusion.” Mr. Taylor has served as a member of Paragon’s Board of Directors and as the chairperson of Paragon’s Nominating and Corporate Governance Committee since its founding in 2014.  He previously served in a variety of roles at Tidewater Inc. from 1978 through 2012, including Chief Executive Officer and Chairman of the Board.  Tidewater, Inc. is a global provider of offshore service vessels to the energy industry.  Mr. Taylor also serves on the board of directors of the American Bureau of Shipping and has previously served on the boards of Trican Well Service Ltd. and Whitney Holding Corporation. Lee M. Ahlstrom has served as Senior Vice President of Investor Relations, Strategy and Planning of Paragon since its founding in 2014. Mr. Ahlstrom has more than 20 years of experience in the oil and gas industry. Prior to his role at Paragon, he served as Senior Vice President – Strategic Development and Vice President of Investor Relations and Planning of Noble Corporation. Prior to joining Noble, Mr. Ahlstrom held various management positions at UNOCAL Corporation and was an Engagement Manager with McKinsey & Company. Mr. Ahlstrom began his career with Exxon, where he held a variety of surface and subsurface engineering positions.  Mr. Ahlstrom serves on the board of directors for the National Investor Relations Institute (NIRI) and holds NIRI’s Investor Relations Charter (IRC™) credential. Paragon is a global provider of offshore drilling rigs.  Paragon’s operated fleet includes 34 jackups, including two high specification heavy duty/harsh environment jackups, four drillships and two semisubmersibles. Paragon’s primary business is contracting its rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a dayrate basis around the world. Paragon’s principal executive offices are located in Houston, Texas. Paragon is a public limited company registered in England and Wales with company number 08814042 and registered office at 20-22 Bedford Row, London, WC1R 4JS, England. Additional information is available at www.paragonoffshore.com.


News Article | November 10, 2016
Site: globenewswire.com

Dean Taylor to Serve as Interim President and CEO HOUSTON, Nov. 10, 2016 (GLOBE NEWSWIRE) -- The Board of Directors of Paragon Offshore plc (“Paragon” or the “company”) (OTC:PGNPQ) announced that, effective immediately, it has appointed Dean E. Taylor, a director of the company since its founding in 2014, to serve as interim President and Chief Executive Officer. Additionally, the Board has named Lee M. Ahlstrom, currently the company’s Senior Vice President of Investor Relations, Strategy, and Planning, as interim Chief Financial Officer. Mr. Taylor and Mr. Ahlstrom succeed Randall D. Stilley and Steven A. Manz, who are no longer with the company. In addition, Mr. Stilley is no longer a member of the Paragon Board of Directors. J. Robinson West, Chairman of the Board, stated, “We are fortunate to have a deep bench of talent, and thank Mr. Taylor and Mr. Ahlstrom for taking on these important responsibilities.  The Board will work closely with them and our advisors in bringing the company’s ongoing restructuring efforts to a successful conclusion.” Mr. Taylor has served as a member of Paragon’s Board of Directors and as the chairperson of Paragon’s Nominating and Corporate Governance Committee since its founding in 2014.  He previously served in a variety of roles at Tidewater Inc. from 1978 through 2012, including Chief Executive Officer and Chairman of the Board.  Tidewater, Inc. is a global provider of offshore service vessels to the energy industry.  Mr. Taylor also serves on the board of directors of the American Bureau of Shipping and has previously served on the boards of Trican Well Service Ltd. and Whitney Holding Corporation. Lee M. Ahlstrom has served as Senior Vice President of Investor Relations, Strategy and Planning of Paragon since its founding in 2014. Mr. Ahlstrom has more than 20 years of experience in the oil and gas industry. Prior to his role at Paragon, he served as Senior Vice President – Strategic Development and Vice President of Investor Relations and Planning of Noble Corporation. Prior to joining Noble, Mr. Ahlstrom held various management positions at UNOCAL Corporation and was an Engagement Manager with McKinsey & Company. Mr. Ahlstrom began his career with Exxon, where he held a variety of surface and subsurface engineering positions.  Mr. Ahlstrom serves on the board of directors for the National Investor Relations Institute (NIRI) and holds NIRI’s Investor Relations Charter (IRC™) credential. Paragon is a global provider of offshore drilling rigs.  Paragon’s operated fleet includes 34 jackups, including two high specification heavy duty/harsh environment jackups, four drillships and two semisubmersibles. Paragon’s primary business is contracting its rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a dayrate basis around the world. Paragon’s principal executive offices are located in Houston, Texas. Paragon is a public limited company registered in England and Wales with company number 08814042 and registered office at 20-22 Bedford Row, London, WC1R 4JS, England. Additional information is available at www.paragonoffshore.com.


News Article | March 4, 2016
Site: news.mit.edu

Sailing history is rife with tales of monster-sized rogue waves — huge, towering walls of water that seemingly rise up from nothing to dwarf, then deluge, vessel and crew. Rogue waves can measure eight times higher than the surrounding seas and can strike in otherwise calm waters, with virtually no warning. Now a prediction tool developed by MIT engineers may give sailors a 2-3 minute warning of an incoming rogue wave, providing them with enough time to shut down essential operations on a ship or offshore platform. The tool, in the form of an algorithm, sifts through data from surrounding waves to spot clusters of waves that may develop into a rogue wave. Depending on a wave group’s length and height, the algorithm computes a probability that the group will turn into a rogue wave within the next few minutes. “It’s precise in the sense that it’s telling us very accurately the location and the time that this rare event will happen,” says Themis Sapsis, the American Bureau of Shipping Career Development Assistant Professor of Mechanical Engineering at MIT. “We have a range of possibilities, and we can say that this will be a dangerous wave, and you’d better do something. That’s really all you need.” Sapsis and former postdoc Will Cousins have published their results this week in the Journal of Fluid Mechanics. Like many complex systems, the open ocean can be represented as a chaotic mix of constantly changing data points. To understand and predict rare events such as rogue waves, scientists have typically taken a leave-no-wave-behind approach, in which they try to simulate every individual wave in a given body of water, to give a high-resolution picture of the sea state, as well as any suspicious, rogue-like activity. This extremely detailed approach is also computationally expensive, as it requires a cluster of computers to solve equations for each and every wave, and their interactions with surrounding waves. “It’s accurate, but it’s extremely slow — you cannot run these computations on your laptop,” Sapsis says. “There’s no way to predict rogue waves practically. That’s the gap we’re trying to address.” Sapsis and Cousins devised a much simpler, faster way to predict rogue waves, given data on the surrounding wave field. In previous work, the team identified one mechanism by which rogue waves form in unidirectional wave fields. They observed that, while the open ocean consists of many waves, most of which move independently of each other, some waves cluster together in a single wave group, rolling through the ocean together. Certain wave groups, they found, end up “focusing” or exchanging energy in a way that eventually leads to an extreme rogue wave. “These waves really talk to each other,” Sapsis says. “They interact and exchange energy. It’s not just bad luck. It’s the dynamics that create this phenomenon.” In their current work, the researchers sought to identify precursors, or patterns in those wave groups that ultimately end up as rogue waves. To do this, they combined ocean wave data available from measurements taken by ocean buoys, with nonlinear analysis of the underlying water wave equations. Sapsis and Cousins used the statistical data to quantify the range of wave possibilities, for a given body of water. They then developed a novel approach to analyze the nonlinear dynamics of the system and predict which wave groups will evolve into extreme rogue waves. They were able to predict which groups turned rogue, based on two parameters: a wave group’s length and height. The combination of statistics and dynamics helped the team identify the length-scale of a critical wave group, which has the highest likelihood of evolving into a rogue wave. Using this, the team derived a simple algorithm to predict a rogue wave based on incoming data. By tracking the energy of the surrounding wave field over this length-scale, they could immediately calculate the probability of a rogue wave developing. “Using data and equations, we’ve determined for any given sea state the wave groups that can evolve into rogue waves,” Sapsis says. “Of those, we only observe the ones with the highest probability of turning into a rare event. That’s extremely efficient to do.” Sapsis says the team’s algorithm is able to predict rogue waves several minutes before they fully develop. To put the algorithm into practice, he says ships and offshore platforms will have to utilize high-resolution scanning technologies such as LIDAR and radar to measure the surrounding waves. “If we know the wave field, we can identify immediately what would be the critical length scale that one has to observe, and then identify spatial regions with high probability for a rare event,” Sapsis says. “If you are performing operations on an aircraft carrier or offshore platform, this is extremely important.” “The approach is original — it is fast, easy to implement, and it does not require computational power,” says Miguel Onorato, professor of physics at the University of Turin, who was not involved in the research. “Tests in wave basins and field measurements data are needed in order to establish reliability of the tool in realistic conditions.” This research was supported in part by the Office of Naval Research, the Army Research Office, and the American Bureau of Shipping.


News Article | December 20, 2016
Site: www.businesswire.com

TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that Samuel H. Norton will become president and CEO of OSG on December 29, 2016. Mr. Norton will succeed Ian T. Blackley, current president and CEO, who will retire from the role of president, CEO and director of OSG as of December 29, 2016. Mr. Norton is an accomplished leader with over 25 years of experience in the technical, operational, and commercial aspects of the shipping business. He has served as SVP of OSG and president and CEO of the U.S. Flag Strategic Business Unit since July 2016, and has served on OSG’s board of directors since August 2014. “We are pleased to have someone of Sam’s caliber assume the leadership of OSG,” said Douglas D. Wheat, OSG’s chairman. “His deep shipping background and track record of building businesses and orchestrating development projects around the world will serve him well as he focuses on the strategic priorities facing OSG today.” “It is an honor and a privilege to lead OSG at this very exciting time,” said Norton. “OSG is a leading U.S Flag shipping company with a trusted operating franchise and proven track record of safe, reliable, and efficient operations. OSG’s leading and diversified portfolio in the Jones Act market and strong financial profile position us to build on the Company’s strengths, address future growth opportunities and drive shareholder value.” In addition, Patrick J. O’Halloran has been appointed to serve as VP and chief operations officer with oversight of all operations, maintenance, SQE and commercial operations for the fleet of the Company. Damon Mote has been appointed to serve as VP and chief administrative officer with oversight of marine labor relations, human resources, and insurance for the Company. “I have every confidence in Patrick and Damon in their enhanced roles, and that they will continue to contribute to our ongoing success,” said Norton. “Both have brought a wealth of experience and knowledge to their roles and have demonstrated their commitment to OSG during their tenure here. We are fortunate to have them expand their responsibilities and expertise to more areas of the organization.” Mr. Norton has served as SVP of OSG and president and CEO of the U.S. Flag Strategic Business Unit since July 2016 and has served on OSG’s board of directors since August 2014. He co-founded in 2006 SeaChange Maritime, LLC, an owner and operator of container ships, and has served as its CEO since its inception. He spent the 17-year period ended July 2005 as a senior executive officer at Tanker Pacific Management (Singapore) Pte. Ltd. In 1995, he initiated and led the entry of the Sammy Ofer Group into the container segment, and acquired and operated the first container vessels in the group’s fleet. While at Tanker Pacific, he also conceived and started a related business, Tanker Pacific Offshore Terminals, which owns and operates a fleet of floating, offshore oil storage terminals. Prior to joining the Ofer group, he played a lead role in the Asian distressed assets group of the First National Bank of Boston, a position which acquainted him with the shipping industry and the Ofer family. He holds a B.A. in Chinese Language and Literature from Dartmouth College where he graduated in 1981. Mr. O’Halloran has served as VP Marine Operations of OSG since December 2014, overseeing all operations and maintenance activities for OSG’s Fleet. Mr. O’Halloran joined the Company in 2002 as Technical Superintendent. He was promoted to Fleet Manager in 2006. Prior to joining the Company, Mr. O’Halloran was a Surveyor for the American Bureau of Shipping for ten years. Mr. O’Halloran holds a Bachelor of Science degree in Mechanical Engineering from State University of New York – Maritime College and a Master’s in Business Administration from the University of South Florida. He sits on the Board of Directors for Alaska Tanker Company and the Chamber of Shipping of America. Mr. Mote served as the VP of Marine Labor Relations since December 2014. This position has overall responsibilities for the crewing, negotiations and management of the Collective Bargaining Agreements, and acts as OSG’s representative on three Union Plans Board of Trustees. He joined OSG in 2004 as Manager, Major Projects and then served as Director, New Construction in 2006. In 2011, he served as the Regional Manager of the Technical Services Group which included responsibilities for engineering, purchasing, and the fleet management software system (ABS Nautical Systems). Prior to joining OSG, he worked for 14 years with Crowley Maritime with the last position held as Engineering Manager. He holds a B.S. in Marine Engineering from California Maritime Academy. Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded tanker company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 24-vessel U.S. Flag fleet consists of eight ATBs, two lightering ATBs, three shuttle tankers, nine MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com. This release contains forward-looking statements. In addition, the Company may make or approve certain statements in future filings with the Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of the Company. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to the Company’s prospects, its ability to retain and effectively integrate new members of management, and the effect of the Company’s spin-off of International Seaways, Inc. Forward-looking statements are based on each of the Company’s current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for OSG and the Registration Statement on Form 10 for International Seaways, Inc. and in similar sections of other filings made by each of these companies with the SEC from time to time. The Company assumes no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Company with the SEC.

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