Daily Archives: October 4, 2019

The big shareholder groups in BW Offshore Limited (OB:BWO) have power over the company. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. We also tend to see lower insider ownership in companies that were previously publicly owned.

With a market capitalization of kr11b, BW Offshore is a decent size, so it is probably on the radar of institutional investors. In the chart below below, we can see that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about BWO.

Check out our latest analysis for BW Offshore

OB:BWO Ownership Summary, October 4th 2019

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors own 34% of BW Offshore. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of BW Offshore, (below). Of course, keep in mind that there are other factors to consider, too.

OB:BWO Income Statement, October 4th 2019

We note that hedge funds don't have a meaningful investment in BW Offshore. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

The definition of company insiders can be subjective, and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Shareholders would probably be interested to learn that insiders own shares in BW Offshore Limited. It is a pretty big company, so it is generally a positive to see some potentially meaningful alignment. In this case, they own around kr150m worth of shares (at current prices). Most would say this shows alignment of interests between shareholders and the board. Still, it might be worth checking if those insiders have been selling.

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The general public, with a 14% stake in the company, will not easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.

We can see that Private Companies own 51%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company.

While it is well worth considering the different groups that own a company, there are other factors that are even more important.

I like to dive deeper into how a company has performed in the past. You can find historic revenue and earnings in this detailed graph.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.

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What Kind Of Investor Owns Most Of BW Offshore Limited (OB:BWO)? - Yahoo Finance

Fenwick Island State Park Eyes Partnership With Offshore Wind Farm Developer; Open House Planned For Wednesday

FENWICK ISLAND A potential partnership between Fenwick Island State Park and an offshore wind energy developer could bring new amenities to the beach.On Wednesday, Oct. 2, the Delaware Department of Natural Resources and Environmental Control (DNREC) Division of Parks & Recreation will host a public open house from 5-7 p.m. to share and review Read more

OCEAN CITY Everything is on the table after another intolerable unsanctioned motorized event had the resort community under siege for much of the weekend.For the record, the official H2O International (H2Oi) car show was held in Atlantic City for the second straight year last weekend, but, as expected, a huge contingent of car enthusiasts Read more

ASSATEAGUE A wild horse on Assateague was struck and killed by a park vehicle early Sunday morning, serving as a grim reminder to motorists to obey speed limits and use caution around the islands famed residents.In the predawn hours before first light on Sunday, the chestnut mare N2BHS-ALQ, or Connies Girl, was standing in Read more

OCEAN CITY Representatives from nearly a dozen agencies were recognized this week for their efforts in establishing Worcester Countys first Safe Station.At the beginning of August, the Worcester County Health Department, in partnership with the Ocean City Fire Department, quietly launched its Safe Station program, allowing those with addictions to seek immediate help at Read more

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10/01/2019 | Fenwick Island State Park Eyes Partnership With Offshore Wind Farm Developer; Open House Planned For Wednesday | News Ocean City MD - The...

Drive around middle America and you'll see wind farms of various sizes scattered across the country. One of the most common wind turbines you'll see is a model fromGeneral Electric (NYSE:GE)that's 1.5 megawatts (MW) with a 212-foot tower and 116-foot blades. In total, the wind turbine stands 328 feet, or nearly the length of a football field. But that's now being dwarfed by what GE is installing offshore.

Now, GE is testing a 12 MW wind turbine that dwarfs the most common turbines we see today. And if it works as planned, the Haliade-X 12 MW will power millions of homes from miles off the coast of populated areas.

Image source: GE.

Standing 853 feet tall, with blades that each extend 351 feet, the Haliade-X 12 MW promises to be not only the biggest but also one of the most efficient wind turbines in the world. GE says a single turbine can power 16,000 homes and can operate at a 63% capacity factor, or produce its rated output 63% of the time. That would make it one of the most efficient wind turbines in the world -- well above the approximately 50% capacity factor for most wind turbines and around 20% for solar farms.

One of the advantages the turbine has is that it's designed for offshore markets, where the wind blows more consistently. That allows for higher energy production and lowers the effective cost of electricity from each wind turbine.

The exact cost of turbines isn't being released, but GE says it can generate electricity that's competitive with other power generation sources. And given the traction the product has with developers, they expect it to be cost effective.

The wind power business has been up and down globally depending on subsidies and the will of governments looking to expand energy projection. But wind energy has now reached a tipping point where it's less expensive than fossil fuels and should see consistent demand, especially if wind farms can be located near load centers like coastal cities.

Dominion Energy (NYSE:D), for example, recently announced a plan for 2,600 MW of wind farms off the coast of Virginia by 2026. The company expects 220 wind turbines to be installed, so a 12 MW model is likely what they're expecting to use.

Orsted's 120 MW Skipjack and 1,100 MW Ocean Wind projects off the coast of Maryland and New Jersey will use the Haliade-X. That's a big win in a market niche that GE has only dabbled in up to now.

To date, Siemens Gamesa and MHI Vestas have dominated the offshore wind market, with GE relegated primarily to onshore status. The Haliade-X may change that and give the company a puncher's chance of gaining significant share in offshore wind, where there's still a lot of market potential.

Most of the easy onshore locations near load centers have been developed, so wind's next step is going offshore. The opportunity will be worth tens of billions to the winners, and GE is finally in the game.

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GE Is Betting on the Biggest Offshore Wind Turbine Ever - The Motley Fool

Bauer Spezialtiefbau has tested onshore piles at theSaint-Brieuc offshore wind project in France to gather data for the design of foundations.

Bauer Spezialtiefbaudesigned, installed and tested a total of 14 drilled and grouted pilesat the Routin Quarry near Cap Frhel, Brittany, under a contract signed with project developer Ailes Marines last year.

The aim was to obtain important friction values for the foundation of the planned offshore wind farm, said Paul Scheller, Head of Underwater Foundations at Bauer Spezialtiefbau. This will be the first commercial application for this type of piles worldwide. Bauer has developed a special drilling system for such projects in order to install temporary cased drilled and grouted piles offshore in a variety of different types of subsoil.

The German company said the piles wereinstalled into very hard bedrock, a red sandstone formation which is also expected in parts of the future wind farm area.

Each borehole was measured using laser scanners. The extreme test load of 10MN was applied to the micro piles using a specially developed load distribution system, Bauer said.

The larger piles were stressed with loads up to 40MN using bidirectional internal pile test jacks, while ageo-laser system was used to record the uplift around the test piles, recording the movement every ten seconds.

The biggest challenge was the extremely hard rock. During all three exploratory drilling operations we encountered rock with strengths exceeding 180 MPa, 60 MPa more than originally foreseen. Drilling in such hard rock is extremely demanding, saidNiklas Haag, Project Manager at Bauer Spezialtiefbau.

It took longer than planned to drill the 1350 mm diameter piles took and resulted in excessive wear on the roller bit core barrels that were used. However, in the end Bauer completed the test drilling successfully, thanks to the tireless efforts of the Bauer team on site and the support by our colleagues in Schrobenhausen.

The Saint-Brieuc project will comprise62 Siemens Gamesa 8MW turbines mounted on jacket foundations some 16km off the coast at the nearest point.

Ailes Marines, a joint venture of Iberdrola, RES, and Caisse des Dpts, plans to have the496MW offshore wind farm operational by 2023.

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Bauer Tests Onshore Piles at French Offshore Wind Project - Offshore WIND

Offshore staff

ABERDEEN, UK Shell U.K. and partner Ithaca Energy have committed to the Pierce depressurization project in the UK central North Sea.

The program will allow Shell to start exporting gas from the Pierce field, 160 km (99 mi) east of Aberdeen, and represents the companys eighth new UK offshore project since the start of 2018.

It will involve modifying the FPSO Haewene Brim, owned and operated by Bluewater, which serves on the field; installing a subsea gas export line from the FPSO to the SEGAL pipeline; and drilling of new wells.

The project, which has Oil & Gas Authoritys approval, will take place between 2020 and 2021. Pierce should then produce more than 30,000 boe/d at peak.

Subsea 7 has an EPCI and, transportation and installation contract covering the 30-km (19-mi) export pipeline, gas export riser and associated subsea infrastructure, for tie-ins at the Haewene Brim. Project management and detailed engineering have started in Aberdeen, with offshore activities due to get under way next year.

10/04/2019

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Shell to convert North Sea Pierce production for gas exports - Offshore Oil and Gas Magazine

China Three Gorges (CTG) will build a pioneering combined offshore wind and fish farming development in Chinas Bohai Bay, according to tender documents.

The 300MW Phase 1 Laizhou Bay wind farm will be the first offshore wind project in Shandong province, and the first in the country to set out to demonstrate the benefits of combining offshore wind and aquaculture technology.

Construction of 91 turbines is expected to begin this year and complete by 2021, CTG revealed as it named Shandong Electric Power Engineering Consulting Institute (SDEPCI) as the projects offshore engineering designer.

The 5bn yuan ($700,000) project is among an array of pilot demonstrators planned by Shandong government aiming to unite offshore wind and aqua farming. The northern province a major seafood producer has ambitions to build 13GW of offshore wind eventually but has yet to put up any, partially due to fears of damage to its valuable seafood industry.

The province earlier this year first unveiled plans to deploy aquaculture demonstrators in the Yellow Sea and Bo Sea waters, hoping to pave the way for its offshore ambitions, as Recharge previously reported.

CTG plans to turn the turbines fixed-bottom foundations into micro islands and build six artificial reefs surrounding them to breed oysters, sea cucumbers and several types of fish.

China is in urgent need of wind-and-aquaculture hybrid demonstrators to test the impacts of wind energy on ocean farming, oceanology researcher at the Chinese Academy of Science, Yang Hongsheng, said in a recent article calling for the development of such projects.

Lack of power supply is a key bottleneck for Chinas aquaculture development in the sea, he pointed out, whereas wind developers face the challenge of high building and maintenance costs for offshore turbines. An integrated business model between the two may provide a win-win solution for both industries.

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Three Gorges to build China's first offshore wind and f - Recharge

Hartford Multiple renewable energy ventures recently entered the competitionto provide Connecticut electricity from offshore wind farms.

So far, Connecticut's first selected offshore wind suppliers, rsted and Eversource, will compete with Mayflower Wind, a joint venture between Shell New Energies and EDPR Renewables North America, and Vineyard Wind, a pairing of Copenhagen Infrastructure Partners and Avangrid Renewables.

The auction, following the state's request for proposals in August, stemmed from lawmakers' and Gov. Ned Lamont's push for an injection of up to 2,000 megawatts of electricity from offshore wind by 2030. The competition comes as states along the East Coast are ramping up commitments to offshore wind and renewable energy while targeting significant cuts in greenhouse gas emissions.

rsted and Eversource, already slated to provide Connecticut and Rhode Island a combined 700 megawatts from the Revolution Wind farm south of Martha's Vineyard, announced in a news release Tuesday that they had submitted to state regulators several proposals as part of the Constitution Wind project.

rsted and Eversource said the project would be located 65 miles off the coast of New London and will have the capacity to power up to half a million homes. The project will benefit from more than two years of surveys, studies of wind speed data and ongoing work with stakeholders such as mariners and commercial fishermen, the companies said. The state of New York earlier this year tapped rsted and Eversource to deliver power to Long Island from a wind farm 30 miles east of Montauk Point.

"Since 2015, our team has been focused on bringing affordable, renewable energy to Connecticut, a major opportunity for the state's clean energy future and economy," Thomas Brostrmm, rsted President and CEO, said in a statement. "Following up on the selection of our Revolution Wind project by the state and our investment to turn New London State Pier into a world-class offshore wind center, our proposed Constitution Wind project will be delivered by the industry's leading experts to ensure the project is achievable, sustainable and successful for Connecticut."

rsted and Eversource remain in negotiations with the Connecticut Port Authority and the state to overhaul New London State Pier into a hub for upcoming wind projects along the East Coast. They have pledged to invest almost $60 million into pier upgrades, but some concerns have risen about transparency of the plans, port authority management and potentially displaced businesses.

rsted, a Danish-based offshore wind giant that has divested most of its previous oil and gas business, bought Block Island Wind Farm developer Deepwater Wind for $500 million last year. rsted also bought onshore wind and solar developer Lincoln Clean Energy for almost $600 million last year.

The Department of Energy and Environmental Protection also received bids from Mayflower Wind, a joint venture of U.K.-based Shell New Energies and EDPR Renewables North America, a Texas subsidiary of Spain-based wind and solar firm EDP Renewables. The bids included800- and 400-megawatt proposals. The companies proposed 400- and 800-megwatt projects to the state of Massachusetts last month.

"Governor Lamont has outlined a vision for moving Connecticut toward a clean energy future, and we believe our proposal can play a role in advancing that vision in an affordable manner," said John Hartnett, president of Mayflower Wind. "The state's comprehensive energy strategy calls for deployment of cheaper, cleaner, and more reliable energy resources and that is exactly what we are offering."

According to a news release Tuesday, Shell already has interests in four onshore wind power projects in North America and one offshore wind farm in Europe. EDP Renewables is the world's fourth-largest wind developer.

Vineyard Wind, meanwhile, announced a range of bids starting at 400 megawatts with options to develop wind farms generating 800, 1,000 and 1,200 megawatts. The project, dubbed Park City Wind, would be located south of Martha's Vineyard and rely on the city of Bridgeport for development.

Vineyard Wind is already developing an 800-megawatt wind farm for the state of Massachusetts.

"Vineyard Wind is pleased to submit a dynamic set of project proposals to deliver a reliable source of fixed, low-cost, zero-emission energy to Connecticut ratepayers, while supporting the state's efforts to reduce greenhouse gas emissions," Lars Pedersen, CEO of Vineyard Wind, said in a statement. "Our Park City Wind proposal is much more than an energy project. It's an opportunity for Connecticut to develop a world-class offshore wind industry in Bridgeport and solidify its role as a high value industry hub in the U.S. for years to come."

Proposed electricity rates were not yet made available to the public.

Offshore wind prices have dropped significantly since Deepwater Wind built the Block Island Wind Farm, which delivered power at 24 cents per kilowatt hour in its first year of operation with a 3.5 percent annual escalator built into the contract.

Vineyard Wind's 800-megawatt offshore project recently hit with delays after the federal government called for further environmental review will sell power to three Massachusetts utilities at a fixed rate of 8.4 cents per kilowatt hour, according to EcoRI News.

In Rhode Island, which will receive 400 megawatts from Revolution Wind, National Grid will pay 9.84 cents per kilowatt hour for 20 years.

State-regulated utilities Eversource and United Illuminating will buy electricity produced at Revolution Wind and deliver it to Connecticut consumers, but the proposed price per kilowatt hour which is fixed, unlike the Block Island Wind Farm has not yet been released.

The state Department of Energy and Environmental Protectioncould not bereached to comment about the proposals.

b.kail@theday.com

Editor's Note: This article has been updated to accurately reflect the number of megawatts proposed for the Revolution Wind farm.

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Connecticut offshore wind competition kicks off - News from southeastern Connecticut - theday.com