The castle that needs a royal touch
This suburban castle is located at 2 Lunar Place, Bridgeman DownsThe six bedroom residence has soaring ceilings, imported materials and ornate features, a grand staircase and a palatial floorplan. Hello down there loyal subjects.Inside you are greeted by soaring 20ft ceilings and a stunning two metre imported crystal chandelier encased by a circular butterfly staircase and exquisite Traveston tiles. One thinks this must be the throne roomIn the lobby a double staircase with carved cherry wood balustrades is illuminated by an impressive crystal chandelier. From here you can look out over Westeros, umm, I mean the Sunshine Coast hinterland.The Duke and Duchess of Sussex touched down in Australia this morning ahead of the Invictus Games, and while house hunting may not be on their itinerary, we are sure the king of this castle would be happy to give Harry and Meghan the royal tour. Blingy!There are seven kingsize bedrooms, a Porte Cochre entrance with circular driveway, a pool, sauna, outdoor kitchen, all within the poolside cabana area and billiards room.Finally, if the couple are more in favour of an escape to the country, Mountain Lake Manor at Clear Mountain could be the bee’s knees. And here it is from the backSplit over four levels, there is also enough parking for 12 vehicles. And in Southport, an “inner city country manor” can be located at 2 Charlton Street. Weddings cost a bomb so Ridgewood Castle, and its apartment price tag, might be just what the newlyweds are looking for.Also on the market is The Abbey, a 14 bedroom property being marketed as ‘Australia’s cheapest castle’. A dry moat surrounds this castleIT is no Kensington Palace but this gothic castle is just crying out for the royal touch. And it comes with its own moat. 
Sure its nice but the Duke and Duchess of Sussex have to share Kensington Palace with his brother and sister-in-law, cousins, and other notables. (Photo by Jack Taylor/Getty Images)The Ridgewood castle sits on 3.4 hectares and has its own entrance bridge, soaring archways and even turrets.And it won’t cost the crown jewels. Coooooeeeee!And after a hard day serving your subjects, there is a poolside summerhouse with sauna, spa and outdoor annex adjoining the tennis court, a freestanding golf room, a bar and billiards game room, and a step up bath befitting a regal rump.At Bridgeman Downs, there is 2 Lunar Place — a suburban castle that could be Brisbane’s Buckingham Palace. Ridgewood Palace is on the market for offers over $850,000 making it a greater starter castle for the young royals.It is on the market for offers over $850,000, leaving plenty of gold bullion in reserve for a royal reno. All offers over $2.2 million will be presented to the owners of The Abbey in Warwick — a bargains hen you consider the amount being spent to renovate Buckingham Palace.The three storey sandstone masterpiece has 50 rooms including a chapel, a grand dining room and function rooms.It was designed by the same architect behind the Breakfast Creek Hotel, has stained glass from the Munich Royal Bavarian Art Institute for Stained Glass, who also made glass for the Vatican, a statue designed by Frederic Auguste Bartholdi, who designed the Statue of Liberty, and Wunderlich pressed metal ceilings.More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoThe royal suite is pretty sweet!One could call this home for an offer over $2.2 million.In Gilston, a grand manor on riverfront acreage is on the market at 392 Gilston Road.With the feel of a Spanish castle, the manor is set on five acres and has solid limestone walls, soaring ceilings and expansive living areas.The dining room is more like a banquet hall or culinary cathedral, with its atrium ceiling, water fountain and chandelier. That chandelier probably cost more than your car, seriously!Each room exhibits an individual decor theme using ornate ceiling and wall treatments, decorative panelling and exquisite wallpapers by Designers Guild and Ralph Lauren. Antique mirrors, imported high-gloss tiles and Perrin Rowe tapware are just some of the regal touches. Jaw hits floor …There are seven individually designed bedrooms including a master suite with a raised bed platform, crystal chandelier and an extensive ensuite. That ensuite includes a spa bath, double shower, toilet, bidet and floor to ceiling marble tiles. Outside there is a resort style saltwater infinity edge pool and entertaining pavilion, horse paddocks, a dam, underground water tanks and a designated area for a tennis court.
Ironman Matt Poole loves living on the Gold Coast.NUTRI-GRAIN Ironman Series champion Matt Poole shares his dream home and why he loves living on the Gold Coast. DREAM QUEENSLAND HOME I love the ocean and warm weather, it’s a huge part of my lifestyle.If I was to leave Australia one of my favourite areas to travel is Newport Beach in California. I would love a mega house on the beach there at Newport, perfect for summer parties and always plenty of night-life and action. CURRENT HOME The first home I bought was in Mooloolaba on the Sunshine Coast, it cost $550,000. I had moved to the Sunshine Coast to further my ironman career and compete for Mooloolaba Surf Life Saving Club. This was the best place for me to be for training, plus I loved all the local restaurants and cafes close by. My current house is in Broadbeach Waters on the Gold Coast. After seven years on the Sunshine Coast I moved to the Gold Coast to compete for Kurrawa Surf Life Saving Club. Broadbeach Waters was central to me for all my training facilities and I love the area with Pacific Fair, Star Casino and plenty of great restaurants all close by. More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoMatt Poole at Kurrawa Surf Club. Photo: Richard Gosling. I really love the Gold Coast and can’t see myself moving anytime soon. My dream home would have to be something on beachfront with a really nice clean and modern feel to it.Some of my favourite areas are Broadbeach, Burleigh and Palm beach. FANTASY HOME FIRST HOME
Don’t let a property flip become a flop Ian and Kylie Weir with their son Julius in Indooroopilly, Brisbane. Their home was sold by Martin Hood of Remax Riverside on February 1 for $1.05m. Picture: AAP Image/Claudia Baxter.During January and February, in capital cities, we have fewer auctions than other months because most auction are preceded by four weeks of advertising and open houses.This means March is when auctions start to tell the story of the year and the last couple of weeks have painted a very interesting picture.There has been a real sense of unpredictability in the market. My first significant insight came on March 9 when I stood in front of a large crowd on Griffith Street, New Farm, and sold an incredible riverfront residence under the hammer marking Brisbane’s highest ever residential auction sale $7.75m. A very strong early sign in the Brisbane market. MORE REAL ESTATE NEWS 49 Conifer Street, Alderley, sold under the hammer for $590,000. Agents were Scott Darwon and Robert Freeman of Ray White — New Farm.Then on Saturday March 16, I suited up and headed out to call five auctions — with four out of the five selling under the hammer! 9am — 49 Conifer Street Alderley $590k11am — 4 Strut Street Kedron $900k12 noon — 6 Hollins Cres New Farm $1.95m.1pm — 71 Robe Street Grange $1,000,0013:30pm — 59 Haven Street Pullenvale (passed in) $1.8m Clayfield home to be demolished to make way for ‘monster’ Australia’s cheapest suburb is by the beach
6 Hollins Crescent, New Farm, sold for $1.95m.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours agoThis strong weekend of sales had me intrigued, so I called Mitch Peereboom a fellow auctioneer to hear how his day had played out.He had seven auctions and sold all seven under the hammer!10am — 10 Union Street Clayfield $1.25m11am — 81 Laurel Ave Chelmer $1.25m12 noon — 9 Glen Street Highgate Hill $725k1pm — 20 Vista Circuit Runcorn $660k2pm — 23 Arcoona Street Sunnybank $650k3pm — 18 Beattie Street West End $850k4pm — 7 Jabiru Drive Mango Hill $572k 10 Union St, Clayfield, sold for $1.25m. Agents were Shenal Yigitbas and Dwight Ferguson of Ray White — Ascot. These auctions show strong sales and there is a temptation to jump on the ‘boom’ bus. But you can’t shape the market as thumping simply due to under the hammer sales. What it does show is there are buyers in the market and Brisbane owners were happy to accept their prices — which means the market is moving forward.Next week I will close out March with 20-plus auctions at Ray White New Farms ‘Auction Under the Stars Event’ and it will be another great barometer of how the market is shaping up.It is fair to say that these results, if continued, could see a lift in prices. But to gauge it on a couple of strong weeks could be a little optimistic. *Haesley Cush is a licensed real estate agent and auctioneer, based in Brisbane. He’s been a columnist with News Corp since 2015 and regularly travels Australia and New Zealand working with agents, seeing first hand how the various markets are moving around the country. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58
9 Palm Avenue, Ascot, sold for over $7m.Millionaire home sales are on the rise amid a surge in buyers seeking a better lifestyle during the coronavirus pandemic.While major sales are being notched-up across Brisbane’s prestige suburbs, mid-range properties with extensive amenities and views are also experiencing strong price gains.Agents report that the high-end property market is going gangbusters during COVID-19, with one now dealing with seven buyers who are actively househunting in the $10 million-plus range after missing out on other luxury properties.MORE: Revealed: Stunning next phase for Darius and KaylaLandbankers set to make millions as supply tightensEx-Wallaby’s extraordinary move to help COVID-19 lockdown residentsThe view from 109 Carlton Terrace, Manly, sold for $1.3m.A jawdropping new-build at 9 Palm Avenue, Ascot, sold for more than $7 million earlier this month, after inspections from 50 buyers in that price range, three of whom made offers on the five-bedroom home.Agent Matt Lancashire of Ray White New Farm, who also sold 14 Sutherland Avenue, Ascot, at the start of the pandemic for more than $13 million, with colleague Hamish Bowman, said buyers at the top end were not prepared to wait out COVID-19 to secure their luxury homes.“The depth of the Brisbane market within that price point at the moment is mind-blowing,” he said. “You would have thought people were not buying because of COVID-19, but we have more buyers now than we’ve ever had.“It comes down to people wanting to travel but being restricted for a few years, so people want to upgrade their homes.”Manly has seen a surge in million-dollar sales because of the lifestyle.Place Manly agent Marc Sorrentino works across the bayside suburbs of Wynnum, Manly and Lota, where his sales average $1 million, with demand driven by locals from Brisbane suburbs such as Ascot, Bulimba, Bridgeman Downs and Hawthorne.“With COVID-19 people have re-evaluated their lifestyle and they’re saying well if I am going to be working from home, wouldn’t it be great to look at water views or have seabreezes. It’s booming; a classic case of supply and demand. There’s not a lot of stock but a lot of demand,” he said.SELECTED BAYSIDE SALES:279 The Esplanade, Wynnum: $1.03m109 Carlton Terrace, Manly: $1.3m537 Royal Esplanade, Manly: $1.012m43 Waterloo Esplanade, Wynnum: $1m25 Waterloo Esplanade, Wynnum: $1.925m(Source: Marc Sorrentino, Place Manly)Mr Sorrentino said the demand was highest for blocks of land in seafront suburbs, which are being snapped up for more than $1 million.“I’ve just sold one under contract for $1.95 million and that’s literally a knockdown. Over the COVID-19 period people have been buying waterfront blocks between $1 million and $1.3 million. Typically someone spending $1 million on a block of land will spend $1 million on construction and so these will be $2 million properties.”He said the world had pivoted with more people working from home, with many who can afford to choosing lifestyle over proximity to the city.“Being close to the city is not important. Now it’s the house, the neighbourhood and what that community has to offer,” he said.“Over past couple of months, buyers and sellers have been confused about what COVID-19 means for property prices. What we’ve found is property prices have gone up and our business has nearly doubled in that time.“Where there were once thoughts of doom and gloom for property off COVID-19, the opposite has happened. Where they live is highest on the list of priorities. Because people are spending more time at home, it’s become really important. It’s also a worldwide phenomenon that people are upgrading their houses and making lifestyle choices now.”Leo and Tafline Bandiera with Louis and Bentley at their home in 90 Mountjoy Terrace, Wynnum which is listed for offers over $2.2m. Picture: Tara Croser.Tafline and Leo Bandiera, whose Build Prestige Homes business has seen strong demand, have put their own stunning at 90 Mountjoy Terrace, Wynnum, on the market for offers over $2.2m.“We have been receiving a steady and consistent number of inquiries from people wanting to build new homes and complete large scale renovations. Nothing has really changed for us with the pandemic and work is consistent,” Mrs Bandiera said.“We are very confident in the product we have built and the suitably of this home in this neighbourhood. It is a quality, luxury home that has been custom designed for this lot over three levels to maximise and capture the sweeping views of Moreton Bay and the islands complete with high end, classic, timeless detail. Wynnum/Manly has in the past been undervalued in the property market but it has so much to offer.”This home at 90 Mountjoy Terrace, Wynnum, is on the market for offers above $2.2m.Build Prestige Homes built this home in Wynnum which is on the market.More from newsParks and wildlife the new lust-haves post coronavirus8 hours agoNoosa’s best beachfront penthouse is about to hit the market8 hours ago“We are actually about to start building another house of the same calibre in the next few weeks,” she said. “We have had a number of inquiries to build luxury homes in this neighbourhood and we are currently looking for our next development property in this neighbourhood.”The most common features wanted in luxury homes they build, at a minimum, she said, were classic detailing, traditional glazing bars on the windows, french doors, natural stone tiles and cladding, custom detailed arbour features, external mouldings, interior wall panelling, high raked ceilings, VJ panelling, cobblestones, staircase with timber treads, white risers and substantial newel posts, classic pendant lights and chandeliers, open plan layout, a large kitchen with butler’s pantry, built in cabinetry, fireplaces and smart home integration for voice controlled lighting, reliable security and easy access control.SELECTED CITY SALES:Mirvac’s PIER building, Newstead, $7m plus apartment saleMirvac’s Cutters Landing building, waterfront apartment, $4.81m562 London Rd, Chandler $confidential (Over $3.85m)50 Kingsholme St, Teneriffe $2.7565m57 Double Jump Rd, Redland Bay $2.7m36 Twelfth Ave, St Lucia $2.6m32 Joynt Street Hamilton $confidential54 Retreat St, Bridgeman Downs $2.27m6 Refinery Pde, New Farm $2.05m91 Villiers St, New Farm $1,860,0002/47 Collings St, Balmoral $1,840,00078 Prospect Tce, St Lucia $1,780,000(Source: Christine Rudolph, Ray White New Farm update)FOLLOW SOPHIE FOSTER ON TWITTER
The penthouse takes up the entire northern side of levels 40 and 41 in the Oracle Tower 2.“The new owner plans to do a few minor renovations to the property so by the time the borders open it’s ready to go,” he said.It is the first time the property has been on the market since it was built 10 years ago.“The Oracle is one of the most sought-after and well-known luxury apartment buildings on the Gold Coast,” Mr Stevens said.More from news02:37International architect Desmond Brooks selling luxury beach villa7 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago“This penthouse is extremely sought-after not only due to its size and views but due to its location being in the middle of everything – the trendy shops, cafes and restaurants in Broadbeach.” Soak up the view. Enjoy a bird’s eye view of the Gold Coast. Palm Beach’s cutest cottage sold in 24 hours The penthouse features high-end interiors throughout.The property, first put on the market in December, 2019, has its own private lift, a rooftop heated pool, home cinema area, wraparound balconies and floor to ceiling windows.Property records reveal the overseas-based sellers paid $3.9 million for the residence in 2008.Mr Stevens said the Gold Coast was fast becoming a “beacon of hope and safety” for interstate buyers.“People seem to just want to get out of Sydney and Melbourne ASAP and people are seeing the Gold Coast as a safe place to permanently live or have a holiday home with its open space, the sun, beach, sand and lifestyle,” Mr Stevens said.“This unfortunate pandemic has put a light on how good the Gold Coast really is.” MORE NEWS: Holiday at home in your very own suburban resort The sale went ahead despite the buyers not even stepping foot inside the residence – all the inspections were done via Facetime.“This is now the fifth luxury property deal I have done in the past four to six weeks via Facetime,” said marketing agent Tolemy Stevens, of Harcourts Coastal.“Even though the buyer had multiple Facetime inspections with me and had a personal friend inspect the property for them, the purchasers have not stepped foot into the penthouse.“It’s a continuing testament that shows how strong the appetite from Sydney and Melbourne buyers is to secure luxury homes on the Gold Coast.” Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:31Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:31 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenIs it a good time to list?02:31THE state border is closed but it’s not deterring interstate buyers with a Melbourne family splashing almost $4 million on a trophy penthouse on the Gold Coast.A $3.95 million contract for the two-level trophy penthouse in the Oracle building at Broadbeach went unconditional on Thursday. Luxury at every turn 24001/21 Elizabeth Ave, Broadbeach has sold to a Melbourne buyer. The rooftop pool.
ASV Global is leading a collaborative research project called ‘Autonomous Surface and Sub-surface Survey System’ (ASSSS), which aims to deliver an integrated system for shore-based, full water column marine surveys using multiple unmanned systems. The project, part funded by Innovate UK, hopes to encourage wider adoption of unmanned systems.The project combines the advantages of autonomous underwater vehicles (AUVs) and autonomous surface vehicles (ASVs) to further data gathering opportunities.The ASV follows the AUV in order to provide position updates to improve dead reckoning whilst the AUV provides status updates and basic survey information back to the ASV to be transmitted to shore.The project team involving SeeByte, Sonardyne and the National Oceanography Centre (NOC) are carrying out trials in Loch Ness in the Scottish Highlands this week (14 May 2018).This week’s trials are building upon the capability demonstrated in two previous trials in 2017.The initial trial in May 2017 saw the C-Worker 5 ASV successfully communicate with, and track, the ALR over a 6 day period. Sonardyne provided a comprehensive suite of underwater positioning, communications and imaging technology for the Autosub Long Range (ALR) AUV developed by NOC.Trials in September 2017 took place in Plymouth over 13 days and included night-time operations. These trials focused on gathering solstice side scan data for sea floor mapping using the ALR and transmitting real-time snippets of the data containing interesting features back to the ASV using the BlueComm 200 underwater optical communications system.The follow and search behaviours executed by the C-Worker 5 could be configured to follow the target at an offset to the course and can also be configured to respond to different target sources such as an automatic identification system (AIS) which was also seen in this set of trials.Other successes during this demo included the launch and recovery of the ASV and AUV from a 6T SWL hydraulic crane on MTS Terramare, a 26m converted landing craft. This helped to prove the application and capability of the ASSSS system for smaller survey operations.The main objective of this project is to accelerate the wider adoption of unmanned systems and enable long term, low-cost survey and monitoring operations for offshore energy applications, deep sea mining prospecting and Carbon Capture and Storage (CCS) monitoring.There will also be a consequential reduction in the need to place humans in dangerous environments and a greater acceptability of unmanned systems by operators and regulators. Adoption of the technology is likely to spawn opportunities in adjacent market sectors and facilitate cross domain technology transfer.Source: ASV
The United States Coast Guard (USCG) has suspended the search for a passenger who reportedly fell overboard from the Carnival Paradise cruise ship.The man went missing about 85 miles west of Fort Myers, Florida, on May 22.The passenger has been identified as the 50-year-old Brian Lamonds of Greensboro, N.C.“I have been in contact with members of Mr. Lamonds’ family throughout our search efforts and know this is a very difficult and painful time for them,” Cmdr. David Aldous, search and rescue mission coordinator for the Coast Guard 7th District, said.“Suspending a search is one of the most difficult decisions we have to make as first responders, and it is never made lightly,” he added.Coast Guard rescue crews were composed of a C-130 Hercules aircraft and an MH-60 Jayhawk helicopter from Air Station Clearwater, an HC-144 Ocean Sentry aircraft crew from Air Station Miami, and the crew of the Coast Guard Cutter Isaac Mayo, homeported in Key West.Crews searched for approximately 55 hours covering 3,059 square miles.The 70,367-ton ship was transiting from Tampa to Key West when the incident took place.Carnival Paradise, operated by Carnival Cruise Line, resumed its voyage to Cozumel, Mexico and is currently in the Gulf of Honduras, according to the ship’s AIS data from MarineTraffic.
Danish shipping giant Maersk Line is expanding its presence between Europe’s Mediterranean region and Canada to cater for the growing demands on both sides of the Atlantic.The company is introducing a new weekly service that will be a five-vessel rotation stopping in Salerno and La Spezia (Italy), Fos-sur-Mer (France), Algeciras (Spain), Montreal and Halifax (Canada), and Valencia (Spain).The fully Maersk Line-operated service — the Mediterranean-Montreal Express — will have its first sailing on July 2, departing from Salerno and arriving in Montreal on July 19.Other Mediterranean markets will also be connected to the new service through the company’s integrated transshipment services in Algeciras and Valencia, with products to/from the Middle East, Africa, and Asia, according to the company.“With one agreement in effect to fuel Canadian imports and exports in the Atlantic and another one in the works for the Pacific, this represents only favourable wind behind the expansion of our services in Canada and enable our customers to reach new markets in Europe and Asia,” Jack Mahoney, President of Maersk Line Canada, said.The new service will call Montreal’s Cast terminal, operated by MGT, which is located closest to the ocean and offers easy access to rail and trucking options.In addition, the service will make an Eastbound call in Halifax, Nova Scotia, catering for an important Canadian perishable market and facilitating refrigerated shipments of foodstuff traditionally exported from Canadian Maritime Provinces.In a separate announcement, Hamburg Süd, part of Maersk, informed it is revising the sequence of ports in its EMCS service between Mexico, Central America, the Caribbean and North Europe.Beginning in June, weekly calls will be made at the following ports as part of the EMCS service: Puerto Moin (Costa Rica), Cork (Ireland), Tilbury (UK), Antwerp (Belgium), Bremerhaven (Germany), Altamira and Veracruz (Mexico), Port of Big Creek (Belize) and Manzanillo (Panama).
Offshore Energy Today Staff Dubai-based shallow-water driller Shelf Drilling is set to get listed on the Oslo stock exchange (Oslo Børs), following an approval given on Tuesday by the stock exchange.Founded in 2012, the company today operates a jack-up rig fleet across the Middle East, Southeast Asia, India, West Africa and the Mediterranean.As for the date of the Oslo listing, the Chief Executive Officer of the Oslo Stock Exchange determines the date of the first day of listing, which is to be no later than 3 August 2018, Oslo Børs said in a statement on Friday.Shelf Drilling revealed its Oslo listing plans earlier this month. The company said it planned to conduct an initial public offering (“IPO”) and a listing of its common shares on the Oslo Stock Exchange.“Subject to receiving the relevant approvals from the Oslo Stock Exchange and favorable equity capital market conditions, the IPO is expected to be launched during June 2018,” the company said early in June.The offshore driller said it would use the net proceeds from the offering to finance the company’s fleet expansion, redemption of all or parts of the company’s preferred shares and for general corporate purposes.“The Company is in discussions with multiple parties for the potential purchase of one or two modern, premium jack-up rigs. These jack-up rigs are generally of comparable designs to one or more of the Company’s existing premium jack-up rigs,” Shelf Drilling said.Shelf Drillings specializes in shallow water offshore drilling, providing of equipment and services for the drilling, completion, and workover of offshore oil and natural gas wells.The company then said it would make further announcements relating to the IPO “in due course.”
The merger between offshore vessel specialists Tidewater and Gulfmark will create the world’s largest OSV fleet owner, with the second-ranked highest valued OSV fleet.Image source: TidewaterThis is according to VesselsValue, a website providing global vessel and rig fleet valuations, who also used to opportunity to share the list of the top five OSV owners by the fleet size and the fleet value, with Tidewater second only to Edison Chouest by the fleet value.Commenting on the merger, VesselsValue’s Head of Offshore, Charlie Hockless said he was quite surprised when the news broke, as both companies had effectively tackled the downturn by successfully restructuring, and survival seemed to be a formality for Tidewater and Gulfmark.“Now that the merger is complete, I can certainly see the advantages. New Tidewater will be the largest OSV owner on the planet by the sheer number of OSVs owned.“However, the new combined fleet closes the gap between Tidewater and Edison Chouest Offshore, which remains in the pole position by fleet value. If this downturn has taught us anything, big companies survive. The new Tidewater will be a dominant player for years to come.”Tidewater itself on Monday said the combined company would have the industry’s largest fleet and the broadest global operating footprint in the OSV sector.The combined company will own/operate 102 Tier 1 vessels, of which 20 are currently stacked, with an average age of approximately 6 1/2 years. Reactivation of a combined 20 currently idle Tier 1 vessels, is estimated to generate additional annual vessel operating margin of $32 million.Tier 1 vessels include PSVs ≤ 10 years old, DP2 and with a clear deck area of ≥ 700 m2; and AHTSs ≤ 10 years old, DP2 and with bollard pull of ≥ 80t.Related:
