SSG No 10 - Shipgaz

Offshore market report May
❯
The strong offshore market is keeping
up its strength, with a dynamic spot
market and ample opportunities for longterm
business. So far, the 2007 rate level
has been somewhat below last year’s, but
the maritime offshore industry is keeping
up faith in the market. This is reflected in
the number of new orders; although much
appears now to be driven by Indian and
Far Eastern owners.
Looking at the offshore service industry
in a wider perspective, established and new
contenders continue to raise large amounts
of money, on projects from seismic data
collection to heavylift vessels, crane ships,
production vessels, drilling and accommodation
units. Norwegian-related interests
are said to be behind 58 of the 116 drilling
vessels on order worldwide, with a total
value of NOK 101.7 billion (USD 17 billion),
according to the business daily
“Dagens Næringsliv”.
Far Eastern focus
Several Norwegian supply ship owners have
used the recent boom to extend their activities,
in range as well as geography. Going
from anchorhandlers and platform vessels
into subsea support ships has enabled companies
like Farstad, Rem Offshore and others
to build a broader basis. A good number
of these expensive ships have been fixed for
longer periods in the Gulf of Mexico, West
Africa and other places.
Others are aiming for operations for Far
Eastern waters. Solstad and Nortrans are
joint owners of Nor Offshore in Singapore,
Havila in PACC-Havila with local partners
and Farstad has been working from its Australian
base for many years. PACC-Havila
recently increased its newbuilding program
in China from 6 to 8 smaller ahts.
The recent tie-up between Aker and
DOF in ordering 6+6 12,000 BHP
anchorhandlers from Aker Yards’ new facility
in Vietnam is a major step into the Far
Eastern market.
More contracts
Bourbon Offshore Norway is building four
PX105-type platform vessels at Zhejiang in
China for 2009/10 delivery. Siem Offshore
took another two MPSVs from Kleven for
2010, making it a series of eight mighty
28,000 BHP vessels at USD 90 apiece.
REM Con, an affiliate of REM Offshore,
has ordered two large units for deep-water
construction with 500-ton winch and
accommodation for 70 from Aker Brattvaag
at USD 115 million each.
The Faroese-based Pf Supply Service will
take a second PSV for Havyards, subcontracted
to Fjellstrand for end of 2008 delivery.
Also Solvik Offshore, based in Austevoll,
has declared its option for a second
VS485 PSV from Hellesøy, for delivery in
October 2008.
The German Nordcapital Holding has
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MARKET REPORTS
returned to Aker Yards for two platform vessels
of the UT776CD design at USD 55 million
each, for 2009/10 delivery. This owner
has already six smaller UT755Ls on order.
As for the largest anchorhandlers so far,
the two ordered by Lewek Shipping of Singapore
from compatriot Pan United
Marine must surely rank amongst the
biggest, with engines of 30,000 BHP, of the
UT788CD design. Delivery is set for the
end of 2009 at USD 64 million each.
dag bakka jr
Offshore rate development
GBP 1,000 PSV: ■ 600/700 AHTS: ■ 15,000–16,000 ■ 20,000+
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SCANDINAVIAN SHIPPING GAZETTE • MAY 21, 2007 95
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RECENT NORTH SEA TERM CHARTERS AND EXTENSIONS:
Charterer Vessel Type Operation
Statoil Beta ahts abt 100 days firm+ opt, May 2007
Statoil Toisa Independent psv pipehaul until July 25 + opt
Maersk O&G Edda Frende psv ext 1 year until May 2008
Saipem Highland Champion psv 90 days firm, late April
Shell UK Skandi Foula psv ext 3 years
Shell UK Skandi Rona psv ext 3 years
Peak Northern Chaser ahts 1+1 well support Byford Dolphin
Peak Northern Challenger ahts 1+1 well support Byford Dolphin
Island O&G Maersk Gabarus ahts 3 wells firm + opt, support Petrolia
Team Marine Volstad Viking psv 3 years firm, summer 2007
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RECENT WORLDWIDE FIXTURES:
Charterer Vessel Type Operation
Petrobras Roman ahts 1 year firm, delivery May, Brazil
Petrobras Atrek ahts ext until August 2007, Brazil
British Gas Anchorman ahts 3 years firm, Tunisia
Total Normand Progress mpsv support Moho/Bilondo until July, Congo
Total Normand Mjolne ahts support Moho/Bilondo until July, Congo
ENI Sea Bear ahts 90 days support Celtic Sea, Brazil
ENI Sea Trout psv 3 years, Congo
ENI Sea Angler psv 3 years, Congo
Swiber Holding Sea Wolverine psv 2 years, Far East
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Based on information from R G Hagland Offshore, www.hagland.com