CONSOLIDATION KICKS OFF AGAIN - APRIL 2019 - Seabrokers
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APRIL 2019 CONSOLIDATION KICKS OFF AGAIN
CONTENTS
3 OSV MARKET ROUND-UP ABOUT SEABROKERS GROUP
6 OSV AVAILABILITY, RATES & The Seabrokers Group was established in 1982. We
provide a unique and varied range of services to
UTILISATION - NORTH SEA clients. The Seabrokers Group has an experienced
workforce within Shipbroking, Real Estate, Facili-
7 MONTHLY OSV SPOT RATES - ties Management, Construction, Sea Surveillance,
Harbour Cranes and Safe Lifting Operations.
NORTH SEA Our head office is located in Stavanger, but we
also have offices in Aberdeen, Bergen and Rio de
Janeiro.
8 FEATURE VESSEL
The Seabrokers Group is different – and we are
9 OSV NEWBUILDINGS, CONVERSIONS, proud of this fact. Our information, experience and
knowledge provide us with the ability to perform
SALE & PURCHASE in our diverse business areas.
11 SUBSEA Seabrokers Chartering AS and Seabrokers Ltd are
certified by DNV GL in line with Management
System Standard ISO 9001:2015.
14 RENEWABLES
15 RIGS
16 CONUNDRUM CORNER
& DUTY PHONES
SHIPBROKING REAL ESTATE
SECURALIFT FACILITY MANAGEMENT
Production and Administration:
Seabrokers Ltd, Aberdeen SEA SURVEILLANCE FOUNDATIONS
For your free copy of
Seabreeze, email: YACHTING HARBOUR CRANES
chartering@seabrokers.co.uk
The Seabreeze Monthly Market Report OUR OFFICES:
is distributed worldwide through STAVANGER BERGEN SKIEN
our offices in Aberdeen, Stavanger and
ABERDEEN RIO DE JANEIRO
Rio de Janeiro.
© Seabrokers Group 2019 www.seabrokers-group.com
OSV MARKET ROUND-UP
PSV OWNERS WITH CONSOLIDATION KICKS OFF AGAIN
FEET ON THE GAS With many oil & gas companies portfolio by strengthening its
generating larger profits now position in the Permian Basin
It would be fair to say that the than they were when oil prices shale market, building on its
North Sea PSV market was were north of USD 100 per deepwater US Gulf capabilities,
firmly in the favour of charterers barrel, the time appears right and growing its LNG business
through the market downturn, for further consolidation in the via the acquisition of Anadarko’s
with vessel day rates falling to industry. Two significant deals world-class resources offshore
unsustainable levels through were announced in April, with Mozambique.
2016 and 2017. ConocoPhillips agreeing to sell
its exploration & production However, Occidental has since
However, the balance of power assets in the United Kingdom to tried to scupper that deal by
has been shifting over the last Chrysaor and Chevron making submitting an enhanced offer for
12-18 months and term fixture a move to acquire all of the Anadarko at USD 76 per share.
rates have risen rapidly through outstanding shares in Anadarko,
the first four months of 2019, although Occidental Petroleum Meanwhile, the North Sea
particularly for the larger PSVs has since submitted a rival offer agreement will see Chrysaor
in the market. for Anadarko. acquire two ConocoPhillips UK
subsidiaries for USD 2.675 billion
Taking the UK sector as an Anadarko’s original agreement plus interest and customary
example, almost every term with Chevron would entail adjustments. Together, the two
fixture from 2015 through 2017 a stock and cash transaction subsidiaries indirectly hold
was fixed with a day rate of GBP valued at USD 33 billion, or USD ConocoPhillips’ E&P assets in
5,000-7,000 (USD 6,450-9,050). 65 per share. Chevron made this the UK as well as the associated
There was virtually no rate move to enhance its upstream decommissioning liabilities.
differentiation regardless of
the contract duration or vessel
specification. HYBRID CONVERSIONS FOR HARVEY GULF
However, recent tenders for Harvey Gulf International The battery capacity will be
multi-year contract opportunities Marine has made the decision sufficient for the Harvey Energy
in the UK sector have been to upgrade the US Gulf’s first to sail in and out of port using
fetching offers in the range of LNG-fuelled PSV to also be the electric power, and to provide
GBP 8,000-16,000 per day (USD US Gulf’s first hybrid retrofitted electricity while the vessel is
10,350-20,700), with the bulk PSV in the Americas. docked, thereby reducing noise
of offers coming in around the and pollution levels in harbour
middle of that range. Harvey has selected an energy areas. The ability to perform on
storage solution from Wärtsilä battery power will also assist
While that represents a distinct for the Harvey Energy, with a with maneuvrability during DP
improvement for owners, there 1,450kW battery hybrid solution operations at offshore locations.
will still be many instances of to be installed to reduce the The Wärtsilä equipment is due
owners who are unable to meet vessel’s exhaust emissions, noise to be delivered in December
their mortgage repayments for levels and fuel consumption. The 2019, while Harvey Gulf has also
modern tonnage despite the rate fuel cost savings are expected to ordered a GE battery system for
rises that have occured this year. be in the region of 10-20%. PSV Harvey Supporter as well.
SEABREEZE 3
OSV MARKET ROUND-UP
EQUINOR FIXES PSV TRIO FOR SUMMER CHARTERS
Equinor has awarded four-
month firm contracts to three
PSVs for summer season work
offshore Norway.
Vessels from Eidesvik Offshore,
Havila Shipping and Simon
Møkster Shipping will be going
on contract to Equinor later this
quarter, with three additional
two-month options available
beyond the end of the firm
periods.
The vessels that have been
chartered are the Viking Queen,
the Havila Clipper and the Stril VS 4403 LNG vessel. fixture rates have been on the
Pioner. The Viking Queen is a rise. Summer season fixtures for
2008-built VS 493 Avant LNG With the steady flow of term the higher-specification vessels
vessel; the Havila Clipper is a contracts awarded in the North in Norway have reached levels
2011-built Havyard 832 PSV; and Sea this year, both for multi-year of NOK 145,000-160,000 (USD
the Stril Pioner is a 2003-built and summer season campaigns, 16,900-18,650) this year.
NEW FIXTURES FOR GOLDEN ENERGY & SKANSI
As the North Sea market starts four more months, keeping her
to heat up for the peak summer committed until at least the end
season, Golden Energy Offshore of August 2019. Skansi Offshore
and Skansi Offshore have also PSV Torsborg, which has just
picked up new fixtures recently. returned to the North Sea from
Golden Energy PSV Energy the Mediterranean, has been
Swan has had her contract with chartered by OKEA for a four-
Torsborg (pictured c/o O. Halland) Wintershall Norge extended by month firm period from May.
AKER BP EXERCISES CALL-OFF FOR EIDESVIK PSV
Having recently awarded frame Operations are scheduled to
agreements to three Norwegian commence in the third quarter
owners for the provision of PSVs of 2019 following the conclusion
on a call-off basis, Aker BP has of the vessel’s upcoming drilling
utilised this option once again support charter with CNOOC
with the award of a 12-month offshore Ireland. The Viking
firm contract to Eidesvik PSV Prince is a 2012-built VS 489
Viking Prince. LNG PSV. Viking Prince (pictured c/o D. Dodds)
4 SEABREEZE
OSV MARKET ROUND-UP
TERM AHTS TRIO FOR SHELL
Brage Viking (pictured c/o D. Dodds)
Shell has awarded term fixtures
to Swire Pacific Offshore and
Viking Supply Ships for the
charter of three AHTS vessels in
the UK market.
Swire vessel Pacific Duchess and
Viking duo Brage Viking and
Njord Viking have each been
chartered for a firm period of
45 days with up to six weeks of
options available on each vessel.
The Viking pair are already on
charter, with the Pacific Duchess
scheduled to go on contract in
May. The vessels will primarily
be supporting Shell’s drilling The Pacific Duchess is a The Njord and Brage Viking
campaign with semisubmersible 2014-built Havyard 844 XL are VS 4622 CD vessels with a
rig Ocean Endeavor, which will vessel with a bollard pull of bollard pull of circa 250 tonnes.
shortly commence operations in 200-238 tonnes and a deck area They were delivered in 2011 and
the Central North Sea. of 650m². 2012 respectively.
TOTAL AND REPSOL SINOPEC RETAIN INCUMBENT PSVS
Total and Repsol Sinopec have Shipping PSV FS Arendal is also
both recently awarded contract now committed until at least the
extensions to keep incumbent first quarter of 2020 with Repsol
PSVs on charter in the UK Sinopec.
sector until 2020. Total has The Havila Commander is a
extended its contract with the 2010-built VS 485 PSV, while the
Havila Commander until at least FS Arendal is a 2006- built VS
Havila Commander (c/o R. Haugen) mid-April 2020, while Fletcher 470 MkII vessel.
MAJOR TRINIDAD CONTRACT FOR VROON
Vroon Offshore Services has Gorgeous and VOS Grace - will
been awarded a ‘major new be supporting BP’s operations in
contract’ with BP Trinidad and Trinidad and Tobago.
Tobago LLC for the provision This has required Vroon to
of emergency response and relocate the vessels from the
rescue (ERRV) services. Under North Sea in order to fulfil this
the terms of this contract, three multi-year, multi-million pound
vessels - the VOS Fabulous, VOS contract. VOS Grace (pictured c/o D. Dodds)
SEABREEZE 5
OSV RATES & UTILISATION
APRIL 2019 - DAILY NORTH SEA OSV AVAILABILITY
PSV 2019 PSV 2018 AHTS 2019 AHTS 2018
26
24
22
20
18
16
14
12
10
8
6
4
2
0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
RATES & UTILISATION
NORTH SEA SPOT AVERAGE UTILISATION APRIL 2019
TYPE APR 2019 MAR 2019 FEB 2019 JAN 2019 DEC 2018 NOV 2018
MED PSV 86% 81% 73% 62% 72% 59%
LARGE PSV 82% 79% 82% 58% 65% 67%
MED AHTS 40% 39% 38% 34% 31% 35%
LARGE AHTS 50% 62% 69% 61% 47% 50%
NORTH SEA AVERAGE RATES APRIL 2019
AVERAGE RATE AVERAGE RATE
CATEGORY % CHANGE MINIMUM MAXIMUM
APR 2019 APR 2018
SUPPLY DUTIES PSVS < 900M2 £15,340 £8,333 +184.09% £11,500 £21,000
SUPPLY DUTIES PSVS > 900M2 £16,587 £7,856 +211.14% £10,995 £22,500
AHTS DUTIES AHTS < 22,000 BHP £15,703 £25,958 -39.51% £6,880 £30,001
AHTS DUTIES AHTS > 22,000 BHP £16,775 £32,322 -48.41% £8,912 £28,500
SPOT MARKET ARRIVALS & DEPARTURES - APRIL 2019
ARRIVALS - NORTH SEA SPOT DEPARTURES - NORTH SEA SPOT
BB TROLL EX SOUTH AFRICA ATLANTIC MERLIN CANADA
SAEBORG EX MEDITERRANEAN ELDBORG WEST AFRICA
SKANDI CALEDONIA EX MEDITERRANEAN FAIRMOUNT GLACIER MEDITERRANEAN
SKANDI SKANSEN EX WEST AFRICA UNION LYNX MEDITERRANEAN
TORSBORG EX MEDITERRANEAN
VIKING QUEEN EX MEDITERRANEAN
* Vessels arriving in or departing from the North Sea term/layup market are not included here.
6 SEABREEZE
NORTH SEA AVERAGE SPOT RATES
£40,000
£17,500
£15,000 PSVs < 900m²
All Cargo Runs
£30,000
£12,500
£10,000
£20,000
£7,500
£5,000
£10,000
£2,500
£-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2018 £4,996 £5,844 £5,968 £8,333 £7,589 £7,631 £8,275 £5,692 £8,396 £8,441 £5,594 £5,493
2019 £5,299 £8,789 £9,473 £15,340 £- £- £- £- £- £- £- £-
£20,000
£17,500
£15,000 PSVsPSVs
> 900m²
< 900M²
900M2
£15,000
£12,500
£10,000
£10,000
£7,500
£5,000
£5,000
£2,500
£-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2018 £5,959 £5,627 £5,737 £7,856 £8,400 £7,585 £9,360 £8,550 £9,104 £10,152 £6,004 £6,143
2019 £5,280 £11,076 £13,339 £16,587 £- £- £- £- £- £- £- £-
£35,000
£40,000
AHTS < 22,000 bhp
£30,000
PSVs > 900M²
900M2
£30,000
£25,000
£20,000
£20,000
£15,000
£10,000
£10,000
£5,000
£-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2018 £5,481 £6,643 £20,748 £25,958 £8,733 £9,875 £12,303 £17,593 £9,717 £12,552 £6,100 £12,172
2019 £29,143 £14,899 £19,848 £15,703 £- £- £- £- £- £- £- £-
£40,000
£35,000
AHTS > 22,000 bhp
Rig Moves
£30,000
£30,000
£25,000
£20,000
£20,000
£15,000
£10,000
£10,000
£5,000
£-
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2018 £8,736 £9,410 £14,003 £32,322 £12,843 £16,931 £14,112 £24,324 £14,048 £12,555 £9,567 £12,516
2019 £16,134 £20,987 £20,592 £16,775 £- £- £- £- £- £- £- £-
£25,000
£20,000
Average
Average Day Rates Day Rates
To Month (AprilTo Month (June 2013)
2019)
£20,000
£15,000
£15,000
£10,000
£10,000
£5,000
£5,000
£-
PSVs < 900m² PSVs > 900m² AHTS < 22,000 bhp AHTS > 22,000 bhp
2018 £6,662
£6,240 £6,783
£6,196 £11,893
£13,813 £15,608
£16,184
2019 £9,586
£- £11,514
£- £20,166
£- £18,471
£-
SEABREEZE 7
FEATURE VESSEL
SEA GOLDCREST
Sea Goldcrest (pictured above c/o Ukjent)
Newbuild MPSV Sea Goldcrest has entered service for Seatankers/
Solstad Offshore following her recent delivery from the Fujian
Mawei Shipyard in China.
The Goldcrest is the first of four a deadweight of 5,000 mt and a
sister vessels that were acquired deck area of 1,000m².
by Seatankers Management
from Fujian in May 2018. They The vessel is equipped with four
had originally been ordered by Wärtsilä 6L26 engines providing Sea Goldcrest (pictured above c/o JT)
Nam Cheong on behalf of Bumi a power output of 10,460 bhp.
Armada but were later resold She has a total accommodation SEA GOLDCREST:
to Seatankers when the original capacity for 60 persons in a
order was cancelled. combination of one, two and Design: Wärtsilä WSD 1000
four-berth cabins. Build Yard: Fujian Mawei
The other three vessels are to Delivery Year: 2019
be named Sea Gull, Sea Heron The Wärtsilä WSD 1000 vessels LOA: 88.8m
and Sea Hornbill. They will all are suitable for work in all Moulded Breadth: 20.0m
operate under the management regions of the world, including Summer/Max Draft: 6.9m
of Solstad Offshore. the North Sea. They are also Deadweight: 5,000 mt
equipped with Wärtsilä’s Low Deck Area: 1,000m²
The Sea Goldcrest was built to Loss Concept which results Deck Load: 2,800 mt
Wärtsilä’s WSD 1000 design, in significant fuel savings and Engine Power: 10,460 bhp
giving her a length of 88.8m, a reduced emission levels when Service Speed: 11.5 knots
moulded breadth of 20.0m and a compared with standard diesel FiFi Class: FiFi 1
maximum draft of 6.9m. She has electric vessels. Accommodation: 60 persons
8 SEABREEZE
NEWBUILDS, CONVERSION, S&P
NEW WORLD SUPPLY SELLS FINAL FOUR...
New World Supply Ltd (NWS), they were all delivered in 2013.
in which Standard Drilling owns Standard Drilling has indicated
a 34.4% stake, has sold its final that these sale transactions have
four PSVs to undisclosed buyers. been completed at significantly
The World Diamond, Opal, Pearl higher levels than the purchase
and Peridot had all been laid price for the vessels. This follows
up in Norway for several years NWS’ earlier sales of the World
prior to this transaction. Built Emerald and World Sapphire in
to the Damen PSV 3300 design, October 2018. World Peridot (pictured c/o D. Dodds)
... BUT STANDARD ADDS OLYMPUS TO FLEET
Having offloaded the New World finance the deal with available
Supply vessels, Standard Drilling cash in hand. The Olympus is
has wasted no time in investing a Norwegian-built Havyard
again, this time picking up PSV 832 PSV that was delivered in
Olympus for USD 8.1 million. 2014. She has a length of 79.8m,
The vessel was sold via a court breadth of 17.6m and a deck area
process in Gibraltar, having of 800m². Fletcher Shipping will
earlier been arrested from her be the technical and commercial
previous owners. Standard will manager for the Olympus.
AUCTIONS HELD FOR FOUR MORE TOISA VESSELS
The latest batch of auctions have Ship Management offering USD
been held for the sale of vessels 2 million apiece for the Solitaire
from the former fleet of Toisa and Sonata. All three of the PSVs
Limited. Three sister vessels were built to the VS 483 MkII
- the Toisa Serenade, Solitaire design. Meanwhile, Offshore
and Sonata - have all been Services & Management Corp
auctioned, with Karpowership was the highest bidder at USD
Americas bidding USD 750,000 700,000 for the VS 4612 AHTS
for the Serenade, and Amber vessel Toisa Defiant. Toisa Serenade (pictured c/o P Gowen)
SEACOSCO NILE IN SERVICE
Another newbuild PSV has built for the Seacosco JV to the
recently entered service for UT 771 WP design. The vessels
Seacosco Offshore, the joint have a length of 85.7m, a beam
venture between Seacor Marine of 18.0m and a deadweight of
and Cosco. The Seacosco Nile 4,600t. They are equipped with a
is being mobilised west from hybrid energy storage system to
China, with her end destination minimise fuel oil consumption
likely to be the North Sea. She is and to aid dynamic response in
one of six vessels that are being all operating modes.
SEABREEZE 9
NEWBUILDS, CONVERSIONS, S&P
LUCY JOINS EDISON CHOUEST FLEET
Newbuild PSV Lucy has joined Two of the 270ft (82.3m) PSVs
Edison Chouest Offshore’s US were originally being built for
Gulf fleet. Lucy is one of three Bee Mar LLC, a Bollinger Ma-
sister vessels, alongside Robin rine subsidiary, however Edison
and Millie, to be built at the Chouest acquired them during
Bollinger Marine Fabricators construction and added a third
Robin (pictured c/o P. D. Jansen) facility in Amelia, Louisiana. vessel to the order.
NAO & SCORPIO FLEETS COMBINED
Following Scorpio Offshore’s Holdings Inc for a consideration
investment in Nordic American in common shares worth
Offshore (NAO) in December, approximately USD 22.6 million.
the fleets of the two companies The Scorpio fleet consists of two
have now been combined. This AHTS vessels (the SOI Baron and
has entailed NAO acquiring 13 SOI Brilliance) and 11 fast crew
vessels from Scorpio Offshore boats in West Africa. SOI Brilliance (pictured c/o A. Bulgakov)
KARADENIZ PICKS UP EMAS ANCHOR HANDLER
Karadeniz Holding has acquired providing a bollard pull of 220t.
former EMAS anchor handler A spokesperson for Karadeniz
Lewek Trogon. Delivered in has indicated that the vessel will
2008, the Trogon has a length of be used for towing operations
88.4m and a breadth of 20.6m. and as a support vessel for their
She has a deck area of 920m² and powerships during offshore
an engine output of 17,600 bhp, operations.
SEABIRD ACQUIRING BOA SEISMIC VESSELS
SeaBird Exploration has entered placement of more than 208
into an exclusive process to buy million new shares, which will
seismic vessels BOA Galatea raise NOK 250 million (USD 29.4
and BOA Thalassa for NOK million) in gross proceeds.
185 million (USD 21.8 million). The completion of the placement
To finance the acquisition, remains dependent on the vessel
SeaBird has carried out a private acquisitions being concluded. Boa Galatea
RECENT DELIVERIES OF NEWBUILD OSVS
NAME TYPE/DESIGN OWNER / MANAGER COMMITMENT
LUCY 270FT PSV EDISON CHOUEST OFFSHORE TBC
SEACOSCO NILE UT 771 WP PSV SEACOSCO OFFSHORE TBC
SEA GOLDCREST WÄRTSILÄ WSD 1000 MPSV SEATANKERS MANAGEMENT TBC
10 SEABREEZESUBSEA
SUBSEA MARKET ROUND-UP
Rystad Energy has earmarked the by 11%. This will be welcome since the turn of the century, but
subsea sector to become one of the news to the industry after years the number of subsea trees to be
strongest sectors in the Oil & Gas of stagnation in the sector since installed globally will increase to
market, with an average of 10% the highs of 2014. over 350 per year by 2021.
annual growth over the next five Helix Energy in their quarterly The energy consulting company
years. results announced that long- has seen spend on deepwater
They see subsea equipment term demand for well interven- subsea equipment increasing
such as wellheads, subsea trees, tions services will be driven by from 2018, after shallow-water
manifolds and control modules increased demand for subsea subsea equipment bottomed out
increasing by as much as 12% tree installations. Rystad indi- in 2017. This year they expect
year-on-year, while the procure- cated that there were only 240 the spend on ultra-deepwater
ment and installation of SURF subsea trees installed globally in subsea equipment to increase.
equipment will increase yearly 2017, which was the lowest level
DOUBLE WIN FOR SUBSEA 7 & L&T
and Larsen & Toubro Hydrocar- term agreement with Saudi
bon Engineering (LTHE) two Aramco. Additionally, the con-
contracts to cover conventional tract will also include the EPCI
projects in shallow water off- of three oil PDMs (production
shore Saudi Arabia. deck manifolds) on the Zuluf
The EPCI contracts covers the field. Offshore execution is due
Saudi Aramco has awarded the subsea pipelines on the Zuluf to start in 2020.
consortium between Subsea 7 and Berri fields, under a long-
MMA PINNACLE SECURES W2W CAMPAIGN
Woodside has awarded MMA IMR support vessel MMA Pin- Centurion SP work-class ROVs,
Offshore a contract to provide nacle, which will be fitted with 150t AHC subsea crane and
accommodation and walk-to- a bespoke Safeway motion-com- accommodation for 100 persons.
work duties to support platform pensated gangway system for
maintenance operations off the maintenance programme.
Australia, which commenced in The vessel, which is on a
April. long-term contract with i-Tech
MMA Offshore will utilise the Service, is equipped with two
LAPA WORK FOR TECHNIPFMC
Total, on behalf of the Lapa field located offshore Brazil. The field will be connected
consortium comprised of Total The contract covers the supply to the FPSO Cidade de Cara-
(35%), Shell Brasil Petróleo Ltda. of flexible pipes for oil produc- guatatuba, which is already in
(30%), Repsol Sinopec Brasil tion, gas lift and gas injection as operation.
S.A. (25%) and Petrobras (10%), well as associated accessories on
has awarded TechnipFMC the the field which is located in the
subsea contract for Lapa field pre-salt Santos Basin.
SEABREEZE 11SUBSEA
ACE PROJECT GETS SANCTIONED
been sanctioned. The steering committee, which
The new development will in- includes BP (30.37%) SOCAR
clude a new 48-slot production, (25.0%), Chevron (9.57%), INPEX
drilling and quarter’s platform, (9.31%), Equinor (7.27%), Exx-
as well as new infield pipelines, onMobil (6.79%), TPAO (5.73%),
as well as the installation of a ITOCHU (3.65%), and ONGC
water injection pipeline. Con- Videsh (2.31%), decided to go
The next stage of the giant ACG struction activities will com- ahead with the decision after an
field in the Azerbaijan sector of the mence this year and run through agreement with the Government
Caspian Sea, USD 6 billion Azeri to mid-2022 and first production of Azerbaijan to extend the life of
Central East (ACE) project, has is expected in 2023. the ACG field until 2049.
MCDERMOTT OFF TO THE NORTH FIELD
Qatargas has awarded McDer- facilities, located off Qatar.
mott a large EPCI (engineering, McDermott will utilise the
procurement, construction and 1986-built heavy lift Derrick
installation) contract covering Barge 50 and the 1974-built DB
eight new jackets for the ex- 27 to install the jackets as well as
pansion of North field offshore completions work.
NEPTUNE FORMS SUBSEA PACT WITH TECHNIPFMC
Neptune Energy has entered support. production and gas lift pipelines,
into a five-year, plus options, The first project covered by umbilicals, subsea structures
global alliance agreement cover- the deal will be the Duva and and installation works.
ing its subsea projects. Gjoa P1 development in the Engineering and fabrication
The agreement covers the full Norwegian North Sea. The two has already commenced, with
project lifecycle from early fields are being developed as the first template scheduled for
concept work to engineering, fast-tracked subsea tiebacks to installation in the third quarter
procurement and delivery of Gjoa. The contractor will deliver of 2019 at Duva.
subsea production systems, as subsea equipment including The majority of the installation
well as installation of subsea wellheads and the riser hang-off work will be undertaken in
equipment and infrastructure, at Gjoa, as well as subsea tem- 2020. First oil is anticipated in
continuing into life of field plates, subsea trees, manifolds, the fourth quarter of 2020.
MATISSE TO LAUNCH IN MAY
Ultra Deep Solutions has an- which has a length of 145m, 400t work-class ROVs.
nounced that the DP3-enabled Huisman crane, 300m-rated Meanwhile, Ultra Deep Solu-
DSCV (diving support and 24-man twin bell saturation tions MT6023-designed Andy
construction vessel) Matisse system and accommodation for Warhol is due to be delivered
launch has been rescheduled 140 persons, will be the largest from the Qingdao Beihai Ship-
from April 11 to May 11, 2019. vessel in UDS fleet. The new- building in China in July 2019.
The MT-6027 designed vessel, build will also be fitted with two
12 SEABREEZESUBSEA
OCEAN EVOLTUION DELIVERED
Oceaneering International has newbuild with SPS notation is
taken delivery of the Jones Act equipped with two work-class
compliant MT-6022-designed ROVs, 1,170.1m² open deck, 250t
subsea construction support AHC crane and accommodation
vessel, Ocean Evolution. for 110 persons.
The vessel is completing final The DP2 Ocean Evolution is also
outfitting and preparing for well stimulation and well inter-
project work scheduled to com- vention ready with under deck
Ocean Evolution (pictured c/o R Brown) mence in June. The 107.6m-long capacity to store special products.
CONOCOPHILLIPS AWARDS FIRM IEPCI CONTRACT
ConocoPhillips has awarded flowlines and associated subsea
TechnipFMC an integrated equipment.
Engineering, Procurement, The development is located in
Construction and Installation the Norwegian sector of the
(iEPCI) contract to cover the Tor North Sea at a water depth of 80 entered into an agreement
II development. meters. to sell two ConocoPhillips
The contract covers the delivery As per our front cover and United Kingdom subsidiaries to
and installation of a subsea opening story in this month’s Chrysaor for USD 2.675 billion,
production system including Seabreeze, it is worth reminding plus interest and customary
installation of umbilical, rigid that ConocoPhillips recently adjustments.
FIVE-YEAR DEAL FOR TIRADENTES
Petrobras has awarded OOS semi, which has accommodation
International a new contract, for 600 persons and is equipped
this time a five-year contract for with a Marine Aluminium
the flotel OOS Tiradentes. telescopic gangway, has been
The new contract will start dur- working on behalf of the opera-
ing the third or fourth quarter tor since delivery in 2018.
of 2019 and the accommodation
EDDA FONN READY FOR MILITARY SERVICE
Østensjø Rederi’s ST-253-de- with dive, ROV, hydrographic or handling natural disasters.
signed Edda Fonn IMR vessel systems and has been repainted
has mobilised and en route to to the Navy’s grey paint. The
New Zealand to be delivered to vessel will be renamed HMNZS
the Royal New Zealand Navy Manawanui and will be utilised
(RNZN) following the sale for military and coast guard
announcement in August 2018. functions. It may also be used
In order to meet the RNZN’s to carry out crane, diving and
needs the vessel has spent ROV operations, assisting Pacific
several weeks being outfitted nations with rescue operations
SEABREEZE 13RENEWABLES
ESVAGT FROUDE TO WORK ON TRITON KNOLL
Esvagt’s 2015-built SOV vessel 9.5MW turbines, scheduled to
Esvagt Froude has been awarded be installed between the start of
a contract to support construc- 2020 and the end of 2021. During
tion at innogy’s Triton Knoll the third quarter of last year,
offshore wind farm in the UK Esvagt was also awarded a long-
sector. term contract for the provision
The vessel will be involved in of a newbuild SOV for long-term
the installation of the project’s maintenance at Triton Knoll.
SEAWAY 7 APPOINTED PARTNER ON HOLLANDSE KUST ZUID
Seaway 7, a subsidiary of Subsea monopile foundations and the in the ongoing bid tender with
7, has been awarded a transport laying of the inter-array cables the Dutch Government.
and installation contract to cover for the first subsidy-free wind Seaway 7 will utilise the heavy
Vattenfall’s Hollandse Kust Zuid farm. lift and cable lay vessels from its
1 & 2 offshore wind farm in the Additionally, Seaway 7 has also fleet for projects 1 & 2 and 3 & 4
Dutch sector. been selected for work on the which are both scheduled to be
The work scope will cover the Hollandse Kust Zuid 3 & 4 pro- undertaken in 2022.
transport and installation of 76 ject, if Vattenfall are successful
ESVAGT ALBERT BETZ LAUNCHED
Zamakona Shipyard Bilbao has an SMST walk‐-to-‐work gangway
launched Esvagt’s SOV destined system in a bespoke tower with
to operate for MHI Vestas a crane placed on top of the
Offshore Wind on the 269MW tower, as well as Safe Transfer
Deutsche Bucht wind farm in the Boats STB 7 and STB 12.
German North Sea for 15 years. The newbuild is due to be deliv-
The 58.5-metre long Esvagt Al- ered during the third quarter of
bert Betz will be equipped with 2019.
WIND OF CHANGE COMPLETES SEA TRIALS
period, expected in May, the The vessel was ordered by
service operations vessel (SOV) France’s Louis Dreyfus Arma-
will service the Borkum Riffgr- teurs (LDA).
und 1 and 2 and Gode Wind 1 Ørsted chartered a second
and 2 offshore wind farms in the SOV from LDA in April 2018.
German North Sea. This vessel will also be built
The DP2 83-metre long SOV, by Cemre Shipyard and once
Ørsted’s SOV Wind of Change constructed at Cemre Shipyard delivered in 2021 will service the
has completed her sea trials in in Turkey, features diesel-elec- Hornsea Project One wind farm
Turkey and is now preparing to tric propulsion and is capable of in the UK sector.
mobilise to Germany. accommodating more than 60
Following the commissioning wind farm technicians.
14 SEABREEZERIGS
OIL PRICE VS RIG UTILISATION
100% $85
INACTIVE RIGS NORTHWEST EUROPE
NAME TYPE STATUS
$80
90% $80.47
$78.86
$75 BAUG JU COLD STACK
$76.65
$75.19 $74.44
80% $71.63 73.0% $73.13 $71.69 $70
71.9% $65.17 72.7% 72.5% 73.2% 72.5% BIDEFORD DOLPHIN SS WARM STACK
70.1% 70.0%
68.8% 67.4% 69.2% 69.0%
70% 67.6% $65
72.1%
68.6% 67.9% 69.1% 72.6% 72.4% 69.1% $60 BLACKFORD DOLPHIN SS WARM STACK
65.8% 64.7% 65.6% 66.9% $64.13 $66.41
60% 65.6% $59.27
61.9% $56.46 $55
48.0% 47.2% 48.1% 47.9%
46.0% 46.8% BORGLAND DOLPHIN SS WARM STACK
50% 43.3%
45.1% 45.0% 43.8% 45.2% $50
40.6% 42.1%
40% $45 BYFORD DOLPHIN SS WARM STACK
$40
30% C20051 JU WARM STACK
$35
20% $30 COSLINNOVATOR SS WARM STACK
Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19
Average Brent Crude US$ / Bbl Northwest Europe Rig Utilisation
EIR JU COLD STACK
South America Rig Utilisation US Gulf Rig Utilisation
ENSCO 70 JU COLD STACK
THREE-YEAR AUSTRALIA GIG FOR MAERSK ENSCO 71 JU COLD STACK
Inpex has awarded a contract to Browse Basin offshore western ENSCO 100 JU WARM STACK
Maersk Drilling for a three-year Australia. Operations are to
ISLAND INNOVATOR SS WARM STACK
firm charter with semi Maersk commence in the second quarter
Deliverer. The ultra-deepwater of 2020. The estimated contract MAERSK GIANT JU COLD STACK
rig has been contracted for a value for the three-year firm OCEAN GUARDIAN SS COLD STACK
drilling campaign at the Ichthys period is USD 300 million, with
POLAR PIONEER SS COLD STACK
gas and condensate field in the two one-year options available.
RECAPITALISATION OF DOLPHIN DRILLING
ROWAN STAVABGER JU WARM STACK
SCARABEO 5 SS COLD STACK
The majority of lenders to Dolphin to enable the company
SEDCO 711 SS COLD STACK
Dolphin Drilling have entered to focus solely on its midwater
into an agreement to reorganise fleet. The sale proceeds would SEDCO 714 SS COLD STACK
and recapitalise the drilling be used to repay debt to secured
SERTAO DS COLD STACK
business of the company. This lenders, and the midwater fleet
will include the sale of the would be transferred to a new SONGA DEE SS COLD STACK
ultra-deepwater drillship Bolette holding company. SWIFT 10 JU WARM STACK
RIG UTILISATION AND DAY RATES WEST ALPHA SS COLD STACK
APR APR APR APR APR WEST EPSILON JU COLD STACK
UTILISATION
2019 2018 2017 2016 2015
WEST NAVIGATOR DS COLD STACK
NORTHWEST EUROPE 72..5% 61.9% 51.5% 68.2% 91.8%
SOUTH AMERICA 69.1% 70.1% 74.2% 78.6% 93.5% WEST PEGASUS SS COLD STACK
US GULF 46.8% 40.6% 29.7% 38.5% 52.9%
WEST PHOENIX SS WARM STACK
RECENT DAY RATE BENCHMARKS LOW (USD) HIGH (USD)
WEST VENTURE SS COLD STACK
UK HARSH HIGH SPEC JACKUPS 75,000 102,500
WILHUNTER SS COLD STACK
NORWAY HARSH HIGH SPEC JACKUPS 145,000 200,000
UK HARSH STANDARD SEMISUBS 100,000 150,000 Source: IHS-Petrodata
NORWAY HARSH STANDARD SEMISUBS 180,000 180,000
GLOBAL ULTRA-DEEPWATER SEMISUBS 95,000 175,000
GLOBAL ULTRA-DEEPWATER DRILLSHIPS 128,000 215,000
SEABREEZE 15CONUNDRUM CORNER,
DUTY PHONES
WELL-SAFE BUYS FIRST RIG THE SEABREEZE ARCHIVE
Well-Safe Solutions has entered into an agreement For the current or archive copies of Seabreeze go
to acquire the semisubmersible drilling rig Ocean to: http://www.seabrokers.co.uk/ - see under
Guardian from Diamond Offshore. The harsh Shipbroking / Market Reports. If you wish to
environment rig entered service in 1985 and Subscribe or Unsubscribe please contact:
spent most of her life as a drilling rig in the North chartering@seabrokers.co.uk
Sea. However, Well-Safe will immediately begin
upgrading the rig to convert her into a bespoke
plug & abandonment (P&A) unit. She will be
renamed the Well-Safe Guardian. This will involve SEABROKERS GROUP CONTACTS
an investment in the region of USD 100 million,
including the installation of a dive system and the SEABROKERS HEAD OFFICE
Forusbeen 78 - 4033 Stavanger - Norway
capability to deploy an SIL (subsea intervention Tel: (+47) 51 80 00 00
lubricator). Well-Safe is progressing discussions to Internet: www.seabrokers-group.com
add a second semisubmersible to its fleet, which
will be followed by a jackup, a monohull vessel and SEABROKERS CHARTERING AS - STAVANGER
Duty Telephone ++47 51 815400 (24 Hrs)
land-based P&A units. E-mail chartering@seabrokers.no
SEABROKERS LTD - ABERDEEN
CONUNDRUM CORNER Duty Telephone ++44 1224 747744 (24 Hrs)
Duty Mobile ++44 7802 304129
E-Mail chartering@seabrokers.co.uk
Last month’s answer :-
SEABROKERS BRAZIL LTDA - RIO DE JANEIRO
I am first rate. Remove two letters and I am the Duty Telephone ++55 21 3505 4200 (24 Hrs)
E-mail chartering@seabrokers.com.br
raised edge of an object. Change one letter and I
am lacking brightness. Add one letter and I am SECURALIFT AS - STAVANGER
a US coin. Finally, change one letter and I am a Telephone ++47 51 800000
pantomime role. E-mail stig@seabrokers.no
SEA SURVEILLANCE AS - BERGEN
What was I to start with, and what did I become?
HEADING
Telephone ++47 55 136500
E-mail info@seasurv.net
The correct answer was :- PRIME and DAME (via
SEABROKERS EIENDOM AS - STAVANGER
RIM, DIM and DIME). Quiatis imaximilitem num enis porum ne dolles
Telephone ++47 51 800000
quiE-mail
rerum id minrolf.aarthun@seabrokers.no
corepta dolo quo conet il id
This month, our poser is as follows: quisto que voluptatus eatis re ventur? Hilibust
SEABROKERS
quis as minciasSERVICES AS -qui
peribustis STAVANGER
dolorit officatus
There are 1,000 £1 coins lined up in a row. They Telephone ++47 51 800000
aut preiumquas qui iuscimu sapelest, esto odio.
E-mail lars.hagen@seabrokers.no
are all facing heads up. First, flip every second coin Itatecum cus acerum ipidunture corporpores et int
so it is now facing tails up. Now, flip every third faccum remperi
SEABROKERS onsequi
FUNDAMENTERING AS - STAVANGER
coin so it is facing the other direction. Telephone ++47 51 800000
E-mail fundamentering@seabrokers.no
How many coins are heads up? And how many are SEABROKERS HAVNEKRANER AS - STAVANGER
tails up? Telephone ++47 51 800000
E-mail havnekraner@seabrokers.no
Answers back to chartering@seabrokers.co.uk.
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