JULY 2017 NORTH SEA SPOT MARKET SELLS OUT OF · PDF fileMARKET SELLS OUT There has been a ......

JULY 2017

NORTH SEA SPOT MARKET SELLS OUT OF TONNAGE

CONTENTS

Production and Administration: Seabrokers Ltd, AberdeenFor your free copy ofSeabreeze, email:[email protected]

The Seabreeze Monthly Market Report is distributed worldwide through our offices in Aberdeen, Stavanger and Rio de Janeiro.

© Seabrokers Group 2017

ABOUT SEABROKERS GROUPThe Seabrokers Group was established in 1982. We provide a unique and varied range of services to clients. The Seabrokers Group has an experienced workforce within Shipbroking, Real Estate, Facilities Management, Construction, Cranes & Transportation, Sea Surveillance and Safe Lifting Operations. Our head office is located in Stavanger, but we also have offices in Aberdeen, Bergen and Rio de Janeiro.

The Seabrokers Group is different – and we are proud of this fact. Our information, experience and knowledge provide us with the ability to perform in our diverse business areas.

Seabrokers Chartering AS and Seabrokers Ltd are certified by DNV GL in line with Management System Standard ISO 9001:2008.

OUR OFFICES:STAVANGER BERGEN SKIENABERDEEN RIO DE JANEIRO

www.seabrokers-group.com

3 OSV MARKET ROUND-UP

6 OSV AVAILABILITY, RATES & UTILISATION - NORTH SEA

7 MONTHLY OSV SPOT RATES - NORTH SEA

8 FEATURE VESSEL

9 OSV NEWBUILDINGS, CONVERSIONS, SALE & PURCHASE

11 SUBSEA

14 RENEWABLES

15 RIGS

16 CONUNDRUM CORNER & DUTY PHONES

SHIPBROKING

SECURALIFT

SEA SURVEILLANCE

REAL ESTATE

FOUNDATIONS

CRANES & TRANSPORTATIONYACHTING

FACILITY MANAGEMENT

SEABREEZE 3

OSV MARKET ROUND-UPNORTH SEA SPOT MARKET SELLS OUT There has been a growing consensus in recent months that conditions within the North Sea OSV market may have bottomed out. This sentiment, however, was not being translated into an increase in day rates on the spot market. Until July, that is, which turned out to be the most lucrative month of the year for owners, with both the AHTS and PSV spot markets selling out in either the UK or Norwegian sectors (albeit not at the same time).

The arrival of the summer season has seen a sizeable increase in the number of rigs working in the North Sea, and the associated rise in the number of rig moves taking place has resulted in a flurry of fixtures in the GBP 50,000 - 80,000 range. There hadn’t been a single AHTS fixture north of GBP 50,000 since March prior to the increase in activity last month. The drastic reduction in spot supply due to layup activity has also played a role, with the market tightening extremely quickly when a few rig moves come along in quick succession.

The same applies for the PSV market, where the seasonal increase in activity has coincided with a raft of vessels departing for project work elsewhere (e.g. Russia, West Africa and the Black Sea). This allowed several owners to pick up fixtures with rates of GBP 10,000 or more this month.

UK DISHING OUT NEW LICENCESThe UK Oil and Gas Authority has offered 12 licences to 10 different companies as a result of the 2016 Supplementary Offshore Licensing Round.

Operatorships were awarded to Apache and Speedwell with two blocks apiece, and to Actis, BP, EnQuest, Maersk Oil, IOG, JETEX, Shell and Statoil with one block each. The blocks awarded are located in a variety of different locations across the UK Continental Shelf (UKCS), from the Southern North Sea to East of Shetland.

Fourteen blocks were originally on offer in this round, which was

launched in response to industry nominations for areas outside of those covered by last year’s frontier 29th Licensing Round.

In other recent developments, the Oil and Gas Authority has also launched the 30th Offshore Licensing Round, with a total of 813 blocks or part blocks on offer in mature areas of the UKCS. There are blocks available in the Southern, Central and Northern sectors of the North Sea, as well as the West Shetland and East Irish Sea basins. The 30th Licensing Round is open until November 21, 2017, with awards likely to be made in the second quarter of 2018.

BOURBON ENTERS AUTOMATED VESSEL FRAYBourbon has entered into a Mem-orandum of Understanding with Automated Ships Ltd to support the building of the world’s first prototype autonomous offshore vessel, in collaboration with the project’s primary technology partner, Kongsberg.

Bourbon will use its expertise from building and operating a standardised fleet to provide input to the development and design of the Hrönn prototype, ensuring flexibility, reliability and cost efficiency to operate safely and effectively in the demanding offshore environment. Based on its customer experience, Bourbon will help the partners match

client demand to the project. During the second phase of the project, Bourbon and Automated Ships Ltd will join forces to search the subsidies available to finance the effective construction of the prototype.

The Hrönn is a light-duty offshore utility ship, intended to support the offshore energy, offshore fish-farming and hydrographic & scientific industries. She could also be utilised as an ROV and AUV support ship and standby vessel, able to provide firefighting support to an offshore platform in cooperation with manned vessels. Sea trials are to take place in the Trondheim fjord in Norway.

4 SEABREEZE

OSV MARKET ROUND-UP

Peterson (United Kingdom) Ltd has awarded a one-year plus options contract to Fletcher Shipping with PSV Standard Viking. The contract commenced in July. Operating under the technical and commercial man-agement of Fletcher Shipping,

the Standard Viking is one of three sister vessels acquired by Standard Drilling from Volstad Maritime in the first quarter of 2017. The ST-216L CD PSV, delivered in 2007, has a length of 93.4m, a deck area of 1,060m² and a deadweight of 5,150mt.

Nordic American Offshore and E.R. Offshore have both been awarded term contracts to support Maersk Oil’s operations in the UK sector of the North Sea.

The NAO Protector (pictured c/o D Dodds) has been chartered for 296 days to support Maersk Oil’s operations with Diamond Offshore semi Ocean Valiant; the rig is performing plug & abandonment work at the Janice field.

Meanwhile, the E.R. Georgina has been chartered for 356 days to support Maersk Oil’s drilling campaign with jackup Maersk Highlander at the Culzean field. The vessels, which were both

already working for Maersk Oil prior to these awards, started their new contracts in July.

The NAO Protector is a 2013- built Ulstein PX121 PSV, with a

deck area of 850m² and a deadweight of 4,200t. The E.R. Georgina is a 2010-built UT 776 CD PSV, with a deck area of 1,000m² and a deadweight of 4,250t.

PETERSON UK TAKES STANDARD VIKING ON TERM CHARTER

MAERSK OIL UK CHARTERS NAO & E.R. PSVS

GulfMark has been awarded a contract with Dana Petroleum to provide support at Dana’s Western Isles FPSO, east of the Shetlands in the Northern North Sea, with PSV North Purpose. The vessel has been chartered for a firm period of six months with

three further one-month options. The contract commenced in July. The North Purpose (pictured c/o O Halland) is a 2010-built STX 09 CD PSV. She has a length of 86.8m, moulded breadth of 19m, deck area of 1,000m² and a deadweight of 4,836t.

GULFMARK SUPPORTING DANA PETROLEUM

SEABREEZE 5

OSV MARKET ROUND-UP

SolstadFarstad has been awarded a contract with Cooper Energy to support its drilling campaign with Diamond Offshore semi Ocean Monarch offshore Australia. The Far Statesman and Far Senator (pictured c/o O Halland) will tow the rig from the North West Shelf of Australia to the Bass Strait, and

will continue supporting the rig for a firm period of 120 days with two further 60-day options. The tow is scheduled to begin in late Decem-ber 2017 or early January 2018. Elsewhere, SolstadFarstad has also picked up a one-year firm plus one-year option contract for AHTS Bos Turquesa with Petrobras.

Global Offshore Services is to mobilise three PSVs from the North Sea to the Black Sea, having been awarded a contract with Total to support its drilling operations offshore Bulgaria. The Ben Nevis, Makalu (pictured) and Olympus will support Total’s campaign with drillship Noble

Globetrotter II. The rig has been contracted by Total for a one-well programme, estimated to run for 100 days from September until late December 2017. The Makalu and Olympus have already left the North Sea for Bulgaria, with the Ben Nevis scheduled to follow in the near future.

Aker BP has opted to keep incumbent PSVs Stril Orion (pictured) and Stril Polar on charter offshore Norway. The Simon Møkster duo have both been awarded five-month contract extensions, starting on August 1st, with further options available.

The Stril Orion and Polar are sister vessels, built to the STX 09L CD design and delivered in 2011 and 2012 respectively. They have a length of 93.5m, breadth of 19.0m, deck area of 1,040m² and a deadweight of 4,900t.

In addition to the extensions awarded to Møkster, Aker BP

has also recently added Ugland PSV Evita to its term fleet. The vessel was reactivated in July to commence a three-month firm

contract, with three one-month options, having previously been laid up in Norway since January 2017.

GLOBAL OFFSHORE PSVS HEADING FOR BULGARIA

AHTS FIXTURES FOR SOLSTAD FARSTAD

AKER BP KEEPS MØKSTER PSVS

6 SEABREEZE

OSV RATES & UTILISATION

NORTH SEA SPOT AVERAGE UTILISATION JULY 2017

TYPE JUL 2017 JUN 2017 MAY 2017 APR 2017 MAR 2017 FEB 2017

MED PSV 83% 69% 67% 67% 69% 78%

LARGE PSV 86% 77% 75% 86% 87% 82%

MED AHTS 63% 49% 50% 54% 65% 30%

LARGE AHTS 71% 61% 47% 52% 78% 53%

JULY 2017 - DAILY NORTH SEA OSV AVAILABILITY

NORTH SEA AVERAGE RATES JULY 2017

CATEGORYAVERAGE RATE

JUL 2017AVERAGE RATE

JUL 2016% CHANGE MINIMUM MAXIMUM

SUPPLY DUTIES PSVS < 900M2 £10,271 £7,203 +42.59% £6,250 £17,500

SUPPLY DUTIES PSVS > 900M2 £9,709 £7,355 +32.01% £5,200 £16,500

AHTS DUTIES AHTS < 22,000 BHP £38,293 £32,759 +16.89% £11,000 £80,000

AHTS DUTIES AHTS > 22,000 BHP £29,457 £44,859 -34.33% £14,150 £75,000

RATES & UTILISATION

DEPARTURES - NORTH SEA SPOT

MAKALU BLACK SEA

OLYMPUS BLACK SEA

SKANDI SOTRA AUSTRALIA

TROMS LYRA WEST AFRICA

TROMS SIRIUS WEST AFRICA

SPOT MARKET ARRIVALS & DEPARTURES JULY 2017

* Vessels arriving in or departing from the North Sea term/layup market are not included here.

ARRIVALS - NORTH SEA SPOT

ATLANTIC KESTREL EX CANADA

ATLANTIC MERLIN EX CANADA

PACIFIC DISPATCH EX WEST AFRICA

SKANDI CALEDONIA EX WEST AFRICA

0

2

4

6

8

10

12

14

16

18

20

22

24

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 31

PSV 2017 PSV 2016 AHTS 2017 AHTS 2016

SEABREEZE 7

NORTH SEA AVERAGE SPOT RATES

£-

£10,000

£20,000

£30,000

£40,000

£50,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2016 £32,535 £26,746 £15,674 £24,536 £13,604 £23,088 £44,859 £18,899 £18,033 £9,746 £9,232 £13,9132017 £16,229 £15,789 £33,182 £19,396 £7,788 £14,237 £29,457 £- £- £- £- £-

Rig Moves

£-

£10,000

£20,000

£30,000

£40,000

£50,000


PSVs > 900M2

£-

£5,000

£10,000

£15,000


PSVs < 900M2

£-

£10,000

£20,000

£30,000

£40,000


All Cargo Runs

£-

£5,000

£10,000

£15,000

£20,000

£25,000

PSVs < 900m² PSVs > 900m² AHTS < 22,000 bhp AHTS > 22,000 bhp2016 £5,998 £5,397 £19,734 £22,6882017 £6,627 £6,404 £16,000 £17,939

Average Day Rates To Month (June 2013)

£-

£10,000

£20,000

£30,000

£40,000

£50,000


Rig Moves

£-

£10,000

£20,000

£30,000

£40,000

£50,000


PSVs > 900M²

£-

£5,000

£10,000

£15,000


PSVs < 900M²

£-

£10,000

£20,000

£30,000

£40,000


All Cargo Runs

£-

£5,000

£10,000

£15,000

£20,000

£25,000



£-

£10,000

£20,000

£30,000

£40,000

£50,000


Rig Moves

£-

£10,000

£20,000

£30,000

£40,000

£50,000


PSVs > 900M2

£-

£5,000

£10,000

£15,000


PSVs < 900M2

£-

£10,000

£20,000

£30,000

£40,000


All Cargo Runs

£-

£5,000

£10,000

£15,000

£20,000

£25,000



£-

£10,000

£20,000

£30,000

£40,000

£50,000


AHTS > 22,000 bhp

£- £5,000

£10,000 £15,000 £20,000 £25,000 £30,000 £35,000 £40,000


AHTS < 22,000 bhp

£-

£2,500

£5,000

£7,500

£10,000

£12,500


PSVs > 900m²

£-

£2,500

£5,000

£7,500

£10,000

£12,500


PSVs < 900m²

£-

£5,000

£10,000

£15,000

£20,000

£25,000

£30,000


Average Day Rates To Month (July 2017)

8 SEABREEZE

FEATURE VESSEL

Bibby Marine Services Ltd has secured two contracts for newbuild SOV Bibby WaveMaster 1, prior to her delivery in September.

BIBBY WAVEMASTER 1 SPECS:

Build Yard: DamenLength: 89.65mGangway: Uptime 3DMax Lift: 2 tonnes (AHC)Deadweight: 2,260tCovered Deck Area: 390m²Cargo Weather Deck: 425m²Accommodation: 90 (SPS)Dynamic Positioning: Class 2

BIBBY WAVEMASTER 1

Total was the first charterer to secure the services of the vessel, for a six-month firm contract from April 2018, with options to extend by up to three years. The SOV will be used to replace jackups and helicopters, and will provide walk-to-work access to Total’s gas platforms in the southern North Sea. The vessel will provide accommodation for up to 90 persons including crew.

Following that fixture, Bibby secured a second contract for the WaveMaster 1, to commence following her scheduled delivery

in September. James Fisher Marine Services has chartered the vessel for three months firm, with further options available. The SOV will support the commissioning phase for the Galloper wind farm offshore the UK. Construction of the Galloper wind farm is expected to be complete by spring 2018.

The Bibby WaveMaster 1 has a length of 89.7m, and she will be outfitted with an Uptime 3D motion compensated and height adjustable gangway.

SEABREEZE 9

OSV NEWBUILDINGS, S&P

Newbuild AHTS vessel CBO Iguaçu has been launched at the Estaleiro Oceana Shipyard in Itajaí, Brazil. The Iguaçu is the second of six sister vessels being built for Grupo CBO to the Havyard 843 design, with a length of 81.5m and breadth of 19.5m. She will have a bollard

pull of circa 195 tonnes with an accommodation capacity for 30 persons.The CBO Iguaçu was built by Grupo CBO to fulfil an eight-year plus eight-year option contract which was awarded in the seventh round of Petrobras’ fleet renewal (Prorefam) process.

CBO IGUAÇU LAUNCHED IN BRAZIL

MØKSTER SELLS TWO TO SIEM

Maersk Supply Service has accepted delivery of the Maersk Mariner, the second of six “Starfish” AHTS vessels being built by Kleven Verft in Norway. This follows the delivery of the Maersk Master in March, with the final four units due for delivery in 2018 and 2019. Built to the Salt

200 design, the Maersk Mariner has a length of 95m and breadth of 25m. She has an engine output of 23,000 bhp, providing a bollard pull in excess of 230t, and she is equipped with a dedicated ROV hangar. The Mariner is now en route to Australia for her maiden charter with Woodside Energy.

MAERSK WELCOMES SECOND STARFISH AHTS

Simon Møkster Shipping has sold sister AHTS vessels Stril Challenger and Stril Commander (pictured) to Siem Offshore.The vessels, renamed as Siem Challenger and Commander, were built to the Havyard 842 design and delivered by the Hav-yard Leirvik Shipyard in Norway

in 2009. The vessels have a length of 73.5m, breadth of 17.2m and deadweight of 2,800t. They have a bollard pull of circa 200 tonnes and accommodation for 26 persons. The Siem Challenger is currently trading the North Sea spot market, while the Commander remains in layup.

Cosco Guangdong Shipyard in China has reportedly delivered newbuild PSV VOS Patience to Vroon Offshore. This is the fifth of six sister vessels being built for Vroon to Ulstein’s PX121 design. Her predecessors - VOS Pace, VOS Paradise, VOS Partner and VOS Passion - are currently

working in the North Sea, with just the VOS Patriot still to be delivered.The VOS Patience has a length of 83.4m and a breadth of 18m. She has a deck area of 850m², a deadweight of 4,200 tonnes and an accommodation capacity for 26 persons.

FIFTH OF SIX PX121 PSVS FOR VROON

10 SEABREEZE

NAME TYPE/DESIGN OWNER/ MANAGER COMMITMENT

FANTASY ISLAND NA312E CD VE PSV EDISON CHOUEST OFFSHORE US GULF

MAERSK MARINER SALT 200 STARFISH AHTS MAERSK SUPPLY SERVICE AUSTRALIA

PACIFIC GREYLAG IMT 984 PSV SWIRE PACIFIC OFFSHORE TBC

VOS PATIENCE ULSTEIN PX121 PSV VROON OFFSHORE TBC

OSV NEWBUILDINGS, S&P

Newbuild PSV Fantasy Island has entered service for Edison Chouest Offshore following her recent delivery from Edison’s LaShip facility in Lousiana, USA. Built to the NA312E CD VE design, the Fantasy Island has a

length of 312ft (95.1m), breadth of 66ft (20.1m) and a deadweight of more than 6,000t. Her design features a hull form which maximises deadweight while reducing hydrodynamic resist-ance, improving fuel efficiency.

FANTASY ISLAND DELIVERED

MALIN SENTINEL LAUNCHED IN CHINA

Newbuild PSV Pacific Greylag was recently delivered to Swire Pacific Offshore by Japan Marine United Corporation. Following a brief period of modification work in Singapore, the vessel has since been mobilised to Australia.

The Pacific Greylag is the fifth of ten sister vessels being built for Swire to the IMT 984 design. Of the earlier deliveries, the Pacific Gannet, Goldfinch and Gosling are based in West Africa, while the Grackle is in Australia.

SWIRE WELCOMES GREYLAG

RECENT DELIVERIES OF NEWBUILD OSVS

The Cosco Dalian Shipyard in China has launched the Malin Sentinel, the ninth and final unit in Sentinel Marine’s newbuild ERRV programme. With six of the newbuilds already working in the North Sea, the final three are

nearing delivery in China. The last three units (Bailey, Biscay and Malin Sentinel) are sister vessels to the Portland Sentinel, and will be equipped with one daughter craft and one fast rescue craft, with a clear deck area of 400m².

Atlantic Offshore has sold its two oldest ERRVs, and both will now be recycled in Denmark. The 1976-built Ocean Sprite (pictured) and the 1982-built Ocean Swan had both been laid up since late

2016. The Sprite was a multi-role supply and rescue vessel with a length of 61.2m and breadth of 13.9m, while the Swan was a res-cue/recovery vessel with a length of 52m and breadth of 12.5m.

ATLANTIC OFFSHORE RECYCLING TWO ERRVS

SEABREEZE 11

SUBSEA

We are starting to see an increase in market activity, not just in terms of the number of tenders being issued, but more significantly in the number of long-term contracts being awarded. Furthermore, lengthy contract extensions are also being approved.One example of this is the recent contract extensions that Petrobras awarded Subsea 7 for three pipelay vessels that

are working on multi-year day rate contracts offshore Brazil. The firm contract periods for the sister vessels (2014-built Seven Waves, 2015-built Seven Rio and 2016-built Seven Sun) will now end during the second quarter of 2021, third quarter of 2021 and second quarter of 2022 respectively.The extensions have been awarded at the same day rates and on the same commercial

terms as the original contracts.These extensions have a com-bined value of approximately USD 250 million.The sister vessels have a length of 145.9m, with a 550-tonne top tension vertical lay system and a 400-tonne active-heave com-pensated crane. They are also equipped with two work-class ROVs, two underdeck storage carousels and accommodation for 120 persons.

SUBSEA MARKET ROUND-UP

BLUE MARINE LOOKS TO MAERSK STINGRAY NEWBUILD

Maersk Supply Service has secured a long-term contract with Subtec S.A. de C.V. of Mexico, a subsidiary of Blue Marine Group, for one of their four Stingray newbuild vessels.The Stingray vessel will be operating in the Bay of

Campeche performing general support duties for Subtec and their clients, including IRM and maintenance at Pemex platforms as well as enhancement and well stimulation work.The contract, Maersk Supply Service’s first in Mexico, will commence in the third quarter of 2018 and run through until June 2020.In June, Maersk announced that they had entered into an agree-ment with the COSCO Dalian shipyard in China to postpone

the scheduled delivery of the four Stingray subsea support vessels. Maersk’s agreement with COSCO will now see the delivery dates for the vessels range from summer 2017 to spring 2018.The four DP3 OCV vessels are designed to operate in harsh offshore environments both in shallow and deep waters. The MT 6027-designed units have a length of 137m, with a 400-tonne AHC crane and accommodation for 120 persons.

SEA TRIALS FOR TOPAZ TIAMAT Topaz Energy and Marine’s newbuild IMR support vessel Topaz Tiamat has started sea trials in Norway.Topaz Energy ordered the Topaz Tiamat, along with sister vessel Topaz Tangaroa, in September 2015 at a cost of USD 115 million. Deliveries are scheduled for the third and fourth quarter of 2017 respectively.

The DP2 VARD 3 08 vessels are equipped with 120-tonne active heave compensated offshore cranes, with the capability of reaching working depths of 3,000m. Both vessels will be outfitted with two ROVs, which will be deployed via Launch and Recovery Systems (LARS) in the side, with an accommodation capacity for up to 82 persons.

When placing the original order, Topaz also had options available for a further two VARD 3 08 designed vessels.

12 SEABREEZE

SUBSEA

Ultra Deep Solutions’ newbuild DP2 DSCV (diving support

construction vessel) Van Gogh was launched at CMHI (China Merchants Heavy Industry) in China on 21st July. The newbuild, based on Marin Teknikk’s MT6023 DSCV design, is equipped with an 18-man sin-gle bell saturation dive system for operations down to 300m. She is outfitted with an air diving system, one work-class

ROV, and one observation-class ROV with a LARS system.The Van Gogh is designed to carry out wellhead servicing, inspection and construction, diving and ROV support. She also features a 150-tonne offshore crane and has an accommodation capacity for 120 persons. The vessel is currently uncommitted.

VAN GOGH LAUNCHED

Fugro has been awarded an additional two-year contract with Petrobras to continue providing inspection, repair, and maintenance work with its IMR support vessel Fugro Aquarius. The new award follows the com-pletion of an initial 12-month charter, following delivery of the

vessel in November 2015. The DP2 unit, which has a length of 83m, a deck area of 520m² deck and accommodation for 60 persons, is providing pipe-line inspection services at the operator’s fields offshore Brazil. The Aquarius is now committed to Petrobras until May 2019.

PETROBRAS RETAINS THE FUGRO AQUARIUS

ONESUBSEA GIVES A BOOST TO OTTER OneSubsea has secured an engineering, procurement, construction, installation and commissioning contract from TAQA for a subsea multiphase boosting system for the Otter field in the UK North Sea.

OneSubsea and its Subsea Integration Alliance partner, Subsea 7, will supply and install the subsea multiphase boosting system including topside and subsea controls, as well as associated life-of-field services.

The project will result in a 30 km subsea tieback to the TAQA-operated North Cormo-rant platform.

REM ETIVE SALE COMPLETESolstadFarstad has completed the sale of their DP2 MT 6016-design diving support vessel REM Etive to Fugro. In February, Solstad Offshore agreed to sell the vessel to Fugro, prior to the merger of Solstad, Farstad and Deep Sea Supply. The vessel, which has a length of 93m, a deck

area of 800m² and a 140-tonne active-heave compensated crane, has been operating in Southeast Asia for Fugro under a long-term charter since December 2007. In 2013, the charter was extended for another three years until late May 2017, with two further yearly options.

SEABREEZE 13

SUBSEA

Ocean Installer has been award-ed a contract for subsea instal-

lations and tie-in operations on Statoil’s Johan Sverdrup phase II, Utgard and Bauge developments offshore Norway. The contract award will see Ocean Installer undertake the umbilical installations on the three projects as well as spools, cover, tie-in and manifold instal-

lation at Statoil’s Utgard project.Offshore operations will begin in 2019 utilising the VARD 3 06L-designed Normand Vision (pictured) and the STX OCV 03-designed Normand Reach, which has a length of 120.8m, a 250t subsea crane and accommo-dation for 100 persons.

OCEAN INSTALLER TO WORK ON JOHAN SVERDRUP

GC Rieber Shipping has been granted a four-month extension for the charter of its pipelay vessel Polar Onyx.The contract is now scheduled to finish at the end of August 2017, having originally commenced in March for an undisclosed client

offshore Ghana. The original contract was for four months with up to two months options. The Polar Onyx has a length of 130m, and she is equipped with a 250-tonne crane and an accommodation capacity for 130 persons.

FOUR-MONTH CONTRACT EXTENSION FOR POLAR ONYX

DEEPOCEAN TO PERFORM FIRST SUBSEA REMOTE TIE-INStatoil has awarded DeepOcean an EPCI contract for the instal-lation of a spool and tie-in of the oil export pipeline on the Johan Sverdrup Phase 1 development. The 274km, 36 inch spool, and remote hyperbaric tie-in of the oil export pipeline to the Johan

Sverdrup riser platform, will be carried out by derrick pipelay vessel Edda Freya during 2018 or 2019. The Salt 304-designed vessel has a length of 149.8m, two 220HP constructor ROVS, a 600-tonne AHC crane and a 150-tonne Huisman VLS system.

SAIPEM SECURES ADDITIONAL WORK ON ZOHRSaipem has finalised offshore contract variations worth USD 900 million with Petrobel for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the optimised ramp up phase of the giant Zohr development project in the Mediterranean Sea offshore Egypt. Saipem had originally been awarded EPCI work for

the start-up of the Zohr develop-ment in 2016.The current variations to the scope of work include the installation of a 30-inch diameter gas export pipeline and an 8-inch diameter service pipeline, as well as EPCI work for the field development of four wells and the installation of umbilicals, in water depths of up

to 1,700m. Work was scheduled to commence in July 2017, with a completion date expected by the end of 2018. Saipem will deploy the pipelay vessel Castorone along with subsea field development vessels Saipem FDS 2, Saipem 3000, Castoro 6 and the trenching barge Castoro 10 for the Zohr campaign.

14 SEABREEZE

RENEWABLES

Turkey’s Cemre Shipyard has awarded Uptime International a contract to deliver a full Uptime access solution to the newbuild service operation vessel (SOV) they are constructing for Louis Dreyfus Armateurs (LDA).

The order will consist of an active motion compensated gang-way and an adjustable pedestal, integrated towards the elevator tower in the new Salt Ship designed-SOV, which is due to be delivered in 2018. The newbuild

has already been awarded a con-tract with Dong Energy that will see it operate on four wind farms off the German coast – Borkum Riffgrund 1 & 2 and Gode Wind 1 & 2 – to cover maintenance of the wind turbines.

UPTIME FOR LOUIS DREYFUS NEWBUILD

VOS START INSTALLS BOSCH GANGWAYVroon held a naming ceremony for walk-to-work vessel VOS Start on July 20th, prior to the commencement of her maiden campaign at Dong Energy’s Walney Extension offshore wind farm in August.The 80m, DP2 vessel has been fitted with the first Barge Master and Bosch Rexroth motion compensated gangway. Addition-ally, accommodation units have also been installed to increase

the number of client technicians onboard to 65, amounting to a total number of 93 persons on board. The vessel will operate at the 659MW Walney Extension wind farm during the installation and commissioning of 40 MHI Vestas 8MW turbines. Comple-tion of the farm is scheduled for 2019. Vroon’s sister vessel, the VOS Stone, has also just been delivered to Vroon by Fujian Southeast

Shipbuilding in China. Mean-while, Vroon’s PSV VOS Prime has had an Ampelmann A-type gangway installed. She has commenced W2W operations at the offshore substations on the 600MW Gemini wind farm.

ACTA ORION TO REMAIN ON RACE BANK Acta Marine’s walk-to-work construction support vessel Acta Orion has been chartered by Siemens to support its construc-tion activities at Dong’s Race Bank offshore wind farm. The Acta Orion, which has a length of 108m, a beam of 16m and

an Ampelmann E-Type walk-to-work gangway, has been active on the Race Bank project since May 2017; she is now contracted until mid-November 2017. The vessel will provide accommodation for up to 60 technicians, who are carrying out commissioning and

testing duties as well as performing operation and maintenance duties on the installed turbines.Siemens is currently installing and commissioning 91 of its 6MW turbines, with the work planned to be completed before the end of the year.

AMPELMANN LAUCHES ENHANCED A-TYPE SYSTEM We have already mentioned one of the new entries into the gangway market with the Barge Master and Bosch Rexroth joint ventured gangway being installed onto the VOS Stone, but Ampelmann has also launched its latest gangway for personnel

transfer: the A-type Enhanced Performance (AEP).The upgraded gangway, based on the A-type, gives clients 10% greater workability in sea states of up to 4m significant wave height. Another benefit announced by Ampelmann is

that the AEP has the ability to use smaller vessels to obtain similar performance, compared to current A-type gangways, as well as benefits to operators in rougher waters, including the North Sea and the coasts of South America and the Middle East.

SEABREEZE 15

RIGS

COSL Drilling Europe will be reactivating two midwater semis next year for contracts in Norway and the UK. The COSLInnovator will start a one-well plus eight one-well options contract with Lundin Petroleum in the Barents Sea around March 2018.

Meanwhile, Nexen Petroleum UK has awarded a Letter of Intent to use the COSLPioneer for 12 months of P&A work at the Ettrick and Blackbird fields. This charter is due to start in the first quarter of 2018. Both rigs are currently stacked in Norway.

OIL PRICE VS RIG UTILISATION

RIG UTILISATION AND DAY RATESUTILISATION

JUL2017

JUL 2016

JUL 2015

JUL 2014

JUL 2013

NORTHWEST EUROPE 57.9% 64.6% 84.5% 97.3% 98.8%

SOUTH AMERICA 73.6% 74.3% 85.2% 94.2% 96.5%

US GULF 35.1% 36.0% 52.0% 70.2% 71.6%

RECENT DAY RATE BENCHMARKS LOW (USD) HIGH (USD)

UK HARSH HIGH SPEC JACKUPS 60,000 88,000

NORWAY HARSH HIGH-SPEC JACKUPS 130,000 143,000

UK HARSH STANDARD SEMISUBS 100,000 115,000

NORWAY HARSH HIGH-SPEC SEMISUBS 172,000 175,000

GLOBAL ULTRA-DEEPWATER SEMISUBS 150,000 222,295

GLOBAL ULTRA-DEEPWATER DRILLSHIPS 101,085 262,000

INACTIVE RIGS NORTHWEST EUROPE

NAME TYPE STATUSBLACKFORD DOLPHIN SS WARM STACK

BORGLAND DOLPHIN SS WARM STACK

BREDFORD DOLPHIN SS COLD STACK

BYFORD DOLPHIN SS WARM STACK

COSLINNOVATOR SS WARM STACK

COSLPIONEER SS WARM STACK

DEEPSEA METRO II DS COLD STACK

ENERGY ENDEAVOUR JU COLD STACK

ENERGY ENHANCER JU COLD STACK

ENSCO 70 JU COLD STACK

ENSCO 71 JU WARM STACK

GSF GALAXY I JU COLD STACK

GSF GALAXY II JU COLD STACK

GSF GALAXY III JU COLD STACK

GSF MONARCH JU COLD STACK

GSP SATURN JU COLD STACK

ISLAND INNOVATOR SS WARM STACK

MAERSK GIANT JU WARM STACK

MAERSK INSPIRER JU WARM STACK

MAERSK REACHER JU WARM STACK

OCEAN GUARDIAN SS WARM STACK

PARAGON C461 JU WARM STACK





PARAGON HZ1 JU WARM STACK

PARAGON MSS1 SS WARM STACK

POLAR PIONEER SS COLD STACK

RAN JU WARM STACK

ROWAN GORILLA V JU WARM STACK

ROWAN GORILLA VI JU WARM STACK

ROWAN STAVANGER JU WARM STACK

SCARABEO 5 SS WARM STACK

SEDCO 711 SS COLD STACK

SEDCO 714 SS COLD STACK

SERTAO DS COLD STACK

SONGA DEE SS COLD STACK

SONGA DELTA SS COLD STACK

SONGA TRYM SS COLD STACK

STENA DON SS WARM STACK

SWIFT 10 JU WARM STACK

WEST ALPHA SS COLD STACK

WEST EPSILON JU COLD STACK

WEST HERCULES SS WARM STACK

WEST NAVIGATOR DS COLD STACK

WEST VENTURE SS COLD STACK

WILHUNTER SS COLD STACK

COSL REACTIVATING RIGS IN 2018

BRAZIL CONTRACT FOR SEADRILLSeadrill has been awarded a new contract for its ultra-deepwater drillship West Saturn with Statoil Brasil Óleo e Gas. The rig will drill one firm exploration well at the Guanxuma prospect, and will

be used to perform a drill stem test at the Carcara discovery. Statoil holds options to drill up to seven further exploration wells. Operations are due to begin in late 2017 or early 2018.

Source: IHS-Petrodata

$45.07 $46.14 $46.19

$49.73

$46.44

$54.07 $54.89 $55.49

$51.97 $53.06$50.87

$46.89 $49.11

64.6%60.5%

57.4% 57.7%55.0%

51.6% 52.3% 53.3% 53.0% 51.5% 52.7% 54.5%57.9%

74.3% 74.8%77.6% 78.4% 76.8% 76.0% 74.4% 75.6%

74.3% 74.2% 73.2% 73.5% 73.6%

36.0% 35.4% 35.1% 35.2% 35.1% 33.5% 32.8% 33.4% 31.7% 30.6%33.9% 35.0% 35.1%

$25

$30

$35

$40

$45

$50

$55

$60

30%

40%

50%

60%

70%

80%

90%

100%

Jul 16 Aug 16 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17Average Brent Crude US$ / Bbl Northwest Europe Rig UtilisationSouth America Rig Utilisation US Gulf Rig Utilisation

Note: The Borgsten Dolphin, Ocean Nomad,

Ocean Princess, Ocean Vanguard, Transocean

Prospect and Transocean Searcher have been

removed from the list above following the

recent decisions from their respective owners

to scrap these units.

HEADING Quiatis imaximilitem num enis porum ne dolles qui rerum id min corepta dolo quo conet il id quisto que voluptatus eatis re ventur? Hilibust quis as mincias peribustis qui dolorit officatus aut preiumquas qui iuscimu sapelest, esto odio. Itatecum cus acerum ipidunture corporpores et int faccum remperi onsequi

16 SEABREEZE

FLURRY OF FIXTURES FOR ENSCOEnsco has had a productive spell on the chartering front recently, scooping new term fixtures for a wide range of rigs. In the floating rig market, the ENSCO DS-4 has been contracted by Chevron for a two-year plus one-year option charter offshore Nigeria. The rig, which has recently been stacked in Tenerife, is due to begin this charter in August 2017. Also in West Africa, newbuild drillship ENSCO DS-10 will begin a one-year plus five one-year options contract with Shell Nigeria in the first quarter of 2018; while ENSCO DS-7 will return to work in August to drill at least one well for Total offshore the Ivory Coast, having been idle in Tenerife since November 2016.

Ensco has also had some joy in the jackup market recently. Among other fixtures, ConocoPhillips UK awarded a three-year contract to the ENSCO 120; the North Oil Company in Qatar awarded a three-year contract to the ENSCO 110; and Arena Energy awarded a 400-day contract to the ENSCO 102 for work in the US Gulf.

CONUNDRUM CORNERThe answer to last month’s teaser :-

For each of the following, find a word beginning with ‘H’ which has the same meaning as the given word. What are the H words?

1) Yearn 2) Barter 3) Deceive

The correct answer was :- Hanker, Haggle and Hoodwink

This month, our poser is as follows:

At a cooked breakfast, 42 people have Danish bacon, 65 have fried eggs and 22 have baked beans. How many people have espresso coffee?

Answers back to [email protected].

THE SEABREEZE ARCHIVEFor the current or archive copies of Seabreeze go to: http://www.seabrokers.co.uk/ - see under Shipbroking / Market Reports. If you wish to Subscribe or Unsubscribe please contact: [email protected]

CONUNDRUM CORNER, DUTY PHONES

SEABROKERS GROUP CONTACTSSEABROKERS HEAD OFFICEForusbeen 78 - 4033 Stavanger - Norway Tel: (+47) 51 80 00 00 Internet: www.seabrokers-group.com SEABROKERS CHARTERING AS - STAVANGERDuty Telephone ++47 51 815400 (24 Hrs) E-mail [email protected]

SEABROKERS LTD - ABERDEENDuty Telephone ++44 1224 747744 (24 Hrs) Duty Mobile ++44 7802 304129E-Mail [email protected]

SEABROKERS BRAZIL LTDA - RIO DE JANEIRO Duty Telephone ++55 21 3505 4200 (24 Hrs) E-mail [email protected] SECURALIFT AS - STAVANGERTelephone ++47 51 800000 E-mail [email protected]

SEA SURVEILLANCE AS - BERGEN Telephone ++47 55 136500E-mail [email protected]

SEABROKERS EIENDOM AS - STAVANGER Telephone ++47 51 800000 E-mail [email protected] SEABROKERS SERVICES AS - STAVANGER Telephone ++47 51 800000E-mail [email protected]

SEABROKERS FUNDAMENTERING AS - STAVANGERTelephone ++47 51 800000 E-mail [email protected]

SEABROKERS KRAN & TRANSPORT AS - STAVANGER Telephone ++47 51 800000E-mail [email protected]

JULY 2017 NORTH SEA SPOT MARKET SELLS OUT OF · PDF fileMARKET SELLS OUT There has been a ......

Documents

Transcript of JULY 2017 NORTH SEA SPOT MARKET SELLS OUT OF · PDF fileMARKET SELLS OUT There has been a ......