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ISSUE 1 NOVEMBER 2015
TOP STORIES The newbuild contract for the JSD‐6000 being built by ZPMC in China for Petrofac has been terminated. Petrofac have cited “issues with yard performance”. The overall project was valued at $1 billion with $750 million for the yard. Delivery was originally scheduled for 2017 but had been delayed until 2018. ZPMC will contest this cancellation and pursue the liability borne by the owner. Oceaneering has been awarded a field development contract with Reliance in India. The firm period is 2 years with November likely commencement. The MPSV Island Pride will be utilised for the contract. Oceaneering are replacing Canyon Offshore and the Olympic Canyon on the contract. The Olympic Canyon is now available for charter from Canyon Offshore until May 2016 when it returns to Olympic Shipping. Ostensjo Rederi has been awarded a 5 year Maintenaince/Service contract with DONG Energy to operate on their Race Bank Offshore Wind Farm in the UK. The contract requires a newbuild Service Operation Vessel (SOV) which will deliver in Q3 2017 from Asteilleros Gondan in Spain. The DP2 vessel is being designed by Rolls‐Royce and will have 60 berths, and a motion compensated gangway.
Ocean Installer has been awarded a frame work agreement with BP in the Gulf of Mexico for subsea work. The contract will last 3 years and covers subsea fabrication, transportation and installation of offshore facilities as well as hook up and commissioning. No firm work has been awarded yet under the call‐off contract.
Subsea 7 has been awarded an exclusive 5 year agreement with Centrica to support throughout early phase Concept Engineering, FEED, SURF project execution and Life of Field operations. The agreement covers Centrica’s portfolio on the Norwegian Continental shelf and will begin with a FEED study for the Butch Field Development.
The delivery of the Havyard 858‐WE design vessel under construction at Havyard, Norway has been delayed by 1 year from Q2 2017 to Q2 2018. The NOK 700 million vessel is rumoured to be for Marine Platforms Ltd (MPL) of Nigeria. In March 2016 MPL will have the right to cancel the order for an undisclosed cancellation fee.
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TOP STORIES DeepOcean cable lay
VBMS Cable Lay
Something Clever!
Cammell Laird UK arctic vessel
Vestland Cygnus conversion & contract award
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VESSEL MOVEMENTS
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VESSEL MOVEMENTS
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FEATURE
POLAR ONYX SPECIFICATION Owner: Flag: Built: Design: Class:
Commentary
GC Rieber Shipping NIS 2014; Ulstein, Norway SX121 DNV 1A1 SPS BIS Clean(Design) COMF(C‐3, V‐3) Crane DK(+) DYNPOS(AUTRO) E0 HELDK(H, S) NAUT(OSV(A)) SF VIBR
DWT: 8,100 t Length: 130 m Breadth: 25 m Draft: 7.6 m Deck Area: 1,700 m2 Strength: 5,800 t (10t/m2) ROV Hangar: 175 m2 Crane: 250 t AHC, 3,000 m wire Moonpool: 8 m x 8 m Helideck: Sikorsky S‐92 Berths: 130 persons Power: 16,200 kW Image courtesy of Ulstein Verft AS
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DATA ROOM SPOT OIL PRICES 120
US Dollars per Barrel
110
Oil Prices up 2% in October compared to September
100 90 80
Brent hit a low of $46/bbl with a high of $52/bbl
70 60 50
Oil Majors adjusting to a low oil price environment with large project write downs and abandonments
40 30
West Texas Intermediate
Brent Crude
NORTH SEA PSV/AHTS SPOT MARKET PSV >800m2 Deck Area
AHTS >20,000 BHP 100
30
90 80 GBP (thousands)
GBP (thousands)
25 20 15 10
70 60 50 40 30 20
5
10 ‐
‐
2013
6
2014
2015
2013
2014
2015
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CONTACTS KRISTIANSAND Tel: +47 38 12 31 00 E‐mail: offshore@jgoship.no Website: www.jgoship.no GUILDFORD Tel: +44 1483 538 336 E‐mail: crew@deroff.com Website: www.deroff.com ABERDEEN Tel: +44 1224 766 170 E‐mail: crew@deroff.com Website: www.deroff.com RIO DE JANEIRO Tel: +55 21 3233 5750 E‐mail: offshore@Brazilship.com.br Website: www.Brazilship.com.br