December 2016 www.osjonline.com
Next generation ice ships likely to be LNG-fuelled Offshore vessel designers break into new markets IMO lays down the law on sulphur and greenhouse gas emissions
“Consolidation to generate cost synergies and efficiencies of scale enhance the potential benefit when a recovery materialises� Charles Fabrikant, executive chairman & chief executive officer, Seacor Holdings, see page 15
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contents
December 2016 volume 19 issue 10
32 30
Regulars 5 COMMENT 7 BEST OF THE WEB 11 VESSEL NEWS 36 IMCA NEWS 37 COMPANY NEWS
Area reports
35
36
12 Middle East: Saudi Aramco has contracted Saipem to install platforms and subsea systems in the Arabian Gulf, and Damen has secured contracts to build new crew vessels 15 Gulf of Mexico: stark choices are facing many offshore support vessel owners in the Gulf of Mexico 16 North Sea: trading conditions in the North Sea OSV market continue to be extremely tough for vessel owners, though the situation is the same in almost every region worldwide 19 Southeast Asia: recent weeks have seen some Singapore-based players in the offshore support vessel sector refinance, others still need to restructure and some face significant financial problems 20 Brazil: a new offshore supply base, Porto Central, is now open for business 21 West Africa: ExxonMobil is planning to develop the Owowo oil field in Nigeria, and Sea Trucks has won three construction support contracts in the region 22 Caspian/Mediterranean: Subsea 7 has won a substantial contract to install subsea systems and pipelines on the Atoll project offshore Egypt
Load handling 25 Despite the poor market for offshore vessels, cranes, launch and recovery and heave compensation systems continue to be developed and access systems enhanced to handle equipment and light cargo
Offshore vessel designers 30 OSV designers and builders are looking to new markets – and succeeding
Firefighting systems 31 Tyco has teamed with Kumera to address the fifi market
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Offshore Support Journal | December 2016
contents Ice-class vessels & equipment 32 A new LNG-fuelled icebreaker for Arctia in Finland points the way for environmentally friendly operations
Propulsion 35 Recent decisions at the IMO on the sulphur content of marine fuels will have wide-ranging ramifications
Safety alerts
December 2016 volume 19 issue 10 Editor: David Foxwell t: +44 1252 717 898 e: david.foxwell@rivieramm.com Deputy Editor: Martyn Wingrove t: +44 20 8370 1736 e: martyn.wingrove@rivieramm.com Brand Manager – Sales: Ian Glen t: +44 7919 263 737 e: ian.glen@rivieramm.com
38 Fuel spill during bunkering
Sales: Indrit Kruja t: +44 20 8370 7792 e: indrit.kruja@rivieramm.com
Market data
Sales: Colin Deed t: +44 1239 612384 e: colin.deed@rivieramm.com
40 Statistics 43 VesselsValue
Next issue Main features include: • main area report: North Sea • communications • oil spill response • propulsion: LNG • repair and conversion • heavy lift vessels • accommodation vessels.
Front cover photo: Arctech shipyard is building a new class of four icebreaking offshore vessels for Sovcomflot, the Russian shipping company (photo: Arctech Helsinki Shipyard)
Head of Sales – Asia: Kym Tan t: +65 9456 3165 e: kym.tan@rivieramm.com Sales – Asia & Middle East: Rigzin Angdu t: +65 6809 3198 e: rigzin.angdu@rivieramm.com Sales – Southeast Asia & Australasia: Kaara Barbour t: +61 414 436 808 e: kaara.barbour@rivieramm.com Production Manager: Ram Mahbubani t: +44 20 8370 7010 e: ram.mahbubani@rivieramm.com Subscriptions: Sally Church t: +44 20 8370 7018 e: sally.church@rivieramm.com Chairman: John Labdon Managing Director: Steve Labdon Finance Director: Cathy Labdon Operations Director: Graham Harman Editorial Director: Steve Matthews Executive Editor: Paul Gunton Head of Production: Hamish Dickie Business Development Manager: Steve Edwards Published by: Riviera Maritime Media Ltd Mitre House 66 Abbey Road Enfield EN1 2QN UK
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Offshore Support Journal | December 2016
ISSN 1463-581X (Print) ISSN 2051-0594 (Online) ©2016 Riviera Maritime Media Ltd
Disclaimer: Although every effort has been made to ensure that the information in this publication is correct, the Author and Publisher accept no liability to any party for any inaccuracies that may occur. Any third party material included with the publication is supplied in good faith and the Publisher accepts no liability in respect of content. All rights reserved. No part of this publication may be reproduced, reprinted or stored in any electronic medium or transmitted in any form or by any means without prior written permission of the copyright owner.
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COMMENT | 5
LEADING BROKER NOTES GROWTH IN DEMAND FOR WIND SHIPS
L David Foxwell, Editor
www.osjonline.com
eading offshore shipbroker Clarksons says there has been a perceptible increase in demand for offshore vessels assigned to the growing offshore wind industry. Clarkson Research Services Limited (CRSL) analyst Dominika Balikova says there are distinct signs that the offshore wind sector is emerging from a period of relative quiet following uncertainty in the market in the UK and Germany. For the first time in several years, the number of final investment decisions (FIDs) is on the rise, while technological advances and ongoing research are making progress in improving the cost-efficiency of offshore wind-generated power. Asking how this might translate into demand for vessels from the offshore vessel sector, Clarksons noted that, over the last few years, interest in the offshore wind industry has been on the rise, mainly due to a number of high profile FIDs and an increase in investment levels. This theme has so far extended into 2016, which is shaping up to be the most successful year for the industry yet. “At €14 billion, the investment value of new FIDs reached for European projects during the first half of 2016 was already greater than full year 2015 levels. The majority (74 per cent) of this investment has stemmed from the UK consolidating its place as the industry leader. For example, Dong Energy reached an FID for the first gigawatt-scale windfarm, the Hornsea Project 1, in February 2016,” said Clarksons. “Dong Energy also gained development approval for Hornsea Project 2 later in the year. Other countries have also made headway. A total of 3.5 gigawatts (GW) of capacity have started up offshore Germany, The Netherlands, Belgium and China since the end of 2014, 2.4GW of which was off Germany. Increased investment levels in the offshore wind industry are likely to spur demand for related vessel types. Initial interest earlier in the 2000s focused on turbine installation jack-ups, but more recently, the focus has been on accommodation solutions, particularly those equipped with a motion compensated gangway to allow walk-towork access. At the beginning of October, there
were more than 25 traditional accommodation vessels with a known track record of working within the renewable sector. A class of vessels specifically tailored for the offshore wind industry has also been gaining interest. These so-called service operation vessels (SOVs) are designed to offer accommodation, maintenance and manoeuvrability in one ship-shaped unit. At the start of October 2016, there were 12 such vessels in service and an additional 11 units on order.” Clarksons noted that, despite a slowdown in newbuild investment in turbine installation vessels following a peak of 13 units contracted in 2010, future demand could be generated by turbine upsizing and a move to deeper waters, driving a requirement for larger vessels. Since the start of 2005, the average turbine rotor diameter has increased by 39 per cent to 110m, while the average water depth of windfarms under construction (45m) is 66 per cent greater than the water depth of active farms (27m) as of the start of October 2016. There has already been one turbine installation vessel newbuild order placed in 2016 for China, plus one for Japan. “There is no denying that investment in the wind sector is on the increase,” the broker concluded. “This will ultimately result in a rise in total installed capacity and is already encouraging investment in specialist vessels to support the offshore wind industry.” You can learn more about the growth in demand for offshore vessels in the offshore wind industry by attending the Offshore Wind Journal Conference, which takes place on 7 February 2016 in London. The conference will be an intensive one-day event preceding the Annual Offshore Support Journal Conference, Awards & Exhibition and will address opportunities in this fast-growing market for vessel owners and operators and their supply chain. The programme is tailored for companies already working in the offshore wind industry and those in the offshore oil and gas sector looking to enter as part of a diversification strategy. OSJ www.offshorewindjournalconference.com
Offshore Support Journal | December 2016
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BEST OF THE WEB | 7
BEST OF THE WEB
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Kongsberg and Automated Ships Ltd to build unmanned offshore vessel Automated Ships Ltd in the UK, a subsidiary of M Subs Ltd, and Norway’s Kongsberg Maritime have signed a memorandum of understanding to build what they describe as the world’s first unmanned, fully automated vessel for offshore operations. The vessel, Hrönn, will be designed and built in Norway in co-operation with Kongsberg. Sea trials will take place in Norway’s newly designated automated vessel testbed
in the Trondheim Fjord and will be conducted under the auspices of class society DNV GL and the Norwegian Maritime Authority. The companies describe Hrönn as a light-duty, offshore utility ship servicing the offshore energy, scientific/ hydrographic and offshore fish-farming industries. Automated Ships Ltd will be the primary integrator, project manager and owner of the vessel. The company
says the project “will leverage existing technology to develop a robust, flexible and low-cost ship … and offer a capable workboat and provide an R&D asset for the emerging unmanned vessel industry sector”. Kongsberg’s role in the project is to deliver all major marine equipment necessary for the design, construction and operation of Hrönn. The vessel is expected to be built by Fjellstrand AS, a Norwegian shipyard with a long history of building fast ferries in addition to a number of steel offshore vessels and aluminium workboats. http://bit.ly/2ej6b0v
Adnoc consolidates and creates single entity for shipping operations
Hrönn will be built at Fjellstrand in Norway; Kongsberg’s role is to deliver marine equipment for the unmanned vessel
Strategic review to see 800 jobs go at Saipem The board of directors of Saipem has approved the company’s strategic plan, which identifies a series of measures that will allow it to adjust to more challenging market conditions. Refocusing the company’s business portfolio, derisking operations, optimising costs, making processes more efficient and emphasising technology and innovation are reaffirmed as the basis of the group’s strategy. Five divisions/companies will be created for the following sectors: offshore construction; onshore construction; offshore drilling; onshore drilling; and a new entity dedicated to high added-value engineering activities and services, aimed at improving the offer in a structured way and bringing the company ever closer to its clients’ needs. As well as generating greater efficiency in its European-based facilities, Saipem says new, leaner operating processes will lead to better deployment of human resources competencies within the group – 800 full-time posts are to be cut as a result. http://bit.ly/2eINVil
www.osjonline.com
Adnoc has announced its intention to consolidate the operations of three of its shipping, marine and services companies to create a single entity. Abu Dhabi National Tanker Company (ADNATCO), Petroleum Services Company (Esnaad) and Abu Dhabi Petroleum Ports Operating Company (IRSHAD) will be integrated to drive efficiency and optimise resources and assets across their various operations to maximise value. http://bit.ly/28RoXx2
Royal IHC to shed 425 employees as it ‘fine-tunes’ strategy The Netherlands-based Royal IHC, whose offerings range from offshore vessels and equipment to dredgers, has announced that, as a result of what it called “persistently poor” market conditions, it is fine-tuning its strategy and shedding jobs. http://bit.ly/2e3ImfI
Offshore Support Journal | December 2016
8 | BEST OF THE WEB
DOF Subsea returns to profit DOF Subsea returned to profit in the third quarter of 2016. The company’s board of directors said it is pleased with the financial numbers for third quarter but noted that to continue to adjust its capacity to the challenging market conditions cost cutting measures have continued. “The organisation has been adapted to the underlying activity, vessels have been re-allocated between regions to secure utilisation and chartered-in vessels from third parties have been redelivered,” said the company in its third quarter report. DOF Subsea’s board of directors said they expect challenging market conditions to continue, with an oil price of about US$45 per barrel. The company said it expects vessel over-supply and the weak market to continue, which will increase the risk of further impairment of the group’s assets. The board said it would ‘continuously adjust’ the group’s capacity and risk exposure. http://bit.ly/2ffV3zD
Maritime Partner secures first contract in offshore wind market Norwegian boatbuilder Maritime Partner has secured its first contract in the offshore wind industry. The well known Norwegian boatbuilder has signed a contract with the Spanish shipyard Astilleros Gondan for the delivery of four boats. They will be installed on two service operation vessels (SOVs) working in the offshore wind energy industry.
The SOVs were ordered by the Norwegian shipowner Østensjø Rederi. Maritime Partner will build two workboats and two fast rescue craft (FRCs) for the vessels. It says the contract was won in sharp competition with international suppliers. http://bit.ly/2fxCoiZ
Deep Sea Supply considers options including consolidation Norway’s Deep Sea Supply has 20 vessels laid up and is continuing to work hard to reduce costs. Announcing its third quarter results, which included consolidated revenues of US$10.2 million and EBITDA of US$7.3 million and a pre-tax loss of US$8.0 million, the company said the main reason for lower revenues compared with the same period in the second quarter was lower utilisation and lower rates. The company said the board is actively considering alternative uses of its fleet, including in the aquaculture and other sectors. Deep Sea Supply said it has sufficient liquidity for 2017 but the board is considering various strategic alternatives, including consolidation. http://bit.ly/2fwR6Xi
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2018 a crunch year for Eidesvik Norwegian offshore support vessel owner Eidesvik Offshore says 2018 will be a key year for the company and it needs to see an improvement in the market by then. The company has a NKr300 million (US$35.5 million) bond loan with a maturity date in the second quarter of 2018, and says that, if the market “does not improve considerably” by 2018, Eidesvik offshore group “will not be able to service its continuing liabilities on interest and debt instalment payments.” This being the case, the company has hired a financial advisor to assess its capital situation. http://bit.ly/2ffOjl8
Topaz CEO hopeful about 2017 René Kofod-Olsen, chief executive officer of offshore support vessel (OSV) owner Topaz Energy and Marine says Topaz has delivered stable results for the nine month period ended 30 September 2016, despite an “extremely challenging market.” In a statement about the company’s third quarter results, Mr Kofod-Olsen said: “Our cost efficiency programme and strategic position in the Caspian region have helped sustain a robust EBITDA delivery of US$111 million at a stable margin. “Our revenues for the nine month period stand at US$216.1 million, down 21.2 per cent compared to the same period last year. The decrease in revenues can be attributed to the OSV sector challenges, primarily driven by day rate reductions on long-term contracts and direct loss of revenue due to increasing market pressures on utilisation and rates. “Our total utilisation is however above regional benchmarks, which is a testament to our strong operating model. We are currently evaluating further optimisation of our operating model and cost position, without jeopardising our safety and operating standards.” http://bit.ly/2g2Vgtp
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VESSEL NEWS | 11
RIGHT: Offshore vessel owner Edison Chouest Offshore is moving further into mooring/assistance work with new ASD tugs
Chouest invests in mooring assistance/escort tugs Offshore vessel owner Edison Chouest Offshore (ECO) has ordered 13 heavy-duty mooring assistance and escort tugs based on designs from The Netherlands-based Damen. The tugs will be deployed on two projects for which ECO recently won contracts. The vessels will be built using ECO’s network of five shipyards in the US. The first of the contracts that ECO won earlier this year is for a new Corpus Christi-based liquefied natural gas (LNG) export terminal. The agreement is for the supply of four escort tugs, with a bollard pull of 80 tonnes, to operate at the terminal in Texas, which is currently under construction. The Damen tugs will be of the well proven azimuth stern drive (ASD) type, an escort/mooring version of the ASD 3212 design. More recently, ECO has won a long-term contract in Alaska. ECO is taking over escort-response duties out of Valdez, Prince William Sound, from July 2018, for which it will require nine high powered escort tugs. For this highly environmentally sensitive project, Damen and ECO will work together to deliver four more ASD 3212 tugs with a bollard pull of 70 tonnes each and five of the most powerful ASD tugs ever built. The ASD 4517 will have a bollard pull of in excess of 150 tonnes and is a joint Damen/ECO escort tug specifically designed for the sometimes challenging weather conditions in Prince William Sound. Rolls-Royce has signed a contract to deliver
propulsion and deck machinery for 13 new tugs, including five that will have a direct bollard pull of around 150 tonnes. Rolls-Royce’s scope of delivery includes both large azimuth thrusters and winch packages, enabling the tugs to efficiently perform their main duties of general harbour assistance, braking or steering the vessel or performing deep sea towing. Eight of the vessels ordered by ECO will be equipped with two US 255 fixed-pitch thrusters, while five will have US 60 controllable-pitch propellers. All 13 vessels will be equipped with towing winches plus auxiliary winches from Rolls-Royce, all based on low pressure hydraulics. The five largest tugs are to be equipped with winches with dynamic towing capability in the full bollard pull range instead of towing on static brake, which is most common for this type of vessel. The dynamic towing capability of the low pressure hydraulic reduces risk during a towing operation and reduces wear and tear on tow gear.
Havyard holds naming ceremony for icebreaking newbuilds On 10 October, a double naming ceremony was held at Havyard Ship Technology in Norway for two icebreaking offshore vessels for Russian shipping company Femco. The vessels, Pomor and Normann, are sister vessels to the first of the class delivered to Femco, Aleut, and will operate under a contract for Exxon Neftegas on oil fields offshore Sakhalin.
The new ships are of Havyard 843 ICE design and are intended to operate in extremely challenging conditions. They are constructed to comply with DNV’s ice-class Icebreaker ICE-10 with the classification demanding the ability to break 1m thick, one-year old ice. They also bear the class notation Winterized Cold (-30). OSJ
To view more whitepapers visit the Knowledge Bank on www.osjonline.com To upload a whitepaper to the Knowledge Bank, please email Steve Edwards at steve.edwards@rivieramm.com www.osjonline.com/s/knowledgebank
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Offshore Support Journal | December 2016
12 | AREA REPORT Middle East
Aramco awards offshore development contracts Saudi Aramco has contracted Saipem to install platforms and subsea systems in the Arabian Gulf, and Damen has secured contracts to build new crew vessels by Martyn Wingrove
MCS Allianz Venus will carry up to 50 passengers to and from oil fields offshore Abu Dhabi
S
everal new offshore support vessels (OSVs) ordered last year from Asian shipyards will be mobilised to Saudi Arabia next year to begin long-term contracts with Saudi Aramco. The size of the state energy company’s plans for further offshore development was partially revealed in November. Italian offshore engineering group Saipem announced around US$1 billion of new contracts, with the majority of this spend in Saudi Arabia. Saipem gained two engineering, procurement, installation and construction contracts involving subsea work and maintenance on existing platforms in the
Arabian Gulf. They refer to further development of some of the largest offshore fields in the world – Marjan, Zuluf and Safaniya. Saipem will be installing subsea systems, laying pipelines, subsea cables and umbilicals and installing platform jackets and decks as Saudi Arabia renews these ageing fields. This is on top of other projects in Saudi Aramco’s portfolio. Earlier this year, it contracted the Emas Chiyoda Subsea consortium to provide subsea services for the US$1.6 billion Hasbah offshore gas development. These contracts will provide work for fleets of subsea and platform construction support vessels
Offshore Support Journal | December 2016
and utility and supply vessels over a number of years. Some of these will be sourced from Middle East operators, like Zamil Offshore. The company has been focusing on offshore construction, maintenance and upgrading offshore platforms in Saudi Arabia. Zamil Offshore consultant engineer, international marketing and risk management executive Hassan Abouraya expects there to be considerable demand for these services in Saudi Arabia in the coming years. “Platforms that were built in the 1970s need refurbishment and upgrade, which is what we are doing,” he said. Zamil Offshore increased its fleet of vessels that are
deployed on these projects in anticipation of higher demand. “We are increasing the number of liftboats in our fleet from one to three, as these have higher rates than the OSVs, and we have sold a 17-year-old vessel to a UAE owner to decrease the average age of the fleet to 6.8 years,” he added. Zamil Offshore has also opened a joint venture company in Abu Dhabi to operate in the UAE and in Qatar. “We are tendering and expect to win some charters soon,” said Mr Abouraya. Other owners in the Middle East are adding new fast crew supply vessels to their fleets. They have ordered crewing vessels from shipyards in the region to deploy people to the growing number of oil production centres. Allianz Middle East Ship Management and Maritime Craft Services (MCS) have jointly taken delivery of a Damen Fast Crew Supplier (FCS) 2610 design vessel in the United Arab Emirates. MCS Allianz Venus will be used for efficient crew transfers of up to 50 passengers to and from offshore oil fields in Abu Dhabi. It also has 90m2 of deck space for transporting supplies to the oil fields. Damen Shipyards also won a contract in November to supply a fast crew supply vessel and two tugs to Jawar Al Khaleej ( JAK) Shipping. This included supply of an FCS 5009 design vessel from Damen Shipyards Antalya in Turkey. This is due to be delivered in the first quarter of 2017 and will be named Jawar Abu Dhabi. It will have a top speed of 25 knots and will carry up to 80 passengers as well as cargo on a 240m2 deck. JAK will also take delivery of two azimuth stern drive (ASD) 3213 tugs that are under construction at Damen’s Song Cam yard in Vietnam. Jawar Faw and Jawar Un Qasr will be operated at offshore tanker terminals in Iraq. OSJ
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Gulf of Mexico AREA REPORT | 15
Winter 2016/17 likely to be a defining one for US companies
Changes will take place in the offshore vessel sector in the next 6–12 months – big changes – with the fate of well known players in the balance
L
ate 2016/early2017 could see an industryleading company file for bankruptcy protection, such is the state of the market in the Gulf of Mexico. It could see major take-over deals or mergers. It is unlikely to be a period of stasis. Tidewater is perilously close to the edge, GulfMark is being wooed by Charles Fabrikant, chief executive of Seacor, and questions are being asked about other leading owners. October saw Mr Fabrikant writing to the board of directors at fellow offshore support vessel operator GulfMark suggesting that the companies merge. In a letter dated 18 October, Mr Fabrikant said, “We write this letter to you and our co-stakeholders as a significant bondholder and also one with the perspective of being in the same business as GulfMark Offshore for 27 years. Seacor Holdings currently owns approximately US$54.0 million of GulfMark’s 6 3/8% Senior Notes due 2022. “We believe that GulfMark is at a crossroads,” said Mr Fabrikant. “It can restructure its debt and continue operating independently, incurring costs of a public company and overheads for a small fleet with limited employment. This will most certainly deplete value to the detriment of shareholders and creditors; or choose to restructure its debt
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and combine with a financially stronger participant in its industry, thereby benefiting from cost synergies and positioning for future growth.” Mr Fabrikant said uncertainty in the market, coupled with GulfMark’s balance sheet, “puts the issue of GulfMark’s survival front and centre”. He went on to say, “As noteholders, we believe restructuring to create a manageable level of debt is priority number one. Consolidation to generate cost synergies and operating efficiencies of scale enhances the potential benefit when a recovery materialises.” Mr Fabrikant said GulfMark’s recent public filings show that it appears to face a liquidity shortfall and “very little cash has been generated from operations” and that “it appears to be only a matter of time before GulfMark will be in covenant default”. He went on to ask the board of directors at GulfMark to consider a “pre-packaged reorganisation and combination” with Seacor Marine Holdings. Hornbeck Offshore, one of the best known owners of offshore support vessels in the US, has engaged an advisory firm to review its capital structure and assess strategic options. In financial statements for its third quarter 2016, the company said that, as of 30 September 2016, it had a cash balance of US$225.5
million. The company projects that, even with the current depressed operating levels, cash generated from operations together with cash on hand should be sufficient to fund its operations and commitments at least through to the end of its current guidance period. However, Hornbeck Offshore has three tranches of funded unsecured debt outstanding that mature in fiscal years 2019, 2020 and 2021, respectively, and existing covenants in its revolving credit agreement constrain its ability to access that undrawn facility. Given the above and “fully cognisant of the challenges currently facing the offshore oil and gas industry”, Hornbeck Offshore said it is acting proactively and “taking steps to protect the business
Charles Fabrikant would like to bring about a merger between Seacor and GulfMark
enterprise”. Accordingly, it has engaged the advisory firm of PricewaterhouseCoopers Corporate Finance to begin the process of independently reviewing its capital structure and assessing strategic options. Early November saw Tidewater announce a secondquarter net loss for the period ending 30 September 2016. As highlighted on the OSJ website, as of the end of June and end of September 2016, the company did not meet the 3.0x minimum interest coverage ratio covenant in its revolving credit and term loan agreement, Troms Offshore debt (Troms Offshore being a Norwegian subsidiary) or its 2013 Senior Note Agreement. Failure to meet the minimum interest coverage ratio requirement would normally have resulted in covenant non-compliance. However, limited waivers were received. The company’s bank loans and its notes are linked together by cross-default provisions. In short, although the company is continuing to work towards amendments to its various debt arrangements, there is a possibility that the lenders, noteholders and the company will not be able to negotiate new debt terms that are acceptable to all parties, in which case, the company will probably have to seek reorganisation under Chapter 11 of the federal bankruptcy laws. OSJ
Offshore Support Journal | December 2016
16 | AREA REPORT North Sea
ACTION REQUIRED ON THE SUPPLY SIDE OF OSV MARKET TRADING CONDITIONS IN THE NORTH SEA OSV MARKET CONTINUE TO BE EXTREMELY TOUGH FOR VESSEL OWNERS, THOUGH THE SITUATION IS THE SAME IN ALMOST EVERY REGION WORLDWIDE
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n the North Sea, more than 150 platform supply vessels (PSVs) and anchor-handling tug/supply (AHTS) vessels are now in layup, with close to 1,000 ships in layup worldwide. Distress signals are now coming from several vessel companies, with many of the Norwegian owners having to extend deadlines set for the completion of debt restructuring agreements with their creditors and bondholders. It would seem clear that many involved in the industry expect 2017 to be another very tough year and thus are looking at strategic plans that might help to bring the recovery in the industry a little closer and capitalise on improving conditions when they do eventually arrive. Supply and demand are the key factors in a potential recovery for the offshore support vessel (OSV) industry. On the demand front, vessel owners have little power unfortunately. They can only hope that the oil price starts to improve and activity ramps up,
The average term utilisation rate for vessels built pre-1991 is 17 per cent, compared with 50 per cent for vessels built in the last 10 years
Offshore Support Journal | December 2016
leading to requirements for PSVs and AHTS vessels increasing again. On the supply side, however, vessel owners do have the ability to change the scenario somewhat. The idea of selling vessels out of the OSV market, or ideally scrapping older tonnage, is an important one for the industry. Figures from IHS Markit show that there is a distinct difference in term utilisation between old and young vessels. According to IHS, only 21 per cent of AHTS vessels with a build year of 1991 or earlier (making them 25 years old or more) were working on a term charter in the third quarter of 2016. Term utilisation for vessels younger than that, however, currently stands at around 50 per cent. On the PSV side of the market, the difference in utilisation is even clearer. Again looking at the third quarter 2016, the average term utilisation rate for vessels built pre-1991 is 17 per cent, compared to 50 per cent for vessels built in the last 10 years. The PSV figure is of particular importance, given the fact that the orderbook is now dominated by PSVs, mainly large PSVs with a deadweight of at least 4,000 tonnes. Just under 200 PSVs are still in the orderbook, with around 140 AHTS vessels on top. With so many new vessels still to enter service, it seems clear that many of the older vessels still in the market will need to make way for their arrival, especially as many of them are uncompetitive in today’s extremely challenging market. IHS Markit figures show that there are around 670 vessels still in service today that are more than 25 years old, with around 1,000 vessels greater than 15 years of age. On the flip side, around 2,300 PSVs and AHTS vessels worldwide are less than 10 years of age. Several of the vessels in the first two categories will need to exit the market in the next couple of years. However, this is much easier for some companies to do than others. Major players like Maersk Supply Service are leading the way on this front. The owner announced plans to lose 20 vessels from its fleet in the next few months as part of a divestment plan. It has already sold out of the market or had scrapped around a third of that number, as it believes that the number of vessels in the industry needs to be greatly reduced. Other major companies are beginning to do the same, but the very fragmented nature of the OSV market – in which there are many vessel owners with 10 or fewer vessels – means that smaller companies cannot afford to do this in earnest. Some of those companies must now be thinking about joining forces with each other in a bid to survive or perhaps come under the realisation that they might get eaten up by a larger player in the months to come. Either way, market consolidation and restructuring between vessel companies would appear to be another requirement in terms of improving the overall health of the sector. Historically, the rate of scrapping year on year has been very low. That needs to change dramatically before the current oversupplied market becomes impossible to trade in for some vessel owners. OSJ
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Southeast Asia AREA REPORT | 19
PANG SOUNDS CAUTIOUSLY OPTIMISTIC NOTE Recent weeks have seen some Singapore-based players in the offshore support vessel sector refinance, others still need to restructure and some face significant financial problems
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ingapore-based offshore support vessel owner Pacific Radiance Ltd, which recently negotiated a series of agreements with its main bankers and financial partners to refinance its existing term loans and renew revolving credit facilities, sounded an optimistic note in early November. In a statement about its latest results, the company said that, with Brent crude hovering at about US$45–50 per barrel, Pacific Radiance had seen a return in enquiries and awards for longerterm charters in key operating areas. The company’s executive chairman Pang Yoke Min said this indicates that the downturn in the sector might be about to bottom out. “However,” he said, “while we are cautiously of the opinion that the level of activity may slowly pick up from 2017, we remain prudent and conservative in managing cash flows, operations and costs to ensure the sustainability of our businesses.” With the support of the group’s key lenders, the profile of the term loans has been refinanced to 12 years from an average of seven years, and the maturities have largely been extended from 2019 to 2021. As a result, the group’s loan principal repayment burden will reduce by approximately US$103 million over the next three years to 2019.This is expected to enhance the group’s liquidity position and financing cash flows in the near to medium term. Mr Pang said the new arrangements represented a clear vote of confidence from the company’s financial
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partners “not just in our financial standing but also in our strategic plans for the future”. He went on to say, “The timely extension of our long-term financial arrangements has secured us a stronger footing to weather this gruelling industry downturn as we await the sector recovery.” Pacific Radiance said it has worked to strengthen its financials and enhance cash flow since the onset of the industry downturn in late 2014, in line with its risk mitigation strategy. This includes the successful amendment of a financial covenant in November 2015 under the group’s only bond issue due in August 2018 to avoid any technical breaches. The company has not committed to any new capital expenditure for its fleet expansion programme since mid-2014 – the last of the newbuild vessel deliveries that it committed to previously is expected to be made by early 2017 – and recently made further inroads into the offshore support vessel market in Mexico with a long-term charter worth US$73 million including options. Other well known companies, such as Swissco Holdings, have not been so fortunate. Having held informal discussions with its lenders, Swissco presented a restructuring plan to its banks, but said in an early November statement that the lenders had not agreed to the plan. Recent weeks saw Emas Offshore Ltd announce a net loss of US$265.3 million for the full year ended 31 August 2016 (FY2016). The net loss for the three months ended 31 August 2016 stood at
Pang Yoke Min: “we are cautiously of the opinion that activity may slowly pick up from 2017”
US$98.5 million. For the full year, the group recorded revenue of US$167.6 million, as compared to revenue of US$247.2 million in the same period a year ago. “The company said this decline in revenue was the result of “continual weakness” in the offshore industry leading to markedly lower demand as well as general oversupply in the offshore support vessel segment. The gross loss for the year stood at US$49.8 million as compared to gross profit of US$29.4 million in the previous corresponding period. Captain Adarash Kumar, Emas Offshore’s chief executive officer, said, “The market continues to be extremely challenging. One bright spot for the group is that we are starting to see signs of stabilisation in utilisation rates though daily charter rates are expected to remain depressed for a considerable period of time. Looking ahead, we believe that FY2017 will continue to be an extremely challenging period for the group. However, we remain on track on the initiatives we have implemented to strengthen our financial position and conserve cash. The divestment of our FPSO1 has allowed us the flexibility to rework our costs and capital allocation and streamlined our operational focus,” said Captain Kumar. “In terms of geographical expansion, West Africa continues to be a strategic market for the group. In anticipation of new business engagements, we intend to deploy more vessels in West Africa and also increase our presence in India.” OSJ
Offshore Support Journal | December 2016
20 | AREA REPORT Brazil
Porto Central offers owners alternative offshore base Brazil’s newest port complex, Porto Açu in the state of Rio de Janeiro, opened for business earlier this year with an ambition to become the main port for offshore support services along the east coast of South America by Rob Ward
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ith a superb location right in front of the Campos Basin and well placed for the Espírito Santo Basin to the north, companies setting up offshore support bases (OSBs) in the Porto Açu complex – which covers some 90km2 – are preparing to take over much of the business that currently goes to the cramped OSBs in Macaé, 145 km to the west, and to those in Guanabara Bay, near downtown Rio de Janeiro, and Niterói, 342km and 322km away respectively. However, Porto Açu will now have to face up to unexpected competition much closer to home, which threatens to turn its 2017 new year celebrations just a little bit sour. An idea mooted a few years ago but not acted upon now seems about to become a reality and provide fierce competition to Porto Açu. Porto Central, located in the state of Espírito Santo and
Pinguim is the latest addition to the Wilson, Sons Ultratug Offshore fleet
the municipality of Presidente Kennedy, is a joint venture between the Port of Rotterdam and TPK Logistics – a logistics and civil construction company – and, with the environmental licences in place, is waiting for an installation licence before construction will begin, probably at the end of this year. Porto Central is located only 70km (as the crow flies) to the south of Porto Açu and will be a serious threat to Brazil’s newest port complex. The threat will be in the arenas of offshore port services as well as solid bulk. Edison Chouest opened up an OSB in Porto Açu in mid-2016 and probably wasn’t envisaging fresh competition so soon and so close to its base. Technip also has an installation there. “What we are offering here is completely different from Porto Açu or anything else on offer in Brazil today,” explained José Salomão Fadlalah, a
director at Porto Central. “Porto Açu has been built with a huge capex and with the intention of building a mostly iron ore port for Anglo American. We believe that, with our much smaller capex, we will be much more competitive, and we are looking around for offshore and OSB companies to come and work out of our port.” That sounds like a warning shot being fired across the bows of Edison Chouest, the Galliano, Louisiana-headquartered company, which operates 55 offshore support vessels (OSVs) in Brazil under the Bram Offshore brand and also runs a shipyard building OSVs in Navegantes, in the Itajaí port complex of Santa Catarina. Mr Fadlalah, who once worked for Eike Batista (the now bankrupt billionaire entrepreneur) on the Porto Açu project, told OSJ that Porto Central was negotiating with a number of oil companies as well as OSB companies to try and persuade them to set up an OSB and other offshore facilities in Porto Central. Meanwhile, the Wilson, Sons Ultratug Offshore joint venture has just taken delivery of its second PSV 5000, a vessel built under the Petrobras fleet renewal programme (Prorefam). Pinguim was constructed at the Wilson, Sons Guarujá shipyard, as was sistership Larus, delivered in July, which has already begun working for Petrobras. “Just as we did with Larus, we went beyond the Prorefam requirement and ordered the 5,000 dwt Pinguim. With this, we can offer a superior vessel for our customer,” said Wilson, Sons Ultratug Offshore executive director Gustavo Machado. Petrobras requirements were for PSV 4500s, but Wilson, Sons went that bit further because the demand today in Brazil is for more powerful OSVs. Pinguim is 85.25m long with a beam of 19m and a draught of 6.3m. The ship is based on a Damen design with financing from the Brazilian Merchant Marine Fund (FMM) facilitated by the Brazilian National Development Bank (BNDES). OSJ
www.osjonline.com
West Africa AREA REPORT | 21
HAT-TRICK OF CONTRACTS FOR SEA TRUCKS EXXONMOBIL IS PLANNING TO DEVELOP THE OWOWO FIELD IN NIGERIA, AND SEA TRUCKS HAS WON THREE CONSTRUCTION SUPPORT CONTRACTS IN THE REGION BY MARTYN WINGROVE
West African Ventures will use the DP3 accommodation construction vessel Jascon 30 for a Nigerian project
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xxonMobil Corp could be on top of the next giant deepwater oil field project in West Africa, which would be a boost for the region’s vessel operators. It has discovered between 500 million and one billion barrels of oil in the Owowo field, along with partners, including Chevron, Total, Nexen and the Nigeria Petroleum Development Co. ExxonMobil exploration president Stephen Greenlee said the company would work with these partners and the government on future development plans. The Owowo field is in water depths of around 500–600m, which means
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subsea systems linked to an oil production vessel would be an obvious method of developing the resources. Any movement to develop Owowo would be a boon to subsea construction vessel owners and support vessels, not that they have been too idle. Sea Trucks Group was on a roll recently as it has secured contracts for vessels on projects in the region. In Nigeria, its subsidiary West African Ventures secured a contract from an unnamed oil major for the provision of an accommodation vessel for a deepwater development. This will be using DP3 accommodation construction vessel Jascon 30, which can accommodate
nearly 300 people. The contract will begin in October 2016 for a duration of three months firm, with options to extend. Sea Trucks then secured an inspection, maintenance and repair contract for an oil major during the fourth quarter of this year. It will be utilising multipurpose support DP2 vessel Jascon 55 and other support vessels for the work. For a hat trick of contracts, Sea Trucks gained work from Tullow Oil to support the Jubilee project in Ghana. DP3 accommodation hook-up vessel Jascon 28 was mobilised to Ghana for two months’ work. It is supporting construction work on the Kwame Nkrumah FPSO, where Tullow is converting the vessel into a spread-moored ship. There will be more work from Tullow in 2017 as it will be deploying a tanker loading buoy at Jubilee and continue developing parts of the TEN project. This started production earlier this year and loaded the first oil cargo in October. There was more good news from Equatorial Guinea where Ophir Energy is one step closer to developing gas resources. It has formed the OneLNG joint venture with Golar LNG and Schlumberger. They are working towards producing the first gas in the Fortuna project in the first half of 2020 then liquefying it on the Gandria LNG production vessel. Oceaneering International confirmed it has gained a two-year extension to its contract with BP for deepwater projects in Angola. It will provide these services through to January 2019 using multiservice vessel Ocean Intervention III until April 2017, then other vessels during the remaining period of the contract. Also in Angola, Tschudi Group has established the Tschudi AngolaNavegação company to expand in West Africa. It will operate anchor handlers that are used to support dredging and port work as well as vessels for offshore support. Brokers said Tschudi will manage World Wide Supply’s 2013-built platform supply vessels World Emerald and World Sapphire, which are currently laid up in Cádiz, Spain. Brokers also reported that Britoil mobilised two anchor-handling tugs with 155 tonnes bollard pull to Angola after securing a 300-day charter with Seaways. Britoil 120 sailed from the UAE and Britoil 121 arrived from Indonesia. In the Gulf of Guinea, SeaBird Exploration has supplied Osprey Explorer as a source vessel for an ocean-bottom seismic survey. This survey will last into the first quarter of 2017. OSJ
Offshore Support Journal | December 2016
22 | AREA REPORT Caspian/Mediterranean
Subsea 7 wins Egyptian offshore contract Subsea 7 has won a substantial contract to install subsea systems and pipelines on the Atoll project offshore Egypt by Martyn Wingrove
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ome of the predicted contract awards for offshore construction and support vessels in the Eastern Mediterranean are starting to materialise. There has been great expectation recently that large gas discoveries in the region will result in new contracts for subsea construction companies and supporting vessels. In November, one of the first of the expected contracts was awarded. Subsea 7 gained a substantial order for offshore construction work in Egypt. It gained the contract from Pharaonic Petroleum Co, an affiliate of BP, for subsea engineering, procurement, construction and installation
work on the Atoll project. Subsea 7 will be responsible for installing more than 40km of rigid pipelines and associated structures for the new Atoll field. The water depths for the installation work range from 100m to 900m. Subsea 7 will also be tying these pipelines into the existing Taurt field facilities, which are in water depths of 100m, and installing 105km of umbilicals to connect subsea wells on the Atoll field. Engineering and procurement services have already begun on this project. However, the offshore programme will not begin until the second half of 2017. The offshore installation and commissioning work
will continue until nearly the end of the first quarter of 2018. Subsea 7 said it will use subsea construction and pipelay vessels Seven Borealis, Seven Eagle and Seven Arctic for the project. Subsea 7 worked for Pharaonic Petroleum on another project this year. It gained a contract last year to help develop the third phase of the East Nile Delta gas fields. This involves the engineering and installation of pipeline, subsea structures, umbilicals and rigid spools over deepwater gas fields. Offshore operations on this fast-track project were concluded this quarter after Seven Borealis installed the final subsea component.
Subsea 7 will use Seven Eagle on the Atoll project in the second half of 2017
Offshore Support Journal | December 2016
A rival subsea construction vessel operator has also worked offshore Egypt this year. Saipem gained a contract from Eni in the second quarter to provide engineering, procurement, construction and installation services on the Zohr development. It is installing gas pipelines, service lines and umbilicals to link subsea wells to shore using a fleet of vessels, including deepwater pipelayer Castorone, semisubmersible pipelayer Castoro Sei and trenching/pipelay barge Castoro 10. This work is expected to continue until the end of 2017. In the Black Sea, French oil major Total has made a large oil discovery that it said opens up a new area for exploration and field development. Total used 2013-built drillship Noble Globetrotter II to drill the well on the Khan Asparuh block. The Polshkov well is nearly 130km offshore Bulgaria. Its success is likely to trigger further investment in this section of the Black Sea by Total and its partners, which includes Austria’s OMV and Repsol of Spain. This would be a boost for demand for OSVs stationed in the area. In the Caspian, Total is also a partner in the Kashagan project in Kazakhstan, which met an important milestone in October. The first oil was exported via two pipelines from the giant oil field after a prolonged shutdown cut the initial production. The US$50 billion project has been beset by delays and problems since development began a decade ago, so the field operator North Caspian Operating Co will be pleased to restart exports since facilities were closed down three years ago. Kashagan began production in 2013, but output was suspended because of technical problems with the gas pipelines. It restarted test production in September. OSJ
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LOAD HANDLING | 25
Motion and heave compensation add to load-handling capability Despite the poor market offshore enhanced, more capable cranes, launch and recovery and heave compensation systems continue to be developed, and access systems are being enhanced to handle equipment and light cargo as well as transferring personnel
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n October, The Netherlands-based Safeway added to its range of motion compensated equipment with an innovative 3D crane jib. CargoSafe is the latest addition to its range of motion compensated systems for the offshore oil and gas and offshore wind sectors. The company says CargoSafe can be used to upgrade cranes on offshore vessels to 3D motion compensated functionality. CargoSafe uses a new 3D crane jib from Van Aalst Group, which owns Safeway, and is described as a “costefficient, compact add-on which fits any existing crane”. Hydraulically powered by the crane, the unit provides an additional auxiliary hoist that compensates for ship motions. The controls are integrated into the crane cabin. “All vessel owners know the dangers related to swinging loads due to a vessel’s motions,” said Safeway. “This causes dangerous situations for the crew and limits the vessel’s overall working capabilities. With CargoSafe, the vessel owner can suddenly use the vessel for more jobs offshore. CargoSafe is a logical step in development from our Safeway 3D technology. “We have often been asked by clients to increase
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the lifting capacity on our motion compensated gangway, but based on the trend of increased loadhandling requirements, we found it useful to develop a smart, special-purpose 3D cargo-handling tool,” said Van Aalst Group chief executive Wijnand van Aalst. With the addition to its product range of CargoSafe, Van Aalst Group now offers 3D motion stabilised personnel transfer with its Safeway system and 3D cargo transfer with CargoSafe. Basic design of CargoSafe has been completed, and a patent application has been filed. Detailed design is underway and will be completed at the end of February 2017. Recent months also saw The Netherlands-based SMST expand its product range with the SMST access and cargo tower, which it describes as “a complete package of tower with elevator and access bridge trolley system”. The modular setup of the new system with variable height adjustment settings allows safe and efficient transfer of both cargo and personnel. The access and cargo tower, which is available for purchase or rent, enables stepless transfer from multiple deck levels up to
CargoSafe uses a new 3D crane jib from Van Aalst Group
Offshore Support Journal | December 2016
26 | LOAD HANDLING
a turbine or other offshore structure. The height of the access bridge can be adjusted to the landing height of the platform. An integrated elevator with capacity for personnel and cargo pallets stops at several levels to optimise logistic performance of the vessel. The motion compensation system that is part of the access and cargo tower compensates for the movements of the vessel in all directions. Active and passive compensation are incorporated into the system. A rotating platform, for which SMST says a patent is pending, allows operators to work port and starboard of the vessel, resulting in maximum utilisation and performance of the system. The concept is certified according to
DNVGL-ST-0358 and based on proven components. In October, Dutch shipowner Vroon confirmed that one of its walk-to-work vessels, VOS Start, is to be fitted with Barge Master’s new Barge Master Gangway, a system that enables transfer of personnel and cargo. The Barge Master Gangway incorporates an access tower with elevator, providing stepless access. An adjustable pedestal enables it to connect at different heights. The vessel fitted with the gangway will be available for projects in the second quarter of 2017. “During the development of the gangway, we worked closely together with Vroon,” said Martijn Koppert, CEO of Barge Master. “We developed a total logistics solution for efficient
installation and maintenance of offshore platforms and turbines.” Mr Koppert said the Barge Master concept has a small footprint and is light and of modular design. “Our next-generation walkto-work vessel VOS Start will offer a very high standard of onboard accommodation for up to 60 client personnel plus a state-of-the-art walk-to-work configuration supported by Barge Master,” said Jan-Piet Baars, Vroon’s group director offshore. Seaway Heavy Lifting has awarded Dutch company Seatools a contract for the design and delivery of a piling template instrumentation and control system. The system will be used for the offshore piling operations on the Beatrice offshore windfarm. The contract includes the
complete mechanical, electric, hydraulic and software design of the pile template instrumentation and control system. Seatools also recently introduced an intelligent active heave compensation module, HeaveMate. It describes HeaveMate as an easy-tointegrate system for new and existing offshore and subsea equipment such as winches, cranes and launch and recovery systems (LARS). It can be delivered either as an OEM package with the essentials for heave compensation (black box controller with sensors and software) or as part of a complete turnkey system, including mechanical and hydraulic hardware. The system has already been delivered for a retrofit project in which a passively
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LOAD HANDLING | 27
Huisman ropes in crane contracts Huisman in The Netherlands has secured two contracts for cranes for offshore vessels. The first contract is from Japan Marine United Corporation for delivery of an 800-tonne pedestal-mounted crane (PMC). The second is from Jurong Shipyard for the delivery of a 100-tonne pedestal-mounted offshore crane (PMOC). Both cranes will be built at
Huisman China. Delivery of the 800-tonne PMC is due in April 2018, and delivery of the 100-tonne PMOC is due in March 2018. The PMC is the largest Huisman-built pedestal-mounted crane to date and will be used for the installation of offshore wind turbines. The crane will be installed on a newbuild vessel for Penta-Ocean Construction. OSJ
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compensated LARS was upgraded to an actively heave compensated system. By developing standardised, cost-effective active heave compensation (AHC) solutions with ‘smart tools’ for testing and commissioning, Scantrol in Norway has gained a growing share of the market for heave compensation equipment. Earlier this year, the company delivered its 65th active heave compensation system. Over the last few months, Scantrol has experienced increasing interest in its products, even in an otherwise slow market. It notes that most recent orders were for adding active heave compensation systems to existing winches and cranes. “This can be a cost-effective, valueadding solution for vessel owners to be competitive in a market with a limited number of new contracts,” the company notes. “In order to get a contract in today’s market, vessels are often required to have AHC equipment installed onboard. For operators that do not have this technology, the consequence can be that the vessel is excluded from the bidding process,” said a spokesperson for the company, noting that it has experienced a growing interest in AHC upgrades in the last 12–18 months, even for smaller vessels. Cranemaster in Norway recently introduced what it claims is the world’s largest passive heave compensator. The company said it has extended its product range to a safe working load of 1,000 tonnes and maximum stroke length of 4,000mm. The new unit has already proven its worth during installation of monopiles on the Rampion offshore windfarm off the south coast of the UK.
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Annual Offshore Support Journal conference | awards | exhibition 8-9 February 2017, London
NEW DATES FOR 2017
Annual Offshore Support Journal Conference, Awards & Exhibition 8-9 February 2017
The largest international conference for the offshore support industry Hundreds of industry professionals will converge on London on 8-9 February 2017 for the Annual Offshore Support Journal Conference, Awards & Exhibition. The 2017 event will see the industry transitioning to a new phase, with new preoccupations, challenges and opportunities. The offshore vessel market has been through tough times, but owners are already focusing on what the market will look like when it picks up. Identifying opportunities and preparing for a new kind of market will therefore be a key focus area in 2017: how companies can prepare themselves financially and technically; how to adjust manpower; and where the new opportunities will be. As ever, a highlight of the 2017 event will be the Offshore Support Journal awards and gala dinner. Innovation, operational excellence and achievement will be recognised on the night. You can nominate today at www.osjconference.com/awards The Annual Offshore Support Journal Conference, Awards & Exhibition is the OSV industry’s annual meeting point. Record numbers and strong representation from all sectors of the global community prove it.
www.osjconference.com
The European Dynamic Positioning Conference 7 February 2017
The conference will focus on the issues and challenges affecting the dynamic positioning market, the DP issues that affect the offshore vessel market as a whole, and on how, in a challenging market, DP can be used to make operations safer, more efficient and more cost-effective.
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Offshore Wind Journal Conference 7 February 2017
A unique event designed to meet the needs of companies already working in the offshore wind supply chain and those who want to move into the fastgrowing offshore wind sector. The programme is tailored for companies already working in the sector and for those looking to enter it as part of their diversification strategy.
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Nominate for the Annual Offshore Support Journal Awards 2017 today! The Annual Offshore Support Journal Awards is one of the most anticipated social events in the offshore support calendar. Each year over 500 attendees from all sectors of the offshore business gather in London to celebrate the industry’s best performances from the past year. Visit www.osjconference.com/awards where the shortlists will be announced shortly and voting will open online. Please note voting will close on 16 December.
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30 | OFFSHORE VESSEL DESIGNERS
Distinctive design helps Ulstein stand out from the crowd Recent months have seen hard-pressed yards used to building large numbers of offshore support vessels turning to the passenger ship sector – and securing contracts there
O
ver the last two years, the rate at which offshore support vessels (OSVs) are delivered into the market has declined, but the rate at which OSVs have been ordered has fallen off a cliff, forcing well known Norwegian yards such as Ulstein Verft and Vard to look elsewhere for orders. Vard has an advantage compared to some OSV yards in as much as it is owned by Fincantieri, a group with decades of experience of building cruise ships and other passenger vessels. Ulstein’s trump card in the cruise and passenger ship market is that it has a reputation for innovation, for doing things differently with its iconic X-BOW and X-STERN hullforms. The yards’ strengths have paid off, and both are recent entrants to the passenger ship sector. Ulstein Verft in Norway has diversified into the cruise ship sector by signing a contract for the modernisation and upgrading of the expedition cruise ship Sea Adventurer owned by Adventurers Partners and operated by Quark Expeditions. The ship is expected to arrive at Ulstein Verft in early April 2017 and will be refurbished by mid-June 2017 in time for the Arctic 2017 cruise season. Sea Adventurer was originally built in 1976 as Alla Terasova. The contract for upgrade works includes renovations to the ship’s interior, significant technical upgrades such as the replacement of main engines and gears, as well as the addition of new passenger cabins. The shipowner states the refurbishment will give the ship a new look and feel throughout. The interior renovations include outside cabins with en suites, spacious forward lounge and bar, the addition of new passenger cabins with new bathrooms in every cabin and upgrades to the main lounge and
Offshore vessel designers and builders such as Ulstein are moving into the cruise and superyacht segments
Offshore Support Journal | December 2016
dining room, gym and selected suites. There will also be significant technical enhancements, including two new engines, generators, gear boxes, drive systems and re-bladed propellers, giving increased fuel efficiency and a lower carbon footprint. Ulstein managing director Kristian Sætre said, “This is an important contract to us in a new segment. The shipowner wanted a quality partner, and even if it’s a demanding project with short delivery time, we will deliver on time with quality as always.” The company believes that the X-BOW hullform can help owners of passenger ships stand out from the crowd and distinguish themselves from competitors. “A vessel with X-BOW lines is unique and very different from the usual cruise vessels,” said the company, noting that the excellent seakeeping characteristics of the X-BOW will enhance comfort, safety and operability. The OSV designer and builder also recently signed a contract to build a superyacht for an as yet unidentified private owner who is said to be “one of the world’s biggest shipowners”. This will be the first vessel of this type Ulstein has designed and built and will use the X-BOW hullform that has been adopted for numerous offshore vessels. Gunvor Ulstein, Ulstein Group CEO, said the company was “very pleased” to have been chosen to develop the marine platform for the yacht and build it. Like the cruise ship upgrade, she said, “This is a very important contract for us in a new and interesting market.” The hull will be developed by Ulstein Design & Solutions. Exterior design, and the general arrangement will be supplied by the renowned yacht designer Espen Øino. The yacht will be delivered in the first quarter of 2018. Planning and engineering work has started, and the project will keep a significant part of the Ulstein Verft workforce in Norway occupied throughout 2017. German cruise operator Hapag-Lloyd Cruises, part of the TUI tourism group, has placed orders for two expedition cruise ships at Vard, which is majority owned by Fincantieri. Vard had disclosed the orders earlier but did not identify the owner concerned. The two vessels will be launched in 2019 and will be designed to the highest PC6 Polar-class standard. The interior design by Oceanarchitects will place the vessels in the luxury 5-star segment. These orders will bring Hapag-Lloyd’s cruise ship fleet to six and marks its expansion in the increasingly popular expedition sector. They will be able to cruise in the Arctic and Antarctica and warm water destinations such as the Amazon. Onboard Zodiacs will allow landings in otherwise inaccessible expedition areas. The ships will also feature a water sports marina with spa and fitness area and three restaurants. The 138m long, 22m wide vessels will measure 16,100gt, with passenger capacity for 240 passengers and up to 170 crew members. Earlier, Vard also won a contract to build two expedition cruise ships for Ponant. OSJ
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FIREFIGHTING SYSTEMS | 31
TYCO TEAMS WITH KUMERA FOR EXTERNAL FIREFIGHTING MARKET TYCO HAS ENTERED THE EXTERNAL FIREFIGHTING MARKET IN A PARTNERSHIP WITH KUMERA, THE WELL KNOWN SUPPLIER OF GEARBOXES AND PUMPS
Among the latest vessels with Kumera gearboxes is Seaways’ new infield support vessel Seaways 24
O
nce buoyant, with large numbers of units being ordered for offshore support vessels (OSVs) ordered when the oil price was high and the market booming, the market for external firefighting (fifi) systems is moribund currently but not completely without developments. September saw Tyco enter the market for fifi systems in association with Kumera, a long-standing supplier of gearboxes and pumps for the fifi market whose gearbox range is also known under the brand name Norgear. “With high quality components and control systems and world-class design expertise, Tyco Marine Solutions can deliver optimised, cost-effective fifi systems to any vessel and to any fifi class,” said Tyco. Under the agreement between the companies, Tyco Marine Solutions has selected Kumera as its exclusive supplier of gearboxes and pumps. Kumera has delivered front-end gearboxes to the fifi market for decades, with more than 7,500 gearboxes in
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operation today, the majority driving fifi pumps. “By selecting Kumera to deliver fifi pumps, the shipyard will receive a fully assembled, tested and certified gearbox/pump unit, ready for installation on a ship, without any alignment issues between gearbox and pump,” said Tyco. Kumera has developed a new gearbox, the FVIC-275, with an integrated FIFI 1` pump. This gearbox/pump unit is extremely compact and cost-effective and can also be used in ‘FiFi ½’ systems. “However,” said Tyco, “it should be noted that Kumera’s extensive range of front-end gearboxes is also very well suited to multiple power take-off (PTO) installations, where other auxiliary systems can be powered by the gearbox, together with the fifi pump. Typical applications powered are hydraulics, generators and compressors, with the option of including a built-in hydraulic clutch on all or some of the PTOs. Kumera reports having had a very good SMM exhibition in Hamburg in September 2016, and had a joint stand with Tyco. The company had on display a new unit optimised for external fifi equipment. “This compact, fully integrated gearbox/clutch and pump has the usual Norgear quality and is going to be a strong competitor in the fifi market,” said Kumera. “Having a joint stand with another company is unheard of at Tyco or Kumera,” said Kumera. “Doing so expressed our unique co-operation to deliver top-quality systems for marine fire-fighting.” The company said that, in addition to interest in fifi systems, it also saw a high level of interest in other products, such as its PTO gearboxes, particularly designs for alternative hybrid propulsion systems. Among the latest vessels to be fitted with Kumera firefighting gear is Seaways International’s latest newbuild, the Robert Allandesigned infield support vessel Seaways 24, the latest addition to Robert Allan’s RAmpage 5500-ZH class of infield support vessels. It was constructed at Keppel Singmarine in Singapore and bears the class notation A1, Offshore Support Vessel (AH, TOW, SUPPLY-HNLS, FFV1 + FFV 2, OSR-S1) ✠ DPS-2, ✠ AMS, ACCU, UWILD, Green Passport, ENVIRO+, SSR-GR B (300), BP125, BWT+, NBLES, CRC. The multifunction vessel has a wide range of capabilities, including firefighting with a fifi system with total pump capacity of up to 8,200 m3/hour. It has two 3,000kW MAK 9M25 main engines and two CAT MTA8 Z-drives each with two power takein (PTI) shaft connections turning CPP propellers. There are also two 560kW PTI electric motors for propulsion boost/economical speed/dynamic positioning operations, two main engine PTO gearboxes with two fifi pumps and two 1,200 ekW constant speed shaft alternators, plus two 830 ekW C32 and one 350 ekW C18 ship’s service gensets. This configuration allows a range of operating modes, one of which is FiFi 2 operation on main engines only. Kumera supplied the two dual-output gearboxes for the vessel that power the fifi pumps and the shaft alternators off the main engines. OSJ
Offshore Support Journal | December 2016
32 | ICE–CLASS VESSELS & EQUIPMENT
LNG-FUELLED ICEBREAKER BREAKS PATH TO THE FUTURE Polaris, a vessel described as the most environmentally friendly icebreaker ever built, could point the way towards a new generation of greener ice-class vessels – if the market picks up
T
he market for ice-class offshore support vessels has been hard hit by the downturn in the offshore oil and gas industry following the steep decline in the oil price. Exploiting offshore oil and gas reserves in the Arctic and sub-Arctic is an expensive business, more expensive than many deepwater projects in balmier climes that have been put on hold in the last couple of years. It might be that president-elect Trump’s plans for energy security in the US could provide a boost for exploration off the US coast, even in Alaska, where costs are high, but that remains to be seen. When the market does come back, Polaris, which was delivered to the Finnish Transport Agency earlier this year, could point the way for ice-class designs. Polaris is based on the Aker ARC 130 concept developed for the Finnish Transport Agency by Aker Arctic in co-operation with ILS Oy. Ice model testing was carried out at Aker Arctic’s ice laboratory. In fact, two icebreaking support vessels based on the Aker ARC 130 A concept, which is a further development of the Finnish icebreaker, are already under construction at Vyborg Shipyard PJSC in Russia. Built by Arctech Helsinki Shipyard for state-owned Arctia Icebreaking Oy, Polaris has an IMO Tier III and Baltic Sea sulphur emission control area (SECA)-compliant dual-fuel power plant capable of using both liquefied natural gas (LNG) and low sulphur marine diesel oil as fuel. A specially developed hullform and propulsion arrangement with three azimuth propulsion units – two in the stern and one in the bow – is designed to minimise ice resistance and maximise the icebreaking capability of the vessel.
Polaris has an IMO Tier III and Baltic SECA-compliant dual-fuel power plant capable of using liquefied natural gas and low sulphur marine diesel oil
Offshore Support Journal | December 2016
The main missions of Polaris are icebreaking and escort operations in all prevailing ice conditions in the Baltic Sea. The vessel is also able to undertake oil spill response operations, emergency towing and rescue operations at sea, year round. Polaris is an exceptional icebreaker by any standards, with a level of performance that exceeds that of other highly regarded Finnish icebreakers, Urho and Sisu, both built in the 1970s, which were widely recognised as the most capable icebreakers in northern Baltic conditions. One of its main roles will be breaking ice and assisting other vessels in difficult ice conditions in the northern Gulf of Bothnia, where ice ridges can grow to more than 10m thick.
Asymmetric stern enhances icebreaking capability Ice-class vessel specialist Aker Arctic has developed a new, asymmetric stern design for icebreaking vessels, which it believes will outperform conventional designs. It notes that icebreakers and ice management vessels typically have azimuth pulling type thrusters, with the propellers located very close to each other when they are turned inwards for ice flushing operations. However, if the amount of water they need in order to create the maximum flushing effect is limited, this can cause them to cavitate, vibrate and create noise. In this circumstance, flushing operations are not very efficient if the thrusters cannot be used at full power. “We have invented a solution to this,” said Aker Arctic’s project manager Riku Kiili. “By changing the stern design to an asymmetrical form, the thrusters can be installed lengthwise, well away from each other. There is more space in between the pods, and when turning them sideways for ice flushing, they get enough water and can blow the ice away using full power.” Extensive model testing seems to have vindicated the new design. Two stern designs were tested in conditions simulating level icebreaking capability with two different thicknesses of ice, breaking out from an ice channel stern first, breaking through an ice ridge and clearing brash ice. The results from the tests showed that the level icebreaking capability and the ability to break out from an ice channel remained the same but the asymmetric stern enhanced brash ice and ridge-clearing capability. In addition to ice management advantages and improved flushing capabilities, the new design showed improved dynamic positioning potential in some situations. OSJ
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PROPULSION | 35
NEW REQUIREMENTS FOR SHIPPING AS UN BODY ACTS ON EMISSIONS An important milestone on the road to controlling greenhouse gas emissions from shipping has been achieved with the adoption of mandatory requirements by the IMO, and a date of 2020 has been set for a significant reduction in the sulphur content of marine fuels
T
he International Maritime Organization’s (IMO’s) Marine Environment Protection Committee (MEPC) meeting in October was a momentous one in a number of respects. Under mandatory requirements agreed at MEPC 70, ships will have to collect consumption data for each type of fuel oil they use, as well as other, additional, specified data including proxies for transport work. The data collected will provide a firm basis on which future decisions on additional measures, over and above those already adopted by IMO, can be made. IMO secretary-general Kitack Lim said the new requirements sent a clear signal that IMO was ready to build on the existing technical and operational measures for ship energy efficiency. “The data collection system will equip IMO with concrete data to help it make the right decisions, as well as enhancing its credentials as the best placed and competent forum for regulating international shipping,” Mr Lim said. The new mandatory data collection system is intended to be the first in a three-step approach in which analysis of the data collected would provide the basis for an objective, transparent and inclusive policy debate in the MEPC. This would allow a decision to be made on whether any further measures are needed to enhance energy efficiency and address greenhouse gas emissions from international shipping. If so, proposed policy options would then be considered. The decision to implement a global sulphur cap of 0.50% m/m (mass/mass) in 2020 represents a significant cut from the 3.5% m/m global limit currently in place and demonstrates a clear commitment by IMO to ensuring shipping meets its environmental obligations. Mr Lim welcomed the decision, which he said reflected the IMO’s determination to ensure that international shipping remains the most environmentally sound mode of transport. Further work to ensure effective implementation of the 2020 global sulphur cap will continue in the Sub-Committee on Pollution Prevention and Response (PPR). Regulations governing sulphur oxide emissions from ships are included in Annex VI to the International Convention for the Prevention of Pollution from Ships (MARPOL Convention). Annex VI sets progressive stricter regulations in order to control emissions from ships, including sulphur oxides (SOx) and nitrous oxides (NOx),
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Although many offshore vessels already use low sulphur distillate fuels, or have adopted other solutions, the decision will affect the industry through a tightening of supply of low sulphur fuels and fuel price pressure
which present major risks to both the environment and human health. Under the new global cap, ships will have to use fuel oil on board with a sulphur content of no more than 0.50% m/m, against the current limit of 3.50%, which has been in effect since 1 January 2012. The interpretation of ‘fuel oil used on board’ includes use in main and auxiliary engines and boilers. Exemptions are provided for situations involving the safety of the ship or saving life at sea or if a ship or its equipment is damaged. Ships can meet the requirement by using low sulphur compliant fuel oil. Ships may also meet the SOx emission requirements by using approved equivalent methods, such as exhaust gas cleaning systems or ‘scrubbers’, which ‘clean’ the emissions before they are released into the atmosphere. In this case, the equivalent arrangement must be approved by the ship’s administration (the flag state). The new global cap will not change the limit in SOx emission control areas (ECAs) established by IMO, which, since 1 January 2015, has been 0.10% m/m. The ECAs established under MARPOL Annex VI for SOx are the Baltic Sea area, the North Sea area, the North American area (covering designated coastal areas off the United States and Canada) and the United States Caribbean Sea area (around Puerto Rico and the United States Virgin Islands). The implications of these and other decisions at the IMO for offshore vessels are discussed in the IMCA news section of this issue. OSJ
Offshore Support Journal | December 2016
36 | IMCA NEWS
Major changes to follow after latest MEPC meeting The most recent meeting of the Marine Environment Protection Committee at IMO was an especially important one says IMCA
T
he International Marine Contractors Association (IMCA) gained consultative (‘observer’) status at the International Maritime Organization (IMO) in 1999 and is the only association at IMO representing offshore marine contracting interests, and it is the 70th session of the IMO Marine Environment Protection Committee (MEPC 70), which met in London in October, that is currently uppermost in its mind. “Any MEPC session is a significant event, but this was particularly so,” said John Bradshaw, regulatory manager at IMCA, “making some decisions with huge implications for marine industries, including for marine contractors.” Agenda items included making a decision on a global sulphur cap for marine fuels; designation of new NOx emission control areas in the Baltic, North Sea and English Channel; reduction of greenhouse gases; and measures to improve the efficiency of shipping. The meeting agreed that marine fuels will be limited to a sulphur content of 0.5 per cent from 1 January 2020, although most IMCA members already operate using low sulphur distillate fuels. “This decision will affect the whole industry, as there will almost
certainly be a tightening of the supply of low sulphur fuels and consequent fuel price pressure,” said Mr Bradshaw. IMO continues to work towards lowering the greenhouse gas intensity of shipping, with the meeting making significant progress in its efforts to amend instruments and develop guidelines for mandatory recording of fuel use. IMO has a stated policy of reducing the greenhouse gas intensity
John Bradshaw: “IMO may sometimes seem to make slow progress, but MEPC 70 was a successful and hugely important meeting”
Offshore Support Journal | December 2016
of shipping using a threestep approach of quantifying emissions, analysing the data and then making decisions on reduction measures. “Whilst IMCA is supportive of this work, there are concerns that the analysis of the data collected will need to recognise the unique operational challenges of the offshore sector and that appropriate performance metrics are used when analysing the sector’s carbon footprint and possible reductions,” Mr Bradshaw explained. Ballast water management loomed large throughout the meeting. The ballast water experts attending the meeting worked some long hours and expended a huge amount of effort, and this was reflected in some key outputs from the meeting. In particular, amendments to the G8-type approval guidelines for ballast water management systems were agreed, along with a decision that these should become a mandatory code. Mr Bradshaw said there were still outstanding questions over the implementation schedule for the Convention as a result of the slippage in entry into force, meaning that the dates contained within the Convention are no longer relevant. Work will continue at MEPC 71 next year, and it is
hoped that these outstanding issues can be resolved then. The meeting agreed to designate the Baltic, North Sea and English Channel emission control areas as ECA-NOx, effective from 1 January 2021. Some additional provisions were agreed for ships being built within an ECA-NOx, or going to repair yards in these areas, to allow use of Tier II engines within the ECA-NOx under strictly controlled conditions. “IMCA is aware of some adverse reaction to the outcomes of the meeting, with some observers criticising the slow progress being made, particularly with respect to reduction of greenhouse gas emissions,” Mr Bradshaw said. “IMO is a consensus-based organisation, and any new proposals or agreements have to reflect the concerns of all members. Whilst it might be disappointing to those who would like much quicker action, we believe that the meeting did make real progress and that this should be welcomed. The objective of IMO is to balance the environmental sensibilities of the developed world with the legitimate concerns of emerging economies and small island nations. Overall, whilst almost all of us may be able to point to certain areas where we would like to see quicker progress or alternative outcomes, it should be recognised that some historic decisions were made at MEPC 70, and IMCA believes that it was a successful meeting.” OSJ
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COMPANY NEWS | 37
Cluster consortium prepared to invest in Olympic Olympic Ship AS in Norway, which has been seeking ways to refinance and twice extended a standstill agreement with secured lenders, says a consortium of local investors is willing to invest in a restructured Olympic group. In a statement, Olympic said that, subject to certain terms and conditions, including the successful completion of discussions with finance
providers and board approval of the investors, the consortium is willing to invest approximately NKr500 million (US$60 million), out of which approximately NKr400 million (US$48 million) is new liquidity. The investment is contingent on a restructuring of the group, which needs to be agreed with the finance providers. The current shareholders will be invited to participate in the share
issue on equal terms. Companies controlled by the main shareholder of the company, Stig Remøy, are among the investors in the consortium. The remaining parties in the consortium are investors with direct or indirect connections to the maritime cluster in Sunnmøre, Norway. “I am happy to have succeeded in establishing a local consortium that believes in Olympic and the company’s fleet. It is very positive that the maritime cluster in Sunnmøre has again proved its ability to find local solutions,” said Mr Remøy.
New company acquires job lot of ROVs A recently formed subsea services business has secured a substantial injection of private equity investment to acquire a fleet of 32 remotely operated vehicles (ROVs). Aberdeen and
Houston-based M² Subsea Ltd has attracted the investment from a fund advised by Alchemy Special Opportunities. M² Subsea claims it is set to become one of the largest
independent providers of ROV services globally and offer its customers safe, cost-effective solutions for inspection, repair, maintenance, decommissioning and light
Tschudi enhances African presence Tschudi Group has established Tschudi AngolaNavegação LDA, a new company that will expand its offshore activities in West Africa. The Angolan company emerges from Tschudi’s quest for a local partner with an understanding of the industry and will enable Tschudi to continue to provide high quality services to the West African oil and energy sector. Tschudi Offshore & Towage has an established track record of operating the
group’s anchor handlers offshore Angola and of port development with a dredging support vessel. “A local presence will further strengthen Tschudi’s foothold in Angola, giving the group a competitive advantage when tendering for projects and employing local seafarers and onshore staff,” said the company. “Clients will benefit from in-depth market knowledge and knowhow.”
Offshore training centre established Clyde Training Solutions (CTS) has opened central Scotland’s first dedicated marine and offshore international training centre. CTS – a newly established Clyde Group company – is offering an extensive range of onsite accredited maritime safety courses to an international market at its new complex on the banks of the River Clyde in Clydebank. Phase one of operations at the centre has created in the region of 30 jobs,
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with potential operational growth likely to create future employment. The centre offers multiple classrooms, dedicated deepwater pool, helicopter underwater escape training module and full fire training ground complete with training stack and helideck, all within easy reach of Glasgow Airport and Glasgow city centre. Accredited courses aimed specifically at the offshore and oil and gas industries are soon to follow.
Stig Remøy: “maritime cluster is coming together to find a solution”
construction. The recently established business expects to create at least 50 onshore and 100 offshore jobs operating primarily in the North Sea, Gulf of Mexico, West Africa and eventually Asia Pacific and the Middle East by the end of 2017.
Siem steps in as Farstad restructures Farstad Shipping and a company in the Siem Industries group have entered into a nonbinding letter of intent for the financial restructuring of Farstad Shipping. In a statement, Farstad said Siem or a fund managed by Siem would act as an equity investor in Farstad. In accordance with the letter of intent, Farstad Shipping and Siem are continuing discussions with stakeholders in Farstad Shipping group with a view to finding a solid financial platform for Farstad Shipping’s continued operations. Farstad said no further comments will be given at this stage. OSJ
Offshore Support Journal | December 2016
38 | SAFETY ALERTS
FUEL SPILL DURING BUNKERING Compiled using information provided by the Marine Safety Forum, www.marinesafetyforum.org
FUEL SPILL DURING IN-PORT BUNKERING’
While loading fuel in port, a platform supply vessel (PSV) reported a fuel spill. On discovering the spill, the job was stopped and clean-up actions initiated. During the morning, the vessel’s crew had been using a ‘jumper hose’ to discharge ‘old’ fresh water overboard using the aft starboard manifold, with the plan being to refresh the water tanks later in the day. As is common with this type of operation, while the water pump is running, all water manifolds in the system are under pressure, and this included the port midships water manifold. Unfortunately, the port midships manifold had a leaking valve, which allowed fresh water to pass through and out into the port midships drip tray, which in turn was filling up the port side drip tray and safe-haven with fresh water. As the morning progressed, a fuel bunkering checklist was completed and the vessel started bunkering fuel through the port midships manifold, an able seaman (AB) was in place to watch the fuel hose and check for any leaks. After approximately an hour bunkering, the AB/watchman reported that he could smell fuel. Although he couldn’t see where it was leaking from, he initiated an emergency stop and informed the shore side to stop pumping. He looked overboard and saw fuel in the water between the vessel and quayside. SOPEP equipment was deployed and booms put in place around the vessel to contain the fuel. Why did it happen /what was the cause? An investigation revealed that, during the bunkering process, fuel had been leaking from the fuel sample/drain cock (which is attached to the fuel manifold for the purpose of allowing fuel samples to be taken during fuel discharges) into the drip tray and draining overboard along with the fresh water originating from the water manifold. The root cause was the leaking freshwater manifold valve. The leak from this manifold allowed the drip tray and safehaven save-alls to fill up with water, which in turn meant the fuel escaping from the sample/drain cock lay on top of the water and hence spilled overboard. Contributory factors included failure to fully ensure the requirements of the pre-bunkering checklist were met. Despite the completion of a pre-bunkering checklist, the requirements of the checklist were not fully met and complied with. This included failing to ensure that the scuppers were properly plugged (the fuel-loading checklist required drip trays around bunkering connections to be empty and oiltight). It was found that the drip tray had water in it and that the drip tray plug
Offshore Support Journal | December 2016
was missing. Although a watchman was in place, there was a failure to maintain a proper watch on all areas from which fuel could leak. Among the corrective actions taken and recommendations made was a time out for safety (TOFS) meeting, which was held onboard the PSV. Items discussed included an overview of how the incident occurred and a reminder to ensure checklists are not only completed but also correctly complied with, in particular, paying attention to detail. Positioning of watchmen during bunker transfer operations was reviewed to ensure that all areas where leaks could originate from are regularly checked. The port midships freshwater manifold valve was immediately repaired and made watertight. The fuel manifold drain cock was repaired, thus ensuring fuel could not escape from it again. The incident involved two defective valves on different bulk cargo transfer systems. Correct and proper maintenance on all line valves and pumping systems was reviewed to ensure that pollution/cross-contamination and such like could not reoccur.
UNSAFE BOARDING OF VESSELS
A number of reports have been received of individuals boarding vessels via means other than the ship’s gangway. There are a number of similarities between the incidents experienced, including the fact that the individuals doing so were not ship’s crew and incidents took place whilst the vessel was preparing to sail or coming alongside. Others include the fact that there was no gangway out at the time, and individuals jumped aboard through open ship side doors. During one incident, a surveyor from a classification society boarded a vessel whilst it was still being made fast, having just come alongside. The side door had been open to facilitate monitoring of the launch and recovery of the rescue boat, however, the safety chain was across the space. The surveyor removed the chain and jumped from the quayside onto the ship. The aft mooring station had only just confirmed the vessel was all fast to the bridge, and the engines and thrusters were still running when the incident occurred. All vessels are requested to report any further instances to their QHSE department, ensure that ship side doors/pilot doors are kept closed when not in use and ensure doors are only open when needed – a chain should be placed across the doorway with a sign stating no entry whilst not immediately ready for use. OSJ
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40 | MARKET DATA
Statistics & trends Compiled using data and graphs provided by Seabrokers’ monthly market report Seabreeze
NORTH SEA DEPARTURES AND ARRIVALS
NORTH SEA AVERAGE RATES: OCTOBER 2016
DEPARTURES: Vessels that have recently left or are due to leave the North Sea spot market
CATEGORY
AVERAGE RATE OCT 2016
AVERAGE RATE OCT 2015
% CHANGE
Union Bear
Africa
£5,695
£3,336
71%
Union Lynx
Africa
supply duties PSVs <900m2
Union Manta
Africa
supply duties PSVs >900m2
£3,920
£3,185
23%
Union Princess
Africa
Union Sovereign
Africa
supply duties AHTS <18,000 bhp
£7,150
£5,148
39%
supply duties AHTS >18,000 bhp
£9,696
£6,035
61%
ARRIVALS: Vessels that have recently arrived or are due to arrive on the North Sea spot market Ben Nevis
Ex Black Sea
Makalu
Ex Black Sea
Olympic Hercules
Ex Africa
Olympic Pegasus
Ex Africa
Olympus
Ex Black Sea
NORTH SEA SPOT AVERAGE UTILISATION: OCTOBER 2016 MONTH
MED LARGE PSV PSV
NORTH SEA AVERAGE RATES: OCTOBER 2016
MED AHTS
LARGE AHTS
Oct 2016
66%
76%
42%
50%
Sep 2016
60%
76%
51%
65%
Aug 2016
68%
85%
68%
71%
Jul 2016
73%
87%
64%
79%
Jun 2016
80%
96%
66%
76%
May 2016
81%
86%
46%
56%
CATEGORY
MINIMUM
MAXIMUM
supply duties PSVs <900m2
£2,000
£12,000
supply duties PSVs >900m2
£2,000
£7,214
supply duties AHTS <18,000 bhp
£5,900
£8,000
supply duties AHTS >18,000 bhp
£6,000
£32,500
OSVs RECENTLY DELIVERED VESSEL
DESIGN
OWNER/MANAGER
COMMITMENT
Hai Yang Shi You 677, 678 & 679
Wärtsilä VS 4612 AHTS
COSL
Far East
Normann
Havyard 843 ICE AHTS
Femco
Russia
Pinguim
Damen 5000 PSV
Wilson Sons Ultratug Offshore
South America
Polaris
110m LNG Icebreaker
Finnish Transport Agency
Baltic Sea
Pomor
Havyard 843 Ice AHTS
Femco
Russia
Offshore Support Journal | December 2016
www.osjonline.com
MARKET DATA | 41
LEFT: Anchor handler availability rose towards the end of October
DAILY AVAILABILITY: OCTOBER 2016
PSV 2016
PSV 2015
AHTS 2016
AHTS 2015
BELOW LEFT: The oil price remained in the US$45-50/ barrel price range in October
34 32 30 28 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 31
OIL PRICE VERSUS RIG UTILISATION $80
100%
$75 90%
85.1% 84.6% 84.0% 83.2% 83.1% 82.3%
80% 70%
$70 78.6% 77.1%
76.9% 75.4% 75.9%
75.1% 74.3% 74.8% 76.3% 76.4%
$60 74.2% 72.9%
$55 69.2% 68.2% 68.0% 66.3% 64.6%
60% $46.99 44.4% 46.9%
40%
44.5%
39.2% $30.80
57.4% 57.7%
$45.07
$46.14
$46.19
$51.20
$33.20
$39.07
39.1%
$50 $45 $40
$42.25
42.5%
$37.72
60.5%
$48.48
$47.13 $44.42
50%
$65
$35 39.9%
$30
38.2%
37.2%
36.4%
35.5%
Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16
Jul 16
Aug 16 Sep 16 Oct 16
30%
35.1%
average Brent Crude US$/Bbl
Northwest Europe rig utilisation
South America rig utilisation
US Gulf rig utilisation
35.6%
$25
EUROPEAN BUILT SUBSEA DELIVERIES (NEXT THREE MONTHS) SHIPOWNER
NAME
CHARTERER
SHIPYARD
TYPE
DESIGN
MONTH
Technip
Deep Explorer
-
Vard Langsten
DSV
Vard 3 06
Nov
Technip
Skandi Buzios
Petrobras
Vard Soeviknes
Pipelay
Vard 3 06
Nov
Seven Cruzeiro
Petrobras
Merwede
Pipelay
-
Dec
Subsea 7
www.osjonline.com
Offshore Support Journal | December 2016
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MARKET DATA | 43
Offshore vessel values
October 2016 Values remained largely stable in October 2016, with slight firming for modern vessels. Older vessel values softened slightly PSVs
AHTS & AHT
Maersk Fighter (4,600 dwt, built 1992, Ulstein Verft) and Maersk Feeder (4,600 dwt, built 1993, Ulstein Verft) were sold to Karadeniz Holding. The vessels will be modified and removed from the OSV market. VesselsValue estimates the deal to be worth US$2.7 million.
Tarka (2,244 bhp, built 2004, Damen) was sold to an undisclosed buyer by Miclyn Express Offshore.
There were five PSV sales in October 2016.
There was one AHTS sale in October 2016.
Havila Princess (3,700 dwt, built 2005, Kleven Verft) was sold to Bakkafrost by Havila Shipping. The vessel is expected to be renamed Martin. VesselsValue values the vessel at US$6.26 million. The small PSVs Gulf Supplier (1,000 dwt, built 1976, Rockport Yacht and Supply Co) and Olivia Candies (1,800 dwt, built 2008, Candies Shipbuilders) were sold to undisclosed buyers by IMI del Peru and Otto Candies, respectively.
Source: VesselsValue.com
Owners continue to sell vessels to help cashflow â&#x20AC;&#x201C; Island Patriot was sold by Island Offshore earlier this year
44 | MARKET DATA
OFFSHORE VALUES: OCTOBER 2016 BUILT
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
LARGE PSV
MEDIUM PSV
SMALL PSV
SUPER AHTS
MEDIUM AHTS
SMALL AHTS
1.0%
1.0%
0.9%
-0.3%
1.3%
1.3%
5.2k
3.6k
1.7k
24k
8k
5.2k
0.9%
0.9%
0.8%
0.3%
1.2%
1.2%
4.8k
3.6k
1.7k
24k
8k
5.2k
0.6%
0.7%
0.7%
0.2%
1.1%
1.0%
4.8k
3.4k
1.7k
24k
8k
5.2k
0.4%
0.5%
0.5%
0.2%
0.8%
0.8%
4.8k
3.3k
1.7k
24k
8k
5.2k
0.1%
0.2%
0.2%
0.2%
0.7%
0.8%
4.8k
3.3k
1.7k
24k
8k
5.2k
-0.3%
-0.2%
-0.2%
0.1%
0.6%
0.5%
4.8k
3.3k
1.6k
24k
8k
5.2k
-0.7%
-0.6%
-0.7%
0.1%
0.5%
0.4%
4.8k
3.3k
1.6k
24k
8k
5.1k
-1.1%
-1.0%
-1.2%
0.1%
0.4%
0.4%
4.8k
3.3k
1.6k
24k
8k
5.1k
-1.6%
-1.6%
-1.6%
-0.0%
0.2%
0.3%
4.8k
3.3k
1.6k
24k
8k
5.1k
-2.0%
-2.0%
-2.1%
-0.1%
-0.0%
0.3%
4.8k
3.3k
1.6k
24k
8k
5.1k
-2.5%
-2.6%
-2.4%
-0.2%
-0.0%
-0.7%
4.8k
3.3k
1.6k
24k
8k
5.1k
-3.1%
-3.0%
-3.1%
-0.3%
-0.0%
-0.0%
4.8k
3.3k
1.6k
24k
8k
5k
-3.6%
-3.4%
-3.6%
-0.4%
-0.0%
-0.0%
4.8k
3.3k
1.6k
24k
8k
5k
-3.9%
-4.2%
-4.1%
-0.5%
-0.0%
-0.0%
4.8k
3.3k
1.6k
24k
8k
5k
-4.6%
-4.5%
-4.1%
-0.6%
-0.7%
-0.0%
4.7k
3.3k
1.6k
24k
8k
5k
-4.8%
-5.1%
-4.8%
-0.8%
-0.0%
-0.0%
4.7k
3.3k
1.6k
19k
8k
5k
This table shows the monthly percentage change in value from 1st to the 31st October 2016 for OSV vessels. by year of build.
Offshore Support Journal | December 2016
www.osjonline.com
VROON OFFSHORE SERVICES CONNECTING MARKETS
VROON OFFSHORE SERVICES provides a diverse range of services and solutions for key offshore-support needs, including platform supply, emergency response and rescue, anchor handling, walk to work and subsea support. With a versatile fleet of more than 100 vessels and 2,500 skilled and dedicated colleagues, we are committed to providing safe, reliable and cost-effective services. We have the fleet to meet your needs, the people to deliver and the determination to succeed.
ABERDEEN | DEN HELDER | GENOA | SINGAPORE
Find us on:
WWW. VROONOFFSHORE.COM
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