NSRV11

BRAEMAR SEASCOPE OFFSHORE MONTHLY MAGAZINE Sept/Oct 2012

ISSUE: 55

MARKET NEWS & ANALYSIS VESSEL DAYRATE CHARTS RIG NEWS

©Braemar Seascope Offshore

Click Here to go to Online Version

Subsea Market Latest

Welcome to the latest edition of the Braemar Seascope Offshore North Sea Vessel Report. As the summer comes to a close and the weather in the North Sea begins to take a turn for the worse we are seeing a marginal rise in dayrates. As the report goes to print, cargo runs are being fixed at around GBP 14,000 to GBP 16,000 and AHTS rates are around GBP 13,000 to GBP 18,000.

Signals for future drilling and offshore activity are encouraging with rig activity strong going into 2013 and rigs already being fixed for programmes in 2014.

The UK Government has also signalled a change to its tax scheme to encourage additional investment in older oil and gas fields in the North Sea.

Average dayrates for spot AHTS fixtures in August were GBP 14,779 and GBP 17,797 for large and medium vessels respectively. Meanwhile, PSV rates were GBP 6,672 and GBP 5,933. September average rates are expected to come in marginally higher than those for August.

We hope you find the latest edition of our report useful and look forward to hearing your feedback and comments.

The next edition of this report will be out November 1st.

Sean Bate Market Analysis Manager research@seascope.co.uk

Click here to leave Feedback

For the latest on the subsea construction and survey vessel availabilities please contact us for a copy of our Subsea Vessel Market Summary. We are constantly monitoring the requirements, fixtures and availability of the North Sea fleet. For more information please email us.

Broker Commentary

I

t has been a busier time on the Norwegian continental shelf for the platform supply market although medium PSV term rates remain at low levels due to a general oversupply.

Major action this month has come from Statoil, only a month or so after awarding mulit-year contracts for a range of newbuild LNG supply ships. In September, Statoil confirmed medium term deals on large platform supply vessels commencing this autumn, the majority being for six months plus options. This included introductory charter of Farstad’s technologically advanced ‘tanker compliant’ Far Solitaire which has recently received a ship of the year award. Statoil has also used the exercise to award extended contracts to a few existing vessels into 2013.

Elsewhere it has been a busy time for Eidesvik who have been repositioning their PSV fleet. The Viking Princess, which was named on September 13th in Bergen, goes straight onto long term charter with Statoil releasing the Viking Prince. Lundin has taken on the Viking Prince to relieve the LNG PSV Viking Lady which is on the spot market ahead of a contract with the Leiv Eriksson Consortium commencing in February 2013. She will be joined on this contract by the Viking Athene. In September, Eidesvik has also taken delivery of the Viking Fighter which is on charter with ENI Norway and will later work for MLS in the Barents Sea.

GRAEME RIDDELL Shipbroker - Offshore (MICS)

Click Here to Email Graeme Aberdeen@seascope.co.uk Tel: +44 (0)1224 628 470

platform supply vessels were issued to the market. The In the UK Continental Shelf we saw a modest increase majority of these being on the UK side for in the PSV spot market “A number of vessel around 1 year plus options and against where demand lifted rates above those seen in previous sales have also been existing medium sized tonnage. Pipelay operation offshore Shetland at Laggan/ months. A change in weather announced this month.” Tormore are ongoing but will soon come conditions, rigs switching to an end for the year. A number of specontracts and planned field cialist project works are also expected this month for shutdown maintenance work added to the demand.

PSVs including the Olympic Commander’s infield deep Elsewhere a good number of term requirements for core geotechnical survey work at Rosebank and Island Centurion’s flushing work for Subsea 7.

A number of vessel sales have also been announced this month including the FD Reliable, FD Incredible and the Ocean Mainport. It is expected that each of these vessels will depart the North Sea oil and gas markets for work either abroad or in different sectors. However, there are a number of impending newbuilds and the latest to be delivered to the market are the Blue Prosper and Island Contender. (continued overleaf….)

Broker Commentary

O

n the AHTS side a number of FPSO projects September and October are traditionally the peak fixing have been ongoing through the month. In months for the North Sea due to changing weather conthe UK, several AHTS vessels including ditions and bunching rig moves. However, the large some fitted with numbers of vessels available on the spot work class ROV systems have could mean that dayrates fail to “Underlying oversupply market been used to perform heading spike in the same manner that they control and anchor reconnecmeans a dip in rates is have done in previous years before we tion duties with the FPSO move into the traditional winter lull in never too far away.” activity.

Gryphon Alpha for Maersk Oil. These vessels include the Maersk Laser and the Maersk Lifter.

Preparation work is also being carried out for the hook up of the Sevan Voyageur at the Huntingdon field and tow of the Banff FPSO into Hamburg for yard refit. These and other projects at the FPSO Anasuria and Haewene Brim overlapped with increased demand for spot AHTS vessels to carry out rig moves and there were brief periods of intense fixing with the likes of BP Norge and Statoil contracting multiple ships for rig moves and pre-lay mooring ops in rapid succession.

Despite this and a number of off-market fixtures the underlying oversupply of AHTS vessels has meant that a dip in rates has never been too far away.

SPEC BOX Blue Prosper Design: PX 121 Manager: Remoy Shipping AS LOA: 83.4m Beam: 18m DP: 2 Deck Area: 850m³ Accom: 24 X-Bow Hull Design Click here for full spec

Blue Prosper

Chartering

Long-Term Requirements

There are nine outstanding long-term requirements: 1 x PSV / Nexen / 1 year + 1 x 9 mnth opt / Sept 2012 1 x PSV / Maersk Oil / 3-5 ys + 2 x 12 mnth / Sep-Mar 2013 1 x PSV / Apache / 1, 3 or 5 yrs +1yr / Sept-Mar 2013 1 x PSV MOG / 1 yr + 1 yr opt / Oct 2012 1 x PSV / Centrica / 1 yr + 1 yr opt / Oct 2012 1 x PSV / Enquest / 1,2, years + 2 yr opt / Oct-Nov 2012 2-3 AHTS / Exxon Canada / 2 yrs + 3x1yr opts / 2012-2013 1 X PSV / Taqa / 1 yr + 1 yr opt / Jan-Mar 2013 1 x PSV / BP N / 5 years + 5 x 1 yr opt / comm 2013-2015

Medium-Term Requirements There are six outstanding medium-term requirements: 1 x PSV / ASCO / 1 well (c. 50 days) comm mid Sept 1 x PSV / Premier Oil UK / 2 wells firm 90 days / Sept-Oct 1 x AHTS / Saipem / Towing ‘Castoro 7’ / 55 days/ Late Sep 1 x PSV / Senergy / 1 well (100 days)+1 well opt / Mid Oct 1 x PSV / Ocean Rig / Fuel Supply (80 days) / 1-5 Nov 1 x PSV/ERRV / AGR N / 1 well c 90 days / May 201

MLS Charters PSVs for Transocean Arctic The large PSVs Evita and Viking Lady have been chartered

by MLS to support drilling work being carried out by the Transocean Arctic. The vessels have been fixed for 40 days firm plus 50 daily options and one well respectively. The Evita (ex Ugland Supplier) VS-485 MKII was fixed at a dayrate of around GBP 12,365 and the VS-493 LNG designed Viking Lady has been chartered on a rate of GBP 14,500.

The Evita is expected to commence the work in early October with the Viking Lady beginning in late October.

Brage Trader Supporting Ensco 101 The Brage Trader has been fixed to support the Ensco 101 rig for four weeks firm plus three one-week options.

The large PSV has already commenced the contract with Maersk and is expected to be working until the middle of October. The Brage Trader is a 2012-built STX PSV 09 designed vessel equipped with DP2 and a deck area of around 1,000 square metres. The vessel is understood to have been fixed at a dayrate of around GBP 12,500. ©Copyright Braemar Seascope Offshore 2012

Chartering

Maiden Charter for Blue Prosper

Blue Ship Invest’s latest PX121 has been delivered by Ulstein. The vessel is the second in a series of four sister ships that will be managed by Remoy Shipping. The Blue Prosper is equipped with a deck area of 850 square metres, DP2 and accommodation for 24. The vessel has already undertaken its maiden charter carrying out spot work for SPD. Meanwhile, its sister ship Blue Fighter, which was delivered in January is currently carrying out term work for Apache.

Statoil Takes on Five Vessels for Term Work Statoil has chartered five PSVs for term periods between three and 12 months firm plus options. The vessels are the Troms Artemis, Troms Sirius, Siddis Mariner (all 6 months + 3 month opts), Far Solitaire (3 months plus 3 month opts), and the Vestland Mistral (1 year firm plus 3 x three month opts). The vessels will be utilised in a general pool support role by Statoil.

Total Norway Charter for Siem Newbuild Siem Offshore has been awarded a four year contract for a large newbuild PSV. The deal with Total Norway will see the vessel working on the Martin Linge field in the North Sea with commencement between May and August 2014.

The Wartsila Ship Designed vessel will have a dual fuel system for the use of either LNG or marine diesel oil. It will also have a deck area of around 968 square metres.

The contract also includes a further four one-year options on top of the firm period.

Normand Arctic Goes to DONG DONG has chartered the LNG PSV Normand Arctic to support the West Navigator drillship. The 2011-built vessel has been fixed for two wells firm and is expected to be on charter for between 90 and 110 days. The Normand Arctic is an STX PSV 12 LNG designed vessel equipped with a deck area of around 938 square metres, DP2, Oilrec and ICE-C. The vessel was chartered on a dayrate of around GBP 14,000. ŠCopyright Braemar Seascope Offshore 2012

Chartering

Rem Supporter Chartered by Suncor

Suncor has fixed the Rem Supporter to carry out support work for the WilHunter rig. The vessel has been fixed for two wells which is expected to equate to a duration of around 200 days. The STX 06 CD designed vessel was fixed at dayrate of around GBP 14,100. The Rem Supporter, which was delivered in January this year, has a deck area of around 1075 square metres, the vessel is also DP2, ICEC, Oil Rec and Clean Design.

ENI Norway Fixes Viking Duo ENI Norway has a taken on a pair of Eidesvik PSVs for 88 days firm plus 30 additional days of options. The vessels are the VS 470 MKII designed medium PSV Viking Athene and the 2012-built large PSV 08 CD designed Viking Fighter. The vessels will be carrying out general supply and standby work in support of the Transocean Spitsbergen rig.

Gryphon & Anasuria FPSO Work Ongoing There are a number of FPSO operations currently under way in the North Sea. These include the repositioning of the Gryphon Alpha back on its field. Maersk Oil has the Maersk Lifter and the Maersk Laser currently fixed for the Heading Control work. Meanwhile, the Stril Commander is carrying out duties for Shell UK with the Anasuria FPSO. The Stril Commander is expected to conclude its work by the middle of October. The Maersk vessels could continue to work with the FPSO until the end of October.

BP Takes on VOS Producer The medium PSV VOS Producer, formerly Rig Expess, has been fixed on a long-term charter with BP. The vessel will be carrying out supply duties for nine weeks firm with two additional one week options. The VOS Producer is a 2006built vessel equipped with a deck area of around 663 square metres. The vessel is currently expected to be working with BP until around the end of September when it is expected to return to the North Sea spot market. ŠCopyright Braemar Seascope Offshore 2012

Corporate

Statoil & Rosneft Sign Cooperation Deal

A cooperation deal that will establish joint ventures for four offshore Russian license areas has been signed between Statoil and Rosneft. The areas in Perseevsky in the Barents Sea and Kashevarovsky, Lisyansky and Magadan 1 in the Sea of Okhotsk. Statoil will fund 100% of the cost in the exploration phase which includes and obligatory work program of six wildcat wells to be drilled between 2016 and 2021. The deal will also see further cooperation and exchange of management and technical personnel.

Talisman Appoints New President & CEO Talisman Energy has announced the appointment of Hal Kvisle as President and Chief Executive Officer following the stepping down of John Manzoni who has been with the company since 2007. Hal Kvisle has formerly been a director of Talisman Energy and has more than 35 years experience in domestic and international oil and gas. Talisman currently has three main operating areas: North America, the North Sea and Southeast Asia.

47 Companies Apply for Norwegian Acreage There has been record interest from oil companies in Norwegian acreage. According to the Norwegian Petroleum Directorate 47 companies have applied under the Awards in Predefined Areas scheme. Among the companies are: Bridge Energy, Edison International, Enquest, Explora Petroleum as well as Statoil, ExxonMobil and Total. Awards under the scheme are expected to be announced in early 2013.

Shale Study by European Commission The European Commission’s joint research commission has released a market report on the potential for shale gas production and its impact on the energy mix of European members. The report covers potential issues with the environmental impact of unconventional energy sources and the increased global market for liquefied natural gas (LNG). A copy of the report can be found here. http://ec.europa.eu/dgs/jrc/downloads/ ŠCopyright Braemar Seascope Offshore 2012

38 Rigs Sold to New Co

Strength in the North Sea rig market continues with further fixtures and extensions through to 2013. The latest deal will see Awilco’s WilHunter fixed with Hess for 400 days next year from April. The rig has previously been working for Ithaca and is currently set for work for Suncor.

Meanwhile, Talisman has taken on the Rowan Stavanger for a further two months in addition to its existing contract. The rig will now remain with the company until April next year.

In addition BP has exercised an existing option for the Borgholm Dolphin Accommodation unit which will now work for an extra month. The contract is in

direct continuation of its existing contract and has a value of around USD 5.7 million.

There has been a lot of activity in Transocean with the rig owner repositioning its fleet (see box on right). There has also been a new contract in the UK North Sea for the Transocean Prospect.

General figures for rig utilisation are indicating 91.8% for Europe - North Sea with 78 rigs out of a potential 85 currently working. This is marginally higher than 12 months ago (91.3%) and slightly up on the rig utilisation of 6 months ago at (89%).

Transocean has sold 38 shallow water drilling rigs to a newly-formed company Shelf Drilling for approximately USD 1.05bn. The sale price for the fleet, which includes 37 jack-ups and one swamp barge, is made up of USD 855 million cash and USD 195 million in seller financing. The fleet ranges in ages from 1974 through to those refurbished in the mid 1990s.

Full details of the fleet can be found at the link b e l o w : www.shelfdrilling.com

Rig Chart Rig Activity by Type and Country Norway UK/Irl

Drillship Jackup Semi-Sub Total

1

1

8

19

18

17

27

37

Denmark Netherlands

Stacked without future contract

Stacked with future contract Total 2

3

3

6

6

Shelf Drilling Rigs Bought From Transocean

1

4

41

2

6

43

3

10

86

$140

Jan-05 Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07 Mar-07 May-07 Jul-07 Sep-07 Nov-07 Jan-08 Mar-08 May-08 Jul-08 Sep-08 Nov-08 Jan-09 Mar-09 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 Jul-12

Bunker Price GBP/MT

Bunker Price 700

Bunker Price in Aberdeen 2011 to Present

650

600

550

500

450

Price courtesy of Scandinavian Bunkering, subject to supply method, volume and market fluctuations.

Oil

Price 2005 2005--2012

$120

$100

$80

$60

$40

$20

$0

Standby/ERRV

Vroon Places Order For Four 60m Vessels

Vroon Offshore has ordered four MRV's from Fujian shipyard in China with delivery scheduled from 1st Quarter 2014 onwards. The 60m units will be equipped with a 300m2 deck & DP 1 with an option to upgrade to DPII. This augments a previous order for six standard / 50 metre units at the Nanjing shipyard in China with the first delivery of this batch due in the 2nd quarter of 2013. Vroon has already taken delivery of 19 newbuildings since 2007 which has dramatically improved the age profile of their 50 strong UK fleet.

Petrofac Tendering for Kittiwake Support Petrofac is tendering for a standard vessel to support the Kittiwake platform from January 2013. The 1-3 year requirement is understood to be against the VOS Protector. With the majority of fixtures being concluded 'off market' over the last few months 'open market' tenders are few and far between although it is understood that Premier has still not publicly announced who has won their 18-24 month requirement for support of a drilling programme with the WilPhoenix from October.

VOS Sentinel Fixed to Suncor Suncor has fixed the VOS Sentinel for 2-3 wells (circa 150 days) from mid September to support a drilling programme with the Wilhunter in the Central North Sea. The rig and vessel package had previously been on charter to ADTI for a one well programme. ADTI has recently chartered the vessel Ocean Swan for a 1 well (circa 120 days) contract for support of the Ensco 101 rig in the South North Sea with commencement from November.

UK Fleet Up by 3 But Market Remains Tight The UK fleet has increased by three units over the last month or so but as a testament to the strength of the market all had charters lined up. Newbuild Grampian Defiance commenced a two well charter with DONG supporting the drillship West Navigator West of Shetland, the 2010 built MRV VOS Enterprise will support the Transocean John Shaw for Taqa and the 1971 built Glomar Commander, which was modified from a Nogepa / Dutch certificated unit, is with Shell in the Southern basin for the next 5-6 months. ŠCopyright Braemar Seascope Offshore 2012

Subsea

Deep Energy Gets Reels

Technip's large newbuild pipelayer has received its two 800 mton reels. The vessel, which is being built at STX Europe Florø will be one of the largest pipelay vessels ever built, with a high transit speed of 20 knots and will join the fleet in 2013. SAL Heavylift's vessel MV Lone transported and unloaded the reels. According to SAL Heavylift the extreme height of the reels meant the Lone's cranes were pushed to their limit in regards to outreach and lifting height.

McDermott to Build Pipelay Vessel McDermott International has announced plans to build a sister ship to its subsea construction vessel North Ocean 105. The vessel, Lay Vessel 108, will be built at Metalships and Docks shipyard in Vigo Spain and is expected to be delivered in the third quarter of 2014 for outfitting of the lay system. The vertical reel will have a payload of 2,500 tons and will be able to install pipe between 4-in and 16in in diameter. In addition it will have a 400t heave compensated crane and transit speed of 15 knots.

Pieter Schelte Construction Progressing Building work on the large-scale pipelay, platform installation and decommissioning vessel Pieter Schelte is progressing towards potential sea trials in 2013 before it enters service in 2014. The vessel will have an LOA of 382m, a lift capacity of 48,000t and double the pipelay tension capacity of Allseas' existing pipelay vessel Solitaire at 2,000t. The vessel is currently under construction at Daewoo's Okpo yard in South Korean.

North Sea Role for Blue Orca Baker Hughes has contracted Edison Chouest's newbuild well stimulation vessel Blue Orca for a contract in the North Sea. The vessel, which was formerly known as Hull 280, will be carrying out the contract for Maersk Oil upon completion in late 2013. The vessel will be rated to 15,000 psi and will feature one of the largest fluid and proppant carrying capacities in the world according to Baker Hughes. ŠCopyright Braemar Seascope Offshore 2012

Renewables

Freiderich Ernistine Arrives in UK

The newbuild jack-up windfarm installation vessel has arrived in the UK in preparation for its first work at the Gwynt y Mor offshore windfarm. The Freiderich Ernistine has an LOA of 100m, beam of 49m and is capable of transporting and installing up to three wind turbine foundations or four turbines including tower, nacelle and three blades. The EUR 100m vessel will be working alongside the heavy lift vessel Stanislav Yudin.

Searoc Charters MPI Adventure Marine engineering company Searoc has fixed the wind turbine installation vessel MPI Adventure to carry out the installation of an offshore hub. The work to put Narec's Offshore Anemometry Hub (NOAH) in position three nautical miles off the coast of Northumberland will take place in October. It will collect wind speed and environmental data ahead of the proposed Blyth Offshore Wind Demonstration Site. The hub consists of a 635t tripod foundation, 100t platform and 25t met mast.

Seacat Clocks Up 1,000 Hours at Anholt The windfarm support workboats Seacat Reliance and Seacat Endeavour have picked up a combined total of 1,000 hours of uninterrupted service working on the Anholt windfarm off the coast of Denmark. The vessels, which have been operating in water depths of between 14 and 17 metres, are on contract to cable manufacturer Nexans. Dong Energy's Anholt windfarm has been under construction throughout 2012 and consists of 111 turbines that are set to produce over 400MW of power.

Renewables Report For further details of the recent movements in the renewables market please see the latest edition of our Renewables Report which can be viewed online by clicking here. If you would like to be included on the distribution list for this report please email research@seascope.co.uk . Our brokers are dealing with an increasing amount of work in the Renewables market, please feel free to get in touch with your requirements or to discuss the market in general. ŠCopyright Braemar Seascope Offshore 2012

Sale & Purchase

Ocean Mainport Sold to Windfarm Company

The 1976-built large PSV Ocean Mainport has been sold

by Atlantic Offshore. The vessel is the third vessel that Atlantic Offshore has sold to the windmill industry and its new owners are expected to utilise the vessel shortly in the renewables sector. The vessel is a UT-705 designed pipe carrier with a deck area of around 870 square metres, accommodation for 34 personnel and under decks for Fuel Oil, Mud, Brine, Fresh Water and Ballast/ Drillwater.

SMIT Adds Tugs to Fleet SMIT has announced two new arrivals to its fleet with the anchor handling tugs Union Sovereign and Union Princess.

The vessels, which will be managed from SMIT's Antwerp office have bollard pulls of 180t. The vessels were purchased from JP Knight and are the former UK ETV UT719-T designed Anglian Sovereign and Anglian Princess with an LOA of 67.40m, breadth of 15.50m, draft of 6.20m and DWT of 1,800t. The addition of the Union Sovereign and Union Princess takes SMIT anchor handling fleet to 16.

Energy Exerter Rig Sold for USD 43.5m Northern Offshore has announced that it has entered into an MOA for the sale of the jackup drilling rig Energy Exerter for USD 43.5M. The deal is expected to be closed by October 19th although details of the buyer have yet to be revealed. The Energy Exerter is a 1982-built CFEM T-2005C self elevating cantilever jackup capable of working in a max water depth of 300ft and has a max drilling depth of 25,000ft.

ITC Tempest & Typhoon Sold International Towage Contractors (ITC) has sold their 1976 built AHT vessels Typhoon and Tempest. The company originally purchased the pair in 2005 when they were the Smitwijs Typhoon and Smitwijs Tempest. Indus Shipping & Trading Corp is the new owner of the Tempest and has renamed the vessel Indus. Meanwhile, the Typhoon has become Gudri after being bought by Gudri Shipping & Trading Corp.

The tugs have a maximum bollard pull of around 120t and a bunker capacity of almost 1,000 cubic metres. ŠCopyright Braemar Seascope Offshore 2012

AHTS Dayrates

Average North Sea Spot AHTS Rates 2011/12

£90,000

£80,000

£70,000

Average Spot Dayrate

£60,000

£50,000

£40,000

£30,000

£20,000

£10,000

£0

Jan

Feb

Mar

Apr

Large - AHTS (16,000+ BHP) 2011

May

Jun

Medium - AHTS (12-15,999 BHP) 2011

Jul

Aug

Large - AHTS (16,000+ BHP) 2012

PSV Dayrates

Sep

Oct

Nov

Dec

Medium - AHTS (12-15,999 BHP) 2012

Average North Sea Spot PSV Rates 2011/12

£25,000

Average Spot Dayrate

£20,000

£15,000

£10,000

£5,000

£0

Jan

Feb

Large PSVs (700m2+ Clear Deck) 2011

Mar

Apr

May

Jun

Medium PSVs (500-700m2 Clear Deck) 2011

Jul

Aug

Large PSVs (700m2+ Clear Deck) 2012

Sep

Oct

Nov

Medium PSVs (500-700m2 Clear Deck) 2012

Dec

£0

Mar-04

Large PSVs (700m2+ Clear Deck)

Mar-09

Medium PSVs (500-700m2 Clear Deck)

Jul-12

May-12

Mar-12

Jan-12

Nov-11

Sep-11

Jul-11

May-11

Mar-11

Jan-11

Nov-10

Sep-10

Jul-10

May-10

Mar-10

Jan-10

Nov-09

Sep-09

Jul-09

May-09

PSV Dayrates

Jan-09

Nov-08

Sep-08

Jul-08

May-08

Large - AHTS (16,000+ BHP)

Mar-08

Jan-08

Nov-07

Sep-07

Jul-07

May-07

Mar-07

Jan-07

Nov-06

Sep-06

Jul-06

May-06

Mar-06

Jan-06

Nov-05

Sep-05

Jul-05

May-05

Mar-05

Jan-05

Nov-04

Sep-04

Jul-04

May-04

Jul-12

May-12

Mar-12

Jan-12

Nov-11

Sep-11

Jul-11

May-11

Mar-11

Jan-11

Nov-10

Sep-10

Jul-10

May-10

Mar-10

Jan-10

Nov-09

Sep-09

Jul-09

May-09

Mar-09

Jan-09

Nov-08

Sep-08

Jul-08

May-08

Mar-08

Jan-08

Nov-07

Sep-07

Jul-07

May-07

Mar-07

Jan-07

Nov-06

Sep-06

Jul-06

May-06

Mar-06

Jan-06

Nov-05

Sep-05

Jul-05

May-05

Mar-05

Jan-05

Nov-04

Sep-04

Jul-04

May-04

Mar-04

Jan-04

£0

Jan-04

AHTS Dayrates Average North Sea Spot AHTS Rates 2004 2004--2012

£140,000

£120,000

£100,000

£80,000

£60,000

£40,000

£20,000

Medium - AHTS (12-15,999 BHP)

Average North Sea Spot PSV Rates 2004 2004--2012

£40,000

£35,000

£30,000

£25,000

£20,000

£15,000

£10,000

£5,000

Contact Us Braemar Seascope Offshore is a division of Braemar Shipping Services PLC, a leading integrated provider of brokering and consultancy services to the shipping industry.

Our services include: Spot and period chartering

At Braemar Seascope Offshore our aim is to provide cost effective solutions to our clients' offshore programmes.

Newbuild and second hand sale & purchase

Regular advances in technology mean our work is a direct response to constantly changing market needs.

From offices in London, Aberdeen and Singapore we specialise in the worldwide offshore market.

Short sea and ocean towage

Bespoke research and reports Corporate mergers, acquisitions & fleet sales Valuation services

Click here to leave Feedback

Sean Bate Market Analysis Manager 25 Carden Place Aberdeen AB10 1UQ UK Phone: +44 (0)1224 628470 Fax: +44 (0)1224 621444 E-mail: research @seascope.co.uk

CONTACT US

B

raemar Seascope Offshore is in an ideal position to offer industry insight on all aspects of the offshore vessel market across the globe.

Our expert brokers are on call 24 hours a day and are able to offer advice, information and up-to-theminute detail on vessel rates, availability and positions.

WEBSITE Visit the Braemar Seascope Offshore website by clicking the logo below or going to: www.braemarseascope.com

ŠBraemar Seascope Offshore