P.O. Box 1170 9 NW Front Street, Suite 201
Coupeville, WA 98239 U.S.A.
Telephone (360) 678 8880
Fax (360) 678-8890
E-Mail: info@marcon.com
http://www.marcon.com
Marcon International, Inc.
Vessels and Barges for Sale or Charter Worldwide
February 2014
Supply & Tug Supply Boat Market Report
Following is a breakdown of available supply and tug supply vessels we currently have as shipbrokers officially listed
for sale worldwide. Not included are those available on a private and confidential basis.
Tug Supply Boats
3,000 –
4,000 –
5,000 –
6,000 –
7,000 –
8,000 –
9,000 –
10,000 –
12,000HP
3,000HP 4,000HP
5,000HP
6,000HP
7,000HP
8,000HP
9,000HP
10,000HP
12,000HP
Plus
Under
Total
Feb 1997
12
26
19
19
8
14
9
0
2
2
110
Jan 1998
8
20
7
11
6
8
3
0
0
4
67
Jan 1999
5
20
9
9
4
5
5
0
0
2
59
Jan 2000
5
20
14
10
8
15
8
0
0
2
82
Jan 2002
7
18
15
10
7
19
8
1
2
2
89
Jan 2003
9
15
15
6
6
13
5
3
1
3
76
Jan 2004
5
13
8
9
6
10
7
2
8
14
82
Jan 2005
10
13
13
26
9
11
6
3
3
14
108
Jan 2006
8
22
18
13
6
7
5
4
2
10
95
Jan 2007
8
18
7
17
8
8
6
3
2
10
87
Jan 2008
3
21
8
17
8
8
1
0
3
13
82
Jan 2009
3
17
14
19
11
8
8
2
4
16
102
Feb 2010
5
25
22
47
15
16
18
6
12
1
167
Feb 2011
Feb 2012
4
4
31
21
36
34
36
34
19
19
18
15
25
30
9
6
10
11
30
21
218
195
May 2012
7
21
32
36
19
16
23
9
11
19
193
Aug 2012
5
20
33
34
21
17
26
8
11
22
197
Nov 2012
6
20
37
35
23
17
28
10
11
24
211
Feb 2013
6
22
37
34
19
11
25
7
9
22
192
May 2013
5
14
33
33
18
10
23
8
8
27
179
Aug 2013
6
15
34
24
15
9
18
6
6
24
157
Nov 2013
5
15
32
21
14
11
13
4
5
22
142
Feb 2014 - Worldwide
5
10
29
22
14
10
9
4
7
21
131
Feb 2014 - U.S.
0
0
0
0
0
1
0
0
0
1
2
Feb 2014 – Foreign
5
10
29
22
14
9
9
4
7
20
129
1981
1976
1996
2000
1993
1983
1991
1992
1997
1994
0
0
0
0
0
1978
0
0
0
1983
1981
1976
1996
2000
1993
1983
1991
1992
1997
For Charter Worldwide
0
4
9
16
16
6
7
18
13
12
For Charter U.S.
0
0
0
0
0
1
0
0
0
0
1
For Charter Foreign
0
4
9
16
16
5
7
18
13
12
100
Avg. Age Worldwide
Avg. Age U.S.
Avg. Age Foreign
Up Since Last Report
Down Since Last Report
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
1994
101
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Market Overview
Of 12,705 vessels and 3,888 barges tracked by Marcon, 3,185 are supply and tug supply boats. Tug supply boats
officially on the market for sale decreased from 195 to 131 vessels since February 2013 and down 7.75% or 11
vessels from November. At the time of this report, 51 tug supply boats for sale were either built within the last 10 years
or are newbuilding re-sales. 55.73% of the tug supply boats currently for sale are 25 years of age or over. Counterbalancing these “old ladies” are three newbuilding resales, in the 4,400-8,400BHP range, scheduled for delivery in
2014. The AHTSs on the market are finally getting younger due to scrapping of older tonnage. One year ago, 67.71%
of the AHTSs for sale were built before 1988. In addition to those vessels published on the market, others not officially
on the market may be able to be developed on a private and confidential basis. 42.42% of foreign and 95.35% of U.S.
flag supply / tug supply boats we have officially listed for sale are direct from Owners. So far in 2014, actual sales price
of all vessels and barges sold by Marcon has averaged 93.67% vs. 2013’s 87.07% and 2012’s 81.79%.
Platform Supply Boats
Under
150 –
160 –
170 –
180 –
190 –
200 -
220 –
240’
150’*
160’
170’
180’
190’
200’
220’*
240’*
Plus
Feb 1997
7
1
5
7
13
8
6
29
Jan 1998
2
1
7
5
5
0
5
25
Jan 1999
2
2
6
5
7
3
6
31
Jan 2000
2
3
13
12
17
4
9
60
Mar 2001
4
5
16
12
16
3
3
59
Jan 2002
2
6
17
12
17
2
5
61
Jan 2003
4
7
20
16
22
5
5
79
Jan 2004
2
7
13
10
32
7
19
Jan 2005
2
6
15
9
67
16
8
5
4
132
Jan 2006
5
3
12
7
60
9
7
6
6
115
Jan 2007
6
1
8
5
29
6
3
8
4
70
Jan 2008
2
2
7
5
23
3
4
1
4
51
Jan 2009
3
5
6
6
32
7
6
2
5
72
Feb 2010
3
3
13
12
35
12
5
19
15
117
Feb 2011
Feb 2012
3
3
4
7
13
11
7
8
48
28
15
9
13
10
22
16
16
21
141
113
May 2012
5
9
11
10
28
10
12
22
22
129
Aug 2012
7
8
11
10
30
10
8
23
15
122
Nov 2012
7
7
12
10
30
10
9
30
16
131
Feb 2013
8
8
9
8
27
8
10
30
15
123
May 2013
7
7
8
8
29
8
10
31
14
122
Aug 2013
6
7
8
4
30
6
9
28
13
111
Nov 2013
6
8
7
1
26
9
10
22
19
108
Feb 2014 - Worldwide
6
9
7
4
21
9
9
23
22
110
Feb 2014 - U.S.
1
3
5
3
12
2
4
11
0
41
Feb 2014 – Foreign
5
6
2
1
9
7
5
12
22
69
Total
90
Avg. Age Worldwide
1990
1997
1981
1994
1981
1993
1991
1993
Avg. Age U.S.
2003
1987
1984
1999
1984
2006
1996
1989
2007
0
Avg. Age Foreign
1988
2003
1974
1979
1977
1989
1987
1996
2007
For Charter Worldwide
4
5
4
3
8
2
5
5
12
For Charter U.S.
0
2
1
1
1
0
0
0
4
9
For Charter Foreign
4
3
3
2
7
2
5
5
8
39
Up Since Last Report
48
Down Since Last Report
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
2
Marcon International, Inc.
Supply Vessel Market Report – February 2014
AHTS – Breakdown by Year Built & BHP
Built
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1992
1998
1999
2003
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Unknown
Total
<3000
3000-3999
4000-4999
5000-5999
6000-6999
7000-7999
8000-8999
9000-9999
10000-10999
11000-11999
>12000
1
1
1
1
2
1
1
2
1
2
2
1
1
1
1
1
3
1
3
1
1
1
1
1
1
1
1
1
2
1
1
1
3
1
1
2
1
1
2
1
1
2
6
2
1
1
1
1
1
1
2
1
1
1
1
1
1
1
3
2
1
1
1
2
1
1
1
5
5
6
2
1
1
29
10
1
5
1
1
3
1
22
1
1
1
1
1
14
10
1
4
9
2
2
1
5
1
21
2
Total
1
1
1
2
4
3
5
11
1
2
2
2
1
3
8
11
5
4
4
2
1
1
1
1
1
1
6
3
2
2
9
16
8
3
3
131
PSV – Breakdown by Year Built & LOA
Built
1969
1972
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1988
1990
1991
1995
1996
1997
1998
1999
2000
2002
2003
2004
2005
2006
2007
2008
2011
2013
2014
2015
<150
Total
6
150-160
160-170
170-180
180-190
190-200
200-210
210-220
220-230
230-240
>240
1
1
2
4
1
4
2
4
1
1
2
3
1
2
1
1
1
2
1
2
1
1
1
1
1
1
2
1
1
1
1
1
1
1
2
2
1
1
1
1
1
1
2
1
1
1
1
2
1
1
1
1
1
1
1
1
1
1
1
1
1
2
1
1
1
1
1
1
1
1
1
1
1
8
7
1
26
9
3
7
14
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
8
5
4
3
19
Total
1
1
3
5
3
6
4
7
6
4
3
7
7
2
1
1
2
2
1
3
1
4
6
1
2
3
1
2
1
2
2
1
5
5
3
108
3
Marcon International, Inc.
Supply Vessel Market Report – February 2014
The number of platform supply boats for sale decreased 10.57% from 123 to 110 since February 2013. There was a
two vessel increase in supply boats on the sales market since our last report in November. As of the time of this latest
report, Marcon International has available 22 supply boats built within the last ten years, which includes eight
newbuilding re-sales scheduled for delivery in 2014 and 2015. 61 PSVs, or 56.48%, are 25 years of age or older, with
the oldest PSV listed built in 1969 - compared to one year ago when 75 PSVs (60.98%) were older than 25 years, and
the oldest was built in 1966. As with the AHTSs, this reflects the scrapping of older tonnage by some of the major
players in this market worldwide.
The dominant location for second-hand tonnage on the market is the Far
East with 20.7% (up from 10.2% one year ago), followed by the U.S. with
17.8%, Southeast Asia with 16.0% (note last year we combined Southeast
Asia and Southwest Asia) and the Mid-East with 11.6%. “By arrangement”
or where location is unknown is 5.4%. The rest of the globe makes up the
final 28.5% of locations. CAT is the principal U.S. main engine suppliers to
this sector powering 44 of the supply & tug supply vessels listed for sale,
followed by EMDs in 25 and Cummins in 18 vessels. MAK (also owned by
CAT) leads foreign manufacturers with 15, then 14 Wartsila, 12 each
Niigata and Nohab/Polar Nohab (long taken over by Wartsila) and 81 units
powered by various other manufacturers.
In addition to those for sale, Marcon has 149 straight supply and tug supply
vessels listed for charter worldwide, down 10 from November.
Crude Oil Prices
US$
WTI - Cushing, Oklahoma
Brent - Europe
Jul-13
104.67
107.93
Aug-13
106.57
111.28
Sep-13
106.29
111.6
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
100.54
93.86
106.29
94.62
100.82
109.08
107.79
111.6
108.12
108.9
Source: Energy Information Administration, Office of Oil and Gas.
Recent Marcon Sales
G & B Offshore LLC of Cut Off, Louisiana has purchased the U.S. flag utility /
construction support vessel “White Pony” (Hull 203) from Cal Dive International of
Houston, Texas. The 116.0' x 26.0' x 11.0' steel construction vessel was designed
by Mat Kawasaki and built in 1980 at Theriot-Modec Enterprises in Morgan City,
Louisiana to ABS standards. “White Pony” was never classed, but was U.S. Coast
Guard approved for the transportation of up to 45 passengers and supplies for hire
within 200 miles offshore. She was subsequently rebuilt in 1997. The vessel has
capacity for 64LT of deck cargo on a 1,056ft2 clear deck and has tankage 26,522g fuel, 600g lube oil and 26,625g
fresh water. “White Pony” is powered by twin GM 16V92 diesels providing a total 1,200BHP at 1,800RPM through
Twin Disc 527 5.17:1 gears. Top speed is about 10kn on 55gph. Ship’s power is provided by two 75kW / GM4-71
generators. Her last major dry-docking was completed in May 2010 which entailed cropping & renewing of hull valves,
new deck boards, new gaskets in the W/T doors, port shaft bearing replaced, vents
& vent piping repaired / renewed, ballast manifold renewals, new life raft & launch
system, bow grating cropped, renewed and painted. Accommodations include berths
for a total of 25 persons. The “White Pony” is currently undergoing a complete
refurbishment by the new owner for her new service. This is the second transaction
handled by Marcon for the Seller and the first to the Buyer. Marcon acted as sole
broker in the transaction.
Several additional sales and charters are pending.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
4
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Worldwide Sale & Purchase News
Edison Chouest Offshore has acquired the remaining assets from the fleet of Bee Mar LLC.
The acquisition consists of seven vessels: three 270 Class and four 300 Class platform supply
vessels, or PSVs. The vessels are currently on order from the Bollinger Marine Fabricators in
Amelia and are in different states of construction. The news comes more than a year after Harvey
Gulf International Marine finalized the purchase of nine offshore supply vessels from Bee Mar for
$243 million. Edison Chouest's decision to purchase the supply
vessels came as something of a surprise as Chouest historically
only builds for themselves, Edison Chouest, which is a family-owned company based in
Galliano, announced last July its decision to build 40 new vessels. There are no more
plans at present for Bee Mar to build any more vessels on specification.
Norwegian Farstad Shipping ASA, through its subsidiary Farstad Supply, sold
their 1983 Ulstein Hatlo built, 3,324dwt PSV “Far Grimshader” to a subsidiary of
compatriot COG Offshore AS. The vessel is a UT706L design, measuring
80.85m x 17.52m x 7.32m depth and powered by twin Bergen KVMB 12s
producing about 6,000BHP. The sale of the vessel will give Farstad a booked
profit of approx. NOK 15 million (US$ 2.5m) in 1st quarter 2014. The vessel has
been renamed “Grimshader” and flagged to Barbados registry. COG also
operates a couple of sisters, the “NSO Spirit” and “NSO Fortune”.
Solstad Offshore ASA entered into agreements for sales of their “Normand
Tonjer” and “Nor Sun” to international buyers. Both vessels will be delivered to
new owners this quarter. The sales will have a positive cash effect for Solstad
of approx. NOK 87 million (US$ 14.5m) and with a booked gain of approx.
NOK 35 million (US$ 5.8m). DP2 “Normand Tonjer” was built in 1983 by
Georg Eides Sonner and measures 80.78m x 18.01m x 7.12m. Currently
configured as a multi-purpose ROV support vessel, it was originally built as a
UT-705 pipe carrier at a cost of abt. US$ 9,662,697 and converted in 2000.
Buyer was Red7Marine Group from the U.K. who are renaming the vessel
“Red7 Tonjer”. “Nor-Sun” is a former 2006 Jaya built DP-2, 8,000BHP AHTS
and 70.05m x 14.95m x 6.10m purchased by Indonesian operators Logindo
Samudramakmur of Jakarta, who since renamed the vessel “Logindo Sturdy”.
The 1982 built “Sea Tern” (ex-Seabulk Tern, Red Tern, Far Tarpon, Tender
Tarpon) measuring 72.0 x 15.0 x 7.0m has been sold by Navcrator Offshore
and Marine to Five Oceans Salvage. Built at C. Amels & Zoon in Holland at
a cost of US$ 11,850,000, the AHTS is powered by four 1,942kW Bergen
KVMB-12s producing a total of 10,560BHP and bollard pull of 102 tons. Now
flying the Maltese flag, vessel has been renamed “Ionian SeaFos”.
Jasa Merin (Malaysia), part of Silk Holdings Bhd, disposed of the 59.2m x
13.8m x 5.5m OSV “JM Aman” (ex-Permint Aman) to Caspian Mainport Ltd., for
a total of $5.925 million. The vessel, now named “C.M. Ruby”, is a 4,600BHP
straight supply vessel, built in 2004 by Muhibbah Marine Engineering and was
Malaysian flagged. The sale is part of Jasa Merin’s fleet renewal and
replacement program and funds will be used to pay off the remaining loan on the
vessel with the balance to go towards
working capital. Vessel has been reflagged
to Marshall Islands registry. Jasa Merin also entered into a Memorandum of
Agreement to sell the close-sister AHTS “JM Damai” (ex-Permint Damai), for a
total consideration of US$ 7.925 million to Caspian Mainport Ltd. Built two years
later also in Port Klang than “JM Aman”, the vessel is powered by twin CAT 3606
diesels developing a total of 5,444HP and bollard pull of 70 tons. She also will
sails under the Marshall Islands’ flag with the name “C.M. Rose”.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
5
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Topaz Energy and Marine purchased two anchor handling towing and
supply vessels for over $100 million from Indian owners Varun. The 2008
and 2009-built “Caspian Challenger” (ex-Subhadra, Rem Odin) and
“Caspian Endeavour” (ex-Suchandra, Rem Viking) are DP2 rated and
currently the most powerful vessels in the Caspian at 17,200BHP and 190
tons bollard pull. The ships, completed by Kleven Verft at a cost of around
US$ 49,190,000 each with hulls built by Crist Sp z oo of Gdansk and
Myklebust Mek. Verkstad, were on bareboat charter to Topaz. Currently
on a long term contract with BP in Azerbaijan, the AHTS duo is working at the ACG and Shah Deniz fields as part of
the group’s 25-strong Azerbaijani fleet performing rig moves, anchor moves and other duties. “These vessels have
proved themselves as high performers in our fleet,” commented René Kofod-Olsen, CEO, Topaz Energy and Marine.
"As such, it was a logical extension of our agreement with the owner to preemptively exercise our purchase option and
make them a permanent part of our fleet at what we believe is an attractive valuation."
Singapore-based offshore owner Otto Marine sold two work maintenance vessels to their charterer. The charterer,
Malaysia-based Go Marine Services, executed its purchase obligation for the two Tuvalu flagged, 1,624dwt vessels,
“Seasafe Salvo” and “Seasafe Supporter”, for $30 million. The obligation came with the end of the charter period. The
proceeds from the sale will go towards total satisfaction of debt secured by the existing mortgage over the vessels and
other securities with the remainder for working capital. Otto Marine will make $6.4 million from the transaction, said the
company’s group executive director Michael See. Both units were built at Taishan Winde Shipbuilding in Guangdong,
China in 2009 and 2010, measure 61.2m x 16.0m x 6.0m and are powered by twin 1,471kW Niigata 6MG26H2X
engines creating 4,000BHP.
Island Offshore Shipholding (IOSH), announced that Island Pioneer KS, where IOSH
owns 70%, sold “Island Pioneer” for NOK 435 million (abt US$ 70.4m) in total proceeds.
The transaction generates NOK 265 million in liquidity for IOSH, after repayment of
loans and minorities in Island Pioneer KS. IOSH also signed new fleet loan financing
replacing existing loans. The new financing improved IOSH’s available funding by more
than NOK 300 million, further strengthening company’s
liquidity. Proceeds will be used to partly finance their
newbuild investment program and for general corporate
purposes. The new registered owner appears to be Blue Pioneer Pte Ltd. registered
in Singapore / Blue Marine Cargo SA de CV of Mexico City. “Island Pioneer”,
measuring 95.0m x 20.5m x 7.0m loaded draft and was built in 2006 at Maritim
Shipyard at a reported cost of US$ 47 million. It is powered by four Bergen C25:33L9P
diesel electric engines driving 2,088kW 690vAC generators connected to two 2,500kW
electric motors driving azimuthing props. Maneuverability is enhanced by two 1,200kW
tunnel and one 1,200kW retractable directional thrusters forward.
It must be time for vintage “Princes” to be sold. Norwegian standby
owners Atlantic Offshore AS of Norway sold their 1975 Ulstein Hatlo
built, UT-704 design “Ocean Prince” (ex-Viking Prince, Stad Supplier) to
a subsidiary of Hoyland Offshore AS. The DnV classed vessel is
powered by twin Polar Nohab F216V creating a total of 7,600BHP and
88 tons bollard pull. The vessel, renamed “Marine Prince” and still
flagged under Norwegian
registry, will exit the standby
market in the North Sea……Ocean Diving Centre Ltd of India sold their 1974
built AHTS “Ocean Prince” (ex-Stanford Prince, Banda Seahorse, Dearborn
203) to Emerald Shipping Management of the United Arab Emirates.
Measuring 204’ x 40’ x 16.5’, it was built by Bellinger Shipyard in Jacksonville,
Florida and powered with twin Alco 12-251Fs producing a total of 5,600BHP and
a bollard pull of 55 tons.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
6
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Charter News
Otto Marine Limited secured a charter contract for its 24,000BHP AHTS vessel, “Go Pegasus” worth approx. US$ 40
million including options. “Go Pegasus” will soon be mobilized and deployed to the North Sea where she will work for
the summer season before commencing its term contract from September 2014 with DeepOcean UK. As part of the
contract, the client also has options to extend the contract for an undisclosed
period. Construction of the 91.00m x 21.95m “Go Pegasus” was recently
completed at the Group’s PT Batamec yard in Batam. “Go Pegasus” is a
Norwegian VS 491 CD designed and DNV classed AHTS powered by two
8,000kW MaK 16M32C diesels driving CP props providing a bollard pull of 250
tons. “We are very happy to have secured a sizeable contract for ‘Go Pegasus’
maiden project immediately after it joins our fleet. In addition to enhancing our
fleet profile, ‘Go Pegasus’ will aid the Group in strengthening our presence in the
North Sea and pave the way for future work in the region. This charter contract is
a reflection of the strong interest we are receiving globally for vessels with this tonnage, and we hope to keep ‘Go
Pegasus’ highly utilized on projects around the world,” said Mr. Garrick Stanley, CEO. Watch the “Go Pegasus’” sea
trials and bollard pull test at link: http://www.youtube.com/watch?v=Tw5eWzPj77Y
Stanford Marine has secured a five year contract with Total E&P Angola
for their PSV “Stanford Hawk”, the latest addition to its fleet. Total E&P
Angola awarded Stanford Marine a five year contract, with two 2-year
options, scheduled to commence by the beginning of February 2014. The
“Stanford Hawk” will be supporting the process and storage activities of
TEPA, by transporting personnel and cargo, as well as assisting in safety
standby duties. Stanford Marine’s GM, Darren Reeves, said “Having the
‘Stanford Buzzard’, an 87m PSV, in East Africa and now the ‘Stanford
Hawk’ in West Africa allows us to strengthen our presence on the continent
and provides a platform to deploy more vessels in the region, if the right opportunity arises.” Built by Fujian Mawei
Shipyard in China, the 75.0 x 17.2 x 7.8m, 3,200dwt “Stanford Hawk” is a DP2 diesel electric platform supply vessel
powered by four Cummins diesels driving 1,800kW AC generators connected to two 2,000kW azimuthing drives.
Farstad Shipping AS announced a plethora of contracts and contract
extensions, as follows: Statoil declared their one year option to extend the
contract for the PSV “Far Serenade” (2009, UT 751 CD, 5,944dwt). Saipem
declared their one year option to extend the contract for the CSV “Far
Samson” (pictured left) (2009, UT 761 CD, 32,640BHP / 250T Crane). Peterson
Den Helder B.V. declared their one year option for the PSV “Far Splendour”
(pictured right) (2003, P 106, 3,503dwt). In Australia ConocoPhillips has
extended the contract for the PSV “Lady Melinda” (2003, UT 755, 2,777dwt)
with another 2 years. PSV “Far Starling” (2013, PSV 08 CD, 4,000dwt) has
been awarded an 18 month firm contract by Woodside, with a further option
of three 6 months periods. Woodside has also declared their option to extend
the contract for the PSV “Lady Grace” (2001, UT 755, 5,922dwt) with
another 12 months. Exxon Mobil has declared their option to extend the
contract for the PSV “Far Swan” (2006, VS 470 MK II, 3,628dwt) with
another 180 days. Hunt Oil has awarded contracts to the AHTS “Lady
Astrid” (2003, UT 712, 12,240BHP), the AHTS “Lady Sandra” (1998,
KMAR 404, 15,014BHP) and the AHTS “Far Stream” (2006, UT 712L,
14,688BHP) for the approx. duration of 45 days with a further option of
approx. 45 days. After finalizing of the Hunt Oil contracts “Lady Astrid”
and “Lady Sandra” will commence new contracts with PTTEP. Each
vessel has been awarded a contract for the approx. duration of 80 days.
Total value of the contracts, excluding options, is approx. NOK 630 mill.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
7
Marcon International, Inc.
Supply Vessel Market Report – February 2014
The Atlantic Offshore operated DP2 PSV “Ocean Pride” was awarded
a term contract with a drilling consortium led by Wintershall. The
contract is for 16 wells and is expected to last up to for years in the North
Sea. “Ocean Pride” will perform both regular supply services, as well as
supply and emergency services. The 2012 built Havyard 832L vessel
measures 86.0m x 17.6m x 7.7m depth and is powered by four diesel
electric CAT 3512C oil engines connected to two 4,500kW electric
motors driving azimuthing props plus three 880kW tunnel thrusters
forward. The hull was built in Turkey and she was finished out by
Havyard Leirvik AS in Norway as Hull 103 at a cost of $50,500,000.
Orders
Vard Holdings Limited has secured a contract with a new customer,
Harkand Group of the U.K., for the design and construction of a dive
support and construction vessel. The value of the contract exceeds NOK
1 billion (abt. $165m equiv.). The 160.9m x 32.0m x 12.5m depth / 9.25m
draft “Vard Soviknes 801” is of VARD 3 03 design, specially designed and
equipped for diving and subsea operation duties with a high focus on
good seakeeping abilities, excellent station keeping performances and low
fuel consumption. The 8,000dwt vessel will be fitted with a 250 ton
offshore crane, ROV hangar, and a twin Bell 18-man saturation diving
system, supporting split level diving operations to a maximum diving depth of 300m.The vessel is scheduled for
delivery from Vard Søviknes in Norway in the second quarter of 2016. The hull of the vessel will be delivered from
Vard Tulcea in Romania. Contemplated class is DnV-GL. The contract includes an option for a second similar vessel.
Vard Holdings Limited also has secured a contract with Bourbon for the
design and construction of an Arctic anchor handling tug supply vessel. The
AHTS is being designed for worldwide, remote operations, will have a
length of 93.6m by a beam of 24m and bollard pull of approx. 270 tons. The
vessel is arranged to deploy a ROV and has accommodation for 60 people.
The vessel will also have what Vard described as superior anchor-handling
capabilities as well as a hybrid propulsion system providing energy savings.
The vessel will be operated by Bourbon Offshore Norway and is scheduled
for delivery from Vard Brattvaag in Norway in the first quarter of 2016. The
hull of the vessel will be delivered from Vard Tulcea in Romania.
Vard Holdings Limited also has secured a contract from an unidentified
international customer for the design and construction of a 157m diving support
and construction vessel. The new vessel will be of the VARD 3 06 design,
developed by Vard Design in Ålesund, Norway, will have a length of 157m by a
beam of 27m and an accommodation capacity for 150 persons. The vessel is
scheduled for delivery from Vard Langsten in Norway in mid-2016. The hull of
the vessel will be delivered from Vard Tulcea in Romania.
Vard Holdings Limited secured a new contract for the design and construction
of one Platform Supply Vessel for Carlotta Offshore Ltd. The vessel, “Vard Vung
Tau 792”, is a multifunctional PSV of VARD 1 08 design with a total length of
81.7m, beam of 18.0m and a cargo deck area of 830m2. The vessel of approx.
4,000dwt will be prepared for standby, rescue, firefighting and oil recovery
operations. Delivery is scheduled from Vard Vung Tau in Vietnam in 2Q 2015.
VARD is pleased to see Carlotta Offshore place their second order with Vard
Vung Tau, extending the orderbook for that yard. The sister-ship, “Vard Vung Tau
791”, is expected to be delivered around the end of 2014.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
8
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Mermaid Maritime announced that its subsidiary, MTR-3 (Singapore) Pte. Ltd., newly incorporated
subsidiary, MTR-4 (Singapore) Pte. Ltd., and existing subsidiary company, Mermaid Offshore
Services Pte. Ltd., entered into an agreement with China Merchants Industry Holdings Co., Ltd.
for design and construction of a Multi-Purpose Subsea Dive Support &
Construction Vessel (Hull No. CMHI (JS)-152-1). The consideration of
the new DSV is US$ 138,000,000 comprised of US$ 131,400,000 for
the vessel and US$ 6,600,000 for vessel equipment spares. The actual yard of build was
not specified, but most likely China Merchants Heavy Industry (Jiangsu) Co. Ltd. in
Haimen, based on hull number. Mermaid intends to fund its portion through proceeds
raised from their recent rights issue and private placement completed on 3rd October
2013. The expected date of delivery of the newbuilding DSV is third quarter 2016.
Sharjah-based Petrofac Services Ltd. selected Ulstein Sea of Solutions in The
Netherlands to design “Petrofac JSD 6000”, the deepwater derrick lay vessel it
plans to build. The 52,000dwt vessel will be a “customized” version of the Ulstein
SOC 5000 and will be built at the ZPMC Shanghai Zhenhua Industries Co. Ltd.
yard in in Nantong. Vessel is expected to be available for construction and
installation activity in early 2017. The dynamically-positioned unit is an innovative
design with J-Lay, S-Lay and heavy lift capabilities, allowing it to serve deepwater
and SURF markets as well as shallow water EPCI projects. Features a National
Oilwell Varco (NOV) revolving main crane with 5,000 tons lift capacity, but what
makes the vessel unique is the combination of a 600 ton Remacut S-lay system
via a center firing line below main deck and 2,000 ton IHC EB J-lay system via a moonpool. A double deck
configuration, distinctive in Ulstein Sea of Solutions designs, allows for a large, unobstructed deck area and below
deck pipe fabrication. Vessel will be 215.9m overall with a length between perpendiculars of 197.6m, beam of 49.0m,
depth (main deck) of 22.4m, operating draft of 10.9m and service speed of 12 knots. The 69,342HP pipe layer will be
powered by six 8,500kW AC diesel generators driving two electric azimuthing units aft and three tunnel thrusters
forward. The DP3 unit will also have an eight-point mooring system. It will be classed by Lloyd’s Register and have ice
class to Finnish Swedish 1C standard. Deck strength will be 15mt/m2 and the vessel will have accommodation for 399.
Norwegian yard Kleven signed a contract with Olympic Shipping for the
building of an IMR vessel of MT 6021 design. The contract value is around NOK
400 million (abt $66m). The vessel will be delivered from Kleven Verft in March
2015. “It is a great pleasure for us to be able to contribute to the expansion of
the highly advanced Olympic fleet. Close cooperation with Olympic's
organization during the building process ensures that the shipowners'
experience and knowledge is being transformed into new and better solutions,”
said Ståle Rasmussen, CEO of Kleven. The Marin Teknikk design is new and
developed in cooperation with the ship owner Olympic, focusing on efficient and environmentally friendly solutions. The
vessel is equipped with an offshore crane, ROV hangars and with significant accommodation capacity.
Kleven Verft received a NOK 345 million (approx. $57m) order for a PSV from
Rem Offshore. The vessel, of VS485 MK III Arctic design, to be deployed in the
North Sea, is specially designed for operation in icy waters. The new 87m x 20m
vessel will add to the two vessels already under construction for Rem Offshore.
Kleven signed the contract with Rem Offshore for the building of a PSV especially
designed to operate in challenging arctic conditions. The type VS 485 MK III
ARCTIC design includes a number of features for ice prevention and de-icing, and
hull and propulsion systems will have ICE-1B class. The vessel is designed by
Wärtsila Ship Design. “We highly appreciate the close cooperation we have with
Rem Offshore, and the fact that they again have chosen to order a new vessel from Kleven,” says Ståle Rasmussen,
CEO of Kleven. “When this vessel gets delivered Q2 2015, it will be vessel number 18 from Kleven to Rem since 2006.
It is a unique story,” Rasmussen said. “Our two organizations know each other very well, ensuring a smooth building
process.” “It is a pleasure for us to be able to use a local ship yard and local suppliers, and our experience with this
design is solid,” said ship owner Åge Remøy.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
9
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Swiss company Promar Shipping Services SA has ordered two
Platform Supply Vessels from Damen Shipyards Group as it looks to
further expand the offshore fleet under its management in the next five
years. The first 80.1m x 16.2m x 7.5m Damen PSV 3300 will be delivered
in February 2015 and the second in August of the same year.
Commenting on why Promar chose a Damen vessel, Olivier Meynis de
Paulin, Chartering Supervisor said, “The PSV 3300 is at the forefront of
technology in terms of equipment, being modern and reliable. These
ships are built in line with North Sea standards.” Promar expects to
employ the two vessels in the West African market. “West Africa is wellknown to us. We have been chartering in this region since 2002 when we were established,” Meynis de Paulin said.
“Bringing the standards of the PSV 3300 to African countries will certainly be a valuable competitive edge. In addition,
the design and the level of comfort proposed by these vessels are definitely an important advantage.” Promar
established headquarters in Switzerland in 2002. Currently it has a fleet of multipurpose supply vessels and fast crew
boats under management, which serves the global offshore marine industry.
Nam Cheong Limited has sold four depth Emergency Response and Rescue Vessels and one AHTS Vessel for close
to US$ 70 million (approx. S$ 89.4 million) to existing repeat customer, Sentinel Marine. Mr. Leong Seng Keat Nam
Cheong’s CEO said, “We are very pleased to have made a strong start in the New Year, soon after reporting a record
high of 24 vessel sales last month. We are also encouraged by this repeat business which shows a strong vote of
confidence in the quality of our vessels. We will continue to tap on our strong working relationships with existing
customers, many of whom are established players globally, as
we ride the industry uptick together.” A year ago, Nam Cheong
sold four 3,755BHP ERRVs to Sentinel Marine, an emerging
Aberdeen-based company which owns and operates OSVs.
Added Mr. Leong, “Our cumulative order book stands at a
healthy level of RM1.5 billion, a good reflection of the upbeat
offshore support vessel segment. This in turn is buoyed by the
strong market for rigs, underpinned by a sustained high oil price
environment. We are confident that shallow and mid-water
regions will continue to see a pickup in demand for OSVs,
especially for small-to-mid-sized AHTSs, as well as mid-sized
PSVs. With global E&P spending expected to see another record-setting year in 2014, we are optimistic of an exciting
year ahead.” The four 61.0m x 15.0m x 6.1m DP1 ERRVs are being constructed under Nam Cheong’s build-to-order
model, whereas the 6,600BHP / 65m BP 80T DP2 ABS classed AHTS vessel is being constructed as part of the
Group’s build-to-stock series. All five vessels are being constructed in its subcontracted yards in China. They are
scheduled for delivery in 2015-16 and are expected to contribute positively to the Group’s earnings for the financial
years ending 31 December 2014 to 31 December 2016.
Nordic American Offshore Ltd. (NAO) announced that it has agreed to
buy two more platform supply vessels (PSVs) from Ulstein Verft AS,
increasing its fleet to eight vessels of the same type. Nordic American
Offshore Ltd., which is sponsored by Nordic American Tankers Limited
and is managed by a subsidiary of NAT, currently has six platform supply
vessels (also built by Ulstein) operating in the North Sea market. The two
newbuildings will be delivered in January 2015 and cost about $44 million
each. According to Ulstein, the company's two new 83.4m x 18.0m x 8.0m
depth / 6.7m draft PX121 design vessels are planned for delivery from
Ulstein Verft in January 2015. The NAO vessels will be hull numbers 303
and 304 at Ulstein Verft, which has five vessels on order at present.
Nordic American Tankers owns 26% of the share capital in NAO at a cost of $65 million. NAO will be operated
essentially along the same strategic lines as NAT. This includes an active dividend policy and the prudent use of its
resources to ensure a top-quality fleet at all times. Vessels will be classed by DnV.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
10
Marcon International, Inc.
Supply Vessel Market Report – February 2014
ASL Marine has bagged S$ 97 million (US$ 76.7m) worth of contracts to build six
offshore vessels. The Singapore-listed shipyard is to build two emergency
response and rescue vessels (ERRV) and four AHTS for undisclosed customers in
Europe (possibly Esvagt/ Svitzer) and Singapore. The ERRVs will be built by
ASL’s yard in Singapore, classed by Lloyd’s Register, with delivery in 2015. The
four 62m AHTS will be built at its yard in China, classed by ABS, with two to be
delivered in 2015 and two in 2016.
Following are 103 supply vessels on order at U.S. shipyards per MarineLog & Colton Company, as of February 12,
2014. This is an increase of 31 vessels from our last report in November and 34 more than the same time last year.
Part of the large jump is due to the seventeen 312’ PSVs that Edison Chouest now has on order from North American,
plus they have options for 20 more of the same.
Shipbuilder
Location
Type
Customer
Name
Description
Price
($mm)
Delivery
U.S. Shipbuilding Contracts
BAE Systems
Jacksonville FL
PSV
Jackson Offshore
252-ft
2014
BAE Systems
Jacksonville FL
PSV
Jackson Offshore
Breeze
252-ft
2014
BAE Systems
Jacksonville FL
PSV
Jackson Offshore
252-ft
2015
BAE Systems
Jacksonville FL
PSV
Jackson Offshore
252-ft
BAE Systems
Mobile AL
PSV
Gulfmark Offshore
286-ft
48
2013
BAE Systems
Mobile AL
PSV
Gulfmark Offshore
286-ft
48
2013
Bay SB
Sturgeon Bay WI
PSV
Tidewater Marine
Miss Marilene Tide
303-ft.
2014
Bollinger SY
Amelia LA
PSV
Bee Mar Acqn.
Busy Bee
300 ft.
2015
Bollinger SY
Amelia LA
PSV
Bee Mar Acqn.
Honey Bee
300 ft.
2015
Bollinger SY
Amelia LA
PSV
Bee Mar Acqn.
Worker Bee
300 ft.
2015
Bollinger SY
Amelia LA
PSV
Bee Mar Acqn.
Bayou Bee
300 ft.
2015
Bollinger SY
Amelia LA
PSV
Bee Mar Acqn.
270 ft.
2015
Bollinger SY
Amelia LA
PSV
Bee Mar Acqn.
270 ft.
2015
Bollinger SY
Amelia LA
PSV
Bee Mar Acqn.
270 ft.
2015
Bordelon Marine
Houma LA
PSV
Bordelon Marine
Sheila Bordelon
257 ft.
14-Jan
Bordelon Marine
Houma LA
PSV
Bordelon Marine
Brandon Bordelon
257 ft.
14-Dec
C. & C. Marine
Belle Chasse LA
OSV
Adriatic Marine
Sargasso
200 ft.
14-Feb
C. & C. Marine
Belle Chasse LA
OSV
Adriatic Marine
Irish
200 ft.
14-Jun
C. & C. Marine
Belle Chasse LA
OSV
Adriatic Marine
Solomon
200 ft.
14-Oct
C. & C. Marine
Belle Chasse LA
OSV
Adriatic Marine
Ionian
200 ft.
15-Feb
C. & C. Marine
Belle Chasse LA
OSV
Adriatic Marine
Java
200 ft.
15-Jun
C. & C. Marine
Belle Chasse LA
OSV
Adriatic Marine
260 ft.
C. & C. Marine
Belle Chasse LA
OSV
Adriatic Marine
260 ft.
Candies SB
Houma LA
PSV
Otto Candies
275 ft.
Eastern SB
Panama City FL
MPSV
Hornbeck Offshore
310 ft.
45
Eastern SB
Panama City FL
MPSV
Hornbeck Offshore
310 ft.
45
Eastern SB
Panama City FL
OSV
Harvey Gulf Marine
300 ft.
13-Apr
Eastern SB
Panama City FL
OSV
Harvey Gulf Marine
300 ft.
13-Oct
Eastern SB
Panama City FL
OSV
Harvey Gulf Marine
300 ft.
Eastern SB
Panama City FL
PSV
Boldini SA (Brazil)
Bravante VI
55
Eastern SB
Panama City FL
PSV
Boldini SA (Brazil)
Bravante VII
55
14-Feb
Eastern SB
Panama City FL
PSV
Boldini SA (Brazil)
Bravante VIII
55
14-May
Eastern SB
Panama City FL
PSV
Boldini SA (Brazil)
Bravante IX
55
14-Aug
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Renaissance
300 ft.
45
4Q13
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Riverbend
300 ft.
45
1Q14
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Bayou
310 ft.
45
1Q14
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Black Foot
310 ft.
45
2Q14
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Black Rock
310 ft.
45
3Q14
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Black Watch
310 ft.
45
4Q14
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Brass Ring
310 ft.
45
4Q14
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
2015
2014
1Q15
2Q15
14-Apr
13-Nov
11
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Eastern SB
Panama City FL
PSV
Hornbeck Offshore
HOS Briarwood
310 ft.
45
1Q15
Gulf Coast SY Group
Gulfport MS
PSV
Harvey Gulf
Harvey Energy
10,500 hp
55
13-Nov
Gulf Coast SY Group
Gulfport MS
PSV
Harvey Gulf
Harvey Power
10,500 hp
55
14-Mar
Gulf Coast SY Group
Gulfport MS
PSV
Harvey Gulf
Harvey Liberty
10,500 hp
55
14-Jul
Gulf Coast SY Group
Gulfport MS
PSV
Harvey Gulf
Harvey Freedom
10,500 hp
55
14-Nov
Gulf Coast SY Group
Gulfport MS
PSV
Harvey Gulf
Harvey America
10,500 hp
55
15-Mar
Gulf Coast SY Group
Gulfport MS
PSV
Harvey Gulf
Harvey Patriot
10,500 hp
55
15-Jul
Leevac Shipyards
Jennings LA
PSV
Tidewater Marine
270 ft.
Leevac Shipyards
Jennings LA
PSV
Tidewater Marine
270 ft.
2014
Leevac Shipyards
Jennings LA
PSV
Aries Marine
270 ft.
14-Oct
Leevac Shipyards
Jennings LA
PSV
Aries Marine
270 ft.
15-Feb
Leevac Shipyards
Jennings LA
PSV
Tidewater Marine
300 ft.
2015
Leevac Shipyards
Jennings LA
PSV
Tidewater Marine
300 ft.
2015
Master BB
Bayou La Batre AL
OSV
Seacor
200 ft.
13-Nov
Master BB
Bayou La Batre AL
OSV
Adriatic Marine
205 ft.
15-Mar
Master BB
Bayou La Batre AL
OSV
Adriatic Marine
205 ft.
15-Jul
Master BB
Bayou La Batre AL
OSV
Adriatic Marine
205 ft.
15-Nov
Master BB
Bayou La Batre AL
OSV
Adriatic Marine
205 ft.
16-Mar
Master BB
Bayou La Batre AL
OSV
Adriatic Marine
205 ft.
16-Jul
Master BB
Bayou La Batre AL
OSV
Adriatic Marine
205 ft.
16-Nov
North American
Larose LA
AHTS
Edison Chouest
North American
AHTS Ice
Edison Chouest
North American
AHTS Ice
Edison Chouest
North American
MPSV
Edison Chouest
North American
Houma LA
PSV
Edison Chouest
North American
Houma LA
PSV
Edison Chouest
North American
Houma LA
PSV
Edison Chouest
North American
Larose LA
PSV
North American
North American
North American
Larose LA
North American
Seacor Resolution
2014
2013
Russell Adams
280 ft.
2013
280 ft.
2013
280 ft.
2014
Edison Chouest
280 ft.
2014
PSV
Edison Chouest
280 ft.
2014
PSV
Edison Chouest
280 ft.
2014
PSV
Edison Chouest
280 ft.
2014
PSV
Edison Chouest
17 boats/20 options
312 ft.
Jim Davis
Blue Orca
Thoma-Sea Marine
Lockport LA
PSV
Harvey Gulf
295 ft.
2013
Thoma-Sea Marine
Houma LA
PSV
Thoma-Sea Marine
180 ft.
2012
Thoma-Sea Marine
Houma LA
PSV
Thoma-Sea Marine
265 ft.
Thoma-Sea Marine
PSV
Gulfmark Offshore
271-ft
36
Thoma-Sea Marine
PSV
Gulfmark Offshore
271-ft
36
2013
2012
2013
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Commander
320 ft.
45
4Q13
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Carolina
320 ft.
45
4Q13
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Claymore
320 ft.
45
1Q14
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Captain
320 ft.
45
1Q14
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Clearview
320 ft.
45
2Q14
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Crockett
320 ft.
45
2Q14
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Caledonia
320 ft.
45
3Q14
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Crestview
320 ft.
45
3Q14
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Cedar Ridge
320 ft.
45
4Q14
VT Halter
Pascagoula MS
PSV
Hornbeck Offshore
HOS Carousel
320 ft.
45
1Q15
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
12
Marcon International, Inc.
Supply Vessel Market Report – February 2014
News
ALP Maritime Services is to be acquired by Teekay Offshore Partners and, as part of
the deal, ordered four ultra-long distance anchor handling tugs. ALP said it would continue
to operate fully independently within Teekay following acquisition. As part of the deal ALP
ordered the AHTs at Niigata Shipyard in Japan. The vessels are co-designed by Ulstein
Design and Solutions. The model has been dubbed “ALP Future” and features Ulstein’s Xbow. The vessels, of SX–157 designation, are designed for long-distance towage of rigs
from yard to drill site and each equipped with four 18,000kW engines, DP2 capability and
accommodation for 18 officers and crew. Vessels are slated for completion in 2016.
On the morning of January 3, 2014, the first all-electric platform supply vessel Vard
PSV08 of six similar vessels building for Tidewater, was successfully launched at
Zhenjiang Shipyard. Boasting 83.8m x 18m x 8.4m depth, 4,100mtdw and 870m2 deck
area, the vessel not only applies the world-class streamline and clean design, but also
meets ABS class notations of A1 OSV, AMS, ACCU, DPS-2, ENVIRO, UWILD, HAB,
Fire FiFi-1, etc. for ocean vessels. The vessel is fitted with an advanced Blue Drive Plus
C power-supply system developed by Siemens, capable of
controlling generator operation with the fuel consumption
curve according to power variation during vessel operation. Frequency-changing power
improves the ASD’s boost to propellers efficiently to raise operational efficiency and reduce
energy consumption, nitrogen oxides and greenhouse gas emission. The hull is of highstrength steel to reduce weight in order to maximize load capacity and ratio of cargo deck
area to lightweight.
ASL Marine Holdings and its wholly-owned subsidiary, PT Sukses Shipyard Indonesia, agreed to buy a shipyard
owned by Miclyn Express Offshore (MEO) in Batam for US$ 20 million (S$ 25.6 million). The shipyard, to be
purchased from PT Loh & Loh Construction Indonesia, is located next to ASL Marine's existing shipyard in Batam.
The Batam shipyard was valued at around $33 million on 20 December last year. ASL Marine already owns four
shipyards located in Singapore, Batam and China. The MEO shipyard is situated in a free trade zone with industrial
areas designated specifically for shipyards with infrastructure such as roads, telecommunications, utilities and
supporting services. The sale assets comprise a site of 12.2 hectares with berthing / repair quays of 220 meters, two
ship repair slip / launch-ways and shipyard facilities (office building, fabrication shop, & machineries) which cater for
shipbuilding, vessel repair, modification and mobilization, as well as modular fabrication services. MEO is disposing of
the shipyard in order to focus on its core vessel chartering business.
Malaysia-based Silk Holdings Bhd’s subsidiary, Jasa Merin (Malaysia) Sdn Bhd, accepted
contracts extension by ExxonMobil Exploration & Production Malaysia Inc. for provision of
two 60MT AHTS vessels. The contracts’ extensions, commencing 2nd and 5th February
respectively, are for one year and are valued at approx. $6.97 million (MYR 23.287m).
French operators Bourbon announced transfer of ownership of 12 vessels to the
Chinese company ICBC Financial Leasing for a total value of approx. US$ 378
million, as part of the sale and bareboat charter agreement for up to 51 vessels signed
with ICBCL in April 2013. With the 9 vessels already transferred in September 2013,
this brings the total number of vessels transferred to ICBCL to 21 for a total value of
approx. US$ 522 million. The transfer of the remaining maximum 30 vessels should
take place during first half 2014. At the end of November 2013, Bourbon signed an
agreement with Standard Chartered Bank (SCB) for the sale and bareboat charter of
six new build vessels for a total amount of approx. US$ 150 million. The ownership of
three vessels has been transferred for an amount of nearly US$ 65 million at year end. The remaining three vessels
will be delivered to SCB during second half 2014. This agreement provides for a fixed bareboat charter rate of 10.2%
per year for 10 years. In addition to vessel disposals in line with the “Transforming for Beyond” action plan, Bourbon
sold older vessels in 2013 for a total value of US$ 183 million, some of which included a bareboat charter agreement.
Through implementation of its active fleet management program, Bourbon has achieved US$ 770 million of vessel
sales in 2013, generating a capital gain of approx. US$ 180 million.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
13
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Supply Vessels Worldwide
According to Lloyd’s Register Fairplay Sea-Web, as of February 17, 2014, there were 7,122 “seagoing” supply vessels over 100GRT worldwide. This is up 2.11% or 147 vessels since our November
report – and up 6.0% or 403 vessels over the last year. Total horsepower of this fleet is
38,668,809BHP, up 661,793BHP or 1.74% since our last report in November. The largest national fleet
of supply vessels worldwide in horsepower and count sails under U.S. registry. The U.S. operates 980
sea-going supply vessels over 100GRT, or 13.76% of the world market, totaling 4,223,770HP (10.92%
of global horsepower) with a 15 year average age. The registry with the youngest supply fleet is a tie
between Iceland, Myanmar and Portugal with each having one 2013 built OSV.
Top 50 “Sea-Going” Supply Vessel Fleets By Units as of February 2014 According to Lloyds Register
Flag
Worldwide
United States Of America
Singapore
Nigeria
Malaysia
Panama
Mexico
Brazil
China, People's Republic Of
Unknown
Norway (Nis)
Indonesia
Norway
Vanuatu
St Vincent & The Grenadines
India
Denmark (Dis)
Bahrain
Cyprus
United Kingdom
Liberia
Luxembourg
Marshall Islands
United Arab Emirates
Bahamas
Italy
Russia
Netherlands
Azerbaijan
St Kitts & Nevis
France (Fis)
Belize
Iran
Vietnam
France
Kuwait
Egypt
Comoros
Canada
Malta
Cayman Islands
Hong Kong, China
Thailand
Qatar
Australia
Turkmenistan
Antigua & Barbuda
Isle Of Man
Tuvalu
Kazakhstan
Belgium
Total BHP
%
# SVs
%
Avg BHP Avg Age
38,668,809 100.00% 7,122 100.00%
5,429
1998
4,223,770 10.92%
980 13.76%
4,310
1998
3,202,946 8.28%
545 7.65%
5,877
2008
845,516 2.19%
215 3.02%
3,933
1988
2,115,516 5.47%
390 5.48%
5,424
2006
2,006,779 5.19%
466 6.54%
4,306
1990
1,132,902 2.93%
268 3.76%
4,227
1993
1,574,223 4.07%
227 3.19%
6,935
2004
1,325,420 3.43%
196 2.75%
6,762
2000
1,186,491 3.07%
309 4.34%
3,840
1985
1,089,921 2.82%
107 1.50%
10,186
2004
1,010,109 2.61%
262 3.68%
3,855
1995
2,263,402 5.85%
209 2.93%
10,830
2006
1,846,486 4.78%
262 3.68%
7,048
2004
923,255 2.39%
205 2.88%
4,504
2001
975,670 2.52%
205 2.88%
4,759
1995
778,727 2.01%
69 0.97%
11,286
2002
562,130 1.45%
117 1.64%
4,805
2002
717,061 1.85%
93 1.31%
7,710
2006
666,692 1.72%
127 1.78%
5,250
1999
493,679 1.28%
58 0.81%
8,512
1999
424,471 1.10%
64 0.90%
6,632
2009
742,088 1.92%
122 1.71%
6,083
2006
606,932 1.57%
180 2.53%
3,372
1992
619,570 1.60%
58 0.81%
10,682
2001
518,927 1.34%
83 1.17%
6,252
1996
590,189 1.53%
65 0.91%
9,080
1995
182,508 0.47%
33 0.46%
5,531
2002
369,156 0.95%
55 0.77%
6,712
1992
127,030 0.33%
35 0.49%
3,629
1980
333,902 0.86%
48 0.67%
6,956
2003
206,819 0.53%
43 0.60%
4,810
1992
248,923 0.64%
67 0.94%
3,715
1985
256,239 0.66%
45 0.63%
5,694
1993
197,400 0.51%
23 0.32%
8,583
2008
94,213 0.24%
25 0.35%
3,769
2001
215,826 0.56%
55 0.77%
3,924
1986
126,985 0.33%
38 0.53%
3,342
1983
347,966 0.90%
33 0.46%
10,544
1989
199,529 0.52%
28 0.39%
7,126
1997
148,610 0.38%
23 0.32%
6,461
2003
157,636 0.41%
16 0.22%
9,852
2010
145,627 0.38%
42 0.59%
3,467
2006
196,886 0.51%
40 0.56%
4,922
2001
131,380 0.34%
34 0.48%
3,864
1999
124,385 0.32%
30 0.42%
4,146
1989
234,307 0.61%
21 0.29%
11,157
2004
395,028 1.02%
31 0.44%
12,743
2001
162,634 0.42%
30 0.42%
5,421
2005
84,634 0.22%
24 0.34%
3,526
1990
86,679 0.22%
8 0.11%
10,835
2005
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
14
Marcon International, Inc.
Supply Vessel Market Report – February 2014
New Construction, Shipyard and Conversion News
Build, build, build – sounds familiar. According to “Fairplay”, as of February 17, 2014, there were 7,116 ships over
299GRT on the World Orderbook. This is up 509 or 7.7% from 6,607 November – and up 711 or 11.1% over the last
year. Of the 7,116 ships recorded on order, 780 (up 52) are Offshore Supply Vessels and 342 (up 8) are designated as
“Offshore – Other” compared to November. In February 2013, there were 717 OSVs and 234 “Offshore-Other” vessels
under construction. Of the 780 OSVs under construction, China leads the Orderbook with a total of 320 (up 30) OSVs
being built. They are followed by USA 88, India 57, Brazil 55, Singapore 41, Malaysia 40, Indonesia 32, 25 Vietnam,
the UAE 19, 18 the Netherlands, Poland 12, 11 each Japan and Romania, 10 Norway, 9 South Korea, Spain 5, 4 each
Thailand and Turkey, 3 Russia, 2 each Chile, Italy, Saudi Arabia and South Africa and 1 each Australia, Egypt,
Greece, Iran, Malawi, Sri Lanka, the UK and the Ukraine. The 770 OSVs on the order books represents 10.81% of the
global OSV fleet of “sea-going” vessels over 100GRT which now has an average age of 15 years compared to an
average age of 16 years during first quarter 2013.
The below graph shows the estimated delivery dates for those OSVs on order.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
15
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Once again, CAT power leads by far the propulsion packages, with engines in 210 OSVs followed by Cummins in 107,
Niigata in 71, MaK 53, Wartsila 32, 31 MAN/MAN-B&W, Yanmar 21, MTU 17, Bergens 9, 5 General Electric, 4 Rolls
Royce, 3 Baudouin, 2 each Mitsubishi and Scania and 1 each Chinese Standard Type, Guangzhou, Pielstick and
Volvo Penta. Engines were not listed for 202 OSVs.
The demand is increasing for higher horsepower. The highest portion of OSVs over 299GRT being built worldwide are
now in the 4 – 5,000BHP with 100 OSVs or 12.8% of those OSVs where the horsepower is listed, followed by 85
OSVs or 10.9% and 81 or 10.4% being built in the 7 – 8,000HP and 3 - 4,000HP categories, respectively. No OSVs
are shown under 1,000BHP, but this is most likely because most of the OSVs being built in this horsepower range will
be under 299GRT. Last year at this time only 10.5% of the OSVs on the world order book were 4 – 5,000BHP vessels.
Summary of Horsepower – Fairplay Worldwide Offshore Supply Vessels Orderbook over 299GRT
OSVs
Under
1,000HP
0
1,000 –
1,999HP
20
2,0002,999HP
50
3,0003,999HP
81
4,0004,999HP
100
5,0005,999HP
74
6,0006,999HP
64
7,0007,999HP
85
8,0008,999HP
20
9,0009,999HP
16
Over
10,000HP
32
Unk.
Total
238
780
Deliveries
U.S. / Norwegian operator Island Offshore has taken delivery of PSV “Island Dawn”
from Vard Brevik shipyard in Norway. This is the third PSV in a series of four RollsRoyce UT 717 CD designs, delivered from Vard Brevik. Managing Director of Island
Offshore, Håvard Ulstein said, “It is always a pleasure to welcome another vessel to our
fleet, and with this being the third in a row we know that we receive quality. We look
forward to further strengthen our fleet as we complete the series later this year.” As per
her sister vessels, “Island Dawn” has an overall length of 84.45m, breadth of 17m with
3,800MT deadweight and a 800m2 deck capacity. The vessel will be transporting pipes
and general deck load, liquid cargo as well as cement and barite to drilling rigs in the North Sea. She is also prepared
for later duties as standby/rescue vessel. “Island Dawn” was christened during a ceremony at the yard in November
2013, with Mimmi Ulstein as godmother. Vessel is currently trading North Sea spot market. (Photo is of a sister).
Stanford Marine took delivery their new DP2, 3,600dwt, 75m Fujian Mawei built AHTS
“Stanford Hawk”. The vessel measures 246.1' loa x 219.4' lbp x 56.4' beam x 26.0' depth
x 21.00' loaded draft and is powered by four Cummins creating around 9,700BHP. The
vessel is flagged with the St. Vincent / Grenadine registry and classed ABS +A1, E,
Offshore Support Vessel, Oil Recovery Class 1, UWILD, FiFi Class 1, +AMS +DPS-2.
The vessel is working off Angola where the vessel is on a five year contract to Total E&P
Angola. (See also page 7).
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
16
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Troms Offshore Supply AS announced that Troms Offshore Fleet 2 AS, a
wholly owned subsidiary of Troms Offshore Supply AS and a Tidewater
company, took delivery of its newbuild No. 817 from VARD Aukra shipyard in
Norway. A naming ceremony was held in Bergen on Friday 31st January and
the ship was named “Troms Arcturus”. “Troms Arcturus” is a clean design
diesel electric PSV, 94.5m long and 21m wide with a free deck area of
1,170m2 and a deadweight of 5,660T. She is one of the largest PSVs
operating in Norway. PSV 07 is a new innovative design developed by STX
OSV and is a larger version of the well proven PSV 09 design. “Troms
Arcturus” is a Clean Design environmentally friendly ship with focus on low
fuel consumption and low emission of greenhouse gases. The vessel is
further arranged for rapid response operations, including rescue of personnel and oil recovery operations. The ship is
prepared for winterized operations, including the class notations ICE C and DEICE. Following the naming ceremony in
Bergen, “Troms Arcturus” will enter a long term contract for Statoil. The ship will primarily be positioned for operations
in the North Sea and in the Barents Sea, will fly Norwegian flag with a crew of 28 split on two shifts.
Seattle-based naval architecture and marine engineering company Guido Perla &
Associates, Inc. (GPA) marked its beginning of 2014 with the successful delivery of
the GPA 696 IMR “Bourbon Evolution 804”. The vessel is the fourth of ten IMR vessels
in this long-term newbuild project with Bourbon and Sinopacific Shipbuilding. The
series, the first DP-3 classed vessels in Bourbon’s entire fleet, is characterized by its
versatility allowing provision of services such as well stimulation, rescue, hotel vessels
or light intervention on wells while offering modern conditions aboard with meeting
rooms, offices, lounges and comfortable cabins. GPA supported the project in its
entirety, delivering the concept design, regulatory package and final design, as well as
providing onsite support to Bourbon and Sinopacific throughout construction. Designed and constructed in line with
GPA’s principles and methods, the customized vessel series using standard components grants optimized cargo
capacity, improved fuel consumption, ease of maintenance, redundancy, excellent maneuverability, superb sea
keeping and highest safety and comfort levels for the 105 crew members the vessels can each accommodate and
corresponds well with Bourbon’s built in series approach. “We have accompanied and fully supported the construction
of over 100 GPA-designed vessels for Bourbon at Sinopacific Shipbuilding in recent years. Each delivery is a further
significant milestone to us and reinforces our long-standing relationships with our clients and suppliers,” says George
Karantsavelos, Senior Naval Architect and Project Manager of the GPA 696 IMR series.
The 24,000BHP AHTS vessel “Far Sigma” was delivered from Vard Langsten to
Farstad Supply AS, a wholly owned subsidiary of Farstad Shipping ASA. The
vessel will trade the spot market in the North Sea. The long term finance of the
vessel is arranged by Eksportkreditt Norge AS in cooperation with GIEK and
Nordea Bank Norge ASA. The overall length of the vessel is 87.4m with a beam of
21m and powered by two 4,500kW Bergen B32:40L9P and four 2,230kW CAT
engines developing a bollard pull of 272 tons. Vard has in the past delivered four
equivalent vessels to Farstad Shipping.
St Johns Ship Building of Palatka, Florida delivered the new offshore
support vessel “Atlantic Spirit” to Inland and Offshore Contractors of
Trinidad and Tobago. “Atlantic Spirit” (No. 157) was designed by Entech &
Associates Inc. of Houma, Louisiana and the third delivery of this design,
with a fourth unit scheduled for delivery in late March or early April this year.
This ABS +A1 classed DP-1 “state-of-the-art” OSV has LOA of 157′-6″
(48.01m), breadth of 38′-0″ (11.58m), depth of 11′-6″ (3.51m), design draft
9′-0″ (2.74m) and maximum draft of 9′-8″ (2.95m). With boarded deck space
of 3,000ft2 (278.7m2), fuel capacity of 62,916g, 117,792g drill/ballast water,
and 22,510g potable water, the vessel is ideally suited for operations in the
Caribbean. The 2,000HP vessel is powered by twin CAT 3508Cs.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
17
Marcon International, Inc.
Supply Vessel Market Report – February 2014
J.D. Irving Limited’s Halifax, Nova Scotia, based Atlantic Towing has taken delivery of a
second DP2, newbuild FS Ice Class 1A, anchor handling tug supply from Jaya Holdings.
The 16,000BHP vessel, built as the “Jaya Sovereign”, was christened the “Atlantic Merlin” at
a naming ceremony held in Singapore. She is a sister ship to the “Atlantic Kestrel” delivered
to Atlantic Towing in November 2012. "The addition of this new vessel continues to add to
our fleet's capability and allows us to offer our customers, vessels that meet both current and
expanding needs, as offshore oil and gas projects grow," said Atlantic Towing VP Wayne Power. The 85.2m x 22.0m x
9.0m depth / 7.6m draft AHTS was built at Jaya Shipbuilding & Engineering’s yard in Singapore as Hull 881. She is
powered by a pair of 6,000kW Wartsila 12V32 diesels driving CP props giving her a bollard pull of 200 tons. Her
maneuverability is enhanced by twin 1,200kW forward and twin 830kW aft tunnel thrusters.
"This delivery once again demonstrates our capabilities as builder of high quality
vessels built to the most stringent international specifications," said Jaya's CEO
Venkatraman Sheshashayee, "This delivery begins another busy period for us and
is the first of four new buildings for Jaya in 2014 and the other three ships will be
operated in Jaya's growing fleet. This transaction is an important milestone for
Jaya's corporate development as it frees up a significant amount of cash to support
our growth. Shortly, we will take delivery of another large anchor handler from our
Singapore shipyard, the 150 tonr ‘Jaya Majestic’, a 12,000BHP vessel, which is
currently fitting out alongside in Tuas. We expect her to go out on sea trials in May.
‘Jaya Majestic’ is another high specification DP2 vessel with two bow thrusters and
two stern thrusters. We also have two Platform Supply Vessels (PSVs) delivering in the middle of the year from a third
party yard, which are already contracted to go on charter to a new client in the Americas. In 2015, we take delivery of
the most sophisticated subsea vessels we have ever built, ‘Jaya Pinnacle’ and ‘Jaya
Prestige’. These are under construction in our Batam shipyard, along with a third DP2
work boat. ‘Jaya Pinnacle’ and ‘Jaya Prestige’ will have deepwater active heave
compensated cranes rated for 100 ton lifts as well as 100 man accommodations and
large under deck capacities for specialty products such as methanol". At the time of
press, the vessel was enroute (we assume) to Canada.
Al-Kat Services took delivery of the new and fairly distinctive OSV “Mr Ernie” from
a new Louisiana yard called New Generation Shipbuilding. The flared bow and
fo'csle profile on the 171’ by 36’ “Mr. Ernie” is reminiscent of some of the
progressive international OSV designs. This can be attributed to additional super
structure design work by the Lafayette, Louisiana based office of Incat-Crowther
although the design and engineering support team also included Parfait Maritime,
Mino Marine, LLC and Farrell and Norton Naval Architects. A 13kn speed comes
from a pair of Cummins K38M Tier 2 diesels delivering a total of 2,000HP through
Twin Disc MGX-5321 gears to 72” x 65” Bird Johnson 4-blade propellers. A 350HP
Cummins QSM11 engine powers the Brunvoll bow thruster. Accommodations with
bunks and mess gives room for 32 people. The aft deck provides 112’ by 30’ of clear cargo space with a 375LT
capacity. Below deck there is extensive tankage including dual-purpose tanks for fuel or liquid mud. In addition to a
dedicated 13,460g potable water tank, there is also a 92,328g ballast or potable water tank. This will give the vessel
great flexibility with a total deadweight of 707LT.
Gulfmark Offshore took delivery of their new large PSV “North Cruys” (Hull
130) that was constructed at Simek AS in Flekkefjord, Norway. Measuring
92.6m x 19.2m x 8.5m depth / 6.95m draft, the 4,700mtdw vessel is a ST216 LCD design. Classed with DNV and notated Dynpos Autr and FS Ice Class 1B,
the 11,300BHP / 1,060m2 clear decked vessel flies the Norwegian flag. This is
the second of two sisters from Simek, the other being the “North Pomor”
delivered eight months previously. The diesel electric powered “North Cruys”
has three 2,810bkW Wartsila 9L26 diesels connected to generators driving two
2,600kW azimuthing drive units aft. The vessel is also fitted with two 1,100kW
bow tunnel and one 880kW retractable directional thruster forward.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
18
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Corporate News
Bourbon reported revenues in the 4th quarter were stable at €331.6 million compared to
the previous quarter (-0.3%) as new vessel deliveries had little impact on the quarter, all
having been delivered during the 2nd half and the previously announced sale of three older
vessels, which had almost no revenues during the quarter. “2013 revenues of more than
€1.3 billion, a complete range of 485 vessels with an average age of 6.2 years and the
broad geographical reach of its activities makes Bourbon a leader in the offshore marine
services industry”, says Christian Lefèvre, CEO of Bourbon. “Stability of utilization rates and a positive trend in annual
average daily rates are solid fundamentals in a context of continued fleet growth with 38 new vessel deliveries for a net
increase in the fleet of 27 vessels in 2013. Bourbon continues its focus on operational excellence and debt reduction
via the Transforming for beyond action plan. The asset smart portion of this action plan is progressing well with the
sale and bareboat charter of 24 vessels during 2013, the proceeds from which are primarily aimed at reducing debt.”
Marine Services revenues were up 5.1% year on year in the 4th quarter, primarily due to an addition of new vessels
into the fleet and a positive offshore demand environment. The reduced utilization rate in the quarter, partly due to
movement of vessels between regions, was offset by improved average daily rates, most notably in the Deepwater and
Crewboat segments. In addition, there was an impact on each of the Marine Services segments from change in
consolidation scope that became effective on January 1, 2013. Operational excellence continues to be an industry
driver strengthened by deployment of the OCIMF (Oil Companies International Marine Forum) vessel vetting system.
Average utilization rate
IMR vessels
Deepwater supply vessels
Shallow water supply vessels
Crewboats
BOURBON's Offshore Fleet Utilization Rates
Q4
Q3
Q2
Q1
Q4
2013
2013
2013
2013
2012
83.30%
82.90%
82.60%
84.20%
86.20%
89.20%
93.60%
88.00%
90.60%
91.70%
90.10%
88.80%
90.00%
86.60%
90.20%
90.20%
90.20%
89.10%
89.80%
92.20%
78.40%
77.50%
77.70%
80.80%
82.50%
Q3
2012
83.50%
85.20%
92.10%
90.30%
78.40%
Q2
2012
84.00%
89.70%
91.30%
92.50%
78.60%
Q1
2012
83.70%
85.70%
92.50%
84.30%
81.00%
Q4
2011
85.70%
91.00%
93.70%
88.30%
82.10%
For the 4th quarter 2013, deepwater offshore revenue increases were achieved partly due to higher average daily
rates being offset by reduced utilization rates. Winter seasonal effects weighed heavily on the average daily rates in
the North Sea in the 4th quarter 2013 compared to the prior quarter. Activity remained high driven by a large number of
exploration and development projects throughout the year. Annual increases in day rates were partly due to certain
contract renewals coming in at higher daily rates in West Africa and Latin America. Bourbon’s fleet was stable overall
in 2013 with deliveries of new vessels offset by the sale of older vessels.
Shallow water offshore’s revenues in the 4th quarter were up 7.5%, compared to 3rd quarter, mainly due to the
increase of the fleet by five vessels and increase in average daily rates mainly in Asia, MMI and Latin America.
Utilization rates were stable at a high level despite delivery of one new shallow water vessel every 18 days, on
average. The shallow water market continues to see the benefits of replacement of older vessels as clients seek
modern and efficient vessels to work their new jack-up rigs. In general, average daily rates increased in all regions,
especially in Latin America and MMI. They have been impacted by a regional mix effect due to the end of contracts in
Australia and Brazil where average daily rates and running costs are higher than other regions. In the 4th quarter, the
typical seasonal effects of the monsoons in Asia have not impacted Bourbon as most of the fleet has been fixed on
long term contracts.
Demand for offshore vessels is growing, helped by a relatively stable oil price
during the past several years. Deepwater offshore vessel demand growth
continues, driven by large projects and exploration programs in remote and
extreme locations. The high number of large PSVs coming out of the shipyards
could negatively affect the spot market. This should have only a small impact on
Bourbon, taking into account the high contractualization rate of its PSVs. Demand
in the shallow water market continues to be driven more than ever by renewal of
the fleet and operational excellence. In this segment, Bourbon will consolidate its
leadership on strength of its more than 100 Bourbon Liberty series ships with
diesel electric propulsion and DP2 which offers operational safety and fuel savings.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
19
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Farstad Shipping achieved an operating income of NOK 1,029.4 million for the fourth quarter (NOK
905.8 million for the same period in 2012). The operating costs for the period were NOK 649.4 million
(NOK 615.2 million). The increase in both operating income and operating costs is mainly due an
increased number of vessels in the fleet compared to last year. The profit after taxes was NOK 46.7
million (NOK 31.3 million). “Far Starling” (PSV 08 CD) was delivered from Vard Vung Tau, Vietnam
29 May. After a period where the vessel has been working on charter agreements of shorter duration,
the vessel will now start working on a long term contract with Woodside Energy Ltd.
PSV “Far Spica” and PSV “Far Scotsman” were awarded contracts of approx. 9
months duration each to support the Statoil drilling campaign off the coast of
East Africa. Start-up of contracts was in April. After some months in operation
off the coast of East Africa, “Far Spica” returned to the North Sea spot market.
“Far Scotsman” will continue to support Statoil’s operations in East Africa to end
June 2014. Perenco Petroleo e Gas do Brasil awarded AHTS “Far Sagaris” a
12 month contract with a 6 month option to support the “Ocean Star” drilling
campaign in Brazil. Start-up of the contract was in February 2013. Peterson
Den Helder B.V. awarded PSV “Far Splendour” a one year contract with two
yearly options. Start-up of the contract was beginning May 2013. The first of the options has now been declared, and
vessel secured employment until May 2015. Petrobras awarded both PSV “Far Strider” and PSV “Far Star” four year
contracts in Brazil. Start-up of contracts was in August 2013, and Petrobras has the option to extend the contracts for
four years. Petrobras also awarded PSV “Far Supporter” a three year contract. This contract is in continuation of the
existing contract and the vessel is secured employment to May 2016. ENI Australia awarded the AHTS “Far Sky” and
the ATHS “Far Grip” contracts of five months duration with option to extend both contracts with additional five months
in connection with operations at ENI’s gas field Evans Shoal off Northern Australia. The vessels are secured
employment beginning March 2014. BHP Billiton awarded AHTS “Far Sword” and AHTS “Far Sound” contracts to
support the semi-submersible drilling rig “Jack Bates” off North Western Australia. The vessels are secured
employment beginning March 2014. Chevron awarded AHTS “Far Strait” an 18 months contract to support the “Ocean
America” offshore Western Australia. Start-up was in October 2013, and charterer has the option to extend the
contract for 4x3 months. Brunei Shell Petroleum awarded AHTS “Lady Caroline” a five months contract to support
the company’s operation in Brunei waters. Vessel is secured employment to end April 2014. Shell Brazil awarded
AHTS “Far Senator” a six month contract with a two month option to support Shell’s drilling campaign in Brazil. Startup was in October 2013. Total E&P do Brazil awarded PSV “Far Swift” a six month contract to support their drilling
campaign in Brazil. Start-up was in December 2013. Petrobras declared a five
month option to extend the contract for AHTS “Far Sailor” from October 2013.
The IMR vessel “Far Saga” was awarded a contract with Petrobras for a period
of six years with six year options. The contract includes ROV support and other
subsea related activities in Brazilian waters. “Far Saga” left the North Sea at the
end of February 2014. Petrobras has extended the contract for AHTS “Far Sea”
with a further four years from November 2013. The contract coverage of the
Farstad Fleet is approx. 66% for 2014, and approx. 43% for 2015. These figures
include the charterer’s options to extend certain contracts
Uncertainty about development of the oil price and oil companies focus on costs have so far not been reflected in
reduced activity level offshore. In the fourth quarter, the North Sea market was better than the corresponding period
last year, but weaker than expected. For the rate level to be acceptable, especially for AHTS, the market balance has
to improve further. This depends on a net departure of tonnage to other markets. The supply of tonnage that the North
Sea market now experiences, could threaten an improvement in the market balance. The Brazilian market continues to
develop positively, while the market situation is stable for the markets in the Indian Pacific region. The challenge in
Indian Pacific is the considerable number of newbuilds on order at yards in the region. A continued positive
development in the subsea market will be dependent on what happens on the supply side, and that current projects
are implemented as planned. Farstad Shipping’s fleet consists of 59 vessels: 25 PSV, 31 AHTS and three SUBSEA
vessels. Farstad Shipping has currently five newbuilds (two PSV, one AHTS and two SUBSEA) under construction for
delivery in the period between April 2014 and July 2015. At the moment, 17 vessels are stationed in Brazil, 15 vessels
in North- West Europe, 26 in the Indian Pacific region and one vessel in East Africa.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
20
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Seacor Holdings Inc.’s net income for fourth quarter ended December
31, 2013 was $8.4 million, compared to $30.3 million the preceding
quarter ended September 30, 2013. Fourth quarter results included a
reduction in gains on equipment sales, costs and lost revenues associated
with the drydocking of one of Seacor's tankers, a seasonal reduction in
liftboat fleet activities and equity losses relating to the structural failure of an Argentinian terminal facility. These
reductions were partially offset by higher barge pool activity levels arising from the seasonal harvest. Offshore Marine
Services - Operating revenues for the fourth quarter were $148.4 million compared with $156.2 million in the
preceding quarter. Income from operations for the fourth quarter was $18.8 million compared with $45.8 million in the
preceding quarter, including gains on asset dispositions of $3.1 million in the fourth quarter and $15.3 million in the
preceding quarter. In the U.S. Gulf of Mexico, operating revenues were $6.1 million lower in the fourth quarter. Time
charter revenues for Seacor's liftboat fleet were $5.7 million lower primarily due to seasonal drydocking activity and a
reduction of 163 available days following the disposal of two liftboats during the preceding quarter. In keeping with past
practice, Seacor normally plans for the drydocking of liftboats during the winter months as the demand for the liftboat
fleet is typically stronger in the summer months. Time charter revenues for Seacor's anchor handling towing supply
vessels were $2.9 million lower due to weaker market conditions. Time charter revenues for other vessel classes were
$2.9 million higher primarily due to a reduction in drydocking days and the repositioning of a vessel into the region.
Utilization was 77.9% compared with 75.9% in the preceding quarter and average day rates decreased from $19,060
per day to $18,224 per day. As of December 31, 2013, Seacor had no vessels cold-stacked in the U.S. Gulf of Mexico.
Seacor Holdings Rates & Utilization
2013
31-Dec
30-Sep
18
8
25
30
18
8
25
29
$26,773
$7,805
$10,584
$16,906
$8,744
2012
30-Jun
31-Mar
31-Dec
18
8
25
29
19
9
25
29
19
9
25
29
$29,008
$8,048
$9,922
$17,541
$10,970
$23,635
$7,721
$9,621
$16,864
$9,156
$26,683
$7,666
$9,642
$14,915
$9,349
74%
94%
88%
82%
84%
75%
96%
88%
75%
83%
74%
97%
86%
83%
79%
1,564
552
2,208
1,564
184
1,564
552
2,208
1,564
184
1,547
565
2,184
1,538
182
30-Sep
2011
30-Jun
31-Mar
31-Dec
30-Sep
30-Jun
31-Mar
19
9
25
28
19
9
25
31
19
9
26
33
19
8
26
35
19
8
27
34
19
8
26
34
19
9
26
33
$25,059
$7,664
$10,001
$16,599
$9,573
$22,794
$7,735
$9,806
$16,567
$8,265
$24,541
$7,424
$9,679
$14,354
$9,269
$30,928
$7,409
$9,230
$16,662
$9,301
$27,689
$6,276
$8,806
$14,087
$10,904
$27,287
$7,535
$9,302
$15,459
$8,809
$32,179
$7,494
$9,180
$13,561
$8,484
$29,685
$7,677
$8,870
$13,224
$10,388
74%
74%
88%
72%
100%
63%
85%
87%
87%
94%
57%
88%
89%
77%
54%
63%
98%
87%
75%
51%
77%
98%
86%
84%
48%
70%
96%
90%
82%
44%
52%
87%
88%
70%
43%
53%
77%
89%
74%
33%
34%
62%
84%
65%
68%
1,530
630
2,160
1,581
180
1,632
644
2,208
1,656
184
1,564
644
2,208
1,631
184
1,547
637
2,195
1,649
360
1,547
637
2,275
1,705
364
1,564
644
2,355
1,798
368
1,564
644
2,392
1,748
368
1,547
728
2,291
1,591
494
1,530
779
2,250
1,548
540
Fleet Count:
AHTS
Mini-Supply
Standby-Safety
Supply/Towing Supply
Day Rates:
AHTS
Mini-Supply
Standby-Safety
Supply
Towing Supply
Utilization:
AHTS
Mini-Supply
Standby-Safety
Supply
Towing Supply
Available Days:
AHTS
Mini-Supply
Standby-Safety
Supply
Towing Supply
In international regions, operating revenues were $1.7 million lower in the
fourth quarter. In West Africa, time charter revenues were $2.3 million lower
primarily due to an increase in out-of-service time for drydocking. In Europe,
time charter revenues were $1.3 million higher primarily due to an increase in
average day rates attributable to several contractual price escalators and a
reduction in drydocking days. Excluding wind farm utility vessels, utilization
was 85.1% compared with 88.7% in the preceding quarter and average day
rates increased from $13,211 per day to $13,250 per day.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
21
Marcon International, Inc.
Supply Vessel Market Report – February 2014
In the fourth quarter, the total number of days available for charter for Seacor's fleet,
excluding wind farm utility vessels, decreased by 318 days, or 3%, primarily due to net
fleet dispositions. Overall utilization, excluding wind farm utility vessels, decreased from
83.0% to 82.0%. Overall average day rates, excluding wind farm utility vessels,
decreased by 2% from $15,677 per day to $15,355 per day. During the fourth quarter,
Seacor sold five offshore support vessels and other equipment for net proceeds of $56.7
million and gains of $14.8 million, of which $3.1 million was recognized and $11.7 million
was deferred. During the preceding quarter, Seacor sold six offshore support vessels and
other equipment for net proceeds of $42.2 million and gains of $15.3 million, all of which
was recognized currently.
As of December 31, 2013, Seacor's unfunded capital commitments were $547.0
million and included: 16 offshore support vessels for $112.7 million; 80 inland river dry
cargo barges for $40.2 million; six inland river tank barges for $4.7 million; five inland
river towboats for $4.7 million; three U.S.-flag product tankers for $374.1 million and
other equipment and improvements for $10.6 million. Subsequent to December 31,
2013, Seacor committed to purchase one
U.S.-flag articulated tug-barge and additional
equipment for a total of $94.1 million. During
2013, capital expenditures were $195.9
million. Equipment deliveries included eight
offshore support vessels, two inland river liquid tank barges, one inland river
towboat, one RORO vessel and four U.S. flag harbor tugs. During 2013,
Seacor sold 19 offshore support vessels, 16 inland river dry cargo and deck
barges, eight inland river liquid tank barges, eight U.S.-flag harbor tugs and
other property and equipment for net proceeds of $274.3 million.
Australian marine logistics firm Mermaid Marine Australia Ltd. out of Perth has agreed to
buy the offshore business of Jaya Holding Ltd for A$ 550 million (US$ 495.96 million) to
expand its international portfolio. Mermaid Marine Australia, which provides vessel and
supply base services to offshore oil and gas explorers, will expand its scale in the Southeast
Asian and Middle Eastern markets through the acquisition, the company said in a statement.
The company will fund the acquisition through an A$ 317 million equity raising and new debt
facilities from its existing debtors. The acquired businesses include 27 vessels currently
operating in South East Asia, the Middle East and East and West Africa, two shipyards in
Indonesia and Singapore, and a new build pipeline of six vessels for delivery by 2015. The deal, subject to shareholder
approval and expected to be completed by April, will deliver mid-single-digit earnings growth in full-year 2014,
excluding transaction expenses.
Baker Hughes, provider of reservoir consulting, drilling, pressure pumping,
formation evaluation, completion and production products and services to the
worldwide oil and gas industry, reported revenue for the fourth quarter of 2013
was $5.860 billion, up 10.51% compared to $5.787 billion for the second
quarter of 2013 and up 10.05% compared to $5.325 billion for the fourth
quarter of 2012. "In 2013, we posted record revenue driven largely by the
Eastern Hemisphere where our operations grew by 14% compared to 2012,"
said Martin Craighead, Baker Hughes Chairman and Chief Executive Officer.
"This success can largely be attributed to meaningful share gains in high
growth markets such as the Middle East and Africa. In our Middle East/Asia Pacific segment, we grew revenue 24%
during the year, with solid improvement in profitability compared to last year. In Latin America, we realigned our
business to drive better profitability ending the year with 12% operating profit margins. ... Looking forward, we project
increased activity in all of our operational segments in 2014, led by 10% rig count growth in international markets and
5% well count growth in the U.S. By increasing the pace of innovation, we are delivering new products and unique
solutions that are helping our customers meet their drilling and production challenges."
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
22
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Havila Shipping ASA of Fosnavag, Norway achieved profit before tax of NOK 4.3 m in Q4
2013, compared with NOK 11.0 m in Q4 last year. Year to date, the profit before tax was NOK
93.4m, compared with NOK 17.8m per 31/12/12. Total operating income and gains was NOK
360.2m in the Q4 of 2013. Total operating income for corresponding period last year was NOK
340.8m. Year to date, total operating income and gain was NOK 1.459.7 m whereof NOK 1.6
mill was profit from sale of vessel. Compared with NOK 1.412.7m per 31/12/12, whereof NOK
1.7m was profit from sale of vessel. Havila Shipping ASA, achieved a profit before tax of NOK
93 million for 2013, compared with NOK 18 million in 2012. Freight income was NOK 1.46 billion in 2013 which was an
increase of NOK 104 million on the previous year despite the company operating with one less vessel than in 2012.
The operating profit before depreciation was NOK 699 million in 2013 (the highest in Havila’s history), compared with
NOK 593 million 2012. Havila Shipping ASA had 27 modern vessels in operation at the end of 2013, including a leased
vessel and one vessel under management agreement. Havila still has one of the youngest fleets in the market with a
value adjusted average fleet age at the end of the year of 5 years and 4 months.
Havila signed new contracts worth NOK 2.9 billion in 2013, which is a new
record. Value of fixed contracts has never been higher and was NOK 3.5 billion
at the end of the year. In 2013, Havila entered into an agreement with
DeepOcean for the subsea vessel “Havila Phoenix” for a fixed period of seven
years, with four option periods of one year each. The Group also entered into
new contracts with Statoil for the anchor handling vessels “Havila Mars” and
“Havila Mercury” for fixed periods of one year and three years respectively and
with corresponding total option periods. The company also entered into
contracts with Statoil for the platform supply vessels “Havila Clipper” and
“Havila Crusader”. The contract for “Havila Clipper” was for a fixed period of four
months with four monthly options. The contract for “Havila Crusader” was for a
fixed period of six months with two options of three months each. The Group
also secured two four-year contracts with Petrobras for the platform supply vessels “Havila Princess” and “Havila
Faith” with the right to an extension for an additional four years. Fugro TSM extended the fixed contract period for the
subsea vessel “Havila Harmony” to four years with an additional two option periods of one year each. The Group also
entered into a contract with Shell Global for the platform supply vessel “Havila
Borg” for a one year fixed period with four option periods of one year each.
Statoil exercised the first two year option for the rescue and recovery vessel
“Havila Troll”. Havila Shipping also secured a one year contract with Subsea7
for “Havila Subsea”, with two option periods of one year each. In addition, the
Group entered into a contract with Centrica for the platform supply vessel
“Havila Fortune” for two wells estimated at 280 days and an option for four wells
estimated at 180 days. 2013 was a good year for the three anchor handling
vessels that operated in the spot market for the North Sea. The average day rate
for these vessels increased by 49% compared with 2012, while utilization
increased by 2% points. Utilization of the entire fleet for 2013 was 93% which is
about the same level for 2012.
Havila expects increased demand for shipping services in years ahead, but the supply of vessels is also increasing.
Stronger requirements for tonnage in the form of more cost-effective vessels, reduced harmful emissions, as well as
growing demands on operators will affect the industry. A large increase in the number of vessels will in periods have
an effect on the rate levels. The company is exposed to fluctuations in rates
because part of the fleet operates in the spot market. Renewal of the fleet
which is carried out will help to reduce this risk, and contribute to Havila
Shipping being a preferred supplier of offshore service vessels. Expectations of
high oil prices in the long term are positive for the oil industry and help to
maintain the demand for offshore service vessels. Havila’s fleet currently
operates in the Norwegian, British and Danish sectors of the North Sea. In
addition, the Group also has vessels in Malaysia, Brazil and Benin. Through its
involvement in POSH Havila Pte Ltd. in Singapore, the Group also operates in
the Asian market for offshore vessels.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
23
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Ultrapetrol (Bahamas) Limited recorded total revenues for fourth quarter of 2013 of
$99.0 million as compared with $86.3 million in the same period of 2012. Adjusted
net loss for the fourth quarter of 2013 was $(7.4) million, as compared with net loss of
$(13.4) million during the same period of 2012. Fourth quarter 2013 adjusted net loss
excludes the effect of a $0.1 million gain for deferred taxes on unrealized foreign
exchange losses on U.S. dollar-denominated debt of Ultrapetrol’s Brazilian subsidiary in its Offshore Supply Business
and a $0.1 million gain related to the sale of dry barges which were subsequently leased back to Ultrapetrol. Before
adjusting for these effects, the recorded total net loss was $(7.2) million.
Felipe Menéndez, Ultrapetrol's President and CEO, stated, "Over the course of 2013, we accomplished every objective
that we had set for the year, enabling Ultrapetrol to further strengthen its balance sheet, earnings power and future
prospects. … Complementing this success, we capitalized on attractive growth opportunities including investing close
to $100.0 million in three new, very large PSVs for our offshore supply fleet which will enter service early in 2014.
These new vessels provide not only extraordinary capacity, with over 1,000 square meters on deck and in excess of
5,000 dwt each, but are also fully diesel electric and have the capability
to operate as subsea support vessels, opening a window to a full array of
new services for our Company. At the same time, in 2013, we took
delivery of two new construction PSVs from India, ‘UP Amber’ and ‘UP
Pearl’, which entered service under four-year contracts with Petrobras.
Additionally, four of our existing PSVs in Brazil renewed their four year
employments at significantly increased rates." Mr. Menéndez continued,
"In 2013, we achieved our goal of constructing 58 barges for third parties
at our yard (the largest third party yearly delivery so far) and, while we have committed to further third party
constructions in 2014, we also have a robust plan to build barges for our own river fleet. Our River Business in 2013
experienced favorable climatic conditions, which led to normal crop levels and increased volumes over those
transported in 2012. We are pleased that the average contracts of affreightment expiring in 2013 were renewed at
increased rates and that we successfully entered into new long-term agreements to time charter part of our fleet to
Vale, which will stabilize the future earnings of our river fleet and, together with our new iron ore transshipment facility,
should contribute significantly to our EBITDA…" Mr. Menéndez concluded, "With most of our earlier investments
already producing substantial results and a firm financial structure in place, we are in a very strong position to
capitalize on the growth opportunities that lie ahead."
In the Offshore Supply Business, Ultrapetrol now operates a fleet of eleven PSVs, ten of which are contracted to
Petrobras in Brazil, and one operates in the North Sea. Ultrapetrol’s recently delivered “UP Pearl” commenced
operations on 25th November 2013, under a four-year charter with Petrobras after finalizing the vessel's positioning trip
and completing the set-up work for that charter. In addition, Ultrapetrol recently acquired three newbuilt 4,500 class
PSVs delivered off the yard in China and scheduled to commence operation early
second quarter 2014. Adjusted EBITDA generated by the Offshore Supply Business
segment during fourth quarter 2013 was $11.1 million, 37% higher than the $8.1
million adjusted EBITDA generated in the same period of 2012. Total revenues from
Ultrapetrol’s Offshore Supply Business for fourth quarter 2013 increased by $3.0
million compared 2012. This 14% increase was primarily attributable to operation of
Ultrapetrol’s “UP Amber” and “UP Pearl”, which commenced charters with Petrobras
on 1st August, and 25th November 2013, respectively, to higher operating days of its
“UP Jade”, and on account of charters of “UP Agua-Marinha”, “UP Topazio” and “UP
Diamante” renewed with Petrobras in second quarter 2013 for four years at $35,380/day compared to their expiring
charters at $28,000/day. Also, during second quarter 2013, the charter of “UP Esmeralda” was renewed for four years
at $31,950/day compared to its expiring charter of $26,200/day. It is expected that the full effect of these new vessels
will positively impact Ultrapetrol’s results in the forthcoming quarters as well. During fourth quarter 2013, Ultrapetrol
cancelled the shipbuilding contract for Hull No. V-387 (“UP Onyx”) on account of the shipyard's delay in delivering the
vessel. Pursuant to refund guarantees issued by certain banks, the appropriate repayment demands have been settled
on 6th January and 24th January 2014, with proceeds to Ultrapetrol of $17.7 million. Ultrapetrol believes that the
Brazilian market should grow in-line with Petrobras' capital expenditure plans. Its offshore fleet has the advantage of
being modern and technologically capable of supporting deep sea oil drilling in both Brazilian and North Sea markets.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
24
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Hornbeck Offshore Services’ net income for fourth quarter 2013 was $22.2 million compared to
$11.3 million for the year-ago quarter, and net income of $59.2 million for third quarter 2013. Included
in Hornbeck's third quarter net income is a gain of $60.0 million ($38.1 million after-tax) related to the
sale of substantially all of its Downstream assets on August 29, 2013. Excluding the impact of the gain
on sale of Downstream assets, net income for third quarter 2013 would have been $21.1 million.
Hornbeck's income from continuing operations for fourth quarter 2013 was $22.1 million, compared to
$9.4 million for the year-ago quarter and $17.8 million for third quarter 2013. Revenues were $144.9
million for fourth quarter 2013, an increase of $26.3 million, or 22.2%, from $118.6 million for fourth quarter 2012; and
an increase of $12.0 million, or 9.0%, from $132.9 million for third quarter 2013. The year-over-year increase in
Upstream revenues primarily resulted from improved market conditions for Hornbeck's MPSVs and four newly
constructed vessels placed in service under Hornbeck's fifth OSV newbuild program. Vessels placed in service during
2013 under Hornbeck's ongoing newbuild program accounted for a $7.9 million year-over-year increase in revenues.
Operating income was $43.7 million, or 30.2% of revenues, for fourth quarter 2013 compared to $29.6 million, or
25.0% of revenues, for the prior-year quarter; and $37.2 million, or 28.0% of revenues, for third quarter 2013. Average
new generation OSV dayrates for fourth quarter 2013 were $27,781 compared to $24,024 for the same period in 2012
and $27,545 for third quarter 2013. New generation OSV utilization was 79.4% for fourth quarter 2013 compared to
84.0% for the year-ago quarter and 80.7% for the sequential quarter. Hornbeck's high-spec OSVs achieved an
average utilization of 78.4% for fourth quarter 2013, while maintaining leading-edge spot dayrates in the $36,000 to
$43,000 range. After adjusting for 84 days of fourth quarter 2013 downtime for regulatory drydockings, Hornbeck's
commercially available high-spec OSV fleet achieved an effective utilization of 80.8%.
Hornbeck Offshore Services’ Utilization & Day Rates
Number Vessels
Avg. Dwt
Utilization
Avg. Dayrate
31-Dec
51.7
2,752
79.40%
$27,781
2013
30-Sep
30-Jun
50
50
2,611
2,538
80.70% 88.30%
$27,545 $26,079
31-Mar
51
2,514
86.70%
$25,142
31-Dec
51
2,514
84.00%
$24,024
2012
30-Sep
30-Jun
51
51
2,514
2,514
79.50% 88.10%
$23,990 $23,335
31-Mar
51
2,514
81.10%
$22,419
31-Dec
51
2,514
83.50%
$21,863
2011
30-Sep
30-Jun
51
51
2,514
2,514
75.30% 67.90%
$20,945 $20,493
31-Mar
51
2,514
59.00%
$21,011
As of December 31, 2013, excluding four inactive non-core vessels (two of
which have been sold thus far in 2014 at a nominal gain) and two OSV
newbuild deliveries that occurred in February 2014, Hornbeck's operating fleet
consisted of 53 new generation OSVs and four MPSVs. Hornbeck's active
Upstream Fleet for fiscal years 2014 and 2015 is expected to be comprised of
an average of 58.7 and 67.7 new generation OSVs, respectively. For fiscal
2014, the active new generation OSVs are comprised of an average of 23.0
"term" vessels that are currently chartered on long-term contracts and an
average of 35.7 "spot" vessels that are currently operating or being offered for
service under short-term charters. Hornbeck expects to operate a total of 4.5
MPSVs in fiscal 2014 and 5.3 in fiscal 2015. Hornbeck's forward contract coverage for its current and projected fleet of
active new generation OSVs for fiscal years 2014 and 2015 is currently 48% and 18%, respectively. Hornbeck's
forward contract coverage for its four MPSVs for fiscal years 2014 and 2015 is currently 48% and 6%, respectively.
These contract backlog percentages are based on available vessel-days for the guidance periods, not estimated
revenue. Effective, or utilization-adjusted, new generation OSV dayrates for Hornbeck's projected average of 23.0
active "term" OSVs are expected to be in the $22,000 to $23,000 range for the full-year 2014. This range does not
reflect the incremental impact of any revenue expected to be derived in fiscal
2014 from Hornbeck's "spot" OSVs. Hornbeck does not provide annual
guidance regarding the effective dayrates anticipated for its "spot" new
generation OSVs due to the wide range of potential outcomes of its current
domestic and international bidding activity for such vessels. Leading-edge spot
market OSV day rates in the Gulf of Mexico for Hornbeck's 240 and 265 class
DP-2 equipment have recently softened from previous levels due to transitory
supply-demand fundamentals. Hornbeck expects that its maintenance capital
expenditures for its Upstream fleet of vessels will be approx. $57.3 million and
$35.8 million, respectively, for the full-years 2014 and 2015, respectively.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
25
Marcon International, Inc.
Supply Vessel Market Report – February 2014
In November 2013, Hornbeck returned to service the final two vessels of the six vessels included in its 200 class OSV
retrofit program. The project costs for these discretionary vessel modifications were approx. $50.5 million, in the
aggregate ($8.4 million each), all of which was incurred during fiscal 2013; and Hornbeck incurred approximately 752
vessel-days of aggregate commercial downtime during 2013 for the six vessels (roughly 125 vessel-days each).
Hornbeck's fifth OSV newbuild program now consists of four 300 class OSVs, five
310 class OSVs, ten 320 class OSVs and five 310 class MPSVs. On 19th February,
Hornbeck announced plans to convert one of its existing 310 class OSVs currently
under construction into a 310 class MPSV. This new U.S.-flag, Jones Act-qualified
MPSV will require an additional period of modification in the shipyard and include a
150-ton heave-compensated knuckle-boom crane, helideck, accommodations for 70
and will be suitable for two work-class ROVs. As of February 19, 2014, Hornbeck
has placed six vessels in-service under this program – four in 2013 and two in
February 2014. The 18 remaining vessels under this 24-vessel domestic newbuild
program are currently expected to be delivered in accordance with below:
During the fourth quarter of 2013, Hornbeck experienced production delays at one of the shipyards contracted for the
construction of HOSMAX OSVs. Insufficient labor resources and poor component vendor performance had a direct
negative impact on eight of the remaining vessel deliveries, causing Hornbeck to move back the delivery projections
for those vessels by approx. 45 days per vessel. However, the overall newbuild program is still 98% on-time and
remains on budget. Based on the updated schedule above of projected vessel in-service dates, Hornbeck now expects
to own and operate 66 and 68 and new generation OSVs as of December 31, 2014 and 2015, respectively. These
vessel additions result in a projected average new generation OSV fleet complement of 58.7, 67.7 and 68.0 vessels for
the fiscal years 2014, 2015 and 2016, respectively. Based on the updated schedule above of projected vessel inservice dates, Hornbeck now expects to own and operate five, seven, and nine MPSVs as of December 31, 2014,
2015, and 2016, respectively. These vessel additions result in a projected average MPSV fleet complement of 4.5, 5.3
and 7.8 vessels for the fiscal years 2014, 2015 and 2016, respectively. The aggregate cost of Hornbeck's fifth OSV
newbuild program, excluding construction period interest, is now expected to be approx. $1.25 billion, of which $395.3
million, $116.9 million and $21.3 million is expected to be incurred in 2014, 2015 and 2016, respectively. From the
inception of this program through December 31, 2013, Hornbeck has incurred $716.5 million, or 57.3%, of total
expected project costs, including $113.1 million that was spent during the fourth quarter of 2013.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
26
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Schlumberger Ltd. reported fourth quarter 2013 revenues of US$ 11.91 billion
versus $11.61 billion in the third quarter of 2013, and $11.08 billion in fourth quarter
2012. Income from continuing operations excluding charges and credits, was $1.79
billion - an increase of 4% sequentially and an increase of 28% year-on-year. Oilfield
Services revenue of $11.91 billion was up 3% sequentially and increased 7% year-on-year. Oilfield Services pretax
operating income of $2.60 billion was up 4% sequentially and increased 23% year-on-year. Schlumberger CEO Paal
Kibsgaard commented: “We ended 2013 with revenue of more than $45
billion, up 8%, and growing for the fourth consecutive year. International
Area revenue grew by $3.2 billion, or 11%, from higher exploration and
development activity--both offshore and in key land markets. In North
America, we demonstrated continued resilience to the challenges of the
land markets by growing the business by close to $400 million, or 3%,
aided by our strong position in the offshore market, particularly in the US
Gulf of Mexico. Full-year pretax operating income grew 15%, with
International delivering a 24% increase and International margin expanding
by more than 200 basis points for the second consecutive year to reach
22.2% while still posting a margin of 19.7% in North America.”
Our fourth-quarter results were driven by solid activity in key international markets and strong year-end product,
software and multi-client seismic sales in almost all areas. Growth was strongest internationally, where revenue set a
new record high, but all Areas recorded sequential growth underpinned by the quality and efficiency of our execution.
Overall results were, however, impacted by the temporary shutdown of activity in South Iraq and seasonal slowdowns
in North America, the North Sea, Russia and China.
Geographical results were led by the Middle East & Asia, with continuing strength in the key markets of Saudi Arabia
and the United Arab Emirates as well as in exploration activity in Malaysia and Australia. Deepwater exploration work
and strong project management activity in Argentina and Ecuador led Latin America higher, while Europe/CIS/Africa
made progress through significant activity in Angola, Azerbaijan and Turkmenistan. In North America, deepwater
activity in the Gulf of Mexico continued to be strong, while on land increased service intensity, improved efficiency,
market share gains, and new technology uptake was again offset by further pricing weakness in most product lines.
Among the Technologies, year-end sales most benefited the
Production and Reservoir Characterization groups. Software
and multi-client license sales were more than sufficient to
offset seasonal effects in WesternGeco and Wireline activity
as seismic surveys and exploration drilling projects were
completed in northern regions. Underlying activity was robust
for the Drilling Group on international demand in key markets
and grew in Mexico, Saudi Arabia and Iraq for integrated
project management work. New technology sales remained
strong across all groups, offering select opportunities for
higher pricing in a competitive international market. The
overall global economic outlook continues largely unchanged, with fundamentals continuing to improve in the U.S., and
Europe seemingly set for stronger growth. These positive effects should overcome lower growth in some developing
economies and support a continuing rebound in the world economy. Largely as a result, forecasts for oil demand in
2014 have been revised upwards to reach the highest demand growth in several years. Supply is expected to keep
pace with demand, with the market, therefore, remaining well balanced. Natural gas prices internationally should be
supported by demand in Asia and Europe. In the U.S., we see no change in fundamentals, with any meaningful
recovery in dry gas drilling activity some way out in the future. The quality of our results in 2013 was driven by strong
new technology sales and an unwavering focus on execution and resource management. With E&P spending
expected to grow further in 2014, led by international activity and continuing strength in deepwater US Gulf of Mexico,
we remain positive about the year ahead on the back of a well-balanced business portfolio, wide geographical footprint
and strong operational, organizational, and executional capability.”
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
27
Marcon International, Inc.
Supply Vessel Market Report – February 2014
GulfMark Offshore, Inc. reported consolidated revenue for the fourth quarter ended December
31, 2013 of $124.6 million and net income of $25.6 million. Quintin Kneen, President and CEO,
commented, "In 2013 we saw strong and continuously improving utilization and day rates, we
exited the year with our highest fourth-quarter revenue ever, and we expect full-year 2014
average day rates and utilization to be even better than what we experienced in 2013…. The
Americas region was exceptionally strong during 2013, with average utilization for the year
surpassing 90% for the first time since 2008. This strength was primarily driven by high levels of
drilling activity in the U.S. Gulf of Mexico. Although we are currently seeing indications of
temporary softness as vessel deliveries precede new rig additions, we expect this strength to
resume during the second half of the coming year, as the number of floating rigs operating in
the area is expected to increase by as much as one-third from the current count. In addition, we continue to make
improvements in our operational efficiency in Brazil that will allow us to improve profitability in that area. Mexico
continues to deliver a strong return on investment for us, and we believe it will be an area of growth over the next
couple of years as we are encouraged by the potential impact that recent reform will have on offshore drilling activity.
The North Sea continued to be a strong market with our utilization also surpassing 90% for the year. We experienced
the annual seasonal slowdown during the fourth quarter and likewise thus far in 2014, although we continue to expect
strong second and third quarters. Current indications point to a meaningful increase in drilling activity for the 2014
season. We believe the drilling fleet will increase by more than 20% during
2014 in this region, and this type of work requires support in continually
more challenging and remote areas. We continue to grow in this region, and
earlier this month we purchased a U.K.-based 250 Class, 2012-built PSV
and took delivery of our second Arctic-class vessel in Norway. We continue
to earn high returns on our Southeast Asia fleet. Day rates remained
steady, and our quarterly utilization increased again for the third
consecutive quarter, surpassing 90% for the first time since 2010. Longterm fundamentals continue to improve, and we expect this strength to
remain steady during 2014 as the Southeast Asia market continues to
increase offshore drilling activity.”
"During the fourth quarter, we took delivery of the fifth vessel in our 11-vessel new-build program. All five vessels
delivered in 2013 were delivered into the North Sea market. As previously mentioned, we took delivery of our sixth
new-build, an Arctic-class vessel in Norway, earlier this month. Our next vessel deliveries will be later in the first
quarter of 2014, when we will take delivery of the second of our 250 Class PSVs for the U.K. market and the first U.S.built 280 Class PSV in our new-build program. We will continue our second vessel stretch program, the 260 Class
stretch program in the U.S. Gulf of Mexico. We have
completed two vessels in that program, and those
vessels went to work immediately. We are currently
stretching two more vessels, and four others are
scheduled during 2014. Subsequent to the quarter,
we completed the purchase of a 2012-built 250 Class
DP2 PSV. This vessel is operating in the U.K. sector
of the North Sea market. In addition to the five
remaining vessels under construction and our
successful vessel stretch program, we continue to
search for well-appointed, well-constructed,
secondary market vessels at good prices, and
likewise to dispose of older, non-core vessels when
the market presents us with solid opportunities to do
so. You may recall that we sold three vessels in the
third quarter of 2013. We did not find any disposal
opportunities in the fourth quarter, but continue to
focus on one-off vessel acquisitions and disposals
that enhance the overall strength of our fleet.”
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
28
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Revenue for the Americas region was $55.1 million, an increase of $3.2
million or 6%. Average day rate increased 3% from the prior quarter and
utilization increased 6 percentage points. During the quarter Gulfmark had
49 fewer drydock days, which was the main driver for the utilization
increase. In the North Sea, fourth-quarter revenue was $49.9 million,
down $1.2 million, or 2%, from the third quarter. As is typical in the fourth
quarter, decrease in revenue was due principally to lower utilization, which
decreased from 92% in the third quarter to 90% the fourth quarter. The
average day rate for the North Sea was seasonally down 9% from the third
quarter. Revenue in Southeast Asia was $19.6 million, an increase of
approx. $0.8 million, or 4%, from the third-quarter amount. Increase in
revenue was due to a 3 percentage point increase in utilization and a 1%
increase in the average day rate. These increases reflect continued, steady market improvements in the region.
Gulfmark expects steady, incremental improvement over the coming quarters in Southeast Asia.
GulfMark Offshore’s Utilization & Day Rates
2012
2013
31-Dec
Utilization
North Sea
Southeast Asia
Americas
Avg. Day Rates
North Sea
Southeast Asia
Americas
No. Vessels
North Sea
Southeast Asia
Americas
30-Sep
30-Jun
31-Mar
31-Dec
30-Sep
30-Jun
2011
31-Mar
31-Dec
30-Sep
30-Jun
31-Mar
90.2%
91.0%
95.1%
92.0%
87.8%
89.6%
88.5%
79.7%
92.1%
89.9%
50.3%
88.1%
84.5%
70.4%
83.4%
93.1%
88.7%
82.7%
93.0%
80.5%
90.2%
87.8%
78.0%
74.0%
91.7%
86.0%
85.4%
96.5%
87.9%
81.5%
94.1%
83.0%
84.3%
87.1%
83.2%
70.5%
$21,462
$15,127
$22,681
$23,626
$15,043
$22,120
$20,974
$14,784
$21,527
$19,933
$13,734
$20,363
$19,848
$14,165
$18,339
$19,821
$14,844
$17,939
$21,231
$14,110
$16,761
$19,351
$14,336
$15,634
$20,923
$14,690
$14,867
$21,358
$15,063
$14,766
$20,014
$15,228
$14,217
$17,789
$15,248
$14,194
27.6
16.0
28.0
25.6
16.0
28.7
25.0
16.0
29.0
25.0
16.0
29.0
24.7
15.3
29.7
24.0
15.0
30.8
24.0
15.0
32.7
24.0
14.3
34.4
25.2
14.0
35.0
25.0
14.0
35.0
25.0
14.0
35.0
25.0
14.0
35.0
Capital expenditures during the fourth quarter totaled $40.1 million, which included $28.5 million for the construction of
new vessels. As of December 31, 2013, GulfMark had approx. $110.0 million of remaining capital commitments related
to the construction of seven vessels.
Sembcorp Marine achieved a 4Q 2013 net profit of $182 million, 9% higher
compared with $167 million earned the corresponding period in 2012. Fourth
quarter Group operating profit at $188 million was 27% higher compared with
$148 million in 4Q 2012. Turnover for 2013 grew 25% compared with 2012. The
higher turnover was attributable mainly to higher revenue recognition with more
rig building projects achieving initial progressive recognition in 4Q 2013 resulting
in a 23% increase in turnover from $1,378 million in 4Q 2012 to $16,93 million in 4Q 2013. For the rig building sector,
4Q 2013 at $1,197 million was 38% higher compared with $870 million in
2012. The increase was attributable to the initial recognition of the second
unit of Sembcorp’s repeat drillship design, one accommodation submersible
rig and two jack-up rigs. The ship conversion and offshore sector registered
a 5% decline in turnover from $330 million in 4Q 2012 to $314 million in 4Q
2013 attributable to timing of projects. Turnover from ship repair in 4Q 2013
was $163 million compared with $167 million in 2012 due mainly to the
timing in recognition of the repair and upgrade projects. Sembcorp has a
net order book of $12.3 billion with completion and deliveries stretching into
2019. This includes $4.2 billion in contract orders secured in 2013,
excluding repair and upgrade contracts.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
29
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Tidewater Inc. of New Orleans, reported third quarter net earnings for the period ended
December 31, 2013, of $12.6 million on revenues of $365.2 million. For the same quarter last
year, net earnings were $41.4 million on revenues of $311.9 million. Included in the current fiscal
quarter’s net earnings is a non-cash goodwill impairment charge of $56.3 million ($43.4 million
after tax) resulting from Tidewater’s annual goodwill impairment assessment performed during
the current quarter. As a result of the general reduction in the level of business in the Asia/Pacific
region, the entire amount of goodwill previously allocated to this region was impaired during the current quarter. For
the same quarter last year, net earnings were $29.9 million on revenues of $309.5 million. The immediately preceding
quarter ended September 30, 2013, had net earnings of $54.2 million on revenues of $367.9 million.
The price of crude oil experienced considerable volatility
since March 31, 2013, with a slight overall decline due to
production increases and elevated inventory levels.
Some analysts believe the global economy experienced
a modest overall recovery during calendar year 2013 and
is poised for incrementally higher growth levels in
calendar year 2014. This overall recovery has been led
by improvements in China’s economy over the latter half
of 2013, European markets moving out of recession and
growth in the U.S. economy. As a result of these
economic improvements a number of analysts expect
worldwide demand for crude in calendar year 2014 to
increase at a rate higher than in 2013 primarily driven by
China, the Middle East and Latin America with more
modest growth projected for the U.S.
Tidewater anticipates that its longer-term utilization and day rate trends for its vessels will be correlated with demand
for and the price of crude oil, which in early January 2014, was trading around $94/bbl for West Texas Intermediate
(WTI) crude and around $107/bbl for Intercontinental Exchange (ICE) Brent crude. The favorable environment crude
oil bodes well for increases in drilling and exploration activity, which would support increases in demand for
Tidewater’s vessels, both in the various global markets and the deepwater sectors of the U.S. Gulf of Mexico.
Although natural gas prices increased slightly during Tidewater’s fiscal year 2014, they have remained low from a
historical perspective primarily due to increased supply, which has resulted in increases in natural gas inventories. The
continuing rise in production of unconventional gas resources in North America (in part due to increases in onshore
shale production resulting from technological advancements in horizontal drilling and hydraulic fracturing) and the
commissioning of a number of new, large, LNG export
facilities around the world have contributed to an
oversupplied natural gas market. Oversupplied natural
gas inventories in the U.S. continue to exert downward
pricing pressures on natural gas prices in the U.S.
Prolonged periods of oversupply of natural gas (whether
from conventional or unconventional natural gas
production or gas produced as a byproduct of crude oil
production) will likely continue to suppress prices for
natural gas, although over the longer term, relatively low
natural gas prices may also lead to increased demand
for the resource. High onshore gas production along with
a prolonged downturn in natural gas prices can
negatively impact the offshore exploration and
development plans of E&P companies, which in turn,
would suppress demand for offshore support vessel services, primarily in the Americas segment - specifically
Tidewater’s U.S. operations where natural gas is a more prevalent, exploitable hydrocarbon resource. As of the
beginning of January 2014, natural gas was trading in the U.S. at approx. $4.20 per Mcf which is slightly higher than
$4.00 per Mcf in March 2013.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
30
Marcon International, Inc.
Supply Vessel Market Report – February 2014
According to IHS-Petrodata, there were approx. 465
newbuild offshore support vessels (deepwater platform
supply vessels, deepwater AHTS vessels and towingsupply vessels only) under construction as of December
2013, most of which are expected to be delivered to the
worldwide offshore vessel market within the next two
years. Also as of December 2013, the worldwide fleet of
these classes of vessels is estimated at approx. 3,000
vessels, of which Tidewater estimates more than 10%
are currently stacked. An increase in worldwide vessel
capacity would tend to have the effect of lowering
charter rates, particularly when there are lower levels of
exploration, field development and production activity.
The worldwide offshore marine vessel industry, however,
also has a large number of aged vessels, including
approx. 700 vessels, or 23%, of the worldwide offshore fleet, that are at least 25 years old and nearing or exceeding
original expectations of their estimated economic lives. These older vessels, approx. 40% of which Tidewater
estimates are already stacked, could potentially be removed from the market within the next few years if the cost of
extending the vessels’ lives is not economically justifiable. Although the future attrition rate of these aging vessels
cannot be determined with certainty, Tidewater believes that the retirement of a sizeable portion of these aged vessels
could mitigate the potential negative effects of new-build vessels on vessel utilization and vessel pricing. Additional
vessel demand could also be created by the addition of new drilling rigs and floating production units that are expected
to be delivered and become operational over the next few years, which should help minimize the possible negative
effects of the new-build offshore support vessels being added to the offshore support vessel fleet.
At December 31, 2013, Tidewater had 287 owned or chartered
vessels (excluding joint-venture vessels and vessels withdrawn
from service) in its fleet with an average age of 9.3 years.
Tidewater recorded $1,067.3 million in revenues during the first
nine months of fiscal 2014, an increase of $151.4 million over
the same period of fiscal 2013. The increase in revenues was
due to a 16% increase in Tidewater’s total worldwide fleet
average day rates attributable to the operation of newer and
more sophisticated vessels in a generally improving market
environment and $51.4 million in revenues contributed from
Troms Offshore, which was acquired in June of 2013.
Americas-based vessel revenues increased 30%, or $25.3 million during the quarter ended December 31, 2013, as
compared to the same period of the prior fiscal year, due primarily to revenues earned on deepwater vessels, which
increased $24.0 million, or 50%. The increase in deepwater revenues during the quarter ended December 31, 2013
compared to the same period in fiscal 2013 is the result of a 4% increase in average day rates and an increase in the
number of deepwater vessels operating in the Americas segment resulting from new deliveries and vessels which
were transferred from other segments because of the increased demand for deepwater drilling services in Brazil and
the U.S. GOM during the current fiscal year. At the beginning of fiscal 2014, Tidewater had 26 Americas-based
stacked vessels. During the first nine months of fiscal 2014, it stacked three additional vessels, returned one vessel to
service and sold 18 vessels from the previously stacked vessel fleet, resulting in a total of 10 stacked Americas-based
vessels as of December 31, 2013. Americas-based vessel revenues increased 8%, or $7.9 million, during the third
quarter of fiscal 2014 as compared to the second quarter of fiscal 2014, primarily due to higher revenues earned on
the deepwater vessels. Revenues from the deepwater vessels increased 17%, or $10.2 million, during the same
comparative period, primarily due to a 13 percentage point increase in utilization rates as well as an increased number
of deepwater vessels operating in the segment resulting from new deliveries and vessels which were transferred in
from other segments because of the increasing demand for deepwater drilling services in Brazil and the U.S. GOM.
The revenue increase from deepwater vessels was partially offset by a decrease in the other classes of vessels of
21%, or $1.9 million, during the same comparative period, primarily due to a 14 percentage point decrease in utilization
rates and a 7% decrease in average day rates.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
31
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Asia/Pacific-based vessel revenues decreased 14%, or $5.7 million, during the quarter ended December 31, 2013, as
compared to the prior year quarter, primarily due to lower revenues from both the towing-supply/supply and deepwater
vessel classes. Revenues from towing-supply/supply vessels decreased 21%, or $4.0 million, during the quarter ended
December 31, 2013 as compared to the same period of fiscal 2013. Revenues from deepwater vessels also decreased
8%, or $1.7 million, during the same period. Decreases among both vessel classes are attributable to vessels
transferring to other segments where market opportunities are currently more robust. The Asia/Pacific region continues
to be challenged with an excess capacity of vessels as a result of the significant number of vessels that have been
built in this region over the past 10 years, without a commensurate increase in working rig count within the region. At
the beginning of fiscal 2014, Tidewater had nine Asia/Pacific-based stacked vessels. During the first nine months of
fiscal 2014, Tidewater sold six vessels from the previously stacked vessel fleet resulting in a total of three stacked
Asia/Pacific-based vessels as of December 31, 2013. Asia/Pacific-based vessel revenues decreased 3%, or $1.1
million, during the third quarter of fiscal 2014 as compared to the second quarter of fiscal 2014, primarily due to a
decrease in revenues earned on the towing-supply/supply vessels. Towing-supply/supply vessel revenue decreased
8%, or $1.3 million, due to a fewer number of vessels operating in the segment.
Middle East/North Africa-based vessel revenues increased 22%, or $9.1 million, during the quarter period ended
December 31, 2013, as compared to the prior year quarter, primarily due to increased revenues from the towingsupply/supply and deepwater vessel classes. Towing-supply/supply vessel revenue increased 22% or $5.6 million,
during the quarter period ended December 31, 2013, as compared to the same period during fiscal 2013, due to an
11% increase in average day rates, a five percentage point increase in utilization rates during the quarter, as well as
an increase in the number of vessels operating in the segment. Deepwater vessel revenue increased 22% or $3.4
million, during the quarter period ended December 31, 2013, due to a 15% increase in average day rates as well as an
increase in the number of vessels operating in the segment during the comparative period. Increases in dayrates and
overall utilization in Middle East/North Africa segment is primarily the result of increased operations in the
Mediterranean Sea and offshore Saudi Arabia driven by an increase in the number of jack up rigs working in this
region. At the beginning of fiscal 2014, Tidewater had six Middle East/North Africa-based stacked vessels. During the
first nine months of fiscal 2014, Tidewater sold all six of these vessels and stacked one additional vessel, resulting in a
total of one stacked Middle East/North Africa-based vessel as of December 31, 2013. Middle East/North Africa-based
vessel revenues increased 13%, or $5.8 million, during the third quarter of fiscal 2014 as compared to the second
quarter of fiscal 2014, primarily due to higher revenues earned on the deepwater vessels and towing-supply/supply
vessels. Revenues earned on the deepwater vessels increased 20%, or $3.1 million, during the same period, due to a
7% increase in average day rates as well as an increase in the number of vessels operating in the segment. Revenues
earned on the towing-supply/supply vessels increased 9%, or $2.7 million, during the same period, due to an 8%
increase in average day rates as well as an increase in the number of vessels operating in the segment.
Sub-Saharan Africa/Europe-based vessel revenues increased 20%, or $27.0 million, during the quarter ended
December 31, 2013 as compared to the prior year quarter, primarily due to higher revenues earned on deepwater
vessels and towing-supply/supply vessels. Revenues from deepwater vessels increased 32%, or $20.4 million, during
the period, due to a 13 percentage point increase in utilization rates and 11% increase in average day rates as well as
the use of newer, higher spec equipment which has been moved into the area during current periods to meet customer
needs as older vessels were transferred to other segments or stacked. Revenues from deepwater vessels during the
quarter ended December 31, 2013 also include $17.6 million from vessels added by the June 2013 acquisition of
Troms Offshore. Revenues from the towing-supply/supply vessels increased 9%, or $5.0 million, during the same
period, due to 10% increase in average day rates and seven percentage point increase in utilization rates. At the
beginning of fiscal 2014, Tidewater had 10 Sub-Saharan Africa/Europe-based stacked vessels. During the first nine
months of fiscal 2014, Tidewater stacked three additional vessels, sold eight previously stacked vessels and returned
to service one vessel from the previously stacked vessel fleet, resulting in a total of four stacked Sub-Saharan
Africa/Europe-based vessels as of December 31, 2013. Sub-Saharan Africa/Europe-based vessel revenues decreased
9%, or $15.6 million, during the third quarter of fiscal 2014 as compared to the second quarter of fiscal 2014, primarily
due to a decrease in revenues earned on the deepwater vessels, which were partially offset by an increase in
revenues earned on the towing-supply/supply vessels and the other class of vessels. Revenue earned on the
deepwater vessels decreased 20%, or $21.7 million, during the same comparative period, due to a 5% decrease in
average day rates, a six percentage point decrease in utilization rates and the relocation of some deepwater vessels to
other segments. Revenue earned on the towing-supply/supply vessels increased 5%, or $3.0 million, during the same
comparative period, due to a seven percentage point increase in utilization rates.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
32
Marcon International, Inc.
Supply Vessel Market Report – February 2014
At December 31, 2013, Tidewater had six 7,100 BHP towing-supply/supply vessels under construction at an
international shipyard, for a total expected cost of $114.3 million. The vessels are expected to be delivered beginning
in November 2014 with final delivery of the last vessel in June 2015. As of December 31, 2013, Tidewater had
invested $55.0 million for these vessels. Tidewater is also committed to the construction of twenty-two PSVs, including
two 246’, four 261’, one 264’, ten 275’, three 310’ and two 300’ deepwater PSVs for a total estimated cost of $725.8
million. Two of the 300’ and one 264’ deepwater class
vessels are being constructed at a U.S. shipyard and a
different U.S. shipyard is constructing two 310’ deepwater
PSVs. Two different international shipyards are constructing
four and six 275’ deepwater PSVs, respectively. Three other
international shipyards are constructing two 246’, four 261’
and one 310’ deepwater PSVs, respectively. The two 246’
deepwater PSVs are expected to deliver during the June
2014 quarter, and the four 261’ deepwater PSVs have
expected delivery dates ranging from April 2015 to October
2015. The 264’ deepwater PSV is expected to deliver in July
2014. The ten 275’ deepwater PSVs are expected to be
delivered beginning in May 2014, with final delivery of the
tenth vessel in July 2015. The two 300’ deepwater PSVs are scheduled for delivery in September 2015 and February
2016. The two 310’ deepwater PSVs constructed at U.S. shipyards are scheduled for delivery in November 2015 and
February 2016. The 310’ deepwater PSV constructed at an international shipyard was delivered in January 2014. As of
December 31, 2013, $175.8 million was invested in these 22 vessels.
During the first nine months of fiscal 2014, Tidewater disposed of 43 vessels, including 35 towing supply vessels, three
deepwater vessels and five other vessels. Six of the 43 vessels were disposed from the Asia/Pacific fleet, 20 were
from the Americas fleet, eight from the Middle East/North Africa fleet and nine from the Sub-Saharan Africa/Europe
fleet. During the same period 2013, Tidewater disposed of 25 vessels, including 19 towing supply vessels and six
others. During the first nine months of fiscal 2014, Tidewater took delivery of two waterjet crewboats, two deepwater
PSVs and two towing supply/ supply PSVs, acquired two deepwater PSVs and one deepwater AHTS from third
parties, and acquired a fleet comprised of four operating vessels and assumed two vessel construction contracts as a
result of the acquisition of Troms Offshore Supply AS. The two 303’ deepwater PSVs were constructed at a U.S.
shipyard for a total aggregate cost of $122.9 million. The two 220’ towing-supply/supply PSVs were constructed at an
international shipyard for a total cost of $51.0 million. Tidewater acquired two 290’ deepwater PSVs for a total cost of
$93.8 million and a 247’ deepwater AHTS for $28.7 million from third parties, and also acquired a fleet of four
deepwater PSVs, ranging from 280’ to 285’, as a result of the Troms Offshore Supply AS acquisition. In January 2014,
the second Troms Offshore vessel that was under construction at the time of the closing of the acquisition was
completed (a 310’, deepwater PSV).
Quarterly Utilization and Average Day Rates for Tidewater Inc.
2013
31-Dec
30-Sep
Americas Fleet
Asia Pacific Fleet
Mid-East / No. Africa Fleet
Sub-Sahara Africa / Europe
New (Post-2000)
60.90%
70.60%
84.80%
73.80%
85.50%
49.50%
73.00%
86.10%
66.80%
85.70%
Americas Fleet
Asia Pacific Fleet
Mid-East / No. Africa Fleet
Sub-Sahara Africa / Europe
New (Post-2000)
$17,247
$12,687
$13,375
$15,764
$15,144
$15,520
$12,430
$12,440
$15,737
$14,484
Americas Fleet
Asia Pacific Fleet
Mid-East / No. Africa Fleet
Sub-Sahara Africa / Europe
New (Post-2000)
31
19
30
56
104
44
20
29
59
103
2012
30-Jun
31-Mar
31-Dec
30-Sep
30-Jun
Towing-Supply Utilization (includes stacked & in drydock)
43.30%
48.00%
48.00%
48.20%
53.40%
64.50%
54.50%
52.40%
52.20%
54.90%
72.10%
74.70%
80.10%
71.20%
77.20%
67.60%
73.30%
66.90%
67.80%
60.30%
81.70%
84.80%
86.30%
87.60%
89.30%
Towing-Supply Average Day Rates
$15,161
$14,330
$13,721
$14,103
$14,135
$13,022
$13,976
$12,592
$12,663
$14,229
$12,567
$12,689
$12,020
$9,857
$9,812
$15,386
$14,996
$14,318
$15,721
$13,572
$14,595
$14,490
$13,969
$14,456
$13,663
Towing-Supply Average Vessel Count (includes stacked)
46
48
48
50
50
24
27
32
33
36
30
30
30
29
29
58
58
62
65
66
103
103
102
101
101
2011
31-Mar
31-Dec
30-Sep
30-Jun
31-Mar
53.10%
43.10%
73.30%
55.60%
54.20%
43.80%
59.20%
58.10%
42.90%
36.30%
49.70%
55.80%
43.30%
42.50%
57.60%
57.90%
48.30%
43.50%
66.60%
60.00%
$13,704
$13,751
$8,992
$13,479
$13,812
$12,836
$8,604
$13,004
$14,786
$11,974
$8,513
$12,665
$14,031
$12,519
$7,738
$12,812
$14,411
$12,688
$7,693
$11,848
57
38
31
74
52
37
29
72
57
40
30
76
65
38
33
79
70
42
30
82
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
33
Marcon International, Inc.
Supply Vessel Market Report – February 2014
VARD (formerly STV OSV) for 4Q2013 recorded a 22.5% on-year increase in revenue
to NOK 3.1 billion, up from NOK 2.5 billion in 4Q2012, on the back of high yard utilization
and good project progress. While showing an improvement from the previous two
quarters, 4Q2013 EBITDA decreased 45% to NOK 158 million compared to NOK 287
million in 4Q2012, as further delays and cost overruns at the Niterói yard in Brazil
continue to weigh on overall margins. EBITDA margin (representing EBITDA to total
operating revenues) was 5.1% for 4Q2013. In 4Q2013, three newbuildings were
contracted and total new order intake amounted to NOK 2.2 billion. Following 22
deliveries during the year, Vard’s order book stood at 41 vessels as at 31 December 2013, of which 26 are of VARD’s
own design. Since then, three more vessels were contracted in the first six weeks of 2014 for a combined order value
exceeding NOK 2 billion, further increasing VARD’s order book visibility.
Vard’s operations in Norway and Romania remain stable. In Norway, several complex projects with particularly tight
delivery schedules were successfully completed. In Tulcea, Romania, an investment program to upgrade the facilities
with new blasting and painting halls, a new pipe fabrication center, a new steel cutting center and two 120 ton cranes
is nearing completion and beginning to show the intended productivity enhancements. At VARD’s Vietnam yard, the
completion of infrastructure upgrades including the extension of the floating dock enable the yard to take on larger
projects. Operational performance in Vietnam is strong, and yard utilization is improving on the back of the latest PSV
contract secured in February 2014.
The overload situation at Vard Niterói in Brazil continues to be the main reason for Vard’s weaker financial
performance. However, workload at the yard has peaked, and staff turnover has eased year-on-year. Of the four
delayed projects at the yard, one vessel is undergoing sea trials prior to planned delivery in March, while two more are
in advanced stages of outfitting. Construction of VARD’s second yard in Brazil, Vard Promar, is largely completed and
operations are being ramped up in order to reach the necessary production volume. Construction of two LPG carriers
is progressing at the yard, ahead of the last major yard equipment being installed by mid-year.
During 2013, VARD successfully delivered 22 complex
projects across its yards, of which 19 came from its
European yards, two from Vietnam and one from Brazil. The
Norwegian yards accounted for all five vessels delivered in
4Q2013. Vard has a positive outlook for new order wins in
2014. Exploration and production (“E&P”) spending growth
is expected to continue, and demand for larger and more
complex offshore support vessels is driven by an expanding
rig fleet, in addition to wells growing deeper and fields
moving farther from shore. Of VARD’s core products, in
particular the outlook for subsea support and construction
vessels remains robust. The company believes there are
also opportunities in the high-end AHTS segment,
benefiting from higher rig count, demand from Arctic
exploration and limited fleet growth in recent years.
Roy Reite, Executive Director & CEO of VARD,
commented, “Overall, we have done well despite a very
challenging operating environment in parts of the Group,
and have laid the foundations for future growth and
profitability. We have significantly strengthened our market
position, reinforced relationships with key industry players,
and secured a quality order book based on our solid track
record of project execution. We look forward to working
with our clients – both new and long-standing – in
implementing these exciting projects.”
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
34
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Grupo TMM, S.A.B. reported financial results for fourth quarter and full year of 2013.
José F. Serrano, chairman and chief executive officer of Grupo TMM, said, “Maritime
performed solidly in the fourth quarter and full year of 2013, recording improved
revenue, operating profit and EBITDA compared to the same periods last year.
Additionally, our Offshore fleet reached 94.4 percent utilization, maintaining utilization of
over 90 percent thus far in 2014. Moreover, our Chemical Tanker fleet increased its
transportation volume 11.3 percent throughout 2013, and Harbor Tugs improved vessel call income by 22.8 percent.”
Serrano concluded, “Our Shipyard segment improved its utilization throughout the year, reaching 90 percent by year
end, improving this segment’s income in 2013. We will continue to work on alternatives to improve the Company’s
balance sheet, while targeting new business opportunities at our Maritime and Port divisions.”
Compared to the same periods of last year, consolidated
revenue in the 2013 fourth quarter and full year increased
11.5% and 9.5%, respectively, mainly due to improvements
at the Maritime division. Maritime revenue in the 2013
fourth quarter increased 21.1% compared to the same
period last year, mainly due to the income improvements in
all business segments, except at Chemical Tankers, which
reported 15.5% lower revenue due to reduced volumes. In
the 2013 full year, Maritime revenue improved 12.2% due
mainly to: a 10.7% revenue increase at Offshore due to
higher utilization; a 12.6% revenue improvement at
Chemical Tankers as a result of operating one additional
leased vessel during the first quarter and half of the second
quarter of 2013; 20.3% revenue growth at Harbor Tugs due
to an improved revenue mix; and a 14.0% revenue
increase at Product Tankers due to a higher utilization of the vessels. Additionally, the Shipyard business reported
4.9% higher revenue in 2013 compared to 2012, as revenue improved sequentially throughout 2013, from $6.9 million
pesos in the first quarter, to $9.8 million pesos in the second quarter, $18.4 million pesos in the third quarter and $17.8
million pesos in the fourth quarter.
TMM is the major shipping company that provides transport services for chemicals,
molasses and vegetable oils between Mexican and US ports in the Gulf of Mexico. It
operates a modern fleet of two chemical tankers equipped with stainless steel and
Marine Line coated tanks and heating and cleaning systems which permit the
suitable and safe handling of every product TMM transports. Since 1992 Grupo TMM
has provided transportation of clean
petroleum products for “Pemex Refinación”
in cabotage trades and for third parties in
international trades. Its operations are
carried also in the international market out in compliance with the highest
international standards in order to ensure a safe and reliable operation to its
customers. Grupo TMM currently operates a fleet of five product and two
chemical tankers.
Since 1992 the Maritime Transportation Division has supported the oil offshore
industry through the operation of one of the largest fleets of specialized boats in
Mexico crewed by highly specialized professionals. Fleet 26 offshore support vessels.
Since 1997 Grupo TMM has offered a towing service at the port of Manzanillo,
Colima, Mexico’s busiest commercial port. Grupo TMM has seven tugboats.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
35
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Royal Boskalis Westminster N.V. (Boskalis) achieved revenue of EUR
3.5 billion in 2013 (2012: EUR 3.1 billion). Net profit rose sharply to EUR
366 million (2012: EUR 249 million), partly due to a number of
extraordinary items amounting to EUR 97 million post tax. EBITDA also
reached a record high level of EUR 800 million (2012: EUR 567 million)
and EBIT was EUR 466 million (2012: EUR 336 million). The Dredging segment realized a higher result, with the result
for the year under review once again being influenced by substantial results from the financial settlement of projects
whose technical completion took place earlier. In addition there were substantial results from the sale of equipment
and the settlement of an equipment-related insurance claim. Utilization of the hopper fleet was strong at 44 weeks
(2012: 41weeks). The utilization rate for the cutter fleet on the other hand was low at 16 weeks (2012: 25 weeks). The
cutter “Ursa” was sold at the beginning of the year and the limited volume of cutter work in the market resulted in low
utilization levels for the rest of the fleet. In the fourth quarter an order was placed for the construction of a mega cutter.
The value of this replacement investment, which will be completed in 2017, is approx. EUR 170 million.
Offshore Energy reported an operating result of EUR 149.5 million. Even adjusted for the contribution from Dockwise,
the result in this segment rose significantly to EUR 94.0 million. In 2013 the anchor handling tug “Smit Komodo” was
modified and taken into service as a diving support vessel. In addition construction work was completed on the two N
class vessels, which were brought into service in early 2014 and immediately deployed on projects. The “Ndeavor”
was completed as a multifunctional rock-dumping, fallpipe and dredging
vessel and has been deployed on the Malampaya project in the
Philippines. The second N class vessel, the “Ndurance”, was finished as
a 5,000MT cable-laying ship and deployed into VSMC, the 50/50 joint
venture with VolkerWessels. The “Ndurance” was immediately deployed
on a cable-laying project in Indonesia and successfully installed two
cables in record time under challenging circumstances. Utilization of the
Dockwise fleet was 83% from the second quarter. As well as the
“Dockwise Vanguard” being taken into service in the year under review,
construction work commenced on the “White Marlin”. The keel was laid
in China on 23 May and this type I vessel is expected to be completed by
the end of 2014. Towage & Salvage had a good year with an increase in operating profit. Salvage had a busy first half
of the year followed by a somewhat quieter second half. Noteworthy projects, which were all completed successfully,
included the refloating of the “Kulluk” Arctic drilling rig in Alaska, the salvage operation involving the broken container
ship the “MOL Comfort” in the Arabian Sea, the removal of oil from a jack-up rig in Angola and from a cape size bulker
off the coast of South Africa and the wreck clearance of a capsized jack-up rig in Brazil.
The markets in which Boskalis operates are driven by growth in global trade, energy consumption and the world's
population, as well as by the effects of climate change. Recent research has confirmed that these trends will continue
in the longer term despite regional economic stagnation. In the short term
Boskalis is assisted by the growing demand for deep sea ports with the
ability to cater to the new generation of bulk carriers and container ships,
as well as by the increasing shift towards (complex) offshore locations for
oil and gas extraction. Boskalis expects market conditions for its Dredging
and Towage activities to be stable in the next three years, with scope for
growth mainly seen for Offshore Energy in the area of Transport, Logistics
& Installation. There are clear opportunities here for Boskalis with its
combination of assets and expertise following the acquisitions of SMIT and
Dockwise. Boskalis can further strengthen its position in this segment
through targeted investments in ships or through acquisitions, for example the recent takeover of Fairmount with its
leading position in the global market for oceangoing tugs.
Current information suggests that no major changes are to be expected in the market environment compared to 2013.
At Dredging and Offshore Energy Boskalis once again expects healthy fleet utilization levels in the first half of the year.
After a strong 2013 for Dredging the absence of comparable extraordinary effects will result in a lower operating
margin in 2014. The outlook for Offshore Energy, Inland Infra and Towage & Salvage is stable compared to 2013.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
36
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Swire Pacific reported consolidated profit attributable to shareholders for
2013 was HK$ 13,291 million, HK$ 4,119 million lower than for 2012. World
economic conditions showed some improvement on those of 2012. In the
USA, the recovery continued and the economy benefited from historically
low interest rates. Economic conditions in Europe as a whole were weak, but started to recover towards the end of the
year. The Asian region performed quite well. In Hong Kong, economic growth was relatively robust, but measures
introduced by the government adversely affected demand for luxury residential properties. Economic growth in
Mainland China remained steady, which benefited consumer confidence and expenditure. The price of oil remained
high. This continued to affect Swire’s airlines but also resulted in continued exploration and production by oil
companies, which benefited Swire’s Marine Services Division.
Swire Pacific Offshore (SPO) reported an attributable profit of HK$ 1,243 million in
2013, an increase of 36% compared to 2012. Excluding nonrecurring profits of HK$ 23
million in 2012 and HK$ 88 million in 2013, which include profits on disposal of four
vessels in 2012 and four vessels in 2013, attributable profit increased by 30%. This
reflects the contribution from new vessels delivered during the year and a full year’s
contribution from vessels delivered in 2012. Charter hire revenue increased by 36% to
HK$ 5,257 million in 2013. Of the increase, HK$ 1,521 million was contributed by new
vessels delivered in 2012 and 2013. Fleet utilisation
reduced by 0.7 percentage points to 88.9%. Average
charter hire rates rose by 32% to US$ 26,100 per day. Utilisation rates of SPO’s core
fleet of AHTSs and PSVs decreased by 0.9 percentage points to 89.3%. Utilization of
SPO’s fleet of CSVs increased by 9.0 percentage points to 85.1%, reflecting high
utilization of WIVs and seismic survey vessels. Charter hire rates for SPO’s core fleet
increased by 7% to US$ 19,800 per day, due to new vessel deliveries and better
demand for offshore services. Charter hire rates for SPO’s fleet of CSVs increased by
80% to US$ 92,000 per day. The significant improvement in day rates was mainly due
to the higher rates achieved by the WIVs, which commenced operations in 2013.
Four older vessels were sold in 2013 and SPO took delivery of six new vessels during the year. There were 82 vessels
in the fleet at 31st December 2013 and there are another 20 new vessels on order or under construction. Three large
anchor handling tug supply vessels were delivered in 2013 and have been deployed on charters in South East Asian
waters. A large PSV was also delivered during the year and commenced operations in the first quarter of 2013 in West
Africa, before being deployed to China. The two CSVs delivered during the year were an accommodation barge and
an IMR vessel. The accommodation barge was delivered at the beginning of the year and, after a crane installation,
commenced work in South East Asia. The IMR vessel was delivered in the third quarter of 2013, and mobilized to the
Caspian Sea. At 31st December 2013, equipment was being installed on the vessel before commencement of its
charter. Total capital expenditure on new vessels and other fixed assets in 2013 was
HK$ 4,359 million, compared to HK$ 5,583 million in 2012. During 2013, SPO did not
make any further commitments to purchase new vessels. Three large PSVs are
expected to be delivered in each of 2014 and 2015, with a further two expected to be
delivered in 2016. The delivery dates of three of these vessels have been delayed.
Two large AHTS vessels ordered by SPO, which were due to be delivered in 2013, are
now expected to be delivered in 2014. In total, six large AHTS vessels will be delivered
in 2014. Six smaller PSVs will be delivered during 2014 and 2015. The change in
delivery dates of SPO’s vessels under construction is largely due to delays
experienced at contracted shipyards. At 31st December 2013, SPO had total capital expenditure commitments of HK$
7,198 million (31st Dec 2012: HK$ 10,301 million). These commitments reflect SPO’s strategy of focusing a large part
of its new building program on vessels capable of operating in deeper waters, where demand is expected to be
greatest, and of improving the balance between PSV and AHTS vessels in its fleet. Prospects for the offshore
exploration and production industry are positive. Exploration activity is expected to increase as a result of the high
price of crude oil. However, the rising cost of production may affect demand for offshore services, and a shortage of
qualified seafarers is a problem for the industry. SPO has established presences in Latin America, Canada and East
Africa in order to explore opportunities in these regions. In an effort to address the shortage of qualified seafarers,
SPO operates a marine training center and a dedicated crew training department.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
37
Marcon International, Inc.
Supply Vessel Market Report – February 2014
Featured Listings For Sale Direct From Owners
File: SU26961 Supply Boat - 268.7' loa x 59.1' beam x 23.3' depth. Built in 1991 by
Brattvaag Ships; Norway. U.K. flag. GRT: 2,637. Class: DNV + 1A1, SF, EO.
Deadweight: 3,075mt. Deck Cargo: 2,500T on 57m x 15.5m clear deck. FO: 1,152m3.
FW: 737m3. DW: 952m3. Dry Bulk: 14,000ft/8 tanks. Liq. Mud: 3,778BBL. Calcium
Chloride / Brine: 1,735BBL. Crane: 1 - 5T @ 8m. Winch: 2 - 15T tuggers, 2 - 10T
capstans. Main Engines: 2 x Bergen BRM6 total 6,600BHP. CP prop(s). 2 - 800BHP
stern Thrusters. Bowthruster 2 - 1,000HP. Speed about 8-12kn on 8-16m3/day.
Genset(s): 2 - 2,100kVA / Shaft. Quarters: 12-1, 3-2, 1-5. UT 705 PSV. Working
vessel. North Sea. Prompt.
File: SU26960 Supply Boat - 268.6' loa x 59.0' beam x 23.3' depth x 16.33' draft. Built in 1990
by Brattvaag, Norway. U.K. flag. GRT: 2,637. Class: DNV +1 A1 -SF-EO-2DK LF Solas 1974.
DYNPOS-AUT. Deadweight: 4,000T. Deck Cargo: 2,500T on 54.5m x 15.5m clear deck. FO:
921m3. FW: 736m3. DW: 950m3. Dry Bulk: 14,000ft3 in 8 tanks. Liq. Mud: 3,762BBL. Calcium
Chloride / Brine: 1,736BBL. Crane: 1 - 5T/8m. Winch: 2 - 9.5T tuggers & 2-10T capstans. Main
Engines: 2 x Bergen BRM6 total 6,600BHP. 2 - Ulstein CP prop(s). 2 - 1000HP Stern
thrusters. Bowthruster 2 - 1,000HP. Dynamic Positioning. Speed about 12-14.5kn on 10-15T.
Genset(s): 2 - 300kW / CAT, 2 - 1,680kW / shaft, 1 - 25kW / emerg. Quarters: 12-1, 3-2, 1-4.
UT705 Pipe carrier, DP1. Working North Sea. Europe Northern. Q3 2014.
File: SU26458 Supply Boat - 264.7' loa x 59.0' beam x 23.2' depth. Built in 1983 by Ulstein
Hatlo A/S. GRT: 2,597. Class: DNV + A1, SF, EO, NMD Certificate for Standby & Rescue
Operations. Deadweight: 3,370. Deck Cargo: 2400T on 58m x 15.4m clear deck. FO: 1168m3.
FW: 772m3. DW: 1109m3. Dry Bulk: 12,000ft3. Liq. Mud: 3,150BBL. Calcium Chloride / Brine:
3,150BBL. Crane: 1 - 1.5T @ 8.5m. Main Engines: 2 x Nohab SF112VS-F total 6,120BHP. CP
prop(s). 2- 800BHP stern thrusters. Bowthruster 2 - 800BHP. Speed about 10-14.6kn on 818Tpd. Quarters: 13-1, 3-2, 1-4. UT705. Working North Sea. North Sea. August 2014.
File: SU26257 Supply Boat - AHTS - 262.4' loa x 59.0' beam x 26.2' depth x 21.60' draft.
Built in 2003 by Soviknes Verft; Norway. U.K. flag. GRT: 3,140. Class: ABS + A1 Tow
Vessel, Offshore Support Vessel, AMS, ACCU, DPS-2. SS just done. Deadweight: 2,750mt.
Deck Cargo: 1,500T on 570m2 deck. FO: 1,150m3. FW: 500m3. DW: 1,669m3. Dry Bulk:
10,000ft3. Liq. Mud: 2,765BBL. Calcium Chloride / Brine: 4,620BBL. Crane: 1-5T@10m,
2.5T@16m, 1.5T@13.5m, .75T@22m. Winch: 2 - 20T tuggers; 625T brake. Line Pull: 500T.
Wire Capacity: 3,000m x 83mm / 8,000m x 83mm. Main Engines: 4 x Bergen BRM6 total
16,800BHP. CP prop(s). Kort nozzles. 1,180HP stern thruster. Bowthruster 2 - 1,180HP.
Dynamic Positioning. Bollard Pull: 179T. Quarters: 32 (14-1, 5-2, 2-4). UT 722L. Karm forks and tow pins. North Sea.
File: SU24693 Supply Boat - AHTS - 246.0' loa x 58.0' beam x 25.5' depth x 21.00'
draft. Built in 2013 by Jiangsu Zhenjiang Shipyard. China PR flag. GRT: 2,831. Class:
CCS+CSA+CSM Tug/Offshore Supply Ship/FiFi 1, Ice Class B, Waterspraying,
PSPC(B),AH,AUT-0,DP-2. Deadweight: 2,598mt. Main Engines: 2 x MAN 9L32/44CR
total 13,700BHP. Bowthruster 2. Dynamic Positioning. Bollard Pull: 163T. Genset(s):
2-2,000kW; 2- 450kW 400vAC. Firefighting: FiFi 1. DP2 AHTS. Far East. June 2014.
File: SU23141 Supply Boat - 231.0' loa x 40.0' beam x 14.0' depth. Built in 1984 by Moss
Point Marine; MS. Rebuilt: 1998. U.S. flag. GRT: 911. Class: ABS + A1 (E) + AMS all
overdue March 2011. Deadweight: 1,200T. Deck Cargo: 700LT on FO: 129,000g. FW:
10,250g. DW: 66,664g. Dry Bulk: 5,000ft3. Liq. Mud: 3,700BBL. Main Engines: 2 x CAT
3512TA total 2,110BHP. 2 - Azimuth Ulstein 1350-H prop(s). Bowthruster 650HP. Speed
about 12kn on 10MT/d. Genset(s): 2-99kW / GM8V71 440v 60Hz; 1-85kW / Main Engine;
1-65kW 480vAC 60Hz. Firefighting: Yes. Quarters: 15 berths. AirCon. Some sale
restrictions apply. DP-1 equivalent, but not classed. Stretched in late 1990s and repowered. Laid up. For sale out of competition strictly “as is, where is”. U.S. Gulf Coast.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
38
Marcon International, Inc.
Supply Vessel Market Report – February 2014
File: SU23000 Supply Boat - 230.0' loa x 40.0' beam x 14.0' depth x 12.00' draft. Built 1983
by Moss Point Marine; Escatawpa, MS. U.S. flag. GRT: 911. Class: ABS + A1 +
AMS/USCG/SOLAS (all certs overdue March 31, 2011). Deadweight: 1,215T. Light Disp.:
827T. Deck Cargo: 700LT on 168' x 29' deck. FO: 129,000g. FW: 10,250g. DW: 66,664g.
Dry Bulk: 6,000ft3. Liq. Mud: 3,760BBL. Main Engines: 2 x CAT 3512B total 3,000BHP. 2 Azimuth Ulstein 1350-H prop(s). Bowthruster 650HP. Dynamic Positioning. Speed about
12kn on 10MT/day. Genset(s): 2 - 99kW / GM 8V71 440v 60Hz; 1 - 850kW / Main Eng.
480vAC 60Hz. Stretched to 230', re-powered and DP installed by former Owner in late
1990s. DP1 Equivalent. Laid up. Sale out of competition “as is, where is”. U.S. Gulf Coast.
File: SU22552 Supply Boat - AHTS - 225.0' loa x 52.0' beam x 24.0' depth x 13.60' light
draft x 20.90' loaded draft. Built in 1983 by Halter Marine; New Orleans, LA. U.S. flag. GRT:
455. Class: ABS + A1 Towing + AMS, Ice Class C. Docking & Special Survey due 04/2013.
USCG COI exp. May 2013. Deadweight: 1,825lt. Deck Cargo: 735LT on 95' x 40' clear deck.
FO: 261,658g. FW: 71,638g. DW: 213,026g. Dry Bulk: 3,960ft3 in 2 tanks. Liq. Mud:
1,440BBL. Winch: Smatco 140-EAW 1000 waterfall double drum. Line Pull: 492LT. Stern
Roller. Main Engines: 4 x EMD 16-645E7 total 12,280BHP. 2 - 142" x 144" prop(s) on
Stainless steel shaft(s). Kort nozzle(s). Diesel elect 4-3,100kW 440vAC 60Hz gens
connected to 4 elect motors. Bowthruster 2 -750 HP. Dynamic Positioning. Bollard Pull:
136MT. Speed about 10-15kn on 259-602gph. Pump(s): DW: 600gpm, FO: 880gpm, FW:
200gpm, Bulk: 17gpm, Liq. Mud: 1,000gpm. Genset(s): 1 - 150kW 450vAC. Firefighting: 2 - 227m3/h monitors. Quarters: 25
berths in 11 cabins. Air Conditioned. Galley. 750HP stern thruster. Range abt. 10,100nm at 10kn. Two pennant reels
capacity 8,600' 2.5" wire each. Two 23.6LT tuggers. Two Smatco capstans. Smith Berger electro-hydraulic tow pins. Triplex
700MT shark jaws. Two chain lockers capacity 5,000' 3.25" chain. DP-1 positioning. Full details including drawings,
photographs, drawings and class status from this office. Non-compete clause for oilfield service waived. U.S. Gulf Coast.
File: SU22246 Supply Boat - AHTS - 222.0' loa x 46.0' beam x 20.0' depth x 17.50'
draft. Built in 1985 by Quality Shipyard; Houma, LA. GRT: 490. Class: ABS Ice
Class 1A. Deadweight: 1,600T. Deck Cargo: 850T on 110' x 36' clear deck. FO:
217,500g. FW: 35,250g. DW: 262,230g. Dry Bulk: 8,000ft. Liq. Mud: 1,901BBL.
Crane: Fass 1 3.22/5.5. Winch: Double drum. Fritz Culver hyd. Line Pull: 293T.
Stern Roller. Main Engines: 4 x Stork Werkspoor total 11,200BHP. Berg CP 130"
prop(s) on 15.5" ABS shaft(s). Kort nozzle(s). 2 - Becker rudders. Bowthruster
725HP. Bollard Pull: 150T. Speed about 17kn max. Genset(s): 2 - 200kW /
GM8V92, 2 - 50kW / GM4-71. Firefighting: 2 - 18,000gpm. Skum monitors. Capacity
for 3,658m 76mm rig chain. Tanker escort vessel. Africa West Coast.
File: SU22085 Supply Boat - 220.9' loa x 55.2' beam x 23.4' depth x 19.96' loaded draft.
Built in 1983 by Hasund Mek; Norway. Belize flag. GRT: 1,919. Class: ABS, A1, AMS,
Unrestricted. SS due 10/2013. Deadweight: 2,959mt. Deck Cargo: 1,550T on FO: 818.6T.
FW: 964T. Liq. Mud: 1,919BBL. Calcium Chloride / Brine: 386T. Main Engines: 4 x
Wartsila 8R22 total 6,960BHP. 2 - CP Azimuth prop(s). Bowthruster 2 -900HP. Dynamic
Positioning. Speed about 13kn on 10MTpd. Genset(s): 4 - 1,220kW 400vAC 60Hz, 1 164kW. Quarters: 11 crew. ME 202 design. Mid East.
File: SU22084 Supply Boat - 220.0' loa x 46.0' beam x 16.0' depth x 9.00' light
draft x 13.68' loaded draft. Built in 1999 by Swiftships Shipbdrs; Morgan City,
LA. U.S. flag. GRT: 1,254. ABS Loadline. USCG SubCh "I" & "L". No SOLAS.
Deadweight: 1,651mt. Deck Cargo: 1,046MT on 138' x 38' clear deck. FO:
333m3. FW: 363m3. Dry Bulk: 230m3. Liq. Mud: 3,050BBL. Calcium Chloride /
Brine: 3,050BBL. Main Engines: 2 x EMD 16-645E2 total 3,900BHP. 2 - FP 4blade prop(s). 755BHP Stern Thruster. Bowthruster 1 -525BHP. Genset(s): 2 Cummins NT 855. Quarters: 22 in 10 rooms. AirCon. U.S. Gulf Coast.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
39
Marcon International, Inc.
Supply Vessel Market Report – February 2014
File: SU22084 / SU22076 Supply Boat (Two Available) - 220.0' loa x 46.0'
beam x 16.0' depth x 9.00' light x 13.68' loaded draft. Built 2000 by Swiftships
Shipbldrs; Morgan City, LA. U.S. flag. GRT: 1,255. ABS Loadline. USCG SubCh
"I" & "L". No SOLAS. Deadweight: 1,651mt. Deck Cargo: 1,046MT on 138' x 38'
clear deck. FO: 428m3. FW: 428m3. Dry Bulk: 230m3. Liq. Mud: 3,050BBL.
Calcium Chloride / Brine: 3,050BBL. Main Engines: 2 x Cummins QSK60-M
total 4,666BHP. FP 4-blade prop(s). Stern thruster 386kW. Bowthruster 1 555kW. Speed about 10-12kn. Genset(s): 2 - 125kW / Cummins NT 855
480vAC 60Hz 3ph. Quarters: 22 in 10 staterooms. U.S. Gulf Coast.
File: SU22053 Supply Boat - 221.0' loa x 40.0' beam x 14.0' depth x 12.00' draft. Built 1984
by Moss Point Marine; Escatawpa, MS. Rebuilt: 1998. U.S. flag. GRT: 854. Class: ABS + A1
+ AMS overdue Nov 2009. Deck Cargo: 700LT on 158' x 29' deck. FO: 82,800g. FW:
90,000g. Dry Bulk: 6,400ft3. Liq. Mud: 2,744BBL. Main Engines: 2 x CAT 3512 total
3,000BHP. 2 - Aquamaster 1401 prop(s). Z-drive/CP bowthruster. Bowthruster 750HP.
Dynamic Positioning. Speed about 13kn. Genset(s): 2 - 99kW / GM8V-71; 1 - 85kW / Main
Engine; 1-65kW 480vAC 60Hz. 1 - 1,000gpm monitor. Quarters: 15. Air Conditioned. Galley.
DP-1 equivalent supply boat. Laid up. Stretched in late 1990s, and re-powered. Kongsberg
Simrad SDPO/system. For sale only out of competition “as is, where is”. U.S. Gulf Coast.
File: SU22050 Supply Boat - 220.0' loa x 46.0' beam x 16.0' depth x 9.00' light draft x 13.80' loaded
draft. Built in 1997 by Swiftships Shipbldrs; Morgan City, LA. U.S. flag. GRT: 454. Class: ABS
Loadline. USCG "L" & "I", No SOLAS. Deadweight: 1,651mt. Deck Cargo: 1,046MT on 144'x38' clear
deck. FO: 120,000g. FW: 27,850g. DW: 123,000g. Dry Bulk: 8,135ft3. Liq. Mud: 3,050BBL. Calcium
Chloride / Brine: 3,050BBL. Main Engines: 2 x EMD 16-645E2 total 3,900BHP. FP prop(s). 525BHP
Stern thruster. Bowthruster 530HP. Dynamic Positioning. Speed about 10-12kn on 120-215gph.
Genset(s): 2 - 250kW / Cummins NT-855. Firefighting: 1 - FiFi Monitor. Quarters: 22 (in 10 cabins). Air
Conditioned. Galley. Dynamic positioning - ASR-400 Nautronix system. ABS classed DP-O. Trimble
NT-3000. Upgraded with enhanced mud pumps & stern thruster. U.S. Gulf Coast.
File: SU22044 Supply Boat - 218.0' loa x 44.0' beam x 16.0' depth x 6.60' light draft x
13.40' loaded draft. Built in 1991 by Halter Marine; Lockport, LA. U.S. flag. GRT: 498. ABS
+ A1 + AMS (E) Full Oceans. USCG Sub Ch. "I". Deadweight: 1,491T. Deck Cargo: 868T
on 141 x 33' clear deck. FO: 47,735g. FW: 20,738g. Dry Bulk: 8,000ft3 in 6 tanks. Liq.
Mud: 2,248BBL. Main Engines: 2 x EMD 16-645CE6 total 3,900BHP. Bowthruster 680HP.
Dynamic Positioning. Speed about 9-15kn on 87-187gph. Genset(s): 2 - 360kW /
Cummins, 2 - 90kW / Cummins. 2 - Skum MK250, 3,000gpm monitors. Quarters: 16 in 9
cabins. AirCon. Joystick. DP. Laid-up U.S. Gulf Coast.
File: SU22042 Supply Boat - 220.0' loa x 40.0' beam x 14.0' depth x 7.00' light x 11.50' loaded draft. Built in 1984 by Moss
Point Marine. U.S. flag. GRT: 385. ABS Loadline overdue 31 Oct '08. Deadweight: 1,096lt.
Deck Cargo: 800LT on 150' x 31' deck. FO: 50,500g. FW: 11,923g. DW: 78,276g. Dry
Bulk: 6,200ft3. Liq. Mud: 2,496BBL. Main Engines: 2 x EMD 16-645E2 total 3,900BHP. 4blade prop(s). Kort nozzle(s). Bowthruster 600HP. Speed abt. 10-12.5kn. Pump(s): DW:
500gpm; FO: 500gpm; FW: 500gpm; Liq Mud: 800gpm. Genset(s): 2 - 125kW / GM8V71.
Quarters: 23 bunks in 8 cabins. AirCon. Sale “as is, where is” out of competition. Vessel
laid up. Some steel work required. P-tanks not operational. U.S. Gulf Coast.
File: SU22037 Supply Boat - 220.0' loa x 52.5' beam x 23.0' depth x 19.35' draft. Built in
1996 by Brattvaag; Norway. Panama flag. GRT: 1,969. Class: DNV + 1A1, SF, E0,
DYNPOS-AUT (DP2), DK(+), HL (2.5). Deadweight: 3,115T. Deck Cargo: 1,550T on 46m x
13.5m clear deck. FO: 860m3. FW: 823m3. DW: 500m3. Dry Bulk: 9,000ft3 in 4 tanks. Liq.
Mud: 4,894BBLS. Calcium Chloride / Brine: 4,894BBLS. Crane: 1 - 3T @ 10m. Winch: 2 10T Tuggers; 2 - 8T Capstans. Main Engines: 2 x Bergen KRMB9 total 5,450BHP. 2 - CP
prop(s). 1 - 800BHP stern thruster. Bowthruster 2 - 700BHP. Dynamic Positioning. Speed
about 10-14kn on 6.7-19m3/day. Firefighting. Quarters: 2-4, 11-1 man cabins. UT755 PSV.
Kongsberg SDP 11. Recently refurbished. Southeast Asia. Prompt.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
40
Marcon International, Inc.
Supply Vessel Market Report – February 2014
File: SU21956 Supply Boat - 219.8' loa x 52.5' beam x 29.8' depth x 19.68' draft. Built 1997
by Brattvaag Skipsinnreding. Panama flag. GRT: 1,969. Class: DNV +1A1 SF, EO, DK+, HL
(2.5), DPS2. Deadweight: 3,115T. Deck Cargo: 1,550T on 151'x44' clear deck. FO: 861m3.
FW: 824m3. DW: 501m3. Dry Bulk: 9,000ft3. Calcium Chloride / Brine: 4,856BBL. Crane:
3T@10m. Winch: 2 - 10T Tuggers; 2 - 8T Capstans. Main Engines: 2 x Bergen KRMB9 total
5,460BHP. 1- 800BHP Stern thruster. Bowthruster 2-700HP. Dynamic Positioning. Speed
about 10-14kn on 10-19m3/day. Pump(s): FO, PW, DW, Mud, Base Oil, Brine & Drybulk.
Quarters: 10-1, 1-3, 2-4. Joystick control DP. UT-755 design. Southeast Asia. August 2014.
File: SU21642 Supply Boat - AHTS - 216.2' loa x 42.0' beam x 16.0' depth x 14.00'
draft. Built in 1985 by Halter Marine. Panama flag. GRT: 999. Class: ABS Ice Class
C. Deadweight: 1,200T. Deck Cargo: 675LT on 336m2 clear deck. FO: 116,000g.
FW: 275,000g. DW: 87,734g. BW: 180,412g. Dry Bulk: 6,000ft3. Liq. Mud:
2,100BBL. Calcium Chloride / Brine: 137,440g. Winch: Smatco 96 DAW-250 double
drum. Line Pull: 275T. Wire Capacity: 1,148m x 76mm. Stern Roller. Main Engines: 2
x EMD 16-645E7B total 6,140BHP. 2 - Fixed prop(s). Kort nozzle(s). Bowthruster
500HP. Bollard Pull: 90MT. Speed about 14kn. Pump(s): FO/FW/DW/Brine:
100m3/h; Liquid mud: 270m3/h. Genset(s): 2- 150kW, 2 - 99kW / GM 120/440vAC 60Hz. Firefighting: 1 - 570m3/hr @ 155m
head monitor. Quarters: 22 total. Galley. Rig chain locker & cable reels fitted. 2 - 20,000lb tuggers. Mid East. Prompt.
File: SU21143 Supply Boat - AHTS - 211.7' loa x 45.3' beam x 23.4' depth x 20.27'
draft. Built in 1983 by Ulstein Hatlo Ulstein; Norway. GRT: 1,420. Class: GL.
Deadweight: 1,903T. 124.6' x 36' deck. FO: 791m3. FW: 450m3. Dry Bulk: 8,000ft3 in 3
tanks. Liq. Mud: 1,320BBL. Crane: 1 - 2.5MT @ 8m. Winch: Brattvaag Triple Drum. 2 10T tuggers. Line Pull: 300MT. Wire Capacity: 1-1,200m 64mm, 2-1,000m 56mm. Stern
Roller. Main Engines: 2 x Wartsila 9R32 total 9,000BHP. 2 - CP prop(s). Kort nozzle(s).
Bowthruster 800HP. Bollard Pull: 100MT. Genset(s): 2 - 830kVA / Shaft, 2 - 305kVA.
Firefighting: 2 - 600m3 pumps & monitors. Quarters: 14 cabins. Passengers: 12. Starboard chain locker (3,000' of 3+" chain).
Becker rudders. Shark jaws. Towing pins. Joystick of Ulstein Mausi FCM integrated control. South America East Coast.
File: SU20965 Supply Boat - AHTS - 210.0' loa x 56.4' beam x 23.0' depth x 16.40' light x
18.05' loaded draft. Built in 2014 by Malaysian shipyard. 450m2 deck. FO: 715m3. FW:
387m3. DW: 405m3. BW: 405m3. Dry Bulk: 200m3. Liq. Mud: 405m3. Crane: Elect/hyd
5T@15m; 7.5T@5m. Winch: Elect/hyd Double drum 200T; 2 -5T capstans; 2- 10T tugger.
Wire Capacity: 2,000m x 64mm. Stern Roller. Main Engines: 2 x Niigata 8MG28HX total
3,300BHP. CP 4-blade prop(s). 2 - 7T stern thruster. Bowthruster 2-12T. Dynamic
Positioning. Bollard Pull: 80T. Pump(s): Bilge/Fire/BW/GS: 75m3/h; FW: 100m3/h; FO:
80m3/h; DW/BW: 150m3/h. Genset(s): 3 - 450ekW / CAT C18; 1- 150ekW / emerg 415v
3ph 50Hz. Firefighting: 2 - 1,750m3/h pump; 2- 1,200m3/h monitors w/water curtain.
Quarters: 42. AirCon. Galley. 300T shark jaw. 200T tow pin. Southeast Asia. 2014.
File: SU20255 Supply Boat - AHTS - 202.8' loa x 54.1' beam x 21.3' depth x 14.80' light x
16.20' loaded draft. Built in 2014 by Malaysian shipyard. Malaysia flag. 410m2 clear deck. FO:
525m3. FW: 420m3. DW: 400m3. BW: 400m3. Dry Bulk: 160m3. Liq. Mud: 400m3. Calcium
Chloride / Brine: 400m3. Crane: 7.5T. Winch: Elec/hyd double drum 25T; 2- 10T tuggers, 2- 5T
capstans. Wire Capacity: 1,000m x 58mm. Stern Roller. Main Engines: 2 x Yanmar 6EY26W
total 5,220BHP. 2 - CP 4-blade prop(s). Bowthruster 1 -10T. Pump(s): GS/Bilge/BW: 60m3/h;
FO/Cargo/FW/DW: 100m3/h. Genset(s): 3 - 450ekW / CAT C18; 1 - 136ekW / emerg 415v 3ph
50Hz. Quarters: 42. Air Conditioned. Galley. 300T shark jaw / tow pin. Southeast Asia. 2014.
File: SU19641 Support Vessel - 196.8' loa x 45.2' beam x 19.6' depth x 14.80' loaded draft.
Built in 2014 by Malaysian yard. Foreign flag. GRT: 1,547. Class: BV FiFi 1. 400m2 clear deck.
FO: 340m3. FW: 348m3. BW: 301M3. Winch: 2 - tuggers. Main Engines: 2 x Cummins KTA-50M2 total 3,600BHP. 2 - CP prop(s). Kort nozzle(s). Endurance: 30 days. Bowthruster 810BHP.
Speed about 12kn. Genset(s): 3 -275kW / CAT C18; 1- 80kW / Cummins. Firefighting: FiFi 1. 22,400m3/h monitors. Quarters: 52. Multi-Purpose Vessel / Offshore Support Vessel. Under
construction. Southeast Asia. September 2014.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
41
Marcon International, Inc.
Supply Vessel Market Report – February 2014
File: SU19741 Maintenance Vessel - 196.8' loa x 41.1' beam x 16.4' depth x 11.94' draft.
Built in 1982 by Kanmon Zosen; Shimonoseki, Japan. Rebuilt: 2003. Comoros flag. GRT:
1,048. Class: ABS + A1 (E) AMS. SOLAS. Docking due Mar 2015. Special Survey due Nov
2017. Tailshafts due Mar 2017. Deadweight: 1,179mt. Deck Cargo: 500MT on 250m2 clear
deck. FO: 262m3. FW: 860m3. DW: 860m3. Dry Bulk: 4,000ft3. Stern Roller. Main Engines:
2 x Daihatsu 6DSM32 total 4,200BHP. 2 - FP 4-blade prop(s). Kort nozzle(s). Bowthruster
400HP. Bollard Pull: 55MT. Speed 10kn on 9Tpd. Pump(s): FO/FW/DW: 80m3/h each.
Genset(s): 3 - 150kW / Daihatsu 6PKTB-16 440/220/110vAC 60Hz 3ph. Firefighting: 2 900m3/h each + 2 monitors. Cabins for 55 persons. AirCon. Passengers: 70 total. AHTS converted to work /
accommodations /maintenance / hook-up vessel. 5 - 1, 1 - 2 & 12 - 4 berth cabins. 2 - 22 seat mess rooms. Mid East.
File: SU19630 / SU19629 Supply Boat - AHTS (Two Available) - 196.8' loa x
46.6' beam x 19.7' depth x 16.70' loaded draft. Built in 2012 by Chinese
shipyard. Hong Kong flag. GRT: 1,576. Class: BV 1 + Hull + MACH + DYNAPOS
AM/TR, Supply Vessel, Tug, Special Service AHTS, OSV, Standby Vsl, FiFi 1,
Unrestricted. Deadweight: 1,974mt. Deck Cargo: 600T on 330m2 clear deck.
FO: 578.6m3. FW: 296.9m3. DW: 234.4m3. Dry Bulk: 136m3 in 4 tanks. Liq.
Mud: 220.55m3. Crane: 2T with 9.75m outreach. Winch: Double drum 200T
brake; 2 - 5T capstans; 2 - 10T tuggers. Line Pull: 75T. Wire Capacity: 1,000 x
52mm. Stern Roller. Main Engines: 2 x CAT 3516B total 4,400BHP. Berg CP prop(s). Stern thruster 400kW. Bowthruster 2 550kW. Dynamic Positioning. Bollard Pull: 56T. Speed about 12kn. Pump(s): Liqmd: 2 - 30-60m3/h dual speed Desmi.
Genset(s): 1-245kW/CAT 3406C, 2-450kW/CAT C-18, 1-100kW/Deutz 400vAC 50Hz 3ph. Firefighting: 2 - 1,550m3/h
pumps; 300/1,200m3/h foam/sea-water FFS monitor. Quarters: 46 persons (2-1, 16-2, 3-4). Air Conditioned. Galley. FiFi-1
anchor handling tug supply vessel. Hydraulic shark jaws & tow pins 200T. Kongsberg K-POS DP-21 system. Far East.
File: SU19401 Supply Boat - AHTS - 194.2' loa x 40.2' beam x 17.4' depth x 13.60' draft.
Built in 1978 by Carrington Shipways; Australia. Indonesia flag. GRT: 1,019. Class: ABS
A1(E), AMS, ACCU / BKI. Special Survey due 03/2018. Deadweight: 956T. Deck Cargo:
550MT on 95.5' x 31.16' clear deck. FO: 292MT. FW: 177MT. DW: 202MT. Dry Bulk:
170m3 in 4 tanks. Liq. Mud: 240m3. Crane: 5T SWL Hydralift & boat davit. Winch: Smatco
84 DAW double drum waterfall. Line Pull: 385,000lbs. Wire Capacity: 2 - 1,200m with
58mm wire. Stern Roller. Main Engines: 2 x EMD 16-645E7A total 5,750BHP. 3,050mm
Lips 4-blade CP prop(s). Kort nozzle(s). Range abt. 14,700nm at 12kn. Bowthruster 5.4MT. Bollard Pull: 81MT. Speed about
8-14kn on 100-200gph. Pump(s): FO cargo pump with flow meter. Genset(s): 2 - 200kW / GM 12V71T; 1 - 140kW / GM 6V71
415vAC 50Hz. Firefighting: 1,200m3/h Nijhuis / GM 12V92 pump. Quarters: 8-1, 6-2, 2-4 person. Air Conditioned. Galley.
Triplex 300MT Shark jaw with tow pins. 2 - 5T Hagglund tuggers. 2 - 10T Hagglund capstans. 2x8 atm bulk air compressors.
Mission 2x3 100m3/h centrifugal bulk mud pump. 2x3 centrifugal base oil pump. Rescue boat. Southeast Asia.
File: SU19351 Supply Boat - 193.6' loa x 42.0' beam x 17.1' depth x 14.40' draft. Built in 1986 by
Cochrane & Sons; Selby, U.K. Panama flag. GRT: 1,199. Class: DNV + 1A1. Deadweight: 1,442T.
Cargo: 700MT on 117.75' x 33.5' deck. FO: 354m3. FW: 338MT. DW: 289MT. Dry Bulk: 6,000ft3 in
tanks. Liq. Mud: 2,000BBL. Calcium Chloride / Brine: 870BBL. 1 - 10T tugger; 2 - 5T capstans. Main
Engines: 2 x B&W 6L28/32V total 3,590BHP. CP props. Alpha. Bow & stern thruster. Joystick
control. Bowthruster 4.7T. Speed 8-12kn on 2.5-6.75Tpd. Genset(s): 3 - 248kW / CAT3406; 1 88kW / CAT3304 440v 60Hz. Quarters: 10-1, 1-4, 1-6 man. Southeast Asia. August 2014.
File: SU18438 Supply Boat - AHTS - 184.6' loa x 38.6' beam x 16.7' depth x 10.80' light x 15.40' loaded draft. Built in 1971
by Cochrane & Sons; UK. Canada flag. GRT: 700. ASPPR Arctic "A" Marpol. Now only
Canadian Home Trade II. Deadweight: 706T. Light Disp.: 1,008mt. Deck Cargo: 350T on 82' x
28.2' deck. FO: 446.1m3. FW: 66.8m3. DW: 344.7m3. Dry Bulk: 3,600ft3 in 3 tanks cement.
Crane: 1 - 8T boom. Winch: Hydraulic double drum waterfall. 1-5T tugger. Line Pull: 136T. Wire
Capacity: 2,500' 2 1/8"/ 900' 2 1/2". Stern Roller. Main Engines: 2 x Deutz 12MSBV628 total
5,280BHP. Seffke 4-blade stainless CP prop(s) on 314mm shaft(s). Turbo charged. Repowered
1982. Bowthruster 350HP. Bollard Pull: 60MT. Speed about 10.5-13kn. on 11.5-15.4m3/d.
Pump(s): FW: 80m3/h; FO: 80m3/h; BW: 44.7m3/h; DW: 80m3/h. Genset(s): 1-350kW/CATD346, 1-125kW/CATD3306, 1350kW/CAT3408 (New Fall 2001). Quarters: 13 crew. AirCon. Passengers: 3 supers. Ice strengthened anchor handling
towing supply vessel. Two control stations. 3.5ft dia. moonpool. Equipped with high speed rescue craft. 3.5m3/d watermaker.
Working in seismic service for last four years on Canadian east coast. Marcon sold to present owners. Canada East Coast.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
42
Marcon International, Inc.
Supply Vessel Market Report – February 2014
File: SU18045 Supply Boat - 180.0' loa x 40.0' beam x 14.0' depth x 6.00' light x 12.00' loaded
draft. Built in 1977 by Halter Marine. Rebuilt: 1992. U.S. flag. GRT: 259. Class: ABS + A1 (E) +
AMS thru Oct 2017. Annual Hull due 31 Oct 2014. Docking due Feb 2016. USCG COI til Mar
2016. Deadweight: 1,030T. Deck Cargo: 675LT on 124' x 29' clear deck. FO: 76,790g. FW:
12,994g. BW: 138,794g. Dry Bulk: None. Liq. Mud: None. Crane: 1-10T hydraulic. Winch:
Single Drum HBL-5D37 + 1 - Tulsa 34 tugger. Main Engines: 2 x CAT D399TA total 2,250BHP.
4-blade 80" x 61" cast steel props on Stainless shafts. Annual Machinery survey due 31 Oct
2014. Tailshafts due 28 Feb 2018. Bowthruster 400HP. Bollard Pull: 25MT. Speed about 1113kn on 71-94gph. Pump(s): FiFi 10,600gpm Skum not operational, but in-place. Genset(s): 2 99kW / GM8V71. 2 monitors 10,500gpm @ 425' not operational. Quarters: 15 in 7 cabins.
AirCon. Oil dispersant 6,400g. Foam 7,000g 2-30' spray arms. Recovered oil 165,278g. FiFi 1
equivalent: total 10,000GPM @ 425' still in place, but not operational. Totally rebuilt to ABS Class (1992/3). No Jones Act
coastwise trading. Major rebuild in '97 with about US$ 350,000 spent on steel renewal. All ballast tanks coated. Although not
officially on the market, we may be able to develop on a very private and confidential basis. Further technical details and
vessel identity upon serious named interest and potential buyer signing Non-Disclosure Agreement with Seller. As brokers
only, we invite your best, outright serious “as is, where is” cash offers for Owner's immediate consideration. U.S. Gulf Coast.
File: SU18042 Supply Boat - 180.0' loa x 40.0' beam x 11.7' depth x 5.00' light draft x 11.70'
loaded draft. Built in 1983 by Offshore Shipbuilding; Palatka, FL. U.S. flag. GRT: 288. Class: ABS
+ A1 + AMS thru 2007. U.S. Coast Guard COI exp. Dec 2010. Deck Cargo: 550LT on 94' x 31'
clear deck. FO: 67,316g. FW: 19,000g. DW: 157,000g. Dry Bulk: 4,000ft3 in 4 tanks. Liq. Mud:
1,700BBL. Winch: Smatco 66 DAW double drum + 2 - 5T tuggers. Line Pull: 300,000lb. Stern
Roller. Main Engines: 2 x EMD 12-645CE2 total 3,000BHP. Bowthruster 300HP. Bollard Pull:
39.2ST. Genset(s): 2 - 99kW / GM 6-71. Firefighting: 1,000gpm fire monitor. Quarters: 16 berths.
Air Conditioned. Galley. Cold stacked. While not officially on the market, we may be able to
develop on a private & confidential basis. Price guidance and further technical details on request.
As brokers only, we invite your best firm, reasonable cash offers “as is, where is” after inspection for Owner's consideration.
File: SU17509 Supply Boat - 175.0' loa x 40.0' beam x 11.7' depth x 5.00' light x 11.70'
loaded draft. Built in 1982 by Offshore Shipbuilding.; Palatka, FL. U.S. flag. GRT: 282. Class:
ABS + A1, AMS. Docking due 19 Apr 2015. Special Survey due 28 Feb 2017. USCG COI exp.
March 2015. Deck Cargo: 600LT on 120' x 31' deck. FO: 52,000g. FW: 19,000g. DW:
140,000g. Dry Bulk: 4,000ft3 in 4 tanks. Liq. Mud: 1,700BBL. Main Engines: 2 x GM 16V149
total 1,800BHP. Bowthruster 300HP. Genset(s): 2 - 75kW / GM6-71. Firefighting: Fire monitor.
Quarters: 15 berths. AirCon. Reportedly operational and good condition. While not officially on
market, we may be able to develop. Price and technical details on request. As brokers, we
invite your best firm, reasonable cash offers “as is, where is” after inspection for Owner's consideration. U.S. Gulf Coast.
File: SU17357 Supply Boat - AHTS - 173.8' loa x 39.4' beam x 15.7' depth x 12.46'
draft. Built in 2008 by Guangdong Jiangmen Shipyard, China. Singapore flag. GRT: 764.
Class: BV 1 Tug Supply Vessel Unrestricted. Deadweight: 1,000mt. 400m2 clear deck.
FO: 698.66m3. FW: 146.7m3. BW: 58.92m3. Crane: 2.5T. Winch: Double drum waterfall.
Line Pull: 40T@5m/min. Wire Capacity: 900m x 44mm. Main Engines: 2 x Cummins
KTA50-M2 total 3,200BHP. 2 - FP prop(s). Kort nozzle(s). Bowthruster 5T. Bollard Pull:
44T. Speed about 12kn max. Pump(s): FO: 1-100m3/h & 1-500m3/h, FW: 1-50m3/h.
Genset(s): 3 - 240kW / Cummins 415v 50Hz. Firefighting: 1 - 1,200m3/h @ 14 bar pump.
2- 600m3/h 45m throw monitors. Quarters: 22 berths in 8 cabins. Air Conditioned. Four tugs and two deck barges for sale or
charter. See DB21061, DB28085, SU17357, TG12019 and TG24029. Southeast Asia.
File: SU17034 / SU17033 Supply Boat (Two Available) - 170.0' loa x 36.0' beam x
12.0' depth x 5.80' light draft x 10.23' loaded draft. Built in 1999 by Master Boat
Builders Inc.; AL, USA. U.S. flag. GRT: 93. Class: ABS Loadline thru 26 Feb 2014.
USCG COI Grade "E" thru 28 Feb 2016. Deck Cargo: 500T on 103' x 30' clear deck.
FO: 52,800g. FW: 10,000g. DW: 81,500g. Liq. Mud: 71,400g. Main Engines: 2 x CAT
3508 total 1,610BHP. 4-blade bronze prop(s). Bowthruster. Dynamic Positioning.
Speed about 12kn. Genset(s): 2 - 99kW / CAT 3304 480vAC 60Hz. Firefighting: 4'
Ekhart monitors. Quarters: 20 berths in 6cabins. AirCon. MT DP-1 with joystick. U.S.
Coast Guard approved to carry fuel in the liquid mud tanks. U.S. Gulf Coast.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
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Marcon International, Inc.
Supply Vessel Market Report – February 2014
File: SU16620 Supply Boat - 166.0' loa x 36.0' beam x 12.0' depth x 7.60' draft. Built in
1978 by Bollinger; Machine; Lockport, LA. U.S. flag. GRT: 199. Class: ABS LL. USCG
COI. Deck Cargo: 350LT on 109' x 27' deck. FO: 110,960g. FW: 2,100g. DW: 141,204g.
Liq. Mud: None. Main Engines: 2 x GM 16V149 total 2,050BHP. Bowthruster. Dynamic
Positioning. Speed about 13kn on 100gph. Genset(s): 2 - 75kW Delco / GM6V-71.
Quarters: 16 (4-2,2-4 berths). Passengers: 22. Steel hull standard supply vessel.
Recently installed big bow thruster and DP-1 positioning. U.S. Gulf Coast. Prompt.
File: SU16619 Supply Boat - 166.0' loa x 38.0' beam x 12.6' depth x 12.00' draft. Built in 1979 by Halter
Marine. U.S. flag. GRT: 233. ABS Loadline renewal overdue Oct 2009. U.S. Coast Guard COI exp. Jan
2013. Built to ABS +A1 +AMS. Deadweight: 867T. Light Disp.: 539lt. Deck Cargo: 475LT on 120' x 30'
clear deck. FO: 43,200g. DW: 155,340g. Dry Bulk: 3,000ft. Liq. Mud: 1,850BBL. Main Engines: 2 x GM
16V149NA total 1,860BHP. 4-blade 74"x64" prop(s). Endurance 24 days. Bowthruster 200HP. Bollard
Pull: 25.2ST. Speed about 12kn on 60-70gph. Genset(s): 2 - 75kW / GM6-71. Fire monitor. Quarters: 16
in 6 cabins. AirCon. Cold stacked. U.S. Gulf Coast.
File: SU16609 Supply Boat - 166.0' loa x 38.0' beam x 13.0' depth. Built in 1979 by
Halter Marine; Chickasaw, LA. U.S. flag. GRT: 233. Class: ABS Loadline (exp. Sept 10,
2016). USCG COI exp. Feb 1, 2018. Deck Cargo: 550LT on 90' x 27' deck. FO: 50,000g.
FW: 60,000g. DW: 108,500g. Liq. Mud: 1,190 BBL. Main Engines: 2 x GM 16V149NA
total 1,800BHP. 2 - FP prop(s). 11/2013 PME: 1,877 hours / SME: 1,871 hours.
Bowthruster 300HP. Speed about 13kn. Genset(s): 2 - 75kW / GM 6-71 450vAC 60Hz.
Firefighting: 1,000gpm. 16 bunks in 7 cabins. Built to ABS +A1 Class. U.S. Gulf Coast.
File: SU16527 Supply Boat - 165.0' loa x 38.0' beam x 13.5' depth. Built in 1979 by
Fred Setton Inc. U.S. flag. GRT: 195. Class: ABS Loadline (exp Jan 2016). 90' x 27'
clear deck. FO: 31,200g. FW: 3,000g. DW: 128,400g. Dry Bulk: 3,600ft3 total. Liq.
Mud: 1,000BBL. Main Engines: 2 x GM 16V149 total 1,800BHP. 2 - FP prop(s).
Bowthruster. Genset(s): 2 - 99kW / GM 6-71 /Delco. Quarters: 14 (2-2, 3-4). Air
Conditioned. Galley. 20 berths total. Stack aft. U.S. Gulf Coast.
File: SU15760 Supply Boat - AHTS - 157.5' loa x 36.1' beam x 11.5' depth x 11.16' draft. Built in
2010 by Southeast Asian shipyard. Malaysia flag. GRT: 494. Class: LR +100A1 Offshore Tug/
Supply, +LMC. Special Survey & Docking Surveys due 12/2015. Deadweight: 509mt. 208m2 clear
deck. FO: 290MT. FW: 300MT. Winch: 10MT tugger, 2 - 5MT capstan. Main Engines: 2 x
Cummins KTA-38-M2 total 2,434BHP. 2 - FP prop(s). Kort nozzle(s). Bowthruster 350kW. Speed
about 12kn. Pump(s): FO: 120m3/h; FW: 80m3/h. Genset(s): 2 - 150kW / Cummins 6CTA8.3-D(M)
415vAC 50Hz. Firefighting: 1/2 FiFi. Quarters: 24 berths. AirCon. Dispersant system with pump &
spray boom. Bulbous bow. Southeast Asia. January 2014.
File: SU15010 Supply Boat - 150.0' loa x 36.0' beam x 11.5' depth x 5.00' light x 9.79'
loaded draft. Built in 1999 by Bollinger Shipyards. U.S. flag. GRT: 90. U.S. Coast Guard
Subch "L". ABS Loadline. COI valid till July 2014. Deadweight: 500lt. Deck Cargo: 365LT on
97' x 30' deck. FO: 39,119g. FW: 14,250g. DW: 59,312g. Liq. Mud: 1,195BBL. Crane: 18T
Telescoping Hydraulic. Main Engines: 2 x GM 8V149TI total 1,520BHP. Bowthruster 300HP.
Speed about 10-12kn on 55-60gph. Pump(s): DW/FW: 200gpm @ 150', FO: 200gpm @ 150',
Liq Mud: 500gpm @ 150'. Genset(s): 2 - 75kW. Firefighting: 1,250gpm fire monitor. Quarters:
16 berths in 5 cabins. Air Conditioned. Galley. Mini-supplier. EEP equipped. Open stern with side gates port and starboard
for deployment and streaming of spill response equipment. Methanol tanks have been switched to oil spill recovery storage,
but can be switched back easily. Reportedly in very good condition. U.S. Northwest.
We are also interested in receiving information on any other vessels which you may have surplus to your requirements and
available for sale or charter on either a published or a private and confidential basis.
See our website at www.marcon.com for new and updated OSV and AHTS listings.
www.marcon.com
Details believed correct, not guaranteed. Offered subject to prior sale or charter.
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