Twenty-five OSVs in the U.S.Gulf market are seeking work this month, and the outlook for the near-term is not good.Behind the slide in OSV demand is the region's weakening offshore rig count. While deepwater activity continues at a healthy pace, jackup demand is on the skids. At 37, the number of jackups working in the area is at its lowest level since September 1976.In what could turn out to be a serious understatement, one vessel owner said, "It's not looking too good."Owners are looking to other markets for relief, although many vessels may instead be stacked.Some vessel managers are seeing their fleet utilization fall well below 50 percent. One owner told ODS-Petrodata's The Offshore International Newsletter, "It sucks! Lucky if you can give them away." The tumble in demand has given operators leverage to drive down prices. One of the region's boat managers commented, "It's the same as last year in February. A lot of uncertainty. A lot of operators are holding back on contracts, and going with spot work, because they can get them for next to nothing with no commitment."
Saturday, February 21, 2009
Support vessel demand follows tumbling rig count
The U.S. Gulf of Mexico working offshore support vessel (OSV) count plummeted in its most severe decline in recent years.
Twenty-five OSVs in the U.S.Gulf market are seeking work this month, and the outlook for the near-term is not good.Behind the slide in OSV demand is the region's weakening offshore rig count. While deepwater activity continues at a healthy pace, jackup demand is on the skids. At 37, the number of jackups working in the area is at its lowest level since September 1976.In what could turn out to be a serious understatement, one vessel owner said, "It's not looking too good."Owners are looking to other markets for relief, although many vessels may instead be stacked.Some vessel managers are seeing their fleet utilization fall well below 50 percent. One owner told ODS-Petrodata's The Offshore International Newsletter, "It sucks! Lucky if you can give them away." The tumble in demand has given operators leverage to drive down prices. One of the region's boat managers commented, "It's the same as last year in February. A lot of uncertainty. A lot of operators are holding back on contracts, and going with spot work, because they can get them for next to nothing with no commitment."Read More
Twenty-five OSVs in the U.S.Gulf market are seeking work this month, and the outlook for the near-term is not good.Behind the slide in OSV demand is the region's weakening offshore rig count. While deepwater activity continues at a healthy pace, jackup demand is on the skids. At 37, the number of jackups working in the area is at its lowest level since September 1976.In what could turn out to be a serious understatement, one vessel owner said, "It's not looking too good."Owners are looking to other markets for relief, although many vessels may instead be stacked.Some vessel managers are seeing their fleet utilization fall well below 50 percent. One owner told ODS-Petrodata's The Offshore International Newsletter, "It sucks! Lucky if you can give them away." The tumble in demand has given operators leverage to drive down prices. One of the region's boat managers commented, "It's the same as last year in February. A lot of uncertainty. A lot of operators are holding back on contracts, and going with spot work, because they can get them for next to nothing with no commitment."
Jumbo Offshore Contract From Technip USA
Jumbo Offshore v.o.f has been awarded a combined transportation and installation contract by Technip USA in connection with the Cascade and Chinook fields in the Gulf of Mexico.
Jumbo will support Technip USA by providing expertise in heavy lift and transportation during the engineering, transportation and installation phases.The contract scope of work consists of:Collecting and transporting five buoyancy cans from Technip’s yard in Pori, Finland to the Cascade and Chinook field in the Gulf of Mexico located 160 miles south of the Louisiana Coast and Jumbo’s heavy lift vessel Fairplayer will assist Technip’s deepwater pipelay construction vessel Deep Blue with the installation of five Buoyancy Cans and Free Standing Hybrid Risers (FSHRs).Jumbo and its client, Technip USA, have adopted an integrated engineering approach using both companies’ specialized personnel and skills in order to ensure well-prepared transport and heavy lift operations during the execution phase. The Fairplayer is scheduled to mobilize in Europe the third quarter of 2009.
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Jumbo will support Technip USA by providing expertise in heavy lift and transportation during the engineering, transportation and installation phases.The contract scope of work consists of:Collecting and transporting five buoyancy cans from Technip’s yard in Pori, Finland to the Cascade and Chinook field in the Gulf of Mexico located 160 miles south of the Louisiana Coast and Jumbo’s heavy lift vessel Fairplayer will assist Technip’s deepwater pipelay construction vessel Deep Blue with the installation of five Buoyancy Cans and Free Standing Hybrid Risers (FSHRs).Jumbo and its client, Technip USA, have adopted an integrated engineering approach using both companies’ specialized personnel and skills in order to ensure well-prepared transport and heavy lift operations during the execution phase. The Fairplayer is scheduled to mobilize in Europe the third quarter of 2009.
Hellas-based shipping Company, Chief Engineer and Second Engineer Indicted for Covering Up Pollution
A federal grand jury in Newark, N.J., has returned an eight-count indictment charging a Liberian company that manages an oceangoing bulk carrier vessel, M/V Myron N, along with the ship's chief engineer and second engineer for covering up discharges of oil-contaminated waste at sea, the Justice Department announced today.
Dalnave Navigation Inc., a company incorporated in Liberia with offices in Athens, Greece, Chief Engineer Panagiotis Stamatakis and Second Engineer Dimitrios Papadakis, both of Greece, were each charged with conspiracy and violating the Act to Prevent Pollution from Ships (APPS) by failing to maintain an accurate ship record concerning the disposal of oil-contaminated waste. They were also charged with making false statements to U.S. Coast Guard authorities regarding the pumping of oil-contaminated waste overboard and five counts of obstruction of justice concerning the statements made to the Coast Guard. The indictment alleges that between 2004 and September 2008, Dalnave, and more recently through its two senior engineers on the M/V Myron N, Stamatakis and Papadakis, directed subordinate crew members to use a metal pipe to bypass the ship's oil water separator and instead discharge the oil-contaminated waste directly overboard. Thereafter, on Sept. 8, 2008, in the port of Newark, N.J., the defendants presented a fabricated oil record book that failed to disclose prior discharges into the ocean of oil-contaminated waste by the M/V Myron N.Read More
Dalnave Navigation Inc., a company incorporated in Liberia with offices in Athens, Greece, Chief Engineer Panagiotis Stamatakis and Second Engineer Dimitrios Papadakis, both of Greece, were each charged with conspiracy and violating the Act to Prevent Pollution from Ships (APPS) by failing to maintain an accurate ship record concerning the disposal of oil-contaminated waste. They were also charged with making false statements to U.S. Coast Guard authorities regarding the pumping of oil-contaminated waste overboard and five counts of obstruction of justice concerning the statements made to the Coast Guard. The indictment alleges that between 2004 and September 2008, Dalnave, and more recently through its two senior engineers on the M/V Myron N, Stamatakis and Papadakis, directed subordinate crew members to use a metal pipe to bypass the ship's oil water separator and instead discharge the oil-contaminated waste directly overboard. Thereafter, on Sept. 8, 2008, in the port of Newark, N.J., the defendants presented a fabricated oil record book that failed to disclose prior discharges into the ocean of oil-contaminated waste by the M/V Myron N.
Consolidation among Chinese yards inevitable
Dalian: The China Daily has reported that China's shipbuilding industry, which last year suffered its steepest annual decline since 2003, is likely to be squeezed further this year by shrinking order books and order cancellations as the global economy remains in recession.
The industry, the world's second largest by capacity, will see more small shipyards swallowed by big players as mergers and acquisitions are expected to pick up pace this year.According to market research company Clarkson Research Services, Chinese shipyards saw their orders plunge 40.9%YoY in 2008 to 58.18 DWT against an average global fall of 43.2%.The China Association of the National Shipbuilding Industry said in its latest report shipyards worldwide will see orders further plunge to 40 to 60 million DWT in 2009, while the new orders Chinese shipyards receive is likely to drop to 20 million to 30 million DWT a 48.4% to 65.6% fall form a year earlier.Mr Ye Zhigang analyst with Haitong Securities said in a report that 15% to 25% of Chinese yards' orders or 300 million DWT to 500 million DWT are likely to be canceled over the next three years, five percentage points higher than the global average. He said that the industry will remain in depression during the next three years and another period of growth will come after 2013.Read More
The industry, the world's second largest by capacity, will see more small shipyards swallowed by big players as mergers and acquisitions are expected to pick up pace this year.According to market research company Clarkson Research Services, Chinese shipyards saw their orders plunge 40.9%YoY in 2008 to 58.18 DWT against an average global fall of 43.2%.The China Association of the National Shipbuilding Industry said in its latest report shipyards worldwide will see orders further plunge to 40 to 60 million DWT in 2009, while the new orders Chinese shipyards receive is likely to drop to 20 million to 30 million DWT a 48.4% to 65.6% fall form a year earlier.Mr Ye Zhigang analyst with Haitong Securities said in a report that 15% to 25% of Chinese yards' orders or 300 million DWT to 500 million DWT are likely to be canceled over the next three years, five percentage points higher than the global average. He said that the industry will remain in depression during the next three years and another period of growth will come after 2013.
No compromise on safety
The current Chairman of the International Association of Classification Societies (IACS), Oh Kong-gyun, has said that during the global economic downturn, the IMO, flag administrations and classification societies would have to be more active in promoting safety standards and policies to help protect life at sea.
“After a period of unprecedented economic expansion, we are now facing a major global economic downturn that will impact the entire shipping industry,” Mr Oh said at the recent Hong Kong Shipowners’ Association gathering. “We fully expect that this will pose more challenges to ship safety, shipbuilding quality and protection of the marine environment. “Simultaneously we can expect an increasing public expectation and demand on the IMO, flag administrations and classification societies to uphold and actively promote standards and policies that help protect the safety of life at sea and the marine environment.” He said he hoped that the maritime community had the strength to cope during the financial instability.Read More
“After a period of unprecedented economic expansion, we are now facing a major global economic downturn that will impact the entire shipping industry,” Mr Oh said at the recent Hong Kong Shipowners’ Association gathering. “We fully expect that this will pose more challenges to ship safety, shipbuilding quality and protection of the marine environment. “Simultaneously we can expect an increasing public expectation and demand on the IMO, flag administrations and classification societies to uphold and actively promote standards and policies that help protect the safety of life at sea and the marine environment.” He said he hoped that the maritime community had the strength to cope during the financial instability.
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