Page 68: of Offshore Engineer Magazine (Jun/Jul 2014)

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(8%) on order, of which 118 units are scheduled for delivery by end 2014.

Of the total feet, 543 (28%) are older than 25 years and mainly “non-com- petitive,” consisting 412 small AHTSs

Vessels (29% of the small-size feet) and 131 mid-size AHTSs (24% of the mid-size feet).

Challenges and opportunities, from Indonesia to Brazil

Norway-based Farstad Shipping has 30

AHTS vessels in its 59-strong feet, with a further two due for delivery between

February 2014 and July 2015. Far Sirius, one of the largest AHTS in build, accord- ing to RS Platou, is due for delivery in

April. Far Sirius is a UT 731 CD design, with 24,000 BHP, and 259-tonne bollard pull, being built by Vard at Langsten.

Swire Pacifc Ofshore’s latest D-Class AHTS, Pacifc Dragon.

Photo from Swire Pacifc Ofshore.

In its 2013 annual report, Farstad said it expects a “slight improvement” in deal with the market landscape by focus- the market in 2014, but it says this will ing on more sophisticated tonnage, as vary between geographical markets. An their cost structure becomes too expen- improvement in the North Sea market sive for the lower-end assets. will depend on tonnage moving to other In September 2013, Vard delivered markets. It says the Indian Pacifc mar- what it called one of the most sophis- kets are characterized by overcapacity, ticated AHTS vessels built, the Skandi while the Brazilian market, West Africa, Iceman. Built to ice class and equipped and the Gulf of Mexico offer potential for multi-role operations in harsh and positive developments. arctic areas, it is 94m-long, 24m beam,

Solstad Offshore, also from Norway, and has a rated bollard pull capacity of has 20 AHTS. In its 2013 report, Solstad 280-tonne. said demand for more traditional AHTSs Bourbon’s latest order is a Vard Design did not increase as expected in 2013, designed, 270-ton bollard pull AHTS, but there were several signals indicat- 93.6m-long, latest generation vessel, also ing increased demand in 2014, aided by able to work in arctic conditions, sched- more rigs coming into operation, espe- uled for delivery from Vard Brattvarg in cially in the North Sea, West Africa and Norway in Q1 2016. the US Gulf. Swire Pacifc Offshore (SPO) has been

Vard’s Niteroi yard. Photo from Vard.

Norway-based Siem Offshore has 10 expanding its feet, focusing on deeper

AHTSs, two on contract for seasonal opera- waters, where it expects demand to be compelling,” particularly for shallow- greatest, with a string of eight new, 240-

Turning a corner tion in the Kara Sea, during 2014 and 2015,

The fall in orders could signal a water assets supporting jackups. tonne bollard pull, D-Class vessels. The with options for 2016 and 2017, and none rebound in the market, suggests Vard:

According to the RS Platou presenta- frst was launched in February 2013, and on order. In a March presentation, CEO “An increasing rig count, coupled with

Terje Sorensen said the North Sea spot tion, AHTS demand generated by jackups the eighth, the Pacifc Dragon, in April. limited feet growth, is the best indica- market for high-end AHTS would improve is estimated to have grown rapidly. tion that a long-awaited rebound in the

Specifcally, the new generation of due to the increasing number of rigs oper- market for large AHTS could fnally ating in the region, and that the market was jackups, which are larger than previous materialize in 2014. AHTS demand is generation jackups, are generating the relatively stable for high-end units.

Siem also says several AHTS with less further bolstered by an upswing in off- demand, requiring vessels with 120- than 15,000 bhp are due to leave the North shore construction activity as a result of tonne bollard pull.

Sea for shorter term contracts during 2014, high committed upstream investments,

In France-headquartered vessel and by increased offshore activity in further improving the market. There is operator Bourbon’s 2013 annual results the Arctic regions, including drilling also increasing demand in the US Gulf of conference call in March, CEO Christian campaigns offshore Greenland and in

Mexico, West Africa, and Oceania, and a

Lefévre, said the AHTS feet is roughly the Kara Sea, all of which require mod- positive outlook in Brazil, and in harsh or 1400, with 388 more than 25 years old ern, high-end tonnage suited to harsh remote areas, such as the Barents Sea, Kara and only 97 on order, offering favorable environments.”

Sea, Canada, and US Alaska, Siem says.

market conditions for those with new

Palmer agrees that the fall in orders generation units.

Sophisticated tonnage

Palmer says there are currently means that market demand/supply 2022 AHT/AHTSs in total, with 165 fundamentals are “starting to look really Palmer predicts that larger players will

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