support vessels - Offshore Shipbrokers

North Sea Market Report
January 2007
DRILLING RIGS
Reported Fixtures
ConocoPhillips JU Ensco 80 Extension - 1 well from March 06 Mar-07
Lundin HDJU GSF Galaxy III 3 wells - circa 5 months Aug-07
Marathon Oil SS Deepsea Bergen Extension - 2 wells from Aug 07 Aug-07
Nexen
Petroleum SS GSF Arctic IV Sublet - 1 year from Aug 07 Aug-07
RWE-DEA JU Noble Al White Extension - 1 well circa 100 days from April 07 Apr-07
Shell JU GSF Britania Extension - 1 year from March 07 Mar-07
Shell JU GSF Monarch Extension - 1 year from March 07 Mar-07
Statoil SS Deepsea Rig 1 Newbuld Drilling rigs - 3 to 10 years Mar-09
Statoil SS Aker H-6e newbuild Newbuld Drilling rigs - 3 to 10 years Feb-08
Statoil SS Transocean Searcher Extension - 3 years from Oct 08 Oct-08
Total E&P SS Sedco 714 Extension - 1 year from Dec 07 Dec-07
Operators with requirements for rigs are
ADTI SS 2 wells - West Shetland Apr-07
ADTI JU 6 - 12 months Oct-07
ATP JU 2 years Oct-08
CH4 Energy Ltd JU 1 year + opts, Southern N Sea Jan-08
ConocoPhilips - Norway SS Exploration well on Ekofisk Feb-07
ENI Norway SS 3 wells Atlantic Margin Jan-08
ENI Norway SS 3 or 5 years + opts in Barents Sea Jul-09
Exmar Oil & Gas SS 1 to 4 wells Jul-07
Exxon Mobil JU 1 Well 80 - 100 days Jun-07
Gaz De France HDJU 3 wells - 150 days each Jun-08
Ithaca Energy SS 2 x SS for 2 development wells Jul-07
Ithaca Energy JU JU for 1 exploration well Jul-07
Maersk Oil UK SS 6 months + opts Jul-07
Marathon Oil SS HPHT work - 2 years firm + opts Dec-08
Norsk Hydro SS 2 rigs on Troll field Jan-09
Perenco JU 3 Wells Apr-07
Revus Energy SS 2 exploration wells Jan-10
Rider Hunt SS 1 - 3 years, West of Shetland Feb-08
13 Rubislaw Terrace
Aberdeen AB10 1XE
Telephone No +44 (0) 1224 628788
aberdeen@offshore-shipbrokers.co.uk
9 – 11 Folgate Street
London E1 6BX
Telephone No +44 (0) 207 3779774
london@offshore-shipbrokers.co.uk

Rider Hunt JU 1 - 3 years, Southern N Sea Feb-08
Senergy SS 1 year Jan-08
Senergy JU 1 year Jan-08
Shell Norway SS 4 years + opts Jan-09
Statoil SS 13 wells (1035 days) + 3 well opts Dec-08
Total E&P HDJU/SS Circa 170 days Victoria Field Apr-07
Tullow Oil JU Exploration Wells - 40 days each Feb-07
Unknown JU 180 days + opts Dec-07
Vermilion Exploration JU/SS 1 Well - Aquitaine Basin Sep-07
Xcite Energy Ltd JU/SS 1 Well circa 25 days Apr-07
SUPPORT VESSELS
The beginning of January saw the traditional slow start to the spot market, however this was not
long lived and by the middle of January rates were once again rising sharply with availability
remaining tight through until the end of the month.
The first week of January saw a number of vessels idle in port after a quiet spell over the festive
period, rates for PSVs were around the £9000 level with AHTS slightly higher at circa £20,000
though still well down from the levels seen towards the end of 2006. The second week of January
saw rates beginning to creep up with PSVs fixing at the £14,000 level and AHTS reaching £40,000.
By the middle of the month, rates had risen sharply in response to a tightening market with levels
doubling over the space of a few days seeing PSVs fetching £31,000 levels and AHTS fixing at
around the £80,000 level. This remained the situation right through until the end of the month with
PSVs continuing to fetch circa £30,000 and AHTS ranging from £60,000 to £100,000.
Looking at the months ahead, the general consensus amongst owners and brokers alike is that
2007 will once again be a very busy year with rates approaching those levels seen during 2006.
Many charterers are preparing themselves for this already by securing Term PSVs to avoid the
high rate levels expected on the spot market during the summer months. This is starting to have a
knock on effect with larger PSV tonnage beginning to look extremely scarce during the summer
months, which is being reflected in the rising rates now being offered for term work.
Latest Fixtures
North Sea
ADTI PSV Rem Fortune Support of GA II - Circa 4 -5 months March 07
ADTI PSV Northern Supporter 1 well supporting Ensco 80 Jan 07
ADTI PSV Rem Supplier Supply duties - Extended until June 07 Extension
Allseas PSV Highland Fortress Extended 2 years until Jan 09 Extension
CNR PSV Northern Gambler Supporting Byford Dolphin - Extended until Dec 07 Extension
DeepOcean PSV Edda Freya Trenching work - Extended until April 09 Extension
DPT Norway AHTS/StandbyEsvagt Connector Front running for newbuild - Circa 2 months March 07
MLS AHTS Normand Mjolne All Duties - extended until May 07 Extension
MLS / ENI PSV Ocean Mainport Cargo Duties - Extended until April 07 Extension
MLS / Statoil AHTS Northern Corona Supporting the Erik Raude - Extended until March 07Extension
13 Rubislaw Terrace
Aberdeen AB10 1XE
Telephone No +44 (0) 1224 628788
aberdeen@offshore-shipbrokers.co.uk
9 – 11 Folgate Street
London E1 6BX
Telephone No +44 (0) 207 3779774
london@offshore-shipbrokers.co.uk

Nexen Petroleum PSV Portosalvo Cargo Duties - Extended until July 07 Extension
Norsk Hydro AHTS Bourbon Orca All Duties – 3 years + options Feb 07
Peterson PSV Safe Truck Supply duties - Extended until July 07 Extension
Rovtech PSV Highland Eagle ROV Work - Extended until March 07 Extension
Saipem AHTS Far Sovereign Construction Support - Extended until Nov 07 Extension
Statoil PSV Edda Freya ROV Duties - Circa 5 months April 07
Team PSV Highland Pride Supply Duties - Extended until Jan 08 Extension
Team PSV Highland Star Supply Duties - Extended until Jan 08 Extension
Technip Offshore AHTS Normand Pioneer Construction support duties - Circa 1 month Jan 07
Total E&P PSV Troms Falken Extended until Feb 2008 Extension
Wintershall AHTS Normand Prosper Support Duties - Extended until April 07 Extension
International
Acergy West AfricaAHTS Sea Cheetah Support duties - Circa 3 months April 07 Angola
Arrendadora
Ocean Mexicana
PSV Far Scotia Maintenance work - Extended until July 07 Extension Mexico
Arrendadora
Ocean Mexicana
PSV Far Swift Maintenance work - Extended until July 07 Extension Mexico
DeepOcean PSV Normand Tonjer Construction support - Extended until March 07 Extension Egypt
Esso - Australia AHTS Lady Gerda Support Duties - 6 months + opts Jan 07 Australia
ExxonMobil AHTS Hebron Sea Extended 1 year until End 07 Extension Canada
Gazprom AHTS Boa Princess General support duties- Crica 3 months Jan 07 India
IEOC AHTS Bourbon Aladin Supporting JU GSF Adriatic X - Extended until June 07 Extension Egypt
Petrobras AHTS Far Sailor Support duties - Extended until May 09 Extension Brazil
Petrobras AHTS Far Senior Support duties - Extended until May 09 Extension Brazil
Petrobras AHTS Maersk Boulder General Duties - Extended until April 08 Extension Brazil
Petrobras AHTS Maersk Chieftain General Duties - Extended until June 07 Extension Brazil
Petrobras AHTS Maersk Handler General Duties - Extended until Feb 08 Extension Brazil
Petrobras AHTS Maersk Helper Production support - Extended until Dec 08 Extension Brazil
Petrobras AHTS Maersk Provider General Duties - Extended until Jan 08 Extension Brazil
Petrobras AHTS Maersk Retriever Exploration Support - Extended until Oct 08 Extension Brazil
Petrobras AHTS Maersk Rider Support duties - Extended until April 07 Extension Brazil
Petrobras PSV Maersk Vega Support duties - Extended until April 07 Extension Brazil
Reliance Industries PSV Lady Grete Support Duties - 3 years + opts June 07 India
Shell AHTS Tor Viking II Icebreaking & Rig Move duties - Circa 7 months May 07 Alaska
Shell AHTS Tor Viking II Icebreaking & Rig Move duties - Circa 7 months May 08 Alaska
Shell AHTS Tor Viking II Icebreaking & Rig Move duties - circa 7 months May 09 Alaska
Total / MLS AHTS Skandi Mogster All Duties - Extended until April 07 Extension Unknown
Outstanding Requirements
North Sea
Acergy 4-6 PSVs for Pipehaul duties Oct-08
Apache PSV 1 year + opt March-07
Asco/Talisman Supply duties 2 months firm + opts Feb-07
E.On Rurhgas PSV – 3 wells (Est 225-290 days) Mar-07
MLS AHTS for 2 years + opts Aug 08
13 Rubislaw Terrace
Aberdeen AB10 1XE
Telephone No +44 (0) 1224 628788
aberdeen@offshore-shipbrokers.co.uk
9 – 11 Folgate Street
London E1 6BX
Telephone No +44 (0) 207 3779774
london@offshore-shipbrokers.co.uk

Oilexco PSV – 1 year firm + opts March-07
Peak 2 x PSV’s – Circa 6 months June-07
Peterson PSV - 1 year + 2 x 1 yearly opts Feb-07
Saipem AHTS – 3 months + opts March-07
Saipem PSV – 3 months + opts March-07
Team PSV 1 – 3 years + opts June-07
Total PSV 1 year + opts April-07
Total Norway PSV – 3 years firm + 2 x 1 year opts Jan-08
Venture / BG PSV 1-2 years June-07
International
Energy Africa 3 x AHTS – 2 wells supporting Pride South Seas Feb 07 Namibia
ExxonMobil 2 x PSV’s – circa 6 months March 07 Angola
ONGC Up to 30 vessels, PSV's, AHTS & MSV's 1-5 years 2006-2008 India
Petrobras PSV – Circa 24 months April 07 Brazil
Petrobras PSV – Circa 24 months June 07 Brazil
Rana Diving DPII DSV with Helideck, 50t crane – 60days + opts April 07 Italy
Santos 2xAHTS supporting Ocean Patriot - 1 year + opts May-07 Austrailia
Saudi Aramco 24 AHTS – 5000bhp– 5 years firm Jan-July 07 Med
Shell Pakistan PSV – 1 well April 07 Pakistan
Total AHT 6000bhp, FiFi1 – 6 months firm + 36month opts Feb 07 Cameroon
Total MPSV, AHTS, PSV – Multiple periods & workroles June-07 Congo
ERRV VESSELS
The Standby market during January was once again busy with both spot and term availability
remaining tight. Rates for spot fixtures reached the £20,000 region as charterers continued to be
faced with a lack of available tonnage leaving owners virtually able to name their price. Looking
ahead however the market looks set to slacken slightly from March onwards with several vessels
returning from term charters and a number of Newbuld vessels scheduled to deliver as the year
progresses. Many of these newbuilds are set to replace older tonnage due for scrapping however
so this may not have a dramatic effect.
The first of the 07 deliveries, the Viking Offshore Services newbuild IMT955 class ERRV’s, Viking
Discovery is due for delivery from yard in Bilbao around the beginning of week 8. The vessel with
thereafter make for the North Sea arriving around the end of Feb and is currently uncommitted.
Fixtures
ADTI Dea Mariner Supporting GSF Arctic 2 – 60 days Feb 07
ADTI Dea Sailor Supporting GSF Arctic 2 – 10 months April 07
Apache Esvagt Don Extended until Jan 2009 Extension
Shell Grampian Prince Extended until End Dec 07 Extension
Statoil Stril Supporter 8 months + 4 x monthly opts Jan 07
Talisman Dea Fighter Extended 3-5 years from April 07 Extension
13 Rubislaw Terrace
Aberdeen AB10 1XE
Telephone No +44 (0) 1224 628788
aberdeen@offshore-shipbrokers.co.uk
9 – 11 Folgate Street
London E1 6BX
Telephone No +44 (0) 207 3779774
london@offshore-shipbrokers.co.uk

Outstanding Requirements
ADTI / Island ERRV for 3 wells + 1 well opt April 07
BP ERRV for 5years, 15 years or life of field Late 07
Chervron UK ERRV 95t Bp Supporting Alba – 5 years + opts March 08
Total 2 x ERRV’s 5 years + ops supporting Alwyn & Dunbar Dec 07
Venture ERRV 60 days + 60 daily opts April 07
SALE & PURCHASE / NEWBUILDING
Newbuildings
Pacific First Shipping has placed an order with the ABG Shipyard for nine AHTS. The order is for
five vessels with 82 tonnes bollard pull and four vessels of 180 tonnes bollard pull.
Marine Subsea Inc. has signed a contract with Ulstein Verft AS for a well intervention vessel of the
ULSTEIN SX121 design at a contract value of NOK 840 million with delivery in July 2009. It will be
120 x 25 metres wide and will have accommodation for 100 persons along with a tower for module
handling, a moonpool, ROV hangar, offshore crane and helipad.
TS Marine has placed an order for two MT6040 subsea vessels at Astilleros Huelva Spain at a cost
of GBP 130 million.
Secondhand
Harms Bergung owned Varius 7,230 bhp (AHT Blt.19 - 7230BHP) has been sold to a Greek Buyer
on private terms.
Harms Bergung has also sold its three recently delivered PSV's (2006) Aeolus, Cerberus, and
Centaurus to Nordcapital on private terms.
AHTS Boa King and Boa Queen (Blt.2001 - 17,000BHP) have been sold to Varun Shipping India
on private terms.
Mainport Ireland has purchased the Smit-Lloyd 32 (Blt.1984 - 4,500 bhp) from Seacor and
renamed the vessel Mainport Oak. The purchase is backed with a three-year charter to Petrobras.
13 Rubislaw Terrace
Aberdeen AB10 1XE
Telephone No +44 (0) 1224 628788
aberdeen@offshore-shipbrokers.co.uk
9 – 11 Folgate Street
London E1 6BX
Telephone No +44 (0) 207 3779774
london@offshore-shipbrokers.co.uk

Tel: +44 (0) 1224 628788
Fax: +44 (0) 1224 628782
aberdeen@offshore-shipbrokers.co.uk
www.offshore-shipbrokers.co.uk
North Sea Spot Rate Analysis January 2007
2007
2006
2005
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Avg £ £53,573
No. Fix 26
Avg £ £11,593 £19,550 £37,551 £41,482 £37,001 £54,161 £61,413 £75,717 £59,790 £76,652 £49,037 £104,778
No. Fix 28 28 19 28 49 34 44 54 32 61 24 21
Avg £ £32,177 £26,708 £25,108 £14,276 £31,677 £31,144 £17,166 £22,778 £29,237 £32,506 £18,777 £30,567
No. Fix 15 41 34 19 43 36 21 41 30 29 30 39
Yr Avg
£53,573
26
£54,878
422
£26,602
378
2007
2006
2005
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Avg £ £20,886
No. Fix 6
Avg £ £9,423 £8,504 £20,014 £25,970 £28,452 £17,875 £27,333 £- £- £19,250 £17,700 £14,232
No. Fix 9 5 2 12 7 4 3 - - 2 5 2
Avg £ £10,694 £9,560 £11,200 £9,307 £13,908 £20,941 £12,332 £10,000 £16,875 £- £- £15,128
No. Fix 7 7 10 12 15 2 6 1 4 - - 8
Yr Avg
£20,886
6
£19,355
51
£12,340
72

2007
2006
2005
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Avg £ £18,819
No. Fix 26
Avg £ £8,773 £11,659 £17,435 £25,085 £23,903 £25,294 £33,456 £39,095 £29,544 £13,212 £19,951 £38,508
No. Fix 34 41 39 21 26 15 9 12 17 19 19 21
Avg £ £18,943 £13,612 £12,141 £11,856 £24,085 £22,627 £15,407 £14,747 £17,113 £19,460 £9,538 £14,052
No. Fix 28 34 22 39 22 22 37 27 28 24 25 26
Yr Avg
£18,819
26
£20,862
273
£15,774
334
2007
2006
2005
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Avg £ £19,613
No. Fix 19
Avg £ £10,115 £11,984 £19,761 £27,959 £23,078 £26,878 £28,818 £- £27,824 £17,000 £20,450 £24,752
No. Fix 15 9 13 13 10 10 11 - 5 21 26 12
Avg £ £20,147 £15,717 £14,975 £12,547 £21,613 £20,371 £14,833 £15,344 £16,326 £22,605 £9,416 £14,269
No. Fix 24 23 31 22 20 19 9 16 30 19 30 14
Yr Avg
£19,613
19
£20,837
145
£16,284
257
Note:
1) "AHTS Semi Sub Rig Moves" includes all AHTS irrespective of size
2) Only fixtures where rates are reported can be analysed therefore the number of fixtures shown does not necessarily reflect
the total number of fixtures on the market.
3) Actual rates are believed to be correct but not guaranteed