Sale and purchase report - Offshore Shipbrokers
Sale and purchase report - Offshore Shipbrokers
Sale and purchase report - Offshore Shipbrokers
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SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011SALE AND PURCHASE REPORTWritten by James RabagliatiEmail: jrabagliati@offshore-shipbrokers.co.ukTel: +44 (207) 377 9774 . Mob: +44(0) 7585 667 826Disorder in the financial markets led to a slow-down in activity in the last three months after anencouraging 2 nd Quarter. However, we are still seeing more vessel movement in the market thanwas seen in 2010 <strong>and</strong> we expect this to continue due to the rise in construction work <strong>and</strong> theexp<strong>and</strong>ing offshore rig fleet.The growth of the deepwater rig fleet has resulted in a rise in price for larger newbuild PSV <strong>and</strong>AHTS orders as utilization for high specification units is set to increase due to oil companyrequirements for deepwater work.Dwindling opportunities for olderunits has seen their sales activity<strong>and</strong> prices continue to fall.The rig order boom <strong>and</strong> resultingcompetition between Far Easternyards struggling to maintaincompetitive margins in a tightmarket has led South Korean <strong>and</strong>Singaporean yards to explore otheravenues. They are showing anincreased interest in <strong>Offshore</strong> Wind projects as their full order books have left the door open forChinese yards to grab a significant part of the rig market. We are also seeing plans to exp<strong>and</strong> therenewables market elsewhere in the Far East – China is looking to have 30GW of offshore windpower by 2020 - <strong>and</strong> European companies with experience in North Sea renewables are keen tocapitalise on this increased activity.1
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011RigsIn spite of recurrent jitters over the world’seconomy, speculative newbuilding continuesapace. Of the rigs ordered in the last quarter,only the two Songa semis for long termcontracts offshore Norway with Statoil arebeing built on the back of firm drillingcontracts. Compared with previous quarters, amuch greater proportion of newbuilds, 60%,are specifically aimed at the North Sea.Prices for newbuild floaters are creeping up. Maersk’s 12,000 feet water depth capability drillshipsare costing $650 million each including a turnkey price from the shipyard, owner furnishedequipment, project management, start-up costs <strong>and</strong> capitalised interest. This is an increase ofapproximately 8% from a year ago, but still well short of the levels seen before the credit crunch <strong>and</strong>world recession.<strong>Sale</strong> <strong>and</strong> Purchase - RigsMonth Name Built Seller BuyerAugust GSF Britannia 1968 Transocean GSPAugust George H. Galloway 1984 Transocean GSPAugust Aker Spitsbergen 2009 Aker Drilling TransoceanAugust Aker Barents 2009 Aker Drilling TransoceanAugust 2x Daewoo Drillships 2013 Aker Drilling TransoceanSeptember B319 2012 St<strong>and</strong>ard Drilling UK BuyerSeptember GSF Adriatic XI 1983 Transocean Buccaneer Energy AustraliaSeptember Hercules 152 1980 Hercules <strong>Offshore</strong> Well ServicesSeptember Hercules 78 1983 Hercules <strong>Offshore</strong> Sold for ScrapSeptember West Atlas 2007 Keppel Fels Safin Gulf FZCO2
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011New Builds - RigsMonth Type Delivery Yard BuyerJuly 2x Samsung 12000 Drillships 2014 Samsung H.I., Korea Maersk DrillingJuly 1x KFELS B Class Jack Up N/A Keppel FELS, Singapore Asia <strong>Offshore</strong> DrillingJuly 2x GVA 400 NCS (+2 Options) 2014 Daewoo Shipbuilding, Korea Songa <strong>Offshore</strong>July 1x Super 116E 2014 Unknown VietsovPetroAugust 2x JU2000 (+3 Options) 2014 Shanghai Waigaoqiao, China TTS GroupAugust 2x F+G JU-3000N 2013 Jurong Shipyard, China Noble CorporationAugust 1x KFELS Super B Class 2013 Keppel FELS, Singapore TransoceanAugust 2x TADRs 2013 Kencana HL Sdn Bhd, Malaysia Marine Drilling Sdn BhdAugust 1x Gusto – P10000 2014 Hyundai H.I., Korea Noble Corporation3
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011AHTSNewbuild activity is still below PSVs as a result of theprevious order boom at the end of the last decade.We are still seeing a lot of movement in the Far East inmodern 5150BHP units.<strong>Sale</strong> <strong>and</strong> Purchase – AHTSMonth Name Built Seller BuyerJuly 8x L-Class AHTSs Various SMIT Transport Services LamnalcoJuly Swissco Supplier II 2009 Swissco Petrogreen Company Sdn BhdJuly Olympic America 1975 Singapore Star Sold for ScrapJuly Asso Ventidue 1999 Augusta <strong>Offshore</strong> Atlantic TowingJuly Sanko Dragon 2006 Sanko <strong>Offshore</strong> Huwei <strong>Offshore</strong>July Petra Admiral 2010 Petro Perdana Russian BuyersJuly Petra Majestic 2010 Petro Perdana Russian BuyersJuly Langery 1980 FEMCO Sold For ScrapJuly Crest Emerald 2007 Pacific Radiance SC <strong>Offshore</strong> ServicesJuly Maqdeem II 1983 Halul <strong>Offshore</strong> Industrial ToolsJuly Jaya Anchor 2010 Jaya Holdings PT Logindo SamudrakmurAugust A.H. Genova 1979 Finarge Minerva MaritimeAugust Pacific Scimitar 1982 Swire <strong>Offshore</strong> Top Fenders LtdAugust Go Rigel 2011 Otto Marine Go <strong>Offshore</strong>August Zamil Latifah 1982 Zamil <strong>Offshore</strong> Unknown BuyersAugust Omni Marissa 2011 Nam Cheong Omni GroupAugust CYK Falcon 2010 CYK <strong>Offshore</strong> Global Marine SystemsAugust MP Prelude 2011 Marco Polo PT Bina Buana RayaAugust MP Premier 2011 Marco Polo PT Bina Buana RayaAugust PFS Force 2010 Pacific First Shipping Tag <strong>Offshore</strong>August Stanford King 1979 Stanford Marine Green OceanAugust Zakher Star 2010 Zakher Marine Unknown BuyerSeptember Golfo De Bengala 1976 Boluda <strong>Offshore</strong> Hong Kong BuyersSeptember Augustea Quattro 1977 Augustea West African BuyersSeptember Garware I 1983 Garware <strong>Offshore</strong> Indian BuyerSeptember 61-TBP AHTS 2012 Nam Cheong Gulf Glory Marine4
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011September 2x 75m PSVs 2011/12 Nam Cheong Bumi Armada BerhadSeptember 2x MMC 887 2011/12 JB Ugl<strong>and</strong> TidewaterNew Builds – PSVsMonth Type Delivery Yard BuyerJuly 6x UT 776CD (+ 4 Options) N/A Liaohe Petroleum, China Blue Sea/ Cleaves MarineJuly 1x Keppel MTD 9045-DE 2013 KSMK, Brazil Guanabara NavegacaoJuly 2x UT 755XL 2013 Rosetti Marine, Italy Fratelli D’AmatoJuly 8x UT755 CD 2012-2013 Nam Cheong, Malaysia Speculative BuildAugust 1x Havyard 832CD N/A JSC Shipyard Zaliv, Ukraine Russian OwnersAugust 2x UT 776 CD 2012 STX OSV Brevik, Norway Isl<strong>and</strong> <strong>Offshore</strong>August 1x UT755 LC 2012 Pol<strong>and</strong>/Simek Unknown BuyersAugust 2x UT 735 SE 2013 Estaleiro Ilha S.A., Brazil Brazil SupplyAugust 3x LNG SV310DF N/A Singal International, USA Harvey GulfAugust 2x MMC 887CD 2013 Remontowa, Pol<strong>and</strong> GulfMark <strong>Offshore</strong>August 1x MMC 879CD 2013 Remontowa, Pol<strong>and</strong> GulfMark <strong>Offshore</strong>September 3x UT 735 E 2014 Eisa, Brazil BSCO NavegcacaoSeptember 3x UT 755 E 2014 Eisa, Brazil BSCO NavegcacaoSeptember 1x SPP 17 2013 Zhejiang Shipyard, China Bourbon <strong>Offshore</strong> SurfSeptember 1x VS485 Mk II 2012 Fjellstr<strong>and</strong> AS, Norway Norside Supply6
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011Subsea VesselsModern tonnage continued to attract Owners inhealthy quarter for new build vessels. We are seeing agrowing interest in vessels which are compliant withthe 2008 SPS Code.<strong>Sale</strong> <strong>and</strong> Purchase – Subsea VesselsMonth Name Built Seller BuyerJuly ROV Supporter 1972 Neptune Marine Deep Sea <strong>Offshore</strong>August SK Deep Sea 2011 Nam Cheong, Malaysia Malaysian Joint VentureAugust Oriental Star III 2011 Coastal Contracts, China Nigerian BuyersNew Builds – Subsea VesselsMonth Type Delivery Yard BuyerJuly 3x MSVs (+2 Options) N/A Liaohe Petroleum, China Blue Sea/Cleaves MarineJuly 2x ss-MPP Vessels N/A Yintai CIMC Raffles <strong>Offshore</strong> United Faith GroupAugust 4x 78m 3,600dwt MPSV N/A Colombo Dockyard, Sri Lanka Executive <strong>Offshore</strong>September OIG Giant III 2013 P+S Werften Shipyard, Germany <strong>Offshore</strong> Installation GroupSeptember OIG Giant IV 2013 P+S Werften Shipyard, Germany <strong>Offshore</strong> Installation GroupSeptember 2x Well Intervention Vessel 2013 STX Romania/Finl<strong>and</strong> Eide Marine ServicesSeptember 4x PSV/ROV Support Vessels 2013/14 Colombo Yard, Sri Lanka Adhard Shipping7
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011Pipe LayCable LayMiningCable lay Owners continue to look to capitalise on the growing renewables market in the North Sea.<strong>Sale</strong> <strong>and</strong> Purchase - Pipe Lay / Cable Lay / MiningMonth Name Built Seller BuyerJuly DLB Puterisime 786 2011 Sime Darby Tetra TechnologiesSeptember Acergy Falcon 1976 Subsea 7 GSP RomaniaNew Builds - Pipe Lay / Cable Lay / MiningMonth Type Delivery Yard BuyerSeptember 2x Pipelay/Heavy Lift Vessels 2013/2014 Cosco Nantong Shipyard, China SapuraCrest Petroleum9
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011TugsThis quarter was notable for the sale of the last ofITC’s S-Wind Tugs. Elsewhere, sales were rarewithout long term contracts in place.<strong>Sale</strong> <strong>and</strong> Purchase - TugsMonth Name Built Seller BuyerJuly 62x Tugs Various K-Sea Transportation Kirby CorporationJuly Challenger 1976 Seabulk Towing Tradewinds TowingJuly Sirocco 1976 ITC Arvina InternationalJuly 2x 5150 AHTs Various Berken Enterprises Mermaid MaritimeJuly 20 Tugs/Barge Various McNally Construction Weeks MarineJuly Sumatras 1977 ITC Industrial Transport LtdJuly Swissco Sky 2008 Swissco <strong>Offshore</strong> Wayneridge <strong>Offshore</strong>August Caitlin Ann 1961 K-Sea Transportation Donjon MarineAugust 3x ASD Tugs Various Brazilian Owner Wilson <strong>and</strong> SonsAugust Gladiator 1975 Crowley Marine Services Resolve MarineAugust Comm<strong>and</strong>er 1976 Crowley Marine Service Resolve MarineAugust Uran 1998 Ocean Team Unnamed BuyerSeptember Sea Foxtrot 2011 Damn Shipyard Sea ContractorsSeptember Scotsman 2007 Hans Schramm & Sohn SMS TowageSeptember Crest Orion 2009 AKN Marine Services Unnamed BuyerSeptember Tanunda 1971 Svitzer Australia South Sea TowageSeptember Wyambi 1976 Svitzer Australia South Sea TowageSeptember 1x 32m ASD Tug 2011 Yuexin Shipyard, China S. American BuyersSeptember OSG Seafarer 1971 Overseas Shipholding Group Nigerian BuyersSeptember OSG Livery 1971 Overseas Shipholding Group Nigerian Buyers10
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011New Builds - TugsMonth Type Delivery Yard BuyerJuly 2x 55TBP Tugs N/A Gr<strong>and</strong>weld Shipyard, UAE Abu Dhabi Ports CompanyAugust 2x Towing Tugs 2012 Marco Polo Shipyard, Batam Pelayaran Nasional Bina Buana RayAugust 1x Tug/Barge Vessels N/A Signal International, USA Kirby Ocean TransportSeptember 2x 2,500Dwt AHTs 2012 Fujian Southeast, China Nam CheongSeptember Raptor III / IV 2012 South China Shipyard Built on SpeculationSeptember 1x 262TBP Tugs 2013 Unknown China Ocean Engineering ServicesSeptember 2x ASD Tugs 2013 Great Lakes Shipyard, USA Caribbean TugzSeptember 2x ASD Tugs N/A Yuexin Shipyard, China Far Eastern BuyerSeptember1x Multi-purpose ASDTugN/A Yuexin Shipyard, China Far Eastern Buyer11
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011Crew BoatsSafety St<strong>and</strong>byUtility VesselsWe are seeing more interest in modern vessels as Owners look to renew their fleet. <strong>Sale</strong> <strong>and</strong><strong>purchase</strong> activity amongst older units remains sluggish because of a discrepancy betweenSellers <strong>and</strong> Buyers price expectation.<strong>Sale</strong> <strong>and</strong> Purchase - Crew Boats / Safety St<strong>and</strong>by / Utility VesselsMonth Name Built Seller BuyerJuly Express 16 1991 Miclyn Express Sri Lanka Shipping CompanyJuly Marsun Newbuild Crew Boat 2011 Marsun Shipyard Thai BuyersJuly 2x Damen FCS 3307 2011 Damen Shipyard Kenyan BuyersAugust Express 15 1991 Miclyn Express Unnamed BuyerNew Builds - Crew Boats / Safety St<strong>and</strong>by / Utility VesselsMonth Type Delivery Yard BuyerJuly 2x ERRVs 2012/2013 ASL Marine, Singapore Unnamed BuyerAugust Utility Work Boat 2012 RDM, Tasmania <strong>Offshore</strong> Unlimited GroupSeptember 3x 150 dwt Crewboats 2012 Arpoador, Brazil BSCO Navegcacao12
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011BargesTransportHeavy LiftThe Barge market remains relatively slow with few sales recorded. Despite this, yards in theFar East continue to build on speculation in the belief dem<strong>and</strong> will improve as constructionwork increases.<strong>Sale</strong> <strong>and</strong> Purchase - Barges / Transport / Heavy LiftMonth Name Built Seller BuyerJuly 58x Tank Barges Various K-Sea Transportation Partners Kirby CorporationJuly Lindo 3 1998 Lindo Industriservice Marine Construct Int.July Lindo 4 1998 Lindo Industriservice Marine Construct Int.July Lindo 5 2005 Lindo Industriservice Marine Construct Int.July Multrabarge II 1978 Multratug BV Ships & BoatsJuly Atlant Regine 1996 Atlantska Plovidba Chinese BuyerJuly Atlant Svenja 1996 Atlantska Plovidba Chinese BuyerJuly 2x 330 ft Barges N/A Unnamed Seller Miclyn ExpressJuly AMT Voyager 1976 AMT Industrial Transport LtdAugust 3x 300ft Barges 2011 Singapore Owners LamnalcoSeptember Zhen Hua 5 1976 Shanghai Zhenhua Sold for ScrapNew Builds - Barges / Transport / Heavy LiftMonth Type Delivery Yard BuyerJuly 1x 152m Heavy Lift Vessel 2013 Brodosplit, Croatia Jumbo ShippingJuly 2x Barges 2012 Coastal Contracts,MalaysiaUnnamed BuyerAugust 2x Deck Barges 2012 Marco Polo, Batam Pelayaran Nasional Bina Buana RaySeptember 8x Barges N/A Marco Polo, Batam Unnamed BuyerSeptember 12x Pontoons (+16 Options) 2012 Ganghua Shipyard, China Damen ShipyardsSeptember 1z 2,500DWT Floating Crane 2013 Shanghai Zhenhui, China ITLevelLimited13
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011FPSOsDespite a slower than expected year for FPSOs,the market is still confident about the future.We are seeing more conversion activity <strong>and</strong>orders for larger newbuild units are beingplaced.<strong>Sale</strong> <strong>and</strong> Purchase - FPSOMonth Name Built Seller BuyerJuly Deep Producer 1 1981 Drydocks World RamuniaJuly Knock Muir – Conversion to FPSO 1993 Fred Olsen Fred OlsenJuly Cossack Pioneer 1972 Woodside PetrofacJuly Jasmine Venture MV7 1976 Pearl Energy PetrofacAugustConcorde Spirit – Conversion toFPSO1989 SBM <strong>Offshore</strong> SBM <strong>Offshore</strong>September Ocean Legend – MOPU 1976/2001 Oceaneering Believed to be PetrofacSeptember Tenaga Empat – conversion to FSU 1981 MISC Berhad MISC BerhadSeptember Umbe – Conversion to FPSO 1997 Bumi Armada Berhad Bumi Armada BerhadNew Builds - FPSOMonth Type Delivery Yard BuyerJuly 1x FPSO 2014 Samsung H.I., Korea Teekay CorporationJuly 1x FPSO 2013 Daewoo H.I., Korea Total E&P AngolaJuly Processing/Living Platform 2013 Sembcorp Marine, Singapore PTTEP International14
SALE AND PURCHASE REPORTSeptember 2011QUARTERLY EDITION, 3 rd Qtr 2011RenewableWith the prospect of Round 3installations looming Owners areinvesting in new tonnage which cantake on the challenge of deepwaterinstallations. Currently there are 8Newbuild Jack Up installationvessels under construction in both the Middle <strong>and</strong> Far East, with delivery ranging fromQuarter 4 2011 through to Quarter 1 2013. As the Oil <strong>and</strong> Gas Markets begin to gainmomentum again in the North Sea, these Newbuild Jack Up Installation vessels capable ofworking at greater water depths will see an increased dem<strong>and</strong> as Oil & Gas installers goback to their primary activities of rig installation.New Builds - RenewableMonth Type Delivery Yard BuyerJuly 3x Windfarm Crew Vessels N/A Austal, Australia Turbine TransfersJuly 7x Windfarm Catamarans 2012/13 South Boats Cowes And Buckie, Australia Turbine TransfersAugust 1x Aluminium Workboat 2012 Alnmaritec, UK Rix Shipping CompanySeptember 2x 21m Catamarans N.A South-Boats Special Projects, UK Workships ContractorsAll details given in good faith but without guarantee.15
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