Heavy LIft Construction Vessel Seven Borealis
Discussion
Evening all,
I thought I'd ask here as quite a few folk either work offshore or are quite knowledgeable about shipping.
So I moved to Cyprus about four months ago and there is a fantastic variety of shipping in and out of Limassol or at anchor just off the coast. It's a forever changing scene apart from one ship, Seven Borealis.
It hasn't moved in at least four months and if marine traffic is right, its been there since the start of January! Over six months without working.
Is it down to a lack of work, too many vessels with a similar capability? Surely it must be costing thousands, if not millions to have had it laid up for so long? It's been built to an incredible spec, 5000T crane etc.
Anyone know why it's been laid up for so long and is it normal?
I thought I'd ask here as quite a few folk either work offshore or are quite knowledgeable about shipping.
So I moved to Cyprus about four months ago and there is a fantastic variety of shipping in and out of Limassol or at anchor just off the coast. It's a forever changing scene apart from one ship, Seven Borealis.
It hasn't moved in at least four months and if marine traffic is right, its been there since the start of January! Over six months without working.
Is it down to a lack of work, too many vessels with a similar capability? Surely it must be costing thousands, if not millions to have had it laid up for so long? It's been built to an incredible spec, 5000T crane etc.
Anyone know why it's been laid up for so long and is it normal?
Pffft, call that an HLV? THIS is an HLV:
I don't actually know the answer to your question. That vessel isn't that special though. There are quite a few vessels of that sort of size around, workload (therefore charge rates) is definitely down, she's perhaps is getting some mods or maintenance done although 6 months is quite a long time, I don't think the borealis is that old, 5 years tops.
I think the big HLV's are over in the GoM just now. Allseas are nearing completion of the Pioneering Spirit - 47,000 tonne lifting capacity!
I don't actually know the answer to your question. That vessel isn't that special though. There are quite a few vessels of that sort of size around, workload (therefore charge rates) is definitely down, she's perhaps is getting some mods or maintenance done although 6 months is quite a long time, I don't think the borealis is that old, 5 years tops.
I think the big HLV's are over in the GoM just now. Allseas are nearing completion of the Pioneering Spirit - 47,000 tonne lifting capacity!
HLV and DSVs (Dive Support Vessels) daily charges have substantially dropped.
Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
dukeboy749r said:
HLV and DSVs (Dive Support Vessels) daily charges have substantially dropped.
Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
DSV's going out for less than £100K now in the North Sea and since when has there ever been a 30 day minimum hire?? They are always doing little jobs here and there, less than a week sometimes when it comes to IRM work. I should know, I'm sat on one now on a (supposedly) 18 day job.Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
Martin4356111 said:
Evening all,
I thought I'd ask here as quite a few folk either work offshore or are quite knowledgeable about shipping.
So I moved to Cyprus about four months ago and there is a fantastic variety of shipping in and out of Limassol or at anchor just off the coast. It's a forever changing scene apart from one ship, Seven Borealis.
It hasn't moved in at least four months and if marine traffic is right, its been there since the start of January! Over six months without working.
Is it down to a lack of work, too many vessels with a similar capability? Surely it must be costing thousands, if not millions to have had it laid up for so long? It's been built to an incredible spec, 5000T crane etc.
Anyone know why it's been laid up for so long and is it normal?
Simple answer, is the lack of work. There are very few high value cap-ex projects right now and so the really big kit - a glut of it only very recently commissioned (>5yrs old) to serve the demands of ultra deep water exploration and production is now lying dormant.I thought I'd ask here as quite a few folk either work offshore or are quite knowledgeable about shipping.
So I moved to Cyprus about four months ago and there is a fantastic variety of shipping in and out of Limassol or at anchor just off the coast. It's a forever changing scene apart from one ship, Seven Borealis.
It hasn't moved in at least four months and if marine traffic is right, its been there since the start of January! Over six months without working.
Is it down to a lack of work, too many vessels with a similar capability? Surely it must be costing thousands, if not millions to have had it laid up for so long? It's been built to an incredible spec, 5000T crane etc.
Anyone know why it's been laid up for so long and is it normal?
Seemingly overnight, the major jobs were either canned or radically down-sized and as a result, the big contractors, particularly in the drilling and subsea sectors have been absolutely hammered. Plenty of the smaller players have gone bust after leveraging themselves to the b
ks on new builds in 2013; only for them to be sat doing nothing now. Look at the lengths the big guns are going to even: Technip and FMC have now joined forces; a move that would be laughed at two years ago (a very shrewd move IMO).It's a real shame to see big 'ol girls like the Borealis laid up. My last company recently used her for some installation work on a major installation project of the coast of west Africa. And hence, I suspect, one of the reasons she's laid up in Limassol is the lower berthing fees and reasonably strategic location).
And it's not an issue that will be resolved quickly, IMO. I expect we'll see at least another year of these doldrums and in the meantime, many more ships being laid up in the process.
cerbfan said:
dukeboy749r said:
HLV and DSVs (Dive Support Vessels) daily charges have substantially dropped.
Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
DSV's going out for less than £100K now in the North Sea and since when has there ever been a 30 day minimum hire?? They are always doing little jobs here and there, less than a week sometimes when it comes to IRM work. I should know, I'm sat on one now on a (supposedly) 18 day job.Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
Thing is, even in the good times £100k p/d for your average DSV would be ridiculously expensive out here in the middle east. Now admittedly, the spec requirements we have are lower (shallower water etc), but I fear the north sea hasn't had its reality check yet. A decent DSV here at the moment is about half that cost (for example). Indeed, we have a new build jackup that we've just commissioned which we're letting go for the sort of price that would barely even keep the lights on back in the North Sea.
And when we do all come out the other side of this down-turn, I think we'll see a real levelling of the playing field, with outfits from the far east especially, aggressively chasing work in the west with far lower overheads to weigh them down. It's going to be an interesting time. One thing I'm absolutely certain of, we won't see 2014 hire rates again for a very long time.
Lefty said:
Pffft, call that an HLV? THIS is an HLV:
I don't actually know the answer to your question. That vessel isn't that special though. There are quite a few vessels of that sort of size around, workload (therefore charge rates) is definitely down, she's perhaps is getting some mods or maintenance done although 6 months is quite a long time, I don't think the borealis is that old, 5 years tops.
I think the big HLV's are over in the GoM just now. Allseas are nearing completion of the Pioneering Spirit - 47,000 tonne lifting capacity!
Well, decommissioning is the one avenue of work that we'll see become more prevalent now, and hence, the demand for Ultra-HLVs is reasonably strong. Not really the news that the subsea installation contractors wanted to hear I don't actually know the answer to your question. That vessel isn't that special though. There are quite a few vessels of that sort of size around, workload (therefore charge rates) is definitely down, she's perhaps is getting some mods or maintenance done although 6 months is quite a long time, I don't think the borealis is that old, 5 years tops.
I think the big HLV's are over in the GoM just now. Allseas are nearing completion of the Pioneering Spirit - 47,000 tonne lifting capacity!
She's a big mamma, though:
There will be horizontal lifting beams at the bow. So she ballasts down, sails under the topsides, ballasts up with the lifting beams underneath the topside. Then you cut the legs and lift the topside using the lifting beams.
At the stern there will be a sort of tilting a-frame for jackets. There's a great animation video on Allseas website. I'll try to find it.
If you're googling remember she used to be called Pieter Schelte, until they remembered he was a nazi!
At the stern there will be a sort of tilting a-frame for jackets. There's a great animation video on Allseas website. I'll try to find it.
If you're googling remember she used to be called Pieter Schelte, until they remembered he was a nazi!
tenfour said:
cerbfan said:
dukeboy749r said:
HLV and DSVs (Dive Support Vessels) daily charges have substantially dropped.
Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
DSV's going out for less than £100K now in the North Sea and since when has there ever been a 30 day minimum hire?? They are always doing little jobs here and there, less than a week sometimes when it comes to IRM work. I should know, I'm sat on one now on a (supposedly) 18 day job.Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
Thing is, even in the good times £100k p/d for your average DSV would be ridiculously expensive out here in the middle east. Now admittedly, the spec requirements we have are lower (shallower water etc), but I fear the north sea hasn't had its reality check yet. A decent DSV here at the moment is about half that cost (for example). Indeed, we have a new build jackup that we've just commissioned which we're letting go for the sort of price that would barely even keep the lights on back in the North Sea.
And when we do all come out the other side of this down-turn, I think we'll see a real levelling of the playing field, with outfits from the far east especially, aggressively chasing work in the west with far lower overheads to weigh them down. It's going to be an interesting time. One thing I'm absolutely certain of, we won't see 2014 hire rates again for a very long time.
The one exception over here that is making some waves at the moment is Boskalis, apparently as they are also out with the RMT so can offer vessels for a good bit cheaper but even then I don't think they have had much work as Operators just don't feel comfortable with new players to the area and even existing ones who have been here for a long time Harkand / ISS have gone to the wall as they could not drum up enough work.
Personally I think we are at the bottom now with the DSV market and this Winter will be very quiet again but think things will start to pick up again next year and keep on rising from there as the massive reductions in capital expenditure start to hit home on world production figures and the oil price starts to rocket again.
Lefty said:
There will be horizontal lifting beams at the bow. So she ballasts down, sails under the topsides, ballasts up with the lifting beams underneath the topside. Then you cut the legs and lift the topside using the lifting beams.
At the stern there will be a sort of tilting a-frame for jackets. There's a great animation video on Allseas website. I'll try to find it.
If you're googling remember she used to be called Pieter Schelte, until they remembered he was a nazi!
Found it at the bottom of here thanks!At the stern there will be a sort of tilting a-frame for jackets. There's a great animation video on Allseas website. I'll try to find it.
If you're googling remember she used to be called Pieter Schelte, until they remembered he was a nazi!
http://www.bbc.co.uk/news/uk-scotland-scotland-bus...
cerbfan said:
tenfour said:
cerbfan said:
dukeboy749r said:
HLV and DSVs (Dive Support Vessels) daily charges have substantially dropped.
Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
DSV's going out for less than £100K now in the North Sea and since when has there ever been a 30 day minimum hire?? They are always doing little jobs here and there, less than a week sometimes when it comes to IRM work. I should know, I'm sat on one now on a (supposedly) 18 day job.Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
Thing is, even in the good times £100k p/d for your average DSV would be ridiculously expensive out here in the middle east. Now admittedly, the spec requirements we have are lower (shallower water etc), but I fear the north sea hasn't had its reality check yet. A decent DSV here at the moment is about half that cost (for example). Indeed, we have a new build jackup that we've just commissioned which we're letting go for the sort of price that would barely even keep the lights on back in the North Sea.
And when we do all come out the other side of this down-turn, I think we'll see a real levelling of the playing field, with outfits from the far east especially, aggressively chasing work in the west with far lower overheads to weigh them down. It's going to be an interesting time. One thing I'm absolutely certain of, we won't see 2014 hire rates again for a very long time.
The one exception over here that is making some waves at the moment is Boskalis, apparently as they are also out with the RMT so can offer vessels for a good bit cheaper but even then I don't think they have had much work as Operators just don't feel comfortable with new players to the area and even existing ones who have been here for a long time Harkand / ISS have gone to the wall as they could not drum up enough work.
Personally I think we are at the bottom now with the DSV market and this Winter will be very quiet again but think things will start to pick up again next year and keep on rising from there as the massive reductions in capital expenditure start to hit home on world production figures and the oil price starts to rocket again.
tenfour said:
cerbfan said:
tenfour said:
cerbfan said:
dukeboy749r said:
HLV and DSVs (Dive Support Vessels) daily charges have substantially dropped.
Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
DSV's going out for less than £100K now in the North Sea and since when has there ever been a 30 day minimum hire?? They are always doing little jobs here and there, less than a week sometimes when it comes to IRM work. I should know, I'm sat on one now on a (supposedly) 18 day job.Some DSVs were being charged out at £250k per day, min hire 30 days, same vessels now circa £100k per day, still 30 min hire.
Obviously with an upturn in O&G prices boats like this may once again be cost effective to hire.
Thing is, even in the good times £100k p/d for your average DSV would be ridiculously expensive out here in the middle east. Now admittedly, the spec requirements we have are lower (shallower water etc), but I fear the north sea hasn't had its reality check yet. A decent DSV here at the moment is about half that cost (for example). Indeed, we have a new build jackup that we've just commissioned which we're letting go for the sort of price that would barely even keep the lights on back in the North Sea.
And when we do all come out the other side of this down-turn, I think we'll see a real levelling of the playing field, with outfits from the far east especially, aggressively chasing work in the west with far lower overheads to weigh them down. It's going to be an interesting time. One thing I'm absolutely certain of, we won't see 2014 hire rates again for a very long time.
The one exception over here that is making some waves at the moment is Boskalis, apparently as they are also out with the RMT so can offer vessels for a good bit cheaper but even then I don't think they have had much work as Operators just don't feel comfortable with new players to the area and even existing ones who have been here for a long time Harkand / ISS have gone to the wall as they could not drum up enough work.
Personally I think we are at the bottom now with the DSV market and this Winter will be very quiet again but think things will start to pick up again next year and keep on rising from there as the massive reductions in capital expenditure start to hit home on world production figures and the oil price starts to rocket again.
Gassing Station | Boats, Planes & Trains | Top of Page | What's New | My Stuff