Jaya Wins $60 million in Long-term Charters

Thursday, June 06, 2013

Offshore energy services provider Jaya Holdings Ltd. announced that the Group has signed contracts for three of its four newbuild platform supply vessels (PSVs) ahead of their delivery dates from the shipyard. The total value of these three contracts is more than $60 million, including optional extension periods.

Jaya’s first high specification PSV Jaya Valour will deliver at the end of July and has been fixed into a time charter contract for up to three years in South East Asia with an existing customer undertaking fracturing work.

Jaya Valour has more than 1,000 square meters of clear deck space, fire fighting capability and dynamic positioning to DP-2 class. The vessel has accommodation for up to 60 people on board including workout equipment and an internet café.

The vessel has the capacity to carry up to 4,800 tons of cargo deadweight and her cargo capacities will be utilized in the carriage and pumping of brine and specialized fracturing proppants to stimulate production from offshore oil and gas wells.

Jaya Victory and Jaya Valiant are medium sized PSVs with 3,500 tons of cargo deadweight and 78m of length. Both vessels are equipped with DP-2 capability and Fire Fighting class. They will deliver in the first half of 2014 to a new client and are expected to operate primarily in Latin America. The charters are for up to three years.

CEO of Jaya Holdings, Venkatraman Sheshashayee said, “The PSV market is strengthening both in Asia and the rest of the world. Both the surge in deep water drilling and the need to stimulate production from older shallow water fields are increasing demand for high specification platform supply vessels. Our newbuilding designs maximize the flexibility our vessels offer to customers, with high cargo capacities for drilling fluids and bulk, big clear decks, and good quality accommodation for charterer personnel. This means they can provide both general platform and rig support, as well as more specialized services such as ROV and coil tubing work scopes.”

He added, “The charters for Jaya Victory and Valiant also mark our foray into the booming Latin American market and are very much in line with our market growth and geographical diversification strategies.”

The fourth vessel in Jaya’s PSV program, Jaya Vigilant, is an identical sister to Jaya Valour but with a 50 ton active heave compensated deep water crane built for service in more than 3,000 meters of water.

Mr. Sheshashayee added, "Jaya Vigilant will deliver from the yard at the end of August and will be ready for service with the brand new crane installed in September. There’s currently a backlog of underwater inspection and repair work in the region, and the vessel is perfect for ROV support. In addition, the ship is well suited to fracturing work like her sister, or for deep water drilling support contracts with DP rigs.”

Jaya has an additional two large anchor handlers delivering from its Singapore yard in the next 12 months, and three specialized subsea and accommodation workboats delivering from its Batam yard.

The Group owns and operates more than 25 offshore vessels working across South East Asia, the Middle East and West Africa on charter to both oil companies and offshore services companies.


Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Search for Ship Lost in Hurricane a Big Challenge

Deep seas may complicate efforts to find the sunken U.S. cargo ship lost off the Bahamas during Hurricane Joaquin, a federal safety investigator said, as a search

USCG Search for Missing Crew of El Faro

Coast Guard search and rescue crews continue searching for possible survivors from the cargo ship El Faro Monday night, covering a total search area of more than 160,574 square nautical miles.

Northern Fleet to Conduct Anti-terrorist Exercises

The sailors of the Northern Fleet will conduct anti-terrorism exercises at Novaya Zemlya. During the exercise, the coast will be a landing. The landing will


MECNW Appoints New CEO

Terry Weston has been confirmed as Chief Executive of Maritime and Engineering College North West (MECNW) following the retirement of his predecessor, Jim Teasdale, at the end of September.

MacGregor's Deck Machinery for Sentinel Marine ERRV

MacGregor, part of Cargotec, will supply deck machinery for a new 65m emergency rescue & response vessel (ERRV) for Sentinel Marine. The ship has been designed

Maersk to Install Inmarsat's Entertainment Service

The leading provider of global mobile satellite communications services, today announced that Maersk Tankers, the owner and operator of one of the world’s largest fleets of product tankers,


Towering Damen Marine Components Hits 150‏

Damen Marine Components (DMC), the oldest company in Damen Shipyards Group, celebrates its 150th anniversary today. DMC has grown from a very small shipyard established in Gorinchem in 1865,

Azerbaijan to Get New Passenger Vessel This Year-end

Azerbaijan Caspian Shipping Company  expects to get the first of the three passenger vessels being built currently at the Baku Shipbuilding & Repair Plant (Baku Shipyard LLC) until the end of 2015,

Michelle Obama to Christen Navy's Newest Submarine

U.S. First Lady Michelle Obama will join builder General Dynamics Electric Boat, a wholly owned subsidiary of General Dynamics, in christening Illinois (SSN-786), the U.


Stiff Competition for Cosco Pacific in Mediterranean

Although Cosco Pacific, the Hong Kong-listed subsidiary of China’s biggest shipping company China Cosc,  is expanding in the Mediterranean area after taking part

LNG Tanker Smash Sinks Cargo Ship

The 2002-built, 8,850-dwt freighter Flinterstar is owned by Dutch shipping firm Flinter has sank after colliding nearly head on with the Marshall Islands-flagged

Weak Capesize Rates Depress Baltic Index

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Tuesday on weak demand for capesize vessels. The overall index,

Offshore Energy

MacGregor's Deck Machinery for Sentinel Marine ERRV

MacGregor, part of Cargotec, will supply deck machinery for a new 65m emergency rescue & response vessel (ERRV) for Sentinel Marine. The ship has been designed

Finland Scraps LNG Terminal Plan

Finnish gas utility Gasum has abandoned its plans to build the Finngulf liquefied natural gas  (LNG) import terminal in Finland with an offshore pipeline connection

Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2090 sec (5 req/sec)