Consolidation – A Path to Subsea Vessel Sustainability
In recent years, the speed with which newbuild vessels have entered the market has amplified the subsea vessel demand/supply imbalance, says a report by Douglas-Westwood London. This has been further exacerbated by sustained low oil prices, as operators defer the sanctioning of new offshore projects which could have supported vessel utilisation. As a result, the average vessel dayrates declined by an average of 35% between 2014 and 2016. The weak market conditions have meant that many low specification vessels have struggled to hold on to existing charter rates, whilst some contracts were cancelled entirely. Furthermore, several high specification vessels have been forced to offer significantly lower day rates so as to stay competitive in such challenging times.
DOF Subsea, Seaway Extend Contract
DOF Subsea, provider of integrated subsea solutions, has been awarded a Master Service Agreement (MSA) extension with Seaway Heavy Lifting for the provision of positioning services onboard its Stanislav Yudin and Oleg Strashnov crane vessels. DOF Subsea offers services to third parties across the globe through its survey and positioning division. The contract with Seaway Heavy Lifting was announced in January 2014 and has been extended for a further two years plus options. Giovanni Corbetta…
DOF Subsea Charters New Vessel for the North Sea
DOF Subsea, a provider of integrated subsea solutions, has chartered a new multipurpose vessel to assist in North Sea operations. The company has entered into a long-term charter agreement with Reach Subsea for the newbuild construction support vessel (CSV) Normand Reach. DOF Subsea has signed a two-year contract with Reach Subsea with two one-year extension options. The Normand Reach is due to be delivered before the end of May 2014 and will replace DOF Subsea’s existing Skandi Bergen vessel for high-end construction projects.
New Managing Director Joins DOF Subsea UK
An experienced figure in the subsea sector has been appointed Managing Director of DOF Subsea UK. Giovanni Corbetta, who was most recently Managing Director with Hallin Marine, will lead the company’s transformation from vessel operator to provider of integrated subsea solutions for the market from its headquarters in Aberdeen. In total, Giovanni has more than 22 years of experience in the subsea sector and has also worked with major companies including Sonsub and Saipem. His expertise encompasses areas such as international project management…
Subsea Services New J/V: FMC Partners Edison Chouest
FMC Technologies and Edison Chouest Offshore team up in subsea services joint venture with new base in Houston, Texas. Utilizing the subsea technologies, tooling and expertise of FMC Technologies, and the vessel, port logistics and ROV operations of Edison Chouest Offshore, the new company intends to provide integrated vessel-based subsea services for offshore oil and gas fields globally. Services to be offered by the joint venture include equipment intervention, riserless light well intervention, plug and abandonment and other services. The company's objective is to provide cost-effective solutions to enhance the customer's ability to initiate…
GE Launches VetcoGray SVXT S-Series Subsea Tree
GE Oil & Gas has launched the new VetcoGray S-Series SVXT subsea tree at the Offshore Europe Oil & Gas Conference and Exhibition, being held from 8-11 September 2009 in Aberdeen, Scotland. The new VetcoGray S-Series SVXT subsea tree merges horizontal and vertical tree technology, reducing weight by 20%, decreasing height, and also delivering essential functionality in a pre-engineered, pre-configured 'modular' way. Low-cost installation of the new SVXT is achieved through a design that enables deployment using standard offshore jack-up drilling rigs without the need for major modifications.
