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Venkatraman Sheshashayee News

16 Oct 2017

Venkatraman Sheshashayee Resigns as CEO of Miclyn Express

Venkatraman Sheshashayee (Shesh), Chief Executive Officer of Miclyn Express Offshore (MEO), will relinquish his position at the end of March 2018. Shesh joined MEO in 2014. He was responsible for the promotion, development and extension of the business of the Group as well as the overall management of the Group’s operations. Shesh’s intention was to serve as CEO for three years and thereafter pursue non-business interests. In this regard, Shesh has confirmed that he will relinquish his position as CEO at the end of March 2018. The Board wishes to express its appreciation for the commendable leadership that Shesh has provided the Company during his tenure. The Board is actively seeking to appoint a successor.

30 Sep 2015

IRClass Sets up Advisory Committee in Singapore

The Indian Register of Shipping (IRClass) held the first meeting of its Advisory Committee in Singapore. The purpose of the committee, which draws members from Singapore’s leading maritime and offshore companies, is to give expert guidance to IRClass in strengthening its relationship with the Lion Republic’s maritime cluster and across South East Asia. “In our relatively short existence to date, we have gone some way beyond the simple provision of classification services,” he said. “Life begins at 40, they say,” he added. The committee discussed the aims and objectives of IRClass in Singapore and South East Asia, and advised IRClass to focus on educating the markets not only on its classification capability but the range of its portfolio of services.

11 Feb 2014

Jaya Delivers Vessel to Atlantic Towing

Offshore energy services provider, Jaya Holdings Limited, has delivered its second newbuild ice class anchor handling tug supply vessel to Canadian buyers, Atlantic Towing Limited. The 16,000-BHP vessel was delivered on February 7, 2014 in Singapore and was christened the Atlantic Merlin at a naming ceremony held earlier today. She was previously known as Jaya Sovereign until her delivery to Atlantic Towing. Atlantic Merlin is a sister ship of Atlantic Kestrel, which was delivered to Atlantic Towing in November 2012. Sheshashayee added, “This delivery begins another busy period for us and is the first of four new buildings for Jaya in 2014 and the other three ships will be operated in Jaya’s growing fleet.

18 Dec 2013

The Drawing Board: Innovative OSV Design from the Ground up

(Photo: Eastern Shipbuilding)

The offshore market continues to be a significant driver for marine innovation, as vessels and their operators are critical factors to ensure that offshore operations – increasingly conducted in deeper, more hostile waters further from shore – are conducted in a safe and efficient manner. Here Maritime Reporter examines some notable recent designs, developments and deliveries. Eastern Shipbuilding Group, which has been extremely busy of late in the offshore sector, delivered M/V HOS Red Rock (Hull 202) to Hornbeck Offshore Services, LLC.

31 Oct 2013

Jaya Reports 2013 Earnings

Offshore energy services provider, Jaya Holdings Limited has reported consolidated revenue of $29.6 million and net profit of $7.6 million for the financial quarter ended September 30, 2013. The group’s revenue for the quarter under review was $29.6 million. Excluding the vessel sale, the quarter’s revenue was 12% higher than the previous corresponding quarter. This was due to improved charter utilisation of 91% compared to 84% in the previous corresponding quarter, on the same fleet size of 28 vessels. The group’s net profit for 1Q FY2013 was $7.6 million. Excluding nonrecurring items and gain from a vessel sale, this quarter’s net profit was 15% higher than that of the previous corresponding quarter.

01 Oct 2013

New Jaya Multi-Purpose Platform Supply Vessel Delivered

MPSV Jaya Vigilant (Photo: Jaya)

Leading offshore energy services provider, Jaya Holdings Limited confirmed the on-time delivery of its second new Multi-Purpose Platform Supply Vessel (MPSV), Jaya Vigilant. She sailed from Jaya’s shipyard in Batam yesterday and was immediately on hire by its charterer for a term program in East Africa. The vessel will load a Remotely Operated Vessel (ROV) spread and mobilize across the Indian Ocean to load further subsea equipment for the client in Durban in October. “[Jaya Vigilant] has a 50 ton subsea crane with active heave compensation for service in water depths of up to 3…

14 Aug 2013

Jaya Reports $46.1 Million Full Year Net Profit

Jaya Valour (Photo: Jaya)

Jaya Holdings Limited reported consolidated revenue of $201.8 million and net profit of $46.1 million for the financial year ended 30 June 2013. The group’s total revenue for the financial year under review was $201.8 million, 145% higher than the previous financial year. The increase in the group’s revenue was due to increased vessel sales and improved charter utilization. The Offshore Support Services (OSS) Division’s higher revenue for the financial year under review was due to improved utilization of 80% compared to 70% a year ago.

06 Jun 2013

Jaya Wins $60 million in Long-term Charters

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.

27 May 2013

Singapore's Jaya Group Holds Seagoing Officers' Conference

Jaya Officers' Meeting New Delhi: Photo credit Jaya Group

The offshore vessel operator and builder, held its first ever officers’ conference in India, to be followed by similar gatherings in other countries. The inaugural event, at the Hyatt Hotel in New Delhi, was attended by more than 100 Merchant Navy officers and their spouses along with Jaya’s senior management led by Chief Executive Officer Venkatraman Sheshashayee, and the conference theme was 'Growing the role of the Indian seafarer with the Jaya Group as a global offshore vessel operator'.

07 Feb 2013

Jaya Delivers with Pride

Jaya Pride

Jaya Holdings Limited, operators of a Singapore offshore shipbuilding yard, has delivered a new state-of-the-art multi-purpose offshore support vessel Jaya Pride. Mr Sheshashayee paid tribute to his shipbuilding team for their dedicated professionalism and coordinated efforts completing the vessel on time and to extremely high standards of fit and finish. The 78-meter vessel, which can accommodate up to 148 passengers and crew, is classed by the American Bureau of Shipping (ABS) and will deliver under the Singapore flag.

29 Jan 2013

Meet the new IHC Packhorse OSV

IHC Merwede extended its product range with the introduction of a new series of IHC Packhorse offshore support vessels at an official launch event in Singapore, organized by IHC Asia Pacific, a subsidiary of IHC Merwede. This latest development reinforces the company’s internationalization strategy, which aims to provide a choice of designs and build locations to its customers on a global basis. The range of vessels consists of: the IHC Packhorse which has been positioned as a platform support vessel (PSV)…

16 Aug 2012

Singapore Offshore Company's Executive Appointment

Photo credit Jaya Holdings

Jaya Holdings appoints George Horsington as the company’s first President for Business Development. Jaya Holdings is a leading Offshore Energy Services Group, headquartered in Singapore. The Jaya Group provides a wide range of services and solutions to the offshore oil and gas E&P domain. Mr Horsington, 38, is set to join Jaya on September 6, 2012 after more than 10 years in various senior management positions with Swire Pacific Offshore Operations. The new position is an executive…

23 Jul 2012

IHC Merwede Signs Agreement with Jaya

IHC Asia Pacific, a subsidiary of IHC Merwede, has signed an agreement with Jaya Shipbuilding and Engineering Pte Ltd, which enables IHC Asia Pacific’s high-specification offshore vessels to be produced by Jaya at its yards in Singapore and Batam, Indonesia. As part of the wide-ranging terms, IHC Merwede will also provide engineering support services to Jaya. The agreement creates the opportunity for future cooperation between the two companies. It is compatible with Jaya’s strategy…

20 Jul 2012

Jaya, IHC Merwede Sign Agreement

Jaya Holdings Limited (“Jaya”) has announced that its wholly owned subsidiary, Jaya Shipbuilding and Engineering Pte Ltd has signed an agreement with IHC Merwede Asia Pacific which enables IHC’s high-specification offshore vessels to be produced by Jaya at its yards in Singapore and Batam, Indonesia. As part of the wide-ranging agreement, IHC Merwede will also provide design and engineering support services to Jaya. The agreement creates the opportunity for further collaboration between the companies in future, aligned with Jaya’s strategy of building sophisticated and modern offshore support vessels and IHC Merwede’s plans for further expansion of its integrated shipbuilding and equipment manufacturing operations in the region.

13 Jul 2012

Jaya Secures Contracts of Approximately US$84 Million

Jaya Holdings Limited (“JAYA”) has announced that it has, through its wholly owned subsidiary, Jaya Shipbuilding and Engineering Pte Ltd, secured ship building contracts of approximately US$84 million to deliver a 5,150 bhp Anchor Handling Tug and Supply Vessel (“AHTSV”) and a 16,000 bhp AHTSV. The 16,000 bhp AHTSV, one of the largest vessels to be built by JAYA, is constructed and designed for offshore support and is capable of oil rig towing, oil rig positioning and anchor handling, offshore oilfield supply, stand by rescue, and iceberg towing/ice management. The state of the art vessel is Ice Class 1A; giving it the ability to navigate in moderate level ice conditions and northern regions.