DOF Secures Multiple Subsea Service Contracts in Asia Pacific
Offshore vessel operator DOF Group has secured three subsea service contracts, valued over $36 million, from Australian-based operators.The contracts will employ construction support vessel (CSV) Skandi Hercules, adding approximately six months of utilization in 2024 and into the first quarter 2025.The contracted scope includes the team’s inhouse capability to deliver project management and engineering, logistics support and execution of various remediation activities, pre-commissioning and commissioning support, and field decommissioning operations.Mons Aase, DOF Group’s CEO, said: “These awa
DOF Charters Jones Act-compliant Vessel for Work in the Gulf of Mexico
DOF Group announced it has struck a deal to charter a Jones Act-compliant offshore support vessel (OSV) for work in the U.S. Gulf of Mexico.The Norwegian-based company said it is time chartering Bordelon Marine's ultra light intervention vessel Connor Bordelon for a one-year period starting in March 2024. The deal includes an option for an additional year.Built by Bordelon Marine Shipbuilders in 2013, the 257-foot-long DP2 vessel is equipped with a SMST 60-ton active heave compensated (AHC) crane with 3,000 meters water depth capabilities.
DOF Subsea Bags APAC Contracts
Norway-based international subsea operating company DOF Subsea announced several contract-awards in the Asia Pacific region, securing 130 days vessel and resource utilization into the first quarter of 2020. The contracts, for undisclosed clients in New Zealand and South East Asia, will see Skandi Hercules commence operations in December 2019 for a major operator, said the company which provides integrated project managed and engineered subsea solutions to the global offshore oil and gas industry.Additionally, Skandi Singapore will commence construction operations in early January 2020 in South East Asia.In a statement Mons Aase, CEO DOF Subsea, said, "These are important awards for us securing good utilization for our vessel and resources in the Asia Pacific Region.
DOF Bags Subsea Contracts
DOF Subsea has been awarded several contracts securing utilisation of personnel and vessels in the Subsea IMR Projects segment. DOF Subsea has been awarded a contract in the Atlantic region by MHI Vestas Offshore Wind for the Skandi Constructor. The contract will commence at the end of Q3 and secures utilisation until the end of 2018. The Asia Pacific region has been awarded several contracts securing ROV and diving work for Skandi Singapore through Q4 2018 for several clients in the Asia Pacific region.A month ago, Petrobras has awarded DOF Subsea Brasil a contract for utilization of the Brazilian built OSV vessel Skandi Salvador. The 650 days firm contract (plus 650 days extension by mutual agreement) will commence in July. Skandi Salvador is currently working for Shell Brasil.
OSV Scrapping Rates Up 153% YTD
As the severity of the offshore energy downturn has increased and the likelihood of older vessels returning to work begins to diminish, owners have slowly come round to the importance of scrapping these vessels. According to VesselsValue, U.S. owners might be leading the way.According to VesselsValue, an online valuation and market intelligence service for the maritime and offshore sectors, in this current period of downturn, critics of offshore shipowners will say that owners have been guilty of not scrapping older tonnage in order to maintain a young and advanced fleet.
Norway's DOF: OSV Market Improving
The cost of renting offshore supply vessels (OSVs), servicing oil and gas firms, will continue to rise as many ships that were mothballed up during the downturn will not return to the market, the chief executive of Norway's DOF said on Wednesday. A number of offshore vessel companies went bankrupt after oil prices plunged between 2014 and 2016, or were forced to merge with competitors to survive as oil companies cut spending for exploration and new developments. But the rates for hiring specialized vessels, which include platform supply (PSV), diving support (DSV) and anchor-handling vessels (AHTS), have increased in the last year. While the North Sea has been leading the increase in demand for OSVs…
DOF Wins Petrobras Contract
Norwegian offshore service company DOF has been awarded a charter contract by Brazilian energy major Petrobras for its pipe-laying support vessel Skandi Vitória. The contract will commence in January for 532 days. The vessel is owned through a joint venture with Technip. Skandi Vitoria is the first pipe-lay vessel built in Brazil, equipped with vertical and horizontal pipe-lay systems, a 250 mt crane and 2 ROVs. The vessel is capable of operating in water depths up to 3,000 meters. Mons Aase, CEO of DOF, said that the contract “confirms the DOF Group’s strong position in the South America region.” In January, DOF was awarded a three-year firm contract by Total Austral in Argentina for anchor handling tug supply vessel Skandi Pacific.
DOF Prepares for Weak Oil Service Market
Oil services firm DOF on Friday forecast 2016 earnings before interest taxes and depreciation (EBITDA) in the range of 2.9-3.3 billion crowns compared to 3.36 billion in 2015. "I hope we can be somewhere in the middle, depending on currency and how we are able to find new work for our boats," Chief Executive Officer Mons Aase said when presenting the firm's fourth quarter earnings. DOF is expecting some difficult years ahead though, as oil firms slash investments and cut costs in the waker of sharply lower crude prices.
