supply & tug supply boat market report - november 2010.pdf

Marcon International, Inc. Vessels and Barges for Sale or Charter Worldwide

www.marcon.com

Details believed correct, not guaranteed. Offered subject to prior sale or charter.

P.O. Box 1170 9 NW Front Street, Suite 201 Coupeville, WA 98239 U.S.A. Telephone (360) 678 8880 Fax (360) 678-8890 E Mail: [email protected] http://www.marcon.com November 2010

Supply & Tug Supply Boat Market Report Following is a breakdown of available supply and tug supply vessels we currently have as shipbrokers officially listed for sale worldwide. Not included are those available on a private and confidential basis.

Tug Supply Boats

Up Since Last Report Down Since Last Report

Market Overview Of 10,600 vessels and 3,682 barges tracked by Marcon, 2,490 are supply and tug supply boats. Tug supply boats officially on the market for sale have increased from 180 to 221 vessels over the one year period since November 2009, and is up 8.9%,or 18 vessels from August 2010. At the time of this report, 59 tug supply boats for sale were either built within the last 10 years or are newbuilding re-sales. 62.9% of the tug supply boats are 25 years of age or over. Counter-balancing these “old ladies” are 30 newbuilding resales, in the 3 – 12,000BHP range, scheduled for delivery in 2010 and 2011. Other vessels not officially on the market may be able to be developed on a private and confidential basis. 57.27% of foreign and 100% of U.S. flag supply / tug supply boats we have officially listed for sale are direct from Owners. So far in 2010, actual sales price of all vessels and barges sold by Marcon has averaged 86.31%. 2009’s average sales price to asking price was 93.12%.

Under

3,000HP

3,000 –

4,000HP

4,000 –

5,000HP

5,000 –

6,000HP

6,000 –

7,000HP

7,000 –

8,000HP

8,000 –

9,000HP

9,000 –

10,000HP

10,000 –

12,000HP

12,000HP

Plus Total

Feb 1997 12 26 19 19 8 14 9 0 2 2 110

Jan 1998 8 20 7 11 6 8 3 0 0 4 67

Jan 1999 5 20 9 9 4 5 5 0 0 2 59

Jan 2000 5 20 14 10 8 15 8 0 0 2 82

Jan 2002 7 18 15 10 7 19 8 1 2 2 89

Jan 2003 9 15 15 6 6 13 5 3 1 3 76

Jan 2004 5 13 8 9 6 10 7 2 8 14 82

Jan 2005 10 13 13 26 9 11 6 3 3 14 108

Jan 2006 8 22 18 13 6 7 5 4 2 10 95

Jan 2007 8 18 7 17 8 8 6 3 2 10 87

Jan 2008 3 21 8 17 8 8 1 0 3 13 82

Oct 2008 2 18 12 17 12 5 6 0 2 13 87

Jan 2009 3 17 14 19 11 8 8 2 4 16 102

Apr 2009 5 22 13 25 11 10 11 4 6 17 124

Aug 2009 5 23 19 28 12 13 15 5 7 20 147

Nov 2009 5 26 21 48 14 15 16 6 9 20 180

Feb 2010 5 25 22 47 15 16 18 6 12 1 167

May 2010 6 33 26 41 15 20 18 6 7 22 194

Aug 2010 5 31 31 38 20 18 20 8 8 24 203

Nov 2010 - Worldwide 5 31 35 40 21 18 26 9 9 27 221

Nov 2010 - U.S. 0 3 1 0 1 1 1 0 0 0 7

Nov 2010 – Foreign 5 28 34 40 20 17 25 9 9 27 214

Avg. Age Worldwide 1978 1979 1993 1995 1985 1983 1989 1984 1989 1993

Avg. Age U.S. - 1979 1983 - 1982 1975 1975 - - -

Avg. Age Foreign 1978 1979 1993 1995 1986 1983 1989 1984 1989 1993

For Charter Worldwide 6 7 17 40 8 14 15 5 26 19 157

For Charter U.S. 0 0 0 2 0 1 0 0 0 0 3

For Charter Foreign 6 7 17 38 8 13 15 5 26 19 154

Marcon International, Inc. Supply Vessel Market Report – November 2010

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The number of platform supply boats for sale increased 46.1% from 115 to 168 since November of last year. There was a 32 vessel increase in supply boats on the sales market since our last report in August 2010. As of the time of this latest report, Marcon international has available 23 supply boats built within the last ten years, which includes 11 newbuilding re-sales scheduled for delivery in 2010 and 2011. 126 PSVs, or 75.0%, are 25 years of age or older, with the oldest PSV listed built in 1967.

Platform Supply Boats

Under 150 – 160 – 170 – 180 – 190 – 200 - 220 – 240’

150’* 160’ 170’ 180’ 190’ 200’ 220’* 240’* Plus Total

Feb 1997 7 1 5 7 13 8 6 29

Jan 1998 2 1 7 5 5 0 5 25

Jan 1999 2 2 6 5 7 3 6 31

Jan 2000 2 3 13 12 17 4 9 60

Mar 2001 4 5 16 12 16 3 3 59

Jan 2002 2 6 17 12 17 2 5 61

Jan 2003 4 7 20 16 22 5 5 79

Jan 2004 2 7 13 10 32 7 19 90

Jan 2005 2 6 15 9 67 16 8 5 4 132

Jan 2006 5 3 12 7 60 9 7 6 6 115

Jan 2007 6 1 8 5 29 6 3 8 4 70

Jan 2008 2 2 7 5 23 3 4 1 4 51

Oct 2008 3 0 5 4 29 7 4 1 3 56

Jan 2009 3 5 6 6 32 7 6 2 5 72

Apr 2009 3 5 7 7 22 5 6 8 7 70

Aug 2009 3 5 11 10 29 10 8 13 9 98

Nov 2009 2 3 12 11 36 11 8 21 11 115

Feb 2010 3 3 13 12 35 12 5 19 15 117

May 2010 5 4 14 12 36 13 5 18 14 121

Aug 2010 4 4 12 11 46 16 10 20 13 136

Nov 2010 – Worldwide 4 5 14 11 54 20 16 23 21 168

Nov 2010 - U.S. 0 4 6 2 18 1 3 10 1 45

Nov 2010 – Foreign 4 1 8 9 36 19 13 13 20 123

Avg. Age Worldwide 1987 1993 1977 1980 1980 1982 1987 1990 1996

Avg. Age U.S. - 1988 1978 1983 1978 1998 1991 1985 2010

Avg. Age Foreign 1987 2010 1977 1979 1980 1981 1987 1994 1995

For Charter Worldwide 4 4 8 6 15 5 10 6 23 81

For Charter U.S. 0 0 0 2 5 0 5 0 0 12

For Charter Foreign 4 4 8 4 10 5 5 6 23 69

Up Since Last Report Down Since Last Report


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Southeast Asia has edged out the USA as the dominant location for second hand tonnage on the market, with 23.4% vs. 15.2% of the vessels for sale. Far East, Mid East and Africa combined make up 34.2% of the market. The rest of the globe makes up the final 27.2% of locations. EMDs are the principal main engine suppliers to this sector and power 79 of the Supply & Tug Supply Vessels listed for sale, followed by CATs in 64. GM powers 26 vessels and Cummins in 14. MaK leads the foreign manufacturers with 31, then 21 Wartsila, 17 Bergen, 16 Yanmar, 15 Niigata, 12 each Deutz and Nohab, and 65 units powered by other various engines. In addition to those for sale, Marcon has 238 straight supply and tug supply vessels listed for charter worldwide, up 21 from August 2010. Marcon Sales News The 65.65m x 14.05m, Dutch flagged, multi-purpose construction, dive and ROV support vessel “Noordhoek Singapore” (ex- Serviceman, Smit Marlin, Smit-Lloyd 61) was sold by Noordhoek Offshore BV of Zierikzee, The Netherlands to Nigerian buyers. Marcon had previously brokered the purchase of the vessel to Noordhoek in 2000. Originally built in 1977 by Scheepswerf “De Wall” BV of The Netherlands as the “Smit-Lloyd 61” for Smit

Nederland BV, the vessel is powered by a pair of Bolnes 14VDN150/600 2-stroke diesels producing a total of 4,200BHP to 2.5m diameter CP props in kort nozzles. After purchasing, Noordhoek converted the vessel in 2001 to her current trade as a DP-2 support vessel in the North Sea. Maneuverability was enhanced with a Kongsberg SDP-21 dynamic positioning system, her linked Becker rudders, 260kW tunnel bow thruster, 735kW retractable azimuthing thruster and 260kW aft mounted tunnel thruster. The dive system, complete with an air, mixed gas dive station and TUP dive system, included one 1800 and one 2100 triple lock decompression chamber, a dive control room, two hydraulically operated dive “A”-frames complete with wet bell basket and a third “A” frame for either a tool basket or ROV

handling. “Noordhoek Singapore” can accommodate 14 crew and 22 passengers in 19 fully air conditioned quarters. Deck gear consisted of a Kenz 25 tonnes telescoping crane, plus she also could be fitted with an optional four-point mooring system and 100 tonnes “A” frame. With all these features and her excellent station-keeping capabilities the “Noordhoek Singapore” performed a wide range of roles in the offshore industry well. When the new generation, purpose-built, DP-2 saturation vessels “Noordhoek Constructor” (76m) and “Noordhoek Pathfinder” (62m) joined the fleet, the “Noordhoek Singapore” became surplus and was put on the market. The new Owners have renamed the vessel “Singapore Explorer” and scheduled her to promptly start work in the Nigerian offshore oilfields as platform maintenance and inspection vessel. “Singapore Explorer” now is 33 years old and only seems to show her age through the design of the vessel. She was in very good condition at the time of the sale and hopefully will serve her new Owners well for many years into the future. Marcon acted as sole broker in the sale.

Platform & Tug Supply Boats - Engine Types

EMD21.2%

Other17.5%

CAT17.2%

MAK8.3%

GM7.0%

Bergen4.6%

Yanmar4.3%

Nohab3.2%

Deutz3.2%

Cummins3.8%

Niigata4.0%

Wartsila5.6%


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Crude Oil Prices

US$ Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10

WTI - Cushing, Oklahoma $84.29 $73.74 $75.34 $76.32 $76.60 $75.24 $81.89 $84.25

Brent - Europe $84.82 $75.95 $74.76 $75.58 $77.04 $77.84 $82.66 $85.27

Source: Energy Information Administration, Office of Oil and Gas.

Natural Gas Est. Average Wellhead Prices

Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10

Price ($ per Mcf) $3.92 $4.04 $4.25 $4.36 $4.22 $3.76 $3.69 $3.34

Price ($ per MMBtu) $3.81 $3.93 $4.13 $4.24 $4.10 $3.65 $3.59 $3.25

Source: Energy Information Administration, Office of Oil and Gas.

Worldwide Sale & Purchase News

After weeks of legal wrangling it appears that PACC Offshore Services Holdings Pte Ltd of Singapore, is to become the new owner of the “Trico Mystic” and “Trico Moon”. The sale price is $31.28m for the pair. The Bankruptcy Court conducting the Trico Bankruptcy has granted the sale and the vessels are due to change hands sometime before the end of December, assuming that the buyers are able to perform. The sale comes after Trico’s creditors forced Trico to hold an auction for the vessels after two initial bids were received and that Trico had

entered into a Heads of Agreement with Tidewater whom posted the lower bid. The “Trico Mystic”, which is currently on contract with Petrobras, will have its contract assigned to the Buyers. The “Trico Moon”, we understand, is charter free in Mexico. The 2,350 dwt “Trico Moon” and “Trico Mystic” are US-flag ships delivered in 2008 from Bender Shipbuilding in Alabama. Norwegian owners Siem Offshore have announced that they have agreed to sell their VS 470 Mk II design PSV “Siem Mollie” to Asian buyers. The agreed sale price has been disclosed as $32m and will book Siem a gain on the sale of $6m which will be applied to debt reduction and working capital. Delivery was set for December 2010. The vessel was built at Aker Aukra in 2007 and measures 73.4m x 16.6 x 7.6m, carries 1,600T on deck and is notated DP II. The vessel is powered by twin CAT 3606 engines and produces 5500bhp.

The AHTS “Seapower” was sold by Gulfmark Offshore to unknown buyers for $380,000. It had been working in South America. The vessel was built in 1975 at Teraoka SY; Japan as the “Weatherly” for $3.5m and was acquired by GulfMark back in 1992 for $1.355m. The vessel measures 216.0' x 42.0' x 19.0' depth x 15.75' loaded draft was classed ABS +A1 and ice strengthened. Capacities included a 2,200T deadweight, deck cargo capacity of 500T on a 113.2' x 30.2 clear deck'; 166,000g fuel, 34,000g fresh water, 199,000g drill water and 4,500ft3 drybulk. “Seapower” is propelled by twin Polar Nohab F216VS diesels producing over 7,000BHP through twin controllable pitch propellers, creating about 80T of bollard pull. Deck machinery included a Smatco 118HAW350 winch with 150T linepull.


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Recently T&T Bisso Salvage (Asia) took delivery of the former oil field supply vessel “Puma Tide” from Tidewater, which will be upgraded during

the coming weeks at the PT Worldwide Equipment yard in Batam to a multi purpose salvage support vessel. The vessel, renamed “TTB SALVOR”, will be equipped with a large crane, FiFi units, oil spill equipment and other state-of-the-art emergency response - salvage equipment. Originally built in 1983 at Southern Ocean Ship in Singapore the vessel’s dimensions are 162’ x 39.4’ and she is powered by twin Yanmar Z280ETs with a total of 3,600BHP.

Tidewater Marine purchased five DP-2 AHTS vessels from Japanese owners, The Sanko Steamship Company. Tidewater has already renamed the vessels “Chaisson Tide” (ex Sanko Clover), “Al Harthy Tide” (ex Sanko Cosmos - pictured), “Boudreaux Tide” (ex Sanko Camellia), “Mansour Tide” (ex Sanko Crocus) and “Richard Tide” (ex Sanko Cherry). The vessels were built in 2009 at Niigata in Japan, with the exception of the ex “Sanko Camellia” and ex “Sanko Cherry” which were built in 2010. All are powered by twin Wartsila 7L32 main engines creating 9,500BHP at 750RPM. It was reported that each vessel cost Tidewater $25 million.

In September, Dubai based Topaz Energy and Marine acquired the MSV “Boa Rover” from Norwegian owners, Boa Group for $45 million. The vessel was built in 2001 by Aker Norway. Measuring 92.5m x 19m, the DP2 vessel is powered by four Bergen KRGB9 engines producing a total of 11,400BHP; and comes fitted with twin rear ABB azipods, two tunnel thrusters and one retractable bow thruster. Classed by DnV, the vessel is a UT 745-E design and comes equipped with a Super Puma Helideck, 100MT Norlift crane and an 8m x 8.2m moon pool. “Boa Rover” has accommodations for 146 persons.

Chuan Hup Offshore entered into a Memorandum of Agreement with PT Bahtera Nusantara Indonesia, a joint venture company between their wholly-owned subsidiary, Venture Offshore, and PT Bahtera Niaga International. PT Bahtera Nusantara Indonesia will reportedly buy “Pearl”, a 2008-built 12,240BHP AHTS for US$30 million. Venture Offshore has a 49% interest in the buyer, while PT Bahtera Niaga International holds the remaining 51% interest. As the net book value of the vessel at 30 June 2010 is US$23.76 million, the group is expected to realize a gain of US$3.18 million. CH Offshore says the proceeds of the disposal will be used for capital expenditure and working capital purposes. Delivery is expected between 1st December and 30th April 2011.


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Also the Board of Directors of CH Offshore Ltd announced that the Company has entered into another memorandum of agreement with PT Bahtera Nusantara Indonesia, a joint venture company between the Company’s wholly-owned subsidiary, Venture Offshore Pte. Ltd. (VOPL) and PT Bahtera Niaga International, to dispose one of the Company’s vessel, for an aggregate consideration of US$9.75 million, the “Amber”, a 2005-built 4,826BHP anchor-handling tug

supply vessel which is registered in the ownership of the Company under the laws and flag of Singapore. VOPL has a 49% interest in the Buyer, while PT Bahtera Niaga International holds the remaining 51% interest. Rem Offshore of Norway acquired a UT755LN from Drydocks World in Batam. The vessel was due for delivery in September 2010 and will be named “Rem Supplier”. We understand that the vessel, originally the “Hellespont Deity”, was cancelled by Hellespont earlier this year. The price is reported to be $23 million, which includes an upgrade to DP2. Middle East operators Nico Middle East confirmed that they have sold their 1982 Moss Point built AHTS “Team

Rima” (ex Gulf Yankee, Nicor Yankee, Seacor Yankee) to Liwa Petroleum Marketing Est. based in the UAE. Vessel has been renamed “Ali B1”. Measuring 230’ x 42’ x 15’ depth, she is powered by twin EMD 16-645E2 main engines creating about 3,900BHP. The vessel was fully classed with ABS, but was recently transferred to RINA and comes with an additional

notation of Ice Class C. Nico had purchased the “Gulf Yankee” along with the 248’ “Gulf Frontier” in 2004 through Marcon International, acting as sole and exclusive brokers for the Sellers. Marco Polo Offshore Pte. Ltd., entered into two Memorandum of Agreements with RAS Marine Pty Ltd to acquire two utility vessels for a total consideration of A$21.5 million in cash. The two utility vessels, known as “OMS Terra Nova” and “OMS Endurance”, are Australian flagged vessels built in 2007. “OMS Terra Nova” is a 50m A1 offshore support vessel and “OMS Endurance” is a 49m A1E offshore support vessel. “OMS Endurance” and “OMS Terra Nova” will be sold with existing chartering contracts, which, if not renewed, will expire end September 2011 and end August 2012, respectively.

Primarily Norwegian tug owners, Bukser og Berging of Oslo have purchased the VS 473 design AHTS “Viking Troll” (ex Havila Force, Stirling Iona) from fellow Norwegian owners Eidesvik AS. The vessel has been renamed “BB Troll”. Built in 2000 by Ferguson Shipbuilders in Glasgow for Seacor, the twin Wartsila powered, 14,800BHP vessel was sold to Havila in 2005 as part of a five vessel deal. Eidesvik then bought the vessel in 2007 for about $53 million, and it is estimated she was sold at a significant loss in this recent sale. The “BB Troll” is currently working the North Sea spot market.

Gulfmark Offshore Inc. have sold their 1998 Brevik yard built, PSV “North Traveller” (ex Stout Truck) to Sartor Offshore who have renamed her “Ocean Surf”. The vessel is a UT755 design and flies the Norwegian flag. Classed with Det Norsk Veritas, she carries the notation: 1A1 SF E0 DK(+) HL(2.5). Measuring 220’ x 52.5’ x 23’ depth, she is capable of carrying a 3,100dwt payload and has a clear deck of 621m2. “Ocean Surf” is powered by twin Normo KRMB9s producing a total of 5,490BHP. The reported sales price was $18.692 million.


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The Seacor Offshore owned 10,800BHP AHTS “Seacor Grant” has been sold to a Norwegian Limited Partnership (KS) for $36 million, which includes a four year charter to the Angolan national oil company, Sonangol. Seacor is to remain managers and part owners. The vessel was built in 1998 at Bender Shipbuilding, USA, measures 265’ x 52’ x 19’ and powered by four CAT 3516s producing 120mt of bollard pull. The “Seacor Grant” is classed by ABS with the following notation + A1(E) Towing Vessel + AMS, DPS-2, OSV. The vessel currently flies the Marshall Islands flag.

The small supply vessel "Gulf Ranger" (ex Erika Lynn) is reported to have been sold by Gulf Ocean Marine Services LLC to unknown buyers. The vessel had been offered for sale via the United States Bankruptcy Court of Louisiana as part of the Gulf Fleet Bankruptcy proceedings, though it is unclear as to whether the vessel was indeed purchased via the Court. Vessel details as follows: 145.0' loa x 129.9' lbp x 36.0' beam x 11.0' depth x 6.00' light draft x 9.00' loaded draft. Built in 1985 at Service Machine, LA. U.S. flag. Lt. Disp: 390lt. Deck Cargo: 400LT on 98'x32' clear deck. Deck Load: 808psf. FO: 48,856g. FW: 16,472g. DW: 78,427g. Liq. Mud: 1,200BBL. Main Engine(s): two GM 8V149 total 1,520 BHP. TD MG-520 5:1 gear(s). Bowthruster 300HP.Speed about 10-12kn on 5m3/d. Genset(s): 2 - 75kW / GM6-71. Firefighting: 1 monitor / 1,900gpm. 18 in 5 cabins in air conditioned accommodations.

It is reported that the Indian yard, ABG has sold to Italian operators Marnavi spA, the AHTS Hull “No 284” which has now been renamed “Ievoli Coral” for a price of $17.5 million. It was rumored that the vessel was originally commissioned by a new Norwegian outfit, Varada Marine, whom had ordered a sizeable sum of vessels from ABG. The vessel was originally named and launched as the “Varada Patriot Island”. The 2010 built vessel is a Seatech P-729 design and measures 63.4m x 15.8m, is powered by twin GE 7FDM12 creating a total of 6,140BHP and 82T of bollard pull. “Ievoli Coral” is believed to be heading to Brazil.

Tidewater Inc. purchased the PSV “Hellespont Dione” from German owners Hellespont for an undisclosed sum. Tidewater was the vessel manager prior to the sale and it is reported that the vessel is being deployed to Angola. Built in 2010 by Labroy in Singapore, the vessel measures 241.5’ x 52.5’ and has a deadweight of 3268mt. She is powered by twin MAK 6M25 engines producing around 5,300BHP. The vessel is a UT755LN design reportedly upgraded to DP2. Tidewater renamed the vessel “Kenny Tide”.

Norwegian operators Deep Sea Supply have agreed to sell their 1999-built AHTSs "Sea Cougar" (ex Bourbon Charisma, Havila Charisma) and "Sea Wolf I" (ex Torm Eagle, McNee Tide) to an Asian buyer. Expected delivery to the new owners is the second half of January 2011. The vessels will leave the North Sea market. The Parties agreed to keep terms and conditions of the transaction private and confidential. The profit from the sale will be booked in first quarter 2011. The strategic reasons for the sale is to renew Deep Sea Supply's fleet. After the transaction is completed, the fleet will consist of 27 offshore supply vessels of which 21 are in operation and 6 under construction.


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Charter News Norwegian owners DOF ASA have gained a 4-6 year bareboat charter with SEAFORCE/Australian Customs and Border Protection for their support vessel “Skandi Bergen”. The 2007 Aker yard built measures 105.9m in length, is DP2 compliant and has 1,100m2 deck area. The vessel was renamed “Ocean Protector” and reflagged under Australian registry. “Skandi Bergen” replaces Eidesvik’s “Oceanic Viking” (ex Viking Lady) which had been on the same charter for 5-6 years previously. Incidentally the “Oceanic Viking” is being renamed “CS European Supporter”, as the vessel looks to enter into the power cable installation market in 2011. In September, DOF ASA also announced that oil major Statoil ASA declared the last two-year option for the charter of DOF's 15,000BHP AHTS vessel “Skandi Stord”. The 73.5m x 16.4m, 2,900dwt “Skandi Stord”, has been on-hire to Statoil since her delivery from Astilleros y Servicios Navales S.A. of Valdivia in 1999.

Farstad Shipping’s PSV “Far Scotia” was awarded a 5 year firm contract with an option for an additional five years by Petrobras as a ROV support vessel. Built in 2001 by Brattvaag Skipsverft, “Far Scotia” has a 3,022dwt capacity. The contract was achieved in cooperation with Fugro Brasil, who will be the ROV service provider. Expected commencement of the contract is during the second half of 2011, after the “Far Scotia” is upgraded in accordance with charter requirements. The contract is important for Farstad's further development within the subsea segment and awarded at satisfactory terms. The total value of the 5 year firm period is approx. NOK 335 million (abt USD $56 million).

Malaysia’s Tanjung Offshore Services Sdn Bhd, a wholly-owned unit of Tanjung Offshore Bhd, has been awarded a contract to supply a tug and utility vessel for RM22 million (abt $7 million equivalent, or $3,200 per day per vessel average). In a filing to Bursa Malaysia, Tanjung Offshore said the contract, effective this month, was for three years. The company said the vessels would be used to support the offshore operations of Carigali-PTTEPI Operating Company in block B-17 in the Malaysia-Thailand Joint Development Area. The contract was expected to contribute positively to Tanjung Offshore’s earnings and net assets for financial year ending Dec 31, 2010 and beyond.

Swedish owners TransAtlantic have been awarded a four year contract by ENI Norway for the ice strengthened AHTS vessel “Njord Viking”, which is under construction at Astilleros Zamakona in Spain. The AHTS will support exploration and development operations in the Barents Sea including the Goliat field. Commencement of the charter is scheduled for May 2011. The total contract value for the four year contract is about NOK 430 million. “Njord Viking” is part of series of four vessels designed for working in the harsh environment of the Arctic. She is equipped with a de-icing system that will prevent icing

during the harsh Northern winter seasons. The “Njord Viking” complies with the latest oil recovery rules (NOFO 2009). The vessel also has standby class according to DNV rules and is equipped with a covered ROV hangar and a ROV launching system. “Njord Viking” will be equipped with a 170BHP work ROV mainly to be used during pre-laying of mooring systems. The vessel will also perform towing and anchor handling work during rig moves, standby and supply services to the Mobile Offshore Drilling Unit Scarabeo 8 when necessary. The Goliat field is located 52nm offshore northern Norway and the support base for the operation will be Hammerfest. The water depth at the Goliat field is approx. 370 meters.


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Norway’s marine offshore engineering company Subsea 7 has been awarded a $100 million offshore contact by oil giant BP. The pipeline installation and construction vessel “Subsea Viking” will be used to support the contract at BP’s deepwater fields in the UK and Norwegian North Sea. The contract is valid for two and a half years, with extension options. This represents a “significant” deal for Subsea 7 in the light of BP’s Gulf of Mexico catastrophe, a Subsea 7 spokesperson told Lloyd’s List. The BP offshore deal builds on other contracts totaling $400 million won by Subsea 7 in the third quarter of this year. Subsea 7’s vessels have already secured lucrative contracts with BP in Angola and with Petrobras in the other key deepwater markets in Brazil. Solstad Offshore has won a long-term contract for the anchor handling tug and supply ship “Normand Jarl” from the Norwegian coastal administration Kystverket. The charter, due to start on 1st January 2011, has a firm duration of one year and also includes a one-year extension option. The value for the firm period is NOK35 million. The deal is conditional on technical inspection of the ship and will not be finalized before the end of November 2010, which is the deadline for submitting complaints against Kystverket's choice of supplier.

Though Great Offshore’s second-quarter financial numbers were disappointing, the outlook for the coming fiscal year looks better on higher utilization of its assets. Great Offshore, one of the largest integrated offshore oilfield services providers in India, informed the exchanges that it had bagged a one-year contract worth $4.3 million from GSPC to deploy its 67.4m, 2007-built, 10,876BHP AHTS “Malaviya Twenty Three”. The 124 tonne bollard pull vessel was earlier operating on short-term charters. The new contract comes

close on the heels of Great Offshore’s key drilling unit “Kedarnath” commencing a 5-year charter with ONGC after being out of operation for almost 6 months. Havila Shipping concluded bareboat charters and purchase options on two PSVs. The vessels are the 2010-built VS485CD “Troms Artemis”, which is to be renamed “Havila Commander”, which recently returned to the North Sea from drilling support off Greenland; and sister vessel “Troms Apollo”, which is to be renamed “Havila Crusader”. The latter vessel is under construction at Norway’s Hellesoy shipyard with delivery due mid December. Orders

Eidesvik Offshore has entered into a contract to build their fifth LNG-powered platform supply vessel powered by natural gas. The vessel is specially equipped for operations in northern areas and will provide 26 new jobs in the company. The contract is between an Eidesvik Offshore ASA subsidiary company and Kleven Maritime AS. The new building is a natural gas powered Platform Supply Vessel (PSV) type: VS 489 LNG, 89 meters long and 21 meters wide. The vessel, designed for low fuel consumption, is to be delivered 3Q 2012.


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Ulstein Verft is contracted to build two medium-sized platform supply vessels of Ulstein´s PX121 design for a newly established company in Ulstein Group. The vessels will be delivered in Q1 and Q3 2012. “We have analyzed the market to make the right choices for Ulstein Group. We strongly believe that there will be an increased demand for this type of medium-sized platform supply vessels,” says Ulstein Group´s CEO Gunvor Ulstein and continues: “On the basis of competence, quality and benchmarking of prices, Ulstein Verft is competitive, and it is an advantage that we can use our own yard to build the first vessels in this series. Ulstein Verft has had attractive delivery time frames as such the ships will be completed at a period where the market will need this type of tonnage." “We have been focusing on an efficient hull design and a conscious choice of propulsion systems to minimize fuel consumption and emissions. The vessels are built with the X-BOW

® hull design that is

particularly well suited for this type of vessel. A bow of this type will in good weather offer the same efficiency as a traditional bow with a bulb, but over a large variation in depth foregoing. This is particularly important for vessels that operate with varying loads such as a PSV often does. In addition, the X-BOW

® has unique

characteristics in terms of motion and propulsion efficiency in heavy seas, and this is a positive contribution to the well-being on board, as well as efficiency," says Tore Ulstein, head of the Ulstein Design & Solutions area. “Ulstein Verft´s order book is now filled until end of summer 2012. These are important contracts, which contribute to fill our capacity," comments managing director of Ulstein Verft, Karsten Sævik. The ships are optimized for certain types of operations; they are adapted to the requirements for longer and deeper boreholes, and activities further from land. The ships have a length of 83.4 meters and beam of 18 meters. They have a cargo deck of 875m2 and load capacity of 4,200dwt. Good tank capacities, flexible and segregated arrangement, these multi-functional vessels will be able to work very well for many types of supply contracts. Both the hull and propulsion system are deliberately chosen to be particularly well suited for the North Sea and the North Atlantic. The ships meet the requirements of Clean Design, and have treatment systems for ballast water and are prepared for fire-fighting class FiFi 2. Beyond the usual tanks for oil, water and drilling fluids, the vessels have four stainless steel tanks for flammable liquids, such as methanol. The ships will reach a speed of at least 15 knots, but the vessels are optimized for low fuel consumption at a speed of 12 knots. They are equipped for 24 persons in 17 cabins, with modern accommodation. The two ships will be build numbers 291 and 294 at Ulstein Verft.

Farstad Shipping ASA has, through its wholly owned subsidiaries in Singapore, Scotland and Norway, reached agreement with STX OSV to build four platform supply vessels with an option for building an additional three vessels. The newbuilds are part of Farstad's fleet renewal and represent an investment of approx. NOK 1.35 billion (excluding options). Delivery of the vessels will take place in 2012 and 2013. The vessels ordered are of two different designs: three of the vessels will be of STX PSV 08 CD design, of which two will be built at STX yard in Vietnam and one at STX yard in

Tomrefjord (Langsten). These vessels are built for Farstad Shipping's foreign subsidiaries. The PSV 08 CD design is a newly developed, medium sized, diesel electric PSV with deck area approx. 800m². In addition one large PSV (deck area approx. 1,000m²) of UT 754 WP design is ordered. This is a new PSV concept developed in close cooperation between Rolls Royce Marine and Farstad Shipping. Delivery and building of this vessel will be managed by STX yard in Tomrefjord (Langsten).


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DOF ASA announced a new contract with STX Brazil Offshore for the building of one Anchor Handling Tug Supply Vessel of AH 11 design for Norskan Offshore in Brazil. Norskan Offshore is a subsidiary of DOF ASA. The vessel is scheduled for delivery at the end of 2013. This vessel is the third in a series of new AH 11 designs from STX Norway Offshore Design (the other two we reported on in our August Market Report). Today DOF has seven vessels under construction in Brazil. The vessel will be built at STX Brazil Offshore in Niteroi, Brazil.

STX won an order for UT 515 CDs from an unnamed company at STX Europe Brattvaag in Norway. Deliveries are scheduled for fourth quarter 2011, second quarter 2012 and third quarter 2012. The vessels are designed to carry out towing and rescue operations including fire fighting and oil recovery duties and will be 86m length overall and 17.5m beam. These

vessels are ocean going tugs capable of undertaking salvage, rescue and towing operations, including fire fighting and pollution prevention. Each vessel will be delivered with a fully-integrated Rolls-Royce equipment system, including engines, propulsion systems, rudders, deck machinery, thrusters, automation and control systems and Dynamic Positioning equipment. Included in the contract is an extensive customer training programme to be delivered at the new Rolls-Royce training centre in Aalesund, Norway. At the time of press – yard numbers had been assigned, Bureau Veritas Class is being contemplated, but the owner remains unknown. Following on, STX OSV Holdings Limited reports that it has secured a new contract for the design and construction of a platform supply vessel of PSV 09 design for an undisclosed international customer. The vessel is scheduled for delivery from STX OSV in Norway in 2012. The hull will be delivered from STX OSV's shipyard in Romania. The STX OSV PSV 09 is designed by STX OSV Design in Ålesund, Norway. The overall length of the vessel is 87.9 meters and it has a beam of 19 meters. This latest contract takes STX OSV's order book to 50 vessels, 17 of which are scheduled for delivery in 2012. ABG Shipyard Ltd. said that the company bagged new orders for $82.5 million or about Rs.370 crore. The first of the orders is from Halul Offshore Co. W.L.L, Doha, Qatar for 91-meter twin screw diving support vessel for unrestricted services with dynamic positioning system. The vessel will be equipped for sub-sea maintenance and saturated diving up to 300 meters, air dive and ROV operation, supply of material to offshore locations, transportation of men, external fire fighting, etc. Vessel will have good maneuverability and station keeping using with Dynamic Positioning (DP-II) capability and being classed with Det Norske Veritas. The order is valued at $65 million. The second order is from Marnavi Spa (Plc) for 63.8 meter twin screw 82T bollard pull, AHTS vessel for unrestricted services with dynamic positioning system (DPS-II) equipped for anchor handling, towing, rescue, offshore supply, external fire fighting and other related duties. Order is valued at $17.5 million. This story is reported in the above Worldwide Sales section – regarding “Ievoli Coral”.

Shipmanagement BV and Rederij Groen BV have teamed up to order two safety standby vessels which will be dual certified according to UKOOA and NOGEPA rules. The new vessels are designed by Glomar Shipmanagement BV and will be equipped with green engines according latest IMO TIER 2 standards. The first vessel is due to be delivered in August 2011, with the second vessel in October 2011. The new vessels will be 42m overall with a beam of 11m, depth of 4.7m, maximum draft of 4.1m, and will have two 875kW

main engines. They will have a design speed of 12 knots, deck area of 160m², deck load of 5t/m², and will be certified Lloyds 100 A1, Safety Stand-by Vessel, Offshore Supply Vessel, Oil Recovery, ICE class 1E, UKOOA class B, Nogepa 120 survivors.


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Rolls-Royce has won an order to provide the design, propulsion systems and deck machinery for four deep water PSVs. The order from Tidewater, Inc. is worth over £20 million to Rolls-Royce. The propulsion system used on the Rolls-Royce designed UT 755 CDL will include Rolls-

Royce Azipull azimuth thrusters with pulling propellers for increased efficiency. This marks the first time these propulsors have been selected for this particular vessel type. Rolls-Royce will also supply the power electric system, deck machinery and high speed diesel generator sets. The vessels will feature a diesel-electric propulsion system that meets Clean Design standards - an industry-specific range of stringent environmental and safety requirements. The vessel design places a premium on crew comfort and minimizing noise and vibration. The vessels will be built at the Drydocks World shipyard in Indonesia, with delivery scheduled for 2012. There are options for a further four vessels of the same type. The four 265’ deepwater platform supply vessels will be built in Batam. The delivery of these high-performance, high-capacity, 3,200 metric ton deadweight platform supply vessels is estimated to begin in April 2012 and conclude in late 2012. The contract price of the four vessels totals approx. $100.4 million, exclusive of some owner-furnished equipment. The agreement with Drydocks World also provides options, at Tidewater's discretion, for the construction of up to four additional vessels of similar specifications and at similar pricing.

Jeff Platt, Chief Operations Officer of Tidewater Inc., commented, “We are very pleased to announce the construction of these UT 755CDL-designed vessels as part of our continued effort to provide our customers with the latest technology in offshore marine assets capable of operating on a worldwide basis. Including this new construction commitment at Drydocks World, Tidewater has committed approximately $500 million to its on-going fleet renewal program in recent quarters. While we will continue to evaluate the relative attractiveness of vessel acquisitions and new construction commitments, we expect that investment levels will

remain elevated in the coming quarters as Tidewater continues to grow both its modern fleet and its earnings capacity.” The vessels will be built at DDW- P.T. Nanindah Mutiara Shipyard and the first unit is targeted for delivery in 18 months time, followed by the remainder of the vessels every two months. Each 2,000GRT PSV will be constructed to Rolls Royce Marine's design, UT755CDL and powered by diesel electric propulsion with three diesel electric AC generators each connected to two electric motors driving three directional propellers. They will be 81.55m x 16.00m x 7.0m depth and will have a cargo deck measuring 670m2. Khamis Juma Buamim, Chairman, Drydocks World & Maritime World, said: “We are confident and despite the global down turn we are modifying and managing change with clear vision, we do believe that our new horizon will ensure and enhance the sustainability cycle of our business. This contract is recognition Drydocks World's capabilities as a resilient ship builder and the international maritime industry's vote of confidence in our expertise. It is a testimony to our proven leadership within the industry and capability built on strong foundations based on years of experience in handling diverse projects of varying complexity. We thank Tidewater Marine LLC for the trust placed in the specialist ship-building skills of our Nanindah facility and look forward to continued partnership in the future.” Nanindah is one of the busiest ship-building yards in Asia and is widely recognized for its capabilities as an integrated maritime solutions provider in the Southeast Asia region. DDW also has three other ship yards, DDW-Singapore, DDW-Graha and DDW-Pertama in Southeast Asia, in addition to the Dubai Shipyard. The facility in Singapore is a repair and new building yard, the shipyard at Graha is a dedicated rig building unit and the one at Pertama is a mixed-use yard.


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A letter of intent has been signed by Hibernia Management and Development Co. with Maersk Supply Service/ Seabase to provide supply vessel services required for the Hibernia offshore oil production platform. The company intends to build two multi-function platform support vessels at Marystown Shipyard in Marystown, Newfoundland. The contract, which exceeds $100 million over eight years, also includes an option for a third vessel. The eight year contract is for the provision of supply vessel services for the offshore platform, which will be located 196 miles offshore Newfoundland on the Grand Banks. The newbuildings are required to provide logistical support to the platform and must be equipped with a dynamic positioning system. In addition, the vessels must be capable of providing support to oil spill recovery operations at the offshore platform; at least two of the vessels are to be multi-functional platform support vessels

(MFPSVs). These vessels will have the added responsibility of performing standby duty and will be specially equipped to assist the platform in the event of an emergency. Other MFPSV responsibilities include the provision of assistance to shuttle tankers while connecting to the subsea loading system and assistance in ice management operations. Maersk Supply Service is headquartered in Denmark and its agent, Seabase, is located in St. John’s, Newfoundland. Details of the vessel specifications have yet to be released. Colombo Dockyard PLC (CDPLC) has secured contracts for the construction of two 78m Multipurpose Platform Supply Vessels (MPSV) with a 3,600 deadweight capacity for the Greatship Global Offshore Services Pvt Limited of Singapore at an undisclosed price. Greatship Global Offshore Services Pte. Ltd. is a Singapore incorporated subsidiary of Greatship (India) Limited (GIL), which is a subsidiary of The Great Eastern Shipping Company Limited. These MPSVs are due for delivery in Q4 FY 12 & Q1 FY 13, respectively. Colombo Dockyard, having built two MPSVs to similar design (STS 909), worked in collaborative consultation with the Owners and Designer Seatech Solutions International (S) Pte Ltd of Singapore to incorporate an oil recovery arrangement, meeting the emerging needs of the industry and Owners, in the same design making it a unique vessel, where a platform supply vessel has been designed to perform oil recovery functions as well. These vessels are designed for operating as advanced PSVs as well as light construction support vessels, complying to SPS Code 2008 and Clean Design requirements of LRS, DP2, Fire Fighting Capability, Oil Recovery Capability, Capability to support ROV operations and are prepared for 50T Active Heave Compensated crane, A-frame and heli-deck. The main role of this vessel is to support offshore oil and gas fields around the clock and it will have an endurance of 35 days and a cruising range of about 9,200 nautical miles. Designed for operation worldwide and with an outstanding speed of 13.8 knots, the vessel can get to the desired location around the world as quickly as possible, minimizing downtime. The vessel, built for operation in unrestricted waters, is capable of undertaking multi-purpose roles such as oil recovery, transportation of pipes, fresh water, diesel, methanol, bulk cement, stores, equipment, deck cargo and transfer of materials between platforms and shore. Twin controllable pitch propellers, twin high lift rudders and transverse bow and stern thrusters provide good maneuverability and station keeping ability. The vessel is controlled from twin maneuvering consoles fitted in the wheelhouse, forward and aft stations with joy-stick controls. The vessel will also be equipped with an advanced dynamic positioning (DP AA) system which assures safe and more efficient operations while working in close proximity to oil platforms/rigs, even under the harsh weather conditions. Being equipped with a fully automated bridge layout with alarm monitoring systems for periodic single man bridge operation, the vessel is classed with NAV1 notation. The vessel is fitted with automated installations enabling machinery spaces to remain periodically unattended in all sailing conditions including maneuverings, qualifying it to be assigned with UMS notation. The vessel is designed to have an enhanced accommodation area for 50 persons. These accommodation areas are well-appointed and are aesthetically designed with special attention being made to noise and vibration levels and crew comfort onboard the vessel, thereby meeting compliance to CAC3 notation of the classification society.


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Swissco Holdings Ltd announced that its wholly owned subsidiary, Swissco Offshore Pte Ltd has recently placed orders for two offshore support vessels for a total value of S$20 million. The two Anchor Handling Tug Supply vessels have been placed with a shipyard located in Guangzhou province, China. Designed and equipped to meet the ever changing demands of clients, these two vessels are expected to be deployed in the South East Asia region as well as the Middle East offshore oil & gas fields. The two vessels are expected to be delivered by the first half of 2012. “Having just completed the merger of Swissco International Ltd and C2O Holdings Ltd in September 2010, these

two new ship orders are the first milestone of our newly merged entity” says Mr. Robert Chua, Chairman of Swissco Holdings Ltd. “Even though the current market is still feeling the effects of the 2008 credit crisis, we are confident of the prospects of the offshore supply vessel market. We feel it is a right time to initiate our fleet expansion program to enhance the capabilities of our fleet.” Swissco currently owns and operates a fleet of 48 vessels, and expects to take delivery of six vessels in 2011 and the aforesaid two vessels in 2012. Singapore's Ezra Holdings Limited says it will add four high-end multi-purpose platform supply vessels to its fleet in light of the positive outlook for the offshore oil and gas sector. It says the investment of approximately US$130 million underlines its commitment to strengthening the capabilities of its core businesses and driving its next growth phase. The four multi-purpose PSVs of up to 5,200dwt will be purchased over the next two years and will meet the latest safety and oil recovery guidelines. Ezra's positive feelings no doubt got a boost from $51 million worth of letters of intent and letters of award collected by EMAS Offshore, its offshore support services operating unit, covering the charter of five anchor, handling, towing and supply vessels and a PSV to oil majors and national and independent oil companies for operations in Asia and Australia. The average period for these new charters exceed two years. Ezra' Managing Director, Mr. Lionel Lee, said: "We are currently fortifying our key offshore support, deepwater subsea and engineering services units in preparation for our next leg of growth, which will see Ezra becoming a truly global player in the offshore O&G sector." The announcement comes closely behind the news of Ezra's purchase of a fabrication facility (the former Goodcrane facility) in Houston that it expects to anchor its position as a global O&G engineering services provider. Ezra is pursuing a $250 million acquisition of Aker Marine Contractors, which it says will see it join the ranks of the world's top players in the subsea services sector and which will make Aker Solutions a major Ezra shareholder.

Just prior to going to press - Polish shipbuilder Remontowa has signed a deal to build two multi-purpose platform supply vessels for Lewek Shipping, a subsidiary of Singapore’s Ezra Holdings. Construction on the MMC 887 CP design vessels began in September and Remontowa laid the keels of both ships last week, the company said in a statement. When completed, each vessel will be equipped to carry dry bulks, liquid mud, general supplies and cargo and special products such as methanol. The 5,200dwt ships have a deck space of 900 square meters and can carry up to 60 people. The vessels are due to be delivered to Lewek in the first and second quarters of 2012. MMC is a Polish design house.


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A joint-venture company Arctech Helsinki Shipyard Oy, 50/50 owned by STX Finland Oy of Helsinki and United Shipbuilding Corporation, has received an order for two new Multifunctional Icebreaking Supply Vessels (MIBSV) from its Russian customer Sovcomflot, the largest shipping company in Russia. The value of the order for both vessels is USD200 million and the project will start immediately. The new vessels are expected to be delivered from Helsinki shipyard during spring 2013. Arctech Helsinki Shipyard Oy will build the new vessels for the Sakhalin-1 Arkutun-Dagi gas field where they will be used as supply vessels for Exxon Neftegas Limited's platform which had in December 2009 tendered for long-term charter of two enhanced, ice class supply vessels of 4,000dwt each. The charter agreement stipulates a minimum of 10 years contract. These vessels represent the next generation of multifunctional icebreaking supply vessels, designed to meet all the rules, standards and requirements of international conventions, national and regional rules, including the requirements of the Russian Maritime Register of Shipping. They will have a specially designed stern to navigate in ice and a propulsion system with two steering units and dynamic positioning capability, which allows the vessels to maintain a steady position at the platform. The 99.2m x 21.7m x 11.0m depth vessels are fitted with diesel electric propulsion, powered by four Wartsila diesels each driving 4,500kW AC generators providing a total power of 18,000kW. These are connected to two 6,500kW electric motors driving two propellers, providing a propulsion power of 13,000kW or over 17,400BHP. The vessels are also fitted with two tunnel thrusters forward. The 4,400dwt vessels are designed for operating during the winter season in the extreme environmental conditions experienced in the Sakhalin area. They will be operating in thick drifting ice in temperatures as cold as minus 35C˚. Their main purpose is to supply the gas production platform and to protect it from the ice. Their icebreaking capability is extremely high; they are able to operate independently in 1.7 meter thick ice. As multipurpose offshore tug/supply ships, the vessels are capable of carrying various types of cargo and are also equipped for combating oil pollution, fire fighting, and rescue operations. Their rescue capacity is for 195 persons. The vessels will fly the Russian flag. STX Finland shipyards have a long history of building ice-going vessels. Approximately 60% of the world's operational icebreakers today were built in Finland. Finnish shipyards also have a strong foothold in Russia with 1,500 delivered special vessels including almost all Russia's conventionally powered and two Taimyr class nuclear-powered icebreakers. "This is a significant breakthrough into the currently very active Russian arctic ice-going ship markets. I am especially happy to see that the customer is Sovcomflot. As Sovcomflot already has in their fleet a very similar supply vessel, delivered 2005 by STX Finland, we can only consider this order as a sign of confidence from their side" says Mr. Juha Heikinheimo, President of STX Finland. New projects will offer work for 1,000 man-years. "There is significant potential for arctic ice-going and ice breaking vessels in Russia for Arctech Helsinki Shipyard Oy, where we hope to be able to utilize our world-class arctic technology experience combined with the Russian shipbuilding and ship operation expertise," continues Mr. Heikinheimo. United Shipbuilding Corporation is the state owned Russian shipbuilding corporation formed in 2007. The company has 42 shipyards in Russia and it focuses on developing Russian civilian and military shipbuilding. STX Finland Oy has two shipyards in Finland, in Turku and Rauma. The company belongs to the international STX Europe Group, with approx. 16,000 employees. STX Europe's principal shareholder, the international conglomerate STX Business Group of Korea, has production plants representing various industries all over the world and a total of approx. 54,000 employees. Sovcomflot (SCF) Group’s fleet comprises 147 vessels of about 11 million tonnes (dwt) in total; its current shipbuilding portfolio includes 16 ships representing an aggregate of 1.5 million tonnes (dwt). SCF owns the largest ice-class fleet, being No.1 in the Arctic shuttle tanker and ice-class LNG tanker market segments. Operating supply vessels servicing drilling platforms is an important segment of the business, which SCF Group commenced in 2009. The Group’s supply vessels service oil drilling platforms operated for the Sakhalin-1 and Sakhalin-2 projects.


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Supply Vessels Worldwide According to Lloyd’s Register Fairplay Seaweb, as of November 18th, 2010, there were 6,040 “sea-going” supply vessels over 100GRT worldwide. This is up .52% or 31 vessels since our last report in August. Total horsepower of this fleet is 31,749,344BHP. This is up 136,237BHP or .43% since our last report. The largest national fleet of supply vessels worldwide in horsepower and count sails under U.S. registry. The U.S. operates 970 sea-going supply vessels over 100GRT, or 16.06% of the world market, totaling 3,926,208 horsepower (12.37% of the global horsepower) with a 15 year average age. The registry with the youngest supply vessel fleet is Sweden, with four 2010-built vessels totaling 73,380BHP.

Top 50 “Sea-Going” Supply Vessel Fleets By Units as of November 2010 According to Lloyds Register

Flag Total BHP % #SVs % Avg BHP Avg Age

Worldwide 31,749,344 100.00% 6,040 100.00% 5,257 1994 USA 3,926,208 12.37% 970 16.06% 4,048 1995 Singapore 2,903,330 9.14% 459 7.60% 6,325 2006 Panama 1,588,379 5.00% 383 6.34% 4,147 1988 Malaysia 1,417,846 4.47% 295 4.88% 4,806 2004 Vanuatu 1,795,714 5.66% 281 4.65% 6,390 1997 Norway 2,673,663 8.42% 234 3.87% 11,426 2003 Mexico 784,146 2.47% 214 3.54% 3,664 1990 China PRC 978,668 3.08% 207 3.43% 4,728 1992 India 983,050 3.10% 204 3.38% 4,819 1993 Unknown 533,936 1.68% 188 3.11% 2,840 1984 St Vincent & The Grenadines 836,377 2.63% 177 2.93% 4,725 1995 Brazil 1,041,699 3.28% 161 2.67% 6,470 2000 UAE 463,411 1.46% 161 2.67% 2,878 1988 Indonesia 417,416 1.31% 138 2.28% 3,025 1989 Nigeria 418,840 1.32% 122 2.02% 3,433 1985 United Kingdom 584,737 1.84% 112 1.85% 5,221 1994 Bahrain 459,931 1.45% 97 1.61% 4,742 1997 Marshall Islands 518,651 1.63% 92 1.52% 5,638 2003 Italy 518,354 1.63% 86 1.42% 6,027 1991 Norway 688,814 2.17% 62 1.03% 11,110 2002 Bahamas 481,352 1.52% 61 1.01% 7,891 1995 Cyprus 444,242 1.40% 61 1.01% 7,283 2003 Liberia 470,979 1.48% 60 0.99% 7,850 1999 Belize 319,416 1.01% 57 0.94% 5,604 1987 Egypt 211,080 0.66% 57 0.94% 3,703 1985 Azerbaijan 286,351 0.90% 53 0.88% 5,403 1987 France 354,995 1.12% 49 0.81% 7,245 2005 Denmark 653,109 2.06% 48 0.79% 13,606 1998 Russia 419,223 1.32% 47 0.78% 8,920 1992 Isle of Man 542,643 1.71% 43 0.71% 12,620 1997 Comoros 129,843 0.41% 41 0.68% 3,167 1982 Luxembourg 261,645 0.82% 41 0.68% 6,382 2008 Iran 151,282 0.48% 40 0.66% 3,782 1980 Vietnam 221,892 0.70% 40 0.66% 5,547 1992 Honduras 76,921 0.24% 36 0.60% 2,137 1970 Trinidad & Tobago 62,985 0.20% 35 0.58% 1,800 1986 Qatar 151,719 0.48% 34 0.56% 4,462 1997 Canada 329,197 1.04% 33 0.55% 9,976 1987 Antigua & Barbuda 305,634 0.96% 28 0.46% 10,916 2001 Kazakhstan 86,441 0.27% 28 0.46% 3,087 1994 Venezuela 59,792 0.19% 27 0.45% 2,215 1979 Netherlands 184,011 0.58% 26 0.43% 7,077 1998 Dominica 92,188 0.29% 25 0.41% 3,688 1982 Saudi Arabia 78,607 0.25% 25 0.41% 3,144 1989 Australia 85,400 0.27% 24 0.40% 3,558 1993 Cayman Islands 164,203 0.52% 24 0.40% 6,842 2002 Kuwait 77,773 0.24% 21 0.35% 3,703 1998 Turkmenistan 78,743 0.25% 21 0.35% 3,750 1981 Malta 122,664 0.39% 18 0.30% 6,815 1994 Sierra Leone 42,614 0.13% 17 0.28% 2,507 1972


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New Construction, Shipyard and Conversion News New construction continues, but at a declining pace. According to “Fairplay”, as of 18 November 2010, there were 8,957 ships over 299GRT on the World Orderbook. This is down 521 or 5.5% from 9,478 August 2010. Of the 8,957 ships recorded on order, 606 (down 60) are Offshore Supply Vessels and 139 (down 13) are designated as “Offshore – Other”. Of the 606 OSVs under construction, China leads the Orderbook with a total of 195 (down 41) OSVs being built. They are followed by India at 72, Singapore 49, Malaysia 46, USA 42, 29 Brazil, 27 Indonesia, Romania 23, Japan and the UAE 15 each, 12 Spain, Norway 11, Italy 9, Vietnam 8, Sri Lanka and Turkey 7 each, 6 Poland, the Netherlands, Thailand and Ukraine 5 each, Russia and South Korea 3 each, 2 each the Philippines, Saudi Arabia and the United Kingdom, and 1 each Australia, Canada, Egypt, France, Iran and Nigeria.

Worldwide Offshore Supply Vessels On Order Over 299 GRT

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rabia

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Credit: Fai rp lay Newbui ldings Onl ine 11/10

The below graph shows the estimated delivery dates for those OSVs on order.

Delivery Dates Worldwide Orderbook

For Offshore Supply Vessels Over 299 GRT

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Credit: Fairplay New building Online 11/10


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CAT power lead by far the propulsion packages, with engines in 153 OSVs followed by Cummins in 101, Wartsila in 59, MaK 50, Yanmar 42, Bergens 41, MAN-B&W 26, Niigata 25, General Electric 17, Chinese Standard Type 12, 6 each Guangzhou, Mitsubishi and M.T.U., Daihatsu 4, A.B.C. and EMD 2 each, and Hyundai Himsen, Rolls Royce and Weifang with 1 each. Engines were not listed for 111 OSVs.

Summary of Engines Worldw ide Offshore Supply Vessels

Orderbook Over 299 GRT

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Credit : Fairplay Newbuilding Online 11/10 The highest portion of OSVs over 299GRT being built worldwide are in the 3 – 4,000HP category with 114 OSVs, or 18.8% of those OSVs where the horsepower is listed. Followed by 18.0% being built in the 5 – 6,000HP and 9.7% in the over 10,000HP categories. Only 3 OSVs are shown under 1,000BHP, but this is most likely because most of the OSVs being built in this horsepower range will be under 299GRT.

Summary of Horsepower – Fairplay Worldwide Offshore Supply Vessels Orderbook over 299GRT Under 1,000 – 2,000- 3,000- 4,000- 5,000- 6,000- 7,000- 8,000- 9,000- Over 1,000HP 1,999HP 2,999HP 3,999HP 4,999HP 5,999HP 6,999HP 7,999HP 8,999HP 9,999HP 10,000HP

Unk. Total

OSVs 3 19 28 114 37 109 45 36 23 12 59 121 606

Deliveries As of September 30th, Tidewater, Inc. of New Orleans had commitments to acquire four vessels and build 26 vessels at different yards around the world at a total cost, including contract and other incidental costs, of approx. $700.8 million. Of the 26 newbuilds, eight are AHTSs ranging between 5,150 and 8,200BHP, 17 are PSVs between 3,200 and 5,400dwt, and one is a fast crew/supply boat. Scheduled delivery will begin in December 2010, with delivery of the final vessel expected in October 2012. Tidewater’s commitments to acquire four vessels include binding agreements to purchase three AHTSs and one PSV for an aggregate approx. total cost of $68.6 million. Tidewater took possession of one AHTS in mid-October for approx. $23.7 million and expects to take possession of the second and third AHTSs in November and December for an aggregate approx. cost of $23.3 million. As of September 30th, Tidewater had invested $249.0 million in progress payments towards construction of the 26 vessels and $6.6 million towards purchase of the four vessels. Tidewater’s vessel construction program has been designed to replace over time their older fleet of vessels with fewer, larger and more efficient vessels, while also opportunistically revamping the size and capabilities of the fleet. Tidewater anticipates using future operating cash flows, existing borrowing capacity and new borrowings or lease arrangements to fund current and future commitments in connection with the fleet renewal and modernization.


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Kawasaki Kisen Kaisha, Ltd. (K Line) recently announced that K Line Offshore AS (KOAS) took successful delivery of its first large size PSV*1 "KL Brevikfjord", constructed at STX Europe Brevik Yard in Norway on

September 24th. KOAS, headquartered in Arendal, Norway is the owner and operator, and K Line holds 95% of KOAS shares. This vessel, which is also the first OSV built by K Line Group, will be chartered for a period of a maximum of eight years to the Brazilian national oil company Petroleo Brasileiro S.A., after delivery. Built to STX’s PSV 06 CD design, the 5,100dwt “KL Brevikfjord” measures 94.9m long, 20m wide, has a service speed of 15.3 knots, a 1,100m2 cargo deck area and a DP

capability. She also meets the Clean Design specifications requirements including double-hull structure for fuel oil tanks and is equipped with a ballast water management system prior to the IMO-BWM (Ballast Water Management Convention) coming into effect. KOAS is scheduled to deliver two anchor handling tug supply vessels (AHTS*3) and three PSVs by July 2011. The company will offer efficient, safe and environmentally-friendly OSV services to its customers in growing offshore oil and gas field development worldwide. On 21st October, Maersk Supply Service Canada Ltd. took delivery of the 90.15m “Maersk Nexus”, Newbuilding Hull No. 152 from ASENAV in Valdivia, Chile. “Maersk Nexus” is a PSV with a deck area of 912 m2 and 4,500 tons deadweight. She is the last vessel in a series of two built by ASENAV, her sister being the “Maersk Nomad” delivered in 2009. Both are powered by Wartsila 8L32/40s. United Offshore Services, a subsidiary of Germany’s Hartmann Logistik GmbH, has taken delivery of the tenth of a series of 12 16,000BHP Moss 424h design AHTS being constructed by Italian shipbuilder Fincantieri. The 76.5m x 17.5m x 8m, 180 tonne bollard pull “UOS Voyager” has been fixed for a nine-month contract to Starfish Oil and Gas in Brazil where she will join her sister vessel “UOS Liberty” which is currently on contract to Starfish, also on a nine-month charter. The final two vessels in the series, “UOS Navigator” and “UOS Pathfinder” are expected to deliver end October/early November and are both currently uncommitted.

The seventh in a series of 10 newbuild AHTS for Siem Offshore was christened “Siem Diamond” at a ceremony in Stavanger on 12th October and the naming ceremony of “Siem Garnet” took place in Ulsteinvik, Norway during November. “Siem Garnet” is the eighth, out of ten VS491 CD design vessels being built by Kleven Maritime for Siem Offshore and Singa Star. The newbuilding price was reportedly in the region of US$ 91 million. “Siem Opal”, the next vessel, is expected to be completed in January 2011. The vessels are diesel electric, powered by two Wartsila 16V32s and two CAT 3516Cs, each driving two generators, connected to two 2,400kW electric motors driving controllable pitch

props. The combination of machinery produces 27,300BHP, providing 300 tonnes of bollard pull and a max speed of 20kn. The vessels incorporate a comprehensive inventory of anchor handling, towing and cargo handling equipment. After performing a few spot jobs on the North Sea spot market, the “Siem Diamond” mobilized to Brazil at the end of October to fulfill a 4 + 4 year contract for Petrobras. The 91m x 22m, DP 2-rated “Siem Garnet” is currently working the North Sea spot market. Posh Semco Pte Ltd of Singapore has recently taken delivery of the 16,000BHP, 211T bollard pull AHTS DP2 “Posh Constant”. The first of in a series of three sister vessels the “Posh Constant” started her career with the successful rescue on her maiden voyage of a burning container vessel. She is now chartered to a major oil company in the South China Sea for a period of at least 6 months. The vessel was built at Yuexin Shipbuilding in China.


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It has been a busy fall 2010 for Vroon Offshore. On 7th October, Vroon took delivery of their field support vessel “VOS Endurance”. The 60.0m x 13.1m x 6.25m depth vessel was built by Astilleros Zamakona Shipyard in Pasaia, Spain and is the latest addition to Vroon’s growing fleet of modern vessels providing a range of emergency response and cargo support for the offshore industry. The U.K. flagged “VOS Endurance” was scheduled to start a charter with Chevron about two weeks after delivery and will be operated by Vroon Offshore Services Ltd. out of Aberdeen, Scotland. She is powered by four CAT C18 500kW diesel electric generators connected to two 800kW electric motors driving two azimuthing electric drive units. The

“VOS Endurance” was christened on 11th November in Aberdeen……Six days after delivery of “VOS Endurance”, on 13th October, Vroon took delivery of the “VOS Prevail”, the last in a series of four UT-755LN design, 3,250mtdw PSVs built by Cochin Shipyard in Kochi, India. The 73.6m x 16m x 7m vessel will be operated in Europe by Vroon Offshore B.V. in Den Helder. “VOS Prevail” is classed DnV 1A1, FiFi 1, SF, EO, Clean, Dynpos-Autr, Bis, Tmom. She is powered by a pair

of Bergen C25:33L6P diesels developing a total of 4,732BHP at 1,000RPM and controllable pitch props. This is the 20th such vessel built and delivered by CSL. Cochin Shipyard is currently constructing ten OSVs in addition to working on the prestigious indigenous Aircraft Carrier Project for the Indian Navy……The delivery was followed up the next day by a triple name-giving ceremony at the Fujian Southeast Shipyard in Fuzhou, China where the 1,400dwt, 5,150BHP AHTS vessels “VOS Achilles”, “VOS Aphrodite” and “VOS Hecate” were christened. All three 59.25m x 14.95m vessels were built by Nam Cheong Dockyard Sdn Bhd. The 66mt bollard pull, ABS

classed AHTSs, powered by CAT 3516B-HD diesels, will operate out of Singapore managed by Vroon Offshore Services Pte Ltd. After christening, the “VOS Hecate” was delivered to Vroon on 25th November in China. …….On 22nd October, the name-giving ceremony for the “VOS Precious” took place in Norrköping, Sweden. Sister to the “VOS Prevail”, the UT755LN design PSV “VOS Precious” was also built at Cochin Shipyard in India. The 73.60m, 5,450BHP vessel is chartered by Saipem and managed by Vroon Offshore Services B.V. ….. The name-giving ceremony for the “VOS Enterprise” took place on Monday, 29th November in Vinaroz, Spain. The 60m diesel electric, field support vessel “VOS Enterprise”, like her sister-vessel “VOS Endurance”, is fitted with a 15-man daughter craft and a 15-man fast-rescue

craft, has a 250m2 clear deck and capacities for 400m3 water and 340m3 fuel. The vessel is employed in Spain, where she supports the Hakuryu-10 drilling rig in the Castor Underground Gas Storage project on behalf of charterers Cobra Castor UGS. …… On the last day of November, the name-giving ceremony for the PSV “VOS Prelude” took place in Vinaroz, Spain. The 73.6m “VOS Prelude”, like her sisters “VOS Prevail” and “VOS Precious”, was built at Cochin Shipyard in India. The vessel is employed in Spain along with the “VOS Endurance” supporting the Hakuryu 10 drilling rig in the Castor Underground Gas Storage project also on behalf of charterers Cobra Castor UGS.


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Edison Chouest Offshore's bi-monthly launch of their signature orange-colored supply vessels took a break in October for the launching of a 106.07m x 21.94m x 9.44m blue and white deepwater well stimulation vessel at their North American Fabricators facility in Houma, Louisiana. She is the 56th boat to be launched from North American Fabricators since its founding in 1986. The boat, named “Deepstim Brazil 1” (Hull No. 246) is the first of the dozen Caterpillar-powered deepwater diesel electric offshore supply vessels ECO announced plans to design last year and the largest vessel launched to-date at the yard. “Deepstim Brazil 1” is scheduled to head south to Brazil after the interior has been finished. This vessel is not their typical 280’ variety, in addition there is 20 more feet in length which increases the vessel’s deadweight tonnage from 4,750LT to 5,300LT. The deck cargo capacity is also increased from 10,000ft2 to approx. 11,000ft2, according to Edison Chouest's newsletter. The vessel also features an optimized hull to create less drag in the water, and the diesel electric propulsion allows horsepower to be used on an as-needed basis, which in turn reduces the amount of fuel burned.

President and CEO of ECO, Gary Chouest, said the company launched another vessel the same morning. The “Olin Conqueror”, a 85.34m x 18.2m x 7.31m, offshore tug supply vessel, was launched at their sister-yard Estaleiro Navship Ltda. in Navegantes, Brazil - the first time the company has launched two vessels in the same day. The 7,370BHP “Olin Conqueror” (Hull 119), powered by twin CAT C280-8 4-stroke diesels, is contracted to OGX, the largest privately owned Brazilian oil and gas company.

Chouest added “’Deepstim Brazil 1's’ sister ship, also headed to Brazil, will be ready in early December…. We're not only dependent on the U.S. market," Chouest said. "We've been looking at options all over and have been in that mode for many years. We look to see where we can get the best value for our equipment and we tend to gravitate to those markets. However, we tend to build all our vessels as possible in the Louisiana area because the work ethic of the ship builders here we find to be some of the best in the world." A Havyard 832 L SE platform supply vessel was recently delivered in Bergen to Global Offshore Services B.V., a wholly owned subsidiary of Garware Offshore Services Ltd in Mumbai, India. The vessel, named “Beaucephalus”, is the eighth unit of the Havyard 832 design so far delivered with a further three ships under construction. The newbuilding is designed by Havyard Design AS in Fosnavåg, Norway and described as a large medium size PSV meeting future market demands offering larger capacities compared to existing designs of similar size. It also has energy-optimized diesel electric propulsion giving a service speed of 14.5 knots and satisfies the environmental demands of Clean Design. The 84m long, 17.60m wide 832 L SE is based on the Havyard 832 CD design which has been further developed in accordance with customer demands. Compared to a standard Havyard 832 CD, this new design is extended and has a larger interior. As a result, it has a bigger deadweight tonnage (4,500 tonnes), a cargo deck area of 812m2, accommodations for up to 54 people and is more flexible in regards to the type of jobs the ship can carry out. In addition to usual platform supply jobs this vessel is designed to perform smaller types of construction work and general maintenance and repair work on subsea oil installations. The ship is also prepared for installation of offshore cranes, a moonpool and ROV handling. This latest delivery is the fifth vessel which Havyard Leirvik has built for Garware Offshore Services in the last four years.


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In October 2010, the Offshore Support tug “Smit Siyanda” was delivered to her owners, Smit Shipping Singapore Pte. Ltd., of Singapore. The vessel will be operated by Smit Amandla Marine (Pty) Ltd. of South Africa. “Smit Siyanda” was built by the Keppel Nantong Shipyard Co. Ltd. of China to a design by Robert Allan Ltd. of Vancouver, BC, based on their RAmpage 5000 series offshore tug designs. This new vessel has a

more diverse operating mandate than its predecessors. “Smit Siyanda” was primarily designed for assistance at an SPM buoy operation, with a range of duties including static towing over the bow, hose handling, hose flushing, dive support, fire-fighting operations, general maintenance of the SPM buoy, anchor-handling, and chain replacement operations of the SPM buoy. This 162.4’ x 49.2’ x 22.1’ depth multi-purpose vessel has an extended forecastle deck, with a strongly raked, two level superstructure above, topped by a spacious wheelhouse providing maximum all-round visibility. A major and unusual feature in a vessel of this size is a 10.8’ x 10.1’ moon pool on the centre line close to midships, with a side launching gantry for a dive

bell, etc. Adjacent is a dive decompression unit. The aft deck is dominated by the presence of a large articulated crane and a double drum towing/anchor-handling winch. The tug was built to Bureau Veritas Notation: 1 +Hull, +MACH, Tug, Fire-Fighting Ship 1 with Water Spray, Unrestricted Navigation, AUT-UMS, Oil Recovery. This tug is equipped to carry 576m3 cargo fuel and 128m3 potable water, as well as 116m3 recovered oil plus the foam and dispersants necessary to support its FiFi and Oil-Rec designations. “Smit Siyanda” is extensively outfitted to support the varied missions. There are cabins for eight divers, a fully outfitted galley, galley store and an expansive crew lounge and mess room. On the forecastle deck are three officer’s cabins, each with en-suite plumbing, a dive superintendent's room, and the ship's office. Aft of these is the dive control room and dive machinery space. At "A" deck level above are senior officer’s cabins, all with en-suite plumbing and a Company Rep cabin. The wheelhouse is equipped with a large split style console forward for control of the majority of vessel operations. This is supplemented by an aft control station. Below decks is a large Machinery Control Room overlooking the machinery space. All accommodation and control spaces are fully air-conditioned. The tug is propelled by a pair of Wärtsilä 8L26 engines; each 2,720kW at 1,000RPM driving a Rolls-Royce model US305 CPP Z-drive unit with a 3,200mm dia. propeller. This combination delivered a certified, sustained bollard pull of 97.8 tons, and a free running speed of 14.9 knots on trials. Maneuverability is enhanced by a controllable pitch bow thruster, electric motor driven, rated at 8 tonnes thrust. “Smit Siyanda” is equipped with a fully rated FiFi 1 system comprising two 1,500m3/hr fire pumps, driven by the main engines through a front PTO/clutch. There are two 1,200m3/hr combination water/foam monitors, as well as a complete deluge system, fed via a branch of the FiFi system. A 23 m3 foam tank is served by two electrically driven 36m3/hr foam pumps. For FPSO hose handling and servicing, there is a hose drain sump recessed into the main deck, and a 350mm hose flushing connection, served by the fire-fighting pumps. The vessel is certified as an Oil Recovery vessel. The aft deck incorporates the gear suitable for heavy-duty anchor handling, including a 4.55m x 2.2m dia. stern roller rated 200T SWL and a Karm fork and tow-pins, both rated 300T SWL. There are two aft anchors with winches for fixing position, and a heavy duty waterfall type towing/anchor-handling winch. A rig chain locker is fitted to enable SPM buoy chain replacement and maintenance. Crash rails for cargo are fitted throughout the length of the working deck. The deck crane is an HS Marine, model AKB 190/18/5 rated 90tm, and also rated for personnel-riding operations with a 2T capacity. The main towing winch is a Rolls Royce model TW 1500/1500 F. Both the main towing drum and the upper level anchor-handling drum are fitted with 1,000m of 64mm wire. The winch has a brake rating of 300T, and a light line recovery speed of 49m/minute. The forecastle deck forward is equipped for ship-handling, and is accordingly fitted with a large double-drum Rolls Royce winch, with each side equipped with 600m of 60mm wire.


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Hornbeck Offshore of Louisiana completed OSV Newbuild Program #4. Hornbeck's latest OSV newbuild program consisted of construction contracts with three domestic yards to build six 240 ED class OSVs, nine 250 EDF class OSVs and one 290 class OSV, respectively. With the September delivery of their ninth 250 EDF class OSV, the 76.2m x 16.5m, 6,000BHP, DPS-2 “HOS Wildwing”, Hornbeck's fourth OSV newbuild program is now complete. Inclusive of the delivery above, the aggregate cost of this program was approx. $431.5 million. From the inception of this program through September 30, 2010, Hornbeck has incurred $431.2 million of total expected

project costs, including $4.0 million incurred during the third quarter of 2010. The final remaining $0.3 million of project costs was paid during the early fourth quarter of 2010. Bugsier-Reederei of Hamburg, Germany has taken delivery of the new emergency response tug “Nordic” (ex Nordsee) from builders P+S Werften GmbH of Wolgast, Germany. The new German flagged, 78.29m x 16.40m x 6.0m draft ETV is powered by twin MTU 10V2000M72 diesels producing a bollard pull of abt. 200 tonnes. The Germanischer Lloyds classed “Nordic” will be chartered by the German Government for a period of ten years working in the German Bight to assist vessels in distress. Ordered initially in 2008, “Nordic” is replacing Bugsier’s impressive 1969 built, 87.5m, 178 tonne bollard pull ocean salvage tug “Oceanic”, which has always been a favorite here at Marcon. Bugsier at one time operated one of the largest fleets of deep sea tugs in the world. P+S Werften GmbH was formed by a merger of Volkswerft Stralsund GmbH and Penne-Werft GmbH at Wolgast. VT Halter Marine, Inc. delivered a second DP-2 Platform Supply Vessel to L&M Botruc Rental Inc. of Galliano, Louisiana. Like her sister ship “Cheramie Botruc No. 40” delivered earlier this year, this PSV will carry supplies,

deck cargo, and drilling fluids used to support offshore energy exploration and production. The vessel measures 234’ x 56’ with an 18’ depth and 15’ operating draft and is powered by twin Cummins QSK 60 diesels with a total of 4,400BHP. Maneuverability is assisted by two 1,000BHP tunnel bow and one 1,000BHP tunnel stern thruster plus a Kongsberg ABS classed DP-2 system. The “Cheramie

Botruc No. 41” can carry 1,000 long tons of cargo on her 148’ x 45’ clear deck, 78,790g cargo fuel, 6,336bbl liquid mud, 6,212cft dry bulk and 337,865g rig water. The privately held L&M Botruc Rental has operated for over 60 years one of the largest fleet of offshore maritime transportation vessels in the Gulf of Mexico. Rimorchiatori Malta Offshore Ltd, a sister company to Tug Malta Ltd., has taken delivery of the new 72.4m x 16.9m x 8.0m n anchor handling supply vessel “AH Valletta”, built by the Spanish shipyards Astilleros Armon in the city of Vigo. Following a period of final sea trials the 19,000HP “AH Valletta”, sailing under the Maltese flag, left for Brazil on 4th November where she joins the fleet of Brazilian oil company Petrobras on a four year charter. The RINA classed “AH Valletta” is the eighth and most powerful vessel so far that Rimorchiatori Malta Offshore is chartering to Petrobras. She is powered by two Bergen B32:40L6P 3,000kW and two Bergen B32:40L8P 4,000kW diesels driving two controllable pitch props. This provides a bollard pull of 200 tonnes and a service speed of abt. 16kn. Vessel is also fitted with three 1,224BHP thrusters – one tunnel and one retractable azimuthing forward and a tunnel thruster aft. Both Tug Malta and Rimorchiatori Malta Offshore are subsidiaries of Rimorchiatori Malta Ltd, a holding company established by the Genoa-based Rimorchiatori Riuniti SpA. The vessel reportedly cost over €45 million.


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On Thursday, November 11th, the naming ceremony for the new 109.4m x 24.0m DOF ASA Aker AH-04 design “Skandi Hercules” was held at Storkaia in Molde, Norway. Guests from DOF, the yard STX Europe, subcontractors, bankers, suppliers and other business associates attended the event and enjoyed the perfect weather. Morwenna Hartley, wife of DOF Subsea AS Board member Neil Hartley, delivered the blessing and assumed the role of Godmother for “Skandi Hercules” by successfully breaking a bottle of champagne against the bow of the vessel at 1500 local time. After the compulsory breaking of the champagne and playing of the Norwegian national anthem, the invited guests stepped inside to have a look at the vessel for themselves. Traditional fish soup and refreshments were served, and the whole vessel was open for the guests to explore. The Godmother was given a guided tour by the captain Torbjørn Brakstad and his crew. “Skandi Hercules” is the third in a series of four Installer vessels, the sisters being the “Skandi Skolten”, “Skandi Vega” and the unnamed “STX Aukra 723” hull under construction. She is a state of the art vessel with 350T bollard pull, 140T offshore crane, a deck area of 1,070m2 and 1 Work Class ROV. The diesel electric propulsion plant consists of two Wartsila 16V32s and four Wartsila 8L26 diesel electric engines with a total power of 26,400kW (35,984HP) driving two controllable pitch props. Bollard pull is 300 tonnes and the maximum speed 18.0kn. “Skandi Hercules” is an environmentally friendly, efficient and high quality vessel, designed by end-users for optimal subsea support. Some of her design features include: low resistance hull shape designed for high speed and low fuel consumption, good sea- and station-keeping performances, excellent maneuverability, high capacities and good stability; large working deck ROV hangar, prepared for launch and recovery system for ROV; and large, high standard and comfortable accommodation for 90 people, with low noise levels. Louisiana based Global Industries, Ltd. has taken delivery of their newly launched 162.3m (532.5’) x 32.2m (105.6’) derrick pipelay vessel “Global 1200” from Keppel Singmarine in Singapore and expects to put the

sister-vessel “Global 1201” into service in 2011. “Global 1200” is a next generation multi-purpose DP-2 construction vessel designed for work in both deep and shallow water. The vessel incorporates a state-of-the-art S-lay pipelay system capable of operating up to 3,000m water depth and handling up to 60 in. concrete coated pipe. The vessel also incorporates an AmClyde PC-37 1,200 metric ton capacity crane suitable for conventional platform installations and a deep water lowering system also capable of operating up to 3,000m water depth plus AmClyde MSB-12 revolving cranes for pipe handling. Vessel is fitted with a 105.2m fixed displacement controlled stinger. “Global 1200”, sized for passage through both Panama and Suez Canals, offers transit speeds up to 15 knots for swift and economic mobilizations to work destinations across the globe. As a new build vessel, the “Global 1200” provides the latest technology in DP systems/mission equipment along with high standards in living accommodations for 264 persons. Machinery consists of three 4,409kW and three 3,919kW main engines driven by MAN diesels plus one 1,000kW auxiliary generator. These are

coupled to two 4,500kW propulsion and five 2,400kW retractable plus one 880kW tunnel thruster. Global Industries wholly owned subsidiary, Global Offshore International, Ltd., has been awarded a contract from Dubai Petroleum Establishment to perform the Al Jalilah Platform and Pipelines EPC project. The project, which should be completed in the first half of 2011, covers the design, construction and installation of a basic unmanned offshore wellhead platform, one 27 km x 6” gas lift pipeline, and one 27 km x 12” oil production pipeline to one of Dubai Petroleum's existing offshore processing facilities. Global intends to utilize the newly built Global 1200 for the project.


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Dubai-based Drydocks World has launched the “Nora” jack-up construction vessel at its Graha yard in Indonesia. Drydocks said the vessel was fully self contained and could install offshore structures weighing up to 7,200 tonnes and replaced the need for crane and accommodation vessels normally used in offshore construction. The “Nora” has two pedestal cranes, each with 750 tonne capacity, and is capable of carrying up to 260 people. “This type of vessels provide a safer, environmental friendly, and cost effective alternative for load out, transportation, offshore installation and hook up of offshore structures,” the company said in a statement. The 112m long vessel

was built for Norway’s Master Marine and designed by Global Maritime. On completion next year, the vessel will commence a contract to install 88 wind turbines at the U.K.'s Shearingham Shoal field for Scira, a joint Statoil/Statkraft venture. Classed by ABS, “Nora” is DP2 equipped and can jack-up in 80m water depth. It has an open deck area of 2,500m2 and has accommodations for up to 260 people. It will be equipped with two pedestal cranes, each of 750T capacity. The vessel has a hull length of 110m and breadth of 50m. It has four 130m long legs and the spud can area of each leg is 180m2. “Haven” (L205), the first of the two innovative jack-up construction vessels ordered in 2007 was delivered from the Graha shipyard at Batam, Indonesia last June. The vessel is now in Arendal, southern Norway completing preparations for an assignment as an accommodation unit in the North Sea. The Master Marine owned jack-up hotel platform was transported from Indonesia to Norway aboard Dockwise’s heavy-lift vessel “Treasure” for final outfitting and completion work. Master Marine entered into an employment contract with ConocoPhillips in Norway for use of the jack-up as temporary accommodation at Ekofisk field in Norwegian sector of the North Sea for three years plus option periods. Scheduled startup offshore is 4th quarter 2010. On 19 October 2010, MPI Offshore, a subsidiary of the Vroon Group, celebrated a further milestone in the construction of the state-of-the-art wind turbine installation vessel “MPI Adventure” with the installation of the 1,000-tonne-capacity main crane. The main crane, which was designed by Gusto MSC of the Netherlands, was constructed in China and transported to Cosco Nantong Shipyard by barge. Following arrival at the shipyard, the construction teams executed with pinpoint accuracy the lifting of the crane from the barge and placement of

the "back mast" of the crane in its final position on the main deck of the vessel. The next stages in the overall installation of the main crane will be the mounting of the crane boom, crane wires and final commissioning activities. The main crane will be the "work horse" of the “MPI Adventure” and will be capable of lifting loads up to 1,000mt to a height of more than 100m. These specifications have been chosen in order to prepare MPI Offshore for the challenges of the offshore wind industry in the coming years. The high specification of the main crane ensures that MPI Offshore will be able to respond to the ongoing evolution of wind power technology which results in the

development of ever higher capacity, more efficient and heavier wind turbines. The electro-hydraulic main crane weighs over 400mt. Both main hoist crane wires are constructed from 48-mm steel wire rope and are each almost 1.5 kilometers long. Whilst the majority of the crane's work will take place when the installation vessel is in the jacked-up position, the main crane will also be capable of significant lifting performance whilst the vessel is in the floating position, either at sea or in port. Following the arrival of “MPI Adventure” in European waters during the early Spring of 2011, the main crane will "cut its teeth" during the installation of monopile foundations for the London Array Offshore Wind Farm Project. The London Array Wind Farm will be built approx. 20km off the coast of Kent and Essex in the United Kingdom. The Wind Farm is scheduled for completion in two phases. Phase One, planned to be completed in 2012, will cover 90 square kilometers and include 175 turbines, with a combined capacity of 630 megawatts.


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Off The Blocks Following is a list of AHTSs, offshore supply and PSVs on order at U.S. shipyards per MarineLog and Colton Company, as of December 2nd. The list shows 35 vessels on order in the U.S., 14 less than our last report in August. Canadian shipyard contracts are now being listed. One PSV is on order at Irving Halifax.

Type of Vessel Customer Yard # Name Description Price ($mm) Delivery

Eastern Shipbuilding, Panama City FL

OSV Harvey Gulf Marine 161 292 ft. 11-Aug

OSV Harvey Gulf Marine 162 292 ft. 12-Feb





PSV Aries Marine Dwight S. Ramsay 292 ft.

PSV Aries Marine 292 ft.

North American Shipbuilding, Larose LA

Icebreaking AHTS Edison Chouest Offshore 247 368 ft. 2012

PSV Edison Chouest Offshore 246 280 ft. 2010

North American Shipbuilding, Exact Shipyard Unknown

PSV Edison Chouest Offshore 264 280 ft.







PSV Edison Chouest Offshore 300 ft.










Quality Shipyard, Houma LA

PSV Tidewater Marine 1273 Cindy Brown Tide 265 ft. 12-Feb

Riverhawk Fast Sea Frames, Tampa FL

OSV U.S. Navy (for Iraqi Navy) 197 ft. 35 11-Dec

OSV U.S. Navy (for Iraqi Navy) 197 ft. 35 11-Dec

Thoma-Sea Shipbuilders, Lockport LA

PSV Gulf Offshore Logistics 300-ft. 2012



PSV Gulf Offshore Logistics 300-ft. 05-Jul

VT Halter Marine, Pascagoula MS

PSV L. & M. BoTruc 1997 230-foot 25 10-Sep

Irving Halifax, Halifax Nova Scotia

PSV Atlantic Towing UT 755 LN 2010


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News A year after a shipbuilding contract dispute emerged between Otto Marine unit Otto Offshore and GC Rieber Shipping ASA, a settlement has been reached. Otto Marine announced that it has entered into a “mutually beneficial global settlement” with GC Rieber, which includes settling the claims from last year and terminating the joint venture agreement for Polar Marine II Pte Ltd - the firm that is 49% owned by Otto Marine and 51% owned by GC Rieber. The joint venture included four vessels and as part of the settlement, Otto Offshore will take over three of them while GC Rieber will take over the remaining one. Of the three vessels, Otto Offshore had chartered out one and also announced that it had agreed to sell another one for 24.1 million Euros (S$43.8 million). The sale is not expected to have a material impact on the consolidated net tangible assets per share or earnings per share of Otto Marine for its financial year ending Dec 31, 2010. Prior to the dispute, Otto Marine and GC Rieber had entered into a joint venture to operate and manage vessels on charter through their joint venture vehicle, Polar Marine II. The dispute over a 23.5 million euro contract came to a head in October last year, during what had already been a dismal time for the offshore sector. Otto Offshore had tried to postpone the delivery of a vessel to Polar Marine II to Oct 30, 2009. On Sept 25, 2009, Polar Marine II had in turn told Otto Offshore that if the refund guarantee under the shipbuilding contract was not extended before Sept 27, it would issue a notice of cancellation and make a claim on the refund guarantee. Polar Marine II also undertook to withdraw the notice of cancellation and the claim under the refund guarantee - if the refund guarantee were to be extended on or before Oct 1, 2009. Polar Marine went on to both issue a notice of cancellation and make a claim on the refund guarantee two days later. On Sept 28, 2009, Otto Offshore extended the refund guarantee, but Polar Marine refused to withdraw the notice of termination and its demand under the refund guarantee, as it had previously undertaken to. This resulted in Otto Offshore serving an arbitration notice on Polar Marine II - in which management and control was maintained by GC Rieber.

At 10:00am on 5th October 2010, a keel-lay ceremony of 58.7m AHTS Vessel YX3139 was held at Yuexin Shipbuilding Co., Ltd. in Guangzhou. With length overall 58.7m, breadth moulded 11.6m, depth moulded 5.36m and draft 5.81m, the vessel can satisfy the requirement of anchor handling, supply and so on. The vessel is classed BV +A1(E),Hull, Supply Vessel, Fire Fighting Ship. Bollard pull is 65T and speed is up to 13.5 knots.

Sinopacific Group has contracted Cargotec to supply a further 16 sets of anchor-handling systems for newbuilding anchor handling and tug supply vessels at a cost of region Euro 10 million. The equipment is due for delivery between April 2011 and February 2012. In June Cargotec won an order for systems for four ships in the same series, the first set of which is scheduled for delivery in 1Q 2011. The vessels, based on an SPA80 design, are under construction at Zhejiang Shipbuilding Co., Ltd. of Ningbo, China for French offshore oil and gas services

company Bourbon. “The systems employ proven technologies already specified for 54 Bourbon Liberty 200 series AHTS vessels, of which more than 30 have been delivered so far,” said Francis Wong, Cargotec sales director for offshore load handling. Equipment being supplied includes anchor windlass, anchor handling/towing winch, tugger winches, capstans, storage reel, power pack, and shark jaws/towing pins. The Bourbon Liberty 200 class is a 59.8m x 15.0m x 5.5m depth, DP-2 diesel electric AHTS with a bollard pull of 82.5 tonnes designed by Guido Perla & Associates.


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Corporate News Bourbon’s third quarter revenues came to Euro 222.2 million, up 6.4% compared with the same period in 2009 (2% at constant exchange rates). Revenues are up 2.8% compared with the previous quarter. During the first nine months, Bourbon revenue growth increased by 1.9% (1.2% at constant exchange rates) compared with the same period in 2009. Two quarters of revenue growth for Bourbon vessels have now been recorded, following two quarters of decline (Q4 2009 and Q1 2010). Compared with the third quarter of

2009, the 6.5% increase in revenues for the third quarter of 2010 reflects the following contrasting factors: deterioration of market conditions; an 11.9% increase in revenues from Bourbon vessels (Q3 2010 compared with Q3 2009); the commissioning of 69 new vessels (including 28 Bourbon Liberty) over the last twelve months; and a more favorable €/$ exchange rate. In the first nine months of 2010, revenues totaled 624.9 million Euros, up 1.6% compared with the same period in the previous year. Revenues from Bourbon vessels were 8.4% higher thanks to the major expansion of the fleet in unfavorable market conditions. Revenues from chartered vessels were down by nearly 37 million Euros. Activity on the American continent is expanding and Bourbon earned 11% of its revenues there in the first nine months of 2010, compared with 6.6% over the same period in 2009. As well as growth in activity in Mexico and Brazil, the buyout of 50% of Delba Maritima Navegação at the end of 2009 also made a significant contribution. Compared with the second quarter of 2010, revenues from Bourbon vessels increased by 4.1% despite a slight reduction in the fleet’s utilization rate, largely due to administrative difficulties encountered on importing the vessels to Brazil. The delay in implementing the contracts for the 8 Bourbon Liberty vessels and 5 crewboats chartered by Petrobras resulted from a disagreement between the Brazilian Ministries of Finance and Petroleum concerning exemptions from import duty for foreign vessels. It should be noted that for the last seven quarters, Bourbon has been steadily reducing the number of vessels chartered. Compared with the third quarter of 2009, revenues from Marine Services in the third quarter were up 4.9% at 175.7 million Euros. This is due to the expansion of the Bourbon fleet and the stronger dollar; and (ii) to less recourse to chartering in accordance with the Group’s strategy and the detrimental market conditions. In the first nine months of 2010, Marine Services revenues came to 500.2 million Euros, down 1.1% compared with the same period of 2009. This is due to the sharp reduction in chartering (-84.7%), with however revenues from Bourbon vessels increasing 7% thanks to the fleet’s expansion even though the market continued to be unfavorable. Compared with the second quarter of 2010, revenues from Marine Services were up 2.6% due to the commissioning of new vessels in the fleet and contract renewals in a market that continued to be difficult.

Compared with the third quarter of 2009, revenues from Subsea Services were up 13.1% totaling 45.4 million Euros, largely due to better performance of owned vessels and the full effect of the IMR vessel commissioned at the beginning of 2010. In the first nine months of 2010, revenues from Subsea Services were up 13.8% at 124.7 million Euros compared with the same period of 2009, due to the Bourbon vessels’ improved performance (contract renewals at higher rates and a greater range of services) and the full effect of the IMR vessel that joined the fleet at the beginning of 2010. Compared with the second quarter of 2010, revenues from Subsea Services were up 3.9% reflecting the significant improvement in Bourbon IMR vessels.

Generally, the quarter saw a progressive upturn in activity, particularly in West Africa and Brazil. However, oversupply of vessels kept up the pressure on daily rates but at the same time was favorable for the replacement of old vessels with modern vessels.


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In the third quarter of 2010, Bourbon’s fleet’s average utilization rate remained high at 79.2%. Excluding the Brazilian vessels, the average utilization rate for the fleet at 81.6% in the third quarter of 2010 was slightly higher than in the previous quarter. In the continental supply vessels segment, the utilization rate excluding the Brazilian vessels was very slightly up at 75.6%.

Bourbon's Offshore Fleet Utilization Rates

Q3 2010 Q2 2010 Q1 2010 Q4 2009 Q3 2009 Q2 2009 Q1 2009 Average utilization rate 79.20% 81.00% 78.10% 78.30% 82.70% 84.70% 88.30% IMR vessels 91.50% 89.80% 80.90% 90.40% 88.90% 88.60% 84.50% Deepwater supply vessels 90.40% 92.10% 89.40% 91.40% 94.50% 92.60% 93.60% Continental supply vessels 71.00% 75.40% 72.40% 80.60% 79.60% 86.60% 92.40% Crewboats 77.40% 78.60% 75.90% 73.20% 79.60% 81.70% 86.00%

“In a market environment that continues to be difficult, Bourbon can today report third-quarter 2010 revenue growth of 6.4%. This confirms the upturn in our Offshore activity, announced previously and already in evidence in the second quarter. It also confirms our strategic choices and reflects our unique positioning on the market. Our clients are enthusiastic about the new Bourbon vessels which are proving to be more innovative, safer and capable of keeping their operating costs down,” said Jacques de Chateauvieux, Chairman & Chief Executive Officer of Bourbon. “Bourbon predicted a gradual recovery in the oil companies’ activity in the second half of 2010 and more substantial growth in 2011. The activity of the third quarter confirms this trend. In this context and in line with the Group's policy of refocusing on offshore, the women and men of Bourbon are united in their efforts to implement the Bourbon 2015 strategic plan, synonymous with creation of value.”

Creditors of Trico Marine Services Inc. asked a judge to force some of the company’s foreign units into bankruptcy in the U.S. or to appoint a trustee to run the supplier of rented ships to oil and natural-gas drillers. Two funds that invest in distressed debt claim that before it filed

bankruptcy in August, Trico Marine shifted “a substantial amount of cash and other value” to subsidiary Trico Supply Group. That shift was a fraudulent transfer that deprived creditors of assets that could have been used to repay them, Arrowgrass Master Fund Ltd. and Arrowgrass Distressed Opportunities Fund Ltd. said in court papers in U.S. Bankruptcy Court in Wilmington, Delaware. Trico, based in Woodlands, Texas, is in bankruptcy for the second time in five years. After the company reorganized and cut debt in 2005, it left bankruptcy and eventually added more than $770 million in debt. None of Trico’s main foreign operating subsidiaries is in bankruptcy. The company said in June that it had assets of $904 million and liabilities of more than $1 billion. When Trico filed its most recent bankruptcy, the company blamed the economic slowdown and imminent interest payments. It listed assets of $30.6 million and debt of $353.6 million. The company added much of its debt in order to acquire another oil-services company, Active Subsea ASA. Through transactions from 2007 to 2010, Trico changed its business focus from providing towing services and supplies to off-shore oil drillers to undersea trenching and cable services, Arrowgrass said in court papers. Arrowgrass holds Trico’s 3% convertible debentures that mature in 2027. On December 16th Trico Marine Services, Inc. announced that it has reached an agreement with its major constituents concerning the process of selling Trico's remaining towing and supply vessels and any related operating assets, in accordance with previous public statements that Trico is exiting the towing and supply business. The United States Bankruptcy Court for the District of Delaware recently issued an Order approving the agreed upon sale process. Trico noted that the announcement excludes vessels owned by entities not part of its bankruptcy proceedings, including Trico's North Sea Towing and Supply vessels. The vessels Trico intends to sell include the “Spirit River”, “Hondo River”, “Palma River”, “Buffalo River”, “James River”, “Leigh River”, “Manatee River” and “Pearl River”, as well as related inventory. Trico may present acceptable offers for the sale of any vessels to the Court promptly upon agreement with a buyer. In order to procure the highest and best offer, Trico has been authorized by the Court to conduct an auction if multiple offers for the same vessel are received.


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Seacor Holdings Inc.’s net income for the quarter ended September 30, 2010 was $149.9 million on operating revenues of $979.8 million. For the nine months ended September 30, 2010, net income was $217.6 million on operating revenues of $2,069.0 million. Oil spill response activities following the sinking of the “Deepwater Horizon” in April defined this period's results as they reflect the significant combined response effort from several of Seacor's business units. Response activities are winding down and equipment, people, vessels and helicopters are being released from spill support activities. For the preceding quarter ended June 30, 2010, net income was $64.1 million on operating revenues of $694.6 million. For the quarter ended September 30, 2009, net income was $26.3 million on operating revenues of $446.1 million. For the nine months ended September 30, 2009, net income was $121.6 million on operating revenues of $1,234.8 million.

Seacor Holdings Rates & Utilization

2010 2009 2008

30-Sep 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 31-Dec 30-Sep

Fleet Count:

AHTS 20 20 20 23 21 21 21 20 20

Mini-Supply 12 12 11 11 11 12 15 16 19

Standby-Safety 26 26 25 25 24 24 28 29 29

Supply/Towing Supply 35 36 36 40 40 41 41 41 42

Day Rates:

AHTS $41,619 $40,592 $30,602 $34,293 $31,993 $36,486 $47,719 $43,558 $45,800

Mini-Supply $9,850 $9,641 $7,001 $7,452 $6,822 $6,286 $5,811 $6,152 $6,859

Standby-Safety $8,574 $7,861 $8,302 $8,733 $8,795 $8,522 $7,756 $8,376 $10,040

Supply $16,337 $14,402 $13,151 $14,748 $15,244 $14,716 $16,323 $17,020 $17,917

Towing Supply $10,798 $10,467 $11,967 $12,300 $12,202 $11,973 $11,581 $11,387 $11,135

Utilization:

AHTS 82% 89% 62% 58% 57% 66% 73% 83% 85%

Mini-Supply 90% 61% 54% 48% 54% 61% 73% 80% 80%

Standby-Safety 88% 88% 89% 91% 91% 88% 90% 91% 90%

Supply 86% 78% 78% 80% 66% 79% 82% 84% 90%

Towing Supply 73% 81% 76% 87% 84% 98% 90% 87% 95%

Available Days:

AHTS 1,675 1,729 1,710 1,748 1,673 1,547 1,506 1,540 1,547

Mini-Supply 1,012 1,001 990 1,012 1,046 1,319 1,378 1,664 1,748

Standby-Safety 2,300 2,222 2,160 2,208 2,208 2,184 2,160 2,147 2,116

Supply 1,748 1,729 1,710 1,748 1,834 1,820 1,800 1,885 1,942

Towing Supply 560 690 809 828 828 819 871 1,091 1,152

Offshore Marine Services Operating income in the third quarter was $69.3 million on operating revenues of $160.9 million compared with operating income of $42.9 million on operating revenues of $147.1 million the preceding quarter. Third quarter results included $12.7 million in gains on asset dispositions compared with $2.0 million in gains previously. Overall operating revenues were $13.8 million higher in the third quarter. Time charter revenues increased by $6.6 million to $138.2 million primarily due to the deployment of additional vessels in support of the “Deepwater Horizon” oil spill response. Other operating revenues were $7.2 million higher in the third quarter primarily due to the provision of other equipment and services associated with the “Deepwater Horizon” oil spill response and increased bareboat charter revenues. The number of days available for charter in the third quarter decreased by 120, or 1.0%, due to net fleet dispositions. Overall utilization increased from 77.4% to 83.5% and overall average day rates, based on time charter revenues recognized, decreased by 1.7% from $13,906 per day to $13,667 per day. In the U.S. Gulf of Mexico, time charter revenues were $33.4 million higher primarily due to higher average day rates and improved utilization as a result of demand for vessels to support the Oil Spill Response. Net fleet dispositions reduced time charter revenues by $6.4 million. Time charter revenues were also lower due to a softer market particularly for the AHTS fleet due to a reduction in rig moving activities. As of September 30th, Seacor had seven vessels cold-stacked in the U.S. Gulf of Mexico compared with four as of June 30th.


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Hornbeck Offshore Services’ third quarter 2010 revenues increased 39.2% to $125.4 million compared to $90.1 million for third quarter 2009 and increased 12.1% compared to $111.9 million for second quarter 2010. Operating income was $43.3 million, or 34.5% of revenues, for third quarter 2010 compared to $27.1 million, or 30.1% of revenues, for the prior-year quarter; and $34.5 million, or 30.8% of revenues, for second quarter 2010. Net income for third quarter 2010 was $18.2 million compared to $13.8 million for the year-ago quarter; and $13.0 million for the second quarter of 2010. EBITDA for third quarter 2010 was $63.1 million compared to third quarter 2009 EBITDA of $43.6 million and second quarter 2010 EBITDA of $54.1 million. The year-over-year increase in revenues, operating

income, EBITDA and EPS was primarily due to incremental revenues from the vessels placed in service since September 2009 under Hornbeck’s newbuild and conversion programs. Revenues from the Upstream segment were $112.0 million for the third quarter of 2010, an increase of $38.3 million, or 52.0%, from $73.7 million for the third quarter in 2009 and an increase of $11.5 million, or 11.4%, from $100.5 million for the second quarter of 2010. The vessels placed in service since the third quarter of 2009 under Hornbeck's newbuild and conversion programs accounted for a $33.3 million increase in Upstream revenues. The remaining $5.0 million increase in Upstream revenues is from Hornbeck's new generation OSVs and MPSVs that were in service during each of the quarters ended September 30, 2010 and 2009. Upstream operating income increased $16.3 million to $40.1 million, or 35.8% of revenues, for the third quarter of 2010 from $23.8 million, or 32.3% of revenues, for the third quarter of 2009. Average new generation OSV dayrates for the third quarter of 2010 were $21,628 compared to $20,915 for the same period in 2009 and $23,874 for the second quarter of 2010. Hornbeck's second-quarter 2010 new generation OSV dayrates were favorably impacted by certain non-recurring revenues for one of its specialty service vessels unrelated to the oil spill response efforts in the U.S. Gulf of Mexico. Excluding these revenues for the sake of comparability to other periods, Hornbeck's new generation OSV average dayrates for the sequential period would have been $20,628. The increase in third-quarter 2010 dayrates over the prior-year quarter and the adjusted sequential quarter was

largely due to higher temporary demand related to oil spill response activities. During the third quarter of 2010, Hornbeck had as many as 11 OSVs and four MPSVs assisting with oil spill-related activities, which represented nearly 30% of the total Upstream vessel-days worked. As of November 1, 2010, only seven new generation OSVs and one MPSV remained on charter related to oil spill response activities, which are in various stages of winding down over the next one to six weeks. New generation OSV utilization was 75.7% for the third quarter of 2010 compared to 71.9% during the year-ago quarter and 71.8% for the sequential quarter. The increase in utilization was driven by oil spill response activities, which was partially offset by having 469 days out-of-

service related to stacked vessels and approximately 326 days of aggregate downtime related to customer-required modifications and pre-positioning of five vessels that were mobilized to Latin America during 2010 for multi-year charters. These five vessels commenced their charters with Petrobras in late September 2010. Hornbeck had five new generation OSVs stacked as of September 30, 2010 compared to seven vessels stacked as of June 30, 2010. Hornbeck had an average of 5.1 stacked new generation OSVs during the third quarter of 2010 compared to quarterly averages of 6.0 stacked vessels during the year-ago quarter and 7.4 stacked vessels during the sequential quarter. Effective new generation OSV utilization for Hornbeck's active fleet, which excludes the impact of stacked vessels, was 84.2% for the third quarter of 2010 compared to 83.2% for the year-ago quarter and 84.5% for the sequential quarter.


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Hornbeck Offshore Services’ Utilization & Day Rates

2010 2009 2008


Number Vessels 50.3 49.5 48.5 46.2 44 42.1 40.6 38.3 36.8

Avg. Dwt 2,510 2,505 2,499 2,483 2,469 2,452 2,389 2,352 2,333

Utilization 75.70% 71.80% 72.90% 73.10% 71.90% 83.60% 93.00% 96.40% 96.10%

Avg. Dayrate $21,628 $23,874 $19,986 $19,880 $20,915 $21,330 $23,085 $24,385 $23,884

Hornbeck's full-year 2010 Upstream guidance includes a partial-year contribution from new vessels delivered in 2010 under its MPSV program and its fourth OSV newbuild program in accordance with the actual newbuild delivery results discussed below. With the September 2010 delivery of the DP-2 “HOS Wildwing”, Hornbeck now owns 51 new generation OSVs. The vessel additions under the fourth OSV newbuild program, which is now complete, should result in an average new generation OSV fleet complement of 51.0 and 49.9 vessels for the fourth quarter of 2010 and the full fiscal year 2010, respectively. As of September 30, 2010, Hornbeck had five inactive new generation vessels stacked and expects to stack at least four additional new generation OSVs during the fourth quarter as such vessels are released from their oil spill relief spot charters. The current Upstream guidance gives effect to a quarterly average of 7.7 and an annual average of 7.1 new generation OSVs being stacked for the fourth quarter and full fiscal year 2010, respectively. Accordingly, Hornbeck's active fleet of new generation OSVs, which averaged 39.2 vessels for fiscal 2009, is expected to average 43.3 vessels for the fourth quarter of 2010 and 42.8 vessels for the full fiscal year 2010. Fleetwide average new generation OSV dayrates are anticipated to be in the $20,000 to $22,000 range and fleetwide new generation OSV utilization for the 49.9-vessel fleet is anticipated to average in the 70% to 75% range during the full fiscal year 2010 guidance period. This average utilization for fiscal 2010 estimate contemplates approximately 2,574 aggregate days out-of service related to stacked vessels and approximately 962 days of aggregate downtime, all of which were incurred during the first nine months of 2010, related to customer-required modifications and pre-positioning of the eight vessels that have mobilized to Latin America during 2010 for multi-year charters. Hornbeck expects that cash operating expenses per OSV vessel-day in fiscal 2010 will be in-line with fiscal 2009 levels for vessels that were in service for each of the past two years, excluding contract-related costs-of-sales recoverable through higher dayrates or other revenue. However, Hornbeck may incur repositioning expenses that are not recoverable through charter hire in connection with the relocation of some of its vessels into international markets. Hornbeck expects maintenance capital expenditures and other capital expenditures to be approximately $30.5 million and $19.4 million, respectively for the full-year 2010. Over the next few years beyond 2010, Hornbeck expects that its annually recurring maintenance capital expenditure budget for its growing fleet of vessels will range between $35.0 million and $45.0 million per year. Hornbeck's fourth OSV newbuild program consisted of vessel construction contracts with three domestic shipyards to build six 240 ED class OSVs, nine 250 EDF class OSVs and one 290 class OSV, respectively. With the September 2010 delivery of the ninth 250 EDF class OSV, the “HOS Wildwing”, Hornbeck's fourth OSV newbuild program is now complete and the aggregate cost of this program was approximately $431.5 million. From the inception of this program through September 30, 2010, Hornbeck has incurred $431.2 million of total expected project costs, including $4.0 million incurred during the third quarter of 2010. The final remaining $0.3 million of project costs was paid during the early fourth quarter of 2010.


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GulfMark Offshore, Inc.’s September 30, 2010 quarter ended revenue was $94.5 million and net income was $19.2 million. The results for the quarter ended September 30, 2010, include a gain of $5.2 million, on the sale of the 1998-built “North Traveller”, a PSV operating in the North Sea. Revenue for third quarter 2010 was $94.5 million, an increase of 2%, or $1.7 million, over second quarter 2010. Average day rate in each of the three operating segments increased on a sequential quarterly basis; however, utilization was lower in all three regions for the same period. Utilization was impacted by increased drydock activity, particularly in the North Sea and the Americas. Also, during the quarter, GulfMark repositioned certain vessels out of the Gulf of Mexico, including relocating four

vessels to Brazil to begin long-term contracts with Petrobras, which adversely impacted utilization in the Americas. Revenues increased $3.7 million, or 4.1%, compared to third quarter ‘09. The increase in revenue was due mainly to higher capacity and utilization offset by lower day rates. Revenue increased by $2.5 million as overall capacity increased primarily as a result of the addition of two new builds in the North Sea and the full quarter effect associated with the addition of a new build in Southeast Asia in ‘09. In addition, overall utilization increased from 73.1% in third quarter ‘09 to 83.1% in the current year quarter positively affecting revenue by $6.2 million. These increases were offset by the combination of the currency effect and the decrease in overall day rates from $19,077 to $16,710 in the current year quarter, which decreased revenue by $5.0 million. Bruce Streeter, President and CEO, commented, "The third quarter was better than we expected. The decrease in drilling activity in the Gulf of Mexico was offset by prolonged spill response work, but as the quarter progressed, particularly in September, we began to feel the impact of the drilling moratorium. In the Gulf of Mexico, we, along with everyone else, lack a clear understanding of the near-term activity levels. As such, the outlook for the remainder of 2010 remains uncertain. As previously disclosed, we have taken steps to relocate a portion of our U.S. fleet to Trinidad, Mexico and Brazil, and we will continue to look at selectively relocating vessels to other markets. We expect that our results for the fourth quarter will be adversely impacted by the drilling moratorium. The expiration of the drilling moratorium is positive, but until the de facto moratorium created by the unwillingness of the BOEM to issue drilling permits is changed, our near-term outlook for the Gulf of Mexico will be weak. In addition, our long-term outlook for the Gulf of Mexico will continue to deteriorate the longer the de facto moratorium remains in place. Our international operations have performed well. The North Sea had a solid third quarter. Revenue and average day rates were up nicely in both the Norwegian and U.K. sectors of the North Sea. Excluding the impact of the delivery of the Sea Valiant and the Sea Victor into Southeast Asia, quarterly utilization was 98% in that region. Southeast Asia has seen a sharp increase in the supply of vessels during 2010, and that increase in supply is likely to continue to impact utilization in that region over the next few quarters. The newly delivered vessels have arrived in Southeast Asia and are ready for work, but have not yet obtained employment. Despite the lack of benefit from the new vessels, day rates, and more importantly revenue, for Southeast Asia have both increased on a sequential quarterly basis." Mr. Streeter continued, "We remain optimistic about the future, although we expect that the fourth quarter will be a soft quarter, impacted by the de facto drilling moratorium and seasonality in the North Sea. Our focus is on longer-term positive developments. The current price of oil should continue to increase drilling and exploration expenditures, and activity in the international marketplace. GulfMark's existing international presence allows us to capture the short-term, and more importantly, the longer-term benefit of continued international expansion. We feel that deepwater drilling in the Gulf of Mexico will rebound once the industry receives regulatory clarity, and this clarity combined with a general economic recovery should provide a strong global marketplace for our vessels. Maintaining a young, technologically advanced fleet results in enhanced utilization throughout the cycle, and we continue to look for those new projects and investments that meet our customers' expectations and improve our fleet value, mix and earning capacity."

In the North Sea, revenue increased $1.1 million to $38.3 million for the quarter. The average day rate increased 7% from the second quarter to $17,637. Of this percentage increase in day rate, approx. 4% was due to foreign currency effect of a weakening U.S. dollar. Utilization in the North Sea decreased 4% from the prior quarter.


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Revenue for the third quarter in Southeast Asia was $17.9 million, up 6%, or $1.0 million, from the prior quarter. The average day rate in the region was $16,841, up slightly from the respective second quarter average. Utilization in Southeast Asia was 85.2%, down 8% sequentially. Utilization in Southeast Asia was impacted by the delivery of the last two vessels in the new-build program. After delivery in Poland in late June, these two vessels were transitioned to Southeast Asia. Revenue in the Americas was down $0.5 million to $38.3 million for the quarter. The average day rate was $15,830, up 17% from the second quarter average. However, utilization in the Americas decreased 16 percentage points to 76% for the third quarter. Utilization in the Americas was adversely impacted by the drydocking and subsequent relocation of four vessels to Brazil during the quarter. Revenues in the North Sea region decreased by $2.4 million, or 5.8%, to $38.3 million in the third quarter of 2010. The combination of the strengthening of the U.S. Dollar and the decrease in day rates from $20,171 in third quarter ‘09 to $17,637 in the current year quarter, contributed $4.4 million to the decrease in revenue. Although utilization increased from 90.5% in the 2009 third quarter to 91.6% in the current year quarter, the overall mix of lower day rates and utilization effect resulted in a decrease in revenue of $0.6 million. This was offset by increased capacity from the addition of two newbuild vessels in late ‘09 and early 2010, contributing $2.6 million to revenue compared to the prior year quarter. Operating income increased $2.1 million from the prior year quarter due mainly to a $5.2 million gain on sale of a vessel at the end of the third quarter, current year offset by higher drydock expense of $0.8 million.

GulfMark Offshore’s Utilization & Day Rates

2010 2009 2008


Utilization

North Sea 91.6% 95.1% 90.2% 87.2% 90.5% 93.1% 84.5% 96.8% 94.1%

Southeast Asia 85.2% 92.8% 83.1% 93.1% 85.8% 93.8% 87.2% 99.2% 97.2%

Americas 76.0% 91.7% 79.8% 64.8% 57.3% 79.9% 92.9% 95.7% 93.9%

Avg. Day Rates

North Sea $17,637 $16,478 $16,771 $17,173 $20,171 $21,199 $21,073 $21,176 $23,449

Southeast Asia $16,841 $16,817 $18,039 $20,105 $21,180 $21,201 $20,699 $19,928 $18,844

Americas $15,830 $13,486 $13,362 $14,395 $16,894 $15,704 $17,302 $17,090 $16,815

No. Vessels

North Sea 25.7 25.2 25.3 24.4 24.0 25.0 25.9 26.3 27.0

Southeast Asia 13.9 12.1 12.0 12.0 11.7 11.0 11.2 11.3 12.8

Americas 35.0 35.3 36.0 36.0 35.8 34.8 33.2 32.7 31.0

The Americas region revenues increased by $7.3 million, or 23.7%, to $38.3 million in third quarter 2010. Utilization increased from 57.3% in third quarter ‘09 to 76.0% in the current year quarter; however, day rates decreased from $16,894 to $15,830. The mix of higher utilization with higher day rate vessels increased revenue by $8.3 million. This was offset somewhat by the sale of a vessel earlier in 2009, which decreased capacity by $1.0 million. Operating income was $7.1 million in the third quarter of 2010 compared to $1.1 million in the third quarter of 2009, an increase of $6.0 million. The increase is due mainly to the increase in revenue offset by increased operating and drydock expenses incurred on four Gulf of Mexico vessels prior to relocating to Brazil. Revenues for GulfMark’s Southeast Asia based fleet decreased by $1.2 million to $17.9 million in the third quarter of 2010. The combination of currency effects and the decrease in day rates from $21,180 in the third quarter of 2009 to $16,841 in the current year quarter contributed $3.8 million to the decrease in revenue. Utilization decreased slightly from 85.8% in the third quarter of 2009 to 85.2% in the current year quarter due mainly to the new vessel additions that are currently idle; however, revenue increased by $1.6 million as a result of the overall positive mix of day rates and utilization. The increased capacity associated with the full quarter effect of the addition of a new build vessel during the third quarter of 2009 also increased revenue by $1.0 million. Operating income was $11.1 million in the third quarter of 2010 compared to $13.2 million in the same 2009 quarter. The decrease is due mainly to the decrease in revenue; in addition, operating costs increased by $0.7 million and depreciation increased $0.6 million, primarily as a result of two new build vessels added in 2010. Drydock costs decreased $0.6 million due to fewer drydock days.


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Tidewater Inc.’s second quarter net earnings for the period ended September 30, 2010 were $19.4 million on revenues of $267.1 million. For the same quarter last year, net earnings were $98.2 million inclusive of a $34.3 million tax benefit resulting from a favorable resolution of tax litigation, on revenues of $295.5 million. The immediately preceding quarter ended June 30, 2010, had net earnings of $39.8 million on revenues of $262.5 million. As an international company that derives over 90% of its revenues from operations outside of U.S. territorial waters, Tidewater believes that the overall impact of the “Deepwater Horizon” will not have a significant immediate direct impact on their overall operations or financial performance. Less than 9% of their total fleet operates in the U.S. Gulf of Mexico, and, if necessary, these vessels can be mobilized to serve other markets if demand for their services does not continue to exist in the U.S. Gulf because of any precipitous and long-term reduction in the level of drilling and exploration activity in that region. During the quarter and the six-month period ended September 30, 2010, vessel day rates in the U.S. Gulf trended higher due to the strong demand for vessels to assist with the oil spill response effort since the April explosion and collapse of the rig. All of Tidewater’s available-for-work U.S. segment vessels were working at relatively high utilization rates which helped drive utilization rates higher for the quarter and six-months ended September 30, 2010 as compared to the same periods during fiscal 2010. Although the U.S. government lifted the moratorium on deepwater drilling and permitting on October 12, 2010, new regulations of the Bureau of Ocean Energy Management calling for additional safety measures and inspections continue to create uncertainty as to when permits will be issued and

drilling activity recommences. However, since the rig explosion, the approval process on the non-deepwater drilling permits has slowed significantly, and it is anticipated that the permit approval process for deepwater drilling will also be slow. Over the longer term, Tidewater, like others that operate in the U.S. Gulf, are concerned over impacts on exploration and field development (and particularly deepwater exploration & field development) and operating costs resulting from the new safety standards and other regulatory responses to the rig explosion and spill. The new rules and requirements could reduce the level of drilling activity and suppress the demand for services, which could have a material adverse effect on United States operations. In addition, Tidewater notes that legislation has been

introduced in both houses of Congress that could have an impact on offshore drilling, although the likelihood that such legislation will be adopted, or the impact it could have, cannot be gauged at this time. If E&P activity migrates from the U.S. Gulf to international markets because of additional regulation and higher operating costs in the U.S. Gulf of Mexico, it is also possible that other offshore supply vessel owners will redeploy additional vessels to international markets. This will likely increase competition and have a negative effect on vessel utilization and day rates in international markets. The primary driver of Tidewater’s business, and therefore revenues, is the level of their customers' capital and operating expenditures for oil and natural gas exploration, field development and production. These expenditures, in turn, generally reflect customers' expectations for future oil and natural gas prices, economic growth, hydrocarbon demand and estimates of current and future oil and natural gas production. The prices of crude oil and natural gas are critical factors in exploration and production (E&P) companies' decisions to contract drilling rigs and offshore service vessels in the U.S. Gulf of Mexico or in international markets, with the international market being driven by supply and demand for crude oil, and the U.S. Gulf being influenced both by the supply and demand for natural gas (in regards to shallow water activity) and the supply and demand for oil (in regards to deepwater activity).


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Prices for crude oil and natural gas fell dramatically from respective peaks achieved in calendar year ‘08 due to a global recession that caused a precipitous drop in worldwide demand for oil and gas. In response to lower demand and weaker commodity prices, E&P companies reduced capital spending budgets which caused demand for offshore support vessel services to decline. This reduced demand led to an industry-wide reduction in vessel utilization rates and to a corresponding industry-wide reduction in vessel charter rates as customers demanded pricing concessions. Although there have been signs of improvement in the global economy since late calendar ‘09, the pace of recovery has been slower than many expected and demand for energy continues to lag. Assessing the current market environment in the near term is challenging given the continuing uncertain forecast of future global economic conditions and continuing volatility in the financial and commodity markets. Tidewater continues to evaluate trends in the economy to determine how trends are affecting development plans of E&P companies and global demand for offshore vessels. Oil prices gradually recovered and stabilized in the range of $75 to $85/bbl during the first nine months of calendar year 2010 due to signs of improvement in the global economy and, in part, because OPEC reduced crude oil production targets by more than 6.0% over the last 21 months in an effort to stabilize crude oil prices. During the most recent OPEC meeting, which was held in mid-October 2010, OPEC officials decided to keep its existing production targets. Tidewater expects that utilization and day rates for internationally-based vessels will continue to be closely correlated with oil prices, drilling and exploration activity and the resulting demand for vessels in the various international markets.

The number of deployed drilling rigs in the U.S. offshore market is generally the primary driver of the Tidewater’s expected activity levels and future profitability in the U.S. market. The offshore rig count in the U.S. Gulf remains at historically low levels, in part because the strength of the international drilling market has attracted numerous offshore drilling rigs from the U.S. to various international markets over the past several years. Exploration and field development activity in the U.S. Gulf of Mexico had fallen off significantly, particularly in shallow water. As a consequence, demand for offshore marine vessels in the shallow water U.S. Gulf diminished over the past few years and declined further in late calendar year 2008 and into 2009 due to the weaker demand for energy discussed earlier. Prior to the catastrophic explosion of the “Deepwater Horizon” drilling rig (and the resulting oil spill and drilling moratorium), exploration and field development activity in the deepwater areas of the U.S. Gulf was reasonably strong despite weak overall market fundamentals. As described below, the “Deepwater Horizon” incident, and potentially wide-ranging regulatory responses to the incident may have a material impact on activity levels, particularly in deepwater areas. Other than the impact of new regulations, the company's U.S.-based vessel fleet should be affected more by the active offshore rig count in the U.S. than by any other single outside influence.

Natural gas prices, which in mid-October 2010 were trading in the $3.45 - $3.96 Mcf range, trended higher during calendar year 2010 compared to 2009 due to stronger demand from the industrial sector and higher consumer demand resulting from a colder-than-normal winter in the early part of the year and a hotter-than-normal spring and summer in North America. Although the positive trend bodes well for activity in the mid and

shallow water depths of the U.S. Gulf market in the near-term, the rise in production of unconventional gas resources in North America and the commissioning of a number of new large LNG exporting facilities around the world are contributing to an over-supplied natural gas market, which exerts downward pricing pressures on the resource. While production from unconventional sources is a relatively small portion of the worldwide natural gas production, it is expected to grow. Despite recent increases in demand for natural gas, inventories for the resource in the U.S. continue to be oversupplied. High inventory levels are attributable to the increase of unconventional gas in the market, as well as a reduction in demand for

the resource due to the global recession. Prolonged increases in the supply of natural gas, whether the supply comes from conventional or unconventional production will exert downward pressures on prices for natural gas. A prolonged downturn in natural gas prices can negatively impact exploration and development plans, which in turn, would result in a decrease in demand for offshore support vessel services, primarily in the U.S.


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Despite generally negative commodity price fundamentals, during the quarter and the six-month period ended September 30th, vessel day rates in the U.S. Gulf offshore vessel market trended higher as supply/demand tightened due to the strong need for vessels to assist with the U.S. Gulf oil spill response effort following the “Deepwater Horizon” explosion in April 2010. Increased demand for vessels helped drive utilization rates for the Tidewater’s U.S. segment higher during the quarter and the six-month period ended September 30, 2010, as compared to the same periods during fiscal 2010. All of Tidewater’s available-for-work U.S. segment vessels were working at relatively full utilization, including a number of vessels assisting with the oil spill containment effort that was underway during this period. By September 30th, vessel demand related to the oil spill containment effort had declined significantly. Historically, when the U.S. market weakened, Tidewater would redeploy some of its highly mobile assets to international markets where, market conditions permitting, the vessels could benefit from stronger demand and average day rates and from statutory income tax rates that are generally lower than those in the U.S. Given the current challenges in international markets, Tidewater’s ability to mitigate the effects of a weak U.S. Gulf market by redeploying vessels to other markets has been reduced. The company continues to assess the demand for vessels in the U.S. Gulf and in the various international markets and may relocate additional vessels to international areas and between international areas if and when the need arises.

While longer-term regulatory responses to the “Deepwater Horizon” incident are unknown at this time, in recent years, international deepwater has been a growing part of the worldwide offshore crude oil and natural gas markets and a source of growth. International deepwater did not experience significant negative effects from the recent global economic recession, largely because deepwater oil and gas development typically involves significant capital investment and multi-year development plans. As a result, such projects are generally underwritten by the participating exploration, development and production companies using relatively conservative assumptions in regards to crude oil and natural gas prices and these projects are, therefore, less susceptible to short-term fluctuations in the price of crude oil and natural gas. During the past few years, worldwide rig construction increased as rig owners capitalized on the high worldwide demand for drilling. Reports published during the most recently completed quarter suggest that over the next four to five years, the worldwide movable drilling rig count (currently estimated at approx. 800 movable rigs worldwide, approx. 30% of which are designed to operate in deeper waters) will increase as approx. 115 new-build rigs that are currently on order and under construction are delivered. It is further estimated that approx. 50% of these new build rigs are intended to operate in deeper waters, suggesting that the number of rigs designed to operate in deeper waters could grow in the coming years by approximately one third. Investment is also being made in the floating production market, in which approx. 60 new floating production units are currently under construction and are expected to be delivered over the next four years and beyond to supplement the current approx. 330 floating production units worldwide. However, analysts have reported that contracts for several drilling rigs currently on order have been cancelled and/or delayed due to the uncertain economic outlook, which may reduce the number of rigs that are ultimately built and delivered. Moreover, to the extent the rigs are built and delivered, it is believed that the new build rigs will largely target international regions rather than the U.S. Gulf of Mexico due to longer contract durations, generally lower operating costs (including insurance costs) and higher drilling day rates available in the international markets. Future additional regulatory oversight and control with respect to offshore drilling in the U.S. Gulf following the explosion of the “Deepwater Horizon” may also increase the relative appeal of international markets.

According to ODS-Petrodata, the global offshore supply vessel market has approx. 380 new-build offshore support vessels (PSVs and AHTSs) at September 30, 2010, that are currently estimated to be under construction and that are expected to be delivered to the worldwide offshore vessel market primarily over the next two years. The current worldwide fleet of these classes of vessels is estimated at approx. 2,545 vessels. An increase in worldwide vessel capacity could have the effect of lowering charter rates, particularly in the context of declining levels of exploration, field development and production activity. However, the worldwide offshore marine vessel industry also has a large number of aging vessels, including more than 800 vessels that are at


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least 25 years old, that are nearing or exceeding original expectations of their estimated economic lives. These older vessels could potentially be removed from the market within the next few years if the cost of extending the vessels' lives is not economically justifiable. Although the future attrition rate of these aging vessels cannot be accurately predicted, the retirement of a sizeable portion of these aging vessels would likely mitigate the potential combined negative effects of new-build vessels on vessel utilization and vessel pricing. Additional vessel demand could also be created with the addition of new drilling rigs and floating production units that are expected to be delivered and become operational over the next few years, which should help minimize the possible negative effects of the new-build offshore support vessels being added to the offshore support vessel fleet. It is unknown at this time the extent to which the recovery from the recent worldwide recession will influence the utilization of equipment currently in existence or the ultimate timing of delivery and placing into service of new drilling rigs, floating production units and vessels currently under construction. Analysts have reported some offshore vessel construction contract cancellations as a result of the foregoing factors, which may reduce the ultimate number of vessels built and delivered.

Vessel revenues generated by Tidewater’s international segment decreased approx. 14%, or $79.2 million, during first half fiscal 2011 compared to the same period in fiscal 2010, while vessel revenues generated by the U.S. segment increased approx. $3.0 million, or 6%, during the same periods. International segment vessel operating costs increased approx. 6%, or $17.1 million, while Tidewater’s U.S. segment vessel operating costs decreased approx. 13%, or $3.8 million, in the first half of fiscal 2011 compared to the same period in fiscal 2010. A significant portion of Tidewater’s operations are conducted internationally; therefore,

international vessel operations are the primary driver of revenue and earnings. Revenues generated from international vessel ops as a percentage of total vessel revenues were 91% during first half fiscal 2011 and 92% during the same period in fiscal 2010.

Internationally-based vessel revenues decreased 11% and 14%, or $30.3 million and $79.2 million, respectively, during the quarter and the six-month period ended September 30, 2010, respectively, compared to the same periods in fiscal 2010, primarily due to an approx. 9% and 10% decrease, respectively, in utilization rates on these vessels due to weaker demand and fewer vessels operated internationally as a result of vessel sales, stacking of vessels, and the seizing of vessels by the Venezuelan government as previously disclosed. Average day rates for the internationally-based vessels were comparable and increased a modest 1% during the quarter and the six-month period ended September 30, 2010, respectively, as compared to the same periods in fiscal 2010, reflecting a change in the mix of vessels operating. As a general matter, leading edge day rates are declining across vessel classes; however, the impact of this decline on average day rate statistics is mitigated by a change in the mix of vessels that worked during the quarter and the six-month period ended September 30, 2010, relative to the quarter and the six-month period ended September 30, 2009. In particular, Tidewater added 45 new vessels to the fleet since the first quarter of fiscal 2010 and stacked 83 older, traditional vessels throughout fiscal 2010 and during the first half of fiscal 2011, and the traditional vessels generally earn lower day rates than newer vessels. As a result, the average working vessel during the quarter and the six-month period ended September 30, 2010 earned a higher average day rate than the average working vessel during the quarter and the six-month period ended September 30, 2009. Also, revenues decreased during comparative periods because of the loss of revenue from the seizure of Venezuelan operations in May and July of 2009.


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Quarterly Utilization and Average Day Rates for Tidewater Inc.

2010 2009 2008


Utilization Domestic

Towing/Supply 48.90% 44.10% 41.80% 35.80% 32.20% 39.40% 42.30% 49.00% 48.00%

International

Towing/Supply 55.20% 53.90% 56.70% 64.10% 71.10% 74.10% 74.60% 76.00% 75.70%

Offshore Tugs 55.10% 59.40% 56.80% 56.00% 60.40% 54.20% 66.80% 65.20% 60.40%

Avg. Day Rates

Domestic

Towing/Supply $8,268 $7,702 $7,413 $8,417 $9,623 $10,071 $12,402 $13,947 $12,867

International

Towing/Supply $11,975 $12,108 $12,259 $12,254 $12,428 $12,518 $12,787 $12,745 $12,375

Offshore Tugs $6,415 $6,402 $6,769 $6,654 $7,059 $7,744 $8,457 $8,149 $8,302

No. Vessels

Domestic

Towing/Supply 22 24 23 25 26 26 26 32 33

International

Towing/Supply 205 200 201 206 208 217 230 224 224

Offshore Tugs 27 27 27 25 24 28 30 32 33

Tidewater’s towing supply/supply and crew/utility class of vessels were responsible for the majority of the revenue decline realized during the quarter and the six-month period ended September 30, 2010 compared to the same periods during fiscal 2010. The towing supply/supply class of vessels accounted for approx. $41.7 million and $102.8 million of the revenue decline (an approx. 25% and 30% decrease, respectively) during the quarter and the six-month period ended September 30, 2010, compared to the same periods during fiscal 2010, due to lower utilization rates and average day rates resulting from weaker demand, vessel sales, and the seizure of vessels by the Venezuelan government. Increased revenue generated by Tidewater’s deepwater class of vessels partially offset revenue losses incurred by the other vessel classes operating in the international segment. Revenues earned by the deepwater class of vessels increased approx. 20% and 25%, or $14.5 million and $35.0 million, respectively, during the quarter and the six-month period ended September 30, 2010, respectively, compared to the same periods during fiscal 2010, due to relatively stable utilization rates and to an increase in the number of deepwater vessels operating in the international market. Vessel operating profit for internationally-based vessels decreased approx. 61% and 42%, or $47.6 million and $54.4 million, respectively, during the quarter and the six-month period ended September 30, 2010, compared to the same periods during fiscal 2010, due to 11% and 14% lower revenues, an increase of approx. 10% and 6%, or $13.6 million and $17.1 million, in higher operating costs (primarily crew costs, repair & maintenance costs, vessel operating leases and fuel, lube and supply costs compared to the same periods during fiscal 2010. Fuel, lube and supply costs were higher by approx. 10% and 14%, or $1.5 million and $3.8 million, during comparative periods, due to mobilizations on newly delivered vessels and because of vessels mobilizing from one international area to a different international area. International vessel operating lease costs increased approx. $0.2 million and $2.9 million, or 5% and 65%, during the comparative periods, because of six additional vessel operating leases initiated during fiscal 2010. Repair & maintenance costs increased, approx. 2% and 4%, or $0.5 million and $2.3 million, during the quarter and the six-month period ended, respectively, compared to the same periods during fiscal 2010, due to a greater number of drydockings performed. In addition, in the first half of fiscal 2011, Tidewater performed the second and third of four expected drydockings they expect to complete in fiscal 2011 within their largest AHTS vessel class of vessels. Crew costs increased approx. 16% and 7%, respectively, during the comparative periods, due to an increase in the number of internationally-based vessels as a result of newly-constructed and acquired vessels that were added to the international fleet.


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Tidewater’s internationally-based vessel revenues increased approx. 2%, or $4.4 million, during the second quarter of fiscal 2011 compared to revenues earned by international vessels during first quarter fiscal 2011, primarily due to the addition of nine towing supply/supply vessels during the current quarter, somewhat offset by stacking 12 traditional vessels during second quarter fiscal 2011 compared to the addition of seven towing supply/supply vessels and stacking of 19 vessels the first fiscal quarter 2011. Revenues also increased during the same periods because of an approx. 4% increase in utilization in crewboats.

The towing supply/supply class of vessels were responsible for the majority of the revenue gains realized during the quarter ended September 30, 2010 compared to first quarter fiscal 2011. Revenues earned by the towing supply/supply class of vessels increased approx. $5.7 million, or approx. 5%, relative to first quarter of fiscal 2011. Increases in revenue experienced by the towing supply/supply class of vessels were slightly offset by a $1.4 million reduction in revenues for the deepwater class of vessels over the same period because two of the Tidewater's largest anchor handling towing supply vessels are undergoing scheduled drydockings. Vessel operating profit for internationally-based vessels decreased approx. 28%, or $12.1 million, during second quarter fiscal 2011 compared to the first quarter of fiscal 2011, due to approx. 10%, or $14.5 million, higher operating costs (primarily crew costs, repair and maintenance costs and fuel, lube and supplies costs ). Repair & maintenance costs increased, approx. 13%, or $3.3 million, during second quarter fiscal 2011 compared to first quarter fiscal 2011 due to a greater number of drydockings being performed, including the second and third of four expected drydockings to be performed on their largest anchor handling towing supply vessel class of vessels in fiscal 2011. Crew costs increased approx. 13%, or $9.1 million, during the comparative periods, due to an increase in the number of internationally-based vessels as a result of newly-constructed and acquired vessels that were added to the international fleet. Fuel, lube and supply costs were higher by approximately 10%, or $1.5 million, during the comparative periods, due to vessel mobilizations on newly delivered vessels and because of vessels mobilizing from one international area to a different international area. Vessel revenues from the Tidewater’s U.S.-based vessels increased 12% and 6%, or $2.6 million and $3.0 million, respectively, during the quarter and the six-month period ended September 30, 2010, respectively, as compared to the same periods in fiscal 2010, due to higher utilization rates on the deepwater and towing supply/supply classes of vessels and because of the addition of newly-constructed deepwater vessels operating in the U.S. Gulf of Mexico market since the first quarter of fiscal 2010. Utilization rates increased approx. 12% and 17% on the deepwater and towing supply/supply classes of vessels, respectively, during the quarter ended September 30, 2010 and increased 6% 11% on the deepwater and towing supply/supply classes of vessels, respectively, during the six-month period ended September 30, 2010 compared to the same periods in fiscal 2010. Utilization rates increased because the supply/demand fundamentals in the broader U.S. Gulf vessel market improved due to the spill containment effort.


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Tidewater continues to stack and remove from its active fleet vessels that cannot find attractive charter hire contracts. At the beginning of fiscal 2011, Tidewater had 20 stacked vessels U.S. Gulf. During the first half of fiscal 2011, Tidewater stacked three additional vessels, sold and/or disposed of seven vessels from the previously stacked vessel fleet, and returned to domestic service three vessels, resulting in a total of 13 U.S.-based stacked vessels as of September 30, 2010.

Tidewater’s deepwater and towing supply/supply vessels both experienced increases in revenue during the quarter ended September 30, 2010 compared to the same period during fiscal 2010. Revenues earned by the deepwater vessels increased approx. $2.0 million, or 13%, due to an approx. 12% increase in utilization rates because the supply/demand fundamentals in the broader U.S Gulf of Mexico vessel market improved due to the spill containment effort. Revenue for the U.S. towing supply/supply class of vessels increased approx. $0.8 million, or 12%, during the same comparative periods, due to an approx. 17% increase in utilization rates. In addition, higher utilization for U.S. towing supply/supply class of vessels, in part, reflects disposition of vessels.

The towing supply/supply and crew/utility class of vessels both experienced a decline in revenue during the six-month period ended September 30, 2010 as compared to the same periods in fiscal 2010. Revenue for the U.S. towing supply/supply class of vessels decreased approx. $1.3 million during the comparative periods due to an approx. 19% decrease in average day rates resulting from generally weak shallow water vessel demand. High utilization for the U.S. towing supply/supply class of vessels, in part, reflects the disposition of vessels. Increases in revenues generated by the deepwater class of vessels offset the loss in revenues of the other vessel classes operating in the U.S. Gulf. Revenues earned by the deepwater class of vessels increased approx. $5.7 million, or 20%, during the six-month period ended September 30, 2010 compared to the same period in fiscal 2010. U.S.-based vessel operating profit increased approx. $4.0 million and $6.9 million, or 333% and 179% respectively, during the quarter and the six-month period ended September 30, 2010, respectively, compared to the same periods in fiscal 2010, due to higher revenues. U.S.-based operating profit also increased due to lower vessel operating costs. For the three months ended September 30, 2010, U.S.-based vessel operating costs decreased approx. 9%, or $1.3 million, as compared to the same period in fiscal 2010, due to lower insurance and loss reserves and lower fuel, lube and supplies expense. For the six-month period ended September 30th, U.S.-based vessel operating costs decreased approx. 13%, or $3.8 million, as compared to the same period in fiscal 2010, due to lower crew costs, insurance and loss reserves and lower fuel, lube and supplies. Lower vessel operating costs were slightly offset by approx. 5% and 6%, or $0.1 million and $0.3 million, respectively, higher depreciation expense, during the quarter and the six-month periods ended September 30, 2010, compared to the same periods in fiscal 2010 due to the addition of newly-constructed vessels to the U.S. fleet.


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Singapore-listed offshore service provider Ezra Holdings’ rights issue has been oversubscribed by 3.2 times. Ezra is planning to raise a total of S$155.2m ($119m) via the rights issue. Ezra said in a statement that the rights issue was oversubscribed as at its close

on October 6. Valid acceptances and excess applications were received for a total of 418m rights shares, representing about 318.4% of the total number of 131.5m rights shares. Proceeds would be used to acquire new vessels and enhance its working capital, the company said. Also Aker Solutions has agreed to transfer ownership in its subsidiary Aker Marine Contractors (AMC) to Ezra in exchange for equity instruments in Ezra and cash. In addition, 50% of Aker Solutions' ownership in the “Aker Connector” installation vessel will be transferred to Ezra. With AMC's experienced personnel, assets and project execution capabilities on board, the new partnership is a significant step towards realizing the ambition of developing a world class SURF (subsea umbilicals risers and flowlines) and floater installation company with differentiated assets covering all water depths and regions of the world. In addition, Ezra will access Aker Solutions' wide range of subsea and other products to create a leading combined EPCI capability. Under the agreement, Aker Solutions will sell 100% of the shares in its wholly-owned subsidiary AMC to Singapore-based Ezra, in which Aker Solutions becomes a substantial shareholder. Aker Solutions and Ezra also enter a 50/50 joint venture for ownership and chartering of the new-build “Aker Connector” (to be renamed “AMC Connector”), which will be completed in early 2012. In the transaction, AMC is valued at US$ 250 million. Ezra will settle the transaction by paying Aker Solutions US$ 50 million in cash, US$ 100 million in shares in Ezra Holdings Ltd, and US$ 50 million in a convertible bond with maturity after 36 months. The final US$ 50 million plus interest will be settled in cash on and subsequent to delivery of “Aker Connector”. The US$ 100 million payment in shares will give Aker Solutions a substantial shareholding in Ezra. Aker Solutions will be represented with one director on the board of Ezra. The transaction is expected to be completed during Q1 2011. "AMC is a strong engineering and project execution organization. By becoming part of Ezra, AMC will have access to a larger and rapidly growing fleet of installation vessels covering all IMR and SURF installation segments - including flexible and rigid pipelay with capacity up to 3,500 meters water depth - which will enable Ezra/AMC to compete with the world's leading SURF contractors," says Øyvind Eriksen, executive chairman, Aker Solutions. Currently AMC operates two vessels, the “Boa Deep C” and “Boa Sub C”. Ezra operates in the offshore market under the EMAS brand name. EMAS is an integrated offshore support solutions provider for the oil and gas industry. The business was founded in 1992 and is headquartered in Singapore. "This will be a transformational move that will propel Ezra and AMC to jointly become one of the world's top-five SURF contractors," said Eriksen. While AMC's foothold is primarily in Gulf of Mexico and Europe, Ezra has a strong position in Asia Pacific including Australia, as well as West Africa. When teaming up for product deliveries combined with installation and subsea construction services, the partnership will also benefit from Aker Solutions' strong positions in Brazil and arctic regions. "We already operate a large fleet of offshore support vessels and are engaged in engineering, fabrication and offshore construction. This partnership will be the foundation for creating a world class deepwater SURF and floater installation player, and forms a key part of our next lap growth strategy. We see great potential in partnering with Aker Solutions to offer true EPCI capabilities combining products and installation services. We welcome Aker Solutions as a valued partner in the company," said Lionel Lee, managing director of Ezra. Ezra and AMC will initially operate a fleet of five construction and SURF installation vessels, growing rapidly to ten differentiated vessels from 2013. Ezra also operates approx. 30 anchor handling tugs, anchor handling tug supply and diving support vessels, and two accommodation barges through its offshore support division.


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Aker Marine Contractors has a proud and unique heritage, having successfully executed the most complex projects around the world over the last 35 years. Aker Marine Contractors handled the largest structure ever moved on the surface of the earth, undertook the longest tow of a fixed platform, pioneered offshore float-over of large topsides and installed subsea equipment at the world's northernmost field. Ezra says that AMC's world-class installation and subsea capabilities and Ezra's fleet of subsea vessels will allow it to bid for larger and more complex projects globally. With the impending delivery of “Lewek Crusader”, “Lewek Falcon” (Multi- Functional Support Vessel) and the future delivery of “Lewek

Constellation” (DP3 ice-class deepwater subsea multi-lay vessel with heavy-lift capabilities in excess of 3,000 metric tonnes), Ezra is well-positioned to compete in the exclusive group of global top-tier subsea players. Following on Ezra Holdings has purchased a 650,000 square feet fabrication facility in Houston, Texas, through Ezra’s newly formed subsidiaries Ezram Properties LLC and Ezram Enterprise LLC. The move complements Ezra’s proposed key US$ 250 million acquisition of Aker Marine Contractors, a successful and established SURF and floater installation company, that also has a center of excellence in Houston through which operations in the Gulf of Mexico are supported. Mr. Lionel Lee, Ezra’s Managing Director said: “The new Houston base will allow us to quick start our drive into the engineering and fabrication market in the Americas and Europe. Armed with our other facility in Vietnam, Ezra is now able to quickly respond to clients’ needs worldwide, further strengthening our competitive edge in the offshore O&G market. We expect the continued investments in our core offshore support, engineering and deepwater subsea services capabilities to accelerate our expansion into the Gulf of Mexico, North Sea, Latin America and African markets, and transform Ezra into a top-tier fully integrated global O&G support services provider.” The deal was concluded at “distressed prices” and provides Ezra with the ability to fabricate customized cranes which meet the stringent requirements of the modern offshore O&G fleet, adding to the Group’s already wide product offering. The U.S. Navy has awarded shipbuilder VT Halter Marine an $8,436,603 contract for infrastructure improvements to the VT Halter Marine shipyard in Pascagoula, Miss. Infrastructure improvements will include shipyard paving, utility improvements, crane rail extensions and the procurement of additional crawler and overhead cranes. Work is expected to be completed by July 2012. The money for improvements is part of a series of contracts with U.S. Gulf Coast shipbuilders to be awarded under Section 2203 of Public Law 109-234, Emergency Supplemental Appropriations for Defense, the Global War on Terror and Hurricane Recovery 2006. The purpose of the appropriations is to expedite the recovery of shipbuilding capacity in areas affected by Hurricane Katrina by repairing, replacing or improving shipbuilding facilities. The Pascagoula shipyard was damaged by Hurricane Katrina in 2005.

In November 2010 Deep Sea Supply`s AHTS fleet (all 16) had an average gross income of approximately US$ 16,700 per ship per day compared to US$ 22,500 in October and to US$ 18,600 in September. The PSV fleet (all 8) had an average gross income of approx. US$ 9,200 per ship per day compared to US$ 13,700 in October and to US$ 15,200 in September. 3 PSVs had no revenue in November due to mobilization to Brazil where they will commence long term contracts with Petrobras.


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Jaya Holdings Limited registered revenue of S$78.2 million and net attributable profit of S$31.3 million for the financial quarter ended 30 September 2010. Jaya Holding’s total revenue for the first quarter under review was $78.2 million, 94% higher than the previous corresponding quarter of $40.4 million. The Offshore Shipping Division recorded lower revenue, down 17% while revenue from the Shipbuilding Division was 224% higher than the previous corresponding quarter. The Offshore Shipping Division revenue was lower mainly due to lower fleet utilisation of 66% for the quarter under review compared to 81% in the previous corresponding quarter. The decrease was partially offset by higher average daily vessel charter rate of $14,559, compared to $12,915 in the previous corresponding quarter due to a younger fleet and vessels of higher specifications. Fleet size as of 30 September 2010 was 21 vessels compared to 22 vessels a year ago.

The Shipbuilding Division recorded significantly higher revenue for the quarter under review mainly due to higher vessel sales. During the quarter under review, the division delivered and sold three vessels at 100% revenue recognition as compared to an average revenue recognition of 22% for two vessels under construction in the previous corresponding quarter. The ship chartering market is expected to remain weak due to new vessels coming on line and it will take time for the market to work out the oversupply situation despite a healthy demand growth. Although activity level has picked up, the

supply/demand balance remains unfavorable for vessel owners. Hence, it is expected that rates and utilisation pressures will continue in the near term and keep charter rates and vessel prices low. Despite these challenging market conditions, the Group has secured a two-year bareboat charter contract with option to purchase for an accommodation work barge with purchase option exercisable at half-yearly intervals. If the full two year charter is completed, total charter proceeds will approximate US$14.6 million. The sale and purchase activities for completed or nearly completed vessels remain active. However, build-to-order activities continue to remain muted as the market is still absorbing deliveries of orders made in prior years. Jaya’s CEO Mr. Chan Mun Lye said: “Oil companies are increasing their exploration and production spending as the financial market recovers, the oil price stabilises and confidence returns. A recovering world economy will likely trigger an increase in the price of oil as consumption increases. This will provide support for increased exploration and production spending which in turn will drive the demand for OSVs. Jaya is in a strong financial position to take advantage of the opportunities when it happens."

Norway’s Farstad Shipping raised $66M on the bond market, with the loan to be used for general corporate purposes. The bond will mature on 27 September 2013, Farstad said, adding that an application will be made for the bond to be listed on the Oslo Stock Exchange as soon as possible. DnB NOR Markets was the sole arranger of Farstad’s new bond. Last week, Farstad CEO Karl-Johan Bakken said that the bond comes as the offshore market suffers from “unbalance”, with an oversupply of vessels. However, he said an “upcycle” was imminent.


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Hawker Pacific Airservices Limited announced plans to enter into a strategic investment agreement with a wholly owned subsidiary of SEACOR Holdings Inc. Under the terms of the letter of intent, SEACOR will acquire approximately 33% of Hawker Pacific's common equity. Henrik von Platen, Hawker Pacific's Chairman, stated, “With SEACOR coming onboard we will gain a strong new investor and partner who shares our long-term philosophy and belief in the Asian market. The investment will further cement Hawker Pacific's position as the leading aircraft sales and support organization in the Asia Pacific and Middle East regions and provide excellent growth opportunities.” Charles Fabrikant, Executive Chairman of SEACOR Holdings Inc., stated, “SEACOR and its subsidiaries look for partners in growth markets with local knowledge and dynamic management. Hawker Pacific is a company with a long history and proven track record of success in the Asia Pacific and Middle East regions. We believe its expansive footprint and strategic vision position it well to capitalize on these growing markets.”

Gulf Marine Maintenance and Offshore Service Company (GMMOS), parent company of OSV provider, Stanford Marine, and Dubai shipbuilding and repair company, Grandweld, issued a $60m convertible loan to fund further expansion of its offshore marine business Stanford Marine. The loan has a tenor of 4 years with an initial coupon of 6% p.a. fully convertible to equity at a valuation commensurate with the Group’s future growth prospects. GMMOS Group has undertaken a series of expansion efforts since its acquisition by Funds advised by Abraaj Capital in 2007,

having added 16 new vessels to its fleet. In 2009, the group also established a presence in South East Asia with an office in Singapore. Based in Dubai, GMMOS Group is supported by an Abraaj managed Fund and Waha Capital. Elias Nassif, Group CEO, stated “The proceeds of the US$60 million facility will fund growth of its offshore supply vessel division (Stanford Marine), to take advantage of the expected recovery in the offshore market”. Ahmed Badreldin, Executive Director at Abraaj Capital Limited, added that “the growth of the offshore business is in line with the Company’s strategy to expand the Group’s offshore fleet and focus its activities on the core marine sector”. Featured Listings For Sale Direct From Owners File: SU14740 Supply Boat 147.6' x 38.7' x 15.1' depth x 12.50' loaded draft. Built in 2006 Yuexin Shipbuilding;

Guangzhou. Singapore flag. GRT: 621. ABS + A1, OSV, (E) + AMS Unrestricted. Drydocking due 04/2011. Deadweight: 750mt. 78.7'x29.5' clear deck. FO: @550m3. FW: @140m3. FO: 60,000g. FW: 6,335g. DW: 186,900g. Dry Bulk: None. Liq. Mud: 1,200BBL. Calcium Chloride / Brine: 1,131BBL. Deck Crane 1T @ 15m. 2 - 10T deck tuggers. Stern Roller. 2 x CAT 3512B total 3,500BHP. Fixed pitch prop(s) in kort nozzle(s). Bowthruster 5T. Speed about

@12kn max on MGO. Pump(s): FO 50m3/h & FW 50m3/h @ 50m head. Genset(s): 3 - 245kW / CAT; 40kW / CAT. Firefighting: 2 - 600m3/h @ 14 bar pumps & 2 water monitors + emergency pump. Quarters: 10 crew. Air Conditioned. Passengers: 10 passenger berths. Seating Capacity for 30 passengers. Southeast Asia. Prompt. File: SU15005 Supply Boat 150.0' x 35.0' x 12.0' depth x 10.00' loaded draft. Built in 1980 at Zigler (#269); Mermentau, LA. U.S. flag. GRT: 413. Class: ABS International Loadline, USCG COI. Last DD 3/08. Deadweight: 413lt. Deck Cargo: 350LT on 112' x 30.5' clear deck. FO: 60,000g. FW: 6,335g. DW: 186,900g. Dry Bulk: None. Liq. Mud: 1,200BBL. Calcium Chloride / Brine: 1,131BBL. 2 x GM 12V149 total 1,400BHP. 58" fixed stainless prop(s). Range 7,800nm. 45-60 day endurance. Recent overhaul. Bowthruster 200HP. Speed about 11kn on 1,500gph. Genset(s): 2 - 75kW / GM6-71, 3ph, 60Hz. Firefighting: Fire monitor. Quarters: 12 men / 4 staterooms. Air Conditioned. Galley. In recent years, tanks coated, back deck renewed, new main engines installed, bow renewed, as part of refurbishment costing over USD 1mil. Last DD 03/08. Very good condition. Sold to current Owner by Marcon. Working but can be developed. Keen Seller. U.S. Gulf Coast. Prompt.


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File: SU16041 Supply Boat 160.0' x 38.1' x 14.3' depth x 12.30' loaded draft. Built in 1981 at Houma Fabricators; Houma, LA. U.S. flag. GRT: 237. Class: ABS Loadline (exp June 2013); USCG COI (exp June 2013). Deadweight: 450mt. 107' x 29' clear deck. FO: 32,022g. FW: 2,356g. DW: 74,508g. Dry Bulk: 2,840ft3 in 4 tanks. Liq. Mud: 1,400BBL. 2 x CAT D398TA total 1,700BHP. 2 - FP prop(s). Bowthruster 165HP. Speed about 10kn cruise on 65-125gph. Genset(s): 2 - 75kW / GM 6-71 460vAC. Quarters: 5 crew. Air Conditioned. Galley. Passengers: 9 additional persons. Last drydocking Sept 2008. Vessel is working. U.S. Gulf Coast. File: SU17339 Supply Boat 172.9' x 47.9' x 16.1' depth x 9.51' light draft x 14.40' loaded draft. Built in 1975 at J.G. Hitzler; Germany. Rebuilt: 2002. Panama flag. GRT: 910. Class: LR 100A1 Offshore Supply Ship, LMC, Unrestricted Navigation. Deadweight: 1,000mt. Deck Cargo: 600T on 20m x 11m clear deck. Deck Load: 5MT/m2. FO: 500m3. FW: 329m3. BW: 24m3. Crane: 1MT SWL. Winch: Double drum waterfall. Line Pull: 40MT@5m/m. Wire Capacity: 900m 44mm. Stern Roller. 2 x MWM TBD44IV12 total 3,500BHP. Fixed Pitch 2,550mmx 2,550mm prop(s). 4SA 12cyl 230x270mm Deutz MWM. Bowthruster 300HP. Bollard Pull: 33ST. Speed about 10kn max on 4-6Tpd. Pump(s): FO: 50m3/h; FW: 50m3/h. Genset(s): 2 - 125kW / Volvo Penta 400vAC 50Hz. Firefighting: 2 - 600m3/h fire monitors. Quarters: 24 (4-1, 6-2, 2-4) berths. Air Conditioned. Galley. Vessel underwent major conversion from gas processing vessel to supply vessel in 2002. Hull sponsoned out from 38.3' to 47.9' in 1992 when converted to gas processing vessel. Southeast Asia. Delivery: Prompt.

File: SU18048 Supply Boat 180.0' x 40.0' x 14.0' depth x 12.02' loaded draft. Built in 1978 at Halter; Moss Point, MS. Vanuatu flag. GRT: 677. Class: ABS +A1 (E), +AMS exp. 8/2003. Deadweight: 927T. Lt. Disp: 646T. 2 x CAT D399TA total 2,250BHP. 2 - FP prop(s). Bowthruster. Speed about 12kn. Genset(s): 2 - 125kW / Aux. Invite best reasonable cash offers to test after inspection. Vessel may not be used for oilfield activities. Offered strictly "as is, where is". West Africa. $685,000.

File: SU18061 Supply Boat 180.0' x 40.0' x 14.0' depth x 11.50' loaded draft. Built in 1981 at Halter Marine. U.S. flag. Class: ABS Loadline only (formerly full class). Annual due 08/2010. Renewal due 08/2013. 4,000ft2 clear deck. FO: 79,000g. FW: 9,800g. BW: 160,000g. 2 x EMD 12-567BC total 2,500BHP. Range 6,000nm. Bowthruster 300HP. Genset(s): 2 - 180kW / Baylor. Air Conditioned. Galley. Supply / research vessel. New Navigation/Communication Equipment. Matrix Fresh Water Maker. Red Fox Waste Water Disposal System. NATO-Grid Tie Down Deck System. Rebuilt Anchor Windlass, 3 Air Compressors, New Galley Sink, Toilets and Head Sinks/fixtures, Walk-in Freezer, Refrigerator, Oven, Washer, Dryer. 2 - 13 ft x 15 ft enclosed spaces below main deck for project needs (formerly P&S #2 tanks). Access to spaces from main deck and tunnel. Liquid mud and drybulk tanks converted to ballast and fuel. New bilge piping in 2007. Last Drydocking 2007. Vessel cold stacked and in need of reactivation and repairs. Owners will consider all offers. U.S. Gulf Coast. File: SU18237 Supply Boat 180.0' x 40.0' x 15.0' depth x 6.81' light draft x 12.10' loaded draft. Built in 1980 at Halter Marine; Lockport, LA. Foreign flag. GRT: 656. Class: ABS + A1 + AMS. Docking Survey due 03/2012. Deadweight: 1,200mt. Deck Cargo: 570T on 310m3 clear deck. FO: 412m3. FW: 486.97m3. DW: 594m3. Dry Bulk: 127m3 in 6 tanks. Liq. Mud: 203m3. 2 x EMD 12-567BC total 2,557BHP. "Gulf" style low stack aft. Bowthruster 330BHP. Genset(s): 2 - 99kW / GM8V71 440vAC 60Hz. Quarters: 14 in 5-2, 1-4 berth cab. Galley. We may be able to develop direct from Owners on P&C basis subject to availability at time of commitment. Idle, but warm stacked. Southeast Asia. Prompt.


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File: SU18460 Supply Boat - AHTS 184.9' x 38.0' x 15.0' depth x 15.02' light draft x 12.17' loaded draft. Built in 1977 at Quality Equipment, Houma, LA. Rebuilt: 2000. Panama flag. GRT: 723. Class: BV I + Hull, +Mach Supply Vessel Unrestricted Nav. DD due 30 Apr 2010, SS due 09/2010. Formerly ABS classed. Deadweight: 966lt. Deck Cargo: 400T on 35m x 9.4m clear deck. FO: 365m3. FW: 278m3. BW: 285m3. Dry Bulk: 128m3 in 4 tanks. Liq. Mud: 1,396BBL. Winch: 2 - 3T electric tuggers. 2 x EMD 12-645E6 total 3,000BHP.

90" x 66" 4-blade SS prop(s) in kort nozzle(s). Eco speed: 8kn on 50gph. Range: 12,000nm @11kn “Gulf” style low stacks aft. Bowthruster 300HP. Speed about 11-13kn on 87-33/gph. Genset(s): 2 - 75kW / Perkins 440V, 60AC. Firefighting: 1,200m3/h pump with two monitors. Quarters: 24 in 7 staterooms. Air Conditioned. Galley. Sale "as is, where is". Presently on short-term charter, but still available. Mid East. File: SU18538 Supply Boat – AHTS 185.0' x 38.1' x 16.0' depth x 13.02' loaded draft. Built in 1982 at Mangone; Houston, TX. Italian flag. GRT: 753. Class: RINA 100 A 1.1 - Nav. I.L.; Re; Ap (PI). Deadweight: 881mt. Deck Cargo: 330MT on 290m2 clear deck. FO: 385m3. FW: 112m3. DW: 166m3. Dry Bulk: 102m3. Liq. Mud: 144m3. Winch: SMATCO 66 DAW-200 Double Drum w/f. Line Pull: 136T. Wire Capacity: 2,952' x 2" ea. Stern Roller. 2 x EMD 16-645E2 total 3,900BHP. Liaaen CP prop(s). Bowthruster 350HP. Bollard Pull: 40MT. Speed about 12kn (max) on 6-12MT/d. Pump(s): FO: 97m3/h; DW/FW: 97m3/h; Liqmud: 50m3/h. Genset(s): 2 - 125kW; 1 - 150kW. Firefighting: 2 Fire monitors (200m3/hr ea). Quarters: 5-1; 3-2 berth cabins. Air Conditioned. Galley. Passengers: 6 beds. Mediterranean. File: SU18574 Supply Boat 185.0' x 40.0' x 14.0' depth x 12.00' loaded draft. Built in 1980 at Halter Marine; Moss Point, MS. Foreign flag. GRT: 701. Class: ABS + A1 (E) + AMS. Special Survey due 10/2011. Docking due 02/2010. Deadweight: 949T. Deck Cargo: 548T on 306m3 clear deck. FO: 468m3. FW: 357m3. DW: 357m3. Dry Bulk: 93.4m3 in 4 tanks. Liq. Mud: 275.2m3. 2 x GM 16V149TI total 2,560BHP. 2 - FP prop(s). Bowthruster 300HP. Speed about 12kn service. Genset(s): 2 - 99kW / GM8V71 440vAC 60Hz. Firefighting: 1 - 1,000gpm monitor. Quarters: 16 in 2-1, 4-2,1-6 cabins. Air Conditioned. Galley. Presently idle. We may be able to develop direct from Owners on P&C basis subject to availability at time of commitment. Southeast Asia. Prompt. File: SU18839 Supply Boat - AHTS 188.6' x 39.7' x 19.0' depth x 14.76' loaded draft. Built in 1976 at J.G. Hitzler; Germany. Liberian flag. GRT: 800. Class: GL + 100 A4 Tug + MC. Deadweight: 871T. Deck Cargo: 444T on 105' x 30' clear deck. Deck Load: 2.5-3.5MT/m2. FO: 742m3. FW: 132m3. DW: 443m3. Dry Bulk: 187m3. Liq. Mud: 243.5m3. Winch: Double drum. 2 - 8T tuggers. Line Pull: 181T. Wire Capacity: 800m. Stern Roller. 2 x B&W 8V22 total 4,600BHP. CP prop(s) in kort nozzle(s). Bowthruster 400HP. Bollard Pull: 60MT. Speed about 14.5kn. Genset(s): 2 - 336kW, 2-112kW & 1-60kW 380/220VAC. Firefighting: 2 - monitors = Total 600MT/hr. Quarters: 22 total. Air Conditioned. Try best reasonable cash offers to test after inspection. Laid up. Vessel may not be used for oilfield activities. Offered strictly "as is, where is". Owners willing to work with buyer on conversion plans. West Africa. Price: $787,500. File: SU18952 Supply Boat 190.0' x 43.5' x 16.0' depth x 11.50' light draft x 14.43' loaded draft. Built in 1974 at Carrington Slipways; Australia. Rebuilt: 1997. Panama flag. GRT: 968. Class: LR-1 +Hull +Mach, Supply Vessel, Unrestricted Nav. Deadweight: 1,100mt. Deck Cargo: 30m x 10m clear deck. Deck Load: 5MT/m2. FO: 579m3. FW: 200m3. BW: 20m3. Winch: Swann type double drum waterfall. Stern Roller. 4 x Daihatsu 8PSTHCM26D total 4,200BHP. 4 blade 2,550x2,520mm bronze prop(s) on 10.5" shaft(s) in kort nozzle(s). 4SA 8cyl 260 x 320mm Bowthruster 300HP. Bollard Pull: 45MT. Speed about 10kn. Pump(s): FO: 100m3/h; FW: 50m3/h. Genset(s): 2 - 250kW / CATD346 415v 50hz, 1 - 100kW / CAT3306. Firefighting: 2 - 600m2/h fire monitors. Quarters: 22 (4-1, 8-2, 2-4) berths. Galley. Major rebuild in 1997. Safety equipment certificate for 42 persons. Reportedly US $600,000 spent on Special Survey. South Pacific. Prompt.


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File: SU19630 Supply Boat 196.8' x 45.3' x 18.0' depth x 14.70' loaded draft. Built in 2011 at Southeast Asia. Foreign flag. GRT: 500. Class: BV. 387m2 clear deck. FO: 570m3. FW: 500m3. Winch: 2 - 5T tuggers. 2 x Cummins total 3,200BHP. in kort nozzle(s). Bowthruster 6T. Speed about 12kn. Pump(s): Bilge, Ballast, FW: 80m3, FO: 100m3. Genset(s): 2 - 80kW / Cummins; 3 - 245kW / CAT. Firefighting: Pump. FiFi class 1. Quarters: 49 men. Air Conditioned. Galley. Southeast Asia. June 2011.

File: SU19738 Support Vessel 197.8' x 38.7' x 17.4' depth x. Built in 1997 at Ishii Zosen; Japan. Panama flag. GRT: 998. Class: NK, Ocean Going International SOLAS Compliant. Deadweight: 1,174T. Deck Cargo: 500T on 98.4' x 32.8' clear deck. FO: 450m3. FW: 514m3. Crane: 1 - 7.5T @ 7.5m knuckle revolving. Winch: Waterfall, 70T brake. Line Pull: 45T@4m/mn. Wire Capacity: 46mm-1,000m. 2 x Yanmar 6N260EN total 4,000BHP. 2 - variable pitch prop(s) in kort nozzle(s). 13,500nm range. Bowthruster 520BHP. Bollard Pull: 45T. Speed about 12.5-14.25kn. Genset(s): 2 - 250kVA AC 440/220v 60Hz; 1 - 125kVA AC 440/220v 60Hz. Quarters: 40. Multi-purpose workboat presently employed for survey work. 4 point mooring system on board, but provided at additional cost. 14-1, 5-2, 2-4 & 1-8 man rooms. Joystick control. 2-7T tuggers. Call Marcon with your requirements for a charter rate quote. South Africa. February 2011. File: SU19847 Supply Boat 198.1' x 47.2' x 21.3' depth x 18.70' loaded draft. Built in 1986 at Richards (Shipbuilders) Ltd, U.K. Foreign flag. GRT: 1,532. Class: DnV + 1A1 Supply Vessel E0. Deadweight: 2,154mt. Lt. Disp: 1,389mt. Deck Cargo: 850mt on 356m2 clear deck. Deck Load: 5MT/m2. FO: 521m3. FW: 416m3. DW: 526.4m3. Dry Bulk: 170m3 in 4 tanks. Liq. Mud: 366m3. Calcium Chloride / Brine: 359m3. Winch: 2 - capstans 10T pull. 3 x Cummins KTA50M-1 total 4,900BHP. 2 - VPP Liaaen 1,500HP Azimuth prop(s) in kort nozzle(s). Diesel electric. Two 1,585SHP electric motors. Total power 4,899HP. Bowthruster 2 - 700BHP. Speed about 8-10-12kn on 3.25-4.7-10.8T. Genset(s): 3 - 1,137kW Stamford; 1 - 185kW / CAT 3406 440vAC 60Hz. Firefighting: 2 - 1,200m3/h pumps. 2 - 120m throw monitors. FiFi 1. Quarters: 22 (10-1, 3-2, 1-6). Air Conditioned. Galley. ME 204 design medium-size PSV with good capacities and Poscon joystick control. We may be able to develop direct from Owners on P&C basis subject to availability at time of commitment. Southeast Asia. File: SU20005 Supply Boat 200.0' x 40.0' x 15.0' depth x 6.40' light draft x 12.90' loaded draft. Built in 1999 at Erin; Manaus, Brazil. Mexican flag. GRT: 939. Class: ABS +A1 +AMS DPS-1. Deadweight: 1,226T. Deck Cargo: 810LT on 112' x 33'.4" clear deck. FO: 317,007g. BW: 16,921g. Crane: 40MT Knuckle Boom. 2 x EMD 12-645F7B total 4,610BHP. Fixed Pitch prop(s). Bow & Stern Thrusters: Omega Jets Bowthruster. Dynamic Positioning. Genset(s): 2 - 175kW / Cummins NT 855-G4. Quarters: Certified for 62. Air Conditioned. Galley. No liquid mud or drybulk. Mexico East Coast. Prompt. File: SU20342 Supply Boat 203.0' x 42.6' x 20.3' depth x 16.60' loaded draft. Built in 1975 at Hitzler JG; Germany. Belize flag. GRT: 1,330. Class: GL + 100A5E OSV + MC. Drydocking overdue October 2007. Deadweight: 1,101lt. Deck Cargo: 94' x 33' clear deck. Liq. Mud: 1,500BBL. 2 x MAK 9M453 total 7,200BHP. CP prop(s). Bowthruster. Speed about 15kn free. Firefighting: Fitted. Quarters: 23 people. Sale "as is, where is" out of competition. Caribbean. $1,565,000.

File: SU21243 Supply Boat - AHTS 212.0' x 45.0' x 22.6' depth x 19.40' loaded draft. Built in 1982 Husumer Kroeger, Germany. Vanuatu flag. GRT: 1,334. Ex DNV & GL. ABS (currently withdrawn). Deadweight: 1,887mt. Deck Cargo: 675T on 124'x36' clear deck. FO: 794T. DW: 255T. BW: 577.5T. Dry Bulk: 170m3. Liq. Mud: 343m3. Winch: Karmoy Double Drum. Line Pull: 551,000lbs. Wire Capacity: 9,180ft x 2.5". Stern Roller. 2 x MAK 9M453AK total 8,000BHP. 2 - CP prop(s) in kort nozzle(s). Bowthruster 670BHP. Bollard Pull: 100T. Speed about 11-15kn on 155gph @11kn. Genset(s): 2 -

664kW / 220v / 440v; 2 - 244kW. Firefighting: Fitted. Quarters: 9-1, 2-2, 1-7. Air Conditioned. Galley. For sale only out of competition and strictly "as is, where is". West Africa. $3,100,000.


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File: SU21244 Supply Boat - AHTS 211.7' x 45.3' x 23.4' depth x 21.32' loaded draft. Built in 1985 at BV J. Pattje, Holland. Foreign flag. GRT: 1,413. DNV. +1A1 Tug Supply Vessel, EO, SF. Continuous Hull Survey due 11/2009. Deadweight: 1,884mt. Deck Cargo: 650MT on 30m x 11m clear deck. FO: 620m3. FW: 464m3. DW: 537m3. Dry Bulk: 226.5m3 in 4 tanks. Liq. Mud: 185m3. Calcium Chloride / Brine: 188m3. Winch: Brattvaag Double drum waterfall. Line Pull: 250T. Wire Capacity: 1,200m 76mm + work. Stern Roller. 2 x Wartsila 12V32 total 11,140BHP. 3,500mm CP prop(s) in kort nozzle(s). Bowthruster 800HP. Bollard Pull: 130MT. Genset(s): 2 - 305kW/Stamford Aux; 2 - 830kW/Stamford shaft 440v6. Quarters: 18 in 8-1, 5-2 berths. Air Conditioned. Galley. UT704 Mk.III design AHTS. Joystick. DNV approved bollard pull certificate. Ulstein anti-rolling tanks. 2-1,000m & 1-1,400m storage reels. 2 Karm forks 500T. Hydraulic tow pins with flaps. 198m3 chain lockers. We may be able to develop direct from Owners on P&C basis subject to availability at time of commitment. Southeast Asia. File: SU21443 Supply Boat 215.0' x 46.0' x 19.3' depth x 16.08' loaded draft. Built in 1976 at B.V. Schpsw. Waterhuizen J Pattje. St. Vincent flag. GRT: 1,369. Class: DNV + 1A1. Ice Class C, Safety Standby Rescue. Deadweight: 1,942T. Deck Cargo: 1,000MT on 290m2 clear deck. FO: 510m3. FW: 186m3. DW: 290m3. Liq. Mud: 255m3. Derrick/A-Frame: Optional. 2 x MAK 6M452AK total 3,200BHP. 2 - FP prop(s). Type 6M452AK. 2 Oil 4SA 6cyl 320x450mm. Bowthruster 450HP. Speed about @13kn svc. Genset(s): 3 - 160kW 440vAC 60Hz. Quarters: 26. Air Conditioned. Galley. Sold to present owner via Marcon. Vessel may be developed for sale or charter, with delivery after December 2010 following current charter. All class certificates valid. Last drydocked July 2009 when 5 year paint system installed and 38T of plate changed. Next drydocking due March 2011 Caribbean. $1,550,000. File: SU21639 Supply Boat - AHTS 216.0' x 39.4' x 16.4' depth x 13.12' loaded draft. Built in 1983 at Southern Ocean Shipbldg; Singapore. Panama flag. GRT: 826. Class: Korean Reg: RINA (formerly ABS until 6/2009). Deadweight: 1,000mt. FO: 400MT. Winch: Double drum waterfall 102T. Wire Capacity: 730m 56mm. 2 x Yanmar 8Z-280-ET total 4,800BHP. Bowthruster. Bollard Pull: 67T. Speed about 10-13kn. Genset(s): 2 - 150kW / Yanmar 415v 60Hz. Southeast Asia. Prompt. File: SU21843 Supply Boat – AHTS 217.9' x 42.9' x 19.0' depth x 16.40' loaded draft. Built in 1977 at Tacoma Boat, Tacoma, WA. Vanuatu flag. GRT: 1,169. ABS +A1 (E), +AMS Towing Service. Ice Class C, Unrestricted. Dry Docking due 31 May 2010. Deadweight: 1,264lt. Deck Cargo: 444LT on 103' x 32' clear deck. FO: 180,900g. FW: 44,000g. DW: 113,175g. Dry Bulk: 6,000ft3 in 4 tanks. Liq. Mud: 862BBL. Crane: Fitted. Winch: Smatco 84 DAW-250 Double Drum. Line Pull: 500,000lb. Wire Capacity: 4,400' 2.5". 4 x EMD 16-645E2 total 7,800BHP. Liaaen 4-blade 129” CP prop(s) in kort nozzle(s). Towmaster Nozzles. Triple Rudders. Range 16,000nm. Bowthruster 620HP. Bollard Pull: 120MT. Genset(s): 2-250kW / GM12V71NA & 1-75kW 450vAC 60Hz. Firefighting: 2 Fire/Foam Monitors. Quarters: 22 (2-1, 4-2, 3-4 berths). Air Conditioned. Galley. 2,533LT displacement at loadline. 4 pennant reels with capacity for 21,060’ 2.5” wire. 2 tugger winches. Fritz Culver Tow pins. Ulstein 440 Shark Jaws. Four rig chain lockers fitted with capacity for 6,000’ 3” chain. Honeywell Joystick controls. For sale out of competition on a strictly "as is, where is" basis. Caribbean. $4,175,000.

File: SU22042 Supply Boat 220.0' x 40.0' x 14.0' depth x 11.50' loaded draft. Built in 1984 at Moss Point Marine; Escatawpa, MS. U.S. flag. GRT: 385. ABS Loadline Only. Annual Loadline Survey overdue Oct '08. Deadweight: 1,096lt. Deck Cargo: 800LT on 150'x31' clear deck. FO: 50,500g. FW: 11,923g. DW: 78,276g. Dry Bulk: 6,200ft3. Liq. Mud: 2,496BBL. 2 x EMD 16-645E2 total 3,900BHP. 4 blade props in kort nozzle(s). Bowthruster 600HP. Bollard Pull: 26.4ST. Genset(s): 2 - 125kW / GM8V71. Firefighting:

monitor. Quarters: 23 bunks in 8 cabins. Air Conditioned. Although not officially on the market, owners may consider unsolicited offers on a private & confidential "as is, where is" basis out of competition. Vessel in laid up status with ABS. Loadline only boat. Some steel work required. P-tanks no longer operational. U.S. Gulf Coast.


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File: SU22053 Supply Boat 221.0' x 40.0' x 14.0' depth x 12.00' loaded draft. Built in 1984 at Moss Point Marine; Escatawpa, MS. Rebuilt: 1998. U.S. flag. GRT: 854. ABS +A1 + AMS. Deck Cargo: 700LT on 158'x29' clear deck. FO: 82,800g. FW: 90,000g. Dry Bulk: 6,400ft3. Liq. Mud: 2,744BBL. 2 x CAT 3512 total 3,000BHP. Aquamaster 1401 prop(s). Z-drive/CP Bowthruster 750HP. Dynamic Positioning. Speed about 13kn. Genset(s): 2-99kW /GM8V71 440v 60Hz; 1-65kW 480v 60HzAC. Firefighting: 1-1,000gpm monitor. Quarters: 15. Air Conditioned. Galley. DP-1 equivalent supply boat. Laid up. Stretched in late 1990s, and re-powered. Kongsberg Simrad SDPO/system. For sale only out of competition and strictly "as is, where is". U.S. Gulf Coast. File: SU22057 Supply Boat 220.5' x 55.1' x 23.3' depth x 19.90' loaded draft. Built in 1983 at Soviknes Verft AS; Norway. Norwegian flag. GRT: 1,899. Class: DNV + 1A1 Supply Vessel, E0, SF. Deadweight: 3,060mt. Lt. Disp: 1,561. Deck Cargo: 1,650T on 619m2 clear deck. FO: 666.7m3. FW: 1117.2m3. DW: 927m3. BW: 927m3. Dry Bulk: 398m3. Liq. Mud: 230m3. Calcium Chloride / Brine: 323m3. Winch: 2 - 10MT tugger. 3 x Deutz SBV8M628 total 5,724BHP. Azimuthing 2,300mm dia. prop(s). 2 - 2,000SHP electrical motors. Bowthruster 2-900BHP. Speed about 8-13kn on 10.4-17.8MT/d. Pump(s): FO: 2-100m3/h; FW: 2-100m3/h; Liqmd: 2-70m3/h; BW: 2-100m3; DW: 2-100m3/h. Genset(s): 3 - 1,330kW 440vDC; 1 - 150kW 220vDC harbor. Quarters: 23 (11-1, 6-2 cabins). Air Conditioned. ME 202 Design Diesel electric. We may be able to develop direct from Owners on P&C basis subject to availability at time of commitment. Working spot market. North Sea. File: SU22841 Supply Boat - AHTS 228.0' x 41.0' x 17.0' depth x 14.00' loaded draft. Built in 1975 at Halter Marine; Moss Point, MS. Rebuilt: 1988. U.S. flag. GRT: 488. Class: ABS +A1 (E) Towing Service; AMS; USCG. Deadweight: 1,032T. Deck Cargo: 850LT on 136'x32' clear deck. FO: 157,500g. FW: 125,000g. Dry Bulk: 4,775ft3. Liq. Mud: 1,928BBL. Winch: Smatco 72' DD WF, 2-10T Tuggers. Line Pull: 400,000lb. Wire Capacity: 2-4,000' 3 1/2". 2 x EMD 20-645E5 total 7,240BHP. 2-VPP prop(s) in kort nozzle(s). Bowthruster 500HP. Bollard Pull: 110MT. Speed about 17kn. Genset(s): 2-150kW / GM12V71. Quarters: 22 berths in 7 cabins. Air Conditioned. Galley. For sale only out of competition and strictly "as is, where is". U.S. Gulf Coast. File: SU23043 Supply Boat - AHTS 230.0' x 43.0' x 19.0'. Built in 1975 at Halter Marine; Moss Point, MS. Rebuilt: 1988. U.S. flag. ABS +A1, AMS, Ocean, Docking overdue July 2005. DP-1. Deadweight: 1,249lt. Lt. Disp: 2,771lt. Deck Cargo: 900LT on 127'x35' deck. FO: 119,000g. FW: 20,000g. DW: 321,000g. Dry Bulk: 3,000ft3. Liq. Mud: 1,728BBL. Calcium Chloride / Brine: 1,728BBL. Winch: Smatco 85-250-2T D/D. Wire Capacity: 2-4,000' 3 1/2". Stern Roller. 2 x EMD 16-710G7B total 8,800BHP. CP prop(s) in kort nozzle(s). 1,500HP Bowthruster 360deg Gill. Dynamic Positioning. Bollard Pull: 125ST. Speed about 15/12kn. Genset(s): 2 - 300kW 440v 60Hz. 18 berths in 8 rooms. DP-1. Sale out of competition "as is, where is". U.S. Gulf Coast. File: SU23048 Supply Boat 230.0' x 48.0' x 16.0' depth x 13.00' loaded draft. Built in 1999 at Eastern Shpbldg; Panama City, FL. U.S. flag. GRT: 1,342. ABS +A1 (E), AMS. U.S. Coast Guard Subch. "L". Deadweight: 2,500T. 51.97m x 12.95m deck. FO: 961.58m3. Dry Bulk: 287.7m3. Liq. Mud: 402.84m3. 2 x EMD 16-645E7B total 6,000BHP. 510BHP fixed tunnel stern thruster. Bowthruster 1,000HP. Dynamic Positioning. Pump(s): 6 Mission Magnum liquid mud. Genset(s): 2 - 145kW / Cummins. Skum FJM200 1,090m3/h fire monitor. Quarters: 34 berths in 11 cabins. Air Conditioned.. Shallow draft, DP-1 high capacity PSV. Simrad SDP-01 auto-positioning with Racal Skyfix/Trimble 4000 DSGPS. West Africa. Prompt.

File: SU23457 Supply Boat 233.7' x 57.5' x 21.0' depth x 17.90' loaded draft. Built in 1981 at Hjorungavaag, Norway. Brazilian flag. GRT: 2,087. Class: GL Exp Nov 09. Deadweight: 2,750T. Deck Cargo: 2,100T on 137.8'x47.6' clear deck. FO: 1,137T. Liq. Mud: 2,550T. 2 x MAK 6M453AK total 4,810BHP. CP prop(s). Bowthruster. Speed about 13.6kn on 15.8tpd. Genset(s): 2 – 1,250kVA. Firefighting: Fitted. Bow & stern thrusters. For sale out of competition on a strictly "as is, where is" basis. Caribbean.


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File: SU24160 Supply Boat – AHTS 241.5' x 53.8' x 26.2' depth x 22.50' loaded draft. Built in 1991 at Argos Eng. Co/Universal Drydock. GRT: 2,335. DnV, +1A1, +MV, EO, Tug / Supply Oil Rec, SF. Continuous Hull Survey due 08/2011. Deadweight: 2,783mt. Lt. Disp: 2,461mt. Deck Cargo: 1,200mt on 41.7m x 13.3m clear deck. Deck Load: 5mt/m2. FO: 1,050m3. FW: 710.2m3. DW: 816.2m3. Dry Bulk: 284m3 in 4 tanks. Liq. Mud: 462.8m3. Calcium Chloride / Brine: 396.7m3. Crane: Telescopic 5 / 10mt @ 10 / 5m out. Winch: Triple drum Brattvaag. Line Pull: 300T. Wire Capacity: 1,400m 76mm + work. Stern Roller. 4 x Wartsila total 15,612BHP. 2 - 3,600mm CP prop(s) in kort nozzle(s). 800kW retract azimuth thruster fwd & 882kW tunnel aft. Bowthruster 1,000BHP. Bollard Pull: 168mt. Speed about 10-16kn on 10-45tph. Genset(s): 2-1,800kW / Shaft, 2-280kW / diesel, 1-120kW emergency. Quarters: 12-1 berth crew. Air Conditioned. Galley. Passengers: 8 berths. Poscon joystick maneuvering system. 2 storage reels. Wildcats for 76mm & 84mm chain. 4x 240mt SWL hydraulic tow pins. 2x 500mt SWL Karm Forks. 160M3 chain lockers. 75mt SWL pelican hook. 100mt SWL chain chaser & grapple. Bollard pull DnV approved. Oil Rec capability 1,064.2m3. Large hospital & reception room - 22 berths. Southeast Asia. File: SU24667 Supply Boat 246.0' x 56.6' x 26.2' depth x 21.30' loaded draft. Built in 2011 at Chinese Shipyard. Singapore flag. GRT: 2,950. Class: ABS + A1 (E) OSV, FiFi 1 + AMS, ACCU, DPS-2. Deadweight: 3,000mt. Deck Cargo: 1,200mt on 700m2 clear deck. Deck Load: 5.5mt/m2. FO: 1,000m3. FW: 500m3. DW: 1,500m3. Dry Bulk: 226m3. Liq. Mud: 600m3. Crane: 1 - 3T @ 10m. Winch: 2 - 10T capstans; 2 - 10T tuggers. 2 x Niigata 8L28H total 6,000BHP. Niigata Z-peller prop(s). Bowthruster 2 - 10T. Dynamic Positioning. Speed about 10/13kn on 16/21m3/d. Pump(s): FO: 2 - 150m3/h; FW: 1 - 100m3/h; DW: 1 - 100m3/h; Liq Mud: 2 - 75m3/h. Genset(s): 3 - 450kW/diesel; 2 - 1,000kW/shaft; 1 - 80kW/CAT 415vAC 3Ph 50Hz. Firefighting: FiFi-1. 2 - 1,500m3/h pumps; 2 - water / foam monitors. Quarters: 50 in 14-1 & 36-2 berth. Air Conditioned. DP-2 75m PSV. Foam / dispersant 14m3 / 14m3. Water curtain all around. Oil dispersant. All cabins c/w attached washroom. 2 - 10T/d watermakers. Available direct from Chinese shipyard for whom Marcon has sold other newbuildings. Far East. August 2011/ May 2012. File: SU24668 Supply Boat – AHTS 246.0' x 52.5' x 24.6' depth x 20.00' loaded draft. Built in 2010 at Chinese Shipyard. Singapore flag. GRT: 2,150. ABS + A1 (E) OSV AH, Towing Vessel, FiFi 1 + AMS, ACCU + DP-2. Deadweight: 2,500mt. Deck Cargo: 800MT on @500m2 clear deck. FO: 850m3. FW: 355m3. DW: 1,330m3. Dry Bulk: 226m3. Crane: 1 - 5T @ 12m. Winch: elec/hyd double drum Zicom. Wire Capacity: 2 - 1,500m 64mm. Stern Roller. 2 x Wartsila 8L26 total 7,295BHP. CP prop(s) in kort nozzle(s). Bowthruster 2 - 10T. Dynamic Positioning. Bollard Pull: 90MT. Speed about 10/14kn on 12/19m3/d. Pump(s): FO: 150m3/hr; FW: 150m3/hr; BW / DW: 150m3/hr; Liq Mud: 2 - 100m3/hr. Genset(s): 2 - 1,500kW / shaft; 2 - 380kW; 1 - 94kW 415vAC 3Ph 50Hz. Firefighting: 2 - 500m3/hr pumps; 2 - 1,200m3/hr monitors. Quarters: 40 in 8-1 & 16-2 berths. Air Conditioned. Linepull: 35T @ 0-23m/min. Fire: FiFi-1. 2 - 1,500m3/hr pumps; 1,200m3/hr water & 300/1200m3/hr water / foam monitors. DP-2 75m AHTS. Foam / detergent 10m3 / 10m3. 2 - 10T tuggers. 300T SWL Zicom jaws. 2 elec / hyd Zicom tow pins. Storage reel. Hospital. Sewage treatment plant. Available direct from Chinese shipyard for whom Marcon has sold other newbuildings. Far East. Delivery: May 2011. We are also interested in receiving information on any other vessels which you may have surplus to your requirements and available for sale or charter on either a published or a private and confidential basis.

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supply & tug supply boat market report - november 2010.pdf

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