Marine Log - April 2008 - (Page 22)

OFFSHORESERVICE the banks of the bayous in pretty makeshift “Cajun drydocks.” This boom time, boats are being built by new entrants to the market all over Asia. Still, if you want a number, approximately 722 newbuild vessels are expected to be delivered to the worldwide offshore vessel market within the next five years, according to the world's largest OSV owner, Tidewater, citing ODS-Petro- ICE CLASS TANKERS data statistics. Tidewater itself is contributing to the build up. As at the end of last year it was constructing 20 anchor handling towing supply vessels, varying in size from 5,000 to 13,600 BHP, for a total commitment cost of $387.8 million. Five different international shipyards are constructing the vessels. Six of them are large deepwater class vessels. Scheduled deliveries for the 20 vessels began in January 2008 with the last vessel scheduled for delivery in on OSV June 2010. As of December 31, newbuilds 2007, $157.6 million had been expended on the vessels. Tidewater’s newbuild commitments at year’s end also included one 220 ft, six 230 ft, eight 240 ft and three 250 ft platform supply vessels worth a total of $346.9 million. Tidewater’s Quality Shipyard, LLC, is constructing the 220-foot and two of the 250 ft vessels, while a different U.S. shipyard is constructing the third 250 ft vessel. One international shipyard is constructing the six 230 ft vessels while two different international shipyards are constructing the eight 240 ft vessels. The 220 ft vessel was expected to be delivered in February 2008. The six 230 ft vessels are scheduled for delivery beginning in December 2008 with final delivery of the sixth vessel in January 2010. Expected delivery for the eight 240 ft vessels—considered deepwater class vessels—will begin in January 2009 with delivery of the eighth vessel in September 2009. One of the 250 ft vessels (also considered deepwater class) was delivered in early January 2008. The remaining two are expected to be delivered in December 2009 and March 2010. As of December 31, 2007, $74.7 million had been expended on these 18 vessels. Tidewater is also committed to the construction of two 175 ft, fast, crew/supply boats for an aggregate cost of $17.4 million. They are being constructed at an international shipyard and are expected to be delivered in June and September of 2009. Tidewater is also committed to the construction of three offshore tug vessels for an aggregated cost of approximately $40.6 million. They are being constructed at two separate international shipyards and are expected to be delivered to the company in May 2008, July 2009 and August 2009. Subsequent to December 31, 2007, the company committed to the construction of eight additional deepwater platform supply vessels for a total aggregate cost of approximately $202 million. They are being built at an international shipyard for expected deliveries between September 2010 and June 2012. ML $734.6m Tidewater is spending 22 MARINE LOG APRIL 2008 www.marinelog.com http://www.superbolt.com http://www.superbolt.com http://www.marinelog.com

Table of Contents Feed for the Digital Edition of Marine Log - April 2008

Marine Log - April 2008 Contents Editorial Second Thoughts Update Inside Washington Offshore Vessels Evolve to Meet Subsea Demands Picking the Right Floaters for Deepwater Tugs: The Good Times Roll, But for How Long? Interactive TV at Sea Jo-Kell's Suzan Kelly Tugs & Barges Exhibitors Preview Beyond Imagination Tech News Newsmakers Contracts Events Website Directory Infodirect ML Marketplace Last Page

Marine Log - April 2008

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