2nd International Conference on Technology & Operation of Offshore Support Vessels
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The document summarizes the unprecedented high utilization rates and tight supply conditions in the offshore oil and gas industry. Spot charter rates for vessels are at all-time highs in the mid $20,000s per day for AHTS and mid-teens for PSVs. Shipyards have a backlog of orders through 2011 and suppliers have leverage to increase prices due to long delivery times. The fleet profile shows over 20% of large AHTS are over 20 years old. Oil production is forecast to continue increasing in Southeast Asia.
2nd International Conference on Technology & Operation of Offshore Support Vessels
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- 2. Marine Pte. Ltd. Market Unprecedented high levels of Utilisation Rates as high as we have ever seen Spot UT704s in the mid $20ks per day New 5000 BHP vessels in mid teens (around the $3 / BHP mark). Crazy crazy prices for spot rig moves Subsea support vessels at all time highs Sellers Market (Equipment, shipbuilding, Charter and SnP) Shipyard supply tight through 2011 Suppliers have upper hand, prices rise, deliveries long
- 3. Marine Pte. Ltd. World Fleet Profile AHTS & PSVs Size 油 Ships in Operation Ships on Order Fleet > 20 Yrs Large AHTS 12,000 + BHP 212 98 23% Medium AHTS 7-11,999 BHP 357 111 70% Small AHTS 4-6,999 BHP 531 82 73% 油 油 油 油 油 Large PSV 4,000+ DWT 114 54 0% Medium PSV 1500-3999 DWT 396 104 22% Small PSV <1500 DWT 299 12 99%
- 5. Marine Pte. Ltd. Worldwide Onshore and Offshore Oil Production (1960-2010 forecast)
- 6. Marine Pte. Ltd. SEA Oil Production Forecast Volume
- 8. Marine Pte. Ltd. World Fleet Profile AHTS & PSVs Size 油 Ships in Operation Ships on Order Fleet > 20 Yrs Large AHTS 12,000 + BHP 212 98 23% Medium AHTS 7-11,999 BHP 357 111 70% Small AHTS 4-6,999 BHP 531 82 73% 油 油 油 油 油 Large PSV 4,000+ DWT 114 54 0% Medium PSV 1500-3999 DWT 396 104 22% Small PSV <1500 DWT 299 12 99%
- 9. Marine Pte. Ltd. Oil price - Now and Then ?
- 10. Marine Pte. Ltd.
- 11. Marine Pte. Ltd.
- 12. Marine Pte. Ltd. While optimistic.. my imagination is too limited to have scripted this past years perfect storm: high oil prices, urgency to drill, and shortages of equipment. In our businesses little, perhaps nothing, can beat being in the right place at the right time. The boom in energy for the moment has overshadowed careful planning and proves again the old adage, better lucky than smart. The offshore business merits a standing ovation. Lets hope this year we get an encore and not the fat ladys aria. Charles Fabrikant, April 2007
- 13. Marine Pte. Ltd. Thank You