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RS Platou Global Support Vessel Monthly February 2012
RS Platou Global Support Vessel Monthly February 2012
RS Platou Global Support Vessel Monthly February 2012
February 2012
February 2012
REPORT OVERVIEW
Table of Content
Spot Chartering North Sea Day Rates .
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Term Chartering North Sea Day Rates . . . . . . South America Day Rates .. . East- and West-Africa Day Rates US Gulf Day Rates . . . . . . . . Southeast Asia Day Rates . . .
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4 5 5 6 6
Demand Indicators Oil and Gas Prices . . . . . . . . . . . . . . Crude Oil Supply and Demand . . . . . . . World Economy - Real GDP Growth .. . Rig Activity . . . . . . . . . . . . . . . . . . .
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10 10 10 10
North Sea Fleet Activity Supply, Demand and Utilization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 11 AHTS & PSV Activity Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 12 Recent Fixtures, Extensions and Outs. Req. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 13
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While care has been taken in good faith to ensure that the information in this report is accurate and complete, it is intended to be used as a general guide and not to be relied upon as a definitive source. RS Platou ASA cannot accept any responsibility whatsoever for direct or consequential losses arising from the use of this document or its contents even in the event of errors. This report is confidential and the reproduction, distribution and/or republication of this report or its contents is strictly forbidden without prior and express approval from RS Platou ASA. Unauthorized reproduction, distribution and/or republication of this publication will be subject to legal action.
RS Platou ASA
page 2
February 2012
16,000+ BHP
10-15,999 BHP
500-899 m2
RS Platou ASA
page 3
February 2012
10-15,999 BHP
25
25
20
20
15
15
10
10
0 00 01 02 03 04 05 06 07 08 09 10 11
RS Platou ASA
page 4
February 2012
USD '000 40 35 30 25 20 15 10 5 0 02 03 04 05 06 07 08 09 10
USD '000 40 35 30 25 20 15 10 5 0 11
500-750 m2
900+ m2
2 3 4 6
PSV 500-750 m2
USD '000 40 35 30 25 20 15 10 5 0 02 03 04 05 06 07 08 09 10
10,000 BHP
12,000 BHP
RS Platou ASA
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February 2012
YTD Ave USD Rates AHTS <8,000 BHP AHTS 8-11,999 BHP AHTS 12,000+ BHP 2011 -
20,750 30,750
# # # # #
AHTS 5,000 BHP AHTS 7,000 BHP AHTS 8,000 BHP AHTS 10,000 BHP AHTS 12,000 BHP
USD '000 45 40 35 30 25 20 15 10 5 0
8,000 BHP
RS Platou ASA
page 6
February 2012
SECOND-HAND VALUES
AHTS Second-Hand Market Small AHTS Overview
YTD YTD 2012 9.5 12.0 16.0 18.0 17.3 22.5 23.5 29.0 Jan 2011 10.0 12.8 16.5 19.0 18.5 24.0 23.5 29.0 Dec 2011 9.5 12.0 16.0 18.0 17.3 22.5 23.5 29.0 Jan 2012 9.5 12.0 16.0 18.0 17.3 22.5 23.5 29.0 1 year % change -5.0 % -5.9 % -3.0 % -5.3 % -6.8 % -6.3 % 0.0 % 0.0 %
# # # # # # # #
Size 5,000 BHP 5,000 BHP 7,000 BHP 7,000 BHP 8,000 BHP 8,000 BHP 10,000 BHP 10,000 BHP
Age 5 yrs old RESALE 5 yrs old RESALE 5 yrs old RESALE 5 yrs old RESALE
3 2 5 4 7 6 9 8
30 25 20 15 10 5 0
Numbers in USDm
2 3 4 5 6 7
Size 12,000 BHP 12,000 BHP 14,000 BHP 16,000 BHP 18,000 BHP 25,000 BHP
5 6 7 9 # #
80 70 60 50 40 30 20 10 0
Numbers in USDm
8 9 # #
# # # #
70 60 50 40 30 20 10 0
Numbers in USDm
RS Platou ASA
page 7
February 2012
NEWBUILDING ACTIVITY
Supply Vessel Orderbook
Total AHTS 4-7,999 BHP AHTS 8-9,999 BHP AHTS 10-15,999 BHP AHTS 16-19,999 BHP AHTS 20,000+ BHP AHTS Total PSV <500 m2 PSV 500-749 m2 PSV 750-899 m2 PSV 900+ m2 PSV Total Total Orderbook * 133 15 35 26 14 223 33 52 52 136 273 496 2012 112 15 26 19 9 181 26 29 19 64 138 319 2013 20 0 7 5 4 36 7 20 23 46 96 132 2014+ 1 0 2 2 1 6 0 3 10 26 39 45
40 20 0 02 03 04 05 06 07 08 09 10 11 5,000 BHP 12,000 BHP 18,000 BHP (NOR TONNAGE) 8,000 BHP 14,000 BHP (NOR TONNAGE) 23,000+ BHP (NOR TONNAGE) 40 20 0
*When presenting the newbuilding activity we only consider AHTS and PSV vessels. Vessels below 50m LOA are excluded from the fleet, as well as AHTS vessels below 4.000 BHP and PSV vessels below 1.000 dwt. NB: As newbuilding prices for the larger vessels reflects NOR tonnage and reported in USD, the NOK/USD exchange rate has an impact.
RS Platou ASA
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February 2012
GLOBAL FLEET
Fleet Development
Jan 2011 AHTS 4-7,999 BHP AHTS 8-9,999 BHP AHTS 10-15,999 BHP AHTS 16-19,999 BHP AHTS 20,000+ BHP AHTS Total PSV <500 m2 PSV 500-749 m2 PSV 750-899 m2 PSV 900+ m2 PSV Total Total * 966 184 293 92 61 1596 329 424 68 168 989 2585 YTD Deliv. 9 2 5 2 0 18 3 2 1 8 14 32 0 0 0 YTD Scrap Jan 2012 1081 206 312 102 67 1768 370 424 72 201 1067 2835 1 year % change 11.9 % 12.0 % 6.5 % 10.9 % 9.8 % 10.8 % 12.5 % 0.0 % 5.9 % 19.6 % 7.9 % 9.7 %
Y-on-Y % change 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 AHTS PSV Y-on-Y % change 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% 0%
South America 9%
1737 1768
1044 1067
*When presenting the global fleet we only consider AHTS and PSV vessels. Vessels below 50m LOA are excluded from the fleet, as well as AHTS vessels below 4.000 BHP and PSV vessels below 1.000 dwt.
RS Platou ASA
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February 2012
DEMAND INDICATORS
Oil and Gas Prices
YTD USD End Month Brent Dated WTI Henry Hub 2011 96.5 89.2 4.5 YTD 2012 110.8 100.3 2.4 Dec 2011 108.0 98.6 3.2 Jan 2012 110.8 100.3 2.4 Demand in mbd OECD Non OECD World Oil Consumption Supply in mbd World Oil Production
USD 160 140 120 100 80 60 40 20 0 02 03 04 05 06 07 08 09 10 11 12 13 YOY WORLD (%) YOY 3M WORLD (%) WORLD (mbd) USD 16 14 12 10 8 6 4 2 0 Y-on-Y % Change 14 12 10 8 6 4 2 0 -2 -4 -6 65 02 03 04 05 06 07 08 09 10 11 70 75 80 90 85
Future Future
2 3 4 5 6 7 8 9 #
NOTE: The graph presents 12 months historical estimates for the Annual GDP Growth in 2010, 2011
Rig Activity
Jackup Demand North Sea - UK North Sea - Other North Sea - Total US Gulf South America West-/South-Africa Pacific Rim India Middle East/East Africa Other Total Jan 2011 9 18 27 47 6 18 72 34 83 16 303 Jan 2011 14 21 38 31 64 26 27 16 202 505 Nov 2011 17 22 39 71 6 21 80 27 94 15 353 Nov 2011 13 23 42 35 72 32 26 16 223 576 Dec 2011 18 23 41 71 6 21 82 27 96 12 355 Dec 2011 11 23 38 35 73 32 28 17 223 578 1 month % change 5.9 % 3.4 % 4.5 % -0.5 % 0.0 % 0.0 % 1.8 % 1.9 % 1.5 % -20.0 % 0.5 % 1 month % change -17.9 % 0.0 % -9.2 % -0.2 % 1.9 % 0.0 % 7.9 % 6.3 % 0.2 % 0.4 %
No. of Rigs 400 350 300 250 200 150 100 50 0 02 03 04 05 06 07 08 09 10 11 No. of Rigs 400 350 300 250 200 150 100 50 0
Floater Demand North Sea - UK North Sea - Norway North Sea - Total US Gulf South America West-/South-Africa Pacific Rim Other Total Total Demand
Jackup Demand
Floater Demand
RS Platou ASA
page 10
February 2012
Spot 0 23 30 53
Avl. 6 21 11 38
Yard 2 6 5 13
Lay-Up 1 1 2 4
YTD AHT Demand Supply Utilization (%) AHTS Demand Supply Utilization (%) PSV Demand Supply Utilization (%) Total Demand Supply Utilization (%) 2011 4 11 36
YTD 2012 1 10 10
Jan 2011 4 11 36
Dec 2011 2 10 20
Jan 2012 1 10 10
50 0
2007 Term
2009 Avl.
2010
2011 Yard/Lay-Up
Fleet Utilization
66 81 81 52 80 65 66 81 81 56 80 70 52 80 65 -21.2 % -1.2 % -20.2 %
100% 90% 80% 100% 90% 80% 70% 60% 50% 40%
166 179 93
168 186 90
166 179 93
164 186 88
168 186 90
236 271 87
221 276 80
236 271 87
222 276 80
221 276 80
40%
2007
2008 AHTS
2009 PSV
2010
2011 Total
Angola Brazil Newbuilding Newbuilding Newbuilding Newbuilding India Qatar United States Ghana Libya Australia
RS Platou ASA
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February 2012
Term 14 10 5 29
Spot 6 3 14 23
Avl. 3 6 7 16
Yard 2 2 2 6
Lay-Up 1 0 0 1
90 80 70 60 50 40 30
10-15.999 BHP Demand Supply Utilization (%) 16-19.999 BHP Demand Supply Utilization (%) 20.000+ BHP Demand Supply Utilization (%) Total Demand Supply Utilization (%)
YTD 2011 17 23 74
YTD 2012 20 26 77
Jan 2011 17 26 65
Dec 2011 19 27 70
Jan 2012 20 26 77
Term
Spot Work
Available
Yard/Lay-Up
17 22 77
13 21 62
17 22 77
15 20 75
13 21 62
30 31 97
19 28 68
30 31 97
22 28 79
19 28 68
64 76 84
52 75 69
64 79 81
56 75 75
52 75 69
50% 40%
2007
2008
2009
2010
2011
10-15.999 BHP
16-19.999 BHP
20.000+ BHP
Term 36 14 88 138
Spot 14 8 8 30
Avl. 7 1 2 10
Yard 1 1 3 5
Lay-Up 2 0 0 2
500-749 m2 Demand Supply Utilization (%) 750-899 m2 Demand Supply Utilization (%) 900+ m2 Demand Supply Utilization (%) Total Demand Supply Utilization (%)
YTD 2011 57 66 86
YTD 2012 50 60 83
Jan 2011 57 66 86
Dec 2011 46 60 77
Jan 2012 50 60 83
Spot Work
Available
Yard/Lay-Up
85 87 98
96 101 95
85 87 98
95 99 96
96 101 95
80% 70%
165 178 93
168 185 91
165 178 93
163 184 89
168 185 91
2007
2008
2009
2010
2011
500-749 m2
750-899 m2
900+ m2
RS Platou ASA
page 12
February 2012
Recent Fixtures
SIZE 1,000 m2 1,000 m2 1,017 m2 901 m2 817 m2 906 m2 850 m2 868 m2 683 m2 716 m2 700 m2 1,040 m2 1,005 m2 817 m2 686 690 680 700 912 912 m2 m2 m2 m2 m2 m2
deck deck deck deck deck deck deck deck deck deck deck deck deck deck deck deck deck deck deck deck
CHARTERER ADTI UK ALLSEAS NL ALLSEAS NL ALLSEAS NL ALLSEAS NL ALLSEAS NL APACHE UK APACHE UK E.ON RUHRGAS AG ENQUEST UK ENQUEST UK MARATHON N MOG DK NORECO DK NORECO DK PETERSON NL PETERSON NL RWE DEA UK LTD RWE DEA UK LTD SHELL UK SHELL UK STATOIL FAROE STATOIL N STATOIL FAROE TALISMAN UK TAQA UK TOTAL UK
COUNTRY GBR NLD NLD NLD NLD NLD GBR GBR DEU GBR GBR NOR DNK DNK DNK NLD NLD GBR GBR GBR GBR NOR NOR NOR GBR GBR GBR
START 15.02.2012 01.04.2012 01.04.2012 01.04.2012 01.04.2012 01.04.2012 07.02.2012 15.01.2012 15.03.2012 15.02.2012 15.02.2012 15.03.2012 01.02.2012 03.02.2012 03.02.2012 20.01.2012 06.01.2012 01.03.2012 16.01.2012 01.04.2012 01.04.2012 15.05.2012 31.03.2012 15.05.2012 01.01.2012 15.02.2012 31.01.2012
PERIOD 6 Months 2 Months 2 Months 2 Months 2 Months 2 Months 12 Months 12 Months 3 Months 9 Months 9 Months 3 Months 2 Months 1 Month 1 Month 12 Months 12 Months 6 Months 4 Months 60 Months 60 Months 4 Months 6 Months 4 Months 3 Months 7 Months 2 Months
COMMENT SUPP. JU ROWAN NORWAY PIPEHAUL LAGGAN PIPEHAUL LAGGAN PIPEHAUL LAGGAN PIPEHAUL LAGGAN PIPEHAUL LAGGAN 1 YEAR FIRM + 1 YEAR OPT GEN.SUPP. SUPP. JU ENSCO 100 9 M FIRM + 2 X 3 M OPT 9 M FIRM + 2 X 3 M OPT SUPP. SS WINNER 60 DAYS FIRM + D/D 30 1 WELL JU M. RESOLVE (LUNA) STBY JU M. RESOLVE GEN.SUPP. 1 YEAR FIRM + 2 X 1 YEAR OPT 4 WELLS FIRM + 5 X 1 WELL OPT SUPP JU ENSCO 92 GEN.SUPP. GEN.SUPP. STBY DP SS COSL PIONEER OPT DECL GEN.SUPP. SUPP DP SS COSL PIONEER STBY 7 M FIRM + 2 X 1 M OPT 45 D FIRM + 2 X 1 WEEK OPT
Recent Extensions
# # # # # # # # # # # # # # # # TYPE PSV PSV PSV NAME HAVILA CRUSADER FAR SERVER GRAMPIAN EXPLORER SIZE 1,005 m2 deck 800 m2 deck 640 m2 deck CHARTERER BP N CONOCOPHIL. N MARATHON UK COUNTRY NOR NOR GBR START 23.02.2012 01.02.2012 01.02.2012 PERIOD 2 Months 2 Months 12 Months COMMENT SUPPLY DUTIES GEN.SUPP. GEN.SUPP.
Outstanding Requirements
TYPE STBY PSV PSV STBY STBY STBY STBY PSV PSV PSV PSV PSV PSV STBY CHARTERER BG UK BP UK CENTRICA UK CONOCOPHIL. N CONOCOPHIL. N EOG RESOURCES UK HESS UK MAERSK OIL UK PETERSON NL STATOIL N TALISMAN UK TOTAL UK WINTERSHALL N WINTERSHALL N
COMM. DATE 01.03.2012 01.03.2012 01.02.2012 15.06.2012 15.05.2012 09.04.2012 01.03.2012 15.03.2012 01.04.2012 01.03.2012 01.03.2012 01.03.2012 01.07.2012 01.07.2012
PERIOD 36 Months 2 Months 3 Months 1 Month 2 Months 2 Months 7 Months 2 Months 6 Months 2 Months 12 Months 36 Months 15 Months 15 Months
COMMENT ERRV DUTIES, 3 OR 5 YEARS SUPP DS STENA CARRON 5 MOS FIRM + 2X1M 1 PSV SUPP SSDR NTVL / 2 WELLS FIRM STBY DUTIES THIALF STBY DUTIES BALDER ERRV SEAFOX 1 - EAST IRISH SEA ERRV SS WILPHOENIX 10 WKS FIRM + 6 X 1 WK OPTS NTVL SUPPORT DP2 PSV FOR W2W 180 DS OR 18 MOS FIRM PSV 800-1000 M2, 6 MOS+2X6 OR 3 MOS+3 12 OR 15 MONTHS + OPTS - SEDCO 704 / 711 SUPP WEST PHOENIX WEST OF SHETLAND SUPP SS TO ARCTIC 10 W. FIRM+5 OPT W. STBY SS TO ARCTIC 10 W. FIRM+5 OPT W.
RS Platou ASA
page 13
February 2012
Financial Services In addition to the traditional activities, we offer financial advice and services. RS Platou Finans is one of the major finance companies in Norway that specializes in shipping and offshore-related financial schemes in the interest of both shipowners and financial investors.
RS Platou ASA
page 14
February 2012
RS Platou Offshore - Contacts: Direct number OSLO Anker, Peter M. (Managing Partner & CEO) Offshore Support Brugrd, Christian Aml, Rolf Bjrkli, Tor-yvind Erdal, Per Fosse, Ole Middelthon, Lars Johan Karlsen, Eric Stle Rostant, Andr Rusdal, Gry Rustad, Arne Sandsbrten, Karine Strandens, Tallak Vollster, Ivar Xia, Lianghui Zhner, Lars Christian Aamodt, Marianne Drilling Units Spillum, Magne Bjerke, Petter H. Gotteberg, Geir Nilsen, ge Red Floating Production Arthur, Erik Offshore Research Ziegler, Sven Asplin, Mikal Bollinger, Rita Hgheim, Brd SINGAPORE Bartz-Johannessen, Christian Annat, John Chung, Mili Geelmuyden, Adrian Helseth, Erik Khaizan, Muhlizah Kvaerneng, Markus Leung, Alice Massarotto, Federica Singh, Lakhjit Ugland, Peter Wee, Jimmie Henley, Robert Jacobsen, Per-Robert Tay, Toh Ho CAPE TOWN Pethick, Simon Watson, Mark MOSCOW Steinsvik, Brge Espedal, Odd Arild HOUSTON Boje, Tyler Donley, Bob RIO DE JANEIRO Nikolaisen, Andr Barros, Gilberto Habbema De Maia, Lucia Woodrow, Daniel DUBAI Henderson, Ian Obeid, Ahmad Marsigan, Marj THE STEWART GROUP LIMITED Aberdeen (Main Office) London Ghana +44 122464 6574 +44 208297 7474 +223 548954 178 Mobile number
+47 23 11 24 64
+47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47
23 23 23 23 23 23 23 23 23 23 23 23 23 23 23 23
11 11 11 11 11 11 11 11 11 11 11 11 11 11 11 11
27 27 27 27 27 27 27 27 27 27 27 27 27 27 27 27
13 25 20 19 22 10 37 34 36 12 02 38 18 51 23 04
+47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +47 +45 +47
922 971 906 915 901 934 934 992 975 416 913 913 901 468 204 900
14 61 27 96 47 38 46 45 42 66 78 03 91 53 40 40
028 040 014 818 507 948 160 649 662 716 832 630 657 642 962 330
23 23 23 23
11 11 11 11
27 27 27 27
50 14 21 48
52 06 04 70
+47 23 11 27 94
23 23 23 23
11 11 11 11
25 27 27 27
32 53 40 42
13 09 25 39
+65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65
63 65 63 65 65 65 65 65 65 65 65 65 63 65 65
36 44 03 44 44 44 44 44 44 44 44 44 36 44 44
92 66 49 34 66 66 66 66 66 66 66 66 92 66 66
73 24 58 74 05 07 34 06 08 19 14 13 75 22 18
+65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65 +65
966 818 972 912 972 962 965 964 923 945 961 973 967 933 973
18 29 47 80 67 55 77 52 11 75 83 07 78 69 67
903 770 430 781 116 014 903 008 033 937 072 805 697 253 970
+1 281 260 9980 +1 281 260 9980 +5521 +5521 +5521 +5521 3923 3923 3923 3923 8804 8803 8806 8805
+1 713 634 9088 +1 281 797 8608 +5521 +5521 +5521 +5521 7207 8546 9699 9751 2768 0354 2057 9890
RS Platou ASA
page 15