NSRV13

BRAEMAR SEASCOPE OFFSHORE

MONTHLY MAGAZINE

December 2012 ISSUE: 57

MARKET NEWS

& ANALYSIS

VESSEL DAYRATE

CHARTS

RIG NEWS

BROKER

COMMENTARY

Picture Courtesy of Michael Bates

Welcome to the latest edition of the

Braemar Seascope Offshore North Sea

Vessel Report. December brings with it

further news of slackness in the North

Sea support vessel market which is dia-

metrically opposed to the continuing

strength in the rig market. The fallout of

October’s helicopter ditching continues

to affect the market as vessels are taken

on for crew transfers but that has done

little to mitigate low rates.

Despite evidence of oversupply in the

market there are still a steady stream of

newbuild orders being placed and deliv-

eries from yards. The latest arrival is the

Skandi Haugen which was named last

week and commences a seven-year

charter with ConocoPhillips Norway.

Average dayrates for spot AHTS fixtures

in November were GBP 12,224 and GBP

7,729 for large and medium vessels re-

spectively. Meanwhile, PSV rates were

GBP 7,241 and GBP 4,936. December

average rates are expected to be lower

again than these figures.

We hope you find the latest edition of

our report useful and look forward to

hearing your feedback and comments.

Enjoy the upcoming festive period. The

next edition of this report will be out

early in the New Year.

Sean Bate

Market Analysis Manager

[email protected]

Click Here to go to

Online Version

Subsea

Market

Latest

For the latest on the subsea con-struction and sur-vey vessel availabili-ties please contact us for a copy of our Subsea Vessel Mar-ket Summary. We are constantly mon-itoring the require-ments, fixtures and availability of the North Sea fleet. For more information please email us.

Click here to leave Feedback

W hilst there has been a steady flow of

spot fixtures for anchor handlers and

platform supply vessels in the past

weeks there remains the situation of

too many ships chasing too few requirements. Poor

weather also this month has delayed or cancelled op-

erations reducing the overall number of vessel fixtures

and requirements.

Things remain particularly difficult on the UKCS where

lay berths and anchorages have been full sending day

rates falling for even the most advanced ship types.

The outlook is that this is likely to remain for some

time with further vessels elsewhere expected to re-

turn to the market in the coming days / weeks.

That said in recent times the availability of approved

PSV's in the Norwegian sector has started to thin out a

bit sending rates to higher levels In Norway for the

first time in a good while. Those Norwegian Owners

on the UK side are now turning their vessels around to

Norway to seek better fortunes and closely monitor-

ing long term tenders yet to be awarded. But still for

many revenues are well below or at parity with oper-

ating costs, a challenging time for all involved in the

offshore market. Oversupply is also now being seen in

the medium / large construction and ROV market

where we are seeing multiple ships tied up alongside

and on the spot market waiting to plug the gap before

better times in March -

April 2013.

Meanwhile some very large

OCV's with SPS compliance

and bed space have been

fortunate enough to find

charters shuttling person-

nel offshore. This in light of the recent grounding of

Super Puma EC225 aircraft. There seems to be a mix-

ture of fortunes amongst oil companies with some

facing continued problems of Helicopter

supply for phased drilling campaigns and

project start ups whilst others with a mix

of heli options are making do just fine.

Some feel helicopter availability will im-

prove gradually towards the New Year,

but there is evidence that shuttle vessels

with SPS code, bed space and DP capabil-

ity will still be called on from time to time in the com-

ing months.

Some Oil companies therefore see personnel transfer

via ship as being a long term part of their logistics

strategy evidenced by the reactivation of gangway

programmes and testing operations - latest being

Troms Capella for trial W2W duties with BP Unity and

other locations. The challenge though remains for

some Owners, particularly in the new year and Q1/Q2

when the next phase of New Build PSV's comes on

stream. Some will turn to vessel conver-

sion or specialist markets to get away

from the daily supply market.

Shipbroker - Offshore

GRAEME RIDDELL

Broker CommentaryBroker CommentaryBroker Commentary

Click Here to Email Graeme

[email protected]

Tel: +44 (0)1224 628 470

“Large OCVs with SPS

Compliance Secure

Charters Shuttling

Personnel.”

The newbuild vessel Sea Tantalus has been fixed on a one year plus two one year options contract with Enquest in the North Sea. The vessel is one of four PSVs Seatankers are building in India and is expected to be de-livered in the first quarter of 2013. Meanwhile the Sea Falcon has been chartered for five years by Apache to carry out general pool support in the North Sea.

There are six outstanding long-term requirements: 1 x PSV / Nexen / 1 year + 1 x 9 month opt / Dec 2012 1 x PSV / Talisman / 9 months + 2 x 6 mth opts / Dec 2012 1 x PSV / Peterson SBS / 1 year + 2 x 1yr / Jan-Feb 2013 1 x PSV / BG UK / 3 years + 2 x 1 yr/ 5 yrs + 2 x1 yr Jun 2013 1-2 AHTS / Statoil / 1, 3 or 5 yrs + opt / Jun-Dec 2013 1 x PSV / BP N / 5 yrs + 5 x 1 yr opts / comm 2013-2015

A series of PSVs/Offshore construction vessels have been chartered in a passenger transportation role. The vessels including: Toisa Coral, Far Scotsman, Olympic Command-er, Island Enforcer, North Sea Giant and the Olympic Ori-on have all been carrying out a level of passenger work. This follows the continuing grounding of a large number of helicopters after the controlled ditching of a Super Pu-ma EC 225 in the North Sea south of Shetland in October.

There are three outstanding medium-term requirements: 1 x PSV / MLS / 5 wells + 3 well opts / comm Jan-Feb 2012 1 x PSV / E.On / 3 months + 6 x 1 wks + D/D 14 / Feb 2013 1-2 PSV / Saipem / Supply Duties / 60-100 days / Q1 2013

Medium-Term Requirements

Long-Term Requirements

Passenger Transfer Duties for PSVs

Sea Falcon & Sea Tantalus Secure Work

©Copyright Braemar Seascope Offshore 2012

CharteringCharteringChartering

The large PSV Bourbon Clear has been chartered to car-ry out supply duties for BP UK. The vessel has been fixed for three months firm plus two one month op-tions. The Bourbon Clear will be taking over the role that has previously been filled by the Skandi Sotra. The PX-105 designed Bourbon Clear is currently on charter with ORG and will commence the charter with BP shortly and is expected to conclude the firm part of the contract in March 2013.

The medium sized PSV FD Indomitable has been chartered by Taqa to support a work programme by Transocean’s John Shaw. The vessel has been fixed for two years firm with three additional one well options. The vessel has pre-viously been working for Taqa on another contract since around March this year. The UT-755 L designed vessel is equipped with DP2, deck area of around 716 square me-tres, Fifi 1 and Oilrec.

The large PSV Olympic Orion has been chartered by GdF from early December for three months firm work plus additional options for an extra month and four one week options after that. The MT-6015 designed PSV is currently carrying out work for Centrica. The Olympic Orion is a 2011-built vessel equipped with DP2 and a deck area of around 1060 square metres.

The newbuild PX-121 designed PSV Blue Prosper which was delivered in September has been fixed on a long-term contract with Apache. The vessel has been fixed for one year firm plus an additional one-year option. Apache already has the sister ship Blue Fighter on one-year char-ter. The vessels are the first of six sister ships under con-struction at Ulstein Verft with the remaining vessels due for delivery in 2013.

Apache Charters Blue Prosper

FD Indomitable Goes to Taqa for 2 Years

Bourbon Clear Fixed to BP

©Copyright Braemar Seascope Offshore 2012

CharteringCharteringChartering

Olympic Orion Chartered for Three Months

The PSV Skandi Aukra has now departed the North Sea to commence a two-year term charter in Angola with DOF. The fixture is for two years plus two optional years. The vessel, which was delivered earlier this year, is an STX PSV 09 vessel equipped with DP2, a deck area of around 1,000 square metres and accommodation for 26 personnel. It is also equipped with Clean Design, Oil Rec notation and methanol tanks.

The large PSV Troms Castor has been fixed to Chevron Canada to support a work programme with the Stena Car-ron. The VS-485 CD designed vessel has been fixed for 150 to 180 days. The Troms Castor is currently working for Statoil and is expected to commence its work with Chev-ron Canada in the first quarter of 2013. Troms is actively marketing itself as “A trustworthy seven sea operation—specialised in harsh polar conditions.”

The medium sized PSV Malaviya 18 is heading back to the North Sea on completion of a long-term charter in India. The vessel will be carrying out a brief yard stay for work on her mud tanks ahead of joining the North Sea spot market. The UT-755 L designed vessel is ex-pected to arrive on around the 23rd December and is currently charter free.

ASCO Norway has fixed the large PSV Energy Swan on a one-well programme with the Maersk Giant rig. In addition to the firm period there is also a further one-well option on the vessel. The Energy Swan is an ST-216 L designed vessel that was previously carrying out term work BP TENAS it is expected to return to the North Sea sport market in January 2013.

ASCO Fixes Energy Swan

Troms Castor to Support Canada Work

Malaviya 18 Heading to North Sea

Skandi Aukra Fixed for Angola Work

©Copyright Braemar Seascope Offshore 2012

CharteringCharteringChartering

Shelf Drilling has completed the acquisition of 38 rigs from Transocean. The closure of the deal follows an announce-ment of the plan in September. Under the deal the new firm will concentrate on providing shallow water drilling services in Asia, Africa and the Middle East utilising the 37 jack-up drilling rigs and one swamp barge that it has ac-quired.

Blue Ship Invest and Atlantic Offshore have signed a man-agement agreement over the newbuild PX-121 designed vessel Blue Power. Under the term of the deal, Atlantic Offshore will be responsible for the commercial and tech-nical management of the vessel upon its delivery from the Ulstein Verft yard in February 2013. Blue Power is the third in a series of six sister ships being built for Blue Ship.

Chinese national oil company CNOOC is continuing to tackle issues around its planned acquisition of Nexen. CNOOC entered an agreement to acquire Nexen in July this year and has recently withdrawn and resubmitted a Joint Voluntary Notice with respect to the proposed ac-quisition with a view to completing a Committee on For-eign Investment in the United States review process as expeditiously as possible.

MTQ Corporation has announced a planned off-market takeover bid for Neptune Marine Services. The company already owns a substantial shareholding in Neptune via its wholly owned subsidiary Bloomsvale Investments. Mean-while, Neptune has been awarded a contract from Modec to carry out works at the Modec Venture 11 FPSO in the Carnarvon Basin off Western Australia. A vessel supplied by Pacific Radiance will be utilised in January 2013.

MTQ Bids for Neptune Takeover

Atlantic Takes on Blue Power Management

CNOOC Nexen Acquisition Continues

Shelf Drilling Closes Deal for 38 Rigs

©Copyright Braemar Seascope Offshore 2012

CorporateCorporateCorporate

Market reports indicate that the rig

market could continue to tighten in the

coming months potentially pushing day-

rate even higher. According to some

sources rates could reach around the

USD 200,000 for standard units as de-

mand both in the North Sea and Inter-

nationally continues to gather pace with

little indication that this growth could

slow before 2015. Ultra-deepwater

units are in particularly high demand for

exploration activity.

Meanwhile, GdF has chartered the

Transocean rig GSF Monarch on an 18-

month contract in the UK North Sea.

According to Transocean the rig has

been fixed at a rate of USD 162,000 and

the rig’s prior dayrate was USD 95,000

indicating an uplift of over 70%. The

contract is set to commence in Decem-

ber 2013.

The Leiv Eiriksson semisubmersible that

has been drilling in the Falkland Islands

for Falklands Oil & Gas and Borders &

Southern Petroleum is expected to head

to the North Sea in the next few weeks

with and arrive before the end of Janu-

ary. In February this year Ocean Rig

announced a three-year (15 well) pro-

gramme for the rig on the Norwegian

Continental Shelf were it will work for a

consortium for a minimum period of

1070 days. The contract includes three

option of six wells each and is expected

to commence in the first quarter of

2013.

Taqa In

$1bn

BP Deal

Taqa has expanded its

North Sea portfolio by

acquiring a number of

BP assets. The Abu Dha-

bi company has agreed

to buy a number of as-

sets worth more than

USD 1 billion. The deal

include the planned ac-

quisition of a 70% inter-

est in Harding, 37.03%

interest in Maclure and

an 88.7% interest in the

Devenick field in the

central North Sea. Taqa

will also increase its non

-operated interests in

the Brae area and asso-

ciated transport infra-

structure including the

SAGE systems, Forties

Brae and Forties-

Braemar pipelines.

Norway UK/Irl Denmark Netherlands Stacked without future contract

Stacked with future contract Total

Drillship 2 2

Jackup 9 17 7 5 2 40

Semi-Sub 20 16 2 4 42

Total 29 35 7 5 2 6 84

ChartChart Rig Rig Rig

Rig Activity by Type and Country

On Board Grampian Protector Last December

$0

$20

$40

$60

$80

$100

$120

$140

Jan

-05

Ma

y-0

5

Se

p-0

5

Jan

-06

Ma

y-0

6

Se

p-0

6

Jan

-07

Ma

y-0

7

Se

p-0

7

Jan

-08

Ma

y-0

8

Se

p-0

8

Jan

-09

Ma

y-0

9

Se

p-0

9

Jan

-10

Ma

y-1

0

Se

p-1

0

Jan

-11

Ma

y-1

1

Se

p-1

1

Jan

-12

Ma

y-1

2

Se

p-1

2

PricePrice Oil Oil Oil

BunkerBunkerBunker

450

500

550

600

650

700

Bu

nke

r P

rice

GB

P/M

T

Bunker Price in Aberdeen 2011 to Present

PricePrice

Price courtesy of Scandinavian Bunkering, subject to supply method, volume and market fluctuations.

200520052005---201220122012

Vroon Offshore Services has sold their 1975 built multi-role ERRV Vos Challenger to the Danish shipbreakers Fornaes. The ship has now left the ERRV fleet and will be recycled. The vessel, which was built in Groningen in Holland, has an LOA of 58.85m, a beam of 12m and a rescue craft and davit.

The standby market remains very active although some pock-ets of availability have opened up these are likely to prove temporary with demand in 2013 generally expected to be similar to 2012 when for long periods the fleet was effective-ly fully utilised. Meanwhile, ADTI is tendering for a vessel to support a 5-8 well drilling programme with the Ensco 100 at the Stella field in the Central North Sea commencing in March. The firm period is estimated to be around 450 days.

GdF Suez & SPD are believed to be close to finalising con-tracts for their requirements with the Noble Ronald Hoope (in the UK South North Sea) & the Transocean Prospect (Central North Sea) respectively commencing in January. Meanwhile, CNR is thought to have fixed the Grampian Prince for one-two months work at the Lyell Field in the Northern North Sea and the Ocean Swift has been chartered by Centrica for a similar period for ERRV support at the Mal-lard field in the Central North Sea. Both contracts are sched-uled to commence around mid December.

Talisman Energy is seeking a vessel to support a six to twelve month programme from the first quarter of 2013. The vessel will be utilised to support a drilling programme on the Montrose/Arbroath field in the central North Sea with the Rowan Stavanger. The jack-up is currently on charter to Talisman’s Norwegian counterpart.

Talisman Energy Requires Standby Vessel

Standby Market Expected to be Tight in 2013

Number of Contracts Being Finalised

Vos Challenger Sold for Recycling

©Copyright Braemar Seascope Offshore 2012

Standby/ERRVStandby/ERRVStandby/ERRV

PF Thor has ordered four newbuild seismic vessels that will be chartered to Petroleum Geo Services (PGS) on ten-year time charters. The ST204 designed vessel being built at Turkish shipyard Besiktas will be delivered from the third quarter of 2014 onwards. The vessels will be equipped with Ice Class 1A, accommodation for 60 per-sonnel and will have efficient propulsion systems to ena-ble up to 60 per cent fuel saving on some of the current vessels in use by PGS.

Subsea 7 has signed a contract with Hyundai Heavy In-dustries for a newbuild dive support vessel which will be delivered in 2015. The vessel will join the DSVs in the Subsea fleet which currently include the 2010-built Sev-en Atlantic and the 2011-built Seven Havila.

Vroon Offshore Services has taken delivery of the subsea support vessel VOS Sweet. The newbuild was delivered from Fujian Southeast Shipyard in China on November 19th and is expected to be available for charter in Europe early next year. The DP2 VOS Sweet is also equipped with four-point mooring, and is suitable for ROV survey, con-struction and diving jobs. The vessel also has on-board accommodation for 50 personnel.

Electromagnetic Geoservices has had its contract for the Atlantic Guardian vessel extended for a further six months with two additional three-month options and a flexible start-up date. The vessel has already completed the basalt mapping project in the Norwegian Sea and is currently transiting to dry dock in Bergen for class renewal and gen-eral maintenance. The vessel has a flexible start-up date for the new period and will be available for charter during the standby period.

Atlantic Guardian Extended

Subsea 7 Orders Newbuild DSV

VOS Sweet Delivered

PGS Charters Four Seismic Vessels

©Copyright Braemar Seascope Offshore 2012

SubseaSubseaSubsea

The Crown Estate confirms further UK tidal energy sites. The announcement includes an agreement with the Isle of Wight Council, Orkney-based Scotrenewables Tidal Power and deployment of a prototype off Northern Island by company Minesto. According to the Crown Estate the pro-jects will play an important role in facilitating further re-search and development, testing and commercialisation of tidal energy technologies.

Forewind has announced the project boundaries for the first four of the Dogger Bank windfarm projects. According to the firm these represent a significant step to finalising the site selection and design of the projects. Two of the projects will connect into the national grid in Yorkshire and two will connect into Teeside. The four projects are Cryeke Beck A (515 km2 131 km from shore), Cryeke Beck B (599 km2, 131 km to shore), Teesside A (560 km2, 196 km to shore) and Teesside B (595 km2 and 165 km to shore).

The UK Government’s Department of Energy and Climate Change has introduced a new Energy Bill which aims to bring in GBP 110 billion of investment to replace and up-grade the generating capacity and the grid by 2020. The bill includes provision for Contracts for Difference - long term contracts with the aim of providing stable and pre-dictable incentives for companies to invest in low-carbon generation.

Alicat Workboats Ltd has bought the Isle of Wight based boatbuilder South Boats. The new venture is aiming to be the leading specialist in the manufacture and service of crew transportation vessels to offshore windfarms as well as providing refit and repair facili-ties. South Boats had an order book of GBP 21 million and further enquiries worth up to GBP 35 million.

Alicat Workboats Buys South Boats

Forewind Reveals First 4 Dogger Projects

Energy Bill Plans to Attract GBP 110 BN

Three Tidal Energy Sites Given Go Ahead

©Copyright Braemar Seascope Offshore 2012

RenewablesRenewablesRenewables

Prosafe has entered into an agreement with Jurong ship-yard for construction of a second harsh environment semi-submersible accommodation rig. The vessel, which will be named Safe Zephyrus, is scheduled for delivery at the end of 2014. The GVA 3000 E designed unit will be compliant with Norwegian regulations and equipped with DP3, 12-point mooring and accommodation for 450 personnel in single cabins. There are also options for a further two units.

Bibby Offshore has taken ownership of the Toisa Polaris dive support vessel. The vessel was originally chartered by Bibby Offshore in January 2012 on a two-year time char-ter with options to extend plus an additional purchase op-tion as part of the deal with Toisa. Bibby exercised the op-tion and took delivery of the vessel in Stavanger at the end of October. The vessel has since been renamed Bibby Polaris and is expected to continue with operations in the North Sea.

Market reports indicate that Chevalier Floatels has bought an accommodation barge with imminent plans to convert it into an accommodation vessel for the offshore con-struction market. The 2003-built barge, which will be named Sans Vitesse, will be upgraded to include 88 cab-ins, en-suite bathrooms and showers. The company plans to complete the vessel by the first quarter of 2013 and target it at the offshore wind farm sector.

Siem Offshore has signed a contract with Hellesoy yard in Norway for the construction of a duel fuel VD 4411 DF De-signed PSV. Upon completion the vessel will begin a four-year contract with Total Norway with a further four one-year options. In addition, Siem Offshore will also hold an option for an additional sister vessel at the yard. The ves-sels will have an loa of 89m, a beam of 19m and a deck ar-ea of around 970 square metres. The vessels will be able to use marine diesel oil and LNG.

Siem Offshore Orders Dual Fuel PSV

Toisa Polaris Sold to Bibby

Chevalier Hotels Adds Barge

Prosafe Orders Second Vessel

©Copyright Braemar Seascope Offshore 2012

Sale & Purchase Sale & Purchase Sale & Purchase

DayratesDayrates PSV PSV PSV

£0

£5,000

£10,000

£15,000

£20,000

£25,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Ave

rage

Sp

ot

Day

rate

Large PSVs (700m2+ Clear Deck) 2011 Medium PSVs (500-700m2 Clear Deck) 2011

Large PSVs (700m2+ Clear Deck) 2012 Medium PSVs (500-700m2 Clear Deck) 2012

£0

£10,000

£20,000

£30,000

£40,000

£50,000

£60,000

£70,000

£80,000

£90,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Ave

rage

Sp

ot

Day

rate

Large - AHTS (16,000+ BHP) 2011 Medium - AHTS (12-15,999 BHP) 2011 Large - AHTS (16,000+ BHP) 2012 Medium - AHTS (12-15,999 BHP) 2012

DayratesDayrates AHTS AHTS AHTS Average North Sea Spot Average North Sea Spot Average North Sea Spot

AHTS Rates 2011/12AHTS Rates 2011/12AHTS Rates 2011/12

Average North Sea Spot Average North Sea Spot Average North Sea Spot

PSV Rates 2011/12PSV Rates 2011/12PSV Rates 2011/12

£0

£5,000

£10,000

£15,000

£20,000

£25,000

£30,000

£35,000

£40,000

Jan

-04

Ma

r-0

4

Ma

y-0

4

Jul-

04

Se

p-0

4

No

v-0

4

Jan

-05

Ma

r-0

5

Ma

y-0

5

Jul-

05

Se

p-0

5

No

v-0

5

Jan

-06

Ma

r-0

6

Ma

y-0

6

Jul-

06

Se

p-0

6

No

v-0

6

Jan

-07

Ma

r-0

7

Ma

y-0

7

Jul-

07

Se

p-0

7

No

v-0

7

Jan

-08

Ma

r-0

8

Ma

y-0

8

Jul-

08

Se

p-0

8

No

v-0

8

Jan

-09

Ma

r-0

9

Ma

y-0

9

Jul-

09

Se

p-0

9

No

v-0

9

Jan

-10

Ma

r-1

0

Ma

y-1

0

Jul-

10

Se

p-1

0

No

v-1

0

Jan

-11

Ma

r-1

1

Ma

y-1

1

Jul-

11

Se

p-1

1

No

v-1

1

Jan

-12

Ma

r-1

2

Ma

y-1

2

Jul-

12

Se

p-1

2

No

v-1

2

Large PSVs (700m2+ Clear Deck) Medium PSVs (500-700m2 Clear Deck)

DayratesDayrates PSV PSV PSV

£0

£20,000

£40,000

£60,000

£80,000

£100,000

£120,000

£140,000

Jan

-04

Ma

r-0

4

Ma

y-0

4

Jul-

04

Se

p-0

4

No

v-0

4

Jan

-05

Ma

r-0

5

Ma

y-0

5

Jul-

05

Se

p-0

5

No

v-0

5

Jan

-06

Ma

r-0

6

Ma

y-0

6

Jul-

06

Se

p-0

6

No

v-0

6

Jan

-07

Ma

r-0

7

Ma

y-0

7

Jul-

07

Se

p-0

7

No

v-0

7

Jan

-08

Ma

r-0

8

Ma

y-0

8

Jul-

08

Se

p-0

8

No

v-0

8

Jan

-09

Ma

r-0

9

Ma

y-0

9

Jul-

09

Se

p-0

9

No

v-0

9

Jan

-10

Ma

r-1

0

Ma

y-1

0

Jul-

10

Se

p-1

0

No

v-1

0

Jan

-11

Ma

r-1

1

Ma

y-1

1

Jul-

11

Se

p-1

1

No

v-1

1

Jan

-12

Ma

r-1

2

Ma

y-1

2

Jul-

12

Se

p-1

2

No

v-1

2

Large - AHTS (16,000+ BHP) Medium - AHTS (12-15,999 BHP)

DayratesDayrates AHTS AHTS AHTS

Average North Sea Spot Average North Sea Spot Average North Sea Spot

AHTS Rates 2004AHTS Rates 2004AHTS Rates 2004---201220122012

Average North Sea Spot Average North Sea Spot Average North Sea Spot

PSV Rates 2004PSV Rates 2004PSV Rates 2004---201220122012

Braemar Seascope Offshore is a division of

Braemar Shipping Services PLC, a leading

integrated provider of brokering and con-

sultancy services to the shipping industry.

At Braemar Seascope Offshore our aim is

to provide cost effective solutions to our

clients' offshore programmes.

Regular advances in technology mean our

work is a direct response to constantly

changing market needs.

From offices in London, Aberdeen and Sin-

gapore we specialise in the worldwide off-

shore market.

Our services include:

Spot and period chartering

Short sea and ocean towage

Newbuild and second hand sale &

purchase

Bespoke research and reports

Corporate mergers, acquisitions &

fleet sales

Valuation services

Contact

Us Sean Bate

Market Analysis

Manager

35 Cosway Street

London

NW1 5BT

UK

Phone:

+44 (0)20 7903 2736

E-mail:

research

@seascope.co.uk

Click here to leave Feedback

B raemar Seascope Offshore is in an ideal posi-

tion to offer industry insight on all aspects of

the offshore vessel market across the globe.

Our expert brokers are on call 24 hours a day

and are able to offer advice, information and up-to-the-

minute detail on vessel rates, availability and positions.

Visit the Braemar Seascope Offshore

website by clicking the logo below

or going to:

www.braemarseascope.com

WEBSITE

CONTACT US

©Braemar Seascope Offshore