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OSVS & CABLE INSTALLATIONS GLOBAL MARINE EXPANDS ITS FLEET


CS Recorder will Support Telecoms Customers with Installation Projects Across the Globe.


Global Marine Systems Limited, the world leader in subsea cable systems design, installation and maintenance, announced today the addition of the 6,200 ton cable deadweight CS Recorder to its existing fleet of vessels. Built in 2000, the vessel formerly known as the Maersk Recorder, has previously been chartered by Global Marine for numerous cable installation projects and has since successfully completed work in the oil and gas and renewables sectors. The newly named CS Recorder is intended to support the telecoms installation business growth over the next 5-10 years, with a number of critical projects scheduled during 2018, 2019 and 2020.


CS Recorder will be equipped with a plough system and Remotely Operated


Trenching Vehicle (ROV) to ensure it is fully prepared to undertake the full range of telecoms cable installation projects.


The addition of this latest vessel to our fleet demonstrates our continuing commitment to ensuring the appropriate assets are available to meet our customers’ needs across the globe, and to our core business of telecoms cable installation, even in a market where the current trend is for assets to be relinquished, rather than added.


Bruce Neilson-Watts, Managing Director, Telecoms at Global Marine.


The CS Recorder joins Global Marine’s current fleet of 25 vessels, which now consists of four maintenance vessels, (Cable Retriever, Pacific Guardian, Wave Sentinel, Cable Innovator);


three installation vessels, (CS Recorder, C.S. Sovereign, Networker); and 18 CWind Crew Transfer Vessels. She replaces the Cable Innovator following her reassignment in the fourth quarter of 2016 to become a dedicated maintenance vessel for the North America Maintenance Zone (NAZ) submarine cable contract; a contract running through to the end of 2024. The CS Recorder is expected to be available for use in the fleet for installation projects at the end of the first quarter 2017.


UK BUDGET SEEN AS POSITIVE FOR OFFSHORE OIL AND GAS SECTOR


The UK Budget announced last month is seen as positive for the offshore industry oil and gas industry in the North Sea.


The Budget saw a number of measures designed to support the sector which has been hard hit by the slump in the oil price since the second half of 2014.


“Improvements to the oil and gas regime, meanwhile, include an extension to investment and cluster area allowances, and tax for late-life oil and gas assets. These are aimed at improving the attractiveness of the North Sea as an area for investment,” commented Sue Bill, tax partner at Moore Stephens.


Maritime union Nautilus also welcomed the plans to support the North Sea oil and gas, but also called for the protection of seafarer jobs and working conditions in the sector.


“The downturn in the offshore energy sector has hit British seafarers really hard, with hundreds of job losses and many more being forced to accept radical cuts in their pay and conditions,” said Mark Dickinson, General Secretary of Nautilus.


“It is encouraging to see support for the offshore oil and gas industry in the Budget, however we must ensure the government is comprehensive in its approach. Nautilus and our members are calling on the plans to be bolstered with no-cost measures to ensure the assistance actually benefits British seafarers and British offshore support vessel operators, rather than helping to prop up foreign-crewed and foreign-flagged operations.”


OFFSHORE SUPPLY VESSEL DEMAND TO REMAIN STABLE IN THE MIDDLE EAST, SAYS ANALYST


The Middle East is the only region to buck the downward trend in offshore supply vessels (OSV) over the last two years, according to new analysis from IHS Markit.


Demand in the region has remained steadfast since the oil price decline began in 2014 and outpaced Southeast Asia, the Gulf of Mexico and the North Sea.


Demand for OSV in the Middle East was 2.6% higher in December 2016 than in January 2016, according to Petrodata, part of IHS Markit. That is an increase from an average of 270 vessels secured on term charters at the start of the year to almost 278 during the final month.


West Africa saw a 30% reduction, the US side of the Gulf declined 31%, and Mexico lost 53% of term work during last year, according to Petrodata.


The opportunities for OSV in the Middle East have attracted idle tonnage from other markets affected by reduced exploration and production spending. The influx of vessels from other regions has resulted in a 14% increase in the number of OSV in the Middle East last year and brought utilization rates down to just 45%, according to Petrodata.


The Middle East is now the second biggest global OSV market with 17% of the global fleet, behind Asia/Pacific. The shallow- water territory of the Middle East has overtaken OSV tonnage in the mature, deepwater markets of the Gulf of Mexico, northwest Europe, Latin America, and West Africa.


April 2017 | www.sosmagazine.biz | p29


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