www.fearnleyofshoresupply.

com
Ofshore Support and Specialized Vessels
THE OFFSHORE REPORT
27
th
June 2013 www.fearnleyofshoresupply.com
No. 3 | 2013

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Front page photo: “Pacifc Orca” in acton during March 2013 for AF DECOM OFFSHORE at H7 platorm.
Charter concluded with the assistance of Fearnley Ofshore Supply. With courtesy of Swire Blue Ocean A/S.
© FEARNLEY OFFSHORE SUPPLY AS
Copyright 2013 Fearnley Ofshore Supply AS. Reproducton in any form is strictly forbidden without direct licensed permission from Fearnley
Ofshore Supply AS. While informaton is presented in good faith, Fearnley Ofshore Supply AS cannot accept liability for any errors of fact
or opinion. No liability can be accepted for any loss incurred in any way whatsoever by any person who may seek to rely on the informaton
contained herein.
TABLE OF CONTENTS
ON THE SIDE
1.0 FRANKLY SPEAKING
2.0 SPOTLIGHT
3.0 FROM THE TIGER’S MOUTH
4.0 FROM DEEP DOWN TO SKY HIGH
5.0 PERIOD MARKET
6.0 ON THE ROAD
7.0 UNVOCERED REQUIREMENTS
8.0 CORPORATE
9.0 THE SALE & PURCHASE MARKET
10.0 THE NEWBUILDING MARKET
11.0 IN THE WAKE
12.0 COMPANY INFO
3
4
5
6
7
14

15
15
16
18
22
23
SHIP OF THE YEAR 2013 - “SEVEN VIKING”
We congratulate Eidesvik Seven AS – Eidesvik Ofshore ASA and Subsea 7 S.A. (50/50) with Skipsrevyen’s prestgious
SHIP OF THE YEAR 2013 award at Nor-Shipping 4th June.
The vessel of ULSTEIN SX148 design’s scope of operaton will be to install subsea structures, maintain and repair the
subsea control systems, repair and replacement of riser systems and fow lines, te-in of pipelines and umbilicals,
scale treatment of subsea wells and ROV inspectons. Designed with an X-Bow hull line, MS “Seven Viking” will now
serve Statoil for a period of fve years.

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1.0 FRANKLY SPEAKING
Samba!
Afer more than one year without long term awards of vessel contracts, Petrobras re-entered the OSV scene when
the dust from the Carnival and Easter holiday setled, and in course of one month they had absorbed 31 PSVs from the
market and ensured 23 newbuild contracts being placed at Brazilian yards. The frst contracts were awarded to 2012
bidders of the PSV 3,000 tenders, where 24 vessels were fxed for 4 years frm + 4 x 1 year optons. The next award
was 8 years contracts to 23 newbuildings, 9 PSVs for the PSV 4,500 General Cargo tender and 14 Response vessels
for the OSRV 750 tender. In early May seven more PSVs were awarded 4 + 4 years contracts, with rate levels at USD
32,500-35,000 per day.
This wave of contracts did not afect the internatonal market directly, as most of these vessels are already operatng
in Brazil, but it was nevertheless a boost for the market’s confdence in more tenders and award actvity in Brazil.
Nor-Shipping 2013 took place in Oslo in the beginning of June. This bi-annual exhibiton is one of the most important
shipping events globally and atracts a lot of atenton from the internatonal shipping market. The weak market for
conventonal shipping has led many to snif at the ofshore market, and Nor-Shipping embraced this development by
arranging a special focus day for ofshore shipping, similar to what they arranged in 2011. The same did Tradewinds,
which launched a one-day conference focusing on the OSV market.
A common theme during Nor-Shipping, and in the market in general, is the high actvity level in exploraton and
constructon we are currently witnessing, and the consequences of the rapid announced growth. The queston
is whether we will see a strong market in the next 5-7 years or whether the increasing cost level will choke the
development and lead to more delays and cancellatons. Oil producton from ofshore reserves has declined in
the recent years, but this will shif to growth in the coming years. This is apparent from the current high drilling
rig utlizaton and the numerous awarded EPCI tenders for feld development. At the Tradewinds event Managing
directors of Vroon and K-line debated their largest challenges at the moment and agreed that the challenge was
not to be overly excited about this market outlook and balance the expected technology development from the
charterers that is driving up the capex.
The shipping industry is keen on getng a piece of the OSV pie, while the OSV owners themselves are busy with
getng a piece of the Subsea niche pie. We believe that the owners’ focus on subsea constructon vessels leave
renewal of other segments, like the high end PSV and AHTS feet, unatended, potentally leading to an undersupply
in a few years’ tme.
Looking ahead, we foresee contnued high actvity in Asia and more Samba from Brazil. The North Sea market spot
and term market is startng to make owners jolly, and we see signs that 2013 can be a year where the market turned
afer several years of declining market rates.

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April 2013 May 2013 June 2013
AHTS 16,500 bhp + 14,000 - 125,000 9,250 - 133,300 22,500 - 108,330
AHTS 10-16,499 bhp 7,000 - 95,000 8,500 - 100,000 10,000 - 55,000
PSV (Deck 750m2 +) 6,500 - 26,100 6,700 - 33,300 13,500 - 32,780
PSV (Deck - 750m2) 7,000 - 25,500 8,500 - 21,000 15,500 - 30,550
2.0 SPOTLIGHT
Please fnd below the high and low North Sea spot market ranges March - May 2013. (Rates in Pounds Sterling per day excl.
fuel):
To follow the North Sea Spot market more closely, visit our web-site for spot positons and the latest fxtures:
www.fearnleyofshoresupply.com
Since our last market report in March, the spot demand
and spot rates for AHTS, varied substantally. The daily
rates peaked up to in excess of NOK 1,500,000 per day
but, importantly also with ‘low’s’ down to rates below
NOK 100,000 per day. During June 2013 however,
the general spot rate levels rose considerably as even
medium size AHTS, fxed at rates up to GBP 85,000 per
day. Already now, by the end of June, the rates for these
vessels have come down to GBP 35,000-50,000 per day
level. The large and powerful AHTS are stll enjoying rates
varying from GBP 65,000 to above GBP 100,000 per
day. Right now there are signs of a possible weakening
in the short term market as 10 AHTS + are seeking work
but few rig moves to pick them up. A few AHTS have, or
will shortly, depart the North Sea for other geographical
areas like Egypt, Canada and the Caribbean. Most of
these vessels are expected back in the North Sea during
late summer/early autumn.
The large, modern PSVs have enjoyed a market which
gradually has strengthened the last few months. Now,
the spot rates for these type PSVs are up to NOK 300,000
per day. Despite new vessels leaving North European
Shipyards entering the spot market, the market remains
strong. Due to the lack of available high specifcatons
PSV’s in May 2013, we saw a few AHTS taking on cargo
runs only. Afer the rise of AHTS market, this is no longer
the case as AHTS vessels for cargo runs hardly pay
more than NOK 200,000 - 250,000 per day. A few high
specifcaton PSVs have, or will shortly, depart the North
Sea for areas like West Africa and Canada to support
modern, advanced Dynamically positoned operatons.
The medium size PSVs have also enjoyed a strengthening
in the spot market. Today a UT-755, VS470, MT6009 or
similar is obtaining up rates up to GBP 25,000 per day
level. Older PSVs are presently fxing in the U.K. at rates
between GBP 13,500 and 17,500 per day.
When trying to look ahead, we should not forget the
simple fact that the spot market has always been very
unpredictable. With a very high actvity level in the North
Sea , also pulling some AHTS into work scope like Subsea
support, bundle tows etc., we dare predict that the short
term future for AHTS vessels looks balanced and fair.
For the PSVs we forecast a bright summer with high spot
rates. The lack of available large/modern PSVs may be a
challenge for Charterers. `
AHTS “Havila Jupiter” seen in Las Palmas loading chains, before
moving on to Egypt. With courtesy of Blue Water Shipping.

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3.0 FROM THE TIGER’S MOUTH
The second quarter is drawing to a close and it has resembled the frst three months of the year with plenty of
‘acton’. Fixing actvity has been high with most of the region contributng to higher utlizaton for owners.
Indonesian cabotage is stll being adhered to, a number of vessels have been refagged and a number are in the process
of fagging. We have seen a gradual shif among the oil companies in Indonesia to award longer term contracts rather
than well by well contracts. This makes it possible for owners to justfy the fag change. Over the last few months
three 12,000 BHP AHTS vessels and two 3,500 dwt PSVs have been fagged Indonesian and we expected to see larger
horsepower anchor handlers to follow suit in the very near future.
Malaysian actvity came of to a slow start to the quarter
with a number awards being held up due to the electons.
Actvity is however back to normal and a handful of
medium sized anchor handlers and supply vessels have
lef Singapore for work in Malaysia. Despite an increase
in number of Malaysian fagged vessels, foreign fagged
vessels are stll in strong demand.
Philippines, Vietnam, Thailand and Myanmar have all done
their part in keeping vessels at work. Judging by current
tender and market screening actvity we should expect
healthy demand for the third and fourth quarter of the
year.

UT755CDE“PoshShearwater”-workingforInpexIndonesia
In previous years the 5,150 bhp AHTS has been the commodity boat in the sale and purchase market. Today the Asian
designed medium size PSV has assumed that role, with deadweight ranging from 3,200 to 3,800 tons, around 700 m2
deck area, 50 men accommodaton and DP2. The boat proves good value and is suitable for most markets. Between
ten and ffeen of these PSVs have changed hands in recent months and appette amongst buyers remains strong for
this size of boat. PSVs have for years been workhorses in other regions, however in South East Asia it is only in the
later years we have seen a spike in their popularity. With more focus on fuel consumpton, emissions and economies
of scale, the medium sized PSV has a bright future in South East Asia.
One would expect that with the actvity levels described
above some signifcant moves in dayrates could be
expected. Unfortunately for owners the rate curves
remains fat as a result of the high level of supply.
Sitng in Singapore one is lef with the feeling that for
every boat that sails of to work, a new vessel arrives from
a yard. New orders are stll being placed by established
owners as well as speculators, so saying that the rate
situaton will improve any tme soon would be giving false
hope.
0
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000
45 000
50 000
U
S
D
Term fixture rates - South East Asia
AHTS 12-16,499 BHP
PSV larger than 750m2 deck
PSV less than 750m2 deck
AHTS 10-11,999 BHP
AHTS 7-9,999 BHP
AHTS 5 - 6,999 BHP
© Fearnley Offshore Supply

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4.0 FROM DEEP DOWN TO SKY HIGH
The right fundamentals are in place for a contnued strong subsea industry, with all indicators pointng towards high
ofshore constructon actvity; oil price, rig-demand, E&P spending and forecasted subsea Capex. We have however
over the last couple of months started to see a mix of news and signals which may result in more soberness and
cauton going forward with respect to new subsea vessel orders.
We are unfortunately reading too ofen these days negatve market comments like E&P companies’ concern about
rising cost levels, E&P majors’ postponements of projects (ref. Mad Dog II and Johan Castberg), negatve proft
warnings from one of the largest subsea contractors and even a contract terminaton of a long term vessel charter. In
the short term this is part of creatng a cloudy picture of the subsea industry and with the orderbook of large subsea
constructon vessels already bulging we feel the balance currently being in place may be vulnerable. An additonal
potental worry is the fact that even though many vessels have been booked up on 3 to 5 years contracts many of the
charterers are ter-2 or 3 charterers and they do not necessarily have contract coverage and these contractors have
to compete amongst themselves and also upwards, with the ter-1 subsea majors. One example is the last Statoil IRM
tender where three subsea contractors decided to book newbuild vessels as part of their bid eforts and strategy,
but in the end only one of them secured the long term contract, leaving two companies with long term contract
commitments and consequent capex as a result. Also a potental “killjoy” is the announcement of between 4-8 US
built, Jones Act, high capacity Ofshore Constructon Vessels. These vessel may, when delivered, replace European
tonnage and reduce the overall demand for such tonnage in the US Gulf.
So with some clouds on the horizon, at least for the short term, it unfortunately appears that the announced subsea
demand bonanza will be pushed further into the future and this may very well leave the rush of vessels built on
speculaton in a vacuum when leaving yards in 2013 and 2014.
As mentoned earlier the various subsea vessel segments are in fact fairly balanced, and the long term rates recorded
for modern LCV/CONs are giving owners’ a decent return on their investment, but there is nothing exceptonal about
the fgures we have seen so far. The charter periods recorded are however notably longer than what we have been
used to in the past – while 3 year frm contracts used to be more the norm in the past there is now a higher volume
of 5-8 year frm charters entered in the last 12 months than we have ever seen before.

Constructon and ROV vessel “Skandi Bergen”, STX OSCV 11L design,
recently delivered from Vard Søviknes, Norway (ex STX OFFSHORE
Søviknes). The vessel has 120.8 m loa, 22 m breadth, 250 ts crane and
accommodaton for 100 persons.
Multpurpose Subsea Support and Constructon vessel “Rem Installer”,
MT 6022 design, recently delivered from Kleven Verf, Norway.
The vessels has 107.6 m loa, 22 m breadth, 250 ts crane and
accommodaton for 110 persons.

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Charterer Vessel Period Del. Day Rate (Abt.)
ABB, Germany PSV “Siddis Skipper” (3,600 dwt) 4 months 07.13 GBP 17,500
ADTI PSV “Rem Supplier” (3,268 dwt)
PSV “Rem Provider” (3,326 dwt)
PSV “Malaviya 7” (4,587 dwt)
1 well frm
1 well frm (abt. 120 days)
4 wells frm + 3 wells opt.
05.13
05.13
05.13
GBP 15,500
GBP 16,000
GBP 13,750
Allseas, UK PSV “UP Jasper” (3,326 dwt)
PSV “Fanning Tide” (4,800 dwt)
50 - 60 days
50 - 60 days
05.13
05.13
GBP 16,500
GBP 16,500
Atlantc Ofshore, UK Standby “Ocean Troll” (12,560 bhp) 5 years bareboat 05.13 RNR
BG group, UK PSV “Blue Power” (4,200 dwt)
PSV “Kongsborg” (4,700 dwt)
5 years frm + 3 years opt.
1 year + 1 year opt. + 3 x 4
monthly opt.
04.13
06.13
GBP 16,500
RNR
Bluewater AHTS “BB Troll” (15,000 bhp) 30 days frm + opt. 06.13 RNR
BP, UK PSV “Olympic Orion” (4,800 dwt)
PSV “SBS Tempest” (3,800 dwt)
PSV “Idun Viking” (3,300 dwt)
PSV “Grampian Talisker” (3,890 dwt)
4 months frm + opt.
9 months frm + opt.
3 months frm+3 monthly opt.
5 years
05.13
04.13
04.13
06.13
RNR
GBP 11,000
GBP 11,000
RNR
Centrica, UK PSV “Viking Nereus” (3,300 dwt)
PSV “Mana” (3,289 dwt)
28 days frm + 6 weekly opt.
1 well + 4x1 well opt.
04.13
06.13
GBP 11,500
GBP 12,500
CNR, UK PSV “Toisa Intrepid” (4,470 dwt) 3 years frm + 3 years opt. 04.13 GBP 12,750
ConocoPhillips, Norway PSV “Rem Fortune” (4,900 dwt)
PSV “Stril Neptun” (2,900 dwt)
PSV “Rem Fortune” (4,900 dwt)
32 days frm + 14 daily opt.
84 days frm + opt.
2 years frm + 1 x 3 years opt.
+ 3 x 2 months + 3 x 1 months
opt.
05.13
05.13
06.13
RNR
NOK 120,000
NOK 170,000
ConocoPhillips, UK PSV “Lundstrom Tide” (4,435 dwt) 4 months frm + 3 months opt. 05.13 GBP 15,000
DOF Subsea, Norway AHTS “Rem Gambler” (32,440 bhp) 30 days + opt. 06.13
E.On Ruhrgas PSV “SBS Cirrus” 3 months frm + 8 weekly opt. 05.13 GBP 14,500
ENI, Norway PSV NB “Møkster TBN” (3,650 dwt) 10 years, Goliat feld Barents
Sea
06.15 NOK 220,000
EOG Resources, UK PSV “Ocean Surf” (3,115 dwt) 7 wells (abt. 300 days) 04.13 GBP 10,750
ExxonMobil, Norway PSV “Olympic Electra” (3,500 dwt)
PSV “Stril Odin” (4,000 dwt)
4 weeks frm + 3 weekly opt.
+ D/D 30
5 months + 3 x 1 month opt.
04.13
08.13
NOK 195,000
NOK 170-180,000
GDF Suez E&P Norge/BG
NORGE
PSV “Siddis Supplier” (3,350 dwt) 3 years frm 04.13 NOK 130,000
Heerema Marine Contrac-
tors
PSV “Frigg Viking” (3,300 dwt) 60 days frm 05.13
RNR
Maersk Oil, UK PSV “E.R. Georgina” (4,250 dwt) 1 year + 2 x 1 year opt. 06.13 GBP 15,500
5.1 North Sea/Europe:
5.0 PERIOD MARKET - a selecton of representatve fxtures since our last report, 27
th
March 2013.

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Charterer Vessel Period Del. Day Rate (Abt.)
Nexen, NorwayUK PSV “Far Server” (4,000 dwt) 3 months frm + 6 weeks opt. 06.13 GBP 16,500
Nordic Dive Enterprises AHTS “Siem Garnet” (28,000 bhp) 4 months + opt.
Norske Shell PSV “KL Broford” (5,000 dwt)
PSV NB “Siem TBN” (5,000 dwt,VS
4411DF)
PSV “Rem Fortress” (4,900 dwt)
1 months + 5 x 1 week opt.
3 years + 3 x 1 years opt.
18 months + 6 x 1 month opt.
06.13
1Q.15
07.13
NOK 280 - 300,000
NOK 190,000
NOK 185-190,000
Perenco, PSV “Malaviya 20” (3,317 dwt) 4 weeks + 3 weeks + D/D 14 06.13 GBP 15,500
Peterson, NL PSV “Skandi Waveney” (3,350 dwt)
PSV “Island Endeavour” (3,180 dwt)
PSV “Highland Citadel” (3,300 dwt)
PSV “Olympic Princess” (4,160 dwt)
28 days frm + 2 w + D/D 14
1 year ext.
1 year
3 months + opt.
04.13
08.13
05.13
06.13
EUR 12,500
RNR
RNR
RNR
Ross Ofshore, Norway PSV “Blue Guardian” (4,200 dwt) 2 wells support “Maersk
Giant”
06.13 NOK 165,000
RWE PSV “Toisa Coral” (3,248 dwt) 28 days frm + 14 daily opt. 04.13 RNR
Shell, UK PSV “Ben Nevis” (4,000 wt)
PSV “Edda Ferd” (5,122 dwt)
PSV “Dina Supplier” (3,311 dwt)
PSV “Edda Fram” (4,100 dwt)
1 year frm + 4 yearly opt.
5 years + 5 years opt.
1 month + opt.
1 year ext.
05.13
10.13
06.13
04.13
RNR
RNR
GBP 16,500
RNR
SPD PSV “Brage Trader” (4,800 dwt) 1 well frm (60 - 90 days) 06.13 GBP 18,750
Statoil FSV “Stril Poseidon” (14,552 bhp)
AHTS “Northern Commander” (14,200
bhp)
2 years ext.
2 months ext.
07.13
04.13
RNR
RNR
Talisman, UK PSV “Solvik Supplier” (4,900 dwt)
Standby “Sea Sailor” (3,100 bhp)
1 year frm + 2 x 6 m opt. ext.
6 months frm + 6x1 month
opt.
04.13
06.13
RNR
RNR
Team, UK PSV “Highland Eagle” (3,200 dwt)
PSV “Normand Flipper” (4,340 dwt)
PSV “FD Unbeatable” (3,300 dwt)
PSV “North Vanguard” (3,118 dwt)
PSV “Toisa Invincible” (4,470 dwt)
30 days frm + opt.
1 well frm
1 well frm + 1 well opt.
400 days frm
90 days frm + 4 weekly opt.
05.13
04.13
04.13
04.13
04.13
RNR
GBP 18,000
RNR
RNR
RNR
Total, UK PSV “Skandi Buchan” (4,100 dwt) 12 months ext. 08.13 RNR

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Charterer Vessel Period Del. Day Rate (Abt.)
Baker Hughes, India PSV “Lewek Atlas” (3,600 dwt) 3 years 04.13 USD 22,000
Britsh Gas, India PSV “Kamet” (3,350 dwt) 7 months 04.13 USD 23,000
BHP Billiton, Australia AHTS “Far Strait” (14,700 bhp)
AHTS “Far Scimitar” (15,900 bhp)
AHTS “Maersk Supporter” (18,250 bhp)
Abt. 1 month
45 days
06.13
05.13
04.13
RNR
USD 45,000
RNR
Inpex, Indonesia PSV “Posh Shearwater” (3,200 dwt) 12 months + 1 months opt. 05.13 USD 22,000
Brunei Shell Petroleum AHTS “Lady Caroline” (13,200 bhp) 6 months 05.13 USD 23,500
Chevron, Thailand AHTS “Skandi Hercules” (35,000 bhp) 3 months 04.13 RNR
COOEC, China AHTS “Hai Yang Shi You 697” (12,000 bhp) Pipe laying project at the PY
34-1 feld, South China Sea
RNR
Emas, Thailand AHTS “Jul Sofus K” (5,150 bhp) 4 weeks 05.13 USD 10,500
ExxonMobil, Malaysia AHTS “Omni Victory” (8,000 bhp) 3 months 06.13 USD 16,000
Exxon Nefegaz, Russia ICE “Aleksey Chirikov” (24,473 bhp) 10 years 06.13 RNR
Fugro, Qatar AHTS “Smit Kamara” (6,700 bhp) 6 months 04.13 USD 19,000
Galoc, Philippines AHTS “Maersk Searcher” (18,250 bhp)
AHTS “Pacifc Batler” (12,240 bhp)
4 months
4 months
05.13
05.13
RNR
RNR
Gazprom, Russia AHTS “Posh Commander” (16,000 bhp)
AHTS “Posh Concorde” (16,320 bhp)
AHTS “Posh Champion” (16,000 bhp)
86 + 60 days
4 months
4 months
05.13
05.13
06.13
USD 32,000
USD 32,000
USD 32,000
Geokinetcs, Malaysia AHT “Omni Astrid” (4,200 bhp) 3 months 06.13 USD 9,000
GSP, Russia PSV “Toisa Coral” (3,248 dwt)
AHTS “Toisa Elan” (24,129 bhp)
3 months
3 months
05.13
05.13
RNR
RNR
Hess, Malaysia AHTS “Sea Ocelot” (10,880 bhp)
PSV “Tanjung Piai 1” (3,500 dwt)
1 + 1 years
1 year
04.13
05.13
USD 19,000
USD 22,000
KPOC, Malaysia AHTS “Sealink 178” (12,000 bhp)
AHTS “Toisa Dauntless” (12,240 bhp)
PSV “Sea Flyer” (4,700 dwt)
6 months
3 months
1 month
05.13
05.13
05.13
USD 25,000
USD 21,500
USD 23,000
Kris Energy, Indonesia AHTS “Jaya Chiefain” (8,160 bhp) 2 months 04.13 RNR
McDermot/Saudi
Aramco
AHT “Britoil 50” (6,600 bhp)
AHT “Britoil 65” (5,400 bhp)
14 months
14 months
06.13
06.13
RNR
RNR
Mitra Energy, Vietnam AHTS “Sea Comanche” (10,760 bhp) Abt. 1 month 05.13 USD 19,000
Mubadala, Malaysia AHTS “Pacifc Barbarian” (12,240 bhp)
AHTS “Lewek Petrel” (10,880 bhp)
150 days
150 days
05.13
05.13
USD 22,000
USD 22,000
Murphy Oil, Malaysia AHTS “Posh Conquest” (16,320 bhp) 18 months 04.13 USD 28,000
Niko, Indonesia AHTS “Maersk Supplier” (18,250 bhp)
AHTS Pacifc Defance” (17,250 bhp)
60 days +
30 days
04.13 USD 40,000
USD 28,000
Oil Search, Australia AHTS “Far Fosna” (14,400 bhp) 3 + 3 months 04.13 USD 45,000
5.2 Asia/Australasia/Sakhalin/Middle East:

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Charterer Vessel Period Del. Day Rate (Abt.)
ONGC, India PSV “PFS Supplier” (3,100 dwt)
AHTS “PFS Brave” (6,500 bhp)
AHTS “PFS Courage” (6,500 bhp)
PSV “Ocean Amethyst” (3,000 dwt)
AHTS/Safety “Malaviya 23” (10,800 bhp)
44 days frm + 31 days opt.
44 days frm + 31 days opt.
44 days frm + 31 days opt.
44 days frm + 31 days opt.
3 years
04.13
04.13
04.13
04.13
04.13
RNR
RNR
RNR
RNR
RNR
Origin Energy, New
Zealand
AHTS “Skandi Emerald” (16,300 bhp)
AHTS “SKandi Pacifc” (16,000 bhp)
160 days + opt.
160 days + opt.
08.13
08.13
RNR
RNR
Origin Energy, Vietnam AHTS “Sea Choctaw” (10,760 bhp)
PSV “Highland Guide” (2,800 dwt)
AHTS “Go Canopus” (10,800 bhp)
60 days
60 days
1 + 1 well
06.13
06.13
05.13
USD 18,000
RNR
USD 21,000
Oto Energy, Philippines AHTS “Pacifc Batler” (12,240 bhp)
AHTS “Maersk Searcher” (18,250 bhp)
1 + 1 well
1 + 1 well
04.13
04.13
RNR
RNR
Pertamina, Indonesia AHTS “Pacifc Valour” (8,810 bhp) Long term 05.13 RNR
Petrofac, Malaysia AHTS “Jasa Marin TBN” 3 years + 1 year opt. 07.13 USD 10,700
Petronas Carigali,
Malaysia
AHTS “Seta Tegap” (5,000 bhp)
PSV “Seta Gigih” (5,220 bhp)
AHTS “Swissco Superior” (4,750 bhp)
5 years
5 years + 1 year opt.
40 days
07.13
04.13
04.13
USD 7,500
USD 7,500
USD 7,500
PetroVietnam, Myanmar AHTS “Sea Victor” (10,000 bhp)
AHTS “Jaya Confdence” (8,000 bhp)
supportng the jackup Trident 16
supportng the jackup Trident 16
04.13
04.13
RNR
RNR
Premier Oil, Indonesia AHTS “Parkit” (3,900 bhp)
DSV “Ullswater” (5,520 bhp)
8 months
30 days
05.13
06.13
RNR
RNR
Punj Lloyd, India AHTS “Albatross 01” (5,400 bhp) 1 month 05.13 RNR
Rawabi Swiber, Singapore AHTS “UM Superior” (5,220 bhp) 4 months USD 13,000
Saipem, China MPSV “Normand Baltc” (4,050 dwt) 03.13 RNR
Saipem, Saudi Arabia AHT “Britoil 49” (8,000 bhp) 6 months 06.13 RNR
Saipem, Malaysia AHTS “Hobart Trader” (8,000 bhp) 50 days 04.13 RNR
Santos, Australia PSV “Mermaid Leveque” (6,700 bhp) Abt. 1 month 05.13 RNR
Seadrill PSV “Highland Guide” (2,800 dwt) Supply dutes “West Auriga” 04.13 USD 18,000
Shell Sarawak, Malaysia AHTS “Sea Weasel” (6,800 bhp) 2 + 1 months 03.13 USD 10,000
Spex AHTS “Maersk Supplier” (18,250 bhp)
PSV “Greatship Dhrit” (3,330 dwt)
1 month
4 months
USD 19,000
USD 30,000
Teras, Singapore AHTS “Interspray” (5,150 bhp) 6 months USD 8,000
TLO, Malaysia AHT “Britoil 80” (8,160 bhp) 110 days 05.13 RNR
Total, Indonesia AHTS “Transko Andelas” (5,218 bhp)
AHTS “Transko Celebes” (5,218 bhp)
3 years
3 years
05.13
05.13
RNR
RNR

Page 11

Page 10 www.fearnleyofshoresupply.com
Charterer Vessel Period Del. Day Rate (Abt.)
Shell Global, West Africa PSV “Havila Borg” (3,787 dwt)
PSV “Ben Nevis” (4,097 dwt)
PSV NB “Garware TBN” (4,000 dwt)
Frontrunner PSV “Havila Fortune”
1 year frm + 4 yearly opt.
1 year + 4 x 1 year opt.
1 year + 4 x 1 year opt.
80 days frm +20 daily opt.
07.13
07.13
07.13
07.13
USD 28-30,000
USD 28-30,000
USD 28-30,000
USD 28-30,000
5.4 West/South/East Africa
5.3 Mediterranean/North Africa:
Charterer Vessel Period Del. Day Rate (Abt.)
BG, Tunisia AHTS “Maridive 229” (6,130 bhp) 6 months ext. 04.13 RNR
EDT/Maersk, Egypt AHTS “Havila Jupiter” (23,392 bhp) 30 days frm + 60 daily opt. 05.13 USD 65,000
ENI, Italy PSV “Vos Prudence” (3,300 dwt) 2-3 years + opt. 07.13 RNR
Gupco, Egypt AHTS “Vos Apollo” (5,150 bhp) 2 years 05.13 RNR
5.5 Americas:
Charterer Vessel Period Del. Day Rate (Abt.)
Anadarko, Brazil AHTS “UOS Liberty” (16,000 bhp)
AHTS “UOS Challenger” (16,000 bhp)
PSV “Seabulk Angra” (3,300 dwt)
90 days + opt.
90 days + opt.
5 months
06.13
06.13
06.13
RNR
RNR
RNR
Chevron, Canada PSV “Troms Capella” (4,800 dwt) 3-4 months 07.13 RNR
Marinsa, Mexico PSV “Stanford Condor” (1,350 dwt) 623 days 05.13 RNR
Noble Energy, Nicaragua AHTS “Maersk Topper” (15,300 bhp)
AHTS “Maersk Tracer” (15,300 bhp)
2 wells frm
2 wells frm
07.13
07.13
RNR
RNR
Petrobras, Brazil PSV “UP Diamante” (4,000 dwt)
PSV “UP Topazio” (4,193 dwt)
PSV “UP Agua Marinha” (4,000 dwt)
PSV “UP Esmeralda” (4,283 dwt)
PSV “UP Amber” (4,167 dwt)
PSV “UP Pearl” (4,200 dwt)
PSV “Havila Faith” (4,627 dwt)
PSV “Far Star” ( 4,403 dwt)
PSV “Siem Carrier” (4,679 dwt)
PSV NB “Starnav C-382” (4,500 dwt)
PSV NB “Starnav C-382” (4,500 dwt)
PSV NB “Starnav C-383” (4,500 dwt)
PSV NB “Starnav C-384” (4,500 dwt)
PSV “Far Strider” (4,700 dwt)
PSV “Far Supporter” (4,700 dwt)
AHTS “Everest” (5,150 bhp)
PSV “PFS Supplier” (3,100 dwt)
PSV “Robert H. Boh” (3,962 dwt)
PSV “Brasher Tide” (3,014 dwt)
PSV “Trounson Tide” (3,250 dwt)
PSV “Skandi Stolmen” (3,100 dwt)
4 years
4 + 4 years
4 years
4 + 4 years PSV 4500
4 + 4 years PSV 4500
4 + 4 years PSV 4500
4 + 4 years PSV 4500
4 + 4 years PSV 4500
4 + 4 years PSV 4500
8 years
8 years
8 years
8 years
4 + 4 years
3 years ext. + 2 months in 2013
4 + 4 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 years
08.13
08.13
08.13
08.13
08.13
08.13
01.15
01.15
01.15
01.15
08.13
05.13
10.13
06.14
06.13
06.13
06.13
10.13
USD 35,380
USD 35,380
USD Mid 30’s
USD 32,950
USD 32,950
USD 32,950
USD 34,995
USD 32,500
USD 34,580
USD 34,368
USD 34,368
USD 34,368
USD 34,368
NOK 154,100
USD 27,500
USD 21,700
RNR
RNR
RNR
RNR
USD 27,830

Page 12 www.fearnleyofshoresupply.com
Charterer Vessel Period Del. Day Rate (Abt.)
PSV “William E. Bright” (3,115 dwt)
PSV “Sam S. Allgood” (3,107 dwt)
PSV “Richard A. Philippi” (3,115 dwt)
PSV “Luanda Tide” (3,350 dwt)
PSV “De Vries Tide” (3,350 dwt)
PSV “Carline Tide” (3,000 dwt)
PSV “Collins Tide” (3,000 dwt)
PSV “Art Carlson” (4,070 dwt)
PSV “Pelafgue Tide” (3,032 dwt)
PSV “Davidson” Tide” (3,250 dwt)
PSV “FD Honorable” (3,250 dwt)
PSV “Varada Supplier” (3,300 wt)
PSV “Varada Supporter” (3,300 dwt)
PSV “World Diamond” (3,300 dwt)
PSV “World Emerald” (3,300 dwt)
PSV “World Pearl” (3,300 dwt)
PSV “World Peridot” (3,300 dwt)
PSV “Havila Princess” (3,500 dwt)
PSV “Normand Trym” (3,350 dwt)
PSV “Normand Vibran” (3,240 dwt)
PSV NB “CMM YX3188” (3,000 dwt)
PSV NB “Casco 1510” (3,000 dwt)
PSV “Vega Chaser” (1,340 dwt)
PSV “Vega Challenger” (1,340 dwt)
4 x PSV “Galaxia TBN”
PSV “Geonavegacao TBN”
4 x PSV “Oceanpact TBN”
4 x PSV “Astromaritma”
4 x PSV “Galaxia TBN”
2 x PSV “Geonavegacao”
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 years + 120 days ext. in 2013
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
4 + 4x1 years
8 Years PSV 4500
8 Years PSV 4500
8 Years OSRV 750
8 Years OSRV 750
8 Years OSRV 750
8 Years OSRV 750
10.13
06.14
06.13
06.14
06.14
06.14
06.14
06.14
06.13
06.14
06.14
06.14
06.14
06.14
06.14
06.14
06.14
08.13
10.13
10.13
06.14
06.14
10.13
10.13
04.16
04.16
04.16
04.16
04.16
04.16
USD 28,000
USD 28,000
USD 27,500
USD 27,500
USD 28,500
USD 29,000
USD 27,000
USD 27,000
USD 26,000
USD 27,750
USD 29,850
RNR
RNR
USD 29,900
USD 29,900
USD 29,900
USD 29,900
USD 29,950
USD 29,750
USD 29,750
USD 28,400
RNR
USD 22,500
USD 22,500
USD 34,480
USD 34,800
USD 30,100
USD 28,300
USD 28,880
USD 27,800
QGEP, Brazil PSV “Bruce Kay” (5,175 dwt)
AHTS “Bremona” (7,000 bhp)
AHTS “Reedbuck” (13,759 bhp)
60 days + opt.
60 days + opt.
90 days + opt.
RNR
RNR
RNR
Repsol, Brazil PSV “Campos Carrier” (4,798 dwt)
PSV “Campos Challenger” (4,826 bhp)
PSV “Santos Soluton” (4,820 dwt)
3 years
3 years
3 years
USD Mid 30’s
USD Mid 30’s
USD Mid 30’s

Page 13

Page 12 www.fearnleyofshoresupply.com
5.6 Subsea fxtures world wide
Charterer Vessel Period Del. Day Rate (Abt.)
Baker Hughes, India MPSV “Lewek Altair” (3,100 dwt) 3 years 04.13 RNR
BP, Gulf of Mexico Well “Q5000” (DP 3) 5 years RNR
BP, North Sea Well “Island Constructor” (18,754 bhp) 90-100 days ext in 2014 +
2015
06.13 RNR
Chevron, Thailand MSV “Bourbon Supporter” (5,264 bhp) 1 + 1 years 05.13 RNR
DeepOcean, the Nether-
lands
MSV “Deep Helder” (DP 2) 5 years - min 270 days each
years
05.14 RNR
Diavaz, Mexico MPSV “Atlantc Challenger” (3,372 dwt) 20 months ext. 04.13 RNR
Fugro, Australia MPSV “Havila Harmony” (5,000 dwt) 4 years ext. + 2x1 years opt. 04.13 RNR
Fugro, UK CON “Havila Phoenix” (17,379 bhp) 5 months ext. 06.13 RNR
Galoc, Philippines MPSV “Executve Valour” (3,700 dwt) 5 months 06.13 RNR
GeoSea, The Netherlands Jack-Up “MPI Resoluton” 6 months 06.13 RNR
Karoon, Brazil MPSV “Far Swif” (3,084 dwt) 60 days ext. 03.13 RNR
Marine Platorms, Nigeria MPSV “Siem Marlin” (4,214 dwt) 1 year ext. 04.13 USD 45,000
Micoperi, Ghana MPSV “Viking Forcados” (3,375 dwt) upto 45 days 05.13 RNR
Oceaneering Internatonal LCV “Normand Flower” (14,198 bhp) 3 years frm + 3 x 1 years opt 4Q.13 RNR
ONGC, India MSV “Jaya Pioneer” (6,000 bhp) 1 year 04.13 RNR
Oto Energy, Philippines MPSV “Executve Valour” (3,700 dwt) 1 + 1 well RNR
Pemex, Mexico Heavylif “Seven Borealis” (47,000 dwt) 3 months 3q.13 RNR
Petrobras, Brazil CLV “Siem Carrier” (6,688 bhp)
LAYSV “Seven Waves”
LAYSV “Kommandor 3000”
4 + 4 years
7 years
5 years
08.13
08.14
07.13
USD 34,580
RNR
USD 191,780
Punj Lloyd, India PSV “Jaya Pearl” (6,000 bhp) 30 days diving works 05.13 RNR
Reach Subsea, Norway MPSV “Bourbon Emerald” (4,200 dwt) 140 days frm + opt. 07.13 RNR
Ree, Spain CLV “Giulio Verne” (11,000 bhp) Long term, -115km of sub-
sea high voltage cable in up
to 750 msw.
01.15 RNR
Seabed Geophysics,
Angola
MSV “Seabed Prince” 150 days 05.13 RNR
Seabird, Caribbean Seismic “Geo Pacifc” (5,316 bhp) 85 days 04.13 USD 147,000
Seatrucks, Nigeria MPSV “Lewek Toucan” (4,000 dwt) upto 60 days 04.13 RNR
Siem Ofshore Contractors AHTS/ROV “Siem Garnet” 4 months frm + 1 month
opt.
04.13 RNR
Shell Philippines Explora-
ton
CLV NB “Boskalis Endeavour” (7,500 dwt) 12 months 01.14 RNR
Subsea 7, UK CON “Skandi Seven” (15,600 bhp) 1 year ext. 04.13 RNR
Undisclosed Charterer,
Asia
DSV “Skandi Singapore” (16,308 bhp)
CON/AHTS “Skandi Hercules” (35,000
bhp)
FPSO installaton/subsea
structure installaton and
IRM campaigns
RNR

Page 14 www.fearnleyofshoresupply.com
6.0 ON THE ROAD
Vessel photos taken by FOSAS colleagues on the road
PSV “Ocean Scout” UT 755LC Naming Ceremony in
Stavanger
AHTS “Pacifc 88” Naming Ceremony in Singapore
MPSV “Island Crown” in Oslo under Nor-Shipping where its
Naming Ceremony took place.
AHTS “Havila Jupiter” seen in Bergen getng ready for
departure to Egypt
From Fearnley Ofshore Supply’s party at Sams Boat during
OTC, Houston

Page 15

Page 14 www.fearnleyofshoresupply.com
7.0 UNCOVERED REQUIREMENTS
(North Sea/North Atlantc Rim)
BP, UK has issued a tender for one PSV commencing end
May to mid June 2013. The period is 6 months frm with
6 months opt.
Dana Petroleum, UK requires a PSV for the support of
“Ocean Nomad” for 2 + 2 years commencing mid July
2013.
Wintershall, Norway has a tender out for one PSV (600
m2 deck) and one Standby vessel, each contract for 2-4
years frm plus 4 x 1 year opton commencing September
2013.
For more details about
uncovered requirements worldwide,
please don’t hesitate to contact:
Fearnley Ofshore Supply AS, Oslo,
for Asia/Middle East/Australia:
Fearnley Ofshore Supply Pte. Ltd., Singapore
for US areas:
Fearnley Ofshore Supply, Houston
8.0 CORPORATE
BOURBON and ICBC Financial Leasing,
China have signed an operatng lease
Framework agreement for up to USD
1.5 billion corresponding to the sale and
bareboat charter back for 10 years of up
to 51 vessels. This is a part of Bourbon’s
“Transforming for Beyond” acton plan,
future growth plan beyond 2015.
Tidewater, Inc. has, through a wholly owned subsidiary,
purchased Troms Ofshore Supply AS from its owners
Hitech Vision. The purchase price is approximately USD
395 million. From what we understand this purchase
includes the following platorm supply vessels:
- Troms Pollux (VS485 CD/Built 2009)
- Troms Castor (VS485 CD/Built 2009)
- Troms Capella (STX 09CD/Built 2011)
- Troms Sirius (STX 09CD/Built 2012)
- Troms Lyra (STX 08CD/NB Delivery June 2013)
- Troms Arcturus (STX 07CD/NB Delivery 2014)
In additon Troms Ofshore manages the 2 x PSVs “Troms
Fjord” (VS470) and “Troms Artemis” (VS485CD),
1 AHTS and 4 other special purpose vessels.
Deep Sea Supply has entered into a
50/50% Joint Venture agreement with
BTG Pactual on 1st June 2013. Following
this, Deep Sea Supply will be the third
largest OSV company in Brazil with 21
units. There will be no operatonal change.

Page 16 www.fearnleyofshoresupply.com

Harvey Gulf is building frst LNG bunkering
facilites in America.It will be located at
Harvey’s vessel facility in Port Fouchon,
Louisiana. Harvey Gulf has currently six LNG
powered PSVs under constructon at Gulfport.
9.0 THE SALE & PURCHASE MARKET
Oto Marine, Singapore has sold MSV “Oto Explorer 3”
(built 2011 - 10,100 bhp, MT 6009L MKII design) to RY
Ofshore for USD 50 million. RY Ofshore will charter the
vessel back to Oto subsidiary Go Marine Group.
Rem Ofshore, Norway acquired a PSV of VS 485MKIII
design from Kleven Verf, Norway and has been named
“Rem Fortune”. The vessel was delivered at the end of
May and has already started on its 2 + 3 years charter
with ConocoPhillips.
An AHTS Newbuilding “Hull HT082X09” (7,300 bhp,
DP2 and FiFi 1) currently under constructon at GMG
Shipyard, China has been sold to Huawei Ofshore for
USD 22 million. The vessel was delivered from yard at the
end of May 2013.
Skansi Ofshore, the Faroe Islands has purchased a PSV
of Havyard 833 design from Havyard, Norway which
was delivered from yard in June 2013 and named
“Kongsborg”. The vessel is chartered to BG Norge Limited
for 1 + 1 years + 3 x 4 months opton. The vessel has 86.8
m loa, 19.6 m beam, 4,600 dwt, 1000 m2 deck area and
accommodaton for 27 persons.
AHTS “Red Sea Polk” (built 1983 - 6,140 bhp) has been
sold by Red Sea Marine, Egypt to CMI Ofshore Limited.

Page 17

Page 16 www.fearnleyofshoresupply.com
PSV “Lady Kari-Ann” (built 1983 - 2,970 dwt, ME 202
design) has been sold to Nigerian buyers at a price
believed to be approximately USD 2.5 million. Delivery
has taken place and the vessel has been renamed “Prime
Lady”.
TUG “Boa Njord” (built 2010 - 5,220 bhp, RAMPARTS
3200 design) has been sold and delivered to Kotug,
The Netherlands and renamed “SD Salvor”. The price is
reportedly approximately EUR 6 million. Kotug, has also
purchased “Titan” (built 2013), a similar tug as “Boa
Njord”, from Medmarine Shipyard, Turkey and the vessel
has been renamed “SD Sparta”.
ROV “Acergy Legend” (built 1985 - 9,200 bhp) has been
sold from Subsea 7 to Adesso of Nigeria for an undisclosed
price.
DDW Paxocean, Singapore has sold AHTS “Hull no TO202”
(9,000 bhp) to Marco Polo, Singapore for a price
reportedly around USD 16.5 million.
Newbuilding PSV ”Ocean Scout” (built 2013 - 3,300 dwt)
has been sold to Ocean Scout DIS and chartered back
to Atlantc Ofshore on bareboat basis for a period of
10 years. The price, including project cost, is NOK 226
million. The vessel delivered from Simek, Norway in May
2013.
DSV “Kingfsher” (Built 1989 - 4,350 bhp, Sat dive spread)
has been sold to Adessa Marine, Nigeria and renamed
“Adessa Ocean King”.
AHTS “SCI-05” (built 1984 - 5,400 bhp) has been sold from
Shipping Corporaton of India to undisclosed buyers. The
vessel was handed over to its new owners 8
th
April 2013.
PSV “VOS Prudence” (built 2013, 3,300 dwt) was sold
from Coastal to Vroon before it recently delivered
from Shipyard in May. The vessel will be moving to
Mediterranean where it will be operated by Vroon
Ofshore Services, Genoa.
AHTS “Captain Dinc”, ex “Med Sete”, “Portosalvo” (built
1982 - 12,270 bhp), has reportedly been sold for Scrap.
PSV “Dakotah Bill” (built 1984 - 1,000 dwt) has been sold
from Aries Marine to Combustbles Del Sureste, Mexico
and renamed “GB Balam”.
CON/ROV “Aquitaine Explorer” (built 1975 - 8,000
bhp) has been sold to Spanopoulos Group, Greece and

Page 18 www.fearnleyofshoresupply.com
renamed “Christos XXIII”.
AHTS “Jade” (built 1982 - 3,200 bhp) has reportedly been
sold to Netwar Marine Logistc by Samson Maritme for
an undisclosed price.
PSV NB “Daring Sentnel” (built 2013 - 3,300 dwt) has
been sold to Malaysian buyer. The vessel is expected to
be delivered from the yard in June 2013.
AHTS “Ajax” (built 1997 - 11,150 bhp) and AHTS “Achille”
(built 1994 - 10,880 bhp) have both been sold to Nigerian
buyers for an undisclosed price.
10.0 THE NEWBUILDING MARKET
Atlantc Ofshore, Norway has placed an order for a
Standby Vessel of Havyard 820 design at Zamakona
Shipyard, Spain. The contract price is reportedly EUR 25
million and delivery is scheduled for May 2015. Atlantc
Ofshore has a vessel of same design to be delivered from
same yard in 2014.
Bukser og Berging, Norway has ordered an ASD tug at
VARD Braila, Romania. The tug will have 42.5 m loa, 15
m beam and 115 tons Bollard Pull. Expected delivery
is Q1 2015 and the contract price is believed to be
approximately USD 17.5 million.
Finarge/Rimorchiatori Riunit, Italy has ordered an AHTS
of MossMar design at SPP Shipyard in Korea + one opton.
The vessel will have 21,760 bhp and 220 tons Bollard Pull.
Delivery is scheduled for end 2014 and the contract price
is reportedly USD 60 million.
Hornbeck, USA has ordered additonal two MPSVs
HOSMAX-310 Jones Act at Eastern Shipbuilding with
expected delivery in 2016.
Island Ofshore, Norway has placed an order for a PSV
at Vard Brevik, Norway with delivery during third quarter
2014.

Page 19

Page 18 www.fearnleyofshoresupply.com
Harvey Gulf, USA has ordered two Constructon Vessels
of STXCS 340 design at Eastern Shipbuilding USA with
deliveries in 2015. The vessels will have 103.6 m loa, 22.2
m beam, DP2, 250 ts crane and accommodaton for 120
persons. The vessels will be named “Harvey Blue-Sea”
and “Harvey Sub-Sea”.
Kreuz Subsea Marine, Singapore has revealed more
informaton about their new Diving Support Vessel. The
120 x 25 meters vessel will be of MT6024 design with
18 men double sat dive system for operatons down to
300 meters. The vessel will be built at China Merchants
Heavy Industry (Shenzhen) and delivered during second
quarter 2015. The contract price is reportedly about USD
115 million.
Kuma Shipping, Hong Kong has placed an order for 2 x
PSV of ULSTEIN P128 design from a Chinese Shipyard.
The vessels will have 3,000 dwt, 71.5 m loa and will be
delivered in 2014.
Marine Bulk Carriers, South Africa has placed an order
at Guangxin Shipbuilding, China for an AHTS with 12,000
bhp and 78 m Loa. The vessel is scheduled for delivery in
2015 and the contract price is reportedly approximately
USD 30 million.
Marine Platorms, Nigeria has placed an order with
Havyard Group for a IMR Subsea vessel of Havyard 857
design. The vessel will be 113 m loa, 22 m beam, 1200
deck area, 250ts crane and accommodaton for 120
persons. The contract price is approximately NOK 600
million and the vessel is scheduled for delivery in August
2014.
MK Marine, Singapore has ordered 4 x 78 meters PSVs
from Xiamen Shipbuilding, China.
Nam Cheong, SIngapore has placed an order for 4 x 78
meters PSVs plus 2 x 75 meters PSVs from Xiamen, China.
Oto Marine, Singapore has ordered 2 x AHTS with 5,150
bhp from its PT Batamec shipyard in Indonesia. The
contract price is USD 27.8 million for the two vessels and
deliveries will take place in 2014.
Seajacks Internatonal, UK has placed an order for a
wind farm installaton vessel of GUSTO MSC NG14000X
design at Samsung Heavy Industries, Korea. The vessel
will be able to work in water depths down to 65 meters,
be equipped with a 1,500 tons crane and will have a
working deck area of 5,000 m2. Seajacks has optons for
the additonal two units.

Page 20 www.fearnleyofshoresupply.com
SeaMar Subsea, the Netherlands has ordered a MSV
from De Hoop, the Netherlands. The vessel will be 64.8
m loa, 5.77 m beam, DP 2 and accommodaton for 52
persons. Delivery of the vessel is scheduled to Q4 2014.
Sentnel Marine, Singapore has ordered 4 x Field
Support Vessels at Nam Cheong, Singapore with opton
for additonal four vessels. The vessels will be designed
to work in the North Sea and are due to deliver during
second half of 2014. The vessels will be built to ABS class,
with 61 m loa, 15 m beam, DP 1 – opton for DP and 1,400
DWT. They will be named; “Cromarty Sentnel”, “Fastnet
Sentnel”, “Lundy Sentnel” and Fortes Sentnel”.
Siem Ofshore, Norway has placed an order for a CLV of
VARD CLV01 design at Remontowa, Poland. The vessel
will have 92.5 m loa, 21.5 m beam, cable payload of 4,250
tons and accommodaton for 60 persons. The contract
price is USD 85 million and delivery is scheduled for April
2015.

Simon Møkster Shipping, Norway has placed an order
for a PSV LNG Vessel of VARD PSV-06 LNG design at VARD
Aukra, Norway with delivery during 1st quarter 2015.
The vessel will have 94 m loa, 20 m beam, 900m2 deck
area, DP 2, NOFO and ICE-C class. The vessel has been
awarded a 10 years contract from ENI and will operate in
the Barents.
Subsea 7, UK has signed a contract with Hyundai Heavy
Industries, Korea to build a heavy constructon vessel.
The newbuilding will be of VS 4285 design, have 2,600m²
deck area, DP3, 600 tons AHC crane, 325 tons top tension
vertcal lay system and a 7,000 tons under-deck basket
for storage of fexible pipes, umbilicals and cables.

Page 21

Page 20 www.fearnleyofshoresupply.com
Tidewater, USA has placed an order for 2 x PSVs at Leevac
Shipyard, USA. The vessels will be of LDS 300DE design
with DP 2 and 5,400 dwt. Deliveries are set to take place
within 2015.
Wintermar Ofshore Marine, Indonesia has placed an
order for 2 x AHTS vessels at Yuexin Ocean Engineering,
China with opton for two similar vessels. The vessels will
be have 65 m loa, DP2 and 80 tons Bollard Pull. The price
is believed to be USD 12.5 million per vessel.
Cotemar, Mexico has placed an order for 4 Crew Boats
41 m x 7.3 m at Grandweld Shipyard, UAE at a price of
approximately USD 5 million each.
AHTS, PSV AND SUBSEA VESSELS
CURRENTLY UNDER CONSTRUCTION WORLD WIDE
Newbuild AHTS worldwide
BHP 2013 2014 2015 2016 Total
<8k 50 27 0 0 77
8k-12k 20 9 0 0 29
12k-16k 14 9 5 0 28
+16k 21 15 1 0 37
Total 105 60 6 0 171
Newbuild PSV worldwide
DWT 2013 2014 2015 2016 Total
<1.5k 7 0 0 0 7
1.5-2k 7 5 7 0 19
2-3.5k 52 38 3 0 93
3.5-5k 63 74 31 1 169
+5k 34 42 6 0 82
Total 163 159 47 1 370
Newbuild SUBSEA VESSELS worldwide
TYPE 2013 2014 2015 2016 Total
CLV 1 2 0 0 3
CON 5 16 6 1 28
DSV 5 0 2 0 7
Heavylif/
Pipelay 4 5 1 0 10
LAYSV 2 8 1 0 11
LCV 3 4 2 1 10
MPSV 6 10 2 2 20
MSV 8 13 2 0 23
ROV 0 1 0 0 1
Total 34 59 16 4 113

Page 22 www.fearnleyofshoresupply.com
12.0 IN THE WAKE
An engineer dies and reports to the Pearly Gates.
Saint Peter checks his dossier and, not seeing his
name there, accidentally sends him to Hell.

It doesn’t take long before the engineer becomes
rather dissatsfed with the level of comfort in Hell.
He soon begins to design and build improvements.
Shortly thereafer, Hell has air conditoning, fush
toilets and escalators. Needless to say, the engineer is
a prety popular guy.

One day, God calls Satan and says, “So … how are
things in Hell?”

Satan replies, “Hey, things are going great! We’ve got
air conditoning, fush toilets, and escalators. And
there’s no telling what this engineer is going to come
up with next.”

“What?!” God exclaims. “You’ve got an engineer?
That’s a mistake. He should never have been sent to
Hell. Send him to me.”

“Not a chance,” Satan replies. “I like having an
engineer on the staf, and I’m keeping him!”

God is persistent and insists, “Send him back or I’ll
sue.”

“Hah!” Satan answers. “And where are you going to
fnd a lawyer? “
A man is fying in a balloon, but he is lost. He drops
down to a height of 30 feet and shouts down to a
man standing in a feld. 'excuse me, can you tell me
where I am?'
The man replies: 'you are in a baloon'
'You must be a shipbroker' says the baloonist.
'How do you know ?' asks the man.
'Because the informatons you supplied is factually
correct, but
efectvely completely useless.' says the baloonist.
'Well, you must be a shipowner', says the broker
'How do you know that ?' the baloon man asks. '
'Because' says the shipbroker, 'you got yourself
completely lost and all of a sudden
it's my fault '

Page 23

Page 22 www.fearnleyofshoresupply.com
13.0 COMPANY INFO
Oslo ofce:
Tor A. Widing
Frederik Colban-Andersen
Erik C. Askvig
Harald F. Askvig
Espen Boger
Sigrid Ramuz Bomann-Larsen
Peter Dyring
Anders Engeset
Anders C. Hagen
Nina Johannessen
Kristan Kjølhamar
Nina Skeie
Johnny Smaavik
Fredrik Stang-Lund
Sonja Østensjø
Houston ofce:
Tom Fairclough
Singapore ofce:
Harald P. Løvik
Alexis Chow
Øyvind S. Hansen
Jonathan Norfolk
Andrew Tang
Direct Lines:
+47 22 93 63 21
+47 22 93 63 24
+47 22 93 61 26
+47 22 93 61 22
+47 22 93 63 22
+47 22 93 63 27
+47 22 93 63 20
+47 22 93 64 32
+47 22 93 63 28
+47 22 93 63 26
+47 22 93 63 19
+47 22 93 63 23
+47 22 93 63 25
+47 22 93 64 29
+47 22 93 64 25


Direct Lines:
+1 713 629 7072
Direct Lines:
+65 (6305) 0461
+65 (6305) 0974
+65 (6305) 0475
+65 (6305) 0465
+65 (6305) 0470
Mobile:
+47 90 16 10 79
+47 91 82 28 04
+47 93 21 39 03
+47 92 20 35 51
+47 91 84 27 40
+47 95 14 68 49
+47 90 16 10 81
+47 48 05 20 00
+47 91 80 07 61
+47 92 45 02 49
+47 97 02 36 81
+47 97 54 13 21
+47 90 16 10 89
+47 90 11 64 46
+47 90 78 19 49

Mobile:
+1 713 289 4710
Mobile:
+65 (96) 20 7878
-
+65 8228 9443
+65 (91) 73 0303
+65 972 66 632
E-mail:
taw@fearnleys.no
fca@fearnleys.no
eas@fearnleys.no
has@fearnleys.no
eb@fearnleys.no
srbl@fearnleys.no
pd@fearnleys.no
aen@fearnleys.no
ach@fearnleys.no
njo@fearnleys.no
kkj@fearnleys.no
ns@fearnleys.no
js@fearnleys.no
fsl@fearnleys.no
sos@fearnleys.no
E-mail:
t@fearnleys.no
E-mail:
hpl@fearnleys.sg
alc@fearnleys.sg
osh@fearnleys.sg
jno@fearnleys.sg
ata@fearnleys.sg

24 hour service: +47 22 93 64 00
Please note our new email addresses!
www.fearnleyofshoresupply.com
Fearnley Ofshore L.L.C.
One Riverway, Suite 1810
Houston, Texas 77056
Phone: +1 713 629 7072
Fax: +1 713 629 7073
supply.ofshore@fearnleys.no
Fearnley Ofshore Supply Pte. Ltd.
Winsland House I
3 Killiney Road, #04-06/07
Singapore 239519
Phone: +65 6305 0461
Fax: +65 6736 1714
supply@fearnleys.com.sg
Fearnley Ofshore Supply AS
P.O.Box 1158 Sentrum
N-0107 Oslo, Norway
Phone: +47 22 93 64 00
Fax: +47 22 93 63 01
supply.ofshore@fearnleys.no