SeaHold GEOSHIPS Ltd, a marine and subsea services shipping company, has taken delivery of its second multi-purpose support vessel (MPSV) on a contract valued at over £30 million, following a successful year for its current vessel, the Stril Explorer.
Formed in 2003, Aberdeen-based GEOSHIPS will manage and crew the MPSV Loch Roag vessel, which it has taken on a five year bareboat charter basis from Otto Marine Ltd. The contract is valued at around £22 million over five years, with an option to extend the contract for two more years, bringing the potential value of the contract to nearly £33 million.
As part of the bareboat charter for Loch Roag, GEOSHIPS also has the option to buy the vessel at various stages during the agreement. It is a Norwegian design vessel, built by Otto Marine Ltd in the Indonesian Shipyard, Batamec, and is suitable for work in a variety of areas, including the North Sea, Mediterranean, West Africa and Asia Pacific.
GEOSHIPS’ in-house vessel crewing and management department, (previously known as Brooklyn Shipping Limited), will operate and manage the vessel, giving a higher level of control over each project. This department will also crew all future vessels GEOSHIPS adds to its fleet.
The vessel should arrive into the North Sea towards the end of this month, as this is the region where several jobs have been tendered for it. It is likely the vessel will be used extensively for inspection, repair and maintenance (IRM) activities using a work class ROV and eyeball ROV, depending on the work scope.
Taking charge of this vessel follows on from GEOSHIPS securing a 36-month contract in March 2011 to offer the multi-purpose offshore vessel, the Stril Explorer, to the market.
GEOSHIPS formed a three-year agreement with Hallin Marine UK Ltd and NCS Survey to offer ROV and survey services as part of the Stril vessel package. Built for diving and ROV work, the Stril Explorer has achieved a high level of utilisation in the past year and has completed a wide scope of work for the oil and gas and offshore renewables sector.
Most recently GEOSHIPS has contracted the Stril Explorer for remedial works within the North Sea oil and gas market as well as survey and geotechnical activities. The previous charters included working with Hallin Marine on a North Sea IRM project and with Canyon Offshore on a project in the offshore renewables market, with its ROVDrill spread. GEOSHIPS has also secured work for later in the year for further ROV and geotechnical investigations in the North Sea.
Kenny Macleod, chairman, SeaHold GEOSHIPS, said: “This has been a busy year for the company so far and we are delighted at the extent and scope of work our first vessel, the Stril Explorer, has accomplished. The recent work scope for the Stril with Hallin has further improved our partnership with the subsea solutions provider.
“The level of repeat business we have received from clients is also encouraging and is testament to the quality of work carried out by the vessel. Taking charter of Loch Roag has reinforced the firm’s continued commitment to provide a growing fleet of quality new vessels to the oil and gas and renewables sectors. The vessel also lends itself well to geotechnical investigation activities in line with some of our current activities with the Stril Explorer.”
Loch Roag can accommodate 66 people in one and two man berths. It measures 80 metres, has a deck space of approximately 510 square metres and the dead weight is 3000 tonne.
In Q1 2013 GEOSHIPS will expand its fleet further, with a new multi purpose offshore vessel of a Vik & Sandvik VS470 design. It is certified to carry 60 people and has an overall length of 76 metres.
Source: Seahold Geoships, April 17, 2012