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Capital Offshore orders up to eight PSVs in China

2024-06-24
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China’s Fujian Mawei shipyard has landed a contract with a Greek owner for the construction of up to eight platform supply vessels.

The yard did not disclose the owner, but industry sources suggest Evangelos Marinakis-backed newcomer Capital Offshore has made its first newbuilding move since entering the booming sector late last year with the acquisition of six ships from Norwegian PSV outfit Standard Supply.

The order covers four firm 94.7-m-long eco-PSVs classed by Lloyd’s Register, plus two options for an additional pair each. Price and delivery dates have not been disclosed.

Mawei Shipyard delivered a number of OSVs before and slightly after the oil and gas sector depression some 10 years ago, after which orders for offshore vessels significantly slackened. The yard currently has one OSV on its books for Norwegian-registered Hercules Supply, with scheduled delivery in the fourth quarter of 2025 and options for two further ships.

Renewed momentum in the offshore market since last year has seen increased utilisation rates across the board, but apart from wind support vessels and AHTS units, there has been little appetite for newbuildings due to high prices and difficulties in securing financing.

Several North Sea-focused owners have opted for upgrades and retrofits to bolster their green agenda and extend the operational lifespan of their vessels, with only a handful, such as Rem and Eidesvik, making CSV newbuild headlines. Nevertheless, although not significant, market sources indicate that OSV orders will gradually increase, with several large PSV orders in the next months. Brazil’s Petrobras, for one, has revealed its appetite for newbuild tonnage as part of its long-term plans, of which at least 12 platform suppliers.

Source:Splash247.com