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Msg  3114 of 7137  at  11/19/2008 7:02:29 PM  by


Not much happening these days

Not much happening these days concerning Deep Sea. Hemen extended its TRS but that is a deal between Hemen and a third party and should not affect Deep Sea in any way. The spot market in the North Sea is very slow now. After the best period ever we now see a lot of ships idle in Aberdeen. Sea Tiger was idle for 10 days but got a rig move today. 25000 is not much compared to the 160000 rate it had for the first 8 days of the month but its better than nothing. Sea Tiger also tuned its DP during the break so something good came from it. Sea Lion is still without charter. I see from the Fearnleypage that they have chartered one of the Deep Sea ships from the 25th to move a FPSO. This might take a longer time than a regular rig move. Im don`t think Sea Tiger will be ready before the 25th so I guess Sea Lion will take this job. We might see some carrier runs to fill in the time. At the moment they pay almost the same as a rig move so it should be ok. The weather is rough in the North Sea so a lot of rigs is waiting to move. When it calms down it should be more work. Last month they moved the rigs in tough weather and that resulted in delays and a high demand for tugs. This resulting in the high prices. The oil companies seem to be more disiplined this time.

Sea Panther is out of the yard. It`s charter should start around christmas, but it was a possibility it could start earlier. It has been removed from the spot lists so I believe it`s on its way to the Mediterranien. Panther is going to Egypt to pick up a rig and tow it just outside the straits of Gibraltar. There it will be with the rig for two wells. This will take 200 days. I have a hope that the charter starts as planned and that it is Panther that will move the FPSO, but since I can`t find it in any of the ports I don`t think this is likely.

Sea Lynx is laying pipe outside Morocco. Should be finished in February/March. It will probably do its 10 year classification after that. Depending if they want it on a charter or in the spot market.

Sea Wolf should finish its charter at about the same time. Also needs a 10 year classification.

The last ship that needs a classification this year is Sea Cougar. It is on a charter until early 2010. If it`s possible I think they will postpone the classification until the charter is finished. I`m not sure if they are allowed to do this, but this ex Bourbon ship was in a much better state than the ex Tidewater ships so maybe they can postpone it. This ship already has DP2 so no need to install that. If the charterer wants to use the option they just have to take a break in the charter to do the 10 year Classification.

Looking at the ship list I think I will sell my stocks in the autumn of 2016 since all the ships will have either 10 or 20 year classification in the next two years. :-)

Sea Ocelot should have finished it`s charter now. I`m a little uncertain about the dates here. DSS had a short term charter waiting for this ship. Seadrill had chartered it to move a rig at a dayrate of 39000$ a day. Very good rate for a 10800BHP. DSS are working for a long time charter for this ship. Hope we get a pleasant surprise soon.

No news of what company they have bought stocks in.

I`ll add some links for those of you that are interested in the North Sea supply market.
Press spot to see latest fixtures and available jobs
Press spot list or recent fixtures
A list of vessels in Aberdeen Harbour
A webpage showing the traffic around Aberdeen harbour. Some delay for security reasons.

Some of these pages are for those that are really interested and don`t give much investment information. Use them if you like.

If anyone has any links to other areas of the world I would like to know. I am especially looking for a spot page to the GOM and the Asian areas.


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Msg # Subject Author Recs Date Posted
3116 Re: Not much happening these days scotchman 0 11/19/2008 10:16:02 PM

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