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February 2012

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Fizzing February A month for raising a glass... or should the champagne be put on ice ???

SEABREEZE JANUARY 2012

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Contents: Market Round-Up 2,4 Feature Vessel 3 Daily Availability -Rates & Utilisation North Sea 5 Newbuildings, Conver- sions, Sale & Purchase 6-8 Rig FPSO, Field and Oil company news. 9-10 Conundrum Corner, 11 Duty Phones Monthly Rates 12 The Seabreeze Monthly Market Report is distributed worldwide through our offices in Aberdeen, Stavanger, Singapore and Rio de Janeiro. Production and Administration: Seabrokers Ltd, Aberdeen For your free copy of Seabreeze, email: chartering@seabrokers.co.uk

Seabrokers Group Forusbeen 78 4033 Stavanger Norway

February was generally a buoyant month for both ship owners and charterers. Although both PSV and anchor handler north sea spot rates were pretty much flat compared to last month, these rates were still up on the same period last year. The market was also fizzing with the help of various term tenders - for example Statoil in particular has very recently issued a 3 or 6 year firm PSV requirement (with options to extend to 9 years!). Activity levels are also benefiting from the high oil price which continued to bubble its way upwards this month, helping charte-rers to raise a smile and perhaps a glass. Champagne was also flowing at more vessel christenings again this month—currently the supply of vessels is just about meeting the demand but there are still a lot of vessels delivering this year so it will be interesting to see whether the scales will tip again la-ter this year...

The Havila Fortune 3,250 dwt PSV has been fixed to E.On Ruhrgas to support the jackup ENSCO 100 on a programme lasting two wells firm plus a one well option. The 2009 built vessel managed by Havila Ship-ping will commence the contract next month and will be trading the North Sea spot market in the meantime.

Seabrokers Group was established in 1982. We work in the areas of shipbroking, development and facility management of property, radar based sea tracking, man-free decks and Entrepreneur Services. Our head office is situated in Stavanger, but we also have offices in Bergen, Aberdeen, Rio de Janeiro and Singapore. Please visit www.seabrokers-group.com for more information.

Statoil has fixed the KL Brofjord 5,100 dwt PSV and the Esvagt Connector 6,436 bhp AHTS to support the semi COSLPioneer on a one well programme lasting approximately 130 days. The 2011 built KL Brofjord has been contracted to provide supply duties for Statoil off the Faroes from the 1st March, while the 2000 built Esvagt Connector will carry out standby duties from the end of March 2012.

Havila Fortune fixes to E.On Ruhrgas

February Fizz

Statoil fix two..

Stril Orion runs a Marathon The Stril Orion 4900 dwt PSV has been fixed on a two wells firm plus options charter to support the semi Transocean Winner offshore Norway. The 2011 built Mokster Shipping managed vessel started its new con-tract with Marathon in direct continuation of its existing charter. The STX PSV 09 CD design vessel has worked for Maersk Oil since its delivery in October and is expected to be fixed with Marathon until July 2012.

Noreco fix Edda Freya Noreco has fixed the Edda Freya 3,493 dwt PSV on a one well firm charter plus 14 daily options to support the jackup Maersk Resolve off Denmark. The 1991 built Oestensjoe vessel has a 45 day term charter already fixed with Allseas for construction support from April onwards.

Departures - North Sea Spot

Toisa Daring Colombia

Toisa Defiant Colombia

Subadhra Caspian

Suchandra Caspian

Arrivals - North Sea Spot

Island Captain Ex Yard

Ocean Pride Ex Yard

DEPARTURES & ARRIVALS — Feb

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Laid Up - North Sea

Clywd Supporter Sunderland

North Truck Sunderland (March reactiva-tion)

Ocean Mainport

Northern Crusader Leith

DESIGN FEATURE: PAGE 3 STUNNA

Island Offshore took delivery of it’s newest member of the fleet, the MV Island Captain on Thurs-day 16th February. The vessel is number 6 in the se-ries of UT 776CD design vessels that Island Offshore have built at STX OSV Brevik. Island Captain will commence a 7 year firm contract plus 4 yearly options with Schlumberger, work-ing as a well stimulation vessel starting in August 2013. Conver-sion of the vessel will commence in November 2012. Vessel Specification:- LOA:- 93m Width:- 20m DW:- 4000t Deck Area:- 1000m2 Accommodation:-39 personnel

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Page 3 Stunna...

Island Captain

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MARKET ROUNDUP

The Bremen Fighter 8,100 bhp AHT has been fixed on a 100 day construction support charter with Seaway Heavy Lifting due to commence in June. In the meantime the 2005 built vessel which was bought by Urag from Harms Bergung at the end of last year will continue to trade the North Sea Spot market.

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Bremen Fighter punches through

SPD has fixed the UT745 Malaviya Seven on a three well charter lasting around 120 days. The charterer also has two one well options available on the 4,587 dwt Great Offshore PSV. The 1994 built Malaviya Seven is due to com-mence the contract with SPD at the start on March once the vessel’s current charter with Nexen ends.

VOS Prominence supports ENSCO 80

The VOS Prominence has been fixed on a 60 day contract with Senergy. The 3,600 dwt PSV will be supporting the semi ENSCO 80 in the North Sea. Owned and managed by Vroon the 2007 built vessel is currently trading the spot market from Aberdeen and will continue to do so until the Senergy charter com-mences mid March.

FD Indomitable has been fixed to TAQA on a supply duties contract lasting sev-en months firm plus two monthly options. The 2011 built, UT755L Gulf Offshore managed PSV has already begun the contract based in the North Sea. The FD Indomitable has previously worked for Taqa on a 6 month charter last year.

TAQA fixes FD Indomitable

Malaviya 7 fixed to SPD

Saipem take three Harms Bergung vessels

The Taurus AHT pictured here has been fixed on a four month term charter with Saipem to carry out towage work in the North Sea. The 19,000 bhp vessel built in 2007 is currently in dry dock and is due to commence the Saipem contract at the end of February. Three other Harms Bergung AHTs are also expected to be fixed on term charters with Saipem for work throughout the 2nd and 3rd quarters of 2012 though details are still be confirmed. The 8,078 bhp Centaurus and sister vessel Pegasus (both currently trading the spot market from Rotterdam) will be working on projects in the North Sea. The 19,000 bhp Magnus will be carrying out towage and support work in the Mediterranean.

More contracts for Farstad

Farstad Shipping has been awarded the following charter contracts:- Statoil has declared their option to extend the contracts for UT 751E 4,905 dwt PSV Far Seeker and UT 751E PSV Far Searcher 4,992 dwt for a period of 12 months. Woodside in Australia has chartered UT 722 AHTS Far Grip for a period of 9 months with commencement due for early March. In Brazil, Petrobras has extended the contract for the 2009 built UT 731 CD AHTS Far Sagaris until the end of October 2012.

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DAILY AVAILABILITY - RATES & UTILISATION NORTH SEA

Category Average Rate Feb 2012

Average Rate Feb 2011

% Change

All Cargo Runs £8,624 £5,814 + 48.3 %

Cargo Runs PSV’s up to 800M2

£7,804 £5,412 +44.2 %

Cargo Runs PSV’s over 800M2

£9,786 £6,396 +53 %

CNS/NNS/WoS Rig Moves

£16,448 £10,187 +61.5 %

Category Minimum

Maximum

All Cargo Runs £6,200 £17,000

Cargo Runs PSV’s up to 800M2

£6,200 £12,000

Cargo Runs PSV’s over 800M2

£6,350 £17,000

Rig Moves Excluding Southern Sector

£7,500 £35,000

Type Jan 2012 Dec 2011 Nov 2011 Oct 2011 Sept 2011 Feb 2012

Med PSV 75% 71% 83% 87% 80% 68%

Large PSV 88% 83% 79% 77% 86% 88%

Med AHTS 74% 63% 57% 73% 74% 55%

Large AHTS 70% 81% 46% 87% 85% 65%

RATES & UTILISATION

North Sea Spot Average Utilisation Feb 2012

North Sea Day Rate Levels - Spot Market Feb 2012 North Sea Average Rates Feb 2012

North Sea Vessel Utilisation

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0

2

4

6

8

10

12

14

16

18

20

22

24

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

FebruaryPSV 2012 PSV 2011

AHTS 2012 AHTS 2011

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NEWBUILDINGS, CONVERSIONS, SALE & PURCHASE

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The Toisa Daring and the Toisa Defiant have both departed the North Sea and are on their way to Colombia. The 12,000 BHP Sealion AHTS vessels of VS 4612 design have been fixed on term charters with an undisclosed client in South America and the charter is expected to last until the end of 2012. Built in 2006 and 2007 respectively the Toisa Daring and Toisa Defiant are due to arrive in Colombia in mid March and will commence their new contracts soon after arrival.

Rem Supporter delivered The newbuild Rem Supporter has been delivered to owner Rem Offshore by the STX Langsten shipyard. The 5,300 dwt STX PSV 06CD design vessel is now carry-ing out work for E.On Ruhrgas on the North Sea spot market. Spec Details:- Length Overall: 94.2m Length between pp: 84.9m Breadth moulded: 20m Depth main deck: 8.3m Deck area: 1075m2 Main propulsion: 2 x 2500 kW Azipull 100 FP, Rolls Royce

Ocean Pride proudly delivered The Ocean Pride was delivered to Atlantic Offshore on the 2nd February. Seabrokers were honoured to attend the naming ceremony in Bergen on the 4th February. The 4,200 dwt PSV of Havyard 832L design is now available for charter from Aberdeen and she will trade on the spot market until early April when she will commence a 45 day pipehaul con-tract for Allseas.

Daring and Defiant head South

ABG Shipyard to build 6 offshore support vessels

Indian shipbuilder ABG Shipyard has won an order from the Shipping Corporation of India (SCI) to build six offshore support vessels. The 80 ton bollard pull AHTS will be 63m in length and will be equipped with twin screw diesel en-gines. Deliveries of the vessels will be at two month intervals from the 15th to 25th months from the date of signing the contract. In addition to normal AHTS operations they will also serve as emergency rescue and recovery vessels.

Bergen Group Fosen building for Volstad Maritime

Bergen Group Fosen has signed a contract with Volstad Maritime to build what it describes as a large high end offshore vessel. The contract has an estimated value in excess of NKr 800 million and the ship is scheduled for delivery in the third quarter of 2013. The contract is for construction of an OCV with a length of 125m and a beam of 25m. Alesund based Skipsteknisk has designed the ST-259 CD design vessel.

Craig Group to invest £50m

Aberdeen firm Craig Group is to invest £50m in new vessels after securing a major contract with Canadian company Talisman Energy. Craig Group division North Star Shipping will build two new platform supply vessels to support Talisman’s North Sea operations. The Aberdeen based firm said the five year contract would create 50 new jobs. The vessels will be built at the Balenciaga Shipyard in Northern Spain and are due for delivery in 2013. Craig Group said the deal would increase the size of it’s fleet to 37 and reinforce it’s position as the largest wholly UK owned offshore support fleet.

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Vessel Type/Design Owner / Manager Commitment

REM Supporter STX PSV06CD REM Offshore EonRuhrgas

Ocean Pride PSV06CD Atlantic Offshore North Sea Spot

Greatship Vimla AHTSV GGOS TBA

Stril Polar STX 09 LCD Mokster Shipping North Sea Spot

Caballo Genitor PSV Oceanografia SA DE CV

TBA

Island Captain UT 776 CD Island Offshore Spot / Schlum-berger

World Wide Supply (WWS) have ordered another two newbuild PSVs at the Damen Shipyard in Romania. This brings the total ordered for the Norwegian company to six vessels on order at Damen. The two extra vessels are scheduled for delivery by the end of 2013 with the previous four delivering earlier that year. The vessels will be of Damen’s PSV 3,300 CD design. They will be 80.1 m in length with a deck area of 735 m2 and have a deadweight of 3,300 tonnes. WWS is a new company formed by Norwegian and international shipping investors. Norway based Remoey Management will operate the vessels.

NEWBUILDINGS, CONVERSIONS, SALE & PURCHASE

NEWBUILDS (PREDOMINANTLY EUROPEAN)

WWS order another two PSVs

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Mokster Shipping has taken delivery of the Stril Polar from STX Soviknes ship-yard. The 4,900 dwt PSV of STX09LCD design is now available for charter on the North Sea spot market. She will commence a 30 day firm, plus options contract for MLS at the beginning of March supporting the semi Transocean Barents.

Greatship Vimla delivered

Greatship Global Offshore Services (GGOS) a Singapore incorporated subsidi-ary of Greatship (India), which is a subsidiary of The Great Eastern Shipping Company, has taken delivery of Greatship Vimla. The 150t bollard pull, 9000 kW AHTSV has been built in Drydocks World-Singapore, is Class II DP equipped with Fire Fighting Capability. With the delivery of Greatship Vimla GIL and it’s subsidiaries currently own and operate four PSVs, nine AHTSVs, three MPSSVs, three ROVSVs and two jack up rigs. GIL and it’s subsidiaries also have an order book of three ROVSVs in Sri Lanka and one 350 feet jack up rig in Dubai.

Stril Polar in the North Sea

Caballo Genitor delivered

The Caballo Genitor has been delivered to owner Ocean-ografia SA DE CV by Shipyard De Hoop in the Nether-lands. The 2,450 dwt PSV is expected to mobilise for Mexico and she is currently uncommitted upon arrival.

Havyard Sells another PSV

Havyard Group AS has sold a Havyard 832 design PSV to Vestland Offshore with an option for one further deliv-ery. The first vessel is of Havyard 832L design whereas the optional ship is of a Havyard 833 design. Both ves-sels are scheduled to be constructed at Havyard Ship Technology (HST) at the Leirvik shipyard in Sogn, Nor-way. Delivery is scheduled for Q4 2012. Acting General Manager of Vestland Management, Per Vidar Hille is de-lighted with the major new contract signed with Havyard Group AS.

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NEWBUILDINGS, CONVERSIONS, SALE & PURCHASE

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The first steel has now been cut by S Korean based Daewoo for the Pieter Schelte - the 382 m long, 117 m wide dynami-cally positioned platform installation / decommissioning and pipelay vessel. She will be equipped with eight diesel generators which will provide 95 mw of power to 12 azimuth-mounted thrusters for all operational needs. This ship was uniquely designed with the ability to deconstruct offshore oil production structures, particularly those found in the North Sea, as well as for high capacity pipelay operations. On the bow of the Pieter Schelte is a unique system that allows her to latch on to a topsides structure and conduct a 48,000 ton maximum lift to separate

this structure from the supports below that reach down to the sea floor. Once the topsides removal is complete, the ship will then turn 180 degrees and a powerful array of high capacity cantilever cranes will lift the steel “jacket” truss off the bottom and lay it flat on the aft deck. This system will have the capacity to lift even the largest steel structures in the North Sea, the location of her primary mission once commis-sioned in 2013. As a dynamically-positioned pipelay vessel, the Pieter Schelte will have a 2,000 tonne tension ca-pacity, twice that of Allseas’ Solitaire, the current world record holder for pipelay capacity. She will have the capacity to lay concrete-coated steel trunklines nearly 6 feet in diameter from her stern.

Pieter Schelte—world’s largest pipelay vessel

Polar Icebreaker project announced

The Canadian Government named the firm that will design the Canadian Coast Guard’s future flagship, the Polar Icebreaker, CCGS John G. Diefenbaker. The award of the $9.5 million de-sign contract formally launches the detailed design effort for the Polar Icebreaker which is expected to take 18-24 months to complete. STX Canada Marine Inc will, based on the conceptual design produced by the Canadian Coast Guard, advance the design work to the point where a comprehensive design pack-age can be provided to Vancouver Shipyards Co Ltd to build the

vessel. The icebreaker will be able to operate autonomously for 270 days in the Arctic, over a larger area, and in more difficult conditions than any of Canada’s current icebreakers. The new Icebreaker will be delivered to coincide with the decommissioning of the CCGS Louis S. St-Laurent in 2017.The polar icebreaker will be designed to accom-modate 100 personnel and have the ability to break through 2.5m of ice. STX Canada Marine will be supported in the Polar Icebreaker Design project by a team of highly experienced partners including Aker Arctic Technology (AARC), SNC-Lavalin, INDAL Technologies and Noise Control Engineering. Aker Arctic Technology, part of STX Europe will provide it’s world leading icebreaker design and construction expertise to the project. AARC and STX shipyards have been involved in the design and construction of over 60% of the world’s icebreakers.

10 New OSD PSVs Ordered

Offshore Ship Designers have sealed ten new design contracts for large diesel-electric Platform Supply Vessels for two major offshore operators building at three shipyards in Brazil, Japan and Spain. Swire Pacific Offshore Operations (Pte) Limited has ordered four IMT-997 Platforms Supply Vessels to be built by Universal Shipbuilding Corporation in Japan and four sister vessels to be built at the EISA shipyard in Brazil. The 97m LOA 5,000 dwt vessels will be classed with DP2 capability and have diesel-electric propulsion systems with azimuth propulsion units. The vessels will be delivered progressively from early 2014. As previously mentioned, Craig Group’s North Star Shipping has ordered two IMT-982 PSVs to be built at Balencia-ga in Spain. The 83m LOA vessels have diesel-electric propulsion systems offering greater fuel economy and effi-ciency. The vessels have an initial operating deadweight of 2,550 dwt, a useable deck area of 912 m2 and are pow-ered by four MAK 9M20 1450kw generator sets driving two Steerprop 1900 kWe Azimuths. The vessels are specially designed to operate at less than 5000 tonnes displacement to work with older North Sea structures where vessel size and weight restrictions apply and will be also classed with DP2 capability.

Rig Type Average Rates US$

Semi Sub < 1,500 ft WD $243,000

Semi Sub > 1,500 ft WD $300,000

Semi Sub 4,000 ft + WD $410,000

Drill Ship 4,000 ft + WD $464,000

Jackup IC 300 ft WD $89,000

Jackup IC 300 ft + WD $144,000

Jackup MC 200 ft + WD $60,000

Inactive Rigs Northwest Europe

Name Type Status Location

Sedco 712 SS Cold Stacked Cromarty Firth

JW McLean SS Cold Stacked Cromarty Firth

Energy Exerter JU Likely re-activation Rotterdam

GSF Galaxy I JU Cold Stacked Cromarty Firth

GSP Britannia Ex GSF Britannia

JU Being re-activated Teeside

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RIG FPSO, FIELD AND OIL COMPANY NEWS

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Statoil hits gas at Zafarani

Statoil has struck gas shows with a wildcat being drilled at it’s Zafarani prospect off Tanzania. The probe is being drilled by the drillship Ocean Rig Poseidon in 2585 me-tres of water and has “encountered indications of natural gas in a good quality reservoir”. It is the first exploration well to be drilled in Block 2, covering 5500 square kilome-tres which is operated by Statoil with a 65% working inter-est and Exxon Mobil holding the remaining 35%. Drilling will continue at the well spudded in early January towards a total depth of 5150 metres and is expected to be com-pleted within 3 months. Statoil said it was still too early to give any indication on the size of potential resources and commercially pending further analysis of well data. East Africa is fast emerging as a prospective gas province with a new giant discovery by Italian major Eni off Mozam-bique announced mid February following a find by US explorer Anadarko Petroleum in January. Statoil is in-creasingly targeting frontier areas for exploration in the hunt for “high impact” discoveries with gross resource potential of more than 250 million barrels of oil equivalent.

Forland Shipping AS builds new vessel

Forland Shipping AS has signed a contract with Havyard to build a new vessel at Leirvik in Sogn, Norway due to be completed August 2013. The vessel will be a great work place for both maritime and charter personnel with facilities such as a ‘sky lounge’ above the bridge. Specifications:- Havyard 857 design, 110m long and 22m wide, accommodation for 106 personnel, 1000m2 deck space, 150t crane, moonpool.

Two more orders for dual fuel PSVs

Harvey Gulf International Marine has ordered two more LNG-fuelled PSVs of STX Marine SV310F design, bringing it’s total order to four. The contract was signed with Trinity Offshore and is a follow-on to the first two vessels placed in October 2011. Trinity will build all four vessels at their Gulfport, MS shipyard where the first LNG powered vessel started fabrication last week. In addition to being powered by cleaner burning natural gas, the vessel will achieve ‘ENVIRO+ Green Passport’ certifi-cation by the American Bureau of

Shipping. The requirements for this certification include, among others, that the vessels be continuously manned with a certified Environmental officer, be completely constructed with certified environmentally friendly materials, and have advanced alarms for fuel tanks and containment systems. Along with Harvey Gulf’s other vessels under construction, these will be the first OSVs to achieve this certification making them the most environmentally friendly vessels of their type in the Gulf of Mexico.

Rig Utilisation

Location Feb 2012 Feb 2011 Feb 2007

North Sea/Europe 90.7% 82.9% 99%

US Gulf 62.1% 52.4% 82.6%

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Aberdeen based Asco and it’s partners have been awarded the A$104 million (US$111.9 million) contract for the construction and operation of a Marine Supply base by the government of Australia’s Northern Territory. Construc-tion partner Macmahon will build a special purpose wharf and dockside infrastructure to service the provisioning of Offshore Supply Vessels under the deal. The base will be built next to Darwin’s major part, the East Arm Wharf, and is expected to start in April and be completed by the end of 2013.

The Obama administration has announced that the Department of the Interior’s Bureau of Ocean Energy Manage-ment (BOEM) will hold the consolidated Central Gulf of Mexico Lease Sale 216/222 in New Orleans on 20th June 2012. The sale will include all available unleased areas in the Central Planning Area offshore Louisiana, Mississippi and Alabama. This is one of the many steps the Administration is taking, at the President’s direction, to increase responsible domestic production and reduce dependence on foreign oil.

Oil Price vs Rig Utilisation

RIG FPSO, FIELD AND OIL COMPANY NEWS

Central Gulf of Mexico lease sale..going once, going twice..

Asco confirmed for Darwin base

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SPO acquires Seabed

Singapore based Swire Pacific Offshore ( SPO) has bought one ship operation Seabed AS of Norway. The Bergen company was founded in 2008 by Hans Martin Gravdal who will stay on with it’s existing staff. The operation will be renamed Swire Seabed AS. SPO acquires the 9,651 hp offshore ship Seabed Worker which was built in 2009 plus high spec subsea ROVs. SPO chief Neil Glenn said “We are very pleased to announce the acquisition of Seabed, through which we will increase our capabilities and ex-tend the range of services we are able to offer our customers. We look forward to working closely with Mr Gravdal and his team in Norway as they continue to grow and develop the business”.

$103.06

$114.50

$123.15

$114.25

$116.84 $116.88

$109.22 $110.02$108.60

$110.71

$107.65

$111.12

$118.12

82.9% 83.5% 83.6% 84.3%86.8%

88.6% 88.8% 87.9% 88.0% 88.9%90.7% 90.7% 90.7%

52.4%

55.6% 56.0%

52.5% 53.3% 53.7%

50.4%52.6%

56.0%58.6%

60.2%61.9% 62.1%

$50

$60

$70

$80

$90

$100

$110

$120

$130

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Feb 11 Mar 11 Apr 11 May 11 Jun 11 Jul 11 Aug 11 Sep 11 Oct 11 Nov 11 Dec 11 Jan 12 Feb 12

Average Brent Crude US$ / Bbl European Rig Utilisation US Gulf Rig Utilisation

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Seabrokers Office Contacts Seabrokers Limited - Aberdeen Seabrokers House, Prospect Road Arnhall Business Park, Westhill Aberdeenshire AB32 6FE, Scotland Duty Telephone ++44 1224 747744 (24 Hrs) Duty Mobile ++44 7802 304129 Internet www.seabrokers-group.com

E-Mail chartering@seabrokers.co.uk

Seabrokers Chartering AS - Stavanger Forusbeen 78 - 4033 Stavanger - Norway Duty Telephone ++47 51 815400 (24 Hrs) Internet www.seabrokers-group.com E-mail chartering@seabrokers.no

Seabrokers Brasil Ltda - Rio de Janeiro Rua Lauro Muller no 116, Sala 1404, Edificio Rio Sul Center Cep: 22.290-160, Botafogo, RJ - Rio de Janeiro, Brazil Duty Telephone ++55 21 3505 4224 (24 Hrs) Internet www.seabrokers-group.com E-mail rio@seabrokers-group.com

Seabrokers Pte Ltd - Singapore 165 B Telok Ayer Street, Singapore 068618 Telephone ++65 6224 6062 or 0951 Internet www.seabrokers-group.com

E-mail chartering@seabrokers.sg

Securalift AS - Stavanger Forusbeen 80 - 4033 Stavanger - Norway Telephone ++47 51 815400 Internet www.securalift.com

Sea Surveillance AS - Bergen Lønningsflaten 28 5258 Blomsterdalen, Norway Telephone ++47 55 136500 Internet www.seabrokers-group.com

Last month’s teaser : A man was regaling his recent adventures in the arctic to his two friends. The man said he had an amazing time, that he saw the Northern Lights, watched as an iceberg slipped off a glacier into the sea. He told of battling through snow storms, watching captivated as a polar bear devoured a penguin and smiling at the cuteness of the baby seals…His friend then said to the man, “you weren’t actually there were you?”. The man gave in and eventually admitted he had been making it all up? How did his friend know he was lying ? Answer:- Penguins do not live in the arctic And the winner is :- Fabienne Ellington This month, our poser is as follows : What is always coming but never arrives? Answers back to chartering@seabrokers.co.uk for a chance to win a bottle of wine.

For the current or archive copies of Seabreeze go to: http://www.seabrokers.co.uk/ - see under Shipbroking / Market Re-ports. If you wish to Subscribe or Unsubscribe please contact : chartering@seabrokers.co.uk

Offshore Support Industry

Conundrum Corner

The Seabreeze archive

CONUNDRUM CORNER, DUTY PHONES

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The Institute of Chartered Shipbrokers, which is the leading international provider of professional qualifica-tions to the maritime and shipping industry, has recently published a new book aimed at shore based profession-als who are either directly or indirectly involved with the offshore industry. This authoritative book is both a great introduction to the operational side of the Offshore Support Industry and a valuable reference book for commercial practi-tioners. The book is designed as an easy-to-read refer-ence for those who want an overview of the technical and commercial issues involved in chartering, owner-ship and management of offshore support vessels. Complete with maps, diagrams and photographs, the book covers everything from the role of the support ves-sel to information about the wider offshore industry, in-cluding exploration and production of oil and gas plus the fast expanding Renewables sector.

Whether the Offshore Support Industry handbook is used to study for the Institute’s internationally recog-nised qualifying exams and diplomas or merely as a definitive reference source, it will prove to be an invalu-able aid for anyone seeking to expand their knowledge of this exciting industry.

For more information or to order a copy email: enquiries@ics.org.uk or telephone + 44 (0) 207 7623 1111 www.ics.org.uk

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NORTH SEA AVERAGE SPOT MONTHLY RATES

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£-

£10,000

£20,000

£30,000

£40,000

£50,000

£60,000

£70,000

£80,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £6,826 £10,187 £15,347 £23,803 £17,260 £40,000 £30,356 £44,280 £39,295 £71,964 £20,967 £22,655

2012 £16,803 £16,448 £- £- £- £- £- £- £- £- £- £-

Rig Moves

£-

£10,000

£20,000

£30,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £7,639 £6,396 £9,514 £11,330 £16,813 £20,208 £20,309 £19,922 £19,834 £17,263 £12,735 £9,704

2012 £9,032 £9,786 £- £- £- £- £- £- £- £- £- £-

PSVs > 800M2

£-

£5,000

£10,000

£15,000

£20,000

£25,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £3,536 £5,412 £8,465 £10,355 £10,923 £19,838 £16,574 £13,828 £16,894 £13,023 £10,870 £8,448

2012 £7,833 £7,804 £- £- £- £- £- £- £- £- £- £-

PSVs < 800M2

£-

£10,000

£20,000

£30,000

£40,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2011 £4,101 £5,814 £8,871 £10,705 £12,771 £20,450 £17,940 £15,823 £19,222 £15,427 £12,337 £9,820

2012 £8,425 £8,624 £- £- £- £- £- £- £- £- £- £-

All Cargo Runs

£-

£5,000

£10,000

£15,000

£20,000

All Cargo Runs PSV's <800M2 PSVs >800M2 Rig Moves

2011 £5,036 £4,474 £6,910 £8,799

2012 £8,521 £7,818 £9,375 £16,646

Average Day Rates To Month (Feb 2012)