BRAEMAR SEASCOPE OFFSHORE

MONTHLY MAGAZINE

November 2012 ISSUE: 56

MARKET NEWS &

ANALYSIS

VESSEL DAYRATE

CHARTS

RIG NEWS

BROKER

COMMENTARY

DECC 27th

Licencing Round

Awards

Picture Courtesy of STX OSV Langsten-HaraldMValderhaug

Welcome to the latest edition of the

Braemar Seascope Offshore North Sea

Vessel Report. As we move into Novem-

ber we can reflect on a past few weeks

that has been relatively active in terms

of vessel activity. The controlled ditch-

ing of a helicopter and the subsequent

grounding of a number of flights has

also pushed oil companies into looking

at vessels for crew transfers.

However, despite this additional de-

mand and a number of unusual jobs

such as moving the FPF-1 production

unit to Gdansk and transporting seg-

ments of an aircraft carrier, the number

of available boats has ensured rates

have remained low.

As the report goes to press there are 20

PSVs prompt in North Sea ports and a

further 20 AHTS vessels.

Average dayrates for spot AHTS fixtures

in October were GBP 17,992 and GBP

19,690 for large and medium vessels

respectively. Meanwhile, PSV rates

were GBP 9,714 and GBP 9,277. No-

vember average rates are expected to

fall away slightly from these figures.

We hope you find the latest edition of

our report useful and look forward to

hearing your feedback and comments.

The next edition of this report will be

out December 3rd.

Sean Bate

Click Here to go to

Online Version

Subsea

Market

Latest

For the latest on the subsea con-struction and sur-vey vessel availabili-ties please contact us for a copy of our Subsea Vessel Mar-ket Summary. We are constantly mon-itoring the require-ments, fixtures and availability of the North Sea fleet. For more information please email us.

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O ctober began as September finished in

the North Sea AHTS segment, with a

steady volume of rig move activity keep-

ing anchor handlers rates fairly buoyant

as Statoil and various UK based Charterers secured

tonnage for semi and jack-up rig moves.

This, however, was not to last as a decrease in activity

coupled with the return of tonnage from Sevan’s in-

stallation of FPSO Voyageur Spirit and various other

project workscopes softened up the market signifi-

cantly. The slowdown in activity continued on

throughout the month with day rates dropping ac-

cordingly.

The oversupply of tonnage which has characterised

the PSV market over the last few months has contin-

ued throughout October with a steady frequency of

requirements, particularly in the UK sector, unable to

lift the market due to the almost constant return of

tonnage, including newbuildings.

Four newbuild large PSVs joined the North Sea fleet

during the month; Farstad’s ship of the year 2012, Far

Solitaire went almost straight from delivery onto a

term contract with Statoil, whilst Vesltand’s Havyard

832 design Vestland Mira secured several weeks work

with Seismic player SGS. Island’s UT776 LNG vessel

Island Contender also

joined the ranks and picked

up her maiden fixture with

BP Norway, making use of

her standby notation, with

the final delivery of the

month being the PX105-designed Bourbon Clear.

The unfortunate controlled ditching of the EC225 Super

Puma helicopter between Orkney and

Shetland, which resulted in the grounding

of a significant share of the North Sea

helicopter fleet for a period has, as ex-

pected, had some effect on the PSV mar-

ket. Since the incident and subsequent

groundings Oil Companies have concluded a handful of

fixtures for passenger transfer duties. Thus far this

has yet to have a significant effect on PSV rates at

large, but several vessels with large accommoda-

tion facilities have been able to enjoy rates at a

significant premium to the market.

When it comes to term business the fixing of Seal-

ion’s large PSV Toisa Invincible into Israel has been

one of the month’s notable fixtures.

(continued overleaf….)

Shipbroker - Offshore

ROSS FINLAYSON

Broker CommentaryBroker CommentaryBroker Commentary

Click Here to Email Ross

Aberdeen@seascope.co.uk

Tel: +44 (0)1224 628 470

“The oversupply of

tonnage in the PSV

market has continued.”

S he will be working with AGR in support of

deepwater semi Noble Homer Ferrington into

January 2013 with 3 x 1 well opts thereafter.

Bourbon Front has

headed in a similar direction

as she was fixed for over one

month’s work with Technip in

the Mediterranean, whilst the

North Promise and Olympic

Electra have been fixed for

medium term contracts in the North Sea, with Senergy

and Centrica respectively.

The Loke and Magne Viking have recently been con-

tracted to Petrofac for the tow of semi production unit

FPF 1 from Hartlepool to Gdansk, where she is heading

to the yard for a refit prior to commencing work with

Ithaca. The duo is anticipated to return to the North

Sea in the second week of November. Also, AHTS in-

volvement is still required at the recently installed

Maersk Oil operated Gryphon FPSO, after Normand

Neptun was fixed up for a heading control job where

she will join the 2009-built Maersk Laser. Two further

medium sized anchor handlers are expected to depart

the region for sunnier climes, though their withdrawal

looks set to be countered by the return of two of Sol-

stad’s UT742’s. Year on year October has proved to be

one of the busier months in the rig

move calendar, however a sustained

period of good weather, combined with

good availability and a drop in activity in

the second part of the month has meant

that the anticipated peak did not mate-

rialise. The arrival of November has historically sig-

nalled the onset of the seasonal downturn for both

AHTS and PSVs, however should the grounding of heli-

copters persist then there is the potential for some sort

of resurgence in the PSV market, if only for the very

large vessels with enhanced accommodation facilities.

Far Solitaire

Design: UT-745 WP

Owner: Farstad

LOA: 91.6m

Beam: 22m

DP: 2

Deck Area: 1022m³

Accom: 25

Oil Rec, Clean Design, Ice-C

Click here for full spec

SPEC BOX

Broker CommentaryBroker CommentaryBroker Commentary

SolitaireSolitaireSolitaire FarFarFar

“The anticipated

October rate peak did

not materialise.”

The large PSV Skandi Sotra has been fixed for one month firm plus four additional weekly options with BP UK. The MT-6000 designed vessel is expected to be on the con-tract until at least the end of November with the possibil-ity of only being charter free at the start of 2013. The Skandi Sotra was fixed at a dayrate of around GBP 13,250. Meanwhile, it is understood the medium sized PSV Northern Supporter has been extended by 3-5 months from the first of November with BP.

There are seven outstanding long-term requirements: 1 x PSV / Nexen / 1 year + 1 x 9 month opt / Nov 2012 1 x PSV / Apache / 1, 3 or 5 yrs +1yr / Nov-2012-Mar 2013 1 x PSV / Enquest / 1,2, years + 2 yr opt / Nov 2012 1 X PSV / Taqa / 1 yr + 1 yr opt / Jan-Mar 2013 1 x PSV / BP N / 5 years + 5 x 1 yr opt / comm 2013-2015 1 x PSV / Maersk UK / 3-5 years / comm Q1-Q2 2013 1 x PSV / Peterson SBS / 1 year + 2 x 1yr / Jan-Feb 2013

The large AHTS Olympic Zeus has carried out helicopter recovery work for CHC following the ditching of a Super Puma EC 225 in the North Sea south of Shetland. The ves-sel is now engaged in the rig move of the Byford Dolphin for BP UK alongside the VS-4622 CD designed Balder Vi-king. All 19 people on board the helicopter were picked up by the vessel Nord Nightingale following the incident. A number of helicopters have been grounded following the ditching with vessels taking on crew transfers.

There are three outstanding medium-term requirements: 1 x PSV / GdF Suez / c 3 months + 2 x 1 month / mid Nov 1 x PSV / BG UK / 1 well 120-220 days / comm Jan-Feb 1-2 PSV / Saipem / Supply Duties / 60-100 days / Q1 2013

Medium-Term Requirements

Long-Term Requirements

Olympic Zeus Performs Helicopter Recovery

Skandi Sotra Fixed to BP UK

©Copyright Braemar Seascope Offshore 2012

CharteringCharteringChartering

The multipurpose PSV/Standby vessel Bourbon Eko has returned to the North Sea spot market and has been available since October 20th. The vessel came off a long-term charter with ConocoPhillips Norway. It is un-derstood that the vessel could be sent into lay-up if a new contract is not forthcoming. The vessel is a 1992 built vessel with a deck area around 420 m2, two MOB Boats and a Dacon Scoop.

The large AHTS vessels Magne Viking and Loke Viking have been carrying out the tow of the floating production facili-ty FPF 1. The 30-year old unit is being towed from Teeside to Gdansk for extensive upgrade work. The FPF 1 is being prepared to be installed on Ithaca Energy’s Stella area. The sister ships Loke and Magne Viking are expected to be occupied until around the end of the first week of Novem-ber. The vessels are VS-4622 CD designed vessels with bollard pulls of 220t.

The large PSV North Promise has been chartered by Sen-ergy to support a one well drilling programme with the semisubmersible rig Ocean Nomad. The company also has an option to extend the vessel for a further well. The Ocean Nomad has recently completed a one-well pro-gramme with SPD prior to the commencement of the Sen-ergy workscope. The North Promise is a 2007-built diesel electric PSV equipped with DP1, a deck area of around 1,000 square metres and accommodation for 26.

The newbuild PSV Vestland Mira has been named at a ceremony in Balestrand and has commenced a contract in the North Sea with SGS. The Havyard 832 L designed vessel is equipped with DP2, a deck area of around 900 square metres and accommodation for 25. The vessel is expected to remain on charter with SGS until around the middle of November before joining the North Sea spot market.

Vestland Mira Named & Begins Work

Magne & Loke Viking Tow FPF 1 to Gdansk

Bourbon Eko Returns to Spot Market

©Copyright Braemar Seascope Offshore 2012

CharteringCharteringChartering

North Promise Supporting Ocean Nomad

The AHTS vessel BB Troll and the AHT Carlo Magno have been involved in the towage of the AMT Trader from BAE Systems at Govan on the Clyde in Glasgow to Rosyth. The AMT Trader is carrying the stern and last section of the Queen Elizabeth aircraft carrier. The Carlo Magno is a UT-514 L designed twin screw vessel. The BB Troll is a VS-473 designed AHTS with a bollard pull of around 158t and DP2. The vessels are expected to conclude the work at the end of the first week of November.

The large PSV Toisa Invincible has been fixed to support AGR in a drilling campaign offshore Israel. The vessel will be working alongside the Noble Homer Ferrington rig for one well plus an additional three one well options. The Toisa Invincible is a 1998-built DP2 PSV equipped with a deck area of around 936 square metres and accommoda-tion for 27 personnel.

The naming ceremony of the large multifunctional supply and construction vessel Olympic Taurus is set to take place on November 26th at Kleven Maritime. The vessel will be delivered with the Helideck. The MT-6015 de-signed vessel is Clean Design, has a deck area of around 1060 square metres, accommodation for 60 personnel and is equipped with DP2. The vessel is currently charter free upon delivery.

The medium sized PSV Olympic Electra has been fixed for 90 days firm plus four additional one week op-tions with Centrica. The vessel will be supporting the Noble Julie Robertson on a dayrate of around GBP 10,500. The Olympic Electra is an MT-6009 L designed vessel equipped with DP2, a deck area of around 745 square metres and accommodation for 40.

Olympic Electra with Noble Julie Robertson

Toisa Invincible Fixed to AGR Israel

Upcoming Olympic Taurus Naming

BB Troll & Carlo Magno Tow AMT Trader

©Copyright Braemar Seascope Offshore 2012

CharteringCharteringChartering

The Scottish Loan Fund has announced that it has provid-ed GBP 4 million to Fletcher Shipping to part-fund the ac-quisition of the platform supply vessel FS Taurus. The deal also includes an option to drawdown a further GBP 1 mil-lion. The Scottish Loan Fund was set up to address the market need for finance by Small and Medium Enterpris-es. It focuses on providing mezzanine loans to growth and export businesses with an annual turnover of more than GBP 1 million.

The results of the UK Department of the Energy and Cli-mate Change (DECC) 27th North Licensing round have been announced. A total of 167 licences have been awarded with Apache Energy securing 11. There were also eight for Enquest, Nexen and Total. Statoil picked up two licences, Faroe Petroleum secured three and Xcite was also awarded one of the licences. A full breakdown of the awards can be seen on a number of charts in the rigs sec-tion of this report.

Providence Resources has updated its reservoir analysis of its Barryroe oil field off the coast of Ireland. Initial studies have indicated that recovery rates could be between 17 and 43 per cent with a recovery factor of 31 per cent be-ing used for development planning. The company is now studying a potential development scenario that could in-clude 41 horizontal production and 22 horizontal water-injection wells.

Technip and Hereema have signed a worldwide agree-ment to combine their capabilities in the subsea market. The five-year deal will see the two companies bid together on EPCI projects and bring together resources such as the S-Lay and Reel Lay assets. Hereema also has the J-Lay in-stallation vessels Aegir, which is under construction, and Balder. The companies will be working together from to-day on implementing the agreement and plan to bid to-gether on several major contracts in the future.

Technip & Hereema Form Alliance

DECC 27th Awards Announced

Providence Resources Updates Barryroe

Fletcher Shipping Gets Scottish Loan Fund

©Copyright Braemar Seascope Offshore 2012

CorporateCorporateCorporate

Talisman has been granted approval by

the UK Department of Energy and Cli-

mate Change (DECC) to carry out the

MonArb area redevelopment. The GBP

1.6 billion project covers blocks 22/17,

22/18 and 22/23a in the central North

Sea. Chevron has chartered the semi-

submersible Sedco 704 through to May

2013. The deal will see the rig continue

with the oil company in direct continua-

tion of its existing charter.

Meanwhile, the semisubmersible Ocean

Nomad has commenced a six-well pro-

gramme in the UKCS for five different

operators. The rig, which is currently

with Fairfield Energy, will work for Dana,

First Oil, Noreco and has previously car-

ried out work for Endeavour. The rig will

be on charter through to around the

middle of May 2013 before undergoing

survey work ahead of a two-year char-

ter with Dana that will see it fixed

through to July 2015.

West Group has launched a new rig con-

cept that boasts well construction with-

out any interruptions in the drilling pro-

cess. The continuous motion rig has the

first continuous movement of drilling

tubular, drillstring and casing. The idea

is to increase efficiency and reduce drill-

ing time and rig costs. According to the

firm, the technology could reduce drill

time by up to 50% and potentially lower

costs by up to 45%. For more details

click the video above to go through to

the West Group website.

DECC

27th

Awards

The UK Department of

Energy and Climate

Change (DECC) has an-

nounced the awards for

the 27th licencing

round. A total of 167

awards have been

made covering a total of

356 blocks. The greatest

number of awards has

gone to DONG with 28

followed by Parkmead

and Total with 24 each.

Statoil secured three,

ConocoPhillips took two

and BP one. Meanwhile,

smaller oil companies

Xcite and Ithaca were

awarded three and two

blocks respectively.

Among the awards were

18 obligated firm wells.

Norway UK/Irl Denmark Netherlands Stacked without future contract

Stacked with future contract Total

Drillship 2 2

Jackup 9 18 4 5 4 40

Semi-Sub 19 17 2 5 43

Total 28 37 4 5 2 9 85

ChartChart Rig Rig Rig

Rig Activity by Type and Country

28

24 24

17

15

14 14

13 13

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11

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4 4

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2 2 2 2 2 2 2

1 1 1 1 1 1 1 1 1 1 1 1 1

0

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10

15

20

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30

Number of Blocks Awarded - DECC 27th Licencing Round

DECC 27th Licencing Awards

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PricePrice Oil Oil Oil

BunkerBunkerBunker

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Bu

nke

r P

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GB

P/M

T

Bunker Price in Aberdeen 2011 to Present

PricePrice

Price courtesy of Scandinavian Bunkering, subject to supply method, volume and market fluctuations.

200520052005---201220122012

Friday 12th October saw the keel laying ceremony at Nanjing East Star for newbuild 50 metre ERRV Vos Fa-mous. This is one of six sister vessels ordered at the yard by Vroon and when delivered next year will form part of their North Sea fleet.

Enquest is reportedly tendering for a vessel to support the Stena Spey from December / January for up to two years. The requirement is effectively against the Esvagt Capella for a drilling programme with the Stena Spey. Enquest has an-other Esvagt vessel on long term charter - namely the Esvagt Sigma that is supporting the SS Ocean Princess. SPD / Valiant are tendering for a vessel for 2 wells from Q1 2013 for sup-port of a programme with the GSF Arctic III. The rig is on charter to Nexen supported by the ERRV VOS Lismore.

Premier has chartered the standby vessel Ocean West for a two well charter (circa 90 days) plus multiple options. The vessel will be supporting the drilling programme with the WilPhoenix. The Ocean West and the rig had previous-ly been on charter to Hess since March 2012 and trans-ferred to Premier at the beginning of October.

GdF Suez has entered the market with a tender for an ERRV/Standby vessel to support a one well pro-gramme with the Noble Ronald Hoope rig. The char-ter is expected to have a duration of around 100 days and the vessel will be required from around the first half of January 2013.

GdF Suez Tendering for Standby Vessel

Enquest & SPD/Valiant Tendering

Ocean West Fixed to Premier

VOS Famous Keel Laid

©Copyright Braemar Seascope Offshore 2012

Standby/ERRVStandby/ERRVStandby/ERRV

Siem Offshore is to expand its offshore construction fleet after taking up an option for two additional subsea con-struction vessels (OSCV) with STX. The vessels will each be equipped with a 250t active heave compensated crane and launch recovery system LARS. The vessels are sched-uled for delivery in the second quarter of 2014. Siem al-ready has two OSCVs being built at STX OSV Norway due for delivery in the third and fourth quarter of 2013.

The newbuild multi-role vessel Skandi Nova has been de-livered to DOF from STX OSV Aukra. The STX MRV 05 de-signed vessel is equipped with a clear deck area of around 600 square metres, DP2 and accommodation for 46 per-sonnel. The versatile layout of the vessel also enables the possibility for it to carry out light seismic duties with streamers.

Eidesvik has signed a deal with Subsea 7 for a five year charter of the Subsea Viking. The contract breaks down into declaration of an existing two year option with a fur-ther three years firm added on to the original contract. This will see the vessel on charter to Subsea 7 until Janu-ary 2018. In addition Subsea 7 holds a further two year option on the vessel. The Subsea Viking is a multifunction-al construction support, ROV and flexible pipelay installa-tion vessel with 2 ROVs and 1,100m2 deck area.

DOF Subsea has secured a contract with Kystverket to car-ry out the survey of the wreck of the U-864 U-boat and surrounding seabed. The vessel was carrying weapons grade mercury to Japan when it was torpedoed by a British submarine. DOF will carry out a survey of mercury pollution in December and will return in the Spring of 2013 to remove oil from the wreckage.

DOF Subsea Fixed for U-Boat Survey

Skandi Nova Delivered from Aukra

Subsea Viking Extended for 5 Years

Siem Declares Options on OSCVs

©Copyright Braemar Seascope Offshore 2012

SubseaSubseaSubsea

Norddeutsche Seekabelwerke GmbH (NSW) has taken de-livery of the newly refurbished DP2 cable lay vessel Aura which has been chartered on a long term agreement from the vessel management company Meriaura. The vessel has been outfitted with an accommodation unit, heave compensated crane, and the beam section of the central working area has been extended from 18m to 25m to ac-commodate a new 23m wide turntable.

Statoil and Statkraft have acquired the Dudgeon Offshore Windfarm. Dudgeon recently received an offshore con-sent that allows for up to 560 MW of installed power gen-eration. The site is 32km off the coast of Norfolk and is 20km North east of the existing Sheringham Shoal wind-farm. Statoil will hold a 70% share in the project and Stat-kraft will have the remaining 30% stake.

Austal has secured an order for four 27-metre catamarans from UK-based Turbine Transfers. The vessels, which will be built at the Austal shipyard in the Philippines, will be used to support wind turbine installation activities and maintenance in European waters. The vessels will be built over nine months commencing in March 2013. The Wind Express 27 catamarans will be able to transport 12 per-sonnel and 10 tonnes of equipment and will be able to operate at speeds in excess of 27 knots.

The newbuild jack-up vessel Brave Tern has left the Lam-prell shipyard in Dubai and is now heading to the Harland & Wolff fabrication plant in Belfast. The Fred Olsen Wind-carrier vessel is due to commence its maiden workscope in the coming weeks. Forewind has contracted the vessel to install meteorological masts on Dogger Bank. One met mast will be installed in the west of the zone with the se-cond in the east. The installation is expected to take place before the end of 2012.

Brave Tern Leaves Yard for Dogger Work

Statoil & Statkraft Acquire Dudgeon

Turbine Transfers Orders Four Austal Boats

NSW Begins Work with Aura

©Copyright Braemar Seascope Offshore 2012

RenewablesRenewablesRenewables

JES International has secured a pair of orders for UT-755 LN Platform Supply Vessels from an un-named Norwegian cus-tomer. The delivery of the first vessel is expected to take place at the end of 2014. The second vessel for the same client is expected to be delivered shortly afterwards. Ac-cording to a statement from JES, none of the directors or controlling shareholders of the company has any interest direct or indirect in the contract.

The Port of Tallinn has bought the icebreaking vessel Bot-nica for EUR 50 million. The deal with Finnish shipping company Arctia has been done via a short term loan from a commercial bank but the port is seeking to refinance through a 10-year loan from the Nordic Investment Bank. The Botnica is expected to arrive in Estonia in the second half of December and will mainly assist in the ports of Muuga, Kunda and Sillamae. The 1998-built Botnica is ICE-10 designed with a maximum speed of 16.5 knots.

Market reports indicate that Bourbon has sold three PSVs that are currently based in West Africa. The vessels are understood to be the 2004 built Antenor and Asterie and the 2003-built Atlantide. The new owners, 3B Offshore, are believed to have paid USD 24 M each. All three vessels have been bareboat chartered back to Bourbon for five-years at a dayrate of USD 8,200.

The AMC Connector joint venture between Aker Solutions and Emas Offshore has agreed to sell the subsea construc-tion vessel Lewek Connector to Ocean Yield for USD 315 million. The transaction will be completed in the fourth quarter of 2012. Ocean Yield is a wholly owned subsidiary of Aker ASA which owns 28 per cent of Aker Solutions.

AMC Connector Sells Lewek Connector

Port of Tallinn Buys Icebreaker Botnica

Bourbon Sells & Bareboats Trio of PSVs

Norwegian Orders for Two JES UT-755 LNs

©Copyright Braemar Seascope Offshore 2012

Sale & Purchase Sale & Purchase Sale & Purchase

DayratesDayrates PSV PSV PSV

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DayratesDayrates AHTS AHTS AHTS Average North Sea Spot Average North Sea Spot Average North Sea Spot

AHTS Rates 2011/12AHTS Rates 2011/12AHTS Rates 2011/12

Average North Sea Spot Average North Sea Spot Average North Sea Spot

PSV Rates 2011/12PSV Rates 2011/12PSV Rates 2011/12

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Se

p-1

1

No

v-1

1

Jan

-12

Ma

r-1

2

Ma

y-1

2

Jul-

12

Se

p-1

2

Large PSVs (700m2+ Clear Deck) Medium PSVs (500-700m2 Clear Deck)

DayratesDayrates PSV PSV PSV

£0

£20,000

£40,000

£60,000

£80,000

£100,000

£120,000

£140,000

Jan

-04

Ma

r-0

4

Ma

y-0

4

Jul-

04

Se

p-0

4

No

v-0

4

Jan

-05

Ma

r-0

5

Ma

y-0

5

Jul-

05

Se

p-0

5

No

v-0

5

Jan

-06

Ma

r-0

6

Ma

y-0

6

Jul-

06

Se

p-0

6

No

v-0

6

Jan

-07

Ma

r-0

7

Ma

y-0

7

Jul-

07

Se

p-0

7

No

v-0

7

Jan

-08

Ma

r-0

8

Ma

y-0

8

Jul-

08

Se

p-0

8

No

v-0

8

Jan

-09

Ma

r-0

9

Ma

y-0

9

Jul-

09

Se

p-0

9

No

v-0

9

Jan

-10

Ma

r-1

0

Ma

y-1

0

Jul-

10

Se

p-1

0

No

v-1

0

Jan

-11

Ma

r-1

1

Ma

y-1

1

Jul-

11

Se

p-1

1

No

v-1

1

Jan

-12

Ma

r-1

2

Ma

y-1

2

Jul-

12

Se

p-1

2

Large - AHTS (16,000+ BHP) Medium - AHTS (12-15,999 BHP)

DayratesDayrates AHTS AHTS AHTS

Average North Sea Spot Average North Sea Spot Average North Sea Spot

AHTS Rates 2004AHTS Rates 2004AHTS Rates 2004---201220122012

Average North Sea Spot Average North Sea Spot Average North Sea Spot

PSV Rates 2004PSV Rates 2004PSV Rates 2004---201220122012

Braemar Seascope Offshore is a division of

Braemar Shipping Services PLC, a leading

integrated provider of brokering and con-

sultancy services to the shipping industry.

At Braemar Seascope Offshore our aim is

to provide cost effective solutions to our

clients' offshore programmes.

Regular advances in technology mean our

work is a direct response to constantly

changing market needs.

From offices in London, Aberdeen and Sin-

gapore we specialise in the worldwide off-

shore market.

Our services include:

Spot and period chartering

Short sea and ocean towage

Newbuild and second hand sale &

purchase

Bespoke research and reports

Corporate mergers, acquisitions &

fleet sales

Valuation services

Contact

Us Sean Bate

Market Analysis

Manager

35 Cosway Street

London

NW1 5BT

UK

Phone:

+44 (0)20 7903 2736

E-mail:

research

@seascope.co.uk

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B raemar Seascope Offshore is in an ideal posi-

tion to offer industry insight on all aspects of

the offshore vessel market across the globe.

Our expert brokers are on call 24 hours a day

and are able to offer advice, information and up-to-the-

minute detail on vessel rates, availability and positions.

Visit the Braemar Seascope Offshore

website by clicking the logo below

or going to:

www.braemarseascope.com

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CONTACT US

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