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Offshore vessels such as OSVs, Platform Supply Vessels (PSVs), AHTSVs provide essential support and supplies to Exploration & Production activities away from shore. These include supply of equipments & machinery, fresh water, fuel, food, machinery, etc. Other category of Offshore vessels such as AHT and AHTS are useful in towing of rigs involved in drilling activity, platforms, etc form one location to another. There are also specialized vessels for carrying out seismic surveys, laying underwater pipelines, etc. Multipurpose Supply Vessels (MSVs) perform several tasks like supply, pipe-laying, etc. In order to optimize resources, vessels such as MSV have been introduced in system to undertake multitasking. In addition some vessels perform the job of transporting personnel and emergency & rescue services.
The offshore vessel industry historically has seen strong cyclical fluctuations. It was characterized by a fragmented ownership (large number of players with few boats) and low barriers to entry. This often resulted in overcapacity of boats. However, with the increasing capability of vessels, technology requirement, and financial capability to own them; the entry barriers to enter the segment have increased in recent years. Small companies with small number of boats and small capability of boats still exists.
|Operator||Hiring Mode||Tendering Location||Duration|
|ONGC||Open Global Tender||India||
ONGC has introduced age criteria & it does not hire vessels older than 21 years
New & harsh env field development, new and technology intensive vessels are hartered.
Previous work experience on similar types of vessels is a must. In the absence of experience by company, it should have tie-up with a company which has similar experience
|3 years to
|Reliance||Closed tender||India||Based on one to one negotiation reliance selects vessels for deployment in the offshore fields||3 years to
|BG||Global Tender||UK||Though contracts are signed in India, there is good amount of involvement of UK headquarters in the whole process. India office undertakes local coordination for cabotage, etc||1year/
|GSPC||Open Global Tender||India||Chartered for 3 to 5 years. Though there is no restriction on the age of the vessel. GSPC tends to hire vessels which are in good condition.||3 year|
|Others||All India||On adhoc basis for their special requirements, enquiry is floated to all the international brokers.|
The Indian fleet consists of more than 200 vessels. In addition, more than 100 foreign flagged vessels are operate at any given point of time in Indian waters. Due to demand supply gap of offshore vessels in the local market, a large number of offshore vessels migrate to Indian waters on short term to long term contracts.
Indian shipping companies have mostly built or acquired offshore vessels with wide acceptance. The companies try to target long term projects of ONGC and other E&P companies. Deploying offshore vessels on long term charter hire contracts provide the assured income. This leaves niche segments market for international companies. There is wide scope of entering with suitable assets.With recovering oil prices and rising E&P activities, the future seems secure for offshore supply vessels on the demand side. Going by the number of deep sea blocks being sold at programs like NELP, there will be an increasing demand for deep sea capable supply vessels, as future exploration is going to be mainly in deep seas globally. However, in India share of shallow water fields and production would remain substantially high.
Market research: Offshore exploration As India continues to import a large majority of its energy needs, there's a growing push towards increasing the offshore exploration activities of the country. The huge potential of offshore exploration in the country presents a lot of promise for offshore supply vessels. Organizations, both government and private, looking for growth opportunities in offshore supply vessels can benefit from Mantrana's market research expertise in the space. Information provided by Mantrana includes:
• Information on offshore supply vessel fleet (both national and international) currently sailing in Indian waters
• Up to 5 years' performance history of different offshore supply vessel providers
• Traffic projections for offshore supply vessels
• Top customers, both government and private
• Information related to procurement of offshore supply vessels
• Financial research, including revenue and cost projection