PSV Contract Highlights: Energy Sector Surge In April

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BP’s Long-Term Charters

Vessel owners secured term contracts for platform supply vessels (PSVs) in April as energy companies secured assets to cover field developments and drilling commitments during a period of rising rates and shortening supply

BP chartered 2011-built Vestland Artemis for five years and Solvik Supplier for four years from Vestland Offshore to supply its production facilities and drilling rigs in the UK sector.

Havila Shipping Extensions

Havila Shipping extended contracts for its PSVs Havila Borg and Havila Fanø. Havila Borg was chartered by Petersen for 150 days starting April 5, while Havila Fanø was chartered by Total Energies for three months until June 2024.

Total Energies chartered Havila Fanø for three months to the end of June 2024 to support its operations in Denmark. Havila said day rates for both contracts were fixed according to current market prices.

Golden Energy Offshore Services Contracts

Golden Energy Offshore Services won contracts for 2016-built, Ulstein PX121H design Energy Partner, 2005-built, ST 216 L design Energy Swan and 2015-built, Ulstein PX121 design Energy Pace.

All three were hired on short-term contracts by international charterers with a combined total of 380 firm vessel days and a value of US$10.8M, with average rates of US$28,000 per day.

The charterers have options to use these vessels for another 380 days at an average day rate exceeding US$28,600. If these options are exercised, the total contract value would amount to US$21.7M.

Tidewater’s PSV Charter

Tidewater gained a charter from Belgian marine contractor DEME for a pair of PSVs supporting subsea installation work. 2011-built Troms Capella and 2005-built Skipper Tide were fixed for 180 days each, starting in June 2024, with extension options. Neptune Energy chartered 2013-built PSV Troms Lyra for four months at about $25,000 per day in March.

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Source: Riviera