Singapore-based Ultra Deep Solutions (UDS) has invited shipyards to quote for what promises to be its largest diving construction support vessel (DSCV) yet.
The proposed DP3-capable ship, which is being designed by Marin Teknikk of Norway, will have a length of between 150 metres and 160 metres.
The vessel will be required to support a crane with a lifting capacity of between 600 tonnes and 900 tonnes, and have a 24-person saturation diving system.
Longest to date
If the company opts for the longest version, it will be approximately 18 metres longer than the offshore vessel owner's largest ship, the 143-metre Ultradeep Matisse.
The vessel is currently under construction at China Merchants Heavy Industry Co's Shenzhen yard and is due for delivery in the second quarter of 2020.
When UDS launched in 2014, there were 97 such vessels in operation. There are only 60 left in service today, of which 12 have been in service for more than 30 years
UDS chairman and chief executive Sheldon "Shel" Hutton confirmed this week that requests for proposals had been sent to 10 shipyards.
He added that he hoped a contract could be firmed up by December.
UDS currently has five DSCVs, either trading or under construction.
Meeting demand
In an interview in July, Hutton told TradeWinds that the company would have no problems finding employment for double that number.
He attributed this to the DSCV sector’s small and ageing fleet.
When UDS launched in 2014, there were 97 such vessels in operation. There are only 60 left in service today, of which 12 have been in service for more than 30 years.
“They need to be scrapped,” Hutton said. “When they are gone, there will only be 48 left.”
Hutton revealed the company was planning to order another five ships, with design work on at least one having already begun.
The new ships will be similar to UDS’ first five vessels, although they will feature a hybrid diesel-electric/marine gasoil propulsion system.
The hybrid system is expected to realise sizeable fuel savings on dynamic positioning (DP) mode over the existing UDS fleet’s consumption level, which it claims is already half the market level when operating on DP modes.
Bullish sentiments
Hutton was not concerned that other operators sharing his bullish sentiments might rush out to order more tonnage and potentially cause overcapacity problems.
He suggested that many of UDS’ competitors did not have the capital expenditure capacity to order new ships, and added that Chinese yards wanted a minimum down payment of 30%.
Building DSCVs is an expensive undertaking. Each of UDS’ ships reportedly cost in excess of $100m, with the price of the Ultradeep Matisse estimated to be in the region of $150m.
The new ship UDS wants to build will likely come in at an even higher price.
