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Farstad: North Sea Utilization Rates Down Farstad Shipping ASA is an Aalesund, Norway-based company that operates a fleet of 49 supply-vessels, AHTSs and PSVs. In December Farstad received two new PSVs from Ulstein Verft AS. Immediately after delivery Far Symphony took over a contract for Norsk Hydro from Far Scandia. Far Scandia left the North Sea in December f-SUPERIOR-LIDGERWOOD-MUNDY 302 Grand Avenue - P.O. Box 39, Superior. WI 54880 DECK MACHINERY ~ UNREP EQUIPMENT CAPSTANS-WINCHES ANCHOR WINDLASSES CLOSE COUPLED CENTRIFUGAL PUMPS Email: sales@lidgerwood.com www.lidgerwood.com Ph: 715/394-4444 ~ Fax: 715/394-6199 BUILT TO LAST" SMITH BERGER MARINE, INC. OFFERS A COMPLETE LINE OF builds a full range of Shark Jaws for Anchor Handling Tug Supply vessels. Standard ratings are 200, 350, 500 and 750 Tons and all units have Quick Release at the rated load. Smith Berger flexibility allows us to customize our equipment to suit the operating characteristics of your vessel. Third party certification, load tests, release tests and load monitoring systems are available options. Rely on the 100 year history of Smith Berger to outfit your vessel with our rugged and dependable equipment. Circle 288 on Reader Service Card 7915 10th Ave., S„ Seattle. WA 98108 USA Tel. 206.764.4650 • Toll Free 888.726.1688 • Fax 206.764.4653 E-mail: sales@smithberger.com • Web: www.smithberger.com Circle 296 on Reader Service Card DO YOU HAVE A COWBOY ON BOARD? m Cowboys are renowned for their accurate roping abilities. If every vessel had a cowboy on board, mooring would be simple. For those of you who are not cowboys, we have the Restech PLT Mooring 75. This durable, easy to use pneumatic line thrower makes accurate mooring simple. Even in heavy side winds, the aim of the Restech PLT Mooring 75 is extremely accurate up to 90 meters. The Restech PLT uses a compressed air propellant, so there are no flames or sparks, making this the perfect mooring device for tankers and cruise ships. Contact us today tor more information. S i i—t o Visit www.restech.no for a complete line of rescue and mooring line throwers RESTECH NORWAY AS Mail Address: P.O. Box 624 N08001 Bodo Norway Office Address: Jordbruksveien 41 N0-8007 Bode Norway Tel: (+47) 75 54 24 40 Fax: (+47) 75 54 24 41 restech@restech.no www.restech.no Circle 267 on Reader Service Card ^oard Trim & Stability Upda/ Ship Operators & Naval Architects- ^ 1. Users like it 2. It's truly GHS yet it costs less. 3. It can do almost anything but brew coffee. Load Wonitor kitefito&Ba • wWlW^fw GHS FulPfeatured naval architect's system GHS Load Monitor (GLM) Onboard system GHS/Salvage Salvor's system BHS Engineer's system BHS/Yacht Yacht designer's system P.O. Box 1910 Port Townsend, WA 98368 USA Phone:(360) 385-6212 fax: 385-6213 email: sales@ghsport.com .ghtport.com/Ql> Making software that naval architects love since 1972 54 Circle 219on Reader Service Card MV Tamesis is a new generation Mark IV RoRo ship with a groundbreaking design. The Mark IV RoRo provides 35 percent more covered capac- ity for specialized RoRo cargo than the previous Mark III design. to start a long-term contract for Esso in Australia. Far Splendour has started a five-year contract for Peterson Supplylink in Holland. Farstad Shipping has through its Joint Venture (BOS) in Brazil, three AHTS under construction at Brazilian yards for delivery in 2004/2005. These vessels have all got long-term contracts to Petrobras. The demand for supply vessels in the North Sea has decreased during the fourth quarter and the number of vessels on long-term contracts was by the end of the year down to 122. The spot market has varied between 27 vessels and 39 vessels, and has resulted in a total demand for vessels in the fourth quarter of I6l vessels on average. The average for the year was 179 vessels. The supply side in the North Sea has seen a contin- uing departure of vessels and even though a number of new vessels were delivered from yards in the North Sea area during this quarter, the fleet still ended at 182 vessels. The average uti- lization ratio was as low as 86 percent, resulting in a low rate level during the quarter. The prospects for the North Sea are uncertain for the rest of the year. If the rate level is to recover, the activity has to increase and the fleet will have to be reduced. In Australia/the Far East the level of activity has remained good, but the sup- ply side is increasing and the rates are coming under pressure. In addition there is now a temporary lower activity level due to the monsoon season in the Southeast Asia during the first quarter. The activity in the Mediterranean and West Africa is increasing, but a large part of the departure of vessels from the North Sea has been to these areas, and it is uncertain how much the fleet in these areas can increase in the time to come. However, a larger part of the world's fleet is more than 20 years old, so a renewal will be required. This together with an expected increase in activity on a world basis and a reduced activity in new building, give expectation of a bal- ance between supply and demand during the year. Maritime Reporter & Engineering News
