Weekly Market Update - WSB One - Week 1

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a WESTHON company

WEEKLY NEWS welcome back hos brass ring After departing to Guyana in October last year to perform core sampling activities as noticed by WSB, the HOS Brass Ring has made it safely back to Guanabara Bay anchorage. The vessel is being refitted and will soon be trading in Brazilian waters.

WEEK 1 2023

3D research to be made in Foz do Amzonas basin Companies CGG and TGS announced this week the second phase of the multiclient 3D research for the Foz do Amazonas basin, located in the equatorial margin off the north coast of Brazil. The data supplying companies shall provide high quality 3D coverage of 11.425 square kilometres that are going to be essential for the explorations in the region. Both companies see this new project as a strengthening and broadening of their positions and library data as well as a deeper understanding of the seabed.

hybrid AHTS tender

HOS Brass Ring

SS pantanal auction ICBC Leasing, the Chinese financial institution, has announced the sale of the deepwater semisubmersible drilling rig SS Pantanal. The unit was built by Yantai CIMC Raffles Shipyard, delivered in November 2010 and, upon completing final preparations and mobilisation, operated in Brazil from 2012 to 2014. The rig was laid up in Porto do Açu since 2015 and in early 2021 was transported by a Cosco heavy lift to Indonesia where she had remained in lay up since her arrival. According to the auction manager, Zhejiang Shipping Exchange, all the machinery and equipment are shut down and some areas and tanks cannot be presently accessed and inspected. Further, it has not been dry-docked since delivery. The starting price is USD 8 million with bid increments at multiples of USD 0.02 million. Interested parties have until February 9th to register as participants.

Last Friday, Petrobras received offers for the AHTS tender with hybrid propulsion (battery packs). The opportunity aims the hire of up to 2 vessels for a 4-year firm contract period with mobilization expected between July and September this year or 120 days after contract signature, whichever occurs latest. There was some concern over the battery packs requirement however, even with many requests not accepted by Petrobras during the tender process and several postponements of the submission deadline, the opportunity displayed a decent number of competitors, granted this was the first ever public tender to demand a hybrid propulsion solution. Amongst a total of 9 vessels presented to Petrobras, CBO snatched the first two places at USD 39.650,00/ day with their AHTSs acquired from Finarge AH Liguria and AH Valletta. Although bidders had to comply with the battery requirement, the winning rates did not wander too far from the USD 35.000 winning day rate in the previous AHTS tender which did not require any kind of hybrid propulsion. Despite not waiving the hybrid propulsion while understanding the technical and logistics challenges involved in such adaptation, Petrobras granted the awarded vessels a 12 month-window from the start of the contract to be fully compliant with this requirement.

WSB Advisors is a leading advisory group with central offices in Rio de Janeiro, Houston and Paris. WSB is a Westhon Company. © WSB.One all rights reserved. 2022. Phone: +55 21 3545-0350 | E-mail: comercial@wsb-advisors.com | Address: Av. Rio Branco, 12, 19º andar - Centro, Rio de Janeiro


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