Valdas Ramanauskas OFFSHORE VESSEL BROKERAGE WITH OFFSHORE EXPERTISE AND DEDICATION P. Schönefeld Managing Partner Seite 1
DISCLAIMER Die enthaltenen Informationen sind allgemeiner Natur und nicht auf die spezielle Situation einer Einzelperson oder einer juristischen Person ausgerichtet. Obwohl wir uns bemühen, zuverlässige und aktuelle Informationen zu liefern, können wir nicht garantieren, dass diese Informationen so zutreffend sind wie zum Zeitpunkt ihres Eingangs oder dass sie auch in Zukunft so zutreffend sein werden. Niemand sollte aufgrund dieser Informationen handeln ohne geeigneten fachlichen Rat und ohne gründliche Analyse der betreffenden Situation. Seite 2
WHO IS GRS GERMAN RENEWABLES SHIPBROKERS Dipl. Wirtsch.-Ing. / Dipl.-Ing Philippe Schönefeld Dipl.-Ing. arch. Nav. Matthias Mroß Professional Experience: Brokerage Commercial Controlling Projectmanagement Business Development Offshore Wind Previous Employers: 2004-2008 / Rickmers Reederei GmbH & Cie. KG 2008-2011 / Rickmers Holding GmbH & Cie. KG Professional Experience: Brokerage Shipbuilding Technical Inspection Operations Crewing Previous Employers: 1998 2002 / Schiffko GmbH 2002 2006 / Rickmers Reederei GmbH & Cie. KG 2006 2008 / Polaris Shipmanagement Ltd. 2008 2011 / Thomas Schulte GmbH & Co. KG GRS is your charter specialist for any kind of vessel suited for offshore renewable energy projects Seite 3
TEAM GRS is currently a team of 12 colleagues with strong shipping and brokerage backgrounds, dedicated to serving your needs! Henning Leverkus Offshore Broker Speciality: CTVs, AHTS, Tugs, Workboats Tim Börner Offshore Broker Speciality: CTVs, Accom. Vessels Jens Guhlke Offshore Broker Speciality: DSV, PSV, AHTS Imke Röll Ulf Galaschik Offshore Broker Speciality: Guard & Survey Vessels Offshore Broker Speciality: Jack-Ups, Cable Laying & Construction Vessel Caspar Blum Offshore Broker Speciality: Equipment & Services, Research Marten Salow Offshore Broker Speciality: Cargo Run Service & Vessels Dominic Bigott S&P Broker All kind of tonnage Sina Ingber Claudia Franz Accounting & Marketing Documentation & Database Seite 4
Vessels for Offshore Renewables Projects a Market Overview Agenda A Tonnage supply for the Installation and O&M phase B Main groups of Vessels for Installation and O&M C Bottlenecks for the logistic Setup and how to solve D The latest Market Rates CTVs, Guard Vessels, Accomodation Vessels PSVs & Subsea Vessels Tugs, Workboats, Pontoons, WTIVs Geir Vinnes Seite 5
Actual overall Tonnage supply for the Installation and O&M phase Ron van de Velde Seite 6
Required vessels for Installation Pontoon Tugs Exemplary visualised for a windfarm with 80 turbines Accommodation Vessel Dive-Support Vessel & ROV Installation vessel Crewtransfer Cable Layer Crane Vessel Monitoring Noise Mitigation Guard Vessel The Installation of a wind farm with 80 turbines requires approximately 20-30 specialized vessels Various vessels for O&M can be used also during installation European neighbours are also installing, so no neighbours help can be expected Installation is more time critical than O&M Seite 7
Required vessels for Operation & Maintenance Mothership Crewtransfer Monitoring Exemplary visualised for a windfarm with 80 turbines Windturbine Maintenance / Windturbine Installation Vessel Cable Maintenance Dive-Support Vessel & ROV, Not all vessels of installation are required for O&M Vessels should be available immediately, especially if damage has to be repaired Number and type of vessels depends of type, size, location of wind farm and on: Calendar-based maintenance Condition-based maintenance Unplanned corrective maintenance Seite 8
Main groups of Vessels for Installation and O&M Wind turbine Installation Crew Transfer Vessel Mothership / Acco. Vessel Installation Installation Installation O&M O&M O&M Swire Blue Ocean A/S Jack Up B.V. Geir Vinnes Tug & Pontoon Noise Mitigation Crane Vessel Installation Installation Installation Ron van de Velde Ron van de Velde Paul Gowen Farzad Bayanati Guard Vessel & Monitoring Dive Support Vessel & ROV Cable Layer Installation Installation Installation Bart Hakze O&M O&M Bart Hakze Ron van de Velde O&M Seite 9
Bottlenecks for the logistic Setup and how to solve Geir Vinnes Seite 10
Offshore Wind, Grid, Oil&Gas > Strong Demand for Tonnage In general, the potential demand for all types of ships is estimated to be vast (in Germany between 5,000 and 7,500 offshore turbines, expansion of the European North Sea grid, tenders for 25,000 MW in the UK s Round 3 etc.) Moreover, German offshore wind projects are installed at remote distances from shore and in deeper water. As a result, shipping tonnage in greater volumes and with more sophisticated technology is required Due to their versatility, vessels can be deployed the world over. Therefore, each and every charterer competes for shipping tonnage globally The ongoing financial crisis makes it difficult for shipping companies to raise debt capital to increase their fleets to the sizes required A thriving oil and gas market will lead to an even bigger exodus from offshore tonnage. The support received to date as well as the moderate charter rates will no longer be available for the offshore wind market Seite 11
Charter, buy or newbuild Charter S&P Newbuild Forecast of demand will bring charter costs in the future up. No availability guarantee. With a low workload per year (< 200 days p.a.) it s the most flexible and suitable acquisition of tonnage. Technical progress is always useable. Own capital resources (30-50%) are bound up for a long term period. Risk of capacity utilisation, operation costs of the vessel, damage and dockings have to be considered. 100% flexibility and availability of ship tonnage with calculable costs. Expansion of Maritime Competences / Services Long term planning with advance financing necessary. Lack of building quality and delayed delivery can endanger the project progress Tonnage fits perfectly to the own demand. Technical progress, e.g. less fuel consumption can be used Seite 12
Managing the risks Charter S&P Newbuild!!! Long term planning for own demand and early chartering of tonnage Commissioning of professional ship brokers > optimised market penetration, securing market compliant charter parties, saving of time and costs through external research Commissioning of professional ship brokers/outsourcing of ship management Optimise vessels capacity utilisation with ship brokers > chartering to third parties High flexibility of the vessel increases potential for chartering out Informed design selection & possible modification for an optimised use Commissioning of professional ship brokers > Qualitative selection of shipyards, negotiation, securing of market compliant building contracts & costs Securing the building quality & delivery with own construction supervision Seite 13
The latest Market Rates Jack Up B.V. Geir Vinnes Seite 14
Min Max CTVs, Guard Vessels, Accomodation Vessels TEUR 35 30 25 20 15 Geir Vinnes 25.000 18.000 30.000 10 5 0 3.500 4.600 4.300 2.600 6.000 CTVs > 20 m Guard Vessels 10 / 15kn Accomodation Vessel < 60 Pax Accomodation Vessel > 60 Pax Germany: demand for Vessels having the Certificate of Equivalence Market currently dried up especially for CTV with 20-25m length Europe: Over supply of unclassed Vessels Germany: High demand for Vessels with Certificate of Equivalence Europe: Sufficient amount of Vessels up to 12 Pax, low for up to 60 Pax Germany: Demand for special purpose Vessels / Passenger Ship licence Vessels Germany: Limited demand, not many vessels available between 60 100 Pax Seite 15
Min Max PSVs & Subsea Vessels TEUR 100 90 80 90.000 40 30 20 10 0 17.000 14.000 10.000 12.000 18.000 30.000 28.000 40.000 38.000 PSV PSV DP 1 PSV DP 2 Subsea DP 2 Subsea DP 2 with AHC Crane Very versatile Spot Market with fluctuations of 100-300% (up/down) Available from Oil&Gas market, vessels located at Aberdeen or Bergen High demand on lower equipped subsea tonnage. High increase of rates this summer season High equipped subsea Vsls even indicated rates in 90.000,- EUR/ day (ROV s, etc) fully booked for summer 2014 Seite 16
Min Max Tugs, Workboats, Pontoons, WTIVs TEUR 200 175 150 125 100 75 50 0 Ron van de Velde 3.500 Tugs / Shoalbusters & Multicats 8.000 9.000 5.500 Ron van de Velde Jack Up B.V. Pontoons / Barges LOA 90m+ 45.000 65.000 WTIV 1st Generation 65.000 100.000 WTIV 2nd Generation Swire Blue Ocean A/S 100.000 175.000 WTIV 3rd Generation Tugs: dayrates vary extremely +/- 100% Multicats: DP0+1 high demand! 90m+ Barges > low availability during summertime Good availability, tonnage to be chartered in min. 1 year before project commencement. Medium availability, tonnage to be chartered in min. 1,5 years before project commencement Medium availability, tonnage to be chartered in min. 2 years before project commencement Seite 17
GERMAN RENEWABLES SHIPBROKERS Management Mr. Philippe Schönefeld Gustav-Mahler-Platz 1 20354 Hamburg Germany Mob.: +49-172 41 68 447 Tel: +49-40-4116068-12 Mail.: p.schoenefeld@german-shipbrokers.de Mr. Matthias Mroß Gustav-Mahler-Platz 1 20354 Hamburg Germany Mob.: +49-172-799 70 79 Tel: +49-40-4116068-11 Mail.: m.mross@german-shipbrokers.de Ron Dobson Head Commercial www.german-shipbrokers.de Head Technical Seite 18