Damen’s answer to reduced oil prices lies in conversion support

By Curious

Damen Shipyards Group has developed a committed response to the increasing number of laid up Platform Supply Vessels (PSVs) resulting from the current predicament facing the offshore oil and gas industry. The Dutch company’s solution involves converting idle PSVs into vessels capable of taking on roles in alternative sectors such as aquaculture, shipping and defence.

The situation that the offshore oil and gas industry is experiencing is having serious consequences throughout the sector. Compounding factors include historically low oil prices, halted exploration projects and reduced production. This vicious circle is completed by a substantial drop in support vessel day rates.

Damen has a solution to get these vessels active and profitable once again. “Our design teams have come up with workable ideas across several industries. For example, we can convert a laid up PSV into a profitable Container Feeder or, for naval operations, a Logistic Support Vessel,” informs Damen Sales Manager Remko Hottentot. “The possibilities are numerous. It will also be possible to transform a PSV into an accommodation and O&M vessel”

The ship conversion know-how stems from Damen’s worldwide network of fifteen repair and conversion yards.

“With a strong reputation for engineering, craftsmanship and project management skills, Damen’s conversion teams are highly experienced in giving vessels a new lease of life, while staying on schedule and on budget,” states Mr Hottentott.

One example of an already developed proposal is the Damen Live Fish Carrier 8916 for the aquaculture industry. “Here, the concept of using the existing PSV platform is ideal, yielding many advantages for live fish carrying situations.”

Damen’s answer to reduced oil prices lies in conversion support

In addition to permanent conversion concepts, Damen can also create temporary designs. These can be applied to vessels originally built by Damen or other shipbuilding companies.

Based in Damen’s Stavanger office, Sales Manager Norway Remko Hottentot has witnessed the sight of ports and harbours dotted with laid up PSVs. “We can offer significant design and conversion expertise to owners and operators looking for effective solutions,” he says. “In combination with reliable financing support, this makes up a unique combination of activities that can be translated into realistic conversion packages.”

Source: Damen