Development of the Commodity AHTS Market and introducing the 'Six Eighty’

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Captain John Meade talks about development of the commodity AHTS market and introduced the “6-80” (6,000 BHP 80T AHTS) design at the Offshore Support Vessel Asia Pacific Conference in Kula Lumpur Malaysia (27-28 February 2013)

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Development of the Commodity AHTS Market and introducing the 'Six Eighty’

  1. 1. 1 Commonwealth Lane #06-21 One Commonwealth Singapore 149544 Tel: +65 6327 4606 (24 Hrs) Fax: +65 6221 4606 Email: mail@m3marine.com.sg Professionals who addTechnical & Commercial Competence www.m3marine.com.sg to your Offshore Marine vessel needs We are the Experts. Ask us! 1 Copyright 2012 – M3 Marine Group, All Rights Reserved
  2. 2. M3 Marine Group PRESENTATION ON THE COMMODITY AHTS MARKETAnd INTRODUCING THE “6-80” (6,000 BHP 80T BP AHTS) OFFSHORE SUPPORT VESSELS ASIA PACIFIC, KUALA LUMPUR27th – 28th February 2013 Capt. John Meade, M3 Marine Group 2
  3. 3. COMMENTARY M3 Marine GroupHISTORICAL COMMENTARYSince 2005 we have seen huge growth in a series of simple Asian designed and built ‘fitfor purpose’ AHTS’s grow into and dominate the markets of South East Asia, the MiddleEast, West Africa and further afield. These designs were led by local Naval Architectdesign houses Khiam Chuan (KCM) and Conan Wu.They were ‘about’ 60m long and 15m beam. They had twin medium speed or highspeed engines totaling circa 5,000 BHP. Latterly CAT 3516 Engines predominated andwith a total horsepower of 5,150 BHP, this ‘commodity’ vessel type became knowncolloquially as the “Fifty One Fifty” (51-50). “SEA GUARDIAN” one of the earlier 5150’s built for GULFMARK by JAYA in China in 2006 3
  4. 4. COMMENTARY M3 Marine Group Incumbent Vessels in the market: 5,150 BHP 65 TBP AHTS Vessel To date, we estimate up to 300 of these units have been built and operate internationally (over 100 from the Fujian South East Shipyard (FSES) yard in Fuzhou alone). The Bollard Pull for these vessels range from 60T through to 69T (and only very occasionally do they reach 70T). 4
  5. 5. COMMENTARY M3 Marine Group Incumbent Vessels in the market: 5,150 BHP 65 TBP AHTS Vessel “DAVID TIDE II” delivered to Tidewater from Chinese yard in 2010 5
  6. 6. COMMENTARY M3 Marine Group Incumbent Vessels in the market: 5,150 BHP 65 TBP AHTS Vessel 2010 built “VOS HECATE” from a series built by VROON OFFSHORE in Fujian South East Shipyard, China 6
  7. 7. COMMENTARY M3 Marine Group Incumbent Vessels in the market: 5,150 BHP 65 TBP AHTS Vessel One of JAYA OFFSHORE’s modern 5150’s the “JAYA ALMIGHTY” 7
  8. 8. COMMENTARY M3 Marine GroupA small selection of these vessels have been built in Singapore and Batam,however these vessels are now almost exclusively being built in China withYards such as Fujian South East, Yuexin, Hangtong and GMG dominating thesector. There are a few still being built in Miri (Sarawak) however Chinapricing and quality impact their ability to be competitive. The “ABLE SENTINEL” a modern DP1 5150 built for SENTINEL MARINE at Fujian South East 2012 8
  9. 9. COMMENTARY M3 Marine GroupThese vessels are very much ‘work horses’ and are being usedextensively for rig and platform supply, jack-up towage, offshoreconstruction support and barge towing duties. “GO ACAMAR” built by OTTO towing a barge laden with a Detachable Turret Mooring (DTM) from Singapore to Australia 9
  10. 10. DESIGN TRENDS FOR THE 5150 M3 Marine Group LOA / BEAM  LOA’s range from 55m up to 63m  Some vessels extended past this (up to 70m)  The commodity 5150 is typically between 58m and 61m with bollard pull in the low to high 60’s (Tonnes). A VROON 5150 “rolls” off the production line at FSES. Standard design assists the production process, improves quality and decreases costs. 10
  11. 11. DESIGN TRENDS FOR THE 5150 M3 Marine GroupDRIVE SIDE THRUST Twin shrouded CPP propulsion  Earlier single 5T to 6T tunnel bow thrusters.  Now twin bow thrusters (to satisfy a long dominates. standing Saudi Aramco specification) with There are examples of ASD, power ratings up to 8T as standard. although rarer due in the main  Stern thrusters became ‘standard’ on the to ‘cost’. Conan Wu variant and were also fitted to some Owners KCM designed vessels (notably Vroon Offshore). 11
  12. 12. DESIGN TRENDS FOR THE 5150 M3 Marine GroupDYNAMIC POSITIONING (DP) Joystick control on all vessels with DP 1 becoming the norm. DP2 has been fitted to a very small number of vessels in this class.CARGO CAPACITY Carry Liquid Mud (Brine), Dry Bulk, Cargo Fuel Oil and Water . Very few are fitted with Oil Recovery even fewer with Methanol. Deck Space is typically 350 m2 Deck capacity is circa 500 Tonnes with 5 to 7.5 T/m2 deck loading. Deadweight circa 1,200 to 1,400 Tonnes. 12
  13. 13. DESIGN TRENDS FOR THE 5150 M3 Marine Group ANCHOR HANDLING, TOW and DECK EQUIPMENT  Simple fit for purpose, high pressure twin drum hydraulic Waterfall Anchor Handling and Towing Winch Systems.  2 x 8 to 10 Tonne SWL Tuggers  Twin Capstans aft.  Shark Jaws and Tow pins  Stern Rollers are fitted as standard.  3 to 5T deck crane  We have witnessed a trend to have the vessels classed with AH (Anchor Handling) notation rather than the earlier Offshore Support Vessel notation, important as Petronas, for example, now mandate this.  Meeting AH notation often requires a ‘beefing’ up of scantlings aft and around the stern roller. At the design and build phase, we feel this nominal extra cost is well justified. 13
  14. 14. DESIGN TRENDS FOR THE 5150 M3 Marine Group OTHERS  Classed FiFi 1 is fitted as standard  Accommodation capacity is typically 35 to 42 persons.  Non SPS compliant (only now do we see the first 5150’s being built with SPS)  Single FRC  Oil Dispersant booms and tankage are fitted as standard but typically not Oil Recovery. 14
  15. 15. CHART 1: HISTORICAL EARNINGS AND VALUATIONS 5150 M3 Marine Group 15
  16. 16. HISTORICAL EARNINGS AND VALUATIONS 5150 M3 Marine Group As you can see, values in the sector have ‘stayed up’ but have plateaued over the last 2 years however we would note that the vessels sold latterly may have premium spec (twin 8T thrusters and DP1) and were therefore more expensive to build. The DCR’s have bounced back from their lowest levels about a year ago. Vessel owners who were highly leveraged when the DCR was at its lowest were hurting. Established owners were still able to make a small profit and easily rode out this brief storm. 16
  17. 17. CHART 2: 5150 CURRENT VALUATIONS ACCORDING TO AGE OF VESSEL M3 Marine Group There is a sharp drop off in value as the vessels come up to their first special survey. The value remains steady through the next 5 year cycle with less of a fall. 17
  18. 18. THE FUTURE TREND – WILL THIS FORCE A BLANKET DESIGN CHANGE ACROSSTHIS COMMODITY VESSEL TYPE? (YES… WE THINK SO). M3 Marine Group Whilst the demand for these ‘fit for purpose’ and inexpensive AHTS’s remains high, it is M3 Marine’s opinion that the market is in need of a revitalized vessel model to replace the existing “5150” commodity vessel type. We are not alone in this assertion, as we note a significant round of new build orders in the slightly higher horsepower and higher specification vessel bracket. 18
  19. 19. THE FUTURE TREND – WILL THIS FORCE A BLANKET DESIGN CHANGE ACROSSTHIS COMMODITY VESSEL TYPE? (YES… WE THINK SO). M3 Marine Group What is driving this? 19
  20. 20. THE FUTURE TREND – WILL THIS FORCE A BLANKET DESIGN CHANGE ACROSSTHIS COMMODITY VESSEL TYPE? (YES… WE THINK SO). M3 Marine Group We see a client driven demand for higher specification in specific areas, particularly; Bollard Pull – 65 TBP frankly does not cut it anymore. Clients need 70 TBP+ to support ever larger construction barges and jack-up rig Marine Warranty requirements. We feel aiming for 80 TBP within a certain price bracket will future proof acceptance of the new commodity vessel for many years to come. Deadweight – Due to their versatility and low day-rate compared to small PSV’s, these commodity vessels often win contracts as SSV’s, especially in Malaysia and Indonesia. As fields develop further out to sea, the supply function demanding bigger deck space and increased deadweight becomes more and more important. 20
  21. 21. THE FUTURE TREND – WILL THIS FORCE A BLANKET DESIGN CHANGE ACROSSTHIS COMMODITY VESSEL TYPE? (YES… WE THINK SO). M3 Marine Group Dynamic Positioning. End users are now used to DP1 and are becoming more and more exposed to vessels with DP2. Rightly or wrongly, their perception is that DP2 is safer and are demanding such capability on vessels that interact with their facilities. DP2 coupled with extra deck space and enhanced accommodation opens opportunities for simple ROV support roles. 21
  22. 22. THE FUTURE TREND – WILL THIS FORCE A BLANKET DESIGN CHANGE ACROSSTHIS COMMODITY VESSEL TYPE? (YES… WE THINK SO). M3 Marine Group SPS – more than just a buzz word, SPS is now a minimum requirement for vessels capable of operating with Special Persons in regions such as India and Australia. This requirement will (and is) spreading internationally. In short, if you are carrying more than 12 persons in addition to the crew (regularly) SPS is a must and at the design stage has little cost impact. Oil Recovery. This has not typically been fitted to vessels of the commodity type. 22
  23. 23. THE DESIGNS M3 Marine Group We see several designs emerging in the market which meet the trend towards the higher specification and satisfies the above improvements. These vessels are circa 6,000 BHP total and are designed to pull 80 TBP. We are tagging this vessel type as the “Six Eighty” The first raft of 6-80 orders predominately designed by KCM are framed around an existing 60.5m hull form and we feel it is almost tailored exclusively for Saudi Aramco. We see a lot of technology ‘squeezed’ into this small hull form here. Building to order is fine and if you can satisfy the client for the life of the vessel, you are on to a winner, however, our feed back from our client base leads us to believe that the market needs to move away from building boats against single clients requirements and to innovate in order to service the market as a whole. Especially when a single clients ‘approved spec’ can change in a heartbeat (Aramco). 23
  24. 24. THE DESIGNS M3 Marine GroupThe KCM “SIX EIGHTY” 24
  25. 25. THE DESIGNS M3 Marine Group End of the line? We note that the first series of these 6-80’s utilize the existing CAT 3516 Main Engines re-geared and re- rated to 6,000 BHP by increasing the Revs to 1,800 RPM. This is effectively running the engines on the ‘blood’ and we predict that there will be no-where else to go for this engine class in this commodity vessel market. 25
  26. 26. THE DESIGNS M3 Marine GroupOne design that has captured our attention is a bottom up design from SE Asiandesign house Focal Marine. This version of the Six Eighty features improvementsand additional features across the board as can be appreciated against the belowside by side table of comparisons to the incumbent “Commodity” vessel the 5150.The Focal Marine “SIX EIGHTY” 26
  27. 27. THE DESIGNS M3 Marine Group Standard KCM 59.25m “5150” AHTS Focal Marine “Six Eighty Five” AHTSLOA / Beam: 59.25 x 14.95 m 65.00 x 16.00 mCriteria 1,340 tonnes 1,650 tonnesClear Deck: 330 m2 435 m2Bollard Pull: 65 tonnes 80+ tonnesDP: DP 1 DP 2FiFi: FiFi 1 FiFi 1Pax / SPS: 42 persons / Nil SPS 50 persons / SPS CompliantOil Recovery: Nil Oil Recovery Class 1Haz Materials Nil Compliant 27
  28. 28. THE DESIGNS M3 Marine GroupA non-Commodity and enhanced 6-80To appreciate what we mean by commodity vessel, we can compare the 6-80 we are discussingwith the enhanced version offered by BOURBON OFFSHORE.Their high spec LIBERTY class, built by Sinopacific Shipyard in China formed part of a massiveorder for the French OSV player and features a Diesel Electric power plant and 3 x AzimuthThrusters aft for propulsion and positioning. Significantly more expensive to build, these vessels have performed well in one of BOURBON’s key markets (West Africa) but struggle to realise the required day rates (versus cost) in the Asia region (where they fight head to head with much cheaper vessels). The ‘day rate is king’ End Users are generally not motivated to realise the benefits that D/E power can offer in fuel savings. This may yet change in, say, Australia (carbon tax) and against very long term contracts. 28
  29. 29. PRICING M3 Marine GroupFor a vessel to effectively the 5150 from its “commodity mantle”, build cost for thishigher spec vessel becomes the key issue.From the earlier chart, we see that if you were to order a DP1 “5150” from a yard inChina today, you would pay between USD $10 and USD $11M depending onspecification. Current resale prices are between USD $11.5M and USD $12.5M.For the Six Eighty, we have seen ordering costs in the $11.5 to $12.5M range… againdependent on final specification.At the higher price range, high speed engines are replaced with medium speedengine packages. Medium Speed engines will ensure less wear and tear, standardgearing, more reliability, higher torque and less maintenance. Typical makers ofthese Medium Speed engines are Niigata, MAN, Yanmar and Wartsila.We predict that this first raft of 6-80’s will resell, ex yard for between USD $13.5Mand USD $14.5M with a price trend upwards. 29
  30. 30. CHARTER RATE POTENTIAL M3 Marine GroupWe feel (as of today) time charter day rates for such a vesselconservatively be in the region of USD $10,500 to USD $11,500 per daywith forecasts for this to rise over USD $12,000.Building a vessel on spec for a potential long term bareboat should netyou a DCR of USD $6,000 to USD $7,000 per day for 3 to 5 years (again,this is a somewhat conservative view).This compares with rates today for a standard 5150 of; USD $8,500 – USD $9,500 per day for TC USD $5,000 – USD $6,000 per day for BBWe therefore see ROCI as healthy and more importantly, the vessel is‘future proofed’ well into the next decade. 30
  31. 31. CONCLUSION M3 Marine Group“It is our opinion that the future of the standard commodity 5150 AHTS is nowshowing some signs of limitation.The vessels in circulation and the few remaining on order will serve the marketwell, however the future is demanding vessels of bigger, better and more complexspecification.Raw speculative building has more or less finished and Owners are showing a lotmore due diligence and exercising a lot more care prior to placing multiple orders.Pricing is key and we feel that the work done to secure a new build price in themid $11’M’s to $12’M’s (depending on spec) will ensure ROCI similar to orexceeding the returns enjoyed by owners presently working the commodity vesselmarket.”John MeadeCOOM3 Marine Group Pte Ltd 31
  32. 32. M3 Marine GroupCompany Overview Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs ABOUT M3 MARINE GROUP OF COMPANIES  M3 Marine was established in 2005 by Capt. Mike Meade  We pride ourselves as one of Asia’s largest independent offshore ship broking and marine consultancy groups – possessing the necessary qualities and capabilities to meet the growing local and international demand for specialized offshore marine services 2005 2006 2007 2008 2009 2010 2011 2012 Exciting times ahead! Established M3OB M3ME Singapore SME Singapore SME 1000 1000 ISO 9001:2008 M3 Marine Group, one of Asia’s largest independent OCIMF OVID and leading offshore ship brokerage and marine consultancy groups, have, despite the tough market conditions in 2011, ended the year on a high note.  M3 Marine (Offshore Brokers) was incorporated in 2008 Riding on the back of having a clear understanding of  M3 Marine Expertise was incorporated in 2010 the standards required by the end user and employing top quality professionals with high level operational  M3 Marine Group achieved Singapore SME 1000 status in 2011 experience, we have built ourselves a solid reputation known for our prompt, quality and ‘added value’ service  M3 Marine Group were again awarded Singapore SME 1000 status in 2012 which differentiates us from our peers. As featured in Singapore’s Business Times SME  Latest Developments: Magazine. Q1 2012  M3 Marine Group are ISO 9001:2008 accredited  M3 Marine Group are OCIMF OVID accreditedM3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  33. 33. M3 Marine GroupCompany Overview Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs The M3 Marine Group provides offshore ship broking and a comprehensive range of technical and commercial consultancy services tailored to meet the needs of the Offshore Marine, Oil & Gas Industry. With extensive, real and valuable, multi- faceted, industry experience and ‘up to the minute’ expert offshore knowledge, M3 Marine “adds value” where it matters. The Group has a team of dedicated brokers who each hold ‘real’ industry background and a team of experienced project engineers, experts in their respective fields. It is further underpinned by a network of associates and contacts and a non-exclusive pool of mariners, chief engineers, offshore engineers and industry professionals. M3 MARINE GROUP CORPORATE STRUCTURE M3 Marine Group M3 Marine Expertise M3 Marine Offshore Brokers Provides technical & Provides offshore ship broking commercial / corporate services (time & bareboat charters, consultancy services sales & purchase, new building)M3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  34. 34. M3 Marine GroupCompany Overview Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs M3 MARINE GROUP’S PRESENCE IN PROFESSIONAL AFFILIATIONS INTERNATIONAL PUBLICATIONS M3 Marine’s COO, Captain John Meade, is the Group’s lead for Sale and Purchase on the The Group’s founder and CEO, Captain Mike brokerage team and brings a wealth of Meade (MNI), is a trusted and respected knowledge and acquired skills across a wide contributor to the commercial needs of the range of marine disciplines. Having held offshore marine industry, with a slant towards senior roles in Marine Warranty, Pilotage, the subsea network, both locally and globally Towage and Port Operations, John provides and is Asia Pacific’s Representation on the additional depth to the Group’s consultancy IMCA Marine Division Management arm M3 Marine Expertise and provides expert Committee. Mike previously held senior and valued opinion to the Industry. John is positions within the Swire Group and Seacor also a key member of M3 Marine’s vessel Marine Int. and has over 30 yrs of valuable valuation panel and whilst working extensively commercial and operational experience. on S&P and charter requirements worldwide, he maintains a particular focus on Australia.M3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  35. 35. M3 Marine Offshore BrokersIntroduction Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs M3 Marine Offshore Brokers (M3OB) are one of Asia’s largest independent offshore ship brokerage houses, incorporated in 2008 as a subsidiary company of the M3 Marine Group, situated in the ‘hub’ of marine activity and...  sourcing a comprehensive spread of offshore support vessels to meet your chartering and /or purchasing requirements  facilitating and ‘adding value’ to your prospective transactions  providing assistance in contract drafting translating into both time and cost savings  ‘staying with you’ throughout the duration of the charter / sale / purchase / newbuilding process and maintain our commitment to facilitating the relationship between the parties and our client’s objectives  using BIMCOs IDEA, an internet-based charter party editing system, which protects the underlying text of edited documents so that both parties will always know exactly what amendments have been made to the standard wording;  playing a proactive role in ensuring ‘FAIR’ (IMCA) contracting principles are adhered to  having direct access to a vast network of offshore vessel owners, operators, financial institutions, shipyards, keen buyers and sellers  offering REALISTIC RATE GUIDANCE  having an excellent track record of satisfied clients and, as such, benefitting from a loyal customer base Our brokers are constantly interfacing with the market and gathering invaluable ‘market intelligence’ in this process. Our data are live, updated daily to bring across first hand information to our clients and potential clients.M3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  36. 36. M3 Marine Offshore BrokersServices Overview Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs M3 Marine Offshore Brokers (M3OB) possess the commercial and technical knowledge and attributes to offer our valued Clients a spread of brokerage services for Newbuilding, Sales & Purchase and Chartering. This page provides an overview of the Services offered by M3OB: CHARTERING (TIME & BAREBOAT) NEWBUILDING SALE & PURCHASE  M3OB is well-versed in all manner of  M3OB is actively involved in the  M3OB forges strong business time, bareboat & towage contracts entire newbuilding process – from relations with offshore vessel the conceptualization of the vessel owners, financial institutions &  Types of vessels M3OB brokers: through to its delivery numerous shipyards, thus we are  AHT / AHTS / PSV always in the ‘loop’ of keen buyers  DSV / ROVSV  This process includes: & sellers  Barges  vessel design  Crew Boats / Fast Supply Boats  vessel specification  We are well-versed with the  Tugs (Harbour & Ocean going)  pre-qualification of shipyard market conditions and dynamics of  Compact Semi Submersible  bidding the S&P sector to match the right  Construction Support Vessels  shipyard selection vessel to suit the job for the buyer  LCT  contract negotiation without compromising the quality  Safety Standby Vessels  commercial closing of the vessel being brokered  Heavy Lift Vessels  vessel delivery  Jackup Barges / Liftboats  Survey / Utility Vessels  Workboats / WorkbargesM3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  37. 37. M3 Marine ExpertiseIntroduction Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs  M3 Marine Expertise (M3ME), a subsidiary of M3 Marine Group, was newly incorporated in early 2010 to focus on providing first class technical and commercial / corporate consultancy services which meet the needs of the Offshore Marine, Oil and Gas industry.  We are a young and dynamic company with an excellent track record of delivering high quality technical and commercial analysis, assessments and reports and have earned ourselves a growing pool of satisfied and repeat customers.  We are supported by a team of dedicated in-house projects engineers, led by our esteemed Managing Director, Joey Fisher, and further backed by a network of associates, contacts and a non-exclusive pool of mariners, chief engineers, offshore engineers and industry professionals. Joey Fisher is a versatile and self motivated Class 1 Marine Engineer with a wealth of “Our clients value our astute commercial technical, operational and management and operational acumen, up to date market experience in the Marine, Subsea and knowledge and other synergies that we Offshore sectors, solution and results draw upon within the Group network of orientated with solid communication, report in-house technical and brokerage services. writing and organisational skills. With a Through sharing of resources, assets and keen eye for detail and a passion for doing abilities, we strengthen and bolster the things right the first time. Joey heads up our quality, depth and breadth of our services team of dedicated project engineers who and our reserve of expertise, providing the are based in Singapore and provide a wide Joey Fisher, (IEng IMarEng technical assurance, adaptability and range of technical consultancy services. MIMarEST), Class 1 C/E and flexibility, as is required by our clients, over MD of M3ME Capt. Mike Meade, the course of a project.” Group CEOM3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  38. 38. M3 Marine ExpertiseServices Overview Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs This page provides an overview of the Services offered by M3 Marine Expertise: COMMERCIAL TECHNICAL  ASSET VALUATION  AUDITS, SURVEYS & INSPECTIONS  Valuation of Offshore Assets (OSVs, DSVs,  IMCA CMID & Diving System Audits, OCIMF Barges, Tugs & Oil Rigs) OVID Audits, Pre-purchase condition surveys  MARKET STUDY  PROJECTS  Market Study / Research for Offshore Oil  DP & Diving Systems Consultancy (including & Gas and OSV Markets Annual Trials & FMEA Authoring)  DSV Services  COMMERCIAL & CORPORATE CONSULTANCY  Wind Farm Installation Consultancy  Merger & Acquisition, Corporate /  Newbuild and Conversion Supervision Commercial Due Diligence  Project Management EXPERT WITNESS / PLACEMENT MARINE WARRANTY  EXPERT WITNESS M3ME offers marine warranty services and related  Legal & insurance claims support expertise through our European arm led by Capt. John Carroll:  SPECIALIST RECRUITMENT  MARINE WARRANTY SURVEYS  Placement for high level positions  MARINE REPRESENTATION  RISK MGMT & RISK ASSESSMENT  EXPERT PLACEMENT  SALVAGE & WRECK  Placement of Specialist Marine Personnel  CONDITION SURVEYS & P&I REPORTING i.e. Masters, DPOs, Chief Engineers etc.M3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  39. 39. Key Customers Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needsM3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.
  40. 40. Enquiries Professionals who add Technical & Commercial Competence to your Offshore Marine vessel needs FOR MORE INFORMATION ON OUR SERVICE OFFERINGS:  M3 Marine (Offshore Brokers) Email: mail@m3marine.com.sg Tel: +65 6327 4606 (24 Hrs) Fax: +65 6221 4606 Contact Persons: Capt. Mike Meade, Managing Director - mike@m3marine.com.sg Capt. John Meade, Head of S&P - john@m3marine.com.sg  M3 Marine Expertise Email: expert@m3marine.com.sg Tel: +65 6327 4606 (24 Hrs) Fax: +65 6221 4606 Contact Persons: Ms. Wei Ling, Low, Marketing & Business Development Manager - weiling@m3marine.com.sg Ms. Angeline Chng, Commercial Manager - angeline@m3marine.com.sg Mr. Joey Fisher, Managing Director - joey@m3marine.com.sg M3 Marine Group website: www.m3marine.com.sgM3Marine Expertise Pte Ltd LTDM3 MARINE GROUP PTEADDRESS 1 Commonwealth Lane, #06-21, ONE Commonwealth, Singapore 149544 T46066327 4606 M mail@m3marine.com.sg W www.m3marine.com.sg15 Jalan Kilang Barat #06-03 Frontech Centre Singapore 159357 t: +65 6327 +65 m: expert@m3marine.com.sg w: www.m3marine.com.sg All rights reserved. All rights reserved.

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