Offshore cable-solutions provider OceanTeam has signed an agreement with an unnamed major cable manufacturer to provide cable transportation capability using a cable transportation and handling barge specially equipped for these tasks.
OceanTeam said the work would begin in April 2020 with completion in the first quarter of 2021 and optional extensions to take the contract well into 2021.
According to the company, its multipurpose barge is suitable for both river scenarios and sea transportation.
The cable handling spread is designed to offer storage of 2,500Te of cable, loading and offloading both in tandem and side-by-side configuration, and cable transfers between two vessels.
Project management, engineering and mobilization of the barge, carousel, loading tower, tensioners, and other deck spread equipment will be provided by Oceanteam and all operations take place at Oceanteam’s base in Velsen, The Netherlands.
In a separate statement this week, the company provided its take on 2019, and what it expects ahead in 2020.
The company, which provides services to offshore oil and gas and wind industries, said the year behind had been a challenging one for both its shipping and solutions divisions but due to the cost cuts and sale of "non contributing" activities, the company returned to profit in 2019.
In the Shipping division, both vessels were under contract during 2019, with average utilization of 90%.
The Solutions division faced lower activity levels throughout the offshore wind industry caused by cyclical permitting of new offshore wind farms by the respective governments, OceanTeam said,
"Success in 2020 will be driven by the successful execution of the planned class-related maintenance programs for both vessels and winning new charters straight thereafter," the company said.
OceanTeam said it was in detailed negotiations for both vessels with existing and new clients to win new charters both in the oil & gas space as well in offshore wind, and both long-term and short-term contracts.
"2020 has started well for our Solutions business and we expect this trend to continue for the remainder of the year. Given the tough market circumstances as a result of the outbreak of the coronavirus and the low oil prices, maintaining liquidity will have our highest priority," it said.
Keesjan Cordia, Chairman of the Board of Oceanteam ASA, says: "2019 was a year of consolidation after a turbulent 2018. Our biggest achievements were winning new projects resulting in high utilization of both our vessels against fair charter rates. In 2020, this will be again our biggest challenge."
"With respect to our Solutions business, the main opportunities will occur in the renewable industry with numerous projects starting. Oceanteam Solutions is well equipped and positioned and has the advantage of having vessels in Oceanteam Shipping that can perform services in both oil & gas as well as offshore wind industry.”
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