Page 30 - Seafood, Fishing & Aquaculture 2017-2018

new ventures in well boats

Seafood company Marine Harvest is diversifying into the well boat business.
Even oil service vessel owners are hoping to capitalize on the recent seafood boom.

By Valeria Criscione

The global well boat market currently consists represents an interesting opportunity to That could offer hope for the struggling
of about 125 vessels, with Norway as the reduce cost and at the same time improve offshore sector. Salmon prices have reached
largest market followed by Chile. The sector biology for Marine Harvest.” historic highs. Meanwhile oil prices are in
has been experiencing a period of rapid a slump and there are about 96 offshore
growth – with 16 new orders expected to be The fi rst vessel, a NOK 227 million vessels laid up without contracts. The majority
delivered in 2016-2017 – as demand for new multipurpose well boat, will be delivered in the of those, about 56, are oil service platform
and large vessels grows. third quarter of 2017 for use on its Canadian supply vessels (PSV) that potentially could be
farming operations. The other, a NOK 179 converted to well boats.
Vessel use in salmon farming systems has million harvest vessel, will be ready by the
been increasing due to increased smolt fi rst quarter of 2018. The vessel will be able Norwegian shipyard Havyard has investigated
transportation, sea lice, grading of fi sh, to kill and transport approximately 40,000 the possibility and proposed offering rebuilds
freshwater treatments and harvesting, GWT annually. The joint venture is planning to of its PSVs into well boats. According to Trygve
according to Alf-Helge Aarskog, Marine utilize the harvest vessel in Marine Harvest’s Solaas, Havyard vice president projects within
Harvest chief executive. In addition, the Norwegian farming operations. sales, conversion and repair, it would cost
aquaculture shipping market is currently about NOK 100 million to convert a 2,000
fragmented and dominated by mainly family- Convert Oil Service Vessels cubic meter PSV in about four months’ time
owned shipping companies in Norway. Norwegian ship owners are also looking to into a live fi sh carrier. That could compete
capitalize on the tight market for well boats with the 5-6 months’ average outfi tting time
“We see signifi cant scope for integration in this and secure better profi ts. A recent survey by for a new hull – partly because of all the other
area of our operations,” said Aarskog. iLaks.no showed more than 40% earnings machinery that also needs be added.
(before interest and tax) margin on well boats
Aquaculture Shipping by some of the bigger companies such as “This could be used in Scotland and Chile, but
Joint Venture Rostein and Sølvtrans, as well as Bømlo we thought at fi rst it would be appropriate for
This was the backdrop for Norway’s Marine Brønnbåtservice and Seivåg Shipping. the big problems with unemployed tonnage
Harvest establishing a joint venture this
year with Deep Sea Supply called DEES
Aquaculture Shipping. The new company
will manage a new fl eet of well boats, harvest
boats, feed vessels and service vessels that
will both help streamline production and cut
costs associated with the area. The 50:50 joint
venture will also be able to secure attractive
fi nancing with its long-term charters and
strong shareholder base, as well as compete
for external contracts.

“I am pleased that the aquaculture shipping
joint venture has contracted two new orders:
one well boat and one harvest vessel,” said
Aarskog, in connection with the presentation
of second quarter results this August. “This

Farstad installed delousing technology onboard
PSV Far Server to service salmon farms.
© Farstad

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