Singapore: Chellsea, one of Singapore’s newer entrants into the offshore support vessel (OSV) scene, is undergoing a period of significant expansion. Part of the Kishinchand Chellaram (KC Group) of shipping companies, Chellsea was set up by Gautam Chellaram two years ago as part of the group’s strategic diversification, with, he says, modestly, “a blank piece of paper”. Said blank piece of paper has since transformed into a fleet on a rapid rise. “Our focus is on building the infrastructure,” says Chellaram.
The Chellarams traditionally have focused on dry bulk via Hong Kong’s KC Maritime, but saw the coming offshore explosion and bought a platform supply vessel in 2011, kicking off new firm Chellsea. A sister ship was added last year. Both ships are “high quality”, stresses Chellaram, and aimed at the North Sea market.
In the last couple of months Chellsea went to a new level, ordering in China four plus four options of Rolls Royce designed, high spec, large accommodation, DP II PSVs with the first to be delivered in early 2015.
“The strategy for Chellsea in ordering these vessels,” says Chellaram, “is to order high spec and build quality vessels, with a focus on winning long-term business. There is no compromise in quality, which is what will win us long-term business with oil majors.”
Chellsea will be marketing the vessels for charters from the middle of next year, and while the Chellsea ceo does see an issue with oversupply, it won't materialise for at least the next few years, and again quality will make the difference, he suggests.
The new vessels will be marketed globally, not just aimed at the North Sea.
Chellaram says that while he may look at other vessels type in the future, at the moment the focus is very much on this new fleet of high-end PSVs. [10/10/13]