Deep Sea Supply sends two more PSVs to layup as Brazilian blocking bites

John Fredriksen controlled Deep Sea Supply has released its latest fleet update on Oslo Bors today revealing troubles in Brazil, falling revenues and two more vessels being out of action.

Deep Sea Supply said that for October its 18-strong active PSV fleet was earning around $11,600 gross per day, down from $13,000 last month. AHTS income also dropped from $14,700 in September to just $12,100 in October.

The company said that revenue has been negatively impacted by 4 AHTS vessels and 2 PSVs in Brazil currently being blocked, and so not operating under their existing charter contracts. The vessels are chartered to Petrobras, who are not liable to pay any termination fees should the blocking lead to the vessels being replaced by locally built vessels.

The report also showed that another two PSVs were laid up during October, bringing the total to seven PSVs now in cold layup.

Deep Sea Supply is based in Cyprus, listed on Oslo Børs, and operates 14 anchor handling tug supply vessels and 25 platform supply vessels.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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