Singapore: Dubai offshore specialiast Marine Assets Corporation (MAC) is looking to order a further three compact semi-submersible accommodation vessels (CSSs) in the coming six months. Speaking to SeaShip News for this site’s regular Friday ceo interview, MAC’s ceo Robin Reeves explained the business rationale behind his three-year-old firm. “The MAC business model,” Reeves said, “is to be a provider of offshore specialist tonnage. We aim to build speculatively and try to understand what the market will need two years ahead. This has proven to be very accurate with our investment into the accommodation market three years ago.”
MAC and its associates for whom it carries out supervisiion and marketing duties currently have a total of two CSSs and 17 OSVs, consisting of small, medium and large PSVs plus an AHTS under construction for delivery in the next 18 months.
“Expectations are to order another three CSS vessels in the coming six months,” Reeves revealed.
MAC maintains that CSSs are an economical alternative to large accommodation vessels and traditional jack up barges.
The offshore boss was honest in his OSV market assessments. “Unfortunately, we see the PSV market as becoming saturated,” Reeves said, adding: “Five years ago everybody wanted AHTSs and PSVs were in minimal demand, but with exploration now moving into deeper water, the trend has moved to large PSVs and there is a risk of oversupply in the coming two years.”
MAC is the result of the spinoff company formed after the sale of Minnow Marine Projects LTD (MMPL) in December 2009. [21/12/12]