AsiaMaritime CEOOffshore

Swire Pacific Offshore: Rebalanced fleet

Singapore: Fast developing Swire Pacific Offshore (SPO) will celebrate having 100 ships by the end of next year. The Singapore-based offshore support vessel operator has a diverse fleet of 85 vessels afloat at the moment, and another 17 on order.
Managing director Neil Glenn tells Maritime CEO how the fleet has changed in recent years to reflect the new demands of energy companies around the world.
SPO’s offshore supply vessel fleet has traditionally been very heavily weighted towards AHTS vessels. However, with the recent developments in the oil and gas industry, such as the trend towards deeper water exploration and the increase in dynamically positioned rigs and drillships, SPO has seen an increase in demand for PSV vessels from its clients.
“To ensure we are aligned with industry developments and are able to meet the needs of our existing clients,” Glenn says, “we have rebalanced our fleet mix to include a greater number of PSVs.” The orderbook reflects this shift with 14 PSVs and just three AHTSs to deliver.
While some OSV sectors are risking overcapacity, Glenn is adamant his fleet is well placed. “The orderbook particularly for PSVs remains very finely balanced,” he says.
SPO has progressively expanded the range of services and provides its clients with a broad product offering. The businesses within the SPO group are able to provide seismic survey support, marine salvage, oil spill preparedness and emergency response, offshore windfarm installation and decommissioning, subsea and ROV services, as well as integrated logistics solutions. Altus Logistics is the latest addition to the group, providing supply base and supply chain management, marine and other oilfield support services and logistical support to the oil and gas industry.
Brazil is one of the key new growth areas for SPO, Glenn says. In addition to operating its larger AHTS vessels, SPO has committed to the construction of four new PSVs to grow its operations and help support the ongoing development of the offshore oil and gas industry in Brazil. [24/03/14]

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