Earnings Presentation Third Quarter 2012 CEO Terje Sorensen 25 October 2012
Highlights Third Quarter 2012 Awarded a charter contract for new dual-fuel large platform supply vessel (PSV) for a firm period of four years to Total E&P Norway with four one-year options. Sale and delivery of the MRSV Siem…
Subsequent Events Declared an option with STX OSV Norway for the design and construction of the third and fourth Offshore Subsea Construction Vessels (OSCVs) with scheduled delivery in second quarter 2014. Siem Offshore holds an…
Income Statement Third Quarter Twelve Months Third Quarter January September Ended 2012 2011 2012 2011 2011 Amounts in USD million Unaudited Unaudited Unaudited Unaudited Audited Operating revenue 104.4 93.4 286.2 240.9 340.6…
Comments to Third Quarter Income Statement 100% utilization of the MRSV fleet. All vessels on long-term charters. Sale and delivery of one MRSV in July 2012. 88% utilization of the PSV fleet. No exposure to the North Sea spot…
Operating Margin First Nine Months First nine months 2012 First nine months 2011 Amounts in Operating Operating Operating Operating Operating Operating Operating Operating USD million revenue expenses margin margin % revenue expenses…
Siem Offshore Contractors and Siem WIS Submarine Cable Installation Market Preparations for the Amrumbank West Offshore Wind Farm project well underway. Offshore phase in 1H 2014 Continue to tender for other renewable energy projects…
Financial Position and Cash Flow
Statement of Financial Position 30 September 30 September 31 December Amounts in USD million 2012 2011 2011 Unaudited Unaudited Audited Intangible assets 35.9 34.9 35.7 Vessels under construction 93.7 99.8 105.2 Vessels, equipment and…
Consolidated Statements of Cash Flows 30.09.2012 30.09.2011 31.12.2011 Cash flow from operations Unaudited Unaudited Audited Profit before taxes, excluding interest 51.1 17.4 34.8 Interest paid (28.1) (19.7) (29.1) Depreciation and…
Future Yard Instalments 3Q Amounts in USD million Future Yard Instalments Q4-2012 2013 Total OSCVs 0.0 183.3 183.3 OSRVs 5.7 6.5 12.2 PSVs 64.6 67.4 132.0 Total 70.3 257.3 327.6 Debt facilities Q4-2012 2013 Total OSCVs 0.0 0.0 0.0…
Employment and Deliveries Vessels in Operation and Shipbuilding Contracts
Market Outlook Summary Current and near term North Sea market for AHTS vessels and PSVs: The charter rates in the spot market remained generally weak during the third quarter and for the beginning of fourth quarter, but with a certain…
Global Rig and FPSO Market Global Drilling Market Global FPSO market Under Construction Working * = Ultra Deep Water (UDW) Total UDW Drilling rigs currently working at 115, up from 82 twelve months ago (-12M). Total North Sea…
Global AHTS and PSV Market: Demand flat last six months, expected up again Global Term Demand utilization AHTS 15k bhp Global Term Demand utilization PSV 3,000 dwt currently around 75%. currently at around 87%. Around 93% excluding…
North Sea AHTS and PSV Fleet The number of AHTS 15k bhp in the North Sea Number of PSV 3,000 dwt working in the North Sea has decreased from year end 2011. has increased to around 205 vessels. A larger share of the AHTS 15 bhp…
Demand: North Sea Rigs working (2011 & 2012e) - Rigs returning from yard and new rigs ready to enter +4 rigs +5 rigs +12 rigs The number of semis and drillships working in the The number of Jack-Ups working in the North Sea…
Offshore Construction Vessel (OCV) market Global Fleet ROV/MSV/DSV vessels 120m Global X-mas Tree installations +25-90% The Global Fleet of ROV/MSV/DSV Offshore Global number of X-Mas Tree installations as a Construction…
Loading...
