Jaya PSV newbuilds get charters ahead of delivery

JUNE 6, 2013 — Singapore’s Jaya Holdings Limited has signed charter contracts for three of its four newbuild platform supply vessels (PSVs) well ahead of their shipyard delivery dates. The total value of these three contracts is more than US$60 million, including optional extension periods.

The Jaya Group owns and operates more than 25 offshore vessels

Jaya’s first high specification PSV, the 83 m Jaya Valour, will be delivered from Jaya’s Batam, Indonesia, shipyard at the end of next month (July) and has been fixed into a time charter contract for up to three years in South East Asia with an existing customer undertaking fracturing work.

Jaya Valour has more than 1,000 sq.m of clear deck space, fire fighting capability and dynamic positioning to DP-2 class.

The vessel has the capacity to carry up to 4,800 tons of cargo deadweight and her cargo capacities will be utilized in the carriage and pumping of brine and specialized fracturing compounds to stimulate production from offshore oil and gas wells.

The vessel has on board accommodations for up to 60 people that include workout equipment and an internet café.

The 78 m Jaya Victory and Jaya Valiant are medium sized PSVs with 3,500 tons of cargo deadweight. Both vessels have DP-2 capability and Fire Fighting class. They will be delivered from the shipbuilder, China’s Guagzhou Hangtong shipyard, in the first half of 2014  to a new client and are expected to operate primarily in Latin America. The charters are for up to three years.

“The PSV market is strengthening both in Asia and the rest of the world,” says Jaya Holdings CEO, Mr. Venkatraman Sheshashayee. “Both the surge in deep water drilling and the need to stimulate production from older shallow water fields are increasing demand for high specification platform supply vessels. Our newbuilding designs maximize the flexibility our vessels offer to customers, with high cargo capacities for drilling fluids and bulk, big clear decks, and good quality accommodations for charterer personnel. This means they can provide both general platform and rig support, as well as more specialized services such as ROV and coil tubing work scopes.”

“The charters for Jaya Victory and Valiant also mark our foray into the booming Latin American market and are very much in line with our market growth and geographical diversification strategies,” he said.

The fourth vessel in Jaya’s PSV program, Jaya Vigilant, is an identical sister to Jaya Valour, but will have a 50 ton active heave compensated deep water crane built for service in more than 3,000 m of water.

“Jaya Vigilant will deliver from the yard at the end of August and will be ready for service with the brand new crane installed in September,” said Mr. Sheshashayee. “There’s currently a backlog of underwater inspection and repair work in the region, and the vessel is perfect for ROV support. In addition, the ship is well suited to fracturing work like her sister, or for deep water drilling support contracts with DP rigs.”

Jaya has an additional two large anchor handlers delivering from its Singapore shipyard in the next 12 months, and three specialised subsea and accommodation workboats delivering from its Batam yard.