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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (55260)11/24/1999 3:33:00 PM
From: Aggie  Read Replies (3) of 95453
 
Big Dog and all,

Has anybody heard about one of the Mighty Servant heavy lift vessels sinking off of Indonesia? My information is that the Mighty Servant II, carrying a platform topsides, has hit an uncharted pinnacle and gone down in 115m of water, losing 4 crew members.

There are but a few heavy lift vessels around, and Dockwise pretty much owns all of them. I spoke with Dockwise a few weeks ago and learned that all of their heavy lift vessels are hooked up for the next 6 months, minimum. For MODU's, this represents the quickest and cheapest way to move a rig if the distance is more than about 2000 miles - i.e. moves from 1 market to another, or intercontinental moves. Using these boats, you save about 1/3 - 1/2 of the time required, so if your rig is on dayrate, you save big money.

Has anybody heard about this? It will affect rig mobility in the near-medium term.

Regards to all,

Aggie
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