Day, Robert

Day, Robert

Robert Day is VesselsValue’s Head of Offshore.

What Goes Around Comes Around - Sale of Ex-Sanko Energy Firming AHTS Values

Apr 25, 2022

Those who are old enough (or young enough) to remember Justin Timberlake’s poignant lyrics, ‘What goes around, goes around, goes around, comes all the way back around’, will appreciate their significance and relatability to the offshore oil and gas market…

Consolidation is King – Tidewater and Swire Pacific Offshore

Mar 18, 2022

Tongues are wagging in the offshore sector, as one of the longest-running rumors in the market has finally come true. U.S. offshore vessel owner Tidewater Marine has acquired Singapore's Swire Pacific Offshore for USD 190 million, the company’s…

Kim Heng Shows Us How It’s Done...Again

Aug 24, 2020

Building a versatile OSV fleet is expensive, even more expensive when your timing is wrong. Buy at the top and you can quickly find yourself exposed if the market suddenly turns, those shiny new assets depreciate rapidly, and large debts, that the (new) poor market cannot service…

MODU Owners Bite the Bullet

Jun 15, 2020

Just as we were beginning to see light at the end of the tunnel, COVID-19 in the space of three months decimated the offshore industry and sent it spiraling into a double downturn. Oil majors have been forced to cut CAPEX (table 1) with E&P spending reduced significantly…

VesselsValue Takes a Deeper Look at Norway's OSVs

May 08, 2020

In last month’s column, I focused on how the Covid-19 situation had affected various offshore operating regions around the globe. In this article, we shall focus on Europe, with attention paid to Norway and Solstad Offshore’s recently announced financial restructuring…

The Year 2020 Will be a Large Stress Test for the Offshore Industry

Apr 20, 2020

As the offshore market entered 2020, many within the industry had an optimistic outlook for the future and the consensus was ‘the worst is behind us’. However, nobody could have foreseen the events that would unfold in Q1 2020 and the impact…

Fair Winds and Following Offshore Work in Asia

Mar 16, 2020

Climate change has been a hot topic over the last few years, with tighter environmental regulations being introduced.Large multinational companies are under increasing pressure to reduce their carbon footprint and transition to cleaner energy solutions…

OSVs Finding Life Outside of Oil and Gas

Feb 14, 2020

Offshore vessels were designed and built to support the offshore oil and gas industry. Whether that’s platform supply vessels (PSVs) supplying offshore installations, anchor handlers (AHT/AHTS) moving mobile offshore drilling units (MODUs) and other offshore structures…

The Middle East in Focus

Nov 10, 2019

The Middle East, a region heavily reliant on oil and gas income, has certainly felt the strain of the offshore downturn. Cutbacks in exploration and production spending hit the region hard and this quickly filtered down into the supply vessel sector…

The Lion City Ready to Roar Again

Oct 21, 2019

When the offshore downturn hit, no operating region was spared. Southeast Asia, once the offshore poster child, found itself falling from grace, and hard. What followed was series of liquidations, bankruptcies, court protection and government intervention…

What Became of the Toisa OSV Fleet?

Sep 16, 2019

Last month we discussed the Toisa OCV fleet, and this week we shall focus on the offshore supply vessels (OSV). Within the Toisa fleet, OSVs made up circa 73% of the overall fleet size and generated more than $40 million during a two-year sell off…

What Became of the Toisa OCV Fleet?

Aug 13, 2019

In July 2017, with overall debts totaling about $1 billion, Gregory Callimanopulus led Toisa Ltd was forced into selling off its entire fleet. What followed was one of the largest and most systematic selloffs in offshore history, and for the…

Canadian OSV Owners Making Well-timed Buys

Aug 09, 2019

Canada has a well-established offshore history within the oil and gas sector, with the first offshore exploration carried out by Mobil in the Stable Island region in 1959. Today, the major areas of activity are within the Jeanne d’Arc Basin…

Activity Picking Up Offshore Guyana

Jul 14, 2019

Guyana, located on the northern mainland of South America and nestled between Venezuela and Suriname, has become one of the most exciting regions within the oil and gas industry over the last few years. ExxonMobil has invested heavily in the…

Harvey Gulf Scouting Merger Opportunities

Jun 16, 2019

In both 2018 and the start of 2019, Harvey Gulf made no secret that they were exploring possible merger and acquisition opportunities. Their first major play was a merger proposal with fellow US owner GulfMark, who at the time was in discussions to merge with US OSV behemoth Tidewater…

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