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4th Offshore Support Vessel Conclave

2016
29th January 2016
Hilton Hotel, Mumbai, India

Theme:
Generate opportunities in challenges

Conference
REPORT
Offshore Support Vessel Conference (OSVC) 2016, saw a groundbreaking gathering
of more than 120 prominent industry professionals, thought leaders, researchers
and policymakers from at least 5 countries energizing a movement to work towards
innovation & collaboration within the industry around the globe. Held January 29,
OSVC consisted of a full day power packed program having key sessions addressed by
world class industry experts and government officials that gave the delegates the
opportunity to hear well researched technical presentations & policy updates.
4th Offshore Support Vessel Conclave

2016

Major stakeholders of the offshore support vessel industry gathered at the OSVC 2016
to deliberate on the most pressing concern for the operating companies how to survive
in this low oil price regime. OSVC is one of the leading platform for discussion and debate
amongst industry leaders across the spectrum of the offshore marine industries.

The conference Chairman & Director As the oil prices hover around US$ 30
(T&OS) SCI Capt. K Devdas during his to US $ 40 per barrel, the E&P
welcome speech said that over the Companies are expected to imple-
years, the offshore support vessel ment spending cuts on their new
segment of shipping has been a explorations. The world E&P spend-
steady performer in comparison to the ing is projected to fall by 17%
other shipping segment like bulk, year–on–year during year 2016 & the
tanker, liner etc which are facing a charter rates have come under
steep downturn due to global eco- pressure. The offshore market in India
nomic meltdown. Offshore segment will be competitive & availability and
Capt. K. Devdas
especially the domestic trade in India retention of trained manpower in
Conference Chairman
has largely remained unaffected and offshore sector will be a challenge he
& Director,(T&OS) SCI
steady due to the E&P operations said.
being carried out in country.
Showing the brighter side of the
He said that the theme selected for the industry during his presentation Capt.
Offshore Conclave 2016 “Innovations Devdas said that ONGC which is the
& Opportunities in Challenging largest E&P Company in India is
Market” is topical. This conclave will expected to go ahead with its planned
provide an opportunity to discuss and E&P activities. The new development
understand from the industry stal- like notification of new offshore wind
warts the ways and means to over- energy policy by Indian Government
come the challenges, which can be will create demand for offshore
made possible by new innovative vessels in India. He said that the focus
concept and by focusing on niche by vessel owners shall be on acquir-
opportunities within the offshore ing vessels which can perform multi-
segment. The Offshore Conclave purpose roles like a PSV which can be
provides a bird's eye view on various converted into a Well Stimulation
innovative concepts and opportuni- vessel.
ties for overcoming the futuristic
challenges in offshore industry he He concluded by saying that the
told. offshore operators should focus on
improving their operational efficien-
Citing the challenges facing the cies by innovative solutions like
industry he said that during the year adopting new fuel efficient propulsion
2015 the world witnessed the biggest systems, hull designs and under
slump in the oil prices and the trend is water hull paints & usage of alternate
projected to continue in the year 2016. fuels like LNG for vessel operations.
4th Offshore Support Vessel Conclave

2016

Torbjørn Holthe, Norwegian Consulate


General, spoke about the significance
Norway has in India's shipping and
offshore businesses. With the
Norwegian Consulate reopening in Chief Guest of the function A K Gupta, MD, India Ports
Mumbai this year, talks are on to Global Pvt. Ltd. said that challenges are greater than the
enhance bilateral relations between the opportunities & we need to generate opportunities in
two countries to push innovation, those challenges.
technology and tourism. He also He told that the bigger picture is, the depressed global
confirmed that India is one market where economic scenario & recession has paralysed several
you should expect Norway to continue to economies, especially the Global GDP growth which is
increase its investments significantly 2.7%. He said that we all are proud to be Indians as things
over time. are going the Indian way & gives all of us immense
“Norway has already invested 8.5bn pleasure in claiming that despite global economic
USD in India. The offshore market in slowdown, our GDP growth is over 7%. India is
India is important for the Norwegian undoubtedly the prominent emerging economy, enjoying
market as well. This enhanced bilateral global attention. The Government is working with a well
relationship will open a two-way charted road map. The inflation has eased & fall in crude
opportunity for India and Norway,” he oil prices has given our economy lot of comfort. The trust
added. He further told that there has in Indian capital markets is good and there has been a
been substantial growth in economic significant rise in foreign direct investments. The World
and commercial relations between India Bank rating of India in context of “ease of doing business”
and Norway in recent years, especially in is improving. We, the citizens of India are committed to
areas such as oil and gas, shipping and sustain this growth path.
maritime industries, renewable energy, He further mentioned that India is seen as an Economic
offshore projects and the service sector. force due to the fact that India is world's 2nd most
populous country having 17% of global population, one of
the fastest growing economy 7.2%, prominent emerging
economy (USD 6.7Trillion economy, 6.6% global share),
4th largest consumer of energy in the world - one third of
global average, by 2020 largest importer of coal,
renewables 7%, gas 9%, oil 20% (78% crude oil
imported), 4th largest importer of LNG, 3rd largest
economy in terms of purchasing power parity, 7th largest
economy by nominal GDP, increasing economic
prosperity, rising consumption, Overall steady growth in
exim trade (with some exceptions), exports falling mainly
due to petroleum products, forex reserves 350 bn USD (I
USD = Rs 68), FDI and FII witnessed significant rise, there
is faith in Indian capital markets
4th Offshore Support Vessel Conclave

2016

India is the only bright spot in depressed been shelved or deferred.


global economic scenario. The Indian He told that “It is my considered
economy is growing at 7.2% against opinion that Indian off shore and the
global growth of 2.7%. China's gulf region (produces one of the
growth was driven by exports, while cheapest oils in the world unlike
Indian growth is domestic driven he North sea) the OSV markets have
stated. somewhat remained insulated or
India has the fastest growing service not suffered as badly as other
sector. Trade deficit is narrowing due regions”. However, there is no
to fall in oil prices, CAD is coming down, denying that many high end assets are
TII have gone 9 ranks up in 2013 we were at surplus. Even Low end assets are also
94th and today 85th – long way to go, ease of affected. Charter rates have come down. This is
doing business rating by WB improved from 140 to the major challenge for OSV Owners he said.
130. They have to make adjustments in Design
Everything depends on energy including innovations, Sophisticated vessels – technomax
industrialisation. India is an energy starved OSVs – full of technology, well trained crew (NUSI
country and we need same to fuel our growth to Academy has taken a first step for dedicated Off
sustain our growth trajectory. Shore crew training), Improved productivity &
In this back drop let us see what are the challenges lower operating cost
for the OSVs ? Surely its fortunes are linked with oil So far the outlook was grim and uncertain enough
price. The global oil price plunge has caught but now another dimension has been added -
almost all industry analysts by surprise. No one Lifting of sanctions from Iran wef 16th January
could predict such a fall. It has created havoc in 2016.This will add 500,000 b/d immediately which
the energy markets and seems as though that low is expected to touch 1million b/d within a few
oil prices are there to stay. From USD 150 per months. This is possibly great news for some as
barrel in 2008 (not very far) to USD 30 now. OPEC Iran's long standing plans to have an LNG export
meeting of December 2015 has yielded no terminal at Bander Tombak will surely see daylight
positive results. The oil exporting countries have now. Getting LNG from Iran has been a long
opted not to cut the production to shore up the oil cherished dream for India.
prices. The effort is pump as much as possible and We have so far only talked about oil but let us not
grow market share in the process. Patience is the forget the shale shock he mentioned. Henry hub
key word. Obviously not everyone in OPEC is gas price has fallen from USD 4 to about USD 2.
happy. Long term gas purchase agreements are in
Is Exploration & Production still viable? Despite jeopardy. Contracts are being renegotiated.
low oil prices, several national oil companies, He concluded by saying that advances in fracking
though putting a squeeze, but have no plans of technology has resulted in spectacular reduction
major cuts in E&P activities. Oil companies have in production cost. Superior pad drilling
taken a judicious call in suspending activities in techniques, Smart drill bits which identify cracks in
certain areas, but by enlarge major projects the rock & Dissolvable plugs are such
remains on course. Only high cost ventures have technological advances.
4th Offshore Support Vessel Conclave

2016

Arve Williksen during his presentation highlighted "Marine


Broadband Radio can provide a stable and seamless
communication link between vessels, survey vessel and
operation control room. Through MBR we can transmit the
hydrographic data, voice and video from the vessel to the
shore at the same time. Moreover this can also be used for
configuration of the survey equipment's as well as to control
multiple launches remotely, with minimum operators at the
vessels to control. In all these processes MBR enhances
Capt Zarir Irani, MD, safety and situational awareness.”
Constellation Marine Services
presented his views on on- During the session, Mr Ramanathan N, CEO, Tebma
board inspections with the aim Shipyard- highlighted the fact that Chinese shipyards had
of preparing OSVs for optimal been delivering OSVs at very cheap rates, something that is a
charter hire.“Knowing change is major contributory factor for the crisis in the offshore industry.
one thing but being ready to
bring in change is difficult,” he
said. Capt Purnendu Shorey- Co-founder and Partner, Offing-
Capt Irani is based in Dubai but enthralled the audience with a presentation on ways to reach
is a hard-core Indian at heart. mariners with the use of technology to make them aware of
He used case studies and a the opportunities in the offshore industry.
quick survey to emphasise how
to attend to inspectors. He The OSVC witnessed a presentation by Mr Ajay Chitnis, Head
articulated the need to have a – Human Resources, Administration and Training, GOL
competent Master in place to Offshore, who was super annuating from his professional
avoid major mishaps. career on the very same day.
4th Offshore Support Vessel Conclave

2016

The conclave was a grand success. Delegates reaped the opportunity to


network. The OSVC formed the right platform for industry leaders to meet,
interact and share knowledge on combating the challenges in the offshore
market.
The conference culminated with an evening reception hosted by the
organizers at the Hilton Hotel where delegates were able to unwind and
draw the last conclusions of this gathering & most important for this
function is it brings decision makers and key industry players together.
4th Offshore Support Vessel Conclave

2016

GLIMPSES
2016
4th Offshore Support Vessel Conclave

2016
Feedback from Attendees:
>>>
I found the sessions I attended both interesting and rewarding. This was my first OSVC conference,
and I had foreseen presentations with very pessimistic conclusions. I left the conference - however -
in a more optimistic mood than I had expected. It was refreshing to hear participants who saw
challenges and also opportunities in a market with falling oil prices
-- Torbjørn Holthe, Consul General of Royal Norwegian Consulate General in Mumbai

>>>
The show very good, I meet many interesting people working in the industry
-- Arve Williksen, Area Sales Manager, Middle East & Asia, Kongsberg Maritime, Seatex

>>>
OSVC is a well thought out conference with right balance of topics related to business, technical,
regulatory issues. The contents of conference capture present scenario and also has a glimpse of
what is waiting for industry in future. The speakers are well prepared for their talk and presentation.
Overall its an excellent experience being part of this conference
-- Anand V. Sharma, Director, Mantrana Maritime Advisory Pvt. Ltd.

>>>
Our heartiest congratulations for a successful OSV Conference
-- Gaurav Chhabra, Project Director – Technical Sales and Business Development, ARI Simulation

Offshore Support Vessel Conclave


Mohit Kapoor
Conference Director
Contact: +91 9769 345 348
Email:mohit@ojme.net