21-11-2014, 09:58 AM
Hi,
Being vested in Penguin, I am wondering about the impact about the downturn in O&G.
Some members are saying that Penguin's boats are also applicable to areas other than O&G, so I am trying to understand more about these areas.
At first, I don't even know the difference between crewboats and OSV. This site cleared up my understanding:
http://www.marinemoneyoffshore.com/node/4011
I recommend it for other newbies.
So, Penguin mainly builds crewboats, which is a type of OSV.
I checked up on crewboats on the internet, and found that most sites say that the main purpose is for transporting people and small amounts of supplies quickly to and from offshore installations.
Offshore installations can be oil and gas platforms and wind farms.
According to Wikipedia, most of the major wind farms are located in Europe, so I presume that most of penguin's customers are in oil and gas. (According to the 2013 AR, most of the revenue comes from SEA and Africa)
http://en.wikipedia.org/wiki/List_of_off...wind_farms
Besides transporting to/from offshore platforms, crewboats can be used for security and firefighting.
For security, penguin can potentially supply crewboats with machine gun mounts to coast guards for use as patrol boats.
However, it seems that a company called Litaocean is already supply boats to Mindef. I imagine Mindef would like to keep their boats standardized, so perhaps there are barriers if Penguin want to break into this business in Singapore.
http://www.litaocean.com/aboutus.php
Of course Penguin can try to sell to other countries' coast guards in the region, but so far we have not heard such news.
The other possibility is for private companies who want boats with machine gun mounts to chase off pirates.
I am not sure how big is this market for armed crewboats.
I often hear news of big transport vessels getting attacked by Somalia pirates in the seas off Africa. For these cases, wouldn't it make more sense to mount the machine guns on the big vessels themselves (like what you see on youtube), rather than buy a few more crewboats to escort the big vessel? In general, I think commercial companies would only care about defending against attacks, and not pursuing pirates, so by right they don't need fast boats.
Regarding firefighting, I imagine that the main buyers are the fire-fighting departments, and they would also prefer to get their ships from the same builder for standardization, same as coast guards. So getting into the business would mean competing with the incumbent. I haven't done any research so far into this area. It would be nice if someone familiar with this can provide information. I
The SEA region have many islands and kelongs. Are crewboats frequently used to get from one island to another as some kind of small ferry? I imagine there will be competition with lower spec boats like sampans for this type of purpose.
I am very new to ship building business. Please correct me if my understanding is incorrect.
Hope to hear some opinions from buddies more experienced in this area.
Thanks!
Being vested in Penguin, I am wondering about the impact about the downturn in O&G.
Some members are saying that Penguin's boats are also applicable to areas other than O&G, so I am trying to understand more about these areas.
At first, I don't even know the difference between crewboats and OSV. This site cleared up my understanding:
http://www.marinemoneyoffshore.com/node/4011
I recommend it for other newbies.
So, Penguin mainly builds crewboats, which is a type of OSV.
I checked up on crewboats on the internet, and found that most sites say that the main purpose is for transporting people and small amounts of supplies quickly to and from offshore installations.
Offshore installations can be oil and gas platforms and wind farms.
According to Wikipedia, most of the major wind farms are located in Europe, so I presume that most of penguin's customers are in oil and gas. (According to the 2013 AR, most of the revenue comes from SEA and Africa)
http://en.wikipedia.org/wiki/List_of_off...wind_farms
Besides transporting to/from offshore platforms, crewboats can be used for security and firefighting.
For security, penguin can potentially supply crewboats with machine gun mounts to coast guards for use as patrol boats.
However, it seems that a company called Litaocean is already supply boats to Mindef. I imagine Mindef would like to keep their boats standardized, so perhaps there are barriers if Penguin want to break into this business in Singapore.
http://www.litaocean.com/aboutus.php
Of course Penguin can try to sell to other countries' coast guards in the region, but so far we have not heard such news.
The other possibility is for private companies who want boats with machine gun mounts to chase off pirates.
I am not sure how big is this market for armed crewboats.
I often hear news of big transport vessels getting attacked by Somalia pirates in the seas off Africa. For these cases, wouldn't it make more sense to mount the machine guns on the big vessels themselves (like what you see on youtube), rather than buy a few more crewboats to escort the big vessel? In general, I think commercial companies would only care about defending against attacks, and not pursuing pirates, so by right they don't need fast boats.
Regarding firefighting, I imagine that the main buyers are the fire-fighting departments, and they would also prefer to get their ships from the same builder for standardization, same as coast guards. So getting into the business would mean competing with the incumbent. I haven't done any research so far into this area. It would be nice if someone familiar with this can provide information. I
The SEA region have many islands and kelongs. Are crewboats frequently used to get from one island to another as some kind of small ferry? I imagine there will be competition with lower spec boats like sampans for this type of purpose.
I am very new to ship building business. Please correct me if my understanding is incorrect.
Hope to hear some opinions from buddies more experienced in this area.
Thanks!
