Vard (formerly: STX OSV)

[KopiKat]

Reading Materials

IPO Prospectus
AR2012
OSV May 2013 Newbuilding Activity Report
The Platou Report 2013
Vard website

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So, what the heck are OSVs?? It stands for 'Our Savings Vapourised'.... if we were unlucky to buy at >$1.5x to see it drop to $1.2x when Fincantieri lasunched their mandatory G.O. at $1.22 and the current drop to ~$0.90.... Ok, seriously, it stands for 'Offshore Support Vessels'. From their website / AR2012 / IPO Prospectus,

1. ANCHOR-HANDLING TUG SUPPLY VESSELS (AHTS)

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We design and build technologically advanced anchor handling Tug supply vessels (AHTS) that are capable of operations in the harshest environments. AHTS vessels mainly perform anchor handling duties and towage of offshore drilling units and floating production units. as AHTS vessels generally have free deck area, and some of them have tanks under deck, they can also supply cargo and bulk. Due to their large and heavy duty deck area, the AHTSs vessels can be used to transport
large chains, anchors and other equipment. some AHTS vessels are equipped with additional equipment such as launch and recovery systems for remote operated Vehicles (ROV), and cranes for light construction work. additionally, if equipped for, AHTS vessels can do firefighting, rescue operations and oil recovery.


2. PLATFORM SUPPLY VESSEL (PSV)

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We design and build a complete range of platform supply Vessels (PSV). PSVs are commonly referred to as the “trucks of the sea”, as they are designed to transport cargo to and from offshore oil rigs and platforms. PSVs are able to perform a variety of tasks to support offshore operations; our PSVs are designed with focus on cargo-carrying capacity and excellent maneuvering capabilities combined with low fuel consumption. The design allows for flexible configuration with respect to
liquid and bulk cargo. equally important to loading capacity and maneuverability are crew comfort, low noise levels and safe working environments. our designers have optimized the PSV Clean Design-hulls to a maximum cargo capacity-todeadweight ratio.


3. OFFSHORE SUBSEA CONSTRUCTION VESSELS (OSCV)

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We design and build highly advanced offshore subsea Construction Vessels (OSCV) for the oil and gas industry. These highly complex vessels perform subsea operations and maintenance work, and include pipelaying vessels, subsea construction vessels, diving support vessels, ROV support vessels, well intervention vessels, as well as ice-classed offshore vessels designed to operate in arctic areas.


4. OTHER SPECIALIZED VESSELS

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We also design and build other special vessels like research and coast guard vessels, special purpose cable layers, seismic vessels, fishing vessels like stern trawlers, forrage carriers, icebreakers, as well as conventional and LNG-powered car and passenger ferries. We deliver different types of vessels and ship designs of both standardized and highly advanced vessels with significant customer-specific adaptations.

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How is the business cycle linked to the O&G (Oil & Gas) Industry? From IPO Prospectus pg95,

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