Esvagt Brings More Offshore Vessels into Service as Demand Spikes

Danish offshore vessel owner Esvagt is seeing an increase in activity and has brought more vessels into service to keep up.

"Increased activity in the autumn and again this spring have brought more Esvagt vessels into service; most recently the ’Esvagt Castor’ and the ’Esvagt Carpathia’," Esvagt said, which specializes in the provision of emergency response and rescue vessels, said Thursday.

The ’Esvagt Castor’, the ’Esvagt Carpathia’, and several other Esvagt vessels have been signed up for various offshore campaigns.

Positive movement in the offshore oil and gas markets has led to Esvagt recently signing new contracts for the ’Esvagt Castor’ and the ’Esvagt Carpathia’, the company said.

"Both vessels were signed up for this year's spring offshore campaigns following a period where the combination of Covid-19 and low oil prices significantly stunted activities in the oil and gas sector," Esvagt said.

'The low oil prices we experienced last spring plus the difficulties we have experienced getting people out to work due to travel restrictions have meant that many have chosen to postpone jobs and campaigns,' says Ib Henrik Hansen, Head of Commercial for ESVAGT:

'Last autumn, we saw the first signs of reignition, and we now see an increase in demand for vessels,' he says.

Ithaca Energy extended its contract with the ’Esvagt Christina’ as ERRV for the Stella field in the Central Graben area in the UK sector of the Central North Sea for standby services and other ERRV tasks. This extension is part of an option in the contract and means – when the extension ends – that the ’Esvagt Christina’ will have been working in the field for three years. 

The current contract includes another year, so it can turn out to be even longer, Esvagt said.

At the end of March, the ’Esvagt Champion’ entered into a contract with IOG and the drilling rig, the ’Noble Hans Deul’, to provide support for good operations; the contract is for 450 days.

The ’Esvagt Castor’ started providing support for Hess for a campaign in the Danish sector along with the ’Esvagt Innovator’, the ’Esvagt Carpathia’ has been chartered to Total DK, and the ’Esvagt Don’ is reactivated for the spot market and as back-up crew change vessel.

"There are definite positive trends in the market and we are seeing an increase in activity levels that look good right now and promising for 2022,' says Ib Henrik Hansen.