exploring the viability of osvconversion to dredge...• total vessel design • in-yard engineering...

Exploring the Viability of OSV Conversion to Dredge

© 2017 GIBBS & COX, INC. AND OSD-IMT ALL RIGHTS RESERVED

Geoff Dean, OSD-IMT

Mark Masor, Gibbs & Cox

International Workboat Show

November 30, 2017

OSV Trailing Suction Hopper Dredge

November 2017 1

Introduction to Gibbs & Cox


• ~7,000 vessels built to G&C designs

• 60+ naval ships in 15 international countries

• High speed/high performance craft with Donald

L. Blount & Associates acquisition

• 50+ government & commercial customers in last

year

Independent and privately held since 1929

• Total vessel design

• In-yard engineering and design liaison

• Refit/conversions/repair

• Maritime Project management

• 3-D CAD/CAE including laser scanning

• On-site support/staff augmentation

• Proposal management

His

tory

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rate

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Loca

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Ca

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2

Quality; Excellence in execution

Integrity; Devotion to high ethical standards

Customers; Commitment to customer success

Employees; Respect for our most valued asset

Teamwork; Cooperation with stakeholders

Innovation; For customers and employees

November 2017

Introduction to OSD-IMT


• Company formed in 1989

• Offices in Holland, Singapore and UK

• Over 160 OSD-IMT Vessels in Service

• 15 vessels under construction

• 30+ group technical staff

• Concept design to Detail design

• New build design for all vessel types

• Feasibility studies and Cost estimating

• Reconfiguration of vessels for charters

• Project management

• Historic vessel renovation

• Large Design portfolio

His

tory

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rate

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International Reputation; Worldwide repeat

clients

High Ethical Standards

Bespoke Design; To meet customers specific

requirements

Partnership; Close liaison with Clients

Experience; Shipyard trained design team

Commercially Competitive; Production

friendly designs

Stability investigations

Review of new statutory regulations

Litigation support

Seakeeping Studies

Dynamic strength analysis

General Problem solving

November 2017

Introduction to OSD-IMT Clients and Shipyards

OWNERS

TORI – Taiwan

HONGHUA – China

BOSKALIS – Holland

BP – United Kingdom

SWIRE PACIFIC – Singapore

COSL – China

POET – Singapore

NORTH STAR – UK

VROON – Holland

BOURBON – France

SHIPYARDS

ZPMC – China

YANTAI RAFFLES – China

QINGDOA QUINHLAN – China

TONGFANG JIANGZIN – China

JIANGSU WUXI – China

GUANGDONG – China

BALENCIAGA – Spain

ZAMAKONA – Spain

GRANDWELD – Dubai

LABROY – Singapore

JMU (YOKAHAMA) – Japan

JMU (ZAIZURU) – Japan

YAROSLAVSKY – Russia

HUSUMER SCHIFFSWERFT – Germany

YORKSHIRE DRYDOCK – UK

CAMPBELTOWN SHIPYARD – UK

SAIGON SHIPYARD – South Vietnam

UNITHAI SHIPYARD - Thailand

© 2017 GIBBS & COX, INC. AND OSD-IMT ALL RIGHTS RESERVED 4November 2017

Market Demand

• Dredging market in the U.S. presents sustained business and the potential for

growth

– Navigation; new and maintenance

– Coastal restoration, wetland, and beach nourishment

– Infrastructure

• Emergency needs (e.g. hurricanes) can stress existing fleet

• USACE and commercial fleet dredge vessels are aging

• Uncertainty in future Government budgets

– Decisions difficult to execute large CAPEX on new dredge vessels

– Significant lag time to design, construct, and deliver new vessels


• Hopper type - self-propelled capable of

– Dredging material

– Storing it onboard

– Transporting it to a disposal area

– Dumping it

• Active U.S. hopper dredge fleet

– 13 industry dredges

– 4 USACE ocean going dredges

– 32 years average age

• Advantages over other types:

– Operating in rough, open water, with deeper drafts

– Moves quickly to project under own power

– Does not interfere or obstruct traffic

– Move quickly to disposal sites under own power

Introduction to Hopper Type Dredges

© 2017 GIBBS & COX, INC. AND OSD-IMT ALL RIGHTS RESERVED 6

Hopper Dredge

Source: USACE.army.mil

November 2017

Dredge Capabilities for Converted OSVBaseline

Capability

Optional

Capability

Suction dredging via one trailing suction pipe X

Deliver dredged material to hopper X

Dump material to seafloor though bottom hopper doors X

Overflow system X

Empty hopper of excess water prior to dredging X

Deliver dredged material directly overboard, to shore, or into a barge X

Dilute the hopper load to facilitate unloading of material during

pumping ashore

X

Draghead with high pressure jets to loosen compact soil X

Degassing system X

Agitation dredging (side-casting) X


Benefits of an OSV Conversion to a Dredge

• OSV utilization rates are at historic lows

• OSV operators continue to look for new ways to repurpose stacked OSVs to

generate revenue (windfarm support, container cargo, cable-laying)

• Long parallel midbody and open working deck suitable for conversion

• OSVs share common configurations, enabling conversion concept to work on many

vessels

• Precedence for conversions of OSVs for other roles

• Most Classed and SOLAS certified/ready

• 67% of USACE Dredging Requirement in Gulf and 20.8% in Atlantic (2013)

Cold Stacked GOM OSVs

Source: WorkBoat.com


Conclusions

• Converting OSVs provide benefits:

– Viable solution for near term/emergent dredging needs

– Lower capital cost compared to new build

– Shorter payback period

– Shorter time from shipyard contract to delivery

– Jones Act and most Classed and SOLAS compliant

– Opportunity to meet higher environmental standards

– Conversion is straightforward, given a suitable OSV configuration

• But comes with disadvantages:

– Less spoil capacity than a dedicated new-build

– Greater draft than purpose built - could limit operating areas

– Marginally higher fuel costs

– Risks associated with vessel re-certification


Questions

Mark Masor

Gibbs & Cox, Inc.

504-265-8316

[email protected]

Geoff Dean

OSD-IMT

+44 (0)1237 420 080

[email protected]


exploring the viability of osvconversion to dredge...• total vessel design • in-yard engineering...

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