Petrofac’s $200 million contract for the JSD6000 deepwater crane pipelaying ship was once a major breakthrough for ZPMC's entry into the offshore engineering market in 2014. Today, Zhenhua Heavy Industry has spent US$190 million (about 1.2 billion yuan) on this ship. The owner of the "single ship". Shipbuilding caused the shipowner. Zhenhua Heavy Industry once again went to the offshore engineering market for Chinese shipyards.

The British company Petrofac confirmed recently that it has signed a contract with Shanghai Zhenhua Heavy Industry to sell the JSD6000 deepwater crane pipelaying ship project to Zhenhua Heavy Industry, including all the related assets of the JSD6000, including the owner's supply equipment, at a price of US$190 million.

It is reported that Zhenhua Heavy Industry will pay a net consideration of US$167 million for JSD6000 because Petrofac reserves $23 million according to Petrofac's previous contract with ZPMC. ZPMC will pay the initial $92 million in the next 20 days, and another $79 million is expected to be paid in phases next year, and the remaining $5 million will be paid when the new ship is put into operation.

Construction of the JSD6000 crane-laying vessel is expected to be completed by 2022 and Petrofac will provide technical support during the construction process. Petrofac will not pay for the construction, commissioning or testing of this new vessel. Once the new ship is put into operation, a special purpose entity will be set up to hold the crane pipelaying vessel, and Petrofac will retain a 10% stake in this special purpose entity.

After Petrofac decided to withdraw from the deep-water market, the company had been looking for suitable buyers for the JSD6000. The value of this lift-laying vessel was $217 million.

Petrofac ordered the crane pipelaying ship at Zhenhua Heavy Industry in January 2014 with a contract value of approximately US$200 million. The contract is issued jointly with shipyards, electrical and control system suppliers and integrators to reduce project delivery risks. In addition to ZPMC, the ship's electrical and control system integration is the Norwegian Kongsberg Maritime company; the 2000-ton J-Lay tower is provided by the British IHC Engineering Business; the 5,000-ton main crane and the 4 deck cranes are the National Oilwell Varco; The 750-ton deep-water hoisting machine is Remazel Engineering of Italy; the 600-ton S-Lay tensioner and pipeline handling equipment is Remacut, Italy; the classification society is Lloyd's Register of Shipping.

According to the contract, the ship was originally planned for delivery in early 2017. In October 2015, Petrofac terminated the contract due to the construction of the ship. At that time, Zhenhua Heavy Industry issued an announcement that it will actively take various legal measures to safeguard the company's legitimate rights and interests, and to investigate the other party's responsibility.

It is understood that the captain is 216 meters long and 49 meters wide, equipped with a 2,000-ton J-Lay tower, 5,000-ton cranes and four deck cranes, two 750-ton deep-water winches, 600-ton S-Lay tensioners and pipeline handling equipment. Can accommodate 399 people.

The design of the Petrofac JSD 6000 is based on the unique and innovative design of the Ulstein Sea of Solutions. The integration of J-Lay, S-Lay and Derrick functions will provide Petrofac with high-end turnkey opportunities in the rapidly growing deepwater and SURF markets. , Better access to shallow water EPCI projects.

Ayman Asfari, Chief Executive Officer of Petrofac Group, once vowed to sign the agreement with Zhenhua China, “We have 30 years of experience in the design, development, construction and operation of onshore and offshore engineering, and more than 10 years of experience in offshore oilfield development projects. It is a natural process to enter the deepwater market.” “The JSD 6000 deepwater derrick pipelaying vessel is the world’s first-class multipurpose vessel and will give us access to top EPCI opportunities.”

It must be said that the JSD 6000 deep-water derrick pipelaying ship is indeed a world-class multi-purpose offshore ship, but Petrofac apparently gammoned the wrong market and timing. With the gradual recovery of the offshore industry market, I hope Zhenhua Heavy Industry can find a true ship owner.