25
Annual Report 2014
Operations and Financial Review
ensure fuel savings while maintaining high speeds and
maximum comfort for livestock and crew.
Marine Engineering
COSCO completed a diverse range of new projects in
2014, delivering platform supply vessel, multi-functional
pipelay vessels, jack-up rig and drilling tender barges.
A major milestone for the year was the delivery of ‘Kai
Xuan Yi Hao’, a newbuild jack-up rig to a Chinese buyer
in July. It is the first LeTourneau Workhorse jack-up
drilling rig built and delivered by a Chinese shipyard,
marking a number of major technological and production
breakthroughs for COSCO. Measuring 66.71 metres in
length and 67.06 metres in width, the rig is designed to
operate at depths of 400 feet. Built to the high standards
of ABS class and Habitability Plus (HAB+), this unit is
capable of performing drilling operations at depths of
up to 35,000 feet. The rig has been chartered by China
Oilfield Services Limited for a five-year period and is
deployed for drilling operations in the East China Sea.
In April, we delivered the ‘EDrill-1’, a high-end drilling
tender barge to a Singaporean owner, Energy Drilling,
with a charter contract to PTT Exploration & Production
Public Co. Ltd (PTTEP) for a fixed term of three years,
starting August 2014. As one of the latest and best
designed units built so far for the tender barge market,
its performance has been highly acclaimed by the
charterer and the crew. Equipped for drilling operations
in water depths up to 6,000 feet, a drilling depth of
20,000 feet and a 400 tonne lifting capacity, the tender
barge is currently deployed in the Gulf of Thailand for the
Bongkot Program. Following the successful delivery of
‘EDrill-1’, we delivered the second self-erecting drilling
tender barge, ‘EDrill-2’ in November. ‘EDrill-2’ measures
99.97 metres LOA, 29.87 metres in breadth and 11.35
metres in depth and can accommodate a crew of 170,
similar to the specifications of ‘EDrill-1’.
We delivered in March a deepwater specialised pipelay
heavy lift vessel, ‘SapuraKencana 1200’, to Malaysian
owner, TL Offshore Bhd. This was the first of two pipelay
heavy lift vessels delivered by COSCO Nantong Shipyard
in 2014. The second, named ‘SapuraKencana 3500’
was delivered in May. These pipelay heavy lift vessels
are designed to carry out multiple functions, including
oil pipe processing, laying, installation and heavy lifting.
The ABS-classed vessel is capable of working in shallow
water of up to 200 metres with a ten-point mooring
system and is also equipped with a DP3 dynamic
positioning system, which enables it to carry out heavy-
lifting installation of large scale offshore structures such
as platform blocks, modules and jackets, as well as
S-type pipe laying operations in depths of up to 1,500
metres.
In December, we delivered our first offshore platform
supply vessel, ‘Chauvin Tide’, to US-based international
petroleum service company, Tidewater Inc. The vessel
adopts the Rolls-Royce UT 771 CDL design and
measures 83.75 metres LOA, and 18 metres in breadth.
With a loading capacity of 3,800 tonnes, it is able to
accommodate a crew of 46.
