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Deep Sea Supply is a Cyprus based offshore supply company with a modern fleet of anchor handling tug and supply vessels ("AHTS") and platform supply vessels ("PSVs") operating worldwide. The company became operational in July 2005 through the acquisition of 6 large AHTS vessels, and the fleet has grown to 40 vessels with an average age of less than 5 years as per 31 December 2014. Of the 40 vessels, 15 are AHTS vessels and 25 are PSVs. Deep Sea Supply is listed on Oslo Stock Exchange with the ticker code "DESSC". The company has offices in Cyprus, Norway, Singapore and Brazil.
Strategy and operations
The Company's vision is to become one of the leading offshore supply vessel companies on a global basis.
The company focuses on the following main activities:
- Chartering of the vessels
- Safety and efficiency
- Technical and crew management of the vessels
- Business development
- Investor relations / finance / accounting
The chartering and marketing activities are performed from offices in Singapore, Brazil and Norway. The number of vessels on long term contracts has increased throughout 2014 based on new contract awards in Africa, Australia, Brazil and UK. Going forward, the Company will seek to maintain a good balance between long term employment and spot exposure for the vessels.
Deep Sea Supply has established management companies in Brazil and Singapore in order to do technical and crew management of the fleet. These organizations have gradually taken over as technical and crew managers of the DESSC fleet and as per end of 2012 all vessels were managed in-house.
The vessels operate worldwide by Desember 2014, the vessels operated in the following geographical areas:
- North Sea: 6 vessels
- Asia: 9 vessels
- Black Sea 5 vessels
- South America: 15 vessels
- West Africa: 5 vessels
Growth in new markets
Deep Sea Supply has a strategic focus on developing market opportunities in new markets for its fleet of vessels.
In 2011, the Company further developed its presence in Brazil. An important milestone was achieved in March 2011 when the locally established shipowning company was given status as EBN (Brazilian Shipping Company). Following this classification, the Company now has full rights to enter into charter contracts with oil companies in Brazil directly, which will increase market access and reduce operating costs for the Company's vessels in Brazil significantly.