4th July will mark a pivotal moment in the North Sea saturation diving market as a new DSV enters the market...the

....new DSV will arrive in Aberdeen shortly. This milestone signifies the first entry of a new company with a new to region, dedicated Diving Support Vessel (DSV) since circa 2014, when Harkand made its debut. This event heralds a new era of competition and opportunity in this specialised market. The MPV Everest, under the UK leadership of DCN’s Aaron Ellington and supported by industry veterans like Bob Bryce and Hayden Stark, promises to be a transformative force.

Vessel Specifications and Capabilities

Built in 2017 and flagged in the Bahamas, the MPV Everest is an Ice Class Multipurpose Construction Vessel designed to operate in the most demanding environments, including the Arctic and Antarctic regions. The vessel boasts impressive dimensions: a length overall of 140 meters, a breadth of 30 meters, and a depth of 13 meters. With a gross tonnage of 21,943 T and a deadweight of 7,277 T, it is a formidable presence in the water.

The MPV Everest is equipped with a helideck capable of accommodating aircraft such as the MIL Mi-8, Sikorsky S92A, and S61N, enhancing its operational flexibility. Its maximum speed of 15 knots and economic cruising speed of 12 knots allow for rapid deployment to various locations.

Advanced Diving and Construction Systems

The vessel is outfitted with a Lexmar Twin-bell 18-man saturation diving system capable of operating at depths up to 300 meters, supported by two hyperbaric lifeboats. Additionally, it features an air diving system for shallower operations. The MPV Everest is also equipped with remotely operated vehicle (ROV) systems, including 200HP heavy-duty work-class systems that can operate at depths of up to 4,000 meters and light work/inspection-class systems operating at 3,000 meters.

The vessel's deck area of 1,400 m2, combined with two cranes (a 250 MT and a 50 MT MacGregor AHC Knuckle Boom), allows for a wide range of construction and intervention tasks, including umbilical and cable installation, trenching and burial of pipelines and cables, and light to medium construction projects.

Dynamic Positioning and Power Systems

The MPV Everest is equipped with a DP3 dynamic positioning system, ensuring precise and stable positioning even in challenging conditions. This system includes 3x Motion Reference Units (MRU), 2x Differential GPS, 3x Gyrocompass, and other advanced positioning technologies. The total thruster power of 20,000 kW, provided by six thrusters, ensures robust manoeuvrability and station-keeping capabilities.

Main power is supplied by generators totalling 25,200 kW, comprising four 5,500 kW units and two 1,600 kW units. Additionally, emergency power is provided by two generators (1,300 kW and 800 kW), ensuring continuous operation even in the event of a power failure.

Accommodation

The MPV Everest can accommodate up to 140 personnel, with 60 single cabins and 40 twin cabins, all fully air-conditioned and equipped with ensuite bathrooms. This high standard of accommodation ensures that crew members can work and rest comfortably during extended missions.

Market Opportunities and Industry Impact

The arrival of the MPV Everest in the North Sea is highly anticipated by industry operators, given the vessel's advanced capabilities and the experienced leadership team driving its operations. The North Sea market, currently tight and expensive for saturation diving services, will no doubt benefit from a new, competitive player.

Anyone involved in the UK saturation diving space will know that Ellington has been working tirelessly to bring the vessel to the region. An ex-saturation diver with an MBA in business administration and extensive commercial, project, and operational experience worldwide, particularly in the UK, Ellington has succeeded where many have failed. Supported by industry stalwarts like Bob Bryce and Hayden Stark, Ellington brings a wealth of experience and a fresh perspective to the market. Their combined expertise in project management and vessel assurance, along with a strong focus on safety and quality, positions the MPV Everest as a welcome possible alternative for operators.

The North Sea's hot market conditions present numerous opportunities for the MPV Everest. With the ability to undertake a wide range of tasks, from diving support and ROV operations to construction and oil recovery, the vessel is poised to meet the diverse needs of the region's offshore industry. However, they must deliver safely and efficiently. Anything less will make a sustainable stay in the North Sea incredibly difficult.

Conclusion

The MPV Everest's entry into the North Sea diving market represents a significant development, promising enhanced competition and service options for industry operators. With its size and capabilities, together with experienced leadership, the vessel is well-equipped to handle the challenges of the North Sea environment and deliver high-quality, reliable services.

Currently, vessel day rates and demand are high, and schedules are compressed and rigid. The ball is well and truly back in the contractors' court, and in such scenarios, operators seek options. However, in this specialist market, finding alternate solutions that meet vessel assurance, contracting strategies, supply chain approval, and general levels of comfort is a daunting task. The MPV Everest offers a new and, on paper at least, capable alternative in a highly complex service offering.

As operators look for more cost-effective solutions, the MPV Everest is literally the only option outside the established three saturation diving contractors in the UK in this dynamic and demanding market. However, safe delivery is key. This will be the litmus test. Failing to meet safety and efficiency standards will significantly reduce the chances of sustained success. Passing it, on the other hand, will open the door to numerous opportunities for growth and impact.

About the Author

David Sheret is a globally acknowledged expert in the saturation diving vessel market and the broader realm of offshore energy production. His career, spanning over two decades, is a testament to his extraordinary expertise and influence in the industry. In 2022, David helmed the advisory team for one of the world's largest saturation diving company transactions that year, a monumental feat that firmly established him as a luminary in the offshore subsea sector.

Presently, David advises a multitude of companies on strategic saturation vessel & company acquisitions, continually pushing the boundaries of what’s possible in the industry.

As the visionary driving Archer Knight's strategic direction, David has been instrumental, as part of the board of directors, in shaping the company's trajectory. With over 20 years in senior management roles, the last 18 focused squarely on the offshore energy sector, his leadership and foresight have been nothing short of transformative. His specialisation in business development, strategy, market intelligence, and communications has been a cornerstone of Archer Knight’s ascendancy in the market.

David's rich tapestry of experience encompasses all critical regions throughout the energy hubs His profound understanding of these markets has enabled him to lead successful strategic and tactical initiatives, positioning firms for growth and competitive advantage.

Moreover, David’s standing as an industry expert was underscored by his five-year tenure as an executive director of Subsea UK; now known as the Global Underwater Hub.

David’s unique blend of strategic insight, market acumen, and leadership prowess makes him a well-respected, ‘go to’ figure in the offshore energy industry. His dedication to advancing the sector and his illustrious track record of success continue to inspire confidence and admiration among peers and clients alike.

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