The tail end of 2023 was unusually busy in the market for construction #jackups.
It seems that the Russian-Ukrainian conflict may be the biggest factor in this.
Frozen port infrastructure projects have become un-frozen, slow-moving plans for port and terminal #construction have been accelerated to accommodate the new trade routes and new geo-political alliances which are forming. All over Europe and beyond new #LNG terminals and deeper ports needing longer quay space are coming into being.
Jackups, conventionally used for driving piles/dolphins in building quays and jetties are the workhorse of this industry. Their market is thus stronger than ever.
Charter rates appear to have increased by 20% from pre-pandemic levels.
The Sale and purchase market is equally buoyant. Once again independent operators with no affiliations to construction companies are entering the market as providers of jackup barges on a rental basis.
The most popular designs of small piling jackups are Combifloat Systems B.V.‘s ‘C7’ (400 tonnes) and Ravestein B.V.‘s RCP250 (250 tonnes). Although a majority of these units are modular and dismountable, European operators tend to use them and keep them fully assembled – mobilising them to projects by towage rather than on a cargo vessel.
During the final few weeks of 2023 DSB Offshore Ltd had the privilege of representing several European construction companies on an exclusive basis in disposing of their jackup barges. In December alone we were involved in the sale of 4 such units, built in a range from early 1980s to early 2000s. Two of these jackups had appreciated in value over the last 5 years – a good indication of the strength of the market at present.
DSB have further jackups for sale – both modular and monohull – from 100 to 1,500 tonnes variable deck load. Jackups are located in Europe, W Africa and SE Asia.
Also available for rental are piling jackups on a worldwide basis.
Photo of RCP 250 jackup ‘Amandi I‘, with legs removed, being loaded on board BBC Eagle in Takoradi, Ghana on New Year’s Eve, destined for work in the Indian Ocean!