Technical Terms

“Anchor Handling Tug”
“Barrel”
“BHP”
“BIMCO”
“BOE”
“Bollard Pull”
“Bulk and Containerised
Goods Port”
“BV”
“Classification Society”
“CPP”
“CPP Tankers”
“Crude Oil”
“OCR”
“Downstream” “DPP”
“DPP Tankers”
“Draft” Vessels that are built mainly to tow floating structures including oil rigs to the desired location, and assist in anchoring them
A common unit of measure that is used for hydrocarbon products, equivalent to 158.9873 Iitres
Brake horse power
The Baltic and International Maritime Council, the largest of the international shipping associations representing shipowners. The association’s main objective is to protect its global membership through the provision of quality information and advice, while promoting fair business practices, facilitate harmonisation and standardisation of commercial shipping practices and contracts
Barrel of oil equivalent, is a unit of energy based on the approximate energy released by burning one barrel of crude oil
A measure of the static pull of a vessel which is used to describe the pulling capacity of towing vessels
A location designated for ships to dock and transfer either goods that are stored in containers or loose bulk cargoes that are in solid or liquid form
Bureau Veritas
Within the shipbuilding industry, classification societies are -non­governmental organisations that set and maintain· technical standards for construction and operation of ships as well as other applicable floating structures. Classification societies also carry out regular surveys to ensure compliance to established standards. Examples of classification societies include Bureau Veritas, Germanisher Lloyd, Lloyd’s Register and Nippon Kaiji Kyokai
Clean petroleum product refers to refined petroleum products comprising light and middle distillates, but not including gaseous products. Some examples of CPP include gasoline, naphtha, kerosene, jet fuel and diesel
Tankers that are typically coated and designed to carry CPP products. CPP tankers are commonly smaller than crude· oil tankers
A type of hydrocarbon in the form of petroleum in its natural and unrefined state existing in natural underground reservoirs as a liquid and remains in liquid form under normal atmospheric pressure and temperature
Daily charter rate or the amount of money it costs to hire a vessel for a day
Aspects of the O&G industry that relate to refining and distribution
Dirty petroleum product refers to refined petroleum products comprising heavy distillates and residuum. Examples include fuel oil, lubricating oils, wax and asphalt
Tankers that are typically uncoated and designed to carry DPP: Some DPP tankers also carry crude oil. DPP tankers are commonly smaller than crude oil tankers
The vertical distance between the waterline and the bottom of the vessel’s hull
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“Dry Dock” An enclosed area filled with water whereby vessels can enter and subsequently the water is drained out such that repair and maintenance works may be carried out on the vessel under dry conditions
“Dry Docking” Vessel upslip for maintenance and repair
“DWT” Deadweight tonnage is the total weight that a ship can carry safely. The total weight a ship can carry includes the sum of the weights of, amongst others, cargo, equipment, bunker, provisions, water, spare parts and people
“Fast Crew Boat” A type of OSV that is primarily used for transportation of personnel and/or light cargoes between shore and offshore facilities, and betWeen two (2) offshore facilities. Offshore facilities are commonly O&G platforms, drilling rigs, and· Floating Production, Storage·and Offloading (FPSO)
“Flare Stack” An elongated structure commonly made of steel whose purpose is to divert escaped or waste flammable gas to a safe open area where it is then burnt off
“FSO” Floating Storage and Offloading is an offshore facility with tanks, commonly in the form of an oil tanker, used for the storage of oil until such time it is offloaded onto another oil tanker or transported through a pipeline
“FSU” Floating storage unit is a semi-permanent offshore facility. commonly in the form of an oil tanker moored close to a facility or land intended only for temporary storage of oil
“Helipad” A dedicated area for helicopters mainly for landing and taking-off
“Hull” .. The hull refers to the body of the ship, and provides the buoyancy that keeps the ship from sinking
“HSE” Health, safety and environment
“IOC” International oil companies, refers to large or private or public oil companies that have upstream, midstream and downstream capabilities, such as Shell and Exxonmobil
“ISM” .. International Safety Management, which is a code for· an international standard for the safe management and operation of ships and for pollution prevention·
“ISO” International Organisation for Standardisation
“Launching Bay” In the context of this Prospectus, it refers to aslope that connects the shipyard at ground level, to the shore and continuing for a short distance below the water surface such that ships may be launched into the water
“Light Weight Platform System” A system that uses less steel parts to construct O&G platforms. It is also modular in design and is easily assembled when all modules are completed
“LNG” Liquefied natural gas; naturally occurring gas that has been cooled to a temperature of -160°C at normal atmospheric pressure in order to condense the gas into liquid, which can be more easily stored, handled and transported. One (1) metric tonne of LNG is equal to 1,400 cubic metres of natural gas at normal temperature and pressure
“LOA” Overall length

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“Loss of Hire”
“LPG”
“LTI”
Urn”
“Marginal Oilfield”
“Marine Support Vessel”
“Maritime Law”
“MARPOL”
“Midstream”
“Minor Fabrication”
“Mooring Boat”
“Mooring System”
“M.T.” “M.V.” “O&G” “Off Hire”
“OHSAS”
“OSV” Refers to loss of income from a marine vessel mainly due to physical damages
Liquefied petroleum gas, propane and butanes liquefied under low pressure. LPG is a gaseous fuel stored under pressures at refineries and sold in pressurised cylinders for domestic and industrial uses
Lost time injury, a work-related injury or illness that renders the injured person unable to return to work on the next working day after the day of the injury and illness
Meter
An oilfield that may not be economically viable due to relatively low hydrocarbon reserves, but could be ·commercially viable as a result of technical or economic developments or changes
In the context of this Prospectus, marine support vessel refers to dedicated vessel that provides supporting services to ports. Such vessels include harbour tugboats, utility tugboats and mooring boats
A distinct body of both domestic law which governs maritime activities, and private international law which governs the relationships between private entities which operate vessels on the oceans .
International Convention for the Prevention of Pollution from Ships
Aspects of the O&G industry relating to transport and trading
The term generally applies to the value-added process of structures out of various raw materials, primarily metal
A marine support vessel that is typically used for final positioning of larger vessels or other floating structures such that they may be safely secured to fixtures such as piers, quays, wharfs, jetties,· anchor buoys and mooring buoys
A system designed to secure a vessel or any floating structure to the sea floor by means of buoys, chains, anchors and other equipment
Motor Tanker
Motor Vessel
Oil and gas
It refers to the period when a vessel is unable to meet the requirements agreed between the charterer and ship owner due to certain conditions laid out in the time charter contract
British Standard for occupational health and safety management systems
Offshore Support Vessel is a vessel primarily designed to support offshore O&G activities. Examples include anchor handling tugs, crew boats, accommodation boats, mooring launches, safety and standby vessels,supply vessels and utility vessels
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“Port”
“Product Tanker”
“PSC” “Ship”
“Shipbuilding”
“Shipyard” “Skid” “Slipway”
“Time Charter” “Tonne” or “Ton” “Tonnage” “Towage” “Tugboat” .
“Upstream” “Utility Tugboat”
In the context of this report, ports refer to sea ports, which typically contain harbours where marine vessels can dock and load/unload people or cargo to and from land. In the context of this report, ports also include terminals, which are commonly smaller than ports and typically comprise jetties and berthing facilities built out into the waters
A type of oil tanker designed to transport refined oil products which have been processed at refineries
Production sharing contract
A large watercraft capable of navigation in a large body of water. Within the context of this report, the term “ship” may be used interchangeable with the term “vessel”
Shipbuilding refers to the activities related to the construction of ships. Modern shipbuilding activities includes, fabrication of metal parts and structures, installation of power and propUlsion systems, installation of other machinery, equipment and instruments, and testing and commissioning
A shipyard refers to an area designated for shipbuilding activities, and equipped as such
A structure used for the safe conveyance and storage of equipment, where the equipment is housed within the structure
Slipway refers to a slope that connects the shipyard, which is on higher ground, to the shore such that ships or boats may be moved to and from the water. Slipways are commonly used to launch either newly built ships that have been fabricated on the shipyard or are used when moving a ship onto dry land for repairs
A charter where the charterer is provided a vessel with a crew at their disposal for a period of time
A metric ton or tonne which is equivalient to 1,000 kilograms or 2,204.6 pounds
A measure ton of the size or cargo capacity of a ship, and a “ton” is a unit of such measure
Towage refers to service provided for towing a vessel by another vessel, typically a tugboat
A vessel whose main function is to push, tow or manoeuvre another vessel or floating structure on water. As such, a tugboat is normally equipped with relatively powerful engines for its size to enable it to do its job effectively
Aspects of the O&G industry relating to exploration and production
Utility tugboat is a type of harbour tugboat but with additional functions such as transportation of crew and carrying of equipment and supplies compared to a normal harbour tugboat that is mainly used for manoeuvring other vessels or offshore structures by towing or pushing
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