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Saipem SpA SAPMF, an offshore oilfield services company, is set to receive the latest generation heavy lift and pipelay vessel, JSD6000, in June. The completion ceremony of the vessel was hosted by ZPMC, the Chinese state-owned port and naval machinery manufacturer, at its base in Changxing.
The JSD6000 is a 216-meter-long ship equipped with advanced technology, including a DP3 dynamic positioning system. It boasts a heavy-lift capacity of up to 5,200 tons and is capable of laying pipelines up to 36 inches in diameter in J-Lay mode and up to 60 inches in S-Lay mode at depths of up to 3,000 meters. Designed by Ulstein, the vessel meets the highest standards of safety and environmental protection.
Saipem has signed a contract for the bareboat charter of the JSD6000 for a duration of five years, with options to extend for another two years. This charter aligns with Saipem's capital-light strategy outlined in its Strategic Plan, allowing the company to expand its operational capabilities with an advanced vessel.
The journey of the JSD6000 began in January 2014, when Sharjah-based Petrofac ordered the deepwater derrick lay vessel from ZPMC. However, the construction contract was terminated by Petrofac in October 2015. Subsequently, in April 2018, Petrofac sold the vessel project to ZPMC.
The JSD6000 was launched at the ZPMC Qidong shipyard in December 2020. Following a series of sea trials and testing of mission and pipe lay equipment, the vessel returned to the ZPMC Changxing Base in December 2023, marking its readiness for operational deployment.
The addition of the JSD6000 to Saipem's fleet represents a significant improvement in the company's ability to undertake complex offshore projects. This move is in line with Saipem's strategy to leverage high-specification vessels to meet increasing industry demands while maintaining a focus on safety and environmental sustainability.
With the receipt of JSD6000, Saipem is poised to strengthen its position in the offshore construction and pipelaying market, offering expanded capabilities to its clients worldwide.
Zacks Rank and Other Key Picks
Currently, SAPMF carries a Zacks Rank #2 (Buy).
Some other top-ranked players in the energy sector are Archrock Inc. MPC, SM Energy Company SM and Sunoco LP SUN. While Archrockand SM Energy currently sport a Zacks Rank #1 (Strong Buy) each, Sunoco carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.