Launch of BUE Ili and BUE Chu - June 2005

The first of the two Singapore Tugs was successfully launched last night (23rd June) at President Shipyard in Singapore  at 23.30 local time and this will be followed by the BUE Chu in a few days. The tugs will now undergo final fit out and commissioning/trials before departing for the Caspian Sea in September.

Multicraft Progressing well - May 2005

BUE Emba hull complete and undergoing fit out

BUE Irtysh nears completion

Progress photos FORTRESS in Romania - May 2005

Mid Ship Module awaiting assembly

Bow Module ready for spraying

Progress photos of new Catamaran being built in Australia - May 2005

BUE TOBOL

BUE NARYN/ BUE DARYA

BUE names new vessel fleet - April 2005

BUE has announced the names of the 19 new vessels it is currently building.

The UT755L being build by Aker is being named FORTRESS following the trend set with the first UT775 which was named CASTLE.  The Fortress is a CaspianMax design vessel and is scheduled for transit to the Caspian Sea in September/October this year and will joint the 13 vessel KMNF/BUE Alliance fleet operating in Azerbaijan

The new vessels for the Kazakhstan fleet have all been named after Kazakhstan Rivers

The 5 new SeaCat Crewboats will be named BUE TOBOL, BUE NARYN, BUE DARYA, BUE OB and BUE TEKES and the first three vessels are due to depart Australia in August this year, with the final two departing early 2006.

The 3 Multicraft being built at IHC in Holland will also be named after rivers BUE EMBA, BUE IRTYSH and BUE ISHIM and these will depart Holland in July.

The 2 Shallow Draft Ice Class AHTS vessels being built in Singapore have also been named BUE ILI and BUE CHU and these are due completion September/October.

The 8 new barges being built in Astrakhan will be named in same way as the first tow of the series namely BUEK 3, BUEK 4 etc.

(There will be progress photos of the newbuilds progress in a few days on this web site)

BUE places further order for 4 more crew boats - March 2005

BUE has placed a further order for 4 more SeaCat crew boats with Brisbane builders NewWave Cats following further contract awards by Saipem for the Kashagan development.

Two of the vessels will be sisters to the one placed earlier ( 25 knot 48 passenger) and the additional two are for a 35 knot version with 48 passenger capacity and a smaller Seacat with 25 man capacity.

Delivery of these vessels is split between 2005 and 2006 to fit in with the start of the verious elements of the Construction project.

Article in THE HERALD BUE spends £30m on 15 new ships for Caspian Sea fleet
PAUL ROGERSON	January 19 2005
BUE Marine, the Scottish marine services company, is spending £30m on 15 new vessels after switching the focus of its activities away from the home market to the fast-expanding Caspian Sea. Profits rose sharply last year, after the Leith-headquartered firm sold its stake in a shortlived joint venture with Norwegian investment company Kistefos, the owner of Viking Supply Ships. BUE forged the alliance in September 2002 with the aim of competing more effectively for North Sea work. However, the company sold its 50% stake in newly-created BUE Viking less than a year later, netting £4m, its latest accounts reveal. BUE Viking, now 100%-owned by Kistefos, continues to operate as a separate firm employing 800 from Aberdeen. BUE Marine was formed in 1991 by managing director Carl Rolaston to transport fuel, water, food and equipment to oilrigs in the North Sea and later the Caspian. Explaining the change in strategy, he said: "We were aware that our Caspian business also required investment but there are limits to our resources. "We felt the Caspian offers better prospects. That is not to decry the North Sea, but looking at the major oil companies one can see they are now in the Caspian, while the North Sea is now independents." The transaction saw BUE Marine cut its staff from about 1000 to 622, of whom all but 17 are based in the Caspian region. Unaudited figures for calendar 2004 show earnings before interest, tax, depreciation and amortisation of £15m, up from £10m in 2003 on a like-for-like basis. Rolaston said annual turnover rose from £43m to £58m. The company's annual report for 2003, which does not contain comparable figures, show that BUE Marine posted a pre-tax profit of £3.7m on turnover of £63.3m. Significant developments that year included the closure of an underperforming, "non-core" engineering business in Azerbaijan and the capture of lucrative contracts with BP. Last June, the firm beefed up its Caspian fleet with the acquisition of 13 vessels from Bechtel Enka in Kazakhstan for £2.9m. BUE Marine has 50 vessels operating in the region, 36 in Kazakhstan and the rest in Azerbaijan. Rolaston said a further 15 vessels – one supply boat, eight barges and six utility craft – are currently on order for the North Caspian zone. The £30m cost will largely be funded by debt. Nearly 50% of BUE Marine is split between Rolaston, the largest individual shareholder, and fellow directors Janess Adams, the finance director, and technical director Peter Gill. The rest is held by institutions, including venture capital firm 3i and Kleinwort Benson. BUE paid its owners £703,320 in dividends in 2003, up from £167,639 in the previous year. Rolaston said selling the business is not yet on his agenda but he does not rule it out. He added: "Things are good at the moment but there are no plans. We are still looking to develop and grow the company." BUE Marine's brief involvement with Viking Supply Ships proved lucrative for its auditor, the Edinburgh office of Deloitte. In 2002 the "Big Four" accountant banked £353,000 in fees for "non-audit" services, dwarfing the £65,000 which BUE paid for its audit. In its 2003 accounts, BUE said £335,000 of the larger sum related to advice given in connection with the establishment of the joint venture.

Irgis on the move - January 2005

The KMNF/BUE Alliance vessel Irgis is on the move from Azerbaijan in early 2005 over to Turkmenistan to support the Mearsk drilling programme starting in the northern Turkmenistan sector of the Caspian Sea.  The vessel will then on completion of this single well Charter then proceed back to Azerbaijan as one of the key vessels being used on the installation of the next two offshore platforms on the BP operated AzeriChiragGuneshli field.

BUE places order for 8 barges - December 2004

BUE has placed an order with Red Barricade Shipyard in Astrakhan Russia for the 60m flat top cargo barges which will be delivered during 2005. These will then join the growing fleet in Kazakhstan supporting the Offshore Oil construction and developments programmes currently underway in that region.

BUE places order for SeaCat Fast Crew Boat - December 2004

BUE has placed a $1.2 million order for a SeaCat 17 Crew Boat with Brisbane builders NewWave cats for delivery mid 2005. The SeaCat will be used as part of the Marine Spread in Kazakhstan working with Saipem on the AGIPKCO Pipelay project. 

BUE places order for 3 Multicraft - November 2004

BUE has placed a $3 million order for three Multicraft with IHC Shipyard in Holland for delivery in September 2005.  The Multicraft will be deployed to Kazakhstan and will form part of the Marine Spread to support the AGIPKCO Pipelay project for Saipem.

BUE places order for Shallow Draft Ice Class Tugs - November 2004

BUE has placed an order with President Marine in Singapore for the construction of two new Tugs which will be utilised in the Kazakshtan Fleet.  The Tugs which were dsigned by BUE/MAATS are unique in that they have an minimum operating draft of 1.5m but can develop 25 tonne Bollard Pull.  They are Ice Class making them suitable for year round operations in the North Caspian Sea region.  The $10 million order for the tugs will be completed in September 2005 and the tugs will transit to the Caspian Sea immmediately on completion.

BUE Moves into New Offices in Kazakhstan - November 2004

BUE barges launched in Romania - 9th September 2004

The two new barges BUEK CB101 and BUEK CB102 were today launched in Tulcea, Romania, and accepting delivery of the barges was Dan Bond BUE's Project Manager. Dan said that the barges looked fantastic and that he hoped these were the first of many to be built. The design will be ideal for the Caspian Sea market. BUE is delighted with the service and quality provided by the Shipyard who have delivered a high quality barge on time and on budget.

The barges will, in the next few days, commence tow to the Volga Don Canal and are expected in Aktau around the end of the month. They will then go on hire in support of the offshore operation there.

BUE New barges near completion - July 12th 2004
The 2 New 60m barges being constructed in Aker Tulcea yard in Romania are now nearing completion. One barge is now in the final stage of construction having been built in six sections in the facbrication sheds. The barges are 60m in length with a 16m beam and can carry 1800 tonnes of cargo.  These will be deployed into the BUE Kazakhstan fleet and will be used in support of the various exploration projects currently underway in that region. Group Marketing Director, George Macleod, stated "It is an exciting time for BUE as these will be completed in September and will immediately transit into the Caspian. We have a large new-build programme in the pipeline and this is just the beginning of that process". He added " These are the most modern barges that will operate there and will join a fleet that has grown to over 27 units in the last few months"