Aqualis - Thread with relevant comments and information

Interesting market comments from Ocean Rig in their Q2 presentation:

Slide 8 shows an improvement in rig contracting, which is an important market for Aqualis, as they are often involved, when rigs are moved around the world (

New contracts for Aqualis (August 8th):

Aqualis Offshore has been handed the position keeping role for installation of the Egina FPSO offshore Nigeria.
EPCIC contractor for the FPSO, Samsung Heavy Industries (SHI), has awarded the position keeping work to Aqualis Offshore. The newbuild Egina FPSO was towed from South Korea and arrived in Nigeria in late January for final integration of topside modules built in Lagos.

Once the FPSO is located at the Egina field, Aqualis Offshore will manage the position keeping procedure and provide position keeping masters offshore while it is being connected to the pre-installed mooring spread. In total, the Egina FPSO will be spread moored on 16 mooring lines (4×4).

“Having last year successfully managed the position keeping roles for the Icthys Venturer FPSO and Ichthys Explorer central processing facility, we are no stranger to installing large offshore structures. We look forward to supporting SHI and Total with the Egina FPSO, which is a challenging deepwater field development,” says Phil Lenox, Director – Asia Pacific.

Total is the operator of the Egina field, which is located some 130 kilometres off the coast of Nigeria at water depths of more than 1,500 metres. The FPSO measures approximately 330m in length and is expected to have an oil storage capacity of approximately 2.3 million barrels of oil.

OWC opens office in Taiwan:

Offshore Wind Consultants (OWC), a company wholly owned by Aqualis ASA, has established a new office in Taiwan to support the fast growing Taiwanese offshore wind sector.
OWC is an independent engineering consultancy focused on the development and realisation of offshore renewables technology and projects. Offshore Wind Consultants Taiwan Co., Limited will offer offshore wind consultancy services and expertise to the Taiwanese and wider Asia Pacific markets.

“We have secured a number of jobs offshore Taiwan in the past six months. To set up a dedicated office here to be as close as possible to our clients and to contribute towards local job and value creation therefore makes perfect sense,” says Will Cleverly, managing director of OWC’s Taiwan operation.

OWC has secured contracts for providing EPC lead and installation manager roles for an offshore wind developer for a site due to come on line in 2021, and also undertaken work for other clients in the region. This has included providing consultancy services related to wind turbine installation vessels and their suitability for different wind turbines and site locations offshore Taiwan.

Prior to 2018, Taiwan had approximately 8MW wind power installed, but now has ambitions of 5.5GW to be under construction by 2025. In April this year, the Taiwanese Ministry of Economic Affairs (MOEA) allocated grid capacity for ten new offshore wind projects.

“We believe our experience of helping clients reduce CAPEX and work with tight schedules and high risk profiles can be of value to help developers in Taiwan achieve these impressive targets,” adds Will Cleverly.

In 2017, OWC’s parent company, marine and offshore engineering consultancy Aqualis Offshore, also established an office in Taiwan to support local offshore wind and oil and gas developments. OWC’s office, based in the heart of Taipei, will work closely with the existing Aqualis Offshore branch.

“Setting up the Aqualis Offshore unit in Taiwan has been a great success. To complement our capabilities by adding the OWC offshore wind products and services will make us an even more relevant and reliable partner offshore Taiwan,” says David Wells, CEO of Aqualis Offshore.

OWC and Aqualis Offshore are both part of Oslo-listed energy consultancy group Aqualis ASA, an energy consulting group providing consultancy services to the offshore oil, gas and renewables sectors globally.

Økokrim senket aksje
Aqualis ASAs datterselskap Aqualis Offshore, og en tidligere ansatt hos selskapet, er blitt siktet av økokrim, mistenkt for brudd på forurensingsloven.

Det melder TDN Direkt, som siterer DN.

Aqualis ASAs datterselskap Aqualis Offshore, og en tidligere ansatt hos selskapet, er blitt siktet av økokrim, mistenkt for brudd på forurensingsloven.

- Vi kan bekrefte at Aqualis Offshore as og en tidligere ansatt hos Aqualis Offshore as er blitt siktet av Økokrim mistenkt for brudd på forurensningsloven. Vi har vært åpne om vår involvering siden politiet kontaktet oss i mai 2017, sier Wells, ifølge avisen.

Ingen aksjer falt mer mandag, og endte ned 8,56 prosent til 4,70 kroner.

Rig moves are an important activity for Aqualis Offshore (Rig Moving, Rig Inspections, see webpage for further information):

This presentation from Borr Drilling contains good market updates:

Slide 7: Number of rig fixtures are going up.
Slide 9: Offshore (0-125 meters) investments are expected to go up.
03.09.2018 kl 18:53 2343

Ingen sak foe økokrim da lengere. Sogar Belona er fornøyd med løsningen.

#8 insider transaction (all buying) after the Q2 report:

Asker, 6 September 2018: The following primary insiders have purchased shares in Aqualis ASA

Stuart Mill, Group Commercial Director, acquired 1,230 shares at an average purchase price of NOK 4,60 per share. Following this transaction Stuart Mill holds 101,998 shares in total.

#9 insider transaction (all buying) after the Q2 report:

Asker, 11 September 2018: The following primary insiders have purchased shares in Aqualis ASA

Stuart Mill, Group Commercial Director, acquired 35,000 shares at an average purchase price of NOK 4,952 per share. Following this transaction Stuart Mill holds 136,998 shares in total.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

#10 and #11 insider transaction (all buying) after the Q2 report:

Asker, 20 September 2018: The following primary insiders have purchased shares
in Aqualis ASA

Kim Boman, CFO, acquired 100,000 shares at an average purchase price of NOK 4,33
per share. Following this transaction Kim Boman holds 500,000 shares in total.

Amish Sanghavi, Group Controller, acquired 100,000 shares at an average purchase
price of NOK 4,33 per share. Following this transaction Amish Sanghavi holds
276,994 shares in total.

New Presentation from Borr Drilling:

Page 4 shows a continued improvement in the jack-up market, which is positive for Aqualis. Movements of Jack-up rigs is an important business area for Aqualis.

New large shareholder in Aqualis:

We hereby declare that due to a trade of 1,000,000 shares done by Danica Pension Försäkringsaktiebolag 19th September 2018, Danske Bank A/S as per 20th September 2018 indirectly holds 2,468,886 shares and votes in Aqualis ASA through Danica Pension Försäkringsaktiebolag. This holding represents 5.83753 % of the total share capital and total no of voting rights in Aqualis ASA.
24.10.2018 kl 12:22 1421

Håper på en oms over $8,5 mill i morgen og et res. over $ 500' for 3 Q! Noen som har en formening om det?
Redigert 24.10.2018 kl 12:26 Du må logge inn for å svare

Nå har insiderne lastet bra opp, blir interessant når årsaken før eller siden kommer til syne.
25.10.2018 kl 09:32 1351


Oslo (TDN Direkt): Aqualis fikk et driftsresultat på 0,6 millioner dollar i tredje kvartal 2018, mot et driftsresultat på 0,2 millioner samme periode året før, ifølge selskapets seneste kvartalsrapport.
Resultat før skatt ble 0,6 millioner dollar i kvartalet (-0,3), av driftsinntekter på 8,6 millioner dollar (7,3).
Selskapet hade en ordrereserve på 6,4 millioner dollar ved utgangen av kvartalet.


Solid og grei drift med fin guiding.

Fortsettelse følger, faller på positivt resultat.


Strong Q3 report from Aqualis. Key highligths:
- Revenue up 18% (y-o-y)
- EBIT (adj.) up 144% compared to last year - and a very decent margin in Q3, which is normally seasonally weak.
- Loss making Norwegian office to be closed down by the end of the year (good for 2019 outlook).
- Market is improved, but still a competitive situation. Company hope they can start to raise rates in H2 2019.

Aqualis is well on track to deliver 15% revenue growth and 7% EBIT-margin this year. EBIT margin should be even better next year with Norwegian office closed down and continued improvement in the markets.

EV/EBIT for 2019 seems to be below 4 and there will probably come another dividend after the Q4 report.

Link to report, presentation and webcast:
26.10.2018 kl 08:17 1268

Aqualis fortetter å vokse jevnt og trutt. Både omsetning og resultat. Kvartal for kvartal.
26.10.2018 kl 14:26 1224

Utrolig at folk selger denne ned mot 4 tallet. Trodde ødelendene som ikke gidder å plukke penger på gaten var ute av aksjen, men tok åpenbart feil. Vel har en så mye penger at en kaster de etter folk er det greit nok, det er nok av mottakere ser det ut for selv om de prøver å loppe selger så godt som mulig. Men det er jo en part of the game.
Redigert 26.10.2018 kl 16:09 Du må logge inn for å svare

Q3 presentation from Shelf Drilling:

Slide 4 shows further activity improvement in the Jack-Up Market (Jack-Up movements are around 30% af revenue at Aqualis)
Slide 5 shows most improvement in Middle East (largest, and most profitable, market for Aqualis).

McDermott signs up Aqualis Offshore

Aqualis Offshore has entered into a master services agreement with McDermott Asia Pacific Sdn Bhd (McDermott) to provide engineering reviews and marine warranty services for the company’s offshore operations in the Asia Pacific region.
The agreement is valid for five years and covers five countries, including Singapore, Vietnam, India, Myanmar and Australia.
Aqualis Offshore will provide engineering reviews and approvals, vessel surveys, towage approvals and marine warranty services for McDermott’s offshore installation and construction projects in the five aforementioned countries.
“Everyone is aware of McDermott’s track record when it comes to offshore construction engineering and offshore operations. To be able to support the company is great. Both our companies have repeatedly demonstrated that highest level of safety and efficiency can be combined when operating offshore. We look forward to supporting McDermott whenever they require our services,” says Phil Lenox, Director – Asia Pacific, at Aqualis Offshore.
Aqualis Offshore will manage the agreement out of its Singapore office, but will utilise personnel and competence from its entire Asian office network to support the contract.
McDermott is a fully-integrated provider of technology, engineering and construction solutions to the energy industry.

Aqualis Offshore sets up office in Australia

Aqualis Offshore has set up an office in Perth, Western Australia, to support oil and gas developments in the Australasia region.

Aqualis Offshore is part of Oslo-listed energy consultancy group Aqualis ASA.
“We have supported important projects offshore Australia in recent years and believe it represents a market with good potential. There seems to be an increasing confidence in growth in offshore activity here, so we feel the time is right to set up a dedicated office in Australia,” says David Wells, CEO of Aqualis Offshore.

In 2017, Aqualis Offshore successfully completed the station keeping jobs for both the giant Ichthys Explorer central processing facility (CPF) and the Ichthys Venturer FPSO.

To head up its Australian operation, Aqualis Offshore has appointed Simon Healy as general manager. Simon is a highly experienced Master Mariner who has held senior positions in Swire Pacific Offshore and run offices in Singapore, Middle East (Doha), West Africa (Douala) and Australia.

Simon will report to Phil Lenox, director – Asia Pacific, in Aqualis Offshore Singapore.

Aqualis Offshore Australia will offer the full suite of the company’s services including concept, FEED and basic design engineering; transportation & installation; marine consultancy; rig moving; dynamic positioning & critical systems; marine warranty; marine casualty surveys; construction supervision; rig inspection, preservation and reactivation; technical due diligence; risk consulting and renewables.
11.01.2019 kl 14:27 246

Bare positive nyheter, men ikke mye fart i denne. Labert volum omsatt per dag osv. Foreløpig greit for meg som sitter long, men litt kjedelig da.
Blir spennede å se resultat for Q4 i slutten av februar.
Og om det blir noe overskudd slik at de kan følge opp den varslete aksjonærvennlige policyen med utbytter.
Har et håp om at de skal klare å legge på seg ca 20% i året slik at vi ser 5 ved slutt 2019, 6 slutt 2020?
Ikke basert på annet en utsikter om generelt bedre inntjening formidlet av Wells.
Ekspansjonen med flere kontorer gjør vel at de nye kontorene trenger litt tid før de begynner å generere inntekter.
Noen som vet om den varslete stengingen av Norgeskontoret i Sandefjord har funnet sted?
Artig om noen andre kan kommentere kursmål, forventninger, nyheter.