In the current economic environment, the need to reduce costs and improve performance of the asset base has never been greater. Offshore contractors have large capital assets that need to be managed efficiently.

In the past few years, day rates have turned flexible - sometimes even negative - while operation and maintenance costs have accelerated. If day rates are dropping and existing long-term contracts are being renegotiated downward, it is difficult - if not impossible - to force an equivalent drop in costs.

Condition based maintenance is a recognized “best practice” proven in the aerospace, aircraft and nuclear industries; all of which involve large capital investments and a “never can fail” operating environment. The purpose of condition monitoring is to eliminate the root cause of failures and anticipate the needs of the equipment. Repairs can be planned before they turn into major failures. Removing or eliminating unnecessary repairs and replacements from the work schedule manages maintenance more efficiently.










Reduction in maintenance actions resulting from the implementation of a condition based maintenance strategy (source: DNV).


Cost savings example - Turbochargers

  • Condition monitoring equipment installed for five years on seventeen vessels
  • Turbocharger bearings replaced based on condition only
  • Average running hours for bearings until replacement = 40,000 hrs
    (supplier recommendation = 16,000 hrs)

Total savings: 17 vessels * 3 turbo chargers * USD 20,000 = USD 1,020,000 every 30 months (not counting time savings)