Leasing

Lease the host. Populate the deck. Start earning.

Seaways builds and owns standard hulls and leases them bare under long-term take-or-pay contracts. This is bareboat charter logic applied to offshore infrastructure — a proven structure in shipping, applied to a hull that can serve more than one industry.

Scope

Who provides what

Seaways provides

The structural platform — columns, ring pontoon, deck structure
Station-keeping provisions: fairleads, chain lockers, thruster foundations
Basic marine systems: ballast, bilge, navigation
Standardised topsides interface — deck load-out points, riser porches, J-tubes, electrical and piping penetrations at fixed grid locations
Hull structural integrity and class maintenance for the term
Confirmation that the hull is qualified for the site envelope

You provide

All topsides — process, power, data halls, converters, RO trains, injection equipment
Topsides design, installation, commissioning and operation
Process safety case where hydrocarbons are involved
Confirmation that topsides loads sit inside the hull's payload and interface envelope

Structures

Three ways to take a hull

Structure	How it works	Suited to
Long-term bareboat	You take the hull, install topsides, and operate and maintain everything for the term	Operators with in-house marine and offshore O&M capability
Lease to own	Fixed term with a purchase option at residual value — de-risks your capex while preserving the upside	Mid-size operators and infrastructure funds wanting eventual ownership
Hull plus installation	Seaways delivers the hull positioned and moored on site. You handle topsides integration and operation only	New entrants — data centre, utility, water and government counterparties with no offshore experience

Terms, rates and return modelling are commercially confidential and are released to qualified counterparties under NDA.

Risk allocation

Where the risk sits

Risk area	Seaways	Lessee
Hull structural integrity and class maintenance	Yes	No
Mooring and station-keeping performance	Yes	No
Hull residual value at end of term	Yes	No
Topsides design, installation and operation	No	Yes
Process safety case for hydrocarbon service	No	Yes
Site-specific metocean qualification	Shared — hull qualified for the envelope	Shared — loads inside the envelope

You carry the business you understand. Seaways carries the steel.

Why the model works

Standardisation is what makes leasing possible

Engineering risk is spent once

Hydrodynamic, structural and class approval work is carried out for the reference design and its scaled variants — not re-derived for every project.

Repeat build lowers unit cost

Repeat fabrication of the same flat-panel, box-girder modules follows the same learning curve seen in any repeat newbuild series.

Redeployment creates residual value

A hull built to standard interface points can be re-leased to a different lessee in a different sector. A bespoke hull generally cannot.

This is not a novel financial structure. It mirrors bareboat charter in shipping and shell-and-core leasing in commercial property. What makes it work here is that one hull form genuinely serves several industries — the same platform that hosts steel catenary risers for deepwater production can, with different topsides, carry a substation, a data hall or a desalination plant.

Diligence

The questions you should ask

Any competent counterparty asks these. It is faster if we put them up first.

Question	Position
Has a hull been built?	No. Hull one is open to an anchor lessee. The design is pre-certified and the architecture is in service across the deepwater fleet.
Has anyone leased a bare hull before?	Not in this exact structure. Bareboat charter and shell-and-core leasing are well established in adjacent industries; this applies that logic to an offshore host.
Will class approve a multi-application hull?	The hull form itself is routinely approved. A notation approach covering multiple applications is scoped with the society before design freeze.
What about first-of-class cost and schedule?	The largest single risk in the programme. Managed by yard selection on relevant fabrication experience and explicit contingency in first-unit pricing.
What if demand exists in only one sector at a time?	That changes the fleet case, not the single-hull case. Two sectors are validated before any multi-hull commitment.

Request the pack Where the programme stands