Pirates hijacked a Turkish ship with 20 crews off the coast of Somalia but at least six other ships have fended off pirate attacks in the last two days.
The M/V Yasa Neslihan freighter was boarded by pirates in the Gulf of Aden on Wednesday, the International Maritime Bureau in Malaysia said. Noel Choong, a Maritime official, said an Italian-operated cargo ship with 26 crews managed to escape a pirate attack in the same area Tuesday with unspecified aggressive maneuvers. NATO sent three ships over the weekend into the Gulf of Aden -one of the world's busiest shipping lanes for anti-piracy patrols and to escort cargo vessels. But attacks have continued unabated. On Wednesday, the U.S. Navy said commercial shipping vessels foiled five recent attempted hijackings by pirates in the Gulf of Aden. In one instance, a Spanish military patrol plane thwarted pirates trying to hijack an oil tanker by buzzing them three times and dropping smoke canisters. At least 77 ships have been attacked in the African waters this year. Thirty-one ships have been hijacked, and 10 remain in the hands of pirates along with nearly 200 crew members.
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Friday, October 31, 2008
Tap eyes full capacity as revenue surges
Australia’s Tap Oil’s revenue are up 72% for the quarter ending in September despite a 37% slide in production, but the company said it is on target to generate revenue at close to full capacity by the end of 2008.
Tap posted higher revenue of A$22.2 million (US$14.8 million) for the three month period compared to the previous quarter due to higher oil and gas prices, while total production fell 69,924 barrels of oil equivalent to 118,196 boe. “During the quarter, Tap Oil restored the majority of its production base, with successful tie-in of Woollybutt South in July, restoring gas re-sales from John Brookes in August and progress to repairs at the Harriet venture facilities damaged by the Varanus Island incident,” the company’s chief executive said today in the quarterly report. He added that Tap’s cash position is starting to reflect the stronger production performance. At the end of September Tap had net cash of A$47 million, but this had improved to over A$60 million by late October. Looking to the future the company is in the midst of shooting wall-to-wall 3D seismic across Western Australian permit WA-351-P, which it says has liquefied natural gas- gas scale potential, reinforced by Hess’ three recent gas discoveries in the adjacent permit. Tap is also starting an exploration programme over Block M in Brunei as well as expects the Fletcher-3 appraisal well in Santos operated permit WA-191-P to be spudded next month. The well is designed to evaluate the oil discovery made by the Fletcher-1 and 2 well in 2007. Taps’ participation in Fletcher-3 has increased from 8.2% to 10.9333%.
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Tap posted higher revenue of A$22.2 million (US$14.8 million) for the three month period compared to the previous quarter due to higher oil and gas prices, while total production fell 69,924 barrels of oil equivalent to 118,196 boe. “During the quarter, Tap Oil restored the majority of its production base, with successful tie-in of Woollybutt South in July, restoring gas re-sales from John Brookes in August and progress to repairs at the Harriet venture facilities damaged by the Varanus Island incident,” the company’s chief executive said today in the quarterly report. He added that Tap’s cash position is starting to reflect the stronger production performance. At the end of September Tap had net cash of A$47 million, but this had improved to over A$60 million by late October. Looking to the future the company is in the midst of shooting wall-to-wall 3D seismic across Western Australian permit WA-351-P, which it says has liquefied natural gas- gas scale potential, reinforced by Hess’ three recent gas discoveries in the adjacent permit. Tap is also starting an exploration programme over Block M in Brunei as well as expects the Fletcher-3 appraisal well in Santos operated permit WA-191-P to be spudded next month. The well is designed to evaluate the oil discovery made by the Fletcher-1 and 2 well in 2007. Taps’ participation in Fletcher-3 has increased from 8.2% to 10.9333%.
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China Merchants and Citic Group sign up for Ningbo port investment
Shanghai: China Merchants Holdings (International) and Citic Group said they would jointly develop a new port in Daxie.
The South China Morning Post reported analysts predicted a total investment of 3.2 billion yuan (HK$3.63 billion) in the port, known as Port Zone C and located in Ningbo Daxie Development Zone, which will have a quay length of 1,600 metres and accommodate three or four container berths. China Merchants will hold 20 per cent of the joint venture, while Shanghai Citic Port Investment will hold 41 per cent. Ningbo Port will have 39 per cent, according to the website of China Merchants. The port is adjacent to the China Merchants International Terminal Ningbo Daxie, 45 per cent owned by China Merchants.
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The South China Morning Post reported analysts predicted a total investment of 3.2 billion yuan (HK$3.63 billion) in the port, known as Port Zone C and located in Ningbo Daxie Development Zone, which will have a quay length of 1,600 metres and accommodate three or four container berths. China Merchants will hold 20 per cent of the joint venture, while Shanghai Citic Port Investment will hold 41 per cent. Ningbo Port will have 39 per cent, according to the website of China Merchants. The port is adjacent to the China Merchants International Terminal Ningbo Daxie, 45 per cent owned by China Merchants.
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Russian shipyard to float out new ice-class tanker Oct. 31
Russia's Admiralty Shipyard will move a new enhanced ice-class tanker, the Mikhail Ulyanov, from a dry dock to a wet dock for the final stages of construction work.
The floating out ceremony is to be attended by Russian Deputy Prime Minister Sergei Ivanov, Transport Minister Igor Levitin, Culture Minister Alexander Adveyev, St. Petersburg Governor Valentina Matviyenko, and other dignitaries. The St. Petersburg-based shipyard, Russia's oldest, is building for Sovcomflot, Russia's largest shipping company, a series of two 70,000dwt enhanced ice-class tankers, designed to ship oil from Prirazlomnoye (an Arctic oil field operated by Sevmorneftegaz, a subsidiary of Gazprom). Construction of the Mikhail Ulyanov started in 2007 and is to be completed in the summer of 2009. A second tanker, the Kirill Lavrov, is also due to be launched in 2009. Sovcomflot took delivery of the country's first Arctic shuttle tanker, the Vasily Dinkov, from Samsung Heavy Industries last year. The Vasily Dinkov, along with its sister tankers - the Shturman Albanov and the Kapitan Gotsky - have an ice-enhanced hull structure, designed in accordance with LU6 (1A Super) ice-class, under the classification of the Russian Register of Shipping. They will be able to operate in temperatures of minus 40°C, breaking ice of up to 1.5mtr thick without an icebreaker escort.
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The floating out ceremony is to be attended by Russian Deputy Prime Minister Sergei Ivanov, Transport Minister Igor Levitin, Culture Minister Alexander Adveyev, St. Petersburg Governor Valentina Matviyenko, and other dignitaries. The St. Petersburg-based shipyard, Russia's oldest, is building for Sovcomflot, Russia's largest shipping company, a series of two 70,000dwt enhanced ice-class tankers, designed to ship oil from Prirazlomnoye (an Arctic oil field operated by Sevmorneftegaz, a subsidiary of Gazprom). Construction of the Mikhail Ulyanov started in 2007 and is to be completed in the summer of 2009. A second tanker, the Kirill Lavrov, is also due to be launched in 2009. Sovcomflot took delivery of the country's first Arctic shuttle tanker, the Vasily Dinkov, from Samsung Heavy Industries last year. The Vasily Dinkov, along with its sister tankers - the Shturman Albanov and the Kapitan Gotsky - have an ice-enhanced hull structure, designed in accordance with LU6 (1A Super) ice-class, under the classification of the Russian Register of Shipping. They will be able to operate in temperatures of minus 40°C, breaking ice of up to 1.5mtr thick without an icebreaker escort.
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Rederi Transatlantic signs with Stora Enso
Swedish company Rederi AB Transatlantic has signed an agreement to take over Stora Enso’s service for the transport of forest products from southern Finland.
Rederi will deploy three Ro Ro vessels on the routes Kotka to Lübeck and Kotka to Gothenburg. The new service will be operated from Rederi’s offices in Gothenburg and Helsinki and from a newly opened office in Lübeck. “Transatlantic is proud of the extended confidence shown in the company,” says Rederi AB Transatlantic’s President Carl-Johan Hagman, commenting on the new agreement with Stora Enso. “Stora Enso is a very important customer for us and the extended cooperation is entirely in line with our strategy to increase our activity in the Baltic Sea region, with a focus on Nordic base industry,” he said.
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Rederi will deploy three Ro Ro vessels on the routes Kotka to Lübeck and Kotka to Gothenburg. The new service will be operated from Rederi’s offices in Gothenburg and Helsinki and from a newly opened office in Lübeck. “Transatlantic is proud of the extended confidence shown in the company,” says Rederi AB Transatlantic’s President Carl-Johan Hagman, commenting on the new agreement with Stora Enso. “Stora Enso is a very important customer for us and the extended cooperation is entirely in line with our strategy to increase our activity in the Baltic Sea region, with a focus on Nordic base industry,” he said.
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'Rio Negro' christened in Korea
Hamburg Sud has christened the ‘Rio Negro’ at the Daewoo Shipbuilding and Marine Engineering yard in Okpo, Korea.
The 286-metre vessel is the third newbuilding in a series of six identical container vessels, each with a slot capacity of 5,900 TEU. The ‘Rio Negro’ is named after a tributary of the Amazon which rises in Columbia and then flows into the Amazon in Brazil. Following delivery on 4 November, the ‘Rio Negro’ will initially be deployed in Hamburg Sud's New Good Hope Express Service, which connects Asia and South Africa with South America East Coast. The vessel is then scheduled to be phased into the shipping group's Europe to South America East Coast Service in March 2009.
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The 286-metre vessel is the third newbuilding in a series of six identical container vessels, each with a slot capacity of 5,900 TEU. The ‘Rio Negro’ is named after a tributary of the Amazon which rises in Columbia and then flows into the Amazon in Brazil. Following delivery on 4 November, the ‘Rio Negro’ will initially be deployed in Hamburg Sud's New Good Hope Express Service, which connects Asia and South Africa with South America East Coast. The vessel is then scheduled to be phased into the shipping group's Europe to South America East Coast Service in March 2009.
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Thursday, October 30, 2008
Shanghai Waigaoqiao delivers world's first VLCC built to Common Structural Rules
Shanghai : Shanghai Waigaoqiao Shipyard delivered to Singapores Ocean Tankers (Pte) Ltd becoming the first very large crude carrier (VLCC) built to Common Structural Rules (CSR).
The 318,000-dwt Hua San, the first of 11 VLCCs confirmed to Lloyd's Register class at Shanghai Waigaoqiao, was delivered to the owners five months ahead of schedule, ushering in a CSR era that is committed to increase the durability of hull structures for the modern fleet. "We are obviously very proud to have supported the design, construction and now delivery of the world's first VLCC built to Common Structural Rules. That the vessel was delivered well ahead of schedule is a testimony to the professionalism of our partnership with Ocean Tankers and Waigaoqiao Shipyard," said Nick Brown, General Manager China for Lloyd's Register Asia. "With a global recession looming and financing harder to find, the industry spotlight rightly has intensified on maintaining the construction of quality ships. The success of this project is the result of our strategy to work with yards and owners who share our vision for quality." The Hua San is the first of an initial order of six VLCCs ordered by Ocean Tankers at Shanghai Waigaoqiao, four of which were classed to Lloyd's Register.
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The 318,000-dwt Hua San, the first of 11 VLCCs confirmed to Lloyd's Register class at Shanghai Waigaoqiao, was delivered to the owners five months ahead of schedule, ushering in a CSR era that is committed to increase the durability of hull structures for the modern fleet. "We are obviously very proud to have supported the design, construction and now delivery of the world's first VLCC built to Common Structural Rules. That the vessel was delivered well ahead of schedule is a testimony to the professionalism of our partnership with Ocean Tankers and Waigaoqiao Shipyard," said Nick Brown, General Manager China for Lloyd's Register Asia. "With a global recession looming and financing harder to find, the industry spotlight rightly has intensified on maintaining the construction of quality ships. The success of this project is the result of our strategy to work with yards and owners who share our vision for quality." The Hua San is the first of an initial order of six VLCCs ordered by Ocean Tankers at Shanghai Waigaoqiao, four of which were classed to Lloyd's Register.
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Anglo-Italian alliance formed to pursue a major UK Naval auxiliary shipbuilding contract
Paris: Italian Shipbuilding Company, Fincatieri, and British shipyard, Northwestern Ship repairers and Shipbuilders, announced their alliance at the Euronaval Exhibition on October 28, 2008.
This alliance will enhance support to Fincantieri in pursuit of the tender to build six fleet replenishment tankers for UK Ministry of Defence (MOD) programme known as the MARS project. The MARS project is an International competition being managed under European Union guidelines. If successful in winning the MARS contract, this will maintain substantial employment in Italy and the UK. Alberto Maestrini, Executive Senior Vice President of Fincantieri Naval vessel business unit, said: “This is part of a larger strategy of collaboration with NSL and if successful with the MARS tender, the companies will pursue other business opportunities in the naval auxiliary, naval export and offshore markets. “The alliance provides Fincantieri with a strong professional ally strategically based in the UK.”
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This alliance will enhance support to Fincantieri in pursuit of the tender to build six fleet replenishment tankers for UK Ministry of Defence (MOD) programme known as the MARS project. The MARS project is an International competition being managed under European Union guidelines. If successful in winning the MARS contract, this will maintain substantial employment in Italy and the UK. Alberto Maestrini, Executive Senior Vice President of Fincantieri Naval vessel business unit, said: “This is part of a larger strategy of collaboration with NSL and if successful with the MARS tender, the companies will pursue other business opportunities in the naval auxiliary, naval export and offshore markets. “The alliance provides Fincantieri with a strong professional ally strategically based in the UK.”
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Grounded Containership Rescued
Netherlands-based towage and salvage specialist, Multraship, and Belgian salvage operator, URS Salvage & Maritime Contracting, have refloated the 39,900gt, Singapore-flag containership Kota Lagu.
Kota Lagu was grounded in the River Scheldt with hazardous cargo on board on October 25. The 2006-built vessel grounded after suffering rudder failure near Ossenisse on the River Scheldt, between Hansweert and Antwerp, during ebb tide. Working under a Lloyd’s Open Form agreement, Multraship and URS immediately mobilized an experienced salvage team and six tugs. The salvors tried to refloat the vessel on the same tide, but the water level had fallen too far and the operation had to wait for the next tide, at around midnight. Because the vessel had hazardous cargo on board, local authorities declared a ‘High Alert’ situation, and the salvors accordingly made provision for a potential major incident by mobilizing further tugs, salvage professionals, booms, pumps, and lighters for bunker discharge. In the event, eight tugs were able to refloat the vessel on the next tide and subsequently towed it to the Scheldepoort yard at Flushing, where it was redelivered to its owners.
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Kota Lagu was grounded in the River Scheldt with hazardous cargo on board on October 25. The 2006-built vessel grounded after suffering rudder failure near Ossenisse on the River Scheldt, between Hansweert and Antwerp, during ebb tide. Working under a Lloyd’s Open Form agreement, Multraship and URS immediately mobilized an experienced salvage team and six tugs. The salvors tried to refloat the vessel on the same tide, but the water level had fallen too far and the operation had to wait for the next tide, at around midnight. Because the vessel had hazardous cargo on board, local authorities declared a ‘High Alert’ situation, and the salvors accordingly made provision for a potential major incident by mobilizing further tugs, salvage professionals, booms, pumps, and lighters for bunker discharge. In the event, eight tugs were able to refloat the vessel on the next tide and subsequently towed it to the Scheldepoort yard at Flushing, where it was redelivered to its owners.
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Titanic sister ship’s wreck to become seabed museum
Athens: The wreck of the hospital ship Britannic, sister ship of the Titanic, that sank in 1916 is to become a seabed museum.
Titanic sank in 1912. Nearly 92 years have elapsed since Captain Charles Bartlett, standing in his pyjamas on the bridge of the biggest vessel in the world, the HMHS Britannic, gave the call to abandon the ship. The Britannic, used as a wartime hospital, was discovered at a depth of 122 metres by explorer Jacques Cousteau in 1975.
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Titanic sank in 1912. Nearly 92 years have elapsed since Captain Charles Bartlett, standing in his pyjamas on the bridge of the biggest vessel in the world, the HMHS Britannic, gave the call to abandon the ship. The Britannic, used as a wartime hospital, was discovered at a depth of 122 metres by explorer Jacques Cousteau in 1975.
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Meyer Werft delivers Celebrity Solstice
German shipbuilders Meyer Werft has delivered the ‘Celebrity Solstice' to Celebrity Cruises in Eemshaven.
The ‘Celebrity Solstice' is an environmentally friendly ship, with energy saving technology and high efficiency components. The vessel features a new design to increase safety and provide entertainment for its 2,852 passengers. The ship will be officially named in the United States on November 14. The Meyer Werft shipyard, based in Papenburg, is building five cruise liners for US-based Celebrity Cruises.
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The ‘Celebrity Solstice' is an environmentally friendly ship, with energy saving technology and high efficiency components. The vessel features a new design to increase safety and provide entertainment for its 2,852 passengers. The ship will be officially named in the United States on November 14. The Meyer Werft shipyard, based in Papenburg, is building five cruise liners for US-based Celebrity Cruises.
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Nominations sought for AMSI Business Person of the Year 2009
The Society of Maritime Industries, through its constituent association the Association of Marine Scientific Industries (AMSI), is inviting nominations for its annual award to recognise individuals who have contributed to the business of the marine science and technology sector in UK.
The Society’s aims are to promote and support the domestic and export business of UK companies, to improve the UK, European and international business environment for the maritime industries, to facilitate communication and networking in the industry, to provide marketing and other services to companies in the Society of Maritime Industries. These aims are delivered through the Society of Maritime Industries five constituent associations: Association of British Offshore Industries (ABOI), Association of Marine Scientific Industries (AMSI), British Maritime Equipment Association (BMEA), British Naval Equipment Association (BNEA), and the Ports and Terminals Group (PTG). The Society’s Chief Executive, John Murray commented, “the UK marine science sector is a vibrant industry epitomised by the enthusiastic and successful entrepreneurs which work within it. This award will highlight the important work of the sector particularly at a time of enhanced public concern for the marine environment and its close relationship to climate change.” Nominations are now invited for the AMSI Business Person of the Year 2009 which will be presented at a special ceremony during Ocean Business 2009 at Southampton, UK in March 2009.
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The Society’s aims are to promote and support the domestic and export business of UK companies, to improve the UK, European and international business environment for the maritime industries, to facilitate communication and networking in the industry, to provide marketing and other services to companies in the Society of Maritime Industries. These aims are delivered through the Society of Maritime Industries five constituent associations: Association of British Offshore Industries (ABOI), Association of Marine Scientific Industries (AMSI), British Maritime Equipment Association (BMEA), British Naval Equipment Association (BNEA), and the Ports and Terminals Group (PTG). The Society’s Chief Executive, John Murray commented, “the UK marine science sector is a vibrant industry epitomised by the enthusiastic and successful entrepreneurs which work within it. This award will highlight the important work of the sector particularly at a time of enhanced public concern for the marine environment and its close relationship to climate change.” Nominations are now invited for the AMSI Business Person of the Year 2009 which will be presented at a special ceremony during Ocean Business 2009 at Southampton, UK in March 2009.
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Wednesday, October 29, 2008
Fincantieri launches Carnival Dream
The biggest passenger ship, Carnival Dream ever built in Italy was launched in Monfalcone last week.
It will be flagship of Carnival Cruise Line’s fleet, the main operator in the global cruise ship sector. The 306-metre vessel carries 130,000 tonnes, has 2,559 cabins and can accommodate 4,631 passengers with 1369 crew. ‘Carnival Dream’ will undergo outfitting operations in the next months and will feature two water parks located on the open decks.
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It will be flagship of Carnival Cruise Line’s fleet, the main operator in the global cruise ship sector. The 306-metre vessel carries 130,000 tonnes, has 2,559 cabins and can accommodate 4,631 passengers with 1369 crew. ‘Carnival Dream’ will undergo outfitting operations in the next months and will feature two water parks located on the open decks.
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Sydney container port to be expanded
One of the largest port projects to be undertaken in Australia in the last 30 years will see major infrastructure expansions at Sydney's Port Botany designed to meet forecast trade increases.
The port facility handles in excess of 1.5m containers annually with international container volumes at Port Botany growing at close to 7 per cent per annum. The port's volume, estimated to be worth $US50m is expected to double in the next 20 years. The expansion project comprises a new container terminal to extend the current 6 container terminal berth facility with two stevedores servicing trade, by providing 1850 metres of extra berth length (5 berths) This will involve reclamation of over 150 acres of land, extensive dredging, dedicated road and rail access and community facilities. The project is located on the north-eastern edge of Botany Bay, approximately 12 km south of Sydney’s CBD. The site is situated between the existing container terminals at Brotherson Dock and the Parallel Runway at Sydney Airport. The container terminal extension will be accompanied by reclamation works aimed to create a tug and support vessel berth facility. In addition to the works associated with the provision of the new container terminal, Sydney Ports will undertake a comprehensive series of public amenity and foreshore enhancement projects adjacent to the new terminal development.
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The port facility handles in excess of 1.5m containers annually with international container volumes at Port Botany growing at close to 7 per cent per annum. The port's volume, estimated to be worth $US50m is expected to double in the next 20 years. The expansion project comprises a new container terminal to extend the current 6 container terminal berth facility with two stevedores servicing trade, by providing 1850 metres of extra berth length (5 berths) This will involve reclamation of over 150 acres of land, extensive dredging, dedicated road and rail access and community facilities. The project is located on the north-eastern edge of Botany Bay, approximately 12 km south of Sydney’s CBD. The site is situated between the existing container terminals at Brotherson Dock and the Parallel Runway at Sydney Airport. The container terminal extension will be accompanied by reclamation works aimed to create a tug and support vessel berth facility. In addition to the works associated with the provision of the new container terminal, Sydney Ports will undertake a comprehensive series of public amenity and foreshore enhancement projects adjacent to the new terminal development.
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Tsuneishi Holdings to specialize in bulk carriers
Hiroshima-based shipbuilding corporation Tsuneishi Holdings is planning to focus on bulk carriers in a bid to out-win its competitors.
Currently, the corporation has a hold over approximately 30 percent of the Panamax bulk carriers market, and made a profit of US$15 million in 2007. President of Tsuneishi Holdings, Katsushige Kambara, was quoted as saying: "Unlike major shipbuilders we do not have extra resources to build different types of carriers. It is best for us to focus on bulk carriers to take advantage of our strength." With factories already established in the Philippines and China, the corporation also plans to strengthen its human resource development capabilities overseas by employing more local engineers. Kambara says by in the face of current economic difficulties, employing non-Japanese nationals it will help Tsuneishi to cut labour costs by two thirds.
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Currently, the corporation has a hold over approximately 30 percent of the Panamax bulk carriers market, and made a profit of US$15 million in 2007. President of Tsuneishi Holdings, Katsushige Kambara, was quoted as saying: "Unlike major shipbuilders we do not have extra resources to build different types of carriers. It is best for us to focus on bulk carriers to take advantage of our strength." With factories already established in the Philippines and China, the corporation also plans to strengthen its human resource development capabilities overseas by employing more local engineers. Kambara says by in the face of current economic difficulties, employing non-Japanese nationals it will help Tsuneishi to cut labour costs by two thirds.
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Latest Corvette for UAE Navy
Production work has begun on the last of six Baynunah corvettes being built for the UAE Navy by Abu Dhabi Ship Building in the region’s largest-ever naval construction program.
The Commander of UAE Naval Forces, Rear Admiral Ahmed Al Sabab Al Tenaiji, activated a computerized plasma cutting machine at ADSB’s Musaffah complex to begin cutting the steel for the sixth and final 72m vessel. The Baynunah Class vessels are highly sophisticated multi-mission corvettes equipped with cutting-edge combat systems and have the capability to perform a wide range of military operations, including defense against both air and surface threats. The vessel has been designed by the French company Constructions Mecaniques De Normandie (CMN). The first of class vessel is now being outfitted at CMN’s. Cherbourg Yard under sub-contract from ADSB and the remaining five are under construction at ADSB. As well as starting the steel cutting for the sixth vessel, Admiral Al Tenaiji also performed the ceremonial keel laying of the fifth vessel.
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The Commander of UAE Naval Forces, Rear Admiral Ahmed Al Sabab Al Tenaiji, activated a computerized plasma cutting machine at ADSB’s Musaffah complex to begin cutting the steel for the sixth and final 72m vessel. The Baynunah Class vessels are highly sophisticated multi-mission corvettes equipped with cutting-edge combat systems and have the capability to perform a wide range of military operations, including defense against both air and surface threats. The vessel has been designed by the French company Constructions Mecaniques De Normandie (CMN). The first of class vessel is now being outfitted at CMN’s. Cherbourg Yard under sub-contract from ADSB and the remaining five are under construction at ADSB. As well as starting the steel cutting for the sixth vessel, Admiral Al Tenaiji also performed the ceremonial keel laying of the fifth vessel.
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Timken JV breaks ground on wind plant
Canton, Ohio: Timken XEMC (Hunan) Bearings Co., a joint venture of The Timken Company, has broken ground on a new wind energy plant to be constructed in China.
First announced in December 2007, the US$38 million facility will be located in Xiangtan in China's Hunan province to manufacture high-performance ultra-large bore bearings for the main shafts of large scale wind turbines. Bearings produced at the facility are destined solely for the China region and are expected to be available in 2010.Xiangtan Electric Manufacturing Co. Ltd. (XEMC) is partner in the joint venture. Timken holds an 80-percent ownership stake in the venture with XEMC. According to Timken, its alloy steel expertise, power-transmission design and precision manufacturing capabilities combined with XEMC's leadership position in Chinese heavy equipment manufacturing are well-positioned for China's rapidly growing wind energy industry. The joint venture is expected eventually to employ more than 100 people.
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First announced in December 2007, the US$38 million facility will be located in Xiangtan in China's Hunan province to manufacture high-performance ultra-large bore bearings for the main shafts of large scale wind turbines. Bearings produced at the facility are destined solely for the China region and are expected to be available in 2010.Xiangtan Electric Manufacturing Co. Ltd. (XEMC) is partner in the joint venture. Timken holds an 80-percent ownership stake in the venture with XEMC. According to Timken, its alloy steel expertise, power-transmission design and precision manufacturing capabilities combined with XEMC's leadership position in Chinese heavy equipment manufacturing are well-positioned for China's rapidly growing wind energy industry. The joint venture is expected eventually to employ more than 100 people.
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Tuesday, October 28, 2008
BG confirms A$5.6bn QGC takeover
UK gas giant BG Group is to acquire Australian coal bed methane leader Queensland Gas Company (QGC) in a friendly on-market takeover valued at about A$5.6 billion.
BG has agreed to buy all outstanding shares of QGC for $5.75 each for A$5.2 billion, an 80% premium to QGC’s share prior to the suspension of trading on Friday. The company already owns 9.9% of QGC under the terms of an alliance struck earlier this year to develop a CBM-fed liquefied natural gas project in Queensland. As part of today’s deal, AGL, QGC’s biggest single shareholder, said it would sell its 22% stake to BG for A$1.18 billion. BG said it would also buy the stakes of major shareholders ANZ Infrastructure Services and Sentient Group, as well as shares held by QGC’s senior management, together comprising an additional 17.1% of the company. BG said its offer was final and would not be increased in the face of any competing bid. QGC’s management recommended the offer to shareholders. Managing director Richard Cottee said that BG and QGC remained committed to developing the planned Curtis LNG project in Queensland. As part of plans to develop the Curtis project, BG earlier this year took a 20% stake in QGC’s CBM assets in the Surat basin in Queensland.
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BG has agreed to buy all outstanding shares of QGC for $5.75 each for A$5.2 billion, an 80% premium to QGC’s share prior to the suspension of trading on Friday. The company already owns 9.9% of QGC under the terms of an alliance struck earlier this year to develop a CBM-fed liquefied natural gas project in Queensland. As part of today’s deal, AGL, QGC’s biggest single shareholder, said it would sell its 22% stake to BG for A$1.18 billion. BG said it would also buy the stakes of major shareholders ANZ Infrastructure Services and Sentient Group, as well as shares held by QGC’s senior management, together comprising an additional 17.1% of the company. BG said its offer was final and would not be increased in the face of any competing bid. QGC’s management recommended the offer to shareholders. Managing director Richard Cottee said that BG and QGC remained committed to developing the planned Curtis LNG project in Queensland. As part of plans to develop the Curtis project, BG earlier this year took a 20% stake in QGC’s CBM assets in the Surat basin in Queensland.
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Wärtsilä China to start New Year with new president
Shanghai: John Zhu will take over as president of Wärtsilä China as of January 1, 2009 from current president Clas-Eirik Strand who is to retire in February when he reaches his retirement age.
Zhu has significant experience in leading and developing industrial business operations, his most recent appointment having been as country manager for Eaton Truck & Bus Components in Shanghai, China, a position he has held since 2005. He has also held other managerial positions in the automotive industry and in the consultancy business, both in China and in the USA. Wartsila China currently has approximately 1600 individuals employed in its subsidiary and joint venture companies, located in Shanghai, Dalian, Guangzhou, Beijing, Hong Kong, Panyu, Wuxi, Zhenjiang and Qingdao. During recent years, it has begun the production of propulsion and engines at its subsidiary and joint venture companies' plants. Last year, Wärtsilä opened a large new reconditioning workshop in Shanghai.
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Zhu has significant experience in leading and developing industrial business operations, his most recent appointment having been as country manager for Eaton Truck & Bus Components in Shanghai, China, a position he has held since 2005. He has also held other managerial positions in the automotive industry and in the consultancy business, both in China and in the USA. Wartsila China currently has approximately 1600 individuals employed in its subsidiary and joint venture companies, located in Shanghai, Dalian, Guangzhou, Beijing, Hong Kong, Panyu, Wuxi, Zhenjiang and Qingdao. During recent years, it has begun the production of propulsion and engines at its subsidiary and joint venture companies' plants. Last year, Wärtsilä opened a large new reconditioning workshop in Shanghai.
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Cosco Pacific suffers its biggest plunge
Hong Kong: Cosco Pacific Ltd, Asia's third-largest container-terminal operator, plunged the most ever in Hong Kong trading on concerns that a global economic slowdown will damp ocean traffic.
The company dived 26% yesterday, the most since its 1994 initial public offering, to close at HK$3.40. Parent China Cosco Holdings Co, Asia's biggest shipping company by market value, dropped 23%, the most since its 2005 IPO, to HK$2.62. Hong Kong's Hang Seng Index also plunged the most in more than a decade on concerns the economic slowdown with damp earnings. "The shipping industry is going through a downturn and shipping companies tend to be hurt badly when the market slumps,'' said Cai Bin, an analyst at Pingan Securities Co in Shenzhen. Sinotrans Shipping Ltd plunged 20% to HK$1.00. Orient Overseas (International) Ltd slipped 18% to HK$9.94. In Singapore, Neptune Orient Lines Ltd dropped 11% to S$1.03.
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The company dived 26% yesterday, the most since its 1994 initial public offering, to close at HK$3.40. Parent China Cosco Holdings Co, Asia's biggest shipping company by market value, dropped 23%, the most since its 2005 IPO, to HK$2.62. Hong Kong's Hang Seng Index also plunged the most in more than a decade on concerns the economic slowdown with damp earnings. "The shipping industry is going through a downturn and shipping companies tend to be hurt badly when the market slumps,'' said Cai Bin, an analyst at Pingan Securities Co in Shenzhen. Sinotrans Shipping Ltd plunged 20% to HK$1.00. Orient Overseas (International) Ltd slipped 18% to HK$9.94. In Singapore, Neptune Orient Lines Ltd dropped 11% to S$1.03.
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Drydocks World to open US$300 million marine centre
Dubai: Drydocks World is set to open a US$300 million marine services centre in Indonesia as part of their expansion plans in South East Asia.
Chief Executive Officer Geoff Taylor said that it was a joint venture with Dubai-based steel fabrication firm Fabtech, in which Drydocks will command 80 percent of the stakes. The centre is estimated to be 1.72 square kilometres in size, which makes it Drydock’s most ambitious project to date.
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Chief Executive Officer Geoff Taylor said that it was a joint venture with Dubai-based steel fabrication firm Fabtech, in which Drydocks will command 80 percent of the stakes. The centre is estimated to be 1.72 square kilometres in size, which makes it Drydock’s most ambitious project to date.
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United States to help save Coral Triangle
The United States Agency for International Development has pledged almost US$40 million to support the preservation of the Coral Triangle, in the Solomon Islands.
The Triangle is a large area around the Solomon Islands, Philippines, Papua New Guinea and Indonesia that contains mangroves, coral and fish. It is vulnerable to climate change, pollution and human activity. The US Ambassador to the Solomon Islands Leslie Rowe told that the five-year project to protect the coast and its biodiversity would benefit the people of the Solomon Islands.
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The Triangle is a large area around the Solomon Islands, Philippines, Papua New Guinea and Indonesia that contains mangroves, coral and fish. It is vulnerable to climate change, pollution and human activity. The US Ambassador to the Solomon Islands Leslie Rowe told that the five-year project to protect the coast and its biodiversity would benefit the people of the Solomon Islands.
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Monday, October 27, 2008
DSIC announces construction of gigantic new yard
State-run Dalian Shipbuilding Industry Co. (DSIC) is to spend five years building a new gigantic shipbuilding base on Changxing Island off the port city of Dalian.
The new yard will boast four big docks. An offshore structure plant, a repair yard and a heavy machinery factory will also be built at the base. According to DSIC this mammoth project costing 40bn yuan will become the largest yard in China stretching over 6m sq m. STX and IMC are both on Changxing Island already.
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The new yard will boast four big docks. An offshore structure plant, a repair yard and a heavy machinery factory will also be built at the base. According to DSIC this mammoth project costing 40bn yuan will become the largest yard in China stretching over 6m sq m. STX and IMC are both on Changxing Island already.
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OOCL looks to slash capacity
Hong Kong: Orient Overseas Container Line may cut capacity 16 percent.
"There is no doubt we're heading for a very tough market," Chief Financial Officer Ken Cambie told the adding that the cut may be considered only in the "worst-case" scenario. The company is currently in talks with partners in the Grand Alliance on whether to idle ships, Cambie said in Singapore.
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"There is no doubt we're heading for a very tough market," Chief Financial Officer Ken Cambie told the adding that the cut may be considered only in the "worst-case" scenario. The company is currently in talks with partners in the Grand Alliance on whether to idle ships, Cambie said in Singapore.
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Booming growth for Diamond Offshore
Houston: Diamond Offshore Drilling has reported a net income of US$310.7 million for the third quarter of 2008 compared with a net income of US$205.5 million in 2007.
Revenue in the third quarter of 2008 was US$900 million, compared with revenue of US$644.0 million for the third quarter of 2007. Net income for the third quarter of 2008 was adversely impacted by losses of US$25.1 million related to foreign currency forward exchange contracts and a casualty loss of $6.3 million related to damages sustained from Hurricane Ike. For the nine months ended September 30, 2008, the company reported net income of US$1,017.6 million compared with net income of US$681.6 million for the same period in 2007. Revenue for the nine months ended September 30, 2008, was $2.6 billion. The Company also announced that it has signed a two year contract with energy company Total E&P Angola for the fourth generation semi-submersible ‘Ocean Valiant’ that could earn maximum revenue, excluding mobilization fees, totaling approximately US$452 million.
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Revenue in the third quarter of 2008 was US$900 million, compared with revenue of US$644.0 million for the third quarter of 2007. Net income for the third quarter of 2008 was adversely impacted by losses of US$25.1 million related to foreign currency forward exchange contracts and a casualty loss of $6.3 million related to damages sustained from Hurricane Ike. For the nine months ended September 30, 2008, the company reported net income of US$1,017.6 million compared with net income of US$681.6 million for the same period in 2007. Revenue for the nine months ended September 30, 2008, was $2.6 billion. The Company also announced that it has signed a two year contract with energy company Total E&P Angola for the fourth generation semi-submersible ‘Ocean Valiant’ that could earn maximum revenue, excluding mobilization fees, totaling approximately US$452 million.
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MPA leads major oil spill exercise
Singapore: The Maritime and Port Authority of Singapore led a multi-agency joint oil spill exercise on October 17, 2008, to test and demonstrate Singapore’s readiness to respond to oil spills.
Codenamed JOSE 2008, 8,000 tonnes of crude oil from a very large crude carrier was leaked into the sea about 2.8 kilometres from Raffles Lighthouse. The first response craft arrived within 30 minutes. A Hercules aircraft equipped with an aerial spray system, introduced this year to provide a swift and efficient response to large spills, immediately followed. Sprays from dispersant boats and oil containment booms were also deployed around the VLCC as well as further downstream. Captain M Segar, Group Director at MPA, “As the world’s major hub port, it is vital that Singapore remains vigilant at all times. “MPA, together with other agencies and the industry, has drawn up comprehensive contingency plans which are tested via regular, multi-agency exercises to ensure the country’s preparedness to respond to marine incidents. “This year’s exercise demonstrates the close co-ordination of both aircraft and vessel based dispersant spraying systems in the busy waters of the port and Singapore Straits. This further ensures an effective and swift response to oil spill incidents, should prevention fail.
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Codenamed JOSE 2008, 8,000 tonnes of crude oil from a very large crude carrier was leaked into the sea about 2.8 kilometres from Raffles Lighthouse. The first response craft arrived within 30 minutes. A Hercules aircraft equipped with an aerial spray system, introduced this year to provide a swift and efficient response to large spills, immediately followed. Sprays from dispersant boats and oil containment booms were also deployed around the VLCC as well as further downstream. Captain M Segar, Group Director at MPA, “As the world’s major hub port, it is vital that Singapore remains vigilant at all times. “MPA, together with other agencies and the industry, has drawn up comprehensive contingency plans which are tested via regular, multi-agency exercises to ensure the country’s preparedness to respond to marine incidents. “This year’s exercise demonstrates the close co-ordination of both aircraft and vessel based dispersant spraying systems in the busy waters of the port and Singapore Straits. This further ensures an effective and swift response to oil spill incidents, should prevention fail.
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Sunday, October 26, 2008
Chilean port Valparaiso expects 11m tonnes in 2008
Central Chile's Valparaíso port EPV expects to surpass 11 million tonnes in cargo handling this year.
The state-owned autonomous port firm expects to see no variations in its 2008 projections, the official said, adding that the global financial turmoil has not had any effect on the amount of cargo imported and exported from the facility this year. The port, which handles fractioned and container cargo, is the highest TEU handler in the country. In January-September this year, the port handled 750,905 TEUs.
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The state-owned autonomous port firm expects to see no variations in its 2008 projections, the official said, adding that the global financial turmoil has not had any effect on the amount of cargo imported and exported from the facility this year. The port, which handles fractioned and container cargo, is the highest TEU handler in the country. In January-September this year, the port handled 750,905 TEUs.
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EnCana in service after blasts
Canadian player EnCana said pipelines in British Columbia damaged in separate bombings earlier this month have been repaired and shipments on them have resumed.
A 12-inch pipe able to send 60 million cubic feet of gas a day, and an 8-inch line, moving 40 million a day, returned to service over the past few days after testing, Alan Boras, a spokesman for the Calgary-based company said. Investigators from the Royal Canadian Mounted Police continue to probe the explosions on the lines, which carry sour natural gas. The explosions happened near Dawson Creek, British Columbia, about 890 kilometres northwest of Calgary. The pipelines are in a remote region that is difficult to monitor. The company has not received any direct demands, Boras said last week. Two processing plants in the region were able to continue operations, taking gas from other lines, the company said. The second blast occurred at a junction where pipelines come from below ground for short distances. The second explosion was discovered 16 October by pipeline workers.
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A 12-inch pipe able to send 60 million cubic feet of gas a day, and an 8-inch line, moving 40 million a day, returned to service over the past few days after testing, Alan Boras, a spokesman for the Calgary-based company said. Investigators from the Royal Canadian Mounted Police continue to probe the explosions on the lines, which carry sour natural gas. The explosions happened near Dawson Creek, British Columbia, about 890 kilometres northwest of Calgary. The pipelines are in a remote region that is difficult to monitor. The company has not received any direct demands, Boras said last week. Two processing plants in the region were able to continue operations, taking gas from other lines, the company said. The second blast occurred at a junction where pipelines come from below ground for short distances. The second explosion was discovered 16 October by pipeline workers.
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Gulf Marine goes global
Shanghai: In the space of just 15 weeks a marine lube company has been established with a remarkable global reach.
Established July 15 Gulf Marine, a new subsidiary of Gulf Oil, has made a dramatic impact on the stretched lube market. With many employees who used to work at France's Total Lubmarine Gulf Marine now covers 300 ports in 36 countries and according to Caroline Huot, ceo, the firm will be covering 430 ports in 45 countries by year end. Japan and the US will be onstream by January with the company fully global covering 700 ports by the end of the first quarter 2009. Within the first 15 weeks of existence Gulf Marine has bagged more than 100 ships under contract. Barges are now in operation in Hong Kong, Rotterdam, Fujairah, and Singapore - the latter is apparently the largest lube barge in the world at 1,700 dwt.
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Established July 15 Gulf Marine, a new subsidiary of Gulf Oil, has made a dramatic impact on the stretched lube market. With many employees who used to work at France's Total Lubmarine Gulf Marine now covers 300 ports in 36 countries and according to Caroline Huot, ceo, the firm will be covering 430 ports in 45 countries by year end. Japan and the US will be onstream by January with the company fully global covering 700 ports by the end of the first quarter 2009. Within the first 15 weeks of existence Gulf Marine has bagged more than 100 ships under contract. Barges are now in operation in Hong Kong, Rotterdam, Fujairah, and Singapore - the latter is apparently the largest lube barge in the world at 1,700 dwt.
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Shipbuilding demand slowing
A swift drop in freight rate is predicted to occur due to an oversupply of new large-sized vessels set to be built in 2009.
Demand for general-purpose vessels - such as tankers, bunkers and container ships have already dropped, and is not expected to increase. The value of steel plates, which have been contributing to heightened newbuilding prices, is also likely to fall following a decrease in raw material prices.
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Demand for general-purpose vessels - such as tankers, bunkers and container ships have already dropped, and is not expected to increase. The value of steel plates, which have been contributing to heightened newbuilding prices, is also likely to fall following a decrease in raw material prices.
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Saturday, October 25, 2008
M Ship - Patent for M-Hull Technology
The European Patent Office has granted M Ship Co., LLC, a patent for its revolutionary M-hull technology.
The maritime research and design firm also has entered into a Collaborative Research and Development Agreement (CRADA) with the Space and Naval Warfare Systems Center (SPAWAR) in San Diego. The European patent, titled “M-Shaped Boat Hull,” granted on Sept. 24, extends M Ship’s technology reach to Europe, offering new military, commercial and recreational markets for the proprietary M-hull technology. Under the terms of the agreement with SPAWAR, M Ship and SPAWAR will share information as it relates to the development of M Ship’s proprietary M-hull technology for unmanned surface vehicle applications. The patented M-hull technology is available only from M Ship Co., LLC., through licensing or construction agreements. The technology or specific vessel designs may be purchased by government and military agencies from M Ship Co. under sole-source acquisition contracts.
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The maritime research and design firm also has entered into a Collaborative Research and Development Agreement (CRADA) with the Space and Naval Warfare Systems Center (SPAWAR) in San Diego. The European patent, titled “M-Shaped Boat Hull,” granted on Sept. 24, extends M Ship’s technology reach to Europe, offering new military, commercial and recreational markets for the proprietary M-hull technology. Under the terms of the agreement with SPAWAR, M Ship and SPAWAR will share information as it relates to the development of M Ship’s proprietary M-hull technology for unmanned surface vehicle applications. The patented M-hull technology is available only from M Ship Co., LLC., through licensing or construction agreements. The technology or specific vessel designs may be purchased by government and military agencies from M Ship Co. under sole-source acquisition contracts.
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Globus announces sale of M/V "Ocean Globe"
Globus Maritime Limited announced that in light of the prevailing market conditions it has renegotiated the Memorandum of Agreement with Romanos Maritime Ltd.
Romanos Maritime Ltd is a client of Nikator Navigation SA, as announced on 10 September 2008, for the sale of the M/V "Ocean Globe", a 1995-built handymax dry bulk carrier. The Company has renegotiated with the Buyer a reduced price of US$37 million in cash. As further security, the deposit paid by the Buyer was increased to a total amount of US$10,450,000 representing approximately 28% of the new price. Delivery of the vessel to the new owners is expected to take place during the first week of November 2008. Upon completion of the sale, and taking depreciation into account, the Company expects to realize a capital gain of approximately US$15 million as the vessel had been purchased in July 2006 for US$25 million. Globus intends to utilize the proceeds from this sale to strengthen its balance sheet. The reduction in dry bulk trade has caused a major correction in the dry freight market, and consequently in vessel values. Furthermore, the credit crisis has caused a number of banks to withdraw previously agreed financing for vessels and regrettably we have seen a number of previously agreed vessel sales being either severely renegotiated or "dropped" all together.”
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Romanos Maritime Ltd is a client of Nikator Navigation SA, as announced on 10 September 2008, for the sale of the M/V "Ocean Globe", a 1995-built handymax dry bulk carrier. The Company has renegotiated with the Buyer a reduced price of US$37 million in cash. As further security, the deposit paid by the Buyer was increased to a total amount of US$10,450,000 representing approximately 28% of the new price. Delivery of the vessel to the new owners is expected to take place during the first week of November 2008. Upon completion of the sale, and taking depreciation into account, the Company expects to realize a capital gain of approximately US$15 million as the vessel had been purchased in July 2006 for US$25 million. Globus intends to utilize the proceeds from this sale to strengthen its balance sheet. The reduction in dry bulk trade has caused a major correction in the dry freight market, and consequently in vessel values. Furthermore, the credit crisis has caused a number of banks to withdraw previously agreed financing for vessels and regrettably we have seen a number of previously agreed vessel sales being either severely renegotiated or "dropped" all together.”
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US rig count down by 14
The number of rigs actively exploring for oil and natural gas in the US was down by 14 this week to 1976. Of the rigs running nationwide, 1529 were exploring for natural gas and 423 for oil.
Twelve were listed as miscellaneous. Canadian rig count was up 10 to 447 while the US offshore rig count is 73, down three from last week. Of the major oil- and gas-producing states, Louisiana lost nine rigs to total 189, Oklahoma lost six to total 187 and Texas lost five to total 920. North Dakota added nine to total 83 while New Mexico remained the same at 93 and Wyoming added two to total 77. Alaska remained the same at seven, Arkansas remained the same at 57, California added three to total 48 and Colorado gained two to total 124.
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Twelve were listed as miscellaneous. Canadian rig count was up 10 to 447 while the US offshore rig count is 73, down three from last week. Of the major oil- and gas-producing states, Louisiana lost nine rigs to total 189, Oklahoma lost six to total 187 and Texas lost five to total 920. North Dakota added nine to total 83 while New Mexico remained the same at 93 and Wyoming added two to total 77. Alaska remained the same at seven, Arkansas remained the same at 57, California added three to total 48 and Colorado gained two to total 124.
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World's first CNG propelled container feeder ship launched
Shanghai: This week has seen a dramatic ship design first come to fruition.
The Jenjosh Group launched the world's first compressed natural gas propelled container feeder ship from a small yard along the Yangtze. The NP Jenjosh is the first in a series to be commissioned by the pioneering Singaporean company and built at Wuhu Dajiang shipyard. A proud Capt Jimmy Ng, managing director of Jenjosh, relayed by email: 'The world's first CNG propelled container feeder vessel is born.'
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The Jenjosh Group launched the world's first compressed natural gas propelled container feeder ship from a small yard along the Yangtze. The NP Jenjosh is the first in a series to be commissioned by the pioneering Singaporean company and built at Wuhu Dajiang shipyard. A proud Capt Jimmy Ng, managing director of Jenjosh, relayed by email: 'The world's first CNG propelled container feeder vessel is born.'
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Independent assessments question Ukrainian Navy
The Ukrainian Ministry of Defense claims to have 40 combat ships in its Navy, but independent assessments are questioning this number.
Diesel submarine ‘Zaporozhye’ has experts dismissing its suitability in combat operations. It has stayed near the pier since 1997, and has been undergoing lengthy repairs. ‘Hetman Sagajdachny’, often classified as a frigate, also misses the mark. It was originally built as a border patrol ship for marine regiments of the soviet border guards, but it does not have the fire capabilities of modern anti-submarine patrol ships. The ship also does not have the anti-ship missiles of today’s frigates. Other frigates ‘Nikolaev’, ‘Dnepropetrovsk’ and ‘Sevastopol’ are also becoming out of date, making them increasingly difficult to integrate into a combat unit.
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Diesel submarine ‘Zaporozhye’ has experts dismissing its suitability in combat operations. It has stayed near the pier since 1997, and has been undergoing lengthy repairs. ‘Hetman Sagajdachny’, often classified as a frigate, also misses the mark. It was originally built as a border patrol ship for marine regiments of the soviet border guards, but it does not have the fire capabilities of modern anti-submarine patrol ships. The ship also does not have the anti-ship missiles of today’s frigates. Other frigates ‘Nikolaev’, ‘Dnepropetrovsk’ and ‘Sevastopol’ are also becoming out of date, making them increasingly difficult to integrate into a combat unit.
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Friday, October 24, 2008
CMA CGM chooses Port of Gothenburg
The world's third largest container shipping company - CMA CGM - is the latest company to choose the Port of Gothenburg.
In November a new route will be opened, linking the Port of Gothenburg with the Far East. The French-owned shipping company CMA CGM, with its 377 freight vessels, is the largest shipping company in France and the third largest in the world. In November a completely new route will be opened and will become the company's first regular route to Scandinavia using its own vessels. "We are extremely pleased to have CMA CGM as a customer at the Port of Gothenburg. We can now offer Swedish companies an even better range of shipping routes to key import and export markets," says Magnus Kårestedt, Port of Gothenburg chief executive. The new route will be served by feeder vessels. The route runs from Zeebrügge in Belgium to the Port of Gothenburg and the Port of Helsingborg before heading back to Zeebrügge, where the goods are reloaded onto the company's ocean-going ships. These then head for destinations such as the Far East, including the ports of Yantian, Nansha, Shanghai and Xiamen in China. CMA CGM will make use of the rail shuttles that link the Port of Gothenburg to 24 inland terminals throughout Sweden.
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In November a new route will be opened, linking the Port of Gothenburg with the Far East. The French-owned shipping company CMA CGM, with its 377 freight vessels, is the largest shipping company in France and the third largest in the world. In November a completely new route will be opened and will become the company's first regular route to Scandinavia using its own vessels. "We are extremely pleased to have CMA CGM as a customer at the Port of Gothenburg. We can now offer Swedish companies an even better range of shipping routes to key import and export markets," says Magnus Kårestedt, Port of Gothenburg chief executive. The new route will be served by feeder vessels. The route runs from Zeebrügge in Belgium to the Port of Gothenburg and the Port of Helsingborg before heading back to Zeebrügge, where the goods are reloaded onto the company's ocean-going ships. These then head for destinations such as the Far East, including the ports of Yantian, Nansha, Shanghai and Xiamen in China. CMA CGM will make use of the rail shuttles that link the Port of Gothenburg to 24 inland terminals throughout Sweden.
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ROV Survey Vessel for Noordhoek
Noordhoek Survey B.V. announced the order of a new DPII ROV Survey Offshore Support Vessel.
The decision to introduce another new vessel to the Noordhoek fleet of offshore support vessels is the next step within the growth strategy of Noordhoek. The delivery of this new specialized vessel is scheduled for the 1st quarter of 2010. Following her delivery she will join the Noordhoek fleet and will become the third vessel in operation and the first ROV Survey dedicated offshore vessel for Noordhoek. The addition of the survey dedicated vessel will not only give considerable operational flexibility but also increases the comfort of working conditions for operational staff. This state-of-the-art vessel, which will be built at the Dutch shipyard De Hoop, will be 62 meters long, and will be equipped with Dynamic Positioning Grade 2 (DPII), diesel electric drive, with a moon pool, a 25 Tons offshore crane, Work & Inspection Class ROV systems, Tow-Fish, ROTV systems and survey suite. With accommodation for 40 persons segregated over single and double cabins she will be a comfortable vessel to work on, and will meet the latest environmental criteria while ensuring acoustically quiet operations at survey speeds. The most modern survey equipment will be installed and the systems will have full plug and play interconnectivity.
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The decision to introduce another new vessel to the Noordhoek fleet of offshore support vessels is the next step within the growth strategy of Noordhoek. The delivery of this new specialized vessel is scheduled for the 1st quarter of 2010. Following her delivery she will join the Noordhoek fleet and will become the third vessel in operation and the first ROV Survey dedicated offshore vessel for Noordhoek. The addition of the survey dedicated vessel will not only give considerable operational flexibility but also increases the comfort of working conditions for operational staff. This state-of-the-art vessel, which will be built at the Dutch shipyard De Hoop, will be 62 meters long, and will be equipped with Dynamic Positioning Grade 2 (DPII), diesel electric drive, with a moon pool, a 25 Tons offshore crane, Work & Inspection Class ROV systems, Tow-Fish, ROTV systems and survey suite. With accommodation for 40 persons segregated over single and double cabins she will be a comfortable vessel to work on, and will meet the latest environmental criteria while ensuring acoustically quiet operations at survey speeds. The most modern survey equipment will be installed and the systems will have full plug and play interconnectivity.
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Dredging up concern at Kwai Chung
Hong Kong: Millions of cubic metres of contaminated sediment will be dredged from the seabed at Kwai Chung to allow larger vessels to dock and that the move may pose an environmental danger.
Government engineers plan to remove the sediment to deepen to 17 metres the terminal basin and part of the channel leading to the port at the Kwai Chung container terminal. This would allow it to handle ultra-large container ships even during low tide, around the clock. However, it is estimated the work will generate at least 5.5 million cubic metres of contaminated mud. One-fifth of it may have to be dumped in a confined seabed pit off North Lantau. The environmental impact assessment would be carried out, the government says. Michael Lam Hon-wah, a professor on environmental chemistry at City University, said dredging the seabed could distribute heavy metals into the water, which could later re-enter the food chain. Professor Lam said Kwai Chung was an industrialized area, where untreated sewage in the past had been discharged around the nearby seabed. In addition, many ocean-going ships coated with chemicals might also have deposited the metals onto the seabed.
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Government engineers plan to remove the sediment to deepen to 17 metres the terminal basin and part of the channel leading to the port at the Kwai Chung container terminal. This would allow it to handle ultra-large container ships even during low tide, around the clock. However, it is estimated the work will generate at least 5.5 million cubic metres of contaminated mud. One-fifth of it may have to be dumped in a confined seabed pit off North Lantau. The environmental impact assessment would be carried out, the government says. Michael Lam Hon-wah, a professor on environmental chemistry at City University, said dredging the seabed could distribute heavy metals into the water, which could later re-enter the food chain. Professor Lam said Kwai Chung was an industrialized area, where untreated sewage in the past had been discharged around the nearby seabed. In addition, many ocean-going ships coated with chemicals might also have deposited the metals onto the seabed.
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Oxy to explore offshore blocks
Bahrain: Occidental Petroleum (Oxy) is seeking to expand its role in the Middle East by exploring offshore Blocks Three and Four.
Together with Bahrain Petroleum, Oxy will look at wells and seismic information from the area. President of Oxy, R. Casey Olson told the Oxford Business Group his company had a strong understanding of future trends in exploration. "This, combined with information provided by the government of Bahrain, has resulted in a number of ideas that could lead to the discovery of new oil and gas fields in the kingdom," he said.
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Together with Bahrain Petroleum, Oxy will look at wells and seismic information from the area. President of Oxy, R. Casey Olson told the Oxford Business Group his company had a strong understanding of future trends in exploration. "This, combined with information provided by the government of Bahrain, has resulted in a number of ideas that could lead to the discovery of new oil and gas fields in the kingdom," he said.
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ONGC awards US$170 million order to Norwegian firm
Norwegian-based marine geophysical company Wavefield Inseis ASA has been awarded a long-term contract for 3D seismic services by Indian-based Oil and Natural Gas Corporation.
Commencing during the fourth quarter of this year, the contract is for a program of 3D surveys offshore India to be acquired each season until 2011. The total contract value is in excess of US$170 million. The first season's program will be acquired by the ‘M/V Geowave Commander’ which will be mobilized from Europe. This significantly increases Wavefield's market share in the region. Earlier in the year Wavefield acquired a 2D project offshore India which will "positively impact" its first large 3D contract in the country. Commenting on the award, Wavefield Inseis CEO Atle Jacobsen stated: "This is not only our first 3D in India. This three-year contract is also our largest to date and our first with ONGC."
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Commencing during the fourth quarter of this year, the contract is for a program of 3D surveys offshore India to be acquired each season until 2011. The total contract value is in excess of US$170 million. The first season's program will be acquired by the ‘M/V Geowave Commander’ which will be mobilized from Europe. This significantly increases Wavefield's market share in the region. Earlier in the year Wavefield acquired a 2D project offshore India which will "positively impact" its first large 3D contract in the country. Commenting on the award, Wavefield Inseis CEO Atle Jacobsen stated: "This is not only our first 3D in India. This three-year contract is also our largest to date and our first with ONGC."
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Thursday, October 23, 2008
LTTE attacks merchant ships
Colombo: Sri Lanka’s military said the LTTE’s Sea Tiger cadre carried out a suicide attack, targeting merchant ships MV Ruhuna and MV Nimalawa.
Navy spokesperson D. K. P. Dassanayake claimed three LTTE suicide vessels were involved in the attack. “Navy sailors providing onboard security fired at the approaching boats and destroyed two of them,” he said. One of the boats exploded in close proximity to MV Nimalawa, damaging the ship’s hull. The third craft has been captured and the cadre operating the boat killed. The Navy described the incident as a cowardly attack to deny essential supplies to the civilians living in war-affected areas. The pro-LTTE TamilNet said the Sea Tigers carried out a “Black Tiger attack on Sri Lankan ship MV Nimalawa, which carried military and other supplies, in the Sri Lankan naval harbour in Kankeasnthurai, Jaffna. The supply ship was sunk and another vessel, MV Ruhuna, sustained heavy damage, the Tigers said,” it said. Sri Lanka’s Defence Ministry website said the attack on merchant vessels with essential cargo to Jaffna’s civilians comes within a week after LTTE shelled a U.N. food convoy to the internally-displaced persons in Mullathivu and Kilinochchi.
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Navy spokesperson D. K. P. Dassanayake claimed three LTTE suicide vessels were involved in the attack. “Navy sailors providing onboard security fired at the approaching boats and destroyed two of them,” he said. One of the boats exploded in close proximity to MV Nimalawa, damaging the ship’s hull. The third craft has been captured and the cadre operating the boat killed. The Navy described the incident as a cowardly attack to deny essential supplies to the civilians living in war-affected areas. The pro-LTTE TamilNet said the Sea Tigers carried out a “Black Tiger attack on Sri Lankan ship MV Nimalawa, which carried military and other supplies, in the Sri Lankan naval harbour in Kankeasnthurai, Jaffna. The supply ship was sunk and another vessel, MV Ruhuna, sustained heavy damage, the Tigers said,” it said. Sri Lanka’s Defence Ministry website said the attack on merchant vessels with essential cargo to Jaffna’s civilians comes within a week after LTTE shelled a U.N. food convoy to the internally-displaced persons in Mullathivu and Kilinochchi.
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Drydocks World – SE Asia Expansion
Sultan Ahmed Bin Sulayem, Chairman of Dubai World, one of world’s largest holding companies, visited the Nanindah and Graha shipyards last week, at Batam in Indonesia and Singapore.
They are part of Drydocks World SE Asia, the recent addition to Drydocks World, the group’s global ship building, repair and conversion arm. The visit was part of an inspection and review tour to evaluate progress achieved by these shipyards and to study the prospects of expanding Drydocks World SE Asia’s operations in the region. Mr. Bin Sulayem was accompanied by senior officials of Drydocks World and a team of journalists from UAE. Drydocks World – SE Asia was formed in March 2008 to manage the shipyards Drydocks World acquired in Asia, primarily in Singapore and Indonesia. It now operates four yards acquired after signing deals to buy Pan-United Marine and Labroy Marine in 2007.
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They are part of Drydocks World SE Asia, the recent addition to Drydocks World, the group’s global ship building, repair and conversion arm. The visit was part of an inspection and review tour to evaluate progress achieved by these shipyards and to study the prospects of expanding Drydocks World SE Asia’s operations in the region. Mr. Bin Sulayem was accompanied by senior officials of Drydocks World and a team of journalists from UAE. Drydocks World – SE Asia was formed in March 2008 to manage the shipyards Drydocks World acquired in Asia, primarily in Singapore and Indonesia. It now operates four yards acquired after signing deals to buy Pan-United Marine and Labroy Marine in 2007.
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ClassNK releases updated degraded marine fuels guide
Tokyo: ClassNK has announced that it will release the English edition of Version II of its previously well-received Guidance for Measures to Cope with Degraded Marine Fuels: Taking into Account the Poor Combustibility of Fuels in November.
While the first 1996 edition (Ver. I) dealt with methods to prevent increases in major damages attributable to fuel oil, the updated 2008 edition (Ver. II) focuses on means to avert FO problems that can arise from poor combustibility. The text gives a good technical explanation of the many factors that contribute to problems caused by poor combustibility and the various measures that can be taken to address these issues. Key factors affecting FO problems noted in 1996 consist of the four “highs”: high density, high viscosity, high sulfur, and high catalytic fines. Key factors affecting FO problems in 2008, however, have shifted to one “high” and three “lows”: high density, low viscosity, low sulfur, and low catalytic fines. The contents of this updated and revised Guidance include a discussion on the shift in factors affecting FO problems and examine FO with poor combustibility, low-sulfur FO, ISO standards, emission regulations, FO processing systems, and countermeasures for improving FO use.
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While the first 1996 edition (Ver. I) dealt with methods to prevent increases in major damages attributable to fuel oil, the updated 2008 edition (Ver. II) focuses on means to avert FO problems that can arise from poor combustibility. The text gives a good technical explanation of the many factors that contribute to problems caused by poor combustibility and the various measures that can be taken to address these issues. Key factors affecting FO problems noted in 1996 consist of the four “highs”: high density, high viscosity, high sulfur, and high catalytic fines. Key factors affecting FO problems in 2008, however, have shifted to one “high” and three “lows”: high density, low viscosity, low sulfur, and low catalytic fines. The contents of this updated and revised Guidance include a discussion on the shift in factors affecting FO problems and examine FO with poor combustibility, low-sulfur FO, ISO standards, emission regulations, FO processing systems, and countermeasures for improving FO use.
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Shanghai Port lowers annual container throughput target
Even mighty Shanghai port is feeling the ill effects of the global financial turmoil.
Yesterday state media reported the port has lowered its 2008 box throughput by 5% from 30m teu to 28.5m teu. Chen Xuyuan, president of Shanghai Port Group, said that the slowdown in the global economy is having a major impact on the container business. As evidence, the freight on the Shanghai - Europe shipping route that stood at US$1,000 per teu at the beginning of the year, has now slumped to nearly US$200 per teu. Shanghai will not overhaul Singapore as the world's largest container port this year. The ports container throughput rose 10.4 per cent from a year earlier to 13.82 million teu in the first half, sharply slower than the growth in 2007, when throughput jumped 20.4 per cent to 26.2 million teu. In the first nine months of 2008, container processing in Chinese ports rose 14.9 per cent to 94.5 million teu, 2.2 per cent lower than the first half, according to Ministry of Transport figures.
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Yesterday state media reported the port has lowered its 2008 box throughput by 5% from 30m teu to 28.5m teu. Chen Xuyuan, president of Shanghai Port Group, said that the slowdown in the global economy is having a major impact on the container business. As evidence, the freight on the Shanghai - Europe shipping route that stood at US$1,000 per teu at the beginning of the year, has now slumped to nearly US$200 per teu. Shanghai will not overhaul Singapore as the world's largest container port this year. The ports container throughput rose 10.4 per cent from a year earlier to 13.82 million teu in the first half, sharply slower than the growth in 2007, when throughput jumped 20.4 per cent to 26.2 million teu. In the first nine months of 2008, container processing in Chinese ports rose 14.9 per cent to 94.5 million teu, 2.2 per cent lower than the first half, according to Ministry of Transport figures.
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Former Ukraine Minister of Defense cynical about foreign combat ships and subs
Ukraine is resorting to foreign made combat ships and subs rather than building up its own Navy.
However, this is most likely to be exaggerated or misinterpreted comments about the recent contacts regarding the potential deal of acquiring decommissioned US warships and subs by the Ukraine. Publicly, former Defense Minister and MP Alexander Kuzmuk spoke about a purchase of two to three corvettes and two subs. He maintains that the cost to do so is totally unacceptable for the Ukraine in the conditions of the global financial crisis and internal chaos. Kuzmuk said: “Ships are not bought within a year. It is a year – a year and half period, it is necessary to study the matter on site, to train crew, minimum two crews, then to arrange new base and solve the problem with technical support and maintenance. “One should keep in mind that a combat ship or sub is not mere metal, it has many complexes of arms and control. It requires stocks of spare ammunition, rockets, mines, torpedoes.” A large proportion of the Ukrainian experts are also highly pessimistic about the potential deal. They believe that it will cause negative consequences in US-Russia relations regarding military-technical cooperation.
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However, this is most likely to be exaggerated or misinterpreted comments about the recent contacts regarding the potential deal of acquiring decommissioned US warships and subs by the Ukraine. Publicly, former Defense Minister and MP Alexander Kuzmuk spoke about a purchase of two to three corvettes and two subs. He maintains that the cost to do so is totally unacceptable for the Ukraine in the conditions of the global financial crisis and internal chaos. Kuzmuk said: “Ships are not bought within a year. It is a year – a year and half period, it is necessary to study the matter on site, to train crew, minimum two crews, then to arrange new base and solve the problem with technical support and maintenance. “One should keep in mind that a combat ship or sub is not mere metal, it has many complexes of arms and control. It requires stocks of spare ammunition, rockets, mines, torpedoes.” A large proportion of the Ukrainian experts are also highly pessimistic about the potential deal. They believe that it will cause negative consequences in US-Russia relations regarding military-technical cooperation.
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Global economic crisis hits Asian shipping industry
The Asian shipping lanes and ports are facing difficulties due to the global financial downturn.
The Australian has reported that share prices of major shipping companies have plummeted 50-70 percent in the past few months and that the Baltic Dry Index has dropped 85 percent from May to its lowest point in six years. There are concerns about new ship orders, a decline in output, and slowdowns in all areas of the industry. The crisis is affecting industries in Malaysia, Taiwan, Japan and Hong Kong, with a drop in demand from the United States and Europe impacting on manufacturing and electronics.
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The Australian has reported that share prices of major shipping companies have plummeted 50-70 percent in the past few months and that the Baltic Dry Index has dropped 85 percent from May to its lowest point in six years. There are concerns about new ship orders, a decline in output, and slowdowns in all areas of the industry. The crisis is affecting industries in Malaysia, Taiwan, Japan and Hong Kong, with a drop in demand from the United States and Europe impacting on manufacturing and electronics.
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Shipping Australia impressed by coastal shipping policy report
CEO of Shipping Australia, Llew Russell, said that he was impressed with the way the House of Representative Standing Committee on Infrastructure, Transport, Regional Development & Local Government handled the complex issues involved in the coastal shipping policy report.
“The report had to deal with many differing, at times, opposing views in 68 submissions plus twelve supplementary submissions.” The submissions covered a broad range of issues, demonstrating the complexity of the issues involved in strengthening the industry’s competitiveness and sustainability. Russell said, “The report challenges the collective shipping industry in Australia, relevant stakeholders and governments to come up with the detailed solutions to meet many of the objectives outlined in its recommendations. “We are particularly pleased with the recommendation regarding the creation of a national port development plan to address current and potential capacity constraints in Australia’s ports.” The report was tabled on October 20, 2008.
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“The report had to deal with many differing, at times, opposing views in 68 submissions plus twelve supplementary submissions.” The submissions covered a broad range of issues, demonstrating the complexity of the issues involved in strengthening the industry’s competitiveness and sustainability. Russell said, “The report challenges the collective shipping industry in Australia, relevant stakeholders and governments to come up with the detailed solutions to meet many of the objectives outlined in its recommendations. “We are particularly pleased with the recommendation regarding the creation of a national port development plan to address current and potential capacity constraints in Australia’s ports.” The report was tabled on October 20, 2008.
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Wednesday, October 22, 2008
London shipping community takes a hit in slowdown
Hellas' Prime Minister Costas Karamanlis visited Downing Street yesterday to discuss the global credit crunch with the shipping world beginning to feel the crisis with one large bankruptcy already announced and the potential that London jobs could be at risk.
City Desk The shipping community in London is experiencing a near crisis situation with the collapse of the dry bulk shipping market caused by the global economic slowdown with the news that operator Industrial Carriers Inc filing for bankruptcy which last year had revenues of $1 billion but had liabilities of around $33 million. According to a report in the Journal of Commerce: "During the market's free-fall that began this summer, rates for 150,000-165,000-ton Capesiz ships crashed by 50 percent as of last week to just over $12,000 a day compared with a peak of $233,000 in late May." Speaking to the Journal of Commerce a London shipbroker Clarkson said: “Earnings have fallen off a cliff.” The London shipping community is dominated by the Greek shipping families who as yet have not publicly expressed any undue concerns about the state of the shipping market, and who traditionally have prospered when the price of crude has increased. But as crude oil prices plummet and inflation goes up in the main European and US markets the dry bulk cargo market is shrinking and will affect the bottom lines of these companies.It is estimated that in London alone around 40,000 people are employed directly and indirectly from the Greek shipping families alone who account for around 70 per cent of trade at the Baltic Exchange.The Greek Prime Minister Costas Karamanlis visited Prime Minister Gordon Brown today to discuss the economic crisis.
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City Desk The shipping community in London is experiencing a near crisis situation with the collapse of the dry bulk shipping market caused by the global economic slowdown with the news that operator Industrial Carriers Inc filing for bankruptcy which last year had revenues of $1 billion but had liabilities of around $33 million. According to a report in the Journal of Commerce: "During the market's free-fall that began this summer, rates for 150,000-165,000-ton Capesiz ships crashed by 50 percent as of last week to just over $12,000 a day compared with a peak of $233,000 in late May." Speaking to the Journal of Commerce a London shipbroker Clarkson said: “Earnings have fallen off a cliff.” The London shipping community is dominated by the Greek shipping families who as yet have not publicly expressed any undue concerns about the state of the shipping market, and who traditionally have prospered when the price of crude has increased. But as crude oil prices plummet and inflation goes up in the main European and US markets the dry bulk cargo market is shrinking and will affect the bottom lines of these companies.It is estimated that in London alone around 40,000 people are employed directly and indirectly from the Greek shipping families alone who account for around 70 per cent of trade at the Baltic Exchange.The Greek Prime Minister Costas Karamanlis visited Prime Minister Gordon Brown today to discuss the economic crisis.
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2008 ANL Maritime Art Prize awarded
On October 17, the Mission to Seafarers, Victoria, Australia announced that the winner of the 2008 ANL Maritime Art Prize was Mr John Santucci for his painting “Landlocked”.
Mr Santucci was awarded the $15,000 first prize by John Lines, CEO of ANL Container Line. Morris Bellamy, Manager Arts & Culture, City of Melbourne, spoke on behalf of the judges who agreed unanimously on the winning canvas. “Landlocked” depicts ‘J153’, the first ship to be built in Whyalla, which bravely served in WWII and then was finally landlocked two kilometres inland from where it was constructed. David Borcoski, Group CEO of ASP, awarded Betina Fauvel-Ogden the $5,000 award for “Best in Traditional Marine Art” for her painting “Docking”. While ANL is the naming sponsor of the prize, ASP sponsors the “Best in Traditional” category and Wallenius Wilhelmsen Logistics sponsors the “People’s Choice Award”. Rio Tinto is a pledge partner and major sponsor while Stolt Nielsen is also a major sponsor. Every year the Mission to Seafarers, Victoria conducts the Maritime Art Prize to fund a variety of support services for seafarers, including counselling, access to transport and communications, emergency relief and legal support. Some 300 guests enjoyed the awards, which doubled as the opening night gala for the exhibition of entrants’ paintings. The exhibition runs until Sunday October 26, after which a further painting will be selected for the “People’s Choice Award”.
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Mr Santucci was awarded the $15,000 first prize by John Lines, CEO of ANL Container Line. Morris Bellamy, Manager Arts & Culture, City of Melbourne, spoke on behalf of the judges who agreed unanimously on the winning canvas. “Landlocked” depicts ‘J153’, the first ship to be built in Whyalla, which bravely served in WWII and then was finally landlocked two kilometres inland from where it was constructed. David Borcoski, Group CEO of ASP, awarded Betina Fauvel-Ogden the $5,000 award for “Best in Traditional Marine Art” for her painting “Docking”. While ANL is the naming sponsor of the prize, ASP sponsors the “Best in Traditional” category and Wallenius Wilhelmsen Logistics sponsors the “People’s Choice Award”. Rio Tinto is a pledge partner and major sponsor while Stolt Nielsen is also a major sponsor. Every year the Mission to Seafarers, Victoria conducts the Maritime Art Prize to fund a variety of support services for seafarers, including counselling, access to transport and communications, emergency relief and legal support. Some 300 guests enjoyed the awards, which doubled as the opening night gala for the exhibition of entrants’ paintings. The exhibition runs until Sunday October 26, after which a further painting will be selected for the “People’s Choice Award”.
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APL reduces capacity
Singapore: APL announced a reduction in capacity on October 21, responding to global economic instability and challenges in the container shipping industry.
APL will cut capacity by 25% in the Asia-Europe trade and by 20% in the Transpacific, to cope with the economic downturn and rising fuel costs. APL’s president, Eng Aik Meng told the Financial Times that the global situation, combined with a decline in demand had led to the need to take action. APL has also cut several of its services, including the China Europe Express, Pacific South Express 3 and Singapore Subcontinent Express. Other services, including the South China Express and Pacific Coast Express will alter their routes.
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APL will cut capacity by 25% in the Asia-Europe trade and by 20% in the Transpacific, to cope with the economic downturn and rising fuel costs. APL’s president, Eng Aik Meng told the Financial Times that the global situation, combined with a decline in demand had led to the need to take action. APL has also cut several of its services, including the China Europe Express, Pacific South Express 3 and Singapore Subcontinent Express. Other services, including the South China Express and Pacific Coast Express will alter their routes.
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INDESEC EXPO 2008
INDESEC EXPO 2008 is the Indo-international cluster of co-located defense & national security exhibitions and conferences to be held in Delhi, from 6th - 8th November, 2008.
A large number of senior end users and buyers will be present at the event, including India's Minister of State for Defence and the Chief of the Indian Air Staff. Hundreds of established and emerging Indian and international companies will be using the Indesec platform to ensure that they are seen, heard, and able to meet with key new prospects over the course of the three days. The event encompasses three major defence and homeland security exhibitions with their respective conferences; the flagship Defence and National Security Leadership Summit; the Informa Indesec awards ceremony and gala dinner; and ample networking receptions. Indesec 2008 comprises seven major defence and national security events – including the Network Enabled Capability Exhibition (NECE), the Border Security International Exhibition (BSEC) and the Maritime Security International Exhibition (MSI) and conferences for NECE, BSEC and MSI along with the Defence and National Security Leadership Summit (DNS). Indesec 2008 is wholly international – with international buyers, end users and solution providers in attendance – the event’s host nation, India, is widely regarded to be one of the most important emerging markets within the global defence industry. You will have the best possible promotional and networking platform to forge important new business relationships and partnerships in India. As an exhibitor, this will present you an opportunity to serve and access the multi-billion dollar Indian (and international) defence market. Numerous meaningful sponsorship opportunities exist for your organisation, including the event’s high level Leadership Summit, the Conferences and associated Networking Events. as an international exhibitor promoting cutting-edge solutions, you have every reason to expect world-class exhibition facilities.
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A large number of senior end users and buyers will be present at the event, including India's Minister of State for Defence and the Chief of the Indian Air Staff. Hundreds of established and emerging Indian and international companies will be using the Indesec platform to ensure that they are seen, heard, and able to meet with key new prospects over the course of the three days. The event encompasses three major defence and homeland security exhibitions with their respective conferences; the flagship Defence and National Security Leadership Summit; the Informa Indesec awards ceremony and gala dinner; and ample networking receptions. Indesec 2008 comprises seven major defence and national security events – including the Network Enabled Capability Exhibition (NECE), the Border Security International Exhibition (BSEC) and the Maritime Security International Exhibition (MSI) and conferences for NECE, BSEC and MSI along with the Defence and National Security Leadership Summit (DNS). Indesec 2008 is wholly international – with international buyers, end users and solution providers in attendance – the event’s host nation, India, is widely regarded to be one of the most important emerging markets within the global defence industry. You will have the best possible promotional and networking platform to forge important new business relationships and partnerships in India. As an exhibitor, this will present you an opportunity to serve and access the multi-billion dollar Indian (and international) defence market. Numerous meaningful sponsorship opportunities exist for your organisation, including the event’s high level Leadership Summit, the Conferences and associated Networking Events. as an international exhibitor promoting cutting-edge solutions, you have every reason to expect world-class exhibition facilities.
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2012 deadline to scan all port cargo won't be met
Los Angeles: The Homeland Security Department says it will not meet a 2012 deadline set by Congress to scan the contents of every cargo container headed to U.S. ports.
Instead, it plans to gather more information about who made the goods in the containers and who packed them. Under that proposal, only a small fraction of the 11 million containers shipped to the U.S. each year — those from unknown companies and countries known to harbor terrorists — would be flagged to be scanned for nuclear or radiological materials. "It's called Risk Management 101," Secretary Michael Chertoff said. "I'm not terribly concerned someone's going to build a nuclear bomb in England" and load it into a container headed for a U.S. port. "But I might be more concerned about South Asia." Chertoff says there are countless obstacles to the 100% scanning mandate passed by Congress in 2006. Among them: Some countries don't want U.S. Customs officers operating scanning equipment in their ports; scans could slow trade; the program would be costly.Chertoff is taking criticism from the shipping industry, which opposes both Congress' 100% requirement and his plan to collect more information from shippers."Two wrongs don't make a right," says Frank Vargo of the National Association of Manufacturers. He says Chertoff's plan will slow trade and could cost the industry as much as $20 billion a year. "It will result in a two-day — maybe a five-day — delay before that container (is cleared) and can be loaded onto a ship."Security experts agree that 100% scanning would be very difficult to achieve. "It's not practical, and there's no threat that justifies it," said James Carafano of the Heritage Foundation, a conservative think tank.P.J. Crowley of the Democratic-leaning Center for American Progress says 100% scanning isn't feasible by 2012 but is a worthy goal for the next decade. "You want to have 100% confidence you know what's inside the box," he says. "You can't just do that by reviewing cargo data."
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Instead, it plans to gather more information about who made the goods in the containers and who packed them. Under that proposal, only a small fraction of the 11 million containers shipped to the U.S. each year — those from unknown companies and countries known to harbor terrorists — would be flagged to be scanned for nuclear or radiological materials. "It's called Risk Management 101," Secretary Michael Chertoff said. "I'm not terribly concerned someone's going to build a nuclear bomb in England" and load it into a container headed for a U.S. port. "But I might be more concerned about South Asia." Chertoff says there are countless obstacles to the 100% scanning mandate passed by Congress in 2006. Among them: Some countries don't want U.S. Customs officers operating scanning equipment in their ports; scans could slow trade; the program would be costly.Chertoff is taking criticism from the shipping industry, which opposes both Congress' 100% requirement and his plan to collect more information from shippers."Two wrongs don't make a right," says Frank Vargo of the National Association of Manufacturers. He says Chertoff's plan will slow trade and could cost the industry as much as $20 billion a year. "It will result in a two-day — maybe a five-day — delay before that container (is cleared) and can be loaded onto a ship."Security experts agree that 100% scanning would be very difficult to achieve. "It's not practical, and there's no threat that justifies it," said James Carafano of the Heritage Foundation, a conservative think tank.P.J. Crowley of the Democratic-leaning Center for American Progress says 100% scanning isn't feasible by 2012 but is a worthy goal for the next decade. "You want to have 100% confidence you know what's inside the box," he says. "You can't just do that by reviewing cargo data."
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Tuesday, October 21, 2008
President Torrijos announces Panama Canal expansion
The President of Panama Martín Torrijos has announced a financial package for the expansion of the Panama Canal.
Half of the US$5.25 billion project will be funded by five multilateral agencies from across Europe, Asia and South America. Cash from the canal’s operation will cover the remaining cost. The President said the canal remains an “object of immense satisfaction for the entire nation.” The Chief Executive Officer of the Panama Canal Authority, Alberto Alemán Zubieta said the commitment by major multilateral agencies proved there was trust in the Panamanian economy at a time of global economic uncertainty.
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Half of the US$5.25 billion project will be funded by five multilateral agencies from across Europe, Asia and South America. Cash from the canal’s operation will cover the remaining cost. The President said the canal remains an “object of immense satisfaction for the entire nation.” The Chief Executive Officer of the Panama Canal Authority, Alberto Alemán Zubieta said the commitment by major multilateral agencies proved there was trust in the Panamanian economy at a time of global economic uncertainty.
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Dubai World to expand business in Asia
Dubai World, which last year bought two Singapore-based shipyards, is looking to further expand its marine engineering and fabrication business in Asia with potential acquisitions in China, India, Thailand and Vietnam.
Drydocks World, the group's shipyard business unit, is exploring several opportunities in those countries, Dubai World Chairman Sultan Ahmad Bin Sulayem told reporters during a tour of the company's facilities in Indonesia and Singapore. He said the group sees good business opportunities in the ship engineering and manufacturing sector despite a global economic slowdown. Drydocks World, which operates Dubai Drydocks, made its first major foreign acquisition last year when it took over Singapore's Pan United Marine Limited and later Labroy Marine Limited. The two companies operated shipyards in Singapore and the nearby Batam Island of Indonesia. Drydocks World Southeast Asia is expected to generate $1.5 billion in revenues and the group's Dubai business will fetch $1 billion in revenues this year, he said. Having consolidated its Southeast Asian operations under the regional unit, the company has been hunting for more ventures with focus on ship repair, rig manufacturing, vessel conversion and new ship manufacturing businesses in Asia. Drydocks World's sister company DP World already operates container terminals in the four countries where the company aims to enter the shipyard business.
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Drydocks World, the group's shipyard business unit, is exploring several opportunities in those countries, Dubai World Chairman Sultan Ahmad Bin Sulayem told reporters during a tour of the company's facilities in Indonesia and Singapore. He said the group sees good business opportunities in the ship engineering and manufacturing sector despite a global economic slowdown. Drydocks World, which operates Dubai Drydocks, made its first major foreign acquisition last year when it took over Singapore's Pan United Marine Limited and later Labroy Marine Limited. The two companies operated shipyards in Singapore and the nearby Batam Island of Indonesia. Drydocks World Southeast Asia is expected to generate $1.5 billion in revenues and the group's Dubai business will fetch $1 billion in revenues this year, he said. Having consolidated its Southeast Asian operations under the regional unit, the company has been hunting for more ventures with focus on ship repair, rig manufacturing, vessel conversion and new ship manufacturing businesses in Asia. Drydocks World's sister company DP World already operates container terminals in the four countries where the company aims to enter the shipyard business.
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Bahrain signs agreement with Hess to establish gas terminal
Bahrain has signed a memorandum of understanding with US firm Hess Corporation for the establishment of a liquefied natural gas (LNG) import terminal in the kingdom.
The step has been taken by the National Oil and Gas Authority (Noga).Oil and Gas Affairs Minister and Noga chairman Dr Abdulhussain Mirza signed a memorandum of understanding (MoU) with HESS LNG president and chief executive officer Gordon Shearer. "The signing ceremony is symbolic of the real and necessary partnership Noga is establishing in its quest to meet the true challenge of its ultimate goal of securing the necessary energy to fuel the economic growth and prosperity of the kingdom," said Dr Mirza. "Energy security is a key goal that is fully subscribed to and is in the forethought of the leadership of the kingdom."
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The step has been taken by the National Oil and Gas Authority (Noga).Oil and Gas Affairs Minister and Noga chairman Dr Abdulhussain Mirza signed a memorandum of understanding (MoU) with HESS LNG president and chief executive officer Gordon Shearer. "The signing ceremony is symbolic of the real and necessary partnership Noga is establishing in its quest to meet the true challenge of its ultimate goal of securing the necessary energy to fuel the economic growth and prosperity of the kingdom," said Dr Mirza. "Energy security is a key goal that is fully subscribed to and is in the forethought of the leadership of the kingdom."
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Singapore’s New Standards in Bunkering
SPRING Singapore and the Maritime and Port Authority of Singapore launch the first standard in the world for both bunker suppliers and surveyors.
SPRING Singapore and the Maritime and Port Authority of Singapore have launched a new standard, the Singapore Standard SS 600: 2008 – Code of Practice for Bunkering, to further enhance consistency in practices in the delivery of bunkers for ships calling at Singapore’s port. The launch of this national standard for bunker suppliers and surveyors – a first in the world – was announced by Mr. Raymond Lim, Minister for Transport and Second Minister for Foreign Affairs, at the Singapore International Bunkering Conference (SIBCON 2008).SS 600 sets out guidelines and procedures to ensure that the correct quality and quantity of bunkers are being delivered safely and efficiently. By enhancing the procedures and requirements for the delivery of bunkers by bunker tankers to vessels as well as the work of bunker surveyors, the new standard will boost Singapore’s position in the bunkering industry.SS 600 will be enforced by MPA for all bunkering operations and bunker surveying works in Singapore. This standard which will replace the two current standards: SS CP 60: 2004 (Bunkering by Bunker Tankers) and SS CP 77: 1999 (Bunker Surveying) will be adopted by the bunkering industry in the second half of 2009.
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SPRING Singapore and the Maritime and Port Authority of Singapore have launched a new standard, the Singapore Standard SS 600: 2008 – Code of Practice for Bunkering, to further enhance consistency in practices in the delivery of bunkers for ships calling at Singapore’s port. The launch of this national standard for bunker suppliers and surveyors – a first in the world – was announced by Mr. Raymond Lim, Minister for Transport and Second Minister for Foreign Affairs, at the Singapore International Bunkering Conference (SIBCON 2008).SS 600 sets out guidelines and procedures to ensure that the correct quality and quantity of bunkers are being delivered safely and efficiently. By enhancing the procedures and requirements for the delivery of bunkers by bunker tankers to vessels as well as the work of bunker surveyors, the new standard will boost Singapore’s position in the bunkering industry.SS 600 will be enforced by MPA for all bunkering operations and bunker surveying works in Singapore. This standard which will replace the two current standards: SS CP 60: 2004 (Bunkering by Bunker Tankers) and SS CP 77: 1999 (Bunker Surveying) will be adopted by the bunkering industry in the second half of 2009.
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Malaysian firm in $2bn Kerala port project
Mumbai: A consortium comprising India's Lanco Group of Companies and Malaysia's Pembinaan Redzai Sdn Bhd has secured a US$2 billion (RM7 billion) deal to develop the Vizhinjam International Transshipment Terminal Port in India.
Last month, the Kerala state government issued a Letter of Intent to Lanco, and the licence agreement for the project is expected to be signed next month. In a statement, Lanco said the licence agreement will be signed between the Kerala state government and the Special Purpose Company (SPC) to be incorporated by the Lanco-Pembinaan Redzai consortium members. The Kerala state government will hold a 24 per cent equity stake in the SPC, while the balance equity will be held by the consortium. Lanco said the port project was awarded to the consortium of Lanco and Pembinaan Redzai after the Indian government formally granted the security clearance to the consortium earlier last month. Pembinaan Redzai owns some 40 per cent stake in Westports Holdings Sdn Bhd, the holding company for Westports Malaysia Sdn Bhd that runs Westports at Port Klang. The Vizhinjam port project involves the development of an international container transshipment port. The port was put on tender by the Kerala state government in August last year.
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Last month, the Kerala state government issued a Letter of Intent to Lanco, and the licence agreement for the project is expected to be signed next month. In a statement, Lanco said the licence agreement will be signed between the Kerala state government and the Special Purpose Company (SPC) to be incorporated by the Lanco-Pembinaan Redzai consortium members. The Kerala state government will hold a 24 per cent equity stake in the SPC, while the balance equity will be held by the consortium. Lanco said the port project was awarded to the consortium of Lanco and Pembinaan Redzai after the Indian government formally granted the security clearance to the consortium earlier last month. Pembinaan Redzai owns some 40 per cent stake in Westports Holdings Sdn Bhd, the holding company for Westports Malaysia Sdn Bhd that runs Westports at Port Klang. The Vizhinjam port project involves the development of an international container transshipment port. The port was put on tender by the Kerala state government in August last year.
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Ecuador and Petrobras reach deal
Ecuador will receive an average of 60% of oil production for Block 18, operated by Brazilian giant Petrobras, up from the current 51%, Mining and Oil Minister Derlis Palacios said.
President Rafael Correa said over the weekend that Petrobras has agreed to sign a new temporary oil participation deal for Block 18. The temporary deal will be changed in one year to a service contract. Under the current participation contracts, the state receives a percentage of profits from oil production. Under the new service provider contracts, companies would be paid a production fee and be reimbursed for investment costs, although all of the recovered crude oil will belong to the state. Petrobras currently produces about 32,000 barrels of oil a day from Block 18, said a Dow Jones Newswire report. "According the agreement signed on Friday, the state will increase its participation in the block oil production to 60%. In exchange, the windfall tax for the company will be reduced from the current 99% to 70%," Palacios said. Palacios added that although the temporary contract is for a year, he hopes to sign a service contract quickly, "maybe in around three months" because it could benefit both the government and the company. Last month Ecuador and Petrobras agreed to finish the contract for Block 31, another block operated by the Brazilian company, and transfer it to the state. Block 31, with an area of 200,000-hectares, lies partly within Yasuni National Park, which the United Nations Educational, Scientific and Cultural Organisation have declared a World Biosphere Reserve. Petrobras has not started production in Block 31.
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President Rafael Correa said over the weekend that Petrobras has agreed to sign a new temporary oil participation deal for Block 18. The temporary deal will be changed in one year to a service contract. Under the current participation contracts, the state receives a percentage of profits from oil production. Under the new service provider contracts, companies would be paid a production fee and be reimbursed for investment costs, although all of the recovered crude oil will belong to the state. Petrobras currently produces about 32,000 barrels of oil a day from Block 18, said a Dow Jones Newswire report. "According the agreement signed on Friday, the state will increase its participation in the block oil production to 60%. In exchange, the windfall tax for the company will be reduced from the current 99% to 70%," Palacios said. Palacios added that although the temporary contract is for a year, he hopes to sign a service contract quickly, "maybe in around three months" because it could benefit both the government and the company. Last month Ecuador and Petrobras agreed to finish the contract for Block 31, another block operated by the Brazilian company, and transfer it to the state. Block 31, with an area of 200,000-hectares, lies partly within Yasuni National Park, which the United Nations Educational, Scientific and Cultural Organisation have declared a World Biosphere Reserve. Petrobras has not started production in Block 31.
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Monday, October 20, 2008
Victoria Harbour to be redeveloped
The Chief Executive of Hong Kong has called for the beautification and redevelopment of Victoria Harbour.
Speaking at his policy address last week, Sir Donald Tsang said that the Development Bureau would oversee projects to beautify the area and make it more accessible to the people of Hong Kong and visitors to the city. The Chief Executive said that: “I hope that our beautiful harbour will remain a symbol of our city that can be enjoyed by all." A study from 2004 by Designing Hong Kong Harbour District found that tourism would become a vital part of Hong Kong’s economy with an estimated 70 million tourist trips by 2030. The study called for the sustainable redevelopment of the harbour, including the beautification of the foreshore, and affordable access to culture, arts and sports. The study also warned that giving priority to transport infrastructure over the needs of the public and the natural environment could result in a sterile waterfront.
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Speaking at his policy address last week, Sir Donald Tsang said that the Development Bureau would oversee projects to beautify the area and make it more accessible to the people of Hong Kong and visitors to the city. The Chief Executive said that: “I hope that our beautiful harbour will remain a symbol of our city that can be enjoyed by all." A study from 2004 by Designing Hong Kong Harbour District found that tourism would become a vital part of Hong Kong’s economy with an estimated 70 million tourist trips by 2030. The study called for the sustainable redevelopment of the harbour, including the beautification of the foreshore, and affordable access to culture, arts and sports. The study also warned that giving priority to transport infrastructure over the needs of the public and the natural environment could result in a sterile waterfront.
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STX scores debut FSU order
Seoul: STX Heavy Industries Co., Ltd. of South Korea's STX Group has bagged an order from a Middle East owner for the construction of a floating storage unit (FSU).
This follows the group's first drill ship order landed late last month. STX HI secured the FSU order, valued at about 500 billion won, jointly with compatriot Samsung C&T Corp. They will take charge of the whole process of the contract from design, materials procurement, manufacturing, installation to trial operation. Completion of the installation at the work site is scheduled in the second half of 2011. Measuring 335 meters long, 60 meters wide and 33 meters deep, the FSU will have deadweight of about 335,000 tons and a crude storage capacity of 2.2 million barrels.
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This follows the group's first drill ship order landed late last month. STX HI secured the FSU order, valued at about 500 billion won, jointly with compatriot Samsung C&T Corp. They will take charge of the whole process of the contract from design, materials procurement, manufacturing, installation to trial operation. Completion of the installation at the work site is scheduled in the second half of 2011. Measuring 335 meters long, 60 meters wide and 33 meters deep, the FSU will have deadweight of about 335,000 tons and a crude storage capacity of 2.2 million barrels.
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CNOOC to develop Guangdong oil hub
Hong Kong: According to Shanghai Securities News China's National Development and Reform Commission has given the green light for China National Offshore Oil Corp to develop a giant oil terminal in Huizhou alongside a brand new refinery it will inaugurate before year end.
A VLCC berth capable of handling 18m tonnes a year as well as a work berth with supporting facilities will also be built, as well four 5,000-dwt and one 30,000-dwt products berths, with a combined capacity of 7.4m tonnes a year. CNOOC is also planning an oil coke berth of 20,000 dwt with annual capacity of 2m a year. The project will cost about CNY 1.06bn ($155.59m).
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A VLCC berth capable of handling 18m tonnes a year as well as a work berth with supporting facilities will also be built, as well four 5,000-dwt and one 30,000-dwt products berths, with a combined capacity of 7.4m tonnes a year. CNOOC is also planning an oil coke berth of 20,000 dwt with annual capacity of 2m a year. The project will cost about CNY 1.06bn ($155.59m).
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Quito and Petrobras agree on stop-gap PSC
Ecuador signed a temporary production sharing contract with Brazil's Petrobras that lowers the company's tax burden, President Rafael Correa said.
The PSC with Petrobras gives Correa more time to negotiate service deals that would allow the state to keep all the oil that companies produce. It also eases tensions with ally Brazil over recent threats to nationalize the company's oilfields if a deal was not signed. "Yes, Petrobras has agreed," said Correa. "These transition contracts will lead to service deals in about a year." Ecuador's ties with Brazil frayed after Correa ejected Brazilian construction outfit Odebrecht over a disputed dam in September. Correa, who won a September referendum to increase his control over the economy, has struggled for nearly a year to convince foreign companies to renegotiate deals that allowed them to directly sell some of the oil they extracted in Ecuador. Protracted talks has slashed private investment in the country's oil sector, which is crucial for the state's finances. Correa said French oil company Perenco also agreed to the temporary deal that immediately lowers a windfall tax that companies have said made their business unprofitable in the Andean country. Spain's Repsol is also planning to ink the transition deal next week, Correa said.
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The PSC with Petrobras gives Correa more time to negotiate service deals that would allow the state to keep all the oil that companies produce. It also eases tensions with ally Brazil over recent threats to nationalize the company's oilfields if a deal was not signed. "Yes, Petrobras has agreed," said Correa. "These transition contracts will lead to service deals in about a year." Ecuador's ties with Brazil frayed after Correa ejected Brazilian construction outfit Odebrecht over a disputed dam in September. Correa, who won a September referendum to increase his control over the economy, has struggled for nearly a year to convince foreign companies to renegotiate deals that allowed them to directly sell some of the oil they extracted in Ecuador. Protracted talks has slashed private investment in the country's oil sector, which is crucial for the state's finances. Correa said French oil company Perenco also agreed to the temporary deal that immediately lowers a windfall tax that companies have said made their business unprofitable in the Andean country. Spain's Repsol is also planning to ink the transition deal next week, Correa said.
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BP discovers oil in Angola
BP Exploration and Sonangol have announced the discovery of oil in ultra-deepwater Block 31, off the coast of Angola.
This is the sixteenth discovery made by BP in Block 31 and is located in the southern portion of the block, about nine kilometres to the south-west of the Juno-1 discovery. The well test results confirm the capacity of the reservoir to flow in excess of 5,000 barrels a day under production conditions.
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This is the sixteenth discovery made by BP in Block 31 and is located in the southern portion of the block, about nine kilometres to the south-west of the Juno-1 discovery. The well test results confirm the capacity of the reservoir to flow in excess of 5,000 barrels a day under production conditions.
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EU's Kroes urges Polish shipyards to abandon ship
Poland's historic but debt-laden shipyards may become a prosperous business hub producing things other than ships under radical new restructuring plans, EU competition chief Neelie Kroes quoted as saying.
Prime Minister Donald Tusk's centre-right government has been fighting to stave off bankruptcy for the shipyards, cradle of the anti-communist Solidarity trade union in the 1980s, but Kroes has rejected its own restructuring proposals. The Commission wants the state-controlled yards of Gdynia and Szczecin and the privatized Gdansk yard to repay 2.3 billion euros in illegal state aid, a move that would bankrupt them. EU Competition Commissioner Kroes said her plan would involve selling off the two state-owned yards' assets and using the proceeds to pay back the state aid. "This would provide a fresh start for the shipyards and their employees.New investors would not be burdened with old debts. "They (the new companies) can produce something else. The companies themselves will decide on the issue. The skills of employees of all the shipyards can be used not only for ship building but also in steel construction or similar areas." The yards have not made profit on a single ship built since Poland joined the European Union in 2004 and would have collapsed without state subsidies. Some analysts say the yards could still build ships profitably if better managed.
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Prime Minister Donald Tusk's centre-right government has been fighting to stave off bankruptcy for the shipyards, cradle of the anti-communist Solidarity trade union in the 1980s, but Kroes has rejected its own restructuring proposals. The Commission wants the state-controlled yards of Gdynia and Szczecin and the privatized Gdansk yard to repay 2.3 billion euros in illegal state aid, a move that would bankrupt them. EU Competition Commissioner Kroes said her plan would involve selling off the two state-owned yards' assets and using the proceeds to pay back the state aid. "This would provide a fresh start for the shipyards and their employees.New investors would not be burdened with old debts. "They (the new companies) can produce something else. The companies themselves will decide on the issue. The skills of employees of all the shipyards can be used not only for ship building but also in steel construction or similar areas." The yards have not made profit on a single ship built since Poland joined the European Union in 2004 and would have collapsed without state subsidies. Some analysts say the yards could still build ships profitably if better managed.
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Sunday, October 19, 2008
COSCO Dalian Shipyard signs four tanker-based FPSO conversion projects
China: COSCO Dalian Shipyard has signed four tanker-based FPSO conversion projects with MODEC.
One of these, ‘Song Doc Pried’ has already been delivered to Truong Son Joint Operating Company (TSJOC) and another VLCC, ‘Apollo Shoju’, has been renamed. The work scope for this VLCC conversion included repair and life extension, specialist FPSO structure construction, topsides module installation and integration as well the fitting of steel structure, cable pulling and piping work. Up to now, COSCO Dalian Shipyard has achieved outstanding safety results. A total of four million man hours have been spent on the two MODEC projects without any time being lost due to injury.
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One of these, ‘Song Doc Pried’ has already been delivered to Truong Son Joint Operating Company (TSJOC) and another VLCC, ‘Apollo Shoju’, has been renamed. The work scope for this VLCC conversion included repair and life extension, specialist FPSO structure construction, topsides module installation and integration as well the fitting of steel structure, cable pulling and piping work. Up to now, COSCO Dalian Shipyard has achieved outstanding safety results. A total of four million man hours have been spent on the two MODEC projects without any time being lost due to injury.
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Sri Lanka new port terminal draws Maersk interest
The Maersk group, which runs the world's biggest shipping line, may be interested in investing in a new container terminal in the planned new deep-draft port next to Colombo, a company official said.
Maersk Line is part of the Danish AP Moller-Maersk group and operates independently of the terminal operator unit, APM Terminals (APMT). "APM Terminals may tender for south port terminal project," said Amal Rodrigo, country manager of Maersk Lanka. Construction work on the breakwater of the new port is underway and the government is about to call for tenders to build the new port's container terminals. The tenders for the project were first called last year but cancelled when the government could not decide between the two top contenders, Port of Singapore Authority and Hutchison Port Holdings of Hong Kong. The AP Moller-Maersk group, commonly known as Maersk, is the world's largest container ship operator and also a big container terminal operator. It is one of Colombo's biggest customers and also has a stake in the privatized South Asia Gateway Terminals container facility.
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Maersk Line is part of the Danish AP Moller-Maersk group and operates independently of the terminal operator unit, APM Terminals (APMT). "APM Terminals may tender for south port terminal project," said Amal Rodrigo, country manager of Maersk Lanka. Construction work on the breakwater of the new port is underway and the government is about to call for tenders to build the new port's container terminals. The tenders for the project were first called last year but cancelled when the government could not decide between the two top contenders, Port of Singapore Authority and Hutchison Port Holdings of Hong Kong. The AP Moller-Maersk group, commonly known as Maersk, is the world's largest container ship operator and also a big container terminal operator. It is one of Colombo's biggest customers and also has a stake in the privatized South Asia Gateway Terminals container facility.
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Tanker Shuffle at Aker Philadelphia
American Shipping Company has notified Aker Philadelphia Shipyard (Oslo: AKPS) and Overseas Shipholding Group that AMSC will change the building sequence of its 12 tanker build program, as it has not yet been able to arrange financing for the two shuttle tankers in that program.
The two shuttle tankers are intended for bareboat charter to Overseas Shipholding Group, who will time charter the vessels to Petrobras for operation in the Gulf of Mexico. Without financing in place for the shuttle tankers, Aker Philadelphia Shipyard cannot draw on its committed construction financing facility to build these vessels and, therefore, the building sequence will be changed. AMSC notes that the shipbuilding contracts and bareboat charters for the shuttle tankers provide flexibility with respect to delivery of the vessels and make this change in building sequence possible. AMSC currently anticipates that the two shuttle tankers will be delivered in compliance with their respective bareboat charters, provided that financing is in place.
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The two shuttle tankers are intended for bareboat charter to Overseas Shipholding Group, who will time charter the vessels to Petrobras for operation in the Gulf of Mexico. Without financing in place for the shuttle tankers, Aker Philadelphia Shipyard cannot draw on its committed construction financing facility to build these vessels and, therefore, the building sequence will be changed. AMSC notes that the shipbuilding contracts and bareboat charters for the shuttle tankers provide flexibility with respect to delivery of the vessels and make this change in building sequence possible. AMSC currently anticipates that the two shuttle tankers will be delivered in compliance with their respective bareboat charters, provided that financing is in place.
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Saturday, October 18, 2008
COSCO designs and constructs 105,000DWT shuttle tankers
China: COSCO Shipyard Group recently finished constructing two 105,000DWT shuttle tankers for Knutsen Company in Norway, with the first vessel, ‘N255’, beginning work in Nantong, China.
This project was the first time COSCO Shipyard has constructed vessel completely designed by it. This vessel incorporates the latest technology in the world, highly automated, and with dynamic positioning systems, adjustable pitch propellers, rudder shilling, and the stern side of the bow pushing the system, helicopter platform and so on. The finished vessels will be used as crude oil barges between FPSO to FSO and land to sea. Compared with conventional tankers, the vessels are easy to manoeuvre, have large cabin capacities, low fuel consumption, have safe, human design, and incorporate good environmental protection strategies.
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This project was the first time COSCO Shipyard has constructed vessel completely designed by it. This vessel incorporates the latest technology in the world, highly automated, and with dynamic positioning systems, adjustable pitch propellers, rudder shilling, and the stern side of the bow pushing the system, helicopter platform and so on. The finished vessels will be used as crude oil barges between FPSO to FSO and land to sea. Compared with conventional tankers, the vessels are easy to manoeuvre, have large cabin capacities, low fuel consumption, have safe, human design, and incorporate good environmental protection strategies.
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Cuba estimates offshore oil reserves of 20 billion barrels
Havana: Cuban oil officials have said that the country may have over 20 million barrels of recoverable oil in its offshore fields in the Gulf of Mexico, more than twice the estimates of the U.S. Geological Survey.
Rafael Tenreyro Perez, exploration manager for Cuban oil company Cupet, said that the country hopes to drill its first production wells in mid-2009. Tenreyro Perez said that the Cuban estimate was higher than U.S. Geological Survey because Cuba has better information about its offshore geology. The U.S. Geological Survey estimates that Cuba could have nine billion barrels of oil and 21 Tcf of natural gas. Tenreyro Perez said that Cupet did not have an estimate for the country's natural gas reserves. Tenreyro Perez stated that Cuba's oil estimates are mainly based on comparisons with how much oil is produced from similar geological structures offshore Mexico and the U.S., such as Mexico's Cantarell oil field. A consortium of international companies, led by Spain's Repsol YPF, is expected to drill the first production well. Drilling was scheduled for this year but postponed because of difficulties securing a rig. Brazilian state oil company Petrobras is also in talks with Cupet to drill offshore Cuba. Canadian company Sherritt has canceled its oil-production contract for Cuban waters of the Gulf of Mexico, saying that it was not worth continuing with exploration in the area.
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Rafael Tenreyro Perez, exploration manager for Cuban oil company Cupet, said that the country hopes to drill its first production wells in mid-2009. Tenreyro Perez said that the Cuban estimate was higher than U.S. Geological Survey because Cuba has better information about its offshore geology. The U.S. Geological Survey estimates that Cuba could have nine billion barrels of oil and 21 Tcf of natural gas. Tenreyro Perez said that Cupet did not have an estimate for the country's natural gas reserves. Tenreyro Perez stated that Cuba's oil estimates are mainly based on comparisons with how much oil is produced from similar geological structures offshore Mexico and the U.S., such as Mexico's Cantarell oil field. A consortium of international companies, led by Spain's Repsol YPF, is expected to drill the first production well. Drilling was scheduled for this year but postponed because of difficulties securing a rig. Brazilian state oil company Petrobras is also in talks with Cupet to drill offshore Cuba. Canadian company Sherritt has canceled its oil-production contract for Cuban waters of the Gulf of Mexico, saying that it was not worth continuing with exploration in the area.
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AMEC expands into offshore oil and gas decommissioning through cooperation agreement with SeaMetric
London-based international engineering and project management company AMEC and the marine heavy lifting company SeaMetric International have signed a cooperation agreement to provide a new international offshore decommissioning service for clients.
Neil Bruce, CEO of AMEC’s Natural Resources division, said: “The market for the decommissioning of offshore oil facilities is huge and working with SeaMetric will enable us to enhance our portfolio of asset support services to provide an integrated “end-of-life” solution.” SeaMetric’s Managing Director, Johan F. Andresen, added: “Cooperation with AMEC is a major step towards realizing the potential of [Twin Marine Lifter projects], particularly in the North Sea platform decommissioning market.”
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Neil Bruce, CEO of AMEC’s Natural Resources division, said: “The market for the decommissioning of offshore oil facilities is huge and working with SeaMetric will enable us to enhance our portfolio of asset support services to provide an integrated “end-of-life” solution.” SeaMetric’s Managing Director, Johan F. Andresen, added: “Cooperation with AMEC is a major step towards realizing the potential of [Twin Marine Lifter projects], particularly in the North Sea platform decommissioning market.”
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Aegean Marine Petroleum Network Inc. to Expand Presence in the Caribbean
Aegean Marine Petroleum Network Inc. announced that it will be establishing business operations in Trinidad and Tobago, expanding its presence to the southern Caribbean.
Aegean is in the process of setting up its local logistics infrastructure and expects to commence operations by the end-of-the first quarter, 2009. E. Nikolas Tavlarios, President, commented, "We are pleased to once again expand Aegean's global platform by entering into a strategically important market. Trinidad and Tobago, located in the southern Caribbean and bordering the northeast coast of South America, is a significant transshipment hub which lies along major shipping lanes connecting South America to the Panama Canal, Caribbean, and the U.S. Gulf. Ships sailing through these waters encompass all sectors of the industry, including tanker, container, general cargo, drybulk, chemical, and gas carrier." Mr. Tavlarios continued, "We believe Aegean's leading reputation for providing quality product and service, successful track record in developing new markets, and expansive logistics infrastructure will help establish Trinidad and Tobago as a major bunkering destination in the southern Caribbean. Trinidad and Tobago is a party to the IMO MARPOL Regulation and requires all bunkering tankers entering the market to be double-hull." Mr. Tavlarios concluded.
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Aegean is in the process of setting up its local logistics infrastructure and expects to commence operations by the end-of-the first quarter, 2009. E. Nikolas Tavlarios, President, commented, "We are pleased to once again expand Aegean's global platform by entering into a strategically important market. Trinidad and Tobago, located in the southern Caribbean and bordering the northeast coast of South America, is a significant transshipment hub which lies along major shipping lanes connecting South America to the Panama Canal, Caribbean, and the U.S. Gulf. Ships sailing through these waters encompass all sectors of the industry, including tanker, container, general cargo, drybulk, chemical, and gas carrier." Mr. Tavlarios continued, "We believe Aegean's leading reputation for providing quality product and service, successful track record in developing new markets, and expansive logistics infrastructure will help establish Trinidad and Tobago as a major bunkering destination in the southern Caribbean. Trinidad and Tobago is a party to the IMO MARPOL Regulation and requires all bunkering tankers entering the market to be double-hull." Mr. Tavlarios concluded.
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IMO upbeat on work to reduce Greenhouse Gas emissions from ships
Singapore: IMO secretary-general Efthimios Mitropolous delivered the second annual Singapore Maritime Lecture this week, the first having been given last year by the republic's minister mentor Mr Lee Kuan Yew.
Addressing the topic of 'Climate Change and International Shipping,' Mitropoulos gave an update on IMO work on reduction of the emission of Greenhouse Gases (GHG) from ships following the successful work carried out early this year on reducing other emissions such as SOx in the revision of Marpol Annex VI. 'IMO has also given ample consideration to this (GHG) matter, given the mandate that the Organization has, through the United Nations Framework Convention on Climate Change " the UNFCCC " and its Kyoto Protocol, to pursue the limitation or reduction of emissions of greenhouse gases from ships, said Mitropoulos. 'We have established an ambitious but achievable action plan to that end and are now working towards the development and adoption of a robust regime that will regulate shipping at the global level and contribute to the slowing down of climate change. 'In particular, much progress has been made this year by the MEPC and in intersessional meetings on items such as the development of the Interim Guidelines for an Energy Efficiency Design Index for new ships, an Energy Efficiency Operational Index and best practices for fuel efficient operation of ships throughout the industry.
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Addressing the topic of 'Climate Change and International Shipping,' Mitropoulos gave an update on IMO work on reduction of the emission of Greenhouse Gases (GHG) from ships following the successful work carried out early this year on reducing other emissions such as SOx in the revision of Marpol Annex VI. 'IMO has also given ample consideration to this (GHG) matter, given the mandate that the Organization has, through the United Nations Framework Convention on Climate Change " the UNFCCC " and its Kyoto Protocol, to pursue the limitation or reduction of emissions of greenhouse gases from ships, said Mitropoulos. 'We have established an ambitious but achievable action plan to that end and are now working towards the development and adoption of a robust regime that will regulate shipping at the global level and contribute to the slowing down of climate change. 'In particular, much progress has been made this year by the MEPC and in intersessional meetings on items such as the development of the Interim Guidelines for an Energy Efficiency Design Index for new ships, an Energy Efficiency Operational Index and best practices for fuel efficient operation of ships throughout the industry.
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Friday, October 17, 2008
AXA Corporate Solutions upgrades Singapore operations
Insurance giant AXA Group subsidiary AXA Corporate Solutions has received approval from Monetary Authority of Singapore to upgrade its offices in the Lion City to a branch.
AXA Corporate Solutions Assurance Singapore Branch is now able to write all lines of general insurance in Singapore and enjoys the Standard & Poor’s rating of AA enjoyed by its parent group. AXA has been active for eight years in Singapore’s marine sector and currently writes an estimated $100 million in the region in marine and aviation coverages. The announcement comes during Singapore Maritime Week when a number of high-profile events will boost Singapore’s ambition of being recognized as an important international shipping centre. “This next stage in our development confirms our total commitment to Asia, and with the financial strength and re-affirmed S&P rating of AA for AXA Corporate Solutions, this will provide the absolute security and peace of mind demanded by our customers in Asia,” said Mike Davies, Singapore branch CEO.
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AXA Corporate Solutions Assurance Singapore Branch is now able to write all lines of general insurance in Singapore and enjoys the Standard & Poor’s rating of AA enjoyed by its parent group. AXA has been active for eight years in Singapore’s marine sector and currently writes an estimated $100 million in the region in marine and aviation coverages. The announcement comes during Singapore Maritime Week when a number of high-profile events will boost Singapore’s ambition of being recognized as an important international shipping centre. “This next stage in our development confirms our total commitment to Asia, and with the financial strength and re-affirmed S&P rating of AA for AXA Corporate Solutions, this will provide the absolute security and peace of mind demanded by our customers in Asia,” said Mike Davies, Singapore branch CEO.
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Indonesia unlocks 22 new blocks
Indonesia has awarded oil and gas exploration rights on 22 blocks to energy companies including US supermajors Chevron and ConcoPhillips, a senior mines and energy ministry official said.
Indonesia has turned into a net importer of crude in recent years as it has failed to tap new fields fast enough to replace declining production from ageing wells. It has been offering new exploration rights and financial incentives for exploration in a bid to stem its steady production decline. Evita Legowo, a director general at the energy ministry, said the government has awarded offshore and onshore West Papua 1 and West Papua 3 oil and gas blocks to Chevron Indonesia. She said Indonesia has also awarded exploration rights to ConcoPhillips for the offshore Arafura Sea Block in the Mollucas. "The prospects for findings hydrocarbons are still good in Indonesia, but we have to see the exploration acitivities first before determine the findings," Legowo told reporters. She said total investment for these blocks could reach around $308 million for the first three years. Indonesia also awarded oil and gas exploration rights to offshore North Sumbawa 2 Block, in Nusatenggara, to Husky Energy. A consortium of Marathon Indonesia, a unit of US independent Marathon Oil and Kaizan Oil were awarded exploration rights in offshore and onshore Bone Bay block in Sulawesi.
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Indonesia has turned into a net importer of crude in recent years as it has failed to tap new fields fast enough to replace declining production from ageing wells. It has been offering new exploration rights and financial incentives for exploration in a bid to stem its steady production decline. Evita Legowo, a director general at the energy ministry, said the government has awarded offshore and onshore West Papua 1 and West Papua 3 oil and gas blocks to Chevron Indonesia. She said Indonesia has also awarded exploration rights to ConcoPhillips for the offshore Arafura Sea Block in the Mollucas. "The prospects for findings hydrocarbons are still good in Indonesia, but we have to see the exploration acitivities first before determine the findings," Legowo told reporters. She said total investment for these blocks could reach around $308 million for the first three years. Indonesia also awarded oil and gas exploration rights to offshore North Sumbawa 2 Block, in Nusatenggara, to Husky Energy. A consortium of Marathon Indonesia, a unit of US independent Marathon Oil and Kaizan Oil were awarded exploration rights in offshore and onshore Bone Bay block in Sulawesi.
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Groundbreaking for New LNG Terminal in Mississippi
The ceremonial groundbreaking occurred yesterday for the Gulf LNG Clean Energy project located southeast of Pascagoula on the Pascagoula Bayou Casotte Ship Channel.
When completed, the liquefied natural gas terminal will enable 150 tankers per year to deliver natural gas from Africa. The project is scheduled for completion in late 2011 and is estimated to cost $1.1 billion. The project owners are El Paso (50%), The Crest Group (30%), and a subsidiary of the state-owned oil company of Angola, Sonangol USA (20 percent). The LNG terminal will have two storage tanks, with a combined capacity of 6.6 Bcf. The project includes approximately 5 miles of 36-inch diameter pipeline that will enable deliveries from the terminal to interstate pipelines, including Gulfstream, Destin, Florida Gas Transmission and Transco. The delivery capacity from the terminal to the interstate pipeline system will be approximately 1.3 Bcf/day. The project was first announced in 2004 and received approval from the Federal Energy Regulatory Commission (FERC) in February 2007.
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When completed, the liquefied natural gas terminal will enable 150 tankers per year to deliver natural gas from Africa. The project is scheduled for completion in late 2011 and is estimated to cost $1.1 billion. The project owners are El Paso (50%), The Crest Group (30%), and a subsidiary of the state-owned oil company of Angola, Sonangol USA (20 percent). The LNG terminal will have two storage tanks, with a combined capacity of 6.6 Bcf. The project includes approximately 5 miles of 36-inch diameter pipeline that will enable deliveries from the terminal to interstate pipelines, including Gulfstream, Destin, Florida Gas Transmission and Transco. The delivery capacity from the terminal to the interstate pipeline system will be approximately 1.3 Bcf/day. The project was first announced in 2004 and received approval from the Federal Energy Regulatory Commission (FERC) in February 2007.
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