Indonesia: Marine and Fisheries Minister Freddy Numberi has said that illegal fishing by foreign vessels costs the eastern part of the nation trillions of Rupiah in lost revenue per year.
Since January, more than 500 foreign ships have been caught fishing in Indonesian waters. However Mr Numberi said that foreign vessels continued to fish illegally in Indonesian waters including the Arafura Sea. “I remind all law and security officers involved in illegal fishing raids and investigations not to be lured with money offered by ships’ owners,” he was quoted as saying in the Jakarta Post. Mr Numberi said that illegal fishing also damaged sea biota.
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Sunday, November 30, 2008
Imarex announces third quarter results
Imarex continued its strong development in the third quarter 2008, with sharply increased operating revenue, operating profit and net results compared to the third quarter last year.
Earning per share was NOK 1.22 in the third quarter 2008, up from NOK 0.37 in the same period last year.The financial turmoil reduces demand visibility and the overall growth outlook but also opens new opportunities in clearing. While Imarex sees a positive long-term market outlook and remains well positioned to continue to gain market shares in all segments, the company acknowledges that the overall growth is likely to be lower than previously expected in the near- and medium-term. Please find enclosed the completed interim report and presentation for the third quarter 2008.Third quarter highlights: - Operating revenue of NOK 179 million in the third quarter, up from NOK 63 million in the third quarter 2007- Pre-tax profit of NOK 25.1 million, up from NOK 6.4 million in the third quarter in 2007 - Positive operating cash flow of NOK 13.9 million and liquid funds of NOK 643.8 million - Energy trading volume at 3,024 TWh, up 13% from the third quarter 2007 (pro forma) - Freight trading volume at 125,661 lots, up 40% from the third quarter 2007 ‘Although the Imarex Group will continue to evaluate growth opportunities through M&A, the company`s main focus is currently on organic business development and further improvements in operational efficiency and cost control,` says CEO Herman W. Michelet in Imarex.
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Earning per share was NOK 1.22 in the third quarter 2008, up from NOK 0.37 in the same period last year.The financial turmoil reduces demand visibility and the overall growth outlook but also opens new opportunities in clearing. While Imarex sees a positive long-term market outlook and remains well positioned to continue to gain market shares in all segments, the company acknowledges that the overall growth is likely to be lower than previously expected in the near- and medium-term. Please find enclosed the completed interim report and presentation for the third quarter 2008.Third quarter highlights: - Operating revenue of NOK 179 million in the third quarter, up from NOK 63 million in the third quarter 2007- Pre-tax profit of NOK 25.1 million, up from NOK 6.4 million in the third quarter in 2007 - Positive operating cash flow of NOK 13.9 million and liquid funds of NOK 643.8 million - Energy trading volume at 3,024 TWh, up 13% from the third quarter 2007 (pro forma) - Freight trading volume at 125,661 lots, up 40% from the third quarter 2007 ‘Although the Imarex Group will continue to evaluate growth opportunities through M&A, the company`s main focus is currently on organic business development and further improvements in operational efficiency and cost control,` says CEO Herman W. Michelet in Imarex.
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Oil hits $55 ahead of Opec talks
Oil rose in late trade on short-covering ahead of Opec's meeting this weekend after slowing demand sent prices down nearly 20% in November.
US crude traded up 76 cents to $55.20 a barrel at 2:32 p.m. EST (1932 GMT) in late post-settlement trade. Earlier, US crude settled at $54.43 a barrel, down 1 cent from Wednesday's close, in a shortened Nymex trading session. US markets, including the New York Mercantile Exchange, were shut on Thursday for the Thanksgiving holiday, though US crude did trade on the Globex electronic platform. London Brent crude settled at $53.49, up 36 cents from Thursday. "It looked like there was some short-covering ahead of the Opec meeting," Jim Ritterbusch, president, Ritterbusch & Associates, in Galena, Illinois, told Reuters. "There was some support from the recovery in the stock market." US stocks rebounded from early losses as financials gained on signs that liquidity measures were beginning to work. Oil prices have tumbled from record highs over $147 a barrel struck in July as demand in the US and other large consumer nations slumped amid an economic crisis. Global oil demand is expected to decline slightly this year and next, the first fall in a generation because of the world economic downturn, according to a Reuters poll. Crude's steep November drop followed a 32% fall in October, the biggest monthly drop ever. The losses came despite agreements by Opec since September to cut output by a total of 2 million barrels per day. Opec ministers gathering in Cairo for an informal meeting this weekend said they were likely to defer a decision on more output cuts until the 17 December meeting in Algeria. A Reuters poll this week of 15 analysts forecast by a narrow margin that Opec would make no announcement of a further reduction in oil output this weekend but would probably do so at its meeting in Algeria.
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US crude traded up 76 cents to $55.20 a barrel at 2:32 p.m. EST (1932 GMT) in late post-settlement trade. Earlier, US crude settled at $54.43 a barrel, down 1 cent from Wednesday's close, in a shortened Nymex trading session. US markets, including the New York Mercantile Exchange, were shut on Thursday for the Thanksgiving holiday, though US crude did trade on the Globex electronic platform. London Brent crude settled at $53.49, up 36 cents from Thursday. "It looked like there was some short-covering ahead of the Opec meeting," Jim Ritterbusch, president, Ritterbusch & Associates, in Galena, Illinois, told Reuters. "There was some support from the recovery in the stock market." US stocks rebounded from early losses as financials gained on signs that liquidity measures were beginning to work. Oil prices have tumbled from record highs over $147 a barrel struck in July as demand in the US and other large consumer nations slumped amid an economic crisis. Global oil demand is expected to decline slightly this year and next, the first fall in a generation because of the world economic downturn, according to a Reuters poll. Crude's steep November drop followed a 32% fall in October, the biggest monthly drop ever. The losses came despite agreements by Opec since September to cut output by a total of 2 million barrels per day. Opec ministers gathering in Cairo for an informal meeting this weekend said they were likely to defer a decision on more output cuts until the 17 December meeting in Algeria. A Reuters poll this week of 15 analysts forecast by a narrow margin that Opec would make no announcement of a further reduction in oil output this weekend but would probably do so at its meeting in Algeria.
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Baltic Dry Index teeters on record low
Hong Kong: On Thursday, the Baltic Dry Index, which measures dry bulk shipping rates on 40 routes across the world, sank 3.9% to 733 points, its seventh straight daily decline and its lowest level since January 1987.
The index has plummeted 94% from its high in late May. Many are anticipating that in the next couple of weeks it could hit a record low. Putting a brave face on the market, Kenneth Koo, group ceo and chairman of Hong Kong bulk owner Tai Chong Cheang Steamship, told Seatrade at a press conference earlier this week, that he hoped the current plunge would be a 'short and sharp' one. He said the market could be back up to manageable levels by Q2 next year. Mr Koo, who is also deputy chairman of the Hong Kong Shipowners Association, was speaking at an event in Hong Kong to detail next year's premier shipping event, Sea Asia, to be held in Singapore on April 21 where leading owners will debate the perilous state of the markets.
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The index has plummeted 94% from its high in late May. Many are anticipating that in the next couple of weeks it could hit a record low. Putting a brave face on the market, Kenneth Koo, group ceo and chairman of Hong Kong bulk owner Tai Chong Cheang Steamship, told Seatrade at a press conference earlier this week, that he hoped the current plunge would be a 'short and sharp' one. He said the market could be back up to manageable levels by Q2 next year. Mr Koo, who is also deputy chairman of the Hong Kong Shipowners Association, was speaking at an event in Hong Kong to detail next year's premier shipping event, Sea Asia, to be held in Singapore on April 21 where leading owners will debate the perilous state of the markets.
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Saturday, November 29, 2008
Mumbai violence claims maritime victim
Mumbai: Yacht charterer Andreas Liveras has been confirmed as one of the fatalities of the terror strikes in the city of Mumbai – India’s financial capital.
The attacks, which have killed over 120 people and wounded over 300 more, have brought business in the city to a virtual standstill and lead to a suspension of activity at the ports due to a curfew imposed by the army. Liveras, a British-citizen, operated a family run luxury yacht charter business. He was one of a number of people severely injured when armed terrorists took control of the Taj Mahal Hotel (pictured) and was declared dead upon arrival at St George’s hospital this morning as the result of gun shot wounds. Police in Mumbai are still trying to resolve the situation, which began on Wednesday evening. A number of foreign nationals are still being held hostage at the Oberoi Trident Hotel. Local papers have reported that two of the captured terrorists may hold British passports, but co-ordinated the attacks from neighbouring Pakistan. The situation remains unclear at this time.
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The attacks, which have killed over 120 people and wounded over 300 more, have brought business in the city to a virtual standstill and lead to a suspension of activity at the ports due to a curfew imposed by the army. Liveras, a British-citizen, operated a family run luxury yacht charter business. He was one of a number of people severely injured when armed terrorists took control of the Taj Mahal Hotel (pictured) and was declared dead upon arrival at St George’s hospital this morning as the result of gun shot wounds. Police in Mumbai are still trying to resolve the situation, which began on Wednesday evening. A number of foreign nationals are still being held hostage at the Oberoi Trident Hotel. Local papers have reported that two of the captured terrorists may hold British passports, but co-ordinated the attacks from neighbouring Pakistan. The situation remains unclear at this time.
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Shipping industry runs into troubled waters
The financial crisis of the last few months and the ensuing economic downturn are putting enormous strains on the once booming ocean shipping industry.
Benefiting from the past several years of expanding shipping volumes and building ever-larger ships to meet increasing demand to move containers, the shipping industry is now starting to seize up as the demand substantially weakens. As a result, major container shippers, bulk operators and port authorities in China are suddenly suffering badly as the slumping export sector passes on the impact of slumping worldwide demand. Shanghai, one of the world's busiest ports, has cut its container traffic target for the year by 5 percent, blaming this on the global financial crisis and an economic slowdown. With a container volume of 26.15 million twenty-foot equivalent units (TEUs) last year on the back of over 20 percent growth, Shanghai surpassed Hong Kong for the first time in 2007 to become the world's No 2 container port, second only to Singapore. However, such phenomenal growth has been tempered by the ongoing global economic recession. Total container throughput in Shanghai is expected to reach 28.5 million TEUs, less than its earlier target of 30 million TEUs. The port attributed the slowdown to the drop in export volumes and sluggish domestic demand, according to Chen Xiyuan, president of Shanghai International Port Group Co (SIPG), operator of China's busiest container port. Chen said container exports to the US, which account for 20 percent of the city's total export volume, have slid 7.8 percent in the first nine months of this year. In addition, shipping fees have been dropping like a stone, Chen said. The shipping price from Shanghai to Europe, for example, has fallen from $1,000 to $200 per container since the beginning of this year. With the Baltic Dry Index (BDI), a measure of commodity-shipping rates, tumbling 90 percent off its May peak, many shipping companies in China are reportedly keeping their ships idle, because the current prices can barely cover their costs. The situation is just as grim at shipyards. As slowing economic growth cuts demand for steel, coal and iron ore, demand for ships is also falling.
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Benefiting from the past several years of expanding shipping volumes and building ever-larger ships to meet increasing demand to move containers, the shipping industry is now starting to seize up as the demand substantially weakens. As a result, major container shippers, bulk operators and port authorities in China are suddenly suffering badly as the slumping export sector passes on the impact of slumping worldwide demand. Shanghai, one of the world's busiest ports, has cut its container traffic target for the year by 5 percent, blaming this on the global financial crisis and an economic slowdown. With a container volume of 26.15 million twenty-foot equivalent units (TEUs) last year on the back of over 20 percent growth, Shanghai surpassed Hong Kong for the first time in 2007 to become the world's No 2 container port, second only to Singapore. However, such phenomenal growth has been tempered by the ongoing global economic recession. Total container throughput in Shanghai is expected to reach 28.5 million TEUs, less than its earlier target of 30 million TEUs. The port attributed the slowdown to the drop in export volumes and sluggish domestic demand, according to Chen Xiyuan, president of Shanghai International Port Group Co (SIPG), operator of China's busiest container port. Chen said container exports to the US, which account for 20 percent of the city's total export volume, have slid 7.8 percent in the first nine months of this year. In addition, shipping fees have been dropping like a stone, Chen said. The shipping price from Shanghai to Europe, for example, has fallen from $1,000 to $200 per container since the beginning of this year. With the Baltic Dry Index (BDI), a measure of commodity-shipping rates, tumbling 90 percent off its May peak, many shipping companies in China are reportedly keeping their ships idle, because the current prices can barely cover their costs. The situation is just as grim at shipyards. As slowing economic growth cuts demand for steel, coal and iron ore, demand for ships is also falling.
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Vietnamese workers laid off as shipbuilders and owners face bankruptcy
Vietnam: Thousands of workers have lost their jobs as shipyards in the Xuan Truong district in the Nam Dinh Province.
Between 1,500 and 3,000 workers have been laid off indefinitely, the Chief of the Secretariat of the Xuan Truong District People’s Committee Doan Nang Vinh confirmed. Hundreds of incomplete ships have thus been abandoned in this district located along the Red River Delta. Deputy Head of the Xuan Truong District’s Industry and Trade Sub-Department, Ngo Doan Tho said that shipbuilders and owners were unable to secure finances and were facing bankruptcy. It generally costs over US$2.05 million to build a 2,000-tonne ship and ship owners generally borrow the majority of this figure from the banks, but they cannot afford the current interest rates.
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Between 1,500 and 3,000 workers have been laid off indefinitely, the Chief of the Secretariat of the Xuan Truong District People’s Committee Doan Nang Vinh confirmed. Hundreds of incomplete ships have thus been abandoned in this district located along the Red River Delta. Deputy Head of the Xuan Truong District’s Industry and Trade Sub-Department, Ngo Doan Tho said that shipbuilders and owners were unable to secure finances and were facing bankruptcy. It generally costs over US$2.05 million to build a 2,000-tonne ship and ship owners generally borrow the majority of this figure from the banks, but they cannot afford the current interest rates.
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'Kurdish oil deals not valid'
Iraq's Oil Minister Hussain Shahristani said today that oil contracts signed by the Kurdish Regional Government (KRG) with foreign oil companies are not legally valid.
The comments come despite an initial agreement on Thursday between the central Iraqi oil ministry and the largely autonomous Kurdish authorities to allow exports from Kurdistan to Turkey. Norwegian oil company DNO has a concession with the KRG from which it hopes to start exports of 100,000 barrels per day in the first quarter of next year. But Shahristani said the revenues from oil produced anywhere in Iraq belonged to central government for redistribution around the country. "Those contracts have not been reviewed by the ministry of oil and have not been recognised by the federal government," he told Reuters ahead of tomorrow's Opec meeting. "The decision is that any oil that is produced in any part of the country has to be handed over to the federal government and the ministry of oil will export it. The revenues will go to the central budget for distribution inside the country."
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The comments come despite an initial agreement on Thursday between the central Iraqi oil ministry and the largely autonomous Kurdish authorities to allow exports from Kurdistan to Turkey. Norwegian oil company DNO has a concession with the KRG from which it hopes to start exports of 100,000 barrels per day in the first quarter of next year. But Shahristani said the revenues from oil produced anywhere in Iraq belonged to central government for redistribution around the country. "Those contracts have not been reviewed by the ministry of oil and have not been recognised by the federal government," he told Reuters ahead of tomorrow's Opec meeting. "The decision is that any oil that is produced in any part of the country has to be handed over to the federal government and the ministry of oil will export it. The revenues will go to the central budget for distribution inside the country."
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MV Biscaglia latest victim of piracy
Singapore: The Liberia flagged chemical tanker Biscaglia has become the latest casualty of piracy in the Gulf of Aden.
Three crew members managed to escape the Singapore-owned vessel during its capture early this morning, by jumping overboard. They were later rescued from the sea by a German Naval helicopter. According to reports, 28 other crew members remain onboard the tanker, which is the 30th vessel to be hijacked by Somalian pirates this year. "The MV Biscaglia was attacked this morning,” the BBC quotes the British High Commission in Nairobi as saying. "The three men were picked up by a German naval helicopter and taken to a French warship. They are now safely on board." Two of the rescued men are said to have been employed as onboard security for the tanker.
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Three crew members managed to escape the Singapore-owned vessel during its capture early this morning, by jumping overboard. They were later rescued from the sea by a German Naval helicopter. According to reports, 28 other crew members remain onboard the tanker, which is the 30th vessel to be hijacked by Somalian pirates this year. "The MV Biscaglia was attacked this morning,” the BBC quotes the British High Commission in Nairobi as saying. "The three men were picked up by a German naval helicopter and taken to a French warship. They are now safely on board." Two of the rescued men are said to have been employed as onboard security for the tanker.
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Friday, November 28, 2008
Keppel in talks with Seadrill, Scorpion and Lewek on their contracts
Keppel Offshore & Marine Limited has received indications from Seadrill Limited, Scorpion Offshore Ltd, and Lewek Shipping Pte Ltd that they are reviewing their options on their newbuilding contracts, signed in the middle of this year.
The contracts under review are for a semisubmersible for Scorpion Offshore, two jackup rigs for Seadrill and a Multi-Functional Support Vessel for Lewek Shipping. Keppel O&M is in talks with them to arrive at mutually acceptable arrangements for these contracts. Construction work has not started on these projects, for which Keppel O&M has received down payments. If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008. Keppel O&M has a strong orderbook of about $12.5 billion extending through to 2012 and its contracts are cashflow positive.
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The contracts under review are for a semisubmersible for Scorpion Offshore, two jackup rigs for Seadrill and a Multi-Functional Support Vessel for Lewek Shipping. Keppel O&M is in talks with them to arrive at mutually acceptable arrangements for these contracts. Construction work has not started on these projects, for which Keppel O&M has received down payments. If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008. Keppel O&M has a strong orderbook of about $12.5 billion extending through to 2012 and its contracts are cashflow positive.
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Vulnerability of coastline in focus
New Delhi: Even as elite commando units from the Navy and the National Security Guard mounted operations to flush out terrorists from the Taj and Trident-Oberoi hotels on Thursday, security and intelligence agencies stressed on the vulnerability of India’s 7,516-km coastline along nine States and four Union Territories.
Though the “Coastal Security Scheme” was launched in March 2006 by the Union Home Ministry, the breach of coastline in Mumbai on Wednesday by terrorists showed they could enter through the gaps. As Mumbai’s nightmarish terror attacks began and the security and intelligence agencies apprehended its gravity, arrangements were made to fly the first lot of commandos in an IL-76 military transport aircraft, owned by the Aviation Research Centre of the Research and Analysis Wing, at 3 a.m. Along the coast from Mumbai to Gujarat, ships were being intercepted and checked by the Navy and the Coast Guard. Sources in the Home Ministry said the Coastal Security Scheme was being given top priority for setting up 73 coastal police stations, 97 check posts, 58 outposts and 30 barracks. About 50 of the 73 approved coastal police stations had already been made operational, the sources said. Under the scheme, the coastal police stations were to be equipped with 204 boats, 149 jeeps, 312 motorcycles for increasing mobility of the police personnel on the coasts and in close coastal waters. The scheme has been reviewed by the Home Ministry from time to time. The Coast Guard has also been imparting training to different State police personnel in mounting maritime vigil.
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Though the “Coastal Security Scheme” was launched in March 2006 by the Union Home Ministry, the breach of coastline in Mumbai on Wednesday by terrorists showed they could enter through the gaps. As Mumbai’s nightmarish terror attacks began and the security and intelligence agencies apprehended its gravity, arrangements were made to fly the first lot of commandos in an IL-76 military transport aircraft, owned by the Aviation Research Centre of the Research and Analysis Wing, at 3 a.m. Along the coast from Mumbai to Gujarat, ships were being intercepted and checked by the Navy and the Coast Guard. Sources in the Home Ministry said the Coastal Security Scheme was being given top priority for setting up 73 coastal police stations, 97 check posts, 58 outposts and 30 barracks. About 50 of the 73 approved coastal police stations had already been made operational, the sources said. Under the scheme, the coastal police stations were to be equipped with 204 boats, 149 jeeps, 312 motorcycles for increasing mobility of the police personnel on the coasts and in close coastal waters. The scheme has been reviewed by the Home Ministry from time to time. The Coast Guard has also been imparting training to different State police personnel in mounting maritime vigil.
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Signal Dock - Thunder Hawk Hull Repair
Signal International announced that SBM-Atlantia’s Thunder Hawk is currently drydocked at the company’s Port Arthur Texas facility for hull repairs.
The huge structure arrived at Port Arthur after being transported from Singapore on a heavy lift dry-tow vessel. Drydocking of the newbuild semi will enable Signal to repair damage that was done to Thunder Hawk’s pontoons before leaving Southeast Asia. Repairs consist of: grit-blasting to bare metal the perimeter of the damaged outer hull, torch cutting to enable removal of the damaged hull segments, fitting and welding of the prefabricated replacement hull sections and restoring coatings in accordance with the design specifications. The on-dock work is expected to take 30 to 45 days and employ up to 200 additional craftsmen. Signal International, LLC, is a marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Mobile, Alabama, Signal currently employs over 4,000 workers in its six production facilities, two in Mississippi and four in Texas.
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The huge structure arrived at Port Arthur after being transported from Singapore on a heavy lift dry-tow vessel. Drydocking of the newbuild semi will enable Signal to repair damage that was done to Thunder Hawk’s pontoons before leaving Southeast Asia. Repairs consist of: grit-blasting to bare metal the perimeter of the damaged outer hull, torch cutting to enable removal of the damaged hull segments, fitting and welding of the prefabricated replacement hull sections and restoring coatings in accordance with the design specifications. The on-dock work is expected to take 30 to 45 days and employ up to 200 additional craftsmen. Signal International, LLC, is a marine and fabrication companies in the Gulf of Mexico providing repair, upgrade, new construction and fabrication services to the offshore and marine industry. Headquartered in Mobile, Alabama, Signal currently employs over 4,000 workers in its six production facilities, two in Mississippi and four in Texas.
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Maritime authorities of Singapore and Panama to strengthen ties
The Maritime and Port Authority of Singapore (MPA) Chief Executive Tay Lim Heng said that his organization and the Panama Maritime Authority (AMP) will strengthen ties to face the issue of piracy and further co-operation between flag states.
MPA's Tay Lim Heng, accompanied by Singapore Ambassador to Panama Ms. Mary Seet Cheng, was visiting Panama to meet the AMP Administrator Fernando Solorzano and AMP Merchant Marine Chief Alfonso Castillero, the Panama Canal Administrator and Panama's Chamber of Shipping president. The discussions between the two maritime authorities focused on the future signature of a Memorandum of Understanding between both countries to promote co-operation of Panama and Singapore as flag states, regional cooperation to combat piracy and armed robbery, updates on co-operative mechanisms, greenhouse Co2 emissions and synergy in maritime education and training. "It is a good start," said Tay who noted that both authorities face common challenges. "There is the potential to co-operate more closely," said Tay. Tay invited Panama to join the Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP) and participate in the next Government Meeting in February in Singapore, whether Panama could play a role in the organization.
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MPA's Tay Lim Heng, accompanied by Singapore Ambassador to Panama Ms. Mary Seet Cheng, was visiting Panama to meet the AMP Administrator Fernando Solorzano and AMP Merchant Marine Chief Alfonso Castillero, the Panama Canal Administrator and Panama's Chamber of Shipping president. The discussions between the two maritime authorities focused on the future signature of a Memorandum of Understanding between both countries to promote co-operation of Panama and Singapore as flag states, regional cooperation to combat piracy and armed robbery, updates on co-operative mechanisms, greenhouse Co2 emissions and synergy in maritime education and training. "It is a good start," said Tay who noted that both authorities face common challenges. "There is the potential to co-operate more closely," said Tay. Tay invited Panama to join the Regional Cooperation Agreement on Combating Piracy and Armed Robbery (ReCAAP) and participate in the next Government Meeting in February in Singapore, whether Panama could play a role in the organization.
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Indonesia cracks down on cruise ship gambling
The Indonesian Government may take action against people who gamble when they arrive in Indonesia and transit to cruise ships that sail beyond Indonesian jurisdiction, as they might be breaking national laws that apply to Indonesian sovereign territory.
According to the Jakarta Post, gamblers arrive by ferry from Malaysia and Singapore and transit at either the Nongsa Pura or Harbor Bay Batam harbours, and then depart on a cruise ship that sails into international waters. “They usually come in groups of hundreds of people, using ferries from Singapore or Malaysia,” Riau Island police officer Brig Gen Indradi Thanos was quoted as saying in the Jakarta Post. But it seems that these people might be breaking national rules about gamblers in transit. While the cruise ships anchor at sea at a point which does not count as Indonesian territory, the police cannot take legal action against the gamblers; however Brig Gen Thanos said that the transit through Indonesian territory may be grounds for legal action as they may have broken rules on sovereignty.
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According to the Jakarta Post, gamblers arrive by ferry from Malaysia and Singapore and transit at either the Nongsa Pura or Harbor Bay Batam harbours, and then depart on a cruise ship that sails into international waters. “They usually come in groups of hundreds of people, using ferries from Singapore or Malaysia,” Riau Island police officer Brig Gen Indradi Thanos was quoted as saying in the Jakarta Post. But it seems that these people might be breaking national rules about gamblers in transit. While the cruise ships anchor at sea at a point which does not count as Indonesian territory, the police cannot take legal action against the gamblers; however Brig Gen Thanos said that the transit through Indonesian territory may be grounds for legal action as they may have broken rules on sovereignty.
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Dana Gas proceeds with Sharjah exploration, development
Dana Gas will proceed with exploration and development plans at the Western Offshore concession in the Emirate of Sharjah as part of a new 25-year agreement with the Government of Sharjah, UAE.
The deal will see Dana Gas’ entry in the GCC exploration sector. It also marks the company’s first offshore upstream asset. The concession covers some 1,000 square kilometres offshore, and will also include the development of the Zora offshore gas field by mid-2009. Dana Gas will complete the horizontal drilling of two wells which were drilled by Crescent Petroleum. The company will then install offshore platforms for processing and production.
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The deal will see Dana Gas’ entry in the GCC exploration sector. It also marks the company’s first offshore upstream asset. The concession covers some 1,000 square kilometres offshore, and will also include the development of the Zora offshore gas field by mid-2009. Dana Gas will complete the horizontal drilling of two wells which were drilled by Crescent Petroleum. The company will then install offshore platforms for processing and production.
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Thursday, November 27, 2008
Dry bulk trade keeps suffering
Just when everybody thought that the dry bulk market had stabilized a new plunge this week has brought freight rates to their lowest in almost 22 years, as demand for raw materials in China and other key countries continued to fall, mainly due to the global economic crisis.
The Baltic Dry Index fell to 762 points down 5.1 per cent on the day and the lowest level since January 1987. The index has fallen 93.5 per cent since its all-time high of 11,793 points in May. It’s clear that with freight rates so low, most vessels are losing money nowadays, while ship owners are forced to finance their operations even from their own pockets (public companies excluded), with banks still not keen on opening their credit lines. Fearnley’s report yesterday described the previous seven days in the market with words like “quiet week”. In the once famous capesize sector, comprised of bulkers over 150,000-dwt, the market took a turn for the worse, with a modern Caper being fixex at $1,000 for a Transatlantic round voyage and a similar unit fixing usd 5,750 for a front haul with a ballast bonus that does not cover the ballast costs, reported Fearnley’s. The broker also said that “in the Pacific, India has seized the opportunity to sell some ore and several fixtures have been reported. On steam coal, Korea is the only light we see with MoM volumes up by over 13%, though this only benefits the smaller Capesize vessels due to port restrictions at discharge port”. In the panamax segment, which had led the modest gains during the previous weeks, things don’t look rosy either. Things aren’t that different in the supramax market, where period chartering activity remains in the low teens for one year with charterers seeking tonnage willing optional years but it is tough to find owners on such terms at present. With conditions far from optimistic, owners are actively looking to weather the storm, which could take more than six months to rebound, at least in a sustainable way.
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The Baltic Dry Index fell to 762 points down 5.1 per cent on the day and the lowest level since January 1987. The index has fallen 93.5 per cent since its all-time high of 11,793 points in May. It’s clear that with freight rates so low, most vessels are losing money nowadays, while ship owners are forced to finance their operations even from their own pockets (public companies excluded), with banks still not keen on opening their credit lines. Fearnley’s report yesterday described the previous seven days in the market with words like “quiet week”. In the once famous capesize sector, comprised of bulkers over 150,000-dwt, the market took a turn for the worse, with a modern Caper being fixex at $1,000 for a Transatlantic round voyage and a similar unit fixing usd 5,750 for a front haul with a ballast bonus that does not cover the ballast costs, reported Fearnley’s. The broker also said that “in the Pacific, India has seized the opportunity to sell some ore and several fixtures have been reported. On steam coal, Korea is the only light we see with MoM volumes up by over 13%, though this only benefits the smaller Capesize vessels due to port restrictions at discharge port”. In the panamax segment, which had led the modest gains during the previous weeks, things don’t look rosy either. Things aren’t that different in the supramax market, where period chartering activity remains in the low teens for one year with charterers seeking tonnage willing optional years but it is tough to find owners on such terms at present. With conditions far from optimistic, owners are actively looking to weather the storm, which could take more than six months to rebound, at least in a sustainable way.
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K-Line announces delivery of 154,800m3 LNG Carrier
A consortium comprising Kawasaki Kisen Kaisha, Ltd. (‘K’ Line) and P.T. Meratus Line (**) is pleased to announce the successful delivery of a brand new 154,800m3 Liquefied Natural Gas (LNG) Carrier, ‘TANGGUH FOJA’, constructed at Samsung Heavy Industries, Co., Ltd. in Korea.
The vessel will be chartered to the TANGGUH LNG operated by BP soon after her delivery as the first in a series of 3 vessels under ‘K’ Line operation. ‘K’ Line Ship Management Co., Ltd. will be responsible for the management of ‘TANGGUH FOJA’. This latest delivery will result in bringing the number of vessels in ‘K’ Line Group’s LNG carrier fleet to a total of 43. In 2005, ‘K’ Line and its Indonesian consortium partner, P.T. Meratus Line, were successfully awarded Time Charter Contracts for three vessels in a bidding process to procure seven LNG carriers by the TANGGUH LNG, with “TANGGUH FOJA” having the honor of being the first one of the seven. These newly-built vessels incorporate the most modern Dual Fuel Diesel Electric (DFDE) Engines, thereby achieving better fuel efficiency together with greater environmental benefits. The name of ‘FOJA’ together with ‘TANGGUH JAYA’ that will be our second vessel originate from the name of mountains in Papua, Indonesia where LNG Plant for the TANGGUH LNG is located, while the name of TANGGUH PALUNG for our third vessel comes from the mountain in Kalimantan where the first LNG plant in Indonesia was established. TANGGUH JAYA and TANGGUH PALUNG are scheduled for delivery at the end of this year and first quarter of 2009, respectively. ‘K’ Line is committed to maximizing the utilization of Indonesian crew onboard those 3 TANGGUH vessels. In keeping with a policy of always giving first priority to safety in its services, ‘K’ Line will continue committing itself to contributing to the expansion of energy transportation business.
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The vessel will be chartered to the TANGGUH LNG operated by BP soon after her delivery as the first in a series of 3 vessels under ‘K’ Line operation. ‘K’ Line Ship Management Co., Ltd. will be responsible for the management of ‘TANGGUH FOJA’. This latest delivery will result in bringing the number of vessels in ‘K’ Line Group’s LNG carrier fleet to a total of 43. In 2005, ‘K’ Line and its Indonesian consortium partner, P.T. Meratus Line, were successfully awarded Time Charter Contracts for three vessels in a bidding process to procure seven LNG carriers by the TANGGUH LNG, with “TANGGUH FOJA” having the honor of being the first one of the seven. These newly-built vessels incorporate the most modern Dual Fuel Diesel Electric (DFDE) Engines, thereby achieving better fuel efficiency together with greater environmental benefits. The name of ‘FOJA’ together with ‘TANGGUH JAYA’ that will be our second vessel originate from the name of mountains in Papua, Indonesia where LNG Plant for the TANGGUH LNG is located, while the name of TANGGUH PALUNG for our third vessel comes from the mountain in Kalimantan where the first LNG plant in Indonesia was established. TANGGUH JAYA and TANGGUH PALUNG are scheduled for delivery at the end of this year and first quarter of 2009, respectively. ‘K’ Line is committed to maximizing the utilization of Indonesian crew onboard those 3 TANGGUH vessels. In keeping with a policy of always giving first priority to safety in its services, ‘K’ Line will continue committing itself to contributing to the expansion of energy transportation business.
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Fiomarine Sells Buoys to US Navy
The United States Navy received a second major shipment of Fiobuoys, made by Fiomarine, a small company based in Tasmania, Australia.
The shipments are part of a two-year supply contract. The contract represents a 340 per cent sales growth for Fiomarine in less than three years. The order for its Fiobuoy underwater retrieval system is Fiomarine’s largest to date, and makes the U.S. the chief user of the technology. Fiomarine is now pursuing other U.S. markets, beginning with an exhibition at the International Workboat Show in New Orleans in December. Fiomarine is one of only a few Australian companies that supplies directly to the U.S. Defense Department. “The Australian Defence Force (ADF) has been using Fiobuoys for ten years, so it was only a matter of time,” said Fiomarine Commercial Director John Fiotakis. Mr. Fiotakis invented the submersible marine marker buoy and retrieval system in the 1980s when his boat’s motors were caught in a number of crayfish pot lines. The idea of keeping everything hidden underwater was quickly recognized by the ADF as an invaluable tool in defense operations. The Fiobuoy is a buoy that remains submerged underwater while tethered to equipment or assets. To retrieve that equipment, a signal is sent to the buoy to release itself and complete its marking function on the surface. It is currently used by the Navies of Australia, U.S., Singapore and Japan, and in support of marine research and hydrographic operations around the world. Fiomarine is exhibiting as part of Maritime Tasmania at Booth 3327 at International Workboat.
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The shipments are part of a two-year supply contract. The contract represents a 340 per cent sales growth for Fiomarine in less than three years. The order for its Fiobuoy underwater retrieval system is Fiomarine’s largest to date, and makes the U.S. the chief user of the technology. Fiomarine is now pursuing other U.S. markets, beginning with an exhibition at the International Workboat Show in New Orleans in December. Fiomarine is one of only a few Australian companies that supplies directly to the U.S. Defense Department. “The Australian Defence Force (ADF) has been using Fiobuoys for ten years, so it was only a matter of time,” said Fiomarine Commercial Director John Fiotakis. Mr. Fiotakis invented the submersible marine marker buoy and retrieval system in the 1980s when his boat’s motors were caught in a number of crayfish pot lines. The idea of keeping everything hidden underwater was quickly recognized by the ADF as an invaluable tool in defense operations. The Fiobuoy is a buoy that remains submerged underwater while tethered to equipment or assets. To retrieve that equipment, a signal is sent to the buoy to release itself and complete its marking function on the surface. It is currently used by the Navies of Australia, U.S., Singapore and Japan, and in support of marine research and hydrographic operations around the world. Fiomarine is exhibiting as part of Maritime Tasmania at Booth 3327 at International Workboat.
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NASSCO lays keel for 'Sunshine State' product carrier
USA: NASSCO, has held a keel laying ceremony for its third product carrier.
The ship is being built for US Shipping Partners and is scheduled to be delivered in the fourth quarter of 2009. NASSCO began construction of the ship in July. It will be 182.8-metres-long and have a cargo capacity of 331,000 barrels. The ship will be used in coastal trade, carrying petroleum and chemical products. US Shipping Partners previously announced that the ship would be named ‘Sunshine State’, the state nickname of Florida. ‘Sunshine State’ will be part of the "State" class of product carriers, all of which are named after state nicknames. The previous two ships are ‘Golden State’ and ‘Pelican State’, named in honour of California and Louisiana, respectively.
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The ship is being built for US Shipping Partners and is scheduled to be delivered in the fourth quarter of 2009. NASSCO began construction of the ship in July. It will be 182.8-metres-long and have a cargo capacity of 331,000 barrels. The ship will be used in coastal trade, carrying petroleum and chemical products. US Shipping Partners previously announced that the ship would be named ‘Sunshine State’, the state nickname of Florida. ‘Sunshine State’ will be part of the "State" class of product carriers, all of which are named after state nicknames. The previous two ships are ‘Golden State’ and ‘Pelican State’, named in honour of California and Louisiana, respectively.
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Contractors re-think newbuild orders
Keppel Offshore & Marine has received indications from Seadrill, Scorpion Offshore and Lewek Shipping that they are reviewing their options on newbuilding contracts that were signed in the middle of this year.
The contracts under review are for a semisubmersible for Scorpion Offshore, two jack-up rigs for Seadrill and a multi-functional support vessel for Lewek Shipping. Keppel is in talks with them to arrive at mutually acceptable arrangements for these contracts, said the company in a statement. Construction work has not started on these projects, but down payments have been received. “If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008,” said Keppel.
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The contracts under review are for a semisubmersible for Scorpion Offshore, two jack-up rigs for Seadrill and a multi-functional support vessel for Lewek Shipping. Keppel is in talks with them to arrive at mutually acceptable arrangements for these contracts, said the company in a statement. Construction work has not started on these projects, but down payments have been received. “If these contracts are cancelled, the cancellations are not expected to have any material impact on the net tangible assets or earnings per share of Keppel Corporation for the financial year ending 31 December 2008,” said Keppel.
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Tuesday, November 25, 2008
Ship sinks in northern Philippines, 11 missing
Manila - At least 11 people were missing in the Philippines after ship carrying heavy equipment for an airport expansion project sank in northern waters.
Vice Admiral Wilfredo Tamayo told that nine other people from the Mark Jason I were rescued by two passing ships in choppy waters off Calayan island on Tuesday night. "Those rescued were seen clinging to the half-submerged ship," Tamayo said, adding it was difficult to search for the others because of poor visibility and bad weather conditions. "We were told rescuers in the area were encountering strong winds, huge waves and poor visibility." Tamayo said coast guard search-and-rescue vessels and an aircraft had been sent to look for the missing crew and passengers. The Mark Jason I left Manila a week ago with 14 crew and six other men bringing heavy equipment to Batanes island, off the northern tip of the main Luzon island. Ship accidents are common in the Philippines. Early this month, 39 people, including eight children, were drowned after a boat capsized in the central Philippines.
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Vice Admiral Wilfredo Tamayo told that nine other people from the Mark Jason I were rescued by two passing ships in choppy waters off Calayan island on Tuesday night. "Those rescued were seen clinging to the half-submerged ship," Tamayo said, adding it was difficult to search for the others because of poor visibility and bad weather conditions. "We were told rescuers in the area were encountering strong winds, huge waves and poor visibility." Tamayo said coast guard search-and-rescue vessels and an aircraft had been sent to look for the missing crew and passengers. The Mark Jason I left Manila a week ago with 14 crew and six other men bringing heavy equipment to Batanes island, off the northern tip of the main Luzon island. Ship accidents are common in the Philippines. Early this month, 39 people, including eight children, were drowned after a boat capsized in the central Philippines.
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Yantai Raffles debuts world's strongest crane
Yantai Raffles Shipyard in China has celebrated the first commercial lift by its eagerly awaited new 20,000 tonne capacity crane system Taisun before a crowd of 750 local and international industry figures.
The massive 14,000 tonne deckbox of COSL semi-submersible drilling rig COSL Pioneer was lifted and mated onto the columns and hull of the Rig in one single operation, described as an unprecedented feat within the industry. The megalift crane system has taken the best part of 10 years to plan, design, build and install. "Taisun marks a fresh chapter in offshore engineering and construction," said YRS deputy chairman Brian Chang during the ceremony. "We believe that this new construction methodology will create tremendous, mutually beneficial value for us and our clients.” Taisun enabled the concurrent construction of the COSLPioneer deckbox and hull; thereby bringing increased efficiency in project execution, up to 2m saved man hours, overall cost savings and extra yard capacity for YRS. The amount of work required at precarious heights was also greatly reduced, also improving safety levels and quality. Taisun can also carry out installation of Floating, Production, Storage and Off-loading (FPSO) topsides onto the FPSO Hull, decommissioning of rigs as well as hoisting of mega structures with a width of up to 120 metres.
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The massive 14,000 tonne deckbox of COSL semi-submersible drilling rig COSL Pioneer was lifted and mated onto the columns and hull of the Rig in one single operation, described as an unprecedented feat within the industry. The megalift crane system has taken the best part of 10 years to plan, design, build and install. "Taisun marks a fresh chapter in offshore engineering and construction," said YRS deputy chairman Brian Chang during the ceremony. "We believe that this new construction methodology will create tremendous, mutually beneficial value for us and our clients.” Taisun enabled the concurrent construction of the COSLPioneer deckbox and hull; thereby bringing increased efficiency in project execution, up to 2m saved man hours, overall cost savings and extra yard capacity for YRS. The amount of work required at precarious heights was also greatly reduced, also improving safety levels and quality. Taisun can also carry out installation of Floating, Production, Storage and Off-loading (FPSO) topsides onto the FPSO Hull, decommissioning of rigs as well as hoisting of mega structures with a width of up to 120 metres.
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Aker Philadelphia Shipyard and OSHA Form Partnership
Aker Philadelphia Shipyard, a leading U.S. commercial shipyard, recently signed an agreement entering into a partnership with the U.S. Department of Labor’s Occupational Safety and Health Administration.
The partnership is designed to assist Aker Philadelphia Shipyard in implementing a safety program to further protect employees, improve safety statistics and become qualified to participate in OSHA’s Voluntary Protection Program (VPP). The agreement was signed November 12th during a small ceremony at the shipyard by representatives of OSHA, The Philadelphia Metal Trades Council and Aker Philadelphia Shipyard. Under the agreement, the shipyard will develop a safety and health management program with a focus on Management Leadership and Employee Involvement, Worksite Analysis, Hazard Prevention and Control, and Training. These elements, based on OSHA’s 1989 Guidelines, and other goals, including reducing or maintaining injury and illness rates, could make the yard eligible to apply for OSHA’s Voluntary Protection Program (VPP) in as few as two years. Jim Miller, President and CEO of Aker Philadelphia Shipyard, stated “Aker Philadelphia Shipyard is honored to be selected and proud to partner with OSHA. Aker Philadelphia Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships.
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The partnership is designed to assist Aker Philadelphia Shipyard in implementing a safety program to further protect employees, improve safety statistics and become qualified to participate in OSHA’s Voluntary Protection Program (VPP). The agreement was signed November 12th during a small ceremony at the shipyard by representatives of OSHA, The Philadelphia Metal Trades Council and Aker Philadelphia Shipyard. Under the agreement, the shipyard will develop a safety and health management program with a focus on Management Leadership and Employee Involvement, Worksite Analysis, Hazard Prevention and Control, and Training. These elements, based on OSHA’s 1989 Guidelines, and other goals, including reducing or maintaining injury and illness rates, could make the yard eligible to apply for OSHA’s Voluntary Protection Program (VPP) in as few as two years. Jim Miller, President and CEO of Aker Philadelphia Shipyard, stated “Aker Philadelphia Shipyard is honored to be selected and proud to partner with OSHA. Aker Philadelphia Shipyard is a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market. It possesses a state-of-the-art shipbuilding facility and has earned a reputation as the preferred provider of oceangoing merchant vessels with a track record of delivering quality ships.
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Abu Dhabi ports will levy higher tariffs next year
Abu Dhabi Terminals, which operates four commercial seaports in Abu Dhabi, plans to increase tariffs at the ports in January next year, its CEO said.
"There will be an average 10 per cent increase in storage and handling charges," Mohammad Al Mannaei told. ADT operates Mina Zayed, Musaffah, Freeport and New Dhow Harbour seaports. ADT last increased tariffs at the seaports in January, when all port charges except those for stevedoring were revised. The port dues are levied on the basis of gross registered tonnage (GRT) of the vessels. "Even after the increases, our port charges will still be the lowest in the region. This includes comparison with Jebel Ali, Fujairah and Sharjah ports in the UAE as well," Al Mannaei said. He said the global meltdown has yet to directly affect the sea transportation sector in the UAE. "This year there has been a 50 per cent increase overall in general cargo in Mina Zayed - main components of which are building materials and pipe for the oil industry - and a 30 per increase in container activity," Al Mannaei said. He said according to the Abu Dhabi Ports Company, the developer of the Khalifa seaport in Taweelah, the port is now about 50 per cent complete. Al Mannaei added that he expected the first phase of Khalifa port to be completed on schedule in 2011. The management of Khalifa port will be shared by ADT and DP World.
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"There will be an average 10 per cent increase in storage and handling charges," Mohammad Al Mannaei told. ADT operates Mina Zayed, Musaffah, Freeport and New Dhow Harbour seaports. ADT last increased tariffs at the seaports in January, when all port charges except those for stevedoring were revised. The port dues are levied on the basis of gross registered tonnage (GRT) of the vessels. "Even after the increases, our port charges will still be the lowest in the region. This includes comparison with Jebel Ali, Fujairah and Sharjah ports in the UAE as well," Al Mannaei said. He said the global meltdown has yet to directly affect the sea transportation sector in the UAE. "This year there has been a 50 per cent increase overall in general cargo in Mina Zayed - main components of which are building materials and pipe for the oil industry - and a 30 per increase in container activity," Al Mannaei said. He said according to the Abu Dhabi Ports Company, the developer of the Khalifa seaport in Taweelah, the port is now about 50 per cent complete. Al Mannaei added that he expected the first phase of Khalifa port to be completed on schedule in 2011. The management of Khalifa port will be shared by ADT and DP World.
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USS Greeneville Undocks
Portsmouth Naval Shipyard, Kittery, Maine, successfully undocked USS Greeneville (SSN 772) one week early on Nov. 14 by returning to "back-to-basics" work practices.
"Back to basics", one of the key focus areas of Naval Sea Systems Commander, Vice Adm. Kevin McCoy, is about eliminating bottlenecks and optimizing the workday to improve shipyard processes with the goal of completing quality availabilities on time and on cost. During his facility visit in October, McCoy left no doubt in the minds of the shipyard workforce about his passion to "sustain today's fleet efficiently and effectively." "It is absolutely critical that we meet this commitment," McCoy stated. "Our Navy and our nation need these submarines back at sea, and I'm convinced that the men and women of Portsmouth Naval Shipyard are up to accomplishing the task." Greeneville is presently undergoing a scheduled 15-month depot modernization period at the shipyard. Rallying around Greeneville's project team and the ship's crew, the entire workforce took the challenge and got "back to basics." "It was a great effort by the whole shipyard team," said Capt. Robert Mazzone, shipyard commander.
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"Back to basics", one of the key focus areas of Naval Sea Systems Commander, Vice Adm. Kevin McCoy, is about eliminating bottlenecks and optimizing the workday to improve shipyard processes with the goal of completing quality availabilities on time and on cost. During his facility visit in October, McCoy left no doubt in the minds of the shipyard workforce about his passion to "sustain today's fleet efficiently and effectively." "It is absolutely critical that we meet this commitment," McCoy stated. "Our Navy and our nation need these submarines back at sea, and I'm convinced that the men and women of Portsmouth Naval Shipyard are up to accomplishing the task." Greeneville is presently undergoing a scheduled 15-month depot modernization period at the shipyard. Rallying around Greeneville's project team and the ship's crew, the entire workforce took the challenge and got "back to basics." "It was a great effort by the whole shipyard team," said Capt. Robert Mazzone, shipyard commander.
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Maersk Line and CMA CGM team up again
Danish carrier Maersk Line is once again teaming up with France-based CMA CGM in a new vessel sharing agreement (VSA) beginning in May next year.
This new VSA follows almost a year of successful cooperation between the two companies in a trans-Pacific agreement. Maersk Line and CMA-CGM would provide two strings with new services for customers. The scope of the agreement includes the Far East to the US east coast and Far East to the Pacific Northwest. The first string, known as the TP3, will be a pendulum between the Far East, the Pacific Northwest and US east coast. It will serve an eastbound port rotation of Shanghai - Hong Kong – Yantian – Singapore – Newark – Norfolk with westbound calls at Singapore - Hong Kong - Yantian and Shanghai via the Suez Canal. The second segment of the pendulum service will consist of a revised TP9, which will discontinue service to the Pacific Southwest, yet continue to provide access to inland markets in North America through Seattle and Vancouver while avoiding potential congestion often faced in southern west coast ports. The revised TP9 will offer access to multiple Asian markets with calls at Singapore, Hong Kong, Yantian, Shanghai and Busan with improved access to the Pacific Northwest. These services will include 13 vessels with 6,400TEU capacity. Seven of these vessels will be operated by Maersk Line, the remaining six by CMA CGM.
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This new VSA follows almost a year of successful cooperation between the two companies in a trans-Pacific agreement. Maersk Line and CMA-CGM would provide two strings with new services for customers. The scope of the agreement includes the Far East to the US east coast and Far East to the Pacific Northwest. The first string, known as the TP3, will be a pendulum between the Far East, the Pacific Northwest and US east coast. It will serve an eastbound port rotation of Shanghai - Hong Kong – Yantian – Singapore – Newark – Norfolk with westbound calls at Singapore - Hong Kong - Yantian and Shanghai via the Suez Canal. The second segment of the pendulum service will consist of a revised TP9, which will discontinue service to the Pacific Southwest, yet continue to provide access to inland markets in North America through Seattle and Vancouver while avoiding potential congestion often faced in southern west coast ports. The revised TP9 will offer access to multiple Asian markets with calls at Singapore, Hong Kong, Yantian, Shanghai and Busan with improved access to the Pacific Northwest. These services will include 13 vessels with 6,400TEU capacity. Seven of these vessels will be operated by Maersk Line, the remaining six by CMA CGM.
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Worst yet to come for Asian dry bulk companies
Since the drop in demand for raw materials, Asian dry bulk companies have seen shipping rates come crashing down.
The Baltic Dry Index has fallen 93 percent since its peak in May, the Wall Street Journal reported. And even if there were some demand, it is increasingly difficult to secure trade finance, and investors have stopped giving shipping companies any credit for earnings or assets. Even Asia’s largest dry bulk shipping by market capitalisation, China COSCO Holdings is now trading at only 2.5 times expected 2009 earnings, which is half of the expected book value. According to the Wall Street Journal, as recently as August this year, the company was trading at five times earnings and 2.5 times book value. But it seems the worst is yet to come with further decreases in both earnings and book values anticipated when new ships, which were ordered during the shipping boom years, are delivered. DVB Bank figures as quoted by the Wall Street Journal stated that the tonnage of shipping capacity on order, due mainly in the next three years, stands at 72 percent of the existing dry bulk fleet.
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The Baltic Dry Index has fallen 93 percent since its peak in May, the Wall Street Journal reported. And even if there were some demand, it is increasingly difficult to secure trade finance, and investors have stopped giving shipping companies any credit for earnings or assets. Even Asia’s largest dry bulk shipping by market capitalisation, China COSCO Holdings is now trading at only 2.5 times expected 2009 earnings, which is half of the expected book value. According to the Wall Street Journal, as recently as August this year, the company was trading at five times earnings and 2.5 times book value. But it seems the worst is yet to come with further decreases in both earnings and book values anticipated when new ships, which were ordered during the shipping boom years, are delivered. DVB Bank figures as quoted by the Wall Street Journal stated that the tonnage of shipping capacity on order, due mainly in the next three years, stands at 72 percent of the existing dry bulk fleet.
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Shell in 20-year China LNG deal
Anglo-Dutch supermajor Shell has agreed to sell an annual 2 million tonnes of liquefied natural gas to China in a 20-year deal, the company's China unit said.
The agreement was signed between the oil giant and PetroChina International, a wholly-owned subsidiary of PetroChina, Asia's top oil and gas producer. Part of the supplies to PetroChina would be tapped from the proposed Gorgon gas project off Western Australia, said a Reuters report citing Xinhua news agency. No other details were provided. Shell has a 25% stake in the multi-billion dollar project as does ExxonMobil. US energy giant Chevron operates and holds a 50% stake in the project.
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The agreement was signed between the oil giant and PetroChina International, a wholly-owned subsidiary of PetroChina, Asia's top oil and gas producer. Part of the supplies to PetroChina would be tapped from the proposed Gorgon gas project off Western Australia, said a Reuters report citing Xinhua news agency. No other details were provided. Shell has a 25% stake in the multi-billion dollar project as does ExxonMobil. US energy giant Chevron operates and holds a 50% stake in the project.
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Piraeus port concession agreement to be signed today
Amid new protests scheduled by dockworkers, the Chinese delegation visiting Hellas since Monday, headed by Chinese President Hu Jintao, is expected to sign the concession agreement between Cosco Singapore and OLP (Piraeus Port Authority).
Hu is scheduled to sign a 3.4 billion euro deal to manage and upgrade facilities at Piraeus Port (OLP) for up to 35 years. The amount will be paid over the duration of the contract. Speaking in a press conference organized yesterday in Athens, Cosco’s s President and CEO, Capt. Wei Jafu said the concession would profit Cosco in the long term and would bolster Greece's cargo business. OLP has already said it expects the deal to boost profit by at least 60 percent over five years. "We don't expect the crisis to last for 35 years," said Wei, laughing. "In 35 years, we can make a reasonable return on this investment." Cosco will invest at least 350 million euros to upgrade the port’s facilities and raise annual handling capacity from 1.6 to 3.7 million TEU’s (twenty-foot equivalent units). But, Captain Wei Jiafu also commented on the recent downturn of the dry bulk shipping industry. He expressed his hope that demand would rebound in the first half of next year, instead of lasting for years. "The financial tsunami affects real shipping demand. Shipping is diving due to the panic of investors ... but the diver has to come up eventually," Cosco CEO said.
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Hu is scheduled to sign a 3.4 billion euro deal to manage and upgrade facilities at Piraeus Port (OLP) for up to 35 years. The amount will be paid over the duration of the contract. Speaking in a press conference organized yesterday in Athens, Cosco’s s President and CEO, Capt. Wei Jafu said the concession would profit Cosco in the long term and would bolster Greece's cargo business. OLP has already said it expects the deal to boost profit by at least 60 percent over five years. "We don't expect the crisis to last for 35 years," said Wei, laughing. "In 35 years, we can make a reasonable return on this investment." Cosco will invest at least 350 million euros to upgrade the port’s facilities and raise annual handling capacity from 1.6 to 3.7 million TEU’s (twenty-foot equivalent units). But, Captain Wei Jiafu also commented on the recent downturn of the dry bulk shipping industry. He expressed his hope that demand would rebound in the first half of next year, instead of lasting for years. "The financial tsunami affects real shipping demand. Shipping is diving due to the panic of investors ... but the diver has to come up eventually," Cosco CEO said.
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Fincanteri falters with cruise ship order delays
Italian cruise ship builder Fincantieri has admitted that several cruise ship buyers have requested for a slowdown of delivery dates.
The state shipbuilder, which cited the weak dollar and high cost of raw materials as the reasons for the order delays, said that it had also lost a major superyacht order. The Uilm metalworkers’ union said that the Muggiano, Castellamare di Stabi, Sestri Ponente and Ancona shipyards would be affected. Furthermore, Fincantieri now fears that two ships that were to be ordered by Grimaldi might not take place at all. Military orders on the other hand continue to thrive. Fincantieri recently received a number of military orders and will takeover the US military shipbuilder Manitowoc by the end of this year.
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The state shipbuilder, which cited the weak dollar and high cost of raw materials as the reasons for the order delays, said that it had also lost a major superyacht order. The Uilm metalworkers’ union said that the Muggiano, Castellamare di Stabi, Sestri Ponente and Ancona shipyards would be affected. Furthermore, Fincantieri now fears that two ships that were to be ordered by Grimaldi might not take place at all. Military orders on the other hand continue to thrive. Fincantieri recently received a number of military orders and will takeover the US military shipbuilder Manitowoc by the end of this year.
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Debt laden C& Heavy likely to start workout program
Seoul: C& Heavy Industries, a flagship unit of the cash-strapped C& Group, is expected to ask Woori Bank and other creditors to place it under a workout program this week in a bid to stay afloat amid the deepening credit squeeze and a global economic downturn, the Korea Times reported.
If creditors accept its request, the shipbuilder will undergo drastic restructuring in return for the extension of loan maturities and an injection of fresh capital. The main creditor, Woori Bank, recently demanded that C& Heavy Industries submit a self-rescue plan, after the company had failed to pay back maturing loans for the past two months. ‘We received the self-restructuring scheme from the shipbuilder. We are currently studying the feasibility of the plan. If the company files for a workout program, we will hold a meeting with other creditors and decide what to do,' a Woori Bank official said. Industry experts expect C& Heavy Industries to apply for the restructuring program Wednesday, when C& Group holds a bidding for its ailing construction arm, Woobang Engineering, in an attempt to sell the builder at a higher price. If 75 percent of creditors approve the plan, the shipbuilder will have its debts rescheduled or receive new loans. But in return, the company will be required to sell assets and take a range of self-rescue measures, along with a management reshuffle. It is estimated that commercial banks and savings banks have extended a total of 1.3 trillion won to 41 subsidiaries of C& Group.
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If creditors accept its request, the shipbuilder will undergo drastic restructuring in return for the extension of loan maturities and an injection of fresh capital. The main creditor, Woori Bank, recently demanded that C& Heavy Industries submit a self-rescue plan, after the company had failed to pay back maturing loans for the past two months. ‘We received the self-restructuring scheme from the shipbuilder. We are currently studying the feasibility of the plan. If the company files for a workout program, we will hold a meeting with other creditors and decide what to do,' a Woori Bank official said. Industry experts expect C& Heavy Industries to apply for the restructuring program Wednesday, when C& Group holds a bidding for its ailing construction arm, Woobang Engineering, in an attempt to sell the builder at a higher price. If 75 percent of creditors approve the plan, the shipbuilder will have its debts rescheduled or receive new loans. But in return, the company will be required to sell assets and take a range of self-rescue measures, along with a management reshuffle. It is estimated that commercial banks and savings banks have extended a total of 1.3 trillion won to 41 subsidiaries of C& Group.
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Monday, November 24, 2008
Petrobras makes significant light oil find off Brazil
Rio De Janeiro: Petrobras has completed drilling two new wells in the pre-salt layer off the coast of EspÃrito Santo and proved a discovery of light oil (30 degrees API) in the area known as Parque das Baleias.
The recoverable volume of the discoveries, made in pre-salt reservoirs located underneath the Baleia Franca, Baleia Azul and Jubarte heavy oil fields, is estimated between 1.5 billion BOE and 2 billion BOE. The 6-BFR-1-ESS and 6-BAZ-1DB-ESS wells were drilled about 80 kilometers (50 miles) off the coast and five kilometers and six kilometers (3.1 miles and 3.7 miles) to the north and to the south, respectively, of discovery well 1-ESS-103A. The discovery well, located in the pre-salt section under the Jubarte heavy oil field, has been producing at a high flow since last September. In the two latest wells, the reservoirs were discovered under a layer of up to 700 meters of salt and at depths ranging from 1,348 to 1,426 meters (4,448 ft to 4,706 ft) from the water line. The reservoirs are located 4,200 meters to 4,800 meters (13,860 ft to 15,840 ft) below sea level and have oil-bearing porous thicknesses of 190 meters and 300 meters (627 ft and 990 ft), proving the major potential of the discoveries. So far, six wells have been drilled in the EspÃrito Santo pre-salt layer, all of which have been successful.
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The recoverable volume of the discoveries, made in pre-salt reservoirs located underneath the Baleia Franca, Baleia Azul and Jubarte heavy oil fields, is estimated between 1.5 billion BOE and 2 billion BOE. The 6-BFR-1-ESS and 6-BAZ-1DB-ESS wells were drilled about 80 kilometers (50 miles) off the coast and five kilometers and six kilometers (3.1 miles and 3.7 miles) to the north and to the south, respectively, of discovery well 1-ESS-103A. The discovery well, located in the pre-salt section under the Jubarte heavy oil field, has been producing at a high flow since last September. In the two latest wells, the reservoirs were discovered under a layer of up to 700 meters of salt and at depths ranging from 1,348 to 1,426 meters (4,448 ft to 4,706 ft) from the water line. The reservoirs are located 4,200 meters to 4,800 meters (13,860 ft to 15,840 ft) below sea level and have oil-bearing porous thicknesses of 190 meters and 300 meters (627 ft and 990 ft), proving the major potential of the discoveries. So far, six wells have been drilled in the EspÃrito Santo pre-salt layer, all of which have been successful.
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Pirates move Saudi VLCC to unknown destination
The hijacked Saudi supertanker Sirius Star has been moved from the port of Haradheere to an unknown destination, an official of the Transitional Federal Government (TFG) of Somalia said, citing information from tribal leaders and mediators negotiating with the pirates.
However, the claim could not be verified from port authorities at Haradheere where the Sirius Star was sighted after it was hijacked last weekend. Yousif Adso, Secretary of the TFG Ministry of Foreign Affairs, said that the rival administration of the Islamic Courts movement had been negotiating with the pirates to free the vessel, and that the pirates themselves showed signs of disagreement over the size of the ransom and methods of payment. The hijackers have reportedly asked for a $25 million ransom. Ados said that the situation had been complicated by demands from the hijackers of 12 other vessels seeking joint negotiations. The TFG, led by President Abdullah Yousif and Prime Minister Nour Hasan Hussien, is in contact with the head of Puntland, Atallah Mousa, as well as tribal leaders and mediators to release the Sirius Star. Adso said they had urged Mousa to put an end the crisis which he expected to be over shortly. Adso said that although a ransom could be paid to free the Sirius Star, it would encourage piracy in the future.
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However, the claim could not be verified from port authorities at Haradheere where the Sirius Star was sighted after it was hijacked last weekend. Yousif Adso, Secretary of the TFG Ministry of Foreign Affairs, said that the rival administration of the Islamic Courts movement had been negotiating with the pirates to free the vessel, and that the pirates themselves showed signs of disagreement over the size of the ransom and methods of payment. The hijackers have reportedly asked for a $25 million ransom. Ados said that the situation had been complicated by demands from the hijackers of 12 other vessels seeking joint negotiations. The TFG, led by President Abdullah Yousif and Prime Minister Nour Hasan Hussien, is in contact with the head of Puntland, Atallah Mousa, as well as tribal leaders and mediators to release the Sirius Star. Adso said they had urged Mousa to put an end the crisis which he expected to be over shortly. Adso said that although a ransom could be paid to free the Sirius Star, it would encourage piracy in the future.
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Cochin Shipyard building 20 offshore vessels
The public sector Cochin Shipyard Ltd is in the process of constructing 20 offshore vessels, valued at Rs 3,000 crore, for European and American clients.
The projects being undertaken excludes the indigenous aircraft carrier for the Indian Navy, which is also under construction, Commodore M. Jitendran, Chairman and Managing Director, CSL,said. He was speaking on the occasion of the naming ceremony of two platform supply vessels for the Greek company Hellespont Steamship Corporation. He said that the yard was able to achieve the highest ever turnover of Rs 967 crore during the year 2007-08. The profit after tax was also the highest ever in the year at Rs 93.85 crore. The two platform supply vessels were named as Hellespont Dawn and Hellespont Daring. The vessels are of the popular UT-755-LN design for the offshore industry. The vessel is designed for satisfying the specific demands of transport of deck cargo, pipes, liquid cargo, cement, barite and so on and unloading to rigs and production platforms, pipe laying barges etc. They are the workhorse of the offshore oil field industry, which acts as a lifeline carrying all operational supplies and stores to far-off offshore installations.
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The projects being undertaken excludes the indigenous aircraft carrier for the Indian Navy, which is also under construction, Commodore M. Jitendran, Chairman and Managing Director, CSL,said. He was speaking on the occasion of the naming ceremony of two platform supply vessels for the Greek company Hellespont Steamship Corporation. He said that the yard was able to achieve the highest ever turnover of Rs 967 crore during the year 2007-08. The profit after tax was also the highest ever in the year at Rs 93.85 crore. The two platform supply vessels were named as Hellespont Dawn and Hellespont Daring. The vessels are of the popular UT-755-LN design for the offshore industry. The vessel is designed for satisfying the specific demands of transport of deck cargo, pipes, liquid cargo, cement, barite and so on and unloading to rigs and production platforms, pipe laying barges etc. They are the workhorse of the offshore oil field industry, which acts as a lifeline carrying all operational supplies and stores to far-off offshore installations.
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New Vessel Sharing Agreement with CMA-CGM in the trans-Pacific
Danish carrier Maersk Line announced the establishment of a new Vessel Sharing Agreement with French-based CMA-CGM utilizing both the Panama and Suez Canals commencing in May 2009.
Further adjustments to the Maersk Line network will provide customers with significant benefits. This new VSA follows almost a year of successful cooperation between the two companies in a trans-Pacific agreement, and represents further rightsizing of capacity in the trans-Pacific trade. Demonstrating a new perspective on service to North America, Maersk Line and CMA-CGM provide two strings with new services for customers. The scope of the agreement includes the Far East to the US east coast and Far East to the Pacific Northwest. “Our customers have been looking for products offering alternative gateways from Asia directly to the east coast via all water routing – and this new vessel sharing agreement represents this option, as well as a new direction for our companies. Our partnership has been tested in the trans-Pacific and we are pleased with the new and dynamic product offering for our customers,” commented Bill Woodhour, Sales manager for North America for Maersk Line.
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Further adjustments to the Maersk Line network will provide customers with significant benefits. This new VSA follows almost a year of successful cooperation between the two companies in a trans-Pacific agreement, and represents further rightsizing of capacity in the trans-Pacific trade. Demonstrating a new perspective on service to North America, Maersk Line and CMA-CGM provide two strings with new services for customers. The scope of the agreement includes the Far East to the US east coast and Far East to the Pacific Northwest. “Our customers have been looking for products offering alternative gateways from Asia directly to the east coast via all water routing – and this new vessel sharing agreement represents this option, as well as a new direction for our companies. Our partnership has been tested in the trans-Pacific and we are pleased with the new and dynamic product offering for our customers,” commented Bill Woodhour, Sales manager for North America for Maersk Line.
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Vessels to boycott pirate-infested Gulf of Aden
Vessels are increasingly avoiding the Gulf of Aden out of concern for the safety of seafarers and to ensure the safe delivery of cargo.
Danish shipping giant AP Moller said that the changes would mostly affect their tanker routes, however, three container vessels would also be affected, but that they would limit the impact for redeployment. “In general and for vessels entering the Gulf of Aden, we have safety and security procedures in place,” said an AP Moller Maersk-issued statement. The vessels will instead sail via the Cape of Good Hope and East of Madagascar. Meanwhile, INTERTANKO has voiced its support for all tanker operators who have declared their intention to boycott the area off Somalia’s coast and the Gulf of Aden. “Our concern remains for the safety of seafarers and for the lack of effective naval protection,” said a statement issued by NTERTANKO.
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Danish shipping giant AP Moller said that the changes would mostly affect their tanker routes, however, three container vessels would also be affected, but that they would limit the impact for redeployment. “In general and for vessels entering the Gulf of Aden, we have safety and security procedures in place,” said an AP Moller Maersk-issued statement. The vessels will instead sail via the Cape of Good Hope and East of Madagascar. Meanwhile, INTERTANKO has voiced its support for all tanker operators who have declared their intention to boycott the area off Somalia’s coast and the Gulf of Aden. “Our concern remains for the safety of seafarers and for the lack of effective naval protection,” said a statement issued by NTERTANKO.
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Iranian navy to launch two ships and a submarine this week
The Commander of the Iranian Navy has said that two new ships and a submarine would be launched later this week.
Cmdr Habibolallh Sayyari told that all three vessels were made in Iran. “On the occasion of Navy Day [November 27], two missile-carrying ships named ‘Kalat’ and ‘Derafsh’, as well as a light submarine will be launched. Iranian and US vessels sometimes come into close contact along the Strait of Hormuz, creating tension between Tehran and Washington, and Cmdr Sayyari said that Iran would close the Strait if the country were threatened. The Strait of Hormuz is an important passage way for the transport of oil from the Middle East to the world, and the US has said that would not let Iran close the waterway. Between 20 and 40 percent of the world's oil is shipped via the Strait of Hormuz each year.
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Cmdr Habibolallh Sayyari told that all three vessels were made in Iran. “On the occasion of Navy Day [November 27], two missile-carrying ships named ‘Kalat’ and ‘Derafsh’, as well as a light submarine will be launched. Iranian and US vessels sometimes come into close contact along the Strait of Hormuz, creating tension between Tehran and Washington, and Cmdr Sayyari said that Iran would close the Strait if the country were threatened. The Strait of Hormuz is an important passage way for the transport of oil from the Middle East to the world, and the US has said that would not let Iran close the waterway. Between 20 and 40 percent of the world's oil is shipped via the Strait of Hormuz each year.
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Sunday, November 23, 2008
Further Asia/Europe service cutbacks for CKYH
Tokyo: CKYH Alliance members, Coscon, “K”LINE, Yang Ming and Hanjin Shipping, have announced further “rationalizations” to their Asia/Europe services from early December 2008 to end of March 2009.
The cutbacks will reduce weekly CKYH capacity to North Europe by around 16,000teu or 30% of the existing capacity during this period. On the heels of its recent suspension of its CNX service, the alliance is to combine its AES and AEN services from end of November by offering a combined service called CNEU. The new service will deploy eight vessels of 8204-9469teu with direct port calls at Dalian, Xingang, Qingdao, Shanghai, Ningbo, Hong Kong, Yantian, Nansha, Singapore, Rotterdam, Felixstowe, Hamburg, Antwerp, Singapore, Hong Kong and Shanghai. Additionally, a number of sailings in both the AES2 and AES3 services will be suspended from mid December 2008, in order to cope with the slack season. However the CKYH Alliance will modify the service network of its AES1, AES2 and AES3 services, to meet the needs of its customers by maintaining the existing port coverage and service.
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The cutbacks will reduce weekly CKYH capacity to North Europe by around 16,000teu or 30% of the existing capacity during this period. On the heels of its recent suspension of its CNX service, the alliance is to combine its AES and AEN services from end of November by offering a combined service called CNEU. The new service will deploy eight vessels of 8204-9469teu with direct port calls at Dalian, Xingang, Qingdao, Shanghai, Ningbo, Hong Kong, Yantian, Nansha, Singapore, Rotterdam, Felixstowe, Hamburg, Antwerp, Singapore, Hong Kong and Shanghai. Additionally, a number of sailings in both the AES2 and AES3 services will be suspended from mid December 2008, in order to cope with the slack season. However the CKYH Alliance will modify the service network of its AES1, AES2 and AES3 services, to meet the needs of its customers by maintaining the existing port coverage and service.
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Gateway Terminals handles 1 m TEUs
Gateway Terminals India (GTI) completed handling one million TEUs during the period from April till date.
Mr. Arvind Bhatnagar, CEO of GTI, said the target for 2008 (calendar year) set at 1.45 million TEUs, would be achieved. In 2007, the throughput was 1.17 million TEUs. Slowdown impact. Till October, as Mr. Bhatnagar said, the impact of the economic slowdown was not felt. “The impact is being felt only now, in November,” he said, pointing out that the drop in throughput so far in the current month had been around seven per cent. He was not sure of achieving the target for next year (2009) set at 1.8 million TEUs. “The impact might be more next year but we’re not sure; it is too early,” he observed. Meanwhile, GTI posted national record in operational productivity by doing 2,706 moves, comprising 1,461 discharges and 1,245 loading of the vessel MV Maersk Damietta. Mr. Bhatnagar informed that two high capacity quay cranes (RMQCs) from China would start arriving from December and start operation from the first quarter of next fiscal. Meanwhile, yard cranes, popularly known as RTGs (manufactured by Finnish company Kalmar in China), have started arriving.
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Mr. Arvind Bhatnagar, CEO of GTI, said the target for 2008 (calendar year) set at 1.45 million TEUs, would be achieved. In 2007, the throughput was 1.17 million TEUs. Slowdown impact. Till October, as Mr. Bhatnagar said, the impact of the economic slowdown was not felt. “The impact is being felt only now, in November,” he said, pointing out that the drop in throughput so far in the current month had been around seven per cent. He was not sure of achieving the target for next year (2009) set at 1.8 million TEUs. “The impact might be more next year but we’re not sure; it is too early,” he observed. Meanwhile, GTI posted national record in operational productivity by doing 2,706 moves, comprising 1,461 discharges and 1,245 loading of the vessel MV Maersk Damietta. Mr. Bhatnagar informed that two high capacity quay cranes (RMQCs) from China would start arriving from December and start operation from the first quarter of next fiscal. Meanwhile, yard cranes, popularly known as RTGs (manufactured by Finnish company Kalmar in China), have started arriving.
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MOL to develop box depot in Thailand despite low growth
Japanese shipping group MOL plans to invest in its first container depot to be built in Laem Chabang, Chon Buri, Thailand.
The Thai depot is slated for completion in April 2009. It will cover an area measuring 75,800 square metres and will be located about ten kilometers from the deep sea Port of Laem Chabang. This development comes despite the president of MOL (Thailand) Takao Furukawa saying that the business outlook next year was still unclear, although the company expected some growth, on expectations that Thailand's export and import trade would remain steady. "Many Japanese automakers are expanding in Thailand's manufacturing centres. That could bring growth of import-export activities," Mr. Furukawa stated. As a result MOL has revised downwards its growth forecast for the Thai unit to three percent this year, from ten percent earlier, owing to the slowdown in the global economy weakening demand for Thailand's exports. Mr. Furukawa said Thai volumes grew by 16 percent in 2007 and ten percent in 2006. The carrier controls about six percent of the import-export volume between Thailand and Japan that amounts to 4.9 million TEU annually. MOL Thailand anticipates it will handle 320,000TEU in Thailand this year, up from 300,000TEU last year.
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The Thai depot is slated for completion in April 2009. It will cover an area measuring 75,800 square metres and will be located about ten kilometers from the deep sea Port of Laem Chabang. This development comes despite the president of MOL (Thailand) Takao Furukawa saying that the business outlook next year was still unclear, although the company expected some growth, on expectations that Thailand's export and import trade would remain steady. "Many Japanese automakers are expanding in Thailand's manufacturing centres. That could bring growth of import-export activities," Mr. Furukawa stated. As a result MOL has revised downwards its growth forecast for the Thai unit to three percent this year, from ten percent earlier, owing to the slowdown in the global economy weakening demand for Thailand's exports. Mr. Furukawa said Thai volumes grew by 16 percent in 2007 and ten percent in 2006. The carrier controls about six percent of the import-export volume between Thailand and Japan that amounts to 4.9 million TEU annually. MOL Thailand anticipates it will handle 320,000TEU in Thailand this year, up from 300,000TEU last year.
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NOAA to modernize fleet
USA: The National Oceanic and Atmospheric Association will modernize its marine operations by replacing nine research ships and refurbishing a tenth in the next 15 years.
“Sea-going vessels are a key source of observational data used by NOAA scientists. A modern, more capable fleet will ensure we can meet the ever changing demands of the science community,” said retired Navy Vice Admiral Conrad C. Lautenbacher, Jr., Ph.D., under secretary of commerce for oceans and atmosphere and NOAA administrator. “When I arrived at NOAA in 2001, the average age of our fleet was 32 years. Today, it is 27, and at the end of this ambitious program the age will drop to 17.” NOAA’s Office of Marine and Aviation Operations conducted an assessment of the 19 ships in the fleet, and determined that ten of those vessels will reach the end of their useful service life over the next 15 years. The fleet replacement plan is a comprehensive program to systematically replace or upgrade the fleet. The fleet supports a wide range of marine activities, including fisheries and coastal research, nautical charting, and long-range ocean and climate studies. NOAA's ships are specially equipped and designed to support the agency's programs, and have some capabilities not found in the commercial fleet. Nine vessels have entered into service since 2001, including ‘Okeanos Explorer’, the first NOAA vessel solely dedicated to ocean exploration.
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“Sea-going vessels are a key source of observational data used by NOAA scientists. A modern, more capable fleet will ensure we can meet the ever changing demands of the science community,” said retired Navy Vice Admiral Conrad C. Lautenbacher, Jr., Ph.D., under secretary of commerce for oceans and atmosphere and NOAA administrator. “When I arrived at NOAA in 2001, the average age of our fleet was 32 years. Today, it is 27, and at the end of this ambitious program the age will drop to 17.” NOAA’s Office of Marine and Aviation Operations conducted an assessment of the 19 ships in the fleet, and determined that ten of those vessels will reach the end of their useful service life over the next 15 years. The fleet replacement plan is a comprehensive program to systematically replace or upgrade the fleet. The fleet supports a wide range of marine activities, including fisheries and coastal research, nautical charting, and long-range ocean and climate studies. NOAA's ships are specially equipped and designed to support the agency's programs, and have some capabilities not found in the commercial fleet. Nine vessels have entered into service since 2001, including ‘Okeanos Explorer’, the first NOAA vessel solely dedicated to ocean exploration.
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Saturday, November 22, 2008
DP World Southampton sets a new record
The arrival of the CMA CGM Vela set a new terminal record for the largest declared containership to call at DP World Southampton.
The 11,040 TEU capacity boxship, with a gross tonnage of 1,29,000 tons and a length of 347m, carries 14% more capacity than the terminal’s previous record holder, the CMA CGM Orfeo, which called at the terminal in August of this year. DP World Southampton is the UK's second largest container terminal, handling some 1.9m TEU last year, a 26% increase on the 2006 figure. Talking about the new record, DP World Southampton managing director Campbell Mason said, 'We are delighted to welcome yet another record breaker to the terminal. The fact that we were celebrating a record size vessel only a few months ago highlights the increasing trend within the industry toward ever larger, cost effective ships. With the terminal’s first two super post-panamax cranes now in full operation and an additional two super post-panamax cranes scheduled to arrive next summer, we are well positioned to meet that industry trend.'
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The 11,040 TEU capacity boxship, with a gross tonnage of 1,29,000 tons and a length of 347m, carries 14% more capacity than the terminal’s previous record holder, the CMA CGM Orfeo, which called at the terminal in August of this year. DP World Southampton is the UK's second largest container terminal, handling some 1.9m TEU last year, a 26% increase on the 2006 figure. Talking about the new record, DP World Southampton managing director Campbell Mason said, 'We are delighted to welcome yet another record breaker to the terminal. The fact that we were celebrating a record size vessel only a few months ago highlights the increasing trend within the industry toward ever larger, cost effective ships. With the terminal’s first two super post-panamax cranes now in full operation and an additional two super post-panamax cranes scheduled to arrive next summer, we are well positioned to meet that industry trend.'
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India may deploy more warships to fight pirates
The Indian navy may beef up its security presence significantly in the Gulf of Aden to counter the threat of rampant piracy to shipping companies.
Somali pirates have caused havoc in one of the world's busiest shipping lanes this year, hijacking dozens of ships including a Saudi Arabian supertanker loaded with $100 million worth of oil, the biggest hijacking in history. The Indian navy plans to "significantly augment" its presence off the Horn of Africa, and a proposal by the Ministry of Shipping to deploy up to four warships is under "active consideration". India deployed the Tabar, a naval warship, in October to escort Indian ships after the country's shipping firms said they were losing hundreds of thousands of dollars a month on cost overruns and delays in meeting deadlines. India also renewed its call for greater cooperation between foreign navies to tackle the piracy threat. Piracy off Somalia is forcing shipping companies to avoid the Suez Canal and send cargoes of oil and other goods on a longer and more expensive journey around southern Africa. Pirate attacks in Somali waters this year have driven up insurance costs for shipping firms and the decision to divert cargo risks pushing up prices for manufactured goods and commodities.
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Somali pirates have caused havoc in one of the world's busiest shipping lanes this year, hijacking dozens of ships including a Saudi Arabian supertanker loaded with $100 million worth of oil, the biggest hijacking in history. The Indian navy plans to "significantly augment" its presence off the Horn of Africa, and a proposal by the Ministry of Shipping to deploy up to four warships is under "active consideration". India deployed the Tabar, a naval warship, in October to escort Indian ships after the country's shipping firms said they were losing hundreds of thousands of dollars a month on cost overruns and delays in meeting deadlines. India also renewed its call for greater cooperation between foreign navies to tackle the piracy threat. Piracy off Somalia is forcing shipping companies to avoid the Suez Canal and send cargoes of oil and other goods on a longer and more expensive journey around southern Africa. Pirate attacks in Somali waters this year have driven up insurance costs for shipping firms and the decision to divert cargo risks pushing up prices for manufactured goods and commodities.
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Petrobras in new 2bn barrel pre-salt find
State-run Brazilian operator Petrobras has informed the National Petroleum Agency that it has made a huge 1.5 billion to 2 billion barrel of oil pre-salt discovery off the coast of Espirito Santo.
Petrobras completed the drilling of two new wells in pre-salt reservoirs under the Baleia Franca, Baleia Azul, and Jubarte heavy oil fields, where the light oil find was made. The 6-BFR-1-ESS and 6-BAZ-1DB-ESS wells were drilled nearly 80 kilometers off the coast and lie close to Jubarte discovery well 1-ESS-103A. The reservoirs in the wells lie under a layer of up to 700 meters of salt and are located 4200 meters to 4800 metres below sea level. So far, six wells have been drilled in the EspÃrito Santo pre-salt layer, all of which have proven successful. With the new discoveries, the total estimated volume of oil in the Parque das Baleias area, including the reservoirs located above and below the salt layer, add up to around 3.5 billion barrels of oil equivalent.
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Petrobras completed the drilling of two new wells in pre-salt reservoirs under the Baleia Franca, Baleia Azul, and Jubarte heavy oil fields, where the light oil find was made. The 6-BFR-1-ESS and 6-BAZ-1DB-ESS wells were drilled nearly 80 kilometers off the coast and lie close to Jubarte discovery well 1-ESS-103A. The reservoirs in the wells lie under a layer of up to 700 meters of salt and are located 4200 meters to 4800 metres below sea level. So far, six wells have been drilled in the EspÃrito Santo pre-salt layer, all of which have proven successful. With the new discoveries, the total estimated volume of oil in the Parque das Baleias area, including the reservoirs located above and below the salt layer, add up to around 3.5 billion barrels of oil equivalent.
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Strategic Marine - Floating Dry Dock
Strategic Marine has successfully launched the base of the floating dry dock it has on order from the Australian Marine Complex (AMC) on schedule from its Vietnamese shipyard.
The dock’s 4,400 tonne base was launched flawlessly from the company’s facility at Dong Xuyen Industrial Zone at Ba-Riang Vung Tau. The 99m long and 53m wide base was then lifted aboard a Dockside submersible vessel “The Teal” for its eight-day journey to the AMC at Henderson in Western Australia. The method employed for the launch used dozens of long sausage-shaped fenders which were inflated to their full diameter of 1.5m to lift the base of the dock off the 1m pedestal it was resting on. The dock, which was tethered firmly to prevent it, moving, was then rolled slowly down a ramp into the ocean. Five tugs were on hand to tow the dock base out to “The Teal” which was moored about six miles away through a narrow outlet. The submersible is expected to drop anchor off the Western Australian coastline before it gradually submerges, allowing the base pontoon to float off before being towed into position at the Common User Facility (CUP) at Henderson.
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The dock’s 4,400 tonne base was launched flawlessly from the company’s facility at Dong Xuyen Industrial Zone at Ba-Riang Vung Tau. The 99m long and 53m wide base was then lifted aboard a Dockside submersible vessel “The Teal” for its eight-day journey to the AMC at Henderson in Western Australia. The method employed for the launch used dozens of long sausage-shaped fenders which were inflated to their full diameter of 1.5m to lift the base of the dock off the 1m pedestal it was resting on. The dock, which was tethered firmly to prevent it, moving, was then rolled slowly down a ramp into the ocean. Five tugs were on hand to tow the dock base out to “The Teal” which was moored about six miles away through a narrow outlet. The submersible is expected to drop anchor off the Western Australian coastline before it gradually submerges, allowing the base pontoon to float off before being towed into position at the Common User Facility (CUP) at Henderson.
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New maritime academy to open in 2009
Hong Kong based Orient Overseas Container Line (OOCL) has signed a cooperation agreement with Zhejiang International Maritime Professional Technology College in China to build an OOCL Maritime Academy.
The academy is expected to assist in the professional development and continuing re-education for OOCL. The cooperation agreement was signed on October 30 during the ZIMC annual Education Consultative Conference held in Hangzhou, China. Managing Director of OOCL (China) Erxin Yao and General Manager of OOCL’s Fleet Management Department, SC Tai, both signed the agreement with ZIMC President, Jack Wang. OOCL will provide the Academy with bridge simulators, an engine room simulator and crew seminar rooms; while ZIMC will provide equipment including a tugboat simulator, a dynamic position system, bridge and engine room simulators and computer based training rooms. The objectives of the cooperation are to promote the important role of China in the global maritime industry, to promote the role of safety, security and environmental protection in global maritime shipping and to encourage Chinese students to join the maritime industry as a career path. The target date for the inauguration of the Academy has been scheduled towards the end of 2009.
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The academy is expected to assist in the professional development and continuing re-education for OOCL. The cooperation agreement was signed on October 30 during the ZIMC annual Education Consultative Conference held in Hangzhou, China. Managing Director of OOCL (China) Erxin Yao and General Manager of OOCL’s Fleet Management Department, SC Tai, both signed the agreement with ZIMC President, Jack Wang. OOCL will provide the Academy with bridge simulators, an engine room simulator and crew seminar rooms; while ZIMC will provide equipment including a tugboat simulator, a dynamic position system, bridge and engine room simulators and computer based training rooms. The objectives of the cooperation are to promote the important role of China in the global maritime industry, to promote the role of safety, security and environmental protection in global maritime shipping and to encourage Chinese students to join the maritime industry as a career path. The target date for the inauguration of the Academy has been scheduled towards the end of 2009.
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Friday, November 21, 2008
Guangzhou Panyu Lingshan Shipyard completes sea trials of 'Putrajaya Singosari'
China: Guangzhou Panyu Lingshan Shipyard has just completed sea trials on the 40-metre ‘Putrajaya Singosari’.
With an 11.8-metre beam and 4.6-metre moulded depth, the offshore utility support vessel was built to a design by Khiam Chuan Marine of Singapore. Classed by BV and meeting IMO / SOLAS for life saving and firefighting the vessel will be registered in Kota Kinabalu in Sabah Malaysia. Main propulsion comes from a pair of 895kW Cummins KTA38 M2 main engines turning nozzled propellers through Reintjes WAF460 gears. This power gives the vessel a twelve-knot speed and a 28-tonne bollard pull. Steering is an electric over hydraulic. A 200kW three-speed bow thruster provides additional maneuverability. A pair of water and foam monitors provides external fire fighting capabilities while the deck house is fitted with water curtain nozzles. A pair of boomless dispersant spray nozzles is mounted in the bow. The vessel is also fitted with two 215kW generator sets. On the main deck a there is a single drum 20-tonne towing winch. A live roller is fitted into the vessel's transom.
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With an 11.8-metre beam and 4.6-metre moulded depth, the offshore utility support vessel was built to a design by Khiam Chuan Marine of Singapore. Classed by BV and meeting IMO / SOLAS for life saving and firefighting the vessel will be registered in Kota Kinabalu in Sabah Malaysia. Main propulsion comes from a pair of 895kW Cummins KTA38 M2 main engines turning nozzled propellers through Reintjes WAF460 gears. This power gives the vessel a twelve-knot speed and a 28-tonne bollard pull. Steering is an electric over hydraulic. A 200kW three-speed bow thruster provides additional maneuverability. A pair of water and foam monitors provides external fire fighting capabilities while the deck house is fitted with water curtain nozzles. A pair of boomless dispersant spray nozzles is mounted in the bow. The vessel is also fitted with two 215kW generator sets. On the main deck a there is a single drum 20-tonne towing winch. A live roller is fitted into the vessel's transom.
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Australian company terminates ship supply contract
Australia’s Nexus Energy has terminated an agreement for the supply of a floating production and storage ship.
The company signed the agreement in 2007 with Vanguard Oil and Gas International and Viking Shipping to supply the vessel for the Cruz liquids project in Western Australia. The Crux project is a joint venture between Nexus and Osaka Gas containing some 75.2 million barrels of light oil reserves. Crux is expected to produce over 34,000 barrels of light oil per day. According to The Australian, the company has said that the agreement was terminated as Crux was not able to proceed to the final investment decision with the vessel providers. Nexus said it would negotiate an alternative offer from another provider.
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The company signed the agreement in 2007 with Vanguard Oil and Gas International and Viking Shipping to supply the vessel for the Cruz liquids project in Western Australia. The Crux project is a joint venture between Nexus and Osaka Gas containing some 75.2 million barrels of light oil reserves. Crux is expected to produce over 34,000 barrels of light oil per day. According to The Australian, the company has said that the agreement was terminated as Crux was not able to proceed to the final investment decision with the vessel providers. Nexus said it would negotiate an alternative offer from another provider.
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Pirates demand $25m for Sirius Star
Somali pirates, who hijacked the Vela VLCC Sirius Star have demanded $25 million in ransom and set a 10-day deadline amid mounting calls for tougher action on sea bandits.
"We are demanding $25 million (20 million euros) from the Saudi owners of the tanker. We do not want long-term discussions to resolve the matter," a pirate who identified himself as Mohamed Said told from the ship, anchored at the Somali pirate lair of Harardhere. "The Saudis have 10 days to comply, otherwise we will take action that could be disastrous," Said added, without elaborating. Eight vessels have been seized in the last two weeks alone -- including a massive Saudi supertanker loaded with $100 million worth of crude oil. Several hundred crews are now in the hands of Somali pirates.
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"We are demanding $25 million (20 million euros) from the Saudi owners of the tanker. We do not want long-term discussions to resolve the matter," a pirate who identified himself as Mohamed Said told from the ship, anchored at the Somali pirate lair of Harardhere. "The Saudis have 10 days to comply, otherwise we will take action that could be disastrous," Said added, without elaborating. Eight vessels have been seized in the last two weeks alone -- including a massive Saudi supertanker loaded with $100 million worth of crude oil. Several hundred crews are now in the hands of Somali pirates.
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Panamanian Dredging Kickoff
Manning the controls of a large cutter suction dredge, Panamanian President MartÃn Torrijos kicked off the Pacific sea entrance dredging work for the waterway’s expansion.
He was accompanied by First Vice-President and Minister of Foreign Affairs Samuel Lewis Navarro, Panama Canal Authority (ACP) Board Chair and Minister of Canal Affairs Dani Kuzniecky and ACP Administrator/CEO Alberto Alemán Zubieta. In April 2008, the ACP awarded Belgium-based Dredging International the $177.5 million contract to dredge the Pacific sea entrance, an essential component of the Canal’s Expansion Program that will provide enough draft and width for longer, wider ships to enter the new locks. President Torrijos was on hand to initiate the work of Dredging International’s cutter suction dredge, The Vlaanderen XIX. It will be used to remove approximately 1.5 million cubic meters of soft material on the northern most areas of the Pacific sea entrance. A stationary dredger which makes use of a cutter head to loosen the material to be dredged, The Vlaanderen XIX pumps the dredged material via a pipeline ashore to a designated site. When the Pacific sea entrance dredging contract concludes, the dredging project will have widened the navigation channel to a minimum of 738 feet (225 m) and deepened it to a minimum of 51 feet (15.5 m) below Mean Low Water Springs (MLWS).
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He was accompanied by First Vice-President and Minister of Foreign Affairs Samuel Lewis Navarro, Panama Canal Authority (ACP) Board Chair and Minister of Canal Affairs Dani Kuzniecky and ACP Administrator/CEO Alberto Alemán Zubieta. In April 2008, the ACP awarded Belgium-based Dredging International the $177.5 million contract to dredge the Pacific sea entrance, an essential component of the Canal’s Expansion Program that will provide enough draft and width for longer, wider ships to enter the new locks. President Torrijos was on hand to initiate the work of Dredging International’s cutter suction dredge, The Vlaanderen XIX. It will be used to remove approximately 1.5 million cubic meters of soft material on the northern most areas of the Pacific sea entrance. A stationary dredger which makes use of a cutter head to loosen the material to be dredged, The Vlaanderen XIX pumps the dredged material via a pipeline ashore to a designated site. When the Pacific sea entrance dredging contract concludes, the dredging project will have widened the navigation channel to a minimum of 738 feet (225 m) and deepened it to a minimum of 51 feet (15.5 m) below Mean Low Water Springs (MLWS).
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Iran says hijacked ship and crew safe
Iran made contact with a hijacked Hong Kong-registered cargo ship it had chartered and said all 25 crew members were safe and sound.
"Around Thursday noon the first contact was made with the 'Delight' after its hijacking and fortunately all its crew is safe and sound," the urgent reaction committee of the Islamic Republic of Iran Shipping Lines said. "The urgent reaction committee along with concerned officials will make efforts to release the ship and its 25 crew members," a statement added, without providing further details. The Delight was carrying 36,000 tonnes of wheat when it was attacked on Tuesday in the Gulf of Aden as it headed for the Iranian port of Bandar Abbas, maritime officials said. In October, Iran paid ransom to gain release of a merchant vessel hijacked off the Somali coast two months earlier. This year, Somali pirates have attacked 90 ships, more than double the number in 2007, according to the International Maritime Bureau. Pirates are still holding 16 ships and more than 250 sailors.
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"Around Thursday noon the first contact was made with the 'Delight' after its hijacking and fortunately all its crew is safe and sound," the urgent reaction committee of the Islamic Republic of Iran Shipping Lines said. "The urgent reaction committee along with concerned officials will make efforts to release the ship and its 25 crew members," a statement added, without providing further details. The Delight was carrying 36,000 tonnes of wheat when it was attacked on Tuesday in the Gulf of Aden as it headed for the Iranian port of Bandar Abbas, maritime officials said. In October, Iran paid ransom to gain release of a merchant vessel hijacked off the Somali coast two months earlier. This year, Somali pirates have attacked 90 ships, more than double the number in 2007, according to the International Maritime Bureau. Pirates are still holding 16 ships and more than 250 sailors.
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StatoilHydro makes additional Gas Discovery in Norwegian Sea
StatoilHydro has made a small additional gas discovery during drilling of an exploration well northwest of Sandnessjøen in mid-Norway.
As operator of production license 218, StatoilHydro is currently concluding the drilling of exploration well 6707/10-2 A. The well has been drilled southeast of the Luva gas discovery, 280 kilometers northwest of Sandnessjøen. The purpose of the well was to confirm petroleum in Upper Cretaceous reservoir rock. The well was a planned sidetrack to a deeper prospect following the confirmation of 8–14 billion cubic meters (Sm3) of gas during drilling of well 6707/10-2 S in October 2008 in a prospect called Haklang. The well confirmed a 38 meter gas column in the lower part of the Nise formation. The confirmed resources are small, and it is too early to say whether the discovery is commercially viable when seen in connection with a possible field development of Haklang and the nearby Luva and Snefrid South finds. "This year we have drilled three exploration wells in the vicinity of Luva and gas has been found in all wells," says Frode Fasteland, who is StatoilHydro's head of exploration in the Norwegian Sea. "This well confirmed a new exploration model, and even if the find is small it offers exciting opportunities for further exploration in this part of the Norwegian Sea," says Mr Fasteland. This is the fourth exploration well in production license 218, which was awarded in the 15th licensing round in 1996.
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As operator of production license 218, StatoilHydro is currently concluding the drilling of exploration well 6707/10-2 A. The well has been drilled southeast of the Luva gas discovery, 280 kilometers northwest of Sandnessjøen. The purpose of the well was to confirm petroleum in Upper Cretaceous reservoir rock. The well was a planned sidetrack to a deeper prospect following the confirmation of 8–14 billion cubic meters (Sm3) of gas during drilling of well 6707/10-2 S in October 2008 in a prospect called Haklang. The well confirmed a 38 meter gas column in the lower part of the Nise formation. The confirmed resources are small, and it is too early to say whether the discovery is commercially viable when seen in connection with a possible field development of Haklang and the nearby Luva and Snefrid South finds. "This year we have drilled three exploration wells in the vicinity of Luva and gas has been found in all wells," says Frode Fasteland, who is StatoilHydro's head of exploration in the Norwegian Sea. "This well confirmed a new exploration model, and even if the find is small it offers exciting opportunities for further exploration in this part of the Norwegian Sea," says Mr Fasteland. This is the fourth exploration well in production license 218, which was awarded in the 15th licensing round in 1996.
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Thursday, November 20, 2008
Indian Navy destroys pirate ship in Gulf of Aden
Dubai: The Indian Navy destroyed a “mother vessel” engaged in piracy in the Gulf of Aden a day after pirates forced a hijacked oil supertanker to enter Somalia’s perilous waters.
The incident took place 285 nautical miles (528 km) southwest of Oman’s port of Salalah on Tuesday. According to the Navy, its warship INS Tabar spotted a ship which was similar to one of the vessels that was suspected of coordinating piracy in the Gulf of Aden. Two speedboats were accompanying the “mother vessel.” The ship threatened to blow up Tabar when it was asked to stop for investigation. Armed with guns and rocket propelled grenades, the pirates were seen roaming on the upper deck of their ship. The Navy said Tabar retaliated when the other ship opened fire. Consequently, the vessel caught fire. Loud explosions could be heard, possibly because ammunition stored in the ship went off. In its statement, the Navy added: “Almost simultaneously, the two speedboats were observed breaking off to escape. The ship chased the first boat, which was later found abandoned. The other boat made good its escape into darkness." This is the second major occasion when the Navy encountered pirates in the Gulf of Aden. It prevented the hijacking of the Indian merchant ship, Jag Arnav, and a Saudi vessel on November 11.
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The incident took place 285 nautical miles (528 km) southwest of Oman’s port of Salalah on Tuesday. According to the Navy, its warship INS Tabar spotted a ship which was similar to one of the vessels that was suspected of coordinating piracy in the Gulf of Aden. Two speedboats were accompanying the “mother vessel.” The ship threatened to blow up Tabar when it was asked to stop for investigation. Armed with guns and rocket propelled grenades, the pirates were seen roaming on the upper deck of their ship. The Navy said Tabar retaliated when the other ship opened fire. Consequently, the vessel caught fire. Loud explosions could be heard, possibly because ammunition stored in the ship went off. In its statement, the Navy added: “Almost simultaneously, the two speedboats were observed breaking off to escape. The ship chased the first boat, which was later found abandoned. The other boat made good its escape into darkness." This is the second major occasion when the Navy encountered pirates in the Gulf of Aden. It prevented the hijacking of the Indian merchant ship, Jag Arnav, and a Saudi vessel on November 11.
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Platform P-51 leaves BrasFELS shipyard
Angra Dos Reis, Brazil: Floating production platform P-51 has left the BrasFELS shipyard in Angra dos Reis, Brazil, and set sail for the Ilha Grande Bay.
Ilha Grande Bay will undergo final testing and adjustments before starting operations in the Marlim Su field in the Campos Basin for Petrobras. After a 15-day testing period, P-51 will be anchored in the Marlim Su field, 150 kilometers (93 miles) offshore in 1,255 meters (4,117 feet) of water. The platform will be interconnected to 10 oil and gas producing wells and nine water injector wells and begin producing in January. The 480,000-ton platform will have a production capacity of 180,000 b/d of oil and living quarters for 200 personnel. The platform was built entirely in Brazil, with over 75 percent national content. Construction on P-51 marks the production of the first Brazilian semisubmersible hull, and the first deck-mating operation in Brazil, where the upper portion of the platform was connected to the hull. The P-51 was built and integrated by the FSTP consortium of Keppel FELS and Technip in the cities of Niteroi, Itagui and Angra dos Reis.
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Ilha Grande Bay will undergo final testing and adjustments before starting operations in the Marlim Su field in the Campos Basin for Petrobras. After a 15-day testing period, P-51 will be anchored in the Marlim Su field, 150 kilometers (93 miles) offshore in 1,255 meters (4,117 feet) of water. The platform will be interconnected to 10 oil and gas producing wells and nine water injector wells and begin producing in January. The 480,000-ton platform will have a production capacity of 180,000 b/d of oil and living quarters for 200 personnel. The platform was built entirely in Brazil, with over 75 percent national content. Construction on P-51 marks the production of the first Brazilian semisubmersible hull, and the first deck-mating operation in Brazil, where the upper portion of the platform was connected to the hull. The P-51 was built and integrated by the FSTP consortium of Keppel FELS and Technip in the cities of Niteroi, Itagui and Angra dos Reis.
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Financial restructuring to rescue small Korean shipyards
The South Korean Government and creditor banks are to carry out a pre-emptive restructuring for smaller Korean shipyards, which are at risk of folding in the current global financial crisis.
Unlike yards such as DSME, SHI and HHI, smaller shipbuilders are less likely to secure loans from financial institutions, and may be unable to build vessels. A group of creditors have programs on offer, including Korea Federation of Banks (KFB)’s Fast Track program that would mimic the industry-wide restructuring program used successfully in its construction sector. Under these schemes, shipbuilders will enter into an agreement with creditor banks if they want to have their debts rescheduled or receive new loans. But in return, companies will be required to sell assets and take a range of self-rescue measures in a bid to stay afloat. Banks will then screen each firm and provide necessary financing to viable firms but stop extending credit to nonviable ones. Korean shipbuilders are said to have delivered nearly 45% of new ships across the globe last year, earning about 45 trillion won ($31bn). However, data is unavailable for the contribution of small and medium sized shipyards to this figure.
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Unlike yards such as DSME, SHI and HHI, smaller shipbuilders are less likely to secure loans from financial institutions, and may be unable to build vessels. A group of creditors have programs on offer, including Korea Federation of Banks (KFB)’s Fast Track program that would mimic the industry-wide restructuring program used successfully in its construction sector. Under these schemes, shipbuilders will enter into an agreement with creditor banks if they want to have their debts rescheduled or receive new loans. But in return, companies will be required to sell assets and take a range of self-rescue measures in a bid to stay afloat. Banks will then screen each firm and provide necessary financing to viable firms but stop extending credit to nonviable ones. Korean shipbuilders are said to have delivered nearly 45% of new ships across the globe last year, earning about 45 trillion won ($31bn). However, data is unavailable for the contribution of small and medium sized shipyards to this figure.
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Maersk likely to lay up container ships
Copenhagen: Maersk Line has indicated it will "very likely" lay up container ships in 2009 to counter the deepest market downturn in three decades.
The vessels likely would be withdrawn from the market in the first half of 2009, Maersk Line Chief Executive Eivind Kolding was quoted as saying this week in Copenhagen. He added that his expectations for growth of the global container shipping market next year to be zero compared to its 10% annual growth over the past 30 years. Maersk suspended one of its 10 Asia-Europe services for an indefinite period earlier this month. This follows the suspension of another Asia-Europe service in June, which has cut the carrier's capacity on the route by 10% from a year ago. Kolding stressed that Maersk was better placed that many of its rivals to counter the market downturn because unlike them, it has virtually no new ships being delivered in 2009 when the world fleet is set to grew by 13% from 2008. There are reported to more than 80 containerships currently laid up, including a dozen larger vessels of 5,000-8,000teu at anchor off Singapore, Hong Kong and Shanghai.
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The vessels likely would be withdrawn from the market in the first half of 2009, Maersk Line Chief Executive Eivind Kolding was quoted as saying this week in Copenhagen. He added that his expectations for growth of the global container shipping market next year to be zero compared to its 10% annual growth over the past 30 years. Maersk suspended one of its 10 Asia-Europe services for an indefinite period earlier this month. This follows the suspension of another Asia-Europe service in June, which has cut the carrier's capacity on the route by 10% from a year ago. Kolding stressed that Maersk was better placed that many of its rivals to counter the market downturn because unlike them, it has virtually no new ships being delivered in 2009 when the world fleet is set to grew by 13% from 2008. There are reported to more than 80 containerships currently laid up, including a dozen larger vessels of 5,000-8,000teu at anchor off Singapore, Hong Kong and Shanghai.
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Middle East emerges major opportunity for international investors
The Middle East is currently seeing a surge in investor interest as the region houses the world’s largest oil and gas reserves.
The Middle East and North African (MENA) region has been heavily exploited since 2003, with production rates increasing to meet the continued demand in oil and gas. Douglas Westwood Limited, which conducts market surveys, research and analysis, said that oil prices have increased rapidly in recent years at a gradual and sustained rate, rather than experiencing oil price “spikes” which are caused by geopolitical tension or temporary service disruption. The gradual price increase is said to be caused by the lack of extra production capacity in the oil producing MENA regions. Thus, high oil prices with increasing price volatility are increasingly considered the norm. Other large exporters of oil in the world include Russia and West Africa, However these two regions only produce a total of 50 percent of MENA production outputs. Offshore oil production has grown by 16 percent to nearly 900,000 barrels per day since 2000, but this is small compared with the 290 percent increase in gas production in the region to 1.4 million barrels of oil equivalent per day (boe/d).
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The Middle East and North African (MENA) region has been heavily exploited since 2003, with production rates increasing to meet the continued demand in oil and gas. Douglas Westwood Limited, which conducts market surveys, research and analysis, said that oil prices have increased rapidly in recent years at a gradual and sustained rate, rather than experiencing oil price “spikes” which are caused by geopolitical tension or temporary service disruption. The gradual price increase is said to be caused by the lack of extra production capacity in the oil producing MENA regions. Thus, high oil prices with increasing price volatility are increasingly considered the norm. Other large exporters of oil in the world include Russia and West Africa, However these two regions only produce a total of 50 percent of MENA production outputs. Offshore oil production has grown by 16 percent to nearly 900,000 barrels per day since 2000, but this is small compared with the 290 percent increase in gas production in the region to 1.4 million barrels of oil equivalent per day (boe/d).
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Training ship holds anti-piracy drill
The Japanese coast guard and Mitsui OSK Lines (MOL) have conducted an anti-piracy / terrorism drill on board MOL’s training ship, ‘Spirit of MOL’.
The exercise was held in the South China Sea on November 17. The training was based on a scenario in which a high-speed boat, suspected of plotting a seajacking, was tailing the ‘Spirit of MOL’. During the drill, the coast guard’s patrol ship ‘Shikishima’ hurried to site, and marine safety officers boarded the ‘Spirit of MOL’. The drill helped establish the effectiveness of MOL’s crisis management programs as well as its communication systems and methods. This drill proved to be an invaluable lesson for the 170 trainees serving onboard the training ship. The trainees were reviewed and tested on the steps they had followed in case of an attack by pirates or terrorists. The trainees sent out security warnings to report a possible seajacking to the vessel’s ship management company, M.O. Cable Ship and the Japanese Coast Guard. To prevent the seajackers from boarding the vessel, the crew sprayed water, locked all doors and conducted emergency vessel handling. Upon receiving the report from the vessel, the ship management company immediately conveyed the information to MOL’s Safety Operation Supporting Center at the head office, which works 24/7 to enhance the safety of all MOL-operated vessels. After receiving the report from the ‘Spirit of MOL”, the coast guard dispatched the ‘Shikishima’, which was on anti-piracy / terrorism patrol in to the training ship’s location.
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The exercise was held in the South China Sea on November 17. The training was based on a scenario in which a high-speed boat, suspected of plotting a seajacking, was tailing the ‘Spirit of MOL’. During the drill, the coast guard’s patrol ship ‘Shikishima’ hurried to site, and marine safety officers boarded the ‘Spirit of MOL’. The drill helped establish the effectiveness of MOL’s crisis management programs as well as its communication systems and methods. This drill proved to be an invaluable lesson for the 170 trainees serving onboard the training ship. The trainees were reviewed and tested on the steps they had followed in case of an attack by pirates or terrorists. The trainees sent out security warnings to report a possible seajacking to the vessel’s ship management company, M.O. Cable Ship and the Japanese Coast Guard. To prevent the seajackers from boarding the vessel, the crew sprayed water, locked all doors and conducted emergency vessel handling. Upon receiving the report from the vessel, the ship management company immediately conveyed the information to MOL’s Safety Operation Supporting Center at the head office, which works 24/7 to enhance the safety of all MOL-operated vessels. After receiving the report from the ‘Spirit of MOL”, the coast guard dispatched the ‘Shikishima’, which was on anti-piracy / terrorism patrol in to the training ship’s location.
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Wednesday, November 19, 2008
MASTECH 2008
MASTECH 2008, an International Marine and Technical Conference on Naval Architecture & Shipbuilding Technology was organized by MAST (Middle East Alumni of Ship Technology). The conference took place on the 12th and 13th of November 2008 at Hotel Crowne Plaza, Dubai. MASTECH was also supported by Marine BizTV and BizTV Events.
Techno Maritime Awards 2008, an award ceremony was organized on the 13th of November 2008 to honour the outstanding contributions in Maritime industry. The contributions were acknowledged with awards under 20 different categories; also celebrating the Silver jubilee of MAST.
MASTECH 2008 included:
· Two day conference on Naval Architecture and Shipbuilding.
· MASTECH DIGI Show
· MASTECH Techno Maritime Awards
· Silver Jubilee Celebrations of MAST
Techno Maritime Awards 2008, an award ceremony was organized on the 13th of November 2008 to honour the outstanding contributions in Maritime industry. The contributions were acknowledged with awards under 20 different categories; also celebrating the Silver jubilee of MAST.
MASTECH 2008 included:
· Two day conference on Naval Architecture and Shipbuilding.
· MASTECH DIGI Show
· MASTECH Techno Maritime Awards
· Silver Jubilee Celebrations of MAST
Efforts on to release supertanker
Dubai: Contact has been established between the Somali pirates and the owners of the oil supertanker that was hijacked off the Kenyan coast on Sunday.
According to the spokesperson of the Bahrain-based U.S. Fifth Fleet, which has been monitoring the movement of the 330-metre-long tanker, Sirius Star, pirates have taken the ship to their stronghold of Eyl along Somalia’s coast. The Dubai-based Vela International Marine Ltd., which operates the tanker, said crisis teams had been established to seek the release to the 25 crew members on board the ship. The crew consists of two British, two Polish, one Croatian, one Saudi and 19 Philippines nationals. In a statement on Tuesday, the company said it was “awaiting further contact from the pirates in control of the vessel.” This is the first occasion when a supertanker, with a cargo of 2 million barrels of oil valued at $100 million, has been pirated. The hijack triggered on Monday a jump in oil prices. It is also for the first time that a large vessel has been hijacked, so far away from the coast — 450 nautical miles from the Kenyan shoreline. The supertanker, three times larger than an American aircraft carrier, is owned by Saudi Arabia’s oil company, Aramco.
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According to the spokesperson of the Bahrain-based U.S. Fifth Fleet, which has been monitoring the movement of the 330-metre-long tanker, Sirius Star, pirates have taken the ship to their stronghold of Eyl along Somalia’s coast. The Dubai-based Vela International Marine Ltd., which operates the tanker, said crisis teams had been established to seek the release to the 25 crew members on board the ship. The crew consists of two British, two Polish, one Croatian, one Saudi and 19 Philippines nationals. In a statement on Tuesday, the company said it was “awaiting further contact from the pirates in control of the vessel.” This is the first occasion when a supertanker, with a cargo of 2 million barrels of oil valued at $100 million, has been pirated. The hijack triggered on Monday a jump in oil prices. It is also for the first time that a large vessel has been hijacked, so far away from the coast — 450 nautical miles from the Kenyan shoreline. The supertanker, three times larger than an American aircraft carrier, is owned by Saudi Arabia’s oil company, Aramco.
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IMO Launches the "Go to Sea!" Campaign
A campaign to address the global shortage of seafarers, which threatens the very future of the international shipping industry, has been launched by the International Maritime Organization.
The campaign was in association with the International Labour Organization, the "Round Table" of shipping organizations - BIMCO, ICS/ISF, Intercargo and Intertanko - and the International Transport Workers' Federation. The campaign calls on governments, industry and IMO, supported by ILO and other international organizations, to take specific actions, within their areas of influence, to increase the recruitment of seafarers to tackle the problem. A recent report issued by maritime industry analysts Drewry Shipping Consultants assessed the current shortfall of officers in the global shipping fleet to be some 34,000, against a total requirement of 498,000. Moreover, based on Drewry's fleet growth projections, and the assumption that officer supply will only increase at the current rate, the report predicts that, by 2012, the officer shortfall will have grown to 83,900. The shipping industry can provide the basis for a fulfilling and satisfying life-long career and the problem is one of recruitment, rather than retention in the profession, he added, noting that this required a shift in the public perception of shipping, particularly amongst the young. IMO - the International Maritime Organization - is the United Nations specialized agency with responsibility for the safety and security of shipping and the prevention of marine pollution by ships.
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The campaign was in association with the International Labour Organization, the "Round Table" of shipping organizations - BIMCO, ICS/ISF, Intercargo and Intertanko - and the International Transport Workers' Federation. The campaign calls on governments, industry and IMO, supported by ILO and other international organizations, to take specific actions, within their areas of influence, to increase the recruitment of seafarers to tackle the problem. A recent report issued by maritime industry analysts Drewry Shipping Consultants assessed the current shortfall of officers in the global shipping fleet to be some 34,000, against a total requirement of 498,000. Moreover, based on Drewry's fleet growth projections, and the assumption that officer supply will only increase at the current rate, the report predicts that, by 2012, the officer shortfall will have grown to 83,900. The shipping industry can provide the basis for a fulfilling and satisfying life-long career and the problem is one of recruitment, rather than retention in the profession, he added, noting that this required a shift in the public perception of shipping, particularly amongst the young. IMO - the International Maritime Organization - is the United Nations specialized agency with responsibility for the safety and security of shipping and the prevention of marine pollution by ships.
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Mundra, Wilhelmsen and NYK sign automobile terminal MoU
Mumbai: Mundra Port and Special Economic Zone Limited (MPSEZ) has signed a memorandum of understanding to establish a dedicated automobile terminal.
The agreement, with Japan’s Nippon Yusen Kaisha (NYK) and Norway’s Wallenius Wilhelmsen Lines, will substantially boost the Indian port’s current capability of 200,000 cars per annum. Captain Sandeep Mehta, ceo of operations at MPSEZ said "We are pleased to join hands with WWL and NYK to setup a world class automobile terminal facility at Mundra which will help us in imbibing the international best practices." Mundra, which boasts container handling operations, already has contracts in place with Maruti Suzuki and Nissan for export of their cars to Europe beginning January 2009 (prior to completion of the dedicated terminal). "We believe that building this terminal in Mundra will bring efficiencies in auto logistics industry which will help in making India a global player in automotive logistics," said Koji Shinozaki, NYK Japan deputy gm.
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The agreement, with Japan’s Nippon Yusen Kaisha (NYK) and Norway’s Wallenius Wilhelmsen Lines, will substantially boost the Indian port’s current capability of 200,000 cars per annum. Captain Sandeep Mehta, ceo of operations at MPSEZ said "We are pleased to join hands with WWL and NYK to setup a world class automobile terminal facility at Mundra which will help us in imbibing the international best practices." Mundra, which boasts container handling operations, already has contracts in place with Maruti Suzuki and Nissan for export of their cars to Europe beginning January 2009 (prior to completion of the dedicated terminal). "We believe that building this terminal in Mundra will bring efficiencies in auto logistics industry which will help in making India a global player in automotive logistics," said Koji Shinozaki, NYK Japan deputy gm.
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MOL to quit ELAA
Japanese shipping giant MOL, having announced its departure from transpacific quasi-conferences, says it has also resigned from the European Liner Affairs Association (ELAA).
The carrier announced that it will quit the two mentioned transpacific freight conferences from November 27. "With the European Union's abolition of liner antitrust immunity, it has become extremely difficult to align the business processes of our entire organization when its regional divisions must operate to differing standards," said Masakazu Yakushiji, Executive Vice President in charge of MOL's Liner division. Brussels-based ELAA Executive Director Chris Bourne considered it a sad leaving and adding that his group's membership had grown nonetheless and that MOL was an exception rather than the rule.
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The carrier announced that it will quit the two mentioned transpacific freight conferences from November 27. "With the European Union's abolition of liner antitrust immunity, it has become extremely difficult to align the business processes of our entire organization when its regional divisions must operate to differing standards," said Masakazu Yakushiji, Executive Vice President in charge of MOL's Liner division. Brussels-based ELAA Executive Director Chris Bourne considered it a sad leaving and adding that his group's membership had grown nonetheless and that MOL was an exception rather than the rule.
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Zamil launches new Rolls Royce AHTS
Last week, Saudi Arabia's Zamil Shipbuilding & Ship Repair launched ‘Zamil-54’, the third Rolls Royce UT 733-2 AHTS built at its Dammam shipyard.
This vessel is the third of seven vessels of the same type to be built under license agreement from Rolls Royce Marine- Norway. The vessels will all be classed by ABS. Zamil Shipyard has a full order book and will be busy with new buildings to mid 2012. Other vessels on order include four more UT AHTS, one buoy handling vessel, five tugs and one diving support vessel.
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This vessel is the third of seven vessels of the same type to be built under license agreement from Rolls Royce Marine- Norway. The vessels will all be classed by ABS. Zamil Shipyard has a full order book and will be busy with new buildings to mid 2012. Other vessels on order include four more UT AHTS, one buoy handling vessel, five tugs and one diving support vessel.
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DP World – UAE Region to provide full scholarships at University of Dubai
MoU signed for educational support and employment of gifted Emirati students.
In line with its policy of supporting and encouraging UAE national students, DP World – UAE Region is providing full scholarships for Emirati students to attend the University of Dubai’s College of Business or College of Information Technology. The marine terminal operator has signed a Memorandum of Understanding with the University of Dubai that will see students pursuing majors in Accounting or Finance or pursuing majors in Computing and Information System being awarded scholarships. Starting from the 2008-2009 academic year, DP World will interview and assess a number of Emirati students nominated by the University of Dubai and select those that meet DP World’s criteria for potential future employees. DP World – UAE will provide the students with all their educational needs and bear all expenses throughout the scholarship period, in addition to taking them in for summer training programs at the company’s offices at Jebel Ali Port.
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In line with its policy of supporting and encouraging UAE national students, DP World – UAE Region is providing full scholarships for Emirati students to attend the University of Dubai’s College of Business or College of Information Technology. The marine terminal operator has signed a Memorandum of Understanding with the University of Dubai that will see students pursuing majors in Accounting or Finance or pursuing majors in Computing and Information System being awarded scholarships. Starting from the 2008-2009 academic year, DP World will interview and assess a number of Emirati students nominated by the University of Dubai and select those that meet DP World’s criteria for potential future employees. DP World – UAE will provide the students with all their educational needs and bear all expenses throughout the scholarship period, in addition to taking them in for summer training programs at the company’s offices at Jebel Ali Port.
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Tuesday, November 18, 2008
Somali pirates hijack 'Sirius Star' VLCC, largest ship ever seized
Somali pirates hijacked a Saudi Aramco crude tanker on November 15 some 450 nautical miles southeast of Mombasa, Kenya.
The US Navy said yesterday that the pirates were approaching a Somali port with ‘Sirius Star’ and her crew of 25. The crew who come from Britain, Croatia, Poland, the Philippines and Saudi Arabia, are all said to be in good health. While Navies from various countries including USA and Russia have been patrolling the area of the Gulf of Aden piracy hot spot due to the outbreak of piracy in recent times, Graeme Gibbon Brooks, managing director of Dryad Maritime Intelligence Service told that there would never be enough warships to patrol the entire area. "The whole area is 2.5 million square miles,” he said. The ‘Sirius Star’ is the largest ship ever hijacked by Somali pirates, and the 318,000DWT tanker is capable of carrying up to two million barrels of oil. However, the US Navy Fifth Fleet Commander Jane Campbell told that the Navy was unlikely to dispatch an aide vessel to the tanker, because it did not have weapons on board, like the Ukrainian ship ‘Faina’ which was seized by Somali pirates in September.
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The US Navy said yesterday that the pirates were approaching a Somali port with ‘Sirius Star’ and her crew of 25. The crew who come from Britain, Croatia, Poland, the Philippines and Saudi Arabia, are all said to be in good health. While Navies from various countries including USA and Russia have been patrolling the area of the Gulf of Aden piracy hot spot due to the outbreak of piracy in recent times, Graeme Gibbon Brooks, managing director of Dryad Maritime Intelligence Service told that there would never be enough warships to patrol the entire area. "The whole area is 2.5 million square miles,” he said. The ‘Sirius Star’ is the largest ship ever hijacked by Somali pirates, and the 318,000DWT tanker is capable of carrying up to two million barrels of oil. However, the US Navy Fifth Fleet Commander Jane Campbell told that the Navy was unlikely to dispatch an aide vessel to the tanker, because it did not have weapons on board, like the Ukrainian ship ‘Faina’ which was seized by Somali pirates in September.
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New vessel to clean up Middle Eastern Pearl Island
Water Witch Workboats, Liverpool, UK, has just completed a new seven-metre Buddy Catamaran for Ronautica Middle East in Qatar.
Built to service The Pearl, an offshore manmade island with over 32 kilometers of new coastline and accommodating 1,500 berths, the vessel will be kept busy retrieving floating litter and debris using a collecting basket mounted between the hulls. The craft features a large working area with removable deck plates and handrails for versatility. The aluminium wheelhouse provides accommodation for a crew of three coupled with plenty of secure storage. The step-down wheelhouse allows for low headroom of only 2.1 metres for navigating under low bridges and the oversized windows allow for good 360 degree visibility. The topside of the wheelhouse has a solar panel fitted to top up the dual charging batteries. The vessel was delivered complete with a removable davit and Honda driven pot puller / hauler for lifting aeration pumps from the seabed, making routine maintenance of the system easy work. A drop down ladder complete with hand grab rails was also fitted, using the same quick-fit fixing system utilized for the handrails. When not in use this is neatly stowed on the handrail. The new all welded aluminium twin hulled craft is powered by a high thrust Yamaha BETL outboard engine matched with a dual thrust propeller for maximum maneuverability.
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Built to service The Pearl, an offshore manmade island with over 32 kilometers of new coastline and accommodating 1,500 berths, the vessel will be kept busy retrieving floating litter and debris using a collecting basket mounted between the hulls. The craft features a large working area with removable deck plates and handrails for versatility. The aluminium wheelhouse provides accommodation for a crew of three coupled with plenty of secure storage. The step-down wheelhouse allows for low headroom of only 2.1 metres for navigating under low bridges and the oversized windows allow for good 360 degree visibility. The topside of the wheelhouse has a solar panel fitted to top up the dual charging batteries. The vessel was delivered complete with a removable davit and Honda driven pot puller / hauler for lifting aeration pumps from the seabed, making routine maintenance of the system easy work. A drop down ladder complete with hand grab rails was also fitted, using the same quick-fit fixing system utilized for the handrails. When not in use this is neatly stowed on the handrail. The new all welded aluminium twin hulled craft is powered by a high thrust Yamaha BETL outboard engine matched with a dual thrust propeller for maximum maneuverability.
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