Ukrainian shipyard prepares for the largest order since Soviet times

Ukrainian shipyard Zaliv intends to build a fully completed bulk ship with a payload of 175 thousand tonnes, to be made for a Ukrainian company.

In total, Zaliv plans to construct ten bulk ships for the same customer. Zaliv announced that the technical project of the ship designed by Chernomorsudoproject (Nikolaev), is at the final stage of approval by the leading classification society Germanischer Lloyd. According to the shipyard, this order is the largest project since the USSR.
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Singapore shipping wants IMO lead on emissions

The Singapore Shipping Association has backed calls for global, International Maritime Organization (IMO)-led measures to tackle ship-generated pollution.

SSA President S.S. Teo said the local shipping community was "fully behind” IMO initiatives which aim for a “holistic and scientific approach to reducing air pollution Goh Teik Poh, chairman of the SSA technical committee, spoke against regional, unilateral regulations to reduce ship emissions, citing Europe and California as examples. A global approach was needed, he said, while regional initiatives had to be avoided. “It is important to respect IMO rulings,” he said. “Or else it would be a free-for-all situation, which would raise the cost of doing business on the whole.” The SSA reiterated its support for the “goal-based approach adopted by the IMO in reducing sulphur emissions”. It said it was pleased to note a “strengthened compliance” provision made available to shipowners to comply with more stringent standards of sulphur content in ship's fuel. The SSA “also views it as essential, to consider measures in reducing the emission of greenhouse gases such as carbon dioxide from ships.”
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Shipping magnate makes waves in the Mediterranean

CMA CGM, Saade's company, is one of two container lines to have risen rapidly from Mediterranean foundations to dominate much around them.

Mediterranean Shipping Company, founded in 1969 by Gianluigi Aponte, was the world's No 4 container line only seven years ago but has leapfrogged slower-growing Asian lines to become No 2. CMA CGM has gone in the same period from No 5 to No 3. It operates 393 vessels, to MSC's 398, according to figures from AXS Marine, a Paris shipbroker. Both lines have been quicker than Asian rivals such as Taiwan's Evergreen Marine to invest in new, larger ships to serve the fast-growing market bringing Asia's exports to Europe and the US. Their latest orders, which are able to carry roughly the equivalent of 12,000 20-foot containers (TEUs) are twice the biggest vessels of a decade ago and are aimed at Asia-Europe trade. They will cost $170 million each. MSC's outstanding ship orders will increase its existing capacity by 44.7 per cent, according to AXS Marine, while CMA CGM's orderbook will boost its capacity by 67.5 per cent. The risk is that fleet ex-pansion will outpace demand, pushing down the rates the lines can charge and hampering their ability to pay for the vast new vessels. World container capacity is set to grow by more than 15 per cent this year alone. Published financial information gives little idea how the lines would handle a slump.

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Deepsea Trym at Troll Through 2011

StatoilHydro has entered into an agreement on a two-year extension of a current contract with Odfjell Drilling for the Deepsea Trym drilling rig on behalf of the partners in the Troll licence.

Deepsea Trym has been employed on the Troll field since 2005 and will continue to operate on the field during the extended contract period through 2011. This contract gives StatoilHydro good rig coverage at the Troll field for the next years and allows realization of the planned drilling activities in the area. "The contract extension allows StatoilHydro to continue carrying out efficient and good resource management on the Norwegian continental shelf. Increased oil recovery is an essential part of the further development of the Troll field,” says Ivar Aasheim, senior vice president for Operations North Sea. Deepsea Trym is owned by Songa Offshore ASA and the operator is Odfjell Drilling.

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Deepsea Trym at Troll Through 2011

StatoilHydro has entered into an agreement on a two-year extension of a current contract with Odfjell Drilling for the Deepsea Trym drilling rig on behalf of the partners in the Troll licence.

Deepsea Trym has been employed on the Troll field since 2005 and will continue to operate on the field during the extended contract period through 2011. This contract gives StatoilHydro good rig coverage at the Troll field for the next years and allows realization of the planned drilling activities in the area. "The contract extension allows StatoilHydro to continue carrying out efficient and good resource management on the Norwegian continental shelf. Increased oil recovery is an essential part of the further development of the Troll field,” says Ivar Aasheim, senior vice president for Operations North Sea. Deepsea Trym is owned by Songa Offshore ASA and the operator is Odfjell Drilling.

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Sister joint ventures for Gulf Navigation and Stolt-Nielsen

Gulf Navigation has entered into two 50/50 joint ventures with Stolt-Nielsen subsidiary, Stolt-Nielsen Indian Ocean and Middle East Service in Dubai.

The first joint venture, Gulf Stolt Tankers FZCO, will own six new 44,000dwt coated chemical tankers. The ships will be traded in the Stolt Tankers Joint Service (STJS). Technical ship management will be provided by a second joint venture, Gulf Stolt Ship Management JLT, owned by Gulf Navigation and Stolt. Stolt-Nielsen will take delivery of four of the tankers - ordered in 2006 from SLS Shipbuilding in South Korea - during 2008 and 2009. Gulf Navigation will take delivery of two additional sister ships in 2009, having taken over options previously held by Stolt-Nielsen. One of the four Stolt-Nielsen ships will be sold to Gulf Navigation, who will bareboat charter their three ships to the joint venture to create the 50/50 joint venture comprising the six ships. “Meeting the long-term tonnage requirements of the rapidly growing producers in the Arabian Gulf is a key element of Gulf Navigation's growth strategy,” said Abdullah Al-Shuraim, Gulf Navigation chairman. "This new structure enhances the scope of our partnership with Stolt and our participation in the STJS."

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