Pyongyang: A joint venture between the Russian Railways Trading House and the North Korean port Rajin has been registered in Rajin-Sonbong Special Economic Zone (Rason) for 49 years.
The Russian company will have 70% in the venture and the North Korean port 30%.It has been agreed that the Russian Railways Trading House will provide investment, while the North Korean partner will provide property rights for the port's third mooring berth and the adjacent area. The joint venture will build a container terminal in the Rajin seaport with a capacity of up to 400,000 teu a year, providing Russia with a Pacific outlet not encumbered by ice. Investment in modernising the Tumangan-Rajin railway section and building a terminal will be as much as €140mn. This infrastructure will then be used for transit traffic from the Asia-Pacific region via the port of Rajin and on to the Trans-Siberian. South Korea and North Korea have recently established a rail link and many hope that this one day could allow cargoes from Busan to be sent by train all the way to Europe. As it is there is a sailing a week from Busan to Rajin.
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Friday, July 18, 2008
MES Starts Ship Operational Analysis Service
On August 1 Mitsui Engineering & Shipbuilding Co., Ltd. starts ship operational analysis service on the Ship Operation Support Portal Site of its Maritime Solution Dept., which enables the assumption of actual ship’s performance under real navigational conditions.
Due to the change of operational environment by the soaring of oil price, global demand for controlling greenhouse gas emission etc., the ship operation nowadays is required to pay attention not only to the economy and efficiency, as was before, but also to the environmental load. In this offered service, the navigational data of the ship are analyzed by creating a ship model by means of a Ship Operation Analysis System developed by Akishima Laboratories (Mitsui Zosen) Ltd. (MES’s 100 percent owned subsidiary with president Mr. Junshi Takashina) gathering information on the ship’s outline specifications and operational data (such as Noon Report, ABLOG etc.) from the customer. The data analyzed are segregated according to aging degradation and disturbance effect in chronological order and will be supplied as ship’s operation performance information under actual sea conditions including data for sea margin, decrease of ship’s speed and FOC analysis information. In addition, operational schedule support service is also offered by supplying data of meteorological influence according to season of the year and the navigational route to help finding of contractual speed, bunker contract and operational schedule most appropriate to every and each ship for its own navigational route.
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Due to the change of operational environment by the soaring of oil price, global demand for controlling greenhouse gas emission etc., the ship operation nowadays is required to pay attention not only to the economy and efficiency, as was before, but also to the environmental load. In this offered service, the navigational data of the ship are analyzed by creating a ship model by means of a Ship Operation Analysis System developed by Akishima Laboratories (Mitsui Zosen) Ltd. (MES’s 100 percent owned subsidiary with president Mr. Junshi Takashina) gathering information on the ship’s outline specifications and operational data (such as Noon Report, ABLOG etc.) from the customer. The data analyzed are segregated according to aging degradation and disturbance effect in chronological order and will be supplied as ship’s operation performance information under actual sea conditions including data for sea margin, decrease of ship’s speed and FOC analysis information. In addition, operational schedule support service is also offered by supplying data of meteorological influence according to season of the year and the navigational route to help finding of contractual speed, bunker contract and operational schedule most appropriate to every and each ship for its own navigational route.
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Petrobras approves four Transocean rigs for offshore work in Brazil
Transocean, USA, announced yesterday that the board of directors of Petroleo Brasileiro (Petrobras) has approved contract awards for four of the company's rigs totaling 22 rig years and approximately US$3.0 billion in combined estimated contract revenues.
Estimated contract revenues for each rig represent the maximum amount of revenues that may be earned in the applicable contract period, including revenues from a 15percent additional rate, payable unless rig downtime exceeds five percent, and excluding revenues from cost escalation and demobilisation. The approved contracts are expected to be executed by subsidiaries of Petrobras and Transocean in the next 30 to 60 days. The contract approved for the ‘Sedco 707’, a dynamically positioned semisubmersible rig capable of operating in water depths of up to 2,000 meters, has a five-year term which is expected to commence in December 2009 following the completion of the rig's current contract commitments. Estimated revenues that could be generated over the five-year contract period are approximately US$841 million. The contract approved for the ‘Deepwater Navigator’, a dynamically positioned drillship capable of operating in water depths of up to 2,000 meters, has a five-year term which is expected to commence in March 2011 following the completion of the rig's current contract commitment. Estimated revenues that could be generated over the five-year contract period are approximately US$801 million. The contract approved for the ‘Sedco 710’, a dynamically positioned semisubmersible rig capable of operating in water depths of up to 1,200 meters, has a six-year term which is expected to commence in November 2010 following the completion of the rig's current contract commitment. Estimated revenues that could be generated over the six-year contract period are approximately US$730 million. The contract approved for the ‘Transocean Driller’, a moored semisubmersible rig capable of operating in water depths of up to 1,050 meters, has a six-year term which is expected to commence in August 2010 following the completion of the rig's current contract commitment. Estimated revenues that could be generated over the six-year contract period are approximately $680 million.
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Estimated contract revenues for each rig represent the maximum amount of revenues that may be earned in the applicable contract period, including revenues from a 15percent additional rate, payable unless rig downtime exceeds five percent, and excluding revenues from cost escalation and demobilisation. The approved contracts are expected to be executed by subsidiaries of Petrobras and Transocean in the next 30 to 60 days. The contract approved for the ‘Sedco 707’, a dynamically positioned semisubmersible rig capable of operating in water depths of up to 2,000 meters, has a five-year term which is expected to commence in December 2009 following the completion of the rig's current contract commitments. Estimated revenues that could be generated over the five-year contract period are approximately US$841 million. The contract approved for the ‘Deepwater Navigator’, a dynamically positioned drillship capable of operating in water depths of up to 2,000 meters, has a five-year term which is expected to commence in March 2011 following the completion of the rig's current contract commitment. Estimated revenues that could be generated over the five-year contract period are approximately US$801 million. The contract approved for the ‘Sedco 710’, a dynamically positioned semisubmersible rig capable of operating in water depths of up to 1,200 meters, has a six-year term which is expected to commence in November 2010 following the completion of the rig's current contract commitment. Estimated revenues that could be generated over the six-year contract period are approximately US$730 million. The contract approved for the ‘Transocean Driller’, a moored semisubmersible rig capable of operating in water depths of up to 1,050 meters, has a six-year term which is expected to commence in August 2010 following the completion of the rig's current contract commitment. Estimated revenues that could be generated over the six-year contract period are approximately $680 million.
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Yacht Express Makes Debut Down Under
Dockwise Yacht Transport and Aurora Global Logistics Help Yacht Owners Reach South Pacific Destinations.
Dockwise Yacht Transports’ (DYT) newest ship, the 687.5-foot (209 meter) Yacht Express, is due to arrive in Brisbane next week, marking its official debut Down Under. The largest vessel of its kind in the world, Yacht Express was purpose-built with a semi-submersible dock bay that allows yachts of any size to be safely floated on and off as cargo. The ship made its maiden voyage from Ft. Lauderdale, Fla., to Genoa, Italy, in April with a mostly-megayacht load worth $154 million. "Having Yacht Express calling on the South Pacific, now on a regular basis, greatly increases our ability to carry more yachts. This in turn will boost the superyacht industry within both Australia and New Zealand," said Jason Roberts of Aurora Global Logistics, the exclusive agent for DYT in Australia. Twenty-five of the vessels will unload in Brisbane while eight will remain in transit. Sixteen vessels will then load in Brisbane for the return voyage where their final destination will be either Auckland, Papeete (Tahiti) or Ensenada before Yacht Express returns to Ft. Lauderdale for its next transatlantic expedition. According to Roberts, while the safe and efficient float-on/float-off process is unique to DYT, it is also personal professional service that sets DYT apart as a leader in shipping private luxury yachts around the world. "We work directly with the boat captains, owners and DYT loading masters for a seamless program to ensure that the service provided by Aurora Global Logistics and DYT stays at the forefront of marine logistics within the South Pacific." The size and power of the Yacht Express (it has a service speed of 18 knots) typically pares down transport times. For example, a trans-Atlantic crossing can take as few as 10 days where before it took 15. In addition, Yacht Express provides yacht owners with a state-of-the-art transport facility with extra accommodations for crew who are riding along. Yacht Express is more than 130 feet longer than DYT's other three semi-submersible carriers and features such added amenities as complimentary cabins, an atrium with lounge bar and swimming pool, restaurant and cinema, as well as conference, media and fitness facilities.
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Dockwise Yacht Transports’ (DYT) newest ship, the 687.5-foot (209 meter) Yacht Express, is due to arrive in Brisbane next week, marking its official debut Down Under. The largest vessel of its kind in the world, Yacht Express was purpose-built with a semi-submersible dock bay that allows yachts of any size to be safely floated on and off as cargo. The ship made its maiden voyage from Ft. Lauderdale, Fla., to Genoa, Italy, in April with a mostly-megayacht load worth $154 million. "Having Yacht Express calling on the South Pacific, now on a regular basis, greatly increases our ability to carry more yachts. This in turn will boost the superyacht industry within both Australia and New Zealand," said Jason Roberts of Aurora Global Logistics, the exclusive agent for DYT in Australia. Twenty-five of the vessels will unload in Brisbane while eight will remain in transit. Sixteen vessels will then load in Brisbane for the return voyage where their final destination will be either Auckland, Papeete (Tahiti) or Ensenada before Yacht Express returns to Ft. Lauderdale for its next transatlantic expedition. According to Roberts, while the safe and efficient float-on/float-off process is unique to DYT, it is also personal professional service that sets DYT apart as a leader in shipping private luxury yachts around the world. "We work directly with the boat captains, owners and DYT loading masters for a seamless program to ensure that the service provided by Aurora Global Logistics and DYT stays at the forefront of marine logistics within the South Pacific." The size and power of the Yacht Express (it has a service speed of 18 knots) typically pares down transport times. For example, a trans-Atlantic crossing can take as few as 10 days where before it took 15. In addition, Yacht Express provides yacht owners with a state-of-the-art transport facility with extra accommodations for crew who are riding along. Yacht Express is more than 130 feet longer than DYT's other three semi-submersible carriers and features such added amenities as complimentary cabins, an atrium with lounge bar and swimming pool, restaurant and cinema, as well as conference, media and fitness facilities.
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Coast Guard Detains Cruise Ship
A 637-ft. cruise ship detained by the U.S. Coast Guard has moved to the Brooklyn Cruise Ship Terminal from Pier 92 in New York City and will continue repairs to fix hull damage and numerous discrepancies found during a recent routine inspection.
The Clipper Pacific, a cruise ship home ported in the Bahamas, will submit a complete repair proposal for the hull damage and 66 violations found during the inspection. The proposal includes sufficient temporary repairs that will allow the vessel to safely travel to their next port of call, where it will make permanent repairs. The Coast Guard and the vessel's classification society have reviewed plans for repair from the ship's master and will conduct a final exam tomorrow morning to determine if the Captain of the Port Order to detain the Clipper Pacific will be lifted and the vessel deemed safe to sail. A six-person examination team from Coast Guard Sector New York boarded the Clipper Pacific at 8 a.m. Sunday to conduct a routine safety inspection. Upon entering New York Harbor the ship's master reported a gash about one inch in length on the left side of the vessel sustained prior to coming to port. Further investigation by the Coast Guard team identified the other 66 discrepancies such as fire safety, lifeboat damages and life jacket issues on the vessel. This inspection lasted from Sunday morning to Tuesday evening. The Clipper Pacific is carrying approximately 1,200 passengers and crew members. The cruise ship was inbound from Greenland when it was stopped by the Coast Guard.
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The Clipper Pacific, a cruise ship home ported in the Bahamas, will submit a complete repair proposal for the hull damage and 66 violations found during the inspection. The proposal includes sufficient temporary repairs that will allow the vessel to safely travel to their next port of call, where it will make permanent repairs. The Coast Guard and the vessel's classification society have reviewed plans for repair from the ship's master and will conduct a final exam tomorrow morning to determine if the Captain of the Port Order to detain the Clipper Pacific will be lifted and the vessel deemed safe to sail. A six-person examination team from Coast Guard Sector New York boarded the Clipper Pacific at 8 a.m. Sunday to conduct a routine safety inspection. Upon entering New York Harbor the ship's master reported a gash about one inch in length on the left side of the vessel sustained prior to coming to port. Further investigation by the Coast Guard team identified the other 66 discrepancies such as fire safety, lifeboat damages and life jacket issues on the vessel. This inspection lasted from Sunday morning to Tuesday evening. The Clipper Pacific is carrying approximately 1,200 passengers and crew members. The cruise ship was inbound from Greenland when it was stopped by the Coast Guard.
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DP World to develop, operate CT at Port of Aden
DP World has landed the rights to operate and develop the container handling facilities in the port of Aden in Yemen.
This comes as the Yemen Gulf of Aden Port Corporation has agreed to lease to DP World the Aden Container Terminal and Ma'alla Container Terminal. A joint venture will invest US$220 million in the Middle Eastern port, which will be used in part to build a new 400 metre berth extension onto the Aden Container Terminal.
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This comes as the Yemen Gulf of Aden Port Corporation has agreed to lease to DP World the Aden Container Terminal and Ma'alla Container Terminal. A joint venture will invest US$220 million in the Middle Eastern port, which will be used in part to build a new 400 metre berth extension onto the Aden Container Terminal.
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Genco Shipping & Trading Limited Takes Delivery of Supramax Vessel
Genco Shipping & Trading Limited yesterday announced that it has taken delivery of the Genco Cavalier, a 2007-built Supramax vessel.
The Genco Cavalier is the second vessel to be delivered to the Company under Genco's agreements previously announced on May 12, 2008 to acquire three drybulk vessels from Bocimar International N.V. and Delphis N.V. The Genco Cavalier is expected to be delivered to its charterer, Samsun Logix Corporation, on or about July 19, 2008, to commence a time charter for 24 to 26.5 months at a cash rate of $48,500 per day, less a 5% third party brokerage commission. The charter is due to expire between July 2010 and October 2010.Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Genco Shipping & Trading Limited currently owns a fleet of 30 drybulk vessels consisting of five Capesize, seven Panamax, four Supramax, six Handymax and eight Handysize vessels, with an aggregate carrying capacity of approximately 2,151,000 dwt. After the expected delivery of 11 vessels the Company has agreed to acquire, Genco Shipping & Trading Limited will own a fleet of 41 drybulk vessels, consisting of 12 Capesize, eight Panamax, four Supramax, six Handymax and 11 Handysize vessels, with an aggregate carrying capacity of approximately 3,516,000 dwt.
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The Genco Cavalier is the second vessel to be delivered to the Company under Genco's agreements previously announced on May 12, 2008 to acquire three drybulk vessels from Bocimar International N.V. and Delphis N.V. The Genco Cavalier is expected to be delivered to its charterer, Samsun Logix Corporation, on or about July 19, 2008, to commence a time charter for 24 to 26.5 months at a cash rate of $48,500 per day, less a 5% third party brokerage commission. The charter is due to expire between July 2010 and October 2010.Genco Shipping & Trading Limited transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes. Genco Shipping & Trading Limited currently owns a fleet of 30 drybulk vessels consisting of five Capesize, seven Panamax, four Supramax, six Handymax and eight Handysize vessels, with an aggregate carrying capacity of approximately 2,151,000 dwt. After the expected delivery of 11 vessels the Company has agreed to acquire, Genco Shipping & Trading Limited will own a fleet of 41 drybulk vessels, consisting of 12 Capesize, eight Panamax, four Supramax, six Handymax and 11 Handysize vessels, with an aggregate carrying capacity of approximately 3,516,000 dwt.
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