Norway-based Aker Yards and P&O Ferries, UK, have signed a contract for building two large car-passenger ferries for the Dover-Calais service.
The total contract price for both vessels is approximately Eur 360 million (US$540.2 million). The vessels are scheduled for delivery in 2010 and 2011 respectively.The contract includes options on a further two vessels of the same design. The vessels will be built in Aker Yards, Rauma, creating some 1,800 manyears of work. Becoming the largest ferry in the English Channel means a 49,000GT vessel with the length of 210 metres and having 2,700 lane metres of vehicle space. There will be space for more than 180 freight vehicles and additionally for up to 195 tourist vehicles. The vessels will be capable of carrying up to 2,000 passengers. The ferries will be as environmentally friendly as possible, offering significant advances in fuel efficiency through a hydro-dynamically efficient hull form that will optimise vessel performance with minimum fuel consumption.
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Tuesday, August 12, 2008
Coast Guard vessel to map US’s Arctic shelf
A US Coast Guard cutter will embark on an Arctic voyage this week to determine the extent of the continental shelf north of Alaska and map the ocean floor, data that could be used for oil and natural gas exploration.
US scientists on the Coast Guard Cutter Healy will leave Barrow, Alaska, on Thursday on a three-week journey. They will create a three-dimensional map of the Arctic Ocean floor in a relatively unexplored area known as the Chukchi borderland. The Healy will launch again on 6 Sept. 6, when it will be joined by Canadian scientists aboard an icebreaker, who will help collect data to determine the thickness of sediment in the region. That is one factor a country can use to define its extended continental shelf. With oil at $114 a barrel, after hitting a record $147 in July, and sea ice melting fast, countries like Russia and the US are looking north for possible energy riches, Reuters reported. This will be the fourth year that the United States has collected data to define the limits of its continental shelf in the Arctic. Russia, which has claimed 460,000 square miles (1.19 million square kilometres) of Arctic waters and last summer planted its flag on the ocean floor of the North Pole. "These are places nobody's gone before, in essence, so this is a first step," said Margaret Hays, the director of the oceanic affairs office at the US State Department. She said the data collected may provide information to the public about future oil and natural gas sources for the US. The research could also shed light on other potential energy resources, like methane frozen in ice under the ocean, that Hays said might one day have some commercial interest.
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US scientists on the Coast Guard Cutter Healy will leave Barrow, Alaska, on Thursday on a three-week journey. They will create a three-dimensional map of the Arctic Ocean floor in a relatively unexplored area known as the Chukchi borderland. The Healy will launch again on 6 Sept. 6, when it will be joined by Canadian scientists aboard an icebreaker, who will help collect data to determine the thickness of sediment in the region. That is one factor a country can use to define its extended continental shelf. With oil at $114 a barrel, after hitting a record $147 in July, and sea ice melting fast, countries like Russia and the US are looking north for possible energy riches, Reuters reported. This will be the fourth year that the United States has collected data to define the limits of its continental shelf in the Arctic. Russia, which has claimed 460,000 square miles (1.19 million square kilometres) of Arctic waters and last summer planted its flag on the ocean floor of the North Pole. "These are places nobody's gone before, in essence, so this is a first step," said Margaret Hays, the director of the oceanic affairs office at the US State Department. She said the data collected may provide information to the public about future oil and natural gas sources for the US. The research could also shed light on other potential energy resources, like methane frozen in ice under the ocean, that Hays said might one day have some commercial interest.
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TBS International Limited Takes Delivery of Handymax, M.V. Tupi Maiden
TBS International Limited announced today that it has taken delivery of the M.V. Tupi Maiden, formerly known as the M.V. Ken Blossom, an acquisition it announced in June 2008.
The M.V. Tupi Maiden is a 1992 built, 38,852 dwt handymax bulk carrier that the Company agreed to acquire charter free for $44.0 million. With this delivery, TBS' current fleet consists of 45 multipurpose tweendecker, handymax and handysize vessels. TBS expects to take delivery of one more handymax bulk carrier (M.V. Fox Maiden) by the end of Q3 2008. Once this delivery is concluded, TBS' fleet will be comprised of 46 vessels with an aggregate of 1,390,473 dwt, consisting of 23 tweendeckers and 23 handymax/ handysize bulk carriers. Joseph E. Royce, Chairman, Chief Executive Officer and President, stated: "We are pleased to have taken delivery of M.V. Tupi Maiden, which increases our operating fleet to 45 vessels. This delivery further enhances our ability to generate revenues and stable cash flows while implementing our strategy of growing our fleet in response to the growth of our business." TBS is an ocean transportation services company that offers worldwide shipping solutions through liner, parcel and bulk services, and vessel chartering. TBS has developed its business around key trade routes between Latin America and China, Japan and South Korea, as well as select ports in North America, Africa, the Caribbean and the Mediterranean. TBS provides frequent regularly scheduled voyages in its network, as well as cargo scheduling, loading and discharge for its customers.
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The M.V. Tupi Maiden is a 1992 built, 38,852 dwt handymax bulk carrier that the Company agreed to acquire charter free for $44.0 million. With this delivery, TBS' current fleet consists of 45 multipurpose tweendecker, handymax and handysize vessels. TBS expects to take delivery of one more handymax bulk carrier (M.V. Fox Maiden) by the end of Q3 2008. Once this delivery is concluded, TBS' fleet will be comprised of 46 vessels with an aggregate of 1,390,473 dwt, consisting of 23 tweendeckers and 23 handymax/ handysize bulk carriers. Joseph E. Royce, Chairman, Chief Executive Officer and President, stated: "We are pleased to have taken delivery of M.V. Tupi Maiden, which increases our operating fleet to 45 vessels. This delivery further enhances our ability to generate revenues and stable cash flows while implementing our strategy of growing our fleet in response to the growth of our business." TBS is an ocean transportation services company that offers worldwide shipping solutions through liner, parcel and bulk services, and vessel chartering. TBS has developed its business around key trade routes between Latin America and China, Japan and South Korea, as well as select ports in North America, Africa, the Caribbean and the Mediterranean. TBS provides frequent regularly scheduled voyages in its network, as well as cargo scheduling, loading and discharge for its customers.
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Bulletproof florint boosts MOL
Hungarian oil and gas company MOL more than quadrupled its net income in the second quarter largely due to foreign exchange gains on its debts and strong downstream and upstream performance.
MOL said yesterday that its reported net income was 114.7 billion forints ($729.1 million) for the quarter, 326% higher than a profit of 26.9 billion forints reported in the second quarter of 2007. It came in above analysts' forecast for a net profit of 107.65 billion forints in a Reuter's poll last week. MOL's operating profit dropped 3% to 89.1 billion forints from a revised 91.5 billion forints, but also topped analysts' expectations for 83.15 billion forints. "Both upstream and downstream businesses reported strong growth in operating profits, while the petrochemical segment suffered from extremely weak integrated petrochemical margins," MOL said in a statement. MOL posted a net financial gain of 37.55 billion forints in the second quarter compared with a loss of 34.8 billion forints a year ago as it had large unrealised foreign exchange gains on its foreign currency denominated debts due to the forint's appreciation versus the euro and the dollar. Exploration and production operating profit rose 30% year-on-year to 30.6 billion forints due to high crude prices, despite a weak dollar and lower production volumes. Refining and marketing operating profit rose by 18% to 69 billion forints due to sales volumes and a rise in diesel crack spreads, which worked in MOL's favour as MOL's product slate is geared towards diesel. MOL, which has a 25% stake in Croatia's INA , has said it would bid for INA shares not held by the Croatian government and is expected to give details of its bid by 14 August.
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MOL said yesterday that its reported net income was 114.7 billion forints ($729.1 million) for the quarter, 326% higher than a profit of 26.9 billion forints reported in the second quarter of 2007. It came in above analysts' forecast for a net profit of 107.65 billion forints in a Reuter's poll last week. MOL's operating profit dropped 3% to 89.1 billion forints from a revised 91.5 billion forints, but also topped analysts' expectations for 83.15 billion forints. "Both upstream and downstream businesses reported strong growth in operating profits, while the petrochemical segment suffered from extremely weak integrated petrochemical margins," MOL said in a statement. MOL posted a net financial gain of 37.55 billion forints in the second quarter compared with a loss of 34.8 billion forints a year ago as it had large unrealised foreign exchange gains on its foreign currency denominated debts due to the forint's appreciation versus the euro and the dollar. Exploration and production operating profit rose 30% year-on-year to 30.6 billion forints due to high crude prices, despite a weak dollar and lower production volumes. Refining and marketing operating profit rose by 18% to 69 billion forints due to sales volumes and a rise in diesel crack spreads, which worked in MOL's favour as MOL's product slate is geared towards diesel. MOL, which has a 25% stake in Croatia's INA , has said it would bid for INA shares not held by the Croatian government and is expected to give details of its bid by 14 August.
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Caspian Services Takes Delivery of Demaree Inflatable Boats
Demaree Inflatable Boats Inc. (DIB) has delivered two 41-ft. river freighters to Caspian Services, Inc, a company that provides a broad range of services to the oil and gas industries in the Republic of Kazakhstan.
The boats will be used for oil and gas exploration in shallow water areas of the Caspian Sea. The river freighter is 41-ft. long and 14-ft. wide, with each pontoon made of highly durable, vulcanized neoprene, with heavy reinforcing strips to help with fendering. The 35.5 ft. long, diamond plate 5086 aluminum deck consists of five sections that bolt together to provide a secure working platform. The frames are also designed to come apart and nest one inside another for easy transportation and storage. Each boat is powered by twin Yanmar Bravo II diesel engines, which are rated at 315 hp each. The boat has a dry weight with engines of 10,000 lbs, and a design working load of 17,000 lbs. In addition to the boats in Kazakhstan, DIB has its 32 ft. and 41 ft. river freighters being used by various geophysical companies and government organizations off the waters of Australia, Bangladesh, Brazil, British Columbia, Egypt, Indonesia, Malta, Mexico, Uganda, and the U.S.A.
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The boats will be used for oil and gas exploration in shallow water areas of the Caspian Sea. The river freighter is 41-ft. long and 14-ft. wide, with each pontoon made of highly durable, vulcanized neoprene, with heavy reinforcing strips to help with fendering. The 35.5 ft. long, diamond plate 5086 aluminum deck consists of five sections that bolt together to provide a secure working platform. The frames are also designed to come apart and nest one inside another for easy transportation and storage. Each boat is powered by twin Yanmar Bravo II diesel engines, which are rated at 315 hp each. The boat has a dry weight with engines of 10,000 lbs, and a design working load of 17,000 lbs. In addition to the boats in Kazakhstan, DIB has its 32 ft. and 41 ft. river freighters being used by various geophysical companies and government organizations off the waters of Australia, Bangladesh, Brazil, British Columbia, Egypt, Indonesia, Malta, Mexico, Uganda, and the U.S.A.
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CPC Taichung LNG terminal start-up delayed to September
Taipei: Taiwan's sole liquefied natural gas importer, CPC Corporation has revealed that it is to delay the start-up of its new Taichung LNG terminal for the second time, reports Bloomberg.
The state-run oil refiner will postpone the start-up of the terminal to end-September from July, and cover any LNG shortfall caused by this with cargoes arriving at Yongan port, Vice President C.S. Lin said by phone in Taipei yesterday. The Taichung LNG terminal, designed to process 3m metric tons of the fuel a year, was originally scheduled to start commercial operations in January. The project fell behind schedule as winds and waves slowed the construction of an undersea pipeline that is to transport gas from the terminal to the 4,384-megawatt Tatan power plant. "It's difficult as winds and waves are huge in the north," Lin said. Natural gas demand is expected to rise to 9.5m tons this year from 8.3m tons in 2007, and may reach 16m tons in 2020, CPC chairman Wenent Pan said in February. The capacity of Yongan, the island's only LNG port, can be expanded to 10m tons, Lin said in December last year.
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The state-run oil refiner will postpone the start-up of the terminal to end-September from July, and cover any LNG shortfall caused by this with cargoes arriving at Yongan port, Vice President C.S. Lin said by phone in Taipei yesterday. The Taichung LNG terminal, designed to process 3m metric tons of the fuel a year, was originally scheduled to start commercial operations in January. The project fell behind schedule as winds and waves slowed the construction of an undersea pipeline that is to transport gas from the terminal to the 4,384-megawatt Tatan power plant. "It's difficult as winds and waves are huge in the north," Lin said. Natural gas demand is expected to rise to 9.5m tons this year from 8.3m tons in 2007, and may reach 16m tons in 2020, CPC chairman Wenent Pan said in February. The capacity of Yongan, the island's only LNG port, can be expanded to 10m tons, Lin said in December last year.
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