Global crude oil trade is set to grow by almost 180 million tonnes by 2012, driven mainly by growing demand from China. Strong demand in the Far East, abundant supplies of oil and falling crude prices have increased demand for oil tankers.
BP Shipping's regional chartering manager, David Grimshaw said that seaborne crude oil trade would increase from 1.715 billion tonnes in 2007 to 1.897bn tonnes by 2012. In terms of demand growth, he told IBC Asia's Energy Shipping Conference in Singapore, that the biggest drivers would be China and India. China will see 1.486 billion barrels per day of new refinery capacity coming onstream by 2012, driving a growth in long-haul crude imports from West Africa and the Middle East. While China is looking to take greater control of the entire crude oil supply chain, with its main shipping companies building up their VLCC fleets, this is still expected to leave at least 50 per cent of the market to international owners. For Japan, crude oil imports are set to decrease as the country generally becomes more fuel efficient. There will also be a growth in crude imports into India from the Middle East. Sumita Bose Roy, Executive Director, International Trade and Shipping for Bharat Petroleum Corp ,said that crude oil consumption in India was set to increase 141 million tonnes a year by 2012 compared 117 million tonnes in 2008. At the same time domestic production is set decline marginally from 41 million tonnes this year to 39 million tonnes in 2012, with the gap in demand met through imports primarily from the Middle East. Annual VLCC shipments are forecast to increase to 102 in 2012, compared to 76 this year. However, limited port infrastructure will see trade moving in Aframaxes and Suezmaxes. For US imports Grimshaw said shipments from Venezuela would decrease by 2012, partly for political reasons, being replaced by West Africa imports.
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Monday, September 8, 2008
ADSB and RR Set up Waterjet Support Service Center in Abu Dhabi
Abu Dhabi Ship Building and Rolls-Royce Marine Middle East announced an agreement to set up a Waterjet Center of Excellence in Abu Dhabi to provide support services to its customers in the Arabian Gulf Region.
ADSB is the only naval shipyard in the Middle East, providing both build and support services for all Gulf Co-operation Council (GCC) naval vessels. Rolls-Royce will work with ADSB to offer services such as training, maintenance, repairs and overhauls, spare parts and service contracts for waterjet customers. These services can also be offered to Commercial Ship Owners operating vessels that have waterjet propulsion. Rolls-Royce has already provided waterjets for 12 x 24m Ghannatha class boats and 4 x 26m Fast Supply vessels built by ADSB for the UAE Navy and UAE Coastguard. Rolls-Royce Waterjets also help power the six 72m Baynunah Class Corvettes that ADSB is currently building for the UAE Navy. ADSB has recently announced their intention to set up a new joint venture company in Abu Dhabi with BVT Surface Fleet Limited to offer regional customers the complete range of naval support services and this new co-operation with Rolls-Royce will further enhance the services to be offered.
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ADSB is the only naval shipyard in the Middle East, providing both build and support services for all Gulf Co-operation Council (GCC) naval vessels. Rolls-Royce will work with ADSB to offer services such as training, maintenance, repairs and overhauls, spare parts and service contracts for waterjet customers. These services can also be offered to Commercial Ship Owners operating vessels that have waterjet propulsion. Rolls-Royce has already provided waterjets for 12 x 24m Ghannatha class boats and 4 x 26m Fast Supply vessels built by ADSB for the UAE Navy and UAE Coastguard. Rolls-Royce Waterjets also help power the six 72m Baynunah Class Corvettes that ADSB is currently building for the UAE Navy. ADSB has recently announced their intention to set up a new joint venture company in Abu Dhabi with BVT Surface Fleet Limited to offer regional customers the complete range of naval support services and this new co-operation with Rolls-Royce will further enhance the services to be offered.
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Atlantica di Navigazione secures finance for cruise ferries
The European Investment Bank (EIB) and UniCredit Corporate Banking have signed a Eur 81 million (US$115.5 million) loan agreement with Italy’s Atlantica di Navigazione (Grimaldi Group) aimed at expanding its fleet for the motorways of the sea in the Mediterranean.
The loan will be advanced through UniCredit Corporate Banking as part of a total credit line of Eur 250 million (US$356.58 million) made available by the EIB to the Grimaldi Group. This credit line, with a term of 15 years, will be deployed to co-finance four cruise ferry vessels, ordered by Grimaldi from Fincantieri, with an approximate total value of Eur 600 million (US$855.78 million). The first tranche of Eur 81 million (US$115.53 million) will fund the acquisition of the ‘Cruise Barcelona’, which will begin serving the Civitavecchia–Barcelona route in mid-September 2008. The cruise ferry vessels built for Grimaldi are the largest freight / passenger ships ever used in the Mediterranean. They will be able to carry 2,140 passengers and 3,600 lane metres of vehicles (187 trailers and 215 cars).
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The loan will be advanced through UniCredit Corporate Banking as part of a total credit line of Eur 250 million (US$356.58 million) made available by the EIB to the Grimaldi Group. This credit line, with a term of 15 years, will be deployed to co-finance four cruise ferry vessels, ordered by Grimaldi from Fincantieri, with an approximate total value of Eur 600 million (US$855.78 million). The first tranche of Eur 81 million (US$115.53 million) will fund the acquisition of the ‘Cruise Barcelona’, which will begin serving the Civitavecchia–Barcelona route in mid-September 2008. The cruise ferry vessels built for Grimaldi are the largest freight / passenger ships ever used in the Mediterranean. They will be able to carry 2,140 passengers and 3,600 lane metres of vehicles (187 trailers and 215 cars).
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Sembcorp rolls out West Taurus
Norway’s Seadrill is gearing up for drilling off Brazil following the roll out of its latest deep-water semi-submersible West Taurus unit at Singapore rig builder Sembcorp Marine offshoot Jurong Shipyard.
The West Taurus is the second of a series of four semi-submersibles on order, following the delivery of the first, West Sirius in March. The third and fourth units are currently being built at the yard and are expected to be delivered in 2010 and 2011 respectively. The latest rig is scheduled for delivery in November and will be deployed for development drilling operations under a six-year deal with Brazil’s Petrobras. The Brazilian giant has also awarded a similar charter contract for Seadrill’s third unit being built. Sembcorp said that the completion of the West Taurus marks a landmark achievement for Jurong Shipyard as it is the first semi-submersible to be built using the yard’s proprietary “transverse skidding” methodology in combination with the “load-out and mating-in-dock” technique. These latest techniques allow the yard to deliver more than two semi-submersible rigs per year. The Friede & Gioldman Ex-D Millennium Class design can drill up to 37,500 feet in water depths of up to 10,000 feet, while it has 18,000 square feet of usable deck space and is able to carry a variable deck load of up to 8000 tons. “West Taurus will be an invaluable addition to our existing rig fleet and we are confident the yard will continue to deliver excellent results on the other two rigs we have entrusted them,” Seadrill’s president Alf Thorkildsen said.
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The West Taurus is the second of a series of four semi-submersibles on order, following the delivery of the first, West Sirius in March. The third and fourth units are currently being built at the yard and are expected to be delivered in 2010 and 2011 respectively. The latest rig is scheduled for delivery in November and will be deployed for development drilling operations under a six-year deal with Brazil’s Petrobras. The Brazilian giant has also awarded a similar charter contract for Seadrill’s third unit being built. Sembcorp said that the completion of the West Taurus marks a landmark achievement for Jurong Shipyard as it is the first semi-submersible to be built using the yard’s proprietary “transverse skidding” methodology in combination with the “load-out and mating-in-dock” technique. These latest techniques allow the yard to deliver more than two semi-submersible rigs per year. The Friede & Gioldman Ex-D Millennium Class design can drill up to 37,500 feet in water depths of up to 10,000 feet, while it has 18,000 square feet of usable deck space and is able to carry a variable deck load of up to 8000 tons. “West Taurus will be an invaluable addition to our existing rig fleet and we are confident the yard will continue to deliver excellent results on the other two rigs we have entrusted them,” Seadrill’s president Alf Thorkildsen said.
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CotaiJet collides with fishing vessel, one killed, three injured
A CotaiJet ferry sailing from Hong Kong to Taipa collided last week with a wooden fishing boat 7.5 nautical miles off Macau’s east near Zhuhai, killing one person and injuring three others.
‘The Venetian’ departed Hong Kong at 11am last Wednesday with 130 passengers and 13 crew but collided with a Chinese fishing boat ‘Yuet Taishan 33040’. The fishing boat was damanged and sank after the collision, and its three passengers fell into the sea. According to the Macau Daily, the 54-year old captain of the fishing boat was already in a coma when he was pulled from the water, and later died in the intensive care unit in the hospital. ‘The Venetian’ sustained only minor damage. Meanwhile, Cotai Chu Kong Shipping Management Services (CCKS) was requested to submit a report to the Maritime Administration to review current facilities to avoid such incidents in the future.
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‘The Venetian’ departed Hong Kong at 11am last Wednesday with 130 passengers and 13 crew but collided with a Chinese fishing boat ‘Yuet Taishan 33040’. The fishing boat was damanged and sank after the collision, and its three passengers fell into the sea. According to the Macau Daily, the 54-year old captain of the fishing boat was already in a coma when he was pulled from the water, and later died in the intensive care unit in the hospital. ‘The Venetian’ sustained only minor damage. Meanwhile, Cotai Chu Kong Shipping Management Services (CCKS) was requested to submit a report to the Maritime Administration to review current facilities to avoid such incidents in the future.
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Asian lines celebrate opening of Euromax Terminal in Rotterdam
Seoul: Hanjin Shipping and its container partners have announced the opening of the Euromax Terminal in Rotterdam, Netherlands that took place on September 5th, 2008.
The Euromax Terminal has been developed jointly by ECT (Europe Container Terminal) and the CKYH (Cosco Group, K-Line, Yang Ming Line and Hanjin Shipping) Alliance. The terminal is located in Maasvlakte-1 with 4 berths in Phase-1 and shall be expanded to Phase 4. A total of 2.3 million TEU can be handled in Phase-1 and the terminal will be able to handle 5.6 million TEU once Phase 4 is completed. Hanjin Shipping, with another European dedicated terminal in Antwerp introduced back in 2006, is studying the possibility of securing more dedicated terminals in a variety of logistics hubs such as in the Mediterranean, South East Asia, etc.
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The Euromax Terminal has been developed jointly by ECT (Europe Container Terminal) and the CKYH (Cosco Group, K-Line, Yang Ming Line and Hanjin Shipping) Alliance. The terminal is located in Maasvlakte-1 with 4 berths in Phase-1 and shall be expanded to Phase 4. A total of 2.3 million TEU can be handled in Phase-1 and the terminal will be able to handle 5.6 million TEU once Phase 4 is completed. Hanjin Shipping, with another European dedicated terminal in Antwerp introduced back in 2006, is studying the possibility of securing more dedicated terminals in a variety of logistics hubs such as in the Mediterranean, South East Asia, etc.
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