Germany’s Hamburg Süd is commencing a new service between the North American West Coast and Australia / New Zealand a variety of fast and direct connections between both continents.
The new services will come into effect immediately. The rotations deliver the trade's best transit times, for example the time between Melbourne and Long Beach could be shortened by two days. The new service will offer three slings deploying a total of thirteen container vessels. The Pacific North West String (PNW) will consist of four vessels with a slot capacity of 1,700TEU. With a fixed-day fortnightly frequency it has the following port rotation: Oakland – Seattle – Vancouver - Long Beach – Tauranga – Sydney – Melbourne - Adelaide – Auckland – Papeete – Ensenada - Oakland. The Pacific Southwest String (PSW-1) will consist of six 2,500TEU vessels. It is a fixed-day weekly service and makes direct port calls at: Oakland - Long Beach – Auckland – Melbourne – Sydney – Tauranga – Suva. The second Pacific Southwest String (PSW-2) will offer a non-stop service from Long Beach to Sydney and from Brisbane to Long Beach. Three vessels with a capacity of 1,300TEU each will be phased into the fixed-day fortnightly "Sydney Express" service. The new services offers a wide range of reliable intermodal connections to further origins and destinations via fast, accessible road and rail links as well as with the expanded Hamburg Süd network.
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Saturday, September 13, 2008
Beach set to sink two new Cooper wells
Beach Petroleum is set drill two new wells in licence PEL-106 in South Australia’s Cooper basin next month as part of an earlier farm-in agreement with Sydney-based junior Drillsearch Energy.
The wells will be the first wells to be drilled as a result of the information obtained from the extensive Spinel 3D seismic shoot carried out by Drillsearch offshoot Great Artesian last year and are directed at potential gas and condensate discoveries. Licence PEL-106 already holds a number of cased and suspended gas and condensate discoveries, including Middleton, Udacha, Paprika, Cadenza and Rossco. As part of the agreement, Beach will transfer the marketing of gas discoveries in the Beach farm-in block in PEL-106 and Middleton Block to Drillsearch. Beach will fully fund and drill two wells in the farm-in block, which is in the south-western quarter of PEL-106, and as a result, Beach will earn a 50% participating interest in the block. The two wells, Brownlow-1 and Canunda-1, will be drilled by the Ensign rig-30. Brownlow-1 will test a structural-stratigraphic trap updip to the Middleton gas discovery. Canunda-1 will test a separate four-way dip closure which lies updip to the Paprika gas discovery. Beach's drilling programme will also include the Gunyah-1 and Perlubie-1 wells in the highly prospective PEL-92 permit, where Beach holds a 75% stake and has consistently made a number of significant discoveries since 2002, including Sellicks, Parsons, Callawonga and Christies fields. Gunyah-1 and Perlubie-1 are targeting oil in the Namur sandstone, which reported flow rates on testing of more than 3000 barrels per day in the Parsons field. "The future potential of this western area continues to llok very positive, in our view. We have identified up to 100 prospects and leads using older 2D seismic surveys and these have now been followed up by large regional 3D seismic surveys," Beach's managing director Reg Nelson said in a statement today.
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The wells will be the first wells to be drilled as a result of the information obtained from the extensive Spinel 3D seismic shoot carried out by Drillsearch offshoot Great Artesian last year and are directed at potential gas and condensate discoveries. Licence PEL-106 already holds a number of cased and suspended gas and condensate discoveries, including Middleton, Udacha, Paprika, Cadenza and Rossco. As part of the agreement, Beach will transfer the marketing of gas discoveries in the Beach farm-in block in PEL-106 and Middleton Block to Drillsearch. Beach will fully fund and drill two wells in the farm-in block, which is in the south-western quarter of PEL-106, and as a result, Beach will earn a 50% participating interest in the block. The two wells, Brownlow-1 and Canunda-1, will be drilled by the Ensign rig-30. Brownlow-1 will test a structural-stratigraphic trap updip to the Middleton gas discovery. Canunda-1 will test a separate four-way dip closure which lies updip to the Paprika gas discovery. Beach's drilling programme will also include the Gunyah-1 and Perlubie-1 wells in the highly prospective PEL-92 permit, where Beach holds a 75% stake and has consistently made a number of significant discoveries since 2002, including Sellicks, Parsons, Callawonga and Christies fields. Gunyah-1 and Perlubie-1 are targeting oil in the Namur sandstone, which reported flow rates on testing of more than 3000 barrels per day in the Parsons field. "The future potential of this western area continues to llok very positive, in our view. We have identified up to 100 prospects and leads using older 2D seismic surveys and these have now been followed up by large regional 3D seismic surveys," Beach's managing director Reg Nelson said in a statement today.
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Iron ore freight rates may extend losses
Freight rates on capesize dry cargo look set to extend recent sharp losses as more than a 10th of Australia's iron ore output remains shut in, adding to a spot market already hurt by weak demand, shippers said recently.
BHP Billiton said yesterday it had yet to set a date to restart its giant Yandi iron ore mine in Australia, which produces about 40 million tonnes out of exports that ran at 325 million tonnes last year. Bulk rates on the route from Western Australia to China fell 7.5 per cent to close at 19,227 points on Friday, having tumbled almost 30 per cent so far this month. The market capesize freight rate between the two countries fell to US$19.23 per tonne on Friday, down from US$26.46 per tonne at the start of the month, a shipper said. 'In the short-term that will limit cargo supply. The market is down and it's been quite a slow period for charter activity,' said Peter Norfolk, director of shipbrokers Simpson, Spence and Young. 'For the time being, things look pretty quiet.' Some analysts had expected Yandi to restart yesterday, as mine safety closures related to fatalities normally last only about one day. The Yandi mine, 500km from the western coast of Australia, accounts for roughly 10 per cent of the globally traded market. The outage comes at a time when demand from Chinese mills is already soft in the face of weaker domestic steel markets. Top Chinese mills have already cut steel prices, and many smaller ones were shut due to Olympics restrictions and rising costs.
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BHP Billiton said yesterday it had yet to set a date to restart its giant Yandi iron ore mine in Australia, which produces about 40 million tonnes out of exports that ran at 325 million tonnes last year. Bulk rates on the route from Western Australia to China fell 7.5 per cent to close at 19,227 points on Friday, having tumbled almost 30 per cent so far this month. The market capesize freight rate between the two countries fell to US$19.23 per tonne on Friday, down from US$26.46 per tonne at the start of the month, a shipper said. 'In the short-term that will limit cargo supply. The market is down and it's been quite a slow period for charter activity,' said Peter Norfolk, director of shipbrokers Simpson, Spence and Young. 'For the time being, things look pretty quiet.' Some analysts had expected Yandi to restart yesterday, as mine safety closures related to fatalities normally last only about one day. The Yandi mine, 500km from the western coast of Australia, accounts for roughly 10 per cent of the globally traded market. The outage comes at a time when demand from Chinese mills is already soft in the face of weaker domestic steel markets. Top Chinese mills have already cut steel prices, and many smaller ones were shut due to Olympics restrictions and rising costs.
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Mozambique issues two offshore blocks to Petronas
MAPUTO, MOZAMBIQUE: Mozambique has issued a US$40.6 million oil prospect license to a joint venture led by Malaysian company Petronas.
The license for two offshore blocks was issued under the country's second licensing round. Government spokesman Luis Covane told Reuters: "The government today issued an oil license to Petronas Carigali Mozambique to search for oil in block 3 and 6. The license is valid for eight years and could be renewed for a further 30 years, if oil is found." Petronas holds a 90 percent stake in the company, with 10 percent held by Empresa Nacional de Hidrocarbonetos de Mocambique (ENH), Mozambique's national hydrocarbons company.The two blocks are in the Rovuma Basin, near the border between Mozambique and Tanzania. The Rovuma Basin lies both onshore and offshore, in an area 400 kilometers by 160 kilometers (250 miles by 100 miles). The offshore area of the basin includes with Ibo High horst trend, which has multiple reservoir objectives. Water depths range from 550 meters to 770 meters (1,804 ft to 2,526 ft).
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The license for two offshore blocks was issued under the country's second licensing round. Government spokesman Luis Covane told Reuters: "The government today issued an oil license to Petronas Carigali Mozambique to search for oil in block 3 and 6. The license is valid for eight years and could be renewed for a further 30 years, if oil is found." Petronas holds a 90 percent stake in the company, with 10 percent held by Empresa Nacional de Hidrocarbonetos de Mocambique (ENH), Mozambique's national hydrocarbons company.The two blocks are in the Rovuma Basin, near the border between Mozambique and Tanzania. The Rovuma Basin lies both onshore and offshore, in an area 400 kilometers by 160 kilometers (250 miles by 100 miles). The offshore area of the basin includes with Ibo High horst trend, which has multiple reservoir objectives. Water depths range from 550 meters to 770 meters (1,804 ft to 2,526 ft).
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OOCL establishes office in Poland
Hong Kong-based OOCL is establishing a new office in Poland.
As of October 1, 2008, OOCL (Poland) Limited will be basedin Gdynia with the aim of developing business in the country. The Country Manager for OOCL in Poland will be Leszek Walkusz. “Setting up an OOCL office in Poland is consistent with our global policy of having own offices in our key markets which ensures our customers fully benefit from our sophisticated in-house integrated systems,” said Henry Wong, Managing Director OOCL (Europe) Limited.
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As of October 1, 2008, OOCL (Poland) Limited will be basedin Gdynia with the aim of developing business in the country. The Country Manager for OOCL in Poland will be Leszek Walkusz. “Setting up an OOCL office in Poland is consistent with our global policy of having own offices in our key markets which ensures our customers fully benefit from our sophisticated in-house integrated systems,” said Henry Wong, Managing Director OOCL (Europe) Limited.
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