Gladding-Hearn Shipbuilding, USA, has completed construction of the first of three new sightseeing vessels for Circle Line Sightseeing Yachts, in New York City.
A staple of harbor cruises on the lower Hudson and East Rivers, Circle Line Sightseeing plans to replace three of its older vessels with the new ones. The company’s fleet of eight steel, 50-metre sightseeing boats consists of converted LCIs (Landing Craft Infantries) and Coast Guard cutters, built between 1930 and 1943. The new 600-passenger vessels were designed by Dejong and Lebet, and features a 10.4-metre beam and a 6.9-metre air draught, enabling the boat to pass under the low bridges on the Harlem River. With a top speed of 13 knots, the vessel is powered by twin Cummins KTA38-M1 diesels, delivering a total of 1,640kW and connected to ZF W3350 gear boxes, spinning five-bladed bronze Rolls Royce propellers. For dockside manoeuvring, the vessel is equipped with a 93kW Wesmar V2-20 bow thruster, powered by an electric motor. Two 137kW Cummins / Newage generators supply the ship’s service power. Additional features include port and starboard wing stations, in addition to the centre console, in the pilothouse.
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Thursday, October 2, 2008
Korean shipyards to receive financial assurance
Seoul: The Korea Export Insurance Corp has pledged $1.19bn to sustain exports from South Korean shipyards during the current global financial crisis.
According to the Asia Pulse, funds from the state-run export insurer are expected to allow Samsung Heavy Industries and STX to launch a total of six ships without worrying about orders being retracted because of financing problems. The vessels, four 160,000-ton liquefied natural gas carriers and two 13,000-ton container ships, have been ordered by MSC, NYK and Teekay. The move for monetary assurance comes at a time when local yards have voiced concerns about possible cancellations of vessels on their orderbooks - particularly when a number of high profile financial institutions (including Lehman Brothers) have become victims of the credit crunch.
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According to the Asia Pulse, funds from the state-run export insurer are expected to allow Samsung Heavy Industries and STX to launch a total of six ships without worrying about orders being retracted because of financing problems. The vessels, four 160,000-ton liquefied natural gas carriers and two 13,000-ton container ships, have been ordered by MSC, NYK and Teekay. The move for monetary assurance comes at a time when local yards have voiced concerns about possible cancellations of vessels on their orderbooks - particularly when a number of high profile financial institutions (including Lehman Brothers) have become victims of the credit crunch.
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Russian natural gas for South Korea
Moscow: Russia has reached agreement with South Korea to supply 10 billion cubic metres (BCM) of natural gas a year.
The deal will help Russia diversify gas exports away from Europe, which seeks to reduce its dependence on Russian energy. Under the preliminary agreement, signed on Monday on the sidelines of Korean President Lee Myung-bak’s visit to Moscow, a pipeline to South Korea will be laid via North Korea from gas fields on Sakhalin Island in Russia’s Far East. The pipeline will initially carry 10 BCM of gas a year, or about 20 per cent of South Korea’s annual consumption. The supplies will continue for 30 years starting in 2015. Russia has welcomed Korea’s plans to bid for Russian oil and gas assets and build petrochemical projects and LNG plants in the Russian Far East. India has long been advised to follow the same winning formula – offer investment and technology in exchange for access to Russian energy resources – but has failed to achieve any breakthroughs since winning a stake in the Sakhalin-1 oil and gas field seven years ago.
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The deal will help Russia diversify gas exports away from Europe, which seeks to reduce its dependence on Russian energy. Under the preliminary agreement, signed on Monday on the sidelines of Korean President Lee Myung-bak’s visit to Moscow, a pipeline to South Korea will be laid via North Korea from gas fields on Sakhalin Island in Russia’s Far East. The pipeline will initially carry 10 BCM of gas a year, or about 20 per cent of South Korea’s annual consumption. The supplies will continue for 30 years starting in 2015. Russia has welcomed Korea’s plans to bid for Russian oil and gas assets and build petrochemical projects and LNG plants in the Russian Far East. India has long been advised to follow the same winning formula – offer investment and technology in exchange for access to Russian energy resources – but has failed to achieve any breakthroughs since winning a stake in the Sakhalin-1 oil and gas field seven years ago.
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Another Santos Basin light oil find for Petrobras
Rio De Janeiro: Petrobras proved the presence of oil in well 1-BRSA-658-SPS (1-SPS-57) south of the Santos Basin in sandy reservoirs above the salt layer.
The discovery confirms the good light oil potential in the shallow water portion of the basin. The well is located in Block S-M-1289 of concession BM-S-40, in which Petrobras holds 100 percent interest. Diamond Offshore semi Ocean Yorktown drilled the well in a water depth of 900 feet (274 m) some 124 miles (200 km) off the coast of the state of São Paulo. The block is 5.8 miles (9.3 km) away from the discovery that was made by well 1-SPS-56 at the Tiro prospect, which was announced last May. The reservoirs that were discovered are of the sandy type and are located at a depth of approximately 6,759 feet (2,060 m), similar to those found recently by well 1-BRSA-607-SPS (1-SPS-56). Reservoir productivity will be assessed immediately by means of a lined well formation test. The dimensions of the discoveries made by these wells will only be defined after the assessment plan, which will be submitted to Brazil's National Petroleum Agency, as provided for in the BM-S-40 concession agreement.
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The discovery confirms the good light oil potential in the shallow water portion of the basin. The well is located in Block S-M-1289 of concession BM-S-40, in which Petrobras holds 100 percent interest. Diamond Offshore semi Ocean Yorktown drilled the well in a water depth of 900 feet (274 m) some 124 miles (200 km) off the coast of the state of São Paulo. The block is 5.8 miles (9.3 km) away from the discovery that was made by well 1-SPS-56 at the Tiro prospect, which was announced last May. The reservoirs that were discovered are of the sandy type and are located at a depth of approximately 6,759 feet (2,060 m), similar to those found recently by well 1-BRSA-607-SPS (1-SPS-56). Reservoir productivity will be assessed immediately by means of a lined well formation test. The dimensions of the discoveries made by these wells will only be defined after the assessment plan, which will be submitted to Brazil's National Petroleum Agency, as provided for in the BM-S-40 concession agreement.
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Ramunia whacked by industry cost pressures
Malaysian fabricator Ramunia posted net losses of 215.21 million ringgit ($62.2 million) for the third quarter ending in July as the group was hit by higher project overheads coupled with cost over-runs and losses.
Ramunia said it was also affected by disputed change orders and project bidding costs. This was a contrast from the 5.49 million ringgit net profit over the same period a year ago. Its revenue fell sharply to 81.32 million ringgit from 197.12 million a year ago. For the nine-month period, Ramunia posted a net loss of 208.43 million ringgit compared with net profit of 18.67 million ringgit in the previous corresponding period. Revenue fell to 271.68 million ringgit from 428.36 million rinngit due to the cancellation and delay of projects. Ramunia said the group would remain focused on the fabrication of offshore oil and gas related structures and other related works. It added emphasis would be placed on improving key internal processes and implementing cost rationalization programs to overcome the higher costs of production faced by the industry.
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Ramunia said it was also affected by disputed change orders and project bidding costs. This was a contrast from the 5.49 million ringgit net profit over the same period a year ago. Its revenue fell sharply to 81.32 million ringgit from 197.12 million a year ago. For the nine-month period, Ramunia posted a net loss of 208.43 million ringgit compared with net profit of 18.67 million ringgit in the previous corresponding period. Revenue fell to 271.68 million ringgit from 428.36 million rinngit due to the cancellation and delay of projects. Ramunia said the group would remain focused on the fabrication of offshore oil and gas related structures and other related works. It added emphasis would be placed on improving key internal processes and implementing cost rationalization programs to overcome the higher costs of production faced by the industry.
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