The cargo handling port at Busan North Port in Korea is set to be transformed into one of the most beautiful ports in the world.
The Busan Port Authority has come up with concrete plans for Busan North Port Redevelopment and will host a groundbreaking ceremony next month to mark the start of the new project. The current zoning of the port is split between port area and downtown area and has caused traffic jams, air pollution, and other environment problems. This would all change when the old piers at Busan North Port are transformed into a picturesque waterfront area with Busan New Port about 25km away from the current situation of Busan North Port. The new area would, of course, include new state-of-the-art cargo handling facilities. The plans have been staggered in several developmental phases, with piers 3 and 4 being redeveloped first. This would be transformed into the new terminal zone. The BPA plans to develop Busan Port into a central hub for the maritime, tourism, and transportation industries.
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Saturday, October 11, 2008
Wärtsilä-Hyundai Engine Company inaugurates new factory
Seoul: Wärtsilä-Hyundai Engine Company, a 50/50 joint venture between Wärtsilä and Hyundai Heavy Industries (HHI), inaugurated its new factory in Korea last week.
The factory, which manufactures Wärtsilä 50DF dual-fuel engines for LNG carriers and other marine applications, has an optimal capacity 100-120 engines a year. Speaking at the inauguration event, Ole Johansson, president and CEO of Wärtsilä Corporation addressed the need for new LNG terminals to fulfill the growing demand for gas and LNG vessels. “The present LNG fleet of 260 vessels needs to increase to over 700 vessels by the year 2030. The introduction of new LNG terminals has experienced delays due, among other things, to the lack of availability of equipment and staff. One real alternative to land-based terminals lies in the development of offshore floating projects. Our joint-venture company has just recently received a major order for this type of project,” said Johansson.
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The factory, which manufactures Wärtsilä 50DF dual-fuel engines for LNG carriers and other marine applications, has an optimal capacity 100-120 engines a year. Speaking at the inauguration event, Ole Johansson, president and CEO of Wärtsilä Corporation addressed the need for new LNG terminals to fulfill the growing demand for gas and LNG vessels. “The present LNG fleet of 260 vessels needs to increase to over 700 vessels by the year 2030. The introduction of new LNG terminals has experienced delays due, among other things, to the lack of availability of equipment and staff. One real alternative to land-based terminals lies in the development of offshore floating projects. Our joint-venture company has just recently received a major order for this type of project,” said Johansson.
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NATO Sends Ships to Somali Coast
NATO joined international forces to protect vessels off Somalia's coast, sending military ships to the waters where pirates are negotiating the release of a tanker.
The pirates softened their ransom demands for the Ukrainian ship hijacked two weeks ago in a brazen high-seas attack. Pirates have seized more than two dozen ships off Somalia's coast this year but the MV Faina has drawn the most international concern because of its dangerous cargo — 33 tanks and other heavy weapons. NATO said a NATO naval group based in the Mediterranean Sea would sail to the Horn of Africa and stay until at least December.
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The pirates softened their ransom demands for the Ukrainian ship hijacked two weeks ago in a brazen high-seas attack. Pirates have seized more than two dozen ships off Somalia's coast this year but the MV Faina has drawn the most international concern because of its dangerous cargo — 33 tanks and other heavy weapons. NATO said a NATO naval group based in the Mediterranean Sea would sail to the Horn of Africa and stay until at least December.
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Brazil christens new rig as country aspires to revive shipbuilding industry
Brazilian President Luiz Inácio Lula da Silva of Brazil and First Lady Marisa Letícia Lula da Silva were at Keppel FELS Brasil’s BrasFELS shipyard to witness the christening of a new 48,000-tonne rig jointly built by Keppel Offshore & Marine and Technip Engenharia.
The P-51 floating production unit is owned by Petrobras Netherlands and is due for delivery next month. The first rig, the P-52 FPU, is currently producing in the Roncador field. Like the P-52, the P-51 also realizes the country’s aspiration to revive its shipbuilding industry and to become a net oil exporter. It will support Petrobras' offshore oil exploration and production activities, contributing significantly towards Brazil’s self-sufficiency in oil production. In addition to the P-51, the Keppel/Technip consortium is also building the P-56, which last month achieved the completion of the first block. Identical to the P-51, the P-56 will be the third FPU constructed by Keppel FELS Brazil and will help create and sustain employment in Angra dos Reis.
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The P-51 floating production unit is owned by Petrobras Netherlands and is due for delivery next month. The first rig, the P-52 FPU, is currently producing in the Roncador field. Like the P-52, the P-51 also realizes the country’s aspiration to revive its shipbuilding industry and to become a net oil exporter. It will support Petrobras' offshore oil exploration and production activities, contributing significantly towards Brazil’s self-sufficiency in oil production. In addition to the P-51, the Keppel/Technip consortium is also building the P-56, which last month achieved the completion of the first block. Identical to the P-51, the P-56 will be the third FPU constructed by Keppel FELS Brazil and will help create and sustain employment in Angra dos Reis.
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Calderon proposes Pemex autonomy
Mexican President Felipe Calderon is proposing to Congress giving autonomy to state oil monopoly Pemex to free the company from federal budget restrictions and give the government more money to spend next year.
The proposal was one of a number of measures that Calderon said the government is seeking to counter the negative effects on the economy of the global financial crisis. The plan comes as the government and Congress consider the impact lower growth will have on next year's budget. Calderon said effects such as lower growth and lower oil prices are likely to shave 28 billion pesos (US$2.34 billion) off next year's expected revenue, said a Dow Jones Newsiwire report. But rather than curb spending, Calderon said the government will seek to promote growth through investment in infrastructure. "Instead of being obliged to cut public spending, we can propose measures to stimulate investment and mitigate the negative impact of the international financial turbulence," he said in an address at the presidential residence. Among proposals for Pemex is the construction, beginning at once, of a new oil refinery using 12 billion pesos in funds in a Pemex stabilization fund. If the Congress approves autonomy for Pemex, and the state company is removed from the federal budget, it will be able to obtain its own financing without pushing the federal budget into deficit, Calderon said. That would give the federal government an additional 78 billion pesos to spend next year.
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The proposal was one of a number of measures that Calderon said the government is seeking to counter the negative effects on the economy of the global financial crisis. The plan comes as the government and Congress consider the impact lower growth will have on next year's budget. Calderon said effects such as lower growth and lower oil prices are likely to shave 28 billion pesos (US$2.34 billion) off next year's expected revenue, said a Dow Jones Newsiwire report. But rather than curb spending, Calderon said the government will seek to promote growth through investment in infrastructure. "Instead of being obliged to cut public spending, we can propose measures to stimulate investment and mitigate the negative impact of the international financial turbulence," he said in an address at the presidential residence. Among proposals for Pemex is the construction, beginning at once, of a new oil refinery using 12 billion pesos in funds in a Pemex stabilization fund. If the Congress approves autonomy for Pemex, and the state company is removed from the federal budget, it will be able to obtain its own financing without pushing the federal budget into deficit, Calderon said. That would give the federal government an additional 78 billion pesos to spend next year.
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