Russia's Admiralty Shipyard has started construction of a second enhanced ice-class tanker designed to ship oil from an Arctic oil field.
The St. Petersburg-based shipyard, Russia's oldest, is building two 70,000-deadweight enhanced ice-class tankers for Sovcomflot, Russia's largest shipping company. They are intended to ship oil from the Prirazlomnoye field, operated by Gazprom subsidiary Sevmorneftegaz. The Kirill Lavrov follows the first tanker Mikhail Ulyanov, which was moved from a dry dock to a wet dock for the final stages of construction work on October 31. Construction of the Mikhail Ulyanov started in 2007, and is to be completed in the summer of 2009.
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Tuesday, November 11, 2008
Wärtsilä acquires Vik-Sandvik
Wärtsilä has acquired the global ship design group Vik-Sandvik, an independent group providing design and engineering services to ship owners and the shipbuilding industry worldwide.
The value of the acquisition is $169.9m, with an additional maximum sum of $48.9m to be paid based on the performance of the business over the next three years. In 2007, Vik-Sandvik’s turnover was $70.8 millions and the profitability is on a very good level. The number of employees is 410. The role of ship design is becoming more and more important due to higher performance requirements, more sophisticated systems, and increased integration onboard most vessels. Also, the environmental and emission regulations regarding NOx and CO2 are becoming increasingly stringent. The acquisition is subject to relevant regulatory approvals, which are expected during the third quarter of 2008. Vik-Sandvik specializes in the design of high-end offshore vessels, as well as product and chemical tankers and more specialized vessels.
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The value of the acquisition is $169.9m, with an additional maximum sum of $48.9m to be paid based on the performance of the business over the next three years. In 2007, Vik-Sandvik’s turnover was $70.8 millions and the profitability is on a very good level. The number of employees is 410. The role of ship design is becoming more and more important due to higher performance requirements, more sophisticated systems, and increased integration onboard most vessels. Also, the environmental and emission regulations regarding NOx and CO2 are becoming increasingly stringent. The acquisition is subject to relevant regulatory approvals, which are expected during the third quarter of 2008. Vik-Sandvik specializes in the design of high-end offshore vessels, as well as product and chemical tankers and more specialized vessels.
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Nido makes second oil discovery in the Philippines
Australian company Nido Petroleum has discovered a 119-metre oil column at its Tindalo-1 wildcat on Permit SC54 in the Philippines.
The find has been confirmed by wireline logs and is located in the Northwest Palawan basin. Nido said that as good oil shows were found during drilling, it was possible that an additional 15 metres of oil would be found below the logged zone. Earlier this year, the Perth-based company found a 78 to 93-metre gross oil column which was drilled by Awilco’s jackup rig, ‘WilBoss’.
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The find has been confirmed by wireline logs and is located in the Northwest Palawan basin. Nido said that as good oil shows were found during drilling, it was possible that an additional 15 metres of oil would be found below the logged zone. Earlier this year, the Perth-based company found a 78 to 93-metre gross oil column which was drilled by Awilco’s jackup rig, ‘WilBoss’.
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Petrobras awards new flexible pipeline installation contract to Technip
Brazil: Petrobras has awarded a two year contract for engineering and support services to Technip.
The contract, for the charter of the ‘Normand Progress’ includes an additional two-year option. ‘Normand Progress, which specializes in flexible pipeline installation, is owned by Norway’s Solstad and Technip would operate the vessel under a frame agreement. The US$100 million contract will focus on the installation and retrieval of flexible pipelines off Brazil.
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The contract, for the charter of the ‘Normand Progress’ includes an additional two-year option. ‘Normand Progress, which specializes in flexible pipeline installation, is owned by Norway’s Solstad and Technip would operate the vessel under a frame agreement. The US$100 million contract will focus on the installation and retrieval of flexible pipelines off Brazil.
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DP World takes over two Algerian ports
Dubai's port operator DP World said that it has signed an agreement with the Algerian government to take over operations in the ports of Algiers and Djen-Djen, and committed 108 million dollars to develop the two facilities.
The 50-50 shareholding joint venture with the authorities of the two ports will give DP World a 30 year concession at each facility, which will be run by the Dubai operator, it said in a statement. "DP World has committed to an initial investment of 84 million euros (108 million dollars) over three to four years," said the world's fourth-largest container port operator. It will redevelop the main container terminal at Algiers to expand capacity to around 800,000 teu, with investments including new cranes, equipment and training, it said. Algiers port has a current capacity of around 500,000 teu. Expanding the new Djen-Djen port in eastern Algeria will take place "according to market demand," DP World said, pointing out the facility has the potential to handle mega-vessels and become a major trans-shipment hub for the region.
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The 50-50 shareholding joint venture with the authorities of the two ports will give DP World a 30 year concession at each facility, which will be run by the Dubai operator, it said in a statement. "DP World has committed to an initial investment of 84 million euros (108 million dollars) over three to four years," said the world's fourth-largest container port operator. It will redevelop the main container terminal at Algiers to expand capacity to around 800,000 teu, with investments including new cranes, equipment and training, it said. Algiers port has a current capacity of around 500,000 teu. Expanding the new Djen-Djen port in eastern Algeria will take place "according to market demand," DP World said, pointing out the facility has the potential to handle mega-vessels and become a major trans-shipment hub for the region.
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