‘Azura’ is a sistership of the ‘Ventura’ which was delivered last year at the same yard. ‘Azura’ will commence operations in the northern spring next year. Present at the launch ceremony were, on behalf of the shipowner, David Dingle, CEO of Carnival UK and Nigel Esdale, Managing Director of P&O Cruises, while Fincantieri was represented by Paolo Capobianco, Director of Monfalcone shipyard. Godmother to the ship was Amanda Dowds, wife of Captain Keith Dowds who will command the new vessel. Weighing in at a gross tonnage of 116,000 tonnes, and at 290 metres long, with 2,180 cabins for 3,118 guests and 1,265 crew, the ‘Azura’ is a masterpiece of Italian style, a perfect mix of high technology, elegance and exclusive services.
Tuesday, June 30, 2009
‘Azura’ launched at Fincantieri Monfalcone
Italy: The Fincantieri Monfalcone shipyard launched a new P&O cruise ship for the Carnival Group on June 26.
‘Azura’ is a sistership of the ‘Ventura’ which was delivered last year at the same yard. ‘Azura’ will commence operations in the northern spring next year. Present at the launch ceremony were, on behalf of the shipowner, David Dingle, CEO of Carnival UK and Nigel Esdale, Managing Director of P&O Cruises, while Fincantieri was represented by Paolo Capobianco, Director of Monfalcone shipyard. Godmother to the ship was Amanda Dowds, wife of Captain Keith Dowds who will command the new vessel. Weighing in at a gross tonnage of 116,000 tonnes, and at 290 metres long, with 2,180 cabins for 3,118 guests and 1,265 crew, the ‘Azura’ is a masterpiece of Italian style, a perfect mix of high technology, elegance and exclusive services.Read More
‘Azura’ is a sistership of the ‘Ventura’ which was delivered last year at the same yard. ‘Azura’ will commence operations in the northern spring next year. Present at the launch ceremony were, on behalf of the shipowner, David Dingle, CEO of Carnival UK and Nigel Esdale, Managing Director of P&O Cruises, while Fincantieri was represented by Paolo Capobianco, Director of Monfalcone shipyard. Godmother to the ship was Amanda Dowds, wife of Captain Keith Dowds who will command the new vessel. Weighing in at a gross tonnage of 116,000 tonnes, and at 290 metres long, with 2,180 cabins for 3,118 guests and 1,265 crew, the ‘Azura’ is a masterpiece of Italian style, a perfect mix of high technology, elegance and exclusive services.
Maersk looks to boost intra-Asia volumes six fold
Hong Kong: AP Moller-Maersk wants to expand its share of the intra-Asia container trades six-fold, ScandAsia reported.
Expansion plans for this region through Singapore-based feeder subsidiary Mercantile Cargo Consolidators Transport were outlined a year ago, with AP Moller-Maersk keen to fully exploit a sector in which it has had only a peripheral interest until now. Current market share is put at around 2%, whereas Maersk Line’s share of the inter-continental trades is between12% and 15%. That is the target for MCC Transport, according to chief executive Tim Wickmann.
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‘Manannan’ participates in Manx TT Race
The Isle of Man Steam Packet Company’s latest Incat fast ferry has completed her first Manx TT Race period, ferrying thousands of passengers and their bikes to and from the island during race festival.
During the TT period, the Steam Packet Company carried over 9,900 motorcycles, 4,000 cars/vans and 30,000 passengers, in each direction with its two fast craft and conventional ferry. Allocated to the busy Douglas to Liverpool service, the ‘Manannan’ is the largest diesel-powered high speed craft on the Irish Sea with greater cruising speed and increased vehicle and passenger capacity than the vessel she replaces. The 96-metre wave piercing catamaran was built by Incat in Tasmania, Australia, in 1998 as the ‘Incat 050’. Purchased by the Manx company in May 2008, the vessel sailed from Tasmania bound for Portsmouth, England, in June 2008 to commence an extensive refit project.
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Pride names four new drillships
HOUSTON: Pride International Inc. (NYSE: PDE) has named the four new ultra-deepwater drillships it has under construction.
Pride is naming the drillships after major subsea features that occur in some of the deepest areas of the ocean. Deep Ocean Ascension, formerly PS1, is expected to be delivered in the first quarter of 2010. Deep Ocean Clarion, formerly PS2, is expected for delivery in the third quarter of 2010. Deep Ocean Mendocino, formerly PS3, is expected for delivery in the first quarter of 2011. Deep Ocean Molokai, formerly PS4, is expected for delivery in the fourth quarter of 2011. The drillships, capable of operating in water depths of up to 12,000 feet (3,658 m), are being built at Samsung Heavy Industries shipyard in Geoje, South Korea.
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Shippers, insurers fear Somali piracy may escalate
Pirate attacks on vessels sailing off Somalia could get worse, pushing up insurance and shipping costs and possibly forcing companies to use longer sea routes, industry officials say.
Piracy has flourished in recent months off the busy Gulf of Aden and Indian Ocean shipping lanes and seaborne gangs have seized several cargo ships and collected tens of millions of dollars in ransom for the safe release of crews and cargoes. Last week the Group of Eight powers said it was "seriously concerned" about the increasing threat. "(The) piracy risk is likely to get worse before it gets better," said a report this month commissioned by Lloyd's of London [LOL.UL], the specialist insurance market. While foreign navies have been deployed off Somalia since the turn of the year to try to prevent attacks, those forces have found themselves stretched given the vast expanses of water involved leaving vessels vulnerable to attack. "It's quite difficult to find vessels that will go through the Gulf of Aden these days," said a London-based shipbroker. Marine insurance brokers said insurers were charging between 0.05 percent to 0.175 percent of the value of a ship per voyage in the Gulf of Aden versus zero to 0.05 percent in May 2008. "Rates and charges may well escalate if the number of successful piracy attacks increases," said Paul Newton, head of hull and yacht underwriting in Britain with insurer Allianz Global Corporate & Speciality.
Monday, June 29, 2009
ACMA Monitors First Dry Dock of TxDOT Ferry
Alan C. McClure Associates (ACMA), a naval architecture and engineering firm, announced that the first dry dock for a ferry being built for the Texas Department of Transportation (TxDOT) has been completed at Conrad Deepwater in Amelia, Louisiana.
ACMA and Schuller & Allen provided engineering and design for the new 264-ft vessel, and ACMA is now providing owner’s representation during the construction period until vessel delivery. ACMA Vice President Darrel Harvey said “The ferry’s first dry dock went very smoothly. The vessel received her new propeller shafts, propellers and rudders, along with a fresh coat of bottom paint. Now she’ll be given the final top side colors that she’ll proudly wear during her tour of duty.
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Dockwise reduces debt by US$58 million
Hamilton, Bermuda: Dockwise expects to reduce its debt by a total of US$58 million to just below US$963 million by the end of the second quarter of 2009.
Following its 18-month refurbishment, ‘Mighty Servant 3’ will shortly rejoin the fleet of Dockwise Transport. ‘Mighty Servant 3’ will bring Dockwise's total fleet to 20 semi submersible vessels. Delivery of the vessel triggers the release of the remaining US$40.6 million currently held in escrow to cover the costs of reinstatement and vendor compensation, Dockwise said. Also, settlement of the previously announced debt buy back is scheduled for June 30, 2009. This will reduce the group’s debt by some US$8.5 million.
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Bharati Shipyard takes on ABG for Great Offshore stake
Mumbai: Leading Indian Shipbuilder Bharati Shipyard is looking to top a counter bid by rival ABG Shipyard Limited for a controlling stake in offshore services firm Great Offshore, raising prospects of a price war, reports news site Zeenews.
PC Kapoor MD of Bharati Shipyard said "We will be making another revised offer, the timing will be a few days hence and what the price will be I cannot say right now." Kapoor said Bharati has invested Rs 2.45bn till now to acquire about 19.5% in Great Offshore, while ABG Shipyard holds a mere 2%. However, he hinted that total investment in Great Offshore could top Rs 4bn and added that Bharati has substantial support from some major shareholders of Great Offshore, including the Sheth family, the original founders of the company. ABG Shipyard made an open offer to acquire over 32% in Great Offshore at Rs 375 a share, countering Bharati's Rs 344 a share bid made earlier this month.
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Rowan to Recommence Construction of Joe Douglas Jackup
Rowan will recommence construction of the third 240C class jackup rig, the Joe Douglas, at its Vicksburg, Mississippi shipyard, with delivery expected in the third quarter 2011.
Matt Ralls, Rowan's President and Chief Executive Officer, commented, "Earlier this year we halted construction on this rig due to concerns over the turmoil in the credit markets and the downturn in jackup drilling markets. Based on improvements in the credit markets and our confidence in our liquidity outlook through 2010, we have elected to resume construction. We believe that this very capable, high specification rig will generate an attractive return on capital based on its expected go forward cost of $150 million and will be met with widespread customer acceptance when it is delivered in 2011."The Company began construction of the initial 240C class rig, the Rowan Mississippi, in 2007. The 240C was designed to be a significant upgrade of the original 116-C class, which was the "workhorse" of the global drilling industry since its introduction in the late 1970s. The Joe Douglas, like its sister rigs the Rowan Mississippi and the Ralph Coffman, will have 2.5 million pounds of hookload, an 80 feet cantilever reach and 491 feet of leg length.Read More
Matt Ralls, Rowan's President and Chief Executive Officer, commented, "Earlier this year we halted construction on this rig due to concerns over the turmoil in the credit markets and the downturn in jackup drilling markets. Based on improvements in the credit markets and our confidence in our liquidity outlook through 2010, we have elected to resume construction. We believe that this very capable, high specification rig will generate an attractive return on capital based on its expected go forward cost of $150 million and will be met with widespread customer acceptance when it is delivered in 2011."The Company began construction of the initial 240C class rig, the Rowan Mississippi, in 2007. The 240C was designed to be a significant upgrade of the original 116-C class, which was the "workhorse" of the global drilling industry since its introduction in the late 1970s. The Joe Douglas, like its sister rigs the Rowan Mississippi and the Ralph Coffman, will have 2.5 million pounds of hookload, an 80 feet cantilever reach and 491 feet of leg length.
China shipbuilding industry keeps growing
Although many analysts keep doubting about whether aggressive Chinese shipbuilders will manage to produce the larger part of the new building orders, mainly of dry bulk carriers, placed during the past couple of years, one thing seems almost certain; that, China will account for almost 40% of the global shipbuilding capacity by the end of 2010 with an accumulative production base of 52 million dwt on an annual basis.
In fact China will move one step further to reach the top of the world’s shipbuilding capacity by 2012. These are some of the figures contained in a comprehensive new report on the Chinese shipbuilding industry, compiled by DC Marine Supply. In whole, Japan, Korea and China now account for 82% of the global shipbuilding activity, but China appears to be the latest “trend” thanks to low labor costs. As shipbrokers in Hellas have indicated, a significant part of this expansion of Chinese shipbuilders has been fuelled by Hellenic shipping companies, which also financed Japan’s and South Korea’s shipyards in the previous decades. China’s biggest shipbuilding base can be found in Shanghai where almost 12 million dwt can be produced annually, with Zhejiang following at second place with 8 million dwt, while third place is occupied by the province of Jiangsu with 7 million dwt. But, as the actual figures already surpass those on paper, Jiangsu province actually completed 8.89 million dwt in 2008 and is on the way to have an actual capacity of 26.5 million dwt by 2010.
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Sunday, June 28, 2009
Maersk Group cuts down on ship investments
The A P Møller-Mærsk Group will downsize its investments in ships in the future. Instead, the company will take more ships on time charter when it is necessary to increase the capacity.
“In the present market, our investments will generate more profit in other areas”, explains Nils Smedegaard Andersen, CEO of A P Møller-Mærsk, in an interview in Berlingske Nyhedsmagasin.Over the last couple of years, the group has invested USD 11.2 billion in new ships and other projects. In the future, the oil business and the terminal business will be the main targets for investments as they have great potential. Currently, A P Møller-Mærsk has 70 container carriers on order with a capacity of 365,338 TEUs or equal to 17.9 per cent of the active fleet.
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Shipwreck Science Program Begins
Fifteen talented Erie area high school students in the Minority College Experience / Women in Science and Engineering (MCE/WISE) program through Penn State Erie, participated in the Bayfront Center for Maritime Studies' (BCMS) first expedition of the Shipwreck Science Program on June 12, 2009.
BCMS is an eleven year old non-profit community based organization in Erie, Pennsylvania that uses hands-on projects including sailing, boatbuilding, navigation and environmental science to teach and reinforce traditional subjects. The students learned not only about some of the shipwrecks in our local waters, but also about navigation, boat handling, history and technology. Using sophisticated engineering equipment including a Side Scan Sonar and an Underwater Remote Operating Vehicle (ROV), the students were introduced to some of the skills and instruments used in today's underwater exploration technologies.
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Report explains delays for UK Royal Navy Type 45 destroyers
The UK House of Commons and the Public Accounts Committee (PAC) have issued a report on the Royal Navy’s Type 45 destroyer programme, identifying problems encountered and lessons learnt during the process.
Following the PAC’s investigation into the reason the project’s increased costs and delays, it was found and acknowledged that “serious mistakes” were made in the early stages of the project, Defence Professionals reported. “The project management arrangements on the Type 45 destroyer were poor and allowed the culture of over-optimism to persist for too long,” the publication quoted the report as saying. Following an extensive review of the project, the contract was renegotiated to a more realistic level and has not experienced any more budget problems or time delays. The first Type 45 destroyer will enter service this year, two years later than originally planned. Furthermore, despite its purpose of being equipped with anti-air capabilities, the Principal Anti-Air Missle System (PAAMS) will not be installed until 2011. Due to the delays, the UK Ministry of Defence has had to extend the life of the Type 42 destroyers, which are costly to maintain.
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Following the PAC’s investigation into the reason the project’s increased costs and delays, it was found and acknowledged that “serious mistakes” were made in the early stages of the project, Defence Professionals reported. “The project management arrangements on the Type 45 destroyer were poor and allowed the culture of over-optimism to persist for too long,” the publication quoted the report as saying. Following an extensive review of the project, the contract was renegotiated to a more realistic level and has not experienced any more budget problems or time delays. The first Type 45 destroyer will enter service this year, two years later than originally planned. Furthermore, despite its purpose of being equipped with anti-air capabilities, the Principal Anti-Air Missle System (PAAMS) will not be installed until 2011. Due to the delays, the UK Ministry of Defence has had to extend the life of the Type 42 destroyers, which are costly to maintain.
Blue Star Ferries signs new building deal with Daewoo
Blue Star Ferries hosted a formal event to celebrate the official signing of the company’s newbuilding order sealed at the end of the previous week.
In a central Athens hotel, the company, part of Attica Group, signed the $200 million deal with Daewoo Shipbuilding and Marine Engineering Co., the world's No.3 shipbuilder Under the terms of the deal, Daewoo will build two new fast car-passenger ferries. The South Korean shipbuilder plans to deliver the ships by the first quarter of 2012, it said in a statement. The order came as shipbuilders such as Daewoo suffer from a steep fall in new ship orders. Attica Group’s announcement of the deal also said that the ships will have overall length 145.5 meters and speed of 26 knots and the capacity to carry 2,400 passengers and 450 private vehicles or 50 freight units and 150 private vehicles.
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Saturday, June 27, 2009
Grandweld holds keel laying for thee vessels
Dubai, UAE: Grandweld has celebrated a keel laying ceremony for three new shipbuilding contracts for the offshore oil and gas industry.
The ceremony for two 36-metre utility vessels and one 41-metre crewboat was held on June 18. The vessels will be owned and operated by UAE-based fleet operator Humaid Badir Marine Shipping. The three-vessel order comes after a long history of ship repair work being carried out by Grandweld for Humaid Badir. The 36-metre steel utility vessels will carry 70 tonnes of deck cargo with a maximum speed of 13 knots. The design has an accommodation for 44 persons and is powered by two caterpillar engines rated at 1,080kW each. The aluminium crewboat is yet another order for the highly successful 41-metre series, being the tenth vessel of the design to be built. The vessel carries 45 tonnes of deck cargo, 60 persons and has a maximum speed of 24 knots. Grandweld is also in the final stages of sea trials before delivery for the first of four 100-tonne bollard pull tugs for Bourbon. The other three sister ships to follow later in the year.
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The ceremony for two 36-metre utility vessels and one 41-metre crewboat was held on June 18. The vessels will be owned and operated by UAE-based fleet operator Humaid Badir Marine Shipping. The three-vessel order comes after a long history of ship repair work being carried out by Grandweld for Humaid Badir. The 36-metre steel utility vessels will carry 70 tonnes of deck cargo with a maximum speed of 13 knots. The design has an accommodation for 44 persons and is powered by two caterpillar engines rated at 1,080kW each. The aluminium crewboat is yet another order for the highly successful 41-metre series, being the tenth vessel of the design to be built. The vessel carries 45 tonnes of deck cargo, 60 persons and has a maximum speed of 24 knots. Grandweld is also in the final stages of sea trials before delivery for the first of four 100-tonne bollard pull tugs for Bourbon. The other three sister ships to follow later in the year.
Germanischer Lloyd, Celebrating 10 years in Ireland
June 2009 sees the International Classification Society Germanischer Lloyd (GL) celebrate its 10th anniversary in Ireland.
GL established its Irish subsidiary to service its local client base as well as its international clients on the island of Ireland. For several years, surveyors from the UK and continental Europe were seconded to operate Station Dublin but for the last two and a half years, the station has been manned by a local surveyor. This has permitted the forging of a good local contact point for all clients regardless of their parent company location.Mr Harald Seibicke (Area Vice-President) says “despite Ireland being considered a fringe nation on the map of Europe by many, it provides a very necessary cog in the service that GL provides it clients globally”.As Ireland is an island nation it has a high dependency on maritime trade which in turn leads to many ship calls each year. Figures released by the MSO/MSD of the Dept of Transport show that in excess of 70% of vessels visited in Irish ports are classed with GL. This has led to a recent increase in staff level with the employment of a second local surveyor. Even with this, vessels classed with GL have a very good record in the Paris MoU/PSC inspection results as carried out by the Irish Authorities.
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Shipping on V-shaped recovery: Wei Jiafu
Shanghai: Shipping is on a V-shaped recovery, maintained the boss of China’s most powerful shipping conglomerate.
Capt Wei Jiafu, president and ceo of COSCO, made this announcement in the final morning session of the China Maritime Congress held in Shanghai, coorganised by Shanghai JiaoTong University and Seatrade. Wei pointed to the recoveries in the Baltic Dry Index and western stock markets as grounds for optimism. In China domestic consumption has rocketed this year, he said. Wei revealed he had timed this cycle to perfection, offloading 126 ships in January 2008 at the height of the market. He called on his fellow shipowners to sort out the oversupply of tonnage together, praising Gao Yanming of HOSCO for his decision to cancel a tranche of his orderbook. Wei also said it was up to owners to voice their support for greater trade liberalization at a time when the spectre of protectionism hangs over world trade.
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Crowley Earns CSA Safety Award
Three Crowley vessels and their crews were recently awarded 2008 Jones F. Devlin Awards at the Chamber of Shipping of America's (CSA) Annual Safety Awards Luncheon for operating more than two years without a lost time incident.
The Crowley articulated tug barge (ATB) Sea Reliance/550-1; ATB Sound Reliance/550-2; and the tanker Blue Ridge were recognized for their exemplary safety records. More than 160 people representing over 60 companies attended the annual event held at the Hilton Houston North Hotel. "We have been holding these annual award ceremonies since the mid-1950s," said Joseph Cox, president of the CSA. "For that initial year, we honored six vessels having a total of twelve years operation with no lost-time incidents. This year, we gave awards to 1,094 vessels that operated 7,108 years without a lost-time incident. This extraordinary record is directly attributable to the professionalism of our seafarers and the dedication of shore-based company personnel to safe operation."
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DSME wins $200 million Greek ferry order
Attica Group S.A. of Greece has signed shipbuilding contracts with Korea's Daewoo Shipbuilding and Marine Engineering Co. (DSME), for two monohull-type, fast car-passenger ferries at a price of €68.50 million each [about $200 million for the pair].
The delivery of the first vessel will take place in spring 2011 and of the second vessel in the first quarter of 2012. Both ships are designed to operate in Greek domestic waters. The ships will have overall length 145.5 meters and speed of 25.5 knots and the capacity to carry 2,400 passengers and 450 private vehicles or 50 freight units and 150 private vehicles. Attica CEO Petros Vettas said: "We are pleased to sign the shipbuilding contracts for the construction of two new vessels for our group with the world-class shipyard DSME. The same shipyard has built our most successful vessels, Blue Star Paros, Blue Star Naxos and Blue Star Ithaki a few years ago. Our group's scope to provide first class sea transportation services in domestic and international waters with modern, new and fast ships will be further enhanced with the addition of these two units."Read More
The delivery of the first vessel will take place in spring 2011 and of the second vessel in the first quarter of 2012. Both ships are designed to operate in Greek domestic waters. The ships will have overall length 145.5 meters and speed of 25.5 knots and the capacity to carry 2,400 passengers and 450 private vehicles or 50 freight units and 150 private vehicles. Attica CEO Petros Vettas said: "We are pleased to sign the shipbuilding contracts for the construction of two new vessels for our group with the world-class shipyard DSME. The same shipyard has built our most successful vessels, Blue Star Paros, Blue Star Naxos and Blue Star Ithaki a few years ago. Our group's scope to provide first class sea transportation services in domestic and international waters with modern, new and fast ships will be further enhanced with the addition of these two units."
Friday, June 26, 2009
BP Marine helps to keep the ‘Angel’ flying
Mission to Seafarers receives oil for a year for support vessel Flying Angel to maintain vital link with stranded seafarers off UAE’s east coast
The Mission to Seafarers in Dubai, part of the international organisation that cares for seafarers regardless of race or religion in over 300 ports around the world, announced today that BP Marine has agreed to supply the M/V Flying Angel with its lube oil requirements for the following twelve months. “We are very happy to welcome BP Marine aboard, their generous donation of lube oil will help to ensure that the Flying Angel’s’ maintenance costs are kept to a minimum helping to maintain this vital link with distressed seafarers,” said Reverend Stephen Miller, Director and Port Chaplain, The Mission to Seafarers, Dubai. The UAE’s east coast is the second largest bunker anchorage in the world which is used by over 10,500 ships each year. During this time, over 200,000 seafarers are unable to communicate with family and friends at home for weeks, sometimes months, leading to isolation and loneliness. The vessel has an Internet café, a library with DVDs and books, a medical clinic, access to telecommunications and pastoral support.
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The Mission to Seafarers in Dubai, part of the international organisation that cares for seafarers regardless of race or religion in over 300 ports around the world, announced today that BP Marine has agreed to supply the M/V Flying Angel with its lube oil requirements for the following twelve months. “We are very happy to welcome BP Marine aboard, their generous donation of lube oil will help to ensure that the Flying Angel’s’ maintenance costs are kept to a minimum helping to maintain this vital link with distressed seafarers,” said Reverend Stephen Miller, Director and Port Chaplain, The Mission to Seafarers, Dubai. The UAE’s east coast is the second largest bunker anchorage in the world which is used by over 10,500 ships each year. During this time, over 200,000 seafarers are unable to communicate with family and friends at home for weeks, sometimes months, leading to isolation and loneliness. The vessel has an Internet café, a library with DVDs and books, a medical clinic, access to telecommunications and pastoral support.
One dead, one wounded aboard ship freed by pirates
In a reminder of the deadly nature of Somali piracy, Dutch Marines on board the just-released MV Marathon found one seafarer dead from a gunshot wound and another with a bullet wound, but in stable condition.
The dead man was reportedly the vessel's second engineer and was killed in the initial attack on the vessel. The wounded man has been identified as a cook. The Marathon had a Ukrainian crew of eight. At a briefing today, the head of the Ukrainian Foreign Intelligence Service, Mykola Malomuzh, said the owners had paid a ransom of $1.3 million. It was air dropped to the ship Monday. The pirates seized the Netherlands Antilles-flagged vessel, owned by Western Marine Transport NV and managed by Amons & Co., on May 7. The 2,575-tonne ship was carrying coke and was westbound through the Gulf of Aden when it was seized inside the so called safe corridor. It was seen as a high risk vessel with a small freeboard and capable of just 10 knots. Personnel from the Royal Netherlands Navy frigate De Seven Provinciën are currently on board the Marathon and have been providing medical assistance and fresh food, water and fuel.
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Douglas-Westwood: floating production report
UK-based maritime market researcher and analyst Douglas-Westwood has produced a new report on the world’s floating production market.
In its report, Douglas-Westwood provides an overview of the current and future developments of floating production units from 2009 to 2013. According to its figures, 93 floating production units were installed over the past year, while it predicts that some 121 more units will be installed within the next five years. Douglas-Westwood said that the report would cover all types of floaters, including FPSOs, FPSSs, spars and TLPs. The report will analyse the technologies involeved and economic rationale for the use of these units. The energy business consultants added that one of the major factors which would determine the future direction of FPSO expenditure was whether the sector develop through upgrades or the re-deployment of existing units by converting existing vessels.
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In its report, Douglas-Westwood provides an overview of the current and future developments of floating production units from 2009 to 2013. According to its figures, 93 floating production units were installed over the past year, while it predicts that some 121 more units will be installed within the next five years. Douglas-Westwood said that the report would cover all types of floaters, including FPSOs, FPSSs, spars and TLPs. The report will analyse the technologies involeved and economic rationale for the use of these units. The energy business consultants added that one of the major factors which would determine the future direction of FPSO expenditure was whether the sector develop through upgrades or the re-deployment of existing units by converting existing vessels.
CBD grants Yantai Raffles $150,000,000 loan
Singapore: Yantai Raffles Shipyard has signed a committed three year term loan facility with China Development Bank Corporation aimed primarily to retire more costly, existing bank debt and to establish working capital.
Mai Bo Liang, Chairman of Yantai Raffles’ Board said “Two of the priority objectives of the Company’s current Finance strategy are to establish and build upon key banking relationships in China, and to replace short-term bank lines with committed, longer term, competitively-priced funding arrangements. In securing this facility with CDB, Yantai Raffles has achieved an outcome that absolutely meets these two core objectives.”“Yantai Raffles is delighted to establish this business relationship with CDB and, with the ongoing commitment of Yantai Raffles’ two largest shareholders, Brian Chang and China International Marine Containers, and is confident that there will be opportunities to develop further areas of mutual cooperation with CDB,” he added.This transaction follows closely behind a Co-operation Agreement signed between CIMC and CDB in March 2009, in which CDB has provided CIMC with credit facilities of up to RMB 6.5bn ($1bn).
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Somali Pirate Attacks Boost Shipping Insurance Rates
The cost of piracy insurance has increased as much as 20-fold after attacks on shipping off the Horn of Africa doubled in the first quarter, insurance broker Marsh said.
Attacks on large commercial vessels such as the Sirius Star, a Saudi oil supertanker that was released in January, almost two months after it was hijacked with a cargo of 2 million barrels of oil, have spurred premiums and demand for coverage. Piracy “is a pretty challenging piece of risk to underwrite,” Marcus Baker, head of marine insurance at Marsh in London, said in a telephone interview. “These pirates are attacking up to 700 miles off shore.” The European Union extended its anti-piracy mission off the coast of Somalia by a year last week, warning of a “serious threat” to ships in the sea corridor that handles a tenth of the world’s trade. Armed gangs have seized at least 29 merchant ships this year and carried out 114 attacks, more than in all of 2008, according to the North Atlantic Treaty Organization. “We had ships that were quoted at 0.05 percent on their value for a trip through the Gulf of Aden in the middle of last year, and we have had other ships recently quoted at 0.1 percent for the same trip,” Baker said.
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Petrobras, Vale Join Forces to Explore Offshore Brazil
Petrobras has signed a Memorandum of Understanding with Vale S.A. which establishes the framework for a partnership to explore and produce oil and natural gas in part of BM-ES-22 concession, located off the northern coast of the state of Espírito Santo.
This concession is formed by ES-M-466, ES-M-468, ES-M-527 and ES-M-523 blocks, acquired by Petrobras at National Petroleum Agency (ANP) sixth bidding round. The blocks are situated at water depths of between one and two thousand meters and exploration is focused on the post-salt section. The object of the Memorandum is to establish the basis to negotiate the transfer of 25% working interest in the blocks ES-M 466, ES-M-468 and ES-M-527 to Vale and assure the exclusive right to Vale to acquire the participation of theses blocks during the tenor of the Memorandum. The final conditions of the negotiation have to be submitted for the approval of the ANP.
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Thursday, June 25, 2009
Sailors Use Improved Navy Lighterage System
Sailors assigned to Amphibious Construction Battalion (ACB) 2 had the opportunity to test the Improved Navy Lighterage System (INLS) during the Joint Logistics Over-the-Shore (JLOTS) exercise June 15-21.
The JLOTS exercise was a test of the military's ability to move equipment and sustainment supplies to specific areas without the benefit of a fixed port facility. The exercise increased interoperability and improved military readiness by alleviating situational sustainment issues.INLS played a large role in the JLOTS mission by acting as a floating pier, or causeway system, which is comprised of powered and non-powered floating platforms.
New tug ‘Horcon’ for LNG terminal in Chile
The new LNG tug ‘Horcon’, delivered this week to Ultratug Santiago from the ASENAV shipyard, will be stationed at the new LNG terminal in Quintero, Chile.
With a length of 32.5 metres, a beam of eleven metres and a draught of 4.9 metres, the vessel achieves a 64-tonne bollard pull. The tug features a JonRie Series 250 LNG Escort Winch, with a 75-tonne line pull at a 20-metre/minute line speed. The winch also features a line date chart recorder, Scope indicator and three tension metres and a foot control for the winch.
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Yards fight for Great Offshore acquisition
Mumbai: Yesterday saw a large scale bidding war between two Indian shipyards kick off for the acquisition of Great Offshore.
Earlier this month, Bharati Shipyard (pictured) offered INR 344 (US$7.10) to acquire some 7.83 million shares of Great Offshore, or about a 20 percent interest. Bharati Shipyard already held over 5.53 million shares in Great Offshore. Yesterday, however, ABG Shipyard offered INR 375 (US$7.74) per share for about a 34 percent stake in Great Offshore. ABG already holds a small interest in Great Offshore.Yesterday’s offer prompted Bharati Shipyard Managing Director P.C. Kapoor to say, "We will be making another revised offer, the timing will be a few days hence, and what the price will be I cannot say right now."
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Shipbuilding - a challenge for the entire industry
What happens in the shipbuilding sector will play a fundamental role in shaping the fortunes of the wider shipping market for the next decade.
There has been a lot of talk in recent months about the state of world shipbuilding, but much of the commentary has been based on supposition, gut instinct or pure guesswork. There has been little rigorous assessment of the likely cancellation risk associated with the current bulging orderbook. Do commentators know the likely level of future shipbuilding demand, or the shipping demand that drives it? Do they know how many orders have been cancelled, and how many “cancelled” ships will be built anyway? Do they know what shipbuilding capacity really is? How much of today’s order slippage is the result of a planned slowdown in production and how much is a measure of shipyards’ over-optimism? Now, in a new 200-page report, Drewry Shipping Consultants analyses the facts and explodes some of the myths surrounding the future of this crucial sector. The lack of knowledge has led to some assessments that are cock-eyed or just plain wrong – sometimes dangerously so. But several things can be stated without equivocation.Read More
There has been a lot of talk in recent months about the state of world shipbuilding, but much of the commentary has been based on supposition, gut instinct or pure guesswork. There has been little rigorous assessment of the likely cancellation risk associated with the current bulging orderbook. Do commentators know the likely level of future shipbuilding demand, or the shipping demand that drives it? Do they know how many orders have been cancelled, and how many “cancelled” ships will be built anyway? Do they know what shipbuilding capacity really is? How much of today’s order slippage is the result of a planned slowdown in production and how much is a measure of shipyards’ over-optimism? Now, in a new 200-page report, Drewry Shipping Consultants analyses the facts and explodes some of the myths surrounding the future of this crucial sector. The lack of knowledge has led to some assessments that are cock-eyed or just plain wrong – sometimes dangerously so. But several things can be stated without equivocation.
Anadarko Strikes Oil at Samurai Prospect in Gulf of Mexico
Anadarko announced a Miocene discovery at the Samurai prospect in the deepwater Gulf of Mexico in Green Canyon block 432.
The discovery well, located approximately 12 miles north of the Marco Polo platform, encountered more than 120 feet of net oil pay in several high-quality sands.” Samurai marks our third discovery in the deepwater Gulf of Mexico this year," said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration. "We are very pleased with the results of this initial well, which is located in close proximity to existing infrastructure, demonstrating the value of our hub-and-spoke approach. We look forward to drilling a sidetrack appraisal well within the next year. The continued success of our worldwide exploration program reinforces our expectations of discovering approximately 350 million BOE (barrels of oil equivalent) of net resources in 2009, which is a 50-percent increase from the expectations we communicated at our investor conference in March of this year."Read More
The discovery well, located approximately 12 miles north of the Marco Polo platform, encountered more than 120 feet of net oil pay in several high-quality sands.” Samurai marks our third discovery in the deepwater Gulf of Mexico this year," said Bob Daniels, Anadarko Sr. Vice President, Worldwide Exploration. "We are very pleased with the results of this initial well, which is located in close proximity to existing infrastructure, demonstrating the value of our hub-and-spoke approach. We look forward to drilling a sidetrack appraisal well within the next year. The continued success of our worldwide exploration program reinforces our expectations of discovering approximately 350 million BOE (barrels of oil equivalent) of net resources in 2009, which is a 50-percent increase from the expectations we communicated at our investor conference in March of this year."
Wednesday, June 24, 2009
‘Kamaran’ begins operation in Yemen
The ‘Kamaran’ is the second of the three line-handling boats supplied by Alnmaritec to operate at a new LNG terminal in the Yemen.
The vessel is fitted with twin Cummins engines and Ultrajet 305 HT waterjets from Ultra Dynamics giving her a top speed of around 28 knots and a bollard pull of around three tonnes. ‘Kamaran’ has a fully enclosed wheel house. Internally, the vessel has seating for six passengers. The vessel has a two-tonne hydraulic capstan and a tow post fitted with an on-load quick release hook as well as a man overboard recovery davit and an aft dive platform with dive ladder. ‘Kamaran’ is fitted with a water spray deluge system and carries a removable boarding platform since the vessel’s duties also include pilot operations for the LNG tankers.
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AK Fishing Boat Repowered with Isuzu
Kodiak Diesel in Kodiak, Alaska has just finished the repower of the F/V Jeanoah an 84 ft crabbing and long line vessel owned by Fairweather Fisheries, Jerry Bongen & James Stevens.
The new engine is a UM6WG1WM-AB1K Isuzu tier 2 common rail, M1 rating to deliver 505 HP @1800 RPM engine. The engine was paired with a Twin Disc 5170 6:1 transmission. The Jenoah fishes from Sitka out to the Aleutian Islands. With a fishing area this large, engine reliability is very important. Kodiak Diesel worked closely with the owners to choose an engine that would work as hard as they do while offering the dependability needed in this harsh environment.Read More
The new engine is a UM6WG1WM-AB1K Isuzu tier 2 common rail, M1 rating to deliver 505 HP @1800 RPM engine. The engine was paired with a Twin Disc 5170 6:1 transmission. The Jenoah fishes from Sitka out to the Aleutian Islands. With a fishing area this large, engine reliability is very important. Kodiak Diesel worked closely with the owners to choose an engine that would work as hard as they do while offering the dependability needed in this harsh environment.
Grandweld secures new shipbuilding contracts
Dubai: Grandweld recently held keel laying ceremonies for for two 36m Utility Vessels and one 41m Crewboat for repeat customer Humaid Badir Marine Shipping Est, a UAE based fleet operator.
The three vessel order is said to signal a strong 2009/10 order book for the Dubai based shipbuilding, ship repair and conversion yard, part of GMMOS Group. Grandweld gm Jamal Abki said: “Humaid Badir has been a wonderful friend and business partner in ship repair throughout the years, and it is an excellent development in our relationship to start shipbuilding for them.” Hassan Yahya, Humaid Badir md said: “We are always very impressed with Grandweld’s results and their professional commitment to quality and customer support. We look forward to a highly successful building program.” The 36m steel Utility Vessels will carry 70 tonnes of deck cargo with a maximum speed of 13knots. The design has an accommodation for 44 persons and is powered by two caterpillar engines rated at 1450HP each.
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Grandweld secures new shipbuilding contracts
Dubai: Grandweld recently held keel laying ceremonies for for two 36m Utility Vessels and one 41m Crewboat for repeat customer Humaid Badir Marine Shipping Est, a UAE based fleet operator.
The three vessel order is said to signal a strong 2009/10 order book for the Dubai based shipbuilding, ship repair and conversion yard, part of GMMOS Group. Grandweld gm Jamal Abki said: “Humaid Badir has been a wonderful friend and business partner in ship repair throughout the years, and it is an excellent development in our relationship to start shipbuilding for them.” Hassan Yahya, Humaid Badir md said: “We are always very impressed with Grandweld’s results and their professional commitment to quality and customer support. We look forward to a highly successful building program.” The 36m steel Utility Vessels will carry 70 tonnes of deck cargo with a maximum speed of 13knots. The design has an accommodation for 44 persons and is powered by two caterpillar engines rated at 1450HP each.
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Over 2 billion ferry passengers worldwide
Over 2 billion passengers, 255 million cars and 34.1 million trailers were transported by ferry services worldwide last year.
According to ShipPax Information. There were 6.7 million number of sailings, representing one ferry departure every fifth second. In 2008, 61 ferries were sold. 13 new ferry services were inaugurated although 13 others were closed. For example, the Norwegian ferry operator Nye Kystlink AS decided to close down its service from Langesund to Hirtshals and Strömstad and liquidate the company. The last sailing took place on October 21, 2008. The cruise industry reports a healthy 2008 as 19.5 million passengers travelled with cruise ships worldwide, a growth rate of 7.9 per cent. 33 per cent of the passengers were carried in the largest market, the Caribbean. A growth region is the Mediterranean which accounts for more capacity than any other market for six months of the year.
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Small North Sea Oil Discovery Could Realize Visund North Devt
A small oil discovery has been made by StatoilHydro in the Titan prospect directly east of northern Visund in the Tampen area of the Norwegian North Sea.
Made by exploration wells 34/8-13 A and 34/8-13 S, this strike is estimated to contain 5.6-12.5 million recoverable barrels of oil equivalent. A tie-in to Visund will be assessed. The wells were drilled by the Scarabeo 5 semisub. "Although it's only a small find, the volumes proven could be very significant for realizing a Visund North development," explained Visund operations head Tom Karsten Gustavsen. Intended to prove petroleum in the Brent group, the discovery wells were drilled in a structurally complex area. While 13 A found a small oil column in Upper Jurassic sands, the underlying Brent group proved to be an aquifer. Well 13 S, drilled 2.7 kilometers to the southeast, found oil in the Brent group.
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Small North Sea Oil Discovery Could Realize Visund North Devt
A small oil discovery has been made by StatoilHydro in the Titan prospect directly east of northern Visund in the Tampen area of the Norwegian North Sea.
Made by exploration wells 34/8-13 A and 34/8-13 S, this strike is estimated to contain 5.6-12.5 million recoverable barrels of oil equivalent. A tie-in to Visund will be assessed. The wells were drilled by the Scarabeo 5 semisub. "Although it's only a small find, the volumes proven could be very significant for realizing a Visund North development," explained Visund operations head Tom Karsten Gustavsen. Intended to prove petroleum in the Brent group, the discovery wells were drilled in a structurally complex area. While 13 A found a small oil column in Upper Jurassic sands, the underlying Brent group proved to be an aquifer. Well 13 S, drilled 2.7 kilometers to the southeast, found oil in the Brent group.
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Tuesday, June 23, 2009
Volvo Ocean Race: Final in Port Race
After an extremely disappointing leg nine, which saw second overall in the Volvo Ocean Race 2008-09 slip away when Telefónica Blue ran aground and had to return to Marstrand for emergency repairs.
Bouwe Bekking and his men made a remarkable comeback today, to snatch the in-port race in Stockholm from nearest rival PUMA. Telefónica Black was third.The rocks and islands surrounding the course set today for the final of the in-port race series in the Volvo Ocean Race were black with thousands of spectators, while out on the water, in the Stockholm Archipelago, spectator boats lined both sides of the course and masts could be seen as far as the eye could see. The well-behaved spectator fleet was expertly marshalled by the Swedish Navy. It was the perfect day for racing. As the breeze built to nine knots for the first of two races, the fleet of seven Volvo Open 70s, sailing with plenty of heel and producing foaming white water from their bows made a clean start, led by Delta Lloyd.
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Attica to sign for two new ro-pax vessels
The Attica Group, Greece, has reached an agreement with Korean shipyard Daewoo Shipbuilding and Marine Engineering (DSME) for the building of two new fast car-passenger ferries.
Attica said that the contracts would be signed on June 25. The ships will each have an overall length of 145.5 metres and a speed of 26 knots. The vessels will have the capacity to carry 2,400 passengers and 450 private vehicles or 50 freight units and 150 private vehicles.
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National port regulator in the offing
New Delhi: The Union Ministry of Shipping has decided to set up an authority to regulate the functioning of major ports along the coastline of the country.
The department on Monday circulated the draft of the new law it proposes to enact to set up the authority under the Major Ports Regulatory Authority Act, 2009. The regulatory authority would comprise a chairman and four members with a five-year term and would have the liberty to set up regional offices as well. The authority would decide on the rates for the facilities and services provided at the major ports and to monitor the performance standards of the port authorities and private operators providing such facilities and services.
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Dry Blue Star Returns to the Burger Shipyard
Blue Star, a 1987 86.5 ft Raised Pilot House Burger, returned home to the Burger shipyard to have routine maintenance performed.
She arrived at the shipyard Tuesday June 9, 2009 after a 10 hour run from Grand Haven, Michigan where she had spent the winter. Once at the Burger facilities she was hauled utilizing Burger’s 500mt Marine Travelift. The Burger Service Team is working closely with the Captain and crew of to assure a rapid return to the water as she is scheduled to spend most of her summer cruising Lake Superior.Utilizing Burger’s facility and knowledgeable staff for this service work was a natural fit for the owner and crew of Blue Star. What better place to bring your vessel for service than the shipyard in which she was built.Burger Boat Company designs and builds custom yachts, in aluminum and/or steel, ranging in sizes to 200 ft. Since 1863 Burger has been recognized internationally for design, quality construction, seaworthiness, reliability and is the most respected custom yacht builder in America.
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Petrobras to Reel in More Rigs for Offshore Santos Basin
Petrobras to Reel in More Rigs for Offshore Santos Basin
Brazilian state-run energy giant Petrobras (PBR) expects to bring up to four more drilling rigs to a prospect in the offshore Santos Basin in the second half of the year.The ultra-deepwater rigs will be used to "attack" areas in the subsalt region in the Santos Basin, Petrobras' Mario Carminatti told the local Estado news agency. The Santos Basin is home to the Tupi field, the Western Hemisphere's largest oil discovery in more than 30 years.The rigs will be used to complete studies of the Tupi, as well as other subsalt drill targets, Petrobras' executive manager for exploration said.
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Monday, June 22, 2009
Persian Gulf Tanker Rates Fall Most in Six Weeks
The cost of delivering Middle East crude to Asia, the world’s busiest route for supertankers, posted its biggest weekly drop in six as demand from oil companies for ships to load next month’s cargoes fell.
Shipping costs on the Saudi Arabia to Japan route, the industry benchmark, fell 0.6 percent to 49.22 Worldscale points today, according to the London-based Baltic Exchange.That took the week’s decline to 4.8 percent, the largest such drop since the week to May 8. Daily earnings for ships plowing the route fell 3.4 percent to $30,340.
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Shipping costs on the Saudi Arabia to Japan route, the industry benchmark, fell 0.6 percent to 49.22 Worldscale points today, according to the London-based Baltic Exchange.That took the week’s decline to 4.8 percent, the largest such drop since the week to May 8. Daily earnings for ships plowing the route fell 3.4 percent to $30,340.
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Rongsheng snares large Omani order
Shanghai: Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Co ,Won a $484 million deal.
Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Co, which is aiming to sell shares to the public in 2009, won a $484 million deal to build four ships for Oman Shipping Co, a government official said on Sunday. The vessels would carry exports from an iron ore pellet plant in northern Oman which is expected to begin production in the second half of 2010. Brazil's Companhia Vale do Rio Doce (Vale) is building the $1 billion plant. Rongsheng has a relationship with Vale already – building $1.2bn of VLOCs for the Brazilian mineral conglomerate. "The vessels will be delivered by the end of 2011 or beginning of 2012 and will be chartered to Vale for its exports," the official from Oman's Tender Board told Reuters.
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Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Co, which is aiming to sell shares to the public in 2009, won a $484 million deal to build four ships for Oman Shipping Co, a government official said on Sunday. The vessels would carry exports from an iron ore pellet plant in northern Oman which is expected to begin production in the second half of 2010. Brazil's Companhia Vale do Rio Doce (Vale) is building the $1 billion plant. Rongsheng has a relationship with Vale already – building $1.2bn of VLOCs for the Brazilian mineral conglomerate. "The vessels will be delivered by the end of 2011 or beginning of 2012 and will be chartered to Vale for its exports," the official from Oman's Tender Board told Reuters.
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Oil slides towards $69
Crude fell towards $69 a barrel today after extending the previous session's drop of more than 2% as bearish sentiment over gasoline markets in the US continued to dominate investors' concerns.
Crude fell 2.5% on Friday, dragged lower by a sell-off in the gasoline market as dealers bet there would ample fuel supply in the US to meet demand from summer vacationers. US crude for July delivery fell 39 cents to $69.16 by 0157 GMT. The contract fell $1.82 to settle at $69.55 a barrel on Friday, registering a weekly loss of more than 3%. London Brent crude fell 32 cents to $68.87. "In May, the market was pricing in that there would be a gasoline shortage but the latest data is obviously showing that it is not happening," said Ben Westmore, a commodities analyst at the National Australia Bank. "There are also high stockpiles of crude, so the general market sentiment is that the balance of demand and supply in the market hasn't improved too much"
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Lindo Shipyard might axe 2,000 out of 2,700 jobs
Denmark: Lindø Shipyard may be forced to cut 2,000 jobs in the workforce total of 2,700.
Lindø Shipyard may be forced to cut 2,000 jobs by the second quarter of 2010 if the shipyard does not receive new orders. Lindø has not received any orders since the first quarter of 2008. “The situation does not look good and things have become worse lately,” said Lindo CEO Finn Buus Nielsen in a Maritime Danmark story which quoted the Daily Borsen. “The adjustment is needed when taking into consideration the way our construction programme looks these days. If our products are not purchased we have to throttle down.” According to the report, Lindø yard owner AP Møller-Maersk may even decide to completely shut down the yard with a workforce total of 2,700, once its orderbook to 2011 is fulfilled. A final decision will be reached by the start of the northern summer holidays.
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Safe Bulkers, ,Inc. Announces the Sale of Panamax Class Vessel
The Company announced today that it has entered an agreement to sell a 76,000 dwt Panamax class vessel built in 2003 for $33 million.Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced the sale of a Panamax Class Vessel.
Fleet Update. The Company announced today that it has entered an agreement to sell a 76,000 dwt Panamax class vessel built in 2003 for $33 million, excluding commissions to brokers. The vessel will be delivered to its new owners in December 2009. The extended delivery period, which exceeds the market standard of three months, will permit the Company to employ the vessel in the spot market through December 2009. Proceeds from the sale of the vessel will strengthen the Company's balance sheet.The Company also provided additional details regarding its entry into a resale agreement to acquire a Capesize class newbuild vessel to be delivered in April 2010, which had been previously announced in a press release dated June 8, 2009. The acquisition price for the 177,000 dwt newbuild is $63 million, including commissions, and the vessel will be delivered by the Shanghai Jiangnan Changxing Shipbuilding Co., part of the SWS group
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Sunday, June 21, 2009
India May OK Rig Holiday for Oil Cos Next Week
India is likely to give more time to oil and gas exploration companies for drilling in their deepwater blocks as a shortage of rigs has delayed production schedules, an oil ministry official said Friday.
"The drilling moratorium issue is likely to come up in the next Cabinet meeting," the official told reporters.The government has been considering a rig holiday as the companies haven't been able to adhere to the timeline written into their production sharing contracts with the government, mainly due to a shortage of rigs.The extension is expected to give companies such as Oil & Natural Gas Corp., Reliance Industries Ltd. and Italy's ENI SpA three more years to develop some of the blocks they have been awarded under the government's new exploration licensing policy.
"The drilling moratorium issue is likely to come up in the next Cabinet meeting," the official told reporters.The government has been considering a rig holiday as the companies haven't been able to adhere to the timeline written into their production sharing contracts with the government, mainly due to a shortage of rigs.The extension is expected to give companies such as Oil & Natural Gas Corp., Reliance Industries Ltd. and Italy's ENI SpA three more years to develop some of the blocks they have been awarded under the government's new exploration licensing policy.
Topaz Launches Crew Boat, Kanoo 40
Topaz Energy and Marine Ltd. through its subsidiary Nico Craft has launched a 98.4 ft crew boat named Kanoo 40 for Kanoo Shipping.
The crew boat was designed by Technicraft, New Zealand and all the engineering and construction work was undertaken by Nico Craft in Fujairah. Nico Craft forms a part of Topaz Engineering, the newly formed engineering division of Topaz Energy and Marine. Kanoo 40 is a medium speed catamaran vessel designed to service vessels within a distance of 50 nautical miles from port. The boat is constructed using welded seawater resistant aluminium alloy and the hull is a semi-planning type. The Kanoo 40 has a moulded beam of 32.8 ft and a draught of 3.9 ft.The crew boat has a deck cargo capacity of 376.7 sq ft and can carry a crew of 5 and upto 35 passengers at a speed of 27 knots. The vessel has been built under the Bureau Veritas Certification.
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CPC to ramp up supertanker ownership
Taipei: Chinese Petroleum Corp (CPC) of Taiwan is planning boosting its VLCC fleet dramatically.
The energy giant is in talks with both Chinese Maritime and U-Ming Marine Transport about a joint venture which could initially order seven 300,000-dwt VLCCs and one 80,000-dwt tanker. CPC wants to build up a 35-strong VLCC fleet eventually.
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The world is swimming in oil
Oil tankers are anchored off the Dutch coast, unable to deliver their cargo to the port of Rotterdam because its oil facilities are filled to capacity, but also because it is more profitable.
Last Friday, a total of eight supertankers - very large crude carriers (VLCC) – had anchored off the Dutch coast, half of them fully loaded. Each of them can carry up to 2 million barrels of crude oil, enough to fill up 6 million small cars. These supertankers could reach the port of Rotterdam, Europe's biggest oil refining and trade centre, in less than an hour. But they don't. There just isn't enough room, says Jeroen Kortsmit, commercial manager at Royal Dirkzwager, a maritime advisory company. "The port of Rotterdam is filled to capacity." Rotterdam is being flooded with crude oil, which has become superfluous because of the economic slowdown. The port can normally hold up to 12.8 million cubic metres of crude oil. That's 80 million barrels, or enough to supply all 27 member states of the European Union for five days. Now the Rotterdam port is full and companies active in oil shortage, like Vopak, Oiltanking and Eurotank, are doing good business these days.Read More
Last Friday, a total of eight supertankers - very large crude carriers (VLCC) – had anchored off the Dutch coast, half of them fully loaded. Each of them can carry up to 2 million barrels of crude oil, enough to fill up 6 million small cars. These supertankers could reach the port of Rotterdam, Europe's biggest oil refining and trade centre, in less than an hour. But they don't. There just isn't enough room, says Jeroen Kortsmit, commercial manager at Royal Dirkzwager, a maritime advisory company. "The port of Rotterdam is filled to capacity." Rotterdam is being flooded with crude oil, which has become superfluous because of the economic slowdown. The port can normally hold up to 12.8 million cubic metres of crude oil. That's 80 million barrels, or enough to supply all 27 member states of the European Union for five days. Now the Rotterdam port is full and companies active in oil shortage, like Vopak, Oiltanking and Eurotank, are doing good business these days.
Saturday, June 20, 2009
Round the Island Race
The JPMorgan Asset Management Round the Island Race, organised by the Island Sailing Club, will take place on Saturday 20 June with a total entry of 1,779 boats.
Professional and Olympic sailors line up with family cruisers, sportsboats, classic yachts and one designs, in Britain's most popular sailing area. Top of the ratings IRC0 is headed by current race record holder Mike Slade's 30m super maxi ICAP Leopard. The crew comprises Volvo Ocean Race, America's Cup and Admiral's Cup sailors headed by Mike Slade's professional boat captain of 18 years, Chris Sherlock.Tony Todd's Performance Yachts 100 Liara is the new kid on the block. Built by Southern Ocean Marine to a Dixon Yacht Design, she was launched in New Zealand in February 2009. Skipper Ross Appleby, a graduate from Southampton University, has taken Tony Todd's previous yachts to success in the ARC, Guadeloupe to Antigua Race and Nelson's Pursuit Race. Given Liara's 5m draft, Ross will be denied some traditional tide cheating manoeuvres, presenting an interesting challenge. On handicap, ICAP Leopard is rated 25% higher than Liara, so if Leopard finishes the race in four hours Liara can finish in five and still beat her.
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WESMAR Bow Thruster on Oil Support Vessel
WESMAR (Western Marine Electronics) of Woodinville, Wa. has announced the installation of their ABS design approved bow thruster for dynamic positioning on the 175 ft FSV Gulf Fury, the newest and fastest oil support vessel for Gulf Fleet of Lafayette, Louisiana. Gulf Fury, joins a fleet of 17 other Gulf Fleet vessels.
“She is our first total ABS classed DPS-1 vessel. With this classification and with WESMAR’s V2-20 ABS design approved bow thruster, the Gulf Fury is viewed highly in the industry, creating opportunities for us around the world,” said Ryan Pecoraro, Technical Engineer and Project Manager for Gulf Fleet. Gulf Fury was built for deep water offshore work around platforms that are not attached to the sea bottom, traveling back and forth doing crew changes and carrying cargo for the rigs, 24 hours a day/7 days a week. This work requires close maneuvering in adverse conditions, and holding the boat true, and this is where the WESMAR bow thruster is of great value, says Pecoraro.
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Analysis: Diamond Offshore's Fleet & Focus
A strong competitor in the offshore rig market, Diamond Offshore currently offers 45 offshore rigs, making it the fourth largest fleet of competitive offshore rigs.
Of its total fleet, 14 are jackups, 30 are semisubmersibles and one is a drillship. Currently, Diamond has approximately 90% of its rig fleet contracted, and in June 2009 alone, the total revenue generated by contracted rigs exceeded $320,000,000. The majority of Diamond's rig fleet is currently performing drilling operations. In fact, 34 rigs are presently drilling, and three are performing workover operations. One is waiting on location, one is undergoing inspection, one is being modified, and one is en route to a new location. Four rigs are ready-stacked at this time.
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NYK and Kawasaki to build and lease drillships
Japan: NYK and Kawasaki have signed an agreement to jointly lease deepsea drillships in Brazil.
The two companies, along with Mitsui, have placed a major order with a South Korean builder for a vessel with offshore exploration capabilities and the ability to drill in water depths of up to 3,000 metres. According to The Nikkei, NYK and Kawasaki plan to build the vessel and lease it to Brazilian state-owned offshore giant Petrobras until 2012. Petrobras, which had plans to spend US$28 billion over five years on offshore oil exploration, has been having financial difficulties since the onslaught of the credit crunch. Many foreign countries, especially China, have since voiced interest in acquiring rights to the large oilfield which was discovered off the Brazilian coast last year.
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Grand China Logistics places largest shipbuilding order
Ningbo: Zhoushan Jinhaiwan Shipyard has secured a bumper order for 30 bulkers from fast emerging Grand China Logistics, one of the largest single orders placed in China of all time.
Broken down, the vessels in the order were made up of 18 176,000-dwt Capesizes and 12 80,000-dwt Panamaxes. With a total contract price of above $2 billion, the newbuildings are scheduled to be delivered between the third quarter of 2010 and the second quarter of 2012. Further, Grand China will invest in Zhoushan Jinhaiwan by acquiring 50% of the yard's stakes, according to the Kaiji Press.
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Friday, June 19, 2009
Mixed bag for Singapore terminals throughput
Singapore: Singapore port terminals handled 20.3% fewer containers in May from a year ago but traffic edged up 0.7% from April, Reuters writes citing data from the Maritime and Port Authority of Singapore.
The numbers show this year's shrinking trade at the world's busiest container port may have stabilised. Most containers passing through Singapore's port are transshipments between East and West, and so are a barometer of world trade.The figures reinforce government data on Wednesday that showed Singapore's May non-oil exports rose a bigger-than-expected 5.6% from the previous month on a seasonally adjusted basis, but fell 12.1% from a year ago."Evidence of a fledgling recovery in Singapore exports and industry is growing," said HSBC economist Robert Prior-Wandesforde after the exports data. "We remain optimistic that Singapore GDP will have grown on a quarter-on-quarter basis in the second quarter."
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COSCO boss positive about profit prospects
Shipping giant China COSCO Holdings expects better financial results for the second half of this year.
"We will aim to achieve a profit this year," said the Chairman of China Ocean Shipping, Wei Jiau, the listed company's parent.China COSO had an unaudited net loss of US$490.8 million for the first quarter, compared with a net profit of US$898.6 million a year earlier.Captain Wei also said the parent company's key dry bulk operations are at a break-even level. China COSCO is the listed flagship of China Ocean Shipping, China's largest shipping operator by revenue.
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West Eminence Heads for Offshore Brazil Next Week
Norway drilling company Seadrill hopes its West Eminence rig will head out for drilling in Brazil's Santos Basin next week, the company's drilling performance manager told Dow Jones Newswires.
The West Eminence arrived in Brazil on May 30 and has been undergoing inspections and acceptance testing, Seadrill's Mauricio Aguiar said Wednesday."We expect everything will be ready and the rig will head out to sea next week," Aguiar said. The executive spoke on the sidelines of the Brazil Offshore 2009 conference in Macae.West Eminence will first head for the much-ballyhooed BM-S-11 block, home to the Tupi and Iara finds. The subsalt oil prospects are estimated to hold recoverable reserves of between 8 billion and 12 billion barrels of oil equivalent.
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46 indicted in Taiwan’s Kaohsiung port scandal
Taipei: Prosecutors in Taiwan said on Thursday they had indicted 46 people from the island's largest port and from eight shipping lines on charges of inflating data, apparently in an effort to raise the port's global ranking, writes Reuters.
The Kaohsiung Harbour Bureau director general and other officials were indicted over the past few days on charges they paid the freight lines a total of about T$300 million ($9.12 million) since 2007 to exaggerate shipping volumes, said Chung Chung-hsiao, a spokesman with the Kaohsiung prosecutor's office. Kaohsiung's port, the world's third-busiest in the late 1990s, has fallen to No. 8 with the expansion of ports in nearby China following rapid economic growth."We don't know their motivation, but we do know they were exaggerating," Chung said. "We have to do what we have to do. So much money and so many faked documents -- it's pretty big."After a year of investigation following a citizen complaint, prosecutors indicted the port officials with falsifying records, seeking personal gain and breaching contracts, Chung said.Port officials declined to comment on the case.
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BW Gas applies for delisting from Oslo
BW Gas has now formally applied for delisting from the Oslo Stock Exchange, following a resolution of its members and board of directors.
The Sohmen family now controls 99.9 per cent of the share capital and the votes in BW Gas through its World Nordic. As there is only one shareholder left, the shares will no longer be subject to regular trading, and the shares will thus no longer meet the requirement for listing on the Oslo Stock Exchange
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Thursday, June 18, 2009
Singapore unveils USV project
Unmanned surface vehicles (USV), which can be controlled from remote locations, ashore and afloat, form an increasingly important thread of the international naval tapestry.
Importantly, there is some political support for USV operations, as they greatly reduce the likelihood of own-force casualties, and may help enable deniability in covert operations. Also, they are of particular interest to small, but ambitious navies, as they offer, potentially, a lot of bang per buck. Singapore is a major player in the USV arena, its vessels from the Protector-class hae seen front-line action in Middle Eastern waters. Besides these vessels, which were built by Israel’s Rafael. Now, Singapore is set to field its own USV, in the form of the ST Electronics' ‘Venus’, currently under development, and recently revealed at the IMDEX 09 naval exhibition and conference at the Lion City's Expo Centre. With a length of nine metres, and a beam of 2.8 metres, the ‘Venus’ has a designed maximum speed of 50 knots, and endurance of up to eight hours. ‘Venus’ will be fitted with modular weapons and sensor outfits, in accordance with operational requirements, which will equip it to carry out anti-submarine, surface warfare, mine countermeasures and surveillance missions.Read More
Importantly, there is some political support for USV operations, as they greatly reduce the likelihood of own-force casualties, and may help enable deniability in covert operations. Also, they are of particular interest to small, but ambitious navies, as they offer, potentially, a lot of bang per buck. Singapore is a major player in the USV arena, its vessels from the Protector-class hae seen front-line action in Middle Eastern waters. Besides these vessels, which were built by Israel’s Rafael. Now, Singapore is set to field its own USV, in the form of the ST Electronics' ‘Venus’, currently under development, and recently revealed at the IMDEX 09 naval exhibition and conference at the Lion City's Expo Centre. With a length of nine metres, and a beam of 2.8 metres, the ‘Venus’ has a designed maximum speed of 50 knots, and endurance of up to eight hours. ‘Venus’ will be fitted with modular weapons and sensor outfits, in accordance with operational requirements, which will equip it to carry out anti-submarine, surface warfare, mine countermeasures and surveillance missions.
KOC raises prospect of workboat bonanza
Dubai: Workboat builders in the Gulf states are buzzing on news that the Kuwait Oil Company (KOC) plans to replace its ageing fleet of workboats with some 53 new vessels.
It is understood that KOC requires a range of different workboats including tugs, crew boats, work barges, mooring boats, a landing barge and an anti-pollution barge to replace existing vessels. The company has so far not gone public with its requirements but market sources believe that existing vessels will be phased out over the next three to four years as they approach the operating age limit under Kuwaiti safety regulations. Sources also believe that shipbuilders in the region will be well-placed to win a significant share of the construction contracts which could be worth up to half a billion dollars in total.
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MOL launches barge service from Cambodia
MOL (America) has launched a new barge service between Phnom Penh and North America.
The new service will employ Phnom Penh’s river barge terminal. Containers will be shipped via barge to Ho Chi Minh’s deepwater terminal and loaded on MOL’s line-haul vessels for direct service to North America and intra-Asia. The barge service will save MOL up to ten days of transit time to the US west coast and Canada. Customarily, containers from Phnom Penh are trucked to Sihanoukville in southern Cambodia where they are transferred to feeder vessels, shipped to Singapore and transshipped to line-haul vessels bound for North America. This new direct barge service to Ho Chi Minh will reduce intermodal travel, while completely eliminating the need for feeder services and transshipping in Singapore.
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Feeder Ship in Service, Hamburg to Finland
The feeder ship A La Marine was welcomed at the Port of Hamburg’s terminals on 8 June 2009 for the first time.
Built at the Peene Shipyard in Wolgast, which belongs to the Hegemann Group, the ship measures 557.7 ft in length and 82 ft in width and has a cargo carrying capacity of 1440 TEUs, as well as 316 connections for refrigerated containers (reefers).The new ship belongs to the fleet of the Belgian shipping company Delphis. Since being delivered it has been in service in the Baltic region for Delphis subsidiary Team Lines, one of the leading European operators of feeder services. Every 14 days the A La Marine puts in to the container terminals of the Finnish ports of Kotka and Helsinki.
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US report highlights importance of coastal activity
European governments and maritime interests will find relevance in an American report released last week which shows that ocean resources and coastal communities are vital to the overall economy, yet climate change poses a major threat.
The results of the first independent report on the ocean and the US economy, released by the National Ocean Economic Program (NOEP) during Capitol Hill Ocean Week, shows that in 2007, four in five Americans lived in coastal states, generating 83% of the nation's economic output, and contributing $11.4 trillion to the national gross domestic product (GDP). The report highlights the enormous overall value of the ocean and the nation's coasts, and the critical role these areas play in America's economic health and well being. The report also shows that these areas, which have been hit hard by the recession, are also under considerable future risk due to the effects of climate change, ocean acidification, and sea level rise.‘Our nation's economic recovery and stability depends on how we deal with the issue of climate change and what we do to protect valuable natural assets that serve to support the people and communities that live along our ocean and coastal areas as well as the entire nation’, said Dr. Judith T. Kildow, director of the NOEP.
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The results of the first independent report on the ocean and the US economy, released by the National Ocean Economic Program (NOEP) during Capitol Hill Ocean Week, shows that in 2007, four in five Americans lived in coastal states, generating 83% of the nation's economic output, and contributing $11.4 trillion to the national gross domestic product (GDP). The report highlights the enormous overall value of the ocean and the nation's coasts, and the critical role these areas play in America's economic health and well being. The report also shows that these areas, which have been hit hard by the recession, are also under considerable future risk due to the effects of climate change, ocean acidification, and sea level rise.‘Our nation's economic recovery and stability depends on how we deal with the issue of climate change and what we do to protect valuable natural assets that serve to support the people and communities that live along our ocean and coastal areas as well as the entire nation’, said Dr. Judith T. Kildow, director of the NOEP.
Wednesday, June 17, 2009
New Thames Patrol Launch
The first of a new, improved generation of Port of London Authority (PLA) patrol launch has arrived on the Thames.
The new launch, Lambeth, is one of a fleet of five specially-designed catamarans being introduced in a $2.8b PLA investment, to replace seven heavier, older vessels. At initial trials, the new vessel has already shown the expected benefits of substantially reduced exhaust emissions, lower fuel consumption and smaller wash waves. The PLA also expects to benefit from easier maintenance and operation, as the single design replaces seven different vessels. Lambeth and her four sister patrol boats, all to be named after London bridges, are products of five years of British planning, research, design and construction. The new boat was conceived by the PLA and built by Alnmaritec, at their boatyard in Northumberland, to the PLA’s design – developed in conjunction with experts at Newcastle University and naval architects Amgram Limited.Read More
The new launch, Lambeth, is one of a fleet of five specially-designed catamarans being introduced in a $2.8b PLA investment, to replace seven heavier, older vessels. At initial trials, the new vessel has already shown the expected benefits of substantially reduced exhaust emissions, lower fuel consumption and smaller wash waves. The PLA also expects to benefit from easier maintenance and operation, as the single design replaces seven different vessels. Lambeth and her four sister patrol boats, all to be named after London bridges, are products of five years of British planning, research, design and construction. The new boat was conceived by the PLA and built by Alnmaritec, at their boatyard in Northumberland, to the PLA’s design – developed in conjunction with experts at Newcastle University and naval architects Amgram Limited.
Wartsila launches new services package for ship lay-ups
Bangkok: In order to meet the needs of its customers, and to ensure the best lifecycle support of customers' vessels, Wartsila has introduced a new, comprehensive package of services, designed to cost efficiently manage hot and cold vessel lay-ups.
‘When laying-up, it is of the utmost importance that the vessel's machinery be kept in good condition. This is achieved through professional management of the de-activation and re-activation phases, and by regular inspections and maintenance during the interim period,’ the company said in a statement. Wartsila's lay-up services will be available for engine room equipment covering 2-stroke & 4-stroke engines, propulsion lines, electrical & automation equipment, and boiler systems. Centrally controlled and dispatched from Wartsila Switzerland, the expert crews are mobilised regionally in the Mediterranean, the Middle East and Asia. The service package is an all-in-one agreement covering a selection of equipment, for de-activation, re-activation, lay-up inspections, or a combination of all of these.
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Sea Production receives breach notice from Sinopec
HAMILTON, BERMUDA: Puffin FPSO Ltd, a subsidiary of Sea Production Ltd. and owner of the Front Puffin FPSO [floating production, storage and offloading] facility, and contracting entity on the FPSO Charter Contract dated March 3, 2006 with AED Services Ltd, has received a Notice of Material Breach from the operator of the Puffin Field purporting to act on behalf of Puffin FPSO Ltd's contracting client, AED Services Ltd.
Sinopec operates the Puffin field after Australia's AED Oil completed the sale of 60 percent interest in the assets held under the AC/P22, AC/L6 and AC/RL1 permits to Sinopec. AED still holds the remaining 40 percent interest. "The company and Puffin FPSO Ltd take issue with, and will be vigorously defending, the allegations of breach of material obligations made in the Notice of Material Breach as provided for in the Contract," Sea Production said in a statement.In the meantime, and upon the request of the operator of the Puffin Field, production operations have been suspended on the Front Puffin FPSO.
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‘Stena Discovery’ makes a comeback
‘Stena Discovery’ was delivered to Venezuelan operator Albamar after a long hiatus.
Laid up in Belfast since the cease of the Harwich to Hoek van Holland service in early 2007, the vessel was drydocked last month to have its Stena markings removed. The vessel then performed sea trials in which it achieved a top speed of 42 knots. The HSS 1500 catamaran was built in 1997 in Rauma. The vessel is driven by gas turbine propulsion and can carry a maximum of 1,500 passengers and 375 cars. ‘Stena Discovery’ will reach La Guaira on July 1 from will commence a service to El Guamacho in August.Read More
Laid up in Belfast since the cease of the Harwich to Hoek van Holland service in early 2007, the vessel was drydocked last month to have its Stena markings removed. The vessel then performed sea trials in which it achieved a top speed of 42 knots. The HSS 1500 catamaran was built in 1997 in Rauma. The vessel is driven by gas turbine propulsion and can carry a maximum of 1,500 passengers and 375 cars. ‘Stena Discovery’ will reach La Guaira on July 1 from will commence a service to El Guamacho in August.
Shipping tries to stay afloat
When the world economy tanked last year and global trade juddered to a halt, nothing fell further or faster than freight rates in the world shipping industry.
And within that mix of container lines, tankers and dry bulk cargoes such as iron ore, it was, not surprisingly perhaps, this last one that fared worse. In little more than six months, it fell by more than 90 per cent. Now, however, it is well off the bottom. Iron ore is moving again, as are other bulk commodities, as global industry picks itself up off the floor and begins a tentative restocking. But don't get too excited. Most of these cargoes are heading for Asia as China, in particular, benefits from a massive and unprecedented domestic economic stimulus. It is an encouraging sign, but after a long cold winter any sign of spring is encouraging and we know from long experience in this country that warm spring is no guarantee of a decent summer. That said, you would expect the shipowners and charterers at least to take comfort from what is going on.But if that is what you expected you would be wrong. At the Baltic and International Maritime Council (Bimco) shipping conference in Athens this week, where owners, users and builders meet, the mood was one of continued gloom. It turns out that of all the industries in the world facing problems of overcapacity in the face of declining demand, none is in worse shape than shipping.
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Tuesday, June 16, 2009
Product tanker ‘Overseas Nikiski’ delivered
USA: Aker Philadelphia Shipyard delivered its seventh MT-46 Veteran class product tanker to American Shipping Company on June 11.
The vessel, part of a 12 ship series, will leave the yard under the operation of OSG America and will be used to transport petroleum products for Tesoro. The 183-metre product tanker is the second of four vessels planned to be utilised by Tesoro. The vessel was named ‘Overseas Nikiski’ after the small community of Nikiski, located in the Kenai Peninsula Borough of Alaska.
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New orders for STX Offshore & Shipbuilding
Seoul: South Korea’s STX Offshore & Shipbuilding has announced a $34m order from the Agency for Defense Development for a next generation naval test ship.
The vessel, which is designed to weigh 1,200 tons and accommodate about 30 people is scheduled for delivery in May 2012. “Despite severe market conditions, good results were achieved thanks to diversified analysis on customer demands and strategic sales activities,” Do Jong-chil, director of STX O&S Specialised Ship Division, said of the naval vessel order. “We plan to enhance our capability in building specialized vessels through technical cooperation with STX Europe, and a number of inquiries on export in the defence industry, which is beneficial to development of the nation, are coming in from abroad,” he added. ‘Amid of declining orders in the market, STX continuously delivers good news of new orders of vessels for special purposes,’ the company said in a statement.
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‘Edge of a deep abyss’ for boxes
A REPORT on the container market is likely to be tough reading for the beleaguered shipping sector.
Published last week by shipping consultancy Drewry, the report painted a bleak picture: “With nearly half of the year gone, the industry is looking at the edge of a deep abyss.” Cargoes are not showing any real sign of picking up, and freight rate recovery is minimal at best. But the greatest concern is that Asian volumes were down 14.4% year on year, and those in Southeast Asia fell by 18.4%. Such figures firmly point to a continued drop in exports to the main consumer nations in Europe and the US, the study predicted, with global handling activity declining up to 10% by the end of this year. On rates, the report said carriers have failed to secure increases in eastbound trans-Pacific trade. That point supported last week’s finding by IHS Global Insight, which predicted that rates would continue to drift down.
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International Vessel
Vessels built in two or more companies are becoming routine especially in Europe.
Typically the hull is built in a lower cost area such as Poland or China and then completed in the Netherlands where costs are higher. Recently a shipyard in Turkey completed a 135 by 11.45-meter hull with a 4.25-meter molded depth for finishing in the Netherlands. The Karadeniz Shipyard is located in Ünye/Ordu, Turkey. In addition to building hulls the yard builds complete vessels of many types. Once in the Netherlands the hull was taken to the Scheepswerf Gelria in Nijmegen. Here it was completed as a twin-engined inland river vessel. In addition to installation of the superstructure five Cummins engines were installed. These included a pair of Cummins 4BT3.9-G4 powered 64 kVA generators and a QSK15-C bowthruster genset. The main engines are a two Cummins Tier 2 compliant QSK38-M engines each generating 1400 HP at 1800 RPM.
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Shipping can gain from cutting climate impact
The shipping industry has nothing to fear from reducing its pollution and climate-changing emissions and would even gain financially, according to a new study from WWF.
The report, published to coincide with the second greenhouse gas study published by the International Maritime Organisation (IMO), says shipping is responsible for almost 3% of global greenhouse gas emissions. But it says the shipping sector could reduce its climate impact by at least 20% and make financial gains.It identifies 'a significant potential' for reducing emissions through technical and operational measures which could increase efficiency and reduce emissions by 25% to 75%. It also identifies benefits that could come from emissions trading or a bunker fuel levy.Read More
The report, published to coincide with the second greenhouse gas study published by the International Maritime Organisation (IMO), says shipping is responsible for almost 3% of global greenhouse gas emissions. But it says the shipping sector could reduce its climate impact by at least 20% and make financial gains.It identifies 'a significant potential' for reducing emissions through technical and operational measures which could increase efficiency and reduce emissions by 25% to 75%. It also identifies benefits that could come from emissions trading or a bunker fuel levy.
Monday, June 15, 2009
Piracy: The global agenda
For close to two decades, the world has turned a blind eye as Somalis butchered each other and warlords called the shots in demarcated territories in Somalia.
For the rest of the world, that was none of their business, but as Somalis quickly perfected the art of hijacking ocean vessels in the high seas and demanding ransom for their safe release - thereby causing major disruptions on one of the world’s busiest shipping corridors - it has quickly become their business. And the question begs: Can the world continue to ignore the crisis in Somalia? The game changer came last year after the buccaneers hijacked a Saudi-owned oil tanker and Ukrainian vessel carrying weaponry for the Kenyan military. The audacity and the location of the hijackings deep in international waters raised the red flag for the international maritime community to a serious problem that needed urgent solutions. With the promise of green dollars raining down from the blue skies above and a lawless haven to stash away their loot, the skinny, thick-skinned, gun-totting lads from Somalia are bolder and willing to take greater risks to capture more ships. The lure of hard cash ahead and abject poverty back in their homeland being their sole driving force to venture deep into the Indian Ocean preying on ocean vessels.
For the rest of the world, that was none of their business, but as Somalis quickly perfected the art of hijacking ocean vessels in the high seas and demanding ransom for their safe release - thereby causing major disruptions on one of the world’s busiest shipping corridors - it has quickly become their business. And the question begs: Can the world continue to ignore the crisis in Somalia? The game changer came last year after the buccaneers hijacked a Saudi-owned oil tanker and Ukrainian vessel carrying weaponry for the Kenyan military. The audacity and the location of the hijackings deep in international waters raised the red flag for the international maritime community to a serious problem that needed urgent solutions. With the promise of green dollars raining down from the blue skies above and a lawless haven to stash away their loot, the skinny, thick-skinned, gun-totting lads from Somalia are bolder and willing to take greater risks to capture more ships. The lure of hard cash ahead and abject poverty back in their homeland being their sole driving force to venture deep into the Indian Ocean preying on ocean vessels.
Hebei Spirit officers head home after 550 days
Seoul: The Appeal Court of the Daejeon District Court 1st Criminal Division in Korea, has found the senior officers of the Hebei Spirit not guilty of the crime of destruction of property, following Korea’s Supreme Court ruling that the two should never have been imprisoned.
The case was referred back to the Appellate Division of the District Court on April 23 of this year by the Supreme Court, for further review when they found that the two officers could not be jailed as they were not responsible for the destruction of property, the only crime carrying a custodial sentence.The verdict will enable the two senior officers of the Hebei Spirit to return to their families in India after more than 550 days of an enforced stay in Korea, some spent in prison.
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US Prestige ruling reversed
A US appeals court has reversed the dismissal of the $1Bn suit against American Bureau of Shipping by Spain, which is seeking compensation for the 2002 sinking of the Prestige.
New York District Court Judge Laura Swain had decided in favour of class society ABS in January 2008, ruling that Spain sought damages under the International Convention on Civil Liability for Oil Pollution Damage and since the US was not a signatory, a US court had no jurisdiction. On Friday, the US 2nd Circuit Court of Appeals vacated Swain’s decision, ruling that a federal court is not necessarily deprived of jurisdiction because America had not ratified the treaty. The panel also ruled on a cross-appeal by ABS, which sought a reinstatement of counterclaims against Spain for contributory negligence. Ruling for ABS, the appeals panel remanded those claims for further proceedings.
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UK. Princess to build megayachts at South Yard Plymouth waterfront site
Princess Yachts International has signed the lease for a 15 acre (6 hectare) waterfront site at South Yard, Plymouth.
Part of the famous Devonport Naval base, this facility has been acquired to enable Princess to commence the construction of a new range of large yachts. The bespoke craft, which will be over 100 feet, are too large to be built in Princess’ existing manufacturing sites.Chris Gates, Managing Director at Princess Yachts International, said, “Acquiring this land is a significant step for the company’s future. We have been working for some time to achieve the waterfront location we require in the Plymouth area. Expanding locally has always been a priority not least because of the skilled workforce and supply chain we have established here over the years. “The South Yard site will enable us to start immediate production of a new range of large craft. We have identified this market as key for Princess to ensure its growth and long term development, helping us secure stable employment for our workforce.”Read More
Part of the famous Devonport Naval base, this facility has been acquired to enable Princess to commence the construction of a new range of large yachts. The bespoke craft, which will be over 100 feet, are too large to be built in Princess’ existing manufacturing sites.Chris Gates, Managing Director at Princess Yachts International, said, “Acquiring this land is a significant step for the company’s future. We have been working for some time to achieve the waterfront location we require in the Plymouth area. Expanding locally has always been a priority not least because of the skilled workforce and supply chain we have established here over the years. “The South Yard site will enable us to start immediate production of a new range of large craft. We have identified this market as key for Princess to ensure its growth and long term development, helping us secure stable employment for our workforce.”
Dry bulk market bounces back
The Baltic Dry Index managed to recover some of its losses, by the end of the previous week, regaining some ground.
Friday it gained another 100 points to finish the week at 3,583 points, down from the high of 4,291 points, reached just 10 days ago. According to Weberseas latest weekly report, “the indices continued their slide for the best part of the week however, by Thursday it was evident that this downturn would be short lived as the caper and panamax indices moved upwards and continued with strong gains on Friday. Even though on a week-to-week basis all of the indices were in the red the market is showing resilience in that downturns are short lived” the broker said. Another indication of the dry bulk market faring better is the number of transactions moving forward in the sale & purchase market for second hand vessels. According to brokers, there is an abundance of purchase enquiries, not to mention deals going through. “No matter what vessel is placed in the market for sale there are now buyers enquiring, inspecting and offering and more and more owners are taking this opportunity of capitalizing and cashing-in at ever increasing price levels” said Weberseas.
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Sunday, June 14, 2009
Progress in UK on port rates and light dues
Progress has been made in the UK this week with regard to one of the two hugely contentious issues of importance facing port operations and at least some clarification has arrived for the other.
Port based businesses, which have been lobbying for over a year against the unfair imposition of crippling backdated rates by the Government’s Valuation Office Agency (VOA), are celebrating a major success for their cause, following Tuesday’s vote in the House of Lords, which accepted amendments to the Business Rates Supplements Bill. And yesterday the Government’s new Shipping Minister, Paul Clark announced the new rates for light dues for the next two years. The Business Rates Supplements Bill amendments, which were drafted by Andrew Finfer, a rating expert with Yorkshire law firm Schofield Sweeney, on behalf of the Humber Docks and Mersey Dock Rating Groups, accept the principle of no backdating without fault. Errors in rating evaluations should be borne by those responsible for the errors. There should be no backdating increase of business rates if the increase is not the fault of the business.Read More
Port based businesses, which have been lobbying for over a year against the unfair imposition of crippling backdated rates by the Government’s Valuation Office Agency (VOA), are celebrating a major success for their cause, following Tuesday’s vote in the House of Lords, which accepted amendments to the Business Rates Supplements Bill. And yesterday the Government’s new Shipping Minister, Paul Clark announced the new rates for light dues for the next two years. The Business Rates Supplements Bill amendments, which were drafted by Andrew Finfer, a rating expert with Yorkshire law firm Schofield Sweeney, on behalf of the Humber Docks and Mersey Dock Rating Groups, accept the principle of no backdating without fault. Errors in rating evaluations should be borne by those responsible for the errors. There should be no backdating increase of business rates if the increase is not the fault of the business.
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