Monday, February 23, 2009

Maintenance work boat from Shin Yang

Malaysian firm Ajang Shipping recently took delivery of a maintenance work boat from the Shin Yang Shipyard in Miri, Sarawak, East Malaysia.

The 75-metre by 20-meter ‘Ajang Haidah’ has a moulded depth of 6.5 meters with a five-metre design draughtDesigned by Conan Wu & Associates of Singapore, the new vessel is powered by a pair of 16-cylinder Cummins KTA50-M2 main engines each developing 1,340kW at 1,900rpm. The engines turn fixed pitch four-blade 2100mm by 1512mm propellers through Reintjes WAF664 gears with ratios of 5.044:1. This gives the vessel a speed of eleven knots.The vessel’s main gensets are three Cummins KTA19DM1-powered generators each rated 360KW at 50 Hz. The emergency genset is a Cummins 6CTA8.3DM-powered 150Kw generator. A 155kW Cummins 6BT5.9 engine powers the vessel’s fire pump. A 600kW Cummins VTA28DM engine generates power for the boat’s bow thruster.
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Shengli starts Puguang work

China's Shengli Engineering & Consulting has started the basic engineering on the gas gathering systems needed for Sinopec's Puguang gas field in Sichuan province.

China's Shengli Engineering & Consulting has started the basic engineering on the gas gathering systems needed for Sinopec's Puguang gas field in Sichuan province. The gas gathering scheme is scheduled for completion in 2010 with processing capacity of 3.7 billion cubic metres per annum of sour gas, of which 2.8 Bcm per year will be sold locally in Sichuan and Chongqing and also to Shanghai, Jiangsu, Zhejiang, Anhui and Hubei provinces, said Shengli Engineering.
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Low ship prices a bargain, but few ship owners can afford them

The lack of financing is the main reason behind the diminishing number of deals in the second hand market for ships, as evident by the low numbers of vessels changing hands.

According to figures compiled by Allied & Shipbroking, from the beginning of the year Greek ship owners have invested a mere $266 million, when during the same period of the previous year they had put down a whopping $1.3 billion. Owners have bought only 13 ships through the second hand market, against 25 vessels bought one year ago. As one can notice, the double number of ships of last year required almost nine times more money, which is a further testament to the drop in values. While Greek owners are keener in dry bulk carriers, investing $217 million for them, against only $48 million for tankers, US buyers are opting for the opposite direction. From the beginning of 2009, they have invested $219 million for tankers and only $2.65 million for dry tonnage. The second hand market at the moment presents solid investment opportunities, with values plunging as much as 50% on average in the dry bulk segment. The drop is even higher in older dry bulk tonnage reaching a massive 75 percent. But with the recent rebound of the freight market, with the BDI now exceeding 2000 points, even older vessels can achieve respectable earnings, thus rendering them a rather safe bet among investors. So far thought, it is mainly Chinese who are rather active in securing older tonnage, according to reports by shipbroker George Moundreas & Co.
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Wallem first to achieve SAS 70 certification

Hong Kong: Wallem Shipmanagement has become the world’s first third party ship management company to achieve SAS 70 certification, receiving accreditation for what the company described in a statement as ‘arguably the toughest process control standards.’

SAS 70 certification is the result of an in-depth audit examination of the effectiveness of a service organisation’s internal controls. Wallem Shipmanagement’s examination included crew management and procurement processes. Certification was achieved on 11 February 2009. Companies listed in the US are required to comply with the terms of the Sarbanes-Oxley Act (SOX) of 2002. SAS 70 certification is important to those companies using the services of Wallem Shipmanagement, as it gives the client independent assurances on the adequacy of internal controls and processes.
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Oil Recovery Ops off the Irish Coast

In the afternoon on Tuesday 17th February, the Irish authorities decided to request assistance from the European Maritime Safety Agency (EMSA) to combat an oil spill initially detected by EMSA’s CleanSeaNet service 50 miles southeast of Fastnet Rock off the West Cork coast.

As a result, the EMSA contracted vessel Galway Fisher has been mobilized and will be in Cork on standby. The alert was provided by the CleanSeaNet European oil spill detection service of EMSA on Saturday 14th February. The image, on the basis of which the Irish authorities learned about this spill, is one of the routine images acquired by CleanSeaNet for EU Member States. On 14th February, the oil spill was detected approximately 50 miles southeast of Fastnet Rock off the West Cork coast of Ireland. It has been reported that there were Russian vessels in the area. The spill is estimated to be 400-500 tonnes of oil. The spill was originally spread over an area encompassing four miles by five miles.
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