The company's DUO WEC converter concept aims to improve the efficiency with which energy is captured from the sea by harnessing power from the vertical and horizontal motion of waves. The funding will be used to conduct mathematical modeling, carry out a series of tank tests and produce design drawings for a prototype. In the long term, Pure Marine Gen plans to develop devices with a capacity of over 2 MW each. When deployed in large arrays, these could have a generating capacity of over 500 MW.The Carbon Trust is looking for other technologies with significant carbon saving potential to receive up to GBP 500,000 (US$716,948) of grant funding through its Applied Research scheme. Three open calls are held each year, with the current deadline April 16.
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Monday, March 30, 2009
Carbon Trust gives funding to Pure Marine Gen
BELFAST, UK: U.K. government-backed company the Carbon Trust has awarded Belfast-based company Pure Marine Gen over GBP 153,000 (US$219,368) to accelerate development of its wave energy converter.
US deploys anti-missile ships before N.Korea launch
SEOUL - The United States plans to deploy two missile-interceptor ships from South Korea on Monday, a military spokesman said, days ahead of a North Korean rocket launch seen by many as a test of its longest-range missile.
The launch presents the first significant challenge by the prickly state to U.S. President Barack Obama, who makes his first major international appearance this week at the G-20 summit where he will discuss Pyongyang’s intentions with global leaders including Chinese President Hu Jintao. The United States, however, has no plans to shoot down the rocket in a test seen by Washington as part of Pyongyang’s goal to eventually develop an intercontinental ballistic missile, U.S. Defence Secretary Robert Gates said on Sunday. “I would say we’re not prepared to do anything about it,” Gates said on “Fox News Sunday”. “If we had an aberrant missile, one that looked like it was headed for Hawaii, we might consider it,” he said, adding the Pentagon does not believe North Korea can put a warhead on the missile or reach the U.S. West Coast.U.S. Forces Korea plans to dispatch two Aegis-equipped destroyers currently at the South Korean port of Busan, a spokesman said without offering further details. Local media quoted informed sources as saying the vessels with sophisticated radar will monitor the launch. Japan deployed two missile-intercepting vessels to waters off its west coast at the weekend. The North Korean rocket is supposed to drop booster stages to the east and west of Japan. Government officials said Tokyo is poised to shoot down debris that poses a threat to its public.Read More
The launch presents the first significant challenge by the prickly state to U.S. President Barack Obama, who makes his first major international appearance this week at the G-20 summit where he will discuss Pyongyang’s intentions with global leaders including Chinese President Hu Jintao. The United States, however, has no plans to shoot down the rocket in a test seen by Washington as part of Pyongyang’s goal to eventually develop an intercontinental ballistic missile, U.S. Defence Secretary Robert Gates said on Sunday. “I would say we’re not prepared to do anything about it,” Gates said on “Fox News Sunday”. “If we had an aberrant missile, one that looked like it was headed for Hawaii, we might consider it,” he said, adding the Pentagon does not believe North Korea can put a warhead on the missile or reach the U.S. West Coast.U.S. Forces Korea plans to dispatch two Aegis-equipped destroyers currently at the South Korean port of Busan, a spokesman said without offering further details. Local media quoted informed sources as saying the vessels with sophisticated radar will monitor the launch. Japan deployed two missile-intercepting vessels to waters off its west coast at the weekend. The North Korean rocket is supposed to drop booster stages to the east and west of Japan. Government officials said Tokyo is poised to shoot down debris that poses a threat to its public.
Cruise contract uncertainties rock STX Europe
The current economic environment is causing uncertainties pertaining to contracts signed for cruise ships to be built at STX Europe.
In March 2008, the Royal Caribbean Group signed an initial contract to build the fourth 158,000GT vessel for the fleet’s Freedom-class. However it now seems that the likelihood of this becoming a firm order is slim. “The prospects of this agreement becoming a firm contract is considered less likely than when the understanding was announced in March 2008,” said a statement issued by the yard. “STX Europe’s customers are generally financially sound and nearly all projects in the company’s portfolio already have secured financing; however, in the current economic environment and with uncertain market prospects, the risk of defaults on payments for project deliveries cannot be ruled out.”
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Guangzhou shipyard merger called off
Hong Kong: China's Guangzhou Shipyard International Co said on Friday it will call off a proposed $445 million acquisition of a shipyard from its state-owned parent as its shares have slumped in the global financial crisis.
The company's board also approved dropping a planned rights issue, it said in a statement.Guangzhou Shipyard, controlled by China State Shipbuilding Corp (CSSC), said in July it was the sole qualified bidder for Guangzhou Wenchong Shipbuilding Ltd, and would pay 3.04 billion yuan ($445 million) for the asset. It planned to fund the acquisition through a rights issue.
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World Trade Volume Will Fall 9% in 2009
2009 proves to be a tough year so far for the shipping industry and especially the dry bulk shippers as the world recession hammered the trade of commodities and exporting goods from Asia and the rest of developing world.
At the same time, consumption has been reduced at the developed nations, something that leads to less imports of goods and products. According to the World Trade Organization world merchandise trade is likely to fall some 9% in volume terms in 2009 with developed economy exports falling by some 10% on average and developing country exports shrinking by 2—3%. These are bad news for the world’s shippers, as international shipping transports about 90% of world trade by volume. Without shipping, intercontinental trade, the bulk transport of raw materials and the import/export of affordable food and manufactured goods would simply not be possible, but at the same time the fall of cargoes plagues the industry. WTO analysts underline that a normal pattern for a recession, where trade falls, remains weak for a time and then resumes its upward trajectory and begins to return to its previous trend. If that scenario is correct, that means we are in the heart of recession, but the future looks more bright.Trade prospects for 2009 are heavily conditioned by the financial crisis that began almost two years ago in the United States.Read More
At the same time, consumption has been reduced at the developed nations, something that leads to less imports of goods and products. According to the World Trade Organization world merchandise trade is likely to fall some 9% in volume terms in 2009 with developed economy exports falling by some 10% on average and developing country exports shrinking by 2—3%. These are bad news for the world’s shippers, as international shipping transports about 90% of world trade by volume. Without shipping, intercontinental trade, the bulk transport of raw materials and the import/export of affordable food and manufactured goods would simply not be possible, but at the same time the fall of cargoes plagues the industry. WTO analysts underline that a normal pattern for a recession, where trade falls, remains weak for a time and then resumes its upward trajectory and begins to return to its previous trend. If that scenario is correct, that means we are in the heart of recession, but the future looks more bright.Trade prospects for 2009 are heavily conditioned by the financial crisis that began almost two years ago in the United States.
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