In its latest new building report, shipbroker George Moundreas & Co. commented that this development is normal, since the perception of a huge number and volume of the global orderbook hinder any thought of owners heading back at shipyards. Indeed, the report once was full of contracted vessels, up to 40 on a monthly basis, especially during 2006-2007 with bulk carriers proving the most popular. The report also states that most banks appear reluctant to finance such new deals. The problem that the market faces is the lack of information regarding the number of order cancellations, or delays in deliveries. Both ship owners and shipyards are silent, since nobody is to benefit from that kind of publicity. Of course, this isn’t the case for publicly-traded companies, which are obliged to report such agreements. So, what can be said with some degree of certainty, regards contracts with no financing backing, as well as that a respectable number of containerships which the market can’t handle. The report says that the market is headed towards some form of balance, though through slow and painful processes. This combined with some freight market upswings could lead to a normalization of the current troublesome picture.
Friday, May 8, 2009
Ship owners still reluctant to commit new ship orders
Hellenic shipping companies are refraining from placing any new building orders for almost seven months now, in an attempt to limit potential oversupply of vessels, at a time when financing is scarce and the freight markets’ prospects appear grim, together with the global economical environment.
In its latest new building report, shipbroker George Moundreas & Co. commented that this development is normal, since the perception of a huge number and volume of the global orderbook hinder any thought of owners heading back at shipyards. Indeed, the report once was full of contracted vessels, up to 40 on a monthly basis, especially during 2006-2007 with bulk carriers proving the most popular. The report also states that most banks appear reluctant to finance such new deals. The problem that the market faces is the lack of information regarding the number of order cancellations, or delays in deliveries. Both ship owners and shipyards are silent, since nobody is to benefit from that kind of publicity. Of course, this isn’t the case for publicly-traded companies, which are obliged to report such agreements. So, what can be said with some degree of certainty, regards contracts with no financing backing, as well as that a respectable number of containerships which the market can’t handle. The report says that the market is headed towards some form of balance, though through slow and painful processes. This combined with some freight market upswings could lead to a normalization of the current troublesome picture.Read More
In its latest new building report, shipbroker George Moundreas & Co. commented that this development is normal, since the perception of a huge number and volume of the global orderbook hinder any thought of owners heading back at shipyards. Indeed, the report once was full of contracted vessels, up to 40 on a monthly basis, especially during 2006-2007 with bulk carriers proving the most popular. The report also states that most banks appear reluctant to finance such new deals. The problem that the market faces is the lack of information regarding the number of order cancellations, or delays in deliveries. Both ship owners and shipyards are silent, since nobody is to benefit from that kind of publicity. Of course, this isn’t the case for publicly-traded companies, which are obliged to report such agreements. So, what can be said with some degree of certainty, regards contracts with no financing backing, as well as that a respectable number of containerships which the market can’t handle. The report says that the market is headed towards some form of balance, though through slow and painful processes. This combined with some freight market upswings could lead to a normalization of the current troublesome picture.
Yemen LNG set to roll out first shipment
Yemen LNG expects to make the first shipment from its new gas liquefaction plant in July or August, the company's chief executive said.
Joel Fort, chief executive and general manager, said the project will come on line four months late for a little over $4 billion, 15% above planned cost, which he said was a success. He commented on the sidelines of the Offshore Technology Conference in Houston. "We are now in pre-start-up mode, so we have already started, for instance, all the electrical generation," Fort said. "All the utilities have been transferred to the operations people. One-third of the process train is now in the hands of the operations, as well," he said. Start-up of the first train will be fully underway by the end of June in preparation for first cargo, he said. A second train will come on line about five months after the first, bringing the plant to full capacity of 6.7 million tonnes per year, Fort said. Yemen's first LNG has been sold under take-or-pay contracts to Total, GDF Suez and Korea Gas Corporation, but it is coming into a weak market.Read More
Joel Fort, chief executive and general manager, said the project will come on line four months late for a little over $4 billion, 15% above planned cost, which he said was a success. He commented on the sidelines of the Offshore Technology Conference in Houston. "We are now in pre-start-up mode, so we have already started, for instance, all the electrical generation," Fort said. "All the utilities have been transferred to the operations people. One-third of the process train is now in the hands of the operations, as well," he said. Start-up of the first train will be fully underway by the end of June in preparation for first cargo, he said. A second train will come on line about five months after the first, bringing the plant to full capacity of 6.7 million tonnes per year, Fort said. Yemen's first LNG has been sold under take-or-pay contracts to Total, GDF Suez and Korea Gas Corporation, but it is coming into a weak market.
Jousset, Julien Finalists in Superyacht Awards
The designer Adrien Jousset (ASK Yacht Design) and naval architect Sylvain Julien (BMT Nigel Gee), have been selected as one of five finalists in the World Superyacht Awards, Young Designer of the Year 2009 for the Ostria design.
The high standard of entries presented the judges with no easy task in selecting the finalists,” stated Trevor Blakeley, Chief Executive of The Royal Institution of Naval Architects and Chairman of the judging panel. “The judges were impressed by the effort and quality of work presented, reflecting the undoubted talent of today’s young naval architects and marine designers, which surely bodes well for the future of the industry.” Ostria not only has a radical look but has also been developed to provide an answer to an environmentally conscious owner. Throughout the project the focus has been set on producing a realistic and feasible solution to reduce the environmental impact of a Superyacht. Early in the project it appeared that a carbon free propulsion system was unrealistic. The power production capacity required to propel a 230 ft monohull to any decent speed across an ocean is far too demanding compared to any means of renewable, carbon free, energy production. Even the hotel load requirement could not be answered properly with such solutions unless a significant volume of the yacht was dedicated to this purpose.Read More
The high standard of entries presented the judges with no easy task in selecting the finalists,” stated Trevor Blakeley, Chief Executive of The Royal Institution of Naval Architects and Chairman of the judging panel. “The judges were impressed by the effort and quality of work presented, reflecting the undoubted talent of today’s young naval architects and marine designers, which surely bodes well for the future of the industry.” Ostria not only has a radical look but has also been developed to provide an answer to an environmentally conscious owner. Throughout the project the focus has been set on producing a realistic and feasible solution to reduce the environmental impact of a Superyacht. Early in the project it appeared that a carbon free propulsion system was unrealistic. The power production capacity required to propel a 230 ft monohull to any decent speed across an ocean is far too demanding compared to any means of renewable, carbon free, energy production. Even the hotel load requirement could not be answered properly with such solutions unless a significant volume of the yacht was dedicated to this purpose.
Seychelles asks for naval protection from marauding Somali pirates
Officials on the tourist paradise set of islands called Seycheles in the Indian Ocean asked for protection after reports the bandits had moved away from the Gulf of Aden since western governments dispatched patrol vessels to challenge them, the UK's Daily Telegraph reported.
India sent one ship two weeks ago following an urgent request from the Seychelles, but Navy commanders have now sent a better-equipped vessel to replace it following the spate of recent attacks. The attacks, which targeted a British-owned cargo vessel with a Ukrainian crew, and a French warship, took place inside the Seychelles' Exclusive Economic Zone. India believes the pirates chose the Seychelles because it is relatively unguarded – it has just one fast patrol vessel with attack capability, which was in India undergoing repairs. An Indian Navy officer said he believed the pirates were shifting their base to the Seychelles because its government did not have the resources to stop them. The pirates can reach the closest Seychelle Island in just over a day from Mogadishu – it is just 670 nautical miles. Seatrade Asia Online caught up with a well-known Hong Kong shipowner two weeks ago who spoke about one of his ships had been attacked twice in the space of six weeks. The first attack happened 500 nautical miles from the Somali coast and the second was 900 nautical miles away.
Read More
Latest Robert Allan-designed tug ‘Pilbara Thor’
The ‘Pilbara Thor’ is the latest of the RAmparts 3200-class tugs to be built from a design by Robert Allan, Vancouver, Canada.
Delivered by New Zealand-based Shipco Marine Constructors in December 2008, ‘Pilbara Thor’ is the first of two new terminal support tugs for Australia’s Rio Tinto. The vessel entered service at the Pilbara ore terminal near Dampier, Australia in January. Robert Allan worked closely with the Rio Tinto’s representatives, Trevor Cosh and Associates and Edwards Marine Services to establish the final specification and vessel layout for the demanding service of this 32-metre by 11.6-metre tug. The hull form reflects the double chine form that characterises all Robert Allan designs, with a sweeping "chined" stern. A large escort skeg is fitted forward to enhance the indirect towing capability and to provide enhanced roll stability.Read More
Delivered by New Zealand-based Shipco Marine Constructors in December 2008, ‘Pilbara Thor’ is the first of two new terminal support tugs for Australia’s Rio Tinto. The vessel entered service at the Pilbara ore terminal near Dampier, Australia in January. Robert Allan worked closely with the Rio Tinto’s representatives, Trevor Cosh and Associates and Edwards Marine Services to establish the final specification and vessel layout for the demanding service of this 32-metre by 11.6-metre tug. The hull form reflects the double chine form that characterises all Robert Allan designs, with a sweeping "chined" stern. A large escort skeg is fitted forward to enhance the indirect towing capability and to provide enhanced roll stability.
ShipTek 2009, a Grand Success!
ShipTek 2009 with eminent maritime personalities from round the world proved to be a tremendous success enhancing the potential prospects of marine world.
With the entire maritime industry under one roof, ShipTek 2009 made a remarkable record with the magnificent 3rd International Maritime Video & Excellence Awards and Launch of Marine BizTV in South East Asia held at Raffles Ballroom Swissôtel - The Stamford yesterday. The event sailed off with yet another splendid note, announcing ShipTek 2010 at Dubai which obviously promises to be a bigger success and sensation to the Marine World.
ShipTek 2009, organized by BizTV Events had dropped anchor on the shores of 'Lion City' on 6th & 7th of May at Sing Expo, Singapore with 2 day international conference, ShipTek Expo 2009, 3rd International Maritime Video & Excellence Awards and the Launch of Marine BizTV in South East Asia. The International Conference on Technology Revolution in Marine and Offshore Industry was inaugurated by Mr. Noboru Ueda, Chairman and President, Class NK, the ship classification society while the award nite by Mr Bjorn Swensson, Chairman of the board of Berg Propulsion, the leading manufacturer of controllable pitch propellers. Bestowed by innumerable sponsors including Berg Propulsion, Titanium Tantalum Products Ltd, Class NK, Goltens, Mandovi Drydocks, MSI, MTU, Mari-Time, NASCO, Gulf Marine, Germanischer Lloyd, Hyundai Heavy Industries supported by Cinta Asia, Profiters International, Seagull Marine and other prestigious media partners, ShipTek 2009 was the most happening sensation of maritime industry. The inaugural edition of ShipTek, the flagship event of Marine BizTV was the first ever maritime event to be witnessed live globally. Following the tradition, ShipTek 2009 was telecasted live exclusively www.live.marinebiztv.com
Read More
With the entire maritime industry under one roof, ShipTek 2009 made a remarkable record with the magnificent 3rd International Maritime Video & Excellence Awards and Launch of Marine BizTV in South East Asia held at Raffles Ballroom Swissôtel - The Stamford yesterday. The event sailed off with yet another splendid note, announcing ShipTek 2010 at Dubai which obviously promises to be a bigger success and sensation to the Marine World.
ShipTek 2009, organized by BizTV Events had dropped anchor on the shores of 'Lion City' on 6th & 7th of May at Sing Expo, Singapore with 2 day international conference, ShipTek Expo 2009, 3rd International Maritime Video & Excellence Awards and the Launch of Marine BizTV in South East Asia. The International Conference on Technology Revolution in Marine and Offshore Industry was inaugurated by Mr. Noboru Ueda, Chairman and President, Class NK, the ship classification society while the award nite by Mr Bjorn Swensson, Chairman of the board of Berg Propulsion, the leading manufacturer of controllable pitch propellers. Bestowed by innumerable sponsors including Berg Propulsion, Titanium Tantalum Products Ltd, Class NK, Goltens, Mandovi Drydocks, MSI, MTU, Mari-Time, NASCO, Gulf Marine, Germanischer Lloyd, Hyundai Heavy Industries supported by Cinta Asia, Profiters International, Seagull Marine and other prestigious media partners, ShipTek 2009 was the most happening sensation of maritime industry. The inaugural edition of ShipTek, the flagship event of Marine BizTV was the first ever maritime event to be witnessed live globally. Following the tradition, ShipTek 2009 was telecasted live exclusively www.live.marinebiztv.com
Read More
Subscribe to:
Posts (Atom)
