The memorandum of understanding, announced Monday, calls for the port administration and the Panama Canal to launch joint efforts on marketing and information-sharing. The Panama Canal is expected to play a more important role in trade between Asia and the East Coast after a project to expand the waterway is completed in 2014. Maryland is seeking a private partner to help finance the creation of a 50-foot berth at Seagirt Marine Terminal to accommodate the large ships that will then be able to use the canal.
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Wednesday, June 3, 2009
Port of Baltimore makes deal with Panama Canal
The Maryland Port Administration has reached an agreement with the agency that runs the Panama Canal to work together to promote use of an all-water route between the Pacific Ocean and the Port of Baltimore.
Dockstavarvet delivers ‘LOS 118’
Norway: Dockstavarvet has delivered the new pilot boat ‘LOS 18’ to the Norwegian Coastal Administration’s Ålesund Pilot Station.
‘LOS 118’ features a new configuration that reduces its fuel consumption by 25 percent. When Dockstavarvet delivered ‘LOS 116’ (Yard No 551), to the Norwegian Coastal Administration in May 2008, the boat fulfilled all requirements regarding seakeeping, operational characteristics and comfort. However, with a full load displacement of 38 tonnes and oil prices peaking in mid 2008, fuel cost became worrying. ‘LOS 116’ is fitted with a quite heavy propulsion system of two 720kW engines with CP propellers giving a service speed of 27 knots. Before executing an option for four more units of the same type the customer ordered a review of the design aiming to reduce fuel consumption. Docksta’s design team soon found out that switching to Volvo-Penta’s D16 engines at Rating 2 with Twin Disc Quick Shift gearboxes and FP propellers would reduce weight by three tonnes plus another tonne on piping and auxiliary systems. One more tonne was shaved off from other equipment bringing the total weight saving to five tonnes. The preliminary calculations indicated that the same speed could be achieved with a reduction in fuel consumption of 25 percent.
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‘LOS 118’ features a new configuration that reduces its fuel consumption by 25 percent. When Dockstavarvet delivered ‘LOS 116’ (Yard No 551), to the Norwegian Coastal Administration in May 2008, the boat fulfilled all requirements regarding seakeeping, operational characteristics and comfort. However, with a full load displacement of 38 tonnes and oil prices peaking in mid 2008, fuel cost became worrying. ‘LOS 116’ is fitted with a quite heavy propulsion system of two 720kW engines with CP propellers giving a service speed of 27 knots. Before executing an option for four more units of the same type the customer ordered a review of the design aiming to reduce fuel consumption. Docksta’s design team soon found out that switching to Volvo-Penta’s D16 engines at Rating 2 with Twin Disc Quick Shift gearboxes and FP propellers would reduce weight by three tonnes plus another tonne on piping and auxiliary systems. One more tonne was shaved off from other equipment bringing the total weight saving to five tonnes. The preliminary calculations indicated that the same speed could be achieved with a reduction in fuel consumption of 25 percent.
MISC container vessel transformed into anti-pirate naval auxiliary
Kuala Lumpur: Malaysian shipping company MISC has turned one its feeder ships into an auxiliary naval vessel for combating Somali pirates, writes Anderimar Shipping News.
The move follows last year's hijacking of MISC tankers Bunga Melati Dua and Bunga Melati 5 in the gulf. A company statement says: “MISC Berhad, in collaboration with the Royal Malaysian Navy (RMN) and the National Security Council (NSC), has successfully modified its container ship Bunga Mas Lima into a RMN Auxiliary Vessel for the purpose of escorting and protecting MISC's ships sailing through the Gulf of Aden.”The 699teu Bunga Mas Lima, is the first Malaysian merchant ship to be modified as an Auxiliary Vessel and is first such conversion reported in connection with the build-up of warships from many countries off the Somali coast.
The move follows last year's hijacking of MISC tankers Bunga Melati Dua and Bunga Melati 5 in the gulf. A company statement says: “MISC Berhad, in collaboration with the Royal Malaysian Navy (RMN) and the National Security Council (NSC), has successfully modified its container ship Bunga Mas Lima into a RMN Auxiliary Vessel for the purpose of escorting and protecting MISC's ships sailing through the Gulf of Aden.”The 699teu Bunga Mas Lima, is the first Malaysian merchant ship to be modified as an Auxiliary Vessel and is first such conversion reported in connection with the build-up of warships from many countries off the Somali coast.
Newfield makes two discoveries in Gulf of Mexico
HOUSTON: Newfield Exploration Company (NYSE: NFX) has made two discoveries this year in the deepwater Gulf of Mexico, Pyrenees and Winter. Both wells were drilled by Diamond Offshore semisubmersible Ocean Star.
The Pyrenees discovery in 2,100 feet (640 m) of water on Garden Banks Block 293 encountered around 125 feet (38 m) of net hydrocarbon pay in three separate intervals. The well was temporarily abandoned and the partners are working on field development plans. Delineation drilling is planned for the second half of 2009. Newfield operates Pyrenees with 40 percent working interest. Additional partners include Stone Energy Corp., Ridgewood Energy Corp., Arena Exploration and Deep Gulf Energy, each with 15 percent interest.
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MR product tankers earning more than VLCCs
Even though MR product tankers cost three times less than VLCCs, the smaller vessels have been earning more than the supertankers in western markets, and there are fundamental factors driving product tanker rates higher and VLCC rates lower.
There has been a significant dip in cargoes for VLCCs and other types of crude carriers on the back of OPEC cuts in their crude output.“OPEC is supposedly trying its best to cut 4.2 million barrels per day (bpd) from the market. Full compliance is equivalent to at least two VLCCs out of a job every day,” said one broker to Tankerworld.“However, the same downturn in trade is not necessarily the case for products, where the interaction between regional refinery throughput and oil demand can lead to substantial arbitrage trades taking place,” said Gibson.According to Gibson, the Atlantic basin gasoline market is a good example of this, “with European exports pressurizing US refinery margins to such as extent that US refiners have had to cut throughput.”“However, US gasoline demand has started to pick up seasonally with the driving season now under-way. These factors, along with recent refinery outages, have led to US gasoline stocks falling sharply to levels lower than a year ago, which in turn has supported the market and given rise to increases in gasoline trade from NW Europe to the US.“Add to this more gasoline trade to West Africa and Mexico, along with congestion in NW Europe and there has been enough activity to push the MR market much higher over the past 4-5 weeks,” Gibson said.
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