Seoul: The Transpacific Stabilization Agreement has requested the Federal Maritime Commission to permit the discussion agreement's members to discuss and agree on management of carrier capacity in the eastbound trans-Pacific trade, writes The Journal of Commerce Online.
The TSA on Dec. 18 filed an amendment to its agreement on file with the FMC. The amendment would give members the authority to discuss and agree on "cost savings and more efficient use of vessel and equipment assets and networks." Under the amendment, this would be done through "coordination of the members' capacity plans, layup, drydocking, or other off-hiring of vessels, rationalization of vessels and/or vessel capacity operated, or planned to be operated...or of feeder vessels." The proposed cooperation also would cover space charters among TSA members. The TSA's 14 members carry about 85% of containerised cargo in the Asia-to-U.S. trade. The group's members are APL, China Shipping Container Lines, CMA CGM, Cosco, Evergreen, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, Mediterranean Shipping Co., NYK Line, Orient Overseas Container Line, Yang Ming Line and Zim Integrated Shipping Services. The expanded cooperation is a sign of TSA members' difficulties. Carriers have been hit by slowing volumes and an increase in capacity resulting from deliveries of scores of large, new ships. Last October, the TSA issued a forecast saying that cargo demand for 2008 could fall by as much as 8%, and that a turnaround wasn't likely until the second half of this year. More recent forecasts by industry leaders have been even more pessimistic. The TSA's capacity management amendment, scheduled to take effect February 1, could be controversial. In the mid-Nineties, cargo interests objected vehemently to capacity management by rate-setting conferences, especially in the trans-Atlantic trade.
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Wednesday, January 7, 2009
Van Gogh heavy lift project completed
In the Exmouth sub-basin, offshore Northwest Australia, Apache Energy is developing the Van Gogh oilfield on behalf of a joint venture of the same name.
As part of the Vincent field, it lies in water depths of 340 to 370 meters. An FPSO will be used for production and storage of the oil. The FPSO will be moored to a disconnectable turret-mooring (DTM) buoy, moored to the seabed with nine anchors. Flexible flowlines, which connect to two subsea manifolds and the production wellheads, will be attached to the buoy. In the event of storms or cyclones, the FPSO will be able to disconnect from the buoy and sail to calmer waters. The offshore installation contractor for the Van Gogh project, Acergy Australia, has asked Jumbo of the Netherlands to take care of the transportation of the massive DTM buoy from Singapore to the Exmouth gulf, delivering sub-sea equipment to the subsea installation vessel ‘Toisa Proteus’, and demobiliding equipment from the ‘Toisa Proteus’ to Singapore. Beside the normal engineering procedure, additional brainwork was required in the preparation phase of the project. Lifting the DTM buoy was only possible from the top, using a single point connection. A special lifting device to suspend the “ball tool” was designed in-house and manufactured under supervision of Jumbo in Singapore.
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As part of the Vincent field, it lies in water depths of 340 to 370 meters. An FPSO will be used for production and storage of the oil. The FPSO will be moored to a disconnectable turret-mooring (DTM) buoy, moored to the seabed with nine anchors. Flexible flowlines, which connect to two subsea manifolds and the production wellheads, will be attached to the buoy. In the event of storms or cyclones, the FPSO will be able to disconnect from the buoy and sail to calmer waters. The offshore installation contractor for the Van Gogh project, Acergy Australia, has asked Jumbo of the Netherlands to take care of the transportation of the massive DTM buoy from Singapore to the Exmouth gulf, delivering sub-sea equipment to the subsea installation vessel ‘Toisa Proteus’, and demobiliding equipment from the ‘Toisa Proteus’ to Singapore. Beside the normal engineering procedure, additional brainwork was required in the preparation phase of the project. Lifting the DTM buoy was only possible from the top, using a single point connection. A special lifting device to suspend the “ball tool” was designed in-house and manufactured under supervision of Jumbo in Singapore.
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Tuesday, January 6, 2009
Fugro to study east African waters
The combined contracts are the largest award to Fugro Global Environmental & Ocean Sciences Ltd. in the region and will provide environmental data for the planning and design of oil and gas companies.The first contract involves a one-year current measurement project with moorings in up to 5,577 feet (1,700 m) water off the Tanzania coast for Ophir Energy, an Africa-focused oil and gas exploration and production company.
StatoilHydro Kicks Off Drilling at Gjoa, Plans to Tie-In Vega Satellites
The Transocean Searcher drilling rig has started drilling the first of a total of 13 production wells on the Gjoa field in the
"The first well to be drilled on Gjoa is an appraisal well in the northern segment," said vice president Kjetel Digre. "The information gathered here will be important when we are going to look at the overall plan for wells and drainage strategy for Gjoa."
Dry bulk market shows signs of recovery
THE dry bulk market slump is expected to continue into this quarter due to the uncertainties in demand of iron ore transportation although it has shown slight signs of revival in mid-December.
Last year, the Baltic Dry Index (BDI), the barometer of shipping cost for commodities, fell 93.4% from its peak of 11,793 points on May 20 to 774 points on Dec 24. From its lowest point of 663 points on Dec 5, the BDI had shown marginal increase of 26.1% to 836 points on Dec 17. This was then supported by the sentiment of iron ore demand.
Mermaid Marine cans deal on global woe
Offshore Services Outfit Mermaid Marine Australia has binned a deal to buy a new anchor handling tug support vessel slated for delivery this month citing the current poor global economic environment and movement in the Australian Dollar exchange rate.
The company was going to pay $18.2 million for the ship that would form part of its core spot market fleet, however Mermaid feels it is more appropriate to charter vessels to supplement its fleet at this time.
Tanker industry avoiding crisis: For how long?
It seems as if shipping is divided in two separate camps these days.
On one side there is dry bulk with its massive ups and downs, now resting near all-time lows, without any “desire” to pick up. The Baltic Dry Index (BDI) began 2009 almost without any turbulences, staying put at 772 points, dropping by one point in the last couple of sessions. On the other side, there is the tanker market, which resurged from its ashes during 2008, managing to post average rates of near records. According to a report compiled by Allied & Shipbroking ship owners of Suezmaxes managed to earn an average daily rate of $67,200, while those with Aframaxes earned a daily average of $49,800, higher than ever before Similarly, VLCCs ended the year with an average daily charter rate of $88,400, which is almost at the record levels of 2004, when each of these sea “giants” topped daily averages of $88,700, according to R.S. Platou Economic Research.
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