Govt clears OCT for Mumbai port

The government approved the development of Offshore Container Terminal (OCT) at Mumbai port with an estimated investment of Rs 1,228 crore.

The Cabinet Committee on Economic Affairs (CCEA) approved the development of offshore container terminal on BOT basis at Mumbai port, under license agreement to be entered into by Mumbai Port Trust (MbPT) with the BOT operator informed Finance Minister P Chidambaram. MbPT would enter into a licence agreement with a consortium of Gammon India, Gammon Infrastructure and Dragados SPL, Spain. The total cost of the OCT project is estimated at Rs 1,228 crore. The investment by the BOT operator would be Rs 862 crore and the investment by Port to carry out works under their scope would be Rs 366.39 crore.

The capacity addition due to implementation of this project would be Rs 9.6 million tonnes per annum. It would facilitate the Mumbai port to bridge the capacity gap in Mumbai region along with JNPT.

Read More

Maersk announces new reefer container

Maersk Line has announced the implementation of QUEST, which will enable a significant reduction in the energy consumption and CO2 emissions of refrigerated containers (reefers).

QUEST (Quality and Energy efficiency in Storage and Transport) is a software solution, providing a new temperature control regime. The reefer container can cut the energy consumption used for cooling with up to 50% without impacting the quality of refrigeration solutions. Maersk Line estimates that QUEST will lead to CO2 emission reductions of 325,000 tonnes annually when fully implemented during 2008. Traditionally, containers maintain a constant supply air temperature in the reefer container, a process that uses high amounts of energy. QUEST, however, focuses on the temperature of the transported commodity.

Read More

Mitsubishi to re-launch shipbuilding

Mitsubishi Heavy Industries will return to building large passenger ships next year for the first time since it suspended such operations after an October 2002 fire on a vessel under construction.

Amid soaring popularity in Europe and the US for cruise vacations, demand for new construction of large passenger ships is expected to total about 30 vessels over the next three to four years. Mitsubishi Heavy will begin taking orders next year for large cruise ships with more than 1,000 cabins costing about US$873 billion each. US cruise operator Carnival and others are said to have approached Mitsubishi with interest in placing shipbuilding orders.

Read More

DNV and COSCO reach strategic agreement

DNV and COSCO Shipyard Group signed a Strategic Cooperation Agreement at the Word Shipping (China) Summit 2007, marking the cooperation between COSCO and DNV have entered into a new phase.

Under the new agreement the two parties are committed to work further to enhance the competence on commercial ship repair, conversion, newbuilding and offshore classification. Technical support services and training through DNV Academy are also covered by the new agreement valid to 2012. The agreement was signed by Bjorn K. Haugland, DNV Vice President and Regional Manager for Greater China, and Wang Xingru, General Manager of COSCO Shipyard Group.

Read More

GE Shipping signs contract for new vessels

Great Eastern Shipping Co Ltd said the Singapore unit of its subsidiary, Greatship (India) Ltd, had signed a contract for building 2 new multi-purpose platform supply and support vessels.

The contract has been signed between Greatship Global Offshore Services Pte Ltd, Singapore and Mazagaon Dock Ltd. The multi-purpose platform supply and support vessels are of 4,600dwt. These vessels are expected to join the company's fleet in the second half of the year to March 2010. The statement also said with this order, Greatship (India) and its subsidiaries have a building order book of 16 new offshore supply vessels and one new 350 feet jack-up rig.

Read More

African oil companies plan JVs in India

African oil majors Sonatach, Nigeria National Petroleum (NNPC), Sudapet and Petrosen are all set for an Indian JV.

While India is eyeing oil and gas resources in 25 African nations including Libya, Nigeria, Algeria, Sudan and Egypt, visitors would explore joint investment options with Indian companies like ONGC, IOC, GAIL and RIL. Africa accounts for around 10% of global oil reserves and six countries Nigeria, Libya, Algeria, Angola, Sudan and Egypt hold 95% that reserve. Total crude oil production in the continent is about 10,410 barrels per day (bpd), which accounts for 13% of world’s production. Over 100 delegates from 25 African nations are expected to participate in the two-day event starting from November 6 in New Delhi. The two-day event will be inaugurated by minister of external affairs Pranab Mukherjee. The event has been jointly organised by the petroleum ministry, FICCI and UNCTAD.

Read More

U.S. Navy frees Taiwanese ship from Somali pirates

The U.S. Navy on Monday helped free the fifth ship in a week hijacked by Somalia pirates, attempting to bring security to crucial shipping routes between the Red Sea and Indian Ocean.

Pirates released the Taiwanese fishing vessel five and half months after seizing it. The Navy is in contact with two remaining ships held by pirates in Somali waters. The latest fishing vessel freed by the U.S. Navy had two Taiwanese and 12 Chinese crew members aboard when it was hijacked 137 miles off the coast of Somalia's capital, Mogadishu, in May. Pirates killed one of the crew members in June, according to Andrew Mwangura, head of Seafarers Assistance Program's Kenyan chapter. Two other boats hijacked by Somali pirates in May were freed after U.S. Navy personnel spoke to them by radio. Somalia's lawless coastlines are a haven for heavily armed pirates who use speedboats with Global Positioning System equipment, anti-tank rocket launchers and grenades.

Read More