The port said the two sides were about to draft contracts after the joint venture led by HPH, the port operating arm of conglomerate Hutchison Whampoa, prevailed in the tender to run and upgrade container facilities at OLTH. "The consortium of Hutchison Port Holdings, Hutchison Port Investments, Alapis and LYD informed OLTH that it is withdrawing its interest in the container facilities of the port," OLTH said in a bourse filing. "The reasons for the withdrawal have to do with the economic crisis which has affected many sectors, especially shipping, and the difficulty of banks to finance Hutchison's ambitious plans," OLTH spokesperson Chrysanthi Athanasiou said.
Monday, December 29, 2008
HPH pulls out Thessaloniki bidding process
Athens: Greece's second largest port has revealed that Hutchison Port Holdings and Greek pharmaceutical group Alapis, highest bidders for Thessaloniki port's (OLTH) cargo facilities have pulled out of the tender.
ISS and PT Perusahaan Pelayaran Equinox part ways
The two companies, which have had a seven-year association, attribute the decision to “corporate development initiatives taken during the past two years by both organizations which dictated independence of operations”.
ONGC Taps New Resources to Shape Its Future
Fifty-two-year-old Oil and Natural Gas Corporation Ltd. (ONGC) has formed a 51-officer Think Tank to pump in young and innovative ideas for tackling issues facing the oil major.
The 51 officers are all brand new recruits, what the oil major terms Graduate Trainees (GTs). The 51 officers will now pitch in their ideas to the ONGC Board in a two-day meet being held near
Sunday, December 28, 2008
Leighton invests in new pipelayer
ZHEJIANG, CHINA: Australia-listed construction services provider Leighton Holdings will add one more newbuild pipelayer to support its projects in Asia.
The new vessel, Leighton Faulkner, is under construction in Zhejiang, China. When complete, the 76-metre (249-ft) long and 24-metre (79-ft) wide pipelayer will be capable of laying up to 32-inch pipes using a 10-point mooring system. Leighton Faulkner will start its first assignment laying a twin 4,500-metre (14,764-ft), 20-inch wide subsea pipeline in support of the expansion of an aviation fuel facility in Tuen Mun, Hong Kong. The pipelayer is scheduled to install a 24-inch, 13.4-kilometre (8.3-mile) offshore pipeline as part of a project commissioned by the Brunei Economic Development Board. The US$73 million project is due for completion by February 2010 and will also involve the engineering, procurement, installation and commissioning of an associated pipeline end manifold and a single point mooring (SPM) system. The pipeline system is designed to handle a flow of up to 1,600 tonnes (1,760 tons) an hour of methanol. The SPM will be a catenary anchor leg mooring type turret buoy with a capacity to accommodate 46,000 dead weight tonne tankers. It will be located in waters approximately 25 metres (82 ft) deep. The project will be supported by a 2,400-hp anchor handling tug, a 2,000-hp tug, two 55-metre (180-ft) supply barges and a crew boat.
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The new vessel, Leighton Faulkner, is under construction in Zhejiang, China. When complete, the 76-metre (249-ft) long and 24-metre (79-ft) wide pipelayer will be capable of laying up to 32-inch pipes using a 10-point mooring system. Leighton Faulkner will start its first assignment laying a twin 4,500-metre (14,764-ft), 20-inch wide subsea pipeline in support of the expansion of an aviation fuel facility in Tuen Mun, Hong Kong. The pipelayer is scheduled to install a 24-inch, 13.4-kilometre (8.3-mile) offshore pipeline as part of a project commissioned by the Brunei Economic Development Board. The US$73 million project is due for completion by February 2010 and will also involve the engineering, procurement, installation and commissioning of an associated pipeline end manifold and a single point mooring (SPM) system. The pipeline system is designed to handle a flow of up to 1,600 tonnes (1,760 tons) an hour of methanol. The SPM will be a catenary anchor leg mooring type turret buoy with a capacity to accommodate 46,000 dead weight tonne tankers. It will be located in waters approximately 25 metres (82 ft) deep. The project will be supported by a 2,400-hp anchor handling tug, a 2,000-hp tug, two 55-metre (180-ft) supply barges and a crew boat.
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Adnoc plans to cut January supplies to Indian refiner
Abu Dhabi National Oil Co (Adnoc) has informed India's Bharat Petroleum Corp (BPCL) that supplies for January could be cut, an industry source said yesterday, following Opec's pact to make its largest-ever output reduction to stem oil's fall.
The Organisation of Petroleum Exporting Countries agreed last week on a record 2.2 million barrels per day (bpd) output cut from January 1, taking the total output removed since September to 5 per cent of world output. "Adnoc has not given anything in writing, they have verbally informed BPCL to be ready for a cut in January," the source, who could not be named, said. Replacement - The source did not say what the cut would be but "normally they cut between 5 and 15 per cent as was seen last time." He added that BPCL was trying to import some volumes of Yemen's Masila crude to replace any supply shortfalls due to cuts by Adnoc or any other Opec producers. BPCL buys about 40,000 barrels per day (bpd) of crude from Adnoc, the national oil company of Opec-member United Arab Emirates (UAE). In the last financial year ending March 2008, India bought 217,240 bpd of crude from the UAE. In the April-June quarter, it bought 301,420 bpd crude from the UAE. Other Opec producers such as Saudi Arabia and Kuwait have yet to inform BPCL on possible supply cuts, the source said. BPCL buys 80,000-90,000 bpd crude from Saudi Arabia. It runs a 240,000-bpd refinery in Mumbai, India's financial hub, and another 150,000-bpd plant in Kochi in southern Kerala state. Other Asian buyers of Opec crude have yet to receive notices overnight of any further supply cuts. Top producer Saudi Arabia, which sells more than half its crude to Asia, preempted Opec's decision by informing some customers two weeks ago of modestly sharper curbs than for December, but many refiners expected more to come, especially from other Gulf producers.
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The Organisation of Petroleum Exporting Countries agreed last week on a record 2.2 million barrels per day (bpd) output cut from January 1, taking the total output removed since September to 5 per cent of world output. "Adnoc has not given anything in writing, they have verbally informed BPCL to be ready for a cut in January," the source, who could not be named, said. Replacement - The source did not say what the cut would be but "normally they cut between 5 and 15 per cent as was seen last time." He added that BPCL was trying to import some volumes of Yemen's Masila crude to replace any supply shortfalls due to cuts by Adnoc or any other Opec producers. BPCL buys about 40,000 barrels per day (bpd) of crude from Adnoc, the national oil company of Opec-member United Arab Emirates (UAE). In the last financial year ending March 2008, India bought 217,240 bpd of crude from the UAE. In the April-June quarter, it bought 301,420 bpd crude from the UAE. Other Opec producers such as Saudi Arabia and Kuwait have yet to inform BPCL on possible supply cuts, the source said. BPCL buys 80,000-90,000 bpd crude from Saudi Arabia. It runs a 240,000-bpd refinery in Mumbai, India's financial hub, and another 150,000-bpd plant in Kochi in southern Kerala state. Other Asian buyers of Opec crude have yet to receive notices overnight of any further supply cuts. Top producer Saudi Arabia, which sells more than half its crude to Asia, preempted Opec's decision by informing some customers two weeks ago of modestly sharper curbs than for December, but many refiners expected more to come, especially from other Gulf producers.
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Russia tops up output with new caches
Russia has fully replaced its oil and gas production this year with new reserves, Resources Minister Yuri Trutnev said.
Trutnev said yesterday that Russia, the world's largest gas producer and the world's second largest oil exporter, had discovered 500 million tonnes of new oil reserves this year and 650 billion cubic metres of gas. Russia's energy ministry estimates this year's oil output at between 485 million and 488 million tonnes, around 1% down from last year and the first decline in oil production in a decade. Russia's gas output is expected to come at 660 Bcm this year.
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Trutnev said yesterday that Russia, the world's largest gas producer and the world's second largest oil exporter, had discovered 500 million tonnes of new oil reserves this year and 650 billion cubic metres of gas. Russia's energy ministry estimates this year's oil output at between 485 million and 488 million tonnes, around 1% down from last year and the first decline in oil production in a decade. Russia's gas output is expected to come at 660 Bcm this year.
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ICTSI appoints new Europe & Middle East regional manager
Manila: International Container Terminal Services, Inc. (ICTSI) recently appointed Francis Andrews (pictured) as regional manager for Europe and the Middle East.
Andrews has been with the Company since 2000, and was formerly general manager of Manila International Container Terminal, and sat on the boards of various ICTSI subsidiaries. From 2000 to 2001, he was at the helm of former ICTSI subsidiary International Port Services as ceo and general manager. His longest tenure was with Sea-Land Services, where he worked from 1973 to 2000. ICTSI is a leading developer of international ports and terminals with a global port network spanning 11 countries in four continents. Headquartered in the Philippines, the company is in its 20th year of operation, and continues to pursue container terminal opportunities around the world.
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Andrews has been with the Company since 2000, and was formerly general manager of Manila International Container Terminal, and sat on the boards of various ICTSI subsidiaries. From 2000 to 2001, he was at the helm of former ICTSI subsidiary International Port Services as ceo and general manager. His longest tenure was with Sea-Land Services, where he worked from 1973 to 2000. ICTSI is a leading developer of international ports and terminals with a global port network spanning 11 countries in four continents. Headquartered in the Philippines, the company is in its 20th year of operation, and continues to pursue container terminal opportunities around the world.
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