U.S. Gulf of Mexico: Offshore rig demand in the U.S. Gulf of Mexico continues to decline, tightening the number of jobs for OSVs in the area. OSV owners are facing sinking bottom lines and are doing their best to keep their boats and their people working. One Gulf owner facing difficult times said, "It's a tough market, but we've been through this before. I have to work my boats. We have to find a bottom to oil and gas prices."One pragmatic owner said, "We will be in good shape till end of April. Construction in April might help. Less desirable boats have to compete against newer boats for the same prices.” Some less sophisticated vessels are being forced out of the market, all to the advantage of vessel owners’ customers, if those customers have work, as they can charter higher-end vessels for less money. Owners of smaller, older vessels have little choice but to lay up equipment. For example, Seacor announced it had cold-stacked 15 U.S. Gulf OSVs. Deepwater work is holding steady. A vessel manager with a sizable fleet said, "We're taking a guarded approach; the fundamentals are pretty strong, decent for deepwater.
Saturday, March 21, 2009
Rough seas for small OSVs
Offshore support vessel (OSV) owners are facing slack demand and falling day rates in major marine transportation markets.
U.S. Gulf of Mexico: Offshore rig demand in the U.S. Gulf of Mexico continues to decline, tightening the number of jobs for OSVs in the area. OSV owners are facing sinking bottom lines and are doing their best to keep their boats and their people working. One Gulf owner facing difficult times said, "It's a tough market, but we've been through this before. I have to work my boats. We have to find a bottom to oil and gas prices."One pragmatic owner said, "We will be in good shape till end of April. Construction in April might help. Less desirable boats have to compete against newer boats for the same prices.” Some less sophisticated vessels are being forced out of the market, all to the advantage of vessel owners’ customers, if those customers have work, as they can charter higher-end vessels for less money. Owners of smaller, older vessels have little choice but to lay up equipment. For example, Seacor announced it had cold-stacked 15 U.S. Gulf OSVs. Deepwater work is holding steady. A vessel manager with a sizable fleet said, "We're taking a guarded approach; the fundamentals are pretty strong, decent for deepwater.Read More
U.S. Gulf of Mexico: Offshore rig demand in the U.S. Gulf of Mexico continues to decline, tightening the number of jobs for OSVs in the area. OSV owners are facing sinking bottom lines and are doing their best to keep their boats and their people working. One Gulf owner facing difficult times said, "It's a tough market, but we've been through this before. I have to work my boats. We have to find a bottom to oil and gas prices."One pragmatic owner said, "We will be in good shape till end of April. Construction in April might help. Less desirable boats have to compete against newer boats for the same prices.” Some less sophisticated vessels are being forced out of the market, all to the advantage of vessel owners’ customers, if those customers have work, as they can charter higher-end vessels for less money. Owners of smaller, older vessels have little choice but to lay up equipment. For example, Seacor announced it had cold-stacked 15 U.S. Gulf OSVs. Deepwater work is holding steady. A vessel manager with a sizable fleet said, "We're taking a guarded approach; the fundamentals are pretty strong, decent for deepwater.
Shipping body calls for price rises in key lane
Container shipping lines face a "potential catastrophic event" if prices in a key trade lane are not increased, an industry organisation has warned, adding to the gloom surrounding the sector.
Brian Conrad, executive administrator of the Trans-Pacific Stabilisation Agreement, said shipping lines' financial survival now had to determine the rates they charged to move containers, rather than filling their ships or protecting their market share. The TSA, which allows shipping lines to share information about cargo volumes and planned future capacity, called for a sharp increase in the rates charged to move containers from Asia to North America, saying many at present were unsustainably low. Its 14 members had all committed by the end of June to stop offering any low short-term, spot rates for moving containers introduced in the past few months, it added. Shipping lines desperate to fill ships have cut spot rates on some routes to the lowest levels in the sector's 53-year history. On routes between Asia and Europe, some have been charging only the surcharges normally meant to cover fuel, currency changes and terminal handling costs. Between Asia and North America, overall charges have fallen to only a few hundred dollars for each standard container from more than $2,000 a year ago.
Read More
Brian Conrad, executive administrator of the Trans-Pacific Stabilisation Agreement, said shipping lines' financial survival now had to determine the rates they charged to move containers, rather than filling their ships or protecting their market share. The TSA, which allows shipping lines to share information about cargo volumes and planned future capacity, called for a sharp increase in the rates charged to move containers from Asia to North America, saying many at present were unsustainably low. Its 14 members had all committed by the end of June to stop offering any low short-term, spot rates for moving containers introduced in the past few months, it added. Shipping lines desperate to fill ships have cut spot rates on some routes to the lowest levels in the sector's 53-year history. On routes between Asia and Europe, some have been charging only the surcharges normally meant to cover fuel, currency changes and terminal handling costs. Between Asia and North America, overall charges have fallen to only a few hundred dollars for each standard container from more than $2,000 a year ago.
Read More
Australian Cat for Bahamas
The Bahamas Ferries (www.bahamasferries.com) recently took delivery of a 134.5 ft by 39 ft catamaran, the Bo Hengy II, from Aluminum Marine of Queensland.
Built to a design by Oceanic Yacht Design, also of Queensland, the boat has a 28-knot top speed and the dramatic looks to go with it. The vessels semi-swath hull design combined with good clearance of the bridge between the hulls, allows the high speeds to be maintained in heavy sea conditions. The propulsion package combines two Cummins KTA 38 M2 engines and two Cummins QSK19 M engines so that each hull has a 760 HP 19-liter and a 1200 HP 38-liter engine. All four engines are turning props through Reintjes gears. With a total of just under 4000 HP the Bo Hengy II burns only about 300 litres per hour.With a capacity for 400 passengers the Bo Hengy II can also carry two cars on the after deck. An 8000-liter fuel capacity gives the vessel a 600-mile range.Read More
Built to a design by Oceanic Yacht Design, also of Queensland, the boat has a 28-knot top speed and the dramatic looks to go with it. The vessels semi-swath hull design combined with good clearance of the bridge between the hulls, allows the high speeds to be maintained in heavy sea conditions. The propulsion package combines two Cummins KTA 38 M2 engines and two Cummins QSK19 M engines so that each hull has a 760 HP 19-liter and a 1200 HP 38-liter engine. All four engines are turning props through Reintjes gears. With a total of just under 4000 HP the Bo Hengy II burns only about 300 litres per hour.With a capacity for 400 passengers the Bo Hengy II can also carry two cars on the after deck. An 8000-liter fuel capacity gives the vessel a 600-mile range.
Friday, March 20, 2009
Berg Propulsion to be the Event Exclusive Partner of ShipTek 2009
ShipTek 2009, the two day international event from May-6-7, 2009 will be held at Sing Expo and Raffles Ballroom Swissotel- The Stamford, Singapore.
Berg Propulsion, the internationally competitive solution provider of Controllable Pitch Propellers has announced to be the Event Exclusive Partner of ShipTek 2009. With the development of new design in 2001, the BCP-series, Berg Propulsion now has more than 3000 propellers in service along with a brand new series of Transverse Thrusters, the BTT-series. Berg has also bought the SMP and JW BERG service companies, to support the requirements of After Sales services and is currently building its facility in Singapore for a production plant where larger propellers and the Transverse Thruster range will be produced. Berg has affirmed to be the Event Exclusive Partner of ShipTek 2009’s gala events, 3rd International Maritime Video & Excellence Awards, Launch of Marine BizTV in South East Asia along with the International Conference on Technology Revolution in Marine and Offshore Industry. ShipTek 2009 is the second edition of the flagship event of Marine BizTV – ShipTek. Organized by BizTV events, the concepts division of Marine BizTV and supported by Aries Marine and Marine BizTV, ShipTek 2009 will bring the top notch people of the marine and offshore industry to the Lion City, Singapore. For more details on ShipTek 2009, please visit: www.shiptek2009.com.Read More
Berg Propulsion, the internationally competitive solution provider of Controllable Pitch Propellers has announced to be the Event Exclusive Partner of ShipTek 2009. With the development of new design in 2001, the BCP-series, Berg Propulsion now has more than 3000 propellers in service along with a brand new series of Transverse Thrusters, the BTT-series. Berg has also bought the SMP and JW BERG service companies, to support the requirements of After Sales services and is currently building its facility in Singapore for a production plant where larger propellers and the Transverse Thruster range will be produced. Berg has affirmed to be the Event Exclusive Partner of ShipTek 2009’s gala events, 3rd International Maritime Video & Excellence Awards, Launch of Marine BizTV in South East Asia along with the International Conference on Technology Revolution in Marine and Offshore Industry. ShipTek 2009 is the second edition of the flagship event of Marine BizTV – ShipTek. Organized by BizTV events, the concepts division of Marine BizTV and supported by Aries Marine and Marine BizTV, ShipTek 2009 will bring the top notch people of the marine and offshore industry to the Lion City, Singapore. For more details on ShipTek 2009, please visit: www.shiptek2009.com.
Diverse Projects’ Latest Vessel
Build Project 08 is currently under construction at Profab Central Engineering Ltd in Palmerston North, New Zealand.
The hull was successfully rolled over in October, and the superstructure is now taking shape. Stage two of the program, interior, paintwork and finishing details will later take place in Whangarei, New Zealand. BP08’s sleek lines were designed by Craig Loomes Design Group. The 103.3 ft passagemaker is being built to Germanischer Lloyd 100 A5 class and New Zealand MSA survey. With Twin Caterpillar C18 ACERT 600HP engines, she will cruise at 12.5 knots. The interior will be designed by Chris Connell to complete the picture of very best quality all round. Based in the heart of Auckland City, New Zealand, Diverse Projects specializes in the construction of new yachts for owners worldwide. Diverse projects’ unique “virtual shipyard” approach provides clients with total start to finish project co-ordination, great control and full transparency. Bringing together the best contracting teams New Zealand can offer ensures low risk and high expertise.Diverse Projects provides project management for yacht construction, build co-ordination, construction management and construction consultancy, refits, charters and brokerage.
Read More
LNG Tanker Rates Fall 17% on Increase in Vessels
Charter rates for liquefied natural gas tankers on short-term hauls declined 17 percent last year because of an increase in new vessels, Poten & Partners said. Rates to rent LNG tankers fell to about $46,600 a day for steam turbine vessels of 138,000 to 150,000 cubic meters in capacity, Poten, a U.S. energy consultant, said in a report e mailed today.
“With a record number of new builds entering the fleet, market needs were easily accommodated and except for a few instances, prompt ships were always available,” according to the report. “Despite a robust cargo market with record numbers of spot shipments being diverted from the Atlantic Basin to destinations east of Suez, chartering activity remained muted through July.” The number of LNG ships worldwide will increase by more than 50 percent in 2010 after shipyards delivered a record 58 vessels last year, David Fuller, the London-based head of LNG for RWE AG, said at the Gas Asia conference in Kuala Lumpur yesterday. Daily charter rates in 2008 were in a range of $40,000 to $50,000 about 60 percent of the time, according to Poten. Charter rates for ships transporting spot cargoes have declined to about $35,000 to $40,000 a day currently, Gunaseharan Ganapathy, vice president of LNG at MISC Bhd., said yesterday. Charterers may have paid as much as $75,000 a day during winter 2007, according to Drewry Maritime Services Ltd.
Read More
Hallin, Bina Marine cancel subsea support vessel contract
SINGAPORE: Marco Polo Marine subsidiary Bina Marine and Hallin Marine Subsea International have canceled a SGD 74.5 million (US$49.4 million) shipbuilding contract for SOV Coniston, a DP2 subsea operations vessel.
The vessel, originally scheduled to be delivered in the fourth quarter of 2010, would have been Hallin's third subsea operations vessel. The contract, signed in late 2008, was discontinued on mutual consent as Bina Marine was unable to fulfill certain pre-completion conditions to the contract, including necessary repayment guarantees. Bina Marine and Hallin Marine are reviewing their options in light of current economic uncertainty, and are considering re-negotiating the contract if the conditions can be met.Read More
The vessel, originally scheduled to be delivered in the fourth quarter of 2010, would have been Hallin's third subsea operations vessel. The contract, signed in late 2008, was discontinued on mutual consent as Bina Marine was unable to fulfill certain pre-completion conditions to the contract, including necessary repayment guarantees. Bina Marine and Hallin Marine are reviewing their options in light of current economic uncertainty, and are considering re-negotiating the contract if the conditions can be met.
Subscribe to:
Posts (Atom)
