Ship owners who had been receiving hundreds of thousands of dollars a day for their vessels are now having to accept a fraction of that, often not enough to make it worthwhile running the ship, especially given that they can get $200 a tonne for the scrap metal.“For container ships, there’s no employment — or what owners do get is less than it costs to run,” Quentin Soanes, director of Braemar Shipping Services, a ship broker, said. “If an owner ... can’t afford to lay off a ship, [he] turns to demolition.” Almost every part of a ship can be recycled, with equipment often resold and the steel used in construction. Mr Soanes said that scrapping started to pick up in November last year and that the first three months of 2009 were extremely busy.Tom Peter Blankestijn, who looks after ship recycling for A.P. Moller Maersk, said that he expected to scrap more than 20 ships this year, compared with 27 over the past eight years.
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Wednesday, July 1, 2009
Ships sail towards scrapheap
More ships have been scrapped so far this year than in the whole of 2008 as owners decide to cash in on their ageing fleets rather than have them sit unused amid the slowdown in global trade brought on by the recession.
PGS completes processing of MEO's Artemis 3-D survey
MELBOURNE: Petroleum Geo-Services Australia Pty Ltd (PGS) has completed the processing of MEO Australia Ltd.'s (ASX: MEO) 97-square-mile (250-sq-km) Artemis 3-D seismic survey in WA-360-P in the Carnarvon Basin offshore Western Australia.
The processing has been completed on schedule and the dataset is expected in house on June 30. The survey was acquired in March of 2009 using PGS seismic vessel Orient Explorer to help delineate the northern extent of the Artemis prospect identified on MEO's existing 2007 3-D seismic survey, in preparation for the drilling of an exploration well, currently scheduled for 2010. Interpretation of the Artemis 3-D seismic survey is a component of de-risking the Artemis prospect ahead of the drilling commitment. MEO launched a formal farm-out process in late April to attract a partner to fund the drilling of the exploration well. The company has advised prospective parties that indicative farm-in offers are due by July 31, 2009.
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Tuesday, June 30, 2009
‘Azura’ launched at Fincantieri Monfalcone
Italy: The Fincantieri Monfalcone shipyard launched a new P&O cruise ship for the Carnival Group on June 26.
‘Azura’ is a sistership of the ‘Ventura’ which was delivered last year at the same yard. ‘Azura’ will commence operations in the northern spring next year. Present at the launch ceremony were, on behalf of the shipowner, David Dingle, CEO of Carnival UK and Nigel Esdale, Managing Director of P&O Cruises, while Fincantieri was represented by Paolo Capobianco, Director of Monfalcone shipyard. Godmother to the ship was Amanda Dowds, wife of Captain Keith Dowds who will command the new vessel. Weighing in at a gross tonnage of 116,000 tonnes, and at 290 metres long, with 2,180 cabins for 3,118 guests and 1,265 crew, the ‘Azura’ is a masterpiece of Italian style, a perfect mix of high technology, elegance and exclusive services.Read More
‘Azura’ is a sistership of the ‘Ventura’ which was delivered last year at the same yard. ‘Azura’ will commence operations in the northern spring next year. Present at the launch ceremony were, on behalf of the shipowner, David Dingle, CEO of Carnival UK and Nigel Esdale, Managing Director of P&O Cruises, while Fincantieri was represented by Paolo Capobianco, Director of Monfalcone shipyard. Godmother to the ship was Amanda Dowds, wife of Captain Keith Dowds who will command the new vessel. Weighing in at a gross tonnage of 116,000 tonnes, and at 290 metres long, with 2,180 cabins for 3,118 guests and 1,265 crew, the ‘Azura’ is a masterpiece of Italian style, a perfect mix of high technology, elegance and exclusive services.
Maersk looks to boost intra-Asia volumes six fold
Hong Kong: AP Moller-Maersk wants to expand its share of the intra-Asia container trades six-fold, ScandAsia reported.
Expansion plans for this region through Singapore-based feeder subsidiary Mercantile Cargo Consolidators Transport were outlined a year ago, with AP Moller-Maersk keen to fully exploit a sector in which it has had only a peripheral interest until now. Current market share is put at around 2%, whereas Maersk Line’s share of the inter-continental trades is between12% and 15%. That is the target for MCC Transport, according to chief executive Tim Wickmann.
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‘Manannan’ participates in Manx TT Race
The Isle of Man Steam Packet Company’s latest Incat fast ferry has completed her first Manx TT Race period, ferrying thousands of passengers and their bikes to and from the island during race festival.
During the TT period, the Steam Packet Company carried over 9,900 motorcycles, 4,000 cars/vans and 30,000 passengers, in each direction with its two fast craft and conventional ferry. Allocated to the busy Douglas to Liverpool service, the ‘Manannan’ is the largest diesel-powered high speed craft on the Irish Sea with greater cruising speed and increased vehicle and passenger capacity than the vessel she replaces. The 96-metre wave piercing catamaran was built by Incat in Tasmania, Australia, in 1998 as the ‘Incat 050’. Purchased by the Manx company in May 2008, the vessel sailed from Tasmania bound for Portsmouth, England, in June 2008 to commence an extensive refit project.
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Pride names four new drillships
HOUSTON: Pride International Inc. (NYSE: PDE) has named the four new ultra-deepwater drillships it has under construction.
Pride is naming the drillships after major subsea features that occur in some of the deepest areas of the ocean. Deep Ocean Ascension, formerly PS1, is expected to be delivered in the first quarter of 2010. Deep Ocean Clarion, formerly PS2, is expected for delivery in the third quarter of 2010. Deep Ocean Mendocino, formerly PS3, is expected for delivery in the first quarter of 2011. Deep Ocean Molokai, formerly PS4, is expected for delivery in the fourth quarter of 2011. The drillships, capable of operating in water depths of up to 12,000 feet (3,658 m), are being built at Samsung Heavy Industries shipyard in Geoje, South Korea.
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Shippers, insurers fear Somali piracy may escalate
Pirate attacks on vessels sailing off Somalia could get worse, pushing up insurance and shipping costs and possibly forcing companies to use longer sea routes, industry officials say.
Piracy has flourished in recent months off the busy Gulf of Aden and Indian Ocean shipping lanes and seaborne gangs have seized several cargo ships and collected tens of millions of dollars in ransom for the safe release of crews and cargoes. Last week the Group of Eight powers said it was "seriously concerned" about the increasing threat. "(The) piracy risk is likely to get worse before it gets better," said a report this month commissioned by Lloyd's of London [LOL.UL], the specialist insurance market. While foreign navies have been deployed off Somalia since the turn of the year to try to prevent attacks, those forces have found themselves stretched given the vast expanses of water involved leaving vessels vulnerable to attack. "It's quite difficult to find vessels that will go through the Gulf of Aden these days," said a London-based shipbroker. Marine insurance brokers said insurers were charging between 0.05 percent to 0.175 percent of the value of a ship per voyage in the Gulf of Aden versus zero to 0.05 percent in May 2008. "Rates and charges may well escalate if the number of successful piracy attacks increases," said Paul Newton, head of hull and yacht underwriting in Britain with insurer Allianz Global Corporate & Speciality.
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