BP America announced on October 15, 2008 an oil discovery at its Freedom Prospect in the deepwater Gulf of Mexico.
The well, located in Mississippi Canyon Block 948, USA, is in about 1,860 metres of water. The Freedom well was drilled to a total depth of approximately 8,927 metres and encountered greater than 167.64 metres of hydrocarbon-bearing sands in Middle and Lower Miocene reservoirs. “The Freedom well is our third discovery in this part of the deepwater Gulf of Mexico following our Tubular Bells and Kodiak discoveries," said Andy Inglis, BP chief executive, Exploration and Production. "We believe that Freedom straddles Mississippi Canyon Block 948 and Mississippi Canyon Block 992 and we look forward to working with our various partners towards efficient development of these discovered resources." Appraisal is required to determine the size and commerciality of the discovery.
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Thursday, October 16, 2008
POSCO goes for Daewoo alone
Seoul: POSCO Co, the world's fourth-largest steelmaker, said that it has made a solo bid for a controlling stake in Daewoo Shipbuilding & Marine Engineering Co.
POSCO had previously formed a consortium with GS Group, an energy and retail conglomerate, in an effort to gain control of the world's No. 3 shipyard, but GS dropped out on Monday, hours after the two sides submitted their final bid. In a regulatory filing made early on Tuesday, GS Holdings, the holding company of GS, said it decided to pull out of the consortium with POSCO because of a "difference" over conditions for the proposed acquisition. With GS dropping its joint bid, POSCO, Hyundai Heavy Industries Co, the world's largest shipbuilder, and Hanwha Group, an insurance and chemicals conglomerate, are competing to buy a 50.4 per cent stake in Daewoo Shipbuilding.
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POSCO had previously formed a consortium with GS Group, an energy and retail conglomerate, in an effort to gain control of the world's No. 3 shipyard, but GS dropped out on Monday, hours after the two sides submitted their final bid. In a regulatory filing made early on Tuesday, GS Holdings, the holding company of GS, said it decided to pull out of the consortium with POSCO because of a "difference" over conditions for the proposed acquisition. With GS dropping its joint bid, POSCO, Hyundai Heavy Industries Co, the world's largest shipbuilder, and Hanwha Group, an insurance and chemicals conglomerate, are competing to buy a 50.4 per cent stake in Daewoo Shipbuilding.
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CSIS Launches New Tools for Schools
Container Shipping Information Service (CSIS) is launching a new set of resources designed for schools.
Its aim is to provide teachers with the tools and information to introduce discussions on global trade and container shipping into the classroom. Among the new resources is an interactive animated video which allows users to follow the journey of certain products from source to store with quizzes and information pit-stops along the way. Also available are a ready-made container shipping presentation covering everything from history to interesting facts and figures, and a pack of information about the crucial Panama Canal. You can view the new CSIS resources at www.shipsandboxes.com/. These new educations resources follow a BBC initiative launched in September in collaboration with CSIS. The Box project follows a BBC-branded shipping container around the world as it transports a variety of consumer goods.
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Its aim is to provide teachers with the tools and information to introduce discussions on global trade and container shipping into the classroom. Among the new resources is an interactive animated video which allows users to follow the journey of certain products from source to store with quizzes and information pit-stops along the way. Also available are a ready-made container shipping presentation covering everything from history to interesting facts and figures, and a pack of information about the crucial Panama Canal. You can view the new CSIS resources at www.shipsandboxes.com/. These new educations resources follow a BBC initiative launched in September in collaboration with CSIS. The Box project follows a BBC-branded shipping container around the world as it transports a variety of consumer goods.
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Dredging vessels to leave Melbourne for reconstruction and routine maintenance
Port of Melbourne Corporation announced at the Channel Deepening Project news conference on October 15, 2008 that the project’s two main dredging vessels are both scheduled to leave Port Phillip this week.
With work at the Entrance of the bay now technically complete, ‘Queen of the Netherlands’ is scheduled to leave Melbourne for Singapore on October 17 2008. There, the vessel’s mid–ship section will be lengthened by about 50 metres. The work is scheduled to be completed in March next year, following which the ‘Queen of the Netherlands’ is scheduled to return to Melbourne. The project’s other main dredger, ‘Cornelis Zanen’ (‘CoZa’), is scheduled to leave for Singapore on October 15 2008 for routine maintenance in dry dock. The vessel is scheduled to return in early December, resuming work in the northern part of the bay. ‘CoZa’ is then scheduled to recommence ongoing works in the south of the bay in early February 2009. Dredging and services protection works using smaller dredging vessels will continue in the Yarra River this week.
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With work at the Entrance of the bay now technically complete, ‘Queen of the Netherlands’ is scheduled to leave Melbourne for Singapore on October 17 2008. There, the vessel’s mid–ship section will be lengthened by about 50 metres. The work is scheduled to be completed in March next year, following which the ‘Queen of the Netherlands’ is scheduled to return to Melbourne. The project’s other main dredger, ‘Cornelis Zanen’ (‘CoZa’), is scheduled to leave for Singapore on October 15 2008 for routine maintenance in dry dock. The vessel is scheduled to return in early December, resuming work in the northern part of the bay. ‘CoZa’ is then scheduled to recommence ongoing works in the south of the bay in early February 2009. Dredging and services protection works using smaller dredging vessels will continue in the Yarra River this week.
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Bin Sulayem, China Shipping chief discuss business opportunities
H.E Sultan Ahmed Bin Sulayem, Chairman of Dubai World, one of the largest holding companies in the world, met in Shanghai Mr. Li Shaode, President of China Shipping (Group), China’s leading shipping conglomerate, to discuss business opportunities.
The meeting presented an opportunity to get a closer view of the maritime business sector in the region. “Dubai World has a strong investment base in China, mainly through DP World, the group’s global marine terminal operator. We are keen to take a close look at more investment opportunities in China in line with the visit of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai in April this year, which has further strengthened economic ties between the two countries,” said Mr. Bin Sulayem. A senior management team from DP World accompanied Mr. Bin Sulayem on his visit. This follows the visit by a 17-member high-level civic delegation from Shanghai in August this year led by His Excellency Han Zheng, Mayor of Shanghai, as part of a familiarization tour to know more about the group’s new projects. Dubai World’s investment portfolio in China mainly includes port operations by DP World. The group’s private equity and alternative investment house, Istithmar World as well as its global real estate master developer Limitless, have offices in Shanghai. Dubai and China enjoy very healthy trade ties, which has been increasing steadily over the past five years.
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The meeting presented an opportunity to get a closer view of the maritime business sector in the region. “Dubai World has a strong investment base in China, mainly through DP World, the group’s global marine terminal operator. We are keen to take a close look at more investment opportunities in China in line with the visit of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai in April this year, which has further strengthened economic ties between the two countries,” said Mr. Bin Sulayem. A senior management team from DP World accompanied Mr. Bin Sulayem on his visit. This follows the visit by a 17-member high-level civic delegation from Shanghai in August this year led by His Excellency Han Zheng, Mayor of Shanghai, as part of a familiarization tour to know more about the group’s new projects. Dubai World’s investment portfolio in China mainly includes port operations by DP World. The group’s private equity and alternative investment house, Istithmar World as well as its global real estate master developer Limitless, have offices in Shanghai. Dubai and China enjoy very healthy trade ties, which has been increasing steadily over the past five years.
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Wednesday, October 15, 2008
Week of honour as Incat wins two awards
Australian high speed shipbuilder Incat has been awarded the Aurora Energy 2008 Tasmanian Award for Manufacturing.
Incat’s Founder and Chairman, Robert Clifford, also became the second holder of the Interferry Person of Distinction award. The award presentation to Mr Clifford was made during Interferry’s 33rd annual conference in Hong Kong. The trade association accolade recognizes Mr Clifford’s leading role in the development of large vehicle-carrying aluminium catamarans, a sector in which the Tasmania-based company claims almost 40 per cent of the world market. In the latest citation, Interferry CEO Len Roueche said: “Robert Clifford has been at the forefront of high-speed catamaran technology for more than 30 years and, in terms of large vehicle carriers, could certainly be called the father of the concept. “He was almost a lone voice for many years but has since seen his vision embraced by major operators on every continent.” Mr Clifford said he was deeply honoured and very surprised to be nominated by his industry peers, adding: “I have always believed that fast ferries would have an ever-increasing place in the transport scene, and it is pleasing to see the general acceptance that has made this a reality.” Arguing the economic and environmental case for fast ferries, he pointed out: “On some routes they burn less fuel than heavy steel ships as their hulls are made of material about half the weight of steel. This allows them either to be lower powered for the same speed, or to travel faster and make more revenue crossings.
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Incat’s Founder and Chairman, Robert Clifford, also became the second holder of the Interferry Person of Distinction award. The award presentation to Mr Clifford was made during Interferry’s 33rd annual conference in Hong Kong. The trade association accolade recognizes Mr Clifford’s leading role in the development of large vehicle-carrying aluminium catamarans, a sector in which the Tasmania-based company claims almost 40 per cent of the world market. In the latest citation, Interferry CEO Len Roueche said: “Robert Clifford has been at the forefront of high-speed catamaran technology for more than 30 years and, in terms of large vehicle carriers, could certainly be called the father of the concept. “He was almost a lone voice for many years but has since seen his vision embraced by major operators on every continent.” Mr Clifford said he was deeply honoured and very surprised to be nominated by his industry peers, adding: “I have always believed that fast ferries would have an ever-increasing place in the transport scene, and it is pleasing to see the general acceptance that has made this a reality.” Arguing the economic and environmental case for fast ferries, he pointed out: “On some routes they burn less fuel than heavy steel ships as their hulls are made of material about half the weight of steel. This allows them either to be lower powered for the same speed, or to travel faster and make more revenue crossings.
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DCT Gdansk Celebrates First Year
On October 1, 2008, the Polish deepwater container terminal DCT Gdansk celebrated its first birthday with a large reception party, attended by close to 300 people.
Amongst invited guests were representatives of freight forwarders, shipping lines and rail operators working with the terminal, as well as local authorities with the Mayor of Gdansk and the Chairman of the Port of Gdansk Authority. The ambassadors of Australia and Denmark were also in attendance. These anniversary party celebrations took place on the terminal apron in a transparent marquee, enabling the guests to view the terminal in operation while the stage inside had been created using a 45ft open-sided container provided by Containerships, currently the terminal’s largest customer. DCT Gdansk SA is a Polish registered company majority owned by GIF II (Global Infrastructure Fund II), a specialist fund managed by a member of the Macquarie Group of Companies, headquartered in Australia. Its new terminal offers year-round ice-free access to container vessels with depths of up to 15m, providing perfect conditions to serve as a transshipment hub to St Petersburg and the rest of the Baltic. Its three post-Panamax gantry cranes are able to work vessels carrying containers 18-across on deck.
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Amongst invited guests were representatives of freight forwarders, shipping lines and rail operators working with the terminal, as well as local authorities with the Mayor of Gdansk and the Chairman of the Port of Gdansk Authority. The ambassadors of Australia and Denmark were also in attendance. These anniversary party celebrations took place on the terminal apron in a transparent marquee, enabling the guests to view the terminal in operation while the stage inside had been created using a 45ft open-sided container provided by Containerships, currently the terminal’s largest customer. DCT Gdansk SA is a Polish registered company majority owned by GIF II (Global Infrastructure Fund II), a specialist fund managed by a member of the Macquarie Group of Companies, headquartered in Australia. Its new terminal offers year-round ice-free access to container vessels with depths of up to 15m, providing perfect conditions to serve as a transshipment hub to St Petersburg and the rest of the Baltic. Its three post-Panamax gantry cranes are able to work vessels carrying containers 18-across on deck.
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