Central Chile's Valparaíso port EPV expects to surpass 11 million tonnes in cargo handling this year.
The state-owned autonomous port firm expects to see no variations in its 2008 projections, the official said, adding that the global financial turmoil has not had any effect on the amount of cargo imported and exported from the facility this year. The port, which handles fractioned and container cargo, is the highest TEU handler in the country. In January-September this year, the port handled 750,905 TEUs.
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Sunday, October 26, 2008
EnCana in service after blasts
Canadian player EnCana said pipelines in British Columbia damaged in separate bombings earlier this month have been repaired and shipments on them have resumed.
A 12-inch pipe able to send 60 million cubic feet of gas a day, and an 8-inch line, moving 40 million a day, returned to service over the past few days after testing, Alan Boras, a spokesman for the Calgary-based company said. Investigators from the Royal Canadian Mounted Police continue to probe the explosions on the lines, which carry sour natural gas. The explosions happened near Dawson Creek, British Columbia, about 890 kilometres northwest of Calgary. The pipelines are in a remote region that is difficult to monitor. The company has not received any direct demands, Boras said last week. Two processing plants in the region were able to continue operations, taking gas from other lines, the company said. The second blast occurred at a junction where pipelines come from below ground for short distances. The second explosion was discovered 16 October by pipeline workers.
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A 12-inch pipe able to send 60 million cubic feet of gas a day, and an 8-inch line, moving 40 million a day, returned to service over the past few days after testing, Alan Boras, a spokesman for the Calgary-based company said. Investigators from the Royal Canadian Mounted Police continue to probe the explosions on the lines, which carry sour natural gas. The explosions happened near Dawson Creek, British Columbia, about 890 kilometres northwest of Calgary. The pipelines are in a remote region that is difficult to monitor. The company has not received any direct demands, Boras said last week. Two processing plants in the region were able to continue operations, taking gas from other lines, the company said. The second blast occurred at a junction where pipelines come from below ground for short distances. The second explosion was discovered 16 October by pipeline workers.
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Gulf Marine goes global
Shanghai: In the space of just 15 weeks a marine lube company has been established with a remarkable global reach.
Established July 15 Gulf Marine, a new subsidiary of Gulf Oil, has made a dramatic impact on the stretched lube market. With many employees who used to work at France's Total Lubmarine Gulf Marine now covers 300 ports in 36 countries and according to Caroline Huot, ceo, the firm will be covering 430 ports in 45 countries by year end. Japan and the US will be onstream by January with the company fully global covering 700 ports by the end of the first quarter 2009. Within the first 15 weeks of existence Gulf Marine has bagged more than 100 ships under contract. Barges are now in operation in Hong Kong, Rotterdam, Fujairah, and Singapore - the latter is apparently the largest lube barge in the world at 1,700 dwt.
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Established July 15 Gulf Marine, a new subsidiary of Gulf Oil, has made a dramatic impact on the stretched lube market. With many employees who used to work at France's Total Lubmarine Gulf Marine now covers 300 ports in 36 countries and according to Caroline Huot, ceo, the firm will be covering 430 ports in 45 countries by year end. Japan and the US will be onstream by January with the company fully global covering 700 ports by the end of the first quarter 2009. Within the first 15 weeks of existence Gulf Marine has bagged more than 100 ships under contract. Barges are now in operation in Hong Kong, Rotterdam, Fujairah, and Singapore - the latter is apparently the largest lube barge in the world at 1,700 dwt.
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Shipbuilding demand slowing
A swift drop in freight rate is predicted to occur due to an oversupply of new large-sized vessels set to be built in 2009.
Demand for general-purpose vessels - such as tankers, bunkers and container ships have already dropped, and is not expected to increase. The value of steel plates, which have been contributing to heightened newbuilding prices, is also likely to fall following a decrease in raw material prices.
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Demand for general-purpose vessels - such as tankers, bunkers and container ships have already dropped, and is not expected to increase. The value of steel plates, which have been contributing to heightened newbuilding prices, is also likely to fall following a decrease in raw material prices.
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Saturday, October 25, 2008
M Ship - Patent for M-Hull Technology
The European Patent Office has granted M Ship Co., LLC, a patent for its revolutionary M-hull technology.
The maritime research and design firm also has entered into a Collaborative Research and Development Agreement (CRADA) with the Space and Naval Warfare Systems Center (SPAWAR) in San Diego. The European patent, titled “M-Shaped Boat Hull,” granted on Sept. 24, extends M Ship’s technology reach to Europe, offering new military, commercial and recreational markets for the proprietary M-hull technology. Under the terms of the agreement with SPAWAR, M Ship and SPAWAR will share information as it relates to the development of M Ship’s proprietary M-hull technology for unmanned surface vehicle applications. The patented M-hull technology is available only from M Ship Co., LLC., through licensing or construction agreements. The technology or specific vessel designs may be purchased by government and military agencies from M Ship Co. under sole-source acquisition contracts.
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The maritime research and design firm also has entered into a Collaborative Research and Development Agreement (CRADA) with the Space and Naval Warfare Systems Center (SPAWAR) in San Diego. The European patent, titled “M-Shaped Boat Hull,” granted on Sept. 24, extends M Ship’s technology reach to Europe, offering new military, commercial and recreational markets for the proprietary M-hull technology. Under the terms of the agreement with SPAWAR, M Ship and SPAWAR will share information as it relates to the development of M Ship’s proprietary M-hull technology for unmanned surface vehicle applications. The patented M-hull technology is available only from M Ship Co., LLC., through licensing or construction agreements. The technology or specific vessel designs may be purchased by government and military agencies from M Ship Co. under sole-source acquisition contracts.
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Globus announces sale of M/V "Ocean Globe"
Globus Maritime Limited announced that in light of the prevailing market conditions it has renegotiated the Memorandum of Agreement with Romanos Maritime Ltd.
Romanos Maritime Ltd is a client of Nikator Navigation SA, as announced on 10 September 2008, for the sale of the M/V "Ocean Globe", a 1995-built handymax dry bulk carrier. The Company has renegotiated with the Buyer a reduced price of US$37 million in cash. As further security, the deposit paid by the Buyer was increased to a total amount of US$10,450,000 representing approximately 28% of the new price. Delivery of the vessel to the new owners is expected to take place during the first week of November 2008. Upon completion of the sale, and taking depreciation into account, the Company expects to realize a capital gain of approximately US$15 million as the vessel had been purchased in July 2006 for US$25 million. Globus intends to utilize the proceeds from this sale to strengthen its balance sheet. The reduction in dry bulk trade has caused a major correction in the dry freight market, and consequently in vessel values. Furthermore, the credit crisis has caused a number of banks to withdraw previously agreed financing for vessels and regrettably we have seen a number of previously agreed vessel sales being either severely renegotiated or "dropped" all together.”
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Romanos Maritime Ltd is a client of Nikator Navigation SA, as announced on 10 September 2008, for the sale of the M/V "Ocean Globe", a 1995-built handymax dry bulk carrier. The Company has renegotiated with the Buyer a reduced price of US$37 million in cash. As further security, the deposit paid by the Buyer was increased to a total amount of US$10,450,000 representing approximately 28% of the new price. Delivery of the vessel to the new owners is expected to take place during the first week of November 2008. Upon completion of the sale, and taking depreciation into account, the Company expects to realize a capital gain of approximately US$15 million as the vessel had been purchased in July 2006 for US$25 million. Globus intends to utilize the proceeds from this sale to strengthen its balance sheet. The reduction in dry bulk trade has caused a major correction in the dry freight market, and consequently in vessel values. Furthermore, the credit crisis has caused a number of banks to withdraw previously agreed financing for vessels and regrettably we have seen a number of previously agreed vessel sales being either severely renegotiated or "dropped" all together.”
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US rig count down by 14
The number of rigs actively exploring for oil and natural gas in the US was down by 14 this week to 1976. Of the rigs running nationwide, 1529 were exploring for natural gas and 423 for oil.
Twelve were listed as miscellaneous. Canadian rig count was up 10 to 447 while the US offshore rig count is 73, down three from last week. Of the major oil- and gas-producing states, Louisiana lost nine rigs to total 189, Oklahoma lost six to total 187 and Texas lost five to total 920. North Dakota added nine to total 83 while New Mexico remained the same at 93 and Wyoming added two to total 77. Alaska remained the same at seven, Arkansas remained the same at 57, California added three to total 48 and Colorado gained two to total 124.
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Twelve were listed as miscellaneous. Canadian rig count was up 10 to 447 while the US offshore rig count is 73, down three from last week. Of the major oil- and gas-producing states, Louisiana lost nine rigs to total 189, Oklahoma lost six to total 187 and Texas lost five to total 920. North Dakota added nine to total 83 while New Mexico remained the same at 93 and Wyoming added two to total 77. Alaska remained the same at seven, Arkansas remained the same at 57, California added three to total 48 and Colorado gained two to total 124.
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