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Euronav moves in the right direction Belgian tanker concern Euronav has slightly narrowed its loss last year, compared to 2012.
The loss after tax came to $89.7 mill in 2013, compared to $118.6 mill loss the previous year. Tankers showed a loss of $117.9 mill last year, compared to a loss of $135.1 mill in 2012. This was offset by a profit of $28.2 mill in the company’s FSO sector. EBITDA came in at $138.4 mill in 2013, compared to $120.7 mill in 2012. Turnover was slightly down at $400.9 mill, compared to $410.7 mill in 2012. The company was reasonably positive going forward saying that due to a dearth of new orders in the past couple of years, coupled with the difficulty in obtaining finance for newbuilding projects, only six VLCCs, and eight Suezmaxes, including six shuttle tankers, are due to be delivered this year. If the scrapping rate stays at similar levels to that seen in 2013, there would be a VLCC and Suezmax negative fleet growth, which should help to balance the fleet and increase rates this year, Euronav said. The US was a heavy importer of West African crude, mainly in Suezmax hulls, before the advent of shale gas. Today, West African crude goes to North Europe and the Far East, which has increased the tonne/mile potential. In addition, Latin American countries have increased their oil production and exported much of it to the Far East, which again increases the tonne/miles. Euronav said that the market was expected to be highly volatile this year, which should enable owners to lock in some tonnage at good rates, which should have a positive impact on TCE results for 2014. With the US consumption rebounding to levels not seen for five years, global oil demand will be higher this year than previously forecast. For example, the IEA forecast a growth rate of 1.3% this year to 92.4 mill barrels per day. At the end of February, Euronav took delivery of the second of Maersk’s VLCCs in the 15-ship purchase agreement announced earlier this year. The company has also chartered in another Maersk VLCC for 12 months. Source : Tankeroperator
A Sea Change in Shipping Finance Independent Greek shipowners over the last century have fine-tuned a business model in shipping – mostly focused on ownership and management of vessels - that’s enviably unique in the sense that it is an efficient and agile model that plays best to their comparative advantage over other types of shipowners. The preferred example of the ‘standard case’ to make money in shipping as a Greek independent owner is to wait for the low mark of an ebbing market, choose good quality vessels (usually older panamax bulkers) and negotiate a good price (‘cheap ships’), invest about 30% equity from their own seeding, borrow the rest in the form of a first preferred ship mortgage from a shipping bank based on their handshake, expertise and solid prior record in shipping (OK, sometimes there may be more to it),
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trade the vessels on the spot market (and making sure to be in the office themselves every day and staying on top of the charter market), manage the vessels efficiently and keeping operating costs down (OK, on rare exceptions compromising vessel standards), make some operating profit, when the market improves make some more operating profit, when the market takes off sale most of the fleet for a multiple of what they paid, invest some of the proceeds in real estate (diversification or ‘taking chips off the table’), and wait for the bubble to burst to do it again.
The example above is obviously too simplistic, but, with variations on the theme, it is true and it has served well the community. Taking a deeper look into the ‘Greek shipowning model’, one can distinguish several business concepts taught at business schools on how to build and manage businesses and companies effectively. For instance, by having the shipowner contribute meaningful ‘skin in the game’ (both equity and reputation), there was also a meaningful alignment of interests for the lenders. Further, shipowners managing the vessels themselves through the affiliated vessel management company, the agency issue has been effectively muted: there was further alignment of interests as the manager looks to optimize value for the owner by keeping vessel operating expenses low, maintains active involvement in the charter market and executes on un-conflicted decisions on capital matters (buy or sell vessels.) [In sharp contrast, in the German KG market, the shipowner (retail investors) and manager had and still have their interests completely mis-aligned, which partially contributed to the cause of the KG ‘problem’]. The fact also that Greek shipowners do not have a competitive advantage in terms of financing (Greek shipping banks – in general – are a small part of the international shipping banking market) or of access cargoes preferentially (no major oil companies, miners, refiners, traders, industrial conglomerates are based in Greece), Greek shipowners had to stay nimble, flexible and focused, which may also have made them good market timers and traders. Six years after the market crushed and with the belief that the market is in a recovery phase, the Greek shipowning model has proved to be better than others as the Greek shipowning community has weathered the crisis better than most in the western hemisphere.
What are the prospects of the Greek shipowning model looking forward? Will be a viable model for the days to come? Should be left to its own (‘if it ain’t broken, don't fix it’)? Would have to be adjusted, amended, extended to fit the times?
We do not pretend to be smarter than the people who made fortunes in shipping while ‘writing the book’ about the ‘Greek shipowning model’, but it seems that at least a re-assessment of the situation may be warranted; and, whether the crisis could make us wiser in any ways with any lessors to be analyzed and learned. Just this week, we had the 25th anniversary of MT „EXXON VALDEZ” grounding which was the cause of major changes in shipping such as OPA 90, the mandatory use of double-hull for tankers and early phase out of (otherwise often perfectly great) single hull tankers. The anniversary of the accident has been a good reflection point about ‘unknown’ events that can force a change of course.
There are many variables and ‘known unknowns’ in shipping and access to capital is just one of them. Shipping is a capital intense industry and access to funding (effectively and competitively priced) is crucial, and it’s clear in the discussion so far, that access to shipping banks has been imperative to the success of the ‘Greek shipowning model’. We wondered whether the collapse of ‘Bear Stearns’ in 2008 have been the ‘Exxon Valdez’ moment in the shipping finance industry, and Basel III may be the equivalent of OPA 90.
Several traditional shipping banks have seen their shareholding structure change since 2008, with several banks now owned by the taxpayers (notably, RBS, Lloyd’s, HSH, etc) and thus their objectives as corporates entities have changed. Several more traditional shipping banks have formally announced that they are exiting the shipping industry (most notably, Commerzbank.) For all banks however going forward, based on new regulations, shipping will be a hard industry to serve; there will be high requirements for liquidity ratios and cash reserves (‘Risk Weighted Assets’ (RWA)), which do not make shipping a very desirable industry to be in when Return on Equity (ROE) has to be pari passu with other industries for the bank. Shipping banks could opt to provide corporate financing (as compared to traditional asset based financing or better now ship mortgages), which is more favorably viewed under Basel III and the current regulatory requirements. And there doesn't seem to be a national mandate in any of the countries with significant shipping presence in the west to support shipping or the banks to be given motives to remain or keep lending in shipping t preferential terms. The banks have been vocal at resisting Basel III since it adversely affects their returns – among other things, and it will be difficult having a full assessment of whether Basil III may be eventually watered down to a level that would have enough buoyancy to keep shipping finance afloat. To the extent that shipping banks in the new phase of the shipping cycle will be active in the future (first hurdle), and do not shift their lending practices toward corporate finance (second hurdle), then, expected interest rates in shipping – expressed as spread over Libor – likely will be several hundred basis points, likely five hundred (500) or more, a very high rate and definitely a rarely seen before phenomenon in the last decade. Under such a scenario, bank lending in shipping will not be anything similar found in the past. There has been a lot of coverage about alternative sources of capital and especially private equity funds entering the shipping space. Several big deals have taken place, but when one looks closer at the details,
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most of the funds have opted to partner with publicly traded shipping companies (i.e. Euroseas, Teekay Investment Limited, etc), private shipping companies sponsored or affiliated with publicly traded companies (i.e. Ocean Bulk, etc) or private companies well versed with the capital markets (Rickmers, etc) or on their way to going public (Prime, etc). To the extent that some funds have preferred a more controlled or smaller scale investment in shipping assets, they either set up the vessel management in-house (Principal Maritime, etc) or hired professional third-party managers to manage the vessels (V Ships, etc). As discussed in previous article, private equity funds have to ‘check certain boxes’ when partnering in joint ventures (JVs) - and independent small owners, despite their agility and market expertise and track record, do not easily make it to the partnership table.
There has been a trend toward an institutionalized vessel ownership where vessels are held under a corporate umbrella and financials are proper and audited; such arrangements have not been the preferred set-up by many independent owners, as this adds to bureaucracy and cost structure. However, it’s getting ever clearer that being a shipping expert with a flexible and cost efficient structure will not suffice in the present environment. The ‘Greek shipowning model’ has been effective, successful, profitable and resilient, but now shipowners will have to make an effort to bring the financial expertise up to par with the shipping expertise. Since traditional banks will not be granting easily loans, and institutional investors and likely capital markets will be replacing banking, independent shipowners will have to depend more on shipping finance advisors experts, accountants and auditors and strategy consultants. Probably none of these functions are as exciting to a self-made Greek shipowner as running and trading vessels, and likely a poor use of resources in their opinion; on the other hand, getting more sophisticated in shipping finance is likely a small price to pay in order to a successful business model evolved; shipowners in other countries or with different business models have seen their models collapse altogether, after all. Source: Article provided exclusively for Hellenic Shipping News Worldwide by Basil M Karatzas, CEO of Karatzas Marine Advisors & Co., a shipping finance advisory and ship brokerage firm based in Manhattan, New York.
01-04-2014 : Vroons IVER BEAUTY Passing at Yangtze river near Nanjing Tanker Corperation Zijinshan Shipyard
CMA CGM, the world's third-largest container shipper, is continuing to study the option of listing shares but any move would not be this year, the French group's chief financial officer said on Monday. The family-owned group had said in late 2012 that it planned to list shares by the end of 2014 in an attempt to improve its access to financing in the face of volatile freight prices.
CMA CGM has since been through a financial restructuring that saw French sovereign fund FSI inject $150 million and the group sell a stake in a port terminal operator for 400 million euros ($550 million), helping it secure better credit ratings and reduce debt. "You shouldn't expect much news on that this year. There won't be a share listing in 2014," Michel Sirat told Reuters in a telephone interview after the release of CMA CGM's 2013 results. "In any case, there is no urgency in having a new, different access to equity markets, but it remains a matter being studied because it is a
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legitimate subject for a group of our size." CMA CGM's issuing of a 300 million euro bond last year and renewed interested from banks in the shipping sector, had boosted the French company's sources of financing, he said.
CMA CGM, based in the Mediterranean port city of Marseille, is controlled by founder Jacques Saade and his family.
The FSI and Turkish group Yildirim are both minority shareholders in CMA CGM through convertible bonds they hold, giving the FSI the equivalent of 6 percent of shares and Yildirim 24 percent. CMA CGM reported stable full-year revenue at $15.9 billion, as a 7.5 percent rise in its volumes was offset by a 7.1 percent drop in its average freight rates.
Core operating profit fell 26.9 percent to $756 million but group net profit rose 22.8 percent to $408 million, boosted by the sale of 49 percent of Terminal Link. CMA CGM expects market conditions in 2014 to be similar to last year's, Sirat said, without giving any company forecasts.
The container shipping sector continues to face overcapacity, a legacy of a ship order boom that preceded a global financial crisis in 2008. Reporting annual results at the end of February, A.P. Moller-Maersk, owner of the world's largest container shipping firm Maersk Line, said it expected overcapacity to persist until at least 2016.
Like its larger rival, CMA CGM is aiming to cut costs through a vessel-sharing alliance and the development of larger ships with greater fuel efficiency. The so-called P3 alliance will see Maersk Line, CMA CGM and No. 2 container shipping group Mediterranean Shipping Company (MSC) pool vessels on certain routes. CMA CGM is hoping for a mid-2014 launch, Sirat said in an earlier results call, echoing comments made by Maersk earlier this month. ($1 = 0.7271 Euros) Source : Reuters -Reporting by Gus Trompiz; Editing by Andrew Callus
Accidents and the compelling need for more technology
Left : A hook that has been adapted to meet the requirements of MSC.1/Circ. 1392. Photo : Mercator Media There is debate about how much more lifesaving equipment next generation shipping will need, writes Wendy Laursen. Free fall lifeboats have so far never been used for emergency evacuations in the Norwegian sector of the North Sea. However, the shortcomings of existing free fall lifeboat designs were revealed in a number of incidents that took place during testing conducted in 2005. They related to structural safety, human loads and headway. A joint industry project was subsequently initiated by the Norwegian Oil and Gas Association to find the reasons why. The project revealed that the SOLAS requirements, on which the design criteria were built, were based on lifeboat performance during test launches into calm waters and from heights significantly smaller than those encountered on host facilities on the Norwegian Continental Shelf. With larger waves and drop heights
than those presumed, the lifeboats were exposed to greater loads and damage, which explained the shortcomings revealed in 2005. As a result of these findings, DNV GL was asked to develop a new standard. The new Design of Free Fall Lifeboats – DNV-OS-E406 standard was launched in 2009 and revised the year after. Based on modern limit-state design methodology (rather than performance during drop tests), the standard was quickly embraced by the Norwegian offshore industry. The Petroleum Safety Authority Norway refers to the standard as the norm for the design of free fall lifeboats and Norwegian life boat manufacturers have models that comply. DNV GL is now promoting the use of the standard beyond the North Sea, and, with minor modifications, for shipping, says Arne Nestegård, chief specialist for hydrodynamics and moorings. “Today, maritime lifeboats and their release and retrieval systems are being developed according to design criteria based on SOLAS requirements. DNV GL believes that if the shipping industry decides to implement our free fall lifeboat standard, maritime lifeboat safety will be taken an important step further.” The situation can be seen as a perfect example of proactive change, rather than regulatory change being driven by response to accidents. However, for John Murray, director (marine) at the International Chamber of Shipping, one of the basic precepts of implementing changes at IMO level is a demonstrated compelling need which may not be the case in this instance, or in other discussions about potential changes to lifeboat regulations as a result of increasing Arctic shipping. “Clearly a lifeboat should be seaworthy, but I’m not sure that the Arctic has got significantly different or worse sea conditions from any other sea area and particularly from the North Atlantic. Equally, there is no history of lifeboat failures that inform a need for change. Fortunately, the number of abandonments into lifeboats is quite small, and equally, there is no record of lifeboats failing once launched. This is not an issue for the industry. “It’s very important to understand that it would be foolish not to account for the nature of the area, but no matter where it is, there is a coastal state responsibility to provide search and rescue services. Therefore you have to counter any arguments about remoteness with the point that the coastal state is still expected to do their bit and provide appropriate SAR services for an area under their jurisdiction. There is no evidence that the current equipment is in any
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way deficient for what is reasonably expected.” In other words, there is no compelling need, he says. Sometimes manufacturers can influence the industry; sometimes they make very sound proposals; and sometimes it can be co-incidentally to their commercial advantage to do so, creating a complex situation for decision-makers. He cites the call for heating in polar lifeboats when research done a few years ago indicates that once you have more than a few people inside them, they are self-heating. Over-heating rather becomes the problem. “While at first sight having upgraded lifeboats sounds good, the consequences need to be thought through. I understand why the concerns are being raised, but we need to look very carefully at whether or not there is a justification. Is there a compelling need, or are there other factors in play.” Where Mr Murray does see compelling need is in the replacement of sub-standard hooks. Things, however, are not going to plan as he sees it. At a recent meeting of the Industry Life Boat Group, consisting of lifesaving appliance user organisations such as ICS, OCIMF, Intertanko ITF and IPTA, members were advised by class that some of the flat-to-flat design hooks that Mr Murray thought would not meet the new standard, did in fact satisfy the requirements of MSC Circular 1392. “The concern with that is two-fold,” he says. “One, shipowners continue to be concerned about the need for safe hooks and were very keen to define the parameters of what a safe hook would be. It now appears that the guidance may not after all be clear. Second, although shipowners are fully committed to the need to change, let’s get it right once. We must avoid a repetition of the need to rehook lifeboats.” Mr Murray is also concerned about the lack of clarity on IMO’s GISIS database about what shipowners are required to achieve when upgrading hooks. “Some of the information on the database about the approvals is, in our view, less than informative. For example, it might say that a particular hook is now approved once upgraded with a particular kit, but there is no detail of what the modifications are or indeed what the kit includes.” Shipowners and operators are likely to have more to say on the issue of hook replacement. “It is very revealing that the majority of hooks on the market had to be corrected to be approved. That shows that right from the beginning they were not correct,” says Captain Kuba Szymanski, secretary general of InterManager. “Seafarers are still very angry that they have to have fall arresters. If the equipment is correct, why do we need this?” Another group within InterManager continues to lobby for very simple hooks and only partially enclosed lifeboats. “It may seem like discussion is settling down on the issues surrounding lifeboats, but that will change if another accident occurs,” says Captain Szymanski. In the meantime, manufacturers continue to innovate, and therefore challenge the industry to consider further change. Viking’s new LifeCraft system consists of the craft itself, a self-propelled inflatable vessel with four engines for a high degree of manoeuvrability, and safety and a storing and launching unit, either placed on deck or built in, containing up to four LifeCraft units with a capacity of 200 persons each. According to Viking vice president Niels Fraende, this is a product that completely changes the lifeboat versus liferaft discussion, at least when it comes to high-capacity evacuation systems. “Today’s larger and wider vessels mean that the number of passengers and the variation in trim height and list conditions can be enormous in a distress situation,” says Mr Fraende. “The LifeCraft is a hugely flexible evacuation system that can cope with such extremes.” There are more advantages to this hybrid solution. For example, a specially designed chute system helps evacuees with special needs, such as children, the elderly and those on stretchers. The system also takes up less room than lifeboats, freeing deck space for shipowners keen to provide their passengers with more cabins, shopping opportunities and other journey enhancements. Perhaps these considerations will forestall any discussion of compelling need. Source : The Motorship
The tug CYCLOP arrived with Rederij Groen’s newbulding hull 7-OCEANS in Stellendam where the hull was delivered
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New RAmparts 2500 Class Ship-Handling Tugs for SMIT-Rebras
Keppel Singmarine Brasil Ltda. (KSMB), of Navegantes, Brazil have recently completed the construction of the SMIT PARECI, the second of a series of six Robert Allan designed RAmparts 2500 tugs, for SMIT Rebocadores do Brasil (Rebras), of Rio de Janeiro. The SMIT Pareci was delivered in December of 2013, and follows its sister, the SMIT Pataxó, which was delivered in June of 2013. The RAmparts Class tugs are a series of proven, standardized Z-drive tug designs. Each of these designs has been developed from a successful prototype vessel or series of vessels, and refined to emphasize ease of construction and Owners’ specific requirements. This particular new series of RAmparts 2500 follows a successful series
of twelve similar tugs also designed by Robert Allan Ltd. for SMIT Rebras, with delivery of the last vessel of the class, the SMIT TUPINAMBA, in 2008. Robert Allan Ltd. worked closely with SMIT Rebras to develop this latest series, with significant changes including new engines complying with the latest IMO emissions standards, a new double drum towing winch and staple, a larger wheelhouse, a new streamlined skeg, updated fendering, increased fresh water capacity, and new electrical generators. The design retains the characteristic half-height raised forecastle which provides increased bow height for improved operations in exposed waters, and the same hull form providing maximum performance ahead and astern. The principal particulars of the SMIT PARECI, are as follows: Length overall : 24.40 metres Beam, moulded, extreme : 10.25 metres Depth, least moulded (hull) : 4.07 metres Maximum draft (DWL) : 4.50 metres Gross tonnage (GRT) : 271 tons
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The vessel has been built and classed to ABS notation, and Brazilian NORMAM requirements: ABS A1 Towing Se rvice , AMS
The propulsion machinery consists of a pair of CAT 3512C HD high-speed engines, each producing 1,379 kW at 1600 rpm, in compliance with IMO Tier 2 emissions requirements. This power is transmitted via a straight line shafting system to a pair of Schottel SRP 1012 fixed pitch azimuthing thrusters with 2100 mm diameter propellers in nozzles. On trials, SMIT PARECI, (and SMIT PATAXO ) met or exceeded all performance expectations with the following results: Bollard Pull : 46 tonnes Free Running Speed, ahead : 12.2 knots
The SMIT PARECI,, has the following design features:
Capacities: • Fuel Oil: 75 m3 • Fresh Water: 12 m3 Bridge Deck: • Wheelhouse: arranged to provide maximum all-round visibility, with overhead viewing windows, and a split console forward • A chart table is located to Port, along with access to the deckhouse at main deck level below Main Deck: • Double drum winch and staple forward, towing hook and capstan aft • Heavy bow fendering for ship-assist work • Well-appointed cabin for two officers, with private facilities • Mess / Lounge / Galley: Comfortable seating area with television and water cooler, adjacent to galley • Deck lockers: Integral deckhouse locker, and additional lockers in bulwarks forward and aft • Large escape hatches in accordance with NORMAM requirements • Flush-mounted, parts access/removal deck hatches • Large ventilation fan for providing fresh air to machinery space in hot local climate Below Main Deck: • Accommodation: Two quadruple (2 x 4) crew cabins, with shared lavatory facilities • Laundry, bosun store, and additional fridge for cold stores For more information on the SMIT PARECI,, other RAmparts Class vessels, or any other designs please contact us at [email protected]
M/T STOLT TOPAZ leaving DDW-PaxOcean shipyard at Singapore after a successful dry docking.
Petrobras Finds No Evidence of SBM Offshore Contract Bribes
Petroleo Brasileiro SA (PETR4), Latin America’s largest company by sales, found no wrongdoing by employees in connection with SBM Offshore NV (SBMO) contracts. An internal audit “concluded that, based on its investigations and restricted to its regulatory competence, no events or documents were found to evidence bribe payments to Petrobras employees,” the Rio de Janeiro-based oil producer said in a statement published in Brazilian newspapers, including Valor Economico. The audit committee was formed Feb. 13. Petrobras started the audit after Valor Economico reported Feb. 13 that a Dutch investigation into oil platform provider SBM’s possible improper payments to companies in three countries included Petrobras. Results of an internal investigation into the payments had been delivered to the Dutch public prosecutor’s office and the U.S. Department of Justice, Bruno Chabas, Schiedam, Netherlands-based SBM’s chief executive officer, said on a Feb. 6 earnings call with analysts. “We are pleased to note the conclusion of Petrobras’ investigation,” SBM, which gets almost half its revenue from Petrobras, said in a separate statement today. “The company hopes to be able to share more details on its internal investigation in the next few days.” Petrobras’s announcement comes amid attempts by opposition lawmakers to start a congressional investigation into the 2006 acquisition of a refinery in Pasadena, Texas. Source : Bloomberg
Jessica Acosta Promoted to Manager, Vessel Services
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T&T Salvage, LLC announces that Mrs. Jessica Acosta has been promoted to Manager, Vessel Services. Based in T&T's head office in the North Houston area, Acosta will be responsible for the daily management of the vessel services team of OPA 90 Compliance Specialists as well as interfacing with the compliance needs of T&T's ever-growing client base.
Acosta's talents extend beyond her unique ability to find effective compliance solutions and inject creativity into T&T's marketing efforts. Jessica's superb graphic design skills will continue to serve as T&T's branding and outreach mainstay. "I have great confidence in Jessica's leadership abilities," said DeeAnn McMillen, Director, Vessel Services. "This new leadership appointment will allow us to deliver an even higher level of service to our worldwide OPA 90 - SMFF clientele." T&T SALVAGE, a Teichman Group company, is a comprehensive organization, created and inspired by the legendary Rudy Teichman. The dedicated professionals at T&T Salvage continue to pursue Rudy's vision, to provide safe and
cost-effective solutions to complex problems from those demanding quality salvage and wreck removal services. For more information on T&T Salvage please visit www.ttsalvage.com or email us at [email protected]
01-04-2014 : The ANSAC GLORY IMO 9319733, 200619883gt, (ex SANKO JUPITER) in to Melbourne off Portsea
No seizures yet after search of 3 vessels at Tuticorin port
A 10-hour search of three vessels docked at Tuticorin port, based on a tip-off that huge amounts of cash had been smuggled in, has failed to yield any seizures. After the thorough search, officials were on Sunday draining the palm oil in the containers of one of the ships to find if cash was stashed underneath.
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"We couldn't find any cash or contraband in the ships," said ADSP D Kanthasamy of the state police, who headed the search team. "We've started draining palm oil in four of the 10 containers meant for dispatch from Tuticorin port."
Of the three vessels, Mt Brixham and Theresa Aquarius are carrying furnace oil and palm oil, and M V Splendour is carrying timber. While it might take a day or two to drain the oil off the containers, the tip-off has exposed the perils of a porous coastline being used for smuggling activities and awoken the security agencies to the possibilities of ships being used for large-scale smuggling.
Tuticorin collector M Ravikumar, who supervised the search operations, said the Election Commission had asked the coast guard and coastal security group to closely monitor all ships on the high seas. "Boats getting near the vessels would be under tight vigil," he said. The EC has also asked officials to collect details of all ships berthed in the port, the commodities unloaded or loaded and the buyers. Sources in the security agencies said not just contraband, various other commodities are also smuggled through ships. They said ships hovered in the international waters while boats would be used to ferry the consignment clandestinely to the coast and vice-versa. Smuggling of diesel, vegetables and groceries is a thriving business in the port town of Tuticorin. Sources in the intelligence agencies said the smugglers rope in gullible fishermen, greedy boat owners and anti-social elements. Smuggling is not limited to Tuticorin but spread across Ramanathapuram, Nagapattinam and beyond. A coast guard officer said they would receive tip-offs about clandestine activities in ships, but could not search them since the vessels would be docked in international waters. "The preferred modus operandi is using country boats to sneak in the contrabands from the ships to the coast after dusk," he said. "Unlike mechanised trawlers, these country boats cannot be easily spotted or tracked in the night." Source : Times of india
The Boskalis pushertug TERRAMARE 1 seen pushing the TERRAFERRE 301 to the Calandcanal in Rotterdam
It has been confirmed the fault on the ferry MV Isle of Lewis is with her electronics. After a day of frustration for stranded and rerouted passengers, operator Caledonian MacBrayne finally revealed the cause.
Specialist engineers were en-route to Stornoway where the vessel is tied up to examine her electronic control system. It is now understood that it is not a fault that has been recurring and is unconnected with other recent issues which led to delays and cancellations. A spokesman for CalMac said they would know
more about how long she would be out of service once the engineers had a chance to investigate. He explained: “We
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are hopeful it can be fixed quite quickly but are reluctant to give precise timescales at this stage. Source : maciverblog
The UACC IBN AL HAITHAM approaching the IJmuiden locks assisted by the Iskes tugs SVEZIA and HERCULES
Photo : Capt. Peter Maanders
DP World open to more UK investment after London Gateway
Port operator DP World has opened the door to further investments in the UK beyond the London Gateway and its terminal in Southampton. “We always monitor the market and if there is a location in the UK that our customers want we will be there,” Sultan Ahmed bin Sulayem, chairman of DP World told the Telegraph.
London Gateway, located at the mouth of the Thames, received its first cargo vessel in November after a £1.5bn investment led by DP World, which is 80pc owned by Dubai’s government. However, the port has experienced a slow start and is currently handling just three vessels per week after signing up six major customers, said Mr bin Sulayem.
“You talk about Gateway, you talk about a greenfield project and it’s not easy to start from scratch especially in a mature market like the UK. But it will eventually allow the UK to become not just an import market but an export market,” said Mr bin Sulayem. The project, which DP World inherited through its acquisition of P&O Ports in 2005, will eventually handle 3.5m containers per year and create about 27,000 jobs in London and the South East of England. Mr Sulayem said that DP World is currently in talks with several companies to set up in the adjoining logistics park at the facility in Thurrock, Essex.
Marks & Spencer has agreed to open its third major national distribution centre at London Gateway.
Last year was a challenging year for DP World amid a slowdown in global trade from Asia and some emerging markets. The company, which is partially listed in London, said earlier this month that revenues had dropped by 1.5pc to just over $3bn in 2013 after cargo volumes slipped by 3.8pc. Profits excluding separately disclosed items climbed 10.9pc to $604m, compared with 2012. However, including separately disclosed items mainly related to the sale of ports in Hong Kong profits fell 13.4pc to $640m in 2013. Despite the tougher business climate last year Mr bin Sulayem said that DP World remains in a strong financial position.
“We can pay our debt in two years if we need to. We’re cash rich,” he said. Business has picked up in the first few months and the company expects that global container traffic will exceed a 5pc increase in activity led by developed markets this year.
“There is a feeling that the market is getting better in Europe,” said Mr bin Sulayem. Based on its current expansion plan, DP Beyond Europe, the company is developing its business aggressively in Africa and Mr bin Sulayem said the ports operator is poised for an upturn in the Middle East if Iran emerges from the current international sanctions which restrict trade. “Historically Iran before sanctions was one of our biggest markets and if it comes back it will be significant,” said Mr bin Sulayem.
Based on its current expansion plan and the opening of new facilities at its main hub at Jebel Ali in the UAE, DP World will increase its capacity by another 30m twenty-foot-equivalent container units to 100m by 2020. Source: The Telegraph
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The 1979 built MLT flag anchor handling vessel SPARTAN towing the 2008 built hopper barge SAND CARRIER 101 entering Grand Harbour, Malta on Sunday 30th March, 2014 on her way to Rotterdam.
Sydney Ports get safety boost from personalised forecasts
Sydney Ports has invested in the latest weather technology as part of its ongoing commitment to improving harbour safety. Global weather intelligence company MetraWeather has been contracted to deliver real-time weather and marine forecasting information. The new services will provide regularly updated high resolution and probabilistic forecasts of important marine and weather conditions, likely to impact on the day-to-day and longer-term running of the port. Sydney Ports will also have access to MetraWeather’s interactive under-keel clearance safety and berth safety forecasts, helping to plan not only for the safety of ships in the harbour, but also for those wanting to enter.
"With the increasing amount of cargo, and the large number of cruise ship visitors we have through our ports, safety is a huge priority for us. With MetraWeather’s forecasts we know exactly what’s happening in the harbour and what’s on the horizon, so we can be prepared," said Sydney Ports Executive General Manager Operations and Harbour Master, Philip Holliday.
"Botany Bay is the second busiest box terminal in Australia and Port Jackson is home to the nation’s busiest cruise terminals - we have a major responsibility for the safe navigation of these ships and this real-time data will be of great assistance. "We chose MetraWeather’s service because it provides the information we need in a usable way," said Captain Holliday. "The forecasts are crucial to the running of the ports. They help ensure the safety of cruise ship passengers as well as the security of freight. In the long-term, the forecasts will help improve safety practice and protocol, and will aid us in reducing workplace incidents." MetraWeather Business Development Manager Peter Fisher said the company would deliver wind speed, direction and gusts as well as wave height, and swell and tide through its online industry-specific MetOceanView technology. "Our expertise in advanced numerical weather prediction, classic meteorology and oceanographic forecasting means we’re able to deliver forecasts ideally tailored for companies such as Sydney Ports. These forecasts not only help them plan for their activities in the harbour, but the information also lets the ports monitor weather systems well outside the port area that are likely to impact on the safe travel of vessels heading towards the port," he said. "Sydney Ports aspires to be a leader in world-class, efficient and sustainable ports
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Seaspan Corporation announced that it has exercised options for the construction of four 10,000 TEU class containerships at Jiangsu New Yangzi Shipbuilding Co., Ltd. and Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. These vessels are scheduled for delivery in 2016 and will be constructed using Seaspan's fuel-efficient SAVER design. Source : The Wall Street Journal
SAL Heavy Lift Transports Installs 1,250 Tonne Shiploader Off Australian Coast For
Adani Mining
Marks conclusion of highly complex 12-month project
SAL Heavy Lift, the leading heavy lift vessel operator, has successfully completed a major project to transport and installed 1,250 tonne coal shiploader at Abbot Point in Queensland, Australia.
This marks the conclusion of a year-long, technically complex project whereby, early last year, SAL Heavy Lift first transported the shiploader from Abbot Point to New Port shipyard at Mokpo, South Korea, for refurbishment and upgrading, returning it to Abbot Point earlier this month. The shiploader is owned and operated by the Adani Mining Company. The project began when the shiploader was loaded at Abbot Point, in January 2013, by the
SAL Heavy Lift Vessel (HLV) MV LONE. It was transported back this month on the MV SVENJA. Both vessels are in SAL Heavy Lift's Type 183 range, featuring 2,000 tonne crane lift capacity and up to 20 knots service speed.
“A key point in this project was the difficulty of loading the shiploader from the jetty in open water at Abbot Point and returning it to the same position,” explained Justin Archard, managing director of SAL Heavy Lift, Singapore Pte Ltd and Australia Pty Ltd. “This was made complex by the big difference in height of the jetty above the water line and the height of the ship’s deck. It meant lifting the shiploader very high to achieve sufficient clearance. Issues of tidal range and vessel stability were instrumental in the planning stage.”
Prior to upgrading, the shiploader had been in service for 20 years. On the outward voyage to South Korea, the shiploader weighed 1,050 tonnes. Following its upgrade, its return weight was 1,250 tonnes due to steel and other material additions. Previously it was capable of loading bulk carriers at 5,000 tonnes per hour. It can now load at 7,000 tonnes per hour.
SAL Heavy Lift owns and operates 16 purpose-built Heavy Lift Vessels (HLVs) of which two are the type 183 – MV LONE and MV SVENJA. The vessels are the most powerful currently in world service.
Evergreen slips to bigger loss in 2013
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Taiwan's container carrier Evergreen Marine posted a deeper net loss in 2013 as revenue fell amid the challenging container shipping market. The Taipei-listed line recorded a loss of TWD2.04bn ($67m), widening from a deficit of TWD211m in 2012. Revenue was also down slightly to TWD1.39bn in the financial year ended 31 December 2013 compared to TWD141bn in the previous year. Evergreen's operating cost went up to TWD138.8bn last year compared to TWD136.8m in 2012. Source : Seatrade Global
Singapore-flagged vehicle carrier Baltic Breeze collides with a Spanish fishing
vessel off the Port of Vigo, Spain Wallenius Marine Singapore, Ship manager and UECC, charterers of the Singapore-flagged vehicle carrier Baltic Breeze regret to report that the vessel was in contact with a Spanish fishing vessel at approximately 0100 UTC April 1st, some 1.5 nm off the Port of Vigo, Spain, the company said in its press release. It is understood that the Baltic Breeze immediately lowered a rescue boat to assist the search for survivors and that the Port authority deployed their rescue boat and helicopter. It is further reported that 5 persons were rescued from the water but there are 3 casualties and 2 persons still unaccounted for. Baltic Breeze was not carrying any cargo at the time of the incident. She was scheduled to load cargo in Vigo and proceed to Algeria. No locally produced vehicles were planned to be loaded. Wallenius Marine Singapore and UECC regret the loss of life from the fishing vessel and offer heartfelt
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condolences to the families at this tragic time. All involved parties will be co-operating fully with the authorities investigating this incident. Source : PortNews
NAVY NEWS Navy Fights to Stay Ready with Fewer
Dollars The 2015 Pentagon budget submission dealt a $15 billion blow to the U.S. Navy relative to the planners' forecast, which has forced the sea service to adjust priorities to maintain readiness. At the same time the Navy is trying to get away from 10-month deployments that have robbed sailors of predictability with their home lives -- the kind of atmosphere that historically has reduced retention of highly trained service members. There is an inherent tension between trying to do the mission with less funding while attempting to improve a sailor's quality of life, Navy officials said. "There's no doubt we've had to take a hard look at areas to cut back -- slowing the growth of compensation costs, reducing our aviation procurement by 21 aircraft and maintaining an option to inactivate an aircraft carrier and it's air wing," Rear Admiral William Lescher wrote on the Navy's official blog. "But we're confident [we've made] the right
choices where needed." In late January, Adm. Bill Gortney, commander of Fleet Forces Command, the organization responsible for training, manning, and equipping units to deploy, laid out the Optimized Fleet Response Plan. The O-FPR -- chock full of jargon and buzzwords like "Readiness Kill Chain" and "drivers to production" -- was designed to "break down institutional barriers, increase understanding of readiness production, ensure a common understanding of Navy readiness on the same page." The plan was created to prevent recent chains of events that have resulted in 10-month deployments as the norm. Some of the chaos was the result of presence requirements due to events in places like Syria that kept the carrier Nimitz on station several months longer than anticipated. But in other cases the impacts to readiness had nothing to do with world crises. Last
year the Eisenhower Strike Group "faced maintenance challenges which delayed her work-ups and deployment and then she conducted a second deployment after a short homeport visit," according to Navy officials. The Truman Strike Group was "trained up and then delayed due to a change in presence requirements." The net effect of these circumstances was wasted operations and maintenance dollars and the death of predictability that would have made sailors' lives easier. Fleet Forces Command officials call the O-FRP "supply-based," which they claim makes the plan somewhat immune to budget reductions. In fact, FFC planners coined a term to describe how they are leading forces through the "tough fiscal turbulence" expected over the coming years: "Managed Wholeness." Officials said they've prioritized available dollars in a way that preserves readiness. "First, we are investing in the sailor by ensuring we are providing the schooling and on-the-job training required for them to properly complete their missions and come home safely," an FFC official who asked to remain anonymous said in an email response to Military.com. "Second, the Navy is continuing to invest in the Fleet Synthetic Training program to ensure the ships, squadrons and strike groups are being trained to meet current and future threats, which include development of new tactics and procedures for best use of our systems to thwart threats to the nation." FFC officials also point out that quality of life has as much to do with time away from home between deployments as it does with time actually deployed. The O-FRP attempts to solve part of this by aligning carrier strike group unit's training cycles throughout the time between deployments. "When examining [destroyer squadron] alignments in conjunction with O-FRP, we saw an opportunity to fix numerous discrepancies, such as wholesale surface combatant swap outs between [carrier strike group] multiple deployments as well as integrating [ballistic missile defense] capability into CSGs," according to Navy officials. FFC has also examined the efficacy of previously required inspections and eliminated those deemed to be redundant or unnecessary. The Truman Carrier Strike Group will be the first to conduct deployment preparation using the tenets of the O-FRP this November. Navy officials were quick to point out that the O-FRP is subject to the operational requirements placed on the service. "The world gets a vote," Adm. Gortney said when rolling out the program at the Surface Navy Association convention in DC in January. Source : Military.com
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R/V Neil Armstrong: One Small Step Will Mean Giant Leap for Navy's Research Fleet Chief of Naval Research Rear Adm. Matthew Klunder joined family members of the late Neil Armstrong March 29 to christen the Navy's newest research ship, named for the legendary astronaut and first man to walk on the moon.
The lead Auxiliary General Oceanographic Research (AGOR) ship in its class, the research vessel (R/V) Neil Armstrong (AGOR 27) began construction in 2012 and will be delivered to Woods Hole Oceanographic Institution in January 2015 to continue studies in the Atlantic, western Pacific and Indian ocean regions. "I can't think of a better name to go on the side of a ship designed for exploration and discovery," Klunder said. "R/V Neil Armstrong will play a pivotal role in teaching the Navy about the ocean so we can more effectively plan our operations around the world." The Navy, through the Office of Naval Research (ONR), has been a leader in building and providing large ships
for the nation's academic research fleet since World War II. The newest addition to the fleet, R/V Neil Armstrong will replace R/V Knorr (AGOR 15), which will be retired at the end of the year after nearly half a century of service.
R/V Knorr was launched during the same decade as President Kennedy's vow to put a man on the moon and the famed Apollo 11 mission that fulfilled that vision. It is best known for carrying researchers on the 1985 expedition that resulted in discovery of the Titanic. In all, R/V Knorr has traveled more than a million miles-about the same distance as two trips to the moon and back. "Now the R/V Neil Armstrong will provide a continuum
of exploration for the next 50 years," said Carol Armstrong, the astronaut's widow and sponsor of the ship.
The new ship is 238 feet long and equipped with the latest technologies, including a high-efficiency diesel engine, emission control for stack gasses, information technology tools for monitoring shipboard systems and communicating with the world, and hull coatings that should result in fewer maintenance issues. It will operate with a crew of 20 with accommodations for 24 scientists who will use the ship and its assets to collect samples and data from both coastal and deep ocean areas.
In addition to officials from ONR, the christening at the Dakota Creek Industries, Inc. shipyard in Anacortes, Wash., was attended by the oceanographer of the Navy and representatives from the secretary of the Navy's office. Kali Armstrong, the late astronaut's granddaughter, was maid of honor. Source : US Navy
On Tuesday 18 March, three EU Naval Force warships, FS Siroco, FGS Hessen and ESPS Relampago gathered in the Gulf of Aden for a joint replenishment at sea (RAS) with the American logistics ship, USNS Pecos from Task Force 53. Photo : EU-Navfor Somalia
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Spanish Navy Ship Stops Over in Lobito Port
The ship "Infanta Elena" belonging to Spanish Navy will make a stop over in Port of Lobito, southern Benguela province, between 6 and 10 April. According to a press release from the Spanish Embassy in Angola, sent to Angop Monday, the Infanta Elena's visit, the first of the kind to Angola, is aimed at strengthening relations between the branches of both countries. The vessel's tour also includes several African countries. The intention is to strengthen ties with friendly countries as well as closer cooperation on maritime security. Source : AllAfrica
SHIPYARD NEWS
NDSQ Signs Two MoUs Worth a Total of QAR 3.1bn with Qatar Armed Forces
Nakilat Damen Shipyards Qatar (NDSQ) and Qatar Armed Forces have signed two MoUs for the construction of seven vessels at Qatar’s premier shipyard
Qatari shipbuilder Nakilat Damen Shipyards Qatar (NDSQ) has signed two Memoranda of Understanding (MoU) worth QAR 3.1 billion to build seven vessels for Qatar Armed Forces. The MoUs were signed on Thursday 27th March during the DIMDEX event at Qatar National Convention Center (QNCC). Once all the necessary agreements are finalized, the vessels mentioned in the MoUs will be constructed in the State of Qatar by NDSQ at its shipbuilding facility at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan. The MoUs signed by NDSQ and Qatar Armed Forces concern six 50m-long axe-bow high-speed patrol vessels and one 52m-long diving support vessel for the Qatar Armed Forces. All vessels are highly sophisticated state-of-the-art naval ships built based on proven designs providing unparalleled seaworthiness. The diving support vessel includes decompression capabilities. A large Integrated Logistic Support package is also mentioned in the MoUs.
Eng. Abdullah Fadhalah Al Sulaiti, Managing Director of Nakilat and Chairman of NDSQ, said: “We are delighted with these MoUs, both for our company and for our country. To be given the opportunity to build these vessels in Qatar for Qatar will be an incredible achievement and a strong contribution to the continued growth of our nation’s marine industry. These MoUs are confirmation of the State of Qatar’s world-class shipyard capabilities. “We are thankful to HE Major General Hamad bin Ali al-Attiyah, Minister of State for Defence and we also thank Qatar Armed Forces for
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placing their trust in our company and in Qatar’s marine industry. We look forward to working closely with Qatar Armed Forces and to finalizing the details of this agreement”.
NDSQ is a joint venture between Nakilat and Dutch shipbuilder Damen and is based at Erhama Bin Jaber Al Jalahma Shipyard in the Port of Ras Laffan, Qatar. NDSQ began operations in 2010 and builds ships in steel, aluminum and fiber reinforced plastic (FRP), up to 170m in length. For more information visit: www.ndsq.com.qa. Nakilat is a Qatari marine transport company providing the essential transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising 58 LNG vessels. Nakilat also manages and operates four large LPG carriers. Via two strategic joint ventures, N-KOM and NDSQ, Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard. For more information visit: www.nakilat.com.qa.
Cochin Shipyard (CSL) launches the eighth Fast Patr ol Vessel
Cochin Shipyard has launched the eighth of the 20 Fast Patrol Vessel being built for Indian Coast Guard, the company said in its press release. The vessel was launched by Smt Arti Bhatnagar, Joint Secretary & Finance Manager (Maritime Systems), Ministry of Defense in a simple ceremony at Cochin Shipyard. Cmde K Subramaniam, CMD, CSL, Shri Ravikumar Roddam, Director (Finance), CSL, Shri Vinayakumar P, Director (Technical) and other senior CSL officials were present on the occasion. The launch of the vessel comes on the heels of the delivery of the fifth vessel CGS Achook which was handed over to the Coast Guard on 28 th March 2014. The first reading of D 448 (Acceptance protocol of delivery of fifth FPV) was signed by Capt R S Sundar, Director (Operations), on behalf of CSL and commanding officer designate of BY 505 (ICGS ACHOOK) Lt Cdr Rahul Gautam of Indian Coast Guard. DIG Vivek Vajpayee, Principal Director (Materials) , Indian Coast Guard and DIG T P Sadanandan, CGRPS (Kochi) were present on the occasion. This is the seventh ship that the yard has delivered this financial year. CSL delivered four fast patrol vessels to Indian Coast Guard and two high end Platform Supply Vessels to Norwegian owners, earlier. The last six months have been an extremely busy period for the shipyard with seven deliveries being made, virtually one ship every month. The highpoint of this year’s performance for the shipyard has undoubtedly been the launching of the most prestigious warship of the Indian Navy “Vi krant” on 12 August 2013. The launching of its own aircraft carrier has catapulted India to a select club of 5 nations capable of building aircraft carriers of this size. Source : PortNews
Myklebust Verft deliveres Sanco Sword to Sanco Shipping ahead of schedule Sanco Sword was delivered from Myklebust Verft to Sanco Shipping 27 March 2014, and is now on her way to the Barents Sea where she will commence seismic operations. Sanco Sword is on a five year contract with Dolphin, the company said in its press release. We are very proud to take our latest high capacity seismic vessel on charter from Sanco Shipping. Myklebust Verft, the vessel owner and their professional staff have once again demonstrated their
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best in-class capabilities. They have completed this complex seismic vessel on budget, ahead of schedule and fully rigged ready to commence seismic operations for Dolphin," Atle Jacobsen, CEO of Dolphin said in a press release. Source : POrtnews
ROUTE, PORTS & SERVICES
The Dutch pilot tender ENTERPRISE casting off from Spliethoffs FORTUNAGRACHT after delivering the pilot –
Photo : FLYING FOCUS luchtfotografie - www.flyingfocus.nl CLICK on the photo
Aberdeen Shipping Firm Warns of Criminal Fraud
Vroon say their name is being used to obtain money... Vroon said on Friday that, once again, they have become aware that a fraudulent organisation is using the name of Vroon Offshore Services Ltd., Aberdeen (including logo and address) to contact seafarers. The strategy of this organisation is to tempt potential employees with job offers, usually by email at first and then by phone. They offer a
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job involving travel and then request money for visa or work permit applications. The individuals behind this operation are criminals and are not recruitment representatives of Vroon, the company stressed.
"All seafarers should note that Vroon companies never charge money to seafarers for recruitment services, visa or other immigration-clearance activities. " Vroon gave some advice on how to recognise the fraudulent use of their name: An offer comes from an email address like: [email protected]. Vroon never uses gmail.
The offer document/email may seem unprofessional. For example, it may contain a poor quality or distorted logo, poor quality pictures and/or poor English grammar. The application comes with a questionnaire asking for personal details regarding your family.
Money is asked for visa/work permit applications and you may be referred to a visa processing organisation who will request money via Western Union or other anonymous destinations. The offer includes a mobile phone number(s) instead of one of Vroon office numbers. All seafarers interested in employment with a Vroon company should ensure any contact is made directly with a bona-fide Vroon office. All contact details and our on-line application form can be found on the Vroon website (www.vroonjobs.com ). Source : ShippingTimes
Vroon acquires Petrolmar Vroon has acquired all shares in Petrolmar S.p.A., the company said in its press release. Petrolmar operates three bunker barges (Santa Rita, Santa Giulia and San Francesco), from the ports of Genoa, Savona, La Spezia and Marina di Carrara, plus two bitumen tankers (San Matteo and San Lorenzo). For the time being, no changes will be made to the organisation or operations of the company
Nam Cheong secures sale contracts for 2 vessels worth S$54.4m
Contracts involve an AHTS and PSV.
The Board of Directors of Nam Cheong Limited (Nam Cheong) is pleased to announce that Nam Cheong International Ltd., a wholly-owned subsidiary of Nam Cheong, has secured sale contracts with a total value worth US$43.1 million for one unit of Anchor Handling Towing Supply Vessel (AHTS) and one unit of Platform Supply Vessel (PSV). The AHTS was sold to an emerging player in the oil and gas sector, a subsidiary of a new customer, Kayfour Development Corporation Sdn Bhd, which will be operating the vessel via its subsidiary, Multi Marine Venture Sdn Bhd. Sale of the PSV was made to a repeat customer in West Africa, E.A. Temile and Sons Development Company of Nigeria Limited, an established engineering and construction company.
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Revenue from the contracts will be recognised over the relevant contractual period in accordance with the Group’s revenue recognition policy. The contracts are expected to contribute positively to the earnings of the Group for the financial year ending 31 December 2014. With the contracts, Nam Cheong’s order book stands at approximately RM1.4 billion. None of the Directors or controlling shareholders of Nam Cheong has any interest, direct or indirect, in the above transactions other than through their shareholdings in Nam Cheong Source : sbr.com.sg
OEL joins with Yang Ming for Vietnam service
Orient Express Lines Singapore (OEL) will start a Straits Vietnam Straits (SVS) service on April 8. The service will be jointly operated by OEL and Taiwan’s Yang Ming Marine Transport, each contributing a 1,800 teu ship.
Both the vessels would be scheduled for fixed day port calls at Haiphong, Ho Chi Minh City, Singapore and Port Klang.
“This new venture would expand the OEL network in the South East Asia region, and onward to the South China area,” OEL said in a release. “We are constantly monitoring key demand areas and are in continuous dialogue with our customers to jointly develop cost effective solutions,” Biju Oommen, OEL’s ceo told SeaShip News.
OEL has a fleet of owned and chartered tonnage and is further expanding the fleet by acquiring three 1,700 teu vessels during 2014. Source : SeashipNews
Dredging project in Mekong delta restarts A stalled dredging project has resumed which will eventually allow ships of up to 20,000 dwt sail down the Mekong delta region. Dredging of 46.5 km of the Hau River and nearby canals has restarted after years of being on hold due to financial constraints. The project is likely to cost twice the original VND5trn earmarked once finished at the end of next year. According to the Vietnam Maritime Administration, the volume of cargo transported via waterways in the Mekong Delta in 2012 was only 6.6m tons compared to the demand of 30m tons. Up to 80% of import-export cargoes had to transit in Ho Chi Minh City before being shipped to the buyer, since the Hau River waterway only allows for vessels of 5,000 dwt, causing the transport cost to surge by US$170-180 a container. Source : Seashipnews
Ship owners take a breather from newbuilding ordering activity
Newbuilding ordering activity has slowed down over the course of the past week, in an indication that ship owners are looking to adopt a "wait-and-see" strategy", in terms of both the course of the freight market, as well as the pricing from shipyards. In its latest weekly report, shipbroker Golden Destiny noted orders for 27vessels, with a total deadweight of 1,416,900 tons, while an additional 14 transactions were done at an undisclosed price. In total, the invested capital revealed was for $543 million for 13 new orders (11 bulkers, 2 trankers, 1 gas tanker, 8 liners and 5 special projects).
Newbuilding activity was 57% down on the week and 33% on the year. "The largest volume of newbuilding activity is reported in the bulker/liner segment, while only 2 contracts are reported in tanker and 1 in the gas tanker segment.
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Bulkers held 41% share of this week’s ordering activity; tankers 7% share, gas tankers 4% share, liners 30% share and special projects 19% share, while no activity is reported for containers". The shipbroker added that "compared with previous week’s levels, a large of 300% is recorded in the liner segment (8 new orders from 2 last week) and 67% in the volume of new orders for special projects (5new orders from 3 in the last week). A weekly decrease of 68% is recorded in the bulker segment (11 new orders from 34 in the last week) and 75% in the tanker segment (2 new orders from 8 last week)".
Meanwhile, in a separate report, shipbroker Clarkson Hellas noted that "although the original contracts were signed at the end of last year, Berge Bulk are understood to have converted an order for four 250,000 DWT VLOCs at Longxue to a larger 300,000 DWT design. These latest vessels are due to deliver in 2016, and are in addition to an existing order for four 250k ore carriers contracted by the same buyer in mid-2013. In Japan, domestic buyer Santoku Senpaku has contracted two firm 84,000 DWT Post-Panamax bulk carriers at Sasebo, with delivery planned within the first half of 2016. In the smaller sizes, Nordic Hamburg Shipping have added three further 37,300 DWT Handysize at Nanjing Dongze. This take the series to a total of six vessels, with delivery in 2015. Additionally, Sesoda Steamship are understood to have contracted a single 33,000 DWT Handysize at Shin Kurushima’s Onishi facility, delivering in 2016", the shipbroker said.
Clarkson Hellas added that "in gas, Astomos Energy Corporation have announced an order for one firm 83,000 CBM LPG carrier at Mitsubishi in Japan, with delivery due in mid-2016. In China, Nantong Hongqiang are reported to have taken an order for one firm 14,000 CBM small LNG carrier from domestic buyer Zhejiang Huaxing Shipping, due to deliver in the second half of 2015", the shipbroker concluded.
DEMOLITION ACTIVITY In terms of demolition activity, Golden Destiny noted that "the first quarter of the year ends with an increasing trend in scrap prices offered in the Indian subcontinent region and China lagging behind after the end of Chinese New Year. India still leads the game in the Indian subcontinent region with firm container disposals leading to excessive scrap prices seen from February as market fundamentals (steady currency / local steel prices) for Alang shipbreakers supported such levels offered of above $450/ldt. During the last days of March, Bangladesh also emerged very competitive for securing new tonnage for bulkers at levels of nearing to $470/ldt for vessels included sufficient amount of bunkers.
In terms of deadweight sent for scrap, there has been 1% weekly increase with sustained weak reported activity for disposals in large vessel sizes. (only 1 capesize bulker reported for disposal). India is reportedly to have won 6 of the 12 demolition transactions, Bangladesh 3, Pakistan 0, China 1 and 2 reported vessel disposals at undisclosed demo country.
Benchmark scrap prices in the Indian subcontinent region: $420-435/ldt for dry and $450-$465/ldt for wet cargo. Scrap prices in China hover at $320/ldt for dry and $330/ldt for wet cargo. Notable demolition transactions: Reported in the container segment, M/V “JOLLY” 2,098 teu with 11,197 Ldt built 1992 fetched $500/ldt in India due to extra heavy propeller. At a similar week in 2013, demolition activity was up by 75%, in terms of the reported number of transactions, when 21 vessels had been reported for scrap of total deadweight 1,104,001 tons with 9 disposals for bulkers, 4 tankers, 1 liner, 2 containers, 4 reefers and 1 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering lower levels of the current year, $405-415/ldt for dry and $430-$445/ldt for wet cargo", Golden Destiny concluded. Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide
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OLDIE – FROM THE SHOEBOX Na aanleiding van de foto van de OOSTZEE eerder deze week kreeg ik het volgende opgestuurd van Bart Westerbeek welke toen aanboord van de OOSTZEE zat, wat zijn eerste grote reis bij Smit was, die zuiger was de
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“Ifrica” die het begin van de haven Sihanoukville moest graven dat was in 1965 en er was daar nog niets alleen een hele arme kampong en een steigertje voor kleine motorbootjes en wat vissermannen. Die zuiger is bijna nog gezonken in de middellandse zee, ze had een scheur opgelopen in de bodem van de machinekamer van bijna een meter lang en liep snel vol, we hebben dat gat gestempeld met een zij spek en een matras van de runners en daarna cement erover. Ze had geen dubbele bodem onder de machinekamer en als we de platen van de werkvloer optilde zag je het licht van die scheur, voor de rest stond je in het water met olie en troep te werken! Die reis was voor mij het eerste grote avontuur bij Smit! - Bart Westerbeek
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The Iskes tugs, BRENT, GINGER and TRITON awaiting the departure with the BORWIN BETA from the
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