DAILY COLLECTION OF MAR ITIME PRESS CLIPPINGS 2015 –...

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2015 – 103

Distribution : daily to 32.750+ active addresses 12-04-2015 Page 1

Number 103 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Sunday 12-04-2015

News reports received from readers and Internet News articles copied from various news sites.

The DES DE MONA is aground at Mona Island, Puerto Rico since June 2012

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09-04-2015 : The 2009 delivered , 294 mtr long and 32 mtr width SONCHE TRADER (ex CSAV Suape) IMO

9437048, inbound for Rotterdam-Maasvlakte Photo : Krijn Hamelink

CMA CGM now offers connections between Houston and West Africa

In addition to its KHULU direct line between Houston and East and South Africa, and with the upcoming launch of its MEDGULF line, CMA CGM is pleased to inform its customers of its new connection opportunities between Houston and West Africa. Each week, MEDGULF connects the Mediterranean with US Gulf and the Caribbean and deploys a fleet of 6 vessels of 1,700 TEU capacity. MedGulf connections with caption2 Starting with m/v TAURUS, in Houston on May 19th, 2015, cargo bound for West Africa will connect in Tangier on one of our 5 EURAF lines and Guinea Express, with only one transhipment instead of two, thus significantly reducing the transit times.Some transit times from Houston, in days: Tangier 14 | Dakar 28 | Abidjan 30 | Cotonou 30 | Tema 34 | Apapa 24 | Tin Can 24 | Douala 45 | Matadi 40 | Luanda 35 | Lobito 39 | Namibe 42 Source: CMA CGM

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Van Oord installs 1st turbine at 129-MW wind farm in Dutch waters

Dutch offshore contractor Van Oord said on Wednesday it has erected the first turbine at the site of the 129-MW Eneco Luchterduinen wind project off the coast of the Netherlands. In a statement, the company said it will install the remaining 42 wind turbines during the coming weeks, with the goal of completing the wind park in August 2015. Van Oord is using its new transport and installation vessel, the AEOLUS, for the purpose. The particular project was developed jointly by local energy company Eneco and Japan’s Mitsubishi Corp. It will consist of 43 pieces of the 3-MW V112 turbines manufactured by MHI Vestas Offshore Wind, a joint venture between Denmark’s Vestas and Japan’s

Mitsubishi Heavy Industries.Once completed, the Eneco Luchterduinen offshore wind farm will be able to generate enough power to cover the annual electricity consumption of nearly 150,000 homes. Source : renewables.seenews Photo : FLYING FOCUS luchtfotografie www.flyingfocus.nl ©

Evergreen, Simatech to launch weekly India-Mideast service

Evergreen Line and Simatech Shipping have reached a vessel-sharing agreement to jointly operate a new container service connecting the Indian subcontinent and the Middle East, starting in early May. The weekly loop, branded the Chennai-Colombo-Gulf Service, or CCG, will employ four vessels of around 2,000 20-foot-equivalent units capacity, with three of the ships deployed by Simatech and one by Evergreen.The port rotation for CCG will be Colombo, Sri Lanka; Vizakhapatnam, Krishnapatnam and Chennai, India; Colombo; Cochin, India; Jebel Ali, United Arab Emirates; Sohar, Oman; Cochin and back to Colombo. The first CCG vessel has an estimated departure from Colombo on May 9. The new service will help further push the growth of Krishnapatnam port, a privately operated, modern alternative gateway to India’s southeastern hinterlands. About 112 miles north of Chennai, Krishnapatnam reported a 57 percent jump in container volume in fiscal year 2014-15, which ended March 31, port officials told JOC.com.“In addition to providing efficient transportation services linking the major ports of southern India and Sri Lanka with the gulf, this important intra-regional service will also connect to Evergreen's global service network via its transshipment hub in Colombo,” Evergreen said in a trade advisory.Evergreen is ramping up its India service network via cooperation with Dubai-based intra-Asia container carrier Simatech. The Taiwanese operator last week entered a slot-charter deal with Simatech in the intra-Asia India-Far East Express (IFX2) vessel-sharing agreement, which



includes Wan Hai Lines, Pacific International Lines, “K” Line and Shipping Corporation of India. Evergreen is also a co-loader in the India-Far East Express (IFX) service operated jointly by Simatech, Hanjin Shipping and T.S. Lines. Source : Journal of Commerce

The LAMNALCO NYALA at the NWDM Yard, Merogun, Warri – Nigeria and the jack up barge BULL RAY at the

neighbour’s yard. Photo : Dirk van Uitert ©

Rolls-Royce Delivers Far Sleipner Rolls-Royce would like to congratulate Farstad Shipping ASA for their recently named highly advanced subsea and

construction vessel FAR SLEIPNER. The event also marks the first delivery of a vessel equipped with the latest generation dynamic positioning system DP3 from Rolls-Royce. Designed and built by Vard (Vard 3 07), the vessel is equipped with Rolls-Royce bridge controls, DP3, engines and propulsion. Børge Nakken, Farstad Shipping, Vice President Technology & Development, said: “The DP3 positioning system

onboard FAR SLEIPNER ensures that the vessel stays in position, even in the event of an unforeseen situation, for instance if one out of two separate machinery systems fails. This enables the vessel to complete its task in a safe and efficient manner.”The main difference between a DP2 and DP3 dynamic positioning system is related to redundancy and tolerance for system failure. All key components of the systems are doubled up in a DP3 system. This ensures that

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for instance neither a flooding nor a fire in one part of the vessel will make it lose position and require the operation to be halted.

John Knudsen, Rolls-Royce, President Commercial Marine, said: “It’s been a privilege to work closely with both Farstad and Vard on this project. We’ve walked several paths together towards innovation before, but this is probably one of the most advanced projects we’ve worked on so far. When all components in a ship system must be able to function and be controlled independently across fire zones, the complexity of the automation and control systems increases significantly.” FAR SLEIPNER is designed for subsea and construction/IMR operations down to 3,000 meters water depth, has an overall length of 142.6 meters, beam of 25 meters and a deck area of 1,800 m². The vessel is arranged for three ROV’s (Remote Operating Vehicles) and has accommodation for 130 people in single cabins. The vessel will go straight into a charter contract for Technip. Source : Marinelink

De slimste haven wordt nu gemaakt SmartPort 2.0 verbindt bedrijven en wetenschap

De beste onderzoekers samen laten werken met de innovatiefste bedrijven uit de haven. Alleen zo kan de Rotterdamse haven de uitdagingen van de toekomst aan. Dat is wat het vernieuwde samenwerkingsverband SmartPort zich ten doel heeft gesteld. De vijf deelnemende partijen ondertekenden op 9 april hun samenwerkingsovereenkomst.

Investeren in kennis, dat is wat SmartPort gaat doen, vertelde SmartPort-directeur Michiel Jak in zijn oprichtingstoespraak. De bedrijven uit de Rotterdamse haven en de kennisinstituten Erasmus Universiteit Rotterdam en TU Delft bij elkaar brengen. Jak: ‘Niet om ze gezellig aan

tafel te zetten. Maar om de uitdagingen voor de toekomst waar het havenbedrijfsleven mee worstelt boven water te krijgen. Wetenschappers en bedrijven kunnen er dan mee aan de slag om er concrete oplossingen van te maken. Zo houden we Rotterdam als innovatiefste haven van de wereld scherp.’

Samenwerking In SmartPort werken Deltalinqs, het Havenbedrijf Rotterdam, de gemeente Rotterdam, TU Delft en Erasmus Universiteit Rotterdam samen. Voor de komende vijf jaar is de financiering voor de onderzoeken geregeld, ruim anderhalf miljoen per jaar heeft SmartPort tot haar beschikking. Daarbovenop bestaan mogelijkheden om aanvullende financiering te verkrijgen. Jak: ‘Denk aan co-financiering door bedrijven en onderzoeksinstituten, NWO, Topsectoren, de provincie. Waar het om gaat is dat we eerst de beste ideeën, de innovatiefste bedrijven en de beste onderzoekers samenbrengen. Als we daar een serie toonaangevende projecten van op de rails kunnen krijgen, dan ziet iedereen wat SmartPort aan de toekomst van de haven kan bijdragen.’

Uitdagingen Rotterdam staat voor grote uitdagingen, ziet Michiel Jak. Fossiele brandstoffen gaan de komende jaren plaats maken voor alternatieven. Wat betekent dat voor het energie- en chemiecluster in de haven? Jak: ‘Als we daar niet als de kippen bij zijn om goede antwoorden voor de toekomst te geven, verliest Rotterdam potentieel marktaandeel. Dat mag dus niet gebeuren.’

Een andere uitdaging voor de haven waar SmartPort een bijdrage aan wil leveren, is wat de onderzoekers al met een mooi woord Logistieke Connectiviteit hebben genoemd. Hoe beter, soepeler en sneller het vervoer van goederen vanuit de haven naar de eindbestemming verloopt, des te aantrekkelijker blijft Rotterdam als haven waar de goederen Europa binnenkomen. Nieuw te ontwikkelen IT-oplossingen die gebruik maken van big data, kunnen daar een belangrijke rol in spelen. Michiel Jak: ‘Om deze uitdagingen aan te gaan moeten we gebruik maken van de kracht van onze haven, de dynamiek van onze stad en de ambitie van de regio.’

Verbindende schakel

SmartPort 2.0 streeft naar een intensieve samenwerking met lopende initiatieven in zowel regionaal als internationaal verband. Het bouwt voort op de opgedane ervaring en zal het reeds aanwezige innovatie-ecosysteem in en rond de haven substantieel versterken. "Met de betrokkenheid van twee wereldwijd vooraanstaande universiteiten op het gebied van havengerelateerd onderzoek met excellente onderzoekers heeft SmartPort 2.0 een unieke kennispositie",



benadrukt Jak. SmartPort 2.0 moet zich ontwikkelen tot dé centrale organisatie en verbindende schakel tussen universiteiten en bedrijven die actief en langdurig investeren in kennisontwikkeling die voor de haven van belang is.

Diana takes a pay cut An existing charter on the 77,500-dwt bulk carrier ATALANDI (built 2014) is to be extended for 11 to 14 months.But the gross charter rate is only $7,000 a day for the first 30 days and $8,000 a day thereafter with both rates subject to a 5% commission payable to third parties.The Jiangnan built ice class panamax was previously fixed to Glencore for a similar period at $13,500 a day.The new deal amounts to a more than 40% reduction in the charter rate but appears in a better light against the current spot market panamax bulker rate of about $4,720 a day. The charter extension begins on 13 April.The ATALANDI deal follows an extended charter deal between Diana and Glencore Grain for the 73,630 dwt bulker Protefs (built 2004) announced earlier this week. The Protefs was hired at $6,250 a day minus a 5% commission paid to third parties for a minimum of 11 months and a maximum of 14 months. This was also a big reduction on the previous rate of $9,000 a day.Simeon Palios led Diana has ten panamaxes – half its fleet in this size category – fixed to Glencore at rates from $15,800 a day down to the rates set in this week’s deals..The company’s total fleet runs to 40 vessels including 12 capesizes. Source : Tradewinds

Above seen sitting alongside at St. John’s Newfoundland, are two of the original six of what were/are called the Husky boats There were a total of six of this class built in the early 1980’s and the two pictured are the MAERSK PLACENTIA and the MAERSK CHIGNECTO. They were originally built by Husky Bow Valley but subsequently sold to Maersk. Of the original six two were built in Canada while the other four were built in Korea. They were certainly some of the early “work horses” employed offshore Newfoundland and Labrador as well as off Nova Scotia in the 80’s and 90’s. I think that some of them have met their death in the scrap yard however these two are still active (or have been) in Newfoundland waters in recent times. At the time of building there were perceived as being high horsepower vessels (10,800 bhp) and were employed not only in servicing rigs working offshore Newfoundland but also were engaged in the towing of ice bergs.Compared to the higher horse power vessel employed today they are quite small but at the time there were impressive. Photo : Rob Strong ©

'K' Line sells six box ships Kawasaki Kisen Kaisha ('K' Line) has sold six container ships as it prepares to take delivery of 10 14,000 teu ships.

Japan's third-biggest shipping company told IHS Maritime that since the end of 2014 to March 2015, it has sold VICTORIA BRIDGE , VALENCIA BRIDGE, VIRGINIA BRIDGE, VERRAZANO BRIDGE, VINCENT THOMAS BRIDGE, and VANVOUVER BRIDGE. Each ship is of 4,738-teu and built in 2004-05. IHS Maritime's Sea-web.com data show VICTORIA BRIDGE , VALENCIA BRIDGE, and VIRGINIA BRIDGE were sold for USD15.6 million each to Alexander Saverys-owned Delphis and have been renamed to BUFFALO HUNTER, BEAR HUNTER, and BULL HUNTER.



The data also show VERRAZANO BRIDGE, VANCOUVER BRIDGE, and VINCENT THOMAS BRIDGE were sold to South Korean operator Sinokor Merchant Marine for USD15 million each and were renamed to SINO BRIDGE, BEIJING BRIDGE, and GRACE BRIDGE. A 'K' Line representative told IHS Maritime, "We will take delivery of five 14,000 teu vessels from Imabari Shipbuilding within this year and also another five 14,000 teu ships in 2018."

The VANCOUVER BRIDGE – Photo : Cees van der Kooij ©

'K' Line said in its medium-term management plan that it plans to reduce its fleet of container ships from 70 to 61 by the end of fiscal year 2019. However, its teu capacity will increase with the sale and scrapping of the smaller ships, and the introduction of the 10 14,000 teu ships. Eizo Murakami, who took over as 'K' Line's new CEO and president on 1 April, said the first half of the plan will focus on further strengthening the company's financial position based on improved earning power while the last half will be dedicated to growth into strategically expanding businesses based on financial soundness. Source : ihsmaritime360

FAIRMOUNT SUMMIT working nearby GSF DEVELOPMENT DRILLER I during several cargo and crew runs. GSF

DEVELOPMENT DRILLER I is located offshore Las Palmas. Photo courtesy of Crew FAIRMOUNT SUMMIT.



Liberia number one open register for Greek owners and operators

Figures released by the Greek Shipping Co-operation Committee (GSCC) show that Liberia has further strengthened its position as the undisputed leading open registry of choice for Greek shipowners and operators.The GSCC statistics show that, in the year to end-March 2015, the number of Greek-controlled ships in the Liberian Registry increased by a net total of 61 vessels, more than any other registry in the world. In the process, the Liberian Registry moved closer to the Greek flag, which recorded a net total of 20 new registrations in the twelve-month period. The GSCC figures show a total of 739 Greek-controlled ships, aggregating 54.03m dwt, registered with Liberia, compared to 678 vessels of 49.05m dwt at end-March 2014. Eighteen per cent of Greek-controlled ships are now registered under the Liberian flag. This is an increase on the corresponding figure for the previous year and positions Liberia second only to the Greek national flag in this respect.The GSCC findings provide the second independent verification in the past six months of the dominant role played in Greek shipping by the Liberian Registry. Figures produced recently by Marine Information Services (MIS) in Greece showed Liberia as the most popular and fastest growing flag for Greek owners and operators.

Scott Bergeron, CEO of the Liberian International Ship & Corporate Registry (LISCR), the US-based manager of the Liberian Registry, says, “The relationship between the Greek shipping community and the Liberian Registry is built on strong and long-standing foundations. It has grown stronger still during the worldwide economic downturn of recent years, during which shipowners and operators have looked to their ship registries for innovative solutions to help maintain efficiency and profitability.”Michalis Pantazopoulos, Senior Vice-President of the Liberian International Ship & Corporate Registry (Hellas) SA in Piraeus, says, “The latest figures from the GSCC are good news both for the Greek fleet and for the Liberian registry. Greece remains the undisputed number one shipping nation in the world. Almost 16 per cent of the world fleet in deadweight terms is now controlled by Greek interests, and the average age of that fleet is 2.5 years below the world average. The total amount of Greek-controlled ships in the world fleet is now at its highest level since 2008 / 2009, and the fact that Liberia has played such a leading role in this quality growth is testament to the mutual trust and respect which exists between the Greek shipowning community and the Liberian Registry.” The Liberian Registry is one of the world’s largest and most active shipping registers and has long been considered the world’s most technologically advanced maritime administration. It has a long-established track record of combining the highest standards of safety for vessels and crews with the highest levels of responsive service to owners.

Stolt-Nielsen Sees Consolidation as Speculators Squeezed Out

Stolt-Nielsen Ltd, the world’s largest chemical tanker company, expects a market consolidation as overcapacity will force speculators out of business. “There will be consolidations,” Chief Executive Officer Niels G. Stolt-Nielsen said in an interview in Oslo on Thursday. “If the price is right we will buy, merge, consolidate or form partnerships.” The chemical tanker shipping market is struggling as an oversupply and decreasing demand for chemicals from China puts

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pressure on rates. Average freight rates for the London-based company fell by 2.6% in the first quarter, according to its quarterly report.Stolt-Nielsen said the order book for new chemical tankers is about 30 percent of the existing fleet as hopes for increasing demand from U.S. shale gas has spurred shipbuilding in mainly China. He sees consolidation in the industry in the coming years. “The market is going to be very tough and it will happen,” he said. “But it will take a couple of years before most of the equity has gone.”Stolt-Nielsen expects “speculators who are not in the game for the long run” to be the first to exit the market.“There will be consolidation and acquisition opportunities in the secondary market,” he said “We will keep our balance sheet strong so that we can grab any opportunity that may arise.” Asset Play Stolt-Nielsen’s first quarter revenue was $488 million compared with $517 million a year ago. Stolt Tankers reported revenue of $278 million.While rates will continue to be low, Stolt-Nielsen, which transports chemicals for companies such as Dow Chemical Co., doesn’t plan to sell any ships.“Selling ships, because of our contract portfolio, isn’t really an option,” he said. “We don’t operate in asset play, we provide a logistical service.”Stolt-Nielsen sees growth in the company’s other businesses of tanker containers, terminals and liquid natural gas. He expects tank containers to grow, on average, 5 percent a year.“We will maintain our position in the chemical tanker market and grow our other businesses,” he said. Source : Bloomberg

Redcar museum housing world's oldest lifeboat sets sail on new era

Zetland Lifeboat Museum is now independent after sailing away from the RNLI : historic snuff mull is new exhibit

The dawn of a new era for Redcar’s Zetland Lifeboat Museum has been marked with a special exhibit.For the first time in three decades, the seafront museum - which includes a Redcar heritage centre - will now be run as an independent visitor attraction, rather than by the Royal National Lifeboat Institution (RNLI). And among the attractions for the 2015 season, which was

launched today , is a fascinating piece with Redcar lifeboat connections.The inscribed snuff mull, made from ram’s horn and silver plate, was recently discovered in Redcar’s Conservative Club.

But it has an intriguing past, having originally been presented to Redcar’s Zetland Club by Dr Alfred S. Robinson - a former curator of the museum in which it will now be displayed.Dr Robinson was curator in the early 1930s, as well as being chairman of the Redcar RNLI branch. Tragically, he was among 15 victims when the Zetland Club was bombed on October 21, 1941.But the fact one of his artefacts has now “come home” has been welcomed by the museum’s current chairman, Fred Brunskill. He said: “It was through his work that this place was opened as a museum. In many way, he was its saviour and we wouldn’t be here today if it hadn’t been for him.”

And Fred, who paid tribute to the RNLI for their support over the years, and for their help in smoothing the waters towards independence, said he was confident the new era would be successful.“We’re sure the museum is going to be sustainable for a number of years and that this season will be a good one, although we still need to raise funds through bric-a-brac stalls, raffles and other events. It means we can ring fence money we already have towards conservation of the boat.”The “boat” is the museum’s centrepiece, the Zetland - the world’s oldest surviving lifeboat. Built in 1802, it predates the RNLI by 22 years and has been afforded the same status as other historic vessels like the Mary Rose and HMS Victory.



But over recent years, the museum has also been expanded to showcase a fascinating display of Redcar-related memorabilia. Launching the 2015 season, museum patron Lord Zetland said: “We are on our own now, rather than under the umbrella of the RNLI. In some ways it’s very frightening but in others, it’s challenging and exciting.” The museum is open daily, 11am-4pm weekdays and 11am-5pm on Saturdays and Sundays, admission free. Volunteers wanting to join the museum crew are always welcome, call 01642 494311 or just drop in. source: gazettelive

BRITOIL 81 towing barge JMC 3012 departing Fremantle Photo : John Meade ©

Mexico is keeping a North Korean ship that ran aground near Mexico City

Mexico's foreign ministry said on Thursday it is only holding a North Korean ship that ran aground in its waters last year in order to comply with United Nations rules.The 6,700-tonne freighter MU DU BONG, which had come from Cuba, hit a reef near Tuxpan in Mexico's eastern Veracruz state in July last year.

North Korea's Deputy U.N. Ambassador on Wednesday accused Mexico of illegally detaining the ship and crew, warning it would take "necessary measures" to release the vessel. In a statement explaining why it had not yet released the vessel, Mexico's foreign ministry said authorities had originally fined the ship's owners for the environmental damage it caused. But before releasing the ship, the United Nations told Mexico there was evidence it belonged to blacklisted North Korean firm, Ocean Maritime Management Company. The foreign ministry said a UN delegation had visited the ship to investigate, adding that under the UN Charter it could not release the ship until the investigation was over. The foreign ministry also said the 33 crew members were enjoying "free transit" and had not been charged with anything, stressing that the detention of the ship was not motivated by differences between the two countries. Source : businessinsider (Editing by Ken Wills)

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Seen in Rotterdam area from Eurocarrier ‘NOVA K’ (incoming) near the Delta Hotel – Vlaardingen the outgoing tow of pontoon ‘STEMAT 89’ with tugboat Eurocarrier ‘FENNA B’. Destination wreck site Baltic Ace. Pontoon ‘STEMAT 89’ has been mobilized for cutting of the wreck, with assisting tugboat ‘Eerland 23’. Photo : Tom van Leeuwen ©

Argentina Says Plans Lawsuits Against UK Oil Firms Near Falklands

Argentina said it would begin legal action on Thursday against British energy firms operating near the Falkland Islands, in a growing war of words over the disputed South Atlantic territory. The move is the latest diplomatic spat between Britain and Argentina, who fought a short war over the Falklands in 1982, and has led to both countries summoning the other's ambassador for a dressing down.Last week, British firms Premier Oil Plc and Falkland Oil and Gas Ltd said they had made an oil and gas discovery at a well off the south Atlantic islands, the first in a nine-month drilling campaign.Argentina's President Cristina Fernandez called the announcement "almost provocative", and Argentine officials warned they were planning legal action against British energy firms exploring off the shores of the Falklands, which lie 300 miles off the Argentine coast and 8,000 miles from Britain.The two companies declined to comment about any legal action on Thursday.In a further development, Argentina has also demanded answers over media reports Britain had spied on Argentine military and political leaders from 2006 to 2011, based on intelligence documents provided by the U.S. whistle-blower Edward Snowden.After summoning Britain's ambassador over the alleged spying, Argentine Deputy Foreign Minister Eduardo Zuain told him legal action would begin against the British firms on Thursday.Argentina's Ministry of Foreign Affairs said in a statement: "A lawsuit will be presented today against companies carrying out petroleum exploration activities on the Argentine continental shelf."The discovery of oil has further raised tensions over control of the Atlantic archipelago more than 30 years after Argentine forces seized the islands and Britain sent a task force to retake them in a brief war which saw more than 600 Argentine and 255 British servicemen killed.Britain said on Thursday it had summoned the Argentine ambassador to explain the threat to prosecute British energy firms."The UK has no doubt about its sovereignty over the Falkland Islands and surrounding maritime areas, nor about the Falkland Islanders' right to decide their own future," a British Foreign Office spokesman said."We object strongly to recent statements by the Argentine President and the Argentine ambassador to London and so summoned the ambassador to account for these." Britain said last month it would reinforce its military presence on the Falklands to counter the "very live threat" posed by Argentina. However, Fernandez, in a speech honouring soldiers who died in the failed 1982 invasion of islands, which Argentina calls Las Malvinas, dismissed the idea of Argentina being a threat.Source : Reuters (Reporting by Michael Holden in London and Richard Lough in Buenos Aires; editing by Stephen Addison)

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The LAWIN ARROW in Rio Grande – Photo : Marcelo Vieira ©

MyFerryLink internal fight forces bosses to seek court protect

Struggling cross-Channel ferry operator MyFerryLink is now threatened by a split between the management and the supervisory board of the company that crews and operates its vessels. My FerryLink already faces being banned from the Port of Dover by the UK competition watchdog.

The BERLOIZ arriving in Calais Photo : Hans Reints ©

The two-man management board of SCOP SeaFrance, the co-operative company that operates the three MyFerryLink vessels on behalf of the owner, Eurotunnel, is seeking to have it put under court protection to try to stop its supervisory board firing them at a meeting on Monday.Chief executive Jean-Michel Giguet and his deputy, Raphael Doutrebente, are to ask a court in Boulogne-sur-Mer on 10 April to place SCOP SeaFrance under the control of court-appointed administrators.They claim that the supervisory board's plan to oust them is "suicidal" as it will automatically force SCOP SeaFrance and, by the same token, MyFerryLink to cease activity. The clash has come as SCOP SeaFrance waits for the UK Court of Appeal to rule on the Competition and Markets Authority ban on MyFerryLink’s use of the Port of Dover.The ban, which was upheld by the Competition Appeal Tribunal in January, was due to come into effect in July, but could be reversed by the appeal court ruling, which is expected some time after 15 April.Eurotunnel has already said that it wants to sell the former SeaFrance ships it currently operates under the MyFerryLink brand and has indicated that there are four potential bidders. MyFerryLink told IHS Maritime that 24 April had been set as the deadline for firm bids from interested parties.The SCOP SeaFrance supervisory board has already indicated that it will bid for the MyFerryLink vessels itself, but is believed to be seeking to convince local authorities in northern France to participate in the bid. SCOP SeaFrance was set up mainly by former SeaFrance employees who lost their jobs after the company went into liquidation in January 2012.Source: IHS Maritime- Ferries of Northern Europe

New Jersey firm setting up to raise sunken barge in Fort Pierce Inlet



The latest chapter in efforts to raise the sunken barge from the Fort Pierce Inlet played out Friday with the second recovery barge making its way to the wreck. The 250-foot salvage barge, COLUMBIA NY, and a 100-foot tug, MARY ALICE, from Donjon Marine in New Jersey arrived in Fort Pierce Thursday, said John Campbell, Army Corps of Engineers spokesman."They have spent the past 24 hours loading supplies and equipment onto the recovery barge,"

said Campbell at an 11 a.m. briefing. "We had hoped that at this point that the recovery barge would actually be out here in the inlet getting set up. However, conditions have delayed their departure."The Columbia NY salvage barge was near the Fisherman's Wharf area as of late Friday morning. A 110-foot barge sank Feb. 24. The barge took on water and sank. A Miami man died in the incident, but three others survived.The

first company tapped to raise the barge — Resolve Marine Group of Fort Lauderdale — tried to lift it in one piece, but a variety of issues complicated efforts and the Army Corps ended the Resolve contract. Campbell said the new plan is to chop the barge into sections.

Asked how long it would take to remove the wreckage, Campbell replied: "Optimistically, if everything were to go great, it might be as soon as this weekend. We're already delayed this morning, clearly that's pushing the time frame back. It may drag into next week." Campbell said the schedule will be driven by the weather, tidal conditions and current.About $1 million was spent with Resolve, and $700,000 to $800,000 is expected to be spent with Donjon, the Army Corps has said. Campbell said federal tax dollars are being used.

"The federal government will investigate and exercise every recovery opportunity available under law to recover the cost from the owner ... wherever the liability would rest," he said. "We'd like to recover every dime we've spent on this."Army Corps spokesman Mark Ray said in an email that officials don't believe the barge is causing any environmental harm."The biggest hazard posed by the barge is as a threat to navigation," Ray stated. "If the barge shifts due to weather/seas, it could damage the jetty that it lies near." Source : TCPalm

The SAM WOLF in Rio Grande – Photo : Marcelo Vieira ©

MSC axes new boxship’s maiden voyage as Asia-N Europe rates hit all-time low



As today’s Shanghai Containerized Freight Index (SCFI) for Shanghai-North Europe leg to an all-time low of $466 per teu, it appeared that MSC, as part of its 2M alliance with Maersk Line, has been obliged to cancel the maiden voyage of its 19,224 teu ultra large container vessel (ULCV), the MSC OLIVER. The 2M has announced that it is blanking two sailings from Asia to North Europe in week 16, the 8,750 teu Maersk Savannah, operating on the AE9/Condor service, and the MSC Oliver, which was stemmed for the respective AE2/Swan service.

But today’s SCFI entered new territory after a week that saw rates to North Europe nosedive another $45. They are now 60% below the same week of 2014, and a massive $790 less per teu than spot rates at the beginning of January this year. It is little over a week since the traditional bottle of champagne was broken against the bow of MSC’s latest ship, named after the grandson of the carrier’s founder, Gianluigi Aponte. The vessel was expected to join its sister (or brother) ship, MSC OSCAR, plying the Asia-North Europe trade.

The vessel sharing co-ordination hot line between Copenhagen and Geneva was no doubt in meltdown this past week as it became clear that the seriously worsening cargo and freight prospects required desperate measures and sacrifices from the 2M partners. However difficult the decision for MSC to temporarily idle its newest ULCV, the potential embarrassment is arguably less than it arriving in Antwerp on a sunny day in May with its deck depressingly half empty.

Anecdotal reports indicate that load factors between Asia and North Europe fell to as low as 70% in the last two weeks of March, which forced carriers to postpone their ambitious $800-1,000 per teu general rate increases scheduled for 1 April. Meanwhile, weak demand and additional capacity have meant container lines have been unable to stem the tide of week-on-week declining freight rates. Richard Ward, container derivatives broker at Freight Investor Services, said: “As a result of the most recent collapse carriers are now taking remedial action with ad-hoc sailing cancellations during the month of May. No doubt these will be combined with yet another GRI attempt for maximum effect at the expense of disruption to shippers.”

Indeed, from the first glance of the contingency arrangements announced by the 2M alliance, shippers that had reserved space on the Maersk Savannah and MSC Oliver will have to wait at least another week before their cargo arrives at North European ports, putting further stress on supply chains. Blanked voyages are not taken into account by the carrier schedule integrity surveys run by the likes of SeaIntel and Drewry, since they do not actually happen – yet the last minute pulling of advertised sailings is an added burden for shippers who already have to contend with tardy reliability levels.In addition to the 2M blanked sailings, The Loadstar has received notification that the G6 alliance will void the sailing of the year-old 13,208 teu OOCL KOREA which was stemmed to depart from Ningbo, China on 8 May. Source : The Loadstar

Petrobras sees cost of corruption at up to 6 billion reais - report

Brazil's state-run oil company Petrobras estimated losses connected to a vast corruption scheme are between 5 billion reais and 6 billion reais (1.1 billion-1.3 billion pounds), a report in Folha de S.Paulo newspaper said on Friday citing sources reviewing past contracts.The calculation is based upon the 3 percent of what Petrobras overpaid for contracts in a kickback scheme revealed in testimony from arrested executives linked to the scandal and is "conservative" according to unnamed sources in the report. Petroleo Brasileiro SA, as the company is formally known, was not immediately available for comment. In January Petrobras published unaudited third-quarter results in which it

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estimated net potential write downs of 61.4 billion reais. This estimate, which was mentioned in the release but not actually taken on the balance sheet, was based upon multiple factors including the falling oil price, delays and cost-overruns as well as corruption.Then-chief executive Maria das Graças Foster said at the time the company wanted to separate the loss of asset value caused by corruption from other factors such as the oil price. Morgan Stanley estimated Petrobras could take a write down of 29.4 billion reais for the graft scheme in a note published earlier this week. Petrobras is ensnared in a broad corruption scandal in which police and prosecutors assert the oil company overpaid for engineering contracts, with the extra money kicked back to politicians and executives. The investigation dubbed "Operation Car Wash" has led to the indictment of scores of executives from Brazil's top builders and implicated dozens of politicians, the majority of them from President Dilma Rousseff's Workers' Party, who allegedly received graft money. On Friday federal police said they had issued seven more arrest warrants in relation to the investigation.

Petrobras is under pressure to publish audited third and fourth quarter results before the end of the month to avoid risking further trouble with Brazil's market regulator CVM and the U.S. Securities and Exchange Commission as well as possibly jeopardizing loan terms known as covenants. Earlier this week Reuters reported the company could vote on April 17 to approve publishing the results, citing a board member. On Thursday Petrobras said in an email to Reuters it was working to release results as soon as possible but had still not fixed a date. Source : Reuters (Reporting by Stephen Eisenhammer Editing by W Simon)

The “SMIT LOMBOK” towed the “NIGER DELTA KING” to Cape Town from Walvis Bay with Table Mountain in the background just before port entry the NIGER DELTA KING was stricken by an engine room fire Photo top : Craig Sneddon Smit Lombok © Photo left : Aad Noorland ©



Task force on sunken Sewol-ho ferry says recovery is risky, but possible

A government-civilian task force that has been studying ways to salvage the sunken Sewol-ho ferry has concluded that recovery would be risky, but is technically possible. Following a four-month-long review, the team said Friday that simulated assessments have led it to conclude the vessel can be raised in its current sideways position. However, they went on to explain that the operation would have its risks, including the possibility that it couldn't be salvaged in one piece.The team plans to speak with the victims' families and experts before submitting its findings to the government. The recovery is estimated to cost at least 90 million U.S. dollars and the process is expected to take at least a year. Earlier this week, President Park Geun-hye said the government would look into salvaging the ferry, if and when it's found to be technical feasible. Source : arirang

"MONTE ACONCAGUA" IMO 9348077, built 2009, 69,132grt, managed by Columbus Shipmanagement gmbh, Germany, seen inbound for Port Everglades 22/1/15, she is assisted by the tugs "VICKI M McALLISTER" built 2001 4,650hp, and "TATE M

McALLISTER" built 2014, EMD main engines, 6,000hp, 80tons Bollard Pull. Both tugs Both tugs are owned by McAllister Towing and Transportation, New York. Photo’s : Iain Forsyth ©

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NEW SHIPS NAMED IN THE NETHERLANDS

Last week in Rotterdam the TESS was named by Tess van Laar for Van Laar Maritime and in Scheveningen Rederij

Groen named the 7 STARS. After the naming ceremonies both vessels were handed over from the builders to the resp. owners Photo’s TESS : Marcel Coster (c) Photo’s 7 STARS : Michael Taal (c)

The builder of the TESS, TRICO Shipyard and Van Laar Maritime donated 3000 Euro for the action TESS GOES

AMERICA Photo : Lourens Visser www.navcom.org ©

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Petronas LNG project surpasses 12 million man hours without incident

Petronas achieved another significant milestone in the development of its first floating LNG facility (PFLNG SATU) by achieving 12 million man hours without any lost time injury (LTI) since the project commenced in March 2012.To commemorate this achievement, a Health, Safety and Environment (HSE) Day was held at the Daewoo Shipbuilding & Marine Engineering (DSME) shipyard in Okpo, South Korea, on 7 April 2015, which also aimed to intensify the safety culture among individuals involved in the project. Petronas’ vice president & venture director of domestic LNG projects, Datuk Abdullah Karim said, “We would like to thank each and every person involved in the project for their perseverance and dedication to achieve this remarkable milestone.”

“Safety is an essential and integral aspect of our business which needs to be observed and implemented by all of us. This principle must continuously be upheld to ensure that PFLNG SATU becomes the world’s first floating LNG facility in operation”, he added. The PFLNG SATU will be moored in Kanowit gas field, located 180 kilometres offshore Sarawak, Malaysia and will produce 1.2 million tonnes of LNG per year. It will play a significant role in Petronas’ efforts to unlock the gas reserves in the country's remote and stranded fields, which had been deemed uneconomical to develop conventionally and to help meet the growing demand for gas. Present at the HSE day were Petronas’ vice president of Global LNG projects, Adnan Zainol Abidin; PFLNG SATU Project director, Hamzah Ahmad; Daewoo’s vice president of HSE operation, Mr HK Seo; and Technip’s chairman & senior vice-president of Malaysia & Brunei, Syed Feizal Syed Mohammad. Source : Bernama

NAVY NEWS

Fire-damaged Russian submarine to be repaired

The nuclear submarine ORYOL was not seriously damaged in a fire Tuesday at the Zvezdochka shipyard 620 miles north of Moscow, and will be ready for service again by the end of next year. According to preliminary inspections of the ORYOL, no important infrastructure was damaged in the fire on Tuesday, and the shipyard will have the vessel ready according to the original plan by the fourth quarter of 2016, a representative from the shipyard told Vedomosti. Any extra work caused by the fire, the shipyard will perform at its own expense, he added. A special commission has arrived in Severodvinsk to inspect the damages. Also The commander-in-chief of the Russian Navy, Viktor Chirkov, and the commander of the Northern Fleet, Rear Admiral Vladimir Korolev, arrived in Severodvinsk on Tuesday.More than 80 firefighters and 20 fire trucks were involved in the work to extinguish the fire, which occurred at around 2 p.m. Moscow time during hot works on the submarine, the Ministry of Emergency Situation’s website says.. The fire was not extinguished until after midnight Moscow time, after the dock with the submarine had been flooded. The vessels reactor had been shut down and the fuel had been unloaded before the repairs started. The submarine had no weapons onboard, Zvezdochka reports.




One of many accidents Tuesday’s accident was the latest in a series of accidents that have occurred at Zvezdochka and other ship repair yards in Northwest Russia during the last years.On December 29, 2011 a fire broke out on the nuclear-powered Delta IV-class submarine YEKATERINBURG while it was in a floating dock at the naval yard Roslyakovo just north of the town of Murmansk on the Kola Peninsula. According to the first official reports the fire only harmed the outer rubber coating of the submarine, and all the missiles had removed from the vessel before going in dock. Later Northern Fleet officials admitted that the submarine had both missiles and torpedoes on board. The YEKATERINBURG was re-launched in June 2014, after two years of repairs. In March 2014, during decommissioning work on the Oscar-II class nuclear submarine KRASNODAR at the Nerpa naval yard north of Murmansk, the rubber on the outer hull of the submarine caught fire. There were no radioactive leakages, and no one was hurt in the accident.Tuesday’s accident was the seventh at Zvezdochka in ten years, according to RIANovosti. The other accidents were:

February 19 2010: Fire during dismantling of the Akula-class nuclear submarine K-480 AK BARS. No casualties. Cause of fire: violation of fire safety during hot works. December 11 2009: Leak of two cubic meters of liquid radioactive waste from a broken pipeline. No casualties, no radioactive waste leaked into the environment. October 6 2009: Fire during dismantling of the Yankee-class nuclear submarine K-403 KAZAN. The fire occurred during use of gas-flame cutter. Workers evacuated, no casualties. March 25 2009: Fire during dismantling of the Yankee-class nuclear submarine K-411 ORENBURG. The rubber coating of the vessel caught fire during hot works. No casualties. July 26 2007: The main ballast tank of a nuclear submarine in dry dock was punctured as a result of excess air pressure. No casualties. August 1 2005: Two people died in a fire during dismantling of an Akula-class nuclear submarine. Cause of the fire was ignition of vapors of fuel and lubricants during hot works. This story was posted on Alaska Dispatch News as part of Eye on the Arctic, a collaborative partnership between public and private circumpolar media organizations. Source : Alaska Dispatch News

Theodore Roosevelt Carrier Strike Group Enters U.S. 5th Fleet

The Theodore Roosevelt Carrier Strike Group (TRCSG) arrived in the U.S. 5th Fleet area of operations (AOO) following a routine transit of the Suez Canal, April 6. While in the U.S. 5th Fleet AOO, TRCSG will provide a range of flexible and adaptable capabilities in order to conduct theater security cooperation efforts, maritime security operations and provide crisis response.

Commanded by Rear Adm. Andrew Lewis, TRCSG is composed of the flagship aircraft carrier USS THEODORE ROOSEVELT(CVN 71), Carrier Strike Group 12, Carrier Air Wing 1, Destroyer Squadron 2 staff, the guided-missile cruiser USS NORMANDY (CG 60) and the guided-missile destroyers USS WINSTON S. CHURSCHILL (DDG 81), USS FARRAGUT (DDG 90) and USS FORREST SHERMAN (DDG 98). "The mission of the carrier strike group includes all maritime missions, from maritime security operations, strike warfare, anti-submarine warfare and surface warfare," said Lewis. "These capabilities provided by the carrier, its air wing, the cruiser and destroyers within the strike group ensure the United States has the ability to support regional and coalition partners to meet operational requirements." TRCSG's presence in the region is part of a long-sta nding commitment to stability and the free flow of commerce in the region. The strike group will conduct a wide range of operations alongside regional and coalition partners aimed at building trust and cooperation while helping set conditions for regional stability. "Maintaining a presence, both a naval and air presence, continues the sixty plus year commitment of our nation to support security and stability in the region, which is key to a prosperous global economy," said Capt. Daniel C. Grieco, commanding officer, USS THEODORE ROOSEVELT. "We can accomplish this by working with our regional partners and allies in order to protect freedom of navigation."

U.S. Naval Forces Central Command (NAVCENT) is responsible for approximately 2.5 million square miles of area including the Arabian Gulf, Gulf of Oman, North Arabian Sea, Gulf of Aden and the Red Sea. NAVCENT's mission is to conduct maritime security operations, theater security cooperation efforts, and strengthen partner nation's maritime capabilities in order to promote security and stability in the U.S. 5th Fleet AOO. Source : US Navy

SHIPYARD NEWS Hiring of Jung as DSME head sparks merger

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STX Offshore & Shipbuilding chief executive Jung Sung-Leep has been hired as head of DSME at the prompting of the Korean Development Bank (KDB) — a major shareholder in both companies. The appointment is being viewed as forming a strong line of communication between KDB, DSME and the STX Shipbuilding Group, and creating speculation that it could eventually play a key role in resolving the financial problems at STX. Although Jung has worked at DSME and STX, he is regarded as a “KDB man”, as that is where he started his career.

One source said: “Jung is the best man for the company because of his close relationship with the bank. He is also familiar with the shipyard.”The move will also strengthen KDB’s position at the shipbuilder, with senior DSME executives said to be unhappy that an internal appointment was not being made. Acting president and chief executive Jae-ho Ko and DSME managers YY Ko and TH Park were tipped as internal candidates for the job but they have been overlooked.The appointment comes as DSME also embarks on a new internal structure intended to streamline the business and protect it from the market downturn. Jung began his career with KDB in the 1970s before moving onto DSME in 1981. He was with the shipbuilder for 31 years, in which time he managed the re-emergence of the company from a debt-rescheduling programme in 2001 after the company fell victim to the Asian economic crisis. That experience earned him the nickname “shipyard doctor” and “firefighter”, and encouraged KDB to draw him out of retirement in 2013 to attempt to sort out the problems at STX.His work there has been regarded as a success, with one source close to the situation saying: “Jung has successfully made changes at STX “He has reduced operational costs there and carried out some good marketing work.”KDB will be keen to see Jung achieve cost and efficiency gains at DSME in a difficult trading environment for Korean shipyards.But the market is now also viewing the appointment in terms of how it might resolve financial difficulties at STX. Some suggest KDB might have mapped out a bigger plan for Jung at DSME. They say the bank is planning a merger for the two yards as a way of boosting DSME’s earnings and financial status as well as finding a solution for STX’s troubles.KDB has long been attempting to sell off its stake in DSME without success. However boosting the DSME’s valuation could present a way out. Source : tradewinds

Brazilian SB industry in disarray over bribery scandal

Japanese yards fret about work suspensions at Brazilian yards

Shipbuilding projects in Brazil are sputtering under the ripple effects of a bribery scandal involving officials of the country's state-run oil corporation Petroleo Brasileiro S.A. (Petrobras). Petrobras-affiliated investment firm Sete Brasil, the main issuer of massive orders for drillships and other ocean structures, is currently in the state of defaulting on construction payments, making it difficult for Brazilian yards to continue with construction work. Given bloated losses at Brazilian yards, Japanese and other shipbuilders, who have equity stakes in Brazilian yards, are pushing ahead with work to set aside reserves for possible investment losses. The future prospect of the Brazilian shipbuilding sector is uncertain. In Brazil, the view seems to be gaining ground that "Petrobras may start moving around June when the oil corporation is rumored to come up with its investment plans." Should Brazilian yards remain offline until that time, the continuous shutdown would have a serious impact on the shipbuilding business as a whole. Using Brazil projects as leverage, Japanese companies have, to date, tried hard to foray into the offshore development market and expand the resource-related business in Brazil. But they currently face the urgent necessity to make difficult judgments.

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Confusion in the Brazilian shipbuilding industry stems largely from the corruption issue involving Petrobras. Since 2014, the flow of shady funds from Petrobras officials to influential politicians and others has developed into a major bribery scandal involving political and business circles. Investigation into questionable deals has brought to light the involvement of former senior officials of Sete Brasil as well. Sete Brasil is a company tasked with putting newbuilding orders for drillships and drilling rigs bound for Petrobras. The firm has thus far ordered 23 drillships and six semi-submersible rigs from five shipyards in Brazil. But, bank loans to Sete Brasil have come to a halt after the bribery scandal came to light, and its payments to yards were suspended in/after November 2014. As a result, Brazilian yards found it hard to continue operations, with some of them forced to scale back workforces in widespread disarray.

Atlantico Sul Shipyard (EAS), in which IHI Corp., Japan Marine United (JMU) and JGC Corp. have invested and for which they have since extended technical cooperation, suspended construction work for Sete Brasil-bound equipment. Following this, IHI, which had been entrusted by EAS to fabricate hull blocks of drillships at its Aichi Works, suspended the construction work. As part of technological cooperation, Japanese staffers were dispatched to EAS mostly from JMU. The technical cooperation continues to be supplied to EAS since the Brazilian yard is continuously engaged in construction of tankers for compatriot operator Petrobras Transporte S.A. (Transpetro) as planned. But, the state of management at EAS is getting worse due largely to a lack of large-lot construction workload.To deal with management woes on the part of EAS, IHI has decided to dispose of impairment loss in its investment in EAS and appropriate reserves for possible losses stemming from debt guarantees it provided to EAS. On an unconsolidated basis, IHI booked a Y9 billion extraordinary loss. JGC also disposed of its loss as of 2014, and JMU looks likely to dispose of its related loss in the year ended in March 2015.

Another shipbuilding project involving a consortium of Japanese firms is Rio Grande Shipyard, in which Mitsubishi Heavy Industries (MHI), Imabari Shipbuilding, Oshima Shipbuilding, Namura Shipbuilding and Mitsubishi Corp. have jointly invested. Some staffers have been sent to the Brazilian builder from MHI, but construction work has been suspended at the yard too. So, Namura booked a Y2.1 billion extra loss to dispose of its impairment loss.Enseada Industria Naval S.A., in which Kawasaki Heavy Industries (KHI) has an equity stake, is still engaged in construction of its dockyard. But the slowdown in its business operation makes it likely that the completion of the dockyard will be delayed from the initially scheduled April 2015 to late 2015 or afterward.The situation is the same at other shipyards that are operated/managed in Brazil by two Singaporean shipbuilders, who have received orders from Sete Brasil. Further, local construction firms, business partners for Japanese yards, are also being shaken by bribery and other scandals.

The Japanese public and private sectors have to date worked together to push ahead with Brazil projects. But the bribery scandal that had been brought to light before Japan's full-fledged advance into Brazil, took its toll on such efforts. To find a breakthrough to the situation, Japan's Ministry of Land, Infrastructure, Transport & Tourism (MLIT) in March sent its senior officials to Brazil. They visited Brazilian government ministries/agencies concerned and Petrobras as well as financial institutions, and sought early solutions such as the resumption of funding to Sete Brasil. But it seems solutions will not be found easily since Sete Brasil includes multiple financial institutions as its stakeholders that make it hard to iron out differences in their interests.

It is believed that Petrobras holds the key to remedying the situation. Petrobras is slow to release its business results as it needs to figure out the impact of the bribery scandal on its business performance. That is another factor behind the suspension of financing to Petrobras and its affiliates. Petrobras is planning to unveil its investment plans after the announcement of its business results. Based on the new investment plans, Petrobras appears likely to make clearer its drillship construction plans, thereby prompting financial institutions to resume funding to it. In Brazil, it is rumored that Petrobras will "release its business results in April and its investment plans in June," spawning expectations that things will start moving in June. Source : Kaiji Press via Justus Schoemaker Dutch - Japanese Maritime Desk K.K. / www.dujamdesk.com

Cochin Shipyard to get more Defence orders: Gadkari

The Union Defence Ministry has agreed to place orders with Cochin Shipyard Ltd to build defence ships in the next five years, according to Nitin Gadkari, the Union Shipping Minister. An assurance in this regard has been given by the Defence Minister Manohar Parrikar himself during discussions in Goa the other day, Gadkari said here on Friday.

Gadkari asked the public sector CSL to make use of the opportunities arising out of the Defence order and encourage auxiliary industries for getting spare parts. “This is the time for the yard to augment its production, as it in turn will lead to create more employment opportunities in the state”, he said. The Shipping Minister was here to deliver a

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specialised multi purpose ship Indira Point to Directorate General of Light Houses and Light Ships constructed by the yard. The ₹160 crore ship will be used for transportation and placement of buoys in deeps seas According to him, CSL will soon be placed with orders by Andaman and Nicobar administration to build building passenger ships and Shipping Corporation of India for constructing various vessels. Source : thehindubusinessline

The LAS PALMAS DE GRAN CANARIA arriving in Gibraltar for annual maintenance at Gibdock

Photo : Francis Ferro ©

ROUTE, PORTS & SERVICES

The Payout: Inside The New US$510m Port Concession Agreement

The Port Authority of Jamaica will receive an upfront payment of US$75 million equivalent to the value of the equipment at Kingston Container Terminal (KCT), which are to be handed over to the new concessionaire Kingston Freeport Terminal Limited for operation. The Port Authority will also be paid a fixed US$15 million per year on a quarterly basis as lease for the port facility, and a variable fee of eight per cent of gross revenues payable monthly, chairman and chief executive officer of the Port Authority, Professor Gordon Shirley told the Financial Gleaner. He said the upfront fee represents the market value of the assets at KCT.

Shirley said the concessionaire will acquire the equipment, and that the Jamaican government would reacquire whatever equipment is on the property when the concession is terminated. Kingston Freeport is the vehicle being used by the Terminal Link-CMA CGM consortium to operate the port under a deal with the Port Authority to finance, expand, operate and maintain KCT. The port is to be transferred back to Government at the end of the 30-year concession period.

"The government will also benefit from the payment of income and other related taxes," according to agreement signed at Jamaica House on Tuesday. The concessionaire was represented by President of Terminal Link and Executive Officer of CMA CGM, Farid Salem. Kingston Freeport Terminal will dredge the access channel to the Kingston Harbour

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and the basin of the KCT to allow for the handling of larger vessels, which will transit the Panama Canal after the latter's expansion. The port of Kingston was last estimated to be around the eighth busiest in the Caribbean but the expansion under the concession is expected to push it into the top five. Under the US$510 million (J$59 billion) agreement, transfer of operating control of the port will follow the financial close of the transaction, which is expected to be completed within six to eight months after the signing. As Prime Minister Portia Simpson Miller said in Parliament two weeks ago, the government will not provide a guarantee for the transaction. During the concession period, Port Authority will retain responsibility for maintenance dredging of the channel and for putting in place regulations and policies in support of the development of the Greater Port of Kingston and other ports across Jamaica.

Ranked 11th Worldwide

Terminal Link and CMA CGM, noting that the Drewry 2014 annual report of global container terminal operators ranked them together at 11th among the top 20 worldwide in 2013, said they expect to rise to seventh or eighth place in the rankings by 2017 on completion of new terminals under development as well as acquisitions and concession agreements, including KCT. Drewry is an independent research firm whose work focuses on the global maritime industry. CMA CGM, which had a presence in Jamaica before the latest agreement, said that with a total of 2,400 metres of wharf, an 80-hectare surface and 15.5-metre draught, KCT will increase its capacity from the existing 2.8 million TEUs or 20-foot equivalent container units to 3.6 million TEUs.The port will be equipped with 14 gantry cranes and 60 port riders, an extension that will turn Kingston into one of the Caribbean's five top ports, the shippers said. Further development of the KCT is expected to facilitate the passage of Post-Panamax container vessels with a nominal capacity of 12,600 TEUs in comparison to the existing Panamax vessels with a capacity of 4,500 TEUs currently transiting the Panama Canal.

The CMA CGM Group said the new terminal will offer a deeper draught where larger vessels will be accommodated and that the additional equipment will allow for the development of transshipment operations via secondary lines in the entire area.The terminal, where CMA CGM accounts for about 35 per cent to 40 per cent of market share, will be opened to all shipping lines benefitting from the same quality of services and treatment without discrimination, the group said."This investment is part of the CMA CGM Group global development plan" in the maritime sector, including acquisition of "new vessels more adapted to markets, as well as the creation of logistics platforms and the volume increase development in ports - for instance in the French Antilles," it added.

At the signing of the concession agreement, Minister of Transport Works and Housing, Dr Omar Davies, recalled that in the initial move to divest the port, CMA CGM had submitted an unsolicited bid and discussions had started. However, the Office of the Contractor General expressed concerns at the time and the process was suspended.Over time there were other expressions of interest and the decision was taken to change the approach and invite the participation of major global terminal operators, five of which responded to the invitation and three were pre-qualified. Terminal Link/CMA CGM was the only entity to respond to the bid, said Davies adding that "the irony of this is that we are where we were three years ago."

The Minister noted that a number of issues were raised in the press about the process and the need for information on the port's divestment, but said that while some of the concerns were legitimate, such sensitive negotiations cannot be conducted in the press."I sought to provide updates through Parliament about the various stages in the process but once a provisional preferred bidder had been identified then we had to allow the negotiations to proceed," Davies said.

The first phase of the Kingston Freeport concession agreement is expected to focus on improvements to the port's infrastructure over five years, at a cost of US$259 million. That project will include 1,200 metres of berth, reinforced to meet the standards of Eurocodes 2004, a set of harmonised technical rules developed by the European Committee for Standardisation for the structural design of construction works in the European Union; 800 cubic metres of dredging reinforced to a depth of 15.5 metres, with the ability to accommodate Panamax vessels, and the ability to accommodate 12,600 TEU vessels. Davies said questions have been asked about why the government was privatising KCT, widely considered to be one of Jamaica's prime assets.

First, he said, the concessionaire is a global terminal operator linked with a major container shipping line, which are leaders in their field. Terminal Link's portfolio currently consists of interest in 14 terminals and it has handled more than 12 million TEUs in 2014.Second, KCT will be developed into a multi-user port, and third the capital cost of dredging will be assumed by the concessionaire, freeing the government from that obligation, he said.According to the estimates of expenditure for fiscal year 2015/16, execution of the concession agreement with KCT is expected to result in significant changes in the operating and organisational structure.The Port Authority is worth about $58 billion by assets. KCT accounted for about $10 billion of its $20 billion revenue base at FY 2014. Source : Jamaica-Gleaner



Yemen Evacuation: India Rescues 5,600 People; Netizens Praise VK Singh, Army

India concluded its rescue operation in war-hit Yemen on Thursday by evacuating 5,600 people, which included 4,640 Indians and 960 nationals of 41 other countries."With the airlifting of over 630 persons from Sana'a by three special Air India flight, India concluded its evacuation by air... Indian Naval Ship INS Sumitra evacuated 349 persons, including 46 Indians and 303 foreign nationals from Al Hudaydah port on 9 April," the press release by the ministry of external affairs stated. External affairs minister Sushma Swaraj, in a tweet on Thursday, said the Indian Embassy in Yemen will now be closed as the massive evacuation efforts have concluded. Netizens have lauded the efforts of the Indian government, minister of state for external affairs VK Singh, and the Army in the evacuation operation. Even Prime Minister Narendra Modi took to Twitter to admire the efforts of his countrymen."A really admirable work of high standards accomplished by the joint efforts of MEA and the Armed Forces of India. Words would not be enough to appreciate your work. The nation remains in debt to you forever," Anurup Gaurav Mohanty commented on MEA's post on Facebook. "A big ROUND of applause to the INDIAN NAVY,INDIAN AIR FORCE ,INDIAN ARMY and all those who coordinated the plan," Raja Raja Anbu posted on MEA post on Facebook. "that's called decisive leadership.... hats off to MEA , Ms Sushma swaraj and Gen VK singh. we have showed the world the class of leaders and leadership we have in India," Sandeep Dass posted. Source : IBtimes

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The COSTA DELIZIOSA visited Cape Town photo : Ian Shiffman ©

Hong Kong's Orient Overseas Container Line expansion signals plan to stay relevant

OOCL spends US$951.6 million to buy six container ships to focus on organic growth; dents rumour of merger with NOL

By Jing Yang

The latest US$951.6 million fleet expansion by Orient Overseas Container Line underscores the Hong Kong shipping lines’ intention to stay relevant in the world’s most competitive trade lanes, with a strategy to focus on organic growth OOCL announced it had ordered six container ships with a capacity of 20,000 20-foot equivalent units

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(teu), the world’s biggest, ending year-long speculation in the maritime press that OOCL, a conservative player, would join the big ship owner club, lured by the economy of scale the vessels offer. Ships of similar size are generally 400 metres long, roughly the height of Hong Kong’s International Finance Centre Two tower. Their size means they can only be accepted by ports along the Asia-Europe trade lanes, the world’s busiest.“This order clearly illustrates that OOCL intends to remain relevant in the container shipping markets. They need to have the most efficient ships in order to compete effectively with other carriers,” said Tan Hua Joo, an analyst at Alphaliner, a container shipping consultancy OOCL, together with its partners in the operational alliance known as G6, must play catch up with rival alliances 2M, Ocean Three and CKYHE, all of whom have invested in vessels that are 18,000 teu or larger over the past two years. The trend was initiated by Danish Maersk Line’s US$3.8 billion splurge on 20 ships known as the “Triple-E” class. “Either they order these ships or they will need to seriously consider an exit from the market,” Tan said. OOCL spokesman Stanley Shen said: “We’d like to increase our exposure to Asia-Europe trade, ideally having equal shares in intra-Asia, transpacific and Asia-Europe sectors.” Last year, the Asia-Europe segment accounted for only 20 per cent of OOCL’s revenue. “We want to stay competitive, with a focus on organic growth,” Shen told the South China Morning Post, attempting to quash recent rumours that OOCL was mulling a takeover of Singapore’s Neptune Orient Lines, which has been struggling with liquidity woes and persistent losses.“The benefits of mergers and acquisitions have been overrated, while the pain of integration has been underrated,” said Shen. “We look at every opportunity that arises. So far the conclusion has always been – it’s not worth it. So we focus on organic growth.” The view is backed by Rahul Kapoor, director at Drewry Maritime Equity Research. “The ordering is sell-explanatory. Instead of buying NOL, which might be valued at US$1.5 billion or US$1.8 billion, the company would rather spend almost US$1 billion on new ships.”Still, with too many vessels chasing too few cargoes, the expansion risks dragging the overcapacity issue into 2017, said Andrew Lee, head of transportation research at Macquarie Securities. Source : South China Morning Post

…. PHOTO OF THE DAY …..

Lovely start of the day at Damen Shiprepair Amsterdam

Photo : Paul van de Craats ©



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