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Maersk Supply Service denies corruption allegations
Copenhagen: Maersk Supply Service has denied any connection to a corruption scandal in Brazil.A former director of Petrobras has claimed that over a number of years he received money from a Maersk agent in Brazil, Danish news publication DR reports.The publication reported that the former director at Petrobras, Paulo Roberto Costa, told police that for years he had disclosed confidential information for money to help Maersk Supply Service beat its competition.“Costa has admitted that he received money from giving confidential information to Maersk. Maersk has thus had a competitive advantage on Petrobras’ need to rent ships,” police commissioner Erika Mialik Marena said.Danish police is helping Brazilian authorities with the investigation.“I can confirm that we have established a good contact with Brazilian police on the matter. We are in a phase where the importance of close cooperation between the Brazilian and Danish police, and we have a close dialogue on what information needed to promote progress, “says Morten Niels Jakobsen, head of the Serious Fraud Office, to DR News. Maersk said it has investigated the matter, and stresses that it has not found evidence of any wrongdoing: Maersk Supply Service has worked for the Brazilian oil
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company for more than thirty years. Petrobras chartered ships four Maersk ships in 2014 for $300m. The Petrobras corruption scandal has been ongoing for months, involving billions of dollars, and has snared many high profile companies and people. Source: Splash 24/7
8 May 2015 was the first time that the Wawel ferry docked at the Westerplatte Ferry Terminal to be loaded the next day for its 18:00 cruise to Nynashamn.The change of location for the ships' calls was partially dictated by the decision of Polferries to sell the Scandinavia ferry which had been in operation so far and transfer the Wawe³ ferry from its current Swinoujscie - Ystad route to the Gdansk-Nynashamn route. The parameters of the new larger unit made it necessary to offer the shipowner another suitable call location at the Port of Gdansk. The Wawel ferry boat
is in fact almost 20 meters longer than the Scandinavia which had previously serviced this route. The new ferry differs from its predecessor in other parameters as well, including the load line which is twice as long and the number of passengers that can be carried. The Wawel ferry is designed to service 1,000 passengers at a time. The Westerplatte Ferry Terminal is far more modern than the existing ferry terminal, which was built in 2002. It offers areas designed to handle larger ships than the ferry base at the Ziolkowski Quay. Another definite advantage of the Westerplatte Ferry Terminal, especially for Ro-Ro customers travelling on the Gdansk-Nynashamn route loads, is its location just off Trasa Sucharskiego, which provides the smooth and relatively traffic-free feeder service of cargo to and from the terminal towards the south of Poland. In this way, cargo may be transported further by the suspension bridge towards the southern ring road with access to national route number 7 in the direction of Warsaw and the A1 motorway. In a few weeks a new tunnel under the Dead Vistula will be put into operation, offering an efficient feeder service towards the north of the region as well. Over the last few years the terminal was used mainly to handle passenger ships. Redirecting ferry traffic from the Ziolkowski Quay to the Westerplatte Ferry Terminal, however, will not affect the holiday traffic service. Passenger ships will continue to dock at Westerplatte, since Polferries will only operate in one of the three available parts of the quay, next to the passenger terminal building.Polferries would like to make it clear that the change only applies to the location of
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the ferry calls. For the time being, no changes in the frequency of service are planned, which currently stands at 3-4 times a week from Gdansk.source : Port of Gdansk
The ferries VULCAN DE TIJARAFE and VULCAN DEL TEIDE moored in Santa Cruz
Petrofac supports Bumi Armada with North Sea maintenance build
Armada Kraken, Bumi Armada’s floating, production, storage and offloading (FPSO), which is bound for the North Sea.The oil and gas facilities services provider, which has its Scottish base in Aberdeen, will perform the services through its performance management consulting business, Plant Asset Management. It was selected due to its long track record of delivering MMS services for FPSO projects. The contract will see the group working on the Armada Kraken FPSO which has been converted from a Suezmax ice class tanker and will be deployed in the East Shetland basin.The work includes the development of an integrated risk-based maintenance programme, associated repair and replacement strategies, and spares holdings. Plant Asset Management will also apply its systematic methodology to rationalise spares holdings, with the aim of ensuring effective cost controls when owning, stocking and maintaining equipment spares.Plane Asset Management’s proprietary asset management programme development platform, BuildMETM, will support the project. This will provide a controlled environment in which to develop the asset hierarchy, asset maintenance, conduct criticality assessment and spares analysis, and build bills of materials.Business Manager (Europe) of Plant Asset Management, John Morrison, said: “We are delighted to have secured this work, which will be executed and delivered by adopting a close partnership agreement with our client that optimises the combined skills of Plant Asset Management and Bumi Armada personnel in Kuala Lumpur to provide a high quality, cost effective solution. “We look forward to the successful delivery of this project and believe that this will establish a great basis for a long term ongoing relationship with Bumi Armada.” Source: aberdeenbusinessnews
Turkish shipmanager selects Seagull Turkish shipping company Zenith Gemi Isletmeciligi has chosen Seagull Maritime CBT Training for use fleet-wide across its tankers, and the Seagull Crew Evaluation System for its main office in Istanbul. The Seagull Computer
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Based Training (CBT) library features a portfolio of maritime-related training titles with built-in assessment, data recording and reporting capabilities. It can be delivered either offline, as a suite to be installed on a stand-alone PC or network on board, or online. The Crew Evaluation System (CES) is an online computer-based knowledge evaluation tool that consists of a large database of several thousand questions, which can be used to assess the background knowledge of crew members, engaged in deck, engine and general services activities. CES can also be customised to meet a company’s specific requirements for recruiting and evaluation.Zenith Gemi Isletmeciligi was incorporated in Istanbul in May 2013 as an affiliate of the Scorpio Group and provides shipmanagement services to Scorpio and also to third party owners. At present, Zenith’s fleet is composed of medium size tankers, including a number of new buildings delivered to Scorpio Tankers between 2013 - 2015. The fleet has rapidly expanded in 2014 and 2015 and now stands at more than 15 vessels with an average age of less than two years. Source: TankerOperator
Nieuw offshore-evenement in Den Helder op 4 juni 2015
Tijdens de eerste editie van het jaarlijks terugkerende evenement North Sea Offshore, op 4 juni, staat Den Helder even als ‘offshorehoofdstad’ van Nederland centraal. Gedurende het (inter)nationale evenement kunnen deelnemers zich oriënteren op de kansen en uitdagingen in deze sector en kennismaken met de offshore-industrie uit de regio. Den Helder is de logistieke offshore HUB voor de exploitatie en het beheer van olie- en gasinstallaties in de zuidelijke Noordzee. “De offshore-industrie is samen met de Koninklijke Marine de belangrijkste motor van de economie van Den Helder en Noord-Holland Noord. Met dit eerste evenement willen we ervoor zorgen dat Den Helder stevig op de kaart komt als hét logistieke middelpunt van de offshore-industrie in de zuidelijke Noordzee-regio. Ik ben trots op alle kennis en ontwikkelingen van deze veelbelovende industrie in onze stad”, aldus Piet-Hein Kolff van Port of Den Helder, een van de initiatiefnemers van North Sea Offshore. Het programma In de ochtend van 4 juni openen diverse bedrijven uit de Kop van Noord-Holland hun deuren voor deelnemers aan het evenement. Tijdens het middagprogramma in Den Helder komen verschillende sprekers aan bod uit de top van de offshore-industrie, waaronder Ante Frens, asset manager Offshore bij de Nederlandse Aardolie Maatschappij en Eric Wesselman, management consultant olie en gas bij KPMG. Toponderneemster Annemarie van Gaal vat de middag samen en sluit het evenement af. Initiatiefnemers Het offshore-evenement vindt plaats in de Dukdalf, op de voormalige Rijkswerf Willemsoord. North Sea Offshore is op initiatief van Ontwikkelingsbedrijf Noord-Holland Noord (NHN), Port of Den Helder, Den Helder Airport, en Haven- en scheepvaartvereniging Den Helder (HSV) georganiseerd. Website www.northseaoffshore.nl
After the expiry of its contract with Toll Logistics that saw tug-and-barge combination TOLL OSBORNE/TOLL HOBART load air warfare destroyer modules in Newcastle and Melbourne for shipment to Port Adelaide, the group building same appointed DB Schenker to manage the last shipment of one plus two units. Pacific Tug's PT KYTHIRA, idle in Melbourne since bringing in hopper barge for the Webb Dock redevelopment, sailed to Sydney where it collected barge A.M.S. GLADSTONE and then proceeded to Newcastle (arriving 30/4) where thebarge was stripped of superfluous deck gear with the intention that thebarge would be taken upriver to Forgacs at Tomago where one module would be loaded. The barge would then return downriver for the module to be loaded by the heavylift/mpp BBC NILE, which had arrived off port 29/4. The somewhat clumsy plan was that tug and barge would then follow the ship to Melbourne where the load-out procedure would be repeated and BBC NILE would then sail to Port
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Adelaide with three modules.However, recent flooding in the Newcastle environs has caused the Hunter River to silt up and the barge could not reach Tomago. Consequently plan A was abandoned and BBC NILE sailed for Melbourne without its module; severe weather conditions down the East Coast and in Bass Strait caused cancellation of the PT KYTHIRA/A.M.S. GLADSTONE voyage and instead the TOLL combination was taken out of lay-up at Geelong to load the two BAE-manufactured modules at Williamstown. Again, weather conditions forbade any transfer at anchor and instead BBC NILE berthed at 24 Victoria Dock in the early hours of 15 May. Shortly after daylight TOLL OSBORNE/TOLL HOBART, assisted by Korevaar's VITAL, came upriver and berthed alongside BBC NILE where the modules were successfully loaded during the day.
Tugboat crew missing KOTABARU, South Kalimantan: A tugboat Social Blory crew, Toto Hariadi (56), lost in the dock PT Sebuku Iron Ores Lateritic while diving to unlace ship caught in the propeller, Antaranews reported. Human Resources Development/General Affair (HRD/GA) PT Silo, IDK Dharmaja, through mobile phones in Kotabaru, said on Monday that according to information in the field Toto dive assisted by manual respiratory compressor to remove the rope stuck.“After so long, Toto did not go up and his friends immediately conduct a search at the dive sites,” he said. Even when a search was performed using a fishing net, but the results were nil Toto still not found. Finally the incident was
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reported to the Kotabaru National SAR Agency and other relevant agencies to ask for help looking for Toto. Pos SAR rescuer Kotabaru, M Imam Nazarudin in Kotabaru, revealed that the company’s team of seven personnel deployed divers equipped with modern diving apparatus.“We deployed some divers complete with equipment for diving search for victim Toto,” he explained.The National Unity and Community Protection Agency (Kesbanglinmas) Head Adi Sutomo also deployed some personnel to assist in the search for Toto at Pier PT Silo on the island of Sebuku. Source: theborneopost.
Petrobras closes $5 billion funding deal with China Development Bank By Jonathan Bell Editor in Chief 22 May 2015 Add comment Share via Photo: Petrobras Brazilian state-run oil company Petroleo Brasileiro (Petrobras ) has signed and closed a $5 billion funding agreement with China Development Bank (CDB). The deal encompasses funding of $3.5 billion already disbursed, announced in early April, and also an additional disbursement of $1.5 billion, totaling $5 billion (TXF News 2 April 2015). The agreement was signed by Petrobras CEO Aldemir Bendine and CDB chairman Hu Huaibang at a ceremony in Brasília. The Brazilian oil company says in a statement that the deal furthers the strategic partnership between CDB and Petrobras, strengthening cooperation between the two countries’ economies. The deal is a culmination of events surrounding the Petrobras corruption scandal and subsequent law cases, which have damaged the company’s rating and ability to borrow from traditional channels and the international commercial bank market. In April this year, Petrobras signed financing agreements with several local banks as well as Standard Chartered amounting to $6.1 billion (TXF News 17 April 2015). In the first instance, Petrobras signed a BRL4.5 billion ($1.48 billion) export note with Banco do Brasil through its subsidiary BR Distribuidora for a six-year period. In the second transaction, Petrobras signed a BRL2 billion ($658 million) standby loan with Caixa Econômica Federal. The loan has a five-year tenor. In the third transaction, the oil company signed a BRL3 billion ($986 million) standby loan with Bradesco . This has a five-year tenor. And in the fourth transaction, Petrobras has entered into what it termed a “cooperation agreement” with Standard Chartered for the sale and leaseback of production platforms totalling up to $3 billion. This agreement has a 10-year term. Source : txfnews
Despite protests, some workers thrilled by Shell oil rig in Seattle
Shell's giant oil rig parked at the Port of Seattle has outraged plenty of people, but at least one group is very glad the rig pulled in.When the Polar Pioneer made her way into Elliott Bay, she did so with the help of tug boats. They are operated by what will add up to as many as 150 tug boat workers who could otherwise be sitting home waiting on work."It's huge for the local economy," said Gail McCormick with the Inlandboatmen's Union of the Pacific. The entire local Shell project will employ an estimated 415 people across the region, including workers in Port Angeles. "Not only does it help the Seattle economy for them to be here, it helps the whole state's economy because my guys live all over the state," McCormick said. It was a dramatic contrast last weekend. Protestors on the water showed their anger against Arctic drilling and Shell's presence in Seattle. The plethora of kayaks juxtaposed with the dozens of
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longshoremen working on board was striking. The outcry has been so strong that the Port of Seattle asked Secretary of State John Kerry to avoid Seattle for a speech Tuesday because the Port's hands were full. McCormick said those working around or above the protests aren't bothered by the added attention."It may be a little bit of a nuisance, but I don't think that any of the guys let it bother them at all," he said. He added that is if Shell listens and does pull out, "a lot of them would be laid off." Source: komonews
Indonesia’s many ports need frequent dredging. However, Southeast Asia's biggest economy faces challenges on this front. Speaking at the Dredging & Land Reclamation Asia Summit in Singapore on 20 May, Indonesian port operator
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Pelindo IV director Kemal Heryandri said their main issue is the shortage of dredgers, especially trailer suction hopper dredgers (TSHD)."The unit price of the government's dredging budget is lower than that of privately funded projects," said Kemal. As a result, local dredging contractors would rather seek out projects outside of Indonesia. There are no shipyards in the country that build TSHDs.Kemal said, "There are initiatives from the private sector to finance and manage the access channel but still the government regulations about this are not clear."Indonesia has more than 2,000 ports and a 94,000 km long coastline. High amounts of alluvium and siltation require regular maintenance dredging.Indonesian authorities estimate that 20 million m³ of materials would need to be dredged every year. Source: ihsmaritime360
Holland America Line Names Captain Emiel de Vries Master of New ms Koningsdam
When Holland America Line’s ms KONINGSDAM sets sail in April 2016, Captain Emiel de Vries will be in command. Having been with the company since 1997, de Vries rose through the ranks from fourth officer to captain and has been master of ms Amsterdam, ms Eurodam, ms Nieuw Amsterdam, ms Rotterdam and ms Zuiderdam. De Vries currently lives near Venice, Italy, to be close to the Fincantieri shipyard where ms Koningsdam is being built. He has been involved with the newbuild project since 2014 and participated in the functional design of the navigation bridge — his “office” when he is onboard “With his knowledge, experience and dedication, Captain de Vries is the perfect choice to be at the helm when we introduce Koningsdam to the world,” said Orlando Ashford, president of Holland America Line. “Captain de Vries’ leadership and graciousness with both guests and crew will contribute greatly to the success of our new ship.” Hailing from the Netherlands, de Vries grew up just east of Amsterdam. He graduated from the Hogere Zeevaart School in Amsterdam, one of the oldest nautical schools in the world, with degrees in navigation and engineering. De Vries was introduced to Holland America Line in 1995 when he interned as a cadet on the former ms Noordam, and since joining the company, he has sailed on every class of Holland America Line’s ships. “It is an honor to be named the first captain of the new KONINGSDAM, and I know bringing out the ship will be one of the highlights of
my career,” said de Vries. “Being at the shipyard has enabled me to gain detailed insight into many areas of the ship, and I look forward to welcoming the first guests on board during the inaugural season.” When not in Italy at the shipyard, de Vries lives in Barrie, Ontario, Canada, with his wife, Susan, and their daughter.
The CSCL ARCTIC OCEAN outbound from Rotterdam-Europoort –
Seaspan Marine announces new president Seaspan announced that Bart Reynolds has joined Seaspan Marine as President.
Bart will provide vision, leadership and direction for Seaspan’s Marine Division and assumes ultimate accountability for the short and long term profitability of the marine business. A significant part of his role will involve developing strategies and providing leadership around building exceptional customer relations, as well as creating longstanding positive employee and union relationships. In addition, Bart will promote and strengthen Seaspan Marine’s external
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reputation through high-level, industry-wide representation and marine community involvement. “Today is an exciting day for Seaspan and the future of its Marine Division,” said Jonathan Whitworth, CEO, Seaspan. “We performed an exhaustive search across North America to find a leader with Bart’s world-class experience and track record of success, and I am thrilled to welcome him to the Seaspan family.” Bart joins Seaspan with over 20 years experience in positions of leadership and senior management. The last 15 years have consisted of positions in the offshore supply boat business in the United States, West Africa, the Mediterranean and Latin America. He most recently served as Vice President, Americas at GulfMark Offshore Inc. – a company which operates 72 offshore vessels in various markets around the world. Prior to that, he worked at Tidewater Marine LLC as Area Manager, US Operations – a company that owns and operates the world’s largest fleet of offshore supply vessels.Bart is a graduate from the University of Texas at Austin’s Masters of Business Administration (MBA) Program. He also holds a Bachelor of Business Administration (BBA) and a Bachelor of Arts (BA) from the University of New Mexico. Source : ottawacitizen
Port Nelson likely to buy a new tug within 18 months
Port Nelson is looking at replacing its bigger tug, the Huria Matenga, for up to $12 million but will keep the smaller and older W H Parr in service. Chief executive Martin Byrne said the Huria Matenga was due for replacement "probably in the next year or two" and this had been incorporated in the port company's capital expenditure plan. All options were being looked at, he said, but many of the secondhand tugs on the market were old and might not meet the port's requirements. The replacement tug would be sought with the larger ships using the port in mind, Byrne said, but he did not expect much change to ship sizes in future because of the restrictions imposed by the port's draught. Depending on its bollard pull - the ability to shift ships - and other features, a new tug might cost "anywhere between $8 million and $12 million", Byrne said. Lead-in time for a new vessel was about 16 months from when an order was placed, he said. The Nelson Harbour Board, the port company's predecessor, brought the $3.139 million Huria Matenga from Japan in 1983, purchasing it when it was four months old. The board had a budget cap of $2.8m and was only able to buy the tug with a no-tags donation of $339,000 from Nelson Pine Forest, which wanted to bring bigger wood chip carriers into Port Nelson.The W H Parr was built in Dunedin and has been in service at Port Nelson since 1972. In 2004, it had a $1.7m refit in which it got new engines and thrusters, increasing its bollard pull from 16 tonnes to 23 tonnes. At that time, harbourmaster Dave Duncan said the smaller tug, named for long-serving Nelson Harbour Board managing secretary and later board member Bill Parr, did 60 to 65 per cent of the tug work at Port Nelson. "She's a very versatile tug, the right size for fishing vessels, and is able to be used in shallower parts of the port," he said. The W H Parr is known for having a particularly sound hull after such a long working life. The Huria Matenga has a 33-tonne bollard pull. If the company does opt for a new tug, the purchase will be one of its biggest ever items of capital expenditure. Source: Stuff
Core activities at Eerland Shiprepair are mainly: - Restoration activities, employing our self propelled craneship Marine Service 1, lifting 35 metric tons up to a reach of 45 m. - Ship repair; domestic and abroad. - Under water activities, employing our mobile docks. - Qualified welding jobs for steel, aluminium, stainless steel and duplex. - Overhauling of winches of all brands; - Repair of gangways, quays, pontoons, etc. - You can find more about our projects at our website. IJzerwerkerkade 41, 3077 MC Rotterdam, Harbour no. 1095 Tel. +31 (0) 10-483 48 88; Fax +31 (0) 10-482 23 25 [email protected] www.eerlandshiprepair.nl
Shipping freight rates drop on overcapacity Shipping freight rates on the world's busiest route, from Asia to northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility in the market as vessel operators continue to wrestle with overcapacity. Rates for transporting containers from Asia to Northern Europe plunged 32.5 per cent to US$444 per 20-foot container (teu) in the week ended yesterday, a source with access to data from the Shanghai Containerised Freight Index said. Shipping consultants Drewry reckon the Shanghai-Rotterdam and Shanghai-Genoa routes are the two most volatile among 11 that they track, with rates rising US$1,000 or more per teu over just a few weeks and then falling back down again. "The drop in freight rates is witness to the brutal price competition and there is a need for far more cuts in capacity," analyst Jacob Pedersen from Sydbank said. Shipping companies such as Maersk have said they wanted to increase rates dramatically on the spot market.Sometimes they succeed in applying such high freight rates and the index rises as it did by 150 per cent in May. Global leader Maersk Line said it intended to increase spot rates by US$800 per teu from June 1 and the world's third-largest shipping group, France's CMA CGM, said that it wanted to boost rates by US$1,000 from June. But more often than not, these shipping giants are forced to accept far lower rates due to overcapacity - too many ships, not enough goods."The volatility of global spot freight rates since the start of 2015 has continued to increase in comparison to 2014," Drewry wrote in a note.In the week to yesterday, container freight rates dropped 25.1 per cent from Asia to ports in the Mediterranean. In addition, they fell 7.0 per cent to ports on the West Coast of the United States and were up 2.3 per cent to ports on the East Coast of the United States.AP Moller-Maersk chief executive Nils Smedegaard Andersen said last week that Maersk Line would only sign long-term freight contracts if they were considered profitable. Otherwise, Maersk Line preferred to be exposed to the spot market. Source: Reuters / South China Morning Post
Norwegian oil drillers call in mediator after wage talks fail
Wage talks involving thousands of Norwegian offshore oil workers broke down late on Thursday, unions and employers said, raising the risk of a strike that could disrupt oil exploration and efforts to raise output from existing fields.The talks between the Norwegian Shipowners' Association (NSA) and three labour unions affecting more than 9,000 workers will now move to arbitration led by a state-appointed mediator. The dispute could end in a strike if those negotiations fail. Industrial action would be unlikely to affect the production of oil and gas in the short term, but could have an impact in the medium to long term as expansion projects and the start-up of new oil fields would be delayed.Companies that could be directly or indirectly affected include Statoil, Transocean , Seadrill , A.P. Moeller-Maersk and Fred. Olsen . Owners of drilling rigs, facing a sharp drop in demand as weak crude prices prompted oil
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companies to cut investment, argued that wages should remain unchanged for the next year, while unions demanded a rise in line with other sectors. They have not publicly disclosed a figure but other major Norwegian unions have secured 2.7 percent wage increases on average for their members this year The Safe, Industri Energi and DSO unions, representing workers on mobile offshore units and platform drilling on permanent installations on the Norwegian shelf, said the rig owners, represented by the NSA, had not offered anything substantial."The Norwegian Shipowners' Association didn't have a dime to offer our members," Safe chief Hilde-Marit Rysst, said in a statement.The parties have now asked for the settlement to be brought before the state mediator.The sharp drop in oil prices in the past year has been a blow to Norway's massive offshore oil and gas industry, which produces about 20 percent of the country's overall gross domestic product."At this stage there are no immediate signs of market improvements and the customers are pushing for cost reductions," the NSA's chief negotiator Jakob Korsgaard said in a statement.While global oil prices have rebounded more than 40 percent from six-year lows in January, they remain at little more than half of their June 2014 peak."The industry needs to prolong the current agreement until the main settlement in 2016," said Korsgaard, who is also managing director of Maersk Drilling in Norway, a unit of A.P. Moeller-Maersk.No dates have been set for the state mediation, but the Industri Energi union said it expected the negotiations would take place "relatively quickly". Source: reuters (Reporting by Stine Jacobsen; Editing by Terje Solsvik and Susan Fenton)
The ADVANTAGE (ex EDT NEFELI) – stopped in Gibraltar for bunkers and is at present at Ocean Village Marina.
Low oil prices and high refinery margins boost product tankers during first quarter of
2015, as ship owners rejoyce During the first quarter of 2015, the product tanker market benefitted from a combination of lower oil prices and higher refinery margins, which led to both a higher end-consumer demand and a supplier-driven increase of
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transportation of refined products. This according to shipowner TORM, which managed one of its best quarters in recent years. In the West, the freight rates maintained the positive momentum from the end of 2014. The MR market benefitted from a combination of increasing US consumer demand for gasoline and diesel and higher refinery margins that made the North American refineries increase their output of refined oil products. In addition, US refinery strikes and delays at the Panama Canal increased the demand for especially MR tonnage. Torm added that “the LR market was positively impacted by the open arbitrage of naphtha from the West to the East as well as higher-than-usual imports of gasoline and diesel into West Africa. In the East, the LR freight rates were positively impacted by strong gasoil exports from North East Asia to West Africa yielding a high ton-mile effect. In addition, new refineries in Saudi Arabia and the United Arab Emirates generated considerable transportation of especially naphtha, diesel and jet fuel to Europe and Asia. The MR freight rates in the Middle East benefitted from regional distribution of refined products from e.g. the Yasref refinery in Saudi Arabia”. Meanwhile, supply-wise, the global product tanker fleet (above 25,000 dwt) grew by 1.5%, during the first quarter of the year. TORM noted that the company’s tanker division achieved LR2 spot rates of USD/day 25,055 in the first quarter of 2015, which was 102% higher than in the same period last year. The LR1 spot rates were at USD/day 28,935, up by 86% year-on-year, and the spot rates in TORM’s largest segment, MR, were at USD/day 25,275, which is an increase of 66% year-onyear. The Handysize spot rates were at USD/day 20,098, which was up by 29% year-on-year. The Tanker Division’s gross profit for the first quarter of 2015 was USD 63m (USD 32m)”.
Similarly, another tanker owner, Teekay Tankers noted that it experienced its strongest quarter in six years. “The Company experienced the strongest quarter in six years with free cash flow of $53 million, or $0.46 per share, resulting in an annualized free cash flow yield of 32 percent based on the average share price during the first quarter,” commented Kevin Mackay, Chief Executive Officer of Teekay Tankers. “Over the past four months, crude spot tanker rates have achieved the highest average levels since the strong winter market of 2008,” Mr. Mackay continued. “The continued strength in the tanker market reflects the strong tanker market fundamentals on the back of a shrinking mid-size tanker fleet, increased crude oil trade volumes and growing global oil demand. Low global oil prices, high crude oil supply, and seasonal factors such as increased oil demand and winter weather delays, have provided further support to the crude tanker market during the first quarter. Crude spot tanker rates have remained counter-seasonally strong into the second quarter of 2015 due to record-high Saudi Arabian oil production and a relatively light refinery maintenance schedule as refiners continue to take advantage of positive margins.” Teekay said that “LR2 product tanker rates in the first quarter of 2015 averaged the highest for a first quarter since 2006. LR2 product tanker rates have been supported by the ramp up of new refineries in the Middle East, which has encouraged long-haul product exports, while Asian naphtha imports remain historically strong. Low oil prices continue to put downward pressure on naphtha prices in relation to liquefied petroleum gas (LPG), which has led some petrochemical plants to consume naphtha rather than LPG for feedstock purposes”.It added that “the global tanker fleet grew by 3.3 million deadweight tonnes (mdwt), or 0.7 percent, in the first quarter of 2015. The global Suezmax fleet grew by four vessels, or 0.8 percent, while the uncoated Aframax fleet grew by only one vessel, or 0.2 percent, and the LR2 fleet grew by 0.8 mdwt, or 2.8 percent. Looking ahead, the global tanker fleet is forecast to grow 1.5 to 2.5 percent in 2015, with growth again weighted towards the product tanker sectors. Another year of negative fleet growth is expected for the Suezmax and uncoated Aframax sectors in 2015″.Teekay concluded that “the outlook for crude tanker fleet utilization and spot tanker rates is expected to remain positive in 2015 based on a shrinking mid-size crude tanker fleet and a continued increase in long-haul tanker demand as more crude oil moves from the Atlantic to Pacific basin. The impact of low oil prices is also expected to provide support for tanker demand in the first half of 2015″. Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
Capesize rates dip as market readjusts If last week you were getting excited about what last week looked to be an uptick in the capesize dry cargo market: calm down. It’s not time yet.The Baltic Cape Index (BCI) peaked at 972 points on May 14, before falling away to reach 844 points today. The index today shows a 45-point decline on yesterday’s level.That being said, the BCI’s monthly average has shown consistent improvement over the past three months or so. For the month of March, the BCI averaged 438 points, which grew to an average of 507 points in April and 771 points in May so far. “We are in a difficult market, perhaps one of the most difficult in the past 30 years. While rates are still low, we have seen them improve about 20% in the past three months,” Angeliki Frangou, chairman and CEO of Navios Maritime, noted today in the company’s first-quarter results for 2015. Both spot and period rates have been impacted by the number of ballasters reentering the market over the past week or so, an analyst at a major London-based shipbroker told Splash today.This is shown by the fact that some rates have more momentum than others. Yesterday, the Gibraltar to Hamburg trans-Atlantic return voyage trip (C8_14) lost an almighty $1,065 per day from its timecharter average on a day previous, falling to $5,365 per day on Wednesday (based on a 180,000-dwt vessel). In contrast, the Western Australia to Qingdao route (C5) has stayed more or less static this week, today trading at $4.967 per tonne (based on a 160,000-dwt vessel).Charterers may be playing a waiting game, waiting for rates to fall further, the analyst told Splash, but overall the trend is more positive compared to the start of the year.The paper market gives a gloomy outlook for the capesize market in the short term, which also isn’t helping market sentiment, but expect things to perk up in around two months’ time.July’s timecharter average FFA for the five benchmark cape routes (5 TC) is trading at $6,704 per day, while contracts for the current month have been trading at $5,200 per day today. Source: Splash 24/7
Newcastle to Amsterdam ferry route marks 20th anniversary
A ferry route taking passengers from the North East to Holland is celebrating its 20th anniversary.
Ferry operator DFDS Seaways and the Port of Tyne, based in South Shields, estimated that the service has carried 10 million passengers across the North Sea since 1995.The Newcastle to Amsterdam route is an important gateway to North East England and a very significant driver for the region’s tourist economy. Yesterday, passengers checking in at the route’s North Shields terminal for the trip to Ijmuiden, near Amsterdam, were given a slice of birthday cake. Other celebrations lined up include a one-day cruise from North Shields on Sunday, complete with birthday afternoon tea and live entertainment from a Michael Jackson tribute act. Max Foster, passenger director for DFDS Seaways, said: “We are really proud of the ferry service that we operate between Newcastle and Amsterdam. “The route’s popularity
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is testament to the hard work and dedication of our ship and shore-side teams.“They work tirelessly to provide guests with a fun, relaxing and comfortable way to travel to continental Europe and make their journey with us the perfect beginning and end of any European break.” PRINCESS SEAWAYS and KING SEAWAYS are the two sister ferries that currently operate daily services on the route.Port of Tyne chief executive officer Andrew Moffat said: “The Newcastle-to-Amsterdam route is an important gateway to North-East England and a very significant driver for the region’s tourist economy. “We are proud to have a long-term relationship with DFDS. While there have been passenger routes for almost 100 years, the Port of Tyne developed the international passenger terminal in the 1990s, and has continued to invest in it and passenger services.“As a result, around £55million per year is added to the regional economy, supporting many jobs in the tourism sector.” Source: sunderlandecho
In Gibraltar DEUTSCHLAND’s - logo on funnel has been painted over and flag changed from Germany to Bahamas
If “The World Is Not Enough”, What Next For Trade?
Bond movies are great for pithy philosophy and the 1998 film The World Is Not Enough contains the following dialogue. Duplicitous heroine Elektra King: “I could have given you the world”. Bond: “The world is not enough”. Elektra King: “Foolish sentiment”. Bond: “Family motto”. Well, it’s glib, but businesses in the global marketplace today, especially shipowners, will see the point. End Of An Era Globalisation changed shipping, previously an imperial service industry, and over the last 60 years it has become a world industry. With a fleet of 58,000 cargo ships carrying every description of goods the world needs, it depends on its customer and the customer is “the world”. So maybe it’s worth stepping back and checking out what “the world” is actually up to today, because it’s busy changing. Wealth Of Nations Over the last 50 years, shipping’s world has been propelled forward by a succession of countries which launched their economies into global trade. It began with Europe in the 1950s and Japan in the 1960s, and developed with South Korea and the Tigers in the 1970s and 1980s (not a good decade for trade though). Then after a pause in the 1990s, China took over, creating a new development boom. All built on merchant shipping. Broken China? The history of these economic dynamos demonstrates that the super-booms they create have a limited life. It happened to Europe, Japan and Korea. Unstoppable headlong growth is replaced by sluggish cycles. Now this seems to be happening to China. Over the last 18 months, China’s seaborne imports seem to have levelled out. Shipping was rescued from a similar plateau at the start of this decade by China’s heroic infrastructure program. But not this time, it seems. “The darkest cloud is property” said a recent Economist magazine article about China’s economy. Since 2008 debt has almost doubled as a % of GDP, and growing out of trouble is not a realistic option. Structural Shift For Shipping No doubt China will find ways to rebalance its economy, but for shipping the big problem is that the resource intensive growth phase could be over. With spare capacity in both the shipping and shipbuilding markets, the industry desperately needs a new trade dynamo. But there are few candidates. Since 2008 China has generated around 50% of the growth in seaborne trade. Europe and the USA have declined and the growth of the other regions is dwarfed by China (see inset graph). Whatever may happen in the long term, in the short term there are no obvious candidates for China’s job.
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Sluggish For Shipping? So there you have it. China’s heroic position as a seaborne importer is changing and the import slowdown may be structural, not cyclical. That could leave shipping with a hole in its demand-side dynamics. India, South America, South-East Asia, and Africa all have a part to play, but are still waiting in the wings. So if forecasters promise you the world, just remember James Bond’s family motto: the world is not enough. Source: Clarksons
Railroad seeks $5 million from tug owners for bridge damage
Nearly a month after a barge on the Southern Branch of the Elizabeth River struck and damaged a key rail bridge in Chesapeake owned by Norfolk Southern Corp., the railroad has filed a lawsuit against two tugboats and their owners. The suit, filed this week in Norfolk federal court against St. Augustine, Fla.-based Tradewinds Towing LLC and Chesapeake-based Intracoastal Marine Inc., respective owners of the tugs Simone and Maverick, seeks up to $5 million in damages.Norfolk Southern's "Bridge 7," built in 1908, sits next to the Gilmerton Bridge and is a crucial link connecting the railroad's coal and cargo-container businesses in Norfolk with the rest of the country. An average of 18 trains cross the bridge daily, including two Amtrak passenger trains, said Susan Terpay, a Norfolk Southern spokeswoman, in an email."Norfolk Southern has determined the bridge to be operationally safe for train traffic," she stated, declining to comment further, citing pending litigation. On the morning of April 26, the suit states, the tug Simone, assisted by the Maverick, was towing a barge loaded with cement forms, headed for the Tappan Zee Bridge
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over the Hudson River north of New York City. As the Simone passed under Bridge 7, the barge hit its "fender system" and pier, shifting the bridge pier about a foot from its foundation, "and such other damage as may be discovered." "Bridge 7 has been extensively damaged, including destruction of the fender system," according to the suit, which accuses the two tug companies of negligence and breach of duty. "Norfolk Southern has incurred and may continue to incur extensive damages due to the cessation of all bridge traffic, both coal and passenger, necessary for implementing temporary and/or permanent repairs."The bridge was closed immediately after the incident, which blocked intermodal trains carrying cargo containers to and from Norfolk International Terminals for about a day. Late on April 27, the railroad announced that the structure was back in service.A bascule bridge with two rail tracks side by side, Bridge 7 has a section that lifts. Drivers passing on the Gilmerton Bridge next to it may be used to seeing the raised section of the dark-colored bridge pointed skyward. "The big thing was that it was knocked out of alignment," preventing the bridge from closing, said Lt. Keith Heine, the Coast Guard's lead investigator on the case. "There was pretty significant underwater damage."Divers continue to work on the bridge, a Federal Railroad Administration spokesman said Thursday.Only one of the two tracks on the bridge is in service, and there is a speed restriction of 10 mph, put in place by Norfolk Southern, the spokesman added.The National Transportation Safety Board assisted the Coast Guard on the investigation, Terry Williams of the NTSB said in an email Thursday.Amtrak service was affected immediately after the incident but was fully restored shortly afterward. It has continued to run two trains daily since April 29, said Kimberly Woods, an Amtrak spokeswoman.Joe Harris, a spokesman for the Virginia Port Authority, said things have returned to normal following the initial interruption of service to its Norfolk container terminal.John Holloway, an attorney representing Intracoastal Marine, declined to comment. Edward Powers, an attorney for Tradewinds Towing, could not be reached for comment. Daniel Warman, Norfolk Southern's attorney, deferred questions to Terpay.The 107-year-old bridge is a critical connection point for Norfolk Southern, carrying all of its coal trains to and from the Lamberts Point export terminal, and more than 95 percent of all intermodal trains serving NIT."That's Norfolk Southern's lifeline," said an industry source, who asked not to be identified. "That is the only - and I mean only - access point for Norfolk Southern into this area." Source: hamptonroads
Dublin Port receives a Port Environment Review System (PERS) certificate
Dublin Port received a Port Environment Review System (PERS) certificate during a dedicated ceremony at the ESPO annual conference in Athens. Mr Santiago Garcia Mila, ESPO Chairman, handed over the PERS certificate to Eamonn O'Reilly, Chief Executive, Dublin Port Company, ESPO said in its press release."We congratulate Dublin Port for achieving the PERS certification, in particular since it has been a long-time supporter of the EcoPort tools and approach. Dublin Port is a good example to follow as it achieves a PERS certification for the fourth time in a row", said ESPO's Chairman Santiago Garcia Mila."We are very pleased to receive this PERS certificate for the fourth time in a
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row. Receiving this PERS Certification at the ESPO Conference is a great honour for us especially as we will be hosting the ESPO Conference in Dublin next year" said Eamonn O'Reilly, Chief Executive, Dublin Port Company. PERS is the only port sector specific environmental management standard. It is the flagship product of the EcoPorts network and is offered as part of the ESPO services to its members through the EcoPorts website. Compliance with the PERS standard is independently assessed by Lloyd’s Register Quality Assurance and the certificate has a validity of two years. ESPO is delighted to observe the increased interest shown to PERS by European port authorities and encourages all ports within its membership to implement the scheme and to get certified. Source: portnews
Dry wells north of the Hyme field in the Norwegian Sea – 6407/8-7 and 6407/8-7 A Statoil Petroleum AS, operator of production licence 348 C, is in the process of completing the drilling of wildcat wells 6407/8-7 and 6407/8-7 A.Both wells have been drilled about four kilometres north of the Hyme field in the southern part of the Norwegian Sea and 140 kilometres north of Kristiansund. The primary exploration target in well 6407/8-7 was to prove petroleum in Middle Jurassic reservoir rocks (the Ile formation). The secondary exploration target was to prove petroleum in Lower Jurassic reservoir rocks (the Tilje and Åre formations). The well encountered about 95 metres of the Ile formation, of which 70 metres were sandstone with good reservoir properties. The Tilje and Åre formations were also encountered, in thicknesses of 200 and 170 metres respectively, of which 160 and 75 metres respectively are sandstone with good reservoir quality. The well is dry. The purpose of well 6407/8-7 A was to prove petroleum in Middle Jurassic reservoir rocks (the Tilje formation) higher up in the structure. The well encountered about 110 metres of reservoir rocks in the Tilje formation, of which 80 metres were sandstone of good reservoir quality. The well also encountered 200 metres of the Åre formation, of which 95 metres were sandstone with good reservoir properties. The well is classified as dry.Data collection has been carried out in both wells. These are the first and second exploration wells in production licence 348 C. Wells 6407/8-7 and 6407/8-7 A were drilled to measured depths of 3030 and 3178 metres, respectively, and vertical depths of 3030 and 2810 metres below the sea surface. Both were terminated in the Åre formation in the Lower Jurassic. Water depth at the site is 259 metres. The wells will now be permanently plugged and abandoned.The wells were drilled by the Transocean Spitsbergen drilling facility, which will now move on to drill wildcat well 6706/11-2 in the Norwegian Sea in production licence 602, where Statoil is the operator. For more information, please visit: http://www.npd.no
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The Malaysian Anti-Corruption Commission (MACC) confirmed on Wednesday that a former Tanjung Offshore Bhd director has been detained to assist in investigations into the purchase of Gas Generators (M) Sdn Bhd.“MACC will obtain a remand order tomorrow,” an MACC spokesperson told Bernama when contacted here. Tanjung Offshore has been on the news lately due to a boardroom tussle that led to the suspension of three company officials earlier this year. Tanjung Offshore is principally involved in provision of engineering equipment, equipment maintenance services, drilling and production platform services to the oil and gas industry via its subsidiaries. At the end of trading today, the company’s shares price was flat at 47 sen with 35,100 shares transacted. Source: Bernama
NNSA hosts International Nuclear Forensics Workshop with participants from eight
countries During May 11-22, the National Nuclear Security Administration’s (NNSA) Nuclear Smuggling Detection and Deterrence program held a hands-on nuclear forensics course at the Pacific Northwest National Laboratory (PNNL) in Richland, Washington. The “International Training Course on Nuclear Forensics Methodologies,” was co-sponsored with the International Atomic Energy Agency (IAEA). Twenty participants from eight countries focused on the application of nuclear forensics methods during the investigation of nuclear or other radioactive material found outside of regulatory control.“NNSA’s support to the IAEA’s international training courses is an important element of our broad commitment to nuclear security. The current course on Nuclear Forensics Methodologies reflects an ongoing commitment to developing and promoting nuclear forensic science globally as a key element of the defense against trafficking,” said Anne Harrington, NNSA Deputy Administrator for Defense Nuclear Nonproliferation. “This course provides a forum for international experts to exercise their nuclear forensics capabilities, contributing to international efforts to prevent the illicit trafficking of nuclear and radiological materials.”Building on previous successful workshops held in February 2012 and November 2013, this year’s event featured applied, hands-on training in the controlled setting of a nuclear
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forensics laboratory. Using a hypothetical illicit nuclear trafficking scenario, participants observed demonstrations of portal monitors and radiation detectors, and practiced preparing evidence for nuclear forensic analysis, conducting measurements using alpha and gamma spectrometry, and consulting nuclear forensics library databases to compare evidence samples with domestic holdings. The participants also had the opportunity to visit PNNL nuclear forensics laboratories.Participating countries included Belarus, Chile, Jordan, Kazakhstan, Lithuania, Morocco, Moldova, and Slovakia. Also supporting the event were U.S. experts from PNNL, Los Alamos National Laboratory, and Lawrence Livermore National Laboratory; as well as foreign experts from the Australian Nuclear Science and Technology Organization, the European Commission’s Joint Research Centre - Institute for Transuranium Elements, the United Kingdom’s Atomic Weapons Establishment, the Canadian Nuclear Safety Commission, and the Swedish Defence Research Agency. For more information please visit : http://nnsa.energy.gov
CASUALTY REPORTING
Fire onboard Maersk Karachi in Bremerhaven On May 22 at noon a fire broke out in the cargo hold into which a ganty crane collapsed onto the "MAERSK KARACHI" at the NTB Terminal in Bremerhaven. To recover the debris, welding work was carried out. As the cargo holds are connected, the fire rescue concentrated
on keeping the flames from spreading. Due to the mass of debris the source of the fire was inaccessible. Fire brigades from Bremen, Hamburg and Wilhelmshaven supported the local resources. Foam and water was being pumped into the ship. As there was not enough foam available, fire brigades from Wilhelmshaven, Bremen and Hamburg carried more material to Bremerhaven. Also the Technical Support Work (THW) Achim was called. Experts were controlling the structural integrity of the ship. The police recommended to Keep doors and windows in Bremerhaven, Langen, Imsum, Weddewarden, Speckenbüttel and Leherheide shut. The fire rescue was measuring the concentration of toxic gases there. The "BUGSIER1", "MELLUM","GEESTE", "NORDERGRUNDE", "SD SALVOR", "TURM", "WESER" and "WILHELMSHAVEN" were alongside the container ship. At shore side 28 engines with 70 men were working to contain the blaze.source: vesseltracker
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US Oil Platform on Fire in Gulf Of Mexico An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.S. Coast Guard said.Fire-fighting crews worked to contain the fire on
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Friday near Breton Island, 50 miles (80 km) offshore New Orleans, the Coast Guard said. All 28 people were evacuated from the platform. It was unclear what caused the incident or how much oil leaked into the ocean, but the Coast Guard said it has observed a 1.4 nautical mile rainbow sheen drifting southwest of the platform.The platform, owned by Texas Petroleum Investment Co, has an estimated 4,000 barrels of crude oil on board, the Coast Guard said. It was not clear if the company also operated the well. The well has been shut and production stopped, the Coast Guard said. The company was not immediately available for comment.The severity of Friday's incident is so far unclear, though it will likely cause jitters after the blowout of BP's Macondo oil well in the Gulf of Mexico in April 2010 caused the worst offshore oil spill in U.S. history.Initial response vessels were on scene and the cause of the incident was being investigated.The Texas Petroleum Investment Co is a Houston-based, private exploration and production company with operations along the Gulf coast of Texas, Louisiana, Mississippi, and Alabama, according to its LinkedIn profile. The company was founded in 1989 and operates more than 2,000 producing wells, it said. Source: Reuters (Reporting by Arpan Varghese and Anupam Chatterjee in Bengaluru, Edward McAllister and Catherine Ngai in New York and Erwin Seba in Houston; Editing by Alden Bentley and Marguerita Choy)
NAVY NEWS Sanctions Force Russia to Abandon Next-
Gen Warship Construction Plans Severnaya Verf shipyard has had trouble finding replacements to Western components used in the design. Construction of a new class of highly advanced warships for the Russian navy has been abandoned after shipbuilders were unable to find parts to replace foreign hardware cut off by Western sanctions over the Ukraine crisis, news agency RIA Novosti reported Wednesday."Currently two of the ships are being built at our shipyards, [but] apparently they will be the only two ships from this project," the marketing director of the Severnaya Verf shipyard, Leonid Kuzmin, told RIA Wednesday. The yard has had trouble finding replacements to Western components used in the design.The Gremyashchy-class corvettes — a class of small warship — are derived from the older Steregushchy-class corvettes but built to allow longer missions and launch cruise missiles. But these plans have been torpedoed by the realities of Russia's import substitution drive, which was intended to mitigate the effects of a Western arms embargo by spurring the development of comparable domestic equivalents.Russian-made alternative components have been made for the two Gremyashchy-class ships already under construction, but Kuzmin said they are not as good as the Western hardware they replace, and the final eight vessels on order will be built as the normal Steregushchy-class corvettes the ships were based on. Source: The Moscow Times
Marineschip onderschept 6000 kg marihuana in Caribische Zee
Niet eerder werd een vangst van deze grootte gedaan door het stationsschip van de Koninklijke Marine in het Caribische Gebied. Gedurende een routinecontrole aan boord van de vissersboot CARIBBEAN SOUL werd een voorraad van 6000 kg marihuana gevonden. De CARIBBEAN SOUL was met 12 personen aan boord onderweg van Jamaica naar Guyana.De vissersboot werd ontdekt door een patrouillevliegtuig van de Amerikaanse Kustwacht. Zij stuurden Zr.Ms. ZEELAND op het vaartuig af voor een inspectie. Net voor zonsopgang werd het bootje gedetecteerd door het marineschip. De helikopter en de snelle onderscheppingsboten met het Law Enforcement Detachement van de Amerikaanse Kustwacht werden gelanceerd. Zij voerden een boarding uit op de Caribbean Soul en troffen vrijwel meteen de enorme hoeveelheid marihuana aan.
De CARIBBEAN SOUL en haar bemanning werden aangehouden en geëscorteerd naar Ponce in Puerto Rico, waar ze zijn overgedragen aan de Drugs Enforcement Agency. “De samenwerking met de Nederlandse Marine en onze overige partners blijft vruchten afwerpen” , aldus de commandant van de Amerikaanse Kustwacht in de sector San Juan. Commandeur Hans Lodder, Commandant Zeemacht in het Caribische Gebied, vervolgt daarop: “Dit soort grote onderscheppingen geven aan dat er voor ons werk genoeg is. Om dit voor elkaar te krijgen, is goede samenwerking en informatie uitwisseling met alle partners in dit gebied cruciaal.”
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SHIPYARD NEWS ABG Shipyard Plunges 20% on Loan
Repayment Worries ABG Shipyard shares fell as much as 20 per cent on Thursday to hit its lowest level in 52 weeks of Rs 137.85 after the company said that it is under the framework of a corporate debt restructuring (CDR) scheme. The ship building company, while responding to clarification sought by the Bombay Stock Exchange or BSE, said, "We wish to advise you that we are working within the framework of Corporate Debt Restructuring (CDR) Scheme and our principal repayment of loans are yet to start."Analysts say if a company faces difficulty in servicing its debt then it goes for restructuring, under which banks either reduce the interest rate or extend the tenure of repayment. In some cases, debts are also converted to equity, they say. A few days ago, media reports suggested that ABG Shipyard, which restructured its debt worth Rs 11,000 crore, missed repayments of the restructured loan. The company's communication was in response to a newspaper report published on May 15, 2015. Since then, the shares of ABG Shipyard have fallen 22.8 per cent.At 2:53 p.m., shares in ABG Shipyard were trading over 12 per cent lower at Rs 150.50 apiece on the BSE. Source : NDTV
Titan Quanzhou Shipyard gets 11 offshore orders
Guangzhou: Hong Kong-listed Titan Petrochemicals has announced it has entered into a framework agreement with Singapore-listed Falcon Energy Group (FEG) for the construction of one semi-submersible and two jackup platforms at its subsidiary yard, Titan Quanzhou Shipyard.Titan Petrochemicals has also signed a memorandum of understanding with its controlling shareholder Guangzhou Zhenrong Energy (GZE), in which GZE has agreed to order two semi-submersibles, four jackups and two FSRUs at Titan Quanzhou Shipyard. In the meantime, GZE has agreed to provide up to RMB60m ($9.67m) to Titan Quanzhou Shipyard for working capital.Titan Petrochemicals is currently working on a series of restructuring plans with the support of GZE. Its proposed scheme of arrangement between the company and creditors has been sanctioned by the Supreme Court of Bermuda in November 2014. Source : splash 24/7
Oil rig evacuated at Harland and Wolff after small fire breaks out
More than 300 factory workers had to be evacuated from an oil rig at Harland and Wolff after a small fire broke out during welding operations. Harland and Wolff said local emergency services were very quickly on hand - however the fire had already been extinguished by H&W Fire Watch on board.A spokesman said: "We would like to thank the Northern Ireland Fire & Rescue Service for their rapid response and professionalism.The Northern Ireland Fire and Rescue Service received the call at around 1.45pm. Workers were back on board within 30 minutes.Lennie Entwistle Area Commander for Belfast said the fire was accidental and was "contained and confined to one of the legs of the oil rig." 350 shipyard factory workers were evacuated. Around 50 firefighters were sent to the scene and and when they arrived they joined up with Harland and Wolff who have their own firefighters - and had already made the first strike at the fire. Some of the Harland and Wolff firefighters joined the Northern Ireland Fire and Rescue Team due to their familiarity with the layout of the rig. It took two hours to close the incident and there were no injuries to any of the shipyard workers nor fire and rescue personnel. source : belfasttelegraph
South Korean major Hyundai Heavy Industries (HHI) joining hands to build warships
Prime Minister Narendra Modi’s Make In India flagship on Tuesday set out on an ambitious course with South Korean major Hyundai Heavy Industries (HHI) and public sector Hindustan Shipyard Limited, Visakhapatnam, joining hands to build warships. Another Korean firm, Samsung, will be collaborating with Kochi Shipyard to make liquefied natural gas (LNG) tankers. A special team of HHI will visit India soon to meet officials of Hindustan Shipyard Ltd as well as officers of the Indian Navy and others to finalise the details of its foray into naval ship-building and other
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related areas. The broader plan agreed upon during Prime Minister Modi’s visit to South Korea entails HHI giving technological assistance and related help in various spheres, making submarines and destroyers included. HHI, which is adept at modular construction in ship-building, would help in bringing down the time frame in the construction of ships besides bringing its high-end technology to its Indian partner This would help the Indian Navy in getting its requirements met in a shorter span of time than usual, and all of it made in India, sources said. For example, if all works to plan, a six-year time frame needed to build certain vessels could be brought down to two-and-a-half years, sources explained. HHI’s ship manufacturing facility in Ulsan is the largest shipyard in the world. In giving a further fillip to the Make in India initiative, HHI would outsource building of small- and medium-sized ships to India.In future, this venture between HHI and Hindustan Shipyard could also export vessels to other countries. HHI’s world-class technology and experience will be available for logistical development in related areas, including dry docks. A joint working group will work out the final contours of the India-South Korea collaboration in making of ships and LNG tankers. Ship-building is a top priority for us, Modi told Choi Kil-seon, chairman of Hyundai Heavy Industries. The Prime Minister drove over 85km to the HHI headquarters in Ulsan, the cradle of South Korea’s industrialization effort, where he was received by Choi, HHI president Kwon Oh-gap and mayor Kim Gi-hyeon. HHI has undertaken a total of 30 offshore projects for India, beginning with the Mumbai offshore oil platform project in 1982. Make in India was the flavour of Modia’s day out in South Korea on Tuesday. He had one-on-one meetings with the heads of Hyundai, Samsung Electronics, POSCO and LG. The total worth of the companies Modi interacted with is three quarters of $1 trillion. Addressing the CEOs in Seoul, Modi outlined the steps taken by his government, which include fast-tracking of approvals in industry and infrastructure, and liberalisation of FDI. I invite you to India to see the change. We are also prepared to work with you in making conditions more conducive for you,� Modi said in his address to the first meeting of the newly set-up India-South Korea CEOs Forum. Source From India Defence News.
Turkish shipyard facing blacklisting: PQA acquires new $2.2 million vessel with
'refurbished' engine Having long been prone to chartering crafts, the management of Port Qasim Authority (PQA) took about four long years to acquire a new Turkish-made pilot boat of which two caterpillar main engines, the port operator suspects, are refurbished. While its technical team stays out of any accountability for its failure to detect a "defective make" of PB Lahoot's main engine during the year-long acquisition process, the PQA is contemplating to "blacklist" M/s Sanmar Denizcilik, and possibly its local agents from M/s Salateen Syndicate, for the supply of a faulty vessel. Supplied to PQA in May 2013, the pilot boat is presently lying out of order for more than last two months, since March 19, when the C-18 model main engine of the vessel had suffered a major breakdown. The brand-new pilot boat, which the Authority had acquired at a cost of $2.2 million through a dubious tendering process that had started in September 2011, developed what PQA officials believe an 'unusual' fault only after 5129 running hours. The sources, however, put the number for total running hours at less than 4000 hours, which warrants a major overhauling of the engine. "Within 25 months of its acquisition the boat is out of order," they wondered. The port operator too is scratching its head. "This is very unusual in marine practice and indicates that the engine may have been refurbished or otherwise of defective make," reads a letter the PQA wrote to the Turkish builder of PB Lahoot on the 5th of this month.
Notified of the engine failure on March 26 and April 1, neither M/s Sanmar nor its local representatives from M/s Salateen responded to PQA's repeated reminders. "No representative as to date has visited PB Lahoot to analyse the damage or share technical support for repair/renewal of the engine," laments the letter undersigned by Secretary PQA Muhammad Saqib. The repair of the vessel, the sources said, would cost the PQA about Rs 140 million. The sum, they claimed, stands exclusive of installation and transportation expenses the Authority would be incurring. Regretting the Turkish shipbuilder's "careless business approach', the PQA claims to have discovered during technical inspection of the vessel that its engine broke down because of an inherent design or make default on the part of M/s Sanmar Shipyard. The Port Authority, therefore, is planning to claim damages or blacklist the Turkish firm in Pakistan. "PQA reserves the right to claim damages and/or blacklist M/s Sanmar Shipyard from any future dealings with PQA or other Pakistani government departments," it warned. As is evident from the hard-worded content of the letter in question, the port operator tends to deal with the foreign shipbuilders under Rule 19 Listing of Suppliers and Contractors of Pakistan Public Procurement Rules 204. If sources are to be believed the failure of PB Lahoot's engine is not the only skeleton in the closet of PQA. "Sanmar also had tricked PQA in the tendering process," they claimed recalling that PQA had advertised in September 2011 a tender for the procurement of an ASD tug of 65 tons bollard pull (TBP) and a pilot
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boat. The Turkish shipyard was declared financially qualified along with M/s Mustang Wales of UK for the pilot boat. On financial bids opening in January 2012, M/s Sanmar appeared as a lowest bidder having demanded $1.89 million for the pilot boat compared to M/s Mustang's $3.898 million. When scrutinised later, the PQA found that the company's actual bid stood at $2.2 million and not $1.89 million. "They said their offer did not include mobilisation charges," the sources said. The fact, however, remains that even its revised $2.2 million offer made M/s Sanmar the lowest bidder. Moreover, the sources said, the Turkish shipbuilder had also failed to meet PQA's tender demand of providing the port operator with the spare parts required for maintenance of PB Lahoot. "PQA had to float a separate tender (on January 16) for the procurement of spares for the pilot boat," they said. The deal is expected to cost the port operator more than Rs 5.5 million. Having submitted its contract agreement without a stamp duty, M/s Sanmar is also accused of having manipulated issues relating to the payment of performance bond and retention money "in connivance with PQA officials." The PQA, allegedly, had returned to M/s Sanmar the money it had deposited on account of performance bond and retention as soon as the company brought the pilot boat to Port Qasim in May 2013. The amount, however, was later resubmitted when a newspaper blew whistle on the irregularity. Source : business recorder
South Korea’s Big Three yards position themselves to win Gail’s LNG tender
SOUTH Korea’s Big Three shipbuilders, Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries and Hyundai Heavy Industries, have sought to position themselves to win Gail’s tender to build LNG carriers by teaming up with Indian yards. After Indian prime minister Narendra Modi completed his visit to HHI on the final leg of a three-nation tour, DSME confirmed it was in talks with Pipavav Defence and Offshore Engineering over collaboration in building LNG carriers. “We have had discussions about building LNG carriers and have been considering [ways] to help with each other,” a DSME spokesman told Lloyd’s List. “We may be joining the Gail tender this time.” DSME was the latest South Korean major shipbuilder to show interest in finding an Indian partner to compete for the New Delhi business, after HHI signed a memorandum of understanding to provide technological support for construction of LNG carriers to Larson & Toubro and SHI sealed a similar pact with Cochin Shipyard. Last year, Gail tendered to build and charter nine 150,000 cu m-180,000 cu m LNG tankers for shipments from the US to India, including three that must be built in India.The Indian state-owned energy firm has sealed purchase deals to lift 3.5m tonnes from the Sabine Pass terminal and 2.3m tonnes from Cove Point per annum for 20 years, so it needs those vessels to meet shipping requirements.The tender’s local element was aimed at developing India’s shipbuilding industry, as no yard in the country has ever built LNG tankers and almost all lack sophisticated facilities and technology to do so.But Gail had trouble awarding the tender by the end of March as planned, with reportedly no owners willing to take the risk with Pipavav, L & T and Cochin — the only Indian yards qualified to participate in the tender. Nonetheless, Gail is expected to issue another tender to seek up to 11 LNG tankers soon, with time running out to acquire tonnage as it has agreed to start lifting the US cargoes in 2017. The three shipbuilders might have a much better chance in convincing potential owners if they can manage to partner with the South Korean majors.Of the world’s existing 162 LNG tanker orders, DSME holds 53 vessels, SHI has 25 ships and HHI has 21, according to Clarksons data.In turn, the majors will have put themselves in a pole position to win the foreign-built vessels in the upcoming Gail tender, which could help improve their bottom lines amid the persistent industry downturn. In 2014, HHI booked a full-year net loss of Won1.8trn ($1.6bn), one of its worst years since foundation. Net profits at SHI fell 76.7% to Won147.3bn in the 12 months. While its earlier performance was relatively resilient, DSME slipped into the red during the first quarter for the first time in eight and a half years. Source : lloydslist
ABG Shipyard shares tank over 13% Shares of ABG Shipyard tumbled over 13 per cent on Thursday after the company said that it is working within the framework of corporate debt restructuring (CDR) scheme and its principal repayment of loans are yet to start. The scrip plunged 13.15 per cent to settle at Rs. 149.65 on the BSE. In intra—day, it slipped 19.99 per cent to Rs. 137.85 —— its 52—week low.At the NSE, it dipped 13.34 per cent to end at Rs. 149.70 The company’s market valuation fell by Rs. 121.29 crore to Rs. 805.71 crore.On the volume front, 4.62 lakh shares of the company changed hands at the BSE and over 20 lakh shares were traded at the NSE during the day. In a filing to the BSE ABG Shipyard today said, “We wish to advise you that we are working within the framework of corporate debt restructuring (CDR) scheme and our principal repayment of loans are yet to start.”BSE had sought clarification from ABG Shipyard with respect to reports of defaults on restructured loan. In the broader market, the BSE benchmark Sensex ended at 27,809.35, down 27.86 points. Source : thehindubusinessline
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Ferguson Group, a global specialist in the provision of offshore DNV 2.7-1/EN12079 containers, freezers, workspace and accommodation solutions, has increased its Norwegian product range to include a large fleet of chemical tanks, including cryogenic tanks for liquid nitrogen storage and transportation Chemicals are essential for use in the energy industry. They are routinely used in the offshore sector from E&P to decommissioning. It is a specialist area, as the type and grade of chemical is often dependant on the geology of the formation.
Morten Smith General Manager, Ferguson Norge said: "We continually review our fleet to ensure that we can provide products to meet our customers’ needs. This has led to an investment in a number of new chemical and cryogenic tanks."Chemicals used offshore must be stored and transported under strict controls, set down in the IMDG code, an international set of regulations. This regulates how they are transported, in order to keep both the environment and people from harm.The new tanks have been designed and manufactured specifically for the safe transportation and storage of a wide range of oilfield chemicals.
Smith: "Our tanks are constructed using different materials to meet with the storage and transportation requirements of a wide variety of oilfield chemicals. Some chemicals can have a corrosive effect if incompatible with the tank material, causing pitting and damage to the tank shell. It is therefore important to ensure product compatibility at all
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times. Using the wrong tank could potentially pose a risk to both people and the environment."Ferguson Group has a dedicated team of fluid solutions specialists who are on hand to advise on how best to handle potentially hazardous chemicals and acids. Smith concluded: "Our Fluid Solutions Team is able to advise on the correct tank type for your operation. Ferguson Group offers a level of expertise in chemical handling that can save customers time and money." For further information please contact [email protected]
Oliveira announces Certex partnership for X-Trema Line Dyneema®
Leading rope maker, Oliveira, has appointed Certex as their exclusive reseller for the company’s X-Trema line HMPE Dyneema® for dedicated geographical territories. Part of the Axel Johnson Group, Certex is a leading supplier of lifting and hoisting equipment for maritime, offshore and general industry, with a network of 49 locations in 14 countries throughout North and West Europe, Scandinavia and Russia. As strong as steel wire rope, X-Trema line HMPE Dyneema® rope is a practical alternative to steel wire in applications where reduced weight, optimal strength and ease of handling are essential such as hoisting and lifting slings. Certex already uses steel wire ropes from WireCo WorldGroup, Oliveira’s parent company. It has now decided to strengthen this long relationship by partnering with Oliveira
Holland for the introduction of Dyneema® synthetic ropes. Established in 1825, Oliveira is the oldest rope manufacturer in Portugal. Its experience and know-how has persuaded Certex that Oliveira Holland is the right partner to fulfill their goal of becoming one of the top three companies in Europe supplying Dyneema® rope slings within the next three years.“Our goal is to penetrate the market through a combination of premium, high performance Dyneema® rope with outstanding service. We are very confident that the partnership will be successful and strengthen our presence and brands in the global market place,” says Mr. Orlando Belfor, Product Area Manager, Oliveira Holland. Oliveira Holland will supply special branded Grey X-Trema Line Dyneema® on master reels to Certex. Dedicated Certex splicers will then confect slings, enabling the company to offer service and short delivery times and so exceed customer expectations. Oliveira Holland will facilitate a splicing course for Certex personnel and a training programme for sales people. Furthermore, both companies will work closely in developing new business opportunities. For more information, please contact your local Certex branch office or the Oliveira Holland sales team at +31 (0) 78 611 77 40 or via email: [email protected].
Inmarsat 3rd Global Xpress Satellite's Launch Delayed
Inmarsat has provided an initial update on the launch schedule for Inmarsat-5 F3 (I-5 F3) following the failure of the preceding Proton Breeze M launch from the Baikonur Cosmodrome in Kazakhstan on Saturday 16 May. According to an announcement by Inmarsat’s launch partner, ILS, the Proton Breeze M rocket carrying the Centenario satellite suffered a disabling anomaly during the operation of the third stage, approximately eight minutes after lift-off, resulting in the loss of the satellite and rocket.A Russian State Commission has begun the process of determining the reasons for the failure. In parallel with the State Commission, ILS will form its own Failure Review Oversight Board, which will review the State Commission’s final report and corrective action plan, in accord with U.S. and Russian government export control regulations. Rupert Pearce, CEO of Inmarsat, speaking about the planned ILS launch of Inmarsat-5 F3, said: “This incident involving a failed Proton launch from the Baikonur Cosmodrome is extremely unfortunate and will inevitably delay our launch plans for our third Global Xpress satellite.“This is the third time our Global Xpress programme has suffered launch delays because of Proton launch failures. Although in the past, Proton has returned to flight within a few months of a launch failure, it will not be possible to determine the length of the delay in the launch of I-5 F3 until the cause of the Centenario launch failure is established.“Customers are understandably anxious to see
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the delivery of GX services on a global basis, and as soon as we have sufficient information to ascertain the new launch date for I-5 F3, we will make the information public, as well as comment further on the impact of the delayed launch of I-5 F3.“Meanwhile, we are pleased by the strong interest in GX services across many customer constituencies and buoyed by early revenues from I-5 F1, which is in service over EMEA and Asia, and by the successful delivery of I-5 F2 into orbit over the Americas.“We are also reassured that I-5 F4 is currently under construction by Boeing in California, and remains on schedule for completion in mid-2016, with a potential SpaceX launch in the second half of 2016, providing us with significant mission assurance in the case of any protracted delays in Proton’s return to flight, or a failed launch of I-5 F3.”The delay in the launch of Inmarsat-5 F3 is currently expected to have a small negative effect on 2015 revenue and earnings. The impact in subsequent years cannot currently be determined due to timing uncertainty and consequently Inmarsat is therefore suspending its guidance of an 8-12% CAGR in wholesale MSS revenues over 2014-16. The medium term expectation for GX to deliver no less than $500m of additional revenues by the fifth anniversary of the global launch of commercial GX services and the related revenue growth profile are currently not changed by this delay. Satcom Global will provide further information once it is available, until then please contact your friendly Satcom Global Account Manager with any questions. Source : marinelink
Maersk Tankers pays $30.5m for 3-year-old MR ship
Brokers report the the Danish tanker giant, Maersk Tankers, has bought the 51,000 dwt MR product tanker FLAGSHIP IRIS from Greece’s Prime Marine Management. The three-year-old vessel was built at Hyundai Mipo in South Korea.The Athens-based company is left with one MR vessel on its fleet list. The vessel is six years older and slightly smaller, called AMILIA PACIFIC. Trine Leth, head of communications with Maersk Tankers, declined to comment on the deal. Maersk has been reportedly purchasing a string of modern MR tankers to its fleet over the course of the past year. At the end of November, Maersk signed a deal to acquire four 50,000 dwt MR newbuildings from Greece’s Horizon Tankers for $34.8m a piece. The vessels are expected to hit the water this year. Maersk Tankers operates the world’s largest product tanker fleet and is also present in the gas carrier market. Source: splash 24/7
Allseas PLMV SOLITAIRE seen from the bridge of PSV VOLSTAD SUPPLIER operating at the Polarled project
Kalmar to deliver two additional automatic stacking cranes for DP World Brisbane
Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane, the company said in its press release. The cranes will join a fleet of 14 Kalmar ASCs at Fisherman Islands Terminal, bringing the number of modules servicing container trade to eight and increasing capacity by 14 percent to 720,000 TEU. The new ASCs will be delivered fully erected in 2016 and they are expected to be commissioned in January 2017.DP World Australia's Managing Director and CEO,
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Paul Scurrah, said the investment at the Port of Brisbane is a strong signal of the company's commitment to Queensland trade. "Productivity at our Fisherman Islands Terminal has grown from strength to strength," Mr Scurrah said. "In the past six months we have seen higher waterside productivity and a more consistent operational performance from our ASC and shuttle terminal. We are confident that trend will continue." Glenn Wayne, General Manager Operations, DP World Brisbane, commented, "The acquisition of the two new ASCs is expected to further improve our quayside productivity, while enabling a more efficient transfer of containers from our road side operation. It will also result in a 14 percent increase in yard stacking capacity, while providing an additional five truck lanes which will further reduce truck turn times across all shifts." Since DP World Australia launched its semi-automated terminal with seven operating modules in May 2014, key performance metrics including truck turnaround time and quay crane productivity have improved significantly. The majority of trucks are processed through the terminal in less than 30 minutes, and quay crane gross moves per hour are now above mode pre-implementation levels. End-to-end efficiency is achieved in the terminal through a combination of Kalmar automated stacking cranes, shuttle carriers and automated truck handling, all integrated to operate in an optimal manner with Kalmar terminal logistic system and Navis terminal operating system. Source : Portnews
HMM sells two VLCCs to Sinokor for $100m South Korea’s Hyundai Merchant Marine has sold two VLCCs to its compatriot Sinokor for $50m each, brokers told Splash.The Korean-built vessels are the UNIVERSAL CROWN (309,400 dwt, built 2005) and the UNIVERSAL QUEEN (309,400 dwt, built 2005). The sisterships have no employment commitments attached. The price paid for the 10-year-old vessels is “about right” and is in line with market expectations, the broking source told Splash.Though the company started life in 1976 as a VLCC owner, the sale leaves just one VLCC in HMM’s owned fleet, being the HYUNDAI SUN (301,200 dwt, built 1998). Although the vessel is 17 years old, the HYUNDAI SUN has not yet been offered for sale, Splash heard.“There have been rumours that a number of owners are looking to exit the VLCC market,” the broking source said, but it is not known if HMM is one of them.At the end of April, Sinokor sold two VLCCs to China VLCC for $165m. The vessels were BEIJING SUNRISE (321,000 dwt, built 2009) and DALIAN GLORY (302,000 dwt, built 2011). Source: splash 24/7
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Norilsk Nickel sells Arkhangelsk Sea Port A Norilsk Nickel company presentation made in London on May 18 reveals that the company intends to sell its stake in the Arkhangelsk port in the course of 2015. Also other socalled none-core assets might be sold, among them the company’s gas fields in the Taimyr Peninsula.In addition, Norilsk Nickel considers to sell the Yenisey River Shipping Company, another key Arctic asset, newspaper Vedomosti reports.The accumulated sales price for the objects could amount to about $1 billion, the company says. The Arkhangelsk Sea Port, a key regional infrastructure object, in 2014 had a cargo turnover of 1,5 million tons, of which 400,000 tons were goods belonging to Norilsk Nickel. The port is considered a hub of major importance for shipping along the Northern Sea Route and is connected with Belkomur, the projected railway line between Arkhangelsk and western Siberia.The port is a component in Russia’s transport strategy for the period to 2030. According to the strategy, an improved deep-water port in the area will ultimately have an annual capacity of 30 million tons.Among potential buyers of the Arkhangelsk port are Chinese investors. During a recent business visit to China, representatives of the the Arkhangelsk regional administration confirmed that a “principal interest” in the port of was displayed by chinese companies. Source : Barentsobserver
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