THE BIG FOUR
Germany's largest bank, Deutsche Bank AG, has declared it will not finance a controversial coal port expansion in Australia near the Great Barrier Reef, responding to calls from environmental groups and tourism operators. HSBC, Europe's biggest bank, also signalled on Friday it would be unlikely to finance the project. Deutsche Bank's stand marks a win for those opposed to $26 billion worth of coal projects that plan to use the Abbot Point port, already facing delays due to weak coal prices. But one company involved said the bank's position made no difference. "This doesn't impact our proposed projects in any way," Indian firm GVK Hancock spokesman Josh Euler said. Green groups and marine operators fighting to protect the World Heritage-listed reef took their campaign to Europe this week, urging Deutsche Bank, Societe Generale and HSBC not to back the Queensland coal projects. They want to stop a government-approved expansion of Abbot Point that would involve dumping 3 million cubic metres of dredged soil about 25 kilometres (15 miles) from the Great Barrier Reef, an issue that is also of concern for UNESCO's World Heritage committee. Campaigners against the Abbot Point expansion failed to win support from Societe Generale on Tuesday, according to their web site, but were successful at Deutsche Bank's annual meeting on Thursday. (http://www.marketforces.org.au/europecoalfinance)
The first phase of the Jiangnan Changxing Shipbuilding Base has been finished and is already in operation on Changxing Island, Shanghai. Built by the China State Shipbuilding Corporation (CSSC), it has three production lines and four boatyards capable of holding 300,000-ton ships. Almost unparalleled in the world, it is the biggest shipbuilding project ever to be undertaken in China. Shanghai has the potential to be the world's largest shipbuilding base.
Since 1960, J. Ray McDermott's Middle Eastern facility has fabricated and installed over 630 structures, 330,693ST of steel, and has installed over 2,610 miles of pipeline throughout the Arabian Gulf, Egypt, India, the Caspian, Africa and the North Sea. Recently they have upgraded one of the assets that make these remarkable numbers possible. The firm’s Derrick Lay Barge-27, owned by Hydro Marine Services but operated by McDermott, now has an impressive set of specifications
Cargill has announced a change in shipping strategy, following the sale of its last four remaining Panamax bulk-carriers, and from here on will charter in ships for all its cargo requirements. "The widespread trend towards consolidation and size within the ship owning segment implies one either gets bigger or scales back," said Vice President of Cargill International Tom Intrator in a statement. "And in our case we have chosen the latter."
During November MacGREGOR won offshore equipment orders with a total value of over $73.5 million (50 million euros); the equipment will be delivered during 2009-2010 Offshore equipment orders recently signed by MacGREGOR’s Offshore division include the single biggest order in the history of the newly acquired Norwegian company Hydramarine AS. This is for two Hydramarine active heave compensated (AHC) cranes for an offshore vessel being delivered in 2010 to a Norwegian shipowner
Len Jones was born in 1911, the coronation year of King George V and the year the Titanic was launched at Harland & Woolf in Belfast. During his lifetime there have been four British monarchs, 19 Prime Ministers, two World Wars and the break up of the British Empire. Women have won the vote, man has landed on the Moon and the world has seen the invention of television, computers, the internet, mobile phones and SatNavs.
Brazil's state oil giant Petrobras said on Thursday that it had made four "important" new oil finds that should boost its oil reserves by about 1.4 percent. Petrobras said the discoveries in Brazil's northeast region would eventually increase reserves by more than 130 million barrels, or 1.4 percent. Brazil's current reserves are 9.278 billion barrels. The finds were made in four mature fields where production was thought to be declining.
For the second time in a week, global marine terminal operator DP World welcomed and simultaneously handled two mega container vessels at its flagship Jebel Ali Port, reinforcing its relentless efforts and capability to continuously meet customers’ demands. The ships, MSC Beatrice and MSC Lauren, sailed in within 10 hours of each other, barely a week after the MSC Daniella and the MSC Bettina. All the four vessels are owned by Geneva-based Mediterranean Shipping Company (MSC) and
Wilhelmsen Ships Service’ (WSS) was a sponsor of last month’s Smart Shipping event in Singapore, with Business Director Ships Agency Frederic Fontarosa describing it as an ‘essential conference for the industry which is certain to root itself firmly in the international maritime events calendar’. Held from 17-18 October at the Four Seasons hotel, the event was attended by over 170 delegates representing over 40 of the world’s leading shipowners
Abu Dhabi-based, CCC (Underwater Engineering), saves on operational costs with Saab Seaeye Panther XT Plus ROV. “Its ten-thruster power easily overcomes the four-knot currents,” says CCC’s ROV Manager, Tavis Letherby, “and having two powerful Schilling manipulators to hand is a combination that stands out from everything else.” He finds that 90 per cent of the tasks normally undertaken by CCC’s 150 HP hydraulic work-class ROVs is now possible
La Mede/Lavera plant merger project failed; Total may invest 300 mln euros in La Mede near Marseille. Total, Europe's biggest oil refiner, is giving itself until the spring of 2015 to review its options for the French refining sector, which could include capacity cuts but no site closures
Big slate of refinery maintenance in U.S., Canada; export rush bucks long-term trend. A late-year rush for gasoline in the United States is creating unexpected demand for imported cargoes and giving struggling European refineries a welcome autumn boost.
Caterpillar’s complete system solutions strategy Caterpillar Motoren is a German-American success story,” were the opening words of Oswald Schöffel, CEO of the Caterpaillar Motoren GmbH, Kiel, Germany, in welcoming guests and select media to the Caterpillar Motoren Kiel
3rd U.S. condensate export cargo heading to Singapore; Pioneer expects exports to rise to 50,000 bpd next year. Eyes exports of bigger cargoes to reduce freight costs. Pioneer Natural Resources plans to double its U.S. exports of condensate, an ultra-light oil, to 50
Several new deliveries to Latin America; strong 2014 year for Liebherr mobile harbor cranes Liebherr said its mobile harbor crane population in Latin America is quickly growing with more than 50 order intakes in four years. Despite volatile exchange rates
Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant. Adding to renewed demand is the more potent interest of major east Asian companies
Classification society awards SCR system emissions certificate. MAN Diesel & Turbo has been awarded a Tier III - compatibility certificate by the DNV- GL classification society for MAN 8L21/31 four- stroke engine aboard a DFDS Seaways ship with a retrofitted SCR (Selective Catalytic
Russia's biggest oil producer Rosneft said on Saturday that Exxon Mobil was still continuing exploration drilling at their joint project in the Arctic Kara Sea. "The work on the University well is continuing according to plan. We are satisfied with the decision of the U.S
Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country's busiest ports that now has
Diesel air pollution from ships, trucks, trains and other big machines at the Port of Long Beach has declined by 82 percent since 2005, a comprehensive air quality analysis has found. The report – which focuses on 2013 – shows seven straight years of steadily declining air pollution
ABB announced at the UN Climate Summit in New York today that it is joining the UN’s Sustainable Energy for All initiative (SE4ALL). The company will provide expertise on energy efficient motors and transformers to help governments devise policies that accelerate energy savings.
Denmark's Maersk Line will spend around $3 billion a year from 2015-19 on new ships to butress its position as the world's biggest container shipping company, it said on Wednesday. "The current orderbook (is) not sufficient to grow with the market," Maersk Line
Denmark's A.P. Moller-Maersk said on Wednesday it would invest billions of dollars in new ships, reap hundreds of millions in savings and announced valuable contracts for its drilling rigs. But shares of the world's largest container shipping company fell more than 3 percent
Dubai companies have expressed their investment interest in the development of Albania's Durres Port and Shengjin Port, according to Xinhua News Agency. Albanian Transport and Infrastructure Minister Edmond Haxhinasto met with the chairman of the DP World group Sultan Ahmed bin Sulayem and the
Finnish end-to-end cargo operator, Containerships, has ordered two additional new, state-of-the-art, dual-fuel engine-technology containerships. This follows an order announced earlier this year for two similar vessels. With the announcement