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Five Years

Weak but Steady Growth in Oil & Gas Tanker Fleet

The world fleet of oil, chemical and gas tankers is predicted to continue to grow over the next five years, although at a much more sluggish rate than the previous five years, according to a Shipbuilding Market Report issued this month by Lloyd’s Register - Fairplay (LR Fairplay). The oil tanker fleet, which currently stands at 7,516 ships, is expected to grow by 1.9 percent per year over the next five years in terms of the number of ships. Deadweight ton (dwt) capacity will rise by 5.7 percent annually over the same period, reflecting a movement toward larger ships. New shipbuilding orders for oil tankers will amount to 76 million dwt through the end of 2013, a 60 percent decrease from the shipbuilding binge of the last five years. “The volume of seaborne oil is set to grow next year, although not at the same pace as fleet capacity,” said Niklas Bengtsson, project manager and senior consultant for LR Fairplay. “The record number of shipbuilding orders in 2006 means that a large number of ships are being delivered to owners this year. The gap between supply and demand will therefore continue to grow, which is likely to generate an increasing fleet of idle vessels.” The chronic overcapacity in tanker tonnage will accelerate the scrapping of older ships. Removals of oil tankers through year-end 2013 will amount to 50 million dwt, which is up by 10 percent compared to the previous five years


Stratos Wins Protest of Five-Year Contract

The U.S. Court of Federal Claims in Washington, D.C. has granted the Stratos protest of a five-year U.S. Navy SPAWAR (Space and Naval Warfare) Inmarsat lease contract award to Comsat. The court ruled the contract awarded this past June was legally invalid, and required the U.S. Navy to retender its request for proposal for the five-year $111.9 million contract. The Court directed the Navy to conclude the recompetition by January 28, 2000.


Seadrill Secures Two New Tender Rig Contracts

Seadrill has been awarded a contract by Chevron for extension of the production drilling assignment for the self-erecting tender rig T4. The contract extension has a duration of five years. The estimated contract value is approximately $156m. The commencement of the new contract is scheduled for second quarter 2008 following a five-year survey after completion of the current contract. T4 is currently operating offshore Thailand.


Cammell Laird Begins ‘Second Chapter’ of RFA Cluster Contract

CammellLairdApprentices.jpg

Merseyside shipyard and engineering firm Cammell Laird has formally started the second five year cycle of its biggest single contract. Work began in June 2013 on the second period of Cammell Laird’s through-life support cluster contract to maintain nine of the 13 ships in the Royal Fleet Auxiliary (RFA) flotilla.  The cluster contract was first awarded to Cammell Laird in 2008 and following reviews of performance and value for money the contract was extended for a further five


Jack-up Rig Deal Agreed by NADL & Ship Finance

West Linus: Photo courtesy of Seadrill

North Atlantic Drilling ("NADL") and Ship Finance International Limited ("Ship Finance") agree a combined a combined sale & leaseback arrangement for the harsh environment jack-up rig 'West Linus'. Ship Finance will acquire the harsh environment jack-up drilling rig West Linus from a subsidiary of NADL.  The West Linus is currently under construction at Jurong Shipyard in Singapore with scheduled delivery in December 2013.


MR Tankship Market Analysis: Second-Hand Price-Rise Outstrips Newbuild

MR2 Tanker Values: Image McQuilling Services

In their latest analysis, shipbrokers & marine transport consultants, McQuilling Services, in their latest analysis discuss observations, current and historical, for the clean tanker market, specifically MR tankers. The report concludes that they believe the current MR secondhand asset market will adjust to reflect the weak TCE (Time Charter Equivalent) environment over the longer term. Excerpts as follows: " In Figure 1 [shown here] we display the price movements over the last 15


US Ocean & Coastal Shipping Market Report

A decline in demand for freight transportation leads IBISWorld to update its market report on US Ocean & Coastal Transportation. The transportation sector provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation. The deep-sea shipping activity includes US flagged vessels and non-US flagged vessels. Marine transportation establishments using the facilities of the St. Lawrence Seaway Authority Commission are considered to use the Great Lakes water


Ultra-Deepwater Cajun Express Contract

Transocean Ltd. (NYSE:RIG) announced that the Board of Directors of Petroleo Brasileiro S.A. (Petrobras) has approved the award of a three-year contract for the ultra-deepwater semisubmersible rig Cajun Express for operations in Brazil. Petrobras has the right within one year of contract execution to convert the three-year contract to a five-year contract. Estimated contracted revenues related to the three-year contract term and five-year contract term, if elected, are approximately $558


U.S. Merchant Marine Academy Welcomes Class of 2017

The U.S. Merchant Marine Academy welcomed its incoming Class of 2017, consisting of 238 plebe candidates from across the country. Upon arrival, the Congressionally-nominated future Midshipmen began a rigorous, 18-day regimen of academic, military and physical training known as Indoctrination (INDOC), their first step toward becoming future leaders and licensed maritime officers. “The new plebe candidates make up one of the most diverse classes in Academy history


Vigor Awarded USS Emory S. Land Drydock Contract

 USS Emory S. Land (AS 39): Photo in public domain

The U.S. Department of Defense informs that Vigor Industrial, LLC, of Portland, Oregon, is being awarded a $16,984,940 firm-fixed-price contract for a 120-calendar day regular overhaul and dry docking of USS Emory S. Land (AS 39). Work will include No. 1 and No. 2 boiler inspection, propulsion shaft removal and inspection, underwater hull preservation, ship's service turbo generator five-year American Bureau of Shipping inspection, structural plenums refurbishment, domestic reefer upgrade


Aker Wayfarer Wins 5-Yr Contract from Petrobras

Photo  Aker Solutions

  Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) has won a contract worth USD 465 million over five years from Petrobras to provide subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the fourth quarter of 2016 and has a


'Aker Wayfarer' Wins Petrobas Subsea Contract

Skandi Aker OSV: Photo Aker Solutions

Aker Solutions' subsidiary Aker Oilfield Services (AKOFS) says it has won a contract worth US$465-million over five years from Petrobras to provide subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the fourth quarter of 2016 and has a


General Dynamics Wins U.S. Navy Nuclear-Submarine Contract

General Dynamics to Provide U.S. Navy with Nuclear-Submarine Support Work

  The U.S. Navy has awarded a $234 million contract to General Dynamics Electric Boat to provide planning yard work, engineering and technical support for nuclear submarines. The contract has a total potential value of $1.5 billion over five years if all options are exercised


MAN's PrimeServ Clinches DOF Service Deal

 Pictured at the signing ceremony: (standing, from left) Mikael Adler – Managing Director, MAN Diesel & Turbo, Norway; Serghei Nastas – MAN PrimeServ O&M Sales Manager; Dr. Stephan Timmermann – Member of Executive Board, MAN Diesel & Turbo; Stefan Eefting – Vice President, Head of MAN PrimeServ; (seated, from left) Lars-Heine Njåstad – Chief Procurement Officer, DOF; and Wayne Jones – Senior Vice President, Head of MAN PrimeServ Diesel

SMM signing ceremony commits DOF to five-year Framework Service Agreement At a signing ceremony at SMM, the international marine trade fair in Hamburg, MAN PrimeServ, MAN Diesel & Turbo’s service division, signed a service framework agreement with DOF ASA


Lloyd's Register Extends Heightened Attention Surveys

Lloyd’s Register (LR) has a longstanding ‘heightened attention’ initiative where surveyors attending on board LR classed ships give increased attention to areas where the most common PSC deficiencies are identified. LR announced it has decided to continue this heightened


New Containership Rules and Guidance from Lloyd’s Register

Decade long, and ongoing, research program has developed a clearer understanding of the forces imposed on ship structures.   Lloyd’s Register’s updated Containership Rules came into effect in July 2014 and these new rules are supported by Lloyd’s Register ShipRight


Nordex Wins Turkish Turbine Contract

Turbine

  Nordex has received a further contract from the Turkish customer Erdem Holding. The manufacturer will deliver of 20 N117/2400 turbines for the “Bagarasi” wind farm. The order also includes a premium-service contract for a minimum period of five years.  


Bay Diesel Wins NSWG Maintenance Deal

Photo courtesy of Bay Diesel

Bay Diesel was awarded a five-year contract with the Naval Special Warfare Group (NSWG). The NSWG has two teams, one based on the U.S. East Coast and the other on the West Coast. Bay Diesel will work with the East Coast team located in Norfolk, Va


Ship Repair Specialist Goris to Join ASRY

Jos Goris

New Operations General Manager, Jos Goris, to bring 20 years of experience with top firms including Damen, Maersk and Shell. ASRY, a ship and rig repair yard in the Arabian Gulf, has appointed Jos Goris as the new General Manager of the Operations division, effective October 1


Suez Canal 5-Year Investment Promises 12%

Suez Canal transit: File photo

Banque du Caire received Suez Canal investment certificates on Tuesday, according to an official source at the bank, and the certificates will probably be available for the public by Thursday or at the beginning of the next week, reports 'Daily News Egypt'.


Wärtsilä Signs Harvey Gulf OSV Maintenance Agreement

Harvey Gulf LNG fueled OSV: Photo Wärtsilä

Wärtsilä says it has signed a long-term Technical Management Agreement with Harvey Gulf International Marine LLC (Harvey Gulf). This five-year agreement covers Condition Based Maintenance & Dynamic Maintenance Planning for 8 offshore supply and multi-purpose support vessels – 6


Hyde Marine to Display Ballast Water Tech at SMM

Hyde GUARDIAN Gold BWTS

Hyde Marine, Inc., a ballast water treatment technology company, will showcase its Hyde GUARDIAN Gold HG250G Ballast Water Treatment System (BWTS) at the upcoming Shipbuilding, Machinery, & Marine Technology (SMM) International Trade Fair, September 9-12, 2014, in Hamburg, Germany.


CEVA Expanding Presence in Southern California

  CEVA Logistics, one of the world’s leading supply chain management companies, today announced plans to expand its presence in the San Diego market with a new Freight Management and Logistics facility totaling 125,000 sq. ft. (11,612 sqm.) and 23 dock doors.


Trojan Marinex BWTS Earns USCG AMS Acceptance

Trojan Marinex BWT - 250 Front.jpg

Trojan Marinex ballast water treatment system receives U.S. Coast Guard AMS acceptance for all water qualities Trojan Technologies’ Trojan Marinex ballast water treatment (BWT) product suite is one of the few to receive United States Coast Guard (USCG) Alternate Management System (AMS)


KNOT Purchases 3 Shuttle Tankers from J. Lauritzen

Shuttle Tanker

  Knutsen NYK Offshore Tankers AS (KNOT; headquarters: Haugesund, Norway), of which NYK has a 50 percent share, has officially reached an agreement with J. Lauritzen A/S (headquarters: Copenhagen, Denmark) to purchase its three shuttle tankers.*  






 
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