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
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.
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.
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
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.
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
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
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
The Bureau of Ocean Energy Management (BOEM) will hold a series of public scoping meetings to gather information for an environmental impact statement (EIS) for the proposed oil and gas lease sales in Gulf of Mexico’s Eastern Planning Area offshore Florida and Alabama. This EIS is for proposed Lease Sales 225 and 226, which are included in the Proposed Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017.
Navios Maritime Holdings Inc. has secured new time charters for four vessels.Navios TBN Capesize -- Ten-Year Charter Navios TBN Capesize, a 172,000 dwt new building vessel scheduled to deliver in the fourth quarter of 2009, has been chartered-out for ten years commencing upon delivery. The ten-year, net daily charter-out rate will be $41,325 per day. Navios TBN Capesize -- Five-Year Charter Navios TBN Capesize, another 172
With its latest offering, Videotel said now provides a more extensive portfolio of training for the LNG sector. Working with experts across the globe – BP Shipping, Shell, Maersk and SIGTTO, among others – the company said it has created a package of training covering the essentials
BMT SMART Ltd. (BMT), a subsidiary of BMT Group Ltd., an international maritime design, engineering and risk management consultancy, announced the appointment of Laura McKelvie as Product Manager. A University of Southampton graduate in Naval Architecture
The offshore construction vessel Polar Onyx was delivered on March 4, 2014 from Ulstein Verft to GC Rieber Shipping, as the latest addition to their growing investments into the subsea segment. The vessel’s first assignment will be to work for deepwater projects serving as pipelay support
American independently owned oceangoing petroleum barge company, Bouchard Transportation, has promoted Captain Robert W. Glas to Vice-President of Regulatory Affairs. Captain Glas will interact with regulatory committees and trade organizations on behalf of Bouchard Transportation Co, Inc
Oil and gas industry body, the Intervention & Coiled Tubing Association (ICoTA) European Chapter, has appointed Former vice-chair Kelly Murray as the new chair and vice-chair. Murray will be the first women to take the helm as chair of the organization in the chapter’s 20-year history
Reuters - Transocean Ltd, owner of the world's largest offshore drilling fleet, said it could take up to 18-24 months for demand to recover as customers delay drilling programs. Demand for offshore rigs is tapering as major oil companies trim exploration and production budgets in the face of
Kongsberg Maritime has delivered its 50th HAIN (Hydro Acoustic aided Inertial Navigation) Reference System, to long-time HAIN user, Ocean Rig. HAIN significantly improves reference data accuracy and update rate sent to Dynamic Positioning (DP) systems to support safer
Due to new U.S. regulations, almost all ships exceeding 24 meters in length which are operating in U.S. coastal waters are confronted with much stricter environmental protection requirements. The Vessel General Permit (VGP), in effect since December 19, 2013
CAMAC Energy Inc. announced that a long-term contract has been signed for the floating production storage and offloading vessel (FPSO) Armada Perdana. The contract provides for an initial term of five years beginning January 1, 2014, with an automatic extension for an additional two years unless
The Netherlands-based Fugro Subsea Services inform they have been awarded a long term contract by Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited (Shell) for the provision of underwater inspection, maintenance and repair (IMR) services at their subsea infrastructure across Malaysia.
$136 billion expenditures forecast for Floating Production Unit purchases over the next five years Today, 319 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 74% of systems on order.
Heavy-duty and commercial vessels demand durable lighting capable of withstanding punishing conditions. The new HypaLUME LED floodlight from Hella marine is specifically designed to meet the rigors of any marine work environment. The most powerful floodlight ever offered by Hella
The Marseilles FOS port authority’s supervisory board has backed a French transport ministry proposal nominating Port of Dunkirk head Christine Cabau Woehrel as the new CEO in Marseilles. There is also a new chairman and deputy chairperson.
Ince & Co. partner Jonathan Elvey, who was head of the law firm's Piraeus office, has returned to the London office after spending 17 years advising clients at the heart of the Greek shipping market as head of the Piraeus office. Partner Nick Shepherd
Transas Group has announced today the appointment of Andrey Belentiev as the Group's Director of the Marine Business Unit. Andrey Belentiev, former Managing Director of Transas (JSC), Russian marine business entity, is now in charge of the Transas marine business worldwide.