Teekay Sign Yamal Charter for Newbuild
Teekay LNG Partners L.P. has entered into a 15-year time-charter contract with the Yamal LNG project, sponsored by Novatek OAO, Total SA, China National Petroleum Corporation and Silk Road Fund, to provide Yamal LNG with conventional liquefied natural gas (LNG) transportation services. Yamal LNG is scheduled to commence production in 2017. The fixed-rate time-charter contract will be serviced by one of Teekay LNG's previously unchartered 174,000 cubic meter MEGI LNG carrier newbuildings that is scheduled for delivery in early-2019. "We are pleased that our commercial team has secured this new 15-year charter contract which expands our service offering to the now fully-financed Yamal LNG project and reduces our uncommitted newbuildings to only one vessel…
TCS Charters CWind Crew Transfer Vessel
Transmission Capital Services (TCS) has chartered one of CWind’s crew transfer vessels (CTV) on a five-year contract to support works at several of their offshore substations in the U.K. CWind, a provider of services to the offshore wind industry, said it is using one of its MPC19 resin infused composite catamarans to provide the crew transfer services. CWind announced in February this year that it had won a 20-year contract from TC Westermost Rough OFTO Limited, one of the OFTOs managed by TCS, to maintain the secondary mechanical and electrical systems of both the offshore and onshore substations at the Westermost Rough project. The earlier contract covered all routine inspection, diagnostics and planned maintenance work, as well as a first response service and offshore transport.
Teekay Offshore Bags North Sea Shuttle Tanker Contracts
Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO) announced today that it has been awarded new three-year shuttle tanker contracts of affreightment (CoA), plus extension options, with BP plc, Royal Dutch Shell and OMV Group, to transport the oil produced from the new Glen Lyon FPSO which is part of the Quad204 development located west of Shetland in the North Sea. The CoAs are expected to commence in the first half of 2017 with the requirement for approximately two shuttle tankers.
The Bulkcarrier Orderbook: Long Story, Short Tale?
Depressed dry bulk market conditions have put severe financial pressure on owners in recent times, triggering a slump in bulkcarrier contracting, observes Clarksons Research. This has helped drive a significant contraction in the bulkcarrier orderbook, which hit a nine year low at the start of September. A dearth in ordering has seen the bulkcarrier orderbook shrink fairly consistently since mid-2014. By September 2016, the bulker orderbook had shrunk to 108.4m dwt, down 19% since the start of the year. This was equivalent to 13.8% of the fleet, down from 17.2% at the start of 2016.
Topaz Secures Kazakhstan Contracts
Topaz Energy and Marine said it has secured contracts in connection with the development of the Tengiz oilfield in Kazakhstan during 2016. The two contract wins announced in the second and third quarter together represent revenue of more than $500 million. The two contracts bring Topaz’s backlog to approximately $1.6 billion. Under the terms of the main contract awarded by Tengizchevroil (TCO) to a consortium comprising Topaz and Blue Water Shipping A/S, Topaz will commission the construction of 15 Module Carrying Vessels (MCVs).
US West Coast Dockworkers, Shippers to Talk Contract Extension
Major cargo shippers and the union representing dockworkers at 29 U.S. West Coast ports have agreed to talks on a possible extension of their current contract, which is set to expire in mid-2019, the two sides said in a joint statement on Tuesday. Negotiators for the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union tentatively plan to meet on Nov. 1-2 to discuss the proposal, which comes about 19 months after a contract settlement that capped months of labor strife and shipping disruptions at the ports.
Two VARD Module Carrier for Topaz Energy and Marine
Vard Holdings Limited has secured a contract for the design and construction of two additional Module Carrier Vessels for Topaz Energy and Marine (“Topaz”). The vessels, of VARD 9 21 design and measuring 123 by 16.5 meters, are sister ships of a series of 15 identical Module Carrier Vessels previously contracted by Topaz for delivery from VARD’s shipyards in Tulcea and Braila in Romania, and Vung Tau in Vietnam. They will be operated by Topaz through a consortium led by Blue Water Shipping. One of the additional vessels will be built at Vard Braila and one at Vard Vung Tau.
Siemens Bags Electric Ferry Propulsion Contract
Siemens said it has secured a contract to supply propulsion systems for two new The all-electric battery ferries to be operated by Fjord1 on the E39 Anda-Lote route on the west coast of Norway. Both vessels will have a cargo capacity of 120 cars, 12 trailers and 349 passengers. Operation on the 2.4 kilometer-long route will start in January 2018. With this contract, the first four battery-driven ferries in the world will run on technology developed and manufactured by Siemens, the company noted.
Newbuild Contracts at Lowest Level in 20 Years -BIMCO
Shipyards have become the next victim of the deteriorating conditions in the dry bulk, container and offshore markets as 2016 looks to set the record for the lowest newbuilding contracts in more than 20 years, according to international shipping association Baltic and International Maritime Council (BIMCO). After a decline from 2010 to 2012, shipbuilding had a rebound in 2013 and was expected to level out over the next few years. The reality was a slight decline in 2014 and 2015, but still high levels of contracting measured by compensated gross tonnage (CGT).
Egypt Cancels Ergot Zero-tolerance Policy for Wheat
Egypt has reversed a controversial zero-tolerance policy on ergot fungus in wheat, the cabinet said on Wednesday, after receiving no offers in the previous three international tenders. The government is reinstating the 0.05 percent international standard which will apply to all outstanding and future wheat contracts. It will contract an international firm to conduct ergot inspections on wheat shipments, it said in a statement. The zero-tolerance policy had led to the suspension of 540,000 tonnes of wheat shipments, the government said. Egypt is the world's largest importer of wheat. (Writing by Ahmed Aboulenein)
Vard Electro Bags Contract in India
Vard Electro AS, a subsidiary of Vard Holdings Limited, has secured a new contract for the delivery of an equipment and electrical installation package to Cochin Shipyard Ltd. for a vessel under construction for the Government of India. Contracted by the yard in August 2015 and expected to become operational in 2018, the vessel with a length of approximately 120 meters will be equipped with several of VARD’s SeaQ products and systems. The contract includes engineering to support the shipyard in the approvals process, delivery of a SeaQ Electric Propulsion and Integrated Automation System (IAS) package, SeaQ Bridge systems, complete generator sets, and the complete electrical installation on board the vessel. The value of the contract is approximately 150 MNOK.
Australia Names Lockheed Martin as Weapons System Provider for Submarines
Australia has selected U.S. defence company Lockheed Martin Corp as its preferred bidder to supply the combat system for its new $38 billion fleet of submarines, the country's defence industry minister said on Friday. Lockheed Martin beat out competition from U.S. rival Raytheon Co, which built the system for Australia's existing Collins-class submarines. Australia chose French naval contractor DCNS Group in April to build 12 new submarines in a deal worth A$50 billion ($38 billion) - one of the world's most lucrative defence contacts.
Global Spill Response Contract Sparks Interest
The ISCO-BIMCO spill response contract was well received at the ACI Maritime Salvage and Casualty Response Conference that took place in London last week. The contract is still under development, but is expected to be published towards the end of this year. Grant Hunter, BIMCO’s Chief Officer Legal and Contractual Affairs, who spoke at the conference said:“There was an encouraging level of interest from the conference participants in the new spill contract and its aims and objectives.
MV WERFTEN Pumps €75 Mln into Rostock Yard
Announcing further investments into its shipyards, MV WERFTEN has today signed three contracts for the investment program for its Rostock yard, including a purchasing contract for a new thin-plate laser panel line with welding and production automation specialist Pemamek, the construction of a new hall with engineering company Inros Lackner and design services with service engineer Warnow Design. “This investment clearly indicates our long-term commitment to our yards and our plans to make MV WERFTEN one of the world’s most modern and efficient cruise shipbuilders…
FMC Collects $338,000 In Penalty Payments
Federal Maritime Commission Chairman Mario Cordero announced that the Commission has completed compromise agreements recovering a total of $338,000 in civil penalties. The agreements were reached with one vessel-operating common carrier and six ocean transportation intermediaries (both non-vessel-operating common carriers and ocean freight forwarders). The agreed-to penalties resulted from investigations conducted by the Commission’s Area Representatives in Houston, Seattle, South Florida, and New York, and by Washington D.C. headquarters staff.
An Introduction To Offshore Project CAPEX
Two high-level indicators of vessel and structure demand in the offshore sector are energy prices and oil company exploration & production (E&P) spending, says Clarksons Research. A third, slightly more specific indicator is estimated offshore project capital expenditure, or CAPEX. While this metric does not capture demand arising from, for example, offshore exploration campaigns, it can be a key proxy for demand resulting from offshore engineering procurement and construction (EPC) activity.
Chemgas Shipping Inks Maintenance Deal with Alphatron
Alphatron Marine has signed a premium member contract with Chemgas Shipping covering eight gas carriers. The Gas Carriers are fitted mainly with bridge equipment which Alphatron Marine has many years of experience of installing and also supporting these and other high tech navigation and communication equipment onboard. The contract also embraces equipment and services that is subjected to mandatory annual certifications and inspections but also life cycle support and a preferred partner service is included.
Gulftainer Mulls Brazil Divestment
Sharjah-based port operator Gulftainer is considering pulling out of Brazil where it operates a port on the country’s northeastern coast, Gulf News reported quoting chief executive Flemming Dalgaard. The company will make a decision before the end of the year, Dalgaard said. Gulftainer, 50 per cent owned by conglomerate Crescent Enterprises, was awarded an operator certificate for Brazil’s Recife port in 2011. Few months ago, Daalgard stated that the port was “not performing as would like it to” and that there had been no decision at the time on whether it should withdraw.
U.S. Coast Guard Awards ESG with Phase II OPC Contract
The U.S. Coast Guard awarded a contract to Eastern Shipbuilding Group, Inc., of Panama City, Florida, Thursday for the production of the lead Offshore Patrol Cutter (OPC) and up to eight follow-on cutters. The total award was valued at $110.29 million. The contract has a potential value of $2.38 billion with options to produce nine cutters. The OPC acquisition will replace the service’s aging fleet of medium endurance cutters, some that are in excess of 50 years old. Each OPC will feature a flight deck and advanced command…
ALMACO to Build Cabins, Galleys for Rhine Class Ships
German shipyard MV WERFTEN has awarded ALMACO Group a contract to build the luxury suites and galley areas for Crystal River Cruises’ four Rhine Class luxury river yachts, which will be delivered in 2017 and 2018 from Wismar. The scope of work involves a total of 220 luxury suites and corresponding corridors as well as the visual turnkey delivery of the main galley and pantries, including galley equipment and lining for all four river ships. ALMACO previously refurbished the crew accommodation and catering areas onboard Crystal River Cruises’ Crystal Mozart earlier in 2016…
Toll to Build Two New Ships
Toll Group announced it is investing $170 million to build two new ships to support trade between Victoria and Tasmania and to meet the demands of continued growth. The new, purpose-built ships, operating between Burnie, Tasmania and Melbourne, Victoria, will provide 40 per cent more freight capacity, more opportunities to transport refrigerated freight for Tasmania’s growing chilled export market and more flexibility for customer deliveries. The new vessels will be available in late 2018 and will replace Toll’s existing ships, continuing to operate overnight services, six days per week.
NASSCO Delivers Fourth Product Tanker to APT
General Dynamics NASSCO has delivered Bay State, the fourth of five new Jones Act ECO Class product carriers under contract with American Petroleum Tankers (APT). The vessel was delivered on Monday, September 26 during a signing ceremony at the NASSCO shipyard in San Diego. The ECO Class design Bay State is a 610-foot-long, 50,000 deadweight-ton, LNG-conversion-ready product tanker with a 330,000 barrel cargo capacity. The ship’s construction began in May 2015. “The Bay State is the product of world-leading design…
Rolls-Royce to Equip Five New Cruise Ships
Rolls-Royce has announced a new deal to provide propulsion and deck machinery to five cruise ships being built by Fincantieri at their Monfalcone and Ancona Shipyards in Italy. The firm orders are to supply a Promas system, deck machinery and steering gear to two vessels being built for Viking Ocean Cruises. The contract also covers steering gear and deck machinery for a further vessel under construction for Regent Seven Seas Cruises. Steering gear is also being provided for two vessels being built for Princess.