Marine Link
Sunday, February 26, 2017

Teekay LNG Reports Profit in 4Q

Phto: Teekay Corporation

Teekay LNG Partners has reported GAAP net income attributable to the partners and preferred unitholders of $84.4 million and adjusted net income attributable to the partners and preferred unitholders of $29.0 million in the fourth quarter of 2016. “During the fourth quarter, the partnership continued to generate stable cash flows supported by a diversified portfolio of long-term contracts totaling approximately USD 12 billion in forward, contracted revenue and with a weighted average remaining contract length of 13 years,” Mark Kremin, President and CEO of Teekay Gas Group, noted.

USCG Awards Polar Icebreaker Contracts

U.S. Coast Guard Cutter Polar Star, a heavy icebreaker homeported in Seattle, Washington, rests in the ice as the motor vessel Ocean Giant departs from the National Science Foundation’s McMurdo Station, Feb. 1, 2017. One of the primary responsibilities of the Polar Star’s crew is to provide an escort for the Ocean Giant through the frozen Ross Sea off of Antarctica. (U.S. Coast Guard photo by Chief Petty Officer David Mosley)

The U.S. Coast Guard awarded five firm fixed-price contracts for heavy polar icebreaker design studies and analysis Wednesday. The contracts were awarded to the following recipients: Bollinger Shipyards, LLC, Lockport, Louisiana; Fincantieri Marine Group, LLC, Washington, District of Columbia; General Dynamics/National Steel and Shipbuilding Company, San Diego, California; Huntington Ingalls, Inc., Pascagoula, Mississippi; and VT Halter Marine, Inc., Pascagoula, Mississippi. The combined total value of the awards is approximately $20 million.

"K" Line Joins Indian National Shipowner's Association

Image: K"Line (India) Private Limited

"K" Line (India) Shipping Private Ltd (KLISP), affiliated company of Kawasaki Kisen Kaisha Ltd., joined Indian National Shipowner's Association(INSA) at the end of January 2017. KLISP was established in 2014 and actively participates in Indian Coastal Trade as well as International Trade business as an Indian Shipping company. In the same year, KLISP successfully entered into a long-term CVC contract with an Indian Charterer. From December 2016, KLISP acquired ownership of an Indian flag vessel…

Statoil Awards ERRV Contracts

Stril Poseidon Photo Statoil

Statoil awards Simon Møkster Shipping AS contracts for three emergency response and rescue vessels (ERRV), and Havila Shipping ASA for one ERRV. The contacts have a total value, included options, of NOK 2.7 billion. The vessels will be part of Statoil’s area-wide emergency response on the Norwegian continental shelf (NCS). The emergency response vessels play an important role in addressing government authorities’ and the company’s own requirements for rescue, hospital, fire-fighting, emergency towing and oil spill preparedness.

Vigor to Build 2 More San Francisco Ferries

Photo: Vigor

Vigor said it was awarded the contract to build two additional ferries for WETA (the Water Emergency Transportation Authority) in San Francisco, Calif. The shipbuilder started constructing the first two WETA ferries in this class in spring 2015, said Tim Kolb, General Manager of Vigor Ballard. Under the latest contract, the two new hulls will be constructed at Vigor Ballard (formerly Kvichak) and the superstructure at Vigor’s Harbor Island shipyard. Designed by Incat Crowther…

Austal completes DDR for Pacific Patrol Boat Replacement Project

Austal’s Pacific Patrol Boat Replacement Project is on schedule, with Detailed Design Review completed on time and in accordance with the Construction of the 19 steel vessels is due to commence, on schedule Photo Austal

Austal has successfully completed the Detailed Design Review (DDR) for the A$306 million Pacific Patrol Boat Replacement (PPB-R) Project on time and in accordance with the contracted schedule. A key element of the Commonwealth’s continuous naval shipbuilding strategy, the PPB-R Project is contributing to the growth of Australia’s sovereign shipbuilding capability in the lead up to the Offshore Patrol Vessel and Future Frigate programs for the Royal Australian Navy, due to commence in 2018 and 2020, respectively.

iSURVEY Bags rig positioning, surveying contract with Shell

Andrew McMurtrie, managing director Photo iSURVEY

iSURVEY has secured a non exclusive call-off contract with Shell UK Ltd, Shell NAM, Norske Shell and Shell E&P Ireland for the provision of rig positioning and surveying services. With an effective date of 1 January 2017, the three year contract, which has the option of up to two, one year extensions, will see iSURVEY provide non exclusive rig and surface positioning services, subsurface positioning and dimensional control and platform surveys to Shell’s mobile offshore drilling units.

Allseas Bags Nord Stream 2 Project Contract

Photo: Nord Stream 2

Following an international tender process, Nord Stream 2 AG have awarded a contract for offshore pipelay of the Nord Stream 2 natural gas pipeline through the Baltic Sea to Allseas. The company will undertake offshore pipelay works for both lines in 2018 and 2019. Allseas will use three pipelaying vessels – Pioneering Spirit, Solitaire and Audacia. The utilisation of the dynamically-positioned pipelay vessels, which are able to carry out precise maneuvering without anchors, should ensure additional environmental protection and safety in the congested Baltic Sea.

Euroseas Reports Q4 Loss

Pic: Euroseas Ltd

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, reported a total net revenues of $7.3 million for the three month period ended December 31, 2016. Net loss attributable to common shareholders of $18.1 million or $2.17 loss per share basic and diluted. This loss includes, amongst other items, a $0.4 million of dividend on Series B Preferred Shares, a $5.9 million loss on write-down of M/V Eleni which was held for sale…

VBMS awarded EnBW Hohe See cabling contract

Photo Royal Boskalis Westminster N.V

Royal Boskalis Westminster N.V. (Boskalis) announces that its subsidiary VBMS has been awarded an inter-array cabling contract with a value of approximately EUR 80 million by EnBW Hohe See GmbH & Co.KG for the 500 MW EnBW Hohe See Offshore Wind Farm. The contract includes the supply, installation and burial as well as termination and testing of seventy nine (79) 33kV inter-array cables. The project execution will commence in 2017 with cable installation activities scheduled for 2018 and 2019.

Transocean's contract backlog $11.3 Bln on February 9

Ultra-Deepwater Rig Photo Transocean Ltd

Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of and contract information for the company's fleet of offshore drilling rigs. As of February 9, 2017, the company's contract backlog was $11.3 billion. On December 31, 2016, the newbuild ultra-deepwater drillship Deepwater Conqueror commenced operations on its 5-year contract in the U.S. Gulf of Mexico at a dayrate of $589,000. The customer has elected to exercise its contractual option to terminate the contract for the ultra-deepwater drillship Deepwater Asgard effective January 2017.

Singapore Fuel Oil Trading Heats Up

Singapore fuel oil trading volumes have soared after the 380-cst front-month time spreads widened by around $1 per tonne from the previous day's close, in what could develop into an aggressive trade strategy that occasionally rattles this market. The 380-cst March/April time spreads on the Intercontinental Exchange (ICE) saw about 700,000 tonnes in contracts trade after physical trading in the S&P Global Platts Market-on-Close (MOC) price assessments concluded at 0830 GMT on Tuesday. The flurry took the spreads to about $1.70 a tonne in post-European trade by 0400 GMT on Wednesday, from around plus 70 cents a tonne previously. Traders…

World’s Largest Plug-in Hybrid Vessel Ordered

Image: Ulstein

Color Line and Ulstein sign a firm contract on construction of the world’s largest plug-in hybrid vessel. Ulstein said it has won a contract to build Color Line’s new hybrid passenger vessel to service Sandefjord – Strømstad from summer 2019. The ship will be constructed at Ulstein Verft in Norway. “It is very gratifying that the Norwegian shipbuilding industry has proven its competitiveness internationally, and that Color Line contributes to the further development of the Norwegian maritime industry,” said CEO Trond Kleivdal at Color Line.

Pronomar Delivers for Bernard Schulte’s New SOVs

Windea La Cour (Photo: Pronomar)

Pronomar said it has provided drying systems to Bernard Schulte Ship Management, for the company’s two new service operations vessels (SOVs), Windea La Cour and another to-be-named, working under contract for SIEMENS in the 600 megawatt Gemini wind farm in the Dutch part of the North Sea. The vessels, constructed at the Ulstein Verft shipyard in Norway, have accommodation for 60 persons in single cabins, of which 40 cabins are dedicated to technicians. The drying systems provide fast and gentle drying of clothing and boots and help create a better…

First Ship Set to Enter BAE Systems’ New Dry Dock

Photo: BAE Systems

BAE Systems will dock the first ship in its new floating dry dock, Pride of California, on Thursday, February 23. The docking of the San Diego-based amphibious transport dock ship USS New Orleans (LPD 18) is expected to take up to five hours. The docking was originally planned for Wednesday, February 22, but was pushed back due to high wind conditions in San Diego. At 950 feet long and capable of lifting 55,000 long tons, BAE Systems’ new Pride of California dry dock is the largest floating dry dock in California.

Shell, Pavilion Gas to Supply Singapore with LNG

File Image: an LNG carrier (CREDIT: GAC)

Shell and Pavilion Gas will start supplying Singapore with liquefied natural gas (LNG) later in 2017 under contracts awarded last year, the city-state's trade minister said on Tuesday.   "We will also allow interested parties to import spot LNG in the second half of 2017, up to 10 percent of the total gas imports in Singapore," said S Iswaran.   Reporting by Mark Tay  

Diana Shipping Extends SwissMarine Charter

M/V Aliki. Photo: Diana Shipping Inc.

Diana Shipping , through a separate wholly-owned subsidiary, has agreed to extend the present time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Aliki. The global shipping company specializing in the ownership of dry bulk vessels extended the contract  for a period of about eleven (11) months to maximum fourteen (14) months. The gross charter rate is US$10,300 per day, minus a 5% commission paid to third parties. The new charter period is expected to commence on February 13, 2017.

Marine Jet Power Wins Korean Coast Guard Contracts

Photo: Maritne Jet Power

Marine Jet Power has been awarded two new contracts to supply waterjets for another eight units 500T Patrol Vessels for the Korean Coast Guard: five vessels to be built by Hanjin Heavy Industries & Construction and three vessels to be built by Kangnam Corporation. The propulsion system comprises a MJP 950 double drive and MJP 750 double booster waterjets. Powered by four diesel engines at a total of 14 MW the top speed is over 35 knots. The eight new vessels will be delivered during 2018, continuing the existing 500T-program and extending the series to now comprise a total of 23 vessels.

Vard design Survey vessel for South African Navy

Vard Marine 9 105 HydrographicOceanographic Survey vessel design Photo Vard Marine

Offering the Vard Marine 9 105 Hydrographic/Oceanographic Survey vessel design, Southern African Shipyards, located in Durban, S.A. has been selected as the preferred bidder for the South African Navy Project “Hotel” program. This is a continued success for Vard Marine in designing science vessels. Vard Marine partnered with the shipyard to develop a design for the program and the final configuration results in a PC7 ice strengthened vessel of 95M in length with approximately 12.24MW installed diesel electric power plant and a maximum speed of 18 knots.

Boskalis JV wins Santos Port dredging contract

Construction and maintenance of port Photo by Royal Boskalis Westminster N.V.

Royal Boskalis Westminster N.V. (Boskalis) and joint venture partner Van Oord have been awarded a contract by The Brazilian Ministry of Transport, Ports and Civil Aviation for the capital and maintenance dredging of the port of Santos, the largest port of South America. The contract carries a total value for the joint venture of approximately EUR 110 million. In the coming months, studies will be undertaken and the design of the navigation channels and berths of the port will be reviewed.

DOF Subsea wins three year IMR agreement

The HUGIN 1000 Image: DOF ASA

In Asia Pacific, DOF Subsea has been awarded a 3-year IMR frame agreement with one of the major oil and gas companies in the region. DOF Subsea has recently secured a Safety Case for Geoholm, and the vessel will be available in the Asia Pacific region from the beginning of Q2 2017. In a statement, CEO Mons S. Aase said, "I am very pleased with the performance of the team in Perth. Mons added: "Including Geoholm, we will have 5 advanced subsea vessels in the region, with an average age of 6 years.

Kelvin Hughes radar for RN's River-class OPVs

A world leader in the design and manufacture of navigation and security surveillance radar, Kelvin Hughes announced in April 2015 that it had been selected to supply its SharpEye systems for the new Batch 2 River-class offshore patrol vessels (OPVs) - HMS Forth, HMS Medway and HMS Trent. Today, the company is delighted to announce that it will also be supplying the same industry-leading radar equipment for the two latest Batch 2 ships – HMS Tamar and HMS Spey. Each ship will be equipped with a SharpEye I-Band radar for helicopter control and navigation as well as an E/F-Band SharpEye™ radar for navigation and collision avoidance. In addition, Kelvin Hughes will be supplying its ARPA widescreen radar display for all of the Batch 2 OPVs.

HMM Acquires Four Terminals From Bankrupted Hanjin

Phto: Hyundai Merchant Marine

Hyundai Merchant Marine (HMM) announced that it has entered into a contract with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s 100% stake in terminals in Tokyo and Kaohsiung. Hanjin Pacific Corporation (HPC) which is owned by Hanjin Shipping (60%) and Marine Terminals Investment Limited (40%) operates terminals at ports in Japan (Tokyo) and Taiwan (Kaohsiung). Total acquisition price is about KRW 15 billion ($13.15 million) including a purchase and security deposit on the lease of the Tokyo port.

Maritime Reporter Magazine Cover Feb 2017 - The Cruise Industry Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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