James Fisher, Graig Debut New Ulstein Twin X-Stern SOV
James Fisher and Sons plc and Graig Shipping PLC unveiled a new service operation vessel (SOV) design concept, the Ulstein Twin X-Stern named ULSTEIN SX221 Diamond SOV to support the UK’s target of 50GW of offshore wind energy generation by 2030.The concept is the result of collaboration by the Diamond Consortium, a collaboration between James Fisher and Graig with support from DNV and design partner, Ulstein Design Solutions. The result will provide a future-proof design to address…
Liberian Registry, China Classification Society Sign MoU
The Liberian Registry has signed a framework cooperation Memorandum of Understanding (MoU) with the China Classification Society (CCS) as the latest step in its strategy to collaborate with long-term key industry stakeholders.Under the terms of the MoU, the Liberian Registry’s technical competence will be employed to help shipyards and shipowners improve their innovative strategies. The CCS MoU has a particular focus on innovation and technology within the international regulatory framework and maritime sector projects.
Keppel, Sembcorp Merger on the Cards ?
A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards, report local media quoting the Development Bank of Singapore (DBS). DBS said that with orders at a trough and expectations for only a modest recovery, a merger of Singapore's two major rigbuilders could create a global giant that is more competitive and resilient. “A merger could make sense to further streamline their operations, achieve cost synergies and eliminate competition in the medium term,” DBS said. The report analysed the possible scenarios for rationalization of the O&M assets involving Keppel, SCI, and its listed subsidiary Sembcorp Marine (SMM). The two companies were in similar talks back in 2001, but were unable to reach an agreement.
On Patrol with the U.S. Coast Guard
Building programs continue, spanning the full range of missions, despite budget concerns. Amidst all the talk of Beltway budget cutbacks and sequestration, the U.S. Coast Guard is quietly investing approximately $30 billion in major acquisition projects to modernize its physical assets. The process of recapitalizing these older and difficult-to-maintain assets has never been an easy task, and the Coast Guard has seen its share of bumps along the way. For example, the initially messy Deepwater debacle initially kicked off what has evolved into today’s more successful recapitalization process, now run by the Coast Guard’s Acquisition Directorate, which stood up in July 2007.
Bulk Market Pauses
Dry bulk rates may have eased back significantly in recent weeks but there is still plenty of positive sentiment on the future market. Many shipbrokers are describing today’s rather softer market as a correction to what had become a seriously overheated sector, with the cost of freight becoming itself a damaging factor in the world’s dry bulk trades. The pause in the market has led to a slackening in the pace of new contracting that, brokers say, may be no bad thing. Some owners had become so concerned by rapidly rising new ship prices that they were rushing in, whatever the price. That trend, at least for the moment, appears to have eased as owners have come to the conclusion that the wild rates of February and March were quite exceptional…
Kvaerner and Aker Join Forces in Shipbuilding
Kvaerner announced that it has agreed with Aker RGI Holding to establish a jointly owned shipbuilding management company. Together, the two groups own 12 shipyards in Europe, and one in the USA and Brazil. These yards have a total of some 13,500 employees with combined revenues of $2.2 billion. Kvaerner and RGI have on a number of previous occasions stated the intention to merge their respective shipbuilding operations in the future. The parties have, however, agreed to postpone such negotiations until a better assessment of the financial and operational issues have been concluded, and until such time as the value of the operations can be more precisely determined. that the value of their respective operations will increase through the establishment of a joint management company.
China's Shipyards to Double Capacity
According to a Bloomberg report, China's two largest shipyard groups plan to double capacity by 2010, aiming for the top spot in world shipbuilding. China State Shipbuilding Corp., the nation's biggest, will reportedly have a potential 12.3 million deadweight tons output by 2010 from 6.02 million last year. China Shipbuilding Industry Corp. will aim to double its annual capacity to 10 million deadweight tons. China has 24 percent of the global order book for new ships, South Korea has 33 percent, according to London-based shipbroker Clarkson Plc.
AKER FINNYARDS
Based in Rauma, Aker Finnyards recent history is indicative of the changes, which continue to sweep the Finnish maritime scene. Finnyards is owned 100 percent by Norwegian interests, part of Aker Yards, an international shipbuilding group comprising Aker Finnyards together with a German and two Norwegian shipyard groups. Aker Yards is owned by Aker RGI. Aker Finnyards' main activities are construction of specialized ships, vessels for oil and gas production and heavy offshore structures. While the shipyard's reign under Norwegian rule is relatively short, its experience and accrued expertise spans many decades and includes more than 1,500 ships built — both long series and extremely demanding one-offs.
