Custom Ro-Pax Delivered in China
The first Ro-Pax cruiser designed and built in China for the Chinese market has entered into service on January 1, 2015. The ship, named San sha No. 1, can carry wheeled cargo, containers, trailers as well as passengers, and was delivered to China's southernmost city Sansha in Hainan Province to tackle the city's lack of transportation capacity. The vessel is a conventional propulsion Ro-Ro Passenger vessel designed to transport vehicle and containers on a single cargo deck in compliance with Chinese Classification Society Rules and Chinese Flag regulations.
Typhoon Slams into Southern China, One Dead
A super typhoon slammed into China on Friday killing one person, as the government ordered an all-out effort to prevent loss of life from a storm that has already killed at least 64 people in the Philippines. Typhoon Rammasun, with winds of up to 180 kph (112 mph), made landfall at Wenchang city on south China's island province of Hainan on Friday afternoon, the National Meteorological Center said on its website. The typhoon, which is shaping up to be the strongest to hit Hainan in more than 40 years, will bring heavy rain throughout the weekend before moving southwest and weakening on Monday, the Xinhua state news agency said. By mid-evening on Friday, the storm had made landfall in Guangdong province on the mainland. It is likely to hit the southwestern Guangxi region late on Friday.
CNOOC: Two New Oil Fields Start Production
Hong Kong - CNOOC Limited (NYSE: CEO, SEHK: 00883) announced that, Wenchang 19-1 North and Weizhou 12-8 West oil fields have recently commenced production. Wenchang 19-1 North oil field is located in the western Pearl River Mouth Basin with an average water depth of about 120-130 meters. This oil field has 3 producing wells and is expected to reach its peak production within the year. Wenchang 19-1 North is an independent oil field in which the Company holds 100% interest and acts as the Operator. Weizhou 12-8 West oil field is located in Beibu Gulf Basin in the southwest part of the South China Sea with an average water depth of about 34meters. This oil field has 5 producing wells and is expected to reach its peak production within the year.
Husky Energy Increases Production
Husky Energy Inc. reported net earnings of $126 million ($0.29 per share) in the first quarter of 2002, compared with $192 million ($0.42 per share) in the same quarter of 2001. Cash flow from operations in the same period was $373 million ($0.87 per share), down from $620 million ($1.46 per share) in the first quarter of 2001. Results for 2001 have been restated to reflect the adoption of the recommendations of the Canadian Institute of Chartered Accountants on foreign currency translation. lower natural gas prices in the quarter. heavy/light crude oil differentials and a lower income tax provision. “The first quarter of 2002 was significant for Husky. announced in March,” said John C.S. Lau, President & Chief Executive Officer.
Husky Begins Oil Production and Expands Activities
Husky Energy Inc. announced that it has signed petroleum contracts for two additional exploration leases in the South China Sea. Both are located in the Beibu Gulf, north of Hainan Island and within 80 kilometres of the Weizhou oil fields. The agreement includes exploration lease 23/15, which is 1,327 sq. kilometres, and exploration lease 23/20, which is 1,543-sq. kilometres. A single exploration well is required in each contract area in the first three years of the contract. Husky also reported that production from the Wenchang 13/1 and 13/2 oil fields in the South China Sea has exceeded 60,000 barrels of oil per day (bopd). Production commenced in July 2002 and estimated peak production was 50,000 bopd.
