CMES Rides High on Hope
China Merchants Energy Shipping (CMES), a Chinese international oil tanker operator, projects doubled profit in the first half of 2015 from a year ago. The Shanghai-listed Chinese ship-owner predicted on Friday that its net profits attributable to its shareholders would rise 110-130 percent year on year in the first half of this year. It has reported an unaudited profit of RMB253.55m ($40.51m) in the January-June 2015 period.
Egyptian Vessel Sinks
Taba, an Egyptian ferry, carrying passengers, cargo and trucks, sank in the Red Sea early on Sunday, according to state-owned news agency MENA. The 6,600-gt Taba (built 1985) had capsized because the trucks on board the ship were parked mainly on one side, according to Abdel-Rehim Mostafa, spokesman for the Red Sea Ports Authority. Nine people suffered minor injuries, but all 37 people on board, including 27 crew members, were saved.
Shipping Gloomiest Since 2009
The shipping industry is the most pessimistic in six years about its prospects as a fleet surplus persists, according to a survey by law firm Norton Rose Fulbright, says a report in Reuters. The growing vessel glut is battering sentiment in the shipping industry at a time when players face risks to growth in Asia and turmoil in countries such as Greece. The annual survey by Norton Rose Fulbright reveals…
Possibly the Worst Quarter on Zero DSV Utilisation
According to a research note released today from UOB Kay Hian, Singapore offshore vessel operator Pacific Radiance achieved an ominous vessel utilization of 0% for its diving support vessel fleet in the second quarter of 2015. "OSV activities are recovering on more stable oil prices but E&P spending cuts are hampering a strong rebound. There is also 0 utilization for DSV segment in 2Q15," says the note.
Fund Targets Mols-Linien
The Danish equity fund Polaris makes a tender offer on all shares of the ferry operator Mols-Linien, which sails on routes Odden-Ebeltoft and Odden-Aarhus. Polaris offered to pay 34 Danish crowns a share, valuing the ferry operator at 482 million Danish crowns ($71.7 million). The private equity group has entered an agreement with Clipper Group A/S to acquire their stake of 29.95% in Mols-Linien for an undisclosed price.
South Korea Tops in Shipbuild Orders
South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., have secured the largest amount of new orders in the first six months of the year to retain the top slot, while the global shipbuilding industry saw new orders halve, the data compiled by global researcher Clarkson Research Services showed. The new shipbuilding orders around the globe in the first half of this year amounted to 13.28 million compensated gross tons (CGTs).
Port Lafito Officially Opens
GB Group, a diversified group of industrial and trading companies, has announced that Port Lafito, a world-class modern container port in Haiti, is open and operational. Port Lafito in Haiti officially opened on 2 July in a ceremony attended by the country’s president among other dignitaries. “Port Lafito will breathe new life into Haiti by creating new jobs, training for skilled labor, and encouraging foreign investment and development.
Viking O&M Secures Rig Contract from a Chinese Firm
Viking Offshore & Marine has secured a 48-month charter for a second land drilling rig system for US$31 million ($41.8 million). Viking’s subsidiary Viking LR2 will charter the 1,500-bhp train-type land rig and related drilling equipment system to a Chinese land rig specialist. It will be immediately deployed on a North African oilfield concession jointly owned by a South Asian energy operator and the local energy authority.
Indonesia Expects Total to Decide on Mahakam within days
French oil firm Total will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the country's energy minister said on Friday. From Jan. 1, 2018, state energy company Pertamina will take over as operator of Indonesia's top gas producing field from Total. But it is not yet clear how Total and other partner Japan's Inpex, will split the 30 percent stake that Indonesia has proposed they share.
Asia-N Europe Container Freight Rates Jumps 60%
Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters. It was the second consecutive week of rising freight rates on the world's busiest route. Container freight rates have so far increased in 5 weeks this year but fallen in 20 weeks.
Research Vessel Heincke: Serving Science for 25 years
7 July 2015. A quarter of a century old, with over 900,000 kilometres (488,842 nautical miles) logged and still on the cutting edge of science and technology: 8 July 2015 will mark the Research Vessel Heincke’s 25th “birthday”. Staff from the Alfred Wegener Institute, Helmholtz Centre for Polar and Marine Research (AWI), which operates the Heincke, take part in expeditions with the ship just as often as fellow researchers and students from Germany and abroad.
G6 Alliance Extends Asia – North America Service
In response to market demand, members of the G6 Alliance today announced the below enhancement to improve the Asia – North America (East Coast) trade. NYK will continue to make every effort to improve its quality and reliability to respond to the diversifying needs of customers. The AZX (Asia Suez Express) service will be upgraded to include an additional Halifax call. This move is expected to improve…
Water Conservation Measures at Panama Canal
The water levels at Gatun and Madden Lakes are currently well below the expected levels for this time of year. Based on a comprehensive analysis of historic data, both current and projected water utilization, as well as the estimated rainfall in the Canal watershed for the remainder of the rainy season, the Panama Canal has deemed it necessary to implement water conservation measures in order to reduce the possibility of draft restrictions in the near future. - Mazimization of tandem lockages.
Stena RoRo Charters Three Vessels
Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda. The configuration of the vessels is very flexible and they can thus be employed in both the Stena RoRo and the Stena Line networks. Three easy accessible RoRo decks enable fast turnaround in port and this, combined with their high service speed, satisfies the demand for punctual high-frequency service.
First Subsea Wet Gas Compressor Installed
After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Gullfaks C platform in the North Sea. In May and June Gullfaks subsea compressor project (GSC) completed successful structure and module installation campaigns for the subsea station. The compressors were installed at the end of June. Subsea wet gas compression at Gullfaks C will add 22 million barrels of oil equivalent…
Parkinson Retires from Sunderland Marine
Geoff Parkinson, chief executive officer of North P&I Club’s subsidiary Sunderland Marine, retired on 30 June 2015 following a period of ill health. Tom Rutter, head of the company’s aquaculture business, will continue as interim chief executive officer until a permanent appointment is made. Parkinson (60) led the international fishing vessels, small craft and aquaculture insurer for 19 years and played…
FORAN for Pertamina's Future Ships
FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System. PERTAMINA, a company based in Jakarta, Indonesia, signed a contract with SENER Ingeniería y Sistemas S.A. (SENER) for the use of the FORAN FVIEWER application in the coming years. FVIEWER is part of the FORAN System, developed by SENER…
AVEVA, DNV GL's Sesam Integration Cuts Cost
Integration of Aveva and DNV GL's Sesam Reduces Costs in Maritime and Offshore Engineering. Engineers designing ship hulls and offshore floaters can now save time…
Aberdeen Pupils Peek into Subsea Oil & Gas Technology
Pupils at an Aberdeen primary school were given a rare insight into the depths of the oil and gas industry’s subsea sector after getting to sit in the driving seat of a remotely-operated vehicle (ROV) simulator. The Tullos Primary visit to i-Tech was organised by EnQuest as part of the company’s ongoing commitment to encouraging youngsters to consider a career in the oil and gas industry. Around 20…
Drydocks World Completes World’s Largest Turret
Drydocks World the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors marked a major milestone in successfully completing the world’s largest turret mooring system with His Highness Sheikh Ahmed bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority and Chairman and Chief Executive, Emirates Airline and Group attending the sail-away and completion ceremony to celebrate the occasion.