Samsung Wins $1.26bln Contract from BP
Samsung Heavy Industries, South Korea's major shipyard, build a floating production unit for British oil multinational BP that will be used in offshore drilling in the Gulf of Mexico, says a report in Yonhap. The 1.5 trillion won ($1.26 billion) contract is the first for a floating oil production platform to be received by any of South Korea's big three shipbuilders in 18 months, according to Samsung Heavy.
Solstad Wins Contract with CUEL Thailand
Norway’s Solstad Offshore ASA has been been awarded a contract with CUEL Limited, Thailand for the derrick lay barge DLB Norce Endeavour in the Gulf of Thailand. According to the contract the 2011-built unit will be used for the provision of transportation and installation for Phase 4 of JDA Block B-17-01. The DLB Norce Endeavour will install 3 new wellhead platforms, 3 subsea pipelines and host tie…
Vallianz Shuts Singapore Yard
Singapore’s offshore-support vessel provider Vallianz Holdings has ceased operations at its shipyard in Singapore as part of efforts to streamline business operations amidst the severe industry downturn. At the end of 2016, the group has ceased operations at its shipyard in Singapore due to the industry slowdown and discontinuation of business with a key local customer, Vallianz said in a filing with the Singapore today (Jan 6).
Spot Box Rates Rise Above 5-Year Average
Spot container freight rates on the major East-West routes reached a 20-month high this week and have risen above the average of the last 5 years, said a report by Drewry. The latest weekly reading is $1,770/40ft container for the composite index, reflecting increases on individual lanes to $1,785 for the Rotterdam-New York index (up $4 this week), $2,210 for the Shanghai-Rotterdam index (up $257 this week) and $2,106 for the Shanghai-Los Angeles index (up $545 this week).
DryShips Expands to Gas Carrier Market with Four New VLGCs
DryShips Inc. has agreed to enter into a "zero cost" LPG Option Agreement with companies controlled by its Chairman and Chief Executive Officer, George Economou, to purchase up to four high specifications Very Large Gas Carriers (VLGC) capable of carrying liquefied petroleum gas (LPG) that are currently under construction at Hyundai Heavy Industries (HHI). Each of the four VLGCs are going to be employed on long term charters to major oil companies and oil traders.
Update on Collision of Container Vessels Wan Hai 301, APL Denver
The Maritime and Port Authority of Singapore (MPA) continues to coordinate the containment and clean-up efforts of the oil spillage in Singapore’s waters following the collision of container vessels Wan Hai 301 and APL Denver. As of 5 January 2016, a total of 17 vessels and 222 personnel have been deployed. Progress of the clean-up is being made along the western coastlines of Pulau Ubin (OBS Jetty) and Nenas Channel.
APM Terminals Mumbai Mulls DPD Service
APM Terminals Mumbai, India’s busiest container terminal, has embraced ‘Direct Port Delivery’ (DPD)service initiated by the Indian government as part of its “Ease of Doing Business Program” to enhance India’s access to the global logistics chain. The streamlined Direct Port Delivery protocol can result in substantial savings of time and money for importers by reducing container dwell times after vessel discharge.
Fuel Catalyst Makes Engines More Efficient
Engines are designed to run on refinery grade fuel. At the time fuel is refined, it is at its purest state; however, it deteriorates rapidly as it oxidizes and is attacked by a host of organisms (bacteria, yeast, molds), that change the molecular structure of the fuel. The Fitch Fuel Catalyst (FFC) reverses this natural aging process by inducing a chemical reaction using a patented metal alloy catalyst (not a liquid additive) that reforms diesel fuel…
Photos: Oil Platform Catches Fire in the Gulf of Mexico
The U.S. Coast Guard said an oil production platform has caught fire in the Gulf of Mexico, roughly 80 miles southwest of Grand Isle, La. The fire, which broke out aboard the Ship Shoal 266 A oil production platform at approximately 2:30 a.m. Thursday, was reported to have been full extinguished by approximately 5:50 a.m., according to the rig’s owner Renaissance Offshore. There were four crew members aboard the platform who…
New Reefer Ship Makes Maiden Call to US
GT USA welcomed to the Canaveral Cargo Terminal (CCT) the M.V. Seatrade Red on its maiden call to the United States. The 607-foot M.V. Seatrade Red, a specialized reefer container vessel with a capacity of 2,259 TEUs and 674 reefer plugs, was built at China’s Yangfan Shipyard and officially launched in May 2016 as one of Seatrade Group’s four new Colour Class vessels. On November 20, Joe Cruise, commercial manager of GT USA…
Towing Vessel Inspection Bureau Acquires Marine Auditing Firm
Towing Vessel Inspection Bureau (TVIB) has acquired Quality Auditing, LC, effective December 31, 2016. According to TVIB, the purchase strengthens its three-fold…
US Set to Become Energy Exporter by 2026 -EIA
The United States is projected to become a net energy exporter over the next decade due to rising natural gas exports and falling petroleum product imports, the U.S. Energy Information Administration said on Thursday. While the United States has been a net energy importer since 1953, declining energy imports and growing exports that started over the past year will allow that trend to switch by 2026, the EIA said. In late 2015, the U.S. government lifted a decades-old ban on U.S.
VRC System Ordered for SSCV Sleipnir
Heerema Marine Contractors has chosen Emerson Automation Solutions to provide a valve remote control (VRC) system for the world’s largest semi-submersible offshore crane vessel, SSCV Sleipnir, currently under construction at Sembcorp Marine’s shipyard in Singapore. The 220-meter-long vessel is designed for the installation and removal of large offshore structures, such as oil and gas platforms, subsea production facilities, foundations, moorings, and deep water floating structures.
West African Oil Loading for Asia to Slip in January
West African crude loading for Asia is expected to slide more than 10 percent in January as some buyers opt for regional grades or cargoes in floating storage, a…
Former ST Marine President Pleads Guilty to Corruption
Chang Cheow Teck, the former President of ST Marine, has pled guilty to one charge under section 157(1) of the Companies Act. Chang was sentenced to a Short Detention Order of 14 days.
All Eyes on 2020
The International Maritime Organization’s proposals to reduce sulfur levels in marine fuels to a maximum of 0.5 percent m/m (mass/mass) by 2020 may prove to be controversial, having met with various responses from major shipping organisations and other bodies. The decision to implement the proposals by 2020 was taken by IMO, the regulatory authority for international shipping, during its Marine Environment Protection Committee (MEPC 70) meeting…
San Francisco’s New Fireboat is Like No Other
San Francisco’s Jensen-designed super pumping fireboat is like none that came before her. As a result, the City by the Bay is prepared like never before, for its next crisis. Christened on October 17, appropriately enough on the anniversary of the 1989 Loma Prieta earthquake, the city of San Francisco’s first new fireboat in almost 60 years is an especially unique boat, designed and built for a specific purpose.
Start of 2017 Looks Rocky for Asian Tankers
Asia’s crude tanker market faces the double whammy of a flood of newbuild deliveries and a cut in OPEC production in Q1 2017. On the supply side, net capacity growth is estimated to be around 5 percent for VLCCs, 9.6 percent for Suezmaxes and 7 percent for the Aframaxes/LR2 segment in 2017. At least 50 percent of the newbuild VLCCs and Suezmaxes will be delivered in Q1, worsening the oversupply of tonnage.
60,000dwt Bulker Delivered to Sea Trade Holdings
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 60,000 dwt type bulk carrier M.V. STH CHIBA (MES Hull No. 1915) at its Chiba Works on January 5…
CWind Provides Vessels for E.ON Offshore Maintenance
CWind, an integrated service provider in the offshore wind industry, has announced that it supplied Crew Transfer Vessels (CTVs) to assist with blade repair operations…