If in Doubt, Ask the Doctor: Is it Time to Buy?
Trends in asset prices are generally important for vessel owners, banks who lend against them as well as commercial interests who make opportunistic acquisitions in times of depressed asset values. These trends however are for generic vessel types which are generalized from realized data consisting of actual sale and purchase (S&P) activity. We choose three representative vessel size categories fromâŚ
New PSV from Ulstein to Support North Sea Wells
Ulsteinâs yno 298, Blue Guardian, a platform supply vessel of the Ulstein PX121 design, has been contracted to support the jack-up rig Maersk Giant in its work on two subsea wells on the Norwegian continental shelf in the North Sea. The contracts with Det Norske Oljeselskap ASA and Repsol Exploration, respectively, have an estimated total duration of four months. Blue Guardian is in her final phase of construction, and is scheduled for delivery from Ulstein Verft at the turn of this month.
Brazil Takes Delivery of Third Ocean Patrol Vessel
Araguari, the third of three Ocean Patrol Vessels built by BAE Systems, was handed over to the Brazilian Navy in a ceremony at Portsmouth Naval Base. Employees joined guests from the Brazilian Navy and U.K. Royal Navy, to watch as members of the shipâs company raised the ensign for the first time, formally marking the handover of the Brazilian Navyâs newest vessel. First of class, Amazonas, was handed over to the Brazilian Navy in June 2012.
Contamination Controlled
Rear Admiral Mark âBuzâ Buzby, commander of the Military Sealift Command, sat with Maritime Reporter contributing editor Edward Lundquist talked with a week before his retirement aboard USNS Spearhead (JHSV 1) at Little Creek, Virginia, on May 10, 2013. The talk centered on a unique event in maritime history. MSC had seven ships in the area east of Japan, responding to the March 11, 2011 earthquake and tsunami that killed 19,000 people.
Campbell to Christen New Towboats, Drydock
Campbell Transportation, Inc. announced today that it will christen two newly built state-of-the-art towboats and a drydock on Tuesday, June 25. This marks the first new vessel construction in Pittsburgh in 30 years, a significant investment that will help create jobs and benefit the economy. The ceremony and celebration are an invitation-only event scheduled to be held at the North Shore River Walk in Pittsburgh.
Caley Develops Deepwater Lowering System for Gorgon Project
Handling systems specialist, Caley Ocean Systems has been awarded a contract by Subsea 7 to design, manufacture and supply a deepwater lowering system (DLS). The DLS will initially be deployed by Subsea 7 on the Chevron-operated Gorgon project, located off the northwest coast of Western Australia, to lower subsea structures weighing up to 950Te in water depths in excess of 1,300m. The DLS comprises two double drum traction and storage winches and fully redundant controlsâŚ
Wärtsilä Advice Confirms Castrol Concerns on Single Oils
Castrol Marine said it has welcomed new guidance from Wärtsilä that undermines claims that mid-range base number (BN) oils represent a single cylinder oil solution for marine two-stroke engines.
Babcockâs LGE Process Enhances Dorian/Seacor LPG Vessels
Dorian/Seacorâs liquefied petroleum gas (LPG) carriers are to benefit from the latest reliquefaction plant development from Babcockâs LGE Process, following a contract signed last month (May) for the innovative vent gas cooler enhancement to be fitted on two new very large gas carriers (VLGCs) being built for Dorian/Seacor in South Korea, with an option for a possible further three vessels. The latestâŚ
Damen Supplies Hybrid Patrol Vessel to Waternet
Damen Shipyards Hardinxveld-Giessendam recently delivered the Damen Patrol Vessel 1304 Hybrid, designed and constructed for Waternet (the Water Network Foundation). The most striking features of this hybrid patrol vessel are that it is clean, quiet, and can sail under Amsterdamâs bridges along the through routes. The âWaterspreeuwâ â meaning âDipperâ in English â was ceremonially named by the Amsterdam Executive Councillor CarolienGehrels on June 17, 2013.
New Container Weighing System Sees Port Use
Since its recent launch, Strainstallâs Container weighing system has already become established in the Intermodel/Ports industry. It is currently being used at numerous key U.K. Ports in the U.K.
Eni and Rosneft Complete Joint Exploration
Rosneftâs President and Chairman of the Management Board, Igor Sechin, and Eniâs CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, have signedâŚ
Dredging Begins at Port of Liverpool
Work on Liverpool2, a new terminal at the Port of LIverpool, has begun. More than one million cubic meters of material will now be moved by dredgers to clear a deep-water channel at the Port of Liverpool (United Kingdom), operated by Peel Ports. The dredging work â funded by a £35 million U.K. Government Regional Growth Fund grant â will create a 16.5-meter deep berthing pocket to secure access to the developing Liverpool2 project.
London Gateway Will Add Value to Supply Chain
DP Worldâs London Gateway, the U.K.âs new deep-sea port and Europeâs largest logistics park opening in Q4 this year, will prove that ports add value to the supply chainâŚ
Marine Capital and Sinopacific Sign Four Ship Deal
Sinopacific Shipbuilding Group and Marine Capital Ltd (MCL) have entered an agreement for the construction of four Crown 63 bulkers to be built at Yangzhou Dayang Shipyard, China. The deal, which is worth over $100 million, marks another significant step for MCL in its management activity, the compnay said. It is understood the bulkers, a new model of super fuel-efficient ships with the added advantage of significant reduction in CO2 emissionsâŚ
SSA Appeals to Indonesia to Stop Forest Fires
Grave concerns on safe navigation through Straits of Malacca and Singapore. The Malacca and Singapore Straits is a strategic gateway in world trade and one of the worldâs busiest waterways.
Roll-out of First MAN TCR12 Turbocharger Assembled in China
MAN Turbocharger China unveils the first TCR12 turbocharger completely assembled at its Changzhou factory. This new development confirms MAN Diesel & Turboâs strategy of localising its turbocharger production in China. Over the last two decades, the level of shipbuilding activity in China has increased dramatically, resulting in the country being ranked as the top shipbuilding nation globally for the first time in 2010.
China's Pingtan to Buy 46 Fishing Vessels
Pingtan Marine Enterprise Ltd. an integrated marine services company providing territorial sea fishing and dredging services in the People's Republic of China (PRC), has expanded its fleet, signing of a 'Master Agreement' to purchase 46 fishing trawlers in a transaction totaling approximately $410.1 million. After a thorough third-party appraisal process, the Master Agreement was signed between Pingtan and Fuzhou Honglong Ocean Fishery Co.âŚ
Oceaneering Charter 'Normand Flower' for Three Years
Oceaneering International, has chartered the 'Normand Flower', a Solstad Offshore multi-service subsea support vessel. The charter term is expected to commence during the fourth quarter of 2013 upon arrival of the vessel for work in the Gulf of Mexico (GOM). Prior to commencement of the charter, the Normand Flower will undergo modifications to enhance its project capabilities, including reconfiguration to accommodate two Oceaneering, high-specification, work class ROVs.
China Yard Launches Mult-parcel Chemical Tankship
Mingde Heavy Industry has launched what it says is the biggest stainless steel inner-hulled chemical tanker ever built in Asia. The length of this vessel is 183m, 28.4m in breadth and 15.2m in depth, and a loaded draft of 10m. The vessel is powered by a low speed diesel engine driving a single propeller for unrestricted navigation, with a dead weight tonnage of 30,000T. This tanker can carry 28 parcels of chemicals, and all of its inner hull for cargo is 2205 duplex stainless steel.
NNS Celebrates USS Enterprise's Final Homecoming
Huntington Ingalls Industries' Newport News Shipbuilding (NNS) division welcomes back the carrier for inactivation. Towed from Naval Station Norfolk to the shipyard, Enterprise had more than 100 shipbuilders on board who were involved with the construction and maintenance of this first nuclear-powered aircraft carrier. "Enterprise set the stage for a long and distinguished career that transformed the U.S.
