Hafnia Tankers Inks Fresh Sale and Leaseback Deal
Denmark-based shipping company Hafnia Tankers has successfully completed a sale and leaseback in the Japanese market through the sale and leaseback of its 2010 built LR1 tanker, MT Hafnia Australia. The Vessel has been sold to a Japanese private ship owning company (the Lessor) with a 12-year bareboat charter back with annual purchase options from year four onwards. The Transaction entailed a sale of the 74,539 dwt ship at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of approx.
BIMCO: China Breaks New Ground… Again
Chinese seaborne imports of iron ore, coal and crude oil have all grown strongly throughout 2017. Both seaborne imports of crude oil and iron ore have reached the highest levels ever recorded, while coal reached the highest level in three years. Imports of crude oil and coal have benefitted the shipping industry to the greatest extent as both volumes and distances have increased. China continues to ramp up its imports of iron ore with seaborne imports growing 4.7% in 2017 compared to 2016.
Interferry Main Event Heading Back to Australia
Global trade association Interferry has chosen Hobart, Tasmania, as the venue for its 45th annual conference in October 2020 – the third time that the ferry industry’s showcase event will have been staged in Australia following Sydney in 1995 and Gold Coast in 2002. Hobart was confirmed for 2020 during an Interferry board meeting in Atlanta, U.S. “We felt it was important to go back to Australia – we have a strong base of members there and they have always been very supportive,” explained CEO Mike Corrigan.
Young Endeavour Celebrates 30 Years
The Royal Australian Navy operated Sail Training Ship Young Endeavour celebrated 30 years of challenging and inspiring young Australians at Fleet Base East on Thursday, January 25, 2018. The day marked exactly 30 years since the Prince and Princess of Wales oversaw the Union Flag and Merchant Naval Red Ensign being replaced by the Australian National Flag and the RAN White Ensign, signifying the ship’s presentation by the United Kingdom to the people of Australia as a ‘living gift’ to mark Australia’s bicentenary.
Pariah Containership Detained in NZ
The troubled German-owned, Liberia-flagged containership 'Vega Auriga', which was last week banned by Australia from entering its ports for three months, has now arrived in New Zealand, where it has been detained, informs ITF Seafarers. The ship – described by the Australian Maritime Safety Authority as a "repeat offender" for breaches of seafarer welfare and ship maintenance – was detained in Tauranga after Maritime New Zealand found 14 deficiencies, with 11 to be rectified before it can leave. However, the Filipino crew have now received some of their back pay due; ITF inspector Grahame McLaren reports that they have received their June and July wages, although pay for August was still outstanding.
Samsung Heavy Industries Bags USD 91.47mln Newbuild Order
Samsung Heavy Industries (SHI) swept 1 trillion KRW (USD 91.47mln) worth orders, including an order from an Asian owner to build eight 12,000TEU containerships for around 820 billion KRW. The neo-panamax vessels are 334m in length and 48.4m in breadth, to be delievered by May 2021. SHI believes the growth in seaborne trade and environmental regulations would lead to more commercial vessel newbuilding orders. SHI's order total for 2018 reached 1 trillion KRW as of now, including another recent order for a LNGC at around 210 billion KRW, well on the way to the yearly order target.
France's DCNS Wins $40 bln Australian Submarine Contract
France's state-owned naval contractor DCNS Group has won a A$50bn ($40 billion) contract to build 12 submarines for the Australian Navy, beating bids from Japan and Germany. Malcolm Turnbull, Australia’s prime minister, announced that DCNS awarded tender over Germany and Japan to build fleet of Barracuda-class submarines in South Australia. The decision to build a new fleet of submarines in partnership with DCNS represented “a momentous national endeavour,” he said. The Shortfin Barracuda submarines will be built in Adelaide using Australian steel, creating 2,800 jobs, he said.
Wilhelmsen Ships Services Supports Gorgon Project
Wilhelmsen Ships Service is providing a range of support services to the Gorgon project, Australia’s largest ever oil and gas project. Services include the importation of dredgers and project cargo shipments. The company is also providing agency and logistics support to the offshore accommodation vessel MS Finnmarken which houses a 350-strong workforce for the project. Operated by Hurtigruten, the Finnmarken is a Norwegian owned cruise vessel, whose on board residents are mainly dredging crew. The vessel is moored near to Barrow Island which is the site of the Gorgon Project’s gas plant construction. The key advantage of accommodating the workers offshore is that it reduces the environmental impact of the project by removing the need to accommodate these workers on Barrow Island itself…
Cove Point LNG Terminal's First Export Imminent
Methane Spirit, a liquefied natural gas tanker, said on Thursday it would arrive at Dominion Energy Inc's Cove Point LNG export facility in Maryland around March 31, according to Reuters shipping data. If correct, that could be the first vessel to pick up a cargo from the LNG facility, which Virginia-based Dominion said it expects to enter service in March. Dominion said it planned to spend $4 billion to add export facilities at Cove Point, long an LNG import terminal on the Chesapeake Bay.
SSY Pacific Capesize Index gain by 432 points
Shipbrokers Simpson, Spence and Young's Pacific Capesize Index gain by 432 points in the week ending Monday to 4,387. "A weekly gain of 432 points lifts the SSY Pacific Capesize Index to 4,387 points. This is 940 points above the year-ago level. An increase in iron ore chartering activity from West Australia led to a significant improvement in the Pacific, with round-voyage rates (180k dwt) rising by $5,850/day last week to $14,350/day, while the Dampier-China iron ore spot rate climbed by $1.30/t to $6.95/t".
Sino-Australian Seaborne Trade
In recent decades, trade between the Australia and China have made an increasingly significant contribution to growth in global seaborne trade, and the signing of the China-Australia Free Trade Agreement in 2015 is driving further co-operation, says a report by Clarkson Research Services. But just how important has the impact of trade between these two countries been? Between 2006 and 2016, Chinese imports from Australia grew by a CAGR of 17% p.a. to reach an estimated 792mt in 2016.
MHI Establishes MHI Australia Pty. Ltd.
Today Mitsubishi Heavy Industries, Ltd. (MHI) launched operations at MHI Australia, Pty. Ltd. in Sydney. Creation of the new entity has two overriding ambitions: 1) to strengthen ties with Australia's governmental institutions and economic and industrial sectors, and 2) to serve as a base for developing relationships with Australia's academic bodies, including universities and research institutes. MHI Australia will help drive proactive sales support as well as broad information gathering to reinforce MHI's business structure in the Australia/Oceania region as well.
Australia, France Meet to focus on Future Submarine Program
The Minister for Defence, Senator the Hon Marise Payne, and her French counterpart, Minister Jean-Yves Le Drian, today agreed to strengthen the Australia-France defence relationship by establishing formal annual Australia-France Defence Ministers meetings. Minister Payne said Australia and France have a close and long-standing Defence relationship, based on shared interests in contributing to the rules-based global order and strong cooperation in the Pacific. “Building on these links…
Germany Hardsell Submarine Deal With Australia
The German company competing for Australia's $50 billion submarine contract is ramping up its pitches and lobbying became more intense. Germany is positioning itself as the "safe option" to build Australia's new submarine fleet, arguing it avoids upsetting China. The German company ThyssenKrupp Marine Systems (TKMS) linked its bid to strategic tensions in the South China Sea. It also said that awarding the contract to Japan could damage Australia's relationship with China. According to a report in ABC…
New Tug Named for KT-Maritime Services
A naming ceremony was held for RT Raven in Sharjah, UAE, where the new tug was built at the Albwardy Damen yard. RT Raven is managed by KT-Maritime Services Australia, owned by the KOTUG group, and will be deployed by ConocoPhillips in the Bayu Undan field, north of Australia. The ART 100-46 class Rotor tug is designed by Robert Allan Ltd and DAMEN Hardinxveld. The RT Raven will provide offshore services, towage assistance, personnel transfer and standby duties at ConocoPhillips’ Bayu Undan field in the Timor Sea.
Combat System Integrator for Future Submarines
The Minister for Defence, Senator the Hon Marise Payne and the Minister for Defence Industry, The Hon Christopher Pyne MP today announced that Lockheed Martin Australia has been selected as the preferred Combat System Integrator for Australia's Future Submarine Program, subject to further discussion on commercial matters. Minister Payne said this is an important step in the development of Australia’s regionally superior future submarines. Mr Pyne said Lockheed Martin Australia intends to team with other Australian companies to provide the local engineering capacity needed to support the program. "Today's announcement again shows the Turnbull Government is setting a cracking pace on delivering on its commitment to build 12 regionally superior submarines in Adelaide," Mr Pyne said.
Rolls-Royce Wins $39.2m Shiplift Contract
Rolls-Royce will provide the Government of South Australia with a $39.2m shiplift, designed to be a key element of a major new shipbuilding and ship repair development at Techport Australia. The Syncrolift will have capacity for ships of up to 9,300 tons, including the Royal Australian Navy’s new generation of Air Warfare Destroyers which will be built by ASC at Techport Australia in Adelaide. 156- metre-long Syncrolift for Techport Australia, under development by the Government of South Australia. It will go into service in 2009 and will include a ship transfer system from Norwegian company TTS which will move vessels between the Syncrolift and maintenance/build berths on shore.
Hay Point's Third Coal Berth Opens
BHP has marked a new milestone in their coal sector expansion as BMA opened the new third berth at the Australia's Hay Point Coal Export Terminal this week. The new infrastructure increases Hay Point Coal Terminal’s capacity from 44 million to 55 million tonnes per annum. Hay Point has been in operation since 1971, and the third berth and ship loader has been under construction since 2011. For information about operations in Australia contact GAC Australia at email@example.com
Indian Diesel Cargoes to Australia in Rare Move
India-Australia vessels booked despite higher freight costs; Chevron moving 1-2 cargoes a month to Australia. Indian diesel cargoes are being shipped to Australia in a rare move as rising competition from new Middle East refineries has made it more difficult to land the fuel in India's core traditional markets in Europe and Africa. Diesel is typically shipped to Australia from North Asia or Singapore as freight rates for the India-Australia route can cost as much as 50 percent more, traders and shipbrokers said. Yet several vessels have been chartered on the higher-priced route since late last year, the traders and brokers said. Chevron…
GAC Australia Signs Three-Year Contract with MOL
Multimodal transport operator Mitsui O.S.K Lines (MOL) has awarded an exclusive three-year contract to serve its vessels and port calls across Australia to GAC Australia, part of the global shipping, logistics and marine service provider GAC Group. The contract was signed by Mark Austin, Managing Director of Mitsui O.S.K Lines Australia (MOL), and Phil Coolican, Managing Director, GAC Australia, following a rigorous tender process. MOL, a marine transportation companies, operating a global fleet of more than 900 vessels with an overall capacity of around 66 million deadweight tons (DWT).
Chevron Strike Gas Offshore Western Australia
Natural gas deposits discovered in two locations by Chevron Australia's deepwater drilling exploration program in the Carnarvon Basin. The Pinhoe-1 exploration discovery well encountered approximately 197 feet (60 meters) of net gas pay in the Barrow and Mungaroo Sands. Pinhoe-1 is located in the WA-383-P permit area, located approximately 124 miles (200 kilometers) north of Exmouth off the Western Australia coast. The well was drilled in 3,048 feet (929 meters) of water to a total depth of 13,396 feet (4,083 meters). The Arnhem-1 exploration discovery well confirmed approximately 149 feet (45.5 meters) of net gas pay in the upper Mungaroo Sands. Arnhem-1 is in the WA-364-P permit area, located approximately 180 miles (290 kilometres) north of Exmouth off the Western Australia coast.
As Australia-Asia Trade Grows, So Too Does Bunker Use
OW Bunker confirmed an increase in demand for bunkers across the Pacific Islands, resulting from a further strengthening in trade between Australia, China, Indonesia and India and further growth in the domestic cruise industry. OW Bunker Australia, which acts as the OW Bunker Group's purchasing centre for the region, has reported that the Pacific Islands are experiencing an increase in demand for marine fuel as Australia's commodities markets and marine tourism industries continue on a positive growth trajectory. OW Bunker has confirmed that availability of both 0.1% MGO and 3.5% fuel oil across the region is sufficient to meet demand, with a strong supply infrastructure throughout the Pacific Islands. Stefan Poulus, Branch Manager, OW Bunker Australia.
MoU Centered on Australian Future Submarines
Flinders University and four of France’s leading Graduate Schools of Engineering have entered into an academic and research cooperation agreement relating to Australia’s Future Submarine Program. The agreement between Flinders and a consortium comprised of ENSTA ParisTech, École Centrale de Nantes, CentraleSupélec and École Polytechnique will be signed at a ceremony to be witnessed by South Australia’s Minister for Higher Education and Skills, the Hon Susan Close and the Deputy Chief Executive of DCNS and General Manager of Australia’s Future Submarine Program, Marie-Pierre de Bailliencourt.