Petrobangla, Summit Pact for 2nd LNG Terminal
Bangladesh's State-owned Petrobangla has inked final deals with Summit LNG Terminal Co to development the country's second floating LNG terminal. The Financial Express reported that Summit group will install a Floating Storage and Re-gasification Unit (FSRU) at Moheshkhali Island in the Cox's Bazar. The terminal will have 500 million meter standard cubic feet per day (mmscfd) capacity, which would go on operation after 18 months. The cost of the second project is estimated at $400 million-500 million…
FREMM Rizzo Delivered to the Italian Navy
The frigate Rizzo was delivered to the Italian Navy at Fincantieri’s shipyard in Muggiano, La Spezia. It is the sixth vessel of the FREMM program – Multi Mission European Frigates – commissioned to Fincantieri within the international Italian-French program, coordinated by OCCAR (the Organization for Joint Armament Cooperation). Orizzonte Sistemi Navali (51 percent Fincantieri and 49 percent Leonardo) is the prime contractor for Italy in the FREMM program, which envisions the building of 10 units, all already ordered.
Veotec Supplies Water Removal Vanes to Vigor
Air intake systems designer and manufacturer Veotec said it has supplied air inlet vanes (vertical louvers) and CP2 filters to U.S. shipbuilder Vigor for two pilot boats delivered to the Port of Duqm Company SAOC, Sultanate of Oman. Veotec's scope of supply for each pilot vessel included two SE2 two stage (louver and coalescer) units for engine room combustion and ventilation air supply, and one SE2 two stage (louver and coalescer) unit for the A/C make up air inlet. These units were custom built in the U.S. using marine grade aluminum.
‘Natural Gas Operating Fleet’ Concept Receives AiP
Wärtsilä and COSCO shipping Heavy Industry Co (CHI) have announced the joint development of a natural gas operating fleet concept, and this design has now obtained Lloyd's Register's (LR) Approval in Principle (AiP) certificate. The development project was carried out under the terms of a memorandum of understanding cooperation signed in June 2016 between the three companies. According to the developers, the aim of the concept is to offer global operators a more efficient and…
Updated Forecast: Floating Production System Orders
World Energy Reports has released its midterm five year forecast of production floater orders. The forecast, detailed in the March 2017 WER report, reflects positive and negative developments in underlying business drivers since WER’s five year forecast last October. Likelihood that the November U.S. election results will accelerate U.S. More rapid expected increase in cost of capital – U.S. Overall, the net impact of these changes is slightly negative – but the outlook for a ramp up in production floater orders remains bullish.
Seattle/Tacoma Box Volumes Rise in March
Total domestic and international container volumes at the Port of Seattle and Port of Tacoma increased by more than 14 percent for the month of March, and year-to-date volumes were up 10 percent. March international container volumes performed strongly post-Lunar New Year. At 120,018 TEUs (20-foot equivalent units), full imports grew almost 26 percent compared to March 2016. At 99,603 TEUs, full exports were up more than 9 percent in March, making it the strongest month for exports this year.
US Navy Ends 'ENDS' on Ships
Commander, U.S. Fleet Forces (USFF) and Commander, U.S. Pacific Fleet (PACFLT) released a joint message April 14, that suspends the use, possession, storage and charging of Electronic Nicotine Delivery Systems (ENDS) aboard ships, submarines, aircraft, boats, craft and heavy equipment. The prohibition applies to Sailors, Marines, Military Sealift Command civilians and any personnel working on or visiting those units. The Fleet commanders implemented this policy to protect the safety and welfare of Sailors and to protect the ships, submarines, aircraft and equipment.
Milestone for Italian Navy Newbuild
The launching ceremony of the bow section of the LSS logistic support unit Vulcano, took place at the shipyard in Castellammare di Stabia (Naples) in the presence of the Italian Minister of Defense, Roberta Pinotti. The unit was ordered to Fincantieri within the renewal plan of the Italian Navy’s fleet. Godmother of the ceremony was Maria Teresa Piras, widow of the vessel tenant Emilio Attramini, young Italian Navy Officer, who died in 1977 in the air disaster of the Monte Serra.
New Cutmaster 60i Plasma Cutter
Thermal Dynamics, an ESAB brand, announced that its new Cutmaster 60i handheld air plasma cutting system is now available for purchase through traditional and online welding distribution outlets. Cutmaster 60i weighs 37 lbs. and provides a rated output of 7.6 kW at 50 percent duty cycle at 60A. It produces a recommended cut of 5/8 in., has a maximum sever thickness of 1-1/2 in., and provides the fastest cut speed at any thickness material for its class. "We have designed the Cutmaster 60i so that it provides the industry’s highest power-to-weight ratio in its class…
New Fresh Water Generators for Pionerio de Libra FPSO
Dutch water treatment specialist Hatenboer-Water has supplied three fresh water generators for the Pioneiro de Libra oil production vessel built by Jurong Shipyard Pte Ltd. The order consists of three reverse osmosis type fresh water generators. Two of the generators are topside installations in heavy duty box frames suitable for a hazardous Ex Zone 2 area. The Pioneiro de Libra is operated by OOGTK Libra GmbH & Co KG, a joint venture between Brazil’s Odebrecht Oil & Gas and Teekay Offshore. The reverse osmosis (RO) units desalinate seawater for different applications on board.
MAN Debuts New SCR for Two-stroke Engines
MAN Diesel & Turbo and its licensee Mitsui Engineering & Shipbuilding introduced its new high-pressure selective catalytic reduction (SCR) system, MAN SCR-HP, at an event in Tamano, Japan on April 11. The MAN SCR-HP is available for two-stroke engines of all bore sizes and reduces – through internal catalytic reaction – NOx exhaust emissions to IMO Tier III limits. With specially developed honeycombs and honeycomb materials, as well as an integrated mixing unit, the overall size of the reactor has been drastically reduced compared to typical market designs and its medium-speed counterpart.
Kongsberg Maritime, SES Form Strategic Alliance
Kongsberg Maritime Inc., the North American division of Norway headquartered marine and offshore technology company Kongsberg Maritime, and Houston headquartered Stress Engineering Services (SES) have formed a strategic alliance to better serve existing and new clients with cost effective engineering services and fully integrated technical solutions within offshore drilling and floating production systems. By combining Stress Engineering Services’ wide-ranging engineering expertise…
Nimitz Strike Group Successfully Completes COMPTUEX
The USS Nimitz (CVN 68) Carrier Strike Group (CSG) 11 successfully completed its final pre-deployment assessment, Composite Training Unit Exercise (COMPTUEX), April 21, marking the completion of its condensed Inter-Deployment Training Cycle (IDTC) for an upcoming deployment. COMPTUEX is an exercise that tests a strike group's ability to work and operate as one cohesive unit in a simulated real-world-scenario based training environment. Nimitz was joined by CSG 11, to include Destroyer Squadron (DESRON) 9 and Carrier Air Wing (CVW) 11, to prove their operational capabilities prior to deploying.
Sustainable Carrier Transicold PrimeLINE Units
The PrimeLINE unit from Carrier Transicold has achieved a new distinction in sustainability, becoming the first container refrigeration system with a UL Environment validation for recyclability. As validated by UL Environment using its Environmental Claims Validation Procedure 2789, the PrimeLINE unit is 93 percent recyclable. Carrier Transicold helps improve global transport and shipping temperature control with a complete line of equipment for refrigerated trucks, trailers and containers, and is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp. (NYSE: UTX).
Carrier Transicold’s 700,000th Refer Unit
Carrier Transicold’s Container Products Group recently achieved production of its 700,000th container refrigeration unit. Carrier Transicold is a part of Carrier Corp., a business unit of United Technologies Corp. (NYSE: UTX). Since shipping its first container refrigeration unit in 1968, Carrier has provided refrigeration units to nearly every shipping line, container-leasing company and major global produce shipper in the world. Maersk Line, was the recipient of the 700,000th unit…
Rickmers Maritime is Latest Singapore Casualty
Company struggled with debt in wake of shipping downturn. Debt includes over $270 mln in secured loans. Rickmers Maritime, a Singapore-listed trust that operates container ships, said it would be wound up as it has been unable to reach an agreement with its lenders to restructure debt or raise new equity. Struggling in the wake of a global shipping downturn, Rickmers joins other Singapore-listed companies from the offshore and marine sectors that have been grappling with debt in the last year.
Teekay Announces Pricing of Initial Public Offering
Teekay Offshore Partners L.P. announced that it has priced its initial public offering of 7,000,000 of its common units at $21.00 per unit. The 7,000,000 common units represent a 35.0% limited partner interest in the master limited partnership and the offering will increase to 8,050,000 common units if the underwriters exercise in full their over-allotment option. Teekay Shipping Corporation owns the remaining interests in the partnership, including common units, subordinated units, incentive distribution rights and its 2% general partner interest. Citigroup Corporate and Investment Banking and Merrill Lynch & Co. acted as joint book-running managers and representatives of the underwriters, which include Morgan Stanley, A.G.
Teekay Offshore Raises Distribution; Completes FSO Acquisition
Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE: TOO) announced that its general partner has increased its quarterly cash distribution by $0.035 per unit, from $0.35 per unit to $0.385 per unit ($1.54 annualized) as a result of the previously announced acquisition of the shuttle tankers Navion Bergen and Navion Gothenburg. The cash distribution will be paid on November 14, 2007, to all unitholders of record on November 7, 2007. In addition, the Partnership announced that is has completed the acquisition of a Floating Storage and Offtake unit (FSO), the Dampier Spirit, for a total cost of approximately $30.3m from Teekay Corporation (Teekay), the parent of its general partner.
MOL to Open New Business units
Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Juinchiro Ikeda) today announced plans to establish two new business units — the Dry Bulk Business Unit and the Energy Transport Business Unit and restructure its dry bulk business divisions — effective April 1, 2016. The restructuring will not affect the company’s disclosure of financial results by segment. 1. MOL will restructure the dry bulk business divisions and establish the Dry Bulker Business Unit to most effectively implement business structural reforms to optimize the fleet portfolio and make more efficient use of management resources.
Tank Barge Report
Currently, Marcon International, Inc., the ship sale & chartering firm, has 62 inland tank barges available for sale, down from 124 in June 1996. Most of these are typical U.S. inland river units of approximately 30 years of age (vs. an average active U.S. inland fleet age of 24 years). Marcon also has listed and available for sale a total of 41 ocean and coastwise barges compared with 50 in June 1996. Most of these are older single skin units. Even with OPA 90 retirement dates approaching and double skins being built, the firm reports not seeing any great numbers of U.S. single hull tank barges coming on the market - especially from the ocean and coastal fleets. There is a wide split in price ranges for those vessels for sale.
Carrier’s Refrigeration Unit for Ships Tops Records
Reflecting the shipping industry’s continued trend in the adoption of energy efficient equipment which reduces lifecycle costs, Carrier Transicold reported that its PrimeLINE® container refrigeration unit has surpassed previous records, selling nearly the same number of units in 2011 as in the prior three years combined. “For four successive years, the PrimeLINE unit has outsold all competitive models, and 2011 – a record year for the industry – accelerated this trend,” said David Appel, president, Carrier Transicold. Appel credited the PrimeLINE unit’s success with its industry-leading efficiency, which responds to the market’s need for more sustainable solutions. Carrier’s ThinLINE® unit, the historic market leader, also surpassed previous-year sales in 2011.
Container Refrigeration Energy Efficiency Yields Good Returns
Reflecting the shipping industry's continued trend in the adoption of energy efficient equipment that reduces lifecycle costs, Carrier Transicold reported that its PrimeLINE® container refrigeration unit has surpassed previous records, selling nearly the same number of units in 2011 as in the prior three years combined. The PrimeLINE unit's exceptional efficiency -- thanks in part to its efficient digital scroll compressor -- significantly reduces on-board power generation requirements, helping shipping lines save fuel used in the generation of electricity. This, in turn, helps hold down operating costs and reduce emissions related to power generation. The PrimeLINE unit reduces carbon emissions 28 percent compared to previous units.
LaBorde Launches New Compact Power Unit
With many experiencing significantly reduced pump off times with Laborde Products' Barge Power Units and after success with the previous version of its C1-D1 Power Unit, the company introduces a new and improved version. The new C1-D1 Power Unit, while retaining the marine propulsion, is a more compact, all-mechanical Mitsubishi S6B3 engine that delivers the time reducing 429 bhp. "This new unit is the result of Laborde listening and responding to the customer's wants and needs," said Thomas Cash, Laborde Products head of engineering.