Friday, May 11, 2012

[Selling Leads] Butt-Welding Fittings



Butt welding fittings meet the following national and international product standards;
Production to other standards specifications may be supplied upon special agreement

Seamless Butt-Welding Fittings
by either hot or cold extrusion, forming, machining, or by a combination of two or more of these operations.
Seam-Welded Butt-Welding Fittings
Seam-welded butt-welding fittings are produced from hot or cold rolled annealed and pickled sheet or plate,formed into half shells or segments and longitudinally seam-welded.
Butt-welding fittings are available in standard size, as published in this catalogue , and in nonstandard sizes. Standard sizes fittings are generally available ex-stock. Non-standard size fittings are produced subject to certain minimum quantity limitations.
Details are available on application.
Welding
Welding is carried out by Code-Qualified personnel(ASME Code Section Ⅸ- Boiler and Pressure Vessel) whose qualification are regularly checked and approved.
Established welding methods include pulsed TIG and shielded electrode techniques.
End Preparation
Unless otherwise agreed, butt-welding fittings are supplied with plain ends. Cut square and deburred at a wall of 2mm below
Alternatively, fittings with a wall thickness of 2.0mm and above can be supplied with beveled ends to ASME B16.25.

Materials
Applied Code
Cu-Ni 90/10
EEMUA 7060X
ASTM B466, B467 C70600
BS 2871, 2872,2875 CN102
DIN17664(CuNi10Fe1Mn)
JIS H3300 C7060
Cu-Ni 70/30
ASTM B466, B467 C71500
BS 2871,2872,2875 CN107
DIN17664(CuNi30Mn1Fe)
JIS H3300 C7150
Demension
DIN 86011,86087,86088, DIN 86089,86090
BS1640
ASME B16.9,B16.28
JMS 7354

Marking
All butt-welding fittings are marked with Alloy No, Lot No, Nominal Diameter, Degree and maker's trade mark.
Additional information, e.g standard and alloy number, maximum pressure rating, can be added on request.
Inspection and Testing
Throughout the manufacturing process, from melting and alloying to the finished product, stringent quality control inspections and tests are carried out to ensure that product quality complies fully with customer requirements.
All tests are performed in accordance with the requirements of the relevant specification.
Certification
Fittings are supplied with a certificate listing the tests which have been performed in accordance with proper specifications or customer's specifications.

BO MYUNG METAL CO., LTD
584-9 Hwajeong-dong, Gangseo-gu, Busan,  618-280
Phone82-51-266-4101
Fax 82-51-266-4104
www.bmmetal.co.kr


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Demand for new tonnage surges



At the end of 2011, Mitsui O.S.K Lines (MOL) of Japan sold its four VLCCs for scrapping.

Average age of these vessels is noticeable, which only remains at 15 years (two built in 1995, one in '96 and one in '97).

It is analyzed that important trends in recent commercial ship market are represented in increasing scrapping, besides plummeted freight rate.

Shipbuilding/Shipping specialized analyst Lee Sok-Je said that ships which have reached the age of 15 years consume fuels about 30% more, on average, than newbuildings.

Therefore, the Japanese owner decided to send those ships to scrap yards due to poor fuel efficiency and oil price prospected to remain high.

He saw that MOL made a bold decision after careful consideration that fuel efficiency is far more important than freight rates in making profit.

The second trend is related to ballast water treatment system (BWTS). In case of VLCC, it costs overall $5-8m to install it. He said, MOL seems to have examined that placing newbuildings are more beneficial than equip BWTS to old vessels.

In conclusion, Lee emphasized these current trends are prompting shipowners to replace old vessels with new ones.

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DSIC wins aframax pair



China's Dalian Shipbuilding Industry is said to have won an order for aframax tankers from Norwegian owner John Fredriksen.

The deal is for two firm orders with an option for two more, set for delivery late in 2013 and 2014. Price tag is reportedly some $44m each.

The ships are said to be booked by Fredriksen’s private Cyprus set-up, Seatankers.

Sources say it is also likely the series will join the Frontline spin-off Frontline 2012, set up late last year.

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Zodiac aims 5,000TEU bargains



London-based Zodiac Maritime Agencies is in talks with South Korean shipbuilders to order 5,000-teu boxships.

Industry players say Zodiac aims to take advantage of the low shipbuilding market.

“We understand Zodiac has no employment lined up for the vessels,” said one. “It is making a speculative order as newbuilding prices are at the bottom.”

Zodiac is said to be in contact with Hanjin Heavy Industries & Construction, STX Offshore & Shipbuilding and Hyundai Mipo Dockyard as well as Daewoo Shipbuilding & Marine Engineering. Daewoo is hungry for orders for its Daehan facility in South Korea and Mangalia facility in Romania.

“Constructing a 5,000-teu boxship is probably going to cost yards close to $50m but we heard Zodiac is seeking to pay less than $50m,” a broker says.

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Warnings on MR over-ordering


Recent surge in MR product tanker newbuilding orders could harm weak market recovery, warns US-based consultancy McQuilling Services.

“Based on the current delivery profile and looming surplus, we believe these orders may be premature and earnings could suffer,” McQuilling said in a report on Thursday.

The warning follows forecasts at tanker conferences this year that product tankers will recover more quickly than other shipping segments as fewer orders had been placed over the last few years.

That delicate recovery now appears to be in the balance, given owners’ current enthusiasm for ordering new product tankers.

Data from Clarksons show that 35 contracts for new MR tankers in the size range 30,000 dwt-59,999 dwt were signed by the end of April, up from five contracts signed for new vessels of that size in that period last year.

However, McQuilling does not believe there has been a robust enough change in the market to justify the ordering spree.

“Lacking any significant improvement in demand fundamentals in the clean product trades, we were surprised by the surge in MR2 newbuilding contracts,” said the report.

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GE sells brand new VLCC



MUMBAI, 9 May 2012 - The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of its 318,000 dwt Very Large Crude Carrier (VLCC) "Vasant J Sheth" from Hyundai Heavy Industries Ltd, (HHI) South Korea and subsequently delivered the vessel to its new buyers.

This is the last vessel out of the 3 VLCCs which the Company had ordered at HHI in April 2010 and subsequently contracted to sell in Q1 FY12.

The Company's current fleet stands at 34 vessels, comprising 24 tankers (9 crude carriers, 14 product carriers, 1 LPG carrier) and 10 dry bulk carriers (1 Capesize, 3 Kamsarmax, 1 Panamax, 4 Supramax, 1 Handymax) with an average age of 8.9 years aggregating 2.62 m dwt.

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Hyundai gears up for orders



Hyundai Heavy Industries of South Korea is to book more new orders than expected this month.

Analyst Huh Sung-Duk, Hi Investment & Securities said on May 10, "I do not agree with rumors on the market that Hyundai will see no newbuilding contract for a while amid concerns over Eurozone debt crisis."

He forecast, "Hyundai will gear up for new orders in May and win large-size offshore plant in the excess of $2bn next month."

Overall $1.1bn of new order for drilling rigs are expected this month, following after Hyundai Samho Heavy Industries' new order for semi-submersible rig last week.

In June, orders for offshore plant from the Middle East and Africa, $2bn, are anticipated.

Hyundai (including Hyundai Samho)'s Shipbuilding and Offshore & Engineering divisions have seen new orders of overall 15 vessels/units, in total of $3bn, year-to-date, including one drillship, six LNG carriers, one LNG-FSRU, three LPG carriers, three product carriers, etc.

Hyundai has reached 15.8% of its 2012 new order target of $19bn in the two business sectors.

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Zaliv completes PSV building



JSC Shipyard Zaliv has completed works on construction of offshore platform supply vessel (total launching weight is 1550 tons, deadweight 4000 tons).

By the words of the General Director Mr. Nikolay Yermak, despite the fact that Zaliv already works on the offshore shipbuilding market this project was not an usual one.

Order, initially placed on one of yards in Sevastopol, for construction of the vessel for offshore supply of drilling platforms (project 832 CD from design bureau of famous shipbuilding group Havyard International AS) owing to various reasons have not been completed.

Resulting from this ordering company applied to Zaliv with offer to undertake the realization of this project. As a result in the July last year all the steel structures were delivered from Sevastopol to Kerch and in September the laying of first bottom units took place on the slipway.

For the period of more than six months Zaliv should have learnt principally new project and the most part of works on forming of the hull fallen to the winter period.

On April 26, 2012 shipyard Zaliv and the customer company signed the delivery-acceptance documents and on May 3, the new vessel "Sayan Princess" was towed to Norway.

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Japan launches JSIF



Japan Ship Investment Fund (JSIF), a joint venture invested by 20 Japanese shipyards with the purpose of boosting their orders for overseas newbuildings, has been officially set up.

The plan is that shipyards promote winning new orders from overseas owners by investing their own equity directly into newbuildings and making full use of ship finances from financial institutions, such as the Japan Bank for International Cooperation (JBIC), etc.

Also, there are various options for owners, for instance, owners can pay some shipbuilding funds or set up a purchasing option, etc.

Specifically, JSIF's basic planning of ship investment and ship finance is that JSIF establishes a special purpose company (SPC) for one vessel with investment by yards, be provided ship finance with maximum of 80% of newbuilding price from financial institutions and construct the vessel.

Then, JSIF contracts for bareboat charter of the vessel with overseas owner and sell it off when the timing term is due.

SPC collect the investment and loan payment with charter hire and disposal profit, in the end.

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Ship repair yards "Challenged"



International environmental regulations for the shipping industry are being tightened and demand a reduction of the emissions of sulphur and nitrous oxides. In order to fulfill these demands, many of which come from the UN's International Maritime Organization (IMO), shipping companies are pushed to upgrade their fleets with emission reducing systems. Ship repair and conversion yards are now challenged to keep installation costs as low as possible for their clients.

Damen Shiprepair Götaverken (Gothenburg, Sweden) has already taken an interest in the new rebuilding requirements that come into force in 2015. At this very moment the tanker ‘Bit Oktania' from Tarbit Shipping is in one of its dry docks for regular maintenance. At the same time the vessel is upgraded by installing a catalyzer system to meet the new environmental demands.

"We try to keep installation costs at the lowest possible levels to mitigate the high costs experienced by ship owners due to new environmental demands", says Jos Goris, Managing Director of Damen Shiprepair Götaverken. "Even though this is fully in line with our own philosophy of operating in a sustainable way, this is quite a challenge for us. Nonetheless, we feel we're up to it! Furthermore, it gives us the opportunity to develop new ways of cooperating with our Scandinavian suppliers and we experience a knowledge increase, which has a positive effect on our workforce."

SOx Emission Control Areas
IMO provides international standards to regulate shipping. However, individual countries can have tougher demands than those determined by IMO. This goes especially for EU-countries and the USA, where there's great societal pressure for increasingly stringent environmental requirements. As a result, a number of new environmental regulations will have to be implemented by ship owners in the coming years. Some apply in a first stage to the northern European part of the world, in the so-called ‘SOx Emission Control Areas' (SECA) and are primarily aimed at reducing nitrous oxide emissions. The SECA area currently includes the North Sea, the Baltic Sea and the English Channel.

Mr Goris comments: "There are several ways of fulfilling the new demands. For some, vessels don't really need to be dry docked in order to install new systems, although many shipping lines choose to combine the installation with the statutory dry docking. Since we have over one kilometer of quay, we can manage the installation of catalyzers or exhaust scrubber systems at any suitable time for our customers. Other methods involve more serious investments, for example converting a vessel to run on alternative fuels. Whatever the solution chosen by a ship owner, we realize it involves a cost that wasn't there a few years ago. Therefore, we're specializing in this field, both technically and financially. This enables us to work closer and more efficiently together with our customers, not only in doing our regular maintenance and repair work, but also in finding the most economical solution for their needs."

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Ulstein, PSV successful launch



Yard number 294 from Ulstein Verft was successfully launched in the afternoon of 9 May.

The platform supply vessel of PX121 design from ULSTEIN under construction for Blue Ship Invest was launched from the dock after the final paintwork had been carried out inside the dockhall.

The vessel is due for delivery in August this year.

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Song Thu bags small PCs



Vietnam's Song Thu Shipyard has won an order for four small products tankers from Australian offshore player DSM Maritime.

Danang-based Song Thu Shipyard has just bagged the order for the 1,035-dwt quartet, all of which will be delivered in 2013.

The newbuildings are being built to a Damen design.

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Thursday, May 10, 2012

Hyundai wins $655m drillship



Houston, May. 9, 2012, Diamond Offshore Drilling, Inc. (NYSE:DO) announced that a subsidiary, Diamond Offshore Drilling Limited, has entered into a turnkey contract with Hyundai Heavy Industries Co., Ltd. for construction of a new ultra-deepwater drillship with delivery scheduled in the fourth quarter of 2014.

Total cost, including commissioning, spares and project management, but excluding capitalized interest, is expected to be approximately $655 million.

The new drillship, to be named Ocean BlackLion, will be of the same design as Diamond Offshore’s three units currently on order with Hyundai.

Design specifications include dynamic-positioning, dual activity capability, a maximum hook-load capacity of 1,250 tons, and operating capability at water depths up to 12,000 feet, though initially outfitted for operation at 10,000 feet. The unit will also feature two seven-ram blowout preventer (“BOP”) stacks, with the second available for use as a spare.

Diamond Offshore has elected to equip its previously announced drillships now under construction with an additional seven-ram BOP to improve rig reliability. The cost to add a second BOP is approximately $34 million, bringing the average total price for each of the previously announced drillships to approximately $640 million.

Diamond Offshore also announced that it has completed the sale of four jack-up drilling rigs in two separate transactions. The Ocean Heritage was sold for $45 million in cash, and the cold stacked mat-supported rigs Ocean Champion, Ocean Crusader, and Ocean Drake were together sold for $10 million in cash; all four units were held for sale in the Company’s first-quarter financial results.

“We are principally a floater company, and during 2012 we have sold five jack-up rigs for a total of $95 million, which is being reinvested in our fleet,” said Larry Dickerson, President and Chief Executive Officer of Diamond Offshore. “We believe this new drillship along with our four additional units under construction—the Ocean BlackHawk, Ocean BlackHornet, Ocean BlackRhino and Ocean Onyx—will be profitably employed in the deep and ultra-deepwater markets.”

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