Friday, June 15, 2012

Damen built dredger in Egypt


Damen built dredger in Egypt

A Damen Cutter Suction Dredger, type CSD500, has been built under license by Canal Naval Construction for the Egyptian General Authority for Fish Resource Development.

The customer, a long term Damen customer, requested local construction which was supervised by Damen Technical Cooperation (DTC). Damen delivered a complete dredging package so that the customer could start the dredging job without delay.

The CSD500, named "25 January" after the day of the beginning of the Egyptian revolution, has been built by Canal Naval Constructions Co (CNC) of Port Fouad, Egypt.

Damen Dredging Equipment sent over all vital components such as the dredge pump, the control cabin etc in containers. Together with all required drawings and the DTC assistance, CNC built a perfect CSD500. The CSD500 is fitted out with a large number of optionals, as well as the auxiliary equipment required for the jobsite.

Damen built dredger in Egypt


The CSD500 has a max dredging depth of 14 m, and a max installed power of 1.293 kW. The cutter power is 180 kW. The CSD500 has a mixture capacity of some 4.000 m3/h. The standard dredger has been customized by adding a large number of optionals, such as a jib crane, navigation lights, a communication package, air conditioning, a bilge pump, heavier fenders, a fire fighting installation and a 500 L fresh water tank with tap and sink. The dredger received Bureau Veritas class approval as it will be working near the Mediterranean coast.

Crew Training
Apart from the standard options, a complete dredging package was delivered to facilitate a quick start of the dredging job. The package includes 600 m floating pipe line, 600 m land based pipe line, a complete set of spare parts and crew training. Damen trainers are now in Egypt for crew training on site, for an optimal start of the job.

For the owner, the General Authority for Fish Resources Development, the "25 January" is its second Damen dredger. Their first was the dredger "Bardawil Lagoon", delivered in 1997. Both dredgers will operate in the Northern Egyptian lakes "Manzala", "Burullus" and "Bardawil" where they will assist in the development of the Egyptian aquaculture. Damen trust that the "25 January" will be another asset to the further development of the regions fishing industry.


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FSG wins 1st offshore vessels



German shipyard Flensburger Schiffbau-Gesellschaft has won an order for two offshore vessels, marking its entry into the area.

FSG will build two vessels for WesternGeco to locate and exploit oil and gas reserves, for delivery in 2014.

“The sector we have succeeded in penetrating is a new and important field of business for us,” said FSG managing director Peter Sierk.

FSG managed a first step into new business fields only recently when it received an order for two heavylift vessels from Dutch owner Rolldock.

Meanwhile, German yards delivered only 31 vessels during 2011 while they secured 28 fresh orders with a combined value of €3bn last year, according to statistics from German shipbuilders’ association. Yards are now trying to find new business fields.

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Greeks buy secondhand tirelessly



Greek ship investment in the first half of the year (January - June 2012) exceed USD 1.4bn, according to data released by Allied Shipbroking.

In the first six months of 2012 Greek owners purchased 77 vessels from a total of 444 vessels traded overall.

For dry bulk carriers, a total of USD 643 million were invested while USD 457 million was spent on tanker vessels and USD 352 million for containerships.

Allied Shipbroking notes that although S&P activity has halved in comparison to the same period in 2011, Greek owners have almost fully maintained their dynamic.

Meanwhile, Greek owners opted for secondhand tankers in May 2012, the Golden Destiny Monthly Market Report reveals. Six tanker vessels (532.597 dwt) were snapped up by Greeks for a total of USD 127.5 million while three bulk carriers (208.928 dwt), three containerships (169.600 dwt) and one gas carrier (4.316 dwt) were also acquired by Greek buyers for USD 66.5 million, USD 85 million and USD 2.5 million respectively.

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STX OSV pens PSV



STX OSV announced Norwegian owner Troms Offshore has inked a platform supply vessel newbuilding at the yard, having landed a long-term deal with Statoil, the Singapore-listed shipyard says.

STX OSV does not say how much the order for the 5,700-dwt PSV is worth.

Marten Lunde, CEO of the owner, said: “This is a milestone contract for Troms Offshore in developing a high quality shipping group based in Northern Norway with large, modern clean design platform supply vessels."

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Tanker Pacific to award aframax


Tanker Pacific of Singapore is looking to place a new order for aframax tankers.

Market sources say the company has been interested in yards in China and South Korea and have contacted them for the past six months for four or more vessels.

As Tanker Pacific cleared out all of its nine converted double-hull aframax tankers that it purchased from US-listed General Maritime Corp in 2006, it seems to re-build its aframax-tanker fleet.

Sources said, “There is talk that the company will firm up the project soon.”

Sources believe STX Offshore & Shipbuilding Dalian, Hanjin Heavy Industries & Construction (HHIC) of South Korea and Shanghai Waigaoqiao Shipbuilding of China are to be Tanker Pacific's preferred yards.

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Korean equip makers' export deals



South Korea's recently jointly held, by Busan, Ulsan and South Kyungsang province, consultation session for marine equipment exports has made a fruitful outcome.

Overall consultations value around $71m and $6m of export orders contracted.

According to South Kyungsang province on June 14, buyers from four countries - Japan, India, Singapore and the Philippines, as well as 85 marine equipment makers in Korea from Busan, Ulsan and South Kyungsang province have participated the session.

An official said, "It is not at all a small success, considering global economic slowdown and the session is for marine equipment, not a vessel."

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Scrapping "Seasonal Stagnancy"



Major ship breaking industries in India, etc., has suspended to secure orders before a rainy season and scrap price also turned downward, as well.

World largest ship breaker India saw no contract for demolition last week, while only two contracts signed in Bangladesh.

Sources forecast that volatile exchange rates, floating steel price, etc., have made the market unsteady and would cause scrap price to fall further.

Scrap price, which have reached $500 per ldt, turns out to have plunged to early $400 per ldt within a month.

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Daewoo built rig in Kazakhstan



South Korea's Ministry of Knowledge Economy (MKE) and Korea National Oil corporation (KNOC) announced that they held a naming ceremony for a newbuild Zhambyl drilling rig 'Caspian Explorer' at ERSAI Shipyard, Kuryk port, Kazakhstan, on June 14.

Korea signed an agreement to invest in newbuilding rig in February 2005, under the condition of owning shares of Zhambyl field. Then, MKE and KNOC awarded the newbuilding order at Daewoo Shipbuilding & Marine Engineering of South Korea in October 2008, with the North Caspian Sea, including Zhambyl field, etc., as the target drilling market.

The consortium, constituted by KNOC, SK, LG, etc., has invested in for the vessel and Daewoo constructed the drilling vessel jointly with ERSAI Shipyard in Kazakhstan.

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Norwegian PSV orders surge



Farstad Shipping is to pen two platform supply vessel newbuildings after winning long-term charters for the pair with Statoil.

Oslo-listed Farstad expects to order the newbuilds in the near future against the charters which will run for up to nine years.

In a statement to investors Farstad says the firm charters run for six years from delivery in late 2014. Three one-year options are also included.

It is understood Farstad is not the only owner to be teeing up an order for PSVs against period contracts with Statoil.

Atlantic Offshore is also placing a double PSV order having secured identical charters.

The Norwegian offshore vessel owner looks set to spend around NOK 700m ($117.52m) on the two units at an undisclosed compatriot yard.

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Evergreen 13,800TEUs collapse?


Evergreen 13,800TEUs collapse?

Evergreen's 13,800TEU newbuilding project through a long-term charter contract appears to be on the verge of collapse.

Korea Infrastructure Investments Asset Management Co, which was to order the ships, has reportedly been unable to raise the necessary funds so far.

The price for the vessels was reported to be less than $115m apiece, compared with as much as $170m for comparable vessels four years ago.

But it was the charter rate rather than the newbuilding price that raised eyebrows.

Kiamco had agreed to a hire rate of around $50,000 a day, brokers believe. Other owners were asking for at least $2,000 or $3,000 a day more. In addition, Evergreen negotiated a very low purchase option price.

“Kiamco and HHI both claim that the order is on track and subjects are due by the end of June,” said one broker.

“However, it seems that Evergreen is considering plans to re-open the dialogue with some of the owners who lost out to Kiamco in the first round.”


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Alfa-Bank finances Arctic newbuilds



Arctech Helsinki Shipyard and Alfa-Bank have agreed on a 100 million USD construction time financing package 9 June 2012.

The loan arrangement is related to the building projects of multi-functional supply vessels NB 506 and NB 507.

"Ensuring the loan was important for us. With the financial arrangement we are able to assure the undisturbed building of the vessels. Alfa-Bank also brings new possibilities for future projects", comments the Managing Director of Arctech Helsinki Shipyard, Esko Mustamäki.

At the moment Arctech is building three multipurpose icebreakers. Two of them are multi-functional supply vessels for Russian shipping company Sovcomflot and the latest order is for an innovative rescue vessel for Russian Ministry of Transport.

The supply vessels are to be delivered in spring 2013 and the rescue vessel in December 2013.

Alfa-Bank is Russia's largest private bank in terms of total assets, total equity, customer accounts and loan portfolio.

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NYSE-listed Greeks eye Korea



Greek shipowners who are already listed on New York Stock Exchange (NYSE) are looking for entering into the South Korean stock market.

According to Korea Exchange (KRX), Greek owners have expressed their intentions to be listed on KRX since last month and KRX started negotiation with NYSE.

The listing will be the secondary listing method of quoting a depositary receipt (DR).

A total of seven owners - Diana Shipping, Navios Maritime Partners, Navios Maritime Holdings, Safe Bulkers, Excel Maritime Carriers, Danaos and Paragon Shipping, are known to be interested in double listing on KRX.

An official from KRX said, "With no specific terms confirmed yet, we are proceeding with the secondary listing with securities companies."

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Kongsberg opens Wind Energy


Kongsberg opens Wind Energy

Kongsberg Maritime is to transfer offshore oil & gas expertise to wind energy sector.

The Kongsberg Group (KONGSBERG) has chosen the Kongsberg Maritime facility at Lade in Trondheim, Norway as the home of its new ‘Centre for Optimum Wind Park Operation'.

The new wind power division, is a joint venture between global marine technology developer Kongsberg Maritime and parent company KONGSBERG, and has been implemented to develop solutions for wind park management and operations that will ultimately lower the cost of wind power generation.

"Kongsberg Maritime is a world leading supplier of automation equipment to ships and the offshore sector. Our experience and technology is completely transferrable to the wind power segment and we believe that we can offer a strong portfolio of solutions to support wind park operational efficiency and predictability," comments Andreas Jagtøyen, Vice President, Merchant Marine Trondheim, Kongsberg Maritime.

The possibilities of Kongsberg Maritime's contribution to wind power generation are already being realised through the Windsense R&D project, which is a vital element of the company's commitment to the sector. The project is supported by the Research Council of Norway and headed by the new wind power division at Kongsberg Maritime Lade, in partnership with eight other companies and R&D institutions.

Wind park management and monitoring are the two main focuses of the new division. There is a clear case for transferring Kongsberg Maritime's proven maritime and offshore systems to benefit the production of wind power and to meet the challenges the sector faces.

Weather conditions can make wind parks inaccessible to personnel for long periods, and any stoppage results in major economic consequences, so the possibilities of advanced monitoring and automation systems are extremely attractive to operators. The wind park management focus will aim at maximum operational predictability and profitability of the wind park's power generation.

"As more and more offshore wind parks are built, good systems for remote monitoring and diagnostics, as well as calculating remaining economic life, will be particularly important," continues Jagtøyen. "Our focused technology development will result in sophisticated systems for monitoring and condition-based maintenance, thus reducing maintenance costs and non-scheduled downtime. Such a system has clear parallels to the solutions we develop for integrated operations in the offshore oil and gas sector."

The wind power sector is growing fast globally and KONGSBERG is committed to making a solid contribution to the targeted 30% reduction in cost price per kilowatt hour, which in turn will boost the competitiveness of wind power.


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