STX Dalian wins 207K BC

Polaris Shipping of Korea has ordered a 207,000-dwt Newcastlemax bulker with one more option at STX Offshore & Shipbuilding's Dalian facility in China.

Newbuilding prices is said to be near $50m per ship for delivery in September 2014.

The vessel is to be deployed into a long-term contract of affreightment with Korea Electric Power.

This is the first time for the shipowner to place a newbuilding order.

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New order undaunted by lower price"

Lower price would only increase sales and purchase activity in shipping market and newbuilding investment seems to be made mainly by ship capacity, but by the prices.

Park Mu-Hyun, an analyst at E*Trade Securities said, "Newbuilding order for boxship is largely affected by owners' competition for service market share. Therefore, low pricing is not enough to surge newbuilding investment."

And explained, "Also, after global economic depression, second-hand prices fall much bigger than newbuilding prices."

Park said Korean shipyard have been placed orders for mostly fuel-efficient and space-efficient vessels.

He added, "Shipping market is facing a serious tonnage oversupply problem, which seems to continue for the next few years, then newbuilding price will drop further."

And emphasized, "Comparing with current fleet, owners would better invest in newly-developed design."

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Sungdong names 1st purse seiner

Sungdong Shipbuilding & Marine Engineering has built the first Korean-built cutting-edge tuna purse seiner (fishing vessel).

The Korean shipbuilder of middle standing held a naming ceremony for the 1,900-ton purse seiner 'SAJO COLUMBIA' for SAJO Group of Korea on Thursday.

The vessel has a length of 79.6m, a breadth of 14.5m and a height of 8.5m with an average cruising speed of 15.4 knots.

It has cutting edge equipments on board such as cold storage, fish finder, sonar, etc.

It is for the first time that a purse seiner has been built systematically at Korean shipyard.

Besides the SAJO COLUMBIA, SAJO has one more same-type vessel on order at Sungdong for delivery toward the end of 2012.

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Overblown MR market

Surging investment in MR tanker segment seems to bring disappointment.

Although the MR orderbook stands at just over 10% of the fleet and the demand is likely to grow by refinery development in the Middle East, the real potential of the market may have been overblown, Intermodal explains.

George Lazaridis says bigger vessels are to benefit most, explaining "At the same time as the voyage distance starts to increase, these larger sizes become better suited to take advantage of these routes due to the extra benefits offered by the economies of scale.”

Added, “Large product tankers such as LR1s and LR2s are most likely to benefit, leaving the MR tanker range oversupplied and with slacking demand.”

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Sanko sells off OSV pair

Bankrupt Sanko Steamship has continued to cash in its fleet of offshore support vessels, following after two newbuilding platform supply bessels handed to Swire Pacific Offshore.

Middle Eastern heavyweight Topaz Marine has been linked with the purchase of the 102-tbp Sanko Dragon (built 2006), brokers say.

Also Sanko sells 180-tbp AHTS newbuilding Sanko Eminence to Easter Navigation of Singapore.

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Technip gains from subsea boom

French engineering company Technip has posted a considerable jump in revenue from its subsea division following several new orders.

The company’s second quarter results reported a group revenue of about €2 billion (US$2.4 billion) and an operating income of €201 million (up from €176 million a year ago).

The company recorded an order intake for the quarter of about €2.5 billion and a backlog of more than €12.7 billion, with subsea accounting for almost half.

Technip’s net income for the quarter remained on par with last year, at €134 million.

It has forecasted a group revenue of between €7.65 and €8.00 billion for the full year.

Technip is eyeing substantial orders in its onshore and offshore division, including an engineering, procurement and construction project in Saudi Arabia and fabrication contracts for the Petronas floating liquefied natural gas project in Malaysia, and the Ichthys floating production, storage and offloading vessel in Australia.

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Lamprell's H1 profit to plummet

Fabricator Lamprell has warned its first-half loss will be more than double previously forecasted as delayed deliveries add to its financial woes, and warned of a full-year loss for the first time.

After a further financial review, it is expected first half losses of around $45 million, having previously warned it would go into the red to the tune of between $15 and $20 million.

The company cited additional costs stemming from the delayed delivery of its Windcarrier 1 and 2 projects for the latest warning, the third in little more than three months for the troubled outfit.

The company stressed that newbuild jack-up orders were not subject to any further delays, with equipment deliveries proceeding according to previously revised schedules.

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SNC-Lavalin pens Statoil's FEED

SNC-Lavalin announced that it has been awarded a contract by Statoil ASA to carry out the front-end engineering design (FEED) for an approximately 20,000-tonne substructure, part of the Bressay offshore development located in the UK sector of the North Sea.

“We’re very pleased to continue supporting Statoil on the landmark Mariner and Bressay projects,” said Andy Mackintosh, Executive Vice-President, SNC-Lavalin Group Inc.

“This award builds on the successful completion of the Mariner Jacket FEED, and consolidates SNC-Lavalin’s position as a leading engineering contractor for barge-launched jackets.”

The jacket will be located at a water depth of approximately 92 metres, and support operations for up to 50 wells, which will feed a large production, drilling and quarters (PDQ) topside facility.

Statoil expects a final investment decision in late 2013 and first oil by early 2018.

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Orient authorized work out program

Orient Shipyard, a medium sized shipyard located in Busan, Korea, has been authorized for its court receivership by the Busan District Court on July 25, long awaited news since it has filed for company rehabilitation procedure in July 2010.

The shipyard, owning two yards in Busan and Gwangyang, announced that it will do its best in regards of court receivership, by reorganizing business and focusing on ship repair and plant production.

Orient Shipyard, established in 1995, specializes in repairing vessels and in 2007 it entered newbuilding arena. However, amid shipping and shipbuilding market downturn by global financial crisis in 2008, the Korean yard filed for rehabilitation procedure in July 2010 and has been managed by the court.

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Sasebo sees the loss

Japanese shipbuilder Sasebo Heavy Industries has fallen to a red in the first quarter of Fiscal year 2012 (April 1-June 30).

The yard said its net deficit to 30 June was JPY 416m ($5.32m), compared to a profit of JPY 1.85bn in the same three months of 2011, while revenue declined to JPY 10.93bn against JPY 18.06bn.

And the company is predicting a loss for the full year of JPY 3.3bn, against a profit of JPY 734m in the previous 12 months.

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Bahrain's ship repair grows

Bahrain's ship repair business registered between 10 and 15 per cent growth in the first six months of the year compared with 2011, it was revealed.

Arab Shipbuilding and Repair Yard Company (Asry) chief executive Chris Potter said this was a significant improvement over the previous year, when business was badly affected due to regional tensions and clients' reluctance to come to the region.

"Asry's offshore business also compensated well for all the troubles that we otherwise had," Mr Potter said.

He said the company would continue to look at diversifying in the future to keep up with the ship repair yards all over the world.

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Temperature Regulating Valve

Eagle TC01 Direct Type Temperature Regulating Valve is designed for steam and thermal oil. The design of this valve is simple to ensure that easy to install, steady operating and does not need assistant power. This valve does not need strainer because the screen is installed on inside body.

Valve Type	Direct Operated
Pressure Rating	ANSI 300 (JIS 16K)
Design Temperature	150 ℃
Valve Size	1/2“∼1 1/2“ (15 ∼40 ㎜)
Applicable Fluid	Steam, Hot Water, Thermal Oil
Max Inlet	10 ㎏f/㎠
Leakage Class	ANSI IV (0.01% of Rated Cv)

ITEM	ASTM	JIS
Body & Bonnet	A216 Gr, WCB A536 Gr, 65.45.12 B584, C836	SCPH2 FCD45 BC6
Seat	A276, 304	SUS304
Disc	A276, 304	SUS304

BY Controls, Inc.
#850-2 Cheongcheon-ri, Jillye-Myeon, Gimhae city, Gyeongsangnam-Do,  621-884
Phone 82-55-345-6110
Fax 82-55-345-6115
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