Friday, August 24, 2012

Sinotrans mull BC newbuild


Sinotrans mull BC newbuild

Sinotrans Shipping, a Hong Kong-listed subsidiary of China's state-owned Sinotrans & CSC group, is looking into opportunities to order new fuel-efficient bulk carriers.

But the shipowner is not very hurrying and may ink newbuildings toward the end of this year.

Particularly, it is interested in eco-friendly supramax and handysize bulkers.

Sinotrans Shipping now has no newbuildings on order after taking delivery of two bulkers in the first half of this year.



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Crowley eyes more PC


Crowley eyes more PC

Crowley Maritime Corp could order more Jones Act product tankers.

It recently bought two newbuildings from Aker Philadelphia Shipyard.

Robert Grune, vice president of the company, said that additional purchases would likely be driven by the demands of BP, Shell, ConocoPhillips, Chevron, etc.

"We are a service-based company and we are not speculative," he added. "We meet the requirements of our customer base."



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Technip nets subsea pipe


Technip nets subsea pipe

France’s Technip has been awarded a flexible pipe contract for Brunei Shell Petroleum’s Champion field, offshore Brunei.

Swiber Offshore Construction placed the order, covering the supply of 12 flexible flowlines totalling 19 kilometres long.

The pipes will be used by Brunei Shell for its Champion field, which is being redeveloped to increase production.

“This award is an important milestone for Technip as it confirms the cost-effectiveness of the flexible pipe solution for shallow-water field redevelopment in Asia,” Technip stated.



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272 LNGC Orders Coming!


272 LNGC Orders Coming!

Prospective US shale gas production and export could require 272 new LNG carriers, Barclays Capital says.

Currently, LNG carrier newbuilding orderbook is just around 59 vessels.

Barclays analysts said, "If all 136mtpa come on stream, that would require 272 LNG vessels."

"We have done the leg work on carrying capacity, travel times, turnaround times and likely destinations, and concluded that for every 1mtpa of US LNG export, we expect there to be demand for 1.5-2.0 modern full-size LNG vessels.”

"Modern LNG vessels cost around $200m, so the total LNG vessel investment could be as high as $54bn for the US LNG exports alone."
However, "We do not know how many of these projects will ultimately come online and forecasting that is outside of our mandate here," it added.



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Rosatom signs for nuclear icebreaker


 Rosatom signs for nuclear icebreaker

On the 23rd of August in Moscow on ROSATOM’s premises the signing of a contract for building of the pilot universal new generation nuclear icebreaker was held.

The contract was signed by Director General of Rosatomflot Vyacheslav Ruksa and Acting Director General of Baltijskiy Zavod-Sudostroyenie (shipbuilding) Artem Pidnik in the presence of Ivan Kamenskikh, First Deputy Director General and Director of the Nuclear Weapons Complex Directorate, and Dmitry Mironenkov, Vice President of the United Shipbuilding Corporation.

According to Kamenskikh, today the growth of a volume of shipments via the Northern Sea Route is observed and by 2018 there might be a shortage in capacities of the existing icebreaker fleet to solve all tasks of Russia in the Arctic. “Now, owing to the building of the new icebreaker, we can assuredly look into the future,” he noted.

An open tender for the right of signing the contract for building the pilot universal nuclear icebreaker of Project 22220 of 60 megawatt capacity was won by Baltijskiy Zavod-Sudostroyenie. The contract cost is RUB36.959 billion. The building process should be completed in December 2017.

Bids were invited on June 29 this year. According to the Federal Law No. 94-FZ of 21.07.2005, the contract will be awarded to Baltijskiy Zavod-Sudostroyenie.

By her technical characteristics, the universal nuclear icebreaker is a double-draught ship capable of operating in both the Northern Sea Route lines and rivers of the Arctic region, and of replacing the existing nuclear icebreakers Arktika and Taimyr. Owing to a greater width (34 m) than the existing icebreakers (30 m), the universal nuclear icebreaker will be able alone to steer tankers of up to 70,000 tons displacement in the Arctic. It will be for the first time that an icebreaker capable of passing 3-meter thick ice is built.

The icebreaker detailed design was developed by CDB Aisberg in 2009. The new nuclear-propelled ship will differ from the previous generation of icebreakers in a special ballast system, which will allow her changing draught from the maximum to minimum one over a certain period of time. Filling her ballast tanks with water, the nuclear icebreaker will “settle down” and raise her going in severe ice conditions. At the approach of the Siberian rivers where the ship’s draught should be not more than 8.5 meters, the ship will drain the ballast and plane up.

The nuclear power installation will use a new integral reactor RITM-200 designed by ROSATOM’s Nizhniy Novgorod-based OKBM Afrikantov. It will be more reliable, economical (the core needs refueling once in seven years) and nearly twice smaller than existing reactors.



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HMD profit plummets


HMD profit plummets

According to Hyundai Mipo Dockyard's regulatory filing on August 24, operating profit for the second quarter of 2012, on a consolidated basis, plummeted by 76.1% year-on-year to KRW 27.055bn ($23.9m).

During the same quarter, the Korean shipyard's turnover and net profit recorded KRW 1.09trn and KRW 21.642bn, declined by 6.4% and 75.6% year-on-year.



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GSI profit falls


GSI profit falls

Guangzhou Shipyard International saw its bottom line slump by two thirds to CNY 88.0m ($13.90m).

Its shipbuilding wing saw its margin shrink to below 5% as the company put together vessels with post-crash price tags.

On an operating level it ran to a loss of CNY 59m on the back of a provision on shipbuilding contracts.

“Under the double pressure of excess capacity of shipping market and shipbuilding, the shipbuilding market [experienced] further deterioration, and new shipbuilding orders dried up,” the yard said.



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TMT defaults on HMD handy


TMT defaults on HMD handy

Taiwan’s Today Makes Tomorrow (TMT) has failed to pay for a handysize newbuilding at Hyundai Mipo Dockyard in Korea.

The newbuilding is now reportedly on sales block as the owner had failed to keep up payments, HMD claims.

Brokers say the Ulsan-based shipyard is targeting $19m for the 37,000-dwt vessel.

TMT is said to have requested the yard further delay of the ship's delivery but HMD seems to have decided to put the ship on the resale market.



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Daewoo & Rilin into partnership


Daewoo & Rilin into partnership

Daewoo Shipbuilding & Marine Engineering of Korea and China Rilin Group will work together to diversify business portfolios.

Both parties have signed a cooperation agreement in Liaoning, China on August 22, on the vessel repair, offshore facility construction and steel structure fabrication.

A governmental official from Liaoning said that Liaoning's one of key industries, shipbuilding, has a great potential with stable business foundation, such as infrastructure, superior technical skills and personnels, etc.

He added that we hope both companies to have a win-win effect through a close cooperation.



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