Changxing Shipyard Repairs MV Atlantic Monterrey

 

MV Atlantic Monterrey started her new voyage from Changxing Shipyard along with whistle on 5th April. The vessel belongs to Singapore PCL company and she was a 25-year old bulk carrier. There were lots of problems existed in hatch covers especially No.2 hatch cover. The machinery workshop operation head Mr. Zhu Jianhua found that the hatch cover wheel centre excursion after his inspection with the working team. He immediately started to re-positioning the wheel centre and renew the rubber gasket from No.1 to No.4 hatch covers. The adjusting job was difficult due to the hatch coaming steel renewal job and the chain wheel renewal. The yard management and machinery workshop managers paid high attention to this job and yard’s GM, Mr. Zhang lingen, came on board to supervise the working procedure. They finished the hatch cover adjusting job and passed the hatch cover hose test only in a short span of four days. The machinery workshop working team positively responded the requirement “ Strive for the famous brand and ensure the high-level quality” from the yard leaders.
Source: CSGCIC

Posted on 4/14/2011 / 0 comments / Read More

Christening and Launching for New Vessel Held at Barkmeijer Shipyard

After christening and name giving by Miss Deborah Danser, m.v. Marietje Deborah was launched at Barkmeijer Shipyards in Stroobos on April 14th. The Marietje Deborah is the third in a series of four 1A ice-classed nozzle fitted 8300 tons vessels Barkmeijer is building for the Danser-Van Gent family in Delfzijl.

Principal particulars: length overall 126,20 m., width 15,20 m., moulded depth 9,50 m., container capacity 305 TEU of which 125 on deck, main engine: 3060 kW B&W MAN-diesel.

The expected delivery of m.v. Marietje Deborah will be mid July.

 ©photos Wilto Eekhof and Henk Zuur
Source: WAGENBORG

Posted on 4/14/2011 / 0 comments / Read More

Japanese Ship Orders Doubled in FY2010

Japanese export ship orders made a strong recovery in fiscal 2010, which ended on March 31, after sinking at their fastest pace in 17 years in the previous fiscal year.
[Read More]
Source: Journal of Commerce

Posted on 4/14/2011 / 0 comments / Read More

Hyundai Mipo to benefit from increased small-ship scrapping

Hyundai Mipo Dockyard, the world's fifth largest shipbuilder will benefit from increased small-ship scrapping, a South Korean brokerage said Thursday.
[Read More]
Source: Xinhua

Posted on 4/14/2011 / 0 comments / Read More

LDA to grow dry bulk fleet as ships stay cheap

French shipping group Louis Dreyfus Armateurs (LDA) said it could acquire more vessels on top of a recent order with a Chinese builder as it seeks to profit from attractive prices.

LDA is pursuing a "counter-cyclical" strategy to expand its fleet during a current downturn in freight, with the expectation the market will have recovered when the new ships are delivered, Philippe Louis-Dreyfus, the group's president, told reporters.
[Read More]

Source: Reuters, Forexpros

Posted on 4/14/2011 / 0 comments / Read More

Multipurpose Shipping Market Review and Forecast 2011

The outlook for the general cargo market is far better than it has been for some years. With healthy demand and a sensible orderbook, the only caveat to that rosy outlook when this sector emerges from the downturn is the threat of competition from both dry bulk tonnage and “pure” container carriers. Both these sectors are now squeezing the breakbulk market. 

The cargoes carried by multipurpose vessels straddle the dry bulk and containership markets, so it is natural that these segments compete with MPVs for cargoes. More than that, the markets driving these sectors also drive the MPV market and the three are closely linked when it comes to future demand. In order to forecast market share, it is therefore necessary to look at how both these sectors are faring in their traditional roles.

The Drewry teams for the dry bulk and containership sectors see positive demand growth for the mid-term, albeit still at historically subdued levels. This would imply that the MPV share of these sectors should remain steady, however this does not appear to be the case.

There is always another side to the balance equation – the supply of vessels able to carry these commodities. Handy bulk carriers are the main competitor for the breakbulk demand and the dry bulk orderbook is, to say the least, overfull. This means that competition for cargoes is expected to be fierce over the next few years. 

The other side of the MPV market – general and project cargo – is also facing increasing competition from the containership and Ro-Ro fleets. Interestingly, the recession has diminished the threat from the container market as the orderbook for that sector has reduced through cancellations and slippage. That said, the current level of over-age tonnage is barely 3%, while the orderbook is a steady 24% of the current fleet. That is somewhat less than the same comparison for the MPV fleet (28%) and Handysize (34%) but still represents a steady stream of newbuilding deliveries in the medium term. These deliveries, coupled with the improving demand scenario for container volumes, should improve the supply-demand balance within the containership sector and should direct vessels away from the MPV market, so having a positive effect on rates.

Given that the MPV share of the pure container market is so low (less than 2%) it is assumed this is unlikely to show any significant change over the period. More concerning is whether – or indeed by how much – this sector will encroach on the general and project cargo demand. A number of container lines are already positioning themselves as project carriers and it is here that the real threat to the traditional MPV demand now lies.
Source: Drewry

Posted on 4/14/2011 / 0 comments / Read More

Positive trend in ship safety, says DNV president

Singapore, 13.04.2011: “Year on year improvements in ship safety is now turning into a negative trend. This is extremely worrying and requires a stronger focus on competence development both onboard and onshore,” DNV’s President Tor E. Svensen said at Sea Asia.

“Statistics show that the accident frequency has started rising from a historic low. This trend is supported by increased pay-out from the insurance companies. Technology, rules and compliance will never bring us to the expected level of safety without focusing stronger on the human element,” Tor E. Svensen said.

“Historically, the safety focus on shipping has been on technical improvements. Most employees dealing with the operation of the vessel in a shipping company have a technical background. Audits and inspections are strongly focused on technical compliance. This technical focus has brought major improvements to ship safety. Now,” Mr. Svensen said, “is time to increase focus on the soft issues.”

“The improvement potential is great,” Svensen claims. “DNV has made some observations when performing audit and projects for shipping companies. These show that much of the training offered could be more effective with more time spent on actual training of higher quality. Shipping companies struggle to deliver training on soft skills, and few companies measure the effects of their training.”

Possible initiatives to improve safety level include safety culture mapping, crew resource management training, and safety performance monitoring through leading and lagging indicators.

“Public and regulatory focus has moved towards environmental risk and away from human safety and personnel risk. We need to re-establish the balance between safety and environmental risk. Zero tolerance to loss of human life is equally important as zero environmental damage,” Tor E. Svensen said.
Source: DNV

Posted on 4/14/2011 / 0 comments / Read More

Attacks off the Somali coast drive piracy to record high, reports IMB

Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, the International Chamber of Commerce (ICC) International Maritime Bureau’s (IMB) global piracy report revealed today. The sharp rise was driven by a surge in piracy off the coast of Somalia, where 97 attacks were recorded in the first quarter of 2011, up from 35 in the same period last year.

Worldwide in the first quarter of 2011, 18 vessels were hijacked, 344 crew members were taken hostage, and six were kidnapped, IMB reported. A further 45 vessels were boarded, and 45 more reported being fired upon.

“Figures for piracy and armed robbery at sea in the past three months are higher than we’ve ever recorded in the first quarter of any past year,” said Pottengal Mukundan, Director of IMB, whose Piracy Reporting Centre has monitored piracy worldwide since 1991.

In the first three months of 2011, pirates murdered seven crew members and injured 34. Just two injuries were reported in the first quarter of 2006.

Of the 18 ships hijacked worldwide in the first three months of the year, 15 were captured off the east coast of Somalia, in and around the Arabian Sea and one in the Gulf of Aden. In this area alone, 299 people were taken as hostage and a further six were kidnapped from their vessel. At their last count, on 31 March, IMB figures showed that Somali pirates were holding captive 596 crew members on 28 ships.

“We’re seeing a dramatic increase in the violence and techniques used by pirates in the seas off Somalia,” said Captain Mukundan.

He added: “The overwhelming number of vessels hijacked off Somalia took place east and north east of the Gulf of Aden. The positions of some of the attackers’ mother ships are known. It is vital that strong action is taken against these mother ships to prevent further hijackings.”

Large tankers carrying oil and other flammable chemicals are particularly vulnerable to firearm attack.  Captain Mukundan said: “Three big tankers of over 100,000 tonnes deadweight have been hijacked off the Horn of Africa this year.  Of a total of 97 vessels attacked in the region, 37 were tankers and of these, 20 had a deadweight of more than 100,000 tonnes.”

A number of countries are employing their navies to take a tough stance against piracy. In a recent show of force, commended by the IMB, the Indian navy captured 61 Somali pirates on a hijacked ship off India’s west coast.

Elsewhere, in the first quarter of 2011 nine incidents were reported off Malaysia, including the hijacking of a tug and barge off Tioman Island. Vessels were boarded in seven incidents by robbers armed with guns and knives.

Five incidents have been recorded for Nigeria, with three attacks against vessels in Lagos. Crews in the area are reporting increased violence, including one incident where all 27 crew members were injured.  IMB’s concerns about an expansion of Nigerian-style piracy have been heightened by the hijacking of a chemical tanker off neighbouring Benin, which its captors finally directed to Lagos.

IMB’s Piracy Reporting Centre (PRC) is the only manned centre to receive reports of pirate attacks 24 hours a day from across the globe. IMB strongly urges all shipmasters and owners to report all actual, attempted and suspected piracy and armed robbery incidents to the IMB Piracy Reporting Centre. This first step in the response chain is vital to ensuring that adequate resources are allocated by authorities to tackle piracy. Transparent statistics from an independent, non-political, international organization can act as a catalyst to achieve this goal.
Source: ICC Commercial Crime Services

Posted on 4/14/2011 / 0 comments / Read More

Korea regains top shipbuilding spot

Korea recaptured its status as the world’s leading shipbuilding nation by new orders in the first quarter by securing more deals for large, value-added vessels than China, a government report showed yesterday.
[Read More]
Source: Korea JoongAng Daily

Posted on 4/14/2011 / 0 comments / Read More

Dry bulk market keeps on falling, on low demand and high supply

The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterday to end the session down to 1,309 points, a daily slump of 1.13%. On the positive side, the Capesize market stopped tis fall, to end the session marginally higher at 0.19 percent to 1,573 points. At the same time, the constant fall of the panamax sector finally led rates lower than Capesizes. Since the beginning of the year, Panamaxes had been the top earners of the dry bulk market, in a sector’s paradox that tended to become the norm. Yesterday, the panamax segment lost further ground to end down by 2.40 percent.
[Read More]
Source: Hellenic Shipping News

Posted on 4/14/2011 / 0 comments / Read More

Unique ABB solution for power supply to Stena Line’s vessels at Port of Gothenburg

Clean, renewable electricity from onshore means that Stena Line’s vessels Stena Germanica and Stena Scandinavica now can shut off their diesel generators during their stay at Port of Gothenburg. This pioneering project has gained a lot of interest among shipowners, ports and power utilities all over Europe.

“One important reason behind this interest is that we at ABB are pioneering a connection technology that converts 50 Hz – the standard AC frequency in Europe – to 60 Hz, which most vessels use as their system frequency, by the use of frequency converters. Furthermore, this is the largest shore-to-ship connection in terms of effect capacity in Europe ever so far,” said Ismir Fazlagic, product responsible for onshore connections at ABB.

The Gothenburg solution can therefore, also from an international perspective, imply a large-scale breakthrough for environment-friendly shore-to-ship power supply.

“The benefits are so obvious. As the diesel generators are shut off, CO2 emissions are reduced to zero when the electricity is generated from renewable sources like water, wind or solar power. During a 10-hour stay in port, the diesel generators of one single ship can produce 60 tons of carbon dioxide. In addition to this, onshore power supply means less noise in the port with surroundings and allows a more efficient maintenance of onboard equipment.

In many parts of the world, preparations are now at hand to make ports more environment friendly by using onshore power. A vital part of this process is to develop a common international standard for shore-to-ship connections.

“ABB is fully prepared with ready solutions according to the standard that is expected to come in 2011. Our conversion technology for high-voltage connection of ships with system frequency of 60 Hz is unique, now providing completely new possibilities for both ship owners and ports,” said Ismir Fazlagic.

The ABB delivery included, apart from design and commissioning, power transformers, frequency converters, medium-voltage switchgear, building, ventilation equipment as well as monitoring and safety equipment.

“We supply complete systems, optimized for efficient and sensible onshore connection of ships and based on module-based solutions. This means that they can easily be expanded, step by step according to the needs,” added Fazlagic.

In addition, the modular substations provide improved security as well as wind and weather protection. The design of the substation buildings can also easily be adapted to the surroundings and furthermore, the complete infrastructure requires minimal footprint on the dock.

ABB was the world pioneer in providing high-voltage power to ships via cable from the grid onshore. It was actually here in Gothenburg that the very first installation was made in 2000, which later helped Port of Gothenburg win two environmental awards: EU:s ”Clean Marine Award 2004” och Lloyd´s Lists ” Clean Seas Award 2008.”
Source: ABB

Posted on 4/14/2011 / 0 comments / Read More

PETROGRAND AB HAS BEEN GRANTED MUROMSKIJ-2

Petrogrand AB has through its Russian subsidiary Petrogrand Invest LLC, free of charge been granted the rights to, during a 5 year period, perform geological surveys on the license area Muromskij-2, in the Tomsk-region. Petrogrand will, after test drillings and when the oil reserve is confirmed, apply for a 20 year exploration and oil production license.

According to data from the State Committee for Natural Resources, the reserves have been determined as 39.4 million tons, (295 million barrels)according to the Russian classification.

 When the application period expired on 4 February, one additional application had been submitted. The reason for the delays is that Petrogrand informed the authorities of that the other applicant missed a proper company registration. The following investigation by the authorities showed that this was correct and the application failed.

Petrogrand will immediately check the status and quality of earlier surveys on the license area. We will also soonest intensify our work to update and finalize the survey, in order to safe guard that test drillings can be started in the license area during the winter 2011/2012, says Maks Grinfeld, CEO Petrogrand.

Petrogrand will continuously keep the market informed about the work progress in the license area.

Petrogrand'sbusiness concept is to carry on oil production via acquired Russian oil companies and oil licenses. Petrogrand will also manage, enhance and sell Russian oil assets.
Source: Petrogrand

Posted on 4/14/2011 / 0 comments / Read More

Protesters told to stay away from oil survey vessel

New Zealand police on Tuesday issued environmental protestors notices to ensure their boats do not get too close to an oil and gas survey ship or its support vessel off North Island's East Cape.
[Read More]
Source: People's Daily

Posted on 4/14/2011 / 0 comments / Read More

RasGas’ ship “Simaisma” first to enter N-KOM’s new dry dock in Ras Laffan

N-KOM’s (Nakilat-Keppel Offshore Marine) new state-of-the-art dry dock at Ras Laffan Port has received its first ship - the RasGas’ chartered LNG Vessel, Simaisma. This historic event marks a newphase for the RasGas fleet and RasGas’ drive to ensure the security and reliability of LNG supply.

RasGas chartered vessel, Simaisma, with its 23-strong crew, Captain Ilias-Chrysovaladis Kattidenios and Technical Director Mr Andreas Spertos of Maran Gas Maritime were greeted by Mr Tom Mc Hale, RasGas’ Acting Managing Director and his wife Mrs Sinead Mc Hale who is the ship’s sponsor. Together, they jointly presented a gift to Captain Ilias-Chrysovaladis Kattidenios in commemoration of this first dry docking at the new facilities.

Tom Mc Hale stated: “This is an important milestone for RasGas, our shipping operations and the country, placing Qatar at the forefront of not only regional, but global port development and the shipping industry.”

RasGas' chartered LNG fleet is an integral part of the company's LNG supply chain and strategically, one of the most important links to ensure secure and reliable delivery of LNG to RasGas' global customer bases. These LNG ships are specifically designed to handle the low temperature of LNG, as the safe transportation of the liquefied gas is essential. The RasGas fleet contains Conventional, Q-Flex and Q-Max Vessels that are double-hulled to provide a double barrier for cargo protection, making RasGas’ LNG Vessels some of the safest and most advanced on the seas.

To ensure the highest standards in safety, the RasGas fleet of 27 vessels demands regular maintenance and has, until recently, required periodic dry docking abroad asQatar did not have the necessary facilities. The completion of N-KOM’s new facility inRas Laffan Port reduces the need for docking in foreign ports for maintenance and repair – further underlining RasGas’ position as a secure and reliable supplier of LNG with a sustainable model that ensures the integrity of their supply chain.

“RasGas aims to provide fast, secure and cost-efficient shipping solutions to its clients. The new dry dock at N-KOM facilitates this and is another first for Qatar” added Mc Hale.

N-KOM Dry Dock was completed in the fourth quarter of 2010 and the docking of RasGas’ Simaisma represents the first in a number of phases that will see this dry docking facility grow into one of the largest in the world, providing maintenance and repair services for vessels in various industries as well as ship building facilities.
Source: RASGAS

Posted on 4/14/2011 / 0 comments / Read More

Niko, Centrica to invest $70 mln in Trinidad project

Canada's Niko Resources (NKO.TO) and Britain's Centrica (CNA.L) will invest $70 million in three offshore exploration wells this year in Trinidad and Tobago, the Caribbean's leading oil and natural gas producer, officials said on Wednesday.
[Read More]
Source: Reuters

Posted on 4/14/2011 / 0 comments / Read More

AMINEX: NYUNI EXTENSION GRANTED

Aminex PLC (‘Aminex’ or the ‘Company’) is pleased to announce that it has received a formal extension of 6 months to the Nyuni East Songo-Songo Productions Sharing Agreement (‘Nyuni PSA’) from the Tanzanian Ministry of Energy and Minerals. This extension is to cover the likely eventuality that the Nyuni-2 well, due to be spudded in the next few weeks, will not be completed within the life of the existing Nyuni PSA which expires this year.

As announced on 12 April, the Minister of Energy and Minerals has now signed a 25-year Development Licence for the Kiliwani North Gas Field. This licence area has been carved out from the Nyuni PSA.

Terms for a new and expanded PSA to replace the expiring Nyuni PSA have been negotiated and agreed and are expected to be formally concluded in due course.

Aminex chairman Brian Hall commented: “we are very grateful for the co-operation we have received from the Tanzanian authorities in facilitating completion of our current drilling programme and we are looking forward to continuing activity in this interesting part of the East African coastal margin”.

The Nyuni PSA is held as follows:
Ndovu Resources Ltd. 65% (operator)
RAK Gas Commission 25%
Bounty Oil  5%
Key Petroleum 5
Source: Aminex

Posted on 4/14/2011 / 0 comments / Read More

Ukraine, Vanco Reach Black Sea Oil Settlement, Interfax Reports

Ukraine and Vanco Prykerchenska Ltd. have reached a settlement on Black Sea oil exploration, Interfax-Ukraine news agency reported, citing Justice Minister Oleksandr Lavrynovych.
[Read More]
Source: Bloomberg

Posted on 4/14/2011 / 0 comments / Read More

Shtokman partners insist gas to flow in 2016

Gazprom (GAZP.MM), Total (TOTF.PA) and Statoil (STL.OL), the partners in Shtokman Development, confirmed they would start pumping gas from the Barents Sea field in 2016 but delayed an investment decision.
[Read More]
Source: Reuters

Posted on 4/14/2011 / 0 comments / Read More

Marine Well Containment Company Welcomes Statoil

HOUSTON--(BUSINESS WIRE)--The Marine Well Containment Company (MWCC) announced today that Statoil has joined as a member.

“We welcome Statoil as a member of the Marine Well Containment Company. As part of MWCC, Statoil joins our effort to improve the containment and response capability in the deepwater Gulf of Mexico and be continuously ready to respond in the event of a future deepwater well control incident.”

Marty Massey, MWCC chief executive officer, said, “We welcome Statoil as a member of the Marine Well Containment Company. As part of MWCC, Statoil joins our effort to improve the containment and response capability in the deepwater Gulf of Mexico and be continuously ready to respond in the event of a future deepwater well control incident.”

Bill Maloney, Statoil executive vice president, North America development and production, said, “Our membership underpins Statoil’s continued and strong commitment to the Gulf of Mexico. The equipment and capabilities developed by MWCC are important to build confidence and ensure safe deepwater operations as we resume drilling in the area. Statoil plans to actively contribute to the further development of the MWCC and its well containment solutions.”

Other MWCC members include ExxonMobil, Chevron, ConocoPhillips, Shell, BP, Apache, Anadarko and BHP Billiton.

System equipment and services is available to members and non-members. Non-members will be able to enter into agreements for access to the MWCC system on a per well fee basis.

The company’s interim well containment system is ready for deployment today and is capable of operating in a water depth of up to 8,000 feet and processing up to 60,000 barrels of fluid per day. Work is also under way to expand the system to operate in a water depth of up to 10,000 feet and process up to 100,000 barrels of fluid per day for delivery in 2012.
Source: Business Wire

Posted on 4/14/2011 / 0 comments / Read More

BP and Rosneft Extend Share Swap Deadline

BP announced today that it has agreed with Rosneft to extend the deadline for completing the share swap agreement (previously announced on 14 January) to 16 May 2011. The agreement between the two companies followed the 8 April decision of the arbitral tribunal to allow them to discuss extension of the deadline. This means that the share swap agreement will now not terminate on 14 April 2011.

The share swap agreement, between BP and Rosneft, together with the related Arctic Opportunity, were originally announced on 14 January 2011. Both the share swap agreement and the Arctic Opportunity remain subject to an interim injunction. 

BP intends to continue with the arbitration process to obtain a final award on all outstanding issues, including whether or not the interim injunction should continue. 

BP remains fully committed to TNK-BP as its primary business vehicle in Russia and fully supports its strategy and investment programme, which should ensure its success for decades to come. BP also owns a 1.3% interest in Rosneft and has been exploring offshore Sakhalin for over a decade and engaging in Arctic studies.
Source: BP

Posted on 4/14/2011 / 0 comments / Read More

Statoil finds oil near Peregrino

A new oil find has been made by Statoil immediately adjacent the Peregrino field in the Campos Basin offshore Brazil.

The Peregrino A wellhead platform

An exploration well drilled in the Peregrino South structure a few kilometres south of Peregrino has encountered oil in sandstones of the Carapebus geological formation.

A significant gross oil column of 130 metres has been proven in the well and further work will be performed to confirm the volumes. 

The drilling operation is still ongoing to penetrate deeper reservoir units and explore additional upside potential below the main reservoir unit.

Significant upside

“The results confirm the significant potential in the Peregrino area and underline the beliefs we have had in the upside,” says Tim Dodson, executive vice president for Exploration in Statoil.

“The well verifies the upside potential and will together with the Peregrino Southwest discovery from 2007 play an important role in further development of the Peregrino area.”

Tim Dodson, executive vice president for Exploration in Statoil

“The results will indeed be implemented into our plans for further development of the field,” says Kjetil Hove, head of Statoil’s Brazil activities and vice president in the company’s Development and Production International business area.

Following the completion of the Peregrino South well, one additional appraisal well in the Peregrino Southwest structure will be drilled to conclude the overall size of the new development.

Peregrino start-up

Oil production from the Peregrino field started last week and will gradually ramp up to a plateau of 100,000 barrels of oil equivalent per day, making Statoil an important long-term operator and partner in Brazil’s growing oil and gas industry.

Kjetil Hove, head of Statoil’s Brazil activities

The initial development of the field is estimated to contain 300 to 600 recoverable million barrels of oil equivalents, and the new discovery will add additional volumes going forward.

Drilling of the well is being carried out by the Blackford Dolphin rig at a water depth of 120 metres.

Operated by Statoil, the Peregrino field is 85 kilometres off the Brazilian coast from Rio de Janeiro. In May 2010 Statoil sold a 40% stake of the Peregrino field to the Sinochem Group. Statoil holds 60% ownership and the operatorship of the field and Sinochem the remaining 40%. The closing of the transaction is pending governmental approvals.
Source: Statoil

Posted on 4/14/2011 / 0 comments / Read More

Wood Group Kenny awarded engineering contract with Woodside

Wood Group Kenny has been awarded a contract to support the Browse liquefied natural gas (LNG) development located offshore in Western Australia's Kimberley region, approximately 425km northwest of Broome.

Leading international subsea engineering company, J P Kenny Pty, together with its related Wood Group Kenny sister companies, will perform subsea and pipelines front end engineering design (FEED) for Browse. The FEED project commenced in February 2011 and will take place over the next 12-15 months based at the new Browse Project office in Perth. The first gas from Browse is expected in 2017.

Wood Group Kenny is also participating in the riser FEED work for Browse, through MCS Kenny, and will support Aker Solutions in delivering design and engineering solutions for the steel catenary risers (SCRs) on Browse.

Steve Wayman, CEO, Wood Group Kenny said, "We are delighted to be working with Woodside on the highly prestigious Browse development. This is a technically demanding and complex deepwater development that will enable us to demonstrate our continuing commitment to excellence in international offshore projects."

Morgan Harland, subsea and pipelines manager for Woodside Energy said, "Browse is one of the largest offshore developments currently being undertaken worldwide. Wood Group has significant subsea and pipeline engineering skills and expertise and we look forward to working with Wood Group and our partners on the successful completion of these important engineering contracts."
Source: Wood Group

Posted on 4/14/2011 / 0 comments / Read More

OSX Brasil Receives Order for Three New FPSO Units from OGX

OSX has received from its client OGX Petróleo e Gás (“OGX”) an order for 3 (three) new FPSO units (Floating, Production, Storage and Offloading), to be chartered for 20 years by OGX, according to the strategic cooperation contract existing between the two companies, to serve the oil and gas production program of OGX.

As a result, OSX’s firm order book has nearly doubled its value, increasing from US$ 2.5 billion to US$ 4.8 billion approximately.

The 3 new FPSOs of OSX will follow the “Flex” concept, already applied for FPSO OSX-2, which allows the processing of different types of oil, reaffirming OSX’s technological capacity for designing integrated solutions for the offshore industry.

“The confirmation of this order for 3 additional FPSOs nearly doubles the value of our current order book and materializes our expectations for OSX´s business plan. It is another demonstration of the success of the exploratory campaign of our client OGX, and of the excellent perspectives for oil production in Brazil.”, said Luiz Eduardo Carneiro, OSX´s CEO.
Source: OSX

Posted on 4/14/2011 / 0 comments / Read More

NAUTILUS FORMS STRATEGIC PARTNERSHIP AND SECURES VESSEL

Nautilus Minerals Inc.'s plan to open a new frontier of seafloor resource production has taken a major step forward, with the formation of a strategic partnership with German shipping company Harren & Partner.

A joint venture company is to be formed to own and operate a production support vessel which will serve as the operational base for Nautilus to produce high-grade copper and gold ore at its first development project, Solwara 1, in the Bismarck Sea of Papua New Guinea (PNG).

The vessel will be the floating platform for the mobilization and remote operation of production machinery operating on the seafloor at water depths of approximately 1,600 metres. The seafloor production tools will cut and gather ore which will be pumped in slurry form to the production support vessel, where it will be processed through a dewatering plant before transfer to barges for transport and subsequent treatment.

Under the terms of the strategic partnership, Harren will design and construct the vessel at a cost of approximately 127 million euros ($167-million (U.S.)), with delivery scheduled for the first half of 2013.

On delivery, the vessel will be sold to the vessel JV in which Harren will hold a 50.01-per-cent interest. The remaining 49.99 per cent of the vessel JV will be controlled by Nautilus through a holding company in which the PNG government owns a 5-per-cent stake through its wholly owned company Petromin PNG Holdings Ltd.

The vessel JV will charter the vessel to the mining joint venture, in which Nautilus holds a 70-per-cent stake and Petromin holds a 30-per-cent stake, to carry out its seafloor production operations, for a period of eight years, at an average daily rate of $70,000 (U.S.). Harren will provide crewing, logistics and ship management services to the vessel JV which will be on charge at a daily rate of $10,000 (U.S.) to the mining JV. The mining JV will provide a charterer's guarantee to the vessel JV for an initial value of $10-million (U.S.) reducing over a five-year period to $2.5-million (U.S.).

Financing for the vessel JV will include approximately 75 million euros ($99-million (U.S.)) in bank debt to be procured by Harren, which also will contribute 16 million euros ($21-million (U.S.)) in equity and loans. Nautilus will contribute approximately 32 million euros ($42-million (U.S.)) in equity and loans, and Petromin will contribute the remaining four million euros ($5-million (U.S.)).

"This transaction is a major step forward in the development of the seafloor resources industry," said Nautilus chief executive officer Stephen Rogers.

"Through this joint venture with Harren, we will secure a state-of-the-art vessel to operate on this groundbreaking project. This will ensure that we have the best available equipment and the greatest operational efficiency and flexibility in bringing Solwara 1 into production.

"It brings to the project the extensive shipping expertise and experience of Harren, which operates a fleet of 56 vessels around the world. In addition, an important aspect of the transaction is that it provides access to bank funding through the joint venture vehicle, enhancing capital flexibility for the project," he said.

Harren chairman, Peter Harren, said the company was very familiar with international strategic partnerships, which have been a foundation of its business during its 20 years of operation. "During the course of our negotiations with Nautilus, we have built a strong relationship and believe that working together we can make a major contribution to this exciting project in Papua New Guinea," he said.

Harren has completed preliminary design for the vessel, a multipurpose dry cargo ship classed by Germanischer Lloyd. It has a length of 208 metres, beam of 40 metres, a deadweight capacity of approximately 18,800 tonnes and a speed of 17 knots.

The vessel will house generator sets producing 30 megawatts of power for the vessel, seafloor production tools and associated pumping machinery, and will have on-board accomodation for up to 160 people, including 30 maritime crew. The vessel is to be built at a German shipyard.

In addition to the production support vessel, the other major pieces of equipment to be built prior to the start of operations include:

1. The seafloor production tools. Three remotely operated machines -- an auxiliary cutter, a bulk cutter and a collecting machine -- are in the final stages of design by United Kingdom company Soil Machine Dynamics. The design of these machines is based on technologies that are tried and proven in the oil and gas, trenching, marine dredging, and mining industries. Key contracts are now in place for cutting heads, tracks, and the launch and recovery system.
2. The riser and lifting system, which pumps the slurry from the seafloor to the production support vessel. The design, being carried out by a United States subsidiary of French group Technip, is close to finalization with component testing now under way.

These items of equipment are scheduled for delivery in early 2013 and will be wholly owned by the mining JV.

Total capital cost estimates to complete the offshore production system for the Solwara 1 project have been reviewed in light of the Harren transaction. The total capital cost for the extraction of ore from the seafloor and delivery to the port of Rabaul is now estimated to be approximately $407-million (U.S.). The $167-million (U.S.) cost of the production support vessel is treated as a capital cost of the vessel JV and not as part of the capital cost of the Solwara 1 project.

In conjunction with entering into the Harren transaction Nautilus has decided to charter, rather than purchase, ore transport barges, resulting in an associated reduction of capital costs for these items to the project capital cost estimate and an associated addition to project operating costs of barge charter costs.

This has resulted in Nautilus's estimated vessel charter costs (including both the support vessel and the barges) increasing by 33 per cent above the respective cost estimates used in the cost study. Charter costs represented 34 per cent of the total estimated operating costs per tonne under the cost study. Nautilus will indirectly recover certain of these costs in the form of charter party fees through its interest in the vessel JV. There have been no changes to the basic equipment configurations outlined in the cost study, and the anticipated daily production rate remains at an average 3,710 tonnes (1.35 million tonnes per year) excluding site initiation and shutdown.

These changes to costs have been compiled under the supervision of Nautilus minerals project manager -- offshore, Michael Howitt. Mr. Howitt is a qualified chartered engineer and a member of the Institute of Marine Engineering, Science and Technology (MIMarEST). Mr. Howitt has reviewed and approved the disclosure regarding costs contained in this news release.

Conditions precedent

Completion of the Harren transaction is conditional on Harren securing a debt financing package for the vessel JV, and the project sanction by the Nautilus board of directors.

The Nautilus board has approved the revised Solwara 1 project plan, together with the cost information relating to the project, and is aiming to provide full sanction of the project upon securing appropriate financing.

Harren & Partner

Harren & Partner, based in Bremen, Germany, has been in operation for more than 20 years. The company was formed in 1989 by Captain Peter Harren, and now operates 56 vessels of between 4,000 and 70,000 deadweight tonnes including tankers, container feeder vessels, bulk and heavy lift carriers and dock ships.

The company provides comprehensive ship management services including fleet management, ship building project management, ship inspection, crewing, purchasing of new and second-hand tonnage, ship maintenance and repair, safety management, registration, finance, and insurance.

The company employs 145 staff on shore, has 1,800 regular crew members, and has successfully managed more than 20 ship funds -- all with positive rates of return.

Source: Nautilus Minerals

Posted on 4/14/2011 / 0 comments / Read More