Too many tankers leaves crude shippers dry

Global demand for oil is rising and the price of crude is surging – but companies in the business of shipping the valuable commodity by sea are suffering as the supply of tankers vastly exceeds the need for ships.

For supertanker shipping companies, it’s a hangover from the prerecession boom in orders for new vessels, huge ships that take several years to build.
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Source: Globe and Mail

Posted on 5/26/2011 / 0 comments / Read More

Second hand vessel purchasing still going strong

The market for second hand vessels has kept on building momentum during the past week, in a clear sign that whatever the conditions in the freight market, there will always be ship owners out there looking to find a good deal. According to the latest report from shipbroker Shiptrade Services, the past week was completed with a healthy number of sales being reported.
“Highlights of the week are the sale of Panamax “Michele Bottiglieri” (abt 75.413 dwt Built Hitachi JPN 2001) at USD 26 mill to undisclosed buyers with 3 years TC back to Sellers at USD 16.000 / day and Panamax “La Jolla” (abt 72.126 dwt Built Hitachi JPN 1997) at USD 21 mill to Chinese buyers with a TC attached to COSCO at USD 14.750 / day until August- November 2011.
A number of vessels of various sizes and types are on the market seeking buyers at “decent” prices.
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Source: Hellenic Shipping News

Posted on 5/26/2011 / 0 comments / Read More

Alliance Engineering awarded engineering and design contract for Tamar Platform

Wood Group's Alliance Engineering has been awarded a contract to provide detailed engineering and design services for the Tamar Platform Project, including topsides facilities and deck structure, to be located offshore Israel. The Tamar natural gas field will be operated by Noble Energy and is located offshore Israel in the eastern Mediterranean Sea's Levantine Basin.

The Tamar platform will be located in approximately 800 feet of water and will be designed to process 1.2 billion standard cubic feet of gas per day. The Tamar field is estimated to contain 8.4 trillion cubic feet of gas and will be produced through several subsea wells connected to the platform by 150 km long flow lines. The planned single-lift topsides facility will have four deck levels and will weigh nearly 10,000 tons when completed.

"We are very excited to be working for Noble Energy on this international gas field development," said Edmund Lunde, president of Alliance. "Alliance is committed to execution excellence in its projects and we are honored Noble Energy has given us this opportunity to showcase our capabilities."
Source: Wood Group

Posted on 5/26/2011 / 0 comments / Read More

Chevron Awards Baker Hughes Contract for Deepwater ESP Systems

Big Foot development marks the first deepwater Gulf of Mexico deployment of in-well ESP systems

Chevron U.S.A. Inc. has awarded Baker Hughes (BHI: NYSE) a contract to supply electrical submersible pumping (ESP) systems and production packers for seven producing wells, plus mud line packers for three injection wells for their Gulf of Mexico deepwater Big Foot Project. This award marks the first deployment of ESP systems inside the wellbore in the deepwater Gulf of Mexico. The ESP systems will be placed at a true vertical depth of approximately 16,000 feet.

Discovered in 2006, Big Foot is in 5,200 feet of water in the Walker Ridge area of the Gulf of Mexico. The Big Foot production facility will be an extended tension leg platform with an onboard drilling rig and production capacity of 75,000 barrels of oil and 25 million cubic feet of gas. Deployment of the ESP systems is scheduled to begin in 2014.

ESP systems were selected to boost the production stream and maximize asset recovery while extending production life and accelerating recovery. Improved ESP technology and manufacturing controls has extended ESP run times for critical well applications. The 1200 horsepower dual ESP systems will be the highest horsepower in-well systems ever deployed in an offshore environment. The ESP systems are deployed on dual by-pass systems, allowing for reservoir access and the ability to switch between ESPs without intervention.

“Longer-term, the experience and knowledge gained from Big Foot can potentially be applied to other developments in the deepwater market to extend field productivity,” says Richard Williams, president of the Gulf of Mexico for Baker Hughes. “We are happy to be working with Chevron on this groundbreaking project to extend the application of ESP technology in the deepwater environment.”
Source: Baker Hughes

Posted on 5/26/2011 / 0 comments / Read More

Sevan Marine seeks restructuring, cancels share issue

Norwegian oil services group Sevan Marine (SEVAN.OL) said on Thursday it had cancelled its planned $275 million rights issue and was seeking restructuring as it could not meet its project liquidity and financing requirements.
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Source: Reuters

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ATP Completes Drilling Phase at Deepwater Gulf of Mexico Well

ATP Oil & Gas Corporation (NASDAQ:ATPG) today announced that it has completed the drilling phase of deepwater Mississippi Canyon ("MC") Block 941 A-2 well located at ATP's Telemark Hub, and all pay sands in the MC 941 A-1 well were present essentially confirming pre-drill estimates. The main pay sands are approximately 500 feet structurally higher than the MC 941 A-1 well and 1000 feet above the original oil-water contact. Plans are to run casing to total depth, install temporary barriers in the well permitting removal of the drilling riser and installation of the production riser. Tie-back of the production casing to the surface and perforating and completing the initial production zones will follow. Installation of production tubing and a subsea tree will be performed prior to testing and initialization of production. First production from this well is expected in the early part of the third quarter.

ATP was the first Gulf of Mexico operator to begin drilling in the deepwater after the BOEMRE began issuing permits though the company received the third permit issued on March 18, 2011. ATP is also first to successfully achieve its drilling objective since the moratorium was lifted and of the initial ten permits issued, ATP was the only entity to receive two of the permits, demonstrative of the confidence government regulators have in the company.

T. Paul Bulmahn, Chairman and CEO stated, "Our preparedness enabled us to swiftly assemble a crew and commence testing the BOP stack within 36 hours of obtaining the permit. We look forward to production from this well during the third quarter through the state-of-the-art ATP Titan facility."

ATP operates the deepwater Telemark Hub with a 100% working interest and owns 100% of the subsidiary that owns the ATP Titan and associated pipelines and infrastructure.
Source: ATP

Posted on 5/26/2011 / 0 comments / Read More

Drydocks World to Build Self Elevating Platform

Drydocks World, the well established ship repair, conversion and new building Group announced today that it has signed a contract with Mumbai-India based construction group, Afcons Infrastructure to provide detail engineering, procurement, construction and delivery of a Self Elevating Platform AF SEP Samrat.

The 45metre long flat bottom pontoon barge, which will be built at the Dubai facility, can be jacked up with four spuds and a jacking system with an elevated weight of 2928 tonnes approximately. The vessel will be equipped with a main crane and other equipment including six mooring winches, three gensets, jacking systems, power packs, pumps and other miscellaneous equipment.

“We are focusing our strategy for the future to a large extent in the sectors of marine construction and support industries and oil and gas sector through our contribution to the construction of specialized vessels and drilling rigs, and this agreement is the beginning of agreements with other oil and gas industry in India.

With the continued growth in construction activities and deep-sea drilling in the deep sea, we are confident of increasing demand for our large-scale services in the future, given the track record of experiences and skills in this growing sector over the decades. Moreover, we have embraced modern state-of-the-art engineering technology and adopted lean, client-friendly production techniques, which offer considerable value on projects,” said Khamis Juma Buamim Chairman of Drydocks World and Maritime World

The shipyard will offer detail engineering, procure approximately 1506 tonnes of steel for hull, spuds, jack house and spud guides, foundations and other outfit steel, carry out outfitting, surface preparation and painting, installing equipment, spuds, electrical cables and lighting,  load out, inclining experiment and sea fastening for sail out. The project is set to start in May 2011 and is expected to be completed by December 2011.  

Source: Drydocks

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An open hatch bulk carrier of the future

Oshima Shipbuilding Co., Ltd. and DNV are pleased to announce the completion of the first milestone of a joint programme to develop the ECO-Ship 2020, a concept design for an open hatch bulk carrier (OHBC) developed to significantly lower fuel costs, meet or exceed regulatory standards and improve commercial performance.

The ECO-Ship 2020 is an energy-efficient and cost-effective concept design developed to help owners and operators improve commercial performance while lowering fuel costs. The LNG-fuelled open hatch bulk carrier concept features a number of innovative solutions, including a wide twin skeg hull, Oshima’s Seaworthy bow, air lubrication system, lean-burn four stroke medium speed gas engines and a flexible propulsion and power generation system with shaft generator/motor (PTO/PTI).

The concept also features a waste-heat recovery system that can feed electric power into the PTI to be used as a supplement to ship propulsion power, representing about 5% fuel savings at normal cruising speeds. The ECO-Ship is outfitted with four large capacity electric jib cranes and hatch covers made of a composite material that weighs about 50% less than traditional steel covers. The vessel has been specifically designed to be fully compliant with future IMO, ECA and Tier III emmission requirements, emitting about 50% less CO2 than typical existing OHBCs. A significant part of the reduction is due to the highly efficient propulsion system running on LNG.

Wants to be first out
Oshima’s president Hiroshi Minami says that the company is committed to helping customers improve environmental and commercial performance. “Our objective is to be the first shipyard to deliver an LNG-powered bulk carrier,” he says. “To achieve our goal, we worked closely with DNV and other suppliers to develop a viable design concept. We are confident the results will exceed expectations.”

According to Adam Larsson, project manager for DNV, the project involved valuable input from Rolls-Royce Marine on LNG, machinery and propulsion solutions, while Kockums and FiReCo helped develop composite GRP solutions. “ECO-Ship is an innovative concept, but every feature is based on existing or emerging technologies,” he says. “And as one of the world’s leading yards for bulk carriers, Oshima’s commitment to more environmental-friendly shipping represents a clear sign that the industry is getting serious about LNG-fuelled shipping.”

Larsson notes that the ECO-Ship’s design is not only innovative but practical. “Rising demand for more fuel efficient ships combined with new technologies and Oshima’s shipbuilding expertise, will help to turn the ECO-Ship from a concept to a reality,” he says. “For any owner interested in saving on fuel costs, reducing emissions and staying ahead of new regulations, the ECO-Ship is the answer.”



Source: DNV

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China: Naming for Worlds First 3000m Deepwater Pipe Laying Crane Vessel

China Rongsheng Heavy Industries Group Holdings Limited , a large  heavy industries group in China, has collaborated with China National  Offshore Oil Corporation (“CNOOC”) to construct the world’s first-ever 3,000-meter deepwater pipe laying crane vessel (“DPV”) “Ocean Pec 201”.

A national science and technology major project achievement report meeting and a naming ceremony to celebrate the completion of the vessel were held in Rugao City, Jiangsu today.

The DPV “Ocean Pec 201” was the culmination of the first joint offshore engineering project of CNOOC and China Rongsheng Heavy Industries. The project started in May 2005 and construction of the vessel commenced in September 2008.

Offshore Oil Engineering Co., Ltd. (“COOEC”), a listed company held by CNOOC, was responsible for all construction cost as well as the operation upon completion. The christening ceremony today symbolised that the construction of the DPV has completed the outfitting and testing stages and is at the final stage of trial voyage and delivery.

Guests including top management of China Rongsheng Heavy Industries and our partners together with leading officials of the local Government presided over the occasion and officiated at the ribbon-cutting ceremony.  Business executives included Mr. Zhou Shouwei, Vice President of CNOOC and academician at the Chinese Academy of Engineering; Mr. Zhou Xuezhong, President of COOEC; Mr. Zhang Dehuang, Chairman of Jiangsu Rongsheng Investment Group Co. Ltd; Mr. Chen Qiang, Chief Executive Officer of China Rongsheng Heavy Industries and Mr. Chen Guorong, President of Jiangsu Rongsheng Heavy Industries Co., Ltd. Local officials  included Mr. Qinyan, Deputy Director of Jiangsu Economic and Information Technology Commission and Ms. Chen Huijuan, Deputy Mayor of Nantong & Secretary of Rugao Municipal Committee of the Communist Party of China.

Mr. Chen Qiang, Chief Executive Officer and Executive Director of China Rongsheng Heavy Industries, said, “‘Ocean Pec 201’ is an important part of the demonstration engineering projects. It includes major equipment  and ancillary engineering technology for offshore deepwater engineering projects among the major national science and technology programmes under China’s Eleventh Five-Year Plan.

The entry of CNOOC in deep water exploitation creates opportunities for the offshore engineering sector in China and enhances the overall capability of the related manufacturing and metallurgy industries in China. The  christening and impending trial voyage of the semi-submersible drilling rig ‘Ocean Pec 981’ and DVP ‘Ocean Pec 201’ highlights China’s ability to develop sophisticated equipment in the offshore engineering sector and its competitiveness in the international market.”

Source: TodayIR

Posted on 5/26/2011 / 0 comments / Read More

China: Mega oil rig changes game

Surrounding countries have increased oil drilling from the sea in recent years, resulting in a loss equivalent to 20 million tons of oil annually for China, Song Enlai, chairman of CNOOC's board of supervisors, told Oriental Outlook magazine. The total output of China's offshore oil and natural gas stood at 50 million tons of oil last year, CNOOC reported.
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Source: Global Times

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CMA CGM: new giant of the seas christened in

The CMA CGM Group, the world’s third largest container shipping company and first in France, is pleased to announce that the CMA CGM TITAN, an 11,400 teu* vessel, was christened at the Dunkirk Terminal in the presence of her godmother, Mrs Laurence Parisot, President of the French employers federation, MEDEF.

CMA CGM TITAN’s christening at Dunkirk Port, one of ten ports serviced by CMA CGM on Europe’s Atlantic front, confirms the Group’s determination to see France and its port terminals regain their position in the international shipping arena. Over the last few years the CMA CGM Group has invested in several French terminals, including the Terminal des Flandres at Dunkirk. Its strategic location near the big north European ports, its three berths on the 1.4 km quay, six gantry cranes and the significant 17.3 m draft capacity mean the terminal offers CMA CGM customers an efficient and reliable service. With five regular services from the West Indies, Asia, Panama and Morocco, the Group generates more than 70% of the volumes handled by the terminal, making Dunkirk France’s third most important port in terms of container volumes.

The eighth containership in a series of 12 named after constellations (ANDROMEDA, CASSIOPEIA, etc), the CMA CGM TITAN boasts impressive technical features combining environmental technology with high performance. Like other vessels in the Group’s fleet, in the same and larger categories, the CMA CGM TITAN is equipped with the Fast Oil Recovery system, an electronically controlled engine and a twisted leading edge rudder. A host of innovations means the CMA CGM Group can offer customers an even more efficient and competitive service, while taking into account sustainable development issues, in line with its commitments and values.

Laurence Parisot, President of MEDEF, said: “It is a great pleasure for me to be godmother to the CMA CGM TITAN. I wish her every success; that this magnificent vessel will be the pride of CMA CGM and her crew and contribute to France’s reputation and that of its companies and expertise across all the world’s oceans.”

The CMA CGM TITAN is deployed on the Group’s flagship lines linking Asia to Europe, the historic “French Asia Line” and calls at strategic ports in Asia and on the European Atlantic side. These giants of the seas have become indispensable on this trade and enable the CMA CGM Group to cope with the growth in Asian exports and the resulting demand for transportation.
Source: CMA CGM

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S.Korea Daewoo wins LNG ship order from Norway

South Korea's Daewoo Shipbuilding & Marine Engineering has landed an order to build at least two and up to four LNG carriers for Norway's Awilco LNG, the South Korean shipbuilder said on Thursday.
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Source: Reuters

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