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.: 30-Jul-2015 :. Search News
Displaying 1 to 8 of Records.
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New Wave of FLNG Projects Imminent
A significant growth in both investment and activity in the floating liquefied natural gas (FLNG) market is expected over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of USD 58.3 billion in its new market report.

The industry consultancy attributed 61% of this spend to liquefaction infrastructure, with the remainder from import and regasification facilities.

“The industry is about to see the installation of the first floating liquefaction projects. The application of LNG technology offshore has been proposed and studied within the industry for more than 30 years so there is intense industry interest in the first applications. The success of these first pioneering projects will no doubt impact future commitments by operators to FLNG developments.

There are now many projects on the starting blocks awaiting a final investment decision by the operator. In 2015 we expect something of a pause in new commitments given both the ‘first in the line to be second’ approach to the technology and the Capex cutbacks we have seen as a function of lower oil and gas prices,” said report author, Ben Wilby.

Posted On:30-Jul-2015



Credits: worldmaritimenews.com

CSCL Places USD 934 Million Order for Eight 13,500 TEU Boxships
hanghai-listed China Shipping Container Lines (CSCL) has placed an USD 934.4 million order with Shanghai Jiangnan Changxing Shipbuilding for eight 13,500 TEU container ships.

The order was placed through CSCL’s Hong Kong-based subsidiary China Shipping Container Lines (HK) Limited, and the boxships are due for delivery between April and December 2018.

Each vessel is valued at approximately USD 116.8 million, and will fly the flag of Hong Kong.

CSCL Hong Kong will finance the construction of the vessels through its own funds and through bank loans.

With the addition of these eight boxship, CSCL’s owned fleet will have 482,386 TEU capacity, and will be the sixth largest in the world, according to Alphaliner.

Posted On:30-Jul-2015



Credits: worldmaritimenews.com

NOL Posts USD 890 Million Quarterly Net Profit
Singapore-based NOL Group reported USD 890 million net profit for the quarter ended June 30, USD 887 million of which was gained through the sale of the company’s supply chain management business APL Logistics.

The remaining USD 3 million operating net profit for the quarter was a vast improvement compared to a net loss of USD 54 million in 2Q 2014.

APL, NOL’s container shipping business, recorded a 12% volume reduction in 2Q 2015 compared to the same period last year, due both to weak global demand as well as the carrier’s continued efforts to trim capacity in unprofitable trade lanes to optimise yield. Its average freight rates dipped 17% amidst pressure from over-capacity in the industry. Versus the same period last year, APL’s revenue fell 22% to USD 1.3 billion in the second quarter of 2015.

In spite of reduced revenue, APL achieved an improved 2Q 2015 Core EBIT of USD 20 million, compared to a loss of USD 28 million over the same period last year.

APL attributed its performance to stringent cost management as well as a yield-focused trade strategy that emphasises network rationalisation and better cargo selection. The carrier returned five expensive chartered ships in the second quarter. As a result, total cost of sales per forty-foot-equivalent unit (FEU) fell by 15% year-on-year. APL also kept its headhaul utilisation above 90%. These efforts mitigated the impact of lower volumes and freight rates in the quarter under review.

Posted On:30-Jul-2015



Credits: worldmaritimenews.com

U.S. regulators approve offshore gas project in Puerto Rico
The Federal Energy Regulatory Commission, or FERC, has authorized the development of the Aguirre Offshore GasPort, a floating terminal that will process liquefied natural gas for use in generating electricity in Puerto Rico.

The Woodlands, Texas-based Excelerate Energy, which is developing the project, said the FERC s decision confirmed that the floating terminal posed "no significant environmental impact."

The project is part of an effort to reduce Puerto Rico s high energy costs, a factor that local companies say has had a negative impact on the economy.

"We are pleased to receive the order from FERC after nearly four years of extensive environmental review," Excelerate CEO Rob Bryngelson said in a statement.

Excelerate Energy will supply LNG via the Aguirre Offshore GasPort to the Central Aguirre Power Complex belonging to the Puerto Rico Electric Power Authority, or PREPA.

"During this time, Excelerate has not diminished its efforts to deliver the beneficial Aguirre Offshore project, nor has the company wavered in its support for PREPA and the government of Puerto Rico," Bryngelson said.

Construction of the floating terminal is slated to start during the first quarter of 2016, with the project expected to begin operating in the second quarter of 2017.

Posted On:30-Jul-2015



Credits: www.bunkerportsnews.com

Ecopetrol announces important hydrocarbon discovery in Colombian Caribbean ultra-deepwater
Ecopetrol S.A. informs that at a depth of 3720 meters, the Kronos-1 well verified the presence of hydrocarbons in ultra-deepwater of Colombian south Caribbean area. This discovery proves the geological model proposed for an unexplored area with high hydrocarbon potential.

Kronos-1 is located in block Fuerte Sur, 53 Kilometers (33 miles) offshore, where partners Anadarko, operator, and Ecopetrol, each hold 50% interest.

According to Operator s quarterly operations report, after drilling at a water depth of 1584 meters (5195 feet), the well reached total depth of 3720 meters (12200 feet) and encountered a net pay thickness between 40 to 70 meters (130 to 230 feet) of gas bearing sandstones. Ecopetrol and Anadarko s integrated technical teams are continuing to evaluate the Kronos discovery results. Nowadays the drilling operation continues, aiming to reach a deeper target to determine possible additional results.

"We are pleased to announce this discovery in Colombian Caribbean deepwater, this time accompanied by Anadarko. This discovery adds to the one accomplished in December at the Orca-1 well, located in the deep water of Tayrona block offshore Guajira, where we are partners with Petrobras, Repsol and Statoil. These results are very important and confirm the potential of the Colombian Caribbean petroleum system in a vast area and are aligned with Ecopetrol s new strategy, in which one of the key areas is the exploration on high potential marine basins," Ecopetrol president Juan Carlos Echeverry said.

Posted On:30-Jul-2015



Credits: www.bunkerportsnews.com

Philippine port project draws interest from five groups
A 18.99 billion pesos ($417.91 million) project to modernise a port in the southern Philippines has attracted interest from five groups, a government official said on Wednesday, with bids due to be lodged by the fourth quarter.

The government aims to award the contract in April to develop, operate and manage the Davao Sasa port over a 30-year concession period. It will be the first public-private partnership project award by the government on Mindanao, an island blighted by a long-running Islamist militant insurgency.

The five groups that have submitted pre-qualification documents included Philippine conglomerate San Miguel Corp partnered with Dutch firm APM Terminals Management BV, , Cosette Canilao, head of the Public-Private Partnership (PPP) Centre, told reporters.

Asian Terminals Inc has teamed up with DP World Ltd , from the United Arab Emirates in submitting pre-bid documents, Canilao said.

Other firms that submitted qualification papers were International Container Terminal Services Inc (ICTSI), owned by the Philippines third richest man Enrique Razon, France s Bollore SA and Singapore s Portek International Pte Ltd, Canilao said.

An ICTSI official confirmed the company s participation in the pre-qualification process, while San Miguel officials were not immediately available for comment.

The government PPP programme aims to upgrade ageing infrastructure in one of Asia s fastest growing economies.

The Davao region exports bananas - the Philippines is the world s second largest exporter of the fruit.

Posted On:30-Jul-2015



Credits: www.bunkerportsnews.com

Look beyond productivity
Setting out as a pure port equipment engineering business in 1988, Singapore-headquartered Portek now has many more strings to its bow, not least terminal operations. It’s no coincidence that this evolution has fast-tracked under the watchful eye of owner Mitsui and non-executive director and former chief executive Takao Omori, both of whom arrived on the scene in 2011.

From its hardware beginnings, Portek with Mitsui now boasts an annual throughput of over 1m teu through its terminal operations in Gabon, Rwanda, Algeria, Malta, Latvia and Jakarta.

Beyond operations, Mr Omori plans to complete the circle of port operations in the future. Speaking exclusively to Port Strategy, he explains his future plans: “My policy is to not only look at the productivity of the container itself, but to look inside the box and to ask ‘what’s in it’, ‘what are the shipper’s or consignee’s requirements’, and ‘what are the functions before and after the container terminal’.

“We are closely working with not only shipping companies, but also cargo owners and logistics players – we need to understand the whole supply chain to understand the function of the terminal.”

Given its background, he admits that the company is confident in terms of engineering, but it needs a better understanding of the business demands of both cargo owners and shipping companies to position itself to meet future supply chain needs.

Its aspirations have been supported by the Mitsui tag, which has allowed access to funding on a scale that Portek could previously only have anticipated

Posted On:30-Jul-2015



Credits: www.bunkerportsnews.com

Tk 20b project taken up to modernise Mongla port
Mongla seaport is being modernised under a Tk 20 billion (2,000 crore) project to turn it into Bangladesh s second shipping hub to handle an increased volume of domestic and transit cargoes.

Officials said the Mongla Port Authority (MPA) has taken up the project as the seaport would have to take greater load of import-export consignments once investment thrives in greater Khulna region in the near future.

Also, the port has to handle transit trade of the region s landlocked countries under the deals struck recently.

Khulna University of Engineering and Technology (KUET) got the task of conducting feasibility study on the port s capacity building under the mega-project.

The government will explore funds from both the Chinese government and the Islamic Development Bank (IDB) for the works.

The project is scheduled to start in the current fiscal year, 2015-16, and expected to be completed in four years.

MPA chairman Riazuddin Ahmed told the FE that connectivity is a major barrier for investment in Khulna region and thus the Mongla port has been handling lower volume of cargo.

"But the problem is now going to be over with Padma bridge construction and the project taken for rail connectivity between Khulna and Mongla port," he said.

Mr Ahmed said investment is going to see a big boom surrounding Mongla soon as BEZA (Bangladesh Economic Zones Authority) and Mongla Export Processing Zone have been extending facilities to investors here. These two organisations took lands for establishments from the Mongla port.

Posted On:30-Jul-2015



Credits: www.bunkerportsnews.com
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