Grand Opening Of Canada’s First LPG Marine Export Facility

AltaGas Ltd.(AltaGas) celebrates grand opening of Ridley Island Propane Export Terminal (RIPET), located in Prince Rupert, British Columbia. It is the first marine export facility for propane in Canada. The facility began in mid-April and introduced propane feedstock. The first shipment departed the terminal on May 23, 2019 bound for Asia.

“The completion of this game-changing project and the shipment of our first cargo are historic milestones for AltaGas, as well as for our project partners, customers, local Indigenous Peoples, surrounding communities, and western Canada’s upstream energy sector,” said Randy Crawford, AltaGas’ President and Chief Executive Officer. “With RIPET now operational, we can offer producers a uniquely complete solution for their propane, providing premium netbacks and market optionality, while also positioning AltaGas to profitably grow our Midstream footprint – a true win-win for AltaGas and our customers.”

RIPET allows AltaGas to leverage the strength of its assets along the energy value chain in western Canada – from gas gathering and processing, to liquids handling, fractionation and export – by attracting increasing volumes and enhancing throughput. The ability to provide access to premium overseas markets, where demand for cleaner fuels is growing, is anticipated to be a significant catalyst for further growth within AltaGas’ Midstream business.

“RIPET signals to our customers overseas that Canada can deliver on energy exports, and the facility will make significant long-term contributions to international trade, support economic growth in northern B.C., and provide immediate access to clean-burning fuel in Asian markets, where demand is particularly strong,” said Mr. Crawford. “We’ve been extremely fortunate to work with a collaborative and experienced joint-venture partner in Royal Vopak and an extraordinary customer in Astomos.”

In 2017, AltaGas entered a multi-year agreement with Astomos Energy Corporation, a Japanese propane importer and distributor, to purchase at least 50 percent of the propane shipped from RIPET annually. RIPET provides producers and customers with a significant locational advantage given comparatively short shipping distances to markets in Asia – notably a 10-day shipping time from Canada’s West Coast compared to 25 days from the U.S. Gulf Coast.

“The ability to import Canadian propane is a significant advantage for Japan, as it provides greater energy security and supply diversification, while also enabling Canada to maximize the value of its natural resources,” said Seiya Araki, President of Astomos Energy Corporation. “This first-of-its-kind project demonstrates to the world what can be achieved through effective partnerships between Canadian and Japanese companies, and will ultimately benefit both countries for decades to come.”

RIPET is expected to ship approximately 1.2 million tonnes of propane annually to customers in Asia. Asia is the world’s largest importer of LPG, with about 24 million households using propane for heating and cooking in Japan alone. Propane is also an important feedstock for the petrochemical industry, and fuels nearly 25 million vehicles worldwide.

Throughout the design and construction of RIPET, AltaGas worked closely with local Indigenous Peoples, communities and all levels of government to develop opportunities for economic and social development, skills training, and emergency response preparedness. The project provided more than 200 jobs during the construction phase, and will provide up to 40 additional permanent jobs for the local economy now that the facility is operational. AltaGas also worked closely with emergency responders in Port Edward and Prince Rupert, providing training and financial support to ensure the safety of nearby communities.

RIPET is owned by a joint venture between AltaGas (as to a 70 percent interest) and a Canadian subsidiary of Royal Vopak (as to a 30 percent interest). Royal Vopak is one of the world’s leading independent tank storage companies, with significant experience in marine terminals worldwide. Pursuant to the arrangement, AltaGas has the right to 100 percent of the capacity of RIPET.

“We are very excited about this important milestone in our good and strategic partnership with AltaGas. AltaGas is a well-respected Canadian company with experience in developing energy projects, while storage and handling of gas is an important strategic focus area for Vopak. This export facility opens market access for western Canadian producers to Asia, a premium market for propane,” said Eelco Hoekstra, Chairman of the Executive Board and CEO of Royal Vopak.

Reference: altagas.ca

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Maersk Tankers Signs Newbuilding Order For Four LR2s

The order is part of an ongoing fleet renewal program in the LR2 segment. “We are building the LR2s to ensure we have a portfolio of vessels that best fits our customers’ demands. The new buildings will help us sustain a competitive fleet in a segment that is attractive to customers and owners alike, and to retain a strong market position,” says Søren C. Meyer, Chief Asset Officer at Maersk Tankers.

For the new building program the contract was signed in a market with competitive asset prices. The company had confirmed the order of the first six vessels in May 2018. It is expected that the ten LR2s will be delivered from 2020 – 2022. The vessels will come under Maersk Tankers’ commercial, technical and corporate management.

Reference: maersktankers.com

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A 21-Year-Old Marine Killed In Vehicle Accident During Training In Australia

The service announced that a 21-year-old corporal of Marine lance died after a tactical vehicle accident during a training event in Australia. Lance Cpl. Hans Sandoval-Pereyra, 21, was injured in a May 25 accident and died at the Royal Darwin Hospital on 28th May. A second Marine injured in the accident has also been released from the hospital.

The training took place at the Mount Bundey Training Area, about an hour and a half outside Darwin. Marines have been sending a rotational force to Darwin since 2012.

“We are saddened by the loss of Lance Cpl. Sandoval-Pereyra. He was a beloved member of our community and our deepest sympathies go out to his family and friends,” Col. Russ Boyce, commanding officer for Marine Rotational Force-Darwin, said in a statement.

Sandoval-Pereyra was from Fairfax, Va., and served as an expeditionary airfield systems technician in the rotational force’s aviation combat element (ACE). He was previously assigned to the Marine Wing Support Detachment 24, Marine Aircraft Group 24 based at Marine Corps Base Hawaii, Kaneohe Bay. He had earned the National Defense Service Medal and the Global War on Terrorism Service Medal.

Sandoval-Pereyra’s death is the second case in May for the Marine Corps. A Light Armored Vehicle rolled over May 9 at Camp Pendleton in California, injuring six and killing one. In April, a Marine Raider was killed when the MRZR vehicle he was driving rolled over.

The following is the complete May 28 statement from the U.S. Marine Corps:

DARWIN, NT, Australia- Lance Cpl. Hans Sandoval-Pereyra, 21, died May 28 after succumbing to injuries received during a tactical vehicle accident May 25.

He was conducting routine training at Mount Bundey Training Area, Northern Territory, Australia, and was initially treated at the scene before being medically evacuated by helicopter to Royal Darwin Hospital, where he later succumbed to his injuries.

One other Marine received minor injuries from the accident and was released from the hospital.

The cause of the accident is under investigation. “We are saddened by the loss of Lance Cpl. Sandoval-Pereyra. He was a beloved member of our community and our deepest sympathies go out to his family and friends,” said Col. Russ Boyce, Commanding Officer for Marine Rotational Force-Darwin. “We are extremely grateful to our Australian partners for their valiant efforts to save this young Marine’s life.”

Sandoval-Pereyra, 21, of Fairfax, Virginia, was an Expeditionary Airfield Systems Technician assigned to the Aviation Combat Element for MRF-D. Prior to deploying to Australia, he was assigned to Marine Wing Support Detachment 24, Marine Aircraft Group 24, based at Marine Corps Base Hawaii, Kaneohe Bay. His decorations include the National Defense Service Medal and the Global War on Terrorism Service Medal.

Reference: news.usni.org

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Diana Shipping Enters Time Charter Contract With Uniper

Diana Shipping Inc. (the “Company”), which is a global shipping company specializing in the ownership of dry bulk vessels, announced that it has entered into a contract with Uniper Global Commodities SE, Düsseldorf. It has entered into a time charter contract with Uniper Global Commodities SE through a separate wholly-owned subsidiar, for one of its Panamax dry bulk vessels, the m/v Leto. The gross charter rate is US$13,000 per day, minus a 5% commission paid to third parties, for a period of minimum eleven (11) months to maximum thirteen (13) months. The charter is expected to commence on May 31, 2019. The m/v Leto is currently chartered, as previously announced, to Glencore Agriculture B.V., Rotterdam, at a gross charter rate of US$12,500 per day, minus a 5% commission paid to third parties.

The “Leto” is an 81,297 dwt Panamax dry bulk vessel built in 2010. This employment is anticipated to generate approximately US$4.29 million of gross revenue for the minimum scheduled period of the time charter.

Upon completion of the previously announced sale of one Panamax dry bulk vessel, the m/v Erato, Diana Shipping Inc.’s fleet will consist of 45 dry bulk vessels (4 Newcastlemax, 14 Capesize, 5 Post-Panamax, 5 Kamsarmax and 17 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Erato, is approximately 5.5 million dwt with a weighted average age of 9.30 years.

Reference: dianashippinginc.com

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WE Tech Delivers Hybrid Electric Propulsion Solution To Wasaline

WE Tech Solutions Oy (WE Tech) has been awarded the contract for delivery of an avant-garde Hybrid Electric Propulsion solution to Rauma Marine Construction Oy (RMC). The solution includes Propulsion drives, Energy Storage System (battery banks and DCDC converters), Main Propulsion Switchboards, Shore connection switchgears, Energy Management System and the Propulsion Control System. WE Tech and RMC will together bring Wasaline’s new RoPax ferry to the next level of sustainable shipping. The new ferry is being built by RMC in Rauma Finland and is scheduled for delivery in May 2021. The Ice Class 1A Super ferry, with a freight capacity of 1,500 lane-metres for trucks on two cargo decks and capacity for 800 passengers, will be operating daily in the Gulf of Bothnia between the city of Vaasa in Finland and city of Umeå in Sweden.

The Hybrid Electric Propulsion ferry consist of four generators that can supply energy for propulsion and electrical power demand in normal sailing mode. A Zero Emission Sailing Mode utilises battery banks only for vessel’s propulsion and electrical power demand and is initiated in harbour manoeuvring mode. While stationary in the harbour, the vessel’s electrical system and re-charging of the energy storage system will be supplied by the high-power shore connection.

The Energy Storage System (ESS) which is connected to the common DC-link of the main propulsion drives provides power for peak-shaving and back-up functionality, and as a single supply when in Zero Emission Sailing Mode. WE Tech delivers the dedicated power and energy management system (DPMS) to control the energy flow and different operation modes as well as interface with the vessel’s automation system. Also, as the vessel’s bow thrusters are fed via dedicated inverters connected to the common DC-link, it can be said that the Hybrid Electric Propulsion solution by WE Tech truly is the heart of the vessel. This versatile and flexible solution will save tons of fuel and reduce emissions both at sea and in the harbour.

“It is an honour for WE Tech to develop and deliver the most energy efficient and reliable solution for a vessel that is built at a Finnish shipyard in close vicinity to Vaasa, and that the vessel will operate from Vaasa, which also is our home town. Our tailored solution will help Wasaline to create substantial savings as well as reduce their carbon footprint,” says Mårten Storbacka, Managing Director of WE Tech Solutions, “Electrical load peak-shaving and the Zero Emission Sailing Mode will have a big impact on energy efficiency and emission reduction, and will reduce the cost of operation. The solution package from WE Tech is significant and plays a major role in the construction of this next generation ferry, in terms of energy efficiency and sustainability.”

“This efficient and unique solution is supporting our guidelines with the framework in the design to build the most sustainable and energy efficient ROPax ferry in the world. WE Tech Solutions supports fully the focus we have on driving sustainable innovations and to use the ferry as a platform for technology demonstrators with the intro of new products, solutions and services. WE Tech Solutions hybrid package will be a unique platform and a showcase for our industry.” Says Tomas Häyry, Chairman of the Board in Kvarken Link.

Now-a-days the call for lower emissions affecting the merchant marine is growing faster. WE Tech’s ambitious vision is that the global shipping industry should use 30 per cent less fuel by 2030. The cooperation with Wasaline will enable the company to further develop its innovative technologies and to achieve that goal easier.

Reference: wetech.fi

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NYK Recognized As Top Shipping Lines In Port Of Long Beach’s Green Flag Program

NYK has been recognized as one of the top shipping lines in the Green Flag vessel speed reduction program that was conducted by the Port of Long Beach to improve air quality. NYK has been recognized for this program for 10th consecutive time since 2009.

The main aim of The Green Flag program is to restrain exhaust emissions from vessels by having them voluntarily operate under 12 knots within 40 miles of port.

In 2018, all NYK-operated vessels that were called at Long Beach for the program scored an extraordinary compliance rating of 100 percent. Also NYK was praised for its contribution to the exhaust gas cut. NYK Bulk & Projects Carriers Ltd., an NYK Group company, was also recognized for its participation in the Green Flag program in 2018.

The NYK Group says it will continue to participate in programs for preventing air pollution around the port of Long Beach and will continue to contribute in the preservation of the environment.

Reference: nyk.com

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Port Of Gothenburg Reaches Its Turning Point In The Largest Development At Port

Port of Gothenburg reached its turning point in the largest development project in 40 years. Phase one of the water-based work has now been completed. The construction of the 220,000 square meter terminal is pending and will be completed in the next phase. The terminal is expected to be completed by 2025.

Construction of the brand-new terminal at the Port of Gothenburg was in progress in autumn 2018. Phase one of the construction began with stabilization work. This involved the sinking of 1,500 piles into the seabed, down to bedrock level, in the lead-up to construction of the rock embankments around the Arendal bay.

“It is extremely exciting to finally get off the mark in the biggest development project at the port since the 1970s,” said Magnus Kårestedt, Gothenburg Port Authority chief executive, prior to commencement of phase one last autumn. “The terminal is a crucial aspect of the port’s long-term expansion plans and will further strengthen Gothenburg as the Nordic logistics capital.”

Phase one completed
The main work under phase one was completed in late April. This consisted largely of piling and embankment work and marked the conclusion of the water-based part of the construction.

However, the process was not entirely problem-free as various challenges were encountered along the way, including unforeseen geoengineering conditions during piling.

“But as we had already taken into account the fact that unexpected difficulties could emerge as the work proceeded, no delays occurred and overall the project has not been slowed down. We are still on schedule and the project is about to move on to the next phase,” said Joakim Grenmarker, project manager at Gothenburg Port Authority.

Collaboration with nearby terminals
The new terminal is being built at Arendal, directly beside the ro-ro terminals, where almost 2,000 trailers are loaded and unloaded each day. Extensive collaboration is required to enable construction and terminal operations to run simultaneously without any efficiency shortfall.

“Gothenburg Roro Terminal and the contractor, NCC, have from the outset been extremely positive, solution-oriented and willing to coordinate their activities. These are the main reasons why the work so far has proceeded as smoothly as it has done,” said Joakim Grenmarker.

Next phase: levelling of hill
Leveling the hill to the south of the site will be the next major part of the construction process. This will free up new terminal space, and the rock from the hill can be used as embankment infill to create additional terminal space. Blasting will commence at the end of 2019.

The terminal is expected to be completed by 2025, although certain sections will be brought into use before then.

• Fact file: New terminal at Arendal
• Terminal area: 220,000 square metres
• Quay length: 460 metres
• Draught alongside the quay: 12 metres
• Tide or ice restrictions: None
• Potential rail link: Yes

Reference: portofgothenburg.com

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Heerema’s Aegir Installs Cutterladder Into Cutter Suction Dredger ‘Spartacus’

Heerema’s Aegir has successfully installed the 2,500-tonne cutterladder into the world’s most powerful Cutter Suction Dredger ‘Spartacus’. Spartacus is going to be the world’s first LNG-powered Cutter Suction Dredger built by Royal IHC for DEME. Its length is about 164-meters.

When the cutter ladder was transported by barge the ‘Spartacus’ was dragged from IHC’s shipyard in Kinderdijk to the Caland Canal. First, Aegir lifted the cutterladder from the barge with her dual crane blocks. ‘Spartacus’ was then moved into position and moored alongside Aegir.

The cutterladder whose length is 57-meters was carefully lowered into position by rotating the ladder as well as shifting the ‘Spartacus’. Clearances encountered during this process were as small as 24 mm. After the locking pins were engaged, the cutter ladder installation was completed.

Now for further construction activities and leftover work ‘Spartacus’ will now return to IHC. Aegir will soon depart Rotterdam to execute other projects in the North Sea.

Reference: hmc.heerema.com

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Norled And Westcon Signed The Contract For Construction Of The World’s First Hydrogen Ferry

A contract have been signed between the shipping company Norled in Stavanger and the Ølen-based shipyard Westcon for the construction of two new ferries. Among these two ferries, one will be the world’s first car ferry that sails on hydrogen and the other will be a battery-powered ferry equivalent to MF Ampere.

“We believe that this construction project will contribute to the Norwegian maritime sector as a whole being at the forefront of hydrogen-powered ferries,” says Technical Director Sigvald Breivik of Norled, who had built the world’s first battery-powered ferry, MF Ampere.

This is a big and important contract for us in Ølen. Director of Shipbuilding Endre Matre in Westcon says getting involved in building will be a world new thing for us means that will not only fill up our order book but will also help us consolidate our position as a yard with high innovation and technology expertise.

The two ferries that Westcon will build for Norled will both operate the national road 13 ferry connection Hjelmeland – Skipavik – Nesvik in the Ryfylket from spring 2021.

Sigvald Breivik, technical director at Norled says, since we signed the contract with the Norwegian Public Roads Administration in January to build and operate a completely new type of zero-emission holiday based on using hydrogen as fuel, the interest and intake has been great from both home and abroad. We are therefore very pleased that after thorough assessments we have signed an agreement on the construction of the hydrogen ferry with Westcon in Ølen. The shipyard has solid expertise in environmental technology, and proven that they have good cooperation relations with other key players in this project, Breivik continues.

New maritime icon

The new hydrogen holiday is one of the largest innovation projects that both Westcon and Norled have had. In 2015, Norled launched the world’s first battery-powered car and passenger ferry, MF Ampere.

Ampere has in many ways become an icon of the green revolution of the ferry industry. In 2022, more than 70 Norwegian ferries will sail on battery and contribute significantly to climate and environmental emissions. Our ambition is that the upcoming hydrogen ferry will become a new icon that will put Norway on the map to an even greater extent in maritime zero-emission technology and where the project will demonstrate that hydrogen can be used on energy-intensive connections where battery technology alone is short, says Breivik.

Change Matre in Westcon says that the shipyard and subcontractors will employ about 150 people mostly to build the two ferries that will be ready in March and May 2021. The yard will mostly use Norwegian subcontractors on the ship equipment side, while parts of The hydrogen system will be purchased from Europe.

A total of 299 passengers and 80 cars can be accommodated in the ferries. The advantage of hydrogen as a zero-emission fuel is that it is better suited to supply larger amounts of energy to the ferry propulsion systems. This feature can be used to increase sailing distance or to have high speed, such as on speed boats. The contract partners have agreed not to publish the contract value.

Reference: norled.no

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ABB Opens Marine Service Center For Supporting Growing Arctic Maritime Industries

The newly inaugurated center will support ABB’s ship power, propulsion and automation technologies and expand service capabilities for ice-going vessels.

The new Marine Service Center is built on a decade of local ABB services in support of ice-going vessels. It relies on a strong core of engineering expertise in Murmansk. In 2009, 15 vessels featuring the group’s equipment byABB’s engineers who were operating from smaller scale service facilities in Murmansk. While in 2019, the number of ships has exceeded 50, with projects covering over 100 Azipod® propulsion units. ABB has expanded its service capabilities by opening a new and dedicated service facility for responding to the needs of a growing customer base.

“Opening the Murmansk Marine Service Center is a truly special moment for ABB in Russia,” says Juha Koskela, Managing Director, ABB Marine & Ports. “We work relentlessly to ensure that our services meet customer needs and expectations locally. Murmansk becomes the latest facility to join our global network of dedicated service centers that deliver expertise and reliability 24/7, helping manage vessels throughout their lifecycles.”

The new center located in Murmansk, the world’s largest city above the Arctic Circle, occupies 2,000 sq meters. It is a purpose-built facility with its offices, electrical and mechanical testing areas, and a workshop served by overhead gantry cranes. The center also features a warehouse for Azipod® propulsion and electrical spare parts to ensure shortest delivery times and to further enhance responsiveness.

“With an initial staff of 20, including 12 local field engineers, the new Marine Center is well positioned to accommodate the needs of our growing customer base, alongside an additional pool of service engineers on the island of Sakhalin in Russia’s Far East,” said Sergey Shevchuk, Local Business Manager, ABB Marine & Ports Russia.

The new center is also going to provide Russian language support to owners within the worldwide ABB Ability Collaborative Operations Centers network. Seven global Collaborative Operations Centers connect into shipboard sensors to monitor the equipment onboard and support remote preventive and even predictive maintenance as part of ABB’s ‘Electric. Digital. Connected.’ approach.

ABB’s technologies are widely used for vessels operating in the Northern Sea Route. ABB has delivered Azipod® electric propulsion systems to over 80 icebreakers or ice-going vessels with a combined propulsion power of up to 45 MW. ABB’s Azipod® icebreaking propulsion is capable breaking 2.1 m thick ice, which eliminates the need for conventional icebreaker assistance and makes it possible for vessels to cross the Northern Sea Route independently.

Azipod® propulsion is a gearless system where the electric propulsion motor is located in a pod outside the ship hull. Thrusters can turn 360 degrees, providing greater maneuverability for vessels compared with the conventional propulsion systems, which is particularly crucial when operating in ice.

Reference: abb.com

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Brittany Ferries Commits To Portsmouth By Extending Long-Term Agreement

The relationship between Portsmouth International Port’s relationship and the major European ferry operator, Brittany Ferries, has been strengthened. They have announced a joint long-term agreement for additional five years.

This means Brittany Ferries is committed to Portsmouth until the end of 2031. During this time further three ships will join the current fleet serving routes from the city. Alongside the Honfleur, Brittany Ferries’ state-of-the-art environmentally friendly ship powered by Liquid Natural Gas (LNG), Galicia and Salamanca will both be based in Portsmouth from 2021.

Additional ferries will increase freight numbers and holidaymakers. Currently, the port welcomes over 1.85 million Brittany Ferries’ passengers annually. This makes it one of the UK’s most popular routes for travelling to France and Spain.

Recently the council approved £19m of investment to transform the facilities and overhaul existing infrastructure for meeting up customers’ expectations. It is now a critical priority to replace the 30-year-old passenger boarding tower, required for foot passengers to get access onto the ships.

Cllr Gerald Vernon-Jackson, Leader of Portsmouth City Council said: “This is fantastic news for the city. We are delighted that one of France’s premier travel brands, Brittany Ferries, continues to demonstrate their commitment to Portsmouth.

“This also shows the importance of continued investment to make sure the Port is in the best possible position to remain operating as the UK’s most successful council-owned port.

“Long-term reassurance from Brittany Ferries means the city’s residents benefit from a thriving commercial port, which contributed nearly £8m to the council’s budget. This has been essential in helping provide services for the city’s most vulnerable residents.”

Major projects to improve facilities have already included a brand new energy efficient £9m linkspan, which is best described as a drawbridge to get cars and lorries on and off of ferries. This latest piece of infrastructure will be in place for the next 30 years.

Christophe Mathieu, CEO for Brittany Ferries, said: “Brittany Ferries is delighted to reaffirm its commitment to Portsmouth International Port, our international hub for operations serving France and Spain. Extending our relationship until 2032 will provide further certainty for future plans and supports the on-going investment we are making in fleet renewal.”

In 1976, Brittany Ferries first sailed into Portsmouth International Port as one of its earliest customers. Owned and operated to this day by Portsmouth City Council, the Port has worked closely with Brittany Ferries for the last 40 years. It has been the one and only ferry operator to use the Port on a constant basis during the last four decades.

Reference: portsmouth-port.co.uk

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SLPA Holds 100% Ownership Of East Container Terminal (ECT)

The Sri Lanka Ports Authority (SLPA) observes recent reports in the press about the predicted Memorandum of Cooperation (MoC). This MoC is between the three governments of Sri Lanka, Japan and India on the East Container Terminal of the Port of Colombo and makes the following release to both clarify and inform interested stakeholders.

Firstly, the Authority believes that the envisaged MoC demonstrates Sri Lanka’s ability to maintain and further its’ national interests while cooperating with International Partners. According to the report, Colombo Port is ranked 11th in connectivity (Drewery, 2018) and 22nd among global ports (Alphaliner, 2018).

These ranks were reached by SLPA owned Jaya Container Terminal (JCT) working in partnership with South Asia Gateway Terminals (SAGT) and Colombo International Container Terminals (CICT). SLPA’s ownership stake in SAGT and CICT terminal operators is 15%. Both of these partners have contributed extremely positively to Colombo Port achieving its’ current status.

SLPA believes that the envisaged new partnership will help the Port of Colombo to continue growth and further improve its position.

Within the next three decades, over 45% of global GDP and trade is predicted to originate or be located within the Asian region. In this ultra-connected world, deep relationships with multiple trading partners is not only prudent business, it is critical to ensuing Colombo Port remains relevant to global trade.

Secondly, the envisaged Memorandum of Cooperation (MoC) codifies the following:

SLPA retains 100% ownership of East Container Terminal (ECT).

The Terminal Operations Company (TOC) conducting all East Container Terminal operations is jointly owned; Sri Lanka retains a 51% stake, and the joint venture partners purchase a 49% stake.

The envisaged Japanese loan carries one of the best loan terms Sri Lanka has obtained. However, given that the loan terms are awaiting formalization, it would be premature for SLPA to comment.

The 51% stake is also one of the best in SLPA joint ownership endeavors. SLPA’s majority ownership in the new TOC represents a significant step in prioritizing National Interests. These elements combined allow Colombo Port to develop at a faster pace than would otherwise be feasible using SLPA’s own funds.

Thirdly, the global cargo trade is an extremely competitive, fast-paced, rapidly evolving industry, that requires Ports to be timely in their capacity expansion, execution, and service levels. The envisaged MoC is a significant step in ensuring Colombo Port delivers on these goals in an agile manner.

Reference: slpa.lk

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NYK Joins TCFD(Task Force On Climate-Related Financial Disclosures Consortium) Of Japan

NYK has announced that the company is in support of recommendations by the Task Force on Climate-related Financial Disclosures (TCFD) and is participating in the TCFD Conotrium of Japan which is established on May 27, 2019. NYK says that its prime aim is to improve its climate change-related disclosures through discussion and information-sharing in the consortium.

1. Background

In 2018,  its medium-term management plan “Staying Ahead 2022 with Digitalization and Green” was released. NYK announced the group’s intent to integrate environmental, social, and governance (ESG) initiatives into management strategy to positively address the tough issues that challenge our society. In fact, NYK has positioned climate change as one of the company’s most important issues and has demonstrated such by establishing medium- to long-term environmental targets and becoming the world’s first company in the global shipping business sector to issue labelled green bonds.

NYK aims to enhance these initiatives and help stakeholders understand well about the effects of climate change to the business and strategy by expanding the company’s disclosure of relevant information in accordance with TCFD recommendations.

2. TCFD Consortium of Japan

NYK has joined the consortium to share and discuss relevant information about effective climate change disclosures. On May 27, the first meeting was attended by the general manager of the Environment Group, Masahiro Takahashi.

The consortium comprises 164 members in Japan, including financial institutions and business corporates pursuing climate-related financial disclosures recommended by TCFD, in addition to the Ministry of Economy, Trade and Industry, the Ministry of the Environment, and the Financial Services Agency as observers.

3. Future

NYK says that it aims to improve its climate change-related disclosures in accordance with TCFD recommendations through discussions at consortium working groups and within the company.

Reference: nyk.com

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BIMCO Says Only International Action Will Stop Increase Rate Of Piracy

The International Maritime Bureau’s fresh annual report shows that piracy numbers increased in 2018 after the attacks in West Africa. In terms of military and law enforcement, an international operation is not complicated, so the thing needed is willingness to act against these piracy.

According to the bureau’s report, there were 201 incidents in total* reported to the bureau last year. That is a rise from 180 incidents in 2017 and from 191 in 2016. Of this, 48 incidents took place in Nigeria, up from 33 in 2017 and 36 incidents in 2016.

The report also showed that there is a considerable spike in violence in the last quarter of the year in the region. The crime included 40 kidnappings in the waters off Nigeria alone. In West Africa, there appears to be challenges with underreporting, which is estimated at as much as 40%, the report says.

Where there is a will…

Turning the tide of piracy and attacks is not a difficult operation in terms of military and law enforcement, according to Jakob P. Larsen, BIMCO Head of Maritime Security. The will to act and get both local and international involvement and cooperation on the other hand, may be.

“To be honest, unless we see international naval support and close cooperation between international navies and local law enforcement, I doubt that we will see the numbers go down in any significant way,” Larsen says.

“Significant capacity building is going on in the region and naval forces are being trained, but these initiatives are all aimed at the longer term and do not solve the problem right now. Therefore, we need to step up the effort. Only then can we really turn the tide on piracy in the region,” he says.

Larsen believes that what is needed is to combine the capacity building with more assets at sea and in the air in order to achieve a more robust local law enforcement.

Not a complicated operation from a military point of view

He has noticed a tendency to believe that because of other marine activity in the area such as supply vessels, fishing vessels and other small boats, an anti-piracy operation would be very difficult, complicated and involve a big risk of firing at the wrong people.

“I don’t agree. I don’t think it is very difficult, nor too risky, and I believe that the challenges are sometimes exaggerated,” Larsen says.

“From a strictly military and law enforcement point of view, this is not a complicated operation, and it has been done before in other parts of the World with success. It may however be complicated from a political point of view. It all comes down to will. If local politicians and the international community are willing to support this, then it can be done relatively easily,” he says.

Today, the local navies are doing a tremendous job with the resources they have available. Battling both insurgencies, terror organisations and other criminal activities however, there is simply not enough law enforcement resources to fully tackle the piracy threat. The result is that pirates continue to strike in the Gulf of Guinea and continue to constitute a big threat to commercial shipping.

“In the light of the new report, showing that piracy rose in 2018, we are once again calling for international navies to deploy to the region of West Africa primarily, and to cooperate closely with law enforcement from the region,” Larsen says and continues:

“This is in the interest of everybody. It is obviously in the interest of the seafarers, but each and every one of the naval powers in the world have a strategic interest in this region, since there is a lot of strategic commodities that comes out of the Gulf of Guinea region. It really is in the interest of the international society to make this trade smoother, and to protect the seafarers on whom we so deeply depend to keep the trade flowing,” Larsen says.

Reference: bimco.org

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BIMCO And ASBA Begin To Develop Gas Tanker Voyage Charter Party

One of the most widely used tanker charter parties in the world, ASBATANKVOY, will form the basis when BIMCO and the Association of Ship Brokers & Agents (U.S.A.) Inc. (ASBA) begin to jointly develop a charter party specifically for use in the gas tanker trade.

On 14 May BIMCO’s Documentary Committee countersigned that work should be undertaken jointly with ASBA to develop the standard gas voyage charter party at its meeting  in Athens. The charter party will be code named ASBAGASVOY. Earlier this year, ASBA’s Board gave its full support to the joint development with BIMCO of ASBAGASVOY.

“I am pleased that ASBA and BIMCO come together on this important project. BIMCO is a natural partner in our strategy to create a standard charter party for the gas tanker industry which has the potential to enjoy the same wide recognition as ASBATANKVOY,” says Søren Wolmar, chairman of ASBA’s Documentary Committee and ASBA co-chair of the subcommittee that will be developing the new charter party.

ASBATANKVOY was created as a balanced document, and the intention is to maintain the balanced nature are the reasons behind its success. The new form will maintain the clauses from ASBATANKVOY, which are generally relevant to the tanker trade, while replacing specific oil tanker clauses with clauses addressing the specialised nature of the gas tanker trade e.g. in relation to presentation of the vessel.

“A dedicated gas tanker charter party will be particularly useful for BIMCO’s membership, which includes many gas tanker operators. By joining forces with ASBA, we can make sure that BIMCO’s contracts and clauses include an updated and balanced gas tanker charter party form, which owners and charterers can easily use,” says Stephen Harper, Head of Legal, Shipping at BW Group and BIMCO co-chair of the subcommittee.

The new form is intended for use of chartering tankers for LPG, anhydrous ammonia and chemical gases. LNGVOY, a voyage charter party for the carriage of liquefied natural gas, was published jointly by BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) in 2016.

Representatives of Clarksons, Nordisk Legal Services, Petredec and Thomas Miller P&I (Europe) Ltd. will be part of the development work. The first meeting of the subcommittee will be held on 25 June 2019.

Reference: bimco.org

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MOL Techno-Trade Ceremony Marks Participation In Green Award Program

Mitsui O.S.K. Lines, Ltd. (MOL) announced that on May 20, its group company MOL Techno-Trade, Ltd. (MOL Techno) held a ceremony whose aim was to promote “Quality Shipping”(Note 1) on a global scale. This ceremony was held to to mark its participation in the “Green Award Program” (Note 2). The program is governed by the nonprofit Green Award Foundation, which was established with the objectives of protecting the marine environment and enhancing the safety of vessel operation. At the ceremony, President of MOL Techno Hatta received a plaque from Green Award Foundation Executive Director Jan Fransen.

MOL Techno encourages efforts to reduce environmental impact by offering its energy-saving Propeller Boss Cap Fins (PBCFs) at a 3% discount of contract prices to Green Award certified vessels and shipping companies (Notes 3 and 4). Effective April 1, preferential points are added to owners of vessels equipped with PBCF in the screening item, “measures for underwater noise and vibration,” which targets shipping companies.

The MOL Group works continually to reduce the environmental impact of its activities by addressing the needs of customers and society through product development and technological innovation.

(Note 1)
Quality Shipping
This refers to action programs that enhance ship management and operation from both aspects of safety (prevention of marine incidents) and the environment (protection of the marine environment).

(Note 2)
Green Award Program
The program aims to improve the quality of vessels and mariners and protect the marine environment by certifying vessels for excellence in safety and low environmental impact. Companies that share the foundation’s goals support them by providing incentives.

(Note 3)
PBCF
Propeller Boss Cap Fins (PBCFs) are an energy-saving device that reduces a vessel’s fuel consumption by 3% to 5% by eliminating the hub vortex generated behind the rotating propeller and improving propeller efficiency. It was jointly developed by MOL, West Japan Fluid Engineering Laboratory Co., Ltd., and Mikado Propeller Co., Ltd. (now Nakashima Propeller Co., Ltd.), and it has been widely adopted worldwide since its launch in 1987. To date, over 3,300 vessels have been equipped with the PBCF. MOL Techno, MOL, and Akishima Laboratories (Mitsui Zosen) Inc. continue to move ahead on joint research, and the PBCF is continually evolving.

Reference: mol.co.jp

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USCG Awards ARC With AMVER For Their Commitment To Safety At Sea

American Roll-On Roll-Off Carrier (ARC) announced that the United States Coast Guard has recognized three of the company’s U.S.-flag vessels for their ongoing commitment to safety at sea. The following ARC vessels earned the prestigious AMVER Awards in 2018: M/V Integrity (18), M/V Liberty (12), M/V Patriot (12). The numbers following the vessel names are the number of consecutive years the vessels have earned awards.

“ARC is honored to be recognized by the United States Coast Guard as we strive together to ensure effective compliance, maritime safety, security and stewardship,” said ARC President & CEO Eric Ebeling. “We take this opportunity to thank the Coast Guard for always staying ready and for playing an essential role in supporting the U.S.-flag fleet.”

AMVER, or Automated Mutual-Assistance Vessel Rescue System, is a worldwide voluntary reporting system sponsored by the United States Coast Guard. The AMVER Awards, as part of National Maritime Day, are presented annually to merchant vessels that voluntarily report their positions to the United States Coast Guard at least 128 days in a calendar year. These vessels may then be called upon to assist in maritime emergencies and search and rescue cases around the world. In 2018, 82 lives were saved by these voluntary participating ships. They help ensure that no call goes unanswered for which  more than 7,500 ships have participated in the AMVER program.

Reference: arcshipping.com

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Ports Of Amsterdam And Rotterdam Participates To Study Methanol As Marine Fuel

Maritime Knowledge Centre has supported a consortium of leading international maritime companies, to join forces to study methanol as a marine fuel. It aims to investigate the feasibility of methanol as a sustainable alternative transport fuel in the maritime sector. Major shipowners Boskalis, The Royal Netherlands Navy, Van Oord and Wagenborg Shipping, together with shipbuilders, Damen Shipyards, Feadship, Royal IHC and major marine engine manufacturers Pon Power and Wärtsilä together with their trade association VIV will take part in the consortium. Specialized marine equipment suppliers like Marine Service Noord and maritime service providers including C-Job Naval Architects complete the maritime supply chain.

For studying the infrastructure and supply chain for methanol is also addressed by the participation two largest ports of The Netherland; Rotterdam and Amsterdam, as well as methanol suppliers BioMCN and Helm Proman and trade organization Methanol Institute.

“Together the consortium partners – which include all the main stakeholders in the transport supply chain – bring extensive experience and knowledge which will help to make this project a success,” says Pieter Boersma, Business Director Maritime & Offshore of TNO. “The inclusion of shipowners, shipyards, OEMs, ports and methanol suppliers demonstrates the strong interest to integrate experience and knowledge from the entire value chain in the Green Maritime Methanol project. As part of the project, the partners will look at concrete possibilities to adopt methanol as marine fuel on either newbuilds or conversions of the existing fleet. ”

Finally, some of The Netherlands’ leading research institutes including TNO, TU Delft, NLDA and Marin will provide knowledge-building and research capacity for the project by studying operational profiles, ship configurations, engine configurations, performances, various emissions as well as many other relevant topics.

The Green Maritime Methanol project is expexted to be completed within two years and is supported by TKI Maritime and the Netherlands Ministry of Economic Affairs.

Reference: marine-service-noord.com

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ROASTOM Launches The World’s Largest Nuclear Powered Ice Breaker ‘URAL’

Russia’s nuclear energy giant, ROSATOM, launches the nuclear-powered arctic ice breaker ‘Ural’. ROASTOM has completed another step towards ensuring all-year round navigability of the Northern Sea Route (NSR). ‘Ural’ is 173 meter long and is equipped with two highly efficient and compact RITM-200 nuclear reactors on board, capable of generating up to 350MW combined, allowing the ship to break through ice as thick as 3 meters. The cutting edge RITM-200 type reactor makes its world debut on the ‘Ural’ as well as on its sister vessels from the 22220 project, the ‘Arktik’ and the ‘Sibir’, before ROSATOM deploys it in floating and landlocked nuclear power plants.

Another unique feature of the project 22220 vessels includes the dual-draught design of ‘Ural’. Ballast tanks inside its hull can be adjusted easily to alter the ship’s draught depending on whether the vessel needs to navigate the Arctic sea or shallow river estuaries. With this smart design solution, ROSATOM is essentially getting two types of ice breakers for the price of one, representing a potential cost saving of hundreds of millions of dollars.

Commenting on today’s ceremonial launch, ROSATOM Director General, Alexey Likhachev, said: “The ‘Ural’ together with its sisters are central to our strategic project of opening the NSR to all-year activity. Our goal for 2024 is for more than 80 million metric tons of shipments to pass through the NSR. We also plan to add two more project 22220 ships to our nuclear icebreaker fleet by 2027. The contract for construction of these icebreakers is expected to be signed by the end of this August”.

Rosatom has been given the lead in the development of the NSR infrastructure by The Russia Government. The total amount of funding for the NSR development project is 734.9 billion roubles for six years. Up to one third of that of the  total, that is 274 billion roubles, will be provided from the government budget. The remaining two-thirds, which is over 460 billion roubles, will be funded by investors, including Rosatom, Rosneft and Novatek and others, who are interested in transporting cargo along the Arctic sea route.

Reference: rosatom.ru

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During Ramadan Indian Seafarers Live In Horrific Conditions Abandoned At Sea

During the Ramadan period and prior to Eid, everyone wants to spent time with  family. But there remain some Indian seafarers who continue to live in desperate conditions abandoned at sea. The ongoing issue of abandoned Indian seafarers off the UAE coast living isolated from their family is due to the continued failure to pay thier wages by Marine Service LLC to pay their wages. Some wages are pending for over 28 months, this must now be brought to an end.

Human Rights at Sea is reliably informed that the owner, Rashed Abdulla Al Falasi, keeps negotiating the remaining and outstanding salaries, despite the fact that the Dubai-based law firm, Fitche & Co has arrested two of his vessels. He has offered the crew the payment of only 50% of their dues and they were in such a desperate situation that the majority accepted this offer without further negotiation.

The latest testimony from two remaining crew of the vessel MV Tamim Aldar is reproduced below in the seafarer’s own words.

“Ramadan karim mubarak to everyone.

My vessel M.V. Tamim Aldar ,

We 2 only remain onboard who complaint regarding abandonment my self vikash mishra seo and chief engineer arsu lobo indian nationality.

We do not bunker and provision and spare parts & drinking Water. vessels is extremely dangerous situation.Not under command ,main engine ,main generator is not operational vessel is fully loaded least to stbd side {3.5 degree} only emergency generator can be start for 20 minutes.

Port side free board is 2.5 meter but stbd side free board is 1 meter.

As I informed before if any how flooding will take place in engine room or ballast tank we will not be able to pump out.

And some unpleasant situation will occur .
Which could be dangerous for ship as well as for our life too.

Kindly help us and bound company to give us our remaining pending salary and signoff . We are mentality and physically sick & weaker {31 month running onboard}.

My Chief engineer is 49 year old he have health issues.

Please do all the needful to send us home as soon as possible.

We will be thankful to you. Please find the attachment of our life in tamim aldar our life is now in your hand.

Waiting for your kind reply.
Kind regards
M.v tamim aldar

Vikash Mishra”

Human Rights at Sea has consistently stated that in today’s society of a multi-billion $ industry such poor management behaviours by maritime companies and owners towards their employees is entirely unacceptable.

Since late 2018, when the organisation first became aware of the terrible circumstances of the crews off the UAE coast, alongside other welfare organisations and national authorities, it has consistently advocated and campaigned for justice for these men and their families through case studies and personal testimonies.

It is now time for the UAE government not just to arrest the company’s vessels, but deny the liberty and commercial freedom of the Eliteway Marine owners and Board members who continue to fail to pay all wages owed, without exception.

Reference: humanrightsatsea.org

 

 

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A.P. Moller – Maersk Reports A Significant Hike In Earnings And Strong Cash Flow In Q1

A.P. Moller – Maersk has closed the first quarter of 2019. It provided a huge increase of  33%  in earnings before interest, tax, depreciation and amortization (EBITDA) to USD 1.2bn while revenue grew by 2.5% to USD 9.5bn  as compared to Q1 2018. There is an improved operating cash flow to USD 1.5bn and free cash flow was USD 3.5bn, which also includes sale of shares in Total S.A.

“We had a good start to 2019. In Q1, revenue grew by 2.5%, operating earnings improved by 33% and cash flow from operations doubled to USD 1.5bn. With a strong free cash flow of USD 3.5bn after the sale of the remaining shares in Total SA., we have significantly strengthened our balance sheet. Net interest-bearing debt has been reduced by USD 2.4bn since Q4 and by USD 7.1bn since Q1 2018,” says Søren Skou, CEO of A.P. Moller – Maersk.

Profitability in Ocean has been increased. EBITDA grew 42% to USD 927m compared to same period last year. There is a singnificant increase of 3.9%  in average loaded freight rates and an improvement in total operating cost of 2.8%. Revenue increased to USD 6.9bn despite lower volumes which declined 2.2%, impacted by the front loading seen on the Pacific trades in Q4 2018 and weak demand on Latin America and Oceania trades.

Looking at terminal profitability, the opening of the Moin terminal, Costa Rica and positive underlying volume growth in gateway terminals had a positive impact on terminal profitability in Q1. Terminals & Towage reported an increase in revenue to USD 991m from USD 911m and in EBITDA to USD 267m from USD 244m compared to same quarter last year.

Logistics & Services reported a decrease in revenue in Q1 2019 by 0.5% to USD 1.4bn driven by lower air freight forwarding revenue. EBITDA increased to USD 51m from USD 45m in Q1 2018.

Progress on transformation

The strategic transformation also progressed. In the first quarter, Maersk delivered combined synergies of USD 130m. Cash return on invested capital (CROIC) improved to a positive 6.7% from a negative 5.9%, driven by higher earnings, strong cash conversion and a reduction in invested capital.

“We made good progress on the transformation, where we have completed the separation of the energy businesses, further integrated our organisation and continued to improve our product portfolio. This resulted in a solid cash return on invested capital and delivery of synergies, getting us closer to our target of USD 1bn by end of 2019. Non-Ocean revenue and gross profit in Logistics & Services grew, but needs to accelerate in the coming quarters,” says Søren Skou.

Non-Ocean revenue grew by 3.8% in Q1 when adjusted for the closing of production facilities in Maersk Container Industry. Logistics & Services improved gross profit by 2.2%, positively impacted by growth in intermodal and from warehouse facilities.

The return on invested capital (ROIC) improved in Q1 to a positive 1.3% from negative 0.5%. The long-term target of a ROIC above 7.5% is reaffirmed.

Share buy-back, cash distribution and a new dividend policy

As part of the intention to distribute a material part of the value of shares received in Total S.A in connection with the sale of Maersk Oil, the Board of Directors has decided to exercise the authority to buy back shares with a maximum value of DKK 10bn (USD 1.5bn). The program will run from June 2019 and over a period of up to 15 months. After execution of the program, the Board of Directors will evaluate the capital structure and outlook for A.P. Moller – Maersk with the intention to distribute additional cash to shareholders, subject to maintaining investment-grade rating.

Guidance for 2019

Subject to the current risk of further restrictions on global trade and other external factors impacting freight rates, bunker prices and foreign exchange rates, A.P. Moller – Maersk reiterates its guidance of an EBITDA of around USD 5bn, including effects from IFRS 16.

Furthermore, guidance on CAPEX of around USD 2.2bn and a high cash conversion is maintained with an estimated organic market growth in volumes in Ocean of 1-3% for 2019.

Highlights Q1

Revenue

USD MILLION	2019	2018*
OCEAN	6,929	6,810
LOGISTICS & SERVICES	1,448	1,455
TERMINALS & TOWAGE	991	911
MANUFACTURING & OTHERS	558	672
UNALLOCATED ACTIVITIES, ELIMINATIONS, ETC.	-386	-543
A.P MOLLER – MAERSK CONSOLIDATES – CONTINUING OPERATIONS	9,540	9,305

EBITDA

USD MILLION	2019	2018*
OCEAN	927	652
LOGISTICS & SERVICES	51	45
TERMINALS & TOWAGE	267	244
MANUFACTURING & OTHERS	21	48
UNALLOCATED ACTIVITIES, ELIMINATIONS, ETC.	-30	-58
A.P MOLLER – MAERSK CONSOLIDATES – CONTINUING OPERATIONS	1,236	931

CAPEX

USD MILLION	2019	2018*
OCEAN	469	1,074
LOGISTICS & SERVICES	9	8
TERMINALS & TOWAGE	121	101
MANUFACTURING & OTHERS	177	184
UNALLOCATED ACTIVITIES, ELIMINATIONS, ETC.	2	-8
A.P MOLLER – MAERSK CONSOLIDATES – CONTINUING OPERATIONS	778	1,359

* Q1 2018 presented as if IFRS 16 had been implemented in 2018 and adjusting for Maersk Supply Service as continuing operations.

Sensitivities on guidance for 2019

The guidance of A.P. Moller – Maersk for 2019 depends on several factors. Based on the expected earnings level and all else being equal, the sensitivities for the rest of 2019 for four key factors are listed in the table below:

FACTORS	CHANGE	EFFECT ON EBITDA REST OF YEAR
CONTAINER FREIGHT RATE	+/- 100 USD/FFE	+/- USD 1.0bn
CONTAINER FREIGHT VOLUME	+/- 100,000 FFE	+/- USD 0.1bn
BUNKER PRICE (NET OF EXPECTED BAF COVERAGE)	+/- 100 USD/tonne	-/+ USD 0.3bn
FOREIGN RATE OF EXCHANGE (NET OF HEDGES)	+/- 10% change in USD	+/- USD 0.1bn

Reference: maersk.com

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Global Ship Lease Announces To Obtain Three 7,849 TEU Container Ships For $48.5 Million

Global Ship Lease, Inc. (“GSL” or the “Company”), a containership charter owner, announced that it has agreed to acquire three 2004-built, 7,849 TEU containerships for an aggregate purchase price of $48.5 million. At the time of delivery during the second quarter, the first vessel will commence a five-year charter with Maersk Line.  During the third quarter it is expected that the two other vessels will commence three-year charters with Maersk Line, with two consecutive one-year extensions at the charterer’s option. The three vessels are expected to generate Adjusted EBITDA of approximately $32 million in aggregate for the median firm period, and a total of $47 million if all options are exercised. In addition to all these features, the Company’s fleet will comprise of 41 vessels with a total capacity of 224,162 TEU.

The Company has secured new senior secured bank debt to finance a portion of the purchase price. The new debt is on market terms with a maturity of late 2024.

George Youroukos, Executive Chairman of Global Ship Lease, commented, “These acquisitions represent attractive additions to the GSL fleet, extending our collaboration with the world’s largest container liner company and meaningfully expanding our long-term charter coverage. We are building on recently announced multi-year charters for our high-specification vessels with best-in-class slot costs. With anticipated net fleet contraction over the near-term in the majority of the sub-segments represented by our fleet, combined with consistent demand growth for these workhorse vessels, GSL is in an excellent position to continue creating significant shareholder value moving forward.”

Ian Webber, Chief Executive Officer of Global Ship Lease, commented, “Already during 2019, we have added almost $130 million of contracted EBITDA to our extensive backlog, ensuring that the Company will experience multiple years of benefit from the strong market for mid-sized and smaller vessels. Our integrated management platform and access to capital positioned us to seize this uniquely attractive opportunity, and we intend to continue pursuing additional opportunities to expand our fleet, increase our contracted revenue stream, optimize our balance sheet, and opportunistically lower our cost of capital.”

Reference: globalshiplease.com

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Sembcorp Marine Completes World’s New Generation Strongest Semi-Submersible Crane Vessel

SSCV Sleipnir is a new-generation semi-submersible crane vessel created by Sembcorp Marine and has features that is not possessed by any of the existing crane vessel. It consists of a pair of revolving cranes which is capable in lifting 20,000 tonnes in tandem.  The vessel is also the first dual-fuel crane vessel. Its engines runs on MGO and LNG for sustainable operations.

The world’s biggest semi-submersible crane vessel (SSCV) is set to blaze a trail when it enters into service in the coming months. Its specialities includes armed with the strongest pair of revolving cranes for offshore oil, gas and renewable energy installation and decommissioning jobs.

It is named after the Norse God Odin’s eight-legged stallion and newly completed at Sembcorp Marine’s Tuas Boulevard Yard for owner Heerema Marine Contractors. SSCV Sleipnir has a 220-metre by 102-metre reinforced deck area, making it the largest crane vessel to be built.

Sleipnir can accommodate 400 persons and will be availed globally for installing and removing jackets, topsides, deep-water foundations, moorings and other offshore structure.

Sleipnir will minimise offshore assembly work and will probably raise operational efficiency to a new level, without compromising the flexibility and robustness of traditional installation methodologies. This will be achieved due to its single-lift capability catering to larger integrated structures than previously possible.

The vessel further stands out as the world’s first crane vessel with dual-fuel engines running on Marine Gas Oil (MGO) and Liquefied Natural Gas (LNG). Coupled with an IMO- and US Coast Guard-approved ballast water management system, Sleipnir will operate sustainably across all environmental jurisdictions.

Heerema has already secured contracts to deploy the vessel in various offshore energy developments, including: Leviathan topsides installation in the Mediterranean Sea; Tyra jackets and topsides installation and removal in the Danish North Sea; Brae B jackets and topsides removal in the UK North Sea; as well as transportation and installation of the Hollandse Kust Zuid (HKZ) Alpha HVAC platform in the North Sea, off the Dutch coast.

In the offshore wind sector, Heerema sees a significant growth in the size of wind turbines and foundations, which requires specialised equipment for their installation.

With its large cranes capable of a 129-metre lifting height and a combined 20,000-tonne lifting capacity, Sleipnir is very well placed to accommodate this trend of increasingly bigger offshore wind turbines.

Speaking at Sleipnir’s christening in Tuas Boulevard Yard this evening, Mr Pieter Heerema, Chairman of the Board at Heerema Marine Contractors, said: “I am immensely proud that Heerema Marine Contractors is again taking things further with the introduction of our new semi-submersible crane vessel. Sleipnir scores several firsts in the industry: It is the largest crane vessel yet built; it has the strongest pair of revolving cranes; and it’s also the world’s first crane vessel with dual-fuel engines running on MGO and LNG, dramatically reducing harmful emissions. Sleipnir’s innovative capabilities will place Heerema even firmer at the forefront of developments in the offshore oil, gas and wind energy industry for both installations and decommissioning.”Mr Heerema added: “Sembcorp Marine in Singapore was chosen to build Sleipnir for their professionalism and dedication to the project. The excellent cooperation between Heerema and Sembcorp Marine ensured that the project was executed smoothly, on budget and according to the best possible safety and quality standards.”

At its peak, the construction of Sleipnir involved up to 3,700 workers in a single shift. The project has a current Lost Time Injury Rate (LTIR) of 0.35 per million man hours worked, a commendable safety performance which Sembcorp Marine President & CEO Mr Wong Weng Sun said reflects the Group’s strong safety commitment.

Mr Wong said: “In a safe environment, we can bring our best-quality work into building a reliable vessel, and this in turn helps ensure the safety of the future officers and crew aboard. Our safety mind set therefore goes beyond the successful completion of a project. It effectively complements our continuous focus on innovation and technology development, enabling us to deliver world-class products to Heerema and all other customers.

“Sembcorp Marine is grateful to Heerema Marine Contractors for giving us the opportunity to build the world’s biggest, strongest and first dual-fuel semi-submersible crane vessel at our flagship Tuas Boulevard Yard.”

SSCV Sleipnir was named by lady sponsor Mrs Maha Hatfield. The vessel is expected to depart for sea trials shortly and is scheduled for delivery to Heerema soon afterwards.

Reference: sembmarine.com

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MOL Releases ‘Fleet Viewer’ To Enhance Application Of Ship Operation

Mitsui O.S.K. Lines, Ltd. (MOL) announced that MOL, Mitsui E&S Shipbuilding Co., Ltd., and Weathernews Inc. jointly released “Fleet Viewer,” as part I of MOL’s “FOCUS” Project intended to enhance the collection and application of ship operation data.

Ocean shipping industry has the main aim of ensuring safe vessel operation, and also safeguarding the transport of people and cargo . Maintaining safety and addressing problems on board have relied on the skills and experience of seafarers on the front lines, because ships travel such great distances, and while they could maintain radio or telephone contact with shore side personnel, physical distance and telecommunications limitations meant they could not be “watched” from shore. It is quite similar to the situation where doctor at a local clinic telephoning a hospital for an advice on treating a patient.

The Fleet Viewer is designed for preventing problems, with the option of switching to “treatment” in case of a failure, and to share about know-how between the “hospital” onshore and the “clinic” far out at sea. In other words, not only the crewmembers onboard while underway, but also ship management superintendents on land can observe, diagnose, and treat the ship’s operating status if external help is required. It enables MOL to offer safer transport services to customers by sharing the knowledge gained by analyzing accumulated Big Data throughout the fleet via the FOCUS Project.

Fleet Viewer System

The Fleet Viewer collects nearly 6,000 items of sensing data at a uniquely high frequency (one-minute intervals), which allows it to determine the status of vessels, the operational status of all equipment, vessel position, ocean and weather information, and share all this among vessels and shore-based personnel, anywhere in the world. The Fleet Viewer, has a user-friendly interface and is capable to handle enormous data volume.

Users can not only instantly recognize the status of vessels, delve into data, and send push notifications, but also customize the content of the system. The customized content can be shared among them. The Fleet Viewer is an application that can continue to evolve along with its users’ needs.

‘FOCUS’ Platform

Vessel operation data is collected and stored on the cloud with part of ABLOG data. The accumulated data is used through the development of various applications to enhance safe operation and reduce environmental impact.

Future plan to develop the ‘FOCUS’ project

As the second step following Fleet Viewer application, slated to appear around October of this year, the project team plans to release an application having the capability to assess the degradation of vessel performance over time which is now difficult to do from shore.

The team also plans to sequentially develop and release various applications.

Through the FOCUS project, MOL aims to expand the development and adoption of applications that gather and apply ship operation data, promote trouble-free ship operation, and provide stress-free transport services.

Reference: mol.co.jp

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MOL To Partiipate In Consortium Aiming At Climate-Related Risks

Mitsui O.S.K. Lines, Ltd. (MOL) announced that it will participate in the Task Force on Climate-related Financial Disclosures (TCFD) Consortium (Note 1), which was established to provide a forum for discussions among corporations and financial institutions that agree with “TCFD recommendations” (Note 2).

This aims to ensure that companies factor in climate change-related risks and opportunities when they disclose their strategies to investors.

Ministry of the Environment of Japan, MOL analyzed scenarios based on TCFD recommendation in 2018. The “Practical Guide for scenario analysis to integrate climate-related risk and opportunities into its own management strategies by utilizing TCFD recommendation,” which was released in March introduced a part of this analysis.

MOL will utilize knowledge gained through the consortium and engage in effective disclosure of climate change-related risks and opportunities and how they will affect the company’s business.

(Note 1) TCFD recommendation

The final report, released in June 2017 by the Task Force on Climate-related Financial Disclosures (TCFD), which was established by Financial Stability Board (FSB), by reflecting intention of G20 Financial Ministers and Central Bank Governors. Four core elements—governance, strategy, risk management, and metrics and targets—are recommended in the report. One item, “Strategy,” includes scenario analysis, which analyzes opportunities and risks that climate changes have the impact on corporations.

(Note 2) TCFD Consortium

The TCFD Consortium organized and promoted by Kunio Ito, Adjunct Professor, Graduate School of Commerce and Management, Hitotsubashi University and Specially Appointed Professor, Chuo Graduate School of Strategic Management, Hiroaki Nakanishi, Chairman of Keidanren (Japan Business Federation), Makoto Takashima, Chairman of the Japanese Bankers Association, Takehiko Kakiuchi, President and CEO of Mitsubishi Corporation, and Shuzo Sumi, Chairman of Tokio Marine Holdings, Inc.

It provides opportunities for corporations to effectively disclose information related to TCFD recommendations and discuss initiatives for financial institutions and so on to make use of such information in making informed investment decisions.

Reference: mol.co.jp

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Panama Canal Closes Cruise Season With TheTransit Of Pacific Princess

On Wednesday, May 22, with the transit of the Panamax cruise ship Pacific Princess which have a capacity of 670 passengers,the Panama Canal reported the closing of the 2018-2019 cruise season.

This ship is operated by the Princess Cruises line. It sailed from Los Angeles, California  for a 15-day voyage that included the expedited passage through the inter-oceanic route. Its final destination is the port of Fort Lauderdale, in the United States.

Albano Aguilar, specialist leader in International Trade of the Division of Market Analysis and Customer Relations of the Vice Presidency of Traffic Business, indicated that from October 1, 2018 to September 30, 2019, the Panama Canal will register 242 transits of passenger ships with more than 260,000 passengers.

In relation to transits of neopanamax dimensions, for this fiscal year seven ships were received with a total of 12 transits of the Norwegian, Princess, Carnival and Disney lines (Norwegian Bliss, Caribbean Princess, Emerald Princess, Carnival Valor, Carnival Freedom, Carnival Triumph and Disney Wonder).

With the closing of the season, renowned cruise lines such as Princess Cruises, Holland America Line, Royal Caribbean Cruises and Norwegian Cruise Line, among others, maintain their proposal to offer itineraries to complete transits and partial transits that include Panama and in particular, the interoceanic way.

On the other hand, smaller vessels such as the National Geographic Quest and Safari Voyager also contributed to segment traffic. These vessels, with itineraries between eight and 12 days, respectively have visited ports located on the west coast of the Central American isthmus.

Additionally, passenger ships such as Sun Princess, Vidanta Elegant, RCGS Resolute, American Song and Celebrity Flora  did not anticipate pass through the Canal.

Reference: micanaldepanama.com

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