New high efficiency jack-up named

Maersk Contractors has named the latest addition of high efficiency jack-up rigs to the fleet. The new rig is the second in a series of four identical rigs currently under construction for Maersk Contractors. Two more highly advanced, next generation 350ft jack-up rigs will be delivered from Keppel FELS in 2009.

Vroon orders two Wind Turbine Installation Vessels to be operated by MPI Offshore

Friday, Jul 25, 2008
Vroon is pleased to announce that it has secured the construction of two Wind Turbine Installation Vessels which will be operated by its subsidiary MPI Offshore (Stokesley, UK). The new vessels design is based on the current design of MV Resolution (built 2003), which is the only purpose built offshore Wind Turbine Installation in the world and has been owned by Vroon since early 2006. The new vessels will be slightly bigger and will have a number of enhancements, such as a much larger crane (1,000 MT lifting capacity), larger accommodation (112 persons), helideck, enhanced jacking and positioning capability (DPII) and the ability to work in the Offshore Oil and Gas sector.

Aker Philadelphia in US$560 million agreement with Cat Finance

Aker Philadelphia Shipyard has entered into a loan agreement with Caterpillar Financial Services Corporation (Cat Finance) to increase its line of credit to $150 million. Under the agreement, Cat Finance will fund up to $80 million per ship for the construction cost of seven consecutive product tankers, valuing the agreement at $560 million.

Conrad signs contracts totaling US$50.3 million

Conrad signs contracts totaling US$50.3 million

Conrad Industries, Inc. announced the signing of contracts for the construction of fourteen barges, two tugs, a ferry and a major ferry repair, with a total value of $50.3m which brings the current backlog to approximately $106m compared to $93.4 million at September 30, 2007 and $84.5 million at December 31, 2006. The barges include four 222’x54’x12’LPG tank barges which are a new addition to Conrad’s portfolio of products. These will have approximately 16,000 gross barrel capacity and are designed for inland waterway operation. Additionally Conrad has executed contracts with various customers for deck barges, spud barges, shale barges and tank barges that range in size from 120’x30’x7’ to 192’x42’x10’. Also signed were contracts for the construction of two additional 98’, Z-Tech 7500 Class Terminal/Escort Tugs, similar to the four others which are currently under construction at our Orange Shipbuilding facility. Conrad also finalized the contract for the construction of a 160’x32’x13’ aluminum passenger ferry that will transport up to 600 people. This ferry is a Conrad design that was selected over other designs submitted in the bidding process. In addition, a contract was executed for the dry dock inspection of and general repairs to a 500 passenger, 150’x28’ aluminum hull ferry.

Shell and Frontier team up to build drillships

Shell and Frontier team up to build drillships

Shell EP Offshore Ventures Ltd. and Frontier Drillships Ltd., a subsidiary of Frontier Drilling, have signed a deepwater/arctic drillship Joint Venture agreement. Under the agreement, Shell and Frontier will build and rollout a new drillship concept, known as the “Bully” rig. GustoMSC designed the “Bully” as a customization of its proprietary PRD12,000 design drillship, adapting the unit for a Huisman-Itrec Multi-Purpose Tower drilling system.   The “Bully” rig design offers a flexible, smaller but highly capable, vessel suited for deepwater and arctic drilling, while reducing the construction and operational costs compared to other deepwater drill ships of similar capacity. The first vessel for the Shell/Frontier Joint Venture is expected to be delivered by early 2010.   The vessel will feature an ice class hull, allowing safe and efficient operation in arctic conditions. The design calls for less crew and fuel. The new drillships have a significantly reduced environmental impact due to lower emissions through reduced fuel consumption, high efficiency/low emission engines and lower steel use for construction.

High hopes for shipbuilding jobs in UK

Today in our shipbuilding news we feature a key story from the UK an dhow the government are going to invest nearly £4 billion to create two new aircraft carriers which will in turn create a lot of jobs.  For full press article please read on: High hopes for shipbuilding jobs in UK

Hundreds of jobs could be created by the return of shipbuilding to the Wear. Pallion Engineering has been in talks with the Government for more than a year about securing work from a £3.9billion contract to build two aircraft carriers.   Winning part of the contract would provide a future in shipbuilding for a generation who never dreamed of a career in an industry in which Sunderland once led the world.   Pallion Engineering chairman Alan Dickinson today said: “I am reasonably confident that it is good news but I would like to get my name on the contract, then we will have a big celebration.   “This is good news not just for Sunderland but for the whole British shipbuilding industry.   “The total order is £3.6 to £4.6billion, so even one per cent of that is a big thing.   “There will be hundreds of jobs on a new build – there have to be, given the size of the build, the amount of work and all the skills that would be needed.   “We have been talking to the tendering people for the last 18 months. “A job like this gives you a chance to get some apprentices in and give them the training for a career in the industry.”   Pallion Engineering was one of two North East companies named by defence minister Lord Drayson as being in a strong position to win work on the £3.9billion contract.   At the opening of the new £2.3million Marine Design Centre in Newcastle this week he said: “A&P Tyne and Pallion Engineering will be competing for work on the upper blocks.   “This is the largest piece of work the navy has ever had. Building these ships will test the capacity of the whole UK shipbuilding industry.”   The new carriers will be built at various locations around the country, with the parts transported to Rosyth in Scotland for assembly.   As well as the carriers, there will also be work available on a fleet of new support vessels to keep the carriers supplied at sea.   It could also mean a new start for former workers who had given up hope of ever working in the industry again.   Mr Dickinson added:”There is still a lot of skill in the North East but some of those people can’t believe that it can be an ongoing job anymore.   “All they need is the opportunity to come in and do it.”

Abu Dhabi to finance US$10 billion port

Today in our shipbuilding and project news we feature a story from the Middle East and how there will be a $10 billion investment in the Abu Dhabi Port.  For full press details please read on:    Abu Dhabi to finance US$10 billion port

State-owned Abu Dhabi Ports Co. plans to spend about $10 billion building a port and a related industrial zone in the United Arab Emirates for which it will need financing, the firm’s CEO said on Wednesday. Abu Dhabi Ports may sell bonds, including sharia-compliant sukuk, to help finance the construction of the Khalifa Port & Industrial Zone, Chief Executive Officer Ahmed al-Calily told Reuters in a telephone interview.   The financing would also cover costs of a new residential district, he said.   “We are looking at a short-term and long-term financing,” Calily said. The long-term debt could include conventional bonds or Islamic bonds, he said.   The company plans to arrange a short-term loan before the end of the year and then decide on long-term financing, he said.   The project, located at Taweelah, about 35 km (22 miles) northeast of Abu Dhabi, is set for completion in early 2010.   Calily said the long-term financing could include conventional or Islamic bonds. ADPC has appointed HSBC Holding Plc to define the financial strategies. “We will identify each of the components, which will have their own funding structures,” he said.   Abu Dhabi is developing the project to encourage industrial expansion and reduce its reliance on oil. The industrial zone will allow foreign companies majority ownership, one of only two in the emirate. Non-Gulf Arab companies are otherwise entitled to a maximum 49 %.   The project will replace the existing Mina Zayed port in the UAE capital. The new port will have a first-phase capacity of two million 20-foot equivalent units (TEUs) rising ultimately to 8 million TEUs.   Four consortia have been shortlisted for the first phase construction package covering the dredging of 40 million cubic metres of material, Calily said, declining to name the groups. “The contract is in the order of $1 billion and will be awarded by the fourth quarter of this year.”   Abu Dhabi government investment arm Mubadala owns 100 % of Abu Dhabi Terminals, the operating arm of the Abu Dhabi Ports Co. Dubai Ports World, the world’s third largest port operator, will manage the Khalifa Port.

Daewoo News - Daewoo Shipbuilding Boosts 2007 Orders Target by 55%

Today in our shipbuilding news we feature a story from Daewoo who have boosted this years orders to $17 billion which is a 55% increase from last year. Daewoo Shipbuilding Boosts 2007 Orders Target by 55%

Daewoo Shipbuilding & Marine Engineering Co., the world’s third-largest shipyard, boosted its target for this year’s orders to $17 billion, a 55 percent increase from a previous projection.   The shipbuilder met its earlier full-year target of $11 billion after it recently won container-ship orders worth $1.8 billion from two buyers in Europe, the Seoul-based company said today in an e-mailed statement.   The world’s three largest shipbuilders, all based in South Korea, may exceed last year’s record for new contracts as shipping lines buy vessels to bring more raw materials to China and take finished goods to the U.S. and Europe. About 90 percent of global trade moves by sea.   “In the second half, we expect to continue receiving orders for higher-end products including container vessels and offshore platforms,’’ said Nam Sang Tae, president of Daewoo Shipbuilding, in the statement. Container vessels account for $6 billion, or 55 percent, of the company’s secured contracts so far this year, according to the statement. Daewoo Shipbuilding plans to spend 80 billion won ($87 million) by 2009 to expand facilities for container-ship building.   The European orders disclosed in today’s statement are for 13 vessels that will be delivered by March 2011.   Daewoo Shipbuilding said last month it won $3 billion of contracts in June, a record for monthly new orders by a single shipbuilder. The shares have surged 99 percent this year, compared with the 30 percent advance by the benchmark Kospi index.

BP News - BP Takes Delivery of World´s Largest LNG Carrier

Today in project news we feature a press release from BP who have just taken delivery of the world’s largest LNG Carrier.  For full press details please read on:  BP Takes Delivery of World´s Largest LNG Carrier

BP Shipping took delivery this week of the British Emerald, the world’s largest liquefied natural gas carrier (LNGC), the first in a series of dual-fuel diesel-electric gas ships. Built by Hyundai Heavy Industries in Ulsan, Korea, at 155,000 cubic metres she is the largest LNGC to date.   The design and construction of this technologically advanced vessel is more fuel efficient than comparable LNG carriers, which will result in reduced fuel costs and greenhouse gas emissions. The dual-fuel technology allows the diesel engines to run on “boil-off” gases from the cargo tanks or on conventional diesel fuel. The vessel will burn 40 tonnes per day (tpd) less than a conventional LNGC of similar size which would burn about 180 tpd.   Being powered by four diesel-electric engines also provides a significant improvement in propulsion redundancy and the vessel is equipped with a bow thruster to assist in mooring operations.   The British Emerald and her sister ships have an overall length of 288m and a breadth of 44.2m.   The 23 man crew will put the vessel though an extensive commissioning programme lasting approximately 10 days prior to entering service. BP intends to trade this vessel world-wide.   This vessel is the first of a fleet of four “Gem” class LNG carriers; British Diamond, British Ruby and British Sapphire will be delivered in 2008.   Note to editors   BP Shipping operates a fleet of more than 180 vessels of which 100 are on time-charter to support the BP Group’s requirements. BP Shipping has a further role to provide marine assurance for ’everything that floats’ across the BP group.   BP Shipping operates three 138,000 cu m LNG ships built in 2002 and 2003; and five other LNGCs between 127,000 and 135,000 cu m.

Shipbuilding News - Huge demand for seismic vessels

Today we feature a story in shipbuilding news from Oslo in Norway about the booming global ecomomy, the constant rise in Oil & Gas and in turn the need for seismic vessels.  Another industry where demand in outstripping supply. Huge demand for seismic vessels

The booming global economy and high oil price have led to strong demand for seismographic ships. DNV is experiencing a tenfold increase in classification requests compared to previous years.   A growing global economy has led to a strong demand for oil, with high oil prices as a consequence. The search for new offshore hydrocarbon deposits is therefore more active than ever, and the demand for modern seismographic vessels is booming. While the newbuilding activity for these vessels was nearly non-existent just a couple of years ago, the demand is now very strong.   At present, there are 20 seismographic research ships under construction awaiting DNV classification. In 2004, there was only one.   Extensive rebuilding   A huge problem facing the exploration companies is the shipyards’ limited newbuilding capacity. To work around this, other types of vessels with high tractive power are being converted into seismographic vessels. While this method is not necessarily less expensive, it enables the vessel to be operative in a considerably shorter time.   In 2006, ten ships were converted into seismographic vessels and classified by DNV, compared to zero in 2004. Most of the ships were originally cable layers. This year, five conversion projects have been completed and classified by DNV. Another eight vessels are under conversion and awaiting final classification shortly. These boats were mainly fishing vessels. “It is paramount for the ship owners to obtain the seismographic vessels quickly in order to benefit from the high demand from the oil companies,” says Head of Conversions in DNV Maritime Arild Rogne. “Even though rates are currently high, it is hard to predict the market trend and future developments. Thus, newbuildings are a more risky strategy than conversions.”   DNV is a top choice as a classification body.   “DNV has classified seismographic vessels since these vessels were introduced and our vast experience and close collaboration with the leading ship owners and designers make us the preferred alternative for many ship owners,” adds Rogne.