daily collection of mar itime press clippings 2014 –...

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2014 – 061

Distribution : daily to 28700+ active addresses 02-03-2014

Number 061 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Sunday 02-03-2014 News reports received from readers and Internet News articles copied from various news sites.

The Dutch Submarine HNLMS DOLFIJN – S 808 arriving in Willemstad (Curacao) with in the

background seen moored HAL’s ZUIDERDAM

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EVENTS, INCIDENTS & OPERATIONS

RECORD BROKEN ! Last Friday (28-02) the views of my photos uploaded on the “Flickr website http://www.flickr.com/photos/33438735@N08 broke the viewers record with 34.420 views, in 24 hours ! special the photos of the FAIRWAY where viewed many times by the readers, especially the photo of the urinal onboard (as seen right) got 627 views only ! In total since I started the High Resolution photo flickr page, with at present 4376 photos uploaded over 1,588.030 views are recorded until last Friday evening, thank you for watching ! wait for more interresting uploads

26 Sentenced to Death for Plotting Suez Canal Ship Attacks

An Egyptian court sentenced 26 people to death on Wednesday for plotting attacks on ships passing through the Suez Canal, a judicial source said. The defendants were tried in absentia. The verdict by the Cairo Criminal Court came after judges held only one session in the case. One of the defendants, younger than 18, did not receive a death sentence.

The prosecutors charged the group with planning terror attacks on ships passing through the country’s vital waterway, as well as targeting security buildings, foreign tourists, Christians and police. The defendants were condemned for "founding and leading a terror group that aimed to attack people's freedom, damage national unity and (attack) the Suez canal waterway", according to one source.

An Al-Qaeda-inspired group, Furqan Brigades, attacked vessels passing through the canal last year and have vowed to conduct more attacks in the future. However, it was unclear if those sentenced on Wednesday are linked to that group. According to the Washington Post, courts in Egypt routinely convict defendants and give the maximum sentence to those tried in absentia. However, once caught, the defendants receive an automatic retrial. An Islamist insurgency has gained momentum since the army overthrew President Mohamed Mursi of the Muslim Brotherhood in July. The Suez Canal is owned by Egypt, but governed by an international treaty that guarantees free navigation. It provides a vital link between the Red Sea and the Mediterranean, and is 125 miles long. Source : MAREX

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The JO SPRUCE outbound from Rotterdam – Photo : Henk van der Heijden ©

Euronav finalises cash for VLCC purchases

The VLCC MAERSK HIRADO moored in Rotterdam-Europoort – Photo : Jan Oosterboer ©

A meeting of Euronav shareholders this week has approved a $300 mill capital increase against issuance of 32,841,528 new shares. The extra capital will be used as part of the purchase price of the 15 Maersk VLCCs. Following the $50 mill capital increase that took place on 13th January 2014 as well as the issue of a $235 mill seven-year bond and the signing of a commitment letter for a $500 mill senior secured credit facility earlier this month, this approval is the last

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step required for the full financing of the acquisition of the Maersk Tankers’ fleet. By 24th February, 2014, the first two VLCCs had been delivered – ‘Maersk Nautilus’ and ‘Maersk Nucleus’. Source : Tanker Operator

FAIRWAY DEPARTED FROM SINGAPORE

As reported earlier this week Boskalis FAIRWAY completed the large reactivation period at the ST Marine Shipyard and departed yesterday morning from the yard for some dredging trials followed by her first assignment in Korea.

Photo’s : Piet Sinke © CLICK on the photos to view the High Resolution version , Herewith I would like to wish Capt Ton and the FAIRWAY crew a safe trip and very successful dredging jobs !

Latest update on UK North Sea Harding platform incident

TAQA can confirm that a team from the company, along with investigators from Police Scotland and the Health and Safety Executive, has arrived on the Harding platform following the death of a TAQA employee February 27, 2014

TAQA will conduct its own inquiry and is co-operating fully with all external investigations. The company is also currently offering its full support to the family of our colleague and will continue to do so for as long as required. he incident happened just after 2.15am when our employee fell overboard during maintenance activity on the platform. He was recovered from the sea by a support vessel and flown by helicopter to hospital in Shetland.

The remaining 108 people who were on the platform are safe and accounted for. Production has been shut down on the platform and an operation is underway to downman 74 non-essential personnel from the installation. TAQA took the decision to downman out of consideration for the welfare of our people following this tragic incident. The Harding

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platform is owned and operated by TAQA and is located 320 kilometres north-east of Aberdeen. Source: www.taqaglobal.com.

Ultra-deepwater Semi Listing in Brazil - Not the First Time for this Rig...

The Noble Paul Wolff, an ultra-deepwater semisubmersible drilling in the Campos Basin at about 4,200 ft. water depth, was partially evacuated after tilting overnight. The rig is owned by Noble Drilling and contracted to Petrobras.

Contacts close to this rig tell me that the semi has had multiple ballast control issues over the past few years. In fact, several times in the recent past, people on the rig have said that it leaned a little too far (human error cited in those cases).

Paul Wolff dry docked on Gavea Lifter in Brazil for modification. Image credit: HMC

The triangular shape of the Wolff's hull makes exiting via lifeboat tricky since crew are usually going directly into or away from the list. This rig is one of Noble's EVA 4000 semis. It

was originally constructed in 1981, but rebuilt in 1999 as part of Noble's EVA program. Noble currently has 5 EVA 4000 semis in its fleet: two in Brazil, two in the GOM, and one in Malta.

77 workers non-essential personnel were evacuated from the platform. No injuries have been reported and the platform has been stabilized per statements from Noble.

Noble confirmed on Friday morning that the Noble Paul Wolff experienced a ballast control incident on Friday, February 28, at about 1:00 am local time. The crew took prompt corrective action, including safely securing the well, and measures are underway to resolve the matter.

Noble says it continues to work with Petrobras and relevant authorities in connection with the incident.

The Noble Paul Wolff is a 4th gen semisubmersible drilling rig. This MODU is rated to drill in water depths of up to 9,000 ft. The UDW floater is rated to achieve a maximum total drilling depth of approximately 30,000 ft. and can accommodate about 110 crew members. Station keeping is achieved via a dynamic positioning system. Source : oilpro

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Maersk Drilling posts profit of USD 528m for the full year 2013

Maersk Drilling delivered a historically high profit for the full year 2013 of USD 528m. The result – up by 52% compared to last year - is positively impacted by a strong operational performance across the entire rig fleet, full utilisation of all rigs, higher dayrates and effective cost management for the rigs in operation, the company said in its press release. “The 2013 performance demonstrates the underlying strength of our business, which gives me the confidence that Maersk Drilling in despite of the challenges ahead in 2014 can deliver on our long term goal of delivering a profit of

USD 1bn by 2018,” says Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group and continues: “2014 is the year where we take delivery of six new rigs and at the same time have six yard stays. In industry terms, these are extraordinary challenges, which will affect our financial performance negatively compared to 2013.”

Left the jack-ups MAERSK INTERCEPTOR and MAERSK INTREPID under construction in Singapore Photo : Piet Sinke CLICK on the photo ! As a consequence of the significant growth and taking many new rigs

into operation, Maersk Drilling expects additional costs associated with training and start-up of operations, to the tune of USD 20-30m per rig, which will negatively impact the result in 2014 and 2015. Furthermore, two yard stays planned for 2013 were postponed and will not be completed until beginning of 2014. For 2014, Maersk Drilling has an extensive yard stay programme where further six rigs will have survey and upgrades. Of the eight rigs Maersk Drilling has under construction, long-term contracts have been secured for all four jack-up rigs and the first two drillships. For the remaining two drillships, Maersk Drilling are in discussions with oil companies for employment on both short and longer term contracts. Maersk Drilling’s forward contract coverage is 94% for 2014, 70% for 2015 and 53% for 2016. “Our contract coverage shows that we are in the right markets, and that our services offered resonate well with our customers. However, we are currently seeing a slowdown in the deepwater market due to oil companies postponing several drilling programmes. We expect intensified competition in 2014 for longer term jobs, however, there are still many short-term jobs, which will help absorb the supply. Despite the short term challenges, we maintain our positive long term view on the deepwater market,” says Claus V. Hemmingsen. Maersk Drilling expects a result for 2014 below the result for 2013 (USD 528m) due to an extensive yard stay programme, one-time costs associated with training and start-up of operation of six new rigs and delays in the delivery of newbuilds due to interruptions in the delivery of certain equipment and services from sub-suppliers. Maersk Drilling has an ambition of becoming a significant contributor to the A.P. Moller - Maersk Group with a profit (NOPAT) of USD 1bn by 2018, while conducting incident free operations. In addition to the three drillships and four jack-up rigs in order, the modern fleet counts 17 drilling rigs including deepwater semi-submersibles and high-end jack-up rigs. Maersk Drilling employs an international staff of 4,000 people and generated a profit of USD 528m in 2013.

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MacGregor acquires Deep Water Solutions AS

MacGregor, part of Cargotec, has acquired Norwegian privately owned Deep Water Solutions AS, specialising in lifting applications utilising electric multi drive technology, the company said in its press release. "Customer requirements for environmentally friendly solutions are increasing in offshore load handling applications, such as subsea cranes, module handling and LARS (launch and recovery) systems and having Deep Water Solutions' experts in the MacGregor family we enhance and strengthen our multi-drive (electric) technology know-how to be able better to serve and support our customers", says Tom Harald Svennevig, Vice President for MacGregor Advanced Load Handling business. "The owners and operators are looking for vessels designed for worldwide service with a 'clean design' and Green Passport. Clean Design requires minimum fuel consumption, requires no spill philosophy and makes electrical multi drive technology a preferred choice", Mr Svennevig continues. Source : PortNews

Inside Opinion: Do We Need a Cap on Box-Ship Size?

The CMA CGM JULES VERNE arriving in Marsaxlokk - Free port - Malta.

Photo : Capt. Jan-Willem Monster © I was reading the shipping news the other day and they showed some pictures of DSME yard in Korea. You may have seen it. It showed the latest of the Maersk Triple E's fitting out ready for service with not one but three sisterships in various states of build behind her. It feels like they are taking one of the 18,000 TEU behemoths every month.

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Sure enough, the same site the following day showed more pictures of yet more mega boxships being built, also on Korea but at a different yard. Other lines have been taking 12-14,000 TEU monsters but only now are we seeing other lines go as large as Maersk have.

Maersk themselves have said that they may not use the full 18kTEU capacity on their Triple E's for some time yet. They were very upfront about the fact that they are probably too large and complex for today's box markets.

Frankly if it was anyone else you would question the planning and strategy of such huge vessels, though with an eye on the next few years you can probably understand it. Other lines have to go as large or larger to stay competitive. It is an arms race.

The issue is that as more and more mega boxship capacity is added at the top end, so smaller mega boxship capacity is pushed onto secondary routes. With the excess capacity, rates are sunk and nobody wins.

We are building epic mega boxships because we can, agog at the scale of the technical achievement. Don't get me wrong. I was as blown away as anyone at the Triple E's and E Classes etc before them. I remember seeing the Jervis Bay, of P&O and then PONL and then Maersk service when I was younger just starting out in this industry and being astonished at the size of her. She went for scrap this month.

We create these leviathans forgetting the effect on everything else. It is great when you have the tallest and the biggest and as such the efficiency advantage, but when you do not you are just part of the capacity struggle.

And how long does the crown last for? MSC, CMA-CGM, Maersk, UASC and Hapag-Lloyd amongst others have been passing the crown of operator of the world's largest boxship between them for years, and I bet none have held it longer than a few months at a time. The biggest boxships grow in pace with technology, time moves fast but technology moves faster still.

So where does it stop?

It seems evident to me that in a few years we'll see 14,000 TEU vessels less than five or six years old laid up because they cannot touch the unit cost of the 22 or 24,000 TEU giants. They are too big to put on secondary or third tier routes so what do you do with them? Or the 9,000 TEU post-Panamaxes that are too large for what basically amounts to fourth tier feeder routes?

The simple basic theory is this. Box ship size is growing faster than the markets, and at some stage the tonnage timebomb will go off. You have vessels sitting around that have absolutely no demand, but still have half their 10 year ship mortgage left to pay.

You could sell them to someone who can use them but the money they will fetch on the S&P markets wont cover what you still owe on them. Simplistic but that's the truth. The 14,000 TEU beasts the likes of Yang Ming and Evergreen waited so long to order will be basically obsolete on the main trunk routes they were ordered for by the time they are delivered in all likelihood I think.

The MADISON MAERSK arriving in Rotterdam-Europoort – Photo : Jan Oosterboer ©

Maersk's Triple-E class has 18,000 TEU of capacity. Can you imagine seeing six Triple E's tied up together in a Scottish Loch in cold layup because they are too small to compete on the trunk routes from US-Asia and Asia-EU, and because they are twin screw and more expensive to run with far higher unit cost than the 26,000 TEU half mile long latest thing? Seeing today's latest 12,000 TEU boxboats going for a one way trip to Alang?



Might sound like Buck Rogers stuff in the far distant future but I assure you that that day is coming and faster than anyone will be able to believe. By then we'll have untold millions and millions of TEU capacity with no routes to run on a lot of it in negative equity. You think the dry bulk rates crash was bad, just wait a couple of years until the latest round of mega vessels hit the market and we get the next SARS or regional economic problem. The smart box operators may well be quietly trying to pay their mortgages down to avoid taking the big hit when they need to make the tough decision.

How you find a way of doing that whilst not making it anti-competitive I do not know. How you find a way of avoiding lawsuits from the mega boxship construction yards I do not know either, although I suspect the answer may lie in part in eco-powerplant upgrade retrofitting work, paltry though that sounds.

I also think box majors need to look at a way of setting up a fund to underwrite vessel scrapping. I would further suggest some bright individual should copyright a modular solution for oil / gas storage tanks, hospital, school, prison, power station or hotel accommodation blocks to fit into existing box ship designs to find some kind of after-market for these big ladies available for an absolute pittance very soon. But action needs to be taken now, or the box majors and as a result the bunker community as a whole will be staring down the barrel of some really big losses. Source : Ship and Bunker

Horn of Africa piracy declining: IGAD security director

Piracy off the Horn of Africa coast has declined since 2012, thanks to a strategy adopted by the security arm of the Intergovernmental Authority on Development (IGAD), an East African trade bloc, along with contributions from international naval forces. Piracy off the Horn of Africa coast has declined since 2012, thanks to a strategy adopted by the security arm of the Intergovernmental Authority on Development (IGAD), an East African trade bloc, along with contributions from international naval forces.

Piracy off the Horn of Africa coast has declined since 2012, thanks to a strategy adopted by the security arm of the Intergovernmental Authority on Development (IGAD), an East African trade bloc, along with contributions from international naval forces. "Our strategy approached the problem from early activities inland, where pirates prepare their activities and where piracy money circulates," Commander Abebe Muluneh, head of the IGAD Security Sector Program (ISSP), told Anadolu Agency in an exclusive interview. According to International Maritime Bureau figures, only 15 piracy incidents were registered off the Somali coast last year, down from 75 in 2012 and 237 the year before that. Muluneh attributed the decrease to frequent patrols of the area by the European Union Naval Force. He stresses that his outfit contributes to fighting piracy inland. "Our bureau has made key contributions through a strategy devised in 2010 to approach the problem from a different perspective, that is to try and dry up the root causes of piracy," Muluneh said. "Piracy off the Somalia coast was first started by fishermen who resented their country`s fish resources being exploited illegally by foreigners," he said. He was referring to Somalia`s first-ever reported piracy incident in 2006, when a group of Somali fishermen hijacked a UN Development Program vessel and held it for ransom.

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Since then, the phenomenon has proliferated, not only in terms of the number of ships intercepted, but also in the amounts paid in ransoms to Somali pirates. Militant groups in war-torn Somalia, such as Al-Shabaab, have also made use of piracy for their own ends. "Piracy and terror ambushes were some of the things Al-Shabaab engaged in when it lost in conventional ways of fighting," Muluneh said, pointing to Nairobi`s deadly West Gate Mall attack last September. "As Al-Shabaab shifted its strategy and tactics, it was necessary for us to counter this through a different strategy," he asserted. According to Muluneh, the ISSP`s anti-piracy tactics include public mobilization, vocational training, institutional capacity building, and creating alternative means of livelihood for unprivileged individuals who might otherwise be picked up by Al-Shabaab or organized criminal groups. "The work isn`t finished; we will carry on with it. It will take some time and patience before the root causes [of piracy] can be addressed," he said. Muluneh cited a host of challenges that the ISSP hopes to tackle this year. "One of the challenges will be tracing the terrorist operatives that have infiltrated Somalia`s army and security forces," he said. Another regional security challenge, he added, is the "interlocked nature of conflicts that spill over far and wide." Ethnic lines cut across the region`s national boundaries, he noted, and conflict situations in one area can easily spread into other countries. "Conflict situations in one country in the region often affect neighboring nations," he said. Source : Turkishpress

Vicar’s blessing for restored lifeboat

SOUTH Tyneside’s newly-renovated Tyne lifeboat was blessed after being restored to its long-standing location at Pier Parade in South Shields. The Reverend Philip Bullock, priest-in-charge of the Church of St Stephen, conducted the ceremony, which was attended by local dignitaries and representatives from the North East’s maritime and lifesaving community.

The lifeboat is the second oldest in existence and has taken back pride of place under the original canopy. The boat returned after a renovation programme that was made possible by a team of 30 volunteers from the North East Maritime Trust in Wapping Street, South Shields. Source : Shields Gazette

Cowes Breakwater Work To Start At Easter

Construction of the £7 million Cowes breakwater is set to start at easter.

Cowes Harbour Commission (CHC) has Friday appointed Boskalis Westminster to undertake construction of the new detached breakwater. CHC said the new breakwater would transform Cowes into a 'true sheltered harbour' and create a variety of exciting development and business opportunities for East Cowes, Cowes and other Island stakeholders.

The construction will be carried out in two phases, with the first phase, creating the core structure of the breakwater, commencing in the spring. This initial construction phase will continue through the summer and will then be followed by a consolidation period, to allow for settlement of the breakwater structure during the autumn through to spring 2015. Boskalis Westminster will then return to Cowes to re-dress the core structure and complete the construction of the breakwater during the summer of 2015. Capt. Stuart McIntosh, Cowes Harbour Master, said: The signing of the breakwater construction contract is a significant milestone and we are really looking forward to working alongside



specialist contractor Boskalis Westminster to finally deliver the Cowes breakwater. CHC said the breakwater was the first and most important component of the new harbour protection and infrastructure, to be delivered as part of this partnership project.

CHC will continue to work with the HCA to deliver the harbour authority's priority of completing the sea defences by the delivery of the second phase - the extension to the Shrape breakwater, plus the dredging of the new Eastern Channel, which will be brought forward as part of the HCA's proposed new marina at East Cowes.

Capt McIntosh said: The Cowes breakwater project is CHC's main priority, because not only does it offer great opportunities for harbour users but it will enable economic development to follow, to the benefit of the local community. "We have already seen this with the HCA tendering for a partner to develop and operate a new marina and associated waterfront regeneration in East Cowes.

"The launch of the Isle of Wight Expansion Fund is good timing for the Island too, as this grant fund should also act as a catalyst to help businesses further leverage the benefits of the protected harbour that the new Cowes breakwater creates.

The Homes and Communities Agency is investing £3.16 million towards the installation of the Cowes breakwater.

Paul Flatt, senior development manager at the HCA, said: The work to install a new breakwater at Cowes is an important part of wider plans to bring new investment and jobs to Cowes and provide a significant boost to the local economy. "The benefits of this work, through supporting the Island's marine and tourism economy and attracting extra visitors and trade for local businesses, are clear to us.

"This will happen in addition to plans we are progressing to develop a new 400-berth marina, which will secure Cowes' reputation as an international destination. "This is an exciting time for Cowes, and it's good news that work will start on this important project in the coming months.

Paul Datson, head of capital and coastal projects at Boskalis Westminster, said: "Boskalis Westminster is very pleased to have been awarded the prestigious contract to design and construct the detached breakwater at Cowes. "Our group has extensive experience around the world in the design and construction of breakwaters and other rock structures, and we are keen to start work on this project that will have such a positive benefit for Cowes. "With our two major projects in Southampton and our local UK Head Office, we have significant resources in the area and look forward to working with Cowes Harbour Commissioners and Atkins in order to deliver a successful project. Source : Isle of Wight Radio

The CHARON J arriving on the River Tees. Photo : Derrick Johnson ©

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Coast Guard rescues man from Carnival cruise ship

A 66-year-old man was rescued from a cruise ship by the Coast Guard after he began suffering medical issues.

The man was on board the Carnival Cruise ship Paradise, located about 180 miles southwest of Marco Island. The ship's captain called in the Coast Guard because the passenger got sick and needed to go to the hospital. A helicopter crew from the Coast Guard Air Station Clearwater flew out to the cruise ship and hoisted him onto the aircraft. The man was taken to Tampa General Hospital for further care Source : BayNews9

Emerging Oil Venues Attracting Pirates The recent hijacking of a ship off the coast of emerging oil darling Angola, and the apparent heist of $8 million in fuel, helps us trace how piracy on the high seas has shifted geographically and how it changes and adapts to new security efforts.

Civil war-torn and anarchic Somalia used to steal all the piracy headlines—not so anymore. Pirates were pushed off the Somali coast, and along with some other ingenious adaptations to their modus operandi, they moved with the geographical—and increasingly geological—times. Where the oilmen go, the pirates will follow.

A regional and Western security response has forced pirates to rethink their strategy, and they have repeatedly demonstrated that they are capable of moving with the times, so to speak. They’re no longer trading in people; they’re trading in oil, and their networks are highly complex. Nigeria’s efforts to thwart piracy have resulted in a shift of attacks further east into the Gulf of Guinea, off the coast of Ghana and Cote d’Ivoire, for instance. Before that, increased security off the Somali coast shifted things to West African coastal venues. The Indian Ocean remains a pirates’ playground and their capabilities have metamorphosed along with improvements in security.

This brings us full circle to the incident in Angola, which has the industry—and Angolan officials who are keen to portray their coast as safe from piracy—nervous.

The metamorphosis has been fast and impressive. The first big response to the increased efforts to stymie piracy off the Somali coast was the introduction of “mother ships”—larger vessels that serve as a floating headquarters of sorts to give the pirates a greater geographical reach and mobility. The mother ship meant that the sneaky little skiffs go launch from further out in the Indian Ocean without needing to return to the shore to refuel or regroup during a hijacking operation. The Mother Ship would maintain a safe distance from the target vessel, and the skiffs returned when needed. The further navies push them from the coast, the more adept the pirates become at launching attacks from further into the Indian Ocean.

But pirate agendas have changed, too. Now they’re after oil and have no interest in the vessel or the crew, who are held hostage only long enough to siphon cargo from the ship. The ideal is no one gets killed, which keeps reprisals down.

The number of hijackings has actual decreased over the past several years, but the threat piracy poses is still the same, if not greater.

Writing for Maritime-executive.com, James Bridger of Delex Systems, Inc. notes: “Heightened security in the Nigerian littoral appears to have had a Darwinian effect on maritime criminals, as more sophisticated and politically connected syndicates have thrived at the relative expense of opportunistic ‘smash and grab’ pirates.”

Even more interesting is where that oil goes, because this requires a massively organized transnational criminal network that necessarily extends to officialdom in some regions. The stolen cargo has to be stored somewhere before



it is disbursed on the black market, or repackaged and camouflaged by legitimate petroleum products. What of Angola? Well, even the latest hijacking isn’t likely to damper the optimism over this emerging oil giant, but the same oil wealth is attracting the pirates. The authorities in Angola were keen—for obvious reasons—to accuse the vessel’s crew of staging the whole thing, in a bit of wishful thinking, though the vessel’s owner is convinced of a hijacking. The investigation plods along, but genuine hijacking or not, this is a scenario Angola is going to have to get used to. Source : James Stafford of Oilprice.com

SAL’s FRAUKE outbound at Le Havre loaded with the new lifeboats for the COSTA DIADEMA enroute Marghera in Italy Photo’s : Fabien Montreuil ©

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New orders threaten fragile shipping sector recovery: survey

Overcapacity threatens to derail a fragile recovery in the global shipping sector as ship owners and investors place orders for new vessels betting on better times, a survey showed on Thursday. Ship owners ordered large numbers of vessels between 2007 and 2009, just as the global economy sank into its biggest crisis since the 1930s. In recent months, prospects have brightened as the sector absorbs the tonnage as well more positive signs for world trade. Investors including private equity players are eyeing prospects with a wave of new ship ordering taking place.

A survey of the transport sector by international law firm Norton Rose Fulbright found 40 percent of those polled cited overcapacity as the biggest threat to recovery in the industry. "There is a real disconnect between those in the shipping sector who believe that the purchase of additional assets is the most beneficial investment for their business and those worried about overcapacity," said Harry Theochari, global head of transport at Norton Rose Fulbright. "While optimism is growing in the shipping sector, a further imbalance in supply and demand risks throwing the current fragile recovery off course."

It normally takes three years on average for vessels to be delivered from yards. Data from online ship valuation and maritime intelligence provider VesselsValue.com showed the biggest number of ships were placed on order in various sectors last year since the slump.

In the oil products tanker sector, 233 medium-range (MR) tankers were ordered in 2013 - the biggest spike in orders since 2009. VesselsValue.com data showed 35 MRs were already ordered so far in 2014. The MR live fleet numbers 1,752 vessels at present. In the dry bulk sector, there were 176 orders in 2013 for capesizes - among the biggest vessels in that segment - the biggest ordering spree since 2009. VesselsValue.com data showed in 2014, 56 capesizes were already on order. The capesize live fleet numbers 1,467 vessels at present. The annual survey by Norton Rose Fulbright, now in its fifth year, is one of the transport sector's leading barometers of market conditions, especially for the shipping community.

Shipping was the least optimistic transport sector in the survey, with 69 percent of respondents reporting positivity about market conditions compared with 81 percent in rail and 75 percent in aviation. The availability of funding was also a concern for shipping respondents. The survey found anxiety in all transport sectors over a lack of suitably qualified people. Skilled personnel in the Middle East region was cited as the biggest challenge for transport businesses. "The risk of a skills shortage developing in the transport sector has also been highlighted. Ensuring a skilled workforce is in place will be fundamental to the future growth of the transport sector," Theochari said. The survey canvassed views from over 850 participants from a range of companies involved in transport including financiers, ship owners and operators, manufacturers, government bodies and professional services firms. Of those polled, 380 were from the aviation sector, 215 from rail and over 260 from shipping. Source: Reuters (Editing by David Evans)

Maersk sees flat year ahead Danish shipping and oil group A.P. Moller-Maersk predicted no profit growth in 2014 due to the cost of new drilling rigs and lower oil production while container shipping rates remain under pressure. The owner of the world's largest

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container shipping line is trying to reduce its dependence on volatile container shipping and is investing in oil rigs, ports and oil production where planned maintenance projects will hit output. Profit from oil and drilling in 2014 is expected to fall below the 2013 level while the outlook was flat for Maersk Line, seen as a bellwether for the global economy as its vessels make up around 15 percent of the world's container shipping capacity that carries 90 percent of world trade.

Maersk Line, accounting for about 50 percent of group revenue, more than tripled underlying profit to $1.5 billion in 2013, offsetting lower earnings from the other divisions. "We expect container freight rates will surge up and down. There is over-capacity in the market and it will be until at least 2016," Chief Executive Nils Smedegaard Andersen said on a teleconference.

Andersen said Maersk Line still aims to be more profitable than competitors, which include Swiss-based and privately-owned MSC, French-based CMA CGM and China's COSCO Container Lines . It wants to keep its operating margin five percent higher than rivals. "We have reached that in the last six quarters which means we make money while earnings in the rest of the industry are around zero," Andersen said. Underlying group net profit for 2013 fell 6.5 percent to $3.78 billion, beating the market's average forecast of $3.44 billion in a Reuters poll of analysts. The outlook for profit in 2014 to be in line with 2013 was described as "disappointing" by Nordea analysts.

Shares in A.P. Moller-Maersk, up 40 percent in the last 12 months, were 3.3 percent lower at 1105 GMT, while the Danish benchmark index was down 1.4 percent. The better than expected 2013 result at Maersk Line was achieved by lowering unit costs. Average freight rates decreased by 7.2 percent to $2,674 per forty foot container (FFE) and volumes increased by 4.1 percent to 8.8 million FFE. Fuel consumption was reduced by 12.1 percent, the group said. Maersk has ordered 20 super-size vessels from South Korea's Daewoo Shipbuilding & Marine Engineering. Four of them were put into service on the busy route between Asia and Europe last year, helping to lower costs per unit. Following calls from investors, the group proposed issuing four bonus shares for each existing share held, in a move that will lower the per share price of the stock in the hope of expanding its shareholder base. With a share price around 64,000 Danish crowns ($11,700) the Maersk share is currently among the world's most expensive. A dividend payout of 1,400 Danish crowns ($260) per share was recommended, up from 1,200 crowns last year. Source: Reuters (By Ole Mikkelsen)

Small Containerships - Getting Slim Fast The orderbook for small containerships has been notably thin for the last few years. Yet cascading activity driven by a surplus of larger units has prolonged overcapacity, driven vessels into lay-up and supressed charter market earnings. But with intra-regional volumes still forging ahead is there a potential capacity gap looming in the sub-3,000 TEU sector?

How Thin Is Thin?

The orderbook as a share of existing fleet capacity is under 10% for every sub-sector below 3,000 TEU, as shown by the Graph of the Month. In comparison, the orderbook for Post-Panamax containerships is equivalent to 38% of the Post-Panamax fleet. Indeed, in the very large sizes, the 1.7m TEU of 12,000+ TEU tonnage on order is equivalent to 81% of the existing 12,000+ TEU fleet.

Left : The EEMDIJK moored in Malta Photo : Michael Cassar ©

Contracting in the small size sectors remained subdued in 2013. Just two ships of 100-999 TEU were ordered, while in the 1-2,999 TEU sector 62 contracts were placed for a combined 0.11m TEU. This



included 38 orders for vessels of 1-1,999 TEU, and contracts for 24 ships of 2-2,999 TEU. Overall, below 3,000 TEU, substantially more capacity was demolished than was ordered.

Last year, 32 ships below 1,000 TEU were scrapped, with a combined capacity of 17,542 TEU. Mean-while, in the 1-1,999 TEU size range, 63 boxships totalling 0.9m TEU were sold for demolition, while 20 ships in the 2-2,999 TEU size range were sent to the beaches. Overall, 0.16m TEU sub-3,000 TEU capacity was scrapped last year, while just 71,348 TEU was delivered. However, the shrinking fleet in the smaller sizes is not a new phenomenon. The capacity of the sub-3,000 TEU fleet peaked in December 2008 at 4.4m TEU, and has since fallen by 5.6%. The contraction is even more stark in some sub-sectors: at the start of February 2014 the 2-2,499 TEU fleet was 15% smaller than at its peak, while the sub-1,000 TEU fleet was 8% smaller. The graph shows the percentage contraction since the peak fleet capacity in each sub-sector. Older and Thinner?

The average age of the sub-3,000 TEU fleet is 13.1 years, while the average age of the Post-Panamax fleet is a relatively youthful 6.3 years. 15% of sub-3,000 TEU ships are over 20 years old, while 8% are over 25 years old. There is clearly scope for further scrapping in the short-term. Indeed, 68 sub-3,000 TEU ships younger than 25 were scrapped last year, of which 38 were less than 20.

There are signals that cascading is slowing in the smaller sizes. Upsizing on intra-Asian trades in particular decelerated in 2H 2013. As intra-regional trade continues to grow, and the sub-3,000 TEU fleet continues to shrink on the back of limited additions and continued scrapping, prospects of tighter fundamental conditions may eventually start to provide more than slim rations for smaller containerships. Source: Clarksons

The HANJIN CHITTAGONG moored in Vitoria ( Brazil) – Photo : Willem Kappert ©

DNV GL opens new Asia Pacific headquarters in Singapore

DNV GL, the world’s leading ship classification society and one of the world’s leading risk and sustainability service providers with more than 500 employees in Singapore, consolidates its operations in its new headquarters to meet the growing demand for its services in the region.

The new headquarters was officially opened by Mr S Iswaran, Minister for the Prime Minister’s Office, Second Minister for Home Affairs and Second Minister for Trade & Industry Singapore, and DNV GL President and CEO Dr Henrik O. Madsen. The new, state-of-the-art office will house DNV GL operations for Singapore and the surrounding Asia Pacific region. This means that DNV GL’s expertise and regional management team will be under one roof. The relocation to a new technologically advanced building will create greater synergies across its four key business areas – Maritime, Oil & Gas, Energy and Business Assurance.

"Singapore is one of the main Asia Pacific locations for the head offices of large international companies and many of our customers are also located here. Besides, Singapore’s vision is very much aligned with DNV GL’s, especially when



it comes to research and development work to address the challenges faced in both the offshore oil & gas exploration and clean energy industries,” said Dr Madsen

“Designed to accommodate our growth over the next 20 years, the relocation of the Singapore office also comes at the perfect time. The merger of DNV and GL last September has created a need to integrate the operations of both companies and the new office enables us to do that seamlessly in Singapore,” he added.

Collaborative agreements Recognising the importance of collaboration, DNV GL will also be signing memoranda of understanding (MOU) with the National University of Singapore and the Nanyang Technological University for joint R&D activities. “We are delighted to work with such well-established research institutions. We firmly believe that our collaborative innovation model will contribute to Singapore’s fast moving industries,” said Dr Madsen. “Also, as an independent foundation with a strong technology base and risk management as our core area of expertise, we will continue to fill a unique role in creating trust and confidence among industry stakeholders.”

Located at 16 Science Park Drive, DNV GL's new office brings together 500 employees from the company’s previous four offices around the island.

The new office in Singapore combines intelligent building structures and efficient energy consumption. Some of the green initiatives by DNV GL include:

• Central air conditioning set at 25oC for energy efficiency • The implementation of motion-based sensors for energy efficient lighting control. • Waste management: individual waste paper bins have been replaced by central general and recycling waste

collection areas • Reduction in paper use: badge and password-access printing to limit waste

Source: DNV GL

Investigation launched after loaded container ship grounds near Steveston The Transportation Safety Board says it has decided to launch an official investigation into the Feb. 2 grounding of a

container ship in the Steveston area. Even though the 222-metre Cap Blanche was aground for about 30 minutes, there are “sufficient issues” for an investigation, Transportation Safety Board (TSB) spokesman Paulo Ekkebus said Thursday. The ship was loaded with containers at the time.

There was no damage or injuries, but the TSB does undertake investigations where there’s a belief that the marine community can learn something from the incident, he noted. He said normally it takes about 14 to 16 months for a report to be ready to be released to the public.

Because the incident is now under investigation, Ekkebus said he could not comment further. The Cap Blanche was

bound for Surrey Fraser Docks from Tacoma, Wash. when it ran aground at Steveston Bend, at the mouth of the south arm of the Fraser River, according to the TSB. The Steveston-Fraser River area has seen 36 groundings in the past decade, according to statistics from the TSB.

Most of those have been fishing vessels, and to a lesser degree tug boats and pleasure craft. The most recent large ship to run ground in the area was the bulk carrier Star Hardanger on Oct. 13, 2004. Interest in shipping safety in the Salish Sea — which includes the Strait of Juan de Fuca, Puget Sound and Georgia Strait — has heightened with the advent of several projects that will increase traffic. While attention has focused on Kinder Morgan’s $5.4-billion Trans Mountain oil pipeline expansion, Deltaport is also planning a $2-billion container terminal expansion. Including other



smaller projects such Surrey Fraser Docks’ $15-million coal-handling facility, ship and barge traffic could increase as much as 850 a year if the projects go ahead. Source : Vancouver Sun

107 Somali migrants in tugboat that nearly capsized rescued off Libyan coast; 7 killed An official in Libya says the country's coast guard has rescued 107 Somalis on a tugboat that nearly capsized while trying to reach Europe. Col. Ayoub Qassim said Friday that the migrants included men, women and children. Qassim said the coast guard found them Thursday a few miles off the coast near the capital, Tripoli.

Qassim told journalists that after being rescued, the migrants confessed to throwing seven people into the sea to stop the ship from capsizing. Libya remains chaotic more than two years after the overthrow of dictator Moammar Gadhafi. That's allowed it to become a prime springboard for migrants trying to reach Europe. Scores die every year while making the dangerous journey in search of a better life. Source : FoxNews

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ITIC says hold-harmless clauses may not be so harmless

ITIC has warned that the so-called ‘hold harmless’ clauses in many of the contracts entered into by its members may contain pitfalls which could prejudice their rights. A mutual hold-harmless indemnity clause should provide that each party to the contract agrees to take responsibility for - and to indemnify the other against - injury and loss to its own personnel and property and its own consequential losses, even if the accident and related losses are caused by negligence. But ITIC notes that, in many of the contracts it reviews, the party with the greater bargaining power will naturally seek to swing the balance back in its favour.

Writing in the latest issue of The Wire, the ITIC newsletter for the offshore and hydrographic sector, Robert Hodge, Senior Underwriter for the Offshore Sector, says, “It is staggering how often we see contracts stipulating that ‘the consultant shall indemnify the company against any and all losses’, yet there is no reciprocal benefit to the consultant. The clause must have a mutual provision.”

Meanwhile, the mutual hold-harmless clauses seen by ITIC often leave the distribution of third-party liabilities unclear. Hodge says, “A hydrographic consultant on a survey vessel, for example, should be protected from third-party claims arising from the operation of the vessel. The consultant should not be responsible for potentially multi-million-dollar pollution liabilities or collision damages to third-party property. These should fall on the party which has insurance for these liabilities.” ITIC notes that, in some cases, it sees hold-harmless clauses amended to state that if one of the parties is found to be grossly negligent it will not be held harmless. Robert Hodge emphasises, “There is no true concept of gross negligence under English law. The line between negligence and gross negligence can become blurred, and cases will turn on facts and expert evidence. The inclusion of gross negligence within a hold-harmless clause in a contract pursuant to English law can lead to uncertainty and increased litigation costs.”

ITIC also warns that the distinction between indirect and direct loss can be complicated. Robert Hodge says, “A common misconception is that all ‘loss of profits’ is indirect loss. This is wrong. Loss of profits can be either direct or indirect, depending on the facts of the case. If, for example, a consultant was providing design work for sub-sea equipment and carried out the design negligently, this could cause not only damage to property but also lost drilling time, leading to lost revenue and profit. In such a case, a tribunal could find that the loss of profit arose naturally from the breach and was therefore a direct loss not excluded under the hold-harmless clause. “Taking into account the

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current day rates of drill rigs, this could form a substantial part of any claim. The clause should be amended to state that loss of profits is excluded, whether direct or indirect.” ITIC concludes that hold-harmless clauses should be carefully reviewed to ensure that they are actually mutual.

CASUALTY REPORTING

Fishing Vessel Sinks At The Tema Port A fishing vessel, importing frozen fish into the country has sunk at the Tema Port.

The vessel, Madamfo, sank Wednesday, February 26, as port staff were offloading the fishing materials from it.

Though the crew on board escaped unhurt, all the content has been destroyed. A worker at the port, Thomas Cudjoe of Kayap Maritime, who spoke to Joy News from the port said the ship was discharging fish and at the same time loading salt.

Explaining why the vessel sank, Cudjoe noted, "I think the weight was on one side and they could not balance it".

Confirming the incident, the Public Relations Manager at the Ghana Ports and Harbours Authority (GPHA), Joana Adda further noted that there were no casualties as a rescue team was on hand to assist in ensuring safety of people onboard the vessel Source : peacefmoline

Ferry runs aground near Ocracoke A state ferry ran aground Friday morning soon after it departed Ocracoke Island.

The N.C. Ferry Division’s sound class vessel Carteret hit a shoal about five minutes after disembarking at 7:30 a.m. from Ocracoke for Cedar Island. Eight passengers and eight vehicles, including a truck with a boat trailer, were aboard at the time. Ferry Division officials dispatched a tug from the Hatteras ferry docks to nudge the ferry

back into the channel. That tug was still about an hour or more away at the time of this report.

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Ferry Division Director Harold Thomas said the wind blew the ferry onto a shoal. The ferry captain took the prudent approach to avoid any damage to the ferry, he said. “We’re not trying anything risky because we want to avoid the rocks and an aid to navigation that are both about 50 or 60 feet off the bow,” Mr. Thomas said. The aid to navigation is just off the port side of the bow, a rock jetty is about the same distance off the starboard side. “The captain wants to use good judgment as far as protecting a state asset,” Mr. Thomas said. “He’s scared if he tries get off shoal he’ll drift into the rocks. The tug is his insurance policy.” The crew of the Carteret is making frequent rounds to check on passengers. “Everybody’s just as calm as they can be – no problems and no medical issues,” Mr. Thomas said. The division had earlier in the day suspended runs on its Hatteras-Ocracoke route due to high winds and the Cherry Branch-Minnesott was on a limited schedule with only a single ferryboat capable of handling the conditions. The 10:30 a.m. Friday Cedar Island-Ocracoke run was canceled. The next scheduled run is at 4:30 p.m., pending weather conditions at that time. The next scheduled runs on the Swan Quarter-Ocracoke route are 1:30 and 4:30 p.m. Friday, also pending conditions. Source : CarolinaCoastOnline

NAVY NEWS

Royal Dutch Navy’s ship HNMLS De Zeven Provincien departing from the Keppel- Verolme yard in Rotterdam after a five-day maintenance period - Photo : Hans Overbeek ©

Submarine fire: Navy personnel taken ashore

Four Navy submariners have been taken ashore after a fire broke out on one of Australia's Collins Class submarines. Defence announced in a statement that the crew of HMAS Waller were forced to take "emergency response actions ... to extinguish the fire," which broke out while the submarine was surfaced off the West Australian coast. "There were no causalities. As a precaution, four members of the ship’s crew who were involved in the response to the fire have been landed for observation," the statement said.

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Significantly, the statement said the HMAS Waller had "recently completed a scheduled maintenance period". The statement gave no explanation for the fire. The Collins Class has been beset by maintenance problems, though experts say that after many years of work and upgrades, the submarines are now performing well. Defence is working to extend the life of the Collins Class while it waits for the successor fleet of submarines, which won't arrive until at least 2030. Source : Sydney Morning Herald

Another photo received of the Royal Dutch Navy’s ship HNMLS De Zeven Provincien departing from the Keppel- Verolme yard in Rotterdam after a five-day maintenance period - Photo : Jan Oosterboer © see also the movie make by Kees Torn at : http://youtu.be/ATqeOVH4jc0

India submarine: Navy confirms missing sailors dead

Two sailors who went missing after an accident on board a submarine off the coast of Mumbai on Wednesday are dead, India’s navy confirms. The INS Sindhuratna was being tested at sea when smoke triggered the automatic closure of hatches, BBC reports. Seven sailors injured in the incident are recovering in hospital. The vessel returned to port on Thursday morning. Last year 18 sailors died in one of the navy’s worst disasters when a submarine sank after a fire at a Mumbai dockyard.

Initial investigations showed arms on board the Russian-built INS Sindhurakshak may have played a role in its sinking. On Wednesday night Indian navy chief Admiral DK Joshi resigned, accepting “moral responsibility” for this latest incident as well as other operational accidents involving navy ships in recent months. Lt Commander Kapish Muwal and Lt Manoranjan Kumar died in the INS Sindhuratna incident, the navy confirmed on Thursday. “The two officers who were earlier declared missing have been located in the compartment of the submarine and after examination by medical officers of the navy hospital, both the officers were declared dead,” a defence spokesman in Mumbai, Narendra Vispute, told the BBC. The vessel was towed back to port on Thursday morning and rescuers boarded the submarine searching for the trapped sailors, a navy spokesman said.

Investigators were assessing the damage to the vessel and trying to find the cause of the smoke, he added. The navy has appointed a team headed by a senior official to investigate the INS Sindhuratna and earlier submarine accidents. Wednesday’s accident is thought to be the 10th involving a navy warship and the third submarine accident in the last seven months since the Mumbai dockyard disaster in August.

Last month another submarine, the INS Sindhughosh, reportedly carrying ammunition and a full crew, ran aground while returning to the harbour in Mumbai. There was no loss of life or damage to the submarine. In February 2010, one sailor was killed when a fire broke out in the battery compartment of INS Sindhurakshak. Source : The Punch

http://youtu.be/ATqeOVH4jc0�



Canadian Warship Suffers Main Engine Room Fire Off Hawaii

20 crew members have sustained injuries on board the Canadian warship HMCS Protecteur after a fire broke out at while returning home to Esquimalt, British Columbia. The ship is currently adrift 340 nautical miles northeast of the Hawaiian island of Oahu. The Royal Canadian Navy (RCN) reports the fire broke out in the ship’s engine room and was eventually extinguished by the ship’s crew. “Personnel sustained minor injuries, but are safe and they are being treated on board,” notes the Navy in a posted statement.

Commodore Bob Auchterlonie, Commander of Canadian Pacific Fleet notes the vessel had spent the past 7 weeks operating in the Pacific and was carrying 279 crew plus 17 of the crew’s family members and two contractors. During a press conference this afternoon he gave high praise to the ship’s crew for handling the situation and putting out the fire. He notes that the injuries sustained were limited to “dehydration, exhaustion, and smoke inhalation.” The RCN notes the ship and her crew are currently being assisted by the U.S. Navy destroyer USS Michael Murphy which is on scene at this time. A full assessment of the situation is being conducted to establish the extent of the damages and the impact on propulsion. For both the Royal Canadian Navy (RCN) and the U.S. Navy, having family members aboard the ship during a transit home is a common tradition, one highly valued by both sailors and their families. Source : gCaptain

SHIPYARD NEWS

The ex NOR SUN in drydock at ST Marine in Singapore getting her name removed the AHTS will be renamed in

LOGINDO STURDY - Photo : Piet Sinke ©

NorYards gets new CEO Johannes D. Neteland has been appointed CEO for NorYards AS with effect from March 1st 2014. He will replace Asle Solheim who has been acting CEO since the company was established last fall, the company said in its press release.

Neteland will take up the position as CEO for NorYards as an engagement running from March 1st 2014 and six months going forward. A permanent appointment will be considered within the next half year.

Johannes D. Neteland has a unique international experience from leading positions within the maritime- and offshore related industry. His extensive knowledge and comprehensive network represents a strong contribution to Nor Yard’s management. For the past 16 years, Johannes D. Neteland has been CEO for the stock listed company TTS Group ASA headquartered in Bergen, Norway.




In an extraordinary General Meeting this week, Mykola Kuzmenko was elected as new chairman of the Board of Directors in the company, replacing Mr. Sutharshan Tharmaratnam. Mr. Kuzmenko, representing Calexco S.a.r.l. as the future majority owner of NorYards AS, is also the Chairman of the Supervisory Board of JSC Shipyard Zaliv in Ukraine. In addition, Asle Solheim was also elected as a board member in NorYards AS. Solheim is CEO in Bergen Group ASA.

Bergen Group expects the sale of the Group's shipbuilding division to NorYards to be completed by end of Q1 2014. When closing is taking place, Calexco will acquire the majority ownership in NorYards AS consisting of NorYards BMV and NorYards Fosen. These two Norwegian shipyards will together with NorYards Design & Engineering and NorYards Zaliv (Zaliv Shipyard, Ukraine) as a strategic partner, form the NorYards Group.

NorYards has with this established a strong position throughout the value chain within modern shipbuilding; from basic design and all the way through final completion of the vessels. The foundation for future growth in the international market for the construction of advanced offshore vessels and specialized vessels is expected to be strong. Source : PortNews

Transocean Ltd. Announces Construction Contracts For Two

Newbuild Ultra-Deepwater Drillships Transocean Ltd. announced that a subsidiary has awarded contracts to Sembcorp Marine's subsidiary, Jurong Shipyard, in Singapore for construction of two newbuild dynamically positioned ultra-deepwater drillships. The two drillships are expected to be delivered from the shipyard in the second quarter of 2017 and the first quarter of 2018, respectively. The combined capital cost for the two drillships is estimated at approximately $1.24 billion including the shipyard contracts; project management; owner-furnished equipment; inventory and capital spares; but excluding capitalized interest. The payment terms for both rigs are very favorable to Transocean. Additionally, Transocean has entered into an option agreement to order up to three additional drillships of the same design and specifications on similar terms. The first option must be exercised within one year, the second within 18 months, and the final within 24 months..

"These newbuild drillship orders highlight continued execution of our long-term asset strategy," said Steven L. Newman, President and Chief Executive Officer of Transocean Ltd. "We are committed to reinvesting in our fleet through the addition of differentiated, high-specification and high-return assets that will appeal to a wide spectrum of our customers. We are very pleased to partner with Sembcorp Marine's Jurong Shipyard in this effort." The drillships will be built based on Jurong Shipyard's proprietary Jurong Espadon III design and will possess advanced capabilities for highly efficient ultra-deepwater development drilling operations worldwide. Specially designed for enhanced drilling operations with state-of-the-art drilling facilities, a large moon pool to accommodate a larger riser angle, and a hull designed for superior motion characteristics, the drillships will also feature a large deck space with an enclosed riser bay, a flexible mud system for completion operations, and Transocean's patented hybrid power system for lower emissions and improved fuel economy. The dual-activity rigs are equipped with Dynamic Positioning Class 3 (DP-3) capabilities, and the drillships' 1,250-ton load path will enable operations in up to 12,000-foot water depths and drilling depths of up to 40,000 feet. The drillships will have accommodations for a crew of 220 personnel and will be initially outfitted with one 15,000 psi blowout preventer (BOP) with the ability to add a second BOP. Source: deepwater.com.

Sembcorp Marine performs well Amid challenging operating environment in

2013 Sembcorp Marine recorded a full year net profit of $556 million amid a challenging operating environment in 2013. Earnings per share for the Group were 26.6 cceents while Return on Equity was 22%.



Group net profit at $556 million in 2013 was 3% higher as compared with $538 million a year ago. On a quarterly basis, 4Q 2013 net profit at $182 million was 9% higher as compared with $167 million in 2012. Excluding the non-operating items, the Group's net profit at $553 million in 2013 was 11% higher as compared with $500 million in 2012 while net profit in 4Q 2013 at $182 million was 45% higher than the $126 million recorded for the corresponding quarter last year.

Group operating profit in 2013 increased 16% to $644 million from $554 million in 2012. On a quarter to quarter basis, operating profit in 4Q 2013 at $188 million was 27% higher as compared with $148 million in 4Q 2012.

Group turnover for 2013 was $5,526 million representing a 25% increase as compared with $4,430 million in 2012. Overall, the higher turnover was attributable mainly to higher revenue recognition with more rig building projects achieving initial progressive recognition in 4Q 2013 resulting in a 23% increase in turnover from $1,378 million in 4Q 2012 to $1,693 million in 4Q 2013. For the rig building sector, 4Q 2013 turnover at $1,197 million was 38% higher as compared with $870 million for the same period in 2012. The increase was attributable to the initial recognition of the second unit of the Group's repeat drillship design, one accommodation semisubmersible rig and two jack-up rigs. On a FY 2013 basis, turnover increased 51% to $3,564 million as compared with $2,356 million in 2012. A total of eight jack-up rigs comprising of diverse designs were delivered during the year.

These deliveries include four jack-ups from the Group's proprietary Pacific Class 400 design series, two Friede & Goldman JU3000N design rigs and two remaining units based on the Friede & Goldman JU2000E design.

The ship conversion and offshore sector registered a 5% decline in turnover from $330 million in 4Q 2012 to $314 million in 4Q 2013 attributable to the timing of projects that achieved progressive revenue recognition during the period. For FY 2013, it was 14% lower from $1,395 million in 2012 to $1,204 million. The decline was due to the timing of projects coupled with lesser number of projects that achieved progressive revenue recognition during the year.

Turnover from the ship repair sector in 4Q 2013 was $163 million as compared with $167 million for the same period in 2012 due mainly to the timing in recognition of the repair and upgrade projects. For FY 2013, it was $681 million, a 6% increase as compared with $642 million in 2012.

The Group has a net order book of $12.3 billion with completion and deliveries stretching into 2019. This includes $4.2 billion in contract orders secured in 2013, excluding repair and upgrade contracts.

The global economy remains fragile and uncertain. Amid the volatile economic conditions and a competitive landscape, the Group remains focused on its core business. Moving ahead and in anticipation of the tight labour supply situation, the Group will further improve operational efficiency, productivity and safety management as well as ensure timely delivery of projects to its customers, although margin remains challenging. Demand remains strong for Sembcorp Marine's big docks, including the four VLCC drydocks that commenced operations at the Group’s new 73.3-hectare Sembmarine Integrated Yard @ Tuas Phase I facility in August 2013. The new yard will position Sembcorp Marine for long-term sustainable growth with its innovative design, advanced automation and optimised facilities. It will enable the Group to utilise its workforce and resources more effectively to achieve higher productivity and faster turnaround. Geared to meet the stringent safety and quality requirements of vessels and to comply with new regulatory and environmental standards, the integrated yard is well-equipped to provide innovative solutions to serve the growing needs of customers. Source: Sembcorp Marine

ROUTE, PORTS & SERVICES

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APM Terminals Achieves Increased Profit in 2013

APM Terminals has announced its 2013 business results and delivered an increased profit of USD 770m and a return on invested capital of 13.5% (15.2%), reflecting improved underlying performance but also a higher asset base due to the continued high investment level. The expansion into high growth markets continued, exemplified by projects in Mexico, Peru, Brazil, Ivory Coast, Nigeria, Russia and China. APM Terminals continued to work on developing attractive customer propositions as well as driving continuous improvement in operational efficiency. Total revenue increased by 3% due to higher volume and increased construction revenue on behalf of certain concession grantors. Excluding construction revenue, port revenue grew broadly in line with volume growth. Inland revenue was impacted by the divestments of the Maersk Equipment Service Company Inc., USA (MESC) in 2012, and Bridge Terminal Transport Inc., USA in 2013. Operations in emerging markets faced inflationary cost pressures. However, excluding the construction revenue, the EBITDA margin improved by 0.6%. This was mainly due to a cost savings programme which delivered cost reductions of more than USD 100m primarily through operational efficiencies and retendering of several supplier contracts. The invested capital increased to USD 6.2bn (USD 5.5bn) reflecting the continued high investment level in APM Terminals, including the development of new terminals in Santos, Brazil, and Maasvlakte II, the Netherlands as well as various expansion projects. In total more than 3m TEUs of additional container handling capacity was added to the APM Terminals network in 2013 (more than 1.3m TEUs at APM Terminals’ equity share). INITIATIVES IN 2013

APM Terminals continued to work on developing attractive customer propositions. Volumes from 3rd party customers reached 50% of the total in 2013 (48%). The higher productivity achieved in 2012 was maintained throughout 2013. A further improvement is targeted for 2014. APM Terminals remains committed to driving continuous improvement in operational efficiency. A recent study on global port and terminal productivity released by the US-based Journal of Commerce Group, and based on data from the first half of 2013,

has named five facilities from the APM Terminals Global Terminal Network among the world’s 10 most productive container terminals. MARKET DEVELOPMENT The global container terminal market measured in TEU increased by 3% during 2013 (Drewry). The shipping industry is trending towards more global alliances and larger vessels, with an associated cascading of bigger vessels down the shipping lanes. Port operators can expect to handle fewer but larger calls, placing additional demands on port infrastructure. APM Terminals is well placed to take advantage of these developments in the market. PORTFOLIO APM Terminals and Turkey-based Petkim entered into an agreement to build and operate Aegean Gateway Terminal, Izmir – one of Turkey’s largest container and general cargo terminals. Operations are expected to start in summer 2015. The initial investment for the container terminal is approximately USD 400m. APM Terminals will have the right to operate the port for a period of 28 years which may be extended. The terminal will be capable of handling vessels with capacity over 10,000 TEU. Global Ports, the leading operator of container terminals in Russia and in which APM Terminals holds a cocontrolling share, completed an agreement to acquire a competing operator, NCC Group Limited. The transaction has diluted APM Terminals’ ownership share to 30.75% in the combined entity. The enlarged Global Ports will operate seven container



terminals, with a total marine container handling capacity of approximately 4m TEU’s, located both around the Baltic Sea and the Russian Far East. Global Ports is now the largest container terminal operator in Russia. The jointly owned Brasil Terminal Portuario in Santos, Brazil commenced operations during Q3 2013. This was eight months later than expected due to delays in getting the necessary permits issued. Operations are in a ramp up phase. The facility is equipped with eight Ship-to-Shore cranes operating over 1,100 meters of quay. APM Terminals opened the 600 metres re-constructed quay in Monrovia, Liberia. The re-construction was completed on time and within budget. APM Terminals divested 70% of the Brigantine Group in Hong Kong, China at the end of the year. Source : Dredging Today

New Kongsberg information management system for the world’s

largest cruise ship Dragutin Radobuljac, the Chief Electrical Engineer on Royal Caribbean Cruise Line’s mega cruise ship the Allure of the Seas, has described the new Kongsberg Information Management System (KIMS) as a “Revolutionary upgrade,” with significant influence on vessel operations. KIMS is a state-of-the-art, customised data management system that operates over a global, secure and highly scalable infrastructure.

KIMS features a suite of applications within a single web portal providing high level vessel data access to engineers and management. The user interface, known as the IMS Portal, is available on board and on the RCCL office network in Miramar, Florida. KIMS data is also accessed on board using tablets and is displayed on a large screen in the Engine Control Room on Allure. “The Information Management System delivered to Allure is obviously a revolutionary upgrade in data storing and a handling application that has a significant influence on our day to day operation. It helps us to perform our daily duties and continue with smooth ship operation,” comments Dragutin Radobuljac.

KIMS was installed during a significant upgrade to the existing Kongsberg Maritime K-Chief automation system on board. The new K-Chief on Allure is one of the most extensive ever installed by Kongsberg Maritime, consisting 76 Remote Control Units (RCUs) controlling over 40,000 Input/Output (IO) points. KIMS replaces the exiting K-Chief History Station and as the data logging system of choice on board, will provide data from 21,000 I/O points (up from 14,500) and data storage for 7 years (up from 1 year). This provides RCCL with extensive data and statistics with which to improve vessel operational performance.

KIMS provides the ability to review statistical data, condition based monitoring, alarms and events, and ship performance monitoring data. Condition Based maintenance on Allure provides a long term overview of the equipment performance and mechanical degradation, which supports preventative maintenance. Alarms and Events reporting provide the ability to review the most commonly repeating alarms and fix issues with equipment before they become emergencies.

According to Hans Ellingsen, Manager, Information Management Systems at Kongsberg Maritime, fuel efficiency was a key driver behind the installation of KIMS: “The Chief Engineer requested a report which would show how much fuel was being consumed since noon the previous day. The report includes all the heavy consumers as line items so the data can be used to help with decisions about which consumers should be kept running and consuming power and which may be shut off. Consequently, the vessel can be operated at a lower fuel cost.”

The KIMS solution on Allure is a triple redundant data access and storage system with servers located in three zones – two on board and one in a hosted cloud service. This configuration enables RCCL management to access the vessel’s data without having to use satellite communications, thereby saving on communication costs. A malware protection system to filter out any malicious attacks from the web or via USB on board is included whilst an admin server allows secure remote access to the vessel from authorised locations including the Kongsberg Maritime customer support team. Source: Kongsberg

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The QUEEN OFONIME outbound from Cape Town – Photo : Aad Noorland ©

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