Lamprell appoints new CEO

Christopher McDonald is to join Lamprell as its new CEO and director effective as of October 1, succeeding Jim Moffat, who is retiring after just over three years in the role.

Following a handover period, Moffat will remain at Lamprell in a part-¬time consultancy role from mid¬-November until March 31 next year. He stand down as a company director on September 30.

McDonald was previously Petrofac’s executive vice-president and group head of business development, based in the UAE.

Prior to joining Petrofac, McDonald spent 18 years with Halliburton/KBR during which time he served on the board of MW Kellogg and led KBR’s global lump¬sum EPC sales and marketing.

“I am absolutely delighted that we have managed to secure the appointment of someone of Christopher’s calibre and experience. He has an outstanding track record with two of the most respected companies in our industry and he brings a significant depth of leadership capability and market knowledge,” said John Kennedy, chairman of Lamprell, which provides fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries.

Gulf Marine Services secures new contract and extension

Offshore vessel operator Gulf Marine Services has announced that it has won a new contract a Middle East and North Africa (MENA) based national oil company for one of its mid-size class vessels. The contract, scheduled to commence immediately, is for 12 months including options.

In addition, the company has been awarded a contract extension by a different MENA-based oil company for one small class vessel. The extended period is for 12 months, with a further one-year option.

“In the current challenging market conditions our state-of-the-art SESVs continue to offer the most cost-efficient offshore solutions for our clients seeking to extract maximum value from their assets while minimizing costs. We are very pleased that our strong client relationships, leading operational expertise and flexibility have enabled us to secure a new contract and a contract extension for two of our vessels,” said Duncan Anderson, chief executive of the company.

Qatargas, RWE Enter LNG Supply Deal

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Qatar based Liquefied Natural Gas (LNG) company Qatargas has signed contract with European energy trading centre RWE Supply & Trading (RWEST) for the delivery of up to 1.1 million tonnes of liquefied natural gas (LNG) per annum to RWEST in North West Europe for seven and a half years.

The cargo is scheduled to be transported aboard the Qatargas-chartered Q-Flex LNG vessels, which feature a length of 315 meters and a width of 50 meters.

With a capacity of 210,100 to 217,000 m3, the ships will deliver the LNG to RWEST in North West Europe.

The LNG will be supplied from Qatargas 3, a joint venture between Qatar Petroleum, ConocoPhillips and Mitsui & Co. Ltd.

“Qatargas is committed to providing reliable, clean energy to consumers all over the world. This new milestone underscores our commitment to building new partnerships with leading global companies. We hope Qatargas LNG will contribute to enhance Europe’s energy supplies and energy security,” Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer and Chairman of Qatargas Board of Directors, said.

UECC Launches Second Dual-Fuel LNG Car Carrier

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European short-sea operator United European Car Carriers (UECC) launched the second of its two new pure car/truck carriers, TBN Auto Energy, at the Nantong Cosco KHI Ship Engineering (NACKS) shipyard in Nantong, China, on June 30.

The new PCTC is a dual-fuel liquefied natural gas (LNG) vessel, featuring the 1A Super Finnish/Swedish ice class.

With a capacity of approximately 3800 cars, including 6000 sqm of high and heavy cargo, it will be the largest dual-fuel LNG PCTC in the world with the ability of loading cargo on 10 decks with a maximum cargo weight of 160MT, according to UECC.

“It is a ground-breaking moment seeing our second LNG PCTC vessel, one of the most technically advanced PCTCs ever built on the water,” Thomas Ekhaugen, Head of Fleet & Cargo Handling, said.

With a length of 181 metres and a width of 30 metre, TBN Auto Energy will now undergo sea and gas trials, during which the vessel will test its engines using LNG fuel.

UECC, jointly owned by Nippon Yusen Kabushiki Kaisha (NYK) and Wallenius Lines, is expected to take delivery of the new ship on November 28, 2016, in Nantong.

Ordered in March 2014, the two dual-fuel LNG PCTCs are capable of operating with LNG fuel or heavy fuel oil and marine gas oil.

GasLog Secures Charter for Its LNG Newbuilding

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Monaco-based owner and operator of liquefied natural gas (LNG) carriers GasLog Ltd. has signed a time charter contract for a period of seven years with UK-based natural gas and energy supplier Total Gas & Power Chartering Limited (Total) to charter its only LNG newbuilding without a multi-year contract, Hull 2801.

Scheduled for delivery in 2018, the vessel is currently under construction at Hyundai Heavy Industries’ shipyard in South Korea.

Including this carrier, GasLog said it has remaining six LNG carriers on order and all of them have firm, long-term charters of between seven and ten years.

Following the vessel’s delivery from the yard, the seven-year charter will commence in mid-2018, with a further option period of three years.

GasLog said the daily charter rate is in line with its average long-term charter rate and the gross contracted revenue is USD 190 million.

According to VesselsValue, the ship’s market value stands at USD 202.9 million.

Gas Log has eight LNG newbuild carriers in total, with six of them ordered from Samsung Heavy Industries and two from Hyundai Heavy Industries.

“The contracted EBITDA from this vessel means that GasLog has over USD 180 million of annualized in-built EBITDA from its eight newbuilds, two of which have already been delivered this year,” Paul Wogan, Chief Executive Officer of GasLog Ltd., said.

Hull 2801 is one of two 174,000 cubic meter LNG carriers ordered in June 2014 from Hyundai Heavy Industries.

The vessels were ordered with a tri-fuel diesel electric (TFDE) propulsion with GasLog’s option to change to two stroke diesel engines with low-pressure gas injection (LP-2S).

CSSC, Fincantieri to Build Five Cruise Ships

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A joint venture between China’s shipbuilding conglomerate China State Shipbuilding Corporation (CSSC) and the Italian shipbuilder Fincantieri plans to invest some USD 3.7 billion to build five cruise ships, according to local media.

The first vessel from the batch, which will be able to carry up to 5,000 passengers, is scheduled for delivery in 2021.

The announcement follows the establishment of the joint venture last week, when the two companies signed an agreement aimed at developing and supporting the growth of the Chinese cruise industry.

The parties earlier said that the new cruise ships will be built at one of CSSC’s shipyards, the SWS facility.

Namely, the joint venture company will design and sell cruise ships intended and customized for the Chinese and Asian markets.

China estimates that it could become the world’s second largest cruise market after the US, reaching some 4.5 million passengers by 2020 and 8-10 million passengers by 2030, with a double-digit growth per year.

Hyundai Mipo to Build LNG-Fueled Bulker for Ilshin Shipping

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Shipping company Ilshin Shipping has placed an order for a 50,000 dwt liquefied natural gas (LNG) fueled bulk carrier at the South Korean shipbuilder Hyundai Mipo Dockyard.

The parties did not disclose the financial terms of the contract, however, they did reveal that the vessel is scheduled for delivery in late 2017.

The vessel’s fuel tanks will be manufactured from high manganese steel, to be supplied by South Korea’s steel company Posco, starting from the third quarter of the year.

Featuring an energy-efficient, eco-friendly dual-fuel engine, the bulker will be deployed to transport limestone from Gangwon Province to Posco’s facilities in Gwangyang City from 2018.

The high manganese steel contains about 20% manganese, and can therefore store LNG at extremely low temperatures.

Keppel, Shell Form LNG Bunkering JV in Singapore

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KS Investments Pte Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has entered into a shareholders agreement with Shell Eastern Petroleum, a part of Royal Dutch Shell, to form a joint venture company which will establish an LNG bunkering business in Singapore.

The joint venture’s principal business activities will be to supply LNG bunkering operations services in Singapore to ships and any other marine vessels in the Singapore port and other related services.

The shareholding of Keppel and Shell in the JVCO will be 50% and 50%, respectively.

In a separate announcement, Keppel Offshore & Marine said that it has also kept busy at its shipyards, as the company secured four contracts worth SGD 120 million (USD 89.1 million).

The first contract that Keppel Shipyard secured is from BW Catcher Limited, a subsidiary of BW Offshore, for the installation and integration of topside modules for a newbuild Floating Production Storage and Offloading (FPSO) vessel. Upon its completion, the FPSO will be deployed to the Catcher Field located in Central North Sea, UK, which is operated by Premier Oil.

The second contract is from SOFEC, Inc. (SOFEC) to fabricate an Internal Turret Mooring System for a Floating Storage and Offloading vessel that will operate in Maersk Oil’s Culzean Field in UK’s section of the North Sea. Fabrication of the turret is expected to be completed in the third quarter of 2017.

For the third contract, the company’s shipyard will carry out upgrading work to the pipelay vessel, Castorone, for Saipem Offshore Norway AS (Saipem), while the fourth contract was placed by Woodside Energy Ltd for the modification and upgrading of the FPSO vessel Ngujima-Yin to support the Greater Enfield Project.

India to Set Up Major Port at Enayam

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India’s Union Council of Minister has given its ‘in-principle’ approval for setting up a major port at Enayam near Colachel in Tamil Nadu.

According to the information provided by the Indian government, a Special Purpose Vehicle (SPV) will be formed for development of this port with initial equity investment from the three major ports in Tamil Nadu i.e. V.O.Chidambaranar Port Trust, Chennai Port Trust, and Kamarajar Port Limited.

The SPV will develop the port infrastructure including dredging and reclamation, construction of breakwater, and ensuring connectivity links.

“At present, there are only a few ports in India that have sufficient draft and can match global cargo handling efficiencies. Currently, all of India’s trans-shipment traffic gets handled in Colombo, Singapore and other international ports. Indian port industry loses out upto Rs 1,500 Crores of revenues each year,” the government said.

India added that establishing this major port at Enayam will not only act as a major gateway container port for Indian cargo, that is presently trans-shipped outside the country, but also become a transshipment hub for the global East-West trade route.

Enayam would also reduce the logistics cost for exporters and importers in South India who currently depend on trans-shipment in Colombo or other ports thus incurring additional port handling charges.

However, there is a possibility that the proposed new port would create excess capacity in the region, eroding the economic viability of half a dozen ports in the vicinity, The Hindu cited industry experts.

Furthermore, the costs of port infrastructure works could be very high as two breakwaters would need to be constructed to protect the port facility from waves and currents. Additionally, dredging cost to maintain minimum 15 to 16 ft draft could make the project economically unviable.

Boskalis Decides to Withdraw 24 Vessels

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Dutch dredging and maritime company Boskalis has decided to take 24 vessels out of service in the 2016-2018 period through their scrapping, sale and lay-up, which will result in the loss of approximately 650 jobs worldwide during this period.

Out of 24 vessels that will be taken out of service, ten are from the company’s dredging division and fourteen from the offshore energy one. These will include trailing suction hopper dredgers, cutter suction dredgers, anchor handling tugs and heavy transport vessels.

The decision comes as the company published its fleet rationalization study that was initiated “in light of deteriorating market conditions and an expected prolonged period of low energy and commodity prices”.

“The volume of work in the market has fallen sharply and this is putting pressure on the utilization rate of our vessels,” Peter Berdowski, CEO Boskalis, said.

The average age of the vessels earmarked for scrapping or sale is in excess of 30 years. Vessels offered for scrapping will be dismantled at certified shipyards in accordance with the Hong Kong Convention and Boskalis’ own standards, Boskalis said.

In addition, the company said that the workforce reduction will be absorbed through attrition and redeployment, where possible.