(http://www.augustenergy.biz/, February 22, Monday) --- Article from EnergyAsia ...
(EnergyAsia, February 12 2010, Friday) --- The International Bunker Industry Association (IBIA) said an EU directive requiring vessels to use low-sulphur fuel in European ports took effect on January 1, and has not been postponed as recently rumoured.
IBIA said EU Directive 2005/33/EC prescribes that from January 1, 2010, member states must take necessary steps to ensure that ships at berth in EU ports do not use marine fuels with a sulphur content exceeding 0.1% by mass. There have been rumours that this deadline might have been postponed due to potential safety risks involving the switchover on ships using unmodified boilers.
Ian Adams, IBIA’s chief executive, said: “We have heard various rumours, including one which suggests that the deadline for implementation of the EU directive has been postponed by six months. Nothing could be further from the truth. The directive came into force on January 1 and applies to all ships operating to EU ports.
“Ships are not exempt on the ground that the fuel changeover is unsafe because modifications have not been made to its boilers, or to the ship itself. Clearly in such cases the expectation is not that the ship should engage in an unsafe practice but simply that it will not berth. Similarly, there is no automatic dispensation for ships which have made arrangements to carry out the necessary modifications but have not yet implemented them.
“Although the European Commission has signified its awareness of the potential dangers associated with the switchover to low-sulphur fuel while in port, and has recommended to member states that they enforce the regulations with a degree of flexibility for a transitional period in those cases where there is detailed evidence of the existence of an approved plan for vessel and/or boiler modification, the directive is nevertheless now in force and EU member states are obliged to enforce it. This means that all non-compliant ships are at risk.”
IBIA stresses that operators of vessels bound for an EU port unable to comply with the EU directive should coordinate with the local authorities before entering port to take appropriate control measures while the ship is berthed.
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Monday, February 22, 2010
Monday, February 8, 2010
CHINA: Tianjin shipping summit explored tech advances, outlook for 2010
(http://www.augustenergy.biz/, February 8, Monday --- Article from EnergyAsia ...
(EnergyAsia, February 3 2010, Wednesday) --- More than 100 government officials, international executives, technical directors and maritime industry leaders attended the International Maritime and Shipbuilding Outlook Summit China 2010 was held last January 14-15 in the northeastern Chinese city of Tianjin.
Organised by business conference and professional training provider Noppen Shanghai Co Ltd and supported by the Tianjin People’s Municipal Government, the event was part of the city’s efforts to create an international shipping centre to serve northeastern, central and western Asia. For two days, the delegates networked and exchanged information on the latest issues facing the shipping and shipbuilding industries.
The Port of Tianjin is strategically located at the locus of Bohai Bay Rim, the logistics hub of the Tianjin Binhai New District, which is designated by the central government to become China’s third major economic growth driver after Shenzen and Shanghai. The port is expected to handle the most advanced container ships, bulkers, and ocean liners by mid-2010.
Ren Xuefeng, vice-mayor of Tianjin, welcomed the summit’s participants and encouraged them to strengthen their business relationships with Tianjin.
Opening the event was Zhao Shangwu, director general of Tianjin Municipal Office of Port Service, who provided an introduction to Tianjin as well as north China’s shipbuilding industry outlook.
Discussing dry cargo bulk markets, Philip Williams, Asia-Pacific general manager of The Baltic Exchange, likened the present oversupply of ships to the post WWII shipping market, explaining that this will even itself out in time.
Michael Yuen, general manager of IMC Pan Asia, spoke on the shipping markets, pointing out the industry will always have its ‘peaks and troughs’ which we just need to ride out. Discussing Chinese industrial development policies and a forecast of the shipping market was Sun Wei, vice researcher at Integrated Transportation Research Center, NDRC.
Jean Philippe Roman, technical director at Total Lubmarine, provided an overview of Total lubricants’ environmental contribution in the shipping industry, while Chen Jiaben, director of China Welding Association and secretary general of the National Shipbuilding Industry spoke on the development and innovation of welding technology shipbuilding in China.
Shi Renming, managing director at ESAB, presented a paper on cutting machine applications in shipyards, while Lin Xiandong, executive deputy secretary general of The Chinese Society of Naval Architects and Marine Engineering, discussed technical advances in the shipbuilding industry.
The event also heard Mao Boke, vice secretary general of Shanghai International Shipping Institute, Li Zhonggang, deputy general manager of China Ship Design & Research Center Co Ltd, and Philipho Yuan, director of Asian sales at The Maritime Executive. Other topics discussed included the use of digital shipbuilding technology in ship construction, energy-saving and emission-reduction technologies, and the outlook for the shipping industry for 2010.
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(EnergyAsia, February 3 2010, Wednesday) --- More than 100 government officials, international executives, technical directors and maritime industry leaders attended the International Maritime and Shipbuilding Outlook Summit China 2010 was held last January 14-15 in the northeastern Chinese city of Tianjin.
Organised by business conference and professional training provider Noppen Shanghai Co Ltd and supported by the Tianjin People’s Municipal Government, the event was part of the city’s efforts to create an international shipping centre to serve northeastern, central and western Asia. For two days, the delegates networked and exchanged information on the latest issues facing the shipping and shipbuilding industries.
The Port of Tianjin is strategically located at the locus of Bohai Bay Rim, the logistics hub of the Tianjin Binhai New District, which is designated by the central government to become China’s third major economic growth driver after Shenzen and Shanghai. The port is expected to handle the most advanced container ships, bulkers, and ocean liners by mid-2010.
Ren Xuefeng, vice-mayor of Tianjin, welcomed the summit’s participants and encouraged them to strengthen their business relationships with Tianjin.
Opening the event was Zhao Shangwu, director general of Tianjin Municipal Office of Port Service, who provided an introduction to Tianjin as well as north China’s shipbuilding industry outlook.
Discussing dry cargo bulk markets, Philip Williams, Asia-Pacific general manager of The Baltic Exchange, likened the present oversupply of ships to the post WWII shipping market, explaining that this will even itself out in time.
Michael Yuen, general manager of IMC Pan Asia, spoke on the shipping markets, pointing out the industry will always have its ‘peaks and troughs’ which we just need to ride out. Discussing Chinese industrial development policies and a forecast of the shipping market was Sun Wei, vice researcher at Integrated Transportation Research Center, NDRC.
Jean Philippe Roman, technical director at Total Lubmarine, provided an overview of Total lubricants’ environmental contribution in the shipping industry, while Chen Jiaben, director of China Welding Association and secretary general of the National Shipbuilding Industry spoke on the development and innovation of welding technology shipbuilding in China.
Shi Renming, managing director at ESAB, presented a paper on cutting machine applications in shipyards, while Lin Xiandong, executive deputy secretary general of The Chinese Society of Naval Architects and Marine Engineering, discussed technical advances in the shipbuilding industry.
The event also heard Mao Boke, vice secretary general of Shanghai International Shipping Institute, Li Zhonggang, deputy general manager of China Ship Design & Research Center Co Ltd, and Philipho Yuan, director of Asian sales at The Maritime Executive. Other topics discussed included the use of digital shipbuilding technology in ship construction, energy-saving and emission-reduction technologies, and the outlook for the shipping industry for 2010.
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Thursday, February 4, 2010
SINGAPORE: Kelvin Yeo appointed managing director at KPI Bridge Oil subsidiary
(http://www.augustenergy.biz/, February 4, Thursday --- Article from EnergyAsia ...
(EnergyAsia, February 2 2010, Tuesday) --- UK-based marine bunker broker and trader Bridge Oil has named Kelvin Yeo as managing director of its Singapore operations.
A bachelor of commerce degree holder with double majors in accounting and finance from the University of Western Australia, Mr Yeo has over 13 years professional experience in the marine, shipping and offshore oil & gas industries.
Mr Yeo’s most recent assignment was serving as vice-president for commercial & business development of a Singapore public-listed offshore engineering firm. He also served as commercial director of a towage business in Singapore, managed an oil tank terminal in Australia, and built an integrated supply chain solution in Indonesia with barges and bulk carriers.
Jan Obel, KPI Bridge Oil CEO, said: “We are very pleased to have such a seasoned marine professional joining our team. Kelvin has a proven track record of success in the marine industry, and an in-depth knowledge of the Asia market. This will serve him well as he works toward building our business in Asia.”
Bridge Oil Far East Pte Ltd is a fully owned subsidiary of KPI Bridge Oil Group. With a dedicated global team of 60 experienced professionals worldwide including more than 40 bunker brokers and traders, London-headquartered KPI Bridge Oil supplies bunker and lube oil to more than 2,800 harbours worldwide for the international shipping industry.
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(EnergyAsia, February 2 2010, Tuesday) --- UK-based marine bunker broker and trader Bridge Oil has named Kelvin Yeo as managing director of its Singapore operations.
A bachelor of commerce degree holder with double majors in accounting and finance from the University of Western Australia, Mr Yeo has over 13 years professional experience in the marine, shipping and offshore oil & gas industries.
Mr Yeo’s most recent assignment was serving as vice-president for commercial & business development of a Singapore public-listed offshore engineering firm. He also served as commercial director of a towage business in Singapore, managed an oil tank terminal in Australia, and built an integrated supply chain solution in Indonesia with barges and bulk carriers.
Jan Obel, KPI Bridge Oil CEO, said: “We are very pleased to have such a seasoned marine professional joining our team. Kelvin has a proven track record of success in the marine industry, and an in-depth knowledge of the Asia market. This will serve him well as he works toward building our business in Asia.”
Bridge Oil Far East Pte Ltd is a fully owned subsidiary of KPI Bridge Oil Group. With a dedicated global team of 60 experienced professionals worldwide including more than 40 bunker brokers and traders, London-headquartered KPI Bridge Oil supplies bunker and lube oil to more than 2,800 harbours worldwide for the international shipping industry.
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Wednesday, February 3, 2010
CHINA: Yantai Raffles Shipyard marks first ship delivery for 2010
(http://www.augustenergy.biz/, February 3, Wednesday --- Article from EnergyAsia ...
(EnergyAsia, February 2 2010, Tuesday) --- Leading Chinese rig-builder Yantai Raffles Shipyard Ltd has delivered its first vessel for the year with the completion of a new-built Jebsens ‘Vestnes’ self-unloading bulk carrier.
The handy-size vessel measures 175 meters in length and is designed for loading 30,000 tonnes of heavy materials such coal and rocks.
Brian Chang, Yantai Raffles’ deputy chairman, said: “We are very proud to announce our first delivery of 2010. This is a very memorable day for both Yantai Raffles and for Jebsens who have worked tirelessly over the past few years on this project. We are confident we can continue to build a long last relationship with Jebsens in the future.”
On its maiden voyage delivering cargo from northern China to Vietnam, the state-of-the-art vessel will be operated by Jebsens Management AS, a complete ship services provider offering technical management, crew management, dry-docking services, conversion/repair supervision and consulting, new-building supervision, safety and quality assurance inspections and other services to international ship owners.
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(EnergyAsia, February 2 2010, Tuesday) --- Leading Chinese rig-builder Yantai Raffles Shipyard Ltd has delivered its first vessel for the year with the completion of a new-built Jebsens ‘Vestnes’ self-unloading bulk carrier.
The handy-size vessel measures 175 meters in length and is designed for loading 30,000 tonnes of heavy materials such coal and rocks.
Brian Chang, Yantai Raffles’ deputy chairman, said: “We are very proud to announce our first delivery of 2010. This is a very memorable day for both Yantai Raffles and for Jebsens who have worked tirelessly over the past few years on this project. We are confident we can continue to build a long last relationship with Jebsens in the future.”
On its maiden voyage delivering cargo from northern China to Vietnam, the state-of-the-art vessel will be operated by Jebsens Management AS, a complete ship services provider offering technical management, crew management, dry-docking services, conversion/repair supervision and consulting, new-building supervision, safety and quality assurance inspections and other services to international ship owners.
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Thursday, January 28, 2010
SINGAPORE: Bunker fuel sales up 4.2% to hit record 36.4 million tonnes in 2009
(http://www.augustenergy.biz/, January 28, Thursday --- Article from EnergyAsia ...
(EnergyAsia, January 21 2010, Thursday) --- The world’s top bunkering port once again set a new annual sales record of 36.386 million tonnes for 2009, growing 4.2% from 34.936 million tonnes in 2008, according to official data.
The Maritime and Port Authority of Singapore (MPA) said sales were particularly strong in December, surging by 10.4% from the previous month to its second highest level for the year.
December sales reached 3.181 million tonnes compared with November’s 2.882 million tonnes, and just below the all-time monthly high of 3.227 million tonnes reached in May. The latest sales volume also represented a whopping 16.3% rise from December 2008.
Singapore’s booming bunker sales have once again defied doomsday forecasts and the bearish performance in the shipping industry, which has been hard hit by the global economic recession.
The industry attributed the record performance to an increased number of larger ships calling at Singapore’s port to purchase bunker fuel which have consistently been the cheapest in the region. Ironically, in the depressed economic climate, Singapore has gained as ship owners and operators have chosen to load up on fuel and other supplies at its port because of its superior economics over other ports in the region.
The MPA also reported that Singapore’s annual vessel tonnage has risen 10.1% year-on-year to 1.78 trillion gross tonnes (GT), while the total number of ships arriving at port decreased 0.8% from 2008 to 130,575.
Vessel arrivals for December rose to 10,993 or 152,197 million GT, a 5% increase from November.
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(EnergyAsia, January 21 2010, Thursday) --- The world’s top bunkering port once again set a new annual sales record of 36.386 million tonnes for 2009, growing 4.2% from 34.936 million tonnes in 2008, according to official data.
The Maritime and Port Authority of Singapore (MPA) said sales were particularly strong in December, surging by 10.4% from the previous month to its second highest level for the year.
December sales reached 3.181 million tonnes compared with November’s 2.882 million tonnes, and just below the all-time monthly high of 3.227 million tonnes reached in May. The latest sales volume also represented a whopping 16.3% rise from December 2008.
Singapore’s booming bunker sales have once again defied doomsday forecasts and the bearish performance in the shipping industry, which has been hard hit by the global economic recession.
The industry attributed the record performance to an increased number of larger ships calling at Singapore’s port to purchase bunker fuel which have consistently been the cheapest in the region. Ironically, in the depressed economic climate, Singapore has gained as ship owners and operators have chosen to load up on fuel and other supplies at its port because of its superior economics over other ports in the region.
The MPA also reported that Singapore’s annual vessel tonnage has risen 10.1% year-on-year to 1.78 trillion gross tonnes (GT), while the total number of ships arriving at port decreased 0.8% from 2008 to 130,575.
Vessel arrivals for December rose to 10,993 or 152,197 million GT, a 5% increase from November.
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Monday, January 25, 2010
Shipping confidence levels hold up as concern persists about newbuilding glut
(http://www.august.energy.biz/, January 19, Tuesday) --- Article from Merlin Communications ...
Overall confidence levels in the shipping industry have stabilised, according to the latest Shipping Confidence survey by leading shipping account and adviser Moore Stephens, although a sustainable recovery in the markets still appears to be some way off. And the depression in freight rates seems likely to persist amid continued concerns about the level of newbuildings set to enter the market over the next two years.
On a scale of 1 to 10, the average confidence level expressed by respondents in November 2009 in the markets in which they operate was 5.7, the same as in the previous survey in August 2009, which itself was the highest level recorded for twelve months. But this is still significantly down on the 6.8 recorded in the first Moore Stephens survey, in May 2008.
Charterers showed the most significant drop in confidence over the latest three-month period, down from 5.8 to 5.6, while confidence among brokers increased slightly, from 5.6 to 5.7. Confidence among owners remained unchanged at 5.7, while managers dropped from 5.9 to 5.8. Geographically speaking, the most significant changes were evident in North America (down from 5.8 to 5.2) and Asia (5.9 to 5.7). Confidence in Europe continued its recent upward trend, from 5.4 to 5.6.
Once again, the survey revealed a continuing level of concern over the newbuilding orderbook. “There are too many ships already in operation, and even more to come, so there will be very little scope to increase freight rates,” said one respondent, echoing the thoughts of a number of others who responded to the survey. Other comments included, “There is only enough cash to fund half the orderbook, so something has to give”, and, “The massive orderbook is a great cause for concern”. One respondent said that the key to the massive orderbook crisis was for “the banks not to finance any more projects and for shipyards to agree to delays in delivery dates”.
For the fourth successive survey, respondents identified demand trends as the most important factor likely to affect their business performance over the coming year, followed by competition and the cost and availability of finance.
Respondents’ expectations of making a major investment or significant development over the next twelve months remained unchanged at 5.1 overall out of a possible maximum of 10.0. Owners were the most confident in this regard, scoring 5.4, although this represented a marginal drop on the figure recorded in the last survey. Confidence was down in Asia, from 5.4 to 5.0, and marginally up in Europe and Latin America.
Owners, charterers, managers and brokers all expected finance costs to rise over the next twelve months, the overall percentage for all respondents in this regard rising 3 percentage points from 45 to 48%, having fallen one percentage point at the time of the previous survey. The biggest percentage rise was recorded by ship managers, from 46% to 51%.
A geographical divide was also evident, with Asia and Europe anticipating increases (11 percentage points more on the part of Asia) and the Americas expecting costs to fall, in the case of Latin America by no less than 14 percentage points.
So far as the freight markets are concerned, there was a general consensus among respondents that there was very little scope for increasing rates at the moment. Indeed, there was a fall in expectation overall in each of the three tonnage categories covered by the survey that rates would increase over the coming twelve months.
In the tanker market, the number of respondents overall who expected rates to go up fell from 45% to 42% this time, with the most significant shift in opinion being expressed by charterers, where there was a 13 percentage point drop (to 22%) in the number of respondents who thought rates would go up. For owners, expectation levels of an increase were down from 46 to 39% on last time.
In the dry bulk market, meanwhile, the overall expectation of higher rates was down from 41% to 38%, with ship managers alone in increasing, from 41 to 49%, their level of expectation of increases.
Finally, in the container ship sector, 26% of respondents overall, compared to 35% last time, expected rates to rise over the coming twelve months.
Moore Stephens shipping partner, Richard Greiner says, “It is gratifying to see that shipping confidence has been sustained at existing levels over the past three months, having progressively increased over the course of the year. However, confidence is somewhat fragile at present. This is not surprising given the number of newbuildings set to enter the market over the next two years to compete for a volume of trade which, given the state of the world economy, does not seem likely to be able to sustain a significantly larger world fleet. Scrapping and redeployment will take care of some of the over-supply, but we will doubtless see less welcome forms of contraction, and more newbuilding cancellations and delays. As always, well-developed and sustainable business plans will continue to be prerequisites for those seeking finance from the banks.
“It is significant that the survey revealed that respondents in Asia anticipated a downturn in new investment over the coming twelve months, and that Asia also led the way in terms of expecting a big increase in finance costs. Given what has already been invested in the region, in shipyards and elsewhere, this is hardly a surprise. It was notable, too, that operating costs featured more prominently in respondents’ answers this time as a significant factor likely to influence performance over the coming year, given the findings of the recent Moore Stephens future operating costs survey.”
The Moore Stephens Shipping Confidence Survey includes responses from key players worldwide in the international shipping industry to a targeted, web-based survey by the Moore Stephens Shipping Industry Group. Responses were received from owners, charterers, brokers, advisers, managers and others.
Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping and insurance adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 647 offices of independent member firms in 98 countries employing 21,224 people. Fee income increased in 2008 by US$353 million to US$2,237 million, a growth rate of 18.7%.
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Overall confidence levels in the shipping industry have stabilised, according to the latest Shipping Confidence survey by leading shipping account and adviser Moore Stephens, although a sustainable recovery in the markets still appears to be some way off. And the depression in freight rates seems likely to persist amid continued concerns about the level of newbuildings set to enter the market over the next two years.
On a scale of 1 to 10, the average confidence level expressed by respondents in November 2009 in the markets in which they operate was 5.7, the same as in the previous survey in August 2009, which itself was the highest level recorded for twelve months. But this is still significantly down on the 6.8 recorded in the first Moore Stephens survey, in May 2008.
Charterers showed the most significant drop in confidence over the latest three-month period, down from 5.8 to 5.6, while confidence among brokers increased slightly, from 5.6 to 5.7. Confidence among owners remained unchanged at 5.7, while managers dropped from 5.9 to 5.8. Geographically speaking, the most significant changes were evident in North America (down from 5.8 to 5.2) and Asia (5.9 to 5.7). Confidence in Europe continued its recent upward trend, from 5.4 to 5.6.
Once again, the survey revealed a continuing level of concern over the newbuilding orderbook. “There are too many ships already in operation, and even more to come, so there will be very little scope to increase freight rates,” said one respondent, echoing the thoughts of a number of others who responded to the survey. Other comments included, “There is only enough cash to fund half the orderbook, so something has to give”, and, “The massive orderbook is a great cause for concern”. One respondent said that the key to the massive orderbook crisis was for “the banks not to finance any more projects and for shipyards to agree to delays in delivery dates”.
For the fourth successive survey, respondents identified demand trends as the most important factor likely to affect their business performance over the coming year, followed by competition and the cost and availability of finance.
Respondents’ expectations of making a major investment or significant development over the next twelve months remained unchanged at 5.1 overall out of a possible maximum of 10.0. Owners were the most confident in this regard, scoring 5.4, although this represented a marginal drop on the figure recorded in the last survey. Confidence was down in Asia, from 5.4 to 5.0, and marginally up in Europe and Latin America.
Owners, charterers, managers and brokers all expected finance costs to rise over the next twelve months, the overall percentage for all respondents in this regard rising 3 percentage points from 45 to 48%, having fallen one percentage point at the time of the previous survey. The biggest percentage rise was recorded by ship managers, from 46% to 51%.
A geographical divide was also evident, with Asia and Europe anticipating increases (11 percentage points more on the part of Asia) and the Americas expecting costs to fall, in the case of Latin America by no less than 14 percentage points.
So far as the freight markets are concerned, there was a general consensus among respondents that there was very little scope for increasing rates at the moment. Indeed, there was a fall in expectation overall in each of the three tonnage categories covered by the survey that rates would increase over the coming twelve months.
In the tanker market, the number of respondents overall who expected rates to go up fell from 45% to 42% this time, with the most significant shift in opinion being expressed by charterers, where there was a 13 percentage point drop (to 22%) in the number of respondents who thought rates would go up. For owners, expectation levels of an increase were down from 46 to 39% on last time.
In the dry bulk market, meanwhile, the overall expectation of higher rates was down from 41% to 38%, with ship managers alone in increasing, from 41 to 49%, their level of expectation of increases.
Finally, in the container ship sector, 26% of respondents overall, compared to 35% last time, expected rates to rise over the coming twelve months.
Moore Stephens shipping partner, Richard Greiner says, “It is gratifying to see that shipping confidence has been sustained at existing levels over the past three months, having progressively increased over the course of the year. However, confidence is somewhat fragile at present. This is not surprising given the number of newbuildings set to enter the market over the next two years to compete for a volume of trade which, given the state of the world economy, does not seem likely to be able to sustain a significantly larger world fleet. Scrapping and redeployment will take care of some of the over-supply, but we will doubtless see less welcome forms of contraction, and more newbuilding cancellations and delays. As always, well-developed and sustainable business plans will continue to be prerequisites for those seeking finance from the banks.
“It is significant that the survey revealed that respondents in Asia anticipated a downturn in new investment over the coming twelve months, and that Asia also led the way in terms of expecting a big increase in finance costs. Given what has already been invested in the region, in shipyards and elsewhere, this is hardly a surprise. It was notable, too, that operating costs featured more prominently in respondents’ answers this time as a significant factor likely to influence performance over the coming year, given the findings of the recent Moore Stephens future operating costs survey.”
The Moore Stephens Shipping Confidence Survey includes responses from key players worldwide in the international shipping industry to a targeted, web-based survey by the Moore Stephens Shipping Industry Group. Responses were received from owners, charterers, brokers, advisers, managers and others.
Moore Stephens LLP is noted for a number of industry specialisations and is widely acknowledged as a leading shipping and insurance adviser. Moore Stephens LLP is a member firm of Moore Stephens International Limited, one of the world's leading accounting and consulting associations, with 647 offices of independent member firms in 98 countries employing 21,224 people. Fee income increased in 2008 by US$353 million to US$2,237 million, a growth rate of 18.7%.
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Tuesday, January 5, 2010
SINGAPORE: Keppel FELS caps 2009 with record 13 rig deliveries
(http://www.AugustEnergy.biz/, January 05, Tuesday) --- Article from EnergyAsia ...
(http://www.energyasia.com/) --- Singapore’s Keppel FELS Limited said it has delivered a record number of 13 rigs, all within budget and on time, in 2009. For its performance deliveries of eight jackup rigs, four semisubmersible and one semisubmersible drilling tender rigs, customers rewarded the company with a S$2 million bonus. (US$1=S$1.4).
Wong Kok Seng, Keppel FELS executive director, said: “We were able to achieve this by consistently striving for operational excellence and innovation, backed by strong project management and close partnerships with our unions, customers, contractors and vendors.
“For 2010, we will remain focused on execution excellence and further improving efficiency to deliver superior solutions and services safely, on time, and within budget, while pursuing more projects.”
The company made its final delivery for the year on December 29. The West Vencedor was the sixth of seven KFELS semisubmersible drilling tenders (SSDT) delivered to Seadrill Limited, a Norway-based international offshore drilling contractor.
The rig will likely be deployed for development drilling operations off the coast of Angola under a five-year contract with Cabinda Gulf Oil Company Ltd, a subsidiary of Chevron Corporation, in the first quarter of 2010.
Alf Ragnar Løvdal, Seadrill’s senior vice president of tender rigs, said:
“Through Seadrill’s 15-year partnership with Keppel, we have launched the successful KFELS SSDTTM Series of drilling tenders and established a solid operational track record.
“We are pleased to receive West Vencedor early. It represents another quality project for us and demonstrates Seadrill’s and Keppel FELS’s dedication and excellent project management.
“With that, we are also confident that the seventh SSDT, currently under construction, will be another outstanding rig bearing the KFELS SSDTTM stamp as a superior drilling tender solution in the global market.”
Developed by Keppel’s Deepwater Technology Group, the KFELS SSDTTM is an outstanding application of engineering and technological advancement, contributing significantly to environmental protection, as well as the safety of operators involved in offshore platform development drilling.
Keppel Offshore & Marine Group has constructed four of Seadrill’s world-class jackups. Construction of the seventh SSDT and two jackups at Keppel FELS remains on schedule with deliveries expected between the second quarters of 2010 and 2011.
When completed, Keppel-built rigs will make up 35% of Seadrill’s premium fleet.
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(http://www.energyasia.com/) --- Singapore’s Keppel FELS Limited said it has delivered a record number of 13 rigs, all within budget and on time, in 2009. For its performance deliveries of eight jackup rigs, four semisubmersible and one semisubmersible drilling tender rigs, customers rewarded the company with a S$2 million bonus. (US$1=S$1.4).
Wong Kok Seng, Keppel FELS executive director, said: “We were able to achieve this by consistently striving for operational excellence and innovation, backed by strong project management and close partnerships with our unions, customers, contractors and vendors.
“For 2010, we will remain focused on execution excellence and further improving efficiency to deliver superior solutions and services safely, on time, and within budget, while pursuing more projects.”
The company made its final delivery for the year on December 29. The West Vencedor was the sixth of seven KFELS semisubmersible drilling tenders (SSDT) delivered to Seadrill Limited, a Norway-based international offshore drilling contractor.
The rig will likely be deployed for development drilling operations off the coast of Angola under a five-year contract with Cabinda Gulf Oil Company Ltd, a subsidiary of Chevron Corporation, in the first quarter of 2010.
Alf Ragnar Løvdal, Seadrill’s senior vice president of tender rigs, said:
“Through Seadrill’s 15-year partnership with Keppel, we have launched the successful KFELS SSDTTM Series of drilling tenders and established a solid operational track record.
“We are pleased to receive West Vencedor early. It represents another quality project for us and demonstrates Seadrill’s and Keppel FELS’s dedication and excellent project management.
“With that, we are also confident that the seventh SSDT, currently under construction, will be another outstanding rig bearing the KFELS SSDTTM stamp as a superior drilling tender solution in the global market.”
Developed by Keppel’s Deepwater Technology Group, the KFELS SSDTTM is an outstanding application of engineering and technological advancement, contributing significantly to environmental protection, as well as the safety of operators involved in offshore platform development drilling.
Keppel Offshore & Marine Group has constructed four of Seadrill’s world-class jackups. Construction of the seventh SSDT and two jackups at Keppel FELS remains on schedule with deliveries expected between the second quarters of 2010 and 2011.
When completed, Keppel-built rigs will make up 35% of Seadrill’s premium fleet.
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Monday, January 4, 2010
Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) (Amendment) Regulations, 2009
(http://www.AugustEnergy.biz/, January 04, Monday) --- MPA press release...
PORT MARINE CIRCULAR
NO. 16 OF 2009
31 Dec 2009
Shipping Community
Master of Vessel
1. This is to bring to your attention amendments to the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) Regulations 2005, that will be effected when the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) (Amendment) Regulations 2009 comes into force on 1 Jan 2010. The Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) Regulations 2009 was published in the Government Gazette on 28 Dec 2009.
2. The First Schedule to the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) Regulations 2005 (G.N. No. S 24/2005) is deleted and substituted with a new First Schedule as found in the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) (Amendment) Regulations 2009 (G.N. No. S 649/2009)
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PORT MARINE CIRCULAR
NO. 16 OF 2009
31 Dec 2009
Shipping Community
Master of Vessel
1. This is to bring to your attention amendments to the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) Regulations 2005, that will be effected when the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) (Amendment) Regulations 2009 comes into force on 1 Jan 2010. The Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) Regulations 2009 was published in the Government Gazette on 28 Dec 2009.
2. The First Schedule to the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) Regulations 2005 (G.N. No. S 24/2005) is deleted and substituted with a new First Schedule as found in the Maritime and Port Authority of Singapore (Dangerous Goods, Petroleum and Explosives) (Amendment) Regulations 2009 (G.N. No. S 649/2009)
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Thursday, December 31, 2009
Repair Works At Vopak Penjuru Terminal Berth 2
(http://www.AugustEnergy.biz/, December 31, Thursday) --- MPA press release...
PORT MARINE NOTICE
NO. 184 of 2009
30 Dec 2009
Shipping Community
Harbour Craft Community
Applicable to: Mariners operating in the vicinity of Vopak terminal and East Jurong Channel
Date : With effect from 04 Jan 2010 to 03 Jul 2010.
Location : Off East Jurong Channel, within an area bounded by the following coordinates
WGS 84 Datum
Point Latitude (N) Longitude (E)
1 01° 17.892’ 103° 43.874’
2 01° 17.816’ 103° 43.843’
3 01° 17.786’ 103° 43.917’
4 01° 17.862’ 103° 43.948’
Working Hours : 24 hours daily including Sundays and Public Holidays.
Craft : Name Harbour Craft Licence No. Description
Antara Koh PB III SR 0838 I Piling Barge
Antara Koh B7 SR 1218 A Crane Barge
POE 1506 SR 2072 I Crane Barge
Antara Koh 98 SR 2727 H Work Barge
Antara Koh B5 SR 0571 A Work Barge
Eng Tou 64 SR 0437 E Work Barge
Antara Koh AB2 ST 1041 J Tug Boat
Antara Koh AB8 ST 1231 F Tug Boat
SK 3 ST 0007 E Tug Boat
SK 7 ST 0127 F Tug Boat
- SR 0722 F Passenger/Safety Boat
These craft will exhibit the appropriate local and international day and night
signals.
Details : The repair work will be carried out by the crane barges with suspension
hammer.
4 anchors will be laid to hold the crane barges in position within the
working area. Each anchor will be marked with a lighted marker buoys to
indicate the anchor wire touchdown points.
Safety craft will be in attendance during the entire period of stay of the
work area.
Caution : When in the vicinity of the working area, mariners are reminded to:
(a) keep well clear of the lighted marker buoys and not to enter the
working area;
(b) maintain a proper lookout;
(c) proceed at a safe speed and navigate with caution;
(d) maintain a listening watch on VHF Channel 25; and
(e) communicate with Pasir Panjang Control on VHF Channel 25 for assistance, if required.
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PORT MARINE NOTICE
NO. 184 of 2009
30 Dec 2009
Shipping Community
Harbour Craft Community
Applicable to: Mariners operating in the vicinity of Vopak terminal and East Jurong Channel
Date : With effect from 04 Jan 2010 to 03 Jul 2010.
Location : Off East Jurong Channel, within an area bounded by the following coordinates
WGS 84 Datum
Point Latitude (N) Longitude (E)
1 01° 17.892’ 103° 43.874’
2 01° 17.816’ 103° 43.843’
3 01° 17.786’ 103° 43.917’
4 01° 17.862’ 103° 43.948’
Working Hours : 24 hours daily including Sundays and Public Holidays.
Craft : Name Harbour Craft Licence No. Description
Antara Koh PB III SR 0838 I Piling Barge
Antara Koh B7 SR 1218 A Crane Barge
POE 1506 SR 2072 I Crane Barge
Antara Koh 98 SR 2727 H Work Barge
Antara Koh B5 SR 0571 A Work Barge
Eng Tou 64 SR 0437 E Work Barge
Antara Koh AB2 ST 1041 J Tug Boat
Antara Koh AB8 ST 1231 F Tug Boat
SK 3 ST 0007 E Tug Boat
SK 7 ST 0127 F Tug Boat
- SR 0722 F Passenger/Safety Boat
These craft will exhibit the appropriate local and international day and night
signals.
Details : The repair work will be carried out by the crane barges with suspension
hammer.
4 anchors will be laid to hold the crane barges in position within the
working area. Each anchor will be marked with a lighted marker buoys to
indicate the anchor wire touchdown points.
Safety craft will be in attendance during the entire period of stay of the
work area.
Caution : When in the vicinity of the working area, mariners are reminded to:
(a) keep well clear of the lighted marker buoys and not to enter the
working area;
(b) maintain a proper lookout;
(c) proceed at a safe speed and navigate with caution;
(d) maintain a listening watch on VHF Channel 25; and
(e) communicate with Pasir Panjang Control on VHF Channel 25 for assistance, if required.
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Sunday, December 6, 2009
SINGAPORE: Keppel O&M wins marine contracts worth S$165 million from Petrobras and Saipem
(http://www.augustenergy.biz/, December 3, Thursday --- Article from EnergyAsia ...
(http://www.energyasia.com/) --- Singapore’s Keppel Offshore & Marine Ltd said it has secured two marine contracts worth a total of about $165 million through subsidiaries Keppel Shipyard Limited and Keppel Verolme BV. (US$1=S$1.38).
The first project, secured by Keppel Shipyard from repeat customer Petrobras Netherlands BV (PNBV), is for the pre-conversion of P-58, a floating production storage and offloading (FPSO) vessel for the Campos Basin in Brazil.
The second project involves the repair and modification of the semisubmersible pipelay vessel, Castoro Sei for Italian oil and gas contractor Saipem SpA by Keppel Verolme.
Keppel Shipyard’s scope of work on P-58 includes structural and piping renewal, tank coating as well as refurbishment and upgrading of the accommodation. When completed in the first quarter of 2011, the vessel will sail to Brazil for the rest of the conversion which includes completion works of the topsides.
P-58 will have a production capacity of 180,000 barrels of oil per day (b/d) and gas compression capacity of 6 million cubic metres per day. It will operate in Parque das Baleias’ north field, in the Campos Basin and spread moored in a water depth of 1,400 metres.
Tong Chong Heong, CEO of Keppel O&M, said: “As a group, Keppel O&M has built a strong reputation and a trusted brand name for diverse projects with safe and efficient turnaround.
“We hope that with our versatility, experience and expertise, we continue to be provider of choice for the international market.”
Renato de Souza Duque, Petrobras’ services director, said:
“We know Keppel very well. They have completed many projects for us successfully and have demonstrated excellent project management and reliability. We look forward to another high quality project from them.”
Keppel Shipyard’s projects for Petrobras and Brazil currently also include the major conversion of FPSO P-57, FPSO BW Pioneer and FPSO Peregrino as well as the modification and upgrading of FPSO Capixaba. At present, Keppel Shipyard is carrying out seven other major conversions and upgrading projects at its yards.
Over in the Netherlands, Keppel Verolme has been tasked to overhaul four thrusters, install new stinger handling support rails and repair and modify the onboard gantry cranes and fendering system of Castoro Sei. The semisubmersible pipelay vessel will also undergo an extensive hull blasting and painting programme.
Work on Castoro Sei is scheduled for completion in the first quarter of 2010. It will be deployed for the Nord Stream project, a gas pipeline which will link Russia and the European Union via the Baltic Sea.
Tiziano Zarbo, Saipem Asset manager for offshore fleet, said: “We had an excellent working experience with Keppel Verolme on the recent drydocking of Saipem 7000. Considering the time constraints and technical difficulties involved, we are pleased to again partner Keppel Verolme which has proven to be a reliable partner to Saipem.”
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(http://www.energyasia.com/) --- Singapore’s Keppel Offshore & Marine Ltd said it has secured two marine contracts worth a total of about $165 million through subsidiaries Keppel Shipyard Limited and Keppel Verolme BV. (US$1=S$1.38).
The first project, secured by Keppel Shipyard from repeat customer Petrobras Netherlands BV (PNBV), is for the pre-conversion of P-58, a floating production storage and offloading (FPSO) vessel for the Campos Basin in Brazil.
The second project involves the repair and modification of the semisubmersible pipelay vessel, Castoro Sei for Italian oil and gas contractor Saipem SpA by Keppel Verolme.
Keppel Shipyard’s scope of work on P-58 includes structural and piping renewal, tank coating as well as refurbishment and upgrading of the accommodation. When completed in the first quarter of 2011, the vessel will sail to Brazil for the rest of the conversion which includes completion works of the topsides.
P-58 will have a production capacity of 180,000 barrels of oil per day (b/d) and gas compression capacity of 6 million cubic metres per day. It will operate in Parque das Baleias’ north field, in the Campos Basin and spread moored in a water depth of 1,400 metres.
Tong Chong Heong, CEO of Keppel O&M, said: “As a group, Keppel O&M has built a strong reputation and a trusted brand name for diverse projects with safe and efficient turnaround.
“We hope that with our versatility, experience and expertise, we continue to be provider of choice for the international market.”
Renato de Souza Duque, Petrobras’ services director, said:
“We know Keppel very well. They have completed many projects for us successfully and have demonstrated excellent project management and reliability. We look forward to another high quality project from them.”
Keppel Shipyard’s projects for Petrobras and Brazil currently also include the major conversion of FPSO P-57, FPSO BW Pioneer and FPSO Peregrino as well as the modification and upgrading of FPSO Capixaba. At present, Keppel Shipyard is carrying out seven other major conversions and upgrading projects at its yards.
Over in the Netherlands, Keppel Verolme has been tasked to overhaul four thrusters, install new stinger handling support rails and repair and modify the onboard gantry cranes and fendering system of Castoro Sei. The semisubmersible pipelay vessel will also undergo an extensive hull blasting and painting programme.
Work on Castoro Sei is scheduled for completion in the first quarter of 2010. It will be deployed for the Nord Stream project, a gas pipeline which will link Russia and the European Union via the Baltic Sea.
Tiziano Zarbo, Saipem Asset manager for offshore fleet, said: “We had an excellent working experience with Keppel Verolme on the recent drydocking of Saipem 7000. Considering the time constraints and technical difficulties involved, we are pleased to again partner Keppel Verolme which has proven to be a reliable partner to Saipem.”
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Monday, November 30, 2009
MARKETS: Plunge in freight rates spurs oil storage at sea
(http://www.augustenergy.biz/, November 30, Monday --- Article from EnergyAsia ...
(http://www.energyasia.com/) --- The decline in freight rates is encouraging companies to charter tankers to store more oil products at sea, said Simpson Spence and Young, the world’s second-largest shipbroker.
In a research report, the broker reported that in October, traders had chartered 112 tankers with a combined 13.1 million deadweight tonnes to store oil products, up from 96 vessels with a total capacity of 11.3 million tonnes in September.
Rental costs have plunged, with the cost of hiring super tankers for a year down 43% this year to US$31,500 a day, the broker said in the report.
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(http://www.energyasia.com/) --- The decline in freight rates is encouraging companies to charter tankers to store more oil products at sea, said Simpson Spence and Young, the world’s second-largest shipbroker.
In a research report, the broker reported that in October, traders had chartered 112 tankers with a combined 13.1 million deadweight tonnes to store oil products, up from 96 vessels with a total capacity of 11.3 million tonnes in September.
Rental costs have plunged, with the cost of hiring super tankers for a year down 43% this year to US$31,500 a day, the broker said in the report.
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Tuesday, November 24, 2009
Quality buyers shore up Schat-Harding orderbook
(http://www.august.energy.biz/, November 24, Tuesday) --- Article from Merlin Communications ...
Despite a rapidly contracting global shipbuilding orderbook, the world’s leading lifeboat and davit manufacturer, Schat-Harding, has secured a healthy US$10.6m of orders for new equipment in the last three months.
The orders cover all types of shipping and offshore units, including orders for new ferries, FPSOs, containerships and warships. The contracts also have a good geographical spread as clients in Korea, Singapore, Mexico, Norway, Germany and China have shown their confidence in Schat-Harding.
Per Einar Gjerding, Director Sales and Marketing, Schat-Harding, says, “We see three reasons why we have been selected on many projects recently. First of all, only the healthiest projects by the strongest owners are being realised these days. They want quality. Secondly, it is important for the shipyards, as our clients, to deliver quality to their clients on the few projects they are awarded these days. They do not gamble. And thirdly, we have worked hard internally with very dedicated and hard working teams to ensure clients get what they need. Our offshore team has been especially effective.”
In Korea, the single largest market for Schat-Harding, both Daewoo Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding have placed orders. Two ferries building for Greek owner Blue Star Ferries at Daewoo will have Schat-Harding MPC32 lifeboats and Stinger fast rescue boats. At STX the FSU building for IOOC will have KISS system boats and davits and also the Stinger fast rescue boat.
In Singapore, Modec has awarded the supply of lifesaving equipment to Schat-Harding for its PSVM FPSO conversion project for BP. It will be fitted with four KISS systems and the Stinger fast rescue craft. Otto Marine Ltd has chosen Schat-Harding KISS systems for a multipurpose vessel building for Norshore.
Mexico’s Pemex has recently ordered four more conventional lifeboat systems for its Litoral Tabasco project. These will be built at Schat-Harding’s dedicated Americas facility in Louisiana, USA.
Gjerding says, “This strong performance in a contracting and difficult market vindicates our focus on quality, and also on post-sales support. Owners need to know that the support and spares they need to keep their lifesaving equipment in good working order will be there for the future. It is also good to note that the strong orderbook contains a spread of new products, such as our very successful Stinger fast rescue boat, and also our tried and tested products such as the MPC32 cruise ship lifeboat and the simple but effective KISS lifeboats and VIP davits.”
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Despite a rapidly contracting global shipbuilding orderbook, the world’s leading lifeboat and davit manufacturer, Schat-Harding, has secured a healthy US$10.6m of orders for new equipment in the last three months.
The orders cover all types of shipping and offshore units, including orders for new ferries, FPSOs, containerships and warships. The contracts also have a good geographical spread as clients in Korea, Singapore, Mexico, Norway, Germany and China have shown their confidence in Schat-Harding.
Per Einar Gjerding, Director Sales and Marketing, Schat-Harding, says, “We see three reasons why we have been selected on many projects recently. First of all, only the healthiest projects by the strongest owners are being realised these days. They want quality. Secondly, it is important for the shipyards, as our clients, to deliver quality to their clients on the few projects they are awarded these days. They do not gamble. And thirdly, we have worked hard internally with very dedicated and hard working teams to ensure clients get what they need. Our offshore team has been especially effective.”
In Korea, the single largest market for Schat-Harding, both Daewoo Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding have placed orders. Two ferries building for Greek owner Blue Star Ferries at Daewoo will have Schat-Harding MPC32 lifeboats and Stinger fast rescue boats. At STX the FSU building for IOOC will have KISS system boats and davits and also the Stinger fast rescue boat.
In Singapore, Modec has awarded the supply of lifesaving equipment to Schat-Harding for its PSVM FPSO conversion project for BP. It will be fitted with four KISS systems and the Stinger fast rescue craft. Otto Marine Ltd has chosen Schat-Harding KISS systems for a multipurpose vessel building for Norshore.
Mexico’s Pemex has recently ordered four more conventional lifeboat systems for its Litoral Tabasco project. These will be built at Schat-Harding’s dedicated Americas facility in Louisiana, USA.
Gjerding says, “This strong performance in a contracting and difficult market vindicates our focus on quality, and also on post-sales support. Owners need to know that the support and spares they need to keep their lifesaving equipment in good working order will be there for the future. It is also good to note that the strong orderbook contains a spread of new products, such as our very successful Stinger fast rescue boat, and also our tried and tested products such as the MPC32 cruise ship lifeboat and the simple but effective KISS lifeboats and VIP davits.”
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Friday, November 20, 2009
SINGAPORE: Stolt-Nielsen keeping storage project on hold
(http://www.augustenergy.biz/, November 20, Friday --- Article from EnergyAsia ...
(http://www.energyasia.com/) --- Norwegian shipping group Stolt-Nielsen is delaying construction of a chemical storage tank terminal in Jurong Island in Singapore until it receives firm commitments from clients to use the facility.
The company had announced plans to build the terminal early last year, with completion due for for end-2009.
Ten oil and petrochemical companies have submitted letters of intent to use the facility, which could cost as much as S$200 million, but none have signed any contracts yet. The Norwegian firm expects several of the companies to make a decision by the end of this year. (US$1=S$1.39).
Potential customers include Shell and ExxonMobil, which are setting up petrochemical complexes in Singapore within the next two years.
Stolt-Nielsen had put the terminal project on hold last year because of the global financial crisis.
If completed, the terminal could store between 250,000-300,000 cubic metres of chemicals.
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(http://www.energyasia.com/) --- Norwegian shipping group Stolt-Nielsen is delaying construction of a chemical storage tank terminal in Jurong Island in Singapore until it receives firm commitments from clients to use the facility.
The company had announced plans to build the terminal early last year, with completion due for for end-2009.
Ten oil and petrochemical companies have submitted letters of intent to use the facility, which could cost as much as S$200 million, but none have signed any contracts yet. The Norwegian firm expects several of the companies to make a decision by the end of this year. (US$1=S$1.39).
Potential customers include Shell and ExxonMobil, which are setting up petrochemical complexes in Singapore within the next two years.
Stolt-Nielsen had put the terminal project on hold last year because of the global financial crisis.
If completed, the terminal could store between 250,000-300,000 cubic metres of chemicals.
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Thursday, November 19, 2009
Cargoship Maritime BV to restructure time charters
(http://www.august.energy.biz/, November 19, Thursday) --- Article from Merlin Communications...
Cargoship Maritime BV, a Netherlands-based vessel operating company, has entered into talks for restructuring its time charter portfolio. The aim is to renegotiate the time charters of the vessels in the company to better reflect market prospects. The renegotiation will affect time charters of twenty-two ships currently trading, mostly tankers, and thirteen different owners.
All of the vessels affected by the renegotiation are commercially managed by Netherlands-based Seaarland Shipping Management BV. Antonio Zacchello, managing director of Seaarland Shipping Management says, “The world has changed in a way few could have anticipated and shipping in general has entered a very tough period. We all have to adjust to that. The charters within the company were made in different times and are not sustainable in this market. We need to renegotiate the charter rates and periods in order to allow the company to carry on its business and be positioned for the future when the market will recover and the company can resume its charter obligations. We will present everyone involved with a restructuring plan which will be balanced and equal and if that is accepted we can continue payments and the company can go on. Meanwhile we can continue to trade, which benefits all parties. We have the support of our banks and if everyone involved behaves sensibly we can see a clear way forward which avoids dissolving the company.”
The restructuring of Cargoship Maritime does not involve other companies managed by Seaarland.
In move to ensure that the restructuring of the time charter fleet does not affect pool partners, the time chartered vessels in Cargoship have been withdrawn from the Handytankers, Aframax International and Baumarine pools.
The agency agreement for marketing the Handytankers Pool and Aframax International Pool will be terminated and the activity for these regions will be relocated to pool managers Maersk and OSG respectively. The joint venture agreement covering the Suezmax International Pool between OSG and Seaarland has also been terminated. Pool management of Suezmax International is now carried out entirely by OSG.
Singapore-based Global Tanker Pool is unaffected by the Cargoship time charter renegotiation. It will continue to be managed out of Singapore and none of the vessels chartered by Cargoship are entered in the pool.
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Cargoship Maritime BV, a Netherlands-based vessel operating company, has entered into talks for restructuring its time charter portfolio. The aim is to renegotiate the time charters of the vessels in the company to better reflect market prospects. The renegotiation will affect time charters of twenty-two ships currently trading, mostly tankers, and thirteen different owners.
All of the vessels affected by the renegotiation are commercially managed by Netherlands-based Seaarland Shipping Management BV. Antonio Zacchello, managing director of Seaarland Shipping Management says, “The world has changed in a way few could have anticipated and shipping in general has entered a very tough period. We all have to adjust to that. The charters within the company were made in different times and are not sustainable in this market. We need to renegotiate the charter rates and periods in order to allow the company to carry on its business and be positioned for the future when the market will recover and the company can resume its charter obligations. We will present everyone involved with a restructuring plan which will be balanced and equal and if that is accepted we can continue payments and the company can go on. Meanwhile we can continue to trade, which benefits all parties. We have the support of our banks and if everyone involved behaves sensibly we can see a clear way forward which avoids dissolving the company.”
The restructuring of Cargoship Maritime does not involve other companies managed by Seaarland.
In move to ensure that the restructuring of the time charter fleet does not affect pool partners, the time chartered vessels in Cargoship have been withdrawn from the Handytankers, Aframax International and Baumarine pools.
The agency agreement for marketing the Handytankers Pool and Aframax International Pool will be terminated and the activity for these regions will be relocated to pool managers Maersk and OSG respectively. The joint venture agreement covering the Suezmax International Pool between OSG and Seaarland has also been terminated. Pool management of Suezmax International is now carried out entirely by OSG.
Singapore-based Global Tanker Pool is unaffected by the Cargoship time charter renegotiation. It will continue to be managed out of Singapore and none of the vessels chartered by Cargoship are entered in the pool.
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Tuesday, November 10, 2009
IBIA warns of forthcoming ECA conflicts for passenger ships
(http://www.august.energy.biz/, November 10, Tuesday) --- IBIA press release...
THE International Bunker Industry Association (IBIA) has warned that, from July of next year, passenger ships operating in European territorial waters could, during the course of one single voyage, be subject to three different limits regulating the amount of sulphur content in the fuels they consume.
This situation results from a reduction, from 1.50 per to 1.00 per cent, in the maximum allowable sulphur content of fuels used by ships operating in designated Emission Control Areas (ECAs) covering the Baltic and North Sea/English Channel. This compares with the 1.50 per cent sulphur limit applicable to passenger ships when operating on a regular service to or from EC ports under European law.
Ian Adams, chief executive of IBIA, explains, “Under this scenario, a passenger vessel leaving Northern Europe for a Mediterranean cruise will be required, with effect from 1 July next year, to burn a maximum 1.00 per cent sulphur fuel in the Baltic and North Sea and a maximum 1.50 per cent in the Mediterranean, while potentially being able to burn 4.50 per cent outside EU territorial waters.
“IBIA understands that, since the rules covering passenger ship emissions are contained in an EU directive, they are not affected by any change in the IMO standard for ECAs. The only way in which this apparent anomaly can be addressed is by a revision of EU Directive 1999/32/EC, which covers the sulphur content of liquid fuels derived from petroleum, including those used by seagoing ships.
“Absent any amendment of the EU directive, owners, operators and their bunker suppliers will need to exercise extreme vigilance in ensuring that they do not fall foul of the regulations come July of next year, or simply play safe by opting to use a maximum 1.00 per cent sulphur fuel at all times.”
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THE International Bunker Industry Association (IBIA) has warned that, from July of next year, passenger ships operating in European territorial waters could, during the course of one single voyage, be subject to three different limits regulating the amount of sulphur content in the fuels they consume.
This situation results from a reduction, from 1.50 per to 1.00 per cent, in the maximum allowable sulphur content of fuels used by ships operating in designated Emission Control Areas (ECAs) covering the Baltic and North Sea/English Channel. This compares with the 1.50 per cent sulphur limit applicable to passenger ships when operating on a regular service to or from EC ports under European law.
Ian Adams, chief executive of IBIA, explains, “Under this scenario, a passenger vessel leaving Northern Europe for a Mediterranean cruise will be required, with effect from 1 July next year, to burn a maximum 1.00 per cent sulphur fuel in the Baltic and North Sea and a maximum 1.50 per cent in the Mediterranean, while potentially being able to burn 4.50 per cent outside EU territorial waters.
“IBIA understands that, since the rules covering passenger ship emissions are contained in an EU directive, they are not affected by any change in the IMO standard for ECAs. The only way in which this apparent anomaly can be addressed is by a revision of EU Directive 1999/32/EC, which covers the sulphur content of liquid fuels derived from petroleum, including those used by seagoing ships.
“Absent any amendment of the EU directive, owners, operators and their bunker suppliers will need to exercise extreme vigilance in ensuring that they do not fall foul of the regulations come July of next year, or simply play safe by opting to use a maximum 1.00 per cent sulphur fuel at all times.”
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Sunday, November 8, 2009
APEC Singapore 2009
(http://www.AugustEnergy.biz/, November 09, Monday) --- MPA press release...
PORT MARINE NOTICE
NO. 160 of 2009
6 Nov 2009
Shipping Community
Harbour Craft Community
Pleasure Craft Community
1 The APEC Singapore 2009 will be held from 08 Nov 2009 till 15 Nov 2009.
2 In conjunction with the APEC Singapore 2009 and in exercise of the powers
conferred under Reg 45 (2) of the Maritime and Port Authority of Singapore (Port)
Regulations, the Port Master hereby prohibits all vessels from anchoring in the
demarcated area at the Eastern Anchorage (AEW) as shown in the attached chartlet. This
prohibition shall take effect on the (Sat) 14 Nov 09 from 1600hrs to 2359hrs.
3 The demarcated area referred to in the preceding paragraph is bounded by the
following coordinates.
Point Latitude (N) Longitude (E)
1 1°17.23’ 103°53.01’
2 1°17.00’ 103°53.19’
3 1°15.76’ 103°51.69’
4 1°16.01’ 103°51.66’
5 1°16.26’ 103°51.33’
4 Vessels that are currently anchored within the demarcated area are required to shift
out of the area by 1300hrs on 14 Nov 09.
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PORT MARINE NOTICE
NO. 160 of 2009
6 Nov 2009
Shipping Community
Harbour Craft Community
Pleasure Craft Community
1 The APEC Singapore 2009 will be held from 08 Nov 2009 till 15 Nov 2009.
2 In conjunction with the APEC Singapore 2009 and in exercise of the powers
conferred under Reg 45 (2) of the Maritime and Port Authority of Singapore (Port)
Regulations, the Port Master hereby prohibits all vessels from anchoring in the
demarcated area at the Eastern Anchorage (AEW) as shown in the attached chartlet. This
prohibition shall take effect on the (Sat) 14 Nov 09 from 1600hrs to 2359hrs.
3 The demarcated area referred to in the preceding paragraph is bounded by the
following coordinates.
Point Latitude (N) Longitude (E)
1 1°17.23’ 103°53.01’
2 1°17.00’ 103°53.19’
3 1°15.76’ 103°51.69’
4 1°16.01’ 103°51.66’
5 1°16.26’ 103°51.33’
4 Vessels that are currently anchored within the demarcated area are required to shift
out of the area by 1300hrs on 14 Nov 09.
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Tuesday, October 20, 2009
SINGAPORE: IMO fund raises Straits of Malacca stakeholders’ co-operation to a new high
(www.AugustEnergy.biz, October 20, Tuesday) --- From EnergyAsia...
Indonesia, Malaysia and Singapore have concluded a joint technical arrangement with the International Maritime Organisation (IMO) for a trust fund that supports co-operation among stakeholders in enhancing safety and marine environment protection in the Straits of Malacca and Singapore.
With an initial contribution of US$1 million from Greece, the fund advances a UN Convention on the Law of the Sea (UNCLOS) provision for international co-operation in maintaining the straits for international navigation since the establishment of the historic Co-operative Mechanism in 2007.
The agremment was signed by the heads of the maritime administrations of the three Southeast Asian countries and the director of Maritime Safety Division of the IMO during the recent 2nd Co-operative Forum hosted by Singapore.
Singapore’s Transport Minister and Second Minister for Foreign Affairs, Raymond Lim, said: “The Straits remains one of the busiest and most important shipping lanes in the world. I am heartened by the collective interest and commitment of coastal and user States to work together to ensure that the Straits of Malacca and Singapore remain safe and open to shipping.”
He praised the progress made by the Co-operative Mechanism, but highlighted the challenge to sustain interest and encourage participation and contributions from existing as well as new stakeholders.
He stressed that this was critical “as a third of the world's trade and half of its oil passed through the Straits.”
He said: “The Co-operative Mechanism is timely to promote and facilitate international cooperation in this important waterway and that the institutionalisation of the IMO Trust Fund is a very welcome development.”
Mr Lim later presented letters of recognition to the heads of delegations of Australia, China, Greece, India, Japan and the US attending the meeting.
These countries were recognised for their active contributions towards implementing the six initial projects under the Co-operative Mechanism including (i) removal of wrecks in the Straits (ii) enhancing preparedness and response capability against hazardous and noxious substances (HNS) incidents (iii) demonstration trial of AIS class-B transponders (iv) wind, tide and current measurement system (v) replacement and maintenance of navigation aids and (vi) replacement of navigation aids damaged by tsunami off Sumatra.
MPA chief executive Lam Yi Young said that “the co-operation between Straits users and the three littoral states since the establishment of the Co-operative Mechanism has been very encouraging. Going forward, we can expect greater collaboration among Straits stakeholders in ensuring safety and the protection of the marine environment in these important straits used for international navigation.”
The IMO director of Maritime Safety Division (MSD) Koji Sekimizu said: “The fact that the three littoral states have acted in such a timely manner and continue to display a strong determination to move matters forward, thereby building on the momentum established by the IMO-sponsored meetings, to be extremely positive and encouraging.”
Indonesia, Malaysia and Singapore have concluded a joint technical arrangement with the International Maritime Organisation (IMO) for a trust fund that supports co-operation among stakeholders in enhancing safety and marine environment protection in the Straits of Malacca and Singapore.
With an initial contribution of US$1 million from Greece, the fund advances a UN Convention on the Law of the Sea (UNCLOS) provision for international co-operation in maintaining the straits for international navigation since the establishment of the historic Co-operative Mechanism in 2007.
The agremment was signed by the heads of the maritime administrations of the three Southeast Asian countries and the director of Maritime Safety Division of the IMO during the recent 2nd Co-operative Forum hosted by Singapore.
Singapore’s Transport Minister and Second Minister for Foreign Affairs, Raymond Lim, said: “The Straits remains one of the busiest and most important shipping lanes in the world. I am heartened by the collective interest and commitment of coastal and user States to work together to ensure that the Straits of Malacca and Singapore remain safe and open to shipping.”
He praised the progress made by the Co-operative Mechanism, but highlighted the challenge to sustain interest and encourage participation and contributions from existing as well as new stakeholders.
He stressed that this was critical “as a third of the world's trade and half of its oil passed through the Straits.”
He said: “The Co-operative Mechanism is timely to promote and facilitate international cooperation in this important waterway and that the institutionalisation of the IMO Trust Fund is a very welcome development.”
Mr Lim later presented letters of recognition to the heads of delegations of Australia, China, Greece, India, Japan and the US attending the meeting.
These countries were recognised for their active contributions towards implementing the six initial projects under the Co-operative Mechanism including (i) removal of wrecks in the Straits (ii) enhancing preparedness and response capability against hazardous and noxious substances (HNS) incidents (iii) demonstration trial of AIS class-B transponders (iv) wind, tide and current measurement system (v) replacement and maintenance of navigation aids and (vi) replacement of navigation aids damaged by tsunami off Sumatra.
MPA chief executive Lam Yi Young said that “the co-operation between Straits users and the three littoral states since the establishment of the Co-operative Mechanism has been very encouraging. Going forward, we can expect greater collaboration among Straits stakeholders in ensuring safety and the protection of the marine environment in these important straits used for international navigation.”
The IMO director of Maritime Safety Division (MSD) Koji Sekimizu said: “The fact that the three littoral states have acted in such a timely manner and continue to display a strong determination to move matters forward, thereby building on the momentum established by the IMO-sponsored meetings, to be extremely positive and encouraging.”
EMSA Technical Meeting on use of 0.1% sulphur content fuel
(www.AugustEnergy.biz, October 19, Monday) --- INTERTANKO Bulletin...
EU Directive 2005/33/EC, also known as the EU Sulphur Directive, includes a provision (article 4b) which requires that as from January 1, 2010, when at berth (and/or at anchor) longer than two hours in a EU port, ships utilise 0.1% sulphur content fuel.
Compliance with such a provision would require an evaluation on whether current onboard installations, designed and made to run on residual fuels with regular sulphur content, need any adjustments and eventual upgrades.
Particular concern was expressed by INTERTANKO and OCIMF over the switch from HFO to ultra low sulphur content MGO into the auxiliary boilers of oil tankers. We have reported earlier this year on the various joint INTERTANKO/OCIMF meetings and discussions with the EU Commission and a large number of EU Member States.
It had become apparent for regulators that there is a need for a safety evaluation to be preformed across the industry. Therefore, EMSA called this meeting inviting ship owners, class and engine and boiler manufacturers to attend. The meeting considered a report on the Use of distillate fuels by ships at berth (also called AEA report) which identifies a number of areas of concern and implies there is a need for a safety evaluation since ships are to be required to use such a fuel.
INTERTANKO and OCIMF made a joint intervention to recommend that manufacturers perform risk assessments and provide safe solutions, as and if appropriate. Experience so far indicates that such evaluations and upgrades take quite some time. INTERTANKO and OCIMF asked for a phase-in period up to 1 January 2011 so enough number of tankers and their onboard installations could be safely evaluated and eventually modified.
The boiler manufacturers (Aalborg) and Class (IACS) presentations indicated that there is a need for such evaluations and that the process would take time beyond the deadline of 1 January 2010. It also pointed out that there is no standard to define and thus to check the required "marine fuel with a maximum 0.1% sulphur content". Concerns with regard to too low viscosity and to lack of lubricity were also added.
The EMSA meeting was of a technical nature. The EMSA and DG TREN representatives will prepare a report to the EU Commission, noting the facts as presented and the discussions during this meeting. It will be up to the Commission to assess and eventually suggest any follow-up action.
EU Directive 2005/33/EC, also known as the EU Sulphur Directive, includes a provision (article 4b) which requires that as from January 1, 2010, when at berth (and/or at anchor) longer than two hours in a EU port, ships utilise 0.1% sulphur content fuel.
Compliance with such a provision would require an evaluation on whether current onboard installations, designed and made to run on residual fuels with regular sulphur content, need any adjustments and eventual upgrades.
Particular concern was expressed by INTERTANKO and OCIMF over the switch from HFO to ultra low sulphur content MGO into the auxiliary boilers of oil tankers. We have reported earlier this year on the various joint INTERTANKO/OCIMF meetings and discussions with the EU Commission and a large number of EU Member States.
It had become apparent for regulators that there is a need for a safety evaluation to be preformed across the industry. Therefore, EMSA called this meeting inviting ship owners, class and engine and boiler manufacturers to attend. The meeting considered a report on the Use of distillate fuels by ships at berth (also called AEA report) which identifies a number of areas of concern and implies there is a need for a safety evaluation since ships are to be required to use such a fuel.
INTERTANKO and OCIMF made a joint intervention to recommend that manufacturers perform risk assessments and provide safe solutions, as and if appropriate. Experience so far indicates that such evaluations and upgrades take quite some time. INTERTANKO and OCIMF asked for a phase-in period up to 1 January 2011 so enough number of tankers and their onboard installations could be safely evaluated and eventually modified.
The boiler manufacturers (Aalborg) and Class (IACS) presentations indicated that there is a need for such evaluations and that the process would take time beyond the deadline of 1 January 2010. It also pointed out that there is no standard to define and thus to check the required "marine fuel with a maximum 0.1% sulphur content". Concerns with regard to too low viscosity and to lack of lubricity were also added.
The EMSA meeting was of a technical nature. The EMSA and DG TREN representatives will prepare a report to the EU Commission, noting the facts as presented and the discussions during this meeting. It will be up to the Commission to assess and eventually suggest any follow-up action.
Thursday, October 15, 2009
Speech by Koji Sekimizu at IMO 2nd Co-Operation Forum Meeting
(http://www.AugustEnergy.biz/, October 15, Thursday) --- MPA press release...
(Speech by Director, Msd Mr. Koji Sekimizu, on behalf of The Secretary-General International Maritime Organization, at IMO 2nd C0-Operation Forum Meeting of the Cooperative Mechanism or The Straits of Malacca and Singapore, 14 October 2009, 9.30am at Singapore)
Opening address by
Mr. Koji Sekimizu, Director, MSD on behalf of the Secretary-General
International Maritime Organization
His Excellency, Mr. Raymond Lim,Minister of Transport of Singapore,
Distinguished participants,
Ladies and Gentlemen,
It is a great pleasure for me to be with you here today to address this meeting, on behalf of the Secretary-General of the International Maritime Organization, Mr. Efthimios Mitropoulos, who regrettably could not attend himself, due to previous other commitments.
The importance of the Co-operation Forum cannot be over emphasized. It provides an opportunity for dialogue and open discussion among the littoral states and the users and forms an indispensable component of the Co-operative Mechanism for the Malacca and SingaporeStraits which was established as a main product of the IMO-sponsored meetings held in this region between 2005 and 2007 in co-operation with the Governments of Indonesia, Malaysia and Singapore.
When considering the outcome of the 2007 Singapore Meeting on the Straits of Malacca and Singapore, the IMO Council, at its twenty-fourth extraordinary session in November 2007, agreed that the Organization should contribute to the implementation of the Co-operative Mechanism. It authorized the Secretary-General to provide every assistance possible in attracting sponsors for the projects which will be implemented under the framework of the Co‑operative Mechanism, including promoting financial contributions for the establishment, maintenance, repair and replacement of aids to navigation in the Straits of Malacca and Singapore.
Pursuant to that decision and following the pledge by Greece, at the twenty-fifth regular session of the Assembly, to contribute US$1 million, we have established the IMO Malacca and Singapore Straits Trust Fund under the stewardship of the Secretary-General to support the projects identified by the littoral States.
I would like to stress here again today, that this IMO Fund is not to be perceived as competing with any funds the three littoral States already have established or may establish within the framework of the Co-operative Mechanism. It will, instead, have a complementary role to play. While the initiative for the mobilization of resources for the implementation of the project on aids to navigation in the Straits is left to the littoral States, IMO will support it, as feasible and within the financial limitations of the IMO Fund, while the Secretariat will take action to promote and implement other projects in conjunction with the 3 littoral States. In this context, the Secretary-General had initiated the development of the Joint Technical Arrangement between the littoral States and IMO on co-operation between them and the Organization on safety and environmental protection in the Straits of Malacca and Singapore (JTA), which has now been finalized, thanks to the strenuous efforts by all parties concerned. I am personally very pleased to be able to attend this meeting and join in the signing ceremony for the Joint Technical Arrangement which is expected to take place during this morning’s session on the occasion of the opening of this 2nd Co-operation Forum Meeting.
Ladies and Gentlemen,
I consider the fact that the three littoral States have acted in such a timely manner and continue to display a strong determination to move matters forward, thereby building on the momentum established by the IMO‑sponsored meetings, to be extremely positive and encouraging. The Co‑operative Mechanism is now in full swing. I would like to take this opportunity of expressing sincere appreciation to all involved in the activities of the Co‑operative Mechanism and particularly those who provided significant contributions including: Australia, China, India, Japan, Republicof Korea, the United Arab Emirates, the United States, the Nippon Foundation, MENAS, and the Malacca Straits Council. In accordance with our Council’s decisions, the IMO Secretariat is fully engaged and provides every possible assistance in the implementation of the Co‑operative Mechanism and intends to contribute, through the IMO Fund, to the various projects to facilitate their execution. I am sure we all agree that this excellent progress initiated by the three littoral States, in the establishment and implementation of the Co-operative Mechanism is very commendable indeed and we are all looking forward to further fruitful developments in years to come.
In closing, I would like to reiterate my sincere thanks, on behalf of IMO, to the Government of Singapore for hosting the various meetings this week and for their generous hospitality. I also thank the Governments of Indonesia and Malaysia for their co-operation in preparing for these meetings to ensure their success.
Thank you.
Speech by Lam Yi Young at IMO 2nd Co-Operation Forum 2009
(http://www.AugustEnergy.biz/, October 15, Thursday) --- MPA press release...
Speech by Mr Lam Yi Young, Chief Executive, At 2nd Co-Operation Forum 2009, 14 October 2009, 9.30am
At Grand Copthrone Waterfront Hotel :
At Grand Copthrone Waterfront Hotel :
Mr Raymond Lim Minister for Transport and Second Minister for Foreign Affairs
Mr Sunaryo, Director General, Indonesian Directorate General of Sea Transportation,
Dato’ Captain Ahmad Othman, Director General of Marine, Marine Department Malaysia,
Mr Koji Sekimizu, Director, Maritime Safety Division of the International Maritime Organisation,
Heads of Delegations,
Delegates,
Distinguished guests,
Ladies and gentlemen
A very good morning.
1. On behalf of the Maritime and Port Authority of Singapore, I am pleased to welcome you to the 2nd Cooperation Forum.
2. The Co-operation Forum is one of the three main components of the Co-operative Mechanism framework. It provides a platform for all interested stakeholders – the littoral states, the key user states and other stakeholders of the Straits of Malacca and Singapore – to meet and discuss issues of navigational safety and marine environment protection in the Straits.
3. MPA is honoured to have the privilege of organising this important event this year and we are heartened by your participation here today. It is a clear indication of the importance that you attach to the Straits of Malacca and Singapore, and the value you place on ensuring safety of navigation and protection of marine environment.
4. I am very pleased to note that we have some 140 delegates from 22 countries and 11 organisations attending this event today. Thank you very much for your participation and your support of the Co-operation Forum and the Co-operative Mechanism.
5. I am sure that all of us present here today share a collective interest and commitment in ensuring that the Straits of Malacca and Singapore remain safe, secure and open to all, so that trade that is critical to the world’s economy can carry on uninterrupted and unimpeded. Our presence in this Forum to exchange views and ideas on how to ensure this access amply demonstrates our collective interest and commitment.
6. The Co-operative Mechanism has indeed received strong endorsement and support since its launch in 2007. Representing a historic milestone for the international maritime community when it was launched, the progress made by the Co-operative Mechanism brings into further realisation the spirit of Article 43 of the United Nations Convention on the Law of the Sea or UNCLOS. This Article calls for co-operation amongst userStates and coastal States in the maintenance of straits used for international navigation, of which the Straits of Malacca and Singapore is one.
7. We have a full agenda and our work cut out for us over the next two days. We can expect to receive updates on the key developments in the various Straits projects; such as wreck removal, the maintenance of Aids to Navigation in the Straits, as well as Hazardous and Noxious Substances (HNS) preparedness and response. This is just to name a few.
8. Finally, let me once again welcome all delegates to the 2nd Co-operation Forum and wish you two days of very fruitful discussion. For our friends from overseas, welcome to Singapore. I hope that besides work, you will also find time to enjoy the sights, sounds and taste of Singapore.
9. Thank you.
Mr Sunaryo, Director General, Indonesian Directorate General of Sea Transportation,
Dato’ Captain Ahmad Othman, Director General of Marine, Marine Department Malaysia,
Mr Koji Sekimizu, Director, Maritime Safety Division of the International Maritime Organisation,
Heads of Delegations,
Delegates,
Distinguished guests,
Ladies and gentlemen
A very good morning.
1. On behalf of the Maritime and Port Authority of Singapore, I am pleased to welcome you to the 2nd Cooperation Forum.
2. The Co-operation Forum is one of the three main components of the Co-operative Mechanism framework. It provides a platform for all interested stakeholders – the littoral states, the key user states and other stakeholders of the Straits of Malacca and Singapore – to meet and discuss issues of navigational safety and marine environment protection in the Straits.
3. MPA is honoured to have the privilege of organising this important event this year and we are heartened by your participation here today. It is a clear indication of the importance that you attach to the Straits of Malacca and Singapore, and the value you place on ensuring safety of navigation and protection of marine environment.
4. I am very pleased to note that we have some 140 delegates from 22 countries and 11 organisations attending this event today. Thank you very much for your participation and your support of the Co-operation Forum and the Co-operative Mechanism.
5. I am sure that all of us present here today share a collective interest and commitment in ensuring that the Straits of Malacca and Singapore remain safe, secure and open to all, so that trade that is critical to the world’s economy can carry on uninterrupted and unimpeded. Our presence in this Forum to exchange views and ideas on how to ensure this access amply demonstrates our collective interest and commitment.
6. The Co-operative Mechanism has indeed received strong endorsement and support since its launch in 2007. Representing a historic milestone for the international maritime community when it was launched, the progress made by the Co-operative Mechanism brings into further realisation the spirit of Article 43 of the United Nations Convention on the Law of the Sea or UNCLOS. This Article calls for co-operation amongst userStates and coastal States in the maintenance of straits used for international navigation, of which the Straits of Malacca and Singapore is one.
7. We have a full agenda and our work cut out for us over the next two days. We can expect to receive updates on the key developments in the various Straits projects; such as wreck removal, the maintenance of Aids to Navigation in the Straits, as well as Hazardous and Noxious Substances (HNS) preparedness and response. This is just to name a few.
8. Finally, let me once again welcome all delegates to the 2nd Co-operation Forum and wish you two days of very fruitful discussion. For our friends from overseas, welcome to Singapore. I hope that besides work, you will also find time to enjoy the sights, sounds and taste of Singapore.
9. Thank you.
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