DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2018 – 069

Number 069 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Saturday 10-03-2018 News reports received from readers and Internet News articles copied from various news sites.

The Cremyll ferry EDGECUMBE BELLE undergoing maintenance at the Royal William Yard, Stonehouse, Plymouth on March 6. The ferry links Admiral’s Hard on the Devon shore of the river Tamar with Cremyll on the Cornish side and is said by some to be the oldest continuously-running ferry service in England, dating back to the 11th Century. Photo : Mike Leonard-Williams, Noss Mayo, Plymouth (c)

Make Time For Safety. It Is Better To Be 5 Minutes Late In This Life Than Many Years Early In The Next.

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An empty MSC VIVIANA outbound from Antwerp navigating the Westerschelde Photo : Jaap Janse (c) Mexican federal prosecutors open probe of ferry explosion Mexican federal prosecutors have formally opened their own investigation into an explosion on a tourist ferry last month that injured 26 people. The Federal Prosecutor’s Office says in a Tuesday statement that it is probing the Feb. 21 blast on the Barcos Caribe company’s vessel as it was moored in Playa del Carmen with passengers nearby on the dock.The ferry operated on the route between Playa del Carmen and the resort island of Cozumel. Barcos Caribe has been suspended from operating since shortly after the explosion. Last week, what appeared to be undetonated explosives were found attached beneath another vessel belonging to the same company. Authorities said it was anchored 500 yards (meters) off Cozumel at the time and had not been in service for over 10 months. Source: washingtonpost

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The PROFESSOR KHROMOV in Lytelton Photo : Bryan Shankland (c) Union calls for Northlink ferry services to be nationalised by Alistair Munro Union bosses will also be making the case for public ownership of the inter-island ferry service, currently operated by Shetland Islands Council.

Northlink’s HAMNAVOE Photo : Jan van Vuuren (c) The Scottish ferries union RMT will be holding a public meeting on Shetland calling for the nationalisation of Serco Northlink’s lifeline ferry services. Union bosses will also be making the case for public ownership of the inter-island ferry service, currently operated by Shetland Islands Council Transport operators and seafood bodies in Shetland have, however, cautioned against the service going ‘in-house’. The Scottish Government will shortly decide whether they will put the next contract for Northern Isles Ferry Services (NIFS) out to tender and RMT regional organiser Gordon Martin will put the case for public ownership. He claims contract holders Serco have overseen a decline in performance, passenger numbers and freight movements while receiving a significantly higher subsidy compared to the previous operator RMT also believes the NIFS contract should be re-drawn by Transport Scotland to include inter-island services. Serco claims they have seen an 8% increase in passengers since the start of the contract in 2012. Northern Isles Ferry Services serve the people, staff and businesses of Shetland, Orkney and the

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mainland. In 2016, the fleet of five vessels carried over 300,000 passengers and over 60,000 vehicles on three routes. Mick Cash, RMT General Secretary said: “RMT members are proud to deliver this lifeline ferry service for local communities and visitors. “Rather than subsidise privateers for a worsening service , however, these lifeline ferries need to be brought into public ownership so they operate in the best interests of the people who use them.” However, Ruth Henderson, chief executive of Seafood Shetland, said: “Support for such a move will certainly not be found from the Shetland seafood sector or, indeed, any of the industry’s hauliers. “It is in the best interests of a private operator to run the service as efficiently as possible, communicate with its key stakeholders, and provide the best service at the most cost-efficient price. “The seafood industry and our transport operators believe the current tendering process has given industry and stakeholders the opportunity to reflect and feed into the changing needs of the islands.” A Serco spokesman said: “Serco NorthLink Ferries is a valued partner of the Scottish Government and the communities that it serves and we are very proud of the life line service that we provide to the people and businesses of the Shetland and Orkney Isles. “Since Serco took on the service in 2012 we have carried a total of 1.5million passengers, an 8% increase since the start of the contract, as well as 20% more vehicles. “We have made significant improvements to both the vessels and the on board offering and 99% of our passengers rated their overall experience as positive, which we are delighted about.” Source : pressandjournal.

Shipping needs to appreciate emergency role of tugs by Martyn Wingrove Editor Martyn Wingrove highlights that shipping needs salvage tugs to keep key waterways open after maritime accidents and ship blockages There have been a number of ship accidents so far this year that have demonstrated the essential work that tugs perform in emergencies and salvage projects. I have lamented a number of times on this subject and have highlighted the tough role that tugboat crews play in preventing incidents from becoming major life-threatening environmental disasters. This is still the case and we will hear more on this next week as members of the International Salvage Union meet in London and emergency response technology is presented at the Interspill exhibition, also in the UK’s capital. What I would like to highlight is how tugs keep key shipping lanes open even when there is a maritime incident. For example on 3 March a fleet of tugs were urgently deployed on the Elbe River near Hamburg where an 11,000 TEU container ship was blocking the seaway. A propulsion failure caused 2008-built EUGEN MAERSK to remain static on the Elbe for three hours. The tugs were used to secure the 171,542 gt E-class container ship during repairs. Once EUGEN MAERSK was back on its way to Antwerp, Belgium, the seaway was re-opened and shipping trade could resume.

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In another example, tugs were needed to handle a damaged container ship in the Kiel Canal, also in Germany. Salvage company Schramm worked with shipping company Peter Döhle to manoeuvre damaged 2004-built ship AKACIA, which had severely damaged a key lock on the canal. Tugs Wolf and Holtenau were able to handle Akacia off the damaged Great Northern Lock and to a dock for surveys and repairs. This unblocked this key shipping throughway to other vessels that were stopped from entering the canal during the incident. However, Akacia had almost destroyed the Great Northern Lock and millions of euros are needed for its repair. What both these examples demonstrate is the essential role that tugs have in maritime industries and particular shipping in keeping major shipping lanes open. There are other examples every week of tugs towing stranded ships to safe ports and removing navigational obstacles. Therefore, shipping should remember the important work of tugboat crews and ensure they are appreciated and supported. I am sure we will hear from tug owners next week whether they feel that appreciation and industry support. Source : .tugtechnologyandbusiness

TERASEA OSPREY anchored at Cape Town, final preparations before commencement of the next towing job. Photo : Capt Serge Prakhov - Master of Terasea Osprey (c) New Cruise Lines Eye Second-Hand Ships A number of potential start-up cruise line projects are pounding the ground this week in Florida and abroad, looking for financing and the opportunity to pick from a limited selection of second-hand cruise ships.

Russian Far East Program:

The Far Eastern Federal District in Russia is working with key parties to establish a one-ship cruise line that would homeport in Vladivostok, operating itineraries to Sakhalin Island and the Kamchatka peninsula and south to neighboring countries.

Korea:

South Korea’s Oceans and Fisheries Ministry earmarked financial incentives in 2017 to help drive cruise tourism in South Korea, and is also hoping to help finance a cruise operation which would sail from South Korean ports.

Late last year, the GLORY SEA was chartered to the Golden Bridge Cruise Company, a Korean tour operator, to sail a series of cruises from Sokcho.

Cartoon Network:

Cartoon Network came together with key industry players to announce an ambitious plan to offer sailings on a Cartoon Network branded ship later this year from Singapore. Further details have not been released.

Storylines:

Storyines said it would turn “well-loved” commercial cruise ships into residential communities at sea. The UK-based outfit has renderings of interiors on its website, as well photos of the 1964-built MARCO POLO .

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Cruise Retirement:

Said to be launching later this year, Cruise Retirement “provides an alternative lifestyle choice to people of the 50+ age group that would like to travel extensively.” The company has renderings and photos of the ex-Delphin on its website, which is currently laid up in Eastern Europe.

South America:

Alteza Cruises couldn’t make its South America start-up happen, also hoping to charter the ex-Delphin. Now rumors suggest a new group has formed with a similar business plan, with news coming soon. Source:.cruiseindustrynews

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The SAN CLEMENTE arriving in Rotterdam-Europoort Photo : Patrick Deenik © Bibby Offshore announces contract of CSV Normand Clipper Bibby Offshore Limited and Solstad Farstad ASA (SOFF) have entered into a contract for the CSV NORMAND CLIPPER for operations in the North Sea. The seasonal flexible contract is for 2018 but with options for Bibby Offshore to extend this for 2019 and 2020. The charter commences at the end of March/early April. “SolstadFarstad is excited to once again be awarded a vessel Contract with Bibby to support their operations in the North Sea and we are pleased to note that the subsea activity in the region is improving,” says Hans Knut Skår, EVP– Subsea Constructions & Renewable of Solstad Farstad ASA. Bibby Offshore’s Chief Executive, Howard Woodcock added: “We are delighted to have secured this charter with Solstad Farstad for the Normand Clipper. She will be a very welcome addition to our fleet and provides us with a high quality vessel with a proven track record of offshore construction work in the North Sea.” For more information, please visit: http://www.bibbyoffshore.com Havila Shipping ASA: Sale of none core vessels

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The HAVILA FAVOUR operating in Brazil Photo : Capt Jan Plug (c) Havila Shipping ASA has entered into agreements for sale of the PSV vessels HAVILA FAITH and HAVILA FAVOUR. The vessels are expected to be delivered to new owner within short time. Following the sale it is expected that the lenders and Havila Holding AS will exercise warrants through debt conversions into new shares corresponding to agreements decided by the General Meeting on 4(th) January 2017. It is expected that number of shares will increase by approximately 3,190,000 up to approximately 22,098,000 shares following the sale. The sale will have low impact on result and liquidity. The equity effect of the planned debt conversion was booked in the group accounts through the restructuring on the 28(th) February 2017 and the sale will cause minor equity adjustments. Detailed message will be sent as soon as the sale processes are finalized and warrant exercise notices have been received. Source : euroinvestor Offshore rebound questionable By:Dr. William J. Pike

Despite oil and gas majors Chevron, Shell, BP and Total all announcing major deepwater discoveries in the North Sea and the Gulf of Mexico, the offshore market, particularly in the U.S. Gulf, is still on life support. Two recent trends support this conclusion. Left : The OCEAN CONFIDENCE in Las Palmas Photo : Alan Soutar (c)

The first is the recent round of mergers and acquisitions in the offshore service sector. The January merger of Technip and FMC to create one of the world’s largest service companies leads the list. Doug Pferdehirt, CEO of TechnipFMC, explained why a merger made sense in the current environment. “With our merger complete, TechnipFMC is uniquely positioned to unlock possibilities for our clients to transform their project economics,” he said in a statement. In other words, we can do it cheaper. The merger was part of a large group of deals in the oil and gas industry in the first half of 2017, totalling $137 billion. Activity in the second half of 2017 fell off dramatically. Total M&A activity was $158 billion for the year, still the strongest since 2014. The combination of upstream companies has continued in 2018. In late February, Schlumberger announced plans to form a joint venture with the UK’s Subsea 7 to enhance its presence in the offshore engineering and construction sectors. The long-suffering offshore drilling sector continues to be particularly susceptible to M&A activity. Last fall, Ensco acquired Atwood Oceanics for $850 million. In January, Transocean completed its acquisition of Norway’s Songa Offshore for an estimated $1.1 billion. In February, Norway’s Borr Drilling announced the planned acquisition of Houston-based Paragon Offshore for $232.5 million. The average age of

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Paragon’s fleet of 32 jackup rigs is 38 years and significant scrapping of its older jackups is likely. The second ominous trend for the U.S. Gulf is the continuing, bipartisan opposition in certain coastal states to offshore oil and gas development. Despite President Trump’s plans to open these areas to offshore drilling and production, it will most likely not occur anytime soon. Source : Workboat

The high speed ferry BORAQ seen departing Tangiers on route to Gibraltar. Photo : David A. Bowley, Hull Inspector. ©

Total closes Maersk Oil acquisition, becomes second-largest operator in North Sea Total announces the closing of the Maersk Oil acquisition signed on Aug. 21, 2017. It brings to Total around 1 Bboe of 2P/2C reserves and resources, mainly in the OECD countries, and a production of about 160,000 boed in 2018, ramping up to more than 200,000 boed by the early 2020s. The acquisition of Maersk Oil allows the Group to reinforce its existing leading positions in the U.K. and in Norway, as well as to enter Denmark, making Total the second-largest operator in the North Sea with an output of 500,000 boed by 2020. “This major acquisition is a success on many levels,” said Patrick Pouyanné, Chairman and CEO of Total. “First, it illustrates our strategy to build on our strengths and grow our presence in Total’s core areas, like the North Sea, to strengthen our leadership there. Second, it brings high-quality and low-breakeven assets, enhancing our worldwide portfolio. Third, the strong overlap between Maersk Oil and the Group’s assets will generate more than $400 million of synergies per year.” “We are committed to preserve and further develop Maersk Oil’s heritage by relying on the strong competencies of its teams. Our regional hub for North Sea activities is now headquartered in Copenhagen. Moreover, we welcome a major new shareholder — A.P. Moller-Maersk — which will hold 3.70% of the Group’s capital,” he added. The transaction also strengthens other growth areas of Total, in particular in Algeria and in the Gulf of Mexico in the United States.

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It is immediately accretive to both cashflow per share and earnings per share. The effective date of the transaction is the 8th of March 2018. Under the agreed terms, A.P. Moller-Maersk will receive a consideration of $4.95 billion in Total shares (around 97.5 million shares based on average share price of the 20 business days prior the signing date of the Aug. 21, 2017) and Total will assume $2.5 billion of Maersk Oil’s debt. Source : worldoil One fatality and four missing following fire on a Maersk ship By : David Reid The Danish shipping firm Moller-Maersk has confirmed that at least one man is dead and four more missing after a fire broke out aboard its MAERSK HONAM shipThe vessel was headed towards Suez from Singapore when it first reported the fire Tuesday. The vessel is reportedly currently positioned around 900 nautical miles southeast of Oman in the Arabian Sea. Maersk, the largest container shipping firm in the world, confirmed that a Thai national passed away Wednesday afternoon because of injuries sustained in connection with the fire. The firm also said the nationalities of the four missing crew members, are two Filipinos, one South African and one Indian. The remaining 22 crew members were evacuated to a nearby vessel, along with the now deceased man, on Tuesday evening. Soren Toft, chief operating officer of Moller-Maersk, said Thursday that the hope of finding the missing four men is fading. "We are in contact with their families and they know that tragically, the time passed decreases the likelihood of finding their loved ones alive. Our thoughts and prayers go to them," he said . The Danish firm said the cause of the fire remained unknown. Source : CNBC

The ALUCIA 2 inbound for Schiedam passing Maassluis Photo : Reinier vd Wetering / skyphotomaassluis © Aker BP has received consent to perform manned underwater operations (MUO) in 2018. The underwater operations will be undertaken by Aker BP's contractor, Subsea 7. The application applies to the Alvheim, Ula and Valhall fields.The underwater operations will be carried out by the diving vessels DSV SEVEN FALCON, DSV SEVEN ATLANTIC and LDC SEVEN SPRAY. Schedule start-up is in Q3 or Q4 of 2018. The activities will last around 19 days The Alvheim field has been developed using a floating production, storage and offloading Distribution : daily to 38.700+ active addresses 10-03-2018 Page 9 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2018 – 069

(FPSO) unit. The field includes three discoveries: Boa, East Kameleon and Kneler. These have been developed using individual subsea facilities tied back to the Alvheim FPSO. Ula is an oil field is in the southern part of the Norwegian sector of the North Sea. Water depth in the area is approximately 70 metres. The development consists of three conventional steel facilities for production, drilling and accommodation, which are linked by bridges. Valhall is an oil field in the southern North Sea in 70 metres of water. The field was originally developed with an accommodation facility, a drilling facility and a production facility. In 1996, a wellhead facility (Valhall WP) was installed, with slots for 19 extra wells. For more information, please visit: http://www.ptil.no

The WES AMELIE outbound from Rotterdam passing Vlaardingen Photo : Piet Sinke © CLICK at the Photo !

Former Petrobras CEO sentenced to 11 years in jail 11 years in prison as part of sprawling corruption investigation that has ensnared many of the country’s top business and political leaders. Federal Judge Sergio Moro found Aldemir Bendine guilty Wednesday of corruption and money laundering in connection with about $1 million in bribes paid by construction giant Odebrecht. Moro said Bendine used his influence to illegally help the builder between 2014 and 2017. He was arrested in July and is the only ex-Petrobras CEO implicated in the so- called “Car Wash” investigation. Bendine was named head of Brazil’s second largest bank, Banco do Brasil, in 2009 by then- President Luiz Inacio Lula da Silva. Six years later, President Dilma Rousseff made him CEO of Petrobras. Source : Seattletimes

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Converted PSV returns to service as walk-to-work ship by David Foxwell

The KASTEELBORG moored in Den Helder Photo : Geert Woord © Kasteelborg is the second of two walk-to-work vessels that NAM/Shell have contracted from Wagenborg The vessel, KASTEELBORG was converted from a standard Ulstein PX121 platform supply vessel (PSV, the former Blue Queen) into a specialised walk-to-work vessel, at the Royal Niestern Sander shipyard. KASTEELBORG will support offshore activity in the southern North Sea under a six-year contract with NAM and Shell UK Exploration & Production. The vessel will also provide emergency response and rescue vessel (ERRV) services. In 2017 Wagenborg and Ulstein signed an agreement for the delivery of the PX121 PSV. It also signed an agreement with Royal Niestern Sander to convert the PSV into a walk-to- work/ERRV vessel. The PX121 was equipped with an additional accommodation module, motion compensated gangway and motion compensated crane, to comply with the requirements of NAM-Shell. Wagenborg already has one vessel of this type, KROONBORG, also working for NAM/Shell.source : offshore support journal

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The COSCO SHIPPING TAURUS moored at the Euromaxterminal, in Rotterdam-Europoort Photo : Frans de Lijster (c) CMV goes to six ships with Pacific Eden acquisition The new ship will be deployed and dedicated to both the German and Australasian cruise markets

The PACIFIC EDEN Photo : Dale E.Crisp (c) The Cruise & Maritime Voyages Travel & Leisure Group has acquired PACIFIC EDEN from P&O Cruises Australia. The price was not disclosed. The ship is scheduled for delivery to CMV in Singapore in early April 2019, followed by a short docking period to include livery change, re-brand and some preparatory works before it repositions to Northern Europe via the Suez on an inaugural voyage. The new ship will be deployed and dedicated to both the German and Australasian cruise markets. During the northern summer (May-October) the ship will operate under CMV’s German brand, TransOcean Kreuzfahrten, homeporting from both Bremerhaven and Kiel, and during the Australian summer season (December-March) from Fremantle (Perth) and Adelaide, offering a more traditional scenic cruise experience. CMV’s UK, North American and wider global markets will also be marketing the voyages between Europe and the Antipodes and the wider Australian season. Continuing the explorer theme, four distinguished explorers have been shortlisted for the ship’s new name and the travel trade and Columbus Club Members will be invited to cast their vote. The shortlist includes Vasco da Gama, Pytheas, Henry Hudson and Amerigo Vespucci. The selected name is to be announced March 20. The 55,820gt ship was originally launched in 1994 by Holland America Line as STATENDAM. It will carry 1,150 passengers in 630 cabins, including 100 solo rooms and 149 balcony suites and cabins, for an 80% ocean-view ratio). 'This stylish traditional vessel is ideally suited to our business model and is in very good shape following a multimillion-dollar refurbishment in 2016,' CMV CEO and chairman Christian Verhounig said. 'As part of our mid-term growth plans, the ship will provide the requirement level of extra capacity needed in Australia and Germany as we continue to grow our international business.' Chris Coates, group commercial director, added: 'Pacific Eden is an excellent addition to our fleet and the strategic development of the group’s presence in the German and Australian markets will increase overall capacity to just below 150,000 ocean cruise passengers in 2019.' The summer 2019 Germany-based program for the new ship will go on sale after the Easter holidays in mid-April, with the release of a special launch edition brochure. The Australian summer 2019/20 season will be released during late 2018. Dean Brazier, managing director of CMV Australia, said Astor has been an 'enormously successful and very popular cruise product in Australia and the new ship will significantly broaden our distribution base and raise our profile, and the capacity increase will help to service growing demand.' Klaus Ebner, head of marketing and sales at TransOcean Kreuzfahrten, welcomed the chance to significantly increase capacity with 'this fine new ship and her wide range of facilities.' The new addition will operate alongside CMV’s flagship, COLUMBUS (1,400 passengers), MAGELLAN (1,300 passengers), MARCO POLO (800 passengers), ASTOR (600 passengers) and ASTORIA (550 passengers). Source: seatrade-cruise

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the VICKI M McALLISTER returning to her base in Port Everglades, Fort Lauderdale. Photo : Bas van Hoorn (c) ABB Wins Total Solution For Polar Newbuild ABB will deliver a comprehensive scope of power, automation, propulsion and digital solutions for the new Lindblad Expeditions Holdings, Inc. vessel that will take passengers on exploration cruises in remote polar areas. Designed with a focus on safety, environmental sustainability and comfort, this ice-going vessel will be equipped with ABB’s power and automation solutions, as well as two Azipod DO propulsion units. ABB is the only supplier of azimuthing electric podded propulsor systems of sufficiently high ice-going class able to meet the owner’s requirements. The polar explorer is designed by Ulstein Design & Solutions and will be constructed by the Norwegian yard Ulstein Verft. The vessel will be delivered in the first quarter of 2020 The vessel, dubbed “the world’s foremost expedition ship”, will let passengers connect with the outside environment through specially designed observation areas, as well as allow easy access to off-ship exploring. It will feature 69 guest cabins and onboard facilities fit for the most demanding travelers. “We are excited to partner with ABB to help build our blue water vessel, one of the most technologically advanced expedition vessels in the industry,” said Nikolaos G Doulis, Senior Vice President, New Buildings, Lindblad Expeditions. “Our selection of ABB is based on our experience of them as a reliable, innovative partner. ABB Azipod propulsion offers major safety benefits for our vessel with exceptional fuel consumption, high performance in demanding ice conditions, and remarkably improved onboard comfort.” “The emergence of a distinct market for expedition cruise ships bound for polar waters plays into two areas of ABB expertise,” said Juha Koskela, Managing Director, ABB Marine & Ports. “Electrical solutions are more reliable, efficient and environmentally responsible than their mechanical counterparts, as well as better aligned with digitalization. Similarly, Azipod propulsion achieves greater maneuverability and improves passenger and crew comfort on board, while its gearless construction reduces environmental risk.” In addition to enabling the vessel to navigate through sea ice and meet regulations for operating in Arctic and Antarctic waters, Azipod DO units require 25% less installed power than propulsors of equivalent performance ABB Ability System 800xA will further improve efficiency and safety of the polar newbuild. It integrates power, propulsion and vessel management systems into one platform, enabling both crew

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and onshore teams to get a comprehensive overview of all the information needed to operate the vessel in the optimal way. All control and monitoring applications have a uniform look and feel, allowing for a more intuitive user experience. Leveraging ABB Ability™ Collaborative Operations, the vessel will be connected to ABB’s Collaborative Operations Center infrastructure, which monitors the performance of ABB technology on board and remotely connects operators with ABB experts. This can be particularly crucial for vessels operating in remote areas. Ulstein holds options to build two additional ships for Lindblad Expeditions Holdings, Inc. to the same design. “We are very aware of plans to build luxury ships with sufficient ice-breaking strength to follow the course set by the great polar explorers,” said Juha Koskela, Managing Director, ABB Marine & Ports. “We are also aware that these most adventurous of owners are already planning to choose hybrid electric propulsion and integrated solutions that enable an increasing level of automation.” Just as vital to the support of the expanding expedition cruise market will be ABB’s unfolding “Electric. Digital. Connected.” strategy, part of which is focused on seven land-based centers coordinating remote equipment analysis, monitoring and diagnostics, and predictive maintenance services. ABB estimates that the approach reduces on-call vessel visits of service engineers by up to 70%, while docking costs can be cut by up to 50%. Source : Marinelink Boek In Veilige Haven uitgereikt uitgereikt aan Edze Knol Afgelopen woensdag werd het eerste exemplaar van het boek In Veilige haven door schrijver Michiel Scholtes uitgereikt aan Edze Knol, schipper van KNRM Eemshaven en een van de geïnterviewde schippers in het boek. Uit heel Nederland waren er KNRM-schippers gekomen om bij de boekpresentatie aanwezig te zijn. Auteur Michiel Scholtes, die de rubriek al sinds 2009 schrijft in de het blad De Reddingboot, heeft zijn stukken uitgebreid en gebundeld in het boek dat voorzien werd van vele beelden uit het archief van de KNRM en aangevuld met de prachtige platen van Flying Focus. Meer informatie over het boek: https://www.knrm.nl/nieuws/boek-in-veilige-haven

More newbuildings contracted despite fears of additional market pressure The “mantra” of 2018 has been calling for prudence from the part of ship owners, if a freight market rebound is to materialize in the tanker market, not to mention the danger looming for the sustainability of the dry bulk segment as well. Still, newbuilding contracting activity has been quite firm. Over the course of the past week, Allied Shipbroking commented that “the newbuilding market felt an uptick in activity this past week, despite the continuing sluggish mode that has been noted in the market lately. This coincided with the rebound in volume noted from the tanker sector, which countered the overall feel this market has been giving off lately. Seeing once again movement, has helped build up positive sentiment, however, this boost is embraced with

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hesitation by many market participants. Given the volatility of the market, it is not surprising that many are questioning these latest orders, with fears mounting as to the added pressure these new vessels may well bring come their delivery date. On the other hand, new ordering in the dry bulk market continues to remain slow, indicating that flow from that side is losing stability and becoming subject to periodical pressure or to potential opportunities that may arise. Given their more robust fundamentals, it has been surprising to see that so few have flocked to take up this ordering option window, especially when noting the significant upward pressure being seen on prices right now”, said Allied. In a separate shipbuilding report this week, Clarkson Platou Hellas said that “in Tankers, Daewoo Shipbuilding & Marine Engineering (DSME) have announced signing a contract for three firm 300,000 DWT VLCCs with an unknown owner. The vessels are set for delivery within 1H 2020 from Okpo. DSME have announced winning a further order for two firm 300,000 DWT VLCCs from an unknown European owner. These two units will also deliver within 1H 2020. DSME have also announced a contract for two firm 174,000 CBM LNG Carriers for delivery in 3Q 2020 – similarly the buyer’s identity remains undisclosed. In the small sizes, Jinling Shipyard have received an order for one firm 6,500 CBM LPG/Ehylene Carrier from domestic owner Nanjing Yangyang Chemical Transport for delivery in 1Q 2020”, the shipbroker said.Meanwhile, in the S&P market this past week, shipowners’ appetite for additional dry bulk tonnage was unabated. In its report, Allied said that “on the dry bulk side, the temporary pause came as quick as it appeared, with a exacerbated rush for deal conclusion being seen after the end of the Chinese New Year. It looks as though the situation in the freight market added significant confidence amongst buyers, while it now seems as though we may well see some increased competition emerging amongst buyers. With an extra boost from the freight market one could see how this could easily heat up the market relatively quickly, while we are likely to see most of this force focused on the more modern tonnage this time around. On the tanker side, things went back down to “quiet”, with a minimal level of vessels changing hand this week. It seems as though the recent trough in the freight market has caused many to take yet again a “wait and see” strategy, while there are still many that feel that sentiment is clouded in considerable uncertainty for now, giving mixed views amongst both buyers and sellers”, Allied Shipbroking said.In a note this week, VesselsValue said that bulkers’ values have remained mostly stable, but with a slight firming in older panamax tonnage. “Panamax SEA ACE (81,800 DWT, Sept 2012, Longxue) sold for USD 18.5 mill, VV value USD 17.32 mill. Ultramax BW DURUM (61,500 DWT, Sept 2016, Dalian COSCO) sold to Navigare for USD 25 mill, including a charter for 1 year at USD 12,000 pd. VV value 23.61 mill. Supramax DARYUA VISHNU (56,100 DWT, Jul 2006, Mitsui Tamano) sold to Polforce Shipping for USD 12.8 mill. VV value 12.23 mill. Supramax POLESTAR (53,500 DWT, Feb 2006, Imabari) sold at auction for USD 9.3 mill to Pingtan Minghui. VV value 11.36 million” said VV. Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide

The DOVER SEAWAYS navigating the English Channel Photo : Jan van Vuuren © Shipping into a changing world The International Shipping Industry still remains the only way to move the majority of minerals, energy products and manufactured goods between the nations of the world. Indeed it is still estimated that shipping carries 90% of World Physical Trade. However given the huge changes that have occurred in many countries there is concern that the demand for shipping services may not grow but in fact decline. As the various conferences that meet annually at this time of year discuss the economics and operational issues of the shipping industry it is concerning that the shipping companies that are publically traded in a few stock markets represent the worst performing sector in those markets. Furthermore the banks that have historically financed shipping have mostly withdrawn and a few of the remaining German banks are showing billions of dollars of losses and

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provisions. Private equity and hedge funds looking to buy these banks are not showing support for shipping but the ability to liquidate the portfolios over the next few years at a profit. Meanwhile the biggest financiers of shipping today are the huge Chinese Leasing companies which together with the Chinese and Korean Exim banks are financing new ships being built in China and Korea with the objective of keeping freight rates down for the benefit of Chinese and Korean industries that rely on ships for the import of raw materials and export of manufactured goods. The arrival of the speculative equity and hedge funds at the beginning of this decade changed the way shipping companies had traditionally operated, namely as the service industry to world trade. The security of longterm time charters with major cargo interests whose own credit standing supported the cash flow was discarded in favor of the spot markets enabling the ships to be sold as soon as their values generated a profit. The longer this speculative period went so the cash flow problems worsened as the spot markets failed to produce constant income while the operating and financing costs continued. Furthermore the major charterers became reluctant to charter these speculative ships or allow their charters to be included in any sale. This was clear evidence of the importance of the relationships between shipowners and charterers which have always been important given the issues that always exist in operating ships in the oceans of the world. Shipowners and particularly those that appeared in the equity markets, were encouraged to order new ships in the false belief that the Chinese would continue to pay high freight rates as their manufacturing economy continued to expand. It took some 5 years for the cargo interests to react to the high freight rates which for instance had caused the shipping cost of a ton of iron ore from Brazil to China to reach 60% of the landed price of the cargo. The cargo interests understood that by encouraging more newbuildings in both the raw material imports and the finished goods so the freight costs could be minimized. Thus the Chinese have got the shipping cost of iron ore from Brazil down to 10% of the landed price. Add to this the Korean and Chinese Exim bank financing and the involvement of huge Chinese leasing companies and we continue to see the orderbook grow while few shipowners show any profits. False optimism that “dry bulk markets look positive” or that “the USA exporting crude oil will be good for the VLCC markets” simply encourage new orders for ships and will not improve the operating profits for these sectors. Thus it is the cargo interests that control the economics of the shipping industry today and ship values will continue to depreciate if they continue to trade in the spot markets. Consolidation of shipping companies will have no effect unless it enables the shipowners to secure period charters and improve their income streams, fully maintain the ships, employ quality crews and afford the new costs of ballast water treatment and cleaning up the engine exhausts. Source: Paul Slater, First International Corp.

PSV DINA SCOUT in icy waters in the seaport of Den Helder, the Netherlands. Photo: Paul Schaap (c) NAVY NEWS Navy Starts Under-Ice Submarine Exercise off Alaska's Coast The U.S. Navy has kicked off its every other year testing and training of submarines under sea ice off Alaska's north coast.

The U.S. Navy has begun five weeks of submarine training and testing off Alaska's north coast that will include breaching the massive underwater vessels through Arctic sea ice. The exercises, which also include the collection of scientific data, are

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dubbed Ice Exercise 2018, or ICEX18, and are scheduled every other year. Rear Adm. James Pitts, commander of the Undersea Warfare Development Center, said in an announcement that the Navy builds experience with every ICEX. "We are constantly testing new tactics, techniques and procedures under the ice and this exercise allows us to do so on a larger scale and alongside our U.K., joint and academic partners," he said. Two U.S. and one British submarine will participate. The cost is estimated at $8.3 million, said Navy spokesman Corey Barker, but final figures for travel, contracts and other expenses will not be known until after the exercise. The Navy will set up a temporary camp on ice in the Beaufort Sea about 150 to 175 miles (242 to 282 kilometers) miles north of Prudhoe Bay, Alaska. Barker said gear for the camp started coming in over the weekend by air drop. The camp will have portable tents that can house and support more than 50 people and will serve as a temporary command center for under-ice navigation, torpedo exercises and research. The Navy named the camp Ice Camp Skate in honor of the USS SKATE, the first submarine to surface through open-water surrounded by ice in 1958 and the first submarine to surface through ice at the North Pole in March 1959. The U.S. submarines participating are the Seawolf-class fast attack submarine USS CONNECTICUT from Bangor, Washington, and the Los Angeles-class fast attack submarine USS HARTFORD from Groton, Connecticut. The British Royal Navy's Trafalgar-class submarine HMS TRENCHANT also will be on hand. The The exercise required approval for possible unintentional disruptions to marine mammal activities such as feeding, nursing and breeding. In its application to the National Marine Fisheries Service, the Navy said it will install portable tracking equipment for submarine training and testing near the ice camp. As part of the exercises, eight hydrophones that detect sound waves under water will be lowered on cables from sea ice to 98 feet (30 meters). The last Arctic exercise by the U.S. Submarine Force was conducted in 2016. A crack in sea ice through the command center camp forced its early evacuation. Indonesia and the UK investigate looting of sunken warships The British government has confirmed that it is in talks with Indonesian authorities over the disappearance of six British and Dutch warships sunk in 194 British diplomats met with Indonesia’s maritime ministry in Jakarta last week to discuss the illegal salvaging of half a dozen allied warships sunk by the Japanese during the Battle of East Java in 1942, and are coordinating a joint investigation with Indonesian authorities into the disturbance of allied war graves, according to the Guardian. The news of the investigation comes just over a month after reports emerged that salvagers were indiscriminately dumping the bodies of allied soldiers found while looting shipwrecks in a mass grave near to Brondong port. Authorities in Indonesia have since excavated three sites, where the human remains are believed to be located. Bones from a mass grave in Suko cemetery close to Brondong are thought to have been taken for forensic testing, the Guardian reported. In the past, DNA testing of bones matched with the DNA of survivors has proved effective in identifying remains. A group of international divers were the first to flag the disappearance of the six allied warships in November 2016, during an expedition to lay a commemorative plaque next to one of the sunken Dutch warships ahead of the 75th anniversary of its sinking. The British, Dutch and US governments issued public statements of condemnation soon after news broke of the vessels’ disappearance. As the final resting place of hundreds of allied soldiers, the wrecks are protected under international law, which recognises them as war graves and property of the flagged nation. Beginning in February 27 1942, the Battle of East Java was one of the worst naval defeats of the Second World War for the allies. Led by Dutch Admiral Karel Doorman, a coalition fleet of American, Dutch, British and Australian warships was destroyed by Japanese torpedoes as it attempted to protect what was then the Dutch colony of East Indies from Japanese invasion. More than 900 Dutch soldiers and 170 British soldiers lost their lives during the crushing defeat. Quite apart from their historical and sentimental significance, the wrecks are sources of valuable scrap metal, which local salvagers have been illegally looting for years. According to the Guardian, roughly $1.3m worth of steel can be recovered from each ship. Recent years have seen as many as 40 Second World War vessels vanish from Southeast Asian waters. source: southeast Asia Globe US destroyer turned abruptly into tanker's path before collision: report Singapore's Transport Ministry said Thursday that the U.S. navy destroyer JOHN S. McCAIN made an abrupt turn into the path of an oil tanker just before the fatal collision between the two vessels last August. The ministry's Transport Safety Investigation Bureau said in the report on the findings of its investigation into the collision between the U.S. navy ship and the Liberian registered oil tanker Alnic MC in the Singapore Strait that the sudden turn by the U.S. destroyer was due to a "series of missteps" by its crew, apparently due to inadequate training. Another contributing factor was only three crew were on duty on the bridge of the Alnic, possibly hampering its ability to quickly take evasive action, the investigation also found. "The safety investigation has determined that the USS John S. McCain made a sudden turn to the Singapore port into the path of Alnic MC because of a series of missteps that took place after propulsion controls were

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transferred," said the report. "Inadequacies in training and familiarization before task allocation may have contributed to the actions on JSM," it said. The crew were "likely to have lacked the requisite knowledge of the steering control system due to inadequacies in training and familiarization," the report said, noting that several sailors with control over steering at the time of the collision were temporarily assigned from another U.S. naval vessel which had steering control systems that were significantly different from the JSM's. The JSM, which belongs to the U.S. Navy 7th fleet, had left its homeport of Yokosuka, Japan last May 26 for a scheduled six-month deployment in the Western Pacific. It was about to make a scheduled call at Singapore's Changi Naval Base when the mishap occurred as it was approaching the Singapore Strait, about 50 nautical miles east of the city-state.The accident resulted in the deaths of 10 sailors from the U.S. navy ship. The report said the trouble started during the transfer of propulsion control, which is responsible for the speed of a vessel, from one control station to another control station on the ship after the ship's chief officer, who noticed that a crew member was struggling to handle both the steering of the vessel and the propulsion at the same time, ordered the propulsion control task be taken over from him. Source : Asian Nikkei review SHIPYARD NEWS

TANJA RICKMERS squeezing into drydock at Astilleros Cernaval-Campamento, with Gibraltar Rock in the background. Photo : Capt René van Quekelberghe Master Iver Ability © Govt opts to save Sungdong, STX through reorganization The South Korean government decided to keep two financially-troubled mid-sized shipbuilders Sungdong Shipbuilding & Marine Engineering Co. and STX Offshore & Shipbuilding Co. afloat by downsizing them. The restructuring outline for the money-losing shipyards would be finalized after a cabinet meeting presided by deputy prime minister and finance minister Kim Dong-yeon on Thursday. Sungdong, whose liquidation value more than triples its going-concern value, will head to bankruptcy court without additional creditors’ relief. But the government will recommend the court to keep the shipyards open for repair and sub- assembly or block-level building tasks. Nearly 4 trillion won ($3.74 billion) worth of bank funds - 2.5 trillion won in loans and 1.5 trillion won debt swap into equity - have gone into Sungdong ever since it entered voluntary creditors’ management in

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2010. State lender Export-Import Bank of Korea extended 2.1 trillion won in loans and converted 1 trillion won worth into equity. STX will be asked to scale down its workforce by 40 percent and keep to small-sized tankers and gas carriers. STX has 16 vessel orders in its backlog, which will keep its dockyards busy until the third quarter of next year. If it can keep up its order flow, creditors will consider additional funding. Source : Pulse

The 1982 built CELESTYAL OLYMPIA former SONG of AMERICA, SONGBIRD, THOMPSON DESTINY and LOUIS OLYMPIA. seen dry docked in Marseilles. Photo: David A. Bowley, Hull Inspector © Vard, two more ships for Ponant Vard Holdings Limited (“VARD”), a Norwegian subsidiary of Fincantieri which is active in the design and construction of more specialised vessels, has signed a contract for the design and construction of two more small luxury cruise ships for the French shipowner PONANT, which is in turn a subsidiary of the Artemis group (the Pinault family holding company), with deliveries expected in the first and second quarters of 2020, respectively. The units will be the sister ships of those ordered in 2016. They will be built by the VARD group’s production network, and will have a length of about 131 metres, a width of 18 metres and a gross tonnage of about 10,000 tonnes. They can reach a top speed of 15 knots, and accommodate 180 passengers (92 cabins all with balconies). They will be built using the most advanced technologies for environmental protection, and due to their small size they will be able to reach ports and destinations that are inaccessible to larger vessels. The interior decoration will be designed “on an intimate, human scale” and with extreme attention to detail. The first ship in the series will be delivered in the first quarter of 2018, followed by delivery of the next three ships in the period from Fall 2018 to Summer 2019. VARD will also deliver an LNG-powered Arctic cruise ship to PONANT in 2021. Fincantieri previously built four units for PONANT, LE BOREAL L’AUSTAL, LE SOLEAL, and LE LYRIAL, which were delivered in 2010, 2011, 2013, and 2015, respectively .source : themeditelegraph

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Albwardy Damen receives Superbrands 2018 award

Albwardy Damen, the joint venture shipyard in Sharjah, UAE, between the Damen Shipyards Group and UAE-based Albwardy Investment, has received a prestigious Superbrands 2018 Award from Superbrands Worldwide, the world’s largest independent arbiter of branding. It pays tribute to the strongest and most valuable brands in the world through its publications and national marketing

programmes. The winners of these awards were selected by the International Arbitration Board of the Award, made up of more than 4,000 marketing experts from the UAE business community.The Hamriyah Free Zone in which Albwardy Damen operates won the Superbrands UAE Award for 2018 for the second time in a row. Based on its recommendations, a number of other companies within the zone including Albwardy Damen also received Superbrand awards.Albwardy Damen received its Superbrands Status and Superbrands Certificatefromthe Superbrands Councilat a grand event held in the Hamriyah Free Zone in early February. The awards ceremony was attended by representatives from Superbrands Middle East, a number of senior officials from the Hamriyah Free Zone Authority (HFZA), and representatives from the companies that operate in the HFZA that had also won awards. Albwardy Damen brings Damen quality and technology to the UAE. The main yard is located in the Hamriyah Free Zone, Sharjah, and offers the highest standards of modern ship construction and repair. Among its many facilities it features a covered build hall, a 5,200 tonne ship lift and eight dry

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berths, each 125 metres in length. In 2017, it opened a new office and workshop facility in Dubai Maritime City to operate alongside its other facilities in Sharjah, Al Jadaf and Fujairah. “We are very honoured to have received this award,” said Lard Seistrup, Managing Director of Albwardy Damen. “Hamriyah Free Zone is recognized across the region as a premier location from which to do business, and it has been a significant factor in our success. We are very grateful to Saud Al Mazrouei, Director of Hamriyah Free Zone Authority, and his team for their support and friendship.” In January 2018, the yard held a naming ceremony for the world’s biggest Rotortug®, the ART 100-46 RT RAVEN. The Infield Support Vessel (ISV) RT RAVEN was built at Albwardy Damen to a Robert Allen design and is a customized, 46 metre, DP2, 100-tonne bollardpull Rotortug® for offshore support. One of the most powerful tugs ever built in the UAE, the vessel is operated by Perth-based KT Maritime Services Australia Pty Ltd. Photo’s RT RAVEN Piet Sinke © CLICK at the photo’s and hyperlinks in text !

The EXPRESS BRAZIL ariving at Damen Shiprepair in Willemstad – Curacao Photo : Kees Bustraan © 500 jobs to go at Devonport Dockyard Affected workers to be consulted with imminently following major announcement

500 jobs are to be axed at Devonport Dockyard as part of a review into the future of its operations, The Herald can reveal. Dockyard operator Babcock International Group plc has announced it flatten its management structure in an effort to become 'more agile and flexible' moving forward. A consultation with affected workers and union officials is to begin imminently so a way forward can be thrashed out. A Babcock spokesman said: "We have been undertaking a review of our operations at Devonport Royal Dockyard over the last 12 months, to ensure that as a business we remain competitive and are well set up to win new work in the future, with the right people, with the right skills in the right place at the right time. "Following an initial phase of restructuring in 2017, we need to continue with the programme to flatten our management structure and reduce by around 500 positions. "By doing this, we will become more agile and flexible to respond to the fast moving and changing environment we work within. "This is a necessary step in sustaining our future business; however we recognise that this is a worrying time for those colleagues who are affected by these changes and our priority is now to work with our trade union representatives and those individuals throughout the coming consultation period. "We remain totally committed to providing a safe and secure environment for our workforce that supports both our current and future operational needs. "We are also firmly focused on delivery for our customer." The Herald understands a memo was circulated by Babcock to dockyard workers earlier this week Source : The Herald Court ruling paves way for liquidation of Skaramangas shipyards An Athens court has approved an appeal by the Greek state and Piraeus Bank to prepare the Skaramangas shipyards for liquidation. As long as there are no objections from the key shareholder Privinvest, which is far from certain, the government will be able to start auctioning the shipyard's assets via an international tender. If such a competition should proceed, Chinese shipping and logistics giant Cosco is expected to join the bidding. The state and Piraeus Bank had appealed for Skaramangas to be prepared for liquidation in 2014, aiming to free the shipyards from operational problems caused by problems with shareholders and from a European Commission demand for Greece to return shipyard subsidies to state coffers. It appears that Greek authorities aim to break the company into two units, one commercial and the other for military shipbuilding. source : ekathimerini

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At Royal IHC the CSD JARASH was launched Photo : Arie Boer © Fincantieri picks up six more orders from Viking Fincantieri and Viking announced that they have reached an agreement for a further six vessels, which would bring the number of ships built under the partnership of the two companies to a total of sixteen, and extends the backlog of orders to 2027. The announcement was made at the Seatrade fair The agreement for the new ships, which will be built at the Ancona shipyard with delivery scheduled for 2024, 2025, 2026 and 2027, is subject to specific conditions. In close partnership with the cruise company, Fincantieri will work up an advanced design, based on the successful characteristics of the previous ships, updated and revisited in line with the latest technologies available on the market. Giuseppe Bono, CEO of Fincantieri, commented: “We are proud to have trusted a start-up which proved highly successful. In 2012, in fact, our partnership with this prestigious ship owner began with two ships and as of today we’re looking at there being 16 units. It’s an all-time record, the highest number of ships from one single shipowner for a shipyard, which makes Viking, already the worldwide first river cruise company, the leader also in the small ship ocean cruise market.” “Furthermore, the agreement confirms the extraordinary amount of demand in this sector. This allows Fincantieri to consolidate its worldwide leadership, enhancing its order book with a workload that will ensure job security for the next 10 years.” Viking’s current ocean fleet comprises ships with all-veranda cabins, a gross tonnage of about 47,800 tons, that can host 930 passengers in 465 staterooms. To date, Fincantieri has delivered four ships to Viking Ocean Cruises. The first of the series, the VIKING STAR, was built at the Marghera shipyard and delivered in March 2015; the following three, the VIKING SEA, VIKING SKY and VIKING SUN, were launched from the Ancona shipyard in March 2016, January 2017 and September 2017, respectively. Source : .themeditelegraph ROUTE, PORTS & SERVICES

Click HERE for the LIVE STREAM WEBCAM in Hoek van Holland Berghaven

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Irish bride left stranded in Holyhead had wedding day saved by ferry giant Stena Line stepped in to help wedding party reach Ireland in the bad weather An Irish bride and groom left stranded in Holyhead after their flights and then ferry sailing were cancelled had their wedding saved when Stena Line stepped in.Aine Kilgannon, her fiancé Heath Bateman and 26 of their friends and family were due to fly to Dublin from Gatwick last Wednesday ahead of the wedding on Saturday. But flights were cancelled thanks to the Beast from the East and the group instead travelled by train from London to Holyhead on Friday. Unfortunately their Irish Ferries sailing at 2.30pm was then also cancelled as the bad conditions continued to hit services. Their last hope was the 2.30am Stena Line service on Saturday morning but with local hotels booked up they were concerned about a 12 hour plus wait in the port ahead of the biggest day of their lives. There as also no guarantee the boat would sail due to the weather.But Stena staff stepped in to help - with port manager Alan Williams approaching the group on arrival after hearing about their predictament.Heath said: "Alan Williams said to us 'we've heard about you!'. "Stena Lines then offered us the option to get on the ferry with complimentary cabins so we could freshen up and try get some sleep while we were waiting for a break in the weather."All the staff knew our story and did everything they could to fill us with hope. "Captain John Hamberley Jones personally came down to tell we would get out. "Although we were delayed from the 2am Saturday departure, we eventually had the engines power up at 8am Saturday. "From there hope truly had felt like it was creeping back. "Three and a bit hours later we were on Dublin and our journey could continue to Kilronan Castle in Roscommon." They finally made it to Kilronan Castle at 3.15pm on Saturday and Aine walked up the aisle at 6pm. Aine added: "We couldn't thank Stena Line enough for what they did, they were so helpful and friendly which truly kept our spirits up." KUDOS FOR THE STENA LINE STAFF IN HOLYHEAD AND CAPT JONES AND HIS CREW ! Demolition Prices Lure More Shipowners In, But Not Dry Bulk Ones With the tanker freight market at its weakest state in years, it’s no wonder that more and more ships are candidates for scrapping. In its latest weekly report, Clarkson Platou Hellas commented that “the flow of larger tanker units remains relentless as each week brings new names into the market. Can the amount of such units be absorbed is a big question on everyone’s minds, especially as several cash buyers still hold large tanker units in their hands from previously concluded deals and yet, these vessels remain unsold. The ‘Will it, Won’t it’ long running saga from Pakistan in relation to re-opening for importing tanker units is now becoming onerous and there does appear to be so much speculation from certain cash buyers on the back of indications that the decision is imminent”. again proved unfounded and so the industry continues to wait with abated breath. Even if Pakistan does agree to a return to tanker imports, there is still some uncertainty that price levels will push northwards in an aggressive manner as the market is now so transparent that even on the shores of Pakistan, it is widely known of the large availability of tanker units, both now and for the foreseeable future. Also we feel, as brokers, that it will still need sometime for all parties to digest the new regulations and local custom formalities on arrival of a vessel to the anchorage and that information will not be provided overnight! As all and sundry from the Ship Recycling world (recyclers/breakers, cash buyers, brokers), Ship Owners, Environmental groups amongst other business colleagues congregate in Hamburg next week for the Annual Tradewinds Ship Recycling Conference, perhaps in addition to the usual environmental discussions and ‘spats’ that take place, Pakistan authorities may provide a timely and welcome boost to the industry players during this time. But…let’s wait and see! With all

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industry players gathering in one area, it could help to stimulate the market as has proven to be the case in previous gatherings and return some positive impact on the scene as at present, buyers seem to be singing from different song sheets”. In a separate note, Allied Shipbroking added that “there was a considerable flow of demo units this past week, albeit slightly softer in volume compared to the week prior. This closed off another month, with the recycling market being driven to a considerable extent by the tanker sector, following the same pattern that was being noted at the final part of 2017. As it has already been mentioned many times, the main driver has been the poor freight conditions noted for tanker vessels. However, even with consideration to the parameters above, there is still an increasing level of speculative attitude in the market for the time being. The whole discussion referring to a potential re-opening of Pakistan for tankers has created some turbulence, whereby Cash buyers seem to be in a “hurry” to gather as many units as possible before the market catches up with the increased competition amongst buyers that would follow from a re-opening of Pakistan. Yet, high price levels that aren’t explained by the current markets’ fundamentals, can become an indicator for increased instability, as the price gap with the end buyers widens. Asymmetries and exaggerations of this kind can put the whole demolition market on a more problematic and unpredictable track, leaving many cash buyers at risk”. Meanwhile, GMS, the world’s leading cash buyer said this week, that “the excitement being generated by an imminent Pakistani reopening for tankers coupled with soaring steel plate prices led to an unexpected market lift off this week, particularly in a previously dormant Bangladesh, which started to acquire fresh tanker units at a dizzying rate. This unexpected and sudden buoyancy from Chittagong has been driven by a short and sharp spike in plate prices (something that is not expected to last very long), whilst news of Pakistan’s (expected) reopening for tankers is sure to deprive competing neighbors of some of their regular diet of wet units. Meanwhile, there were several more (privately concluded) VLCC deals this week, taking the total number sold to well over 15 within the first two months of the year. Additional tanker sales in both the Suezmax and Aframax sectors were also reported, in what has been another bumper week of wet sales to add to the extremely busy year witnessed already so far. The Pakistan re-opening for tankers (the order for which has been rumored to be forthcoming some time next week, to include “gas free for hot works” certificates from the last port of call) is set to ease some of the pressure on Bangladesh and India who have been struggling to take in some of these recently bullish tanker sales and Pakistan’s re-opening should boost prices as a result. Holidays have also (slightly) disrupted activity, with the recent conclusion of Chinese New year holidays last week, Holi celebrations in India this week (who have started to fall behind their sub-continent competitors once again) and the upcoming Tradewinds ship-recycling conference in Hamburg that is further set to hamper working hours, whilst bringing the shiprecycling sector together for what is usually a useful debate sprinkled with some frantic negotiating!”, GMS concluded. Source : Nikos Roussanoglou, Hellenic Shipping News Worldwide

PLEASE MAINTAIN YOUR MAILBOX, DUE TO NEW POLICY OF THE PROVIDER, YOUR ADDRESS WILL BE “DEACTIVATED” AUTOMATICALLY IF THE MAIL IS BOUNCED BACK TO OUR SERVER If this happens to you please send me a mail at [email protected] to reactivate your address again You can also read the latest newsletter daily online via the link : http://newsletter.maasmondmaritime.com/ShippingNewsPdf/magazine.pdf China’s LNG Imports: A Starring Role With Chinese LNG imports growing by a CAGR of 31% p.a. over the last ten years, China has stepped increasingly into the spotlight in the global LNG market. In 2017, Chinese imports of LNG increased robustly by 46% y-o-y to reach 38mt,

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accounting for 13% of global LNG imports, compared to a 2% share in 2008. China also overtook South Korea last year to become the world’s second largest LNG importer.

Support Act China’s imports of natural gas via pipeline or as LNG play an important role in China’s energy sector, accounting for c.40% of domestic natural gas consumption in 2017. China’s natural gas imports via pipeline began in 2010 following the start-up of Lines A and B of the Central Asia-China Pipeline, and grew firmly in subsequently years. The Myanmar-China pipeline started up in 2015, and between 2013 and 2016, China’s pipeline imports exceeded the volume of LNG imports.

Taking A Lead Role However, after remaining steady in 2015, Chinese LNG imports started to pick up firmly again in 2016, rising by 33% to 26mt, supported by low LNG prices and faster growth in gas demand. Then, in 2017, many Northern Chinese cities implemented plans to improve air quality by switching from coal to gas boilers, contributing to strong growth of 15% (23mt) in domestic gas demand, and leading to a gas shortage in some areas during the winter. Meanwhile, domestic gas output only rose by 8mt to 106mt, and natural gas imports via pipeline rose by just 2mt.

A Long-Running Show As a result, China’s LNG imports surged in 2017, rising 46% to 38mt. Imports from Australia grew 44% to 17mt, whilst imports from Qatar rose by 51% to 7mt. Imports from the US also grew firmly, from 0.2mt in 2016 to 1.5mt in 2017. While still only accounting for 4% of China’s LNG imports last year, growing imports from the US were a key driver of an increase in the average haul of China’s LNG imports, with tonne-mile imports rising by an estimated 67% in 2017, even faster than growth in terms of tonnes.

Backstage Help Looking ahead, there seem to be a number of positive drivers of China’s LNG imports. While a new gas pipeline from Russia is under construction (the ‘Power of Siberia’ pipeline), it is not expected to be operational until late 2019, which should support LNG imports in the short-term given the fast growth in gas demand, limited domestic output and lack of flexibility of pipeline supply contracts. While there is also some potential for increased domestic shale gas output, the expected rapid expansion of global LNG supply and construction of new regasification terminals in China also provide positive signals for LNG imports. At the start of 2018, China’s LNG regasification capacity stood at 54mtpa, and could reach around 80mtpa by the end of 2021. So, China’s LNG imports had an impressive 2017. With strong growth in gas demand, driven partly by a greater focus on environmental issues in general, there seems to be clear potential for further expansion in LNG imports. Overall, China looks likely to remain in the spotlight in the LNG sector for some time yet. Source: Clarkson Research Services Limited

CEVA opens new multi-user facility in Penang, Malaysia CEVA Logistics, one of the world’s largest supply chain management companies, has officially opened a new multi-user facility in Penang, Malaysia. Situated within the Bayan Lepas Free Industrial Zone Phase IV, the 70,000 sq ft facility is only 10 minutes away from the Penang International Airport and 10 minutes from the Penang Bridge, connecting the island to mainland Malaysia. This new multi-user warehouse delivers cost efficiency and flexibility through an optimized layout design and improved infrastructure to serve our customers. It includes a combination of temperature-controlled and ambient storage space, conducive and modern office space for in-plant customers, advanced materials handling equipment, advanced RF warehouse management system and Customs stationed on-site to facilitate on-time clearance. This is also an integrated hub that will house under one roof CEVA's contract logistics and freight management teams for Malaysia as well as its global supply chain solutions control tower teams who support its 24x7 largest customers globally. "CEVA continues to invest in its customer needs in Malaysia, this new facility which has doubled our footprint in Penang will continue to support our growth needs and positions us for future expansion in the market. With its strategic location in the northern part of Malaysia, coupled with the air cargo hub at Bayan Lepas airport, it aims to cater to a wide range of logistics and warehousing services and offer even greater value and benefits to our customers, " says CEVA’s Elaine Low, Executive Vice President, South East Asia. TechnipFMC Completes Kaombo Umbilicals Project TechnipFMC announced completion of the engineering, procurement, fabrication, and supply of the umbilicals system for the Kaombo project offshore Angola. The multisite project utilized the facilities of TechnipFMC Umbilicals and Angoflex. Operated by Total, the Kaombo development is located approximately 140 km off Angola. Total is one of five companies with an ownership stake in the project, along with Sonangol P&P, Sonangol Sinopec International, Esso E&P Angola, and Galp Energia. It is the first project on the ultradeepwater offshore Block 32. Total aims to tap oil deposits spread across six fields in the southeastern section of Block 32—Gengibre, Gindungo, Caril, Canela, Mostarda, and Louro—over an 800-km2 area at water depth ranging from 1400 to 1900 m. The fields have total estimated reserves of 650 million bbl of oil. Approximately 300 km of subsea Distribution : daily to 38.700+ active addresses 10-03-2018 Page 25 DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2018 – 069

pipelines will connect the field to two turret-moored converted floating production, storage, and offloading (FPSO) units. The FPSOs—Kaombo Norte and Kaombo Sur—will each have a treatment capacity of 115,000 BOPD, a water injection capacity of 200,000 BWPD, a gas compression capacity of 100 million scf/D, and an oil storage capacity of 1.7 million bbl. They are being converted from VLCCs at the Sembawang Shipyard in Singapore. TechnipFMC was responsible for the project management, engineering, and manufacture of more than 135 km of steel tube umbilicals. The load-out of the umbilicals for offshore installation started in April 2017 at Angoflex in Lobito, Angola, and the final umbilical was loaded out in January 2018. “The success of the Kaombo project has been a real team effort across the globe, and has demonstrated the level of commitment and dedication the teams across the three sites have, making it possible to deliver such large-scale global projects,” project manager Gavin Bainbridge said in a statement. Startup for the development is scheduled for this summer. source: Oil & Gas Facilities …. PHOTO OF THE DAY …..

The MSC DITTE is navigating the Westerschelde. Photo : Chris Rombouts ©

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