DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2012 – 013

Number 013 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Friday 13-01-2012 News reports received from readers and Internet News articles copied from various news sites.

The VOS PROMINENCE seen arriving in Aberdeen Photo : Maurice Napier (c)

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EVENTS, INCIDENTS & OPERATIONS

The GREEN FREEZER enroute Beverwijk – Photo : Simon Wolf (c) Iran stores more oil at sea as trade pressure grows The volume of Iranian crude oil stored at sea has risen to as much as 8 million barrels and is likely to increase further as the Islamic Republic struggles with sanctions and a seasonal refinery slowdown, shipping sources say. Iran, OPEC's second-largest oil producer after Saudi Arabia with output of about 3.5 million barrels per day, faces tougher trade hurdles over its nuclear programme. European Union countries have agreed in principle to an Iranian oil import embargo in the latest Western efforts to step up heat on Tehran. "A large part of its exports will be dislocated from Europe, and they will have to find new buyers or be replaced by other buyers," said Samuel Ciszuk, a consultant at KBC Energy Economics. "In any of those cases, Iran in sales price negotiations will have a very limited set of cards in its hands, and it's a very plausible assumption that we will see an increase in floating storage." Storing crude temporarily on oil tankers at sea has been an effective means in recent years for Iran to hold cargoes until sales can be made while not interrupting oil field production. Broker ICAP Shipping said the number of very large crude carrier tankers (VLCCs) storing Iranian crude has risen to four vessels from two in late December. A VLCC can store up to 2 million barrels of crude oil. Another shipping source estimated Iran was using three VLCCs to store crude oil, while JP Morgan said Iran was storing around 4 million barrels of oil and that about 22 million barrels of floating VLCC capacity was readily available. "If buyers disappear because of sanctions, it is likely (that) the first move by Iran would be to begin filling floating storage," JP Morgan said this week. RED SEA STORAGE Shipping sources said Iran was also using five VLCCs, up from around four in late December, to ferry its crude on shuttle runs to Red Sea terminals such as Sidi Kerir. "If the EU sanctions are passed, it is likely the shuttling to the Red Sea will slow as their storage at Sidi Kerir will quickly fill up without EU buying," said Simon Newman, head of tanker research at ICAP Shipping. "Floating storage would likely increase as Iran cannot lower their production by much as they'll lose pressure on their oil fields," he added. EU countries have proposed "grace periods" on existing contracts of

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one to 12 months to allow companies to find alternative suppliers before implementing an embargo. Greece, which depends heavily on Iranian crude, is pushing for the longest delay, diplomats told Reuters. China, the world's top buyer of Iranian oil, is expected to be in a stronger position to negotiate better terms and has already cut imports from the Islamic Republic. "Faced with a loss of traditional markets, Iran will likely also be aggressively looking for buyers, a process which is likely to entail heavy discounting or barter, and one that will tend to put downward pressures on oil prices," JP Morgan said. Much of Iran's crude is heavy and has a high sulphur content, making it harder and more expensive for refiners to convert it into valued transport fuels. "We are running into the normal seasonal floating storage when no one wants their more heavy, sour grades during shutdown season, so it should rise on that basis too," a source said. Iran's floating storage peaked in June 2010, when it was estimated at over 40 million barrels of crude, the highest since 2008. It reached over 20 million barrels in early 2011 before falling again. HORMUZ THREAT Shipping sources said the widening sanctions were likely to deter most international ship owners from engaging in deals in which Iran can hire tankers, compounding its logistic problems. "I can't see others being willing to charter in to them. Some companies simply won't be able to without breaking sanctions, and those that can might jeopardise the future employment of their vessels if they've dealt with Iran," a shipping source said. Iran has threatened to block the vital Strait of Hormuz if sanctions imposed by the United States and planned by the EU affect its exports. Shipping sources say the potential risk of Hormuz being disrupted also could encourage Saudi Arabia, Kuwait and other producers to store crude oil on tankers outside the choke point. Industry sources say the West plans to use strategic oil stocks to replace most of the Gulf oil that would be lost. "Those two elements together, if they get large enough, would make the Iranian threat less credible," KBC's Ciszuk said. International floating storage on tankers peaked at over 100 million barrels in April 2009 with 50 tankers used, mainly VLCCs. It declined after changes in market structure made the play less attractive. Floating storage plays are based on the assumption that the owner of the oil can sell a cargo later for more than the purchase price to benefit from a market structure called contango, in which prompt contracts trade at discounts to longer dated ones. With the market in backwardation, no international player is storing crude on tankers at the moment, shipping sources said. "If governments, traders and oil majors see increased potential for a disruption of oil trade, we could see floating storage increase," said Deutsche Bank analyst Justin Yagerman. "Oil traders may seek to take advantage of a potential spike in oil prices due to crude availability if the Strait is closed and contract tankers to cheaply store crude for later sale if prices increase." Source: Reuters

The heavy load vessel MEGA CARAVAN – Photo : Fop Leder (c)

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The 1994 built PRT flag vehicle carrier AUTORUNNER entering Grand Harbour, Malta for the first time on Tuesday 11th January, 2012 to berth at Pinto 4 and 5 wharves for bunkering operations. Photo : Cpt. Lawrence Dalli - www.maltashipphotos.com (c) Full ahead on armed guards contract A second round of discussions on the BIMCO standard armed guards contract took place in London at the offices of Ince & Co on 5 January. A preliminary draft contract has been prepared and is currently the subject of a detailed review by the Sub-committee who will meet again on 16 January to complete the process. BIMCO plans to release a consultation draft to a number of international private maritime security companies as part of the development process. Comments from these companies as well as Documentary Committee members will be taken into account by the Sub-committee when they produce their final draft for approval and publication. The Sub- committee is working flat-out to develop and fine-tune the draft contract so that it can be released for use by the industry as soon as possible. However, there are many complex legal and liability issues to be resolved, and it is not a task that the Sub-committee is undertaking lightly. Parallel work on a set of standard Rules for the Use of Force (RUF) is ongoing and the Sub-committee will be looking to tie the draft RUF to the work on GUARDCON at their 16 January meeting. The Sub-committee members are Tor Langrud, Wilhelmsen (Chairman); Dan Carr, Stolt International;

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Stephen Askins, Ince & Co; Elinor Dautlich, Holman Fenwick Willan; Andrew Moulton, Ascot Underwriters; and Andrew Bardot and Chris South, International Group of P&I Clubs. Source: BIMCO

Mv Kassel berthing Jan 10th at the Capuaba Terminal Vitoria Port Brazil with Smit Taboguilla and Smit manzanillo assistance – photo : A. Ferrari (c) DFDS and Louis Dreyfus Armateurs planning to start new route on Dover - Calais The commercial court of Paris decided to liquidate SeaFrance, which operated a route between Dover and Calais, with immediate effect. DFDS and Louis Dreyfus Armateurs formed a joint venture in 2011 that bid to acquire certain assets of SeaFrance, but the bid was rejected by the commercial court of Paris in December 2011.

Photo : P., M. & Ph. van Luik www.shipsoffterneuzen.nl ©

As previously stated, the underlying industrial logic of DFDS’ and Louis Dreyfus Armateurs’ joint venture has remained intact throughout the process. Furthermore, our joint venture is still in a unique position to create a number of sustainable French jobs, including the deployment of French flagged ships. We can, therefore, confirm that we have continued to pursue opportunities to establish a new route between Dover and Calais. Our intention is to operate two ships under the French flag to be manned with French seafarers. To open a new route, and provide an attractive service for customers, we aim to hire about 300 staff and expect to be able to start the recruitment process soon. The new route would be operated by vessels currently owned by the joint venture or vessels available on the market. More detailed information will follow as soon as possible.

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The ORIANA arrived in Malta – Photo : Gejtu Spiteri (c) Maersk Line Limited completes heavy- lift vessel reflagging Maersk Line, Limited (MLL) completed the reflagging under U.S. registry of the MAERSK ILLINOIS, its newest multipurpose heavy-lift vessel, the Company press release said. The ship is one of two sister vessels that MLL acquired in September 2011 and which will sail for Maersk-Rickmers U.S. Flag Project Carrier (Maersk-Rickmers), providing breakbulk and project cargo service for shippers requiring U.S. flag service. Maersk-Rickmers was jointly formed for this purpose by MLL and Rickmers-Linie (America).

“We are pleased to see this reflagging process completed, allowing us to introduce our modern ship and bring new value to the U.S. flag project cargo market,” said Dave Harriss, Director of Ship Management and Chartering at MLL. “We are now looking forward to bringing the MAERSK TEXAS into the U.S. flag fleet as we continue to build the service.” MAERSK ILLINOIS completed its maiden voyage in Mobile, Alabama where its reflagging was performed. The 19,600 DWT ship is 148 meters long and can carry 20,000 cubic meters of cargo. With two onboard cargo cranes with a combined maximum lift of 480 metric tons, she is ideally suited for handling of a wide variety of heavy and bulky cargo such as generators, locomotives, wind and gas turbines, hazardous materials and more. The vessel will make port calls on inducement around the globe. “As Maersk-Rickmers, we now offer a solution that will soon become the first choice for our clients,” said Steve Garifalos, General Manager of Sales and Customer Service at RickmersLinie (America). “Expansion of the U.S. flag multipurpose fleet benefits project businesses and those shippers needing heavy-lift service.” MAERSK ILLINOIS loaded its first U.S. flag impelled cargo immediately after the reflagging was

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completed on December 30 and set sail for Ghana with its new crew of U.S. mariners from American Maritime Officers and Seafarers International Union.

Maersk-Rickmers brings together MLL’s expertise in the operation and management of U.S. flag vessels and Rickmers- Linie’s 175 years of experience handling project cargoes worldwide. The complementary capabilities create a reliable service that realizes the efficiencies U.S. flag customers need to compete on a global basis. Source : PortNews P&O warns over Eurotunnel plan to buy SeaFrance ships The largest ferry operator on the key Dover Strait route between England and France has threatened to report Eurotunnel to the European Commission if its surprise plan to buy the ships of the insolvent SeaFrance breaches European competition rules. P&O Ferries, which accounts for around 30 per cent of traffic on the shortest route between England and France, gave the warning after Eurotunnel, the Channel tunnel operator, told a French newspaper it might buy SeaFrance’s three ships from the company’s administrator. Jacques Gounon, executive chairman, said Eurotunnel would lease the ships – all built in the last five years – to a new operator, possibly a co- operative of SeaFrance’s staff.

France’s Tribunal de Commerce ordered SeaFrance’s liquidation on Monday after it ruled out accepting any of the bids that had been made for the company, owned by SNCF, France’s state-owned train operator. The company had long been making a loss on the highly competitive route, where its main competitors are P&O, Denmark’s DFDS and Eurotunnel, which in recent years has carried around 40 per cent of the traffic on its shuttle trains. SeaFrance’s vessels have been tied up out of use since the court placed the company in administration in November. Nicolas Sarkozy, France’s president, has strongly backed efforts to find a way of saving the 1,100 jobs at SeaFrance, whose fate has become a significant issue ahead of April’s presidential election. He said on Monday: “I believe it is possible to say there will be a credible solution.” Chris Laming, P&O’s communications director, said it appeared to be a “never-ending battle” to persuade the French authorities that there should be a level playing field between different operators. “If we felt that competition rules were being breached by our major cross-Channel competitor – Eurotunnel, with 40 per cent of the market – we would complain vigorously to the competition authorities in a bid to protect our own position,” Mr Laming said. Under the Eurotunnel plan, the tunnel operator would purchase the ships as an investment, according to a person familiar with the situation. It would lease them to a new market entrant on a commercial basis. Mr Gounon told Liberation, the leftwing daily: “We cannot let the only French company in the port of Calais disappear.” Mr Gounon said a co-operative of SeaFrance’s workers was the “most credible” proposition for Seafrance and “the most socially acceptable”. The court, however, ruled out accepting the workers’ bid. Thierry Mariani, France’s transport minister, said the Eurotunnel proposal and a potential joint bid by DFDS and France’s Louis Dreyfus Armateurs were both options, though he added there were “others”. Source : ft

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POSH SOLD POSH HARMONY AND POSH HAZEL

POSH-Semco in Singapore sold their 56 ton BP 30.5 mtr tugs POSH HAZEL and POSH HARMONY to Malayan Salvage & Towage in Manila,

the 2008 China built tugs are scheduled to start to operate in Subic at the shipyards under their new names, the HAZEL is renamed in DEFIANCE earlier this week and the HARMONY is now named INTREPID, the ASD tugs are powered by 2 Niigata 6L28HX engines which are giving the tugs a speed of 12 knots, they will fly the Philippine flag homeported Subic – Photo’s : Piet Sinke (c)

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British WWII submarine: Wreck of HMS Olympus identified A British submarine lost during World War II (WWII), the HMS Olympus (N35), was found in the Mediterranean Sea, according to Malta authorities. The Odin class submarine was sunk by a mine off Malta in May 1942.

Built by William Beardmore and Company, a Scottish engineering and shipbuilding conglomerate based in Glasgow, the HMS Olympus was launched on December 11, 1928, and commissioned on June 14, 1930. From 1931 to 1939, the 283 feet (86 meter) submarine was part of the 4th Flotilla on the China Station, a historical formation of the British Royal Navy. Before being deployed to the Mediterranean Sea, the boat was part of the 8th Flotilla, Colombo, Ceylon (now known as Sri Lanka), in 1939 and 1940. An Italian aircraft hit and damaged the submarine on July 7, 1940. After repairs, the HMS Olympus attacked the Italian merchant ship Mauro Croce on November 9, 1941 with torpedoes and gunfire in the Gulf of Genoa, but repeatedly missed the target. On her way to Gibraltar, the 2,038 ton (submerged) submarine hit a mine on May 8, 1942. 89 crew and passengers were lost with the ship; the nine survivors had to swim 7 miles (11 kilometers) back to Maltese shores. A team of divers from Malta and Great Britain originally claimed the discovery of the wreck in 2008 at approximately 35°55'N, 14°35'E, 377 feet (115 meter) below the ocean surface. However, the identity of the submarine was not confirmed until a team from the Key Largo based Aurora Trust was able to re-locate and capture images of the wreck using an ROV in 2011. Source : globaladventures

The NLD flag semi-submersible heavy lift vessel FJELL shifting from Palumbo Malta Shipyard Ltd Dock 6 to Bighi Bay at the Grand Harbour, Malta to start preparations to load the jack up oil rig ENERGY EXERTER. Photo : Cpt. Lawrence Dalli - www.maltashipphotos.com (c)

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Plan developed to revive a fire-beaten submarine We feel more optimistic than in late December, says Dmitry Rogozin, on his visit to Severomorsk discussing the destiny of the Yekaterinburg missile submarine that was caught on fire in proximity to Murmansk at the turn of the year.

According to Mr. Rogozin (the Russian vice premier in charge of the country’s defense, and the Russia’s Ambassador to NATO) the submarine will be rehabilitated with the specified deadlines – ‘a few months’. In general, 'nuclear capacities of Russian defense system will be shortly compensated during the submarine’s out-of-service period', he says. 'The submarine is damaged, yet damaged is the first compartment', says Rogozin adding that technical solutions on the submarine rehabilitation have been already defined. The repair costs make up about 1.2 billion RUB, yet the losses will be counted more precisely when the submarine is brought for repair onto shipyard’s slips – expectedly at the premises of Sevmash. Icy waters of the White Sea may push transportation deadlines of the submarine from Roslyakovo to Severodvinsk to May-June when the ice cake is gone. As reported by different media sources, the fire had damaged submarine acoustic equipment and a special rubber coating of the hull that used to prevent detection of the submarine underwater. The fire broke out in the floating dock of Roslyakovo, some 5-7 km away from the city of Murmansk, on December 29. Raw versions claim that it was welding that sparked up a fire on wooden scaffolds raised around the submarine, while fire was then caught by the hull’s rubber coating. However the prosecution is yet to investigate the root causes. Within first hours, unsettling news around the incident and a chance of radiation leakage aroused alarming feelings in both citizens of Roslyakovo and Murmansk, and Norway – the closest geographical neighbour in the area. Norway was in particular stressed up by the lack of official information squeezing through the border though media and bloggers. Meanwhile, Russian official sources claim the radiation background in Roslyakovo is normal and is found within natural limits. In an interview to Murman TV channel, Anatoly Semenov, the head of Murmansk weather and environment monitoring office, says there are 63 stations of radiation control in the Murmansk region; the information is transmitted each hour and then analyzed. The information is open to public, adds Semenov. 7 crew members and 2 members of the rescue team were hurt during the incident. It is entirely possible that some high military officials may lose their jobs, however ‘one should not take hasty decisions’, Rogozin says. Source : barentsnova CASUALTY REPORTING

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Korean fishing vessel on fire in Southern Ocean Two Korean fishing vessels (Jeong Woo 3 and Hong Jin 707) are alongside and have evacuated crew from the Jeong Woo 2, the Korean fishing vessel on fire in the Southern Ocean, the Rescue Coordination Centre New Zealand (RCCNZ) reports. Of the 40 crew known to be on board, at least three have burns and were evacuated by crane. Three more are believed to be missing. The crew is being medically assessed and the rescuing ships plan to transfer injured seamen to the US research vessel Nathaniel B. Palmer, which is steaming north to meet them.

The Nathaniel B. Palmer has suitable medical facilities on board and will sail to McMurdo Base to put the injured seamen ashore. A number of other vessels are also responding and have been asked to rendezvous with Jeong Woo 3 and the Hong Jin 707 to take on the uninjured crew. Jeong Woo 2 is a 51m fishing vessel in the Ross Sea, about 2000 nautical miles (3704 kilometres) south east of New Zealand and about 600 kilometres north of McMurdo Station.

She issued a distress call, which was picked up by Hong Jin 707 and relayed to RCCNZ by the NZ vessel Antarctic Chieftain just before 3am (NZDT). The weather in the area remains clear, with light winds, although a low is expected tomorrow. Source: maritimenz.govt.nz NAVY NEWS Carrier Carl Vinson joins Stennis in 5th Fleet The carrier Carl Vinson has arrived in 5th Fleet, putting naval forces closer to Iran as tensions between that country and the United States continue to escalate. Vinson, as well as embarked Carrier Air Wing 17, cruiser Bunker Hill and destroyer Halsey, entered 5th Fleet on Jan. 9, where it is expected to support Operation Enduring Freedom in Afghanistan. Navy and Defense Department officials said last week that threats and military exercises from Iran would not deter U.S. forces from continuing to work in the region and that operations were running as usual with no special response to Iran’s provocations.

The carrier John C. Stennis also is in 5th Fleet supporting OEF. The Navy didn’t disclose the Vinson’s exact location, but carriers supporting the war in Afghanistan typically do not operate from the Persian Gulf. On Jan. 3, Iranian Army chief Ataollah Salehi warned Stennis not to operate in the Gulf.

“I advise, recommend and warn them over their return of this carrier to the Persian Gulf because we are not in the habit of warning more than once,” Salehi said as his country practiced shutting down the Strait of Hormuz, a chokepoint for shipping about 20 percent of the world’s oil supply. Vinson had left the Gulf and entered the Sea of Oman.

Vinson’s arrival comes as tensions with Iran continue. Days earlier, Iran sentenced former Marine Sgt. Amir Marzaei Hekmati to death, charging him with working for the CIA and spying on the country. The State Department and White

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House both condemned the verdict, demanded his prompt release and accused Iran of creating false charges against Hekmati. Various media reports said that Hekmati, who was born in Arizona, was in Iran visiting family.

The Iran-flagged dhow, Ya-Hussayn, Photo is taken from the U.S. Coast Guard Cutter Monomoy (WPB-1326). The cutter rendered assistance to six Iranian mariners who had to abandon the Ya-Hussayn after its engine room flooded. Monomoy is assigned to Commander, Task Force (CTF) 55, supporting maritime security operations and theater security cooperation efforts in the U.S. 5th Fleet area of responsibility. Photo : U.S. Coast Guard

Meanwhile, the United States continues to provide maritime assistance to distressed Iranian sailors. On Jan. 5, sailors from the destroyer Kidd, a part of the Stennis Carrier Strike Group, boarded an Iranian boat that had been captured by Somali pirates. The 13 Iranians fishermen onboard were rescued, provided with treated treatment, given supplies and sent on their way home. On Tuesday, the Coast Guard cutter Monomoy rescued six Iranians whose boat had engine problems and was taking on water. Source : Navytimes Three Pakistan Navy ships to visit Saudi Arabia Three Pakistan Navy vessels will visit Saudi Arabia from February 8 to 11 for goodwill cum training tour in line with great maritime traditions and to further strengthen the existing warm and cordial relations between the two countries.

According to a message received here from Saudi Arabia on Wednesday, the three ships, including PNS ZULFIQUAR, PNS SV BEHR PAIMA and PNS/M HAMZA will call on port of Jeddah. The crew of ships will visit different institutions of the RSNF Navy. They will also hold a naval exercise with Royal Saudi Naval Force ships on February 11. The Pak Navy ships will remain open for visitors on February 10 from 1500 hrs to 1700 hrs at Jeddah sea port. The Karachi submarine sale scandal In May 2002, 11 French engineers working on the assemblage of Agosta class submarines sold by France to Pakistan died in a bomb blast in Karachi. Initially presumed to be the work of Islamist terrorists, the blast was later revealed to be an act of retaliation by elements in the Pakistani military and the ISI in response to the French state's failure to pay Pakistani officials $33 million in promised kickbacks for a €1.8-billion contract for the purchase of Agosta submarines in 1994.

Judges investigating the affair are now attempting to prove or disprove whether French Prime Minister Edouard Balladur received “retro commissions” or reverse kickbacks for the contract. Mr. Balladur has given no credible explanation for 10 million French Francs (€1.5 million) which found their way into his campaign coffers.

Mr. Balladur, it is alleged, imposed two Lebanese businessmen as intermediaries on the Pakistani negotiators. The deal then struck, was that Pakistani officials would receive 338 million French Francs as commission for signing on the dotted line, while another 216 million French Francs would be added to the price of the contract and returned to the French as reverse kickbacks.

A web of offshore companies was created to channel the alleged commission payments. It also quotes from a confidential report written by a former French intelligence officer about the case. The secret memo says that Pakistani officials kept asking for the unpaid bribes for several years. Mr. Balladur lost the election to his arch rival Jacques Chirac, who then decided to stop the payment of commissions to the Pakistani officials. The Pakistanis sent several messages to the French warning of dire consequences if the “debt” remained unpaid. In June 2009, The Hindu, on the basis of discussions with lawyers close to the enquiry, reported that investigating magistrates Marc Trevidic and Yves

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Jannier had obtained a top-secret memo containing the above allegations in October 2008 from the state-owned shipbuilder DCN which supplied the submarines.

It was Judge Jean-Louis Bruguiere, who is close to both Mr. Balladur and President Nicolas Sarkozy (then the Prime Minister's campaign spokesman), who decided after an initial investigation that the blame for the May 2002 Karachi blast lay with Islamist militants. Ironically, it is Judge Marc Trevidic (who has now reversed the Rwanda report), who decided to reopen the case to begin tracking the “reverse kickbacks” enquiry. Giving commissions was not illegal (it is now) but receiving reverse kickbacks has and remains illegal. Source : The Hindu SHIPYARD NEWS

In Singapore the POSH MULIA entered Dock 1 at the JSML shipyard Photo : Piet Sinke ©

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Brazil’s OSX Raises $227.9 million for Construction of Brazilian Shipyard OSX Brasil said yesterday that it has secured $227.9 million in financing for the construction of a shipyard and industrial complex in Brazil. Construction of the yard, called Açu Shipbuilding Unit, was started in July 2011 in the City of São João da Barra located in the Northern region of the State of Rio de Janeiro. The Açu Shipbuilding Unit is being constructed at the Açu Superport Industrial Complex, which is the largest shipyard in the Americas and located near the oil-rich Campos Basin. The shipyard will be built in cooperation with South Korea’s Hyundai Heavy Industries and is expected to be completed in the first quarter of 2013. “The construction of the Açu Shipbuilding Unit is underway, in order to begin steel cutting for OSX’s fleet of oil and gas production platforms in the first quarter of 2013,” said CEO of OSX, Luiz Eduardo Carneiro. “This USD 227.9 million disbursement advances part of the R$2.7 billion [Merchant Marine Fund] long-term funding, dedicated to the implementation of the Açu Shipbuilding Unit, which we are developing in partnership with our fellow shareholder and technology partner Hyundai Heavy Industries, the global leader in naval construction.” OSX Brasil was founded in 2009 by Brazilian billionaire Eike Batista’s EBX Group in order to meet the growing demand of Brazil’s offshore oil and gas industry. In March 2010, the company raised R$2.5 billion through an Initial Public Offering on the BM&FBOVESPA., which was the seventh largest primary IPO in the history of the stock exchange. The BM&FBOVESPA is the second largest stock exchange in the America’s by market value and is located in São Paulo, Brazil. Source: gCaptain Shipbuilding: Dilemma for South Korea Dilemma time. South Korea’s shipyards must choose whether to allow a small, but growing rival (China) to take control of key technology, or risk overpaying for it themselves. Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are considering a joint bid for France’s Gaztransport & Technigaz, which makes the favoured containment systems for liquefied natural gas tankers. But China is also a potential bidder. There is good reason for GTT’s owners -- GDF Suez, Total and Hellman & Friedman -- to cash in. Short-term LNG charter rates have risen fourfold from summer 2010 levels to $125,000 a day. Ship demand has surged; 54 were ordered last year, according to Platou LNG of RS Platou shipbrokers. That is half as many again as ordered in the last four years. South Korea’s yards have more than 80 per cent of those orders. China has less than 10 per cent with Japan the remainder. The majority of the ships will have GTT’s system. So how much is GTT worth? Its owners think about $1.3-billion. Industry watchers say this is expensive. Back-of-the-envelope calculations bear this out; no financial data are available, but assuming revenues worth $500-millionm (average, one-off licence fees of $10- million per ship, although these vary with repeat orders, applied to a not unreasonable 50 of the total new ship orders), that would be more than twice sales, a hefty tag. The S&P 500 trades at 1.25 times sales, France’s CAC 40 at 0.5 times. Yet there is China. Last year it signalled industry-building intentions with plans to block any new LNG tanker not built in China from its ports. Key technology owned by a well-funded rival could soon affect the trio’s current leadership. South Korea’s ship builders could easily overpay in financial terms for GTT. But the deal’s importance to their longer-term future might justify the cost. Source: Financial Times

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, please do not write this in the guestbook because I am not checking this guest book daily. Dongfang COO resigns as order book falls Dongfang Shipbuilding chief operating officer Sun Xiaoming has resigned following a significant fall in the company's live order book. Dongfang's trading update in November warned that the loss for the second half of the year to the end of 31 December would be materially greater than the first half as shipbuilding work had slowed dramatically. It says that since that update,the outlook has not improved for the company's shipbuilding division. It adds: "As market conditions have worsened, it has been increasingly difficult to secure the relevant banking finance for

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the execution of the contracts to allow commencement of work." The company had an order book of approximately $64.7m at the time of the November update but the two largest contracts - totalling approximately $52.6m - have been cancelled following the failure to finalise the technical contracts and secure the required banking finance and performance bonds. The company says it previously announced that it had signed contracts for eight 6,700DWT bulk carriers worth approximately $14.5m in total. But it has now become clear that the customer does not intend to proceed with these contracts given the reduction in ship charter rates and the live order book has been reduced to $5.7m for delivery in July 2012. The company adds: "Whilst the board is extremely concerned about the fall in order book and the poor state of the shipbuilding market in general, it has made progress in its discussions with its banks and should be better placed to undertake any new orders as they come in." Source: StockMarketWire

318.000 DWT tanker EZKI and 82.000 DWT bulk carrier ATHINA CARRAS at DSME, Geoje, South Korea Photo : Thom Jaspers © Okskaya Shipyard to launch 10th serial bulker of Project RSD44 on Jan. 19 Navashino-based Okskaya Shipyard plans to launch on January 19, 2012 the 5,540DWT Kapitan Kanatov, the tenth vessel of a series of 10 Volgamax dry bulk carriers of RSD44 Project ordered by Volga Shipping Company, the shipbuilding firm said. The Volgamax dry cargo ships of Project RSD44 were designed by Marine Engineering Bureau. The vessels are intended for transportation on Russia’s inland waterways general, bulk, timber cargo, grain, lumber, potash and fertilizer, sulfur, coal, paper, building materials, steel products, and up to 140 containers.

The RSD44 project ships will gradually replace the previous series of "Volga-Don” ships. The vessels surpass their predecessors, featuring enhanced capacity, environmental friendliness, efficiency and comfort, the shipbuilder said.

Ship’s main features: length DWL - 138.9 m, beam - 16,5 m, depth - 5 m, coaming height - 2,2 m, fresh water draft 3,6 m DWT - 5,543 tons, salt water draft 3.53 m DWT - 5,562 tons, cargo hold capacity - 7090 cbm; Russian River Register Class - + O-OL 2,0 (ice 20) A.

The lead ship of RSD44 project Kapitan Ruzmankin was laid on Feb. 24, 2010, launched on Nov. 23, 2010 and delivered to the Customer on May 2011. Later, Volga Shipping took delivery of the next five bulkers and has put them into service (the Kapitan Zagryadtsev, the Kapitan Krasnov, the Kapitan Gudovich, the Kapitan Sergeyev and the Kapitan Kadomtsev). On November 18th, the shipbuilder delivered the eighth serial vessel, the Kapitan Yurov.

The dry cargo ships will be operated on the Volga-Don Ship Canal (VDSK), Volga-Baltic Canal, in the Azov Sea to the port of Kavkaz and in the Gulf of Finland. The vessels will be able to pass under the Neva bridges near St. Petersburg and under Rostov railway bridge (Rostov-on-Don). The RSD-44 project is co-financed through the leasing scheme by the state-run United Shipbuilding Corporation (85%) and Volga Shipping (15%) on the terms of state subsidy of refinancing interest rate of Central Bank of Russia.

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Archtech Helsinki Shipyard to lay icebreaking supply vessels on Jan. 19 Archtech Helsinki Shipyard Oy, a JV of STX Finland and United Shipbuilding Corporation, on January 19, 2012 will hold keel-laying ceremony for two Multifunctional Icebreaking Supply Vessels (MIBSV), ordered by Sovcomflot, the shipping company said. Ship's main characteristics: length - 99.2 m, beam - 21.7 m; four engines of the total power of 18,000 kW and the propulsion power of 13,000 kW.

The ships will be used as supply vessels for Exxon Neftegas Limited's platform in the Sakhalin-1 Arkutun-Dagi gas field project. The main purpose for these vessels is to supply the gas production platform and to protect it from the ice. The icebreaking capability of the vessels is extremely high, they are able to operate independently in 1.7 meter thick ice. As multipurpose vessels, these vessels are capable of carrying various type of cargo and they are equipped for oil spill response, fire fighting, and rescue operations. The rescue capacity is for 195 persons.

The vessels are scheduled for delivery during spring 2013. Russian companies, namely Vyborg Shipyard, are also participating in the newbuilds contract. Archtech Helsinki Shipyard Oy is a 50/50 joint venture formed by the United Shipbuilding Corporation and STX Finland last year. Source : PortNews

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Vale yet to sell huge iron ore cargo in China-traders Brazilian miner Vale has not yet sold its first mega iron ore cargo delivered to China two weeks ago, and has instead stored the material near a port for now, traders said on Wednesday. The 388,000-deadweight-tonne vessel Berge Everest, which carried 350,000 tonnes of iron ore, unloaded at China's Dalian port in late December, ending months of delays in getting the world's biggest dry bulk ships into China. "It was discharged into a bonded warehouse in Dalian," said an iron ore broker in Singapore. "From Vale's point of view, it's not particularly wise to sell right now given the lacklustre demand from Chinese mills." "There's a lot of material in bonded warehouses across the coast at the moment because of the demand situation," he said. Vale may be waiting for Chinese demand to pick up, possibly after the week-long Lunar New Year break in late January, before selling the cargo, traders said. The world's biggest iron ore miner, hoping to slash shipping costs to China by using a new fleet of mega dry bulk carriers, was not planning to sell the maiden cargo from Berge Everest immediately, said an iron ore trader in Hong Kong. Vale, which sells about 40 percent of its ore to China, is counting on a fleet of 35 Valemaxes to cut shipping

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costs and better compete with Australian rivals BHP Billiton and Rio Tinto. "Vale just wanted to show its Chinese clients that its vessel can berth in China," he said, adding the cargo is likely to be sold into the spot market, instead of to a single buyer on a long-term contract. "We're quite sure it's not sold yet. It should be put in the spot market, we're quite confident," said the Hong Kong trader, who sells iron ore to mills in mainland China.

The VALE RIO DE JANEIRO moored at the EECV in Rotterdam-Europoort Photo : FLYING FOCUS luchtfotografie - www.flyingfocus.nl ©

Vale may offer a discount for the cargo of high-grade ore with 65-percent iron content given that it was the first material shipped on its Valemax, he said. Offering a discount for the cargo could be a "short-term ploy" by Vale to draw customers to its big shipments, said Mark Pervan, global head of commodity research at Australia and New Zealand Bank. "From a short-term point of view there potentially could be some discount. But they won't want to be doing this on an ongoing basis because it defeats the whole purpose. "The whole reason for those ships was to try and be competitive against the Australians. So if you're going to be selling it to the market at a big discount, you'll lose any upside from the lower freight cost," Pervan said. A spokesperson for Vale was not immediately available for comment. Vale's first megaship cargo to China was forced to turn back in June last year due to the lack of permits . In early December, Vale Beijing, the newest member of the "Valemax" fleet -- 50 percent bigger than most ore carriers and one of the largest afloat -- developed cracks in its hull on its maiden voyage. The China Shipowners Association has opposed Vale's fleet, worried that the vessels will give the miner monopoly on both the shipping and iron ore markets at China's expense. The low quality of China's iron ore has made it heavily reliant on imported material, a market controlled by Vale, Rio Tinto and BHP Billiton . A Reuters poll of analysts in mid-December showed China's iron ore imports would jump to a record 720 million tonnes in 2012, with its steel output rising to 728 million tonnes, also an all-time high. China's iron ore imports rose nearly 11 percent to 686.06 million tonnes in 2011, and traders said firm Chinese demand should keep spot iron ore prices .IO62-CNI=SI, which stood at a seven-week high of $142.30 a tonne on Tuesday, high. Source: Reuters Monte Pascoal to cruise scale-free from now on Hamburg Süd Container Lines, headquartered in (of course) Hamburg is a shipping company running a fleet of container vessels all over the world, represented by two brands: Hamburg Süd as a German carrier and Aliança as a Brazilian shipping company operating vessels under the Brazilian flag. One of their container vessels is the Monte Pascoal, sailing from Santos. It is for the Monte Pascoal that Pronomar supplied their innovative and highly environment-friendly solution for green water treatment, the MERUS rings. The following ring was Installed: Ø one 4" HCI ( High Industrial Capacity) ring for the evaporator Now, how does it work? This is easily explained: after installing the MERUS ring it gives off tiny oscillations, thus disturbing the lime scale. Afterwards you simply flush away the “troublemakers” leaving the relevant equipment free from scaling or other harmful build-up which in consequence brings back the initially experienced performance levels.

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Further the equipments lifetime is increased considerably. Last but not least the rings do not require any maintenance which means a significant saving in operational costs as well as manpower. It is safe to say that with the MERUS rings you can be sure of a smooth operation on-board and equipment working to its full potential! Pronomar are pleased about this new order and trust the Monte Pascoal will cruise with less scaling and better performance of the Evaporator from now and that maybe their sister vessels will follow in the future! If you are also troubled by heavy scaling and need a remedy then do not hesitate, contact us today at www.pronomar.com – we look forward to hearing from you!

The Titan Salvage Team engaged in the removal of the wreck ex. ‘UNISON VIGOR”, in Sriracha, Thailand in front of the wreck having successfully been refloated. Photo : Y. Fukushima ©

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Abu Dhabi Ports Company, Abu Dhabi Terminals ink berth agreement with IRSHAD Abu Dhabi Ports Company (ADPC) and Abu Dhabi Terminals (ADT) signed an agreement with Abu Dhabi Petroleum Ports Operating Company (IRSHAD) yesterday. The signing, which took place at ADPC’s HQ, was attended by Capt. Mohamed Juma Al-Shamisi, Vice President Ports Unit at ADPC, Martijn Van de Linde, Chief Executive Officer of ADT and Mr. Khalifa Al Qubaisi, General Manager of Abu Dhabi Petroleum Ports Operating Company (IRSHAD), ADPC press release said.

This agreement comes as a result of the combined efforts between ADPC and ADT to provide IRSHAD with an allocated land area and dedicated berths to support the construction and management of the Zakum offshore oilfield project. Commenting on the signing, Capt. Mohamed Juma Al-Shamisi, Vice President Ports Unit at the Abu Dhabi Ports Company, said: “It gives ADPC great pleasure to facilitate and support the construction and management of one of the world’s largest offshore living structures. This agreement is an additional testament to ADPC’s role in providing its partners with the facilities required for the success of their projects and businesses.” Martijn Van de Linde, Chief Executive Officer of Abu Dhabi Terminals, stated: “We are pleased and proud to sign this agreement. Not only does it facilitate IRSHAD’s business, but it is also a testament to the continued strong cooperation between ADPC as the regulator and port authority, and ADT as the operator to create a joint value proposition that helps Abu Dhabi’s businesses grow and develop.”

Khalifa Al Qubaisi, General Manager of IRSHAD, said: “It is an honour and privilege to be part of this new business venture with ADPC and that we, Abu Dhabi Petroleum Ports Operating Company (IRSHAD), express our eagerness to develop the new temporary terminal at the New Free Port in Mina Zayed which is expected to be completed by June 2012 as well as providing 2 new passenger vessels that will transport up to 400 people daily to and from the Zakum field.” Located about 84 kilometres North West of Abu Dhabi, the Zakum field is one of the largest offshore structures in the world and is the second largest field in the Gulf. A new 1,430 m² terminal building, that will be monitored and supervised by ADT, will be equipped with the state-of-the-art passenger and baggage screening facilities and 200 cars parking along with prayer rooms, and a crew resting area. Source : PortNews Fendercare Marine provide first ship to ship transfer operation off Ireland Norfolk based Fendercare Marine completed the first ship to ship (STS) transfer off the coast of Belfast last week. The operation was unusually requested by the owners of Genmar Companion following a discovery of a crack in the deck of the vessel en route from Rotterdam to New York. The Genmar Companion had sheltered off Copeland Islands since 16 December having been refused entry into Cork to conduct the repairs necessary to the deck. The vessel was carrying 54000 tonnes of vacuum gas oil that needed to be transferred to another vessel prior to entering Belfast Harbour and the owners therefore contracted specialist STS operators Fendercare Marine. “This was a standard operation for us” commented Keith Loffstadt, Vice Chairman, Fendercare Marine, “we had planned to start the transfer on 1 January but the operation was delayed due to the bad weather & high winds in the region. On 6th January, the weather improved enough to ensure a safe transfer of cargo & allowed the operation to take place within our environmental parameters”. Fendercare Marine used one of their most experienced Mooring Masters, George Mills who has been a marine pilot for over 25 years. “The vessels used in this operation were of a similar size which is an unusual situation,” commented George Mills, “but we only complete transfers within strict limits to ensure we maintain our exceptionally high health & safety record. With the cargo safely transferred the Genmar Companion will be able to effect necessary repairs by docking in Belfast” Fendercare Marine is one of the worlds most experienced STS operators & complete such operations worldwide on a daily basis. Based in Seething, Norfolk, last year alone they managed 3500 transfers from

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their 30 global bases for a variety of clients including oil majors and independent oil traders. In addition to providing STS operations, Fendercare Marine is one of the world's leading suppliers of marine equipment and services, including the renowned Yokohama fenders that are used in all their STS operations. A member of James Fisher & Sons plc, Fendercare has a diverse & expanding portfolio of equipment & services operating in the marine & offshore industries worldwide. With a turnover in 2011 near £110 million, Fendercare Marine is a truly global company with offices in the Africa, Australia, Far East, South America & the Middle East.

The HORIZON off Willemstad (Curacao) – Photo : Kees Bustraan © Safmarine names new CEO Safmarine has appointed Grant Daly as its new CEO, effective February 1, 2012, the Company said Tuesday. South African-born Daly, currently Safmarine’s Head of MPV (Multi-Purpose Vessel) unit, replaces Tomas Dyrbye, who has been Safmarine’s CEO for the past two and a half years. Daly joined Safmarine 17 years ago after graduating from the University of Stellenbosch with a Bachelor of Economics degree.

The appointment of a new Safmarine CEO follows the announcement, in October 2011, of the Maersk Liner Business’ intention to integrate the corporate and regional management activities of Safmarine into those of the Maersk Line, whilst retaining and growing a separate Safmarine brand and operating model.

Safmarine will continue to have its own independent pricing, capacity, sales and customer services structure, supported by more than 1,400 Safmariners located in 130 countries around the world. As new CEO, Daly will be based at the new Safmarine headquarters in Copenhagen, Denmark where he will report to Hanne B. Sørensen, Maersk Line’s Chief Commercial Officer. Daly says: “For close on two decades I have been fortunate to enjoy a varied, exciting and immensely fulfilling career with Safmarine and it’s an honour to take the helm as chief custodian of the Safmarine brand. My immediate priority is to establish the Safmarine Centre team in Copenhagen and to ensure we provide Safmariners in the countries with the support they need to deliver on our Safmarine promise to customers. I also look forward to meeting, and working with, Safmariners and customers in the months ahead; together we can build an even stronger Safmarine for the future.

He continues: “I also wish to thank outgoing CEO, Tomas Dyrbye, for his contribution to Safmarine. Under his tenure, Safmarine achieved record volume growth in 2011 and record profits in 2010.”

Hanne B. Sørensen adds: “The challenge - of making brand segmentation work without a separate management structure - is a new one in the shipping industry and we are delighted that Grant has accepted this challenge. We know he has the necessary Safmarine experience, skills and knowledge to build and grow a resilient and highly respected brand.

She continues: “We strongly believe that our multi-brand strategy, which will allow us to serve several and more customer segments with different products, is the path to a prosperous future for the Maersk Liner Business and we are committed to providing Grant and his new team with the support they need to grow the Safmarine brand info the future.”

Safmarine Container Lines NV is a Belgian shipping company, based in Antwerp and specialising in sea transportation of cargoes between Africa, the Middle East and the Indian Subcontinent as well as operating in other trades. Source : PortNews

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ABB wins deal to power first Chinese- built drillships ABB signed with China's Shanghai Shipyard to provide electric solutions for the first two drillships ever to be built in China. The power and automation technology group will supply electric power generation and distribution systems, drilling drives and electric propulsion system-thruster drives for the drillships. ABB will also provide life-cycle project and engineering management, electrical plant and equipment classification, onsite technical support and after-sale services. Singapore's Opus Offshore contracted Shanghai Shipyard to engineer and construct the 160-metre-long Tiger series drillships, which will be equipped to operate in water depths of up to 915 meters upon delivery. Source: Seatrade-Asia Maritime Institute Willem Barentsz cooperates with Amarcon Maritime Institute Willem Barentsz and the Dutch decision support-software developer Amarcon have closed an agreement with regards to DP training courses on the DP simulator bridge located at the Willem Barentsz in the Netherlands.

Amarcon’s DP Forecast functionality is part of the decision support product OCTOPUS-Onboard. OCTOPUS-Onboard is a state-of-the-art modular ship motion monitoring and decision support system for ships and other floating structures. In December of 2011 The DP simulator from the Maritime Institute Willem Barentsz was equipped with a complete OCTOPUS-Onboard configuration, including motion monitoring & forecast and the in 2010 launched DP- Forecast functionality. The DP software gives offshore vessels the possibility to make use of a safe time window for their weather-sensitive operations. An important remark has to be made here. The OCTOPUS-DP functionality can not be compared with already existing Dynamic Positioning Systems. Where traditional DP systems try to keep the vessels position during an offshore operation, OCTOPUS-DP should be seen as an addition to the actual onboard DP system. A forecast is given if the vessel is capable of maintaining her position and heading in changing environmental and weather conditions, hours and days ahead. Safe heading sectors and operational windows are shown on a devoted OCTOPUS screen on the bridge of the simulator at the Maritime Institute Willem Barentsz training facility.

The Maritime Institute Willem Barentsz is currently developing study material for specialized DP training courses for students that study at the facility. The study material shall also be used and in order to provide specialized trainings for future DP Operators that work within the offshore construction industry. This way DP Operators and students that study at the Maritime Institute Willem Barentsz will have a more profound understanding of not only the actual onboard Dynamic Positioning system, but also gain more knowledge about operational windows and planning of DP operations. For more information about the Maritime Institute Willem Barentsz and the training courses that are given at the facility, please contact Pim Werner: [email protected] or +31-562446666 or visit the website: www.miwb.nl

Go to the Amarcon website for more information about the OCTOPUS-DP Capability forecast. Mitsui O.S.K., Maersk finalize agreement to pool largest tankers

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Mitsui O.S.K. Lines Ltd. (9104), owner of the world’s largest shipping fleet, and A.P. Moeller-Maersk A/S finalized an agreement to jointly operate 50 of the biggest crude-oil tankers, Bloomberg reports. Morten Pilnov, head of gas at Maersk Tankers, will become managing director of Nova Tankers A/S, the new pool-management company operating the vessels, while Mitsui executive officer Kazunori Nakai will be its chairman, Maersk Tankers said in an e-mailed statement today. the two owners said Dec. 6 they planned to form the pool of very large crude carriers, or VLCCs, along with Ocean Tankers (Pte), and Samco Shipholding Pte. Mitsui unit Phoenix Tankers Pte is also in the pool, according to the e-mail.

Port of Nikolaev throughput grows 20 percent to 8.63m tons Cargo traffic at Port of Nikolaev in 2011 totaled 8.63 million tons, a 20-percent gain year-on-year, the Ukrainian company said. In the reporting period the port handled 873 vessels and 100 695 railcars. "This is a record figure in three straight years. In 2008, the port handled the record cargo volume in its post-Soviet history - 9.3 million tons”, the company statement said.

State-owned Nikolayev Sea Commercial Port (Port of Nikolaev) was founded in 1789. The port located at the mouth of the Southern Buh River is connected with the Black Sea by a 44-mile shipping canal. The port is a key transportation hub in Ukraine’s southern region. Port of Nikolayev specializes in handling general and bulk cargoes, grain, ore, metal, pipes, etc. The port has indoor and outdoor warehouses and operates 15 berths with rail sidings.

OLDIE – FROM THE SHOEBOX

Left the lifeboat of the SMIT tug MISSISSIPPI in the water alongside the tug whilst working on the grounded SEA SPRAY in 1974,

The SEA SPRAY ran aground on a reef in the South China Sea,

In the lifeboat are seen (from the back fwd) Fred Overweg (AB), mate Henk van Raaij, Oiler John Vet, 3rd engineer Dries van de Kooij, assistant engineer Bram de Feyter, Kees Rooker (AB), Eeltje Wielstra (Bosun)

and on deck is cook Henk Wigmans overlooking the operation.

Photo : via Bram de Feyter

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…. PHOTO OF THE DAY …..

The ZHEN HUA 24 seen in Le Havre - Photo : Sébastien Fouéré ©

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