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Machine-Learning Technique Speeds Extreme Event Analysis

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Engineers at MIT in the U.S. have developed an algorithm based on machine-learning that quickly pinpoints the types of extreme events that are likely to occur in a complex system, such as when waves of varying magnitudes, lengths and heights can create stress on a ship or offshore platform. 

Compared with traditional methods, the team’s technique provides a much faster, more accurate risk assessment. Engineers typically gauge a structure’s endurance to extreme events by using computationally intensive simulations to model a structure’s response to, for instance, a wave coming from a particular direction, with a certain height, length and speed. These simulations are highly complex, as they model not just the wave of interest but also its interaction with the structure. By simulating the entire “wave field” as a particular wave rolls in, engineers can then estimate how a structure might be rocked and pushed by a particular wave and what resulting forces and stresses may cause damage.

These risk assessment simulations are incredibly precise and in an ideal situation might predict how a structure would react to every single possible wave type, whether extreme or not. But such precision would require engineers to simulate millions of waves, with different parameters such as height and length scale — a process that could take months to compute. 

As a more practical shortcut, engineers use these simulators to run just a few scenarios, choosing to simulate several random wave types that they think might cause maximum damage. If a structural design survives these extreme, randomly generated waves, engineers assume the design will stand up against similar extreme events in the ocean.

But in choosing random waves to simulate, engineers may miss other less obvious scenarios, such as combinations of medium-sized waves or a wave with a certain slope that could develop into a damaging extreme event.

With our approach, you can assess, from the preliminary design phase, how a structure will behave not to one wave but to the overall collection or family of waves that can hit this structure,” says Themistoklis Sapsis, associate professor of mechanical and ocean engineering at MIT.

Instead of running millions of waves or even several randomly chosen waves through a computationally intensive simulation, Sapsis and former student Mustafa Mohamad developed a machine-learning algorithm so that they can quickly feed in various types of waves and their physical properties, along with their known effects on a theoretical offshore platform. From the known waves that the researchers plug into the algorithm, it then “learns” and make a rough estimate of how the platform will behave in response to any unknown wave. 

Through this machine-learning step, the algorithm learns how the offshore structure behaves over all possible waves. It then identifies a particular wave that maximally reduces the error of the probability for extreme events. This wave has a high probability of occurring and leads to an extreme event. In this way the algorithm goes beyond a purely statistical approach and takes into account the dynamical behavior of the system under consideration.

Sapsis says that the technique is not limited to ships and ocean platforms but can be applied to any complex system that is vulnerable to extreme events. For instance, the method may be used to identify the type of storms that can generate severe flooding in a city and where that flooding may occur. It could also be used to estimate the types of electrical overloads that could cause blackouts and where those blackouts would occur throughout a city’s power grid.

Source:maritime-executive

Fire at Gadani Shipbreaking Yard

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On Sunday, another oil tanker caught fire on the beach at Gadani, Pakistan, injuring seven. Two workers are said to be in critical condition. 

Fires are a regular occurence at Gadani, and another tanker burned during scrapping in July, reportedly trapping four workers inside the hull. 

The fires follow after Pakistan's decision to lift an 18-month ban on the demolition of tankers, which was enacted in response to a series of deadly accidents. In November 2016, the FPSO Aces exploded and burned during demolition, killing 26 and wounding 58 more. A second fire broke out aboard the same vessel in November 2017. 

Separately, a fire broke out on an unnamed LPG carrier in December 2016, and then a second time in January 2017, with five fatalities and an unknown number of missing workers during the second incident. 

"Even jungles would have some laws, but there are none here," alleged labor leader Nasir Mansoor, in comments to Pakistan's Express Tribune earlier this year. 

Market factors slow tanker sales to Pakistan

From the seller's perspective, the disposition of tankers at Pakistani breakers looked promising earlier this year, thanks to the lifting of the tanker beaching ban. Cash buyer GMS says that it was the first to return to the Pakistani tanker-breaking market after beachings resumed in May. However, by July, the firm said that yards' waterfronts were "stuffed" with tonnage because a cutting ban remained in place. Government-issued cutting permissions were finally released in late August, allowing Gadani's ship recyclers to start absorbing their inventory backlog.

In its latest circular, GMS says that Pakistani prices for tankers hover at about $440 per LDT, slightly less than what can be had at the Bangladeshi yards. But Pakistan's economic woes make the outlook for scrap steel pricing difficult to predict, and GMS reports that Pakistani shipbreakers are taking a "wait-and-watch" approach before committing to buy more tonnage.

Source:maritime-executive

Semco booked for Deutsche Bucht service

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Danish engineering company Semco Maritime has won a five-year service contract at Northland Power’s 252MW Deutsche Bucht wind farm in the German North Sea.

The company will be responsible for managing the project’s offshore substation.

As a result, Semco is planning to double staff at its Norddeich office in Germany, with plans afoot to add between eight and 10 employees.

This may be supplemented with project recruitments as required, Semco added.

"Semco Maritime built the world's first offshore substation in 1999, and we still employ some of the people who pioneered this area,” said senior offshore wind O&M manager Mads Seneca Iversholt.

This is a young industry where in-house knowledge and experience is important because you always build each OSS specifically for the intended assignment.

“Our experience and knowledge make it easier for us to deliver fast, accurate and cost effective service or modification, according to the customer’s needs.

Northland project director Jens Poulsen: "We know Semco Maritime as a reliable and competent partner, delivering high quality on time."

To us, flexible contracts combined with a proven ability to meet and transfer requirements into value-added solutions are important parameters when choosing our partners.”

Source:renews

Aker BP to buy Equinor gas, condensate discovery for $250 mln

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Aker BP has agreed to buy Equinor’s 77.8 percent stake in Norway’s King Lear gas and condensate discovery for $250 million in cash, the two companies said on Monday.

The North Sea discovery has estimated reserves of 77 million barrels of oil equivalents, and by connecting it to existing production facilities at the Ula field, Aker BP expects the acquisition to add more than 100 million barrels in total.

This (tie-in) will improve the capacity utilisation at the Ula facilities and provide significant additional volumes of injection gas to support increased oil recovery,” the company said.

State-controlled Equinor said the stake sale was part of a process to streamline its Norwegian portfolio.

By doing so we unlock capital for investment in projects that offer higher returns for Equinor,” said Jez Averty, Equinor’s senior vice-president for operations in the southern North Sea.

The remaining 22.2 percent stake in King Lear is held by Total. The transaction is subject to approval by Norwegian authorities.

CMA CGM Mumbai Hits Quay in Mumbai Port

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Hong Kong-flagged Post Panamax containership CMA CGM Mumbai hit the pier at Jawaharlal Nehru Port, the largest container port in India, on Saturday, October 13, while anchoring.

The pier did not sustain significant damages, the Times of India reported, citing Nhava Sheva police officers. The ship’s bow was scraped in the collision, but the damage is minor.

The cause of the incident is unknown, however, initial findings indicate that a steering malfunction had occurred.

No injuries have been reported.

Scots publish offshore consenting ‘how-to’

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Marine Scotland has published a new manual to help developers prepare planning applications for offshore renewables projects.

The consenting and licensing guide covers offshore wind as well as wave and tidal energy schemes in Scottish territorial waters and further offshore.

All scales of development are covered by the manual.

Guidance updates and replaces the draft Marine Scotland Licensing and Consents Manual published in 2013, said Marine Scotland.

The guidance covers the consenting and licensing process from pre-application, through to application and post-determination (including post consent condition requirements), highlighting legislative and process requirements,” it added.

The new guidelines will be a “live” document and will be updated as policy and legislative changes are made.

Source:renews

H-Line Shipping places US$142 mln order with Hyundai Samho Heavy

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H-Line Shipping Co., a midsized South Korean shipping company, has placed an order worth about US$142 million for two bulkers with Hyundai Samho Heavy Industries Co., the oceans ministry said Friday.

The 180,000-ton vessels — powered by liquefied natural gas (LNG) — will be used on a route between South Korea and Australia starting from 2021, the Ministry of Oceans and Fisheries said.

The bulk carriers will be the first LNG ships in South Korea to sail on a foreign shipping route, the ministry said.

The government is providing funding worth 9.6 billion won for the project to help develop the emerging marine transport sector comply with the International Maritime Organization’s sulfur cap on bunkers, set to be enforced in 2020.

LNG-powered ships are considered an eco-friendly option to meet strengthened regulations, but high costs have posed challenges to private shippers.

South Korean shipyards have outstanding expertise in building LNG carriers and bunkering shuttles, but they are still in the early stages when it comes to LNG-powered ships and related bunkering infrastructure.

Hyundai Heavy Industries Co., the world’s largest shipbuilder by sales, owns 80.54 percent of Hyundai Samho Heavy.

Source:hellenicshippingnews

APM Terminals Bahrain installs three new Weighbridges at Khalifa Bin Salman Port

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As part of APM Terminals Bahrain continued efforts to upgrade the Khalifa Bin Salman Port (KBSP) infrastructure and provide increased efficiency and sufficient capacity for future export growth, the company has invested in installing three new Weighbridges to enhance its VGM (Verified Gross Mass) service offerings.

With the objective of streamlining operations, the new pit-mounted Weighbridges, includes a combination of fully and semi-automated weighbridges which will be located at three different points i.e 2 IN weighbridges at the entry gate and one OUT weighbridge inside the container terminal. This will be in addition to the two manually-operated Weighbridges currently operational at the terminal.

The new weighbridges are expected to ensure uninterrupted truck flows with streamlined operations. This will also enable container trucks to have smooth and safer access to the Weighbridge at road-level. They will be linked with the KBSP’s terminal operating system to automatically provide a VGM record for the container thereby reducing costs, risks and delays for customers. All trucks entering the terminal will have to be pre-registered and will be supplied with an RFID card by APM Terminals which the truck driver is required to swipe on entry and exit enabling generation of VGM.

Furthermore, with digital loads cells installed on the new Weighbridges to improve weight accuracy and minimal maintenance, this will also enable exporters to perform double transactions reducing the overall waiting and queuing time by trucks inside the terminal.

The new Weighbridges is yet another initiative from APM Terminals Bahrain to facilitate smooth trade flows in the Kingdom aligned with the government’s strategy on developing best in class national infrastructure that supports development of Bahrain’s maritime and logistics services that facilitates overall trade growth.

Source:APMTerminal

OOCL confirms 2020 low sulphur fuel surcharge

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Orient Overseas Container Line (OOCL) has confirmed plans for a 2020 low sulphur cap bunker surcharge.

OOCL is to comply with the sulphur cap by switching to low sulphur compliant fuels during the second half of 2019 ahead of the 1 January 2020 deadline. The container line said that it expects the additional cost of 0.5% or less compliant fuel to have impact “to easily fall well above half a billion dollars” a year for the company, with prices of low sulphur fuel driven up by the tight market.

Under the current industry environment and the level of cost involved to an industry that is already very cost-sensitive for survival, shippers and the consumers will need to prepare to shoulder this burden,” the Hong Kong-headquartered line said in a statement.

Michael Fitzgerald deputy cfo of Orient Overseas International Ltd (OOIL), parent of OOCL, said recently the cost should be passed and ultimately to the end customer – the consumer.

OOCL said would be introducing a bunker recovery charge based on a floating bunker formula taking into various factors into account, including the different fuel types being used, fuel price fluctuations, ship size and capacity, and vessel utilisation levels.

OOCL joins Hapag-Lloyd, Maersk Line, MSC, CMA CGM and Ocean Network Express in announcing plans for a new bunker surcharge to cover the additional cost of low sulphur fuel in the run up to, and after, the 1 January 2020 introduction of the IMO’s global 0.5% sulphur cap for marine fuel.

Source:seatrade-maritime

Availability of finance for consolidation and ‘green’ retrofits

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The availability of capital, both equity and debt, is a perennial discussion and has two particular areas of focus at present – for consolidation and green loans for retrofits to meet environmental regulations.

Capital Link’s recent “New York Maritime Forum” last week came at a time of major financing initiatives from listed companies, and with the whiff of merger transactions in the air. Speaker Mark Friedman, Senior Managing Director at Evercore, a long-time shipping banker, told the room, “Despite the scarcity of headlines, there’s actually a fair amount of consolidation that may be in the works.” He also suggested that: “In a capital constrained market, M & A is alive and well.”

Star Bulk, with its fleet of 111 vessels aggregating 12.7m dwt, listed with symbol SBLK, has been newsworthy on multiple fronts. It has indeed proven to be a successful “consolidator” (another regular topic) with its ship purchases using shares and cash. This is a big deal, demonstrating a major tenet of consolidation’s virtuous loop- that bigger companies’ shares are more liquid and thus highly regarded, and can be used as a currency to further increase the size of the company.

Star Bulk’s President, ex-banker Hamish Norton said that: “Our recent acquisitions have been driven much more by trying to serve the needs of investors, than by trying to develop internal synergies.” He continued: “What we would hope to do is to become a mid-cap company,” which defined as being “ideally $2 – $3bn of equity value being maintained through a down cycle.” Norton acknowledged that SBLK is not there yet. In the present part of the cycle, trending upward, the company’s market cap is approximately $1.4bn, based on recent share prices.

Very importantly, Star Bulk also proved another aspect of the virtuous loop, that the prospects for raising finance are better for larger companies. A just announced debt raise by SBLK, is also important because of its ties to SBLK’s decision to retrofit its fleet with scrubbers. The loan is described as a “$310 million loan agreement, which includes a $70 million tranche (the “Green Loan”) that will exclusively finance the procurement and retrofitting of scrubbers for up to approx. 50 vessels in Star Bulk’s fleet.

Star Bulk explained that the majority of the facility, some $240m, went towards refinancing outstanding debt on 26 ships in its fleet, running the gamut in size from supramax to newcastlemax. They said that the more newsworthy Green Loan Tranche has a margin of LIBOR + 280 basis points, and an amortization profile of four and half years.

Green Loans are a new development, with bankers having agreed on Green Loan Principles (GLP) earlier this year, which will hopefully bring standardisation that will enable the market to grow. Class Society DNV certified that the $70m tranche was in compliance with the GLPs.

Elsewhere the intersection of financing and scrubbers for listed companies also figures into the activities of Scorpio Bulk (SALT) and Scorpio Tankers (STNG). Shortly after announcing a major push to outfit its vessels with scrubbers, Scorpio Tankers then announced an equity raise of $300m- with its dry bulk cousin- SALT, curiously taking $100m of shares.

Evercore’s equity analyst Jon Chappell wrote, in a discussion of the equity raise, wrote: “Although the investment may prove shrewd, coming at a massive discount to STNG’s NAV at what we believe to be the trough of the product tanker cycle, SALT is now no longer a pure-play on the dry bulk shipping market recovery that we forecast, and for that reason we no longer believe that the shares deserve a premium multiple to the peer group.”

Source:seatrade-maritime