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Older Handy Product Tankers Could Soon be Scrapped due to IMO 2020 Rules

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As the 1st of January 2020 is edging closer, the effects of the IMO 2020 rule on burning cleaner marine fuels are bound to be diverse, across all ship classes.

One such case is the Handy product tanker range. In its latest weekly report, shipbroker Gibson said that “looking at the orderbook for Handysize product carriers (25-39,999 dwt), one might think that this size range presents an attractive investment opportunity, with just three vessels currently under construction; the lowest orderbook of any tanker asset class”.
According to the Gibson, “scrapping is clearly expected to increase. The average scrapping age for a Handy tanker is 26 years old and, with 25 vessels still trading over this age bracket, these units are prime candidates for demolition now. However, it may be a few more years yet before scrapping starts to accelerate, given that 90% of the fleet currently falls below 20 years of age. However, there are grounds to expect the average scrapping age to fall over the coming years, most notably from 2021 onwards. From 2001 through to 2011, an average of 30 Handies were delivered each year; as these vessels turn 20 they could face additional demolition pressures. Although we note that the average age for scrapping in this sector is 26, pending legislation could force early retirement. IMO 2020 for example will force these vessels to burn compliant fuels. Given the higher consumption of these older units, the incentive to scrap will increase; whilst the economics of installing scrubbers may also prove unattractive. Further, the need to install a ballast water treatment (BWT) systems makes the scrapping argument even more compelling. In short, without a new round of ordering, supply in this sector is set to decline, perhaps dramatically into the next decade”.

“But what about demand for the Handy tanker? Is that also projected to fall in line with fleet supply, justifying the lack of investment? Volumes of dirty cargoes carried on Handy tankers have shown a clear trend of decline in recent years (see chart) and there is little reason to expect this trend to reverse in the short term. Come 2020, short haul trade of fuel oil may decline as gasoil steals a slice of global bunker demand, further limiting the trading opportunities for the dirty Handies. However, as compliant fuel oils (considered a dirty product) gain traction, dirty Handies may see demand return, coinciding with a period of tighter fleet supply”, Gibson said.

The shipbroker added that “as the market dynamics evolve, some Handies trading in the dirty market may be forced to migrate into the clean sector (provided their tanks are in a suitable condition to do so). In effect reducing the negative demand impact for the Handy sector resulting from lower fuel oil demand, particularly if, as per our recent report dated 5th October 2018, the clean sector experiences a positive demand side boost. The older vessels which are not suitable for clean cargoes may however struggle to find employment”.
Meanwhile, “the fate of the Handy sector is also linked to that of the MRs (40-55,000 dwt). When the MR market is poor, those vessels will often compete for Handy cargoes, limiting the earnings potential of the smaller ships. Likewise, when MRs and the overall tanker sector firms, Handies are expected to benefit, even if not to the same degree as in previous years. Evidently, the future for this size class of tanker is probably the most uncertain of all”,

Source:hellenicshippingnews

 

Stewart Marine closes deal for Neptune Marine EuroCarrier 2611

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UK-based marine services company Stewart Marine has contracted Neptune Marine to build a new EuroCarrier 2611, which is to be named ‘Viking Energy’. To meet Stewart Marine’s operational requirements, Neptune will customise the 26-metre long workboat with a DP1 system.

Stewart Marine is based in Fife, Scotland. It offers marine services to the offshore renewables industry around the world. Talking after the contract signing, Owner Graham Stewart, said: “After several years working with Neptune’s EuroCarriers, I am very positive about the capabilities of the design – especially the manoeuvrability and handling. Moreover, our crews are very positive about set-up of the vessel.”

A bespoke vessel

“As well as my previous experience with EuroCarriers, we chose Neptune because of their flexibility,” Stewart continued. “For our project needs, we wanted to add DP1 and modify the deck lay-out and bridge system to just the way we believe it works best. Neptune has been very supportive in this process.”

The ‘Viking Energy’ fits in with Graham Stewart’s vision to deliver a broad range of marine services for the offshore renewables industry, including cable lay operations, subsea cable protection and offshore wind farm support.

“Wind and tidal renewable energy is the future and it is our goal at Stewart Marine to be part of many exciting new projects and concepts throughout the industry. Now we have an ideal vessel to offer our clients – the future is exciting and we are all looking forward to the arrival of the ‘Viking Energy’,” he said.

Years of experience

Neptune Marine has delivered many EuroCarriers throughout the years. “We have over 20 years of experience with (customized) EuroCarriers – they are high-quality and functional workboats that can be found in numerous sectors of the maritime industry,” says Paul Kriesels from Neptune.

“We are happy to welcome Stewart Marine as a new client. Their expertise within the maritime industry alongside the experience of Neptune has led to a fit-for-purpose vessel.”

The vessel’s DP1 installation is a prime example of the close cooperation between Neptune and Stewart Marine. “We have carefully configured this vessel together with Stewart Marine to achieve a truly functional vessel. This will allow vessel and crew to operate safely and effectively – and in various weather conditions.”

Cooperation

Neptune will build the new EuroCarrier 2611 at its yard in Aalst, the Netherlands. Delivery is scheduled for April 2019. “On-time delivery can only be achieved by effective communication and flexibility – what Neptune Marine is known for,” Kriesels concludes.

Japanese Shipbuilder Mitsui E&S Gains China Foothold

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China's Yangzijiang Shipbuilding has entered into a shipbuilding joint venture with Japan's Mitsui E&S Shipbuilding and and Mitsui & Co.

The new company will aim to build a globally competitive shipbuilding business by combining Yangzijiang's high production capacity, Mitsui & Co.'s sales capabilities and Mitsui E&S' advanced technology. The new venture will be located in Jiangsu, China, and is expected to commence operation in April 2019. The joint venture will launch with $99 million in capital. Yangzijiang will hold a 51 percent stake and the rest will be divided between Mitsui E&S and trading house Mitsui & Co. 

The move is a long-sought overseas foothold for Mitsui E&S, reports the Nikkei Asian Review, noting that competitor Kawasiki Heavy Industries has already formed a Chinese joint venture with positive results. Mitsui E&S also entered into a joint venture with Tsunesishi Shipbuilding in May. Tsuneishi has a shipyard in the Philippines and one in China, so this venture may also result in overseas production for the company.

The Mitsui and Yangzijiang joint venture is expected to start with the construction of bulk carriers before moving to more complex tanker newbuilds.

The shipbuilding market has suffered from intense competition for a number of years now, and Japanese yards had an all-time-low seven percent market share of orders in 2017. Labor costs in China are a third of those in Japan, reports Nikkei Asian Review.

Yangzijiang is maintaining earnings despite the tough market, said Mitsui E&S CEO Tetsuro Koga. "Bringing Japanese designs and construction technology to the partnership will let us build high-added-value vessels at low cost."

The trading house Mitsui & Co, which helped bring Mitsui E&S and Yangzijiang together, is expected to bring new customers in for the joint venture.

Source:maritime-executive

Norwegian Continental Shelf Gets First Unmanned Platform

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Equinor's Oseberg Vestflanken 2 field in the North Sea came on stream on October 14, and remotely operated from the Oseberg field center, the new Oseberg H platform is the first unmanned platform on the Norwegian Continental Shelf. 

The platform has no accommodation facilities – not even a toilet – and the topside is much lighter than other similar platforms at 1,000 tons. It is located in the North Sea about eight kilometers north-west of Oseberg field center in water depths of around 110 meters.

The 11 wells on Oseberg Vestflanken 2 will be drilled by the Askepott jack-up rig, with nine drilled through the Oseberg H platform and two through an existing subsea template. 

Maintenance campaigns will be carried out once or twice a year on the platform, and while the Askepottrig is drilling wells through the platform, the maintenance personnel will stay on the rig. Afterwards they will stay on a vessel hooked up to Oseberg H by a gangway.

The alternative to an unmanned wellhead platform would have been subsea wells. The new concept provides a competitive alternative in developing smaller discoveries, says Equinor. Equinor is planning to further develop the unmanned concept to reduce costs even further.

Recoverable resources from the Oseberg Vestflanken 2 field are 110 million barrels, and, coming in under budget, the break-even price has been reduced from $34 to below $20 per barrel.

“With the Oseberg Vestflanken 2 development we keep expanding the massive infrastructure at the Oseberg field. This is a key contribution to renewing and securing long-term Norwegian Continental Shelf activity,” says Arne Sigve Nylund, Equinor’s executive vice president for Development and Production Norway. Even after 30 years of production Oseberg will play an important role on the Norwegian Continental Shelf for decades to come, both as a major equity producer and as a hub for new additional volumes, he says.

Partners in the Oseberg Vestflanken 2 production license are Equinor Energy (49.3 percent), Petoro (33.6 percent), Total E&P Norge (14.7 percent) and ConocoPhillips Skandinavia (2.4 percent).

The field is expected to be productive until 2040. 

Source:maritime-executive

Watch: AIDAnova transferred through river Ems

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World’s first LNG cruise ship, AIDAnova, has been successfully transferred to Eemshaven, Netherlands. The 180,000 tonne ship was transferred along the river Ems.

On October 8, AIDA Cruises’ newest ship AIDAnova departed the Meyer shipyard in Papenburg, Germany.  AIDAnova passed the dock gate in Papenburg, the Friesen-bridge near Weener and then the Jann-Berghaus-bridge in Leer.

In Eemshaven, AIDnova will undergo the final sea trials.

AIDAnova is the world’s first cruise ship that will run on LNG and was christened in August this year. In fact, as NABU said, AIDAnova is the only newly built cruise ship that uses LNG.

The gigantic cruise ship will start its maiden season with voyages around the Canary Islands. However, before going to the Canary Islands, the ship will go to Hamburg, as on December 2, it will visit the Hanseatic City on the Elbe.

AIDA will take over the new ship from the Meyer Werft shipyard on 15 November 2018, in Bremerhaven. AIDAnova is 337 meters long and 42 meters wide, while it will be able to accommodate 6,600 passengers.

Source:safety4se

US Navy to install first 3D-printed metal part on warship

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On 11 October, the US Naval Sea Systems Command (NAVSEA) announced approval of the first metal part created by additive manufacturing (AM) for shipboard installation. A prototype drain strainer orifice (DSO) assembly will be installed on USS Harry S. Truman (CVN 75) in fiscal year 2019 for a one-year test and evaluation trial. The DSO assembly is a steam system component that permits drainage/removal of water from a steam line while in use.

Huntington Ingalls Industries–Newport News Shipbuilding (HII-NNS), which builds Navy aircraft carriers, proposed installing the prototype on an aircraft carrier for test and evaluation."This install marks a significant advancement in the Navy’s ability to make parts on demand and combine NAVSEA’s strategic goal of on-time delivery of ships and submarines while maintaining a culture of affordability. By targeting CVN-75 [USS Harry S. Truman], this allows us to get test results faster, so—if successful—we can identify additional uses of additive manufacturing for the fleet,"…said Rear Adm. Lorin Selby, NAVSEA chief engineer and deputy commander for ship design, integration, and naval engineering.

The test articles passed functional and environmental testing, which included material, welding, shock, vibration, hydrostatic and operational steam, and will continue to be evaluated while installed within a low temperature and low pressure saturated steam system. After the test and evaluation period, the prototype assembly will be removed for analysis and inspection.

While the Navy has been using additive manufacturing technology for several years, the use of it for metal parts for naval systems is a newer concept and this prototype assembly design, production, and first article testing used traditional mechanical testing to identify requirements and acceptance criteria. Final requirements are still under review.

"Specifications will establish a path for NAVSEA and industry to follow when designing, manufacturing and installing AM components shipboard and will streamline the approval process. NAVSEA has several efforts underway to develop specifications and standards for more commonly used additive manufacturing processes,"… said Dr. Justin Rettaliata, technical warrant holder for additive manufacturing.

Source:safety4sea

Test success for German floater

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German engineering company Gicon has completed tank testing of a model of its prototype floating wind turbine foundation.

The 1:50 scale model, which included a gravity anchor plate and electric motors, underwent transport and installation testing at the SSPA Maritime Dynamics Laboratory in Gothenburg, Sweden.

The tests included using the buoyancy of the gravity anchor plate to tow the structure, lowering the gravity anchor plate and pulling down of the unit, Gicon said.

It added that the latest analysis followed a series of wave tests in France last year.

University of Rostock scientific director of the offshore wind research group Frank Adam said: “In the coming months, we will evaluate all test results and compare them with the simulations.”

Source:renews

Antwerp Port on Track to Record Sixth Year

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Belgian port Antwerp said that throughput continues to register growth in the port. After record semi-annual figures, the total throughput after nine months stands at 177,026,550 tonnes – a sharp 6% increase compared with the same period last year.

With these results, the port seems to be on track for the sixth record year in a row. The recent wave of investments moreover confirms the port’s appeal and reaffirms its role as a world player.

Maritime throughput continues to grow. Container traffic registered robust growth yet again, up by 7.1%  (98,436,773 tonnes) compared with the first nine months of 2017. In terms of Twenty-foot Equivalent Units (TEUs), throughput grew by 6.8%, to 8,333,523 TEU.

All shipping areas registered growth, both imports and exports, with the sole exception of exports to Central America which registered a slight drop.

Throughput for the largest shipping area, Europe, registered the strongest growth: 12.4%. Throughput for North America grew by 8.2% and for Asia by 2.2%.  Imports from China after 8 months stand at the status quo more or less, while exports are 6.7% lower.  Owing to the Chinese import ban on old paper and plastic waste, export of full containers to China declined and more empty containers are exported.

Jacques Vandermeiren, CEO, Antwerp Port Authority: “2018 is already a peak year for our port. Not only because of the record figure that we can present yet again, but also because of the wave of investments in recent months.  The decision of major players in the chemical industry such as Borealis, Ineos, Nippon, Sea-Mol and Oiltanking/AGT to opt for Antwerp confirms and reaffirms our strong appeal as the largest chemical cluster in Europe."

"The significance of this wave of investments, to the tune of some €2 billion, cannot be stressed enough. They will make an essential contribution to the sustainable future of our port and to the continuity of our role as the biggest economic driving force of our country,” it added.

Port Alderman, Marc Van Peel,: “Sustainable growth for our port is possible only if we make sure that it remains accessible to people and goods. We are assuming our responsibility on this front, together with the port community.  The recent expansion of the route of the successful waterbus is a fine example of a structural solution to the mobility challenge. On the goods transport front, we are aspiring to a modal shift by 2030, with a drop in goods transport by road and an increase by rail and inland navigation.”

After a long period of negative figures, the total breakbulk throughput is showing the first signs of recovery once again and has posted a slightly positive figure.

The total Roll-on-roll-off lading grew by 5.6% to 3,960,845 tonnes. The number of passenger vehicles shipped after nine months grew by 4.1% while the number of lorries and other heavy rolling stock grew by 2.6%.

Source:marinelink

Panama Canal sees record annual cargo tonnage

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The Panama Canal closed its 2018 fiscal year (FY 2018) with a record tonnage of 442.1m Panama Canal tonnes (PC/UMS), a 9.5% increase from the previous year.

With this tonnage, the Panama Canal surpasses the cargo projections of 429.4m PC/UMS tonnes for FY 2018, as well as the 403.8 PC/UMS tonnes registered in FY 2017, Canal authorities said.

"The Panama Canal continues to exceed our expectations, reinforcing every day the importance of the waterway's expansion and its impact on global maritime trade," said Panama Canal administrator Jorge Quijano. "This is the results of the efforts of our committed workforce who made this an extraordinary year."

The increase was driven by the transit of liquefied petroleum gas (LPG) and natural liquefied gas (LNG) carriers, containerships, chemical tankers and vehicle carriers.

The container segment continued to serve as the leading market segment for tonnage through the Canal, accounting for 159m PC/UMS tonnes of the total cargo, of which 112.6m PC/UMS tonnes transited the expanded Canal. Tankers – which include liquefied petroleum gas (LPG) and liquefied natural gas (LNG) carriers – represented the following market segment with 130.3m PC/UMS tonnes.

The next leading segments included bulk carriers (73.7 M PC/UMS tonnes) and vehicle carriers (49.5m PC/UMS tonnes).

In terms of cargo tonnage, the main routes using the Panama Canal in FY 2018 were between Asia and the US East Coast, the West Coast of South America and the US East Coast, the West Coast of South America and Europe, the West Coast of Central America and the US East Coast and inter-coastal South America.

The main users during FY 2018 were United States, China, Mexico, Chile and Japan. A total of 62.8% of the total cargo transiting the Canal has its origin or destination in the United States.

Source:seatrade-maritime

ClassNK releases ClassNK MRV Portal (IMO DCS)

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Leading Classification Society ClassNK granted an Approval in Principle (AIP) based on its Rule Tokyo – Leading Classification Society ClassNK has released “ClassNK MRV Portal (IMO DCS)”, a software service for the reporting, monitoring and verification of shipping CO2 emissions in line with the IMO DCS regulations that will come into effect in 2019.

The implementation of fuel consumption data reporting regulations has been ongoing in an effort to reduce GHG emissions and the EU-MRV (European Union – Monitoring, Reporting, Verification) regulations for ships operating in the EU area began in 2018. The upcoming IMO DCS regulations require all globally operating ships over 5,000GT to collect fuel consumption data and create an annual fuel consumption data report to submit to their flag administration or recognized organization for verification.

“ClassNK MRV Portal” was launched in 2017 to facilitate compliance with EU MRV regulations, and has now been updated to support IMO DCS. The software consists of on-board data sending functions, an on-shore data management system, and also a function for submitting an annual fuel consumption report. Moreover, the software is capable of efficiently connecting with third-party packages or in-house logbook software without any added on-board tasks and allows users to submit necessary data reports to ClassNK through the system.

Speaking on the occasion, Corporate Officer, Director of Survey Operations Division Yoshinori Kozeki said: “We are very excited and proud to offer this major update to our ClassNK MRV Portal software solution. There is no doubt that the added convenience will prove beneficial to users, and the industry will now be able to smoothly respond to the upcoming IMO regulations.”

Instructions on how to register and further details of the software are available through the link below for those who will begin gathering data to comply with IMO DCS. Users of “ClassNK MRV Portal” for EU-MRV can use the software for IMO DCS without any additional registration.

Source:ClassNK

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