DAILY COLLECTION OF MAR ITIME PRESS CLIPPINGS 2016 – 070

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2016 – 070

Distribution : daily to 33.750+ active addresses 10 -03-2016

Number 070 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Thursday 10-03-2016

News reports received from readers and Internet News articles copied from various news sites.

Earlier this week you could see several photos of vessels anchored at the Batu Ampar anchorage off Batam – Indonesia made during my trip with the PAYBAR DELTA last Saturday, today Jan de Nul’s eyecatching TSHD VITUS BERING is featured Photo : Piet Sinke © CLICK at the photo !

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EVENTS, INCIDENTS & OPERATIONS

Spliethoff’s ERASMUSGRACHT seen moored in in the Quarlesharbour in Vlissingen.

Foto: Hans van der Linden www.facebook.com/Aerolinphoto (c)

Boskalis bags Abu Dhabi pipeline gig Royal Boskalis Westminster N.V. has been awarded a contract from the National Petroleum Construction Co. of Abu Dhabi, UAE for dredging work related to the installation of an offshore gas pipeline of the Abu Dhabi National Oil Co. as well as to an existing offshore gas pipeline. The activities are due to commence in Q1 2016 and will be executed

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in phases with completion expected in 2H 2017.Boskalis will dredge a trench for the installation of the new offshore gas pipeline over a total distance of more than 50km between Das Island and Ras Al Qila onshore Abu Dhabi. For this project a medium-sized trailing suction hopper dredger and a large cutter suction dredger will be deployed as well as backhoe dredgers for dredging in shallow waters. Following its installation, the pipeline will be backfilled. In addition, Boskalis will be backfilling an existing offshore pipeline with sand over a total distance of 34km with a trailing suction hopper dredger. This pipeline is located in the vicinity of the new pipeline. Source: oedigital

The 2007 build 90 mtr long 205 ton bollard Pull Chinese tug DE ZHOU anchored off Singapore as spotted last Sunday Photo : Piet Sinke © CLICK at the photo and hyperlink in text !

Dredging resumes after Maguindanao clashes Dredging at a flood control project in Maguindanao has resumed after being stalled by elements of Bangsamoro Islamic Freedom Fighters (BIFF) who were later subdued by the military after over a month of clashes in Datu Salibo town This was disclosed by Lt. Col. Warlito Limet, commander of the 2nd Mechanized Infantry Battalion, who said that the construction site has been cleared of improvised bombs left by the BIFF in the villages of Butalo and Tee, Datu Salibo town in Maguindanao. Limet told reporters that clearing operations for booby traps will continue in other areas but the dredging site has been completely cleared of bombs so construction works have resumed. On Friday, dredging equipment like backhoe and dump trucks moved into the village of Butalo, escorted by the military’s armored personnel carriers. Limet said the project will benefit the people once it is completed. “We cannot understand why the BIFF was opposed to it,” he told reporters. On February 5, the military launched offensives against the BIFF, with the support of two MG-520 attack helicopters, to drive away about 100 heavily armed BIFF armed men. The month-long offensives claimed the lives of four soldiers and wounded about 30 others. Four civilians, including the town treasurer of Datu Salibo, were killed when the BIFF set off a roadside bomb. Military officials could not say how many BIFF members were killed or wounded during the hostilities. Civilians in Datu Salibo claimed about 40 BIFF fighters were killed and 20 others wounded. “But we cannot confirm that, we have no body count, but for sure they have casualties,” Capt. Joann Petinglay, regional Army spokesperson, said. On Thursday, a decomposing body of a man was found in the village of Tee believed to be BIFF fighter based on his fatigue uniform with BIFF logo. Datu Salibo Mayor Norodin Salasal said the P58-million dredging project implemented by the national government was supposed to have started December last year, but was delayed by road right of way (ROW) claims of residents. “I have talked to all the lot owners where the project was to be built and the government have paid them,” Salasal told reporters. “All claims have been settled,” he added. After the ROW claims issue were settled, the project commenced on February 5. But the BIFF torched two backhoes, triggering a firefight between the rebels and government forces. Members of Philippine Marines and Army Special Forces, who have the expertise in water and land operations, were deployed in Maguindanao marshland as perimeter defense of the dredging project. Limet said some of the displaced families have returned to their communities after the Army cleared the area of improvised bombs and hoisted a Philippine flag there. Others may return later as de-mining operation was still ongoing, he said. Source: manila bulletin





TSHD VITUS BERING ANCHORED OFF BATAM ISLAND

The TSHD VITUS BERING anchored at Batu Ampar Anchorage

On August 10, 2006 the international dredging contractor Jan de Nul Group signed a contract with the South-Korean yard Heun Woo Steel Co. Ltd. To construct two 7 500 m³ trailing suction hopper dredgers. To be named VITUS BERING and AL IDRISI One of the

vessels was the replacement for the 7 000 m³ CRISTOFORO COLOMBO, which was lost during a typhoon in September 2004. Vuyk Engineering Rotterdam prepared the main constructional drawings as well as diagrams for

the dredging, machinery and general service systems on board. The dredger is is having a length of 119.1 mtr and breadth of 23.0 mtr and loaded draft of 8.15 mtr The 2012 commissioned VITUS BERING is equipped with an 2000 kW suction pump is capable to dredge in waterdepths upto 46 mtr, furthermore installed in the engine room are two mainengines of 4000 kW each which engines are giving the dredger a max speed of 14 knots onboard is accommodation for 21 persons, the vessel is equipped with : • One row of box-shaped bottom doors • One shallow water dumping door • Self-emptying system • Bow discharge Photo’s : Piet Sinke © CLICK at the photo’s !





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Marco Polo’s AHT MP PREMIER spotted last Saturday anchored with loaded barge at the Singapore Western Anchorage Photo : Piet Sinke © CLICK at the photo and hyperlink in text !

Completed Fin stabilizer Retrofit installation

The STENA ALEGRA seen arriving in Picton during a southerly storm and being assisted by the tug MAUNGATEA.

Photo : Dianna Robjohns ©

Mitsubishi Heavy Industries Marine Machinery and Engine Co., Ltd have delivered 177 sets of their own developed retractable fin stabilizer for ferries and Ro-Ro vessels in the world since their first delivery in 1989. This time, MHI-MME is pleased to announce that their first retrofit projects have completed and those vessels successfully entered service.


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The retrofit projects are for a ferry named “FAST FERRIES ANDROS” owned by Greece ship owner, Cyclades Fast Ferries Shipping Company and a Ro-Ro vessel named “STENA ALEGRA” owned by Sweden’s Stena Rederi AB. Both vessels have completed their installation work at docks and sea trail in July, 2015 and have already been in service. “FAST FERRIES ANDROS” operates on the routes connecting Rafina port in Greece and remote islands in the Aegean Sea such as Andros, Tinos or Mykonos. Although Cyclades Fast Ferries Shipping Company have not applied fin stabilizer to their fleets so far, they have decided to apply our fin stabilizer type “MR-1” in order to reduce the vibration during operation. Stena Rederi AB have decided to apply our fin stabilizer type “MR-2” in order to resell “STENA ALEGRA” to a ship owner who intends to operate the vessel in the areas near New Zealand where the tidal condition is very severe.Installation work at the dock and their operation in the sea were very smooth and their performances were as effective as planned. MHI-MME will continuously provide fin stabilizer for retrofit projects for resale, change of the operation route or improvement of quality of service for shipping. Source: Mitsubishi Heavy Industries Marine Machinery & Engine Co., Ltd. (MHI-MME)

Fiji accedes to key marine environment protection treaties

Fiji has 8 Februar acceded to six IMO treaties, including important conventions covering ballast water management and the control of harmful anti-fouling systems on ships. This brings the number of States party to the Ballast Water Management Convention to 49, with an aggregate of 34.82% of the world's merchant fleet tonnage (based on global tonnage data as at end-February 2016). H.E. Mr. Jitoko Tikolevu, High Commissioner Fiji to the United Kingdom, met IMO Secretary-General Kitack Lim to deposit the instruments of accession. The full list of treaties acceded to by Fiji today is as follows: - the International Convention for the Control and Management of Ships' Ballast Water and Sediments, 2004 (BWM 2004); - the Protocol of 1978 relating to the International Convention for the Prevention of Pollution from Ships, 1973, (MARPOL 73/78); including acceptance of Optional Annexes IV and V to MARPOL 73/78; - the International Convention on Salvage, 1989 (SALVAGE 1989); - the International Convention on Civil Liability for Bunker Oil Pollution Damage, 2001 (BUNKERS 2001); - the International Convention on the Control of Harmful Anti-Fouling Systems on Ships, 2001 (AFS 2001); and - the Convention on the International Mobile Satellite Organization, as amended (IMSO C 1976).

Maersk just made the first official drone delivery to an undocked ship

By Russell Brandom

Maersk announced it has made the first official drone delivery to an undocked ship, as reported by G-Captain. The test took place near the Kalundborg port in Denmark, and saw a small drone dropping a parcel more than 15 feet to the deck of an unmoored tanker. The initial plan was to launch the drone from shore, but inclement weather meant it had to be launched from a nearby tugboat.It's part of a larger exploratory project for Maersk, which operates the largest tanker fleet in the world. Docking a large tanker ship is both expensive and time consuming, so supplies are typically delivered by barge. But those deliveries are expensive, often running thousands of dollars for a single delivery. If a drones could handle the most urgent of the deliveries, typically those involving mail, spare parts, or



medicine, it could represent a huge savings for the company.The company is still a long way from putting that idea into practice. For now, the main goal of the test is to make sure the drones won't add any new risks to the complex environment of a moving tanker ship. "It is fundamental that any drones used by Maersk Tankers are safe for the environment they are operating in," supply chain manager Markus Kuhn told G-Captain. "They must be certified as intrinsically safe for most tasks, so they cannot create any spark, even if they were to crash." Source: theverge

The Swedish sea-rescue vessel BRORSTROM seen moored in Käringön (Sweden)

Photo: Johan Luijks Offmain 24/7 Response ©

Are we kidding? What is really happening in the offshore marine market?

Several Bourbon vessels laid up in Batam (Indonesia)

Photo : Piet Sinke © CLICK at the photo! When reading the proliferation of magazines and news sites, one gets caught up in the volume of news affecting the state of the shipping and maritime sector in general. It could be said that there is a degree of confusion as to what is really happening in this sector, particularly the state of the shipbuilding / OSV market in terms of capacity and availability of key assets.

Headlines such as Huake Wushou Offshore ordering two new rigs; Otto Marine wins newbuild contract out of Indonesia and so on suggest an upside in the sector. These are good news stories, and deserve mention, but they also mask what is happening. They are counter-intuitive to headlines that read as follows: Petrobras Cancels Havila OSV charter; Petronas Delays Second FLNG and so on.




I think that it is human nature that we tend to focus on the positive and in all likelihood cling to any good news to show that our sector is immune from the current malaise or as us Aussies would say – “she’ll be alright”. So what is the current situation in the offshore oil and gas marine service sector?

The following indicators suggest that it is in dire shape and that the headwinds are getting stronger:

· Moody’s has downgraded six major offshore rig providers (Ensco, Diamond , Transocean, etc) as they see oversupply and cutbacks in capex and opex by majors;

· Global offshore spend is set to decline significantly, with the big impacts being Western Europe (19%), SE Asia (17%), US (20%);

· The majors are cutting back capex, with ExxonMobil down (20%), Conoco Philips (30%), BP (16%), Chevron (12%);

· Of the 433 odd existing rigs, only 58% (250) are under contract;

· There are 183 idle jack-ups, 56 of which are cold stacked;

· The two most impacted areas are the shallow waters of the GOM (31% decline in rig utilisation) and SE Asia (38% decline);

· Average charter rates are down, between 20% and 40% – in the jack-up market beyond 375 ft rates are down by as much as 38%;

· Of the 97 jack-ups under construction, only 11 have contracts and more importantly, 63 have had delivery dates extended;

· BW Offshore cutting staff levels by 35%;

· General charter rates in the OSV markets have fallen by 27% since January 2015;

· Only 96 offshore fields discovered globally in 2015, down 19% on 2014;

· Only 68 offshore fields started in 2015, down by 41% on 2014;

· The OSV market has declined by 11% between 2014 to end-2015;

· The oversupply of OSV vessels with 198 new vessels expected to enter the market.

So what does 2016 look like?

The newbuilding MMA PRESTIGE seen fitting out last Saturday at the Jaya yard in Batam Indonesia

Photo : Piet Sinke © CLICK at the photo!

We can also expect to see a number of mergers and acquisitions taking place in the first half of 2016, particularly as companies move to consolidate their cash positions and try and improve their liquidity profile. Companies will have to re-evaluate their order backlogs and asset values as banks and fund managers try and ascertain the real value of a company. Currently it can be argued that these elements are overstated. This process has begun with a number of




companies having to report impairment charges to their balance sheets, some of which have taken companies over the lending comfort criteria particularly when one looks at the debt / equity ratios and leverage levels.

We can also expect to see an escalation of scrapping and lay-ups with an expectation of 340 AHTSs and 254 PSVs being laid up. This will bring into question the benefits / costs of cold vs warm stacking as companies seek to reduce operating expenses.In conclusion, the market faces significant headwinds and we can expect to see many current operators exit the market. Those that can consolidate their balance sheets reduce working capital will survive and possibly pick up some bargain purchases. Companies with strong management teams that have sound judgement will thrive, but these are few and far between. Source: Splash 24/7

CMA CGM bonds tumble to near-record lows on earnings collapse

CMA CGM BERLIOZ arrives in Rotterdam and waits for the leaving CMA CGM LAPEROUSE to make some room.

Photo: Peet de Rouw © CLICK at the photo ! CMA CGM SA bonds plunged to near-record lows after the container-shipping line's quarterly profit collapsed on lower freight rates. The company's 725 million-euro (S$1.1 billion) bonds due January 2021 fell 4 cents on the euro to 74 cents, according to data compiled by Bloomberg. Fourth-quarter earnings before interest, tax, depreciation and amortization tumbled 72 per cent to US$115.7 million, said Arndt Muthreich, an analyst at Stifel Nicolaus in London. He derived the numbers from full-year results reported by Marseille-based CMA CGM late on Monday.The world's third-largest container line is adding debt to support the pending S$3.38 billion acquisition of Neptune Orient Lines Ltd., even as a prolonged slump in shipping rates weighs on earnings. Container lines are struggling to raise fees after a boom in Chinese shipbuilding led to a capacity glut."The outlook remains bleak, at least until this summer, while the group is wrapping up the biggest acquisition in its history," said Delphine Chauvin, an analyst at Oddo & Cie. in Paris. "Given continued pressure on freight rates, we anticipated a sharp fall in results." The shipping line didn't reply to an e-mail request for comment on the earnings.The company plans to pay for the purchase of Neptune Orient through cash and financing from a group of banks, according to a Dec. 7 statement. It intends to raise more than a $1 billion through steps including cost-cuts and asset sales within two years of closing the deal. The shipping line's 300 million euros of notes due December 2018 lost 2 cents to 87 cents. Annual Ebitda fell 2.8 per cent to US$1.3 billion, according to the earnings statement. Revenue dropped 6.4 per cent decline to US$15.7 billion, even with a 6.3 per cent increase in container volumes. Source: straitstimes

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Paragon Offshore received dayrate increase for drilling rigs in Gulf of Mexico

By: Svilen Petrov Paragon Offshore rigsParagon Offshore received increase in dayrate on its drilling rigs in Gulf of Mexico, operated by the country’s state oil company Pemex. The jack-up rig PARAGON M842 received increase of daily charter rate to 112,000 USD from previously 70,000 USD. The dayrate increase is valid since January 2016 to early March 2016, as returning the rates previously slashed to 70,000 USD in July 2015. The rig’s periodic class survey, which originally was scheduled for the first quarter of 2016, will be deferred. The rate increase is welcome for Paragon Offshore, which is under Chapter 11 bankruptcy due to high unpaid debt and liquidity problems. The company is working on prearranged deal to cut 1.1 billion USD debt from its balance sheet and restructuring of 2.7 billion USD debt.“Paragon Offshore inked a new agreement with Dana Petroleum from early March to early April. Dana is using the rig for drilling operations on the exploration well, Manatee-1, on Bakassi West, offshore Cameroon. The rig was previously under a contract with Perenco”, said Paragon Offshore in official statement.The jack-up rig Paragon M826, which charter contract with PanAfrican Energy Tanzania, ended in mid-February will be deployed to UAE for drilling operations during the next 6 months. The contractor name and more details were not disclosed. Source : Maritimenews

Tug Challenger Removal, Destruction Commences

Removal of the pilot house on Tug CHALLENGER began after the tug was successfully relocated to the Rock Dump. Global Diving and Salvage, Inc is providing oversight of the complete destruction and removal of the tug which is being performed by Southeast Underwater Services of Juneau. Since the tug sank in September and through last week’s abatement process, the following hazardous materials and petroleum products have been recovered: 437 gallons of petroleum product, 1,540 gallons of oily water, 550 pounds of hazardous waste (includes paint, fire extinguishers, waste oil, polyester resin, grease), 1 lead acid batteries and 2,893 pounds of materials containing asbestos. Petroleum products

have been properly disposed of by Southeast Alaska Lighterage. Household hazardous materials, paint, and batteries were brought to an approved City & Borough of Juneau hazardous material facility for disposal. Recyclable metals are being delivered to Skookum Sales & Recycling. All remaining materials will be brought to the Juneau landfill.“We remain vigilant as we move into the final phase of this operation,” said Bob Mattson, state on scene coordinator. “A 24 hour security watch of the tug has been established so that we can continue to ensure the safety and welfare of response personnel as well as the local community and environment.” The destruction of Tug Challenger will continue throughout this week with crews working during the day and at night. Source: Military.com

Ship live photo : The NYK HERCULES inbound for Rotterdam-Europoort.

Photo / Film Cees van der Kooij © CLICK on the photo !


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Mammoet Uses Elebia Hooks to Unload Panamax Vessel

Posted by Michelle Howard International lifting and transport specialist Mammoet used 5t capacity automatic hooks from Elebia to keep riggers at safe distance and speed-up discharge of 1,000 industrial-sized ‘big bags’ from a Panamax ship at a port in

Westdorpe, Holland in January. Mammoet, which has its own multi-purpose terminal further north at the mouth of the Ghent Canal in Terneuzen, will unload approximately 30,000t of bulk from the vessel every six weeks, as freight business continues to sprawl away from larger Antwerp ports further east. The hooks operate from 1m chains that hang beneath a 20-foot-long, 50t multipurpose spreader, manufactured by Tec Container from Madrid providing the ability to handle a variety of cargo. To utilize the potential of the Elebia hooks, Mammoet and Tec attached the rig to a container spreader lifted by a Liebherr LHM 500 harbour crane. Mammoet, which oversees storage and handling of stainless steel coils, containers

and other kinds of cargo in the region, uses the Liebherr for lifting the bags with the Elebia remote-controlled hooks, while a Terex GHMK 7608 B harbor crane is utilized for bulk handling. Robin Hamelink, yard coordinator, Mammoet, said, “Safety is always our number one priority and Elebia’s hooks fit that ethos. A thousand bags was a landmark discharge, but our customer is anticipating that we will need to take responsibility for an increase in bulk handling from their Panamax vessel in the short-term future, so we needed to implement a material handling system with increased demand in mind even at the outset.” During the latest 14-hour discharge, Mammoet rigged the spreader so 12 1,000kg bags were lifted at the same time. This can be increased to 21 bags at once if all 14 Elebia hooks are employed to grab the large loops on top of each bag, eliminating the need for slings or additional rigging equipment. The evo5 hooks feature Elebia’s remote control system, eMax, and include a full color liquid-crystal display (LCD) screen, offering the user a variety of information about the lifting application, including weight, hook status and alarms that alert the operator to overload or unbalance situations. Hamelink, who discovered the hooks during online research, added, “The solution is centered around application of the Elebia hooks and allows us to meet the demands of unloading a great volume of big bags with only three people required in the ship’s hold. Beforehand, we also required up to three people on the quayside for unhooking where now only one person operates the remote control.” A lead rigger and two Mammoet personnel in the hold communicate via radio with the crane operator to place the bags directly onto trailers before they are transported to a factory and unloaded by forklifts. The Liebherr LHM 500 has

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a radius of 51m and a maximum capacity of 140t. It is known for its versatility and flexibility especially in general cargo handling with continuously changing operating appliances and handling methods. Source: Marinelink

Beached barge in Victoria may stay for weeks A barge carrying debris from the Coho ferry terminal remains beached on the Dallas Road Waterfront. “It’s big and a big eyesore right now,” said Cory Mason, who came to check out the sight. It’s been sitting here now for five days, and Monday there were no signs of progress, no work being done to

remove the vessel.“It’s a lot bigger than we actually anticipated. I’m wondering how they are going to get it out of here,” Mason said.Last week Wednesday night, two barges came loose from their tugboat near Clover Point, sending the two vessels to the shoreline The first barge contained fuel and was cleared the next day. It’s now at the Point Hope Shipyards being repaired But barge number two is still stuck. A boom is in place to contain any material that may have fallen into the waterThe Transportation Safety Board said they are working with the owner, Heavy Metal Marine, to create a salvage plan. The company is on the hook for all cleanup costs, including costs for the Coast Guard.“The marine surveyor is still assessing the damage and once Transport Canada has a salvage plan, we would review it and approve it and as long as the weather is favourable for a safe operation then the barge will be removed from the beach,” said Jillian Glover, Transport Canada spokesperson. That could take days, and perhaps even weeks. “I don’t have a timeline but ideally we would like to do it as soon as possible,” she said. Transport Canada will be inspecting the tug and its operator to see if there were any violations of the Canada Shipping Act. Part of the investigation will include whether the tug operator was certified. For now, the vessel is attracting visitors who also want to know why this happened. Source: cheknews

The FELISON CRUISE TERMINAL in Ijmuiden with seen Boskalis offshore’s CONSTRUCTOR and on the right seen

the BOLD TERN Photo : Peter Herweijer ©





J Lauritzen sells its last capesize vessel Denmark’s J Lauritzen has sold its last capesize vessels, marking its exit from the market. Today, brokers say Lauritzen has sold the Korea-built Churchill Bulker (179,400 dwt, built 2011) to unknown buyers for $37m. On July 23, the company reportedly sold its capesize Corona Bulker (179,400 dwt, built 2011 in Korea) to Greece’s Marmaras Navigation for $33.6m. The Danish shipowner’s fleet now consists of 20 handysize bulkers, with four ultramaxes and two more handys under construction at Japanese and Chinese shipyards.The prices paid for Lauritzen’s two capes show that buyers are still prepared to pay a slight premium for quality Korea-built tonnage. Although it was built in the same year as Lauritzen’s pair, this week Ningbo Henghou received just $30.5m from Cobelfret for its cape Houheng 2 (179,900 dwt, built 2011), which was built at Hanjin’s Subic Bay yard in the Philippines. Another four-year-old cape built in Korea, the Blue Cho Oyu (180,100 dwt, built 2011), was sold on Tuesday by South Korea’s Blue Marine to Israel’s Mano Maritime for $33.5m.Today also saw a rare demolition deal amid a stagnant scrapping market. Vale sold its capesize Ore Alegria (160,100 dwt, 21,687 ldt; built 1997) to buyers in Pakistan for $330/ldt or around $7.16m in total. Source : Splash 24/7

MOCE’16 connects companies and jobseekers The registration for the Maritime & Offshore Career Event (MOCE) is going full speed ahead. That is not a

surprise, because more than 100 top companies from the maritime and offshore industry will come togetheratthe WTC Rotterdam on the 20thApril looking for ambitious starters and experienced professionals. Visiting MOCE will not only prepare visitors for the maritime and offshore labour market, it also helps professionals with the next step in their career. This will be the tenth time we have organized the Maritime & Offshore Career Event and so, specially for this jubilee edition, the organization offers visitors a wide program. The visitors can attend various business presentations of exhibitors for example about actual projects and case studies. In the ‘MaritiemeVacaturebank.nl cube’they can also have their CV checked and learn what is needed to be successful when applying for a job.

In new sessions this year Middle Point will be giving training on how to apply for a job. Above all the exhibition floor will be a fully filled with many old friends, including Heerema, IHC, Tideway, Scaldis, Boskalis, Van Oord, Jan de Nul, TWD, Fabricom, SBM Offshore and GUSTOMSC. HR managers and recruiters of the various companies are ready to welcome you. Come prepared to find a new job or make a career move because in the past 10 years MOCE has helped many of our visitors to make this happen.This inspiring day will end with a business drink. Open for exhibitors and visitors this isa good moment to network and close the day with old and new friends from 17.00 to 18.00 hour at WTC Rotterdam.

Visitors can register for this career and networking event via the orange button on www.MOCE.biz . On the website you will also find information about the Maritime & Offshore Career Event 2016, the program and the list with exhibitors. Participating as an exhibitor is still possible.

Maritime & Offshore Career Event 20th of April 2016, WTC Rotterdam Free entrance! 10:30 t/m 18:00 hrs www.MOCE.biz www.facebook.com/navingomoce

NORSAFE ABERDEEN GROWS ITS BUSINESS Since Norsafe Aberdeen opened for business last July, its UK offshore clients have benefitted from having a service station in close proximity. The new station provides maintenance support for its clients’ current ships and rigs as well as winning some important new business projects with major players in this sector. One notable business win by the UK site last month was with Prosafe, the world’s leading owner and operator of semi-submersible accommodation

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vessels, who signed a 5 year service contract with Norsafe AS on 12th January 2016. The UK site is run by Director Ronnie Vettese who has over 10 years’ experience in the maritime sector, having previously been Divisional Director at First Integrated Solutions, provider of a range of services to the oil, gas and marine industries. Mr Vettese is pleased with how positively the new location has been received by clients and wants to build on this success and grow the business in the UK.“I am delighted with how well the new UK site has been received, centrally located as it is near our key offshore clients, and I look forward to working closely with them now and in the future,” said Mr Vettesse “Norsafe is so much more than a global lifeboat designer, manufacturer and maintenance provider. We also produce a quality range of Military and Professional boats, multi-purpose workboats and daughter craft along with a comprehensive range of davits and hooks,” he added. All Norsafe boats are designed, built and equipped to comply with SOLAS regulations and its new three tiered CARE Plan service agreement has been designed to suit clients with varying maintenance requirements and budgets. For more information on Norsafe’s range of products and services contact: [email protected] or call 01224 502580.

Independent Consultants and Brokers in the International Tug and Supply Vessel market (offices in London and Singapore)

Telephone : +44 (0) 20 8398 9833 Facsimile : + 44 (0) 20 8398 1618

E-mail : Internet : www.marint.co.uk

Boskalis: strong full year result in difficult market

HIGHLIGHTS OF 2015 • Revenue: EUR 3.24 billion (+2%) • EBITDA: EUR 885 million (-6%) • Net profit: EUR 440 million (-10%) • Order book: EUR 2.49 billion • Proposed dividend: EUR 1.60 per share

OUTLOOK • Continued market weakness due to low oil and commodity prices • Enhanced opportunities in offshore wind market

Royal Boskalis Westminster N.V. (Boskalis) achieved net profit of EUR 440 million in 2015 (2014: EUR 490 million). Revenue rose by 2.3 per cent to EUR 3.24 billion (2014: EUR 3.17 billion). Adjusted for consolidations, deconsolidations and currency effects, revenue was stable. EBITDA amounted to EUR 885 million and the operating result (EBIT) was EUR 563 million (2014 EBITDA: EUR 946 million and EBIT: EUR 652 million). From an operational perspective the result for 2015 was even better than the2014 record result, which included a large number of exceptional items of EUR 200 million on balance before taxation. Dredging & Inland Infra achieved a high fleet utilization rate and good resultson projects in progress. The large Suez Canal project, which was completed successfully in 2015, made a significant contribution to both revenue and earnings. Offshore Energy also had a good year and despite the deteriorated market conditions earnings increased slightly, partly helped by the strong US dollar. The good result was driven by good utilization of the equipment and goo project results. Towage & Salvage saw a decline in the result on balance compared to the previous year, mainly as a result of deconsolidation effects at Towage. Froman operational perspective Salvage can look back on a very busy and successful year.

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In the course of 2015 Boskalis increased its stake in Fugro N.V. from 19.9 to 28.6% at end-2015. The revaluation gain from the first half of the year wa reversed as at end-2015, as a result of which the Fugro stake is now recognized at EUR 16.15 per share – virtually equal to the average purchase price. The order book fell to EUR 2,490 million (end-2014: EUR 3,286 million).

Boskalis Offshore’s UNION LYNX outbound from Rotterdam – Photo : Henk van der Heijden ©

Peter Berdowski, CEO of Boskalis: “We look back on a very successful year in which we achieved excellent results across the entire business. While the storm was gathering strength outside, we had an exceptionally busy year with many impressive projects. At Dredging, with projects such as the expansion of the Suez Canal – a project of unprecedented scope that was delivered on time and within budget. At Offshore Energy, where we were actually able to beat our record year of 2014. Salvage, too, had one of its busiest years ever, with prominent projects such as the removal of the wreck of the Baltic Ace from the access channel to the Port of Rotterdam. The stormy conditions outside are also increasingly being felt within our company. Falling prices for oil, gas and commodities are also taking their toll in various market segments we operate in. Volumes and prices are under pressure, which is also translates into our order book. Conditions that require us to steer a different course and demonstrate helmsmanship. We are tightening up the fleet and the organization and are alert to respond to the opportunities the market continues to present – opportunitie in existing market segments as well as opportunities created by adjusting our playing field and extending it to growth markets. A good example of this is the acquisition of VolkerWessels’ offshore activities,which substantially strengthens our position in the growing offshore wind market. Our fleet, organization and balance sheet put us in an excellent position to weather the storm with reason and consideration and come out of it even stronger.” Market developments The megatrends on which the Boskalis business model is based continue to apply. These are global population growth and increasing prosperity. However, the timing and momentum with which these trends translate into promising projects varies widely from region to region. In a number of regions and markets where Boskalis is active these trends are developing less favorably in the short and medium term, making the outlook uncertain. Boskalis continues to focus on market segments that display structural growth in the longer term whilst also offering opportunities in the short term: Energy (oil, gas, wind and the decommissioning of old offshore platforms), Ports and Climate change-related projects (coastal defense and riverbank protection). In the past 18 months the oil price has fallen by approximately 75% to USD 30-40 per barrel. Prices of numerous commodities have also dropped by around 50%. Players in these markets have invested heavily in production capacity, but in the meantime there has been a substantial drop in demand, partly because the Chinese economy has moved onto a much lower growth path than predicted. Many investments in the oil and gas industry have now been scaled down or put on hold. Against this backdrop short-term developments in the Dredging and Offshore Energy segments have become more unpredictable. There is a reluctance to invest in major new port and offshore-related projects. Despite this the global megatrends on which our strategy is based remain unchanged. Global population growth is fueling sustained structural demand for our land reclamation




and infra activities. Climate change is forcing governments on several continents to take steps to protect their populations against flooding and rising sea levels. This will result in growing demand for integrated sustainable solutions for complete maritime infrastructures. Moreover one of the positive developments for Boskalis arising from the extremely low oil price is that many old offshore oil and gas rigs are now being taken ou of service and decommissioned. The following underlying trends also remain favorable for Boskalis:

• demand for larger and deeper ports with associated infrastructure to accommodate larger oceangoing and other vessels with deeper drafts, despite current expectations for the slower growth in seaborne trade;

• demand for energy and the associated increase in offshore exploration and production, also in vulnerable regions, which in turn increases the need for sustainable solutions;

• the greater focus on climate-related issues partly as a result of the Paris Agreement (COP21), which creates opportunities such as new offshore wind farm projects and potentially greater demand for coastal defense and riverbank protection projects.

Outlook In the coming period the general market conditions will be characterized by lower volumes of work and pressure on utilization rates and margins. At Dredging & Inland Infra the emphasis will be on maintaining utilization rates at responsible levels of project risk. With the current orders in hand a good part of the fleet is utilized for 2016, albeit at lower margins than in previous years. The picture at Offshore Energy remains mixed. A number of long-term contracts and work already contracted provide stability for part of the fleet, but the spot market-related transport activities and subsea services are experiencing pressure on utilization rates and margins. The offshore wind market presents new opportunities, partly through the recently announced intention to acquire offshore activities of VolkerWessels. By the end of this year all the Towage activities will have been transferred to joint ventures. Market volumes in this segment are relatively stable, although competition is expected to increase here, too, especially in terminal services To respond to these market developments we have launched a fleet rationalization and cost reduction program. It is expected that equipment will be taken out of service at both Dredging and Offshore Energy with the associated implications for staffing levels. In addition, we are taking a critical look at reducing the cost of the global office network. The project-based nature of a significant part of our activities, in addition to the uncertain market conditions, makes it difficult to give a specific quantitative forecast with regard to the 2016 full-year result early on in the year. It is, however, clear that net profit will be substantially lower than the very strong 2015 result. Capital expenditure in 2016 is expected to be approximately EUR 200 million, excluding acquisitions, and will be financed from the company’s own cash flow. Boskalis has a very sound financial position an the solvency ratio has increased to 56%. The good result and lower net debt position has further reduced the net debt : EBITDA ratio to 0.4.

New rail shuttle and state visit to France all in one week

The two-day state visit to France by King Willem-Alexander and Queen Máxima will be commencing today, 10 March. The visit will take place in the week prior to the start of the regular Rotterdam – Dourges rail shuttle. For the time being, this service will be operating five times a week and, via Dourges, will connect Rotterdam to the whole of France. The new shuttle service is a cooperative venture between the Rotterdam company, Shuttlewise, and the French company Novatrans. Through the connection to the terminals in the Port of Rotterdam, France will gain access to short sea and deep sea destinations. There are also plenty of developments in the inland shipping sector, which will not only be beneficial to logistics service providers in Rotterdam, but also to French

shippers. In April, the inland shipping container connection between Rotterdam and Lille/Dourges will be starting, with



several sailings per week. In addition, funding for the new Scheldt-Seine connection has now been settled. The project will commence in 2018 and will be finished in 2021. All these developments create opportunities. In order to inform all the parties involved about this, the Rotterdam Port Promotion Council will be organising a Port of Rotterdam Seminar & Business Event in Lille on 26 May. In the meantime, the innovative Rotterdam Port Connector website will make it easier for international companies to get in touch with service providers who are active in the Port of Rotterdam or who are located in the network of satellite ports and inland terminals that are connected to Rotterdam. During the Royal couple’s visit, the focus will lie on the further deepening of economic, cultural and European ties between the Netherlands and France. The King and Queen will be in Paris at the invitation of the French President, François Hollande, and their visit will be a follow-up to the official visit made by Hollande to the Netherlands in January 2014. More information: www.rotterdamportconnector.com

3rd March 2016 of the CSC NELSON towing the BAILEY TAYLOR from Durban Harbour. To the breakers ?

Photo : Neville West ©

Newbuilding “drought” is still the norm in the shipping market

The trend set since the start of the year, when it comes to newbuilding investments has kept up over the course of the past week, according to the latest shipbrokers’ reports, as compiled by Hellenic Shipping News Worldwide (www.hellenicshippingnews.com). In its weekly analysis, Allied Shipbroking noted that “the major drought continues on the newbuilding front, with only one order surfacing this past week and even that is rumored to be an older option exercised now by the buyer”. The shipbroker added that “at the same time prices are now looking to be further under pressure and quoted figures (though at this stage only quoted and without any concluded business substantiating their levels right now) looking to be under a further downward correction. What’s most worrying at this point is that things have also halted on the tanker market in terms of new orders, with shipbuilders now struggling to attract interest there despite having decreased their price ideas. Beyond the often discussed state of the freight market and prevailing market uncertainty, a major factor behind the extensive order drought noted of late has been the increased difficulty noted in securing financing for new orders. Beyond the fact that most financiers are turning their back on the newbuilding market, there is increased difficulties faced by shipbuilders themselves in tying up any finance provision on their side due to the financial difficulties they themselves face”. In a separate newbuilding report, Clarkson Platou Hellas noted that “in tankers, Y-Entec (Korea) has announced placing an order at Pha Rung Shipbuilding for one firm 6,500 DWT IMO-II Chemical Tanker. This single unit is set to deliver in June 2018 from the yard’s Hai Phong facilities. The Vietnamese shipbuilder is reported to have received an

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additional order from BS Shipping for two firm 6,500 DWT IMO-II Chemical Tankers for delivery within 2018. In Dry, although contracted back in 2015, it came to light this week that Fednav have placed further orders at Oshima Shipbuilding with an additional four 34,500 DWT Bulk Carriers. These four units are reported to be delivered in 2018 and will be lakes fitted. In other sectors, Flensburger (FSG) announced new contracts for two firm 4,000lm ROROs – both understood to be for delivery within the first half of 2018 with the end use yet to be confirmed Finally, Shenzhen Pengxing Shipping have ordered one 338 GT and one 400 GT Fast Passenger / Catamaran Vessel at Afai Southern Shipyard for delivery in January and April 2017, and each contract have an option for one additional unit”, said Clarkson Platou Hellas.Separately, in the S&P Market this past week, Allied Shipbroking noted that “further to our last week’s report, please note that the price quoted for the three Supramax “Chang Cheng Guo” units quoted, the price is in RMB and not in US$. i.e. the units were sold for US$ 6.55m and US$ 8.25m respectively. On the dry bulk side, things were slightly quieter this past week with limited vessels reported and interest focusing slightly more on the larger sizes. At the same time most of the units reported were in or around the 10 year old age group and several, while in terms of prices things were looking to be on the softer side. On the tanker side, there was good volume being reported, while here too the focus seemed to have shifted onto the larger size groups. Prices are still on the decline though most of the recently concluded units are in the early 2000’s built range, which have been partly influenced by the softer scrap steel prices”.Meanwhile, in the demolition market which, once more, had gained in significance, Allied noted that “a combination of factors was behind this week’s further pickup in scrap prices offered, providing optimism as to how well prices will be able to hold during the whole of the first half of 2016. The announced government budget levels gave the preliminary trigger to the surge in interest amongst end buyers, while the clearing up of previously beached vessels allowed for the extra growing appetite to kick off with some slight willingness to speculate on the up side. On the side of the sellers, sales candidates have been minimized for the time being, while the slight positive movements noted in the dry bulk freight market, signaling a lack of interest for some to indulge on the scrapping option at the currently prevailing prices offered. At the same time it looks as though there is a sense of further improvement in sight, with many cash buyers showing up in this weeks ship recycling forum in Dubai with an essence of optimism as to the course the market will take in the near-term. As to how well placed these perceptions are, only time will tell. For the time being we will just have to make due with the positive uptick being noted and hope it will last over the next couple of days”, Allied Shipbroking concluded. Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide

The PACIFIC HICKORY inbound for Rotterdam with 2 barges from Shanghai – Photo : Henk van der Lugt ©

Busy preparing ourselves for AsianPacificMaritime. We'll be there stand E-L27. We love to see you there!

Live export by sea from Australia – an ethically unsustainable trade

Dr Sue Foster, spokesperson for Vets Against Live Export, explains why the recent article in Splash by Alison Penfold, CEO of the Australian Livestock Exporters’ Council misrepresents the truth about animal welfare during live export


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Vets Against Live Export, which has 200 members, is unique. It is the only grouping of independent veterinarians who feel so strongly against a single animal welfare issue that they have banded together to voice their objections. As veterinarians, our motivation is to speak out where we see that animal welfare is being threatened and as scientists we are able to objectively review knowledge and information relevant to assessing animal welfare. Most importantly, we are independent of either those who make money out of the live export trade, or the government Department of Agriculture, whose role is to support the trade.The live export trade is not governed by Australia animal welfare laws. If domestic Australian animal cruelty law applied even to the shipboard part of the process, we believe the trade would have to stop tomorrow. The law that does apply to a live export voyage does not make it an offence to be cruel to an animal, as does our local law. Rather, the focus is on keeping numbers of deaths down. The industry focuses heavily on the mortality rate as being the key indicator for animal welfare. When they show a reduction in deaths, they promote themselves as having high welfare standards. Our view is that the known and reported facts concerning what happens to animals on live export ships means that an unacceptable number of animals routinely suffer poor welfare, including starvation, trauma and disease. As the 2004 Keniry Report, commissioned after the Cormo Express disaster said, live export is an ‘inherently risky business’.The problems of overcrowding, extreme climatic conditions and the stress of a long sea voyage are compounded by the complete absence of independent reporting. Ms Penfold claimed that all livestock on live export ships are monitored by veterinarians. This is not true. The majority of live export voyages do not have a veterinarian aboard; there is no legal requirement for a veterinarian’s presence. The welfare of the animals is left to stock persons. Even on the voyages where there are veterinarians on the ship, those veterinarians are chosen and employed by the exporter. In our view, there is good evidence that exporters lean on veterinarians not to make adverse reports about animal welfare. In any case, even when veterinarians have made adverse reports to the government, our view is that the Department of Agriculture has glossed over those reports, sometimes making a scapegoat of the veterinarian involved. Finally, the idea that one veterinarian and one or more stock persons (at most – the legal requirement is for one) can effectively look after the welfare of over 60000 animals – which could be the number of sheep on one of these ships – is, in our professional opinion, nonsensical.

SK Shipping dismisses wrongdoing on tax evasion By Lee Hong Liang from Singapore

South Korea’s SK Shipping has been reportedly investigated by the local authorities for tax evasion, but the company has denied any wrongdoings, the local media reported The Korean shipowner confirmed the probe by the National Tax Service (NTS), but claimed that it is just a regular check. “The tax authorities’ move appears to be part of the regular tax audit of our company,” SK Shipping spokesman Hong Chang-hyo told The Korea Herald. “We are giving necessary documents to the tax authorities and are also holding meetings to respond to their questions.” The tax investigation, which started on 25 February, is expected to carry on until mid-May.The Korea Herald claimed that the shipping unit under SK Group is being conducted by the NTS’ fourth division, which specialises in large companies’ tax evasion cases. NTS has declined to comment on the probe, the news report said. Source: seatrade-maritime

Brent Breaks $40/bbl, But Glut Warnings Persist

Analysts think an improved attitude towards risk assets overall is the real reason for the oil rally. Equador has joined the ranks of oil producers vowing to correct the calamitous global market, and analysts are citing this as a contributing factor to Brent closing at $41.04 on Monday, a 2016 peak and 51 percent above the January 20 12-year low of $27.10.U.S. West Texas Intermediate futures also climbed, by 4 percent, to $37.90 per barrel.

Oil's rally began last month shortly after Russia and members of the Organization of the Petroleum Exporting Countries (OPEC) announced it would freeze their output in a bid to stop the global oil price slide; Brent's 5 percent gain on Monday comes after Guillaume Long, foreign minister to Ecuador, said his government will host a meeting this week in Quito with Venezuela, Colombia, and Mexico "to reach consensus over oil, especially prices."Monday's gains also follow rumours that OPEC producers are considering a new oil price equilibrium of around $50, according to New York-based consultancy PIRA.Kokou Agbo-Bloua, global head of flow strategy and solutions at Societe Generale, believes $50 will be the target achieved later in 2016 and told CNBC: "There is clearly room for the stabilization of the oil price at these levels and some marginal upside towards the end of the year."Phil Flynn, analyst at Price Futures Group in Chicago, said all this activity is "feeding bullish sentiment into a market that's turned 180 degrees from where it stood just weeks ago."However, other analysts think an improved attitude towards risk assets in general is the real reason for the oil rally; Elizabeth Volynsky, oil analyst at Morgan Stanley, warns that "Oil fundamentals remain challenging. "Prices



can continue to rally on headlines and a U.S. dollar pullback, but the upside should be limited by bloated global inventories and producer hedging.Volynsky added that "we worry that this latest oil bounce shares many features of the oil rally in the second quarter of 2015, which ultimately resulted in disappointment." Other observers have expressed their skepticism about the efficacy of production freeze talks, with Phillip Futures recently stating that "We continue to believe that if prices were to be artificially supported with production cuts it would only give more expensive forms of production more room to breathe and would only solve the problem in the short term." Source: Ship & Bunker News Team

Eagle Bulk gets another three days Nasdaq-listed supramax specialist Eagle Bulk has extended its forbearance and standstill agreement with its creditors by a further three days to give it more time to find a solution to the money it owes in loans.The forebearance period commenced on Sunday and will expire at 23:59hrs on Tuesday night. This is the fifth time Eagle Bulk has extended the period with its creditors. Eagle Bulk’s lenders, which are being led by ABN AMRO Capital USA, have agreed to waive the minimum liquidity covenant set forth in the loan agreement until March 8 or until “the occurrence of any event of default under the loan agreement other than a specified default”. Under the terms of the previous extension agreement, filed on March 1, the forebearance period would terminate if the shipping company’s liquidity fell below $12,187,500 or $276,989 per ship. Eagle Bulk was required to maintain higher levels of liquidity in the previous forebearance period extensions made earlier this year.The New York-based company today said the new extension “is intended to provide the company with additional time while discussions with certain of its shareholders and lenders with respect to such financing alternatives are continuing”. It added that financing could not be guaranteed and that the standstill period may yet be extended again.The creditor agreement relates to a $275m exit financing facility Eagle Bulk secured from its lenders in October 2014, which comprised a $225m term loan and a $50m revolving credit facility. The financial restructuring aimed to boost Eagle Bulk’s balance sheet and liquidity after the shipowner filed for Chapter 11 bankruptcy in August that year. Source: Splash 24/7

Maersk: 2M Stable amid Alliance Turbulence Vincent Clerc, Chief Trade and Marketing Officer for Maersk Line, has stated that although the shake-up of three of the main alliances will have an effect on beneficial cargo owners, there may be a silver lining for them in the long-term as it will depend on the network choices of each alliance, according to the Journal of Commerce. Mr Clerc said: “The redesign of networks of the magnitude they are talking about will be disruptive for the customer in the short term because if a carrier moves from one alliance to another, both alliances need to redo their networks.“Capacity will vary from week to week for a while and products will change and so on. But in the long run, it all depends on the network choices that each of the alliances makes, so it could be good.”It was previously reported that China Shipping and Cosco’s new entity COSCOCS had recently come into operation, which has caused a big shake up among the existing alliances.Despite this, Mr Clerc is positive that Maersk’s 2M alliance with MSC will be unaffected. He said: “The 2M is stable and will remain stable and will continue to work when the alliance shakeup is being discussed.“It’s a sign that the industry is under a lot of pressure to find cost savings and synergies because the rates are under pressure. “In an industry where scale benefits are an important component of production costs for a lot of lines, the incentive to pursue mergers and acquisitions has increased and you are seeing this play out now.” The dynamics of the shipping market have recently taken another turn, as third-largest shipping line CMA CGM announced that it is set to form its own mega-alliance with Hong Kong based shipping line OOCL, Evergreen and COSCOCS, which will further complicate the market.The new alliance is currently looking to add another two shipping carriers to its line-up, which is anticipated to provide them with an additional three million TEU. Source: porttechnology

The Liability Of The Shipowner Egypt is one of the first countries, which accessed the London International Convention 1976 on Limitation of Liability for Maritime Claims; the Egyptian Maritime Trade Law No. 8 for the year 1990 was regulated exceedingly in accordance with the London International Convention 1976. The concern of the marine navigation in Egypt is due to Egypt’s featured site which joins three continents Europe, Asia and Africa, along with the Suez Canal with its strategic role in maritime navigation. Maritime Trade Law No. 8 for the year 1990 regulated the problems that could be raised concerning maritime navigation including the ship owner responsibilities (Articles 80-90). The Shipowner Liabilities: Undoubtedly, the owner of the ship has a liability for his own actions; the owner of the ship also has a tort liability for the actions of the ship’s captain, crew, sailors, pilot and any other person in the service of the ship if such actions took place during or resulted from the performance of their duties.



He also has a contractual liability for the captain’s obligations ensuing from contracts concluded within the limits of his legal powers. The Shipowner Liability Determination Rights: Maritime Trade Law No. 8 for the year 1990 (Articles 81 and 82) set the shipowner right to determine his liability regarding the debts. In some cases, he has the right to determine the liability and in other cases which have been stipulated by Article 82 he does not have the right to determine the liability. The shipowner shall not insist on determining his liability if the claimant proved that the damage results from an act or refraining from an act by the shipowner or his deputy with the aim of causing the damage or by an indifference and recklessness with the knowledge that such damage may happen. 1- According to Article 81, the shipowner has the right to determine the amounts of his liability whatever the type of such liability is; regardless whether the debt is in favor of the state or a public person, if the debt is resulting from the following reasons: a) Damages caused by the ship to the harbour’s installation, dockyards, water courses, or navigational aids; b) Physical and material damages occurring on board the ship, or those connected directly with maritime navigation or the operation of the ship; 2- Article 82 stipulated that the shipowner shall not insist on the determination of the responsibility, if the debt is resulting from any of the following reasons: a) Floating a sunken or stranded or deserted ship, lifting its wrecks and lifting its cargo and objects found on it; b) Salvaging the ship; c) Participating in joint loses; d) The rights of the ship’s captain and crew and all other persons subservient to the ship shipowner who happen to be working on the ship or whose job is related to serving the ship. Also, the rights of successors and heirs of such persons; e) Nuclear damage; f) Damage resulting from oil pollution and contamination by other materials. The Determination of the Amounts Resulting from the Shipowner Liabilities: Under the Maritime Trade Law, any agreement concluded before occurrence of the accident related to the debt and its subject is the determination of the shipowner liability with amounts less than the undermentioned amounts shall be null. The Maritime Trade Law makes a distinction between claims arising because of physical damages and claims arising for reasons other than physical damages. Claims arising because of physical damages: The liability of the shipowner in the case of physical damages if the total tonnage of the ship does not exceed 500 tonnes, shall be determined by 600,000 EGP; in case the total tonnage of the ship exceeds the before mentioned amount of tonnes, the liability shall be increased by 350 EGP per each exceeded ton. The Egyptian law gave concessions to the physical damages claims; which are if the amounts assigned to the physical damages are not adequate to fulfill the liability in full; these damages shall have their share in the amounts assigned to other non-physical damages. Also physical damages have precedence over other damages in distributing the amounts to compensate for these other damages. Claims arising because of other than physical damages: The liability of the shipowner in the case of non-physical damages if the total tonnage of the ship does not exceed 500 tonnes, shall be determined by 300.000 EGP; in case the total tonnage of the ship exceeds the before mentioned amount of tonnes, the liability shall be increased by 150 EGP per each exceeded tonne. The amounts assigned to non-physical damages which are resulting from one incident shall be considered as one unit for the payment of the compensation of this incident; this is regardless the debts resulting or could be resulted from another incident. The Shipowner debts: In cases where a debt became payable to the shipowner before one of the creditors in one accident, in accordance to the law, the determination of the liability shall not be applicable except to the remaining amounts from a set-off of the two debts. Also, the creditor has no rights to take any procedures on the shipowner properties, if the creditor placed his hands on the compensation amounts or if the shipowner summits a guarantee and the courts accepted this guarantee. And, in cases where the ship owner settled one of the debts that supposed to be distributed before the compensation amounts distribution; he has the right to take the place of the creditor in the distribution by the amounts that he before settled, beside that the shipowner may ask the court to keep part of the compensation amounts which are appropriate to the settlement of the shipowner debt.



Extinctive prescription of the claims: The claims of the shipowner liability shall be lapsed after two years from the date of the action which established the shipowner’s liability; the validity of the two years’ period will be interrupted by sending a registered letter with acknowledgment of receipt, or receiving the documents which are related to the claims, or delegating an expert to assess the damages. Source: Youssry Saleh & Partners

Contango plays could eventually arise in the VLCC tanker market says shipbroker

Traders continue to keep a watchful eye to take advantage of any opportunities to exploit contango play, but (so far) the synergies required to make this happen remain elusive. Even short term contango employment is hard to square as all of the dynamics required for this to happen need to move together. For the time being, floating storage demands will continue to rely upon to logistical problems. However, the issue is not going away, it’s just got parked in another place. The recent announcement by a handful of OPEC members and Russia not to increase production has done nothing to ease the current oil glut which translates into doing little to stem the downward pressure on the oil price other than a temporary uplift. According to Gibson, “for contango based floating storage play to take place, the discount in oil prices for prompt delivery has to deepen relative to forward assessments, a drop in timecharter rates would also help. The last significant floating storage took place 2009-10 when we witnessed a very different scenario from what we are seeing today. Back then the world had just entered into the economic slump following the banking collapse in the autumn of 2008. As a result, OPEC was continually revising oil demand as the crisis took hold. On the supply side 2009-10 saw 113 VLCCs delivered as a result of the glut of ordering through the tanker market boom years 2005-08 when we believed that the BRIC economies would drive forward crude demand. Following the banking collapse, floating storage cushioned the impact of the tonnage surplus, providing owners with an additinal income stream ahead of the recovery albeit at ‘more challenging’ time charter rates. Back in 2009/10 the average 1 year VLCC timecharter rate was around $37,500/ day”, said the shipbroker.Gibson notes that “today’s picture is very different. Crude production is at record levels, with no indication of a slow down. While US production is slowing, crude stocks levels in the US are at their highest since records began. Back in 2010 (Jan-Apr), most floating storage took place in the Gulf of Mexico, not surprisingly, today there is none. Today, floating storage is mostly for operational reasons (not contango based) or in the long term fuel oil storage hub in the Singapore/Malaysian region. Also there is some limited storage in the Middle East Gulf, in addition to the Iranian NITC positions. On the supply side, we have witnessed only moderate fleet growth over the past year or so which has notably lifted timecharter rates. Of course, the strength of the tanker market since the oil price shock commenced in June 2014 has led to more brisk investment which will result in a spurt in fleet growth starting in the second part of this year”.According to the shipbroker, “naturally owners are keen for the return of this phenomeon, particularly if the crude tanker spot market continues to soften, with the resulting influence on timecharter rates. Owners will continue to pursue storage options in their charterparties, as they did in January 2015. Very few of these options actually ended up loading cargo to store. However, if overproduction persists and the delivery profile impacts on spot rates, we could witness an increase in demand for floating storage in the second half of this year – but will it be contango based play? Either way, whether contango floating storage materialises or not,

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whilst prompt oil prices remain below the forward assessments, this sets the floor to short term VLCC rates”, Gibson concluded. Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide

Coast Guard Suspends Search For Texas Man Who Fell From Ship

The U.S. Coast Guard has suspended its search for a Texas man who fell from a cruise ship near Florida’s Key Largo. Coast Guard officials say 46-year-old David Mossman fell from the 10th deck of Royal Caribbean’s NAVIGATOR OF THE SEAS ship late Friday. The fall was a distance of about 100 feet. On Sunday, the Coast Guard had almost doubled its search coverage area, but the efforts were futile. Chris Eddy, search-and-rescue technical specialist at the Coast Guard 7th District, said, “Unfortunately, despite our best efforts and an exhaustive search, our crews were unable to locate him.” Eddy says the decision was made with “great care and deliberation.” A helicopter and plane were used in the search, which the Coast Guard says covered 2,583 square nautical miles. Source: CBS

CASUALTY REPORTING

Bunker Barge Catches Fire Off China's Dalian Anchorage

A bunker tanker, Bo Feng You Gong 10, caught fire Monday while loaded with 600 tonnes of diesel and 40 tonnes of bunkering oil at the anchorage off of Dalian, China, local media reports. The fire is reported to have started in one of the crew cabins, later engulfing the whole superstructure and accommodation compartment.Five crew members are said to have safely evacuated the ship to a life raft after successfully closing the vessel's valves to prevent ignition of the fuel on board. The Maritime Safety Administration (MSA) in Dalian is said to have dispatched six vessels to fight the fire, putting the fire out within six

hours with the help of several nearby fishermen.No bunker spillage been reported as a result of the incident, although the vessel will continue to be monitored for potential leaks.The vessel is said to be owned and operated by Shanghai Bofeng Petrochemicals Co., Ltd. In February, Ships & Bunker reported that about 39 metric tonnes (mt) of low sulfur MGO were said to have been stolen from the 176,346 DWT NORD POWER while it was in the Tianjin outer anchorage on January 1, 2016. Source: Ship & Bunker News Team

2 Indian Seafarers Killed After Fire in UAE Vessel

Two Indian seafarers were killed and three others injured after a fire broke out in a vessel – AL SADAA - in Yemen.One of the injured – Atul Borker – is a resident of Chennai and his condition is said to be critical. He has been



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admitted to Sultan Qaboos Hospital Salalah in Oman, External Affairs Minister Sushma Swaraj said. The boiler explosion on the Panama-flagged vessel took place on Sunday. Built in 1994 at the Chungmu Yard, Al Sadaa is owned by a UAE-based industrial group.“We have lost two Indian sailors Mahesh Kumar Rajagopal and Deepu Lathika Mohan due to fire in a vessel Al Sadaa. The three injured have been admitted in a hospital in Salalah, Oman. Our missions in Djibouti and Oman are providing all assistance,” Swaraj tweeted. The minister, in a series of tweets, informed that the condition of Alauddin from Lucknow and Tajveer Singh from Ghaziabad is stable, while Chennai’s Atul Borker is critical.“The three sailors injured in Yemen are all Indians. They are admitted in Sultan Qaboos Hospital Salalah (Oman). Alauddin (Lucknow) is out of danger. Tajveer Singh (Ghaziabad) is stable, while Atul Borker (Chennai) is critical. Our mission in Oman is providing all help,” Swaraj said. Source: Express News Service

NAVY NEWS

The Turkish Submarine DOLUNAY S-352 visited Malta – Photo : Michael Cassar ©

Norway seeks collaborative development for new submarine

By Richard Tomkins Norway is seeking to collaborate with other countries to develop and build a new submarine, the Norwegian Ministry of Defense said The partnering would reduce Norway's development costs for the vessel, which will replace the country's Ula-class submarines."The Ministry of Defense is currently leading the work looking at procurement of new submarines, the ministry said. "The project is in its definition phase. This phase will be completed in the first half of 2016, when the external quality review is completed." No supplier for new submarine although discussions are being held with a number of shipyards.The Ministry of Defense said discussions with several nations are also being held. Norway and Germany already have collaborated on submarines in the past, so "Germany is therefore a nation which it is natural for Norway to discuss a potential future submarine cooperation with."In addition to operational and purely defense-related matters, industry will play an important part in a future submarine cooperation. Additional information of talks with other countries were not disclosed.source: UPI

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Chinese naval escort fleet returns from mission in Somali waters

A Chinese naval fleet returned from an escort mission in the Gulf of Aden and Somali waters on Tuesday to a military port in Sanya City in the southern island province of Hainan, the PLA Daily reported Wednesday. The fleet, the 21st since December 2008, when China sent its first escort squad to the Gulf of Aden and Somali waters, was composed of the guided-missile frigates Liuzhou, Sanya and the comprehensive supply ship Qinghaihu. They left for the mission on August 4, 2015. During the mission, it escorted a total of 65 Chinese and foreign ships and observed 56 suspicious vessels.The fleet also visited Pakistan, Sri Lanka, Bangladesh, India, Thailand and Cambodia, and carried out joint anti-piracy drills with the naval forces of nations including the Republic of Korea and Denmark.The newspaper said the fleet had conducted practical exchanges with foreign militaries, deepening mutual trust and friendship. Source: Xinhuanet


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SHIPYARD NEWS Bollinger Delivers 17th FRC to the USCG

Bollinger Shipyards has delivered the USCGC DONALD HORSLEY, the 17th Fast Response Cutter (FRC) to the United States Coast Guard (USCG). CLICK at the photo! The Coast Guard took delivery on March 5, 2016 in Key West, Fla., and is scheduled to commission the vessel in Puerto Rico during May, 2016. The 154-foot patrol craft USCGC DONALD HORSLEY is the 17th vessel in the Coast Guard's Sentinel-class FRC program. To build the FRC, Bollinger used a proven, in-service parent craft design based on the Damen Stan Patrol Boat 4708. It

has a flank speed of 28 knots, state-of-the-art command, control, communications and computer technology, and a stern launch system for the vessel’s 26 foot cutter boat. The FRC has been described as an operational “game changer,” by senior Coast Guard officials. Each FRC is named for an enlisted Coast Guard hero who distinguished him or herself in the line of duty. This vessel is named after Coast Guard Hero Donald Horsley. Master Chief Petty Officer Donald H. Horsley was the recipient of the Bronze Star with combat “V” device for his leadership of Division 13 of Coast Guard Squadron One during the Vietnam War. Bollinger’s president and CEO, Ben Bordelon, said, “We are very pleased to announce the delivery of the latest FRC built by Bollinger Shipyards, the USCGC DONALD HORSLEY, to the 7th Coast Guard District in Puerto Rico. We are looking forward to honoring and celebrating the heroic acts of Donald Horsley at the vessel’s commissioning.”

ROUTE, PORTS & SERVICES

Sarnia Harbour set to undergo $2-million dredging project By Barbara Simpson, Sarnia Observer

More improvements are planned for the Sarnia Harbour in the coming months.

City officials are gearing up for a $2-million dredging project in an effort to ensure water depths remain adequate for commercial shipping traffic accessing the harbour for berthage, repairs and cargo transfers. Environmental studies have indicated 25,000 cubic feet of silt will need to be dredged, said Peter Hungerford, the city's director of economic development and corporate planning. But relocation plans for the sediment still need to be determined before dredging can began in the harbour this year. The city is also preparing for a $450,000 upgrade to the electrical services located at the west end of Seaway Road.During the winter months, lay-up vessels are dependent on the harbour's power services. Last year, the city started electrical improvements to the harbour by replacing some transformers.“Once that's done, we'll have a reliable source of power and we'll be good for 20 to 30 years,” Hungerford said Sunday. Hungerford offered up the update on the city-owned harbour during the annual mariners' service held at St. Paul's Anglican Church Sunday.Often referred to as the “sailors' church,” St. Paul's tin steeple used to help guide ships into

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the St. Clair River by reflecting the light coming from the Fort Gratiot lighthouse.The church's steeple guided ships from 1868 until 1902 when the church was relocated from the corner of Livingston and Victoria streets to Michigan Avenue. Every year St. Paul's still holds a mariners' service before the start of the navigation season, attracting sea cadets, Canadian Coast Guard members and guest speakers to honour those who did and continue to work and serve on the waters.For Hungerford, the invitation to be this year's guest speaker couldn't have happened at a better time with the city's harbour ownership anniversary coming up later this month. “We've had the harbour for almost two years now,” he said.The harbour includes the government and east docks behind Paddy Flaherty's, the north slip at the end of Exmouth Street, and the Sidney Smith Wharf and nearby warehouses located on the Point Lands.The federal government transferred the harbour as part of an $8.7-million divestiture deal with the city in March 2014. But the roots of a city-owned harbour trace back two decades when the federal government first broached the subject of a divestiture with the municipality. “Back in the middle of the 1990s, I would never have thought it would be a 20-year process,” Hungerford said. City politicians were steadfast over the years in their desire to secure $8.7 million for the harbour to cover off anticipated maintenance costs, as well as legal expenses. Some of those funds have already been used for harbour improvements, including the installation of energy-efficient fixtures at the north slip and the remediation of two warehouses containing asbestos. “We've had a busy couple of years,” Hungerford said. Last year, 85 commercial vessels and the Canadian Coast Guard utilized the harbour, drawing in revenue of $550,000 from berthage fees, electricity sales and leases. With more improvements afoot for the harbour, Hungerford said he's looking forward to seeing how the future of the harbour will unfold.“It's amazing how the waterfront has changed and to imagine what changes will happen next.”

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MOL Breaks Ground on New Maritime Academy Mitsui O.S.K. Lines, Ltd. announced that on March 8, it held a groundbreaking ceremony for a new merchant marine

academy in Salitran,Dasmariñas City, the Philippines. It will be jointly established with Magsaysay Maritime Corporation (MMC), MOL’s partner in the Philippines, and is scheduled to open in June 2018.

A large audience was on hand for the groundbreaking ceremony, including special guestsfrom the city of Dasmariñas andfrom the Commission on Higher Education (CHED); from MOL, Chairman Koichi Muto and Senior Managing Executive Officer Masaaki Nemoto. Everyone in attendance prayed for the safe completion of the construction project.

In 2007, MOL started an onboard training program with its own instructors and crewmembers aboard its training ship Spirit of MOL with the objective of training seafarers to uphold MOL’shigh standards of vessel safety. In 2011, MOL

introduced a 3rd Year Program under the Philippine government’s Academe-Industry Linkage Program at the Magsaysay Institute of Shipping,established by MOL and MMC in 1993. The programprovideseducation and training to third-year students selected from partner maritime schools in the Philippines.Filipino seafarers play an essential part in MOL’s worldwide vessel operations, and their role is becoming ever more essential as the skills for safe vessel operation become more advanced and sophisticated. MOL will continue to recruit and train top-quality seafarers as it strives to remain a world leader in safe operation. The establishment of one of the world’s largest merchant marine academies in the Asia/Oceania region is a major initiative in the company’s ongoing drive to ensure operationalsafety in all areas of their business.

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Port of Rotterdam Authority to redirect 4km of port section of Betuwe Route

The Port of Rotterdam Authority is going to redirect approximately 4km of the port (or first) section of the Betuwe Route. As a result, the railway line will no longer run over the Caland Bridge, so that shipping and rail traffic will cease to get in each other’s way from 2020 onwards. It will also bring an end to all the noise nuisance caused by the rail track near the village of Rozenburg. Construction of the new route will cost around €275 million. The Ministry of Infrastructure and the Environment is contributing over €100 million, the European Union €62 million and the Port Authority the remainder. That is close on €100 million. The Port Authority will construct the new route and then hand the railway line over to ProRail. Splitting traffic flows The Caland Bridge near Rozenburg is a steel vertical lift bridge that will reach the end of its technical lifespan in 2020. The bridge is an important traffic hub, used by rail and road traffic. By redirecting the railway line over the Rozenburgse Sluis and via Theemsweg, the increasing rail traffic to and from Europoort and the Maasvlakte will no longer be obstructed by shipping. This will considerably improve the flow of traffic.

Project organisation for Theemsweg Route COO of the Port of Rotterdam Authority, Ronald Paul, on the investment in the Theemsweg Route: “The connections to the hinterland are essential for the port’s competitive position. That’s why we want to see a solution to the capacity problem. But because the Government doesn’t have sufficient funds to do this in the coming years, we suggested to the Ministry of Infrastructure and the Environment that we, as Port Authority, would pay a large proportion of the costs for the Theemsweg Route and execute the project ourselves. On completion, we will hand the new stretch of track over to ProRail. The ministry responded positively to our proposal. We will produce the final design for the railway line in collaboration with ProRail. The new route will be approximately 4km long and run over a raised railway viaduct. The track will have two arched bridges and link up again with the existing track where it meets the A15.”

No equal playing field It is very unusual in Europe for a port authority to invest as heavily in public infrastructure as is currently the case in Rotterdam. In Hamburg, Wilhelmshaven, Bremerhaven, Antwerp and Zeebrugge, the authorities not only pay for the public infrastructure such as railways, but also contribute towards investments in the development of ports, or the government settles the losses suffered by the port authorities. This was revealed by the study ‘Level playing field’ (2014), conducted by RHV-Erasmus University and Ecorys, by order of the Ministry of Infrastructure and the Environment. As a result, clients of these ports do not pay a realistic price, there is no equal playing field and the Dutch ports lose out on cargo, work and revenue. The researchers calculated that Rotterdam lost out on about one million TEU containers a year, as just one example, due to this unfair competition. As the Port of Rotterdam Authority makes a substantial contribution to public infrastructure, the situation here is the precise opposite of that in many other European ports.

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Drone capture of the Heerema tugs BYLGIA (left) and KOLGA (right) holding the barge H-405 on the stern of the Hermod. Both cranes are prepared to lift the Mafumeira Sul module in a dual lift operation with the portside crane in the tie-back mode. Photo: Capt Jan Berghuis ©

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