Greek shipping firm Diana Shipping has secured a time charter contract for one of its Kamsarmax dry bulk vessels from Rotterdam-based Glencore Agriculture.Under the deal, the company’s bulker m/v Maia would be deployed for a gross charter rate of USD 10,125 per day over a period from twelve to fifteen months. The 82,193 dwt ship is scheduled to start working for Glencore on July 27.This employment is anticipated to generate around USD 3.65 million of gross revenue for the minimum scheduled period of the time charter.Built in 2009, m/v Maia was previously chartered to Essen-based RWE Supply & Trading GmbH at a gross charter rate of USD 7,500 per day.Diana Shipping’s fleet consists of 51 dry bulk vessels. As of today, the combined carrying capacity of the company’s fleet is 5.9 million dwt with a weighted average age of 7.99 years.
Jacobs Engineering Group Inc. has signed a global Enterprise Framework Agreement (EFA) renewal with Shell Oil Company to provide concept, front-end engineering, detailed design, procurement, project management, construction management and construction services for Shell projects globally.Jacobs said the agreement was in line with Shell’s ongoing efforts to transform the way its projects are delivered by improving capital and financial efficiencies.“We look forward to continuing to work with Shell. This agreement fosters fresh and innovative project delivery solutions to help meet our joint goal of increased capital efficiency and economic results”This is not the first time the two companies have cooperated. The US-based provider of construction services was in November last year awarded a contract from Shell to deliver a front-end engineering and design package and detailed engineering for the Vito host platform topsides in the U.S. Gulf of Mexico.
Proposals for the second phase of the Leeds Flood Alleviation Scheme are going on show this month to communities upstream of the city center, announced today the Environment Agency.A series of drop in events are being held in Kirkstall, Horsforth, Rodley and Apperley Bridge areas of Leeds, giving residents the opportunity to view options to reduce the risk of flooding to their homes and businesses.An eight week consultation runs from today, Thursday 21 September until 16 November.Members of the project team will be available at the following events to explain the options proposed:Monday 2 October, 3pm to 7pm, Horsforth Community Hub, Town Street, Horsforth, Leeds LS18 5BL;Thursday 12 October, 3pm to 7pm, Radio Aire, 51 Burley Road, Leeds, LS3 1LR;Thursday 19 October, 10am to 1pm, George & Dragon pub (car park), Apperley Rd, Bradford BD10 0PU;Thursday 19 October, 2.30pm to 5.30pm, The Church (car park), Wesley Street, Rodley, LS13 1JH;Saturday 28 October, 9am to 1pm, Kirkstall Leisure Centre, Kirkstall Ln, Leeds LS5 3BE;Sunday 29 October, 12pm to 3pm, Kirkstall Abbey Deli Market, Abbey Rd, Leeds LS5 3EH.With the £50 million first phase of the scheme, which has introduced state-of-the-art new flood protection for the city center, Holbeck and downstream at Woodlesford set to be completed next month, Leeds City Council working with the Environment Agency, BMM jV Limited, Thomas Mackay and Arup, have released details of the further measures required for phase two.The proposals for phase two include measures further upstream including the Kirkstall corridor which was badly hit by the floods as well as Stourton, an industrial area that was badly affected on Boxing Day 2015.The range of measures proposed are a mixture of natural flood management and new infrastructure including:Creating new woodland areas by planting hundreds of thousands of tree saplings;Where possible, using sites in Leeds to retain flood waters when levels are high. Control gates would be used to fill and then release water from the stores back into river when safe to do so;A new 700-meter long flood defense at Stourton with new walls and surface water interventions similar to those installed at Woodlesford as part of phase one;Removing existing obstructions along the river to help reduce water levels, along with also lowering the riverbed in places to improve its capacity and flow;Improving riverbank protection measures along the river catchment in Craven and Pendle along with enhanced woodland areas and installing debris dams;Constructing raised defenses along with landscaping, terracing, embankments and walls, but due to the range of natural measures the height of any engineered defenses will not need to be as high as previously projected.
Dril-Quip has reported net loss of $29.3 million, or $0.78 per diluted share, for the three months ended September 30, 2017, versus net income of $19 million, or $0.51 per diluted share, for the third quarter of 2016.Total revenues were $100 million during the quarter, down 19 percent compared to $123.6 million for the same period in 2016 and 22 percent sequentially.The company had operating loss of $62 million as it booked impairment and other charges of some $61 million, versus none in the prior-year quarter. This was partially offset by tax benefit of close to $32 million.Product bookings were approximately $82 million during the quarter compared to $67.2 million for the Q2 2017.The company’s backlog at September 30, 2017 was approximately $216 million, compared to backlog of approximately $235 million in the prior quarter. Dril-Quip said it expects to convert between 70-80 percent of this backlog into revenues in the next 12 months or less.Subsea World News Staff
MacGregor, part of Cargotec, has signed an order for the fabrication, engineering and project management of a complete subsea mooring and riser system with the Bangladesh-based company, Summit LNG Terminal.The MacGregor system will serve Summit’s floating storage and regasification unit (FSRU), with the delivery of MacGregor’s services will be completed in the fourth quarter 2018.This order is part of a project to support Summit LNG Terminal’s development of Bangladesh’s power-supply infrastructure, MacGregor said on Wednesday.The MacGregor equipment for the FSRU includes mooring connectors, as well as project management for the fabrication, procurement and project management of the complete subsea mooring and riser system. The FSRU will be ready for operation on the site during the first quarter of 2019.The floating storage and regasification unit (FSRU) will be provided by Excelerate Energy on a 15-year charter agreement and will be located at Moheskhali.The liquefied natural gas import terminal will be a part of Summit Power International’s $1 billion gas-to-power project that would add 3,000 MW of power production capacity.
Miami-based cruise line Royal Caribbean Cruises (RCL) has priced an offering of senior unsecured notes in an aggregate principal amount of USD 800 million, consisting of two tranches. The first tranche of USD 300 million aggregate principal amount of senior unsecured notes due 2020 will bear interest at the rate of 2.650% per annum and will mature on November 28, 2020.The second tranche of USD 500 million aggregate principal amount of senior unsecured notes due 2028 will bear interest at the rate of 3.700% per annum and will mature on March 15, 2028.The notes are expected to be issued on November 28, 2017.The company plans to use the proceeds from the offering to repay indebtedness, including but not limited to, its USD 290 million unsecured term loan due 2018 and portions of its unsecured revolving credit facility due 2020 and unsecured revolving credit facility due 2022.RCL added that any remaining proceeds would be used for general corporate purposes.
Next Geosolutions has launched a new division, Next Geosolutions UK Continental Shelf (Next UKCS), following its acquisition of RMS Submarine in 2017. Operating within the cable and renewables industries, Next UKCS will provide solutions to the operations and maintenance market.In line with Next Geosolutions’ growth strategy, Next UKCS has re-located to larger offices within Norwich, the east of England’s energy hub, and plans to increase its workforce by the end of Q2.Next Geosolutions’ CEO, Giovanni Ranieri, said: “Next UKCS opens up many new and exciting possibilities for Next Geosolutions, allowing us to enhance our capabilities and offer unrivalled multidisciplinary expertise.“The acquisition of RMS Submarine was a tactical move within our EMEA growth strategy, and part of our long-term goal to offer clients high quality solutions which meet their demands.“We are confident that this development will be hugely beneficial for both companies. Together, we share not only a natural synergy in terms of service offering and market focus, but also an appetite for success, ambition and drive.”
Image source: USACEThe U.S. Army Corps of Engineers, Wilmington District, hosted a public meeting at the Carolina Beach Town Hall in Council Chambers yesterday to gather public input for the Carolina Beach nourishment study.USACE is currently authorized for beach nourishment projects in Carolina Beach through 2020.They are now preparing a Carolina Beach Coastal Storm Risk Management Beach Renourishment Evaluation Report with an integrated environmental assessment.Completion of this study and subsequent federal authorization could allow continuance of cost shared periodic beach nourishments through 2029 (subject to funding).Comments and concerns raised at this meeting will be considered during the preparation of the study and environmental assessment.[mappress mapid=”24950″]
The medium range (MR) product tanker market sustained an unanticipated blow from a number of one-time events in the second quarter of 2018, Anthony Gurnee, Chief Executive Officer of Ardmore Shipping, said in a conference call.These events included lower demand at the Atlantic Basin as a result of localized factors in the key consumer markets in Brazil, Mexico and West Africa, largely political issues, according to Gurnee, followed by high oil and bunker prices as well as weak crude tanker market.As a result of the unprecedented downturn of the crude oil taker market, fueled by geopolitical tensions and tonnage oversupply, crude tanker owners have started taking a portion of the product tanker cargoes to ease their woes.“Crude tanker market weakness resulted in some encroachment to product tanker trades, particularly Aframax newbuildings competing with LR2s,” he said. “Having said that, we feel that the impact of crude tankers on MR trade is limited, probably well under 1% of overall supply.” However, despite the quarter being unexpectedly tough, Gurnee believes that moving ahead the outlook is positive as MR supply growth remains at all-time lows.“We’re forecasting 23 MRs to deliver over the remainder of 2018, with 29 delivered year-to-date, and this is compared to the 5-year historical average of 112 per year. Scrapping has increased with 31 MRs scrapped year-to-date, indicating a run rate of approximately 50 to 60 per year, and as a consequence, MR fleet growth net of scrapping is expected to be well below 1% in 2018 and into 2019,” Gurnee explained.Furthermore, demand fundamentals remain solid in terms of oil consumption growth and export-oriented refinery capacity development.“Atlantic Basin cargo volume should return to normal levels in the second half as the short-term factors play themselves out. Refined product inventories are well below 5-year averages, and with refinery throughput set to increased by further 2 million barrels a day in the third quarter to all-time highs, the conditions are in place for an increase in CPP trading activity,” he added.Ardmore also believes that the IMO 2020 sulphur regulations will have a positive impact on the market as of next year boosting ton demand and demand growth for product tankers.Ardmore Shipping Corporation reported a net loss of USD 13.7 million for the six months ended June 30, 2018, sinking further into the red from last year’s USD 4 million, mostly driven by challenging charter market conditions.Spot and pool MR tankers earned an average of USD 12,086 per day, while chemical tankers earned an average of USD 12,816 per day for the six months ended June 30, 2018.World Maritime News Staff
Dutch offshore grid operator TenneT TSO B.V. has issued a call for competition for the construction, transport and installation of an offshore platform for a Hollandse Kust offshore wind zone.TenneT will develop at least 3,500MW of offshore connections by 2023; all with a standardised concept of 700MW per connection. The platforms will connect offshore wind farms to the onshore grid by HVAC sea cables.The platforms within one area will be connected by means of a 66kV cable. The platforms are to carry high-voltage switching and transformation equipment as well as auxiliary facilities.Intake power from the wind farms will be 66kV, export power from the platform will be 220kV. The scope of the intended contracts includes design, engineering, production, delivery, transport and installation of topside and jacket, TenneT said.Source: TenneTThe Hollandse Kust zone is divided into two areas: The 1,400MW Hollandse Kust (South) and the 700MW Hollandse Kust (North). TenneT has awarded Petrofac with a contract to build the Hollandse Kust (South) Alpha and the optional Hollandse Kust (South) Beta platform.The 700MW Hollandse Kust (Noord) platform is yet to be tendered.Further information on the contract notice can be found here.