2016 0101

DAILY COLLECTION OF MARITIME PRESS CLIPPINGS 2016 001
Number 001 *** COLLECTION OF MARITIME PRESS CLIPPINGS *** Friday 01-01-2016
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01-01-2016
Page 1
EVENTS, INCIDENTS & OPERATIONS
ANOTHER YEAR AHEAD, IN FRONT OF YOU

EDITION NUMBER 1 OF 2016, AFTER NOT
MISSING ONE DAY LAST YEAR WITH
SUPPLYING YOU
THE LATEST MARITIME
NEWS TOGETHER WITH INTERRESTING
PHOTOS MOSTLY RECEIVED FROM READERS
OR SOMETIMES MADE BY MYSELF I WOULD
LIKE TO THANK EVERYBODY WHO SEND ME, ALSO ON A PERSONNAL NOTE THANK YOU E-MAILS FOR
SUPPLYING THE DAILY NEWSLETTER DURING 2015 I WILL CONTINUE IN 2016 AGAIN WITH
COMPILING THE DAILY NEWS AND BUILT IN MORE HYPERLINKS IN THE TEXT GIVING YOU THE
CHOICE TO SEE MORE PHOTOS AND OTHER INFORMATION !! FROM PALAWAN ELIZABETH, ALEX AND
MYSELF WISH YOU ALL A PROSPEROUS AND HEALTHY 2016 CHEERS !!
Maridive to conduct offshore explorations in

Mediterranean: Source
The company will complete the $151m Petrofac project in the Emirates for ADMA-OPCO in the first
quarter of 2016
Egyptian company Maridive & Oil
Services S.A.E. has developed a strategy
that targets natural gas exploration in
Egyptian territorial waters, including the
Mediterranean, according to a company
source, who requested anonymity.
Left : the 2011 built BLZ flag offshore
tug/supply vessel MARIDIVE 703 checking
her fire-fighting monitors off the Grand
Harbour, Malta during her sea trials after
leaving Palumbo Malta Shipyard Ltd Photo :
Capt.
Lawrence
Dalli
www.maltashipphotos.com (c)
This comes after the government halted
several agreements with a number of
international companies following the
discovery of the largest nature gas field found in the Mediterranean.The discovery is expected to pave the way for new
discoveries that require increased investments in research and exploration. The source said the second aspect of
Maridives strategy is maintaining the operation levels of offshore units at between 80% and 85%, while monitoring
customers requests on units built before the year 2000.The sources pointed out that if the old units prove to be
01-01-2016
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unbeneficial economically, they will be sold to reduce operational costs, to support the companys strategy to
rationalise costs.The source further noted that Maridive will conclude the implementation of the $151m Petrofac
project in the UAE for the Abu Dhabi Marine Operating Company (ADMA-OPCO) in the first quarter of 2016. Moreover,
Maridive began construction phase of one project for the Oil and Natural Gas Corporation in India last November. The
project will be completed within the second quarter of next year, according to the source.The companys net profits
declined during the first nine months of this year to $5.456m, compared to $11.06m during the same period of 2014.
However, revenues recorded $288.2m this year versus $226.64m during the same period of 2014.Meanwhile, costs
amounted to 83% of revenues during the first nine months of 2015, compared to 80.5% during the corresponding
period of last year.Maridives net profit declined during the third quarter of 2015 to $131,000, compared to $5.06m
during the same period last year.The sources attributed this decline in the companys profits to the increase of the
funds allocated for operational risk, in addition to increased income taxes paid within the portfolio of subsidiaries.The
companys revenues during this period were distributed over $102m from its offshore services sector, where the
operation levels of the units built after the year 2000 reached about 80%, compared with 75% for units built prior to
2000.Maridives offshore projects accounted for approximately $188.95m of its revenues during the first nine months
of 2015, compared to $123.7m during the same period last year. Source : dailynewsegypt
SEACONTRACTORS ATLANTIS arriving in Terneuzen enroute Gent to collect the barge DN 120
Photo : Richard Wisse www.richard-photography.nl (c)
Ugland also probes Petrobras bribery
One of Norways major shipowning groups, The JJ Ugland Companies, is the latest Norwegian company to be
dragged into the massive corruption scandal at Brazilian oil company Petrobras. Management at Ugland is investigating
suspicions of bribery that may have occurred as long as 16 years ago, through a firm it owned jointly with Danish
company DS Progress.The JJ Ugland Companies have shipping interests in shuttle tankers, bulk carriers, barges,
offshore service and heavy lift vessels, and is based in Grimstad on Norway's southern coast. The JJ Ugland
Companies U adorns the stacks of a wide variety of ships, including shuttle tankers, bulk carriers, barges, offshore
service and heavy lift vessels. The company is based in Grimstad on Norways southern coast. PHOTO: JJ Ugland
CompaniesOslo-based shipping newspaper TradeWinds reports that a Danish shipbroker involved with Uglands Danish
venture is accused of having paid bribes to Petrobras director Pedro Barusco, via an agent, Julio Faerman. TradeWinds
sister newspaper in Oslo, Dagens Nringsliv (DN), has earlier reported that both Barusco and Faerman have been
heavily involved in the Petrobras scandal, with Barusco confessing to receiving bribes, paying a huge fine and
cooperating with investigators.DN reported recently that Faerman, also linked to bribery concerns at other Norwegian
firms because of his role as an agent in deals involving Petrobras, is believed to have entered into an agreement with
Brazilian authorities as well, and be cooperating with prosecutors in Rio de Janeiro.Now the former director of Progress
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Ugland, the company that Ugland owned with Danish shipowning firm DS Progress, is accused of paying bribes in
order to secure a contract for loading oil from a Petrobras oil field. The deal with Transpetro, which was responsible
for transport of crude oil for Petrobras, involved an 11-year-old 40,000-dwt product tanker, the Nordholt, that was
converted into a dynamically positioned shuttle tanker, the Campos Transporter, to load and transport crude from
Petrobras Roncador field.It was a complicated structure, but we were in on the ownership side (of the vessel) and
took part in the charter with the Brazilian company, JJ Ugland chief executive ystein Beisland told DN on Tuesday.
Beisland has now ordered an internal investigation of the deal, even though it was hammered out back in 1998-1999.
Were looking into this now, Beisland told DN. He added that the deal extends many years back in time. I dont have
concrete details of what happened at that time, or its history, but we are working to attain some clarity in the case.
Zero tolerance for corruption
Beisland stressed, as have several other managers facing ties to the widespread corruption charges at Petrobras, that
Ugland has zero tolerance for corruption. Many Norwegian companies nonetheless have been charged with it, often
through subsidiaries and so-called agents operating in countries where bribery is not unusual.Ugland is among the
scores of Norwegian shipping- and oil-related companies that have done business with Petrobras, which is caught in
whats been called the largest corruption case in the world. Called Lava Jato, its rooted in a cartel allegedly set up by
16 large companies in Brazil to gain control over bidding rounds for business with Petrobras. The huge state oil
company was in many ways swindled, but Petrobras directors and employees, along with Brazilian politicians, have
been charged with accepting bribes and many have been jailed. DN has reported that the corruption charges so far
have resulted in 941 lawsuits and 75 convictions so far, involving bribes totalling around NOK 14.2 billion.
The family-owned Ugland group, based in Grimstad on Norways southern coast, has been undergoing change
following the death in 2010 of Johan Jrgen Ugland, who passed on control of The JJ Ugland Companies to his
grandson, Knut Nikolai Tnnevold Ugland. The company currently has around 1,150 employees. Source: Views and
News from Norway
Two women rescued by coastguard after being

blown FIVE MILES out to sea on paddle boards
BY HAMZA JABIR
Coastguards rescued two women today they were
blown five miles out to sea on stand-up paddle
boards.The pair, who are believed to be in their
50s, had been using the boards off Portobello
beach in the Firth of Forth when they were blown
North East by strong winds, ending up about two
miles off Inchkeith Island. One of the women was
able to raise the alarm and phone emergency
services and after a 90 minute search, the pair
were rescued by RNLI lifeboats from Queensferry
and Kinghorn, supported by Fisherrow Coastguard
Rescue Team and a Royal Navy Sea King
helicopter from HMS Gannet at Prestwick.Both
women were found to be very cold, and in the
early stages of hypothermia so were flown by
helicopter directly to Edinburgh Royal Infirmary ,
the Daily record reports. Kinghorn lifeboat helmsman, Neil Chalmers said: "This was a good example of teamwork
between the various search assets. Queensferry lifeboat was initially tasked to search off Joppa, but once on-scene,
the poor search conditions led to the request for Kinghorn lifeboat and the Royal Navy helicopter to assist."
01-01-2016
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From Breskens HENK DE WINDE wish you all Happy New
Year
Conditions in the search area were difficult, with a Force four
southerly
wind
creating waves up to
1.2m high, along with
spray and a strong
sunlight .
IAIN
FORSYTH
wish all readers A
happy New year
"Soon after the arrival
of the helicopter, the two
females were located with
their boards. The helicopter
crew requested the two
lifeboats to assist with
recovering the casualties and
their
boards,
before
assessing them. "This callout
had a successful outcome
today, and the regular
training sessions which the lifeboats and helicopter crews undertake
certainly paid off."source : Mirror From Brest in France JACQUES
CARNEY wish you BONNE ANNEE/HAPPY NEW YEAR
Subsea 7 Wins Work Offshore Egypt
Subsea 7 has secured a contract from Burullus Gas

Company for the platform extension and tie-in on the first
phase of the West Nile Delta development of BPs Taurus
and Libra fields offshore Egypt. Offshore work is expected
to commence in the second half of 2016 and will utilise
three vessels. ROCKWATER 2 will be used as the main
hook-up and accommodation vessel, SEVEN BOREALIS
will perform the offshore lift of the platform extension,
and heavy construction vessel SEVEN ARCTIC will install
the umbilical.
Left : The SEVEN BOREALIS in Gibraltar
Photo : Francis Ferro (c)
Oeyvind Mikaelsen, executive vice president of Subsea 7,
commented: This contract recognises the value we bring
to our clients through early engagement to engineer,
design and deliver cost-effective solutions for complex field developments. We look forward to expanding our presence
in Egypt and building a long, successful and collaborative relationship with Burullus. Subsea 7 said the value of the
contract is in the range of $50m-$150m.
Due to our holiday until Jan 9th the

newsclippings may reach you irregularly
DOF Subsea wins new contract with Petrobras
DOF Subsea has won two new contracts set to commence this month. The company said DOF Rederi has secured a
deal with Asco Marine for its platform supply vessel, the SKANDI SOTRA The vessel has already commenced the
01-01-2016
Page 5

charter, and is currently operating in the North Sea. Another of DOFs subsidiaries the Norskan Offshore, has
secured a one-year contract with Petrobras for anchor handling tug supply vessel, the SKANDI BOTAFOGO.
The SKANDI BOTAFOGO operating in the Lula Field offshore Brazil

Photo : Capt Jan Plug Master Seven Waves (c)
One dead, two injured in COSL Innovator

incident on North Sea
By Joey Mechelle Stenner

Statoil and China Oilfield Services Limited are reporting one death in an accident that happened in the late afternoon
on Wednesday, December 30, 2015, when a heavy wave hit the COSL INNOVATOR rig during a hammering storm.
Statoil and COSL quickly mobilized their emergency response teams, and the injured were flown to land by a Sea King
helicopter from the Norwegian Joint Rescue Coordination Centre, as well as one of Statoils own SAR helicopters.
The semi-submersible drilling rig, the COSL INNOVATOR, is under contract to Statoil on the Troll field in the North
Sea, to the west of Bergen. The rig had been taken off the well due to torrential weather when the incident occurred.
The wave also caused damage to the rig's accommodation module. Statoil is assisting COSL with evacuation of the rig
crew from the rig. A Statoil representative confirmed to PennEnergy that approximately 50 of the 106 crew are being
evacuated to shore by helicopter, with only a contingency crew left onboard. The rig is now heading to shore under its
own power, while the evacuation continues to takes place. A reception facility for evacuees has been established at
Kokstad, where personnel will assist those who were on board the rig. Specialist professionals including doctors,
nurses and psychologists are on hand to assist. Source: PennEnergy
Freak storm sank China ferry with loss of 450

lives
01-01-2016
Page 6

An official inquiry has found that a freak storm caused the sinking of a cruise ship on China's Yangtze river with
the death of nearly 450 people and
recommended the captain be probed for
possible
crimes,
state
media
said
Wednesday. The EASTERN STAR capsized
with mostly elderly holidaymakers on
board in June, the country's worst shipping
disaster for more than six decades. A sixmonth investigation by the cabinet-like State
Council said the sinking was caused by
"freak" strong winds and heavy rains, an
official website said. Despite widespread
public anger, the report only named
relatively low-level government officials as
responsible for the disaster which killed 442,
and recommended sacking as their heaviest
EASTERN
STAR
punishment.
The
encountered the squall during a trip from
Nanjing to Chongqing on the night of June
1. A downburst, instead of a tornado as reported previously, produced strong winds that overturned the vessel, the
report said. It said the captain and other staff made an "inadequate response" to the situation, including failing to send
a signal calling for rescue. Other flaws by the firm included lax monitoring of the vessel's condition, it said. A year of
deadly accidents in China has raised questions over the ruling Communist party's ability to keep citizens safe and its
resolve to hold officials to account. The inquiry recommended that Captain Zhang Shunwen -- who was one of just 14
survivors -- be passed to "legal departments" for investigation. A further 43 executives and officials were named as
having failed in management, according to a summary of the investigation published by state news agency Xinhua.
They include seven people from the company and 36 from government departments -- with the highest ranked at
"vice provincial level" and the majority of even lower rank, Xinhua said. But the highest punishment recommended for
officials implicated in the accident is "sacking," the report said. The report concluded that the disaster was caused by a
mixture of bad weather and management errors, according to the website of the State Administration of Work
Safety.Officials from the ruling Communist Party in past decades have covered up the details of accidents and
disasters.The growing use of the Internet and social media in recent years spurred more detailed reporting of some
disasters. But media controls have been stepped up under current President Xi Jinping, and access to the EASTERN
STAR sinking site and to relatives of passengers was tightly limited, with censors quickly deleting online criticism.A
report in the Beijing News at the time of the sinking said changes made to the EASTERN STAR when it was
converted into a ferry may have made it more susceptible to capsizing. Similar controls on online comments and
reporting were imposed after an industrial explosion in the northern port city of Tianjin in August killed more than 200.
More than 70 people are still missing people following a landslide in Southern China this month that occurred despite
multiple warnings. Some internet users reacted to the ferry investigation with scepticism."The result (of the inquiry) is
released, and its useless," Tian Boxue wrote on Chinese Twitter-equivalent Sina Weibo. Another Weibo user wrote:
"The higher level the official, the lighter the punishment. Corrupt officials are clearly protected." Source:Yahoo
The last scheduled container ship for 2015 was the "JOSEPHINE MAERSK" which departed Timaru yesterday
morning for Napier Photo: Tom Johnston (c)
01-01-2016
Page 7
China Airlines, Yang Ming, Chungwa Post ally

to meet e-commerce demand
By : Dustin Braden
The YM WELLHEAD outbound from Rotterdam-Europoort Photo : Kees Torn (c) CLICK on photo
China Airlines, Yang Ming Line and Chungwa Post, Taiwans national postal service will cooperate on sea and air freight
services to better compete in the booming e-commerce market in Asia.The trio have signed a memorandum of
understanding to establish a strategic alliance in which they will work together to transport parcels, along with storing
them, responding to customer complaints and marketing
their services.
HAPPY NEW YEAR from SINGAPORE SALVAGE
ENGINEERS
The agreement also allows the companies to expand their
cooperation beyond the previously mentioned business
areas if they wish. In the face of global competition and
changes in the industrys structure, "alone" has been
unable to meet customer demand for a full range of
logistics services, Chungwa Post Chairman Weng Wenqi
said in a statement. E-commerce, which has surpassed
traditional shopping models, has fundamentally altered the
way transportation companies operate. It has diminished
the typical peak season by forcing retailers to have deep stocks on hand throughout the year and spurred demand for
smaller distribution centers closer to metro areas. The China holiday of Singles Day best exemplifies the magnitude of
this shift with Alibabas logistics affiliate Cainiao receiving 467 million delivery orders on the day this year. Thats more
than 15 times the daily average and a 68 percent increase from last year. Source : journal of Commerce
POSH TERASEAs SALVISCOUNT leaving the Selat Pauh Anchorage in Singapore for her next assignment
Photo : Capt. Neil Johnston Master TERASEA FALCON (c)
01-01-2016
Page 8
Ferry Disaster Korea's Most Mentioned Issue

on Social Media
The ferry disaster of April 2014 that took the lives of over 300 people, mostly high school students, remained the most
frequently mentioned issue in 2015. That shows how deep the scars were that the disaster left in the hearts and
minds of the Korean public. According to pollster Matrix tabulating the 80 most frequently used keywords on
Twitter over the last year, the ferry SEWOL was mentioned 3.1 million times. Second was Middle East Respiratory
Syndrome (1.91 million times), while "state history textbooks" (578,351 times) rode to a strong late third place after
they were first mooted in October.Cho Il-sang of Matrix said every time a tragedy occurs, people refer to it as "another
SEWOL disaster," so it has become a symbol and is likely to get a lot more mentions. "Spy cams" was fourth amid a
panic surrounding peeping-Tom footage from women's locker rooms last summer. Fifth was "chef" due to the
explosive popularity of TV cooking shows. Source : Chosun
30-12-2015 HAPAG LLOYDs DUSSELDORF EXPRESS downbound on the Fraser River Photo : Robert Etchel (c)
SSI Calls on IMO to Take Early Action on

Reducing Shipping CO2 Emissions
The Sustainable Shipping Initiative (SSI) has said the 2 degrees global warming target agreed at the recent 21st
Conference of Parties (COP21) climate deal in Paris will only be achieved if the International Maritime Organization
(IMO) takes early action to create a global framework to tackle shipping emissions. The organisation says the Marine
Environmental Committee Meeting (MEPC 69) in April 2016 would therefore be a "crucial landmark" for IMO to "show
real leadership" in the development of a progressive international framework for CO2 emissions reductions.As Ship &
Bunker previously reported, text addressing emissions from the shipping sector, along with aviation, were dropped
from the final global climate agreement."Although there is no specific mention of shipping within the text, it does not
01-01-2016
Page 9

diminish the considerable role that the industry must play in achieving a target of below 2 degrees warming," said
SSI."The scale of the challenge has already been identified and will only be achieved if there is early action by the IMO
to create a global framework that is ambitious, progressive, and fully supported by regional regulators and
jurisdictions, as well as the industry alike. "Similar to the COP21 agreement, shipping must adopt a unified response
based on collaboration, pragmatism and controlled urgency." Source : fathom-ctech
The CMA CGM MOZART arriving in the port of Cape Town Photo : Ian Shiffman (c)
Salalah opens new multipurpose terminal
The Port of Salalah has opened a new deep-water general cargo and liquid bulk terminal.
The multipurpose terminal will add 20m tonnes of dry cargo and six
million tonnes of liquid bulk cargo to the ports annual handling
capacity.David Gledhill, Port of Salalahs CEO, said: The new facility
is able to handle a wide range of vessels, ranging from naval ships,
to vessels handling limestone, cement, livestock, project cargo and
other dry bulk commodities as Salalah continues to grow as a key
centre of trade and logistics for the region. The new terminal was
built by the Government of Oman at a cost of 55m OMR
(US$143m). The quay wall is 1,266 meters in length and 84 meters
wide.It is located on
the leeward side of
southern breakwater
at the port. The facility provides two 320 meter-long General Cargo
berths and two 300 meter-long Liquid Bulk berths. A dedicated pipe
corridor links the new liquid bulk terminal directly with one of our
customers operating within the port, and in the future, an extension will
connect with the Salalah Free Zone where new customers are setting up
their plants, said Ahmed Akaak, Port of Salalah Deputy CEO.The Port of
Salalah is operated by APM Terminals as part of the APM Terminals
Global Terminal Network, and APM Terminals holds a 30% share.
Source: Port Strategy
The CPO NORFOLK (ex Cape Henri) in Cape Town to exchange boxes Photo : Ian Shiffman (c)
01-01-2016
Page 10
OCEANTEAM ASA KEEL LAYED FOR

SUBSIDIARY DOT SHIPPINGS NEW LARGE CSV
TAMPAMACHOCO I
The keel has been laid for DOT Shippings new large offshore construction support vessel that is under construction.
Keel laying is, besides launching, commissioning and decommissioning, one of the four specially-celebrated events in
the life of a ship. The construction of the
Tampamachoco I is progressing as planned.
The large offshore construction support vessel,
that is due for delivery at the end of 2016, is fully
financed and has secured a long-term time
charter in Mexico. Keel-related traditions are said
to bring luck to the ship during the construction
and to the future captain and crew. They include
placing in a newly minted coin under the keel and
constructing the ship over it, having the youngest
apprentice to place the coin, and when the ship is
finished, presenting the owners with the oak block
on which the keel is laid. DOT Shipping has a 50percent interest in this new large build
construction support vessel and is owned through
a joint venture between DOT Shipping and Pacific Radiance
(headquartered in Singapore). The investment comes with an
option to buy the remaining 50 percent after a period of seven
years against agreed terms.
Besiktas STX and MAE team Jinhae Korea, Whishing you,
your families, loved ones and staff a Healthy and Happy New Year
2016
Through the partnership and joint vessel ownership with
Singapore, stock listed Pacific Radiance Ltd., DOT Shipping has
secured a long-term partnership with a highly competent and
strong partner. Oceanteam ASAis comprised of two operating
segments, Oceanteam Shipping and Oceanteam Solutions.
Oceanteam Shipping owns, charters and manages deep-water
offshore support vessels and fast support vessels. Oceanteam Solutions focus is to provide its clients with complete
offshore solutions. This year, Oceanteam ASA is having its ten year anniversary, celebrating a decade of offshore
solutions.
01-01-2016
Page 11
Dredging the depths of the ballast water

problem
Ballast water is considered one of the greatest threats to our planets biodiversity, a dangerously efficient medium for
spreading invasive species that can wreak havoc on aquatic habitats. Along with the growth in global shipping, the
invasion process has been picking up steam in recent decades, as have
efforts to stem this destructive tide.
Dick & Huberta Buitenhuis, Whishing you Happy New Year 2016
Ever since the arrival of steel-hulled vessels in the 1880s, the practice
of taking on tonnes of ballast water from one port and releasing it in
another has been the norm in the shipping business. Scientists
recognized very early on that organisms hitchhiking in the ballast water
were establishing themselves in their new ports of call, but it was only
in the 1970s that the negative impact of these invaders came under
widespread scrutiny. Nowadays dramatic examples of the devastation
caused by ballast water-related invasions are all too easy to find. In
1988, a transatlantic freighter unloading its ballast water in Lake St. Clair between the US and Canada introduced the
zebra mussel, a native of the Caspian and Black Sea. These newcomers spread explosively throughout the Great Lakes
over the following decade, clogging the intake pipes of municipal water utilities and power plants, pushing out many
native species and putting a damper on tourism. The resulting economic damage has been estimated at over USD5
billion. Ballast water was also the culprit in a
deadly cholera outbreak in Peru in the 1990s.
It has triggered blooms of toxic algae in
Australia and infected the waterways of
Europe and North America with the Chinese
mitten crab, a creature that causes erosion
and
embankment
damage
through
burrowing.According to Dr. Gregory Ruiz,
head of the Marine Invasions Lab at the
Smithsonian Environmental Research Center
near Washington, D.C., scientists have
identified about 450 non-native species that
have been introduced to the waters of the US
and Canada over the past 200 years. A
substantial number of those, he says, can
be attributed to ballast. Whats especially worrying is the invasion growth curve. Its not linear, its increasing
exponentially, Ruiz said. Of the 450 species invasions mentioned, 99
have occurred in the past 30-year interval, three-quarters of those
attributed solely to shipping, i.e., transported either by ballast water or
through hull fouling, another major invasion mechanism.Research
undertaken in Europe, Australia and New Zealand shows similar rates of
invasion. Ruiz said that there havent been enough studies in other
regions, notably the high sea-traffic zones of Asia and the Panama Canal,
to draw any conclusions about effects there, but theres no reason to
believe the global picture is any rosier. Theres a disconcerting number of
unknowns when it comes to ballast water-related invasions, as the
process is simply too widespread and complex for scientific study to keep
pace. Even in well-researched regions like North America, scientists can
never know how many invasive species may have gone undetected. And
for the invaders that have been detected, its difficult to gauge what
dangers they pose.For most non-native species that are invading, we
dont know what their effects are. It doesnt mean that they dont have
effects, it means nobody has really evaluated them sufficiently to
understand what they may or may not be.That leaves a large potential to be caught off guard. Most people are
01-01-2016
Page 12

looking at the big. conspicuous things, but even small things can have a big effect, Ruiz says, citing the example of a
parasite introduced into Chesapeake Bay in the 1950s that ravaged the local oyster industry. What is known is that, if
the situation continues, further harm is inevitable. Its basically a certainty that some of those species that come in
will cause damage, will effect fisheries, will increase erosion, will cause diseases and die-offs, and that has cascading
effects on ecosystem function in terms of energy flow, food webs and nutrient processing.Source: Wrtsil
The impact of lower oil price assumptions on

the penetration of LNG vessels
In its latest World Oil Outlook for 2015, OPEC featured an analysis on the future prospects of LNG powered shipping
vessels, when taking into account the current lower oil price assumptions. The issue was first explored in OPECs oil
outlook issued in the year before (2014), when in light of the regulations on sulphur emissions issued by the IMO, the
prospect of using LNG as an alternative bunker fuel was explored. It was concluded that LNG had the potential to
become an important marine bunker fuel in the long-term.This year the subject is re-considered in light of recent
market and price developments, as well as the continuing uncertainty surrounding the implementation of new IMO
regulations. These new regulations are supposed to be implemented at a global level on all shipping vessels by 2020.
It obliges shipping companies around the world to either install exhaust scrubbers or switch to more expensive low
Sulphur (0.5%) gasoil.According to OPEC, the use of LNG in marine bunkers could be a cost-effective alternative to
addressing the new IMO regulations as it offers a chance for shipping companies to save on fuel costs. However,
under the current lower oil price environment, the savings advantage of using LNG could be far less than anticipated.
The future price differential between LNG bunker fuel and low sulphur marine gasoil will remain the most convincing
argument for shippers especially when it comes to deciding on which technology to incorporate into the building of
new ships. Some of these bunker projects represent large-scale investments it is evident they could be put on hold if
oil prices remain at low levels for a prolonged period of time.At the same time, a new LNG ship costs about 1520%
more than a vessel that uses more conventional technology. Based on this, the possibility of retrofitting all currently
existing shipping vessels to allow them to use LNG does not appear to be a realistic option. In most cases, the extra
financial costs involved, and the idle time required during such a conversion process, will be overly prohibitive for
shipping companies.A fundamental challenge facing the use of LNG bunkers is breaking the socalled chicken-and-egg
situation. It begs the question: what comes first? Should it be the development of a larger fleet of LNG-enabled ships
(demand) or should it be the expansion of LNG bunkering facilities at major seaports (supply). It seems that the latter
is taking the lead.In fact, currently there are around a dozen or so small LNG bunker facilities available in the Baltic
and North Seas. Bergen, Oslo, Stavanger, Turku, Zeebrugge and Stockholm are among the ports that currently offer
LNG bunkering services. These have enabled a moderate fleet of LNG ships to operate in the Baltic and North Sea
region, where stricter IMO regulations of 0.1% sulphur content have already been implemented.In the US, the ports of
Los Angeles and Fourchon are also offering LNG bunkers. Similarly, Singapore has recently announced that it will start
working on a LNG bunkering pilot programme in 2017 and expects to offer LNG bunkering in 2020. Around 30 more
international seaports among them Antwerp, Hamburg, Bremerhaven, Le Havre, Santander, Fujairah, Buenos Aires,
Zhoushan, and Busan are all in the process of offering, or are planning to offer, LNG bunkering services in the
future.From the demand side there are also positive signs of increased confidence in the build-up of LNG technology
from within the shipping industry. Norway is taking the lead in the use of LNG for bunkering. In 2013, 40 Norwegian
vessels were using LNG as fuel; and this number is set to increase in the coming years, fostered by government
support. Costa Cruises, part of Carnival Corporation, recently announced that it had ordered four LNG-powered mega
cruise ships to be delivered during 2019 and 2020. Once in operation, these ships will offer the largest guest capacity
of any cruise ships in the world, with virtually no particulates or sulphur emissions.Another issue to consider is the fact
that upcoming IMO sulphur emission rules for international waters are supposed to be implemented on a global level in
2020. However, in 2016, these rules will be under review and there is a possibility that their implementation will be
postponed until 2025. This element adds further uncertainty to the market. Shippers will require more clarity about the
nature of the new rules, particularly the timeframe in which they may come into force, before proceeding with their
investment plans. Additionally, some shipping companies may also prefer to wait until the IMO completes its review
before making new orders. In addition, a lack of a clear path may mean that oil refiners are quite reluctant to commit
to any major investment projects aimed at expanding low sulphur marine fuel capacities.It can thus be concluded that
LNG ships will only continue to increase their share in the marine sector slowly as the supply and, to a lesser extent,
the demand situation of LNG bunkers steadily improves, and as more experience with the technology is gained.
However, lower oil prices and continuing uncertainties about the future of LNG infrastructure and regulatory
developments, alongside possible delays in the implementation of new IMO rules, adds uncertainty for market players
01-01-2016
Page 13

and, therefore, will support conventional ship technology and the ongoing use of oil-based fuels in the future, it was
concluded. Photo: Nikos Roussanoglou, Hellenic Shipping News Worldwide
Koper terminal receives the largest ship ever

MSC Luciana
The MSC LUCIANA photo : Bernard -AITKEN SPENCE SHIPPING LTD. (c)
The largest container ship in terms of TEU capacity MSC LUCIANA docked at the Koper Container Terminal on
December 29 the MSC LUCIANA The vessel can carry 11.660 standard 20' containers, the With the four shore to ship
cranes we have unloaded almost 2.000 containers and another 900 have been loaded. The ship is part of the 2M
alliance, formed by two largest global ship-owners, the MSC and the Maersk Line, and operates on the Asia Adriatic
string. In this rotation Koper is the first port of call in the Adriatic meaning that the cargo coming from Far East has
the shortest transit time.PLC Luka Koper provides port and logistics services in the port of Koper, based in CoastalKarst, Slovenia. Source : Portnews
Scorpio Bulkers Inc. Announces Sale of Five

Vessels for $167 Million
Scorpio Bulkers, Inc. Announced that it has entered into agreements with unaffiliated third parties to sell three
Capesize dry bulk vessels and two newbuilding Capesize dry bulk vessels under construction for approximately $167
million. Three of the Capesize vessels were constructed in Korea and delivered to the Company in 2015. The
remaining two vessels are currently under construction in Korea and are expected to be delivered in the first quarter of
2016. Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. Scorpio Bulkers Inc.
currently owns 25 vessels, consisting of 10 Kamsarmax vessels and 15 Ultramax vessels with an average age of 0.5
years. The Company also time charters-in eight dry bulk vessels (consisting of one Handymax, one Ultramax, two
Supramax, one Panamax, two Kamsarmax and one Post-Panamax vessels) and has contracted for 24 dry bulk vessels
consisting of 13 Ultramax and 11 Kamsarmax vessels, from shipyards in Japan and China. Upon final delivery of all of
the vessels, the owned fleet is expected to have a total carrying capacity of approximately 3.5 million deadweight
01-01-2016
Page 14

tonnes. Additional information about the Company is available on the Company's website www.scorpiobulkers.com,
which is not a part of this press release. Source : shipbuilding.me
The MAGELLAN seen arriving in Gibraltar for a scheduled visit - Photo : Francis Ferro (c)
USCG establishes safery zone, restriction on

Mississippi River
The Coast Guard has restricted traffic on the Mississippi River from mile marker 110 near Chester, Illinois to mile
marker 34 near Billings Landing, Missouri, Wednesday, the USCG said in a press release. Capt. Richard Timme, Coast
Guard Sector Ohio Valley commander and Captain of the Port, restricted vessel traffic between mile markers 110 and
34 to ensure passing marine traffic does not put additional pressure on the Federal Levee Systems, while the U.S.
Army Corps of Engineers performs flood control missions. Sector Ohio Valley has been conducting outreach with the
maritime public, including Broadcast Notice to Mariners, available on VHF Channel 16. This closure is expected to
remain in effect until Jan. 3, 2016, but may be reevaluated based on changing river conditions. Source :PortNews
Hundreds of lives saved in first 50 years of

Kinghorn lifeboat service
By : JONATHAN WATSON,
For half a century they have risked their own lives to save those in danger on the Forth. Since 1965, for 24 hours a
day, 365 days a year, the volunteers of the Kinghorn lifeboat have been on call, waiting for the alarm to be sounded.
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Page 15

Thanks to the selfless actions of these heroic men and women, more than 350 lives have been saved in the past 50
years a good reason alone to celebrate.
Crew members from 1965 met up with their modernday counterparts as part of the Jubilee celebrations.
Photo: Supplied
But as the stations golden anniversary celebrations
come to a close, the long watch will continue for the
crew, with the next 50 years promising to be busier
still. Alan McIlravie, lifeboat operations manager, said:
The community has continued to show great support
and affection for their local lifeboat station We have
held a number of events throughout the year, some
especially
to
mark our 50th
anniversary,
and these have
been very successful. Our volunteer crew has also been very busy, with
regular training and attending a number of challenging call-outs.
Jan van Heteren Fotografie wish all readers, contributors and Piet Sinke and
family all the best for the new year
The station was initially founded to cater for the vast increase in pleasure boats
using the Firth of Forth. As a popular tourist destination, Kinghorns beaches
were regularly packed in the summer, prompting the requirement for lifesaving expertise to be on hand.Though little more than a dinghy, the D Class
lifeboat launched in 1965 saved six lives in its first year.Since then and over the
decades the boat and crew in various forms have become a major part of the
community. Fundraising events, including the stations annual open day and
Halloween Spooky Walk, attract huge crowds, while the flagship event of this
years 50th anniversary celebrations saw 260 turn out for a dinner
dance.Reflecting on the highlights of the year, Mr McIlravie added: Local MSP
David Torrance tabled a motion in the Scottish Parliament to pay tribute to the
crew, fundraisers, and all those who support the RNLI in general and Kinghorn
lifeboat in particular.It was both reflective and uplifting to hear such fine
praise heaped on us and our predecessors. Source : thecourier
New normal emerging in offshore marine
Much has been said about the offshore marine sector taking a hit from capital expenditure cuts imposed by oil and gas
companies as a result of persistently low oil prices, but close industry watchers would have noted the inconvenient
truth that the first signs of cracks emerged way before oil price tumbled during the second half of 2014. Back in
January 2014, Shell had already said that it was looking to cut capital spending to US$37 billion in 2014, down from
US$46 billion in 2013. This was followed by a February statement from Statoil, spelling out an 8 per cent cut to its
investment goal for three years through 2016. Both Shell and Statoil along with ExxonMobil and other majors were
posting lower profits as a result of rising costs and stagnant oil prices. As a consequence, the focus had already shifted
to conserving cash over expanding production by sanctioning more new field developments.
Analysts were quick to pick up from the majors, issuing warnings of offshore drilling day-rate declines on the back of a
then-developing supply glut again another early signpost of a soon-to-come market correction.
It could be said that offshore marine players had seen it coming months before oil prices fell by half from above
US$100 to sub-US$50 by late 2014.Yet, the industry as a whole had underestimated what was to come. Many were
still hopeful of a V-shape oil price recovery perhaps fuelled by the stunning comeback in 2009 from the last 2008
collapse to under US$40 from a peak of US$147 earlier the same year that did not materialise. Instead, oil price
failed to break the US$60 barrier and tumbled to US$40, then under US$40 closer to the end of 2015.
This prompted a reference to the 1980s when oil fell to under US$10 and took decades to rebound to pre-bust level,
as one Wall Street Journal report pointed out in January 2015.Fast-forward to 2015, the offshore marine sector is
grappling with supply-side issues over and beyond the demand destruction following the oil price collapse encountered
in the 1980s. There is just too much capacity in every offshore segment as capital investments fall and competition
intensifies within the oil supply chain, David Palmer, chief executive of Pareto Securities Pte Ltd the Singapore
01-01-2016
Page 16

branch of leading offshore marine brokerage lamented at a Markel-organised industry seminar.Mr Palmer attributed
the overcapacity partly to the Chinese shipbuilding industry. Chinese shipyards (had) irrationally killed any sector of
the shipping and offshore markets, the Pareto chief opined, citing 405 vessels on the official order book and
potentially another 200 unreported units that could be delivered from China. These include 139 anchor handling tug
supply vessels and 266 platform supply vessels, representing 8 per cent and 18 per cent, respectively of the global
fleet, he said.Paretos statistics also showed 123 jack-up drilling units and another 57 floaters were on the order book
at the time of the Markel presentation, but other analyst estimates suggested as many as 132 jack-ups and 71 floaters
are under construction.In two other key segments subsea and floating production in which speculative newbuild
investment may have been more subdued, vessel owners and operators have also struggled to replenish their order
books and upkeep their margins as oil companies delay final investment decisions on new field developments.
The drastic downturn has seen many announcing massive layoffs to cut costs and some companies have gone bust.
The remaining offshore marine players have been fighting hard to cope with the reality of low oil prices, evident from a
cost deflation, which Energy Maritime Association managing director David Boggs noted, has already been happening
across the exploration and production value chain. Data from other industry players supported Mr Boggss observation
operating day rates were down by up to 60 per cent across all classes of OSVs (offshore support vessels) and
offshore drilling rigs. Deep-water assets took a harder hit initially, but this soon proliferated to the shallow-water
segment.For the first time since that downturn, which came just after the fleet build-up with limited supply-side
diversification, day rates for new floaters are expected drop to opex (operating expenditure), Mr Palmer said.
The fall in jack-up day rates has caught up in some sectors with the floaters, as Clarkson Platou October 2015 data
suggested, with West Africa fixtures for the first nine months down over 47 per cent.The OSV sector is in negative
margin territory now and this will continue through 2016. Day rates have come down 40-60 per cent and fleet
utilisation is also down 40-60 per cent, Singapore-based marine brokerage, M3 Marine managing director Mike Meade
said. OSV players are undertaking major cost containment exercises they cannot control the oil price, demand or
supply, the only thing they can do is control their costs and lay-up (stack) idle vessels, Mr Meade observed.While
thousands of staff had been let go by oil majors and large-capped oilfield services providers such as Schlumberger, Mr
Meade noted attempts by certain OSV players to mitigate against brain drain from the industry.One major OSV player
has imposed voluntary no pay leave through the ranks of shore-based and seagoing staff from the managing director
to the cleaner and the master to the galley boy, Mr Meade said.In the subsea segment, large-capped players such as
Technip and Subsea 7 have been retrenching contracted-in vessels, he said. They are also seen competing for
inspection, maintenance and repair contracts which are more prone to day-rate fluctuations against Tier 2
contractors because less engineering, procurement, construction, installation and commissioning (EPCIC) contracts
typically negotiated on lump-sum or project basis are on offer.Meanwhile, vessel market values have also fallen
under pressure and newbuild prices have come down. Topaz Energy & Marine ordered new ships at Vard in Norway for
less than US$70 million apiece. These vessels are comparable to Daya Offshores Siem Daya 1, which changed hands
from Siem Offshore for around US$120 million, Mr Meade said.Such industry-wide cost deflation resulting from
supplier cost and commodity prices reductions and US dollar appreciation has already led to 20-30 per cent cost
reductions in the deep-water segment, SBM Offshore said in a September 2015 Pareto conference presentation.Drilling
costs were down by 50 per cent, subsea by 30 per cent and others including well services and equipment marine
transportation by 10 per cent, according to SBM Offshore. The floating production player also indicated 20-30 per
cent cost reduction in FPSOs (floating production storage and offloading), in line with EMAs observation.Mr Boggs said
that labour costs in the FPSO segment have fallen by at least 20 per cent, despite flat material costs, supporting an
overall 20 per cent segmental cost reduction. He also noted in Brazil, cost deflation has lowered break-even for deepwater field developments, which were economical at US$45 when oil price was US$100 or above. The new break-even
pre-salt field developments in Brazil has lowered to US$38 oil price, according to oil and gas newspaper
01-01-2016
Page 17

Upstream.While an industry-wide deflation may have been helpful, an SBM Offshore spokesman in echoing an
increasing call within the industry, warned: Fundamental and sustainable changes (will be needed) to ensure that cost
savings are not lost through inflation when the market recovers. Source: Business Times
The brandnew SBI MAGNUM assisted by the Port Towage Amsterdam operated tug TRITON in Ijmuiden
Photo : Marcel Coster
Successful Surgery: In an unprecedented

endeavour, Reederei NSB is widening its
Panamax-class container vessels
Too young for scrapping, too old to compete: Roughly 500 Panamax-class container ships are currently less than ten
years old, barely half their useful life. But facing overcapacities, low charter rates and ierce competition, the Panamax
class is under intense pressure. Compared with state-of-the-art and much more capacious newbuildings, its prospects
are dim. This is mainly due to the way these vessels were designed.To pass the old locks of the Panama Canal, they
were built with unusual dimensions long and thin and with a large amount of ballast water to compensate the poor
stability. In addition, Panamax ships are equipped with stronger engines that achieve their highest efficiency when
operating at higher speeds, rather than slow steaming, which is more common today, says Marcus Ihms, Ship Type
Expert for Container Ships at DNV GL Maritime. So shipowners try to make their fleets more competitive by
undertaking minor and major ship conversions Reederei NSB of Buxtehude, Germany, is causing quite a stir with the
idea of widening three of its Panamax container vessels: MSC Geneva went back into service in July of this year after
undergoing the procedure, her sister ship MSC Lausanne was delivered in late October, and MSC Carouge should be
completed by the end of January 2016. No one has ever cut a container ship lengthwise from the superstructure to
the bow to widen it, says Tim Ponath, Chief Operative Officer of Reederei NSB. We are very proud of our team who
demonstrated the viability of our concept. Innovative and technically sophisticated, this concept was developed jointly
by NSB and the In an unprecedented endeavour, the ship manager Reederei NSB is widening its Panamax-class
container vessels.DNV GL, the class in charge, is on board. Hamburg-based Technolog GmbH. After separating the fore
and aft body from the cargo hold in dry dock, the cargo hold is cut in half lengthwise and pulled apart. The new centre
sections are inserted and connected to the existing part. The main idea behind this innovative method is cutting the
hull in the least stressed areas and significantly increasing both the container intake and stability by widening it, says
Lutz Mller, Senior Technical Consultant at NSB and one of the key initiators of the project. The conversion is carried
out by Huarun Dadong Dockyard (HRDD), China. DNV GL, the classification society in charge of the ships, was
involved from the early stages. This is a major conversion project, emphasizes Ihms.This means that all classification
and lag state rules in effect at the time of conversion have to be observed. It is important to discuss with the lag state
and the class, what rules must be adhered to under all circumstances, and what parts of the ship can be handled
according to existing standards rather than new requirements. Our Class Note for Conversion of Ships provides the
necessary guidance to owners as well as engineering companies during the design phase, Ihms points out.For
example, in the case of MSC Geneva and her two sister ships, the anchor equipment had to be adapted, as a widened
01-01-2016
Page 18

ship is heavier and offers more resistance to wind. According to our well proven method, additional chain lengths can
provide more holding force. Thereby, the retroit of the entire winch system can be avoided without jeopardizing the
anchoring capability, Ihms reports. From anchor equipment and ship strength and stability through to statutory
compliance and cargo lashing, close collaboration between all project stakeholders was crucial for the success of this
world premiere.A conversion adds up to four container rows to the cargo hold, increasing the container capacity by
about 30 per cent. In addition, it improves engine efficiency when combined with an optimized propeller, and bolsters
stability. Stability increases exponentially when you widen a ship, Ihms explains.As an added benefit, the required
ballast water per loaded container could be reduced by half. The IMO Energy Efficiency Design Index (EEDI) achieved
will equal that of a newbuilding and meet EEDI regulations as per 2025. The life-extending surgery will pay for itself
within four years so in the end it has all been well worth the effort, Ihms assures. Source: DNV GL, Maritime
Impact, Issue No3/2015
In World With Too Much Crude Oil, 1,100-Foot

Steel Monsters Rule
The most destructive oil crash in a generation is giving ship owners a billion-dollar windfall.
With the Organization of Petroleum Exporting Countries abandoning output limits in a drive for market share, ships
that carry as much as 2 million barrels a trip are in demand to haul crude from the Middle East to Asia and North
America. While oil prices fell about 35 percent in 2015, average earnings for these carriers jumped to $67,366 a day,
the most since at least 2009, according to Clarkson Plc, the worlds largest shipbroker.
The stars are aligned for us right now, Nikolas Tsakos, the chief executive officer of Tsakos Energy Navigation Ltd.,
said in an interview at Bloombergs New York offices, adding that falling oil prices will likely stimulate demand and
cargoes next year. Tanker analysts are predicting the rate boom will persist for many of the same reasons oil
forecasters are bearish. OPEC shows no sign of reversing its market strategy, and Iran has outlined plans to ramp up
its exports once economic sanctions against the country are lifted. At the same time, the U.S. just repealed a fourdecades old limit on its exports.With on-land inventories already at record levels, this could mean more barrels will
eventually be stored on ships, further increasing profit, said Tsakos.
Biggest Operators
The biggest tanker operators who manage fleets from Europe are Euronav NV, based in Antwerp, Belgium, DHT
Holdings Inc., Frontline Management AS, which runs Norway-born billionaire John Fredriksens tanker fleet, and Tsakos
Energy in Greece. All have seen their shares rise this year while most energy producers have fallen.We are benefiting
from what is currently a challenging environment for the energy sector, said Svein Moxnes Harfjeld, joint chief
executive officer for DHT, in an e-mail. We expect 2016 to be a rewarding year.Tsakos, whose company gained 4.3
percent in New York trading this year, said the increase should have been higher, given that the underlying business
is doing very well. Too often, tankers are lumped in with other oil industry services in the minds of investors, he
said.Investors look at tankers as an oil service, which we are, Tsakos said. But I think very few have identified that
this side over here is the only oil service thats positively affected by the dropping oil prices. I hope in the new year
that this will be recognized, and our share prices are moving in the right direction.
Earnings to Double
While rates are forecast to slip in 2016, the ships will still earn $46,400 a day, the second best year since 2009,
according to the median of six analysts surveyed by Bloomberg and historical data from Clarkson. The average carrier
is about 332 meters long, or almost 1,089 feet, data from IHS show. The carriers earnings will more than double this
01-01-2016
Page 19

year, according to analyst estimates compiled by Bloomberg. The extra rates would work out at more than $5 billion in
additional revenues if applied across the entire fleet.A scenario in which crude oil prices are suppressed across 2016
could lead to a boom in tanker earnings of comparable magnitude to 2007-08, said Tim Smith, senior analyst at
Maritime Strategies International, said in a report.At the same time, low oil prices have served to stimulate world oil
consumption, which rose by by 1.8 million barrels a day in 2015, the highest in five years, according to the
International Energy Agency. With about 40 percent of the worlds crude shipped by sea, that will result in 1.4 million
barrels a day more cargoes this year, according to Clarkson data.One other factor related to the oil rout is that its
driven down fuel prices, further boosting tanker profits. At the start of October, earnings for Very Large Crude Carriers,
the official designation for the big tankers, exceeded $100,000 a day for the first time since 2008, according to data
compiled by Bloomberg.Moving forward, the carrier company Frontline expects rates to be firm, driven by a high
supply of oil, Chief Executive Officer Robert Hvide Macleod said in an e-mailed response to questions. Euronav NV
declined to comment.The very thing which has been negative for oil markets has been positive for tanker markets,
said George Los, a New York-based analyst for Charles R. Weber Co. We have seen a supply driven boost to the
tanker market which has come at the cost of the oil market. Source: Bloomberg
CASUALTY REPORTING
Ships collide in the access channel to the Port

of Santos; Authorities investigates
Accident happened early on Wednesday.
The SANDPIPER BULKER and the CLIPPER TRIUMPH collided in the early hours of Wednesday (30), the channel
giving access to the Port of Santos, in So Paulo. No one was injured in the incident. According to information of the
Company of So Paulo State Dock (CODESP), a ship left the port, while the other came when the collision happened.
The Pilotage reported that at the time of the incident, the pilot responsible for the operation had descended the ship
out of the Santos pier, while the other professional prepared to enter other watercraft. The Port Authority will
investigate the causes of the collision. Translated via Google translate Photo : Bruno Nunes / G1 source : globo
G1
01-01-2016
Page 20
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NAVY NEWS
the last of the six Spanish-built Santa Maria-class frigates, based on the American Oliver Hazard Perry-class design, of
the Spanish Navy, the ESPS CANARIAS F 86 off Grand Harbour, Malta on Tuesday 29th December,2015. Laid down
on 15 April 1992, and launched on 21 June 1993, Canarias was commissioned in service in 1995. Currently deployed in
the Mediterranean Sea in OPERATION SOPHIA. Photo : Capt. Lawrence Dalli - www.maltashipphotos.com
(c)
Intelligence Report Warns of Russian Naval

Buildup
BY: Bill Gertz

Following decades of neglect, Russian naval forces are being modernized with advanced submarines and increasingly
lethal ballistic and cruise missiles, according to a report by the Office of Naval Intelligence. The naval buildup includes
three new classes of advanced submarines and several new types of warships that the report warns will provide a
flexible platform for Russia to demonstrate offensive capability, threaten neighbors, project power regionally, and
advance President Putins stated goal of returning Russia to clear great power status.Following the collapse of the
Soviet Union in 1991, Russias navy was reduced in size, and many new weapons systems were canceled while
weapons were mothballed. Under Russian leader Vladimir Putin, the navy is getting substantial funding for new
weapons systems, with the goal of restoring Soviet-level power by 2020, according to the 68-page December report,
The Russian Navy: A Historic Transition.The publication seems to be evidence of further U.S. government recognition
that Russia, following its military annexation of Ukraines Crimea last year, is emerging as an elevated strategic threat.
Russia also is proliferating advanced weapons to other countries. The quantity and quality of the ships, submarines,
and armaments sold will transform the current capabilities of recipient states and, in some cases, potentially enable
them to improve the quality of indigenous arms production, the report says.Recent sales have included Kilo-class
submarines to Algeria and Vietnam, Gepard-class frigates to Vietnam, and a modified Kiev-class aircraft carrier to
India. Sales of high performance Club missilesthe export version of the Kalibr family of missiles have been
underway for over a decade.
This proliferation of high grade weapons is one of the most troubling aspects of Russian Federation adventurism
worldwide, the report said. Russias current strategy calls for using layered defenses of long-range missiles capable of
hitting targets some 1,000 nautical miles from Russian borders. The defenses are intended to counter U.S. Tomahawk
long-range cruise missiles.Russias wartime naval strategy remains focused on nuclear deterrence and layered
defense, the report says.The centerpiece of the Russian navy remains its missile and attack submarine force, currently
made up of 56 submarines. The current fleet includes 12 nuclear missile submarines, 26 cruise-missile equipped
submarines, and 18 attack submarines.A total of 31 major surface warships are currently deployed with most of the
ships over 20 years old.In July, Russian navy commander Adm. Viktor Chirkov announced that the nuclear submarine
fleet is the priority in the Navy shipbuilding program.The Office of Naval Intelligence identified submarines as
Moscows capital ships, and noted that several new classes are being built and deployed. The newest submarine is
what the report calls Dolgurukiy-class missile submarines, which are armed with SS-N-32 Bulava missiles with ranges
01-01-2016
Page 21

of up to 5,281 miles. The first was launched in December 2013. Two others are nearing deployment and plans call for
building eight submarines by 2020. The new attack submarine is the nuclear-powered Severodvinsk, launched in 2010,
with eight to be deployed by 2020.Another class of attack submarine is in development and will be used to protect
missile submarines.Mark Schneider, a former Pentagon strategic nuclear policymaker, praised the Office of Naval
Intelligence for producing the report. Im glad that ONI is now looking at the Russian navy threat and publishing on
it, Schneider said.My main criticism is the lack of attention to the Russian theater and tactical nuclear capability, he
added. Thirty years ago we had an in-kind deterrent against the Russian use of tactical nuclear weapons. This is now
entirely gone. We have left ourselves vulnerable to devastating attacks by Russian nuclear forces against the
navy.High tech weapons include laser and other directed energy weapons designed to damage or disrupt electronics
through radio frequency bursts.Russias long-term goal is a high-energy weapon with anti-satellite and cruise missile
defense capability, the report said.Moscow also is working on an electro-dynamic rail gun that uses electricity to fire a
high-speed projectile with a muzzle velocity of 6,500 feet per second.The near- and mid-term combustion-based
technologies are a transitional step to the creation of a railgun, ONI said.The attack submarines are capable of firing
advanced cruise missiles, including the new Kalibr missile that was recently fired by Russian warships in the Black Sea
against targets in Syria.Russia plans to deploy Kalibr capability on all new nuclear and non-nuclear submarines,
corvettes, frigates, and larger surface ships, the report said.Kalibr provides even modest platforms, such as
corvettes, with significant offensive capability and, with the use of the land attack missile, all platforms have a
significant ability to hold distant fixed ground targets at risk using conventional warheads.Plans call for adding the
Kalibr to old Russian ships and submarines as part of the naval buildup.Two diesel-electric submarines also are being
produced, the Petersburg and Kilo submarines, and an advanced diesel electric submarine called Kalina is planned
for 2020. The surface warship build up includes a new guided-missile corvette and four new types of guided missile
frigates. A new generation of guided missile destroyer also is planned, and a new class of aircraft carrier also is being
developed. For the carrier, the report identifies the new advanced fighter jet known as the PAK-FA that is in the testing
phase.The Russian Navy is being equipped with the newest [technology]; including precision long-range strike
weapons, and has big nuclear power, Chirkov was quoted as saying in the report. Naval forces today are capable of
operating for a long time and with high combat readiness in operationally important areas of the global ocean.The
report mentions the deployment of a new ocean research ship, the Yantar, which was launched in August. U.S.
intelligence spotted the ship conducting surveillance of U.S. missile submarine areas and underwater cables in the
Atlantic in late August and early September.The report makes no mention of the Russian autonomous underwater
nuclear weapon, code-named Kanyon, that was revealed on Russian television.However, the report says Russia has
developed advanced high-technology torpedoes, including wake-homing, high-speed super-cavitating devices, and a
super-heavyweight torpedo. One of Russias newest torpedoes is the multi-purpose depth homing torpedo (UGST),
which entered service in 2002, the report said. The UGST has a monopropellant-fueled axial piston engine with pump
jet propulsor. It is capable of acoustic, wire-guided, and wake-homing modes and is designed to be fired from both
submarines and surface ships.The torpedo can travel at speeds up to 50 knots with a detection range of up to 1.5
miles for submarines and a mile for surface ships. Source: Washington freebeacon
SHIPYARD NEWS
TRIYARDS contracted to build two oil barges

for CPC Corporation
TRIYARDS Holdings Limited (TRIYARDS or the Group), has secured contracts to build two oil barges worth NTD 716
01-01-2016
Page 22

million (equivalent to approximately about US$21.82m) from a new client, CPC Corporation (CPC), a Taiwan stateowned oil and gas company responsible for supplying energy to its domestic market, the shipbuilder said in a media
release. The new contract wins are for the construction of a pair of oil barges intended for coastal service and the
supply of bunker fuel to vessels in Taiwan's harbour and coastal areas to be delivered in 2QFY18.Mr. Chan Eng Yew,
TRIYARDS Chief Executive Officer, said: This attests to our continued efforts to diversify our orderbook beyond the
traditional O&G sector. Not only have we broadened our product range but we have also added another blue-chip
name to our growing pool of clients. With our flexibility in engineering and fabrication solutions, TRIYARDS is well
positioned to address opportunities beyond the O&G sector.TRIYARDS offers a broad spectrum of engineering and
fabrication services that are marketed under the TRIYARDS brand. The Company currently owns and operates
fabrication yards in Ho Chi Minh City and Vung Tau in Vietnam, as well as design and engineering facilities in Houston
in the United States and Singapore. The Groups acquisition of experienced aluminium shipbuilders Strategic Marine (S)
Pte. Ltd. and Strategic Marine (V) Company Limited in October 2014 has added both new fabrication capacity as well
as engineering capabilities in aluminium.The Groups yards in Vietnam are equipped with heavy-lift gantry cranes and
deepwater berths, and both facilities have the capability to undertake large-scale projects to fabricate different
components of fixed platforms, as well as vessel conversion and construction. TRIYARDS Houston provides the
designing and engineering of offshore equipments such as cranes, A-frames and winches, which can be installed on
the self-elevating units and offshore support and construction vessels fabricated in Vietnam.
Birds eye view of the TSHD JUN YANG I fitting out at Royal IHC in Kinderdijk
Photo: Hans van der Linden www.facebook.com/aerolinphoto (c)
Waigaoqiao Overtakes Mipo as Fifth Largest

Yard
Clarkson Research has released rankings showing that Shanghai Waigaoqiao Shipbuilding, a state-owned
subsidiary of CSSC, has stepped into the top five shipbuilders in the world with a backlog of 3 million compensated
gross tons. The firm displaced Hyundai Mipo Dockyard (the previous fifth largest) by a narrow margin. The yard list
has been dominated by Korean shipbuilders for some time, and Shanghai Waigaoqiao is the first Chinese firm to make
the top five. Aggregate production by tonnage has been higher in China for some time, but has been spread over the
many Chinese yards, preventing any individual firm from breaking into the highest ranks. Daewoo Shipbuilding,
Samsung Heavy Industries, Hyundai Heavy Industries and Hyundai Samho Heavy Industries led Clarkson's list.
Analysts forecast further declines for Korean yards as most sectors of the shipping industry contract. Korea's Exim
bank released a forecast Tuesday predicting a drop in new orders of 25 percent year over year in 2016. Due to a
severe slump in the offshore facility segment, the shipbuilding industry will continue to trend lower down the road,
the bank's research arm said in December. Demand for LNG carriers, one of South Korean shipbuilders cash cows, is
also likely to contract for the time being.The country's financial regulators have pushed shipbuilders to pursue
profitability over market share and to put an end to aggressive bidding practices to attract foreign clients. The top
three yards have all posted significant losses for 2015, totaling in the billions. Higher prices for newbuilds at Korean
yards could provide a further opening for low-cost Chinese competitors. Shanghai Waigaoqiao has the contract for the
first Chinese-built cruise ship, to be delivered to Carnival in 2020. It also built the CMA CGM ZHENG HE, a sister ship
of the CMA CGM BENJAMIN FRANKLIN, which became the largest container vessel to visit the U.S. when it docked
at the Port of Los Angeles in December. The ZHENG HE and her class are the largest container ships ever built in
01-01-2016
Page 23

China. Shanghai Waigaoqiao was on the first edition of the Chinese governments shipbuilder white list in 2014.
Source : MAREX
LaNaval laids the Keel of the Multipurpose vessel

Living Stone for the Dutch company TIDEWAY
LaNaval Shipyard in Spain has laid the keel of the offshore

multipurpose vessel LIVING STONE on the 30th of December, that is
building for the Dutch company Tideway, subsidiary of DEME. The
new Vessel, named LIVING STONE, will serve the offshore energy
market. She will be equipped with a fall-pipe and rock installation
system as well as cable/umbilical loading & installation facilities
including also subsea construction capabilities and will have dual fuel
engines with capacity to use Liquified Natural Gas as a fuel in order to
reduce emissions.LaNaval and Tideway signed the shipbuilding contract
for this vessel in January 2015. With the keel laying the building process
of the Living Stone starts at LaNavals slipway. The launching is planned
for next summer, being her delivery scheduled within the first half of
2017. Source : oceanhub
Fincantiery to build four cruise ships for

Carnival
Following the historic agreement subscribed in March 2015, Fincantieri has signed now a memorandum of agreement
with Carnival Corporation & plc for the construction of four new cruise ships of an overall value of about 2.5 billion
euros. The final contracts, subject to several conditions, including satisfactory shipowner financing, are expected to be
executed in 2016, the Group said Wednesday. Two ships will be built for the Costa Asia brand, one for P&O Cruises
Australia and one for Princess Cruises. The four units will all be built at the shipyards in Monfalcone and Marghera,
with deliveries scheduled in 2019 and 2020. Once entered into service in their respective fleets, they will serve growing
cruise markets, including China, Australia and others. Each unit will be designed and developed specifically for the
brand and for its reference guests. The 135,500-ton Costa Asia and P&O Cruises ships will carry 4,200 passengers.
Princess Cruises new 143,700-ton ship will carry 3,560 passengers and will be its fourth ROYAL PRINCESS class
vessel, after Royal, Regal and Majestic, currently under construction in Fincantieris shipyards and scheduled
for delivery in 2017. Giuseppe Bono, CEO of Fincantieri, stated: The signing of this agreement happens during a real
and beyond all expectations boom of the cruise sector. This announcement confirms, once again, the effectiveness of
our strategy: with these projects, based on those of the prototype units acquired in extremely challenging conditions,
we ensure our group not only continuity and development, but also a new-found profitability in this segment. We
01-01-2016
Page 24

will deliver on our fleet enhancement plan with the construction of these four new ships, that are consistent with our
long-term strategy of measured capacity growth over time, said Arnold Donald, CEO of Carnival Corporation. These
ships will be great additions to our fleet that support our goal to exceed guest expectations and create great vacation
memories for each guest onboard our ships. These strategic investments in new ships that wow our guests are an
important part of our measured growth strategy, which includes replacing less efficient ships with newer, larger and
more efficient vessels over a very specific period of time. This fresh momentum for the partnership between
Fincantieri and Carnival Corporation, announcing a program of this magnitude for the first time this year, is of the
greatest strategic importance not only for the shipbuilding industry but for the entire domestic economy. In fact, the
agreement highlights a long-term program by US-based Carnival Corporation, which has invested through its
partnership with Fincantieri over USD 25 billion in Italy, making it one of the country's largest foreign investors. In fact,
Fincantieri has built 59 ships for Carnival Corporations different brands since 1990, with another 10 ships for the group
currently in the companys orderbook. Fincantieri is is a leading shipbuilding group dedicated to the construction of
cruise ships and large ferries. The Company also specializes in building a wide range of ship types, including frigates,
corvettes, patrol vessels and submarines, offshore and mega yachts. Fincantieri has built 70 cruise ships since 1990 (of
which 47 from 2002) and other 14 ships are currently being designed or built in the Group's yards. In January 2013
Fincantieri acquired STX OSV (today VARD). Source : Portnews
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Admiralty Shipyards to deliver to Russian and

foreign customers 7 subs and an icebreaker in 2018
St. Petersburg, Russia based Admiralty Shipyards scheduled for delivery in 2018 to customers in Russia and abroad
seven submarines and one icebreakers, the shipbuilding company said.General Director of Admiralty Shipyards
Alexander Buzakov said that the three submarines and the icebreaker will be built for the Russian Navy and four
submarines will be delivered to foreign navy under the military cooperation agreements. He added that the
shipbuilding company has secured backlog of orders for the next two years. Admiralty Shipyards JSC (Admiralteysky
Verfy) is the oldest Russian shipbuilder. The company is part of Western Center of Shipbuilding owned by United
Shipbuilding Corporation. Admiralty Shipyards specializes in the design, construction and refitting / conversion of civil
vessels and warships for the Russian Navy. To date, the Company has built more than 300 submarines (including 41
nuclear-powered ships), 68 deep and underwater vessels. Currently four series of submarines for foreign Navy and
Russia's Ministry of Defense are under construction and a salvage ship Igor Belousov is undergoing sea trials.
Admiralty Shipyards workforce is 6,500 people. On November 5, 2015 the Company celebrated its 311 yrs anniversary.
Source : Portnews
Korean Shipbuilders Revamping Offshore Plant

Business Structure
According to Clarksons Research, the Okpo Shipyard of Daewoo Shipbuilding & Marine Engineering (DSME) and the
Geoje Shipyard of Samsung Heavy Industries recorded order backlogs of 8.244 million CGT (126 ships) and 5.032
million CGT (90 ships) as of the end of last month, respectively, ranking first and second in the world. The Ulsan
Shipyard of Hyundai Heavy Industries fell one notch to third by recording 5.002 million CGT (104 ships), although
Hyundai Heavy Industries had exceeded Samsung Heavy Industries by a margin of no less than 210,000 CGT at the
end of October. Fourth place went to Hyundai Samho Heavy Industries (3.924 million CGT, 92 ships), which was
followed by Shanghai Waigaoqiao Shipbuilding (3.03 million CGT, 78 ships). Hyundai Mipo Dockyard fell from fifth to
sixth by recording 2.846 million CGT and 127 ships. Shanghai Waigaoqiao Shipbuilding became the first Chinese
shipbuilder joining the global top five.Under the circumstances, Korean shipbuilders are regrouping themselves to
clinch the large-scale projects postponed during the course of this year due to the low international oil prices. To this
01-01-2016
Page 25

end, they are overhauling their bidding systems so that costs and profits can be calculated with a higher level of
accuracy, and loss-making orders can be avoided.Nevertheless, it is also said that adverse conditions will continue to
linger in the entire industry including the offshore plant segment. Each of the three largest Korean shipbuilders
currently has about 20 offshore plant construction contracts worth US$20 billion, which were won on a turn-key basis
a couple of years ago with the total costs insufficiently calculated. Most of the plants are scheduled to be delivered
from the second half of next year, and additional losses caused by unexpected variables could arise at any time.Those
contracts are said to be relatively vague when it comes to the responsibility for process delays. Besides,
postponements and cancelations can happen at any time due to the recession in the industry. As just one example,
the delivery date for the 650 billion won-worth drillship that the DSME has been building for two years has recently
been put off from the end of this month to June 2018.At present, oil majors such as Shell, Chevron and ENI are
discussing the resumption of their postponed projects with the top three shipbuilders, and the total amount is
estimated to be US$10 billion at the least. These projects include Shells US$4 billion FPSO project in Nigeria, ENIs
US$2 billion deal for FLNG construction in Mozambique, the Ubon Project of Chevron, and Petronas offshore gas field
project in Malaysia. The oil majors stopped their negotiations for the deals earlier this year, with international oil prices
plummeting. These days, however, they are looking to resume the projects, at least in part, on the determination that
offshore plants can bring substantial profits in the long term. Source : businesskorea
ROUTE, PORTS & SERVICES
Govt to disband Batam free trade zone

authority
Indonesian Home Minister Tjahjo Kumolo has said the government will close down the Batam Free Trade Zone
Management Agency (BPK FTZ) next year in an effort to eliminate the overlapping of authority in Batam.The minister
said the agency had lost around Rp 20 trillion (US$1.45 billion) in potential tax revenue in Batam over the last 10
years, which was a significant amount compared to the investments flowing into the industrial area.Based on
observation, there is an overlapping of authority and conflicts of interest between the BPK FTZ Batam and the Batam
administration so that this area cannot be developed. Missions to attract investors from Singapore also dont work.
Legally disbanding the BPK FTZ Batam will take time and we will therefore accelerate the process through a
government regulation, said Tjahjo. He was speaking on the sidelines of the inauguration ceremony of acting Riau
Islands governor Nuryanto, who is replacing Agung Mulyana who has retired, in Tanjungpinang on Wednesday.Tjahjo
said that based on the results of one year of evaluation conducted by the President Joko Jokowi Widodo
administration, the BPK FTZ Batam, which was previously called the Batam Authority, was not effective.Batam has
long been provided with various facilities. This is the time to end this special treatment. During the last 10 years, the
opportunity to raise Rp 20 trillion in tax revenue has been lost in Batam, said Tjahjo.The minister further said the
governments decision to disband the BPK FTZ Batam was made based on Cabinet meetings and would be finalized in
a meeting of the offices of coordinating ministers in the near future.President Jokowi has agreed. It was the President
who first called into question the benefits of having the BPK FTZ and it eventually led to the conclusion that one of
best solutions was to disband it. Many investors have moved their businesses from Batam. In trade activities in Batam,
the Singaporean government expected that the Riau Islands administration could become its partner. So I think
Batam-related problems must be cleared, said Tjahjo.The minister could not give details on measures that would be
taken to resolve the plans impacts on more than 2,000 BPK FTZ employees. However, he was optimistic that all
01-01-2016
Page 26

employee-related problems could be completely resolved next year.Separately, BPK FTZ Batam head Mustofa Widjaja
said the agency, which had developed Batam since 1971, had become a strategic partner of the Batam
administration.The Batam administration and the BPK FTZ Batam need each other, said Mustofa. He was unable to
comment on Tjahjos statement over the governments plan to disband the agency. Source : thejakartapost
Seacontractors ATLANTIS outbound from Gent with the DN 120 bound for Klaipeda
Photo : Richard Wisse www.richard-photography.nl (c)
Offshore Platform Fire Continues As Families

Compensated $12,800
The offshore platform fire, onboard SOCARs Gunashli platform 10, continues to rage almost a month after it
started, as the families of the dead oil workers receive US$12,800 compensation. The fire broke out on Thursday 4th
December only hours after a nearby platform in the Oil Rocks development collapsed resulting in three offshore oil
workers missing. CLICK HERE !Oil well blowout specialists Boots & Coots, a Halliburton owned company, had been
sent out soon after the fire broke to advise on closing the well in.No information has been given on the progress of the
operation, however, the platform fire will soon be entering its second month. The Gunashli platform 10 fire itself has
officially claimed the lives of 8, with 33 rescued, and the remaining 22 offshore oil workers being classed as missing
by operator SOCAR and the Azeri Ministry Of Emergency Situations. The search for the remaining 22 offshore oil and
gas workers continues, with the workers families invited to join the search Tuesday (29th Dec). The Azeri Ministry of
Emergency Situations said that after receiving a request from the families of the missing oil workers, three helicopters
were supplied to allow them to join in the offshore search and rescue operation. As part of a compensation package,
families of both deceased and missing oil workers, will be given 20,000 AZN, around US$12,800 in a so called onetime financial assistance. The Azeri government will be giving each family 15,000 AZN (US$9614), whilst the Azeri
state owned platform operator SOCAR has pledged 5000 ANZ (US$3205) to each family. source : Offshore Post
At CAGR of 16.2%, Global FPSO Market to

Reach US$43.39 bn by 2021
FPSO Market, By Type (Converted, New-build, and Redeployed), By Water Depth (Shallow water, Deepwater, and
Ultra-deepwater) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021
According to a new market report published by Transparency Market Research FPSO Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2021, the FPSO market was valued at US$15.86 bn in
2014 and is expected to reach US$43.39 bn by 2021, growing at a CAGR of 16.2% from 2015 to 2021.
Oil remains the major choice of fuel for the purpose of transportation and is not expected to change materially in the
foreseeable future. Deepwater oil discoveries is gaining significant importance attributed to the rapid depletion of
onshore existing oil fields and no significant discoveries of new fields in the past few years. Due to this factor, oil and
gas companies have pushed exploration offshore for discovering new oil reserves. During the past six years, around
50% of the offshore discoveries have been in deepwater and ultra-deepwater. Due to this factors demand for FPSOs
for offshore oil and gas production is expected to see a robust growth during the forecast period. FPSO industry is
capital intensive in nature. It requires high initial investment and substantially huge financing for construction or
01-01-2016
Page 27

building of a new FPSO unit. Building a new FPSO cost around USD 2.5 to 3 billion, however a cost of conversion of a
surplus oil tanker or aging hull is around USD 1.5 to 2.0 billion. Additionally, operation, testing and deployment costs
add to the total investment in a FPSO vessel. Furthermore, rising cost of materials and high labor cost due to inflation
is further affecting the return of investments (ROI) of FPSO operators. All these factors are posing as a major restraint
for the growth of FPSO market during the forecast period. Presently, the market is dominated by converted FPSO unit
than a new build FPSO vessel. Opportunities in FPSO market lies in increasing demand for conversion of oil tankers
into a FPSO vessel. FPSO builders are increasingly focusing on acquiring former oil tankers and converting it into an
advanced FPSO vessel. Moreover, opportunities lies in collaboration and partnership among various players present in
different stages of the value chain of FPSO industry aimed at faster deployment and construction of FPSO
vessel.Geographically, Americas led the FPSO market in 2015 and the region is expected to continue its dominance till
2021. Growth in this region is attributed to the increasing investment in exploration in offshore of Brazil and
development of new oil fields in the region. Additionally, Africa region is also expected to see a robust growth during
the forecast period attributed to the rise in demand for installation of FPSO units in the fields of Angola, Ghana, Nigeria
and Guinea.Key players have also been profiled on the basis of company overview, financial overview, business
strategies and recent developments in the field of FPSO industry. Major market participants profiled in this report
include MODEC, Inc. (Japan), SBM Offshore N.V. (Netherlands), BW Offshore (Norway), Bluewater Energy Services
B.V.(Netherlands), Aker Solutions ASA (Norway), Hyundai Heavy Industries Co., Ltd. (South Korea), Bumi Armada
Berhad (Malaysia), Yinson Holdings Berhad (Malaysia), Teekay Corporation (Bermuda) and Samsung Heavy Industries
Co., Ltd.
The report studies the global FPSO market, and provides estimates in terms of revenue (USD Billion) from 2015 to
2021. Market estimates on the basis of type and water depth for each region. source : industrytoday
. PHOTO OF THE DAY ..
The AHT PRESIDENT HUBERT navigating the Dutch coastal waters with the GIANT 7 enroute Poland
Photo : Flying Focus Aerial Photography www.flyingfocus.nl
01-01-2016
Page 28

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