Marine Log - January 2009 - (Page 7)

Update INL AND • COASTAL OFFSHORE • DEEPSEA INTO THE BRAZILIAN DEEP biz NOTES NCL, STX France settle dispute Norwegian Cruise Line (NCL) reached an agreement with STX France Cruise SA that will cancel the second of two F3 Project planned cruise ships. Back in September, a dispute arose between NCL and STX Europe (then still Aker Yards) over the cost of the first of two F3 vessels ordered in 2006, with a total value of EURO 1.47 billion (about $2 billion) and scheduled for delivery in 2010. Under the revised order, STX France Cruise will build one F3 ship at 150,000 tons with a total of 4,200 passenger berths, and a delivery set for late May 2010. he FPSO Espirito Santo with MISC will operate the unit has arrived offshore offshore Brazil. Brazil, following The FPSO is to be charits delivery tered by the BC-10 Joint from Singapore’s KepVenture, which is operpel Tuas in Novemated by Shell with bbl ber. ONGC Campos Ltda. storage and Petrobras, under a The FPSO, which is part of the BC-10 deeplong term lease and operawater development in the tion contract for the BC-10 Campos Basin offshore Brazil, deep water field development. will be hooked up to the With a storage capacity of up anchoring system in 1,780 m of to 2 million barrels, the FPSO is water depth followed by instal- designed to produce 100,000 lation of the subsea flow lines, barrels of oil with gravity rangrisers and umbilicals. SBM Off- ing from 16 degrees API to 42 shore N.V. in a joint venture degrees API, and to treat up to T 2m 45 MMSCFD of gas for injection or export. It will be the deepest FPSO of the SBM fleet and the first turret moored FPSO in the world using steel catenary risers for fluid transfer. Keppel Tuas refurbished and converted the unit over a 19month period. The 123.5m Normand Installer, an offshore construction vessel based on a VS 4204 design jointly owned by SBM and Solstad, will handle the deepwater FPSO installation and hook up activities. Davie Yards gets financing offer Last month, Stockwell Day, Canada's Minister of International Trade and Minister for the Asia-Pacific Gateway, authorized Export Development Canada (EDC) to make available up to C$380 million (S307.8 million) in financing and guarantees for Davie Yards Inc., which recently put its entire 1,100 person labor force on temporary layoff. The EDC funding is being provided to help Davie complete an order for five ships for two buyers. The support is conditional on agreement being reached on the terms and conditions between EDC and Davie Yards. The Minister's office said the contracts will help maintain 1,100 direct jobs and could add 500 new jobs to the Quebec City region. “Shipbuilding is an important industry for Canada,” said Minister Day. JANUARY 2009 MARINE LOG 7 Heavy lifter to be scrapped WHAT WOULD HAVE been the world’s largest heavy lift vessel is headed for the scrap heap. Back in December 2006, MPU Offshore Lift ASA inked a EURO140 million (about $193.2 million) contract with Keppel Verolme, Rotterdam, for the MPU Heavy Lifter, a floating heavy lifter for the decommissioning of offshore structures. The specialized vessel was aimed at a promising platform decommissioning market. Estiwww.marinelog.com mates are that there are about 400 platforms in the North Sea and as many as 4,000 worldwide that must be removed. However, MPU Offshore Lift filed for bankruptcy in July 2008 and Keppel Verolme ceased work on the project . Keppel Verolme, a wholly owned subsidiary of Keppel Offshore and Marine Limited, has evaluated all possible options and has secured the necessary rights and endorsements from third parties to dismantle and dispose of the concrete hull, which it says has “no commercial value.” The dismantling of the concrete hull will free the dry dock for other work at Keppel Verolme. The dismantling is expected to begin this month and be completed in about three months. http://www.marinelog.com

Table of Contents Feed for the Digital Edition of Marine Log - January 2009

Marine Log - January 2009 Contents Editorial Second Thoughts Update Inside Washington What's On Your Hull? That Sinking Feeling Newsmakers Tech News Contracts Wake Up Call From Mumbai Events Security Guide Vietnam Stretches its Portfolio ML Buyer's Guide ML Marketplace Marine Salvage

Marine Log - January 2009

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