COS Weekly Newsletter
24 March 2017
TransCanada seeking approval to start building pipeline
TransCanada has applied to the National Energy Board for regulatory approval that would allow them to start contruction of the North Montney Mainline.The company has received conditional federal and provincial approvals for the NMML, however they are subject to a final positive investment decision by Petronas, the primary backer of the Pacific Northwest LNG Project on Lelu Island in Prince Rupert. Construction is estimated to cost around $1.4 billion and will connect the NMML project with TransCanada's existing pipeline network, allowing the company to ship the gas to markets across Canada and into the United States. If regulatory approval was provided, TransCanada could begin construction of the pipeline in the first half of 2018.
Container Company Executives ordered to testify in U.S. Antitrust Probe
The U.S. Department of Justice antitrust investigators served subpeona's on top container shipping container executives last week while they were in San Franciso to attend the Box Club meeting. The Box Club includes CEO's of major containers lines and only the heads of each company may participate in it's twice yearly meetings. US antitrust attorneys sit in on the meetings, even when they are held outside the U.S, to ensure that discussions do not go into legally precarious territory such as pricing. Quite often, the group also invites economists or industry analysts to attend. Under limited US antitrust authority granted by the federal maritime regulators, container lines that belong to discussion agreements can meet to discuss and agree on voluntary rate guidelines. The carriers are subject to the DOJ's antitrust prosecution if they exceed this authority by jointly fixing rates.
Companies that have confirmed that they were served subpeona's include Maersk Line, MSC, CMA CGM, Hapag Lloyd, Evergreen and OOCL among others. At this time no specific details have been released, and it should be noted that a subponea does not mean that a company has engaged in illegal behavior.
China - Foreign vessel penalized for use of fuel over 0.5%
Following the above referenced publicly reported case, there have been at least two other foreign flagged vessels that have been penalized by the MSA for allegedly using non-compliant fuel. Vessels are urged to comply with the latest PRC ECA low sulfur content requirement regulations to avoid detention or some form of penalty.
Market Report - March 24, 2017
Tuesday, 28 Mar 2017 09:00 – 16:00
Wednesday, 29 Mar 2017 17:30 – 19:00
Thursday, 13 Apr 2017 18:00 – 22:00
Friday, 21 Apr 2017 17:30 – 21:30
Wednesday, 10 May 2017 00:00 – Friday, 12 May 2017 23:59
Tuesday, 16 May 2017 11:00 – 20:30
Tuesday, 30 May 2017 00:00 – Thursday, 01 Jun 2017 23:59
Thursday, 01 Jun 2017 00:00 – Saturday, 03 Jun 2017 23:59
Friday, 23 Jun 2017 14:00 – 18:00
Thursday, 13 Jul 2017 12:00 – 19:00
Thursday, 10 Aug 2017 12:00 – 16:00
Saturday, 26 Aug 2017 08:00 – 13:00
Friday, 29 Sep 2017 18:00 – 22:00
Ship of the Week
Mar 24 - Seajacks Scylla
Having been delivered in 2015, Seajacks Scylla is considered to be the world’s largest and most advanced Offshore Wind Farm Installation Vessel. The vessel is purpose designed and constructed to meet the environmental rigors associated with working the UK and North West European markets. Operating at depths of up to 65m and with an open deck space of 4,600m2, Seajacks Scylla is ideally suited to servicing the ever expanding market for off-shore wind farm installation.
Built by Samsung Heavy Industries, Geoge City, South Korea
Seajacks Scylla is uniquely equipped with a 1,540 MT leg-encircling crane capable of meeting the installation needs of jumbo-monopiles, jackets, and turbines of future wind farms in deeper waters further from shore.
She recently visited the Port of Rotterdam for a mooring system upgrade following her first successful assignment on Phase 1 of the Veja Mate Offshore Wind Farm Project which included the installation of 67 foundation monopiles off the coast of Germany, each weighing approximately 1,300 MT.
The vessel left Rotterdam for Esbjerg in Norway where she was mobilized for Phase 2 of the Veja Mate Offshore Wind Farm project (location shown in the above map) which includes the turbine installation of 67 Siemens SWT-6.0-154 wind turbines. Each turbine has a capacity of 6MW and a rotor diameter of 154m, to produce enough electricity for 400.000 German homes each year.
Based in Great Yarmouth (UK), Seajacks was acquired in 2012 by Marubeni Corporation and Innovation Network Corporation of Japan (INCJ), a government-sponsored private equity corporation.
Ship of the Week contributed by Captain Stephen Brown, West Pacific Marine Ltd.
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