10 de Enero de 2017, RESUMEN - Maritime News
Sobrecostos en la ampliación del Canal por $5,673 millones De prosperar el reclamo, las obras de ampliación de la vía interoceánica podrían duplicar el costo ARCHIVO | LA ESTRELLA DE PANAMÁ
La obra se entregó el pasado 26 de junio de 2016, con 18 meses de retraso.
Ismael Gordón Guerrel igordon@laestrella.com.pa El consorcio Grupo Unidos por el Canal (GUPC) fijó en $5,673,6 millones (5,363.6 millones de euros) el monto que reclama a la Autoridad del Canal de Panamá (ACP) por sobrecostos en las obras de ampliación de la vía. De prosperar las reclamaciones, las obras de ampliación del Canal podrían duplicar el costo. La ACP adjudicó, en el 2009, el proyecto a GUPC por $3,118 millones y la obra se inauguró a un costo de $5,450 millones. El informe de auditoría de los estados financieros de la ACP correspondientes al ejercicio 2016 -que se cerró el pasado 30 de septiembre— señala que el importe reclamado por el consorcio ha pasado de $3,277.7 millones (3,053.3 millones de euros) a $5,673.6 millones. El consorcio encargado de la construcción del tercer juego de esclusas, formado por la española Sacyr, la italiana Impregilo, la belga Jan de Nul y la panameña Constructora Urbana (Cusa), entregó la infraestructura el pasado 26 de junio de 2016. El proyecto de ampliación debía culminarse en octubre de 2014, pero las obras fueron paralizadas en varias ocasiones por discrepancias entre las partes sobre la cuantía de los sobrecostos. GUPC tenía un plazo determinado, una vez concluidas las obras, para comunicar a la ACP el costo máximo susceptible de ser reclamado. El informe financiero de la ACP detalla que ‘el 10 de diciembre de 2016, GUPC comunicó al tribunal arbitral encargado de dirimir las diferencias con el concreto, de la existencia de dos solicitudes de arbitraje que GUPC indica haber presentado el 8 de diciembre de 2016 ante la Corte Internacional de Arbitraje de la CCI, y cuyas copias fueron adjuntadas en la comunicación'.
El grueso de las reclamaciones por parte de GUPC se debe a la calidad del basalto, fallas inesperadas en los terrenos sobre los que se desarrollaron los trabajos, huelgas y cambios normativos. La ACP explica en el informe de los Estados Financieros que las solicitudes no precisan el monto total de cada demanda, pero incluyen un anexo que remite a la Declaración de Terminación presentada por GUPC. La ACP estima que el importe de las solicitudes es de $4,448.7 millones y $541.1 millones, respectivamente. Como consecuencia de estas solicitudes -añade la ACP en sus estados financieros— ‘el monto reclamado por GUPC aumentó' de $3,277.7 millones a $5,673.6 millones. A 15 de diciembre de 2016, la ACP había dotado provisiones por importe de $3,227.7 millones (3,053.3 millones de euros) para hacer frente a las reclamaciones presentadas por GUPC, según consta en el informe. La ACP explica que las solicitudes no precisan el monto total de cada demanda, pero incluyen un anexo que remite a la Declaración de Terminación de GUPC. La ACP destaca que la mayoría de los reclamos incluidos en estas solicitudes se encontraban ya en las instancias previas al arbitraje y, por consiguiente, no habían sido resueltos por la Junta de Resolución de Conflictos (DAB, por sus siglas en inglés) que es la instancia previa que el contrato exige como requisito para someter la disputa a arbitraje. De hecho, sigue destacando la ACP, algunos ni siquiera han sido presentados al oficial de contrataciones de la ACP que tendrá la oportunidad de pronunciarse sobre estos reclamos, luego de ser notificada formalmente por la secretaría de la Corte arbitral.
Panama Canal Cost Overrun Claim Rises $2 Billion By MarEx 2017-01-09 20:24:52 Grupo Unidos por el Canal (GUPC), the contractors' consortium that built the Panama Canal Expansion, may claim a total of up to $2 billion in additional cost overruns from the Panama Canal Authority, according to figures published Monday by Spanish newspaper El Pais.
The Canal was originally bid at $3.2 billion, but GUPC has now reserved the right to claim up to $5.4 billion more, potentially tripling the canal’s final cost. The group, led by Spanish construction giant Sacyr, expects at least six more years of litigation before its claims are resolved. The new maximum figure alllows GUPC the flexibility to make future claims in spite of an approaching contract deadline, and it may decide not to file for the full amount. The joint venture has already won arbitration claims for $200 million and $17 million in separate proceedings. A dispute resolution board dismissed a claim for $100 million in August, and GUPC was expected to appeal. The cost dispute is highly controversial in Panama. GUPC may even face criminal charges in a complaint filed by Panama's National Bar Association: The association's vice president, Juan Carlos Arauz, told media service EFE last year that “we're asking for an investigation into the possible defrauding of the nation's resources” in GUPC's claims. GUPC asserts that Panamanian authorities gave it faulty information on the region’s geology, leading it to underestimate the difficulty of the project. In addition, labor disputes, the quality of the underlying rock strata and regulatory issues led to further delays. Even before the beginning of the canal's construction, Panamanian authorities questioned whether GUPC's bid was realistic and achievable. The 2010 Wikileaks diplomatic cable release revealed that then-Vice President Varela doubted GUPC's ability to perform the task: he told the U.S. consulate's deputy chief of mission that “when one of the bidders makes a bid that is a billion dollars below the next competitor, then something is seriously wrong. Of course I hope for the best, but I’m afraid that [the APC] has made a big mistake.” The next lowest bid in the competition for the Canal's construction, from the Bechtel/Taisei/Mitsubishi consortium, came in at $4.2 billion.
Maersk Oil to Lay Off 160 Employees File image courtesy Maersk Oil By MarEx 2017-01-09 18:48:57
Maersk Oil announced Monday that it would be reorganizing its core Danish Business Unit, consolidating all employees at one location and eliminating 160 positions. The first phase of reorganization will be completed in the first quarter. “What we are announcing today will ensure our long term future in a sustainable manner and it is a step in our efforts to support the Maersk Oil North Sea ambitions," said Patrick Gilly, managing director of Maersk Oil DBU. "The simpler organisation enables us to operate in a leaner and more integrated way with a maintained focus on creating maximum value from safe operations of the mature fields in the Danish North Sea.” Maersk Oil has been cutting back on overhead, staffing levels and exploration activity throughout the past year. The energy unit of shipping conglomerate Maersk Group is experiencing the same difficult conditions as the rest of the offshore oil industry, but in addition, it faces the loss of the "cornerstone of [its] business" – the Tyra facilities in the North Sea and the Al-Shaheen project in Qatar. If both Tyra and Al-Shaheen are subtracted from Maersk Oil's total production, it would reduce the firm's output by roughly one third (based on 2015 numbers and before accounting for new assets coming online). Maersk recently said that despite major investments, continued production at Tyra would be unsafe due to new knowledge on storm wave impact. The firm lost its bid to renew a 25-year contract Al-Shaheen last July, and the field's operation will be taken over by Total and Qatar Petroleum instead. Maersk Group announced plans to spin off its energy businesses in September, and as of November it was said to be in talks with DONG Energy about merging the two firms’ petroleum divisions. Inside sources say that the negotiations ended mid-December when Maersk and DONG failed to reach an agreement on price.
Two Asian Shipyards to Close By MarEx 2017-01-09 20:42:28 Singapore-based offshore services company Vallianz has closed its repair and maintenance shipyard in Singapore, and the move will soon be followed by another closure in the region when Hyundai Heavy Industries closes its Gunsan yard.
Vallianz will consolidate its yard operations in Batam, Indonesia, citing slower market conditions for its streamlining initiative which includes the closure of non-core business units so that it can focus on vessel chartering. Other closures include the group’s third party crew management and travel services. The Batam marine base will continue to service the group’s fleet and support its chartering activities, particularly in the Middle East. South Korean Suffering Continues Media reports indicate that Hyundai Heavy Industries will cease operations at its Gunsan Shipyard in March, a move first touted last year. The Gunsan yard is a relatively new operation that started up nearly 10 years ago. Its 650 employees have been offered voluntary redundancy. Workers that choose to stay will be transferred to the company’s Ulsan shipyard. The yard, located in Jeonbuk Province of South Korea, was opened in October, 2007, with ship block construction starting in April, 2008. The shipyard was equipped with a building dock of one million dwt class and a crane of 1,650mt, capable of building 12 to 14 large ships annually. South Korea’s Samsung Heavy Industries, Hyundai Heavy Industries and DSME years reported combined losses of $7.5 billion last year. The order backlog held by South Korean shipyards fell to the lowest level in over 13 years in December, according to Clarkson Research Services data. China Could See More Yard Closures In November, China set new requirements for its "White List" of shipyards that are likely to reduce the number of the state-approved yards to 59, down from 71 – a continuation of the trend towards consolidation in the sector. Since then, seven Chinese shipyards have formed an alliance to share rig building resources. The China Offshore (Deepsea) Industry Alliance, was established on December 28, 2016, and includes Yantai CIMC Raffles, Shanghai Zhenhua Heavy Industries Company (ZPMC), Cosco (Qidong) Shipyard, Shanghai Waigaoqiao
Shipbuilding (SWS), China Merchants Heavy Industry (Shenzhen), Dalian Shipbuilding Industry Offshore and Cosco Shipyard. The yards are all on the Chinese government’s November 2015 White List.
Drewry: New Alliances to Have Limited Effect on Ports The seemingly never ending move towards reduced service frequency may be coming to an end for North European ports, even with the formation of the bigger alliances in April, according to shipping consultancy Drewry. The establishment of the Ocean and THE alliances in 2017 is likely to only have a limited effect based on the announced schedules. The aggregate number of loops in the Asia–North Europe and North Atlantic trades remains unchanged, and individual ports will see no major change to the number of loops calling, in marked contrast to the changes seen during 2016 though, Drewry said. Overall, there has been a 10% drop in the number of east-west loops over the last 12 months, with those removed all being operated by the alliances. Two out of nine weekly loops have been removed from the North Atlantic trade, and three out of 18 loops were removed in the Asia-North Europe trade. However, average vessel sizes have increased by 4.3%, indicating that the alliances have used the reduction in the number of loops as part of an effort to reduce overall ship capacity, so to match it more closely to demand. There have been significant changes in the number of loops per week calling at individual ports, particularly in France/Benelux. Le Havre and Rotterdam lost four and six loops respectively; Zeebrugge lost its only two east-west loops. Bucking this trend, Antwerp achieved a gain of two loops. With the overall reduction in the number of alliance loops, two North Atlantic and three Asia-North Europe, it should be expected that those ports where an alliance has several calls will see a reduction as the alliance will still have calls at that port on other loops, according to Drewry. When the number of alliances reduces, some rationalisation of port calls might be expected as most lines will have access to an increased number of loops. “This port call rationalisation is not happening with the 71 current loop port calls per week reducing only to 70 per week for the new alliances,” Drewry said, adding that “the ports will not have to cope with fewer port calls and larger box exchanges, but rather, the status quo will prevail.” World Maritime News Staff; Image Courtesy: Shipspotting
Gatun Locks’ Lane to Close for Unexpected Repairs
zoomImage Courtesy: Panama Canal Authority The East lane of the Gatun Locks will be out of service for three days in order to perform “unforeseen repairs” on the northeast approach wall, according to an advisory released by Panama Canal Authority. The ACP said that the lane will be closed starting from 8 pm local time today, and the works are scheduled to be completed by 8 pm on January 12, 2017. As a result, and in accordance with the rules governing the Transit Reservation System, Condition 2 for the Panamax locks will be in effect from Tuesday until Thursday. The Panama Canal Authority started receiving applications for reserved transits while Condition 2 is in effect on January 7, 2017. The just-in-time (JIT) transit slots available for supers are to be reduced during this period to one for each direction, whereas the JIT slots for regular vessels transiting without restrictions will remain at one for each direction. Booking slot available through the auction process, as well as the slots available for regular vessels less than 300 feet in LOA, and the slots for Neopanamax vessels, will continue to be offered during this period, ACP informed. World Maritime News Staff; Image Courtesy: Shipspotting
Conbulk Sells Two Boxships for Scrap zoomImage Courtesy: Shipspotting Greek shipping company Conbulk Shipping SA has decided to dispose of its two Handysize containerships, sending them to a shipbreaking yard in India and another unknown yard, VesselsValue’s data shows. The ships in question are the 23,000 dwt Cresco and the 22,400 dwt Sonoma and they were sold for USD 335/ldt (light displacement) and USD 341/ldt. Market value of the first vessel stands at USD 2.45 million and of the second at USD 2.57 million. The 1,728 TEU Cresco and the 1,684 TEU Sonoma were built by Poland-based shipbuilder Stocznia Szczecin Nowa in 1996 and 1997, respectively. Apart from the two sold vessels, Conbulk’s fleet is currently comprised of nine containerships – six Handysize vessels and three Sub-Panamaxes, according to VesselsValue’s data. World Maritime News Staff; Image Courtesy: Shipspotting
Infographic: Top 10 Shipowning Nations The shipping industry sailed through difficult times during 2016, and today we take a look at how these conditions influenced the shipowners through an infographic showing the top 10 shipowning nations by value (USD million), provided by VesselsValue. Greek owners retain their top spot but in the cargo sectors have lost nearly 12% of their fleet value. The Japanese come even closer to stealing the lead falling less than 1% in value. In the sixth place and down from the fourth, the German cargo fleet has lost close to 30% of its value attributable mainly to the depressed container market.
Bulkers have had a deceptively good 2016 following record lows at the start of the year. The top three bulker owning nations, Greece, Japan and China, have seen their fleets rise by over USD 4 billion each. This growth has been supported by strong acquisition following some of the lowest asset prices seen since the 1980s. The German container fleet shrunk by nearly USD 11 billion throughout 2016 after large losses in the sector. The largest softening was experienced in the Panamax and Post-Panamax sectors with some vessels losing up to 60% of their value. German losses are fuelled by this as 59% of their fleet consists of the two mentioned types of ships. Greek tanker owners started 2016 earning more than USD 10,000 per day on their vessels. However, the rest of the year has been predominantly bearish. By the end of 2016 the Greek fleet has shrunk by close to USD 11 billion. Coming in second was the USA whose fleet lost USD 4 billion, less than half of the Greek losses. Infographic Courtesy: VesselsValue
Gallery: MEGI LNG Carrier Traversing Panama Canal Image Courtesy: Teekay
The images above show Oak Spirit, an M-type, electronically controlled, gas injection (MEGI) -type liquefied natural gas (LNG) carrier, crossing the Panama Canal for the first time in 2016. The 173,000 cubic meter ship was delivered to its owner, Teekay LNG Partners, from South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) in August 2016. Following the delivery, Oak Spirit started its five-year fee-based contract with Houston-based energy company Cheniere Energy, lifting volumes from Cheniere’s Sabine Pass LNG export facility alongside Creole Spirit, its sister vessel. On January 6, 2017, Oak Spirit delivered the first cargo produced in the contiguous United States (US LNG) to Joetsu LNG Terminal of Chubu Electric Power Company in Japan. The cargo was loaded onto the ship at Sabine Pass LNG Terminal in Louisiana, operated by Cheniere Energy Partners, on December 7, 2016. On its way to Japan, the ship transited the Panama Canal. Oak Spirit is the second of eleven MEGI-type newbuilding vessels being built for Teekay. Seven more vessels are being built at DSME including Torben Spirit, scheduled for delivery in 2017. According to Teekay, two additional LNG MEGI newbuildings will be built at the Hyundai Heavy Industries (HHI) shipyard.
Port Klang to Compete with Singapore? 10 Jan 2017 Ports
Container Handling, Containers, Finance, Global Economy/Trade, Port Governance, Port Planning,
The Port Klang Authority (PKA) in Malaysia has revealed that they plan to develop and build a new terminal on the nearby island of Pulau Carey. The massive terminal complex is set to cost around USD $44.5 billion and cover and area of 100sq km. The project also envisions a port that will be capable of handling 30 million TEU of container cargo annually. In an interview with The Star, the Chairman of the PKA, Mr Kong Cho Ha, said "The whole of Port Klang is very congested now, and the ports are reaching maximum capacity. So we need to build another deep-sea port and develop capacity now to cater for our needs and growth". According to Mr. Kong, who is also Chairman of the nearby Malacca Port Authority, the 20-year project will comprise the development of an integrated port and related infrastructure, industrial parks and free trade zones, commercial and residential buildings. Mr. Kong also claimed that the new project is essential if Malaysia want to compete with Singapore for container trade. Expansion plans are also taking place at Kuala Linggi International Port in Malacca, where there will be a focus on the oil and gas industry. Last August (2016), the Malaysian Port of Tanjung Pelepas was rocked by a 70 tonne oil spill.
Post-Panamax Preparation for North Carolina 10 Jan 2017 Cargo Volumes and Throughput, Carriers, Container Handling, Ship-to-Shore Quay Cranes, Mega Ship Ready, Port Planning, Ports, Security and Logistics, Shipping
North Carolina Ports has ordered two New Panamax ship-to-shore cranes as part of its ongoing infrastructure investment plan to invest $120 million over the next few years to accommodate a majority of larger ships transiting the Panama Canal. The authority's Port of Wilmington can handle a 10,000 TEU class vessel with its expanded turning basin, post-Panamax berth and post-Panamax cranes, but is expanding through new projects to provide for larger vessels. It will receive the crane order in the spring of 2018 and could have a total of 10 container cranes operating over 2,650 feet. This is currently estimated to cost $27.4 million in total but an option to add two more cranes from designer Shanghai Zhenjua Heavy Industry Co. (ZPMC) could see this figure increase. North Carolina Ports will allocate further funding to a turning basin expansion project, various berth improvements, the expansion of the container yard and the addition of new cranes. Paul J. Cozza, Executive Director, said: “This investment ensures that our best-in-class efficiencies will continue well into the future. Our high vessel and terminal productivity will be enhanced with this addition, thus keeping vessels on schedule and reducing inventory and logistics costs.” Tom Adams, North Carolina Ports Chairman, said: “North Carolina Ports’ expansion enables shippers to gain unprecedented access to the US East Coast. The work underway will allow the Port of Wilmington to accommodate multiple post-Panamax container ships and to increase the speed and efficiency of loading and unloading the vessels.”
Traffic Resumes at US Port of Virginia zoomImage Courtesy: Port of Virginia
Following the passage of Winter Storm Helena, the US Coast Guard (USCG), Captain of the Port (COTP), has fully reopened the Port of Virginia to commercial vessel traffic. After the winter storm exited the Mid-Atlantic and Hampton Roads Regions, the USCG lifted the restrictions on January 8, 2017. “The port is back open without restrictions. However, we urge mariners to be cautious of and to report any hazards to navigation following the storm,” Ian King, Lt. of Sector Hampton Roads’ Prevention Department, said. At the Port of Virginia, terminals experienced snow accumulation between 7-9 inches, in line with forecast expectations, according to the port. “The Port of Virginia is constantly monitoring conditions on terminal, adjusting our operating plans as necessary,” the port said. The USCG closed the port at midnight, January 6, 2017.
DryShips Buys First VLGC zoomImage Courtesy: Nasdaq Greek owner of drybulk carriers DryShips Inc. has exercised its first option to acquire one very large gas carrier (VLGC) currently under construction at South Korean shipyard Hyundai Heavy Industries (HHI) for a purchase price of USD 83.5 million. The VLGC, scheduled to join the company’s fleet in June 2017, will be employed on a fixed rate time charter with five years firm duration to an undisclosed oil major. The charterer has options to extend the firm employment period by up to three years. DryShips said that the total gross backlog associated with this time charter should be USD 54 million, or USD 92.7 million including the optional periods. Part of the purchase price of about 25% will be paid on closing, expected within January, with the balance payable in installments until the vessel’s delivery from HHI. “We are very pleased to have declared our first option to purchase a high specification VLGC with long term employment to an oil major at above market rates. This acquisition allows us to deploy the company’s available liquidity immediately and will be highly accretive to earnings and cash flow,” George Economou, Chairman and Chief Executive Officer, said. “This marks the first acquisition of the company since the restructuring of its balance sheet and our first investment in the gas carrier segment which we believe has very positive long-term fundamentals,” Economou added. The purchase is a part of a “zero cost” option agreement which DryShips signed earlier in January to purchase up to four high specifications VLGCs capable of carrying liquefied petroleum gas (LPG). The remaining three vessels are scheduled for delivery in September, October and December of 2017, respectively. If DryShips exercises all four of its options, the total purchase price of the VLGC fleet will be USD 334 million.