GLOBAL cargo transportation provider and airline Amerijet International is to launch a thrice weekly air cargo service between Miami and the capital of Nicaragua, Managua effective immediately.
The Miami-based Boeing 767-200 and B727-200 freighter operator is to extend its coverage to Central America which currently operates to and from El Salvador, Honduras, Mexico and Belize.
On top of the thrice weekly scheduled flights, it is to include a Sunday flight to support local importers wishing to receive and clear freight as early as 8am on Mondays at Managua's Aeropuerto Internacional Augusto C Sandino (MGA).
Its new facility can support perishable goods, hazardous materials and dry shipments for the local maquila (manufacturing operations in a free trade zone) industry, said its regional director of Central America, Alejandro Diaz-Vega. The new facility is open from 8am to 4pm on Mondays through Fridays and from 8am to noon on Saturdays.
At Amerijet's primary hub of Miami International Airport, it has a 19,500-square-metre export and 9,290-square-metres import air-cargo-handling facilities, as well as a 4,645-square-metre ocean cargo facility.
A custom-built 956 square-metre (21,127-cubic-metre) cooling facility was specially designed offering refrigerated and chilled storage space sub-divided into four climate-controlled chambers.
Shipping Gazette - Daily Shipping News
The Government of Kazakhstan approved a list of subsurface sites and deposits of strategic importance. Prime Minister of Kazakhstan Karim Masimov signed the Government Resolution, PM Karim Masimov's website reported.
The list includes 361 deposits including 45 raw hydrocarbon, oil, gas and condensate deposits. These are Kashagan, Karachaganak, Karazhanbas, Kalamkas, Kumkol, Tengiz, Uzen, Satpayev deposits and fields in the Caspian Sea - Zhemchuzhina, Tyub-Karagan, Makhambet, Bobek, Zhambyl, etc.
Besides, 54 uranium deposits including Glubinnoye, Akdala, Inkai, Kyzylkol, Mynkuduk, Southern Karamurun, Shokpak, etc. were included into the list as well as the deposits of diamonds, bauxite, iron, wo0lframite, gold, copper, nickel, and other raw materials.
Besides, about 200 sources of fresh groundwater in different regions of the country were included into the list.
Central Asian News Service, en.ca-news.org
CU Kazakhstan’s mutual trade with the Customs Union countries totaled 3,106.0 million US dollars from January to February 2012, what is also 7.6% greater than in January-February 2011. This rate includes exports reaching 977.1 million US dollars, dropping 21.3 %, and imports - 2 128.9 million US dollars with an increase of 29.3%, CaspioNet agency reported.
Statistical data shows that Kazakhstan’s exports are dominated by mineral products, metals and their products, as well as chemical products. Mineral products, machinery and equipment, metals and their products, as well as chemical products are mainly imported from Russia and Belarus.
Central Asian News Service, en.ca-news.org
Asia box shippers highlight need for better collaboration with logistics and transport industry to adapt to new trade growth opportunities
Reliability, responsiveness and communication top shipper wish list at TOC Container Supply Chain Asia 2012 conference
Better partnerships and collaboration among cargo owners, shipping lines and logistics operators is the key goal for industry executives keen to make the most of Asia’s growing economies and robust markets, said Mark Holloway, APAC Customer Service and Logistics Director for drinks giant Diageo, at the recent TOC Container Supply Chain Asia 2012 conference in Hong Kong. The 3-day conference and exhibition was attended by nearly 1,000 container logistics, transport and port industry executives from Asia Pacific, Europe, Africa, Middle East and the Americas.
Speaking to a high-level audience of shippers, carriers, 3PLs, ports and other Asia container supply chain members gathered for the annual event, Holloway emphasised that better partnerships should aim to improve services for customers and eventually win their trust. “We are becoming more customer-centric and need our partners to do the same,” he said, noting that for Diageo, performance today is “as much about planning and logistics as procurement and manufacturing.” The complexity of container booking documentation, limited proactive information, data fragmentation along the supply chain and highly variable delivery performance were among the key logistics challenges that he highlighted.
Holloway added that the size of the vessel carrying the cargo, or whether a 3PL is involved, matter far less than knowing whether containers will arrive on time. And in case of change or delay, shippers simply want sufficient forewarning so that they can mitigate the effect before it impacts the whole supply chain. In short, there is often a lack of proper end-to-end visibility between all the parties.
Significant changes in Asia trade volumes and patterns in the coming few years will drive greater demand for fast response logistics oriented towards import and domestic business, said keynote conference speaker Tommy Lui, Executive Vice President of global procurement specialist Li & Fung. Outlining the tremendous potential that will persist across Asia, and why the region is likely to remain the fastest growing trading area in the world, Lui noted that the ‘golden triangle’ of the region’s three most populous countries – China, India and Indonesia – are all projected to maintain annual economic growth rates of at least 9% for the next 3-4 years.
However, there are some significant changes on the horizon, particularly in China, summed up by slower export growth yet soaring domestic trade. The past assumption that Chinese growth is built solely on an almost unlimited supply of cheap labour is fast disappearing as rapidly rising wage rates in the country’s manufacturing heartland force more and more industry into China’s interior.
Similar patterns can also be seen in India and Indonesia as the growing middle class looks to consume more. This will likely generate significant changes in trade volumes and patterns, with import and domestic logistics growing much faster than export-oriented logistics, requiring responsive logistics strategies to cope with fast changing consumer tastes and demands.
The effect of China’s urbanisation and consumer market growth was also discussed by Juan Manuel Gonzalez, Managing Director, Asia Region for Hapag-Lloyd, who explained how the carrier is remodelling its China sales strategy along the lines of its North American operations, with more field offices in the hinterland and a greater focus on import trades.“TOC Asia provided a good opportunity to exchange views on industry trends and to learn the latest about infrastructure development and terminal capacity long term outlook,” said Gonzalez.
Not least of the challenges for Asian port and terminal infrastructure going forwards will be the coming wave of ultra large container vessels. Speaking alongside Gonzalez, Frank Jensen, CEO of shipping analyst SeaIntel cautioned that the phase-in of mega vessels will impact all trades, including intra-Asia, as carriers and owners seek to cascade vessels. Scale advantages in terms of unit costs and service frequency will also continue to drive a trend towards consolidation in the shipping industry, he added.
The practicalities of accommodating larger container vessels coming on stream over the next few years were addressed by Halfdan Ross, Managing Director, APM Terminals Crane & Engineering Services, part of the APM Terminals group. Ross said that his company is already studying how to cater for 22,000 TEU capacity ships, even before Maersk Line’s first 18,000 TEU Triple-E vessels enter service in 2013. Planning for crane and other infrastructure support to accommodate such vessels and the sheer volumes of containers needed to be loaded and discharged is a necessary exercise for any major hub port, he observed.
Ross examined issues and solutions applicable to quay cranes intended to accommodate the larger vessels entering into service, as well as the design or reinforcement of the quays themselves. Improved engineering, and camera-assisted and remote control of crane operations were some of the solutions presented, though increased power requirements may also pose obstacles, particularly in emerging market areas where power generation or supply can be challenging, he noted.
“Beginning here in Hong Kong this past March, TOC CSC Asia is embarking on a period of strategic growth and development, said Paul Holloway, Event Director TOC Worldwide. “Added to our 15 year heritage of delivering top quality market, technical and operational information for ports and terminals in Asia, we are pleased that major BCOs, carriers and 3PLs have now joined our community,” Continued Holloway: “TOC believes that ports represent one of the most critical links in the container supply chain and also that there are very real benefits to be gained by gathering all the parties together to address the issues, including critical perspectives from those at the very top of the supply chain. This is the start of something truly exciting for this brand moving forwards.”
TOC Container Supply Chain Asia returns to Hong Kong in 2013 from 12-14 March. Once again the event will include a 2-day high-level container supply chain conference, free-to-attend port operations and technology seminars, a major exhibition of port and terminal services, equipment and technology, and industry networking receptions. New for 2013 will be the addition of bulk port operations and technology seminars.
www.tocevents-asia.com
Central Asian News Service ir en.ca-news.orgIMF2012400-320x180 In a new report released in Washington on Tuesday, the International Monetary Fund projected a robust growth in all five countries of Central Asia in 2012 and 2013, but warned that Europe and oil prices could yet be a serious risk factor, reported Silk Road Newsline.
According to the IMF, growth in Kazakhstan is seen at 5.9 percent this year and 6 percent the following year. In Kyrgyzstan, growth is projected at 5 percent in 2012 and 5.5 percent in 2013.
Forecast for Tajikistan is 6 percent and 6 percent, for Turkmenistan is 7 percent and 6.7 percent, and for Uzbekistan is 7 percent and 6.5 percent, respectively.
The IMF’s outlook for the countries of Central Asia and other emerging markets is for continued strong growth.
“The outlook is rather good. We predict, you know, less growth than in the past few years, but still strong growth. They face a tough international environment. That’s really where the problems come from, for the most part,” said IMF Chief Economist Olivier Blanchard.
The IMF warned that risks of a renewed upsurge of the crisis in Europe continue to loom large, along with geopolitical uncertainties affecting the oil market.
“There are always many risks, but there is just one overwhelming one, which is another Euro crisis. You know, some measures were taken. Actually, important measures were taken as a result of the last one. But they’re not quite enough. If you look at the program countries, or if you look at some other countries in Europe, they still have a terrible problem of achieving competitiveness, decreasing the fiscal deficit, having growth,” he said.
Blanchard said the second key risk to the outlook would be rising oil prices.
“What we looked at was a scenario in which there was general uncertainty in the Middle East, so the oil price went up by roughly 50 percent for a long time. That is not good. That, we think, would decrease the level of output over two years for the U.S., for Europe by about 1 percent, more so in Japan, emerging Asia, because they import more oil, so 1.5 percent, roughly,” he said.
Central Asian News Service, en.ca-news.org
Montreal - The International Air Transport Association (IATA) called upon governments to work together and with the aviation industry to maximize aviation’s ability to sustainably drive global economic development and job creation.
“Governments and industry share a common interest in aviation’s success. Aviation is a business and a driver of economic and social development that is vitally important to governments. About 3 billion people fly annually. And the nearly 50 million tonnes of cargo transported by air represents some 35% of the value of goods traded internationally” said Tony Tyler, IATA Director General and CEO while speaking at the International Civil Aviation Organization (ICAO) International Air Transport Symposium.
Aviation is a highly regulated industry at the national, regional and global levels. “Sustainability depends not only on what airlines do for themselves but also the policies adopted by governments,” said Tyler. “Regulation that is neither coordinated nor mutually recognized brings a high cost of compliance without corresponding benefits, while maintaining restrictions on airlines’ access to global capital and to markets has kept airlines financially weak,” said Tyler noting the important role of ICAO in delivering solutions to ensure aviation’s sustainability in the broadest of terms.
Tyler cited four areas where policy efforts are needed to ensure aviation’s financial sustainability:
Infrastructure: Modernization of air traffic management is needed to reduce delays, save fuel and cut CO2 emissions.
User Charges: Effective regulation of monopoly suppliers is required to ensure sufficient infrastructure, reasonable returns for operators and cost-efficient prices for airlines, in line with ICAO-agreed principles.
Fees and Taxes: Policies are needed that re-invest aviation tax receipts back into the industry and to ensure that aviation is treated as an economic catalyst not a cash cow.
Regulation: An approach is needed that resists the urge to micro-manage competition, allows airlines to explore different business models and enables market forces to play out.
Additionally, Tyler noted the need for a globally coordinated approach among governments to managing aviation’s 2% contribution to manmade CO2 emissions. “Aviation has committed to three targets, the most ambitious of which is to cut net emissions in half by 2050 compared to 2005. We cannot do that without government cooperation. As aviation is a global industry, that cooperation must be coordinated through ICAO.
That is why Europe’s inclusion of international aviation in its emissions trading scheme is counter-productive. The regional approach distorts markets. And it will not have the positive impact on sustainability of globally coordinated measures through ICAO. On top of that, the unilateral and extra-territorial approach is seen by non-European states as an attack on their sovereignty,” said Tyler.
“Nobody wants a trade war. And I am confident that if Europe participates whole-heartedly at ICAO—being prepared to find solutions with the international community beyond its current plans—ICAO will successfully facilitate a durable solution for environmental sustainability,” said Tyler.
“Aviation connectivity is the infrastructure of our global community. A key component of sustainability must be a pragmatic and comprehensive policy approach focused on building competitiveness to maximize aviation’s economic and social benefits,” Tyler said.
A recent Oxford Economics study reported that aviation globally is responsible for 56.6 million jobs and $2.2 trillion in economic activity—3.5% of global GDP.
Source IATA
March 23, the new crude terminal at Ust-Luga, part of the Baltic Pipeline System 2, has been launched. SeaNews that Sovcomflot’s “Nevsky Prospect” has loaded some 70,000 tons of crude and the tanker is now heading for Rotterdam. It is expected to arrive March 29 and is likely to unload at the Vopak Europoort terminal.
At the first stage, the terminal capacity will be 30 mn tons annually, stage 2 envisages an expansion to 38 mn tons. Two main issues for the market are the source of this volume and the impact of the new terminal on the existing cargo flows.
Traders expect that the launch of Ust-Luga will lead to a shift of crude traffic from Central European refineries to seabourne trade in North-West Europe. The preliminary export schedule of Transneft envisages increasing crude exports via Baltic ports 23.5% quarter-on-quarter. Ust-Luga in Q2 is scheduled to load 3.6 mn tons of crude. End 2011, Transneft communicated planned export volumes via Ust-Luga for the Baltic Pipeline System 2 of 10 million tons and 20 million tons. Seanews points at three possible sources for these volumes.
Gdansk will be the first to lose seaborne traffic. Naftoport terminal onto tankers loads Russian Urals crude delivered by the Druzhba pipeline. Transneft says that after the launch of the Baltic Pipeline System 2, Gdansk will lose all its Urals transit. According to the company, this volume will make some 5-7 million tons. Some volume will be reoriented from the Ukrainian ports of Odessa and Yuzhny. One more source can be Primorsk, the sea terminal for the Baltic Pipeline System 1. Transneft believes that traffic via Primorsk can be cut by 6-7 million tons. It should also be kept in mind that despite the conflict with Belarus, Transneft promises to maintain the transit volumes by the Druzhba pipeline. This leaves the question of filling the Baltic Pipeline System 2 unanswered for the market.
According to the RF Ministry of Energy forecast, crude production in Russia is to increase just 1% to make some 516 mn tons in 2012.
Source SeaNews
This week TNO approved the action plan of Van der Most Transport B.V. This makes Van der Most Transport B.V. one of the leaders to which the Lean and Green Award is awarded. The Lean and Green Award will be presented to Gertjan van der Most of the Rotterdam-based transport company of the same name on 19 April. In achieving the Lean and Green Award, Van der Most Transport B.V. has proved that it is making an active effort to improve the sustainability of sea container transport by road. Van der Most Transport B.V. wants to reduce its CO2 emissions by more than 20% in five years by taking steps to reduce kilometres driven and improving fuel consumption. The Lean and Green Award is part of the Sustainable Logistics programme from Connekt that stimulates businesses to grow to a higher level of sustainability.
Source Source Port of Rotterdam Authority
The Hamburg Süd shipping company was established in 1871 and from the beginning focused on the South American market, primarily the east coast. In the post-war period, the scheduled services between Europe and the South American east coast were resumed by the 'Santa Ursula' in 1951. This was the beginning of the first series of six 'Santa' vessels. Until now there have been two other series, in which there has always been a 'Teresa'. Looked at together it gives a good idea of the scale increase in shipping that has taken place over the past 60 years.
Vessels
The first 'Santa Teresa' (1953 - 1961)
- 11,710 tonnes dead weight
- 146 metres in length/ 18.7 metres in the beam
- speed: 14 knots
- crew: 54
- Europe - South American east coast scheduled service
The second 'Santa Teresa' (1976 -1982)
- 14,900 tonnes dead weight
- 141 metres in length/ 20.7 metres in the beam
- speed: 15 knots
- crew: 31
- Tramp shipping services
The third 'Santa Teresa' (2012 - )
- 93,430 tonnes dead weight
- 7,109 TEU
- 299.9 metres in length/ 42.8 metres in the beam
- speed: 22.2 knots
- crew: 16
- Europe - South American east coast scheduled service
Development
In this period, vessel size increased eightfold, vessel speed increased by a little more than half, and the trip is now possible with a third of the crew. The increased speed and quicker processing times in the ports mean that a ship can make many more trips per year, so that the effective production increase per year is much more than 800%.
Hamburg Süd is pioneer in the containerisation of the Europe-South American east coast traffic. This started in 1980 with two 750 TEU vessels. Thirty years later there has been a tenfold increase in service capacity and it is expected that the next step for the shipping company, which has been under complete ownership of the Oetker family since 1961, will be to use 9,000 TEU vessels.
Source Port of Rotterdam International
2012-04-19
Last week the Board of Kuwait Petroleum Corporation in Kuwait agreed on the design and specifications of the expansion of the plant and an upgrade of some existing units of the Q8 refinery in Europoort. This is part of the Q8 Europoort Refinery Improvement Project, which involves several hundreds of millions of euros.
Source Port of Rotterdam Authority
2012-04-19
Normalised financial result of EUR 186 million
In 2011, the Port of Rotterdam Authority’s normalised result (net income) was EUR 186 million; that is EUR 18 million (+10%) higher than the result in 2010. Both the income from the letting out of sites and the income from harbour dues increased. The operating expenses rose slightly, mainly driven by a few non-recurring items. Financial director Paul Smits: ‘These figures mean that we can continue with our planned investments in the port. That is very important for the development of the main port in the long term.’
The Port of Rotterdam Authority’s two most important sources of income are the harbour dues paid by ships that visit the port and the income from the letting out of sites. The harbour dues have risen by EUR 17 million (+6%) to EUR 305 million. This increase was partially due to the increase in throughput (+1%), but primarily due to the so-called 2010 crisis discount of 7% being converted into a recovery reduction of 3% in 2011. The income from the letting out of sites rose by EUR 18 million (+7%) to EUR 267 million. The reasons for this were price indexation, the extension of a number of contracts at prices more in line with market rates, and the allocation of new sites in Maasvlakte 2, amongst others. In total the operating income increased by almost 7% to EUR 588 million, EUR 37 million more than in 2010. The operating expenses increased slightly. The income from participating interests amounted to EUR 9 million in 2011, mainly due to the favourable development of the participating interest in the Sohar port (in Oman).
Investments
The trend of the Port of Rotterdam Authority’s financial position is positive. A sound financial position is important if the high investment ambitions of the port of Rotterdam are to be realised. The investment level achieved in 2011 was the highest level achieved in the history of the port; in total, EUR 494 million was invested, of which (rounded off) EUR 379 million was invested in Maasvlakte 2 and EUR 116 million in the existing port area. In 2012, investments will again amount to about EUR 500 million of which about three quarters will be invested in Maasvlakte 2.
A number of non-recurring items are not included in the normalised net income. The most important of these items is a buy-off payment of EUR 17 million for the future salaries of the bridge men and lockkeepers who were transferred from the Port of Rotterdam Authority to the Municipality of Rotterdam on 1 January 2012.
Dividend
In respect of 2011, the Port of Rotterdam Authority will pay out a total dividend of EUR 90 million to its shareholders, the Municipality of Rotterdam (70%) and the State (30%). The State will receive EUR 19 million. The Municipality will receive EUR 46 million as a standard dividend and EUR 25 million as an extra dividend in relation to the release of a provision for the Commerzbank. In 2005, the Port of Rotterdam Authority paid out a lower dividend to the Municipality and formed a provision of EUR 20 million for the guarantees allegedly furnished to this bank. This amount, plus the interest on it, is now being paid out to the Municipality, as it is highly unlikely that the Port of Rotterdam Authority will have to make any payment.
The Port of Rotterdam Authority is moderately positive about the developments in 2012 and anticipates an increase in throughput of between 0 and 1%. Net income is expected to continue developing positively in 2012, due to income increasing slightly while expenses remain constant.
Integrated annual report
Since 2009, the Port of Rotterdam Authority has published an integrated Annual Financial Report and Corporate Social Responsibility Report, as corporate social responsibility is embedded in the organisation. 2011 is the second year in which Ernst & Young Accountants LLP has provided an integrated auditor’s report in respect of the Annual Report. The Report received the predicate A+ from the Global Reporting Initiative, which means its reporting procedures meet the highest possible standards of transparency. Since 2009, the Annual Report has no longer been published in hard copy but only online on the website www.portofrotterdam.com/annualreport.
Source Port of Rotterdam Authority
Yesterday, Easter Monday, 9 April, at 3 p.m. (local time) the Port of Rotterdam Authority, the state of Espirito Santo, the municipality of Presidente Kennedy and project developer Terminal Presidente Kennedy (TPK) signed an agreement in Vitória, Brazil for the development of Porto Central, a new port in Brazil. The so-called ‘greenfield port’ still has to be built and will be located in the extreme south of Espirito Santo state, to the north of São Paulo and Rio de Janeiro. It will be an industrial port on deep sea water for handling oil, gas, offshore services, dry bulk and general cargo.
The intention is that the first ship will sail into the new port in a few years’ time.
2012 and 2013 will be used for approaching the market and obtaining the necessary permits. In the first phase, a start will be made on the construction of a 1,000-hectare industrial port.
Joint venture
For the development of Porto Central, the Port Authority is entering into a cooperation agreement with TPK, a group of Brazilian business people with experience in the mining and offshore industries. The Port Authority’s main contribution will be its expertise and knowledge in the field of port management. This cooperation agreement will be converted into a joint venture once a number of essential conditions (such as permits and initial contracts with clients) have been met. Porto Central will be operated in accordance with the port of Rotterdam’s tried and tested landlord principle. The owner will develop the infrastructure and lease the land to the terminal operators and other port users, who will in turn invest in their own business-specific suprastructure.
Brazil
The Port Authority’s foreign policy is geared towards strategic joint ventures and new international participations, such as that realised in recent years in the port of Sohar, Oman. In 2010, the Port Authority was asked by the Brazilian government to review a comprehensive strategic study into remodelling the Brazilian port sector, which consists of 34 public ports along the 8,000-kilometre Brazilian coast. At the beginning of this year, the Port Authority opened a new office in São Paulo, Brazil. Together with the head office in Rotterdam, it will work intensively on the further development of Porto Central.
Source Port of Rotterdam Authority
The Netherlands emerges as the best place for business in Europe: Bloomberg ranking The Netherlands is the world’s second best place to do business, according to data compiled by Bloomberg. Hong Kong took first place as per the rankings.
Bloomberg Rankings measured 160 markets on a scale of zero to 100 percent based on six factors. These are the costs of setting up business, hiring and moving goods; the degree of economic integration; less tangible costs such as inflation and corruption; and the readiness of the local consumer base, a category that includes the size of the middle class, household consumption and gross domestic product per person.
The Netherlands was ranked second which was due to its economic climate, 5 major ports and its being a gateway to Europe with 14% of road links and 57% of distribution centers in Europe The U.S., the U.K. and Australia occupied the next three leading slots after HK and the Netherlands. India was ranked 49th with Brazil in the 50th position.
Source Indodutchconnect.com
Sophisticated seismic team trainer deployed at Vestfold University
A cutting-edge new system, designed to train engineers and crew in seismic streamer deck handling has been installed at Vestfold University College in Norway. The Seismic Streamer Deck Operation Trainer was developed as part of Kongsberg Maritime’s leading Offshore Vessel Simulator, in co-operation with Petroleum Geo-Services (PGS) following an agreement signed Q4 2010. The system passed its Site Acceptance Test at Vestfold University College in March 2012 and is now fully operational.
A highly advanced training tool in its own right, the Seismic Streamer Deck Operation Trainer also uniquely utilises the KinectTM for Windows motion sensing device. It is equipped on student stations and tracks their movements in order to display them on a highly realistic depiction of the stern streamer deck. This enables students to physically walk around the deck area, completing set tasks according to the specific exercise. They are equipped with a virtual toolbox presented on a touch screen close by and two are also equipped with a winch/block control device, which is a physical device worn around the waist, allowing them to select and control the correct winch/block for the job – exactly as in real life.
The new Seismic Streamer Deck Operation Simulator is based on the PGS seismic vessel, Ramform Viking. It features an accurate hydrodynamic model, 3D hull design and realistic stern streamer deck to ensure that students relate to the simulated vessel environment during training. The detailed hydrodynamic model behaviour is an important aspect for vessel navigators and operators on the streamer deck, as the operation of winches changes according to conditions and vessel motion.
A typical simulation scenario involves three students; one is assigned supervisor, responsible for controlling winches, using a real winch control terminal interfaced to the simulator. The other two students operate auxiliary winches and are equipped with the virtual toolbox, with all equipment needed to complete the operation simulated on screen. For the streamer deck crew it is important to know the different procedures and to learn what type of tools from the toolbox are needed to dismount the streamer equipment.
“Back-deck operations have been increasing in complexity over the years and personnel are getting less exposure to these critical operations, so we decided that simulator training was a natural step to ensure safety and efficiency,” comments Einar Nielsen, Vice President Projects, Marine Acquisition PGS. “This has been an interesting and challenging project for both parties and I would say the techniques employed with the system represent a step change in simulator training for the offshore environment.”
The installation at Vestfold University College consists of two Instructor stations, one navigation bridge, winch and block control terminals, a common info station for all three students and three streamer deck crew operator stations (student stations). Each student station consists of three 65” TFT-LCD screens mounted vertically, which displays their simulated position on the streamer deck and the actions they are carrying out with the virtual toolbox. The centre display units are fitted with touch screens, allowing the student to open and close valves and winch locks, power on/off winches and blocks together with enabling lines on the helper winches in the scene.
“Seismic streamer deck operations simulator training has been made possible as a result of an extensive R&D effort with PGS, which has resulted in an incredibly life-like depiction of working on a streamer deck,” comments Geir Lilje, Product Manager, Kongsberg Maritime. “The project is part of our on-going development of the Kongsberg Offshore Vessel Simulator, which is driven by direct customer requests and demand for new training possibilities to meet the changing needs of the offshore oil & gas industry.”
Source Kongsberg Maritime
BP today announced that it has reached definitive and fully documented agreements with the Plaintiffs' Steering Committee (PSC) to resolve the substantial majority of eligible private economic loss and medical claims stemming from the Deepwater Horizon accident and oil spill. The parties have filed for preliminary court approval of the two settlement agreements, one resolving economic loss and property damage claims and the other resolving medical claims.
BP and the PSC believe that the settlement agreements are a fair, reasonable and adequate resolution of the claims. As part of the motions seeking preliminary approval, the parties have asked the Court to approve proposed plans to notify class members of their rights under the settlement agreements and schedule fairness hearings. Once these hearings have taken place, the Court will decide whether to give final approval to each settlement agreement. BP has also asked the Court to adjourn the MDL 2179 liability trial until after it determines whether to grant final approval of the settlement agreements. The PSC will not oppose this request for adjournment.
''This settlement demonstrates BPā€™s continued progress in resolving significant issues related to the Deepwater Horizon accident,'' said Bob Dudley, BP Group Chief Executive. ''BP made a commitment to help economic and environmental restoration efforts in the Gulf Coast, and this settlement provides the framework for us to continue delivering on that promise, offering those affected full and fair compensation, without waiting for the outcome of a lengthy trial process.''
As previously disclosed, BP estimates that the cost of the settlement will be approximately $7.8 billion, including administration costs and plaintiffs' attorneys' fees and expenses, and is expected to be paid from the $20 billion Trust. The Trust is available to satisfy not only legitimate individual and business claims but also to pay certain other costs related to the accident and oil spill, including state and local government claims, state and local response costs, natural resource damages and related claims, and final judgments and settlements. While BP has sought to reliably estimate the cost of the settlement agreements, it is possible that the actual cost could be higher or lower than this estimate depending on the outcomes of the court-supervised claims processes. In accordance with its normal procedures, BP will reevaluate the assumptions underlying this estimate on a quarterly basis as more information, including the outcomes of the court-supervised claims processes, becomes available.
Prior to the settlement, BP had spent more than $22 billion toward meeting its commitments in the Gulf. BP has paid out more than $8.1 billion to individuals, businesses and government entities. In addition, BP has spent approximately $14 billion on operational response.
The settlement agreements filed today are consistent with the terms of the proposed settlement announced last month and, as disclosed at that time, are not expected to result in any increase in the $37.2 billion charge (which included the $20 billion charge taken in respect of the Trust) previously recorded in BPā€™s financial statements.
The settlement agreements reached between BP and the PSC are the result of lengthy and detailed arm's-length settlement negotiations conducted in good faith over many months. Under the economic loss agreement, there are agreed compensation protocols for the payment of class members' economic losses and property damages. In addition, many economic loss class members will also receive payments based on negotiated risk transfer premiums (RTPs), which are multipliers designed to compensate claimants for potential future losses relating to the accident, along with other potential damages.
As previously announced, BP has agreed not to wait for preliminary or final approval of the economic loss and property damage settlement agreement before paying claims. In fact, the transitional Court-supervised claims facility has paid out more than $168 million in economic loss claims since March 8 and will continue to operate until the Court makes a determination on preliminary approval. If the Court grants preliminary approval, a new claims facility will open within 30 days (unless otherwise ordered by the Court) and will operate under the frameworks established by the economic loss and property damage settlement agreement.
Under the medical settlement agreement, payments will be made based on a matrix for certain specified physical conditions. Although claims will not be paid until final approval of the medical settlement agreement, class members will be permitted to file claim forms in advance of any effective date of the settlement to facilitate prompt administration of the medical settlement should it be approved. The agreement also provides for a 21-year periodic medical consultation program for qualifying class members. Class members claiming later-manifested physical conditions may pursue their claims in the future through a mediation/litigation process, but waive the right to seek punitive damages. Under the agreement, BP has also agreed to provide $105 million to the Gulf Region Health Outreach Program to improve the availability, scope and quality of healthcare in Gulf communities. This healthcare outreach program is intended to benefit both class members and others in those communities.
Under U.S. law, there is an established procedure for determining the fairness, reasonableness and adequacy of class action settlements. In accordance with this procedure, and subject to the Court granting preliminary approval of each settlement agreement, there will be extensive notification to the public, including through direct mail, print and broadcast media, and a website, to explain the settlement agreements, class members' rights, including the right to ''opt out'' of the classes, and the processes for making claims.
After final approval of the settlement, claims of class members who have not excluded themselves from the settlement will be dismissed. The settlement is not an admission of liability by BP.
The timing of both the fairness hearings and future MDL 2179 proceedings will be determined by the Court.
Source BP
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