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	<title>Think Maritime &#187; Oil and Gas</title>
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		<title>German Nod Sets Nord Stream Build Date</title>
		<link>http://www.thinkmaritime.com/2010/01/01/german-nod-sets-nord-stream-build-date/</link>
		<comments>http://www.thinkmaritime.com/2010/01/01/german-nod-sets-nord-stream-build-date/#comments</comments>
		<pubDate>Fri, 01 Jan 2010 12:01:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Maritime]]></category>
		<category><![CDATA[Oil and Gas]]></category>

		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=1196</guid>
		<description><![CDATA[Construction of the Nord Steam natural gas pipeline is on schedule following an approval by German environmental officials, directors said.
The German Federal Maritime and Hydrological Agency on Monday granted a permit for a 19-mile section of the pipeline. Germany on Dec. 22 granted its first Nord Stream permit for a 31-mile offshore leg.
That leaves Finland [...]]]></description>
			<content:encoded><![CDATA[<p>Construction of the Nord Steam natural gas pipeline is on schedule following an approval by German environmental officials, directors said.</p>
<p>The German Federal Maritime and Hydrological Agency on Monday granted a permit for a 19-mile section of the pipeline. Germany on Dec. 22 granted its first Nord Stream permit for a 31-mile offshore leg.<span id="more-1196"></span></p>
<p>That leaves Finland the only nation that has not granted approval for the natural gas pipeline. Matthias Warnig, the managing director of the Nord Stream pipeline consortium, said the project was still on schedule, Germany&#8217;s Deutsche Welle news agency reports.</p>
<p>&#8220;We are firmly on schedule to start construction of the pipeline in spring 2010 and to start transporting gas in 2011,&#8221; the director said.</p>
<p>Denmark, Sweden and Russia already backed the project formally.</p>
<p>The Monday permit is the final step for Germany to move forward with the $10.8 billion pipeline project.</p>
<p>Nord Stream will stretch 745 miles through the Gulf of Finland and the Baltic Sea to Germany. The project, along with South Stream, is part of an effort by Russia to diversify its European transit options away from Ukraine.</p>
<p>Europe gets about 25 percent of its gas from Russia, though 80 percent of that volume travels through Soviet-era pipelines in Ukraine.</p>
<p>Kiev, along with Warsaw, said they were concerned Nord Stream would strip transit revenue away from their government coffers.</p>
<p>Russian gas giant Gazprom leads the Nord Stream consortium along with Germany&#8217;s E.ON Ruhrgas and BASF-Wintershall.</p>
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		<title>Oil Prices Gained 59,85% in 2009 Shooting Up Shipping Costs</title>
		<link>http://www.thinkmaritime.com/2009/12/14/oil-prices-gained-5985-in-2009-shooting-up-shipping-costs/</link>
		<comments>http://www.thinkmaritime.com/2009/12/14/oil-prices-gained-5985-in-2009-shooting-up-shipping-costs/#comments</comments>
		<pubDate>Mon, 14 Dec 2009 20:21:10 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Maritime]]></category>
		<category><![CDATA[Oil and Gas]]></category>
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		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=1161</guid>
		<description><![CDATA[Last Friday, for the first time since last October, oil prices closed below $70 per barrel at $69,87 per barrel after declined for the eighth day in a row. Although the nine-month rally in oil prices appeared to falter as a gradual sell-off that began in late October gained momentum, for the shipping sector, energy [...]]]></description>
			<content:encoded><![CDATA[<p>Last Friday, for the first time since last October, oil prices closed below $70 per barrel at $69,87 per barrel after declined for the eighth day in a row. Although the nine-month rally in oil prices appeared to falter as a gradual sell-off that began in late October gained momentum, for the shipping sector, energy costs remain in high levels, thus lifting shipping operating costs. Since last January, during the worst economic recession of last decades, oil prices have gained 59.85%. OPEC members are satisfied with the current price and they don’t schedule to change their daily volume of exports in the forthcoming meeting in Angola on December 22.<span id="more-1161"></span><br />
On the other hand, ship owners have every reason to worry about the prospects of oil prices, as according to all estimates they will rise during 2010, as demand is predicted to strength. The International Energy Agency predicted Friday that global oil demand will rise more than previously anticipated next year.<br />
The increase in oil prices has shot up the bunker or fuel cost of ships that, in turn, has added to the operating costs of shipping lines that are finding it tough to pare costs.<br />
The rise in crude oil price over the year is hurting regional and global shipping lines where it hurts the most, said shipping industry executives and analysts.<br />
Hovering around $75-76 a barrel currently, the crude oil price has more than doubled from its lowest level (after the global financial crisis) in December last year when it fell to about $30 a barrel.<br />
&#8220;In the current condition, increase in petrol cost and low movement will make the shipping industry more vulnerable. Normally, shipping companies hedge their requirements based on the market analysis. So, on a short run they are protected. But if it continues beyond stage they are forced to come up with Bunker Adjustment Factor ,&#8221; said Shankar Subramoniam, General Manager for UAE at Clarion Shipping.<br />
Bunker adjustment factor, also called bunker surcharge, is the extra charge levied on the shippers to counterweigh oil price fluctuations.<br />
However, shipping analysts believe increasing bunker surcharge is not sufficient to meet the total costs of ship movement.<br />
&#8220;The cost of bunker rates has gone up significantly because of the rise in oil price this year. Although shipping lines charge bunker surcharge from their clients, but that is not sufficient to meet their operating cost,&#8221; said Joel Rodricks, Director Sales and Marketing at Maersk Kanoo (UAE), Dubai.<br />
Global container shipping lines are expected to lose about $20 billion (Dh73.46bn) in 2009 because of low freight rates and downturn in various businesses, he added.<br />
In order to cut costs, the normal measures shipping line are adopting is to identify key routes and assess the need for certain port call. If they find the volume is less they make it as a feeder port or withdraw the port of call, said Subramoniam.<br />
According to analysts estimates economic recovery is for the moment slow and fragile and the recent rally in stock markets does not feet the basic economical fundamental. In contrast, oil demand is a more accurate “index” as it anticipates the true condition of economy. As they note &#8220;How do you know when the economic recovery really begins? It is when real oil demand growth appears. Not just artificial demand growth being propped up with smoke and mirrors, but demand growth that comes with solid economic activity and global growth.&#8221;</p>
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		<title>Hellas controlling 18% of world tanker fleet and 17% of the tanker orderbook</title>
		<link>http://www.thinkmaritime.com/2009/12/08/hellas-controlling-18-of-world-tanker-fleet-and-17-of-the-tanker-orderbook/</link>
		<comments>http://www.thinkmaritime.com/2009/12/08/hellas-controlling-18-of-world-tanker-fleet-and-17-of-the-tanker-orderbook/#comments</comments>
		<pubDate>Tue, 08 Dec 2009 20:34:44 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Maritime]]></category>
		<category><![CDATA[Oil and Gas]]></category>
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		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=1153</guid>
		<description><![CDATA[Hellenic tanker owners have reiterated their leading position in terms of their share of the total tanker fleet, controlling 18% of the current world fleet and 17% of the outstanding tanker orderbook, said a report by Gibsons. “Hellas’ domination is understated when you consider listings on both the New York and London stock markets which [...]]]></description>
			<content:encoded><![CDATA[<p>Hellenic tanker owners have reiterated their leading position in terms of their share of the total tanker fleet, controlling 18% of the current world fleet and 17% of the outstanding tanker orderbook, said a report by Gibsons. “Hellas’ domination is understated when you consider listings on both the New York and London stock markets which would be hidden as US and UK companies respectively. To put this in greater perspective, 46% of the UK domicile fleet is controlled by “London” Greeks” said the London-based shipbroker.<span id="more-1153"></span><br />
Overall, 50% of the tanker fleet is controlled by just six nations in deadweight terms. China may not be in these nations, but according to Gibson this is about to change. the reason is that Chinese owners hold the second place of the current tanker orderbook, with newbuilding orders surpassing the actual existing fleet. This means that by 2012, China will earn a top five spot in tanker ownership. The research note also said that Japanese and Norwegians still feature strongly, however they remain some distance from the Greek’s pole position. In terms of tanker tonnage, the US claims 4th place despite having a very small registered fleet under the national flag. This indicates the dominance of the US in the financial sector. German domicile owners still control 5% of the existing fleet but are under increasing pressure as the KG system comes to terms with the recession. As a result of many companies going public in recent years, the stock market has also played a major part in the change of the ownership structure, with 31% of the fleet now controlled by listed companies.<br />
Meanwhile, with the tanker market on a rebound mode, it is worth providing some useful insight from Nikolas Tsakos, CEO of NY-listed Tsakos Energy Navigation. In recent quotes by Bloomberg, he said that the market is of course far away from the hundreds of thousands of dollars a day experienced just 24 months ago, but at least rates are easily covering their operating expenses and also allow profitability to be maintained. According to Mr. Tsakos this means that the sector has weathered the storm, with the worst now behind.<br />
In terms of the crude market, he mentioned that there is a strong recovery, as a result of delays caused by new torments in the Mediterranean and bad weather in the Bosphorus Strait. These factors have brought rates back up from something like $10,000 in September to about $35,000 today. As for products, there is better move in trading to the East, but rising inventories, mainly of distillates and gasoline are translated to less and less demand  from the Western Europe market, as well as the markets of North America and the Far East.<br />
In its latest research report, Charles R. Weber said that a swift recovery in oil demand in the United States – which continues to consume approximately four times as much oil as China, the world’s second largest consumer – would contribute heavily to a recovery in oil demand in short term, particularly given the high level of global oil inventories. “Much has been noted about the ability of China and India to support the tanker markets going forward, and this is indeed not to be discounted; however, given the disparity between demand in those countries and that in the United States, coupled with a growing world tanker fleet, the continued importance of US markets is certainly not to be discounted either” concluded CRWeber.</p>
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		<title>Oil below $76 as OPEC ministers flag steady output</title>
		<link>http://www.thinkmaritime.com/2009/12/07/oil-below-76-as-opec-ministers-flag-steady-output/</link>
		<comments>http://www.thinkmaritime.com/2009/12/07/oil-below-76-as-opec-ministers-flag-steady-output/#comments</comments>
		<pubDate>Mon, 07 Dec 2009 21:46:09 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Maritime]]></category>
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		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=1151</guid>
		<description><![CDATA[Oil prices hovered below $76 a barrel on Monday in Asia after several OPEC ministers said they don’t expect their group to change production levels at a meeting later this month. Benchmark crude for January delivery was up 11 cents to $75.58 at late afternoon Singapore time in electronic trading on the New York Mercantile [...]]]></description>
			<content:encoded><![CDATA[<p>Oil prices hovered below $76 a barrel on Monday in Asia after several OPEC ministers said they don’t expect their group to change production levels at a meeting later this month. Benchmark crude for January delivery was up 11 cents to $75.58 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost 99 cents to settle at $75.47 on Friday.<span id="more-1151"></span><br />
Top oil officials from Libya, Kuwait, Algeria and Qatar said Saturday that the Organization of the Petroleum Exporting Countries, which supplies about 35 percent of the world’s crude, will likely leave output levels unchanged at the group’s next policy meeting on Dec. 22.<br />
Saudi Arabia’s oil minister, Ali Naimi, said Saturday that oil prices, which have bounced around the high $70s for about two months, were “perfect.”<br />
Oil traders are also eyeing the U.S. dollar as some investors buy crude as a hedge against inflation and a weaker U.S. currency.<br />
On Friday, crude fell to a seven-week low after the Labor Department said the unemployment rate fell to 10 percent in November from 10.2 percent a month earlier, sparking a rally in the dollar.<br />
The euro rose to $1.4864 in Asian trading Monday from $1.4851 on Friday while the dollar fell to 89.80 yen from 90.25.<br />
In other Nymex trading in January contracts, heating oil rose 0.97 cent to $2.04 and gasoline was steady at $1.98. Natural gas jumped 11.5 cents to $4.70 per 1,000 cubic feet.<br />
In London, Brent crude for January delivery rose 28 cents to $77.80 on the ICE Futures exchange.</p>
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		<title>The Process For Deep-Water Oil Drilling</title>
		<link>http://www.thinkmaritime.com/2009/08/30/the-process-for-deep-water-oil-drilling/</link>
		<comments>http://www.thinkmaritime.com/2009/08/30/the-process-for-deep-water-oil-drilling/#comments</comments>
		<pubDate>Sun, 30 Aug 2009 15:50:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Offshore]]></category>
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		<category><![CDATA[crude]]></category>
		<category><![CDATA[deepwater]]></category>
		<category><![CDATA[drilling]]></category>
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		<category><![CDATA[gas prices]]></category>
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		<title>Maersk&#8217;s global exploration spend at $303 million</title>
		<link>http://www.thinkmaritime.com/2009/08/22/maersks-global-exploration-spend-at-303-million/</link>
		<comments>http://www.thinkmaritime.com/2009/08/22/maersks-global-exploration-spend-at-303-million/#comments</comments>
		<pubDate>Sat, 22 Aug 2009 18:08:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Offshore]]></category>
		<category><![CDATA[Oil and Gas]]></category>
		<category><![CDATA[drilling]]></category>
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		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=1017</guid>
		<description><![CDATA[Maersk&#8217;s global exploration costs in the first half of this year reached US $303 m but all that drilling totalling 12 wells brought finds in Angola, Denmark, and the UK and the US.
Oil and gas discoveries were made in deepwater offshore Angola with the Chissonga prospect, in the UK North Sea with the Hobby and [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.thinkmaritime.com/wp-content/uploads/2009/08/maerskguardian2_m.jpg"><img class="alignleft size-medium wp-image-1019" title="maerskguardian2_m" src="http://www.thinkmaritime.com/wp-content/uploads/2009/08/maerskguardian2_m.jpg" alt="" width="140" height="85" /></a>Maersk&#8217;s global exploration costs in the first half of this year reached US $303 m but all that drilling totalling 12 wells brought finds in Angola, Denmark, and the UK and the US.</p>
<p>Oil and gas discoveries were made in deepwater offshore Angola with the Chissonga prospect, in the UK North Sea with the Hobby and Pink wells, and in the US with the Buckskin discovery. Other wells were also drilled in Kazakhstan, Oman.<span id="more-1017"></span></p>
<p>More drilling is underway too: “At the end of the first half year of 2009, exploratory drilling[s] were underway in Angola, the USA and Great Britain,” the Danish-based group said.</p>
<p>Total exploration costs for the first half of 2009 were US $303 m, compared with $302 m in the first half last year.</p>
<p>In Denmark Maersk has said development work on the Halfdan field is 50% complete with the installation of a new process platform. Production from Denmark in the first half this year was 17 m bbl, 4% down on the same period last year. “Gas production was approximately 30% lower than in the same period of 2008, mainly due to lower customer take,” the group said in its half-year income statement.</p>
<p>Group oil and gas production in the first half was 81 m bbl, down 8% from 2008 (source: www.offshore.247.com)</p>
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		<title>Global Subsea Expenditure To Exceed $80 Billion</title>
		<link>http://www.thinkmaritime.com/2009/02/16/global-subsea-expenditure-to-exceed-80-billion/</link>
		<comments>http://www.thinkmaritime.com/2009/02/16/global-subsea-expenditure-to-exceed-80-billion/#comments</comments>
		<pubDate>Mon, 16 Feb 2009 19:44:52 +0000</pubDate>
		<dc:creator>Dirk</dc:creator>
				<category><![CDATA[Offshore]]></category>
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		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=936</guid>
		<description><![CDATA[Infield Energy Analysts forecast that over the period 2009 through to 2013, the total global subsea sector expenditure will exceed $80 billion. This is for subsea equipment and drilling and completion. This is up from $46 billion on the previous five years. Approximately 3,222 trees are expected to be started up within the next five [...]]]></description>
			<content:encoded><![CDATA[<p>Infield Energy Analysts forecast that over the period 2009 through to 2013, the total global subsea sector expenditure will exceed $80 billion. This is for subsea equipment and drilling and completion. This is up from $46 billion on the previous five years. Approximately 3,222 trees are expected to be started up within the next five years, the biggest players being Petrobras (374), Shell (244), Total (237), Chevron (236), BP (229), ExxonMobil (215) and StatoilHydro (194).</p>
<p>The new Global Perspective Subsea Market Update is being launched at Subsea 09 in Aberdeen on Feb.11-12 and at PennWell&#8217;s Subsea Tieback Forum &amp; Exhibition in San Antonio March 3-5 (source: www.offshore-mag.com).</p>
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		<title>An Ocean Of Opportunities</title>
		<link>http://www.thinkmaritime.com/2009/01/31/an-ocean-of-opportunities/</link>
		<comments>http://www.thinkmaritime.com/2009/01/31/an-ocean-of-opportunities/#comments</comments>
		<pubDate>Sat, 31 Jan 2009 20:58:23 +0000</pubDate>
		<dc:creator>Dirk</dc:creator>
				<category><![CDATA[Jobs]]></category>
		<category><![CDATA[Maritime Universities]]></category>
		<category><![CDATA[Oil and Gas]]></category>
		<category><![CDATA[Abu Dhabi National Oil Company]]></category>
		<category><![CDATA[Adnoc]]></category>
		<category><![CDATA[BP]]></category>
		<category><![CDATA[British Petroleum]]></category>
		<category><![CDATA[brokerage]]></category>
		<category><![CDATA[Capt al Hayyas]]></category>
		<category><![CDATA[Capt Jaafar bin Sidin]]></category>
		<category><![CDATA[chartering]]></category>
		<category><![CDATA[Chief engineers]]></category>
		<category><![CDATA[coastguard]]></category>
		<category><![CDATA[dhow]]></category>
		<category><![CDATA[Drydocks]]></category>
		<category><![CDATA[Dubai Maritime City]]></category>
		<category><![CDATA[Emirates International Maritime Academy]]></category>
		<category><![CDATA[logistics]]></category>
		<category><![CDATA[marine training institutions]]></category>
		<category><![CDATA[maritime academy]]></category>
		<category><![CDATA[maritime career]]></category>
		<category><![CDATA[naval architecture]]></category>
		<category><![CDATA[oil tankers]]></category>
		<category><![CDATA[Seafaring]]></category>
		<category><![CDATA[ship management]]></category>
		<category><![CDATA[ship safety]]></category>
		<category><![CDATA[ships]]></category>
		<category><![CDATA[Tyneside]]></category>

		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=802</guid>
		<description><![CDATA[His grandfather sailed a dhow between Musandam and Abu Dhabi, his father was a coastguard sergeant at Ras al Khaimah and his younger brother is a seaman: there is no doubt Capt Abdulla al Hayyas has seafaring in his blood.
Now he is to take the helm as manager of the new Emirates International Maritime Academy [...]]]></description>
			<content:encoded><![CDATA[<p>His grandfather sailed a dhow between Musandam and Abu Dhabi, his father was a coastguard sergeant at Ras al Khaimah and his younger brother is a seaman: there is no doubt Capt Abdulla al Hayyas has seafaring in his blood.</p>
<p>Now he is to take the helm as manager of the new Emirates International Maritime Academy and his aim is to reconnect his country with its nautical heritage.<span id="more-802"></span></p>
<p>As an Emirati sailor, Capt al Hayyas ranks as something of a rarity these days, with few of his fellow countrymen looking to the high seas for a career.<br />
He hopes the impending launch of the maritime academy will help change this.</p>
<p>“The UAE is a coastal state. Seafaring is nothing new to the country, but now people go to oil and gas and the police. We want to bring them back.”</p>
<p>He admits that much of the romance has been lost from seafaring over the decades. In today’s hi-tech world of quick turnarounds, time ashore is virtually non-existent.</p>
<p>“Things have changed,” says Capt al Hayyas, who during his 13 years at sea has served on a series of oil tankers for Abu Dhabi National Oil Company (Adnoc) and British Petroleum.<br />
“Before, ships spent a long time in port and the sailors enjoyed themselves. Discharging the cargo took time. Now you only spend hours in port and you stay on board. You don’t get the chance to leave the ship and most ports are in industrial areas.”</p>
<p>Instead, the internet and satellite TV are now usually available on board, wages are generous and shipping companies give long periods off work to compensate for time way from home.<br />
“Before it was six months at sea, now it’s two to three months and then you get two months off,” he says. And employment conditions are likely to improve because there is a worldwide dearth of maritime officers. Capt al Hayyas believes the shortage will total 30,000 over the next decade.</p>
<p>The maritime academy will be part of the Dubai Maritime City Campus, which Capt al Hayyas will also manage, and which will include branch campuses of up to half a dozen overseas marine training institutions.<br />
The campus will be within Dubai Maritime City, an ambitious industrial, office, residential and marina development on reclaimed land that is described as the world’s first purpose-built maritime centre.</p>
<p>The scheme, partly completed, is sandwiched between Dubai Drydocks, where huge tankers undergo maintenance, and Port Rashid, a stop-off for cruise ships and now home of the Queen Elizabeth 2, due to be converted into a hotel and based at the Palm Jumeirah.<br />
According to Capt Jaafar bin Sidin, the director of both the academy and campus, the benefits of becoming a seafarer extend beyond a maritime career. Many sailors eventually decide to return to shore and find they are much in demand.</p>
<p>“A ship is like a floating city – what a city needs, you need on board ship. Chief engineers, you find them in hotels. You can get captains in many different industries – some ex-seafarers become airline pilots,” says the 55-year-old Singaporean.<br />
The opportunities for Emiratis and other GCC citizens are great, according Capt bin Sidin.</p>
<p>“The industry is expanding, so in terms of a career it’s something they should be going into now if they want to be holding the key positions in future,” says Capt bin Sidin.</p>
<p>While European and Singaporean ships now employ women, in the Middle East seagoing careers remain the preserve of men, says Capt bin Sidin. But on shore there are just as many opportunities for women.<br />
“A shipping executive can be female, if you’re doing marine insurance you can be female.”</p>
<p>There are a wealth of maritime-related careers on land, in areas such as chartering, brokerage and logistics – jobs most people would not necessarily connect with the sea.</p>
<p>“The moment you mention maritime people think ships, but that’s only one side,” says Capt bin Sidin. “And now it’s up for grabs. There is scope for young people to make a good career from this.”<br />
Among the courses to be offered at the campus will be ones leading to certificates of competency essential for professional licences required in seagoing careers. In addition, there will be non-seafaring academic courses, such as degrees in ship management and naval architecture. There will also be short courses in subjects such as ship safety that an on-board masseuse or singer may need to take. Finally, the campus is expected to offer training in recreational maritime activities such as jet ski operations.<br />
Although several overseas institutions are likely to be based at DMCC, officials insist these will be strictly regulated to prevent duplication of courses.</p>
<p>“A lot of people are approaching us. We could fill the campus easily, but we’re looking at our partners carefully. We will only bring the best of the best,” Capt al Hayyas says.</p>
<p>Having such a specialised centre will reduce the need for shipping companies to send people overseas for training.<br />
“If you want to renew a certificate, at the moment you have to travel to Singapore or Australia or Europe. We’re solving this problem.”</p>
<p>The maritime academy is ultimately funded by the Dubai Government.</p>
<p>“There is a commitment from the Government,” says Capt al Hayyas. “They have given us a piece of land in one of the most expensive developments.”</p>
<p>Courses are likely to start in July at the Port Rashid passenger terminal, which is being converted into a temporary college. The maritime academy is scheduled for completion by late 2011. By the time it reaches full capacity in 2016 it will have about 1,000 students.<br />
Capt al Hayyas was trained under Adnoc sponsorship and at 18 he was sent as a student to Tyneside on England’s north-east coast.</p>
<p>“As soon as I arrived in Britain I spent a week in a sailing boat going to Swansea, Ireland, and the Isle of Man. It was my first time at sea. They were testing me,” he says (source: www.thenational.ae).</p>
<p><strong>www.MaritimeJobSearch.com | </strong><strong>Shipping, Transportation, and Engineering Jobs </strong></p>
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		<title>Daewoo Shipbuilding &amp; Marine Engineering Co. Awards PAZFLOR FPSO Towage And Mooring Contract To Fairmount Marine</title>
		<link>http://www.thinkmaritime.com/2009/01/30/daewoo-shipbuilding-marine-engineering-co-awards-pazflor-fpso-towage-and-mooring-contract-to-fairmount-marine/</link>
		<comments>http://www.thinkmaritime.com/2009/01/30/daewoo-shipbuilding-marine-engineering-co-awards-pazflor-fpso-towage-and-mooring-contract-to-fairmount-marine/#comments</comments>
		<pubDate>Fri, 30 Jan 2009 08:01:21 +0000</pubDate>
		<dc:creator>Dirk</dc:creator>
				<category><![CDATA[Energy]]></category>
		<category><![CDATA[Offshore]]></category>
		<category><![CDATA[Oil and Gas]]></category>
		<category><![CDATA[Albert de Heer]]></category>
		<category><![CDATA[BP]]></category>
		<category><![CDATA[Daewoo Shipbuilding & Marine Engineering Co.]]></category>
		<category><![CDATA[DALIA]]></category>
		<category><![CDATA[DALIA FPSO]]></category>
		<category><![CDATA[DSME]]></category>
		<category><![CDATA[Fairmount Marine]]></category>
		<category><![CDATA[Ger Leepel]]></category>
		<category><![CDATA[heavy oil]]></category>
		<category><![CDATA[Leo Leusink]]></category>
		<category><![CDATA[Mooring]]></category>
		<category><![CDATA[oil & gas]]></category>
		<category><![CDATA[Paul Mulder]]></category>
		<category><![CDATA[PAZFLOR FPSO]]></category>
		<category><![CDATA[Statoil Hydro]]></category>
		<category><![CDATA[subsea wells]]></category>
		<category><![CDATA[Total E&P]]></category>
		<category><![CDATA[Towage]]></category>
		<category><![CDATA[UNITY]]></category>
		<category><![CDATA[www.fairmount.nl]]></category>

		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=785</guid>
		<description><![CDATA[The Pazflor Project is located in deepwater, offshore Angola, approximately 40 kilometres east of the DALIA FPSO and 150 kilometres from shore. The project is owned by Total E&#38;P Angola (40%), Esso (20%), BP (16.67%) and Statoil Hydro (23.33%).The project will target development of hydrocarbons in two independent reservoir structures: Miocene reservoirs in 600m to [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.thinkmaritime.com/wp-content/uploads/2009/01/fairmount1.gif"><img class="alignleft size-medium wp-image-787" title="fairmount1" src="http://www.thinkmaritime.com/wp-content/uploads/2009/01/fairmount1.gif" alt="" width="1" height="1" /></a><a href="http://www.thinkmaritime.com/wp-content/uploads/2009/01/fairmount.png"><img class="alignleft size-medium wp-image-788" title="fairmount" src="http://www.thinkmaritime.com/wp-content/uploads/2009/01/fairmount.png" alt="" width="150" height="113" /></a>The Pazflor Project is located in deepwater, offshore Angola, approximately 40 kilometres east of the DALIA FPSO and 150 kilometres from shore. The project is owned by Total E&amp;P Angola (40%), Esso (20%), BP (16.67%) and Statoil Hydro (23.33%).<span id="more-785"></span><a href="http://www.thinkmaritime.com/wp-content/uploads/2009/01/fairmount.gif"><img class="alignleft size-medium wp-image-786" title="fairmount" src="http://www.thinkmaritime.com/wp-content/uploads/2009/01/fairmount.gif" alt="" width="1" height="1" /></a>The project will target development of hydrocarbons in two independent reservoir structures: Miocene reservoirs in 600m to 900m water depth, containing heavy oil to be recovered using subsea gas/liquid separation and liquid boosting and Oligocene reservoirs, in 1000 to 1200 m water depth, containing light oil to be developed with a production loop including riser bottom gas lift.</p>
<p>The overall development consists currently of 49 subsea wells connected via subsea production, injection lines and risers to a spread moored FPSO. This FPSO will have a processing capacity of 200,000 barrels of oil per day and can store two million barrels, bringing the installed production capacity on block 17 to over 700,000 barrels per day.</p>
<p>The FPSO is currently under construction at Daewoo Shipbuilding &amp; Marine Engineering Co.Ltd (DSME) in Korea and will have a length of 325 metres, a beam of 61 metres.</p>
<p>DSME awarded the contract to tow the PAZFLOR FPSO from Korea to Angola to Fairmount Marine as well as the contract for providing mooring services upon arrival of the FPSO in the field. The project will be executed towards the end of 2010.</p>
<p>Albert de Heer, Managing Director of Fairmount, and leader of the project team with Operations Director Leo Leusink, Commercial Manager Paul Mulder and Project Manager Ger Leepel commented “We are honoured to be awarded with this very important towage contract by DMSE, after DALIA and UNITY the third recent major FPSO operation in which Total is involved. Fairmount is committed to provide the offshore oil &amp; gas industry with a first class towage service deploying our new fleet of 200 tonnes bollard pull tugs; we are delighted that this commitment and investment is rewarded by the industry with prestigious orders such as PAZFLOR.. More than ever our focus is on delivering top quality complying with the highest standards for Health, Safety and Environment Protection” (source: www.fairmount.nl).</p>
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		<title>Petrobras To Invest $ 174.4 Billion Through 2013</title>
		<link>http://www.thinkmaritime.com/2009/01/28/petrobras-to-invest-1744-billion-through-2013/</link>
		<comments>http://www.thinkmaritime.com/2009/01/28/petrobras-to-invest-1744-billion-through-2013/#comments</comments>
		<pubDate>Thu, 29 Jan 2009 03:26:02 +0000</pubDate>
		<dc:creator>Dirk</dc:creator>
				<category><![CDATA[Oil and Gas]]></category>
		<category><![CDATA[biofuels]]></category>
		<category><![CDATA[Downstream]]></category>
		<category><![CDATA[Energy]]></category>
		<category><![CDATA[Exploration and Production]]></category>
		<category><![CDATA[gas]]></category>
		<category><![CDATA[Gas and Energy]]></category>
		<category><![CDATA[integrated energy]]></category>
		<category><![CDATA[oil]]></category>
		<category><![CDATA[Petrobras]]></category>

		<guid isPermaLink="false">http://www.thinkmaritime.com/?p=781</guid>
		<description><![CDATA[The businessplan envisages total investments of US$ 174.4 billion in 2013. This represents an annual average of US$ 34.9 billion, 90% of which (US$ 157.3 billion) in Brazil and 10% (US$ 16.8 billion) abroad and 55% more than the previous Plan.
Petrobras, a Brazilian international energy company, announces that its Board of Directors has approved the [...]]]></description>
			<content:encoded><![CDATA[<p>The businessplan envisages total investments of US$ 174.4 billion in 2013. This represents an annual average of US$ 34.9 billion, 90% of which (US$ 157.3 billion) in Brazil and 10% (US$ 16.8 billion) abroad and 55% more than the previous Plan.</p>
<p>Petrobras, a Brazilian international energy company, announces that its Board of Directors has approved the Business Plan for 2009-2013 period.<span id="more-781"></span></p>
<p>This Business Plan is based on the fundamental strategies of the Strategic Plan 2020. The Plan has been revised and up-dated to take into account the changes in the international macroeconomic scenario and its impacts on oil and oil products market. The Plan did not incorporate potential cost reductions as a consequence of the drop in the international oil price although the Company recognizes that the decline in oil should create the opportunity for cost reductions and will make its best efforts to lower the cost of its investments.</p>
<p>Maintaining its commitment to sustainable development, the Company intends to continue expanding its activities in target markets for oil, oil products, petrochemicals, gas and energy, biofuels and distribution, being a benchmark to the integrated oil industry.</p>
<p>The Company’s Vision to become one of the five largest integrated energy companies in the world has been maintained, based on the pillars of profitability, social and environmental responsibility, and integrated growth.</p>
<p>Targets for the international business also reflect the Company’s integrated growth and the production of oil and gas is projected to reach 341 thousand boed in 2013. The projected combined output of oil and gas in Brazil and overseas for 2013 is 3,651 thousand boed.</p>
<p>In comparison with the Business Plan 2008-12, the most significant increase was in Exploration and Production, with a growth of 71% in investments equivalent to US$ 92 billion, or 53% of the US$ 174.4 billion for the 2009-13 period. The Downstream segment, with a 27% share of the investment planned, has also seen investments increased to US$ 46.9 billion, or a 46% rise in relation to the preceding plan.</p>
<p>It also should be highlighted the 139% increase of investments in Gas and Energy, albeit representing only 6% of the total. In the International segment, investments are to continue to be concentrated in Exploration and Production with a focus on Latin America, West Africa and the Gulf of Mexico. A total of US$ 2.4 billion will be invested in the biofuels segment through the new Petrobras Biocombustível subsidiary.</p>
<p>The addition to total projected capital costs is composed of: US$ 47.9 billion for new projects, US$ 17 billion due to increase in costs and US$ 2.9 billion due to changes in foreign exchange rate assumptions. The remaining amount is due to other factors such as changes in projects scope, engineering design, etc (source: www.maritimeandenergy.com).</p>
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