Page 5: of Maritime Reporter Magazine (July 2005)

July 2006 5

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Shipyards May Raise

Prices 5%

South Korea's seven shipbuilders, which delivered 38 percent of the world's vessels in 2005, said they may raise the prices of new ships by about five percent to take advantage of record orders and protect their profits from rising costs, according to a report from

Bloomberg. The price of a supertanker that can hold 2 million barrels of oil rose 4 percent to about $125 million in

December, the Korea Shipbuilders

Association said, citing Clarkson Plc.

The price of a vessel that can carry 3,500 20-foot containers increased 2.8 percent to $54 million from last year.

Herzigova Godmother for

Costa Concordia

Supermodel

Eva Herzigova will be the god- mother of the

Costa

Concordia, the new flagship of the Costa fleet, which will be christened on

July 7 in the

Port of Rome (Civitavecchia). Costa

Concordia, the largest cruise ship fly- ing the Italian flag (112,000 gt and total guest capacity of 3,780), is set to become another Italian Made symbol: it was built in the historic Italian

Fincantieri shipyards in Sestri Ponente (Genoa).

Ship Launch Foiled by

Hot Weather

Hot weather was the main reason that caused the hang-up of a 10,500 ton ship during its attempted launch at the

Bach Dang Shipbuilding Industry

Company in the northern port city of

Haiphong on June 17. During the launch, the prow of the Sun Island, or

Noma 2, touched the water but the remaining part of the vessel did not make it despite being tugged by anoth- er ship.

According to official explanation from a shipyard's engineer, the paraffin wax for lubrication on the slip-away had been melted due to the high out- door temperature of over 42ºC, leading to increasing friction during the launch and hampering the ship from entering the water. (Source: www.nhandan.com.vn)

BC Ferries Gets $68m for Sinking

BC Ferries received $67.9 million in insurance compensation for the sinking of the Queen of the North earlier this year, www.canada.com reported. The settlement was noted in the company's year-end financial details, in which net earnings increased $14.7 million, or 2.6 per cent, over last year to $49.9 million. The Queen of the North was traveling from Prince Rupert, B.C., to

Port Hardy, B.C., when it rammed at full speed into Gil Island on March 22 and sank 400 m to the ocean's floor. (Source: www.canada.com)

World's Largest

Hovercraft Launched

White Young Green, (WYG) consult- ants to the built, natural and social environment's, specialist structures division based in Southampton were appointed by American company

Hovertrans Incorporated in 2005 to design the largest hovercraft in the world. The Hoverbarge was designed for use in Suriname in North Eastern

South America where it is needed to facilitate oil exploration. The

Hoverbarge is also able to carry 350 tons of exploration equipment at a speed of five knots over a variety of surfaces. The Hoverbarge is basically a large platform measuring 197 x 98 ft. (60 x 30 m) constructed of 21 steel boxes measuring 59 x 9.8 ft. (18 x 3 m).

MMS: Gulf Oil Improving

An improvement has been made over the past month in oil and natural gas output in the Gulf of Mexico, which was interrupted last year when hurri- canes Katrina and Rita damaged pro- duction platforms. Just over 15 percent of the normal daily oil production in the region is still blocked from market by platform shutdowns, compared with 21.6 percent on May 3, according to the Minerals Management Service, which manages federal offshore leases.

Shipping Corporation of

India to buy 35 ships

Government owned Shipping

Corporation of India has said that they are planning to spend around $1.4 bil- lion on acquisition of 35 vessels in 2006/07. The company is now aiming on energy transportation for growth.

They already own around 82 ships but most of them are bulk carriers and tankers. (Source: Techwhack)

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