Seatrade Med opens in Cannes

The Seatrade Med Cruise Convention has debuted in France, with 2000 participants having streamed through the doors of the Palais des Festivals et des Congrès in Cannes by lunchtime on day one. The event will run over three days and play host to an industry conference, a showcase exhibition, Cruise Agent Day by Top Cruise as well as an exceptional social programme.

The convention was officially inaugurated this morning by a VIP delegation that included Bernard Brochand, Deputy Mayor of Cannes as well as representatives from CCI Nice, Grasse, Villefrance-sur-Mer, the Provence-Alpes-Côte D’Azur region, Seatrade and UBM Live.

Regional industry booming with vast potential still untapped
Delegates packed the conference suite at this morning’s opening session to hear industry leaders upbeat on the rapid expansion of the Mediterranean cruise market. MSC Cruises’ CEO, Pierfrancesco Vago noted that Europe is the fastest growing source market in the world and added that with some 196m people (39% of the population) living in coastal regions and some 180 European ports, the potential is vast.

On a cautionary note, Carnival UK CEO David Dingle warned against real threats to the industry from “ill thought-out” environmental regulation, with sulphur content in fuel being the biggest problem. “You cannot overestimate environmental issues” he added.

French cruise market going from strength to strength
A survey of 30 ports and 20 maritime and river shipping companies on the growth of the cruise industry in France, conducted by the National Tourism Council and previewed today during Cruise Agent Day by Top Cruise, revealed that since 2000 the number of cruise passengers to France has tripled. This year 2m passengers visited France on 1600 cruise calls, figures that pave the way for concrete recommendations to be made to public authorities and tourist industry professionals.

Seatrade’s chairman, Chris Hayman, said, “The Mediterranean is now the second most popular cruise destination, after the Caribbean. We are delighted to bring Seatrade Med to France for the first time, recognising the economic importance of the cruise industry to this country, with its world-renowned cruise shipbuilding and ship technology industry. With 5m Europeans now cruising, France, which boasts the longest coastline in Europe, is in an ideal position to benefit from the economic impact of the growing Mediterranean cruise market.”

He also saluted the outstanding work of the French Riviera Cruise Club, organising partners for Seatrade Med 2010, in raising awareness of the cruise industry among local businesses and other regional economic players.

Exhibition open for business
Shipbuilders STX Europe and cruise market newcomers Daewoo Shipbuilding of Korea, plus technical suppliers such as ADT Fire & Security Italia S.p.A, HMS S.A, Mitel Corporation and Desso B.V. are showcasing their latest innovations on the Seatrade Med floor. This year’s exhibition hosts 153 exhibitors from 42 countries. Added to the mix of regional ports, tourist boards and DMCs is a heavy scattering of global destinations, including Dubai Cruise Terminal, the Caribbean Village, the Port of Halifax (Canada), Cruise Canada New England, Cruise Indian Ocean Association, NYCruise, Puerto Costa Maya and the Ministry of Culture and Tourism Republic of Indonesia. MedCruise, principal supporter of Seatrade Med, is hosting numerous mini press conferences and events on what, at just over 700 sqm, is their largest ever pavilion at the show.

Elsewhere in the show, cruise agents are taking part in Top Cruise’s Cruise Agent Day, with a programme of cruise line workshops and destination conferences as well as time on the exhibition floor and the chance to win a fabulous cruise on MSC Splendida, offered by MSC Cruises, in a prize draw this afternoon.

Principal sponsors of Seatrade Med 2010 are the City of Nice, Conseil Général Alpes-Maritimes, Palais des Festivals et des Congrès, Région Provence Alpes Côte D’Azur and Riviera Ports Authority. Other main sponsors of the event are Antibes Port Vauban, Atout France, Club Croisière Corsica, Fidelio Cruise Software GmbH, Hepburn Bio Care, Marseille Provence Cruise Club, MedCruise, MSC Cruises, STX Europe, Syndicat des Hôteliers de Cannes et Environs, Var Provence Cruise Club (VPCC) and Villefranche sur Mer.
Source: Press Release

S.KOREA'S STX OFFSHORE FORMS PLANT TIE-UP WITH U.S. FIRM

South Korean shipbuilder STX Offshore & Shipbuilding Co. (KSE:067250) said Wednesday that it has signed a deal to team up with KBR Inc., a U.S. engineering and construction company, in the offshore plant sector.
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Source: Trading Markets

Sinopacific applies LTV shipbuilding concept

Many shipbuilding companies are investigating new approaches to reducing fuel consumption, carbon emissions and operating costs, to enhance safety and achieve environmentally neutral operation while maintaining ship speed and increasing load capacity.
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Source: Motorship

LNG demand to outstrip supply-GDF Suez

Global liquefied natural gas demand will double by 2020, driven by increases in Asia, but supply will struggle to keep up over that period, GDF Suez's president of LNG said on Wednesday.
Difficulties in getting new production projects online will lead to a sellers' market in the future, said GDF Suez's Philip Olivier, a change from the buyers' market which currently exists due to ample supply.
[Read more]
Source: Reuters

Ichthys LNG Project Releases Invitations to Tender for Onshore Gas Processing Facilities

Invitations to Tender for the major onshore construction packages for the Ichthys LNG Project (INPEX Browse, Ltd. 76%, Operator, and Total E&P Australia 24%) have commenced, President Director Australia, INPEX CORPORATION, Seiya Ito said today.
[Read more]
Source: Press release

Gas Plus drops Eni deal on rules uncertainty

Italian gas company Gas Plus has not exercised an option to buy Eni offshore assets in Italy due to uncertainty over exploration rules, the company said sending its shares lower.
Gas Plus said in a statement on Wednesday conditions did not exist at the moment for it to exercise an option to buy Societa Adriatica Idrocarburi by a Nov. 30 deadline.
[Read more]
Source: Reuters

Franklin Templeton to start legal action over Romgaz

Fund manager Franklin Templeton said it would take legal action against Romania for forcing energy firm Romgaz to make a donation to the state budget, adding the government had damaged investor confidence. Romgaz, Romania's main gas producer, is one of the holdings of Fondul Proprietatea, a 3.4 billion euro ($4.4 billion) fund created to compensate citizens whose properties were confiscated during communism and which is managed by Templeton.
[Read more]
Source: Reuters

Aker Solutions wins NOK3.4bn subsea system deal for Asgard field

Norway's oil-service group Aker Solutions ASA said today it won a NOK3.4bn contract to supply the subsea gas compression system for the Asgard field in the Norwegian Sea.
The contract was awarded by Norwegian oil giant Statoil ASA.
The deal is conditional on a positive investment decision due to be taken in the first quarter of 2011, Statoil said in a separate statement.
Deliveries will be carried out by the end of 2014.
Aker Solutions pointed that the system provides improved energy efficiency and safety, and lower costs compared to using a traditional platform.
"Asgard may be the first installation worldwide to employ seabed processing involving gas compression and this represents an important technological leap in the development of fields in deep and demanding waters," Statoil said.
The project will be managed out of Aker Solutions' head office in Oslo, while the equipment will mainly be manufactured at its facilities in Egersund and Tranby, both in Norway, and in Aberdeen, UK.
Aker Solutions has entered the deal via its subsidiary Aker Subsea AS.
Source: Press release

Tap Oil Announces Zola-1 Commences

Tap Oil Limited is pleased to advise that the Stena Clyde semi-submersible drilling rig commenced drilling the Zola-1 well at this morning.
The Zola prospect is a very large Triassic tilted fault block on trend with the giant Gorgon gas field.  One of the largest undrilled structural features in the Carnarvon Basin, Zola is covered by high quality newly reprocessed 3D seismic data and is considered a moderate risk prospect.  Zola is estimated by Tap to contain mean recoverable gas volumes of 1.0 trillion cubic feet with upside potential for 2.0 trillion cubic feet.  The well will test the gas potential of several top and intra Mungaroo Formation sands – the primary reservoir at Gorgon.  In addition it is possible that some Jurassic reservoirs may be developed flanking the main Triassic structure.  The primary Mungaroo Formation target will be intersected at approximately 4,300 metres below sea level.  Water depth at the well location is approximately 280 metres.
Zola-1 is planned to take approximately 40-50 days to reach to a final total depth of around 5,000 metres. Weekly updates will be provided during drilling operations.
Tap’s Managing Director and CEO, Troy Hayden, said he was pleased to have commenced the Zola-1 well which has the potential to deliver a resource several times larger than Tap’s current 2P reserves.
Source: Press release

Acergy, partner bag USD240m pipeline deal in Brazil

Oslo-listed oil service company Acergy SA and Brazilian Odebrecht Oil & Gas have won a USD240m contract from federal oil giant Petrobras to carry out works on the Sul-Norte Capixaba pipeline project offshore Brazil.
Acergy's share of the contract is nearly USD190m, the company said in a statement today.
The contract involves engineering, project management, procurement and fabrication services.
Acergy's work also includes the installation of a 150 km gas pipeline linking the Camarupim field gas pipeline to the Parque das Baleias complex.
Engineering will start immediately with offshore installation scheduled to commence in late 2011, using the vessels Acergy Polaris and Acergy Harrier.
The Sul-Norte Capixaba project is located in water depths of between 30 m and 100 m.
Source: Press release