Friday, 20 August 2010

Ship Unearthed in NYC offers clues Colonial Life

Maritime News
August 20, 2010 10:04
Vous vous êtes abonné avec ces courriels.
Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&

Ship Unearthed in NYC offers clues Colonial Life

(npr) They call it the mystery ship: a wooden vessel that may have sailed the
Hudson River and the East Coast, transporting goods between the
flourishing Colonies. Its remains were found last month in the ruins of
the World Trade Center in New York City. They’ve since been moved to a
science lab in Maryland, where each day brings new discoveries.  Source

Sleep deprived in the wheelhouse?

Maritime News
August 20, 2010 10:04
Vous vous êtes abonné avec ces courriels.
Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&

Sleep deprived in the wheelhouse?

(workboat) Are you getting enough sleep on the job?  A group of
researchers at Northwestern University wants to know. They are studying
the sleep patterns of towing vessel crews and will eventually recommend
ways for mariners to improve their onboard sleeping patterns with the
goal of promoting alertness and safe vessel operation.  Source

Disabled sailor at Skandia Crane 34th Gold Race

Maritime News
August 20, 2010 10:04
Vous vous êtes abonné avec ces courriels.
Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&

Disabled sailor at Skandia Crane 34th Gold Race

(darientimes) Sailors, Rob Crane of Darien, and Rick Doerr of the Noroton Yacht Club,
each competed at the Skandia Sail for Gold Regatta, the final of seven
events in the 2009-2010 International Sailing Federation (ISAF) Sailing
World Cup.  Source

Palfinger cranes for offshore wind turbines

Maritime News
January 1, 1970 00:00
Vous vous êtes abonné avec ces courriels.
Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&

Palfinger cranes for offshore wind turbines

(marinelink) Palfinger systems supplied a total of 24 cranes for alpha ventus,
Germany's first offshore wind farm. A platform and nacelle crane on
each wind turbine make it possible to carry out supply and service work
quickly and straightforwardly on site out at sea. Palfinger systems and
BESCO, its German sales partner in Cuxhaven, have developed a service
handling concept (SHC) for this purpose in cooperation with experts
from the wind power industry.  Source

Palfinger cranes for offshore wind turbines

Maritime News
January 1, 1970 00:00
Vous vous êtes abonné avec ces courriels.
Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&

Palfinger cranes for offshore wind turbines

(marinelink) Palfinger systems supplied a total of 24 cranes for alpha ventus,
Germany's first offshore wind farm. A platform and nacelle crane on
each wind turbine make it possible to carry out supply and service work
quickly and straightforwardly on site out at sea. Palfinger systems and
BESCO, its German sales partner in Cuxhaven, have developed a service
handling concept (SHC) for this purpose in cooperation with experts
from the wind power industry.  Source

Cairn Energy Indian Oil sells stake in Vedanta Resources up to $ 8.4 billion

Maritime News
August 20, 2010 07:30
Vous vous êtes abonné avec ces courriels.
Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&

Cairn Energy Indian Oil sells stake in Vedanta Resources up to $ 8.4 billion

Cairn Energy, the Scottish explorer, has sold most of its stake in prize Indian oil fields to Vedanta Resources for up to $8.4bn (?5.36bn), receiving a much higher premium than smaller investors have been offered for their shares.

In a complex deal, London-listed Vedanta is hoping to buy up to 61pc of
Mumbai-listed Cairn India partly from Cairn Energy and partly from
smaller shareholders for up to $9.7bn.

Cairn Energy, which owns a 62pc stake in Cairn India, will sell between
40pc and 51pc of the company – whose prime assets are oil fields in the
desert region of Rajasthan. It will therefore retain between 11pc and
22pc.

The final proportion will depend on whether smaller shareholders take up
an offer from Vedanta’s partly-listed subsidiary Sesa Goa to buy up to
20pc of the stock on the open market.

However, Vedanta will pay a 22pc premium to Cairn Energy at 405 rupees
per share and just a 12pc premium at 355 rupees per share to other
investors, claiming that the difference is because the Scottish explorer
has agreed not to compete in neighbouring countries.

Several sources close to negotiations confirmed that the arrangement was
constructed to reward the majority shareholder over minority ones.

“It might seem alien to us in London, but it’s very common in India,” one insider said.

Cairn Energy’s share price rose 24.9, or 5pc, to 493.2p on confirmation
of the deal that will see the company concentrate on its exploration in
Greenland.

Shareholders are in line for a windfall worth at least ?2bn, after Cairn
Energy’s chief executive said most of the cash would be returned to
investors.

“It’s the right time to realise some of the value we’ve created,” said Sir Bill Gammell, its chief executive.

“While Cairn Energy has indicated its plans to return a substantial
proportion of the proceeds to shareholders, we do not expect to receive
further clarity on the actual amount until the completion of the
transaction,” said analysts from Cannaccord, recommending a hold.

However, Richard Griffith of Evolution Securities, said: “Cairn Energy’s
decision to sell the majority of its holding in Cairn India to Vedanta
is a smart move. Vedanta appears willing to pay a full value if not
assuming a bullish outlook for oil prices”

Meanwhile, Vedanta’s share price also rose ?1, or 5pc, to ?21.53, having
fallen substantially last week when the deal was rumoured.

For the miner, which is controlled by Indian billionaire Anil Agarwal,
it represents a stark move away from the company’s core metals business.

Mr Agarwal told The Daily Telegraph, that his motivation was creating an
“India-centric” company rather than becoming a big energy player.

Analysts had been sceptical about the mining company’s move into oil and
gas, but investors appear to have been cheered by the terms of the
deal.

“At first glance, it therefore feels to us that this is an opportunistic move,” said Amos Fletcher of JP Morgan Cazenove.

“Investors will be looking for reassurance that this deal will not endanger the company’s impressive organic growth profile.”

Vedanta will fund the deal by taking on $6.5bn of debt – not far off the
mining company’s market value – sharing the burden of overall
liabilities with Sesa Goa.

In contrast to Vedanta’s rise, share in Mumbai-listed Cairn India
dropped 22.6, or 6pc, to 332.85 rupees, and Sesa Goa dropped 31.5, or
9pc to 322.55p, amid sentiment that smaller shareholders in the Indian
marketplace had been squeezed.

Source: Telegraph

Thursday, 19 August 2010

Georgia denies Obama scientists say that most of the oil is gone

Maritime News
August 20, 2010 06:40
Vous vous êtes abonné avec ces courriels.
Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&

Georgia denies Obama scientists say that most of the oil is gone

A team of University of Georgia scientists on Tuesday disputed the Obama administration’s claim, made two weeks ago, that most of the oil spewed from BP’s Deepwater Horizon well is either gone or widely dispersed.

Far from gone or dispersed, the scientists said, 70 to 79 percent of the
more than 4 million barrels of oil that escaped into the Gulf of Mexico
remains in the water, posing real but still undetermined risks.

“The idea that 75 percent of the oil is gone and of no concern for the
environment is just absolutely incorrect,” said Charles Hopkinson, a
director of Georgia Sea Grant and marine science professor at the
University of Georgia, who co-authored the report.

The Georgia report blamed the media for “inaccurate and misleading”
interpretation of a federal analysis released Aug. 2, but its authors,
in a teleconference, declined to address questions about whether an
upbeat spin by the Obama administration had shaped coverage.

The federal report, produced by government and independent scientists,
estimated that the “vast majority” of the 4.9 million barrels of crude
released into the Gulf had evaporated or been burned, skimmed, recovered
by BP from the wellhead, dispersed naturally or by chemicals into drops
likely to be rapidly consumed by microbes. Only 26 percent of
“residual” oil remained largely in the form of sheen or tarballs, the
federal report found – still a volume four times the amount spilled by
the Exxon Valdez.

In announcing the data, Jane Lubchenco, administrator of the National
Oceanic and Atmospheric Administration, cautioned that the vast amount
of oil would cause impacts for years but still struck a glass-half-full
tone echoed by other Obama aides.

“At least 50 percent of the oil that was released is now completely gone
from the system, and most of the remainder is degrading rapidly or is
being removed from the beaches,” she said at a White House conference.

Two calculations explain the bulk of the difference in the Georgia
report, produced by Hopkinson with four colleagues at the University of
Georgia and the Skidaway Institute of Oceanography.

The Georgia report tossed out 800,000-plus barrels BP managed to pipe
directly from the well after it had fitted a sealing cap on the gusher -
17 percent of the well’s estimated flow – arguing that oil had never
actually “spilled” into the Gulf.

More significantly, the report also dramatically reduced the amount of
oil estimated to have evaporated, to 7 to 12 percent from the federal
study’s 25 percent.

The federal government’s evaporation estimate was based on a standard
accepted by industry experts and researchers for light sweet crude in
the warm Gulf. But Hopkinson argued that the percentage is invalid
because much of the oil remains deep beneath the surface, trapped under
dense temperature and salinity layers that would dramatically limit
evaporation.

“My suspicion is that a large fraction of this oil is still in the
system,” said Samantha Joye, a UGA marine scientist who in May was the
first researcher to detect massive deep sea “plumes” of oil droplets
spreading from the well. “Whether it’s floating around or down in the
bottom, we still don’t know.”

Another report released Tuesday by University of South Florida
researchers found evidence of droplets spreading eastward up the
continental shelf and settling into the DeSoto Canyon, a much shallower
area considered a prime spawning spot for fish. The team reported
finding oil at potentially toxic concentrations for some organisms in
sediment taken from 900 feet to as shallow as 215 feet. BP’s well is
5,000 feet deep.

Most analysis and research to date, Georgia’s Joye said, also has
ignored methane, which accounted for as much as one-third of the overall
flow. Methane levels were 10,000 to 100,000 times greater than normal
in some deep sea pockets, she said. At such levels, it could take a year
for the dissolved methane to dissipate, she said.

In an e-mail statement Tuesday, NOAA spokesman Justin Kenney defended
the official analysis as “validated by federal and independent
scientific experts.” By omitting oil recovered directly from the well,
he said, the Georgia researchers had fundamentally changed the baseline
calculation, making it impossible to compare the two estimates.

He also dismissed critics who have contended the White House was eager
to put the environmental disaster in its rearview mirror. NOAA and its
contributing independent scientists, he said, “have been clear that oil
and its remnants left in the water represent a potential threat.”

The agency intended to continue to “rigorously monitor, test and assess short- and long-term ramifications,” he added.

Joye stressed that the Georgia team wasn’t implying that there were
toxic “rivers of oil” submerged in the Gulf. Oil is degrading every day,
she said.

There are, however, still vast volumes of crude oil in the water column,
widely dispersed and breaking down into multiple compounds whose impact
on the environment won’t be understood for years, she said.

Source: McClatchy Newspapers