Measuring 310m long by 51 m wide, the vessel will be able carry twice as much cargo as similar ships built to date, and capable of navigating in 1.7m thick ice at a speed of 6 knots.  The vessel will be up to two times faster and operate with 5% increased fuel efficiency.

The ship will be equipped with a dual propulsion system with two ring type propellers to increase mobility, an ice-strengthened hull, and special shape to expedite ice-clearing.

Demand for ice-breaking commercial ships is expected to increase as Arctic sea ice continues to retreat, opening vital shipping routes and easing exploration of natural gas, oil and iron ore in the area.

Hyundai Heavy said it has also been developing a special welding technology for polar LNG carrier tanks and LNG FPSO since June 2010. This is part of HHI’s long term strategy for the expected increase in demand for LNG carriers and LNG FPSOs to be used in the arctic regions as interest in natural gas development in that area has been growing.

Photo: A Model Ship of Ice-breaking 190,000 DWT Iron Ore Carrier via HHI

BIMCO expects a depressed freight market over the coming months, and as “summer has been slow, so freight rates are likely to bottom out now [with] only a little upside is visible for owners. As the global economy is still walking in the shadows of the financial crisis, demand growth remains on a short leash,” BIMCO’s Sand said.

On the supply side, BIMCO predicts that another 450 new build dry bulk vessels with an average size of 84,000 DWT (dead weight tons) will enter the fleet during the remaining part of the year, another factor keeping a lid on freight rates.

The active fleet has grown by 7.4% so far in 2011, caused by delivery of 52.5 million DWT.

The Capesize Time Charter Average is likely to stay around $12,000-16,000 per day while Panamax and Supramax rates are likely to remain in the $13,000-17,000 per day during the second-half on 2011, BIMCO forecasts.

-By Neena Rai, Dow Jones Newswires

(Image Source: blogimg.goo.ne.jp)

This week’s Interesting Ship of The Week was actually recently named Ship of The Year for 2007 by The Japan Society of Naval Architects and Ocean Engineers.  Her name is Brasil Maru, a 320,000 DWT iron ore carrier operated by Mitsui O.S.K. Lines, Ltd. (MOL).  The selection committee noted that the Brasil Maru is a pioneering vessel in reducing iron ore transport cost which will have a great effect on steel production.  A June 18, 2008 press release from MOL reads:

Brasil Maru Vessel Characteristics

First of all, the Brasil Maru reflects the needs of the times, offering high efficiency thanks to its large size. With deadweight tonnage of 320,000 tons which is one of the world’s largest, it is the optimal size to transport iron ore produced in Brazil. MOL, with its customer (Nippon Steel Corporation), shipyard (Mitsui Engineering & Shipbuilding Co., Ltd.), and shipowner (Tamou Line S.A.) spent a year and a half studying and designing the vessel. It was built in Japan, where such large-scale iron ore carriers had never been constructed, and is ideally suited to meet increasing demand for transport of iron ore from Brazil to Japan via shuttle service.

Starting with the Brasil Maru, more than 50 iron ore carriers in the 300,000 dwt class have been ordered around the world. The Brasil Maru is truly the forerunner of future iron ore transport.

The vessel’s design relied on the most advanced computer simulation to optimize environmental protection and safe operation. It offers high-performance course stability that takes water flow into account, and excellent maneuverability. In addition, UIT, a revolutionary method of treating steel surfaces, was used to more than double resistance to metal fatigue in the welded parts.

At the same time, its environmental burden per unit load is reduced by making the vessel larger (reducing CO2 emissions by 20% compared to currently used Cape size bulkers). The Brasil Maru also adopts double-hull fuel tanks, an engine that meets International Marine Organization (IMO) exhaust emission standards, and the energy saving Mitsui Integrated Propeller Boss (MIPB).

The Brasil Maru is the third generation ship to bear the name, succeeding the first-generation cargo and passenger liner Brasil Maru (built in 1939) and the second-generation cargo and passenger liner Brazil Maru (built in 1954). This reflects MOL’s long history serving the Japan-South America route. The new third-generation ship carries the “Brasil Maru” name in Portuguese as an iron ore carrier directly linking Japan and Brazil, reflecting hopes for the continued growth of friendship between the two nations.

Links:

Press Release: Brasil Maru Named ‘Ship of the Year’ for 2007

Mitsui O.S.K. Lines, Ltd.

The Japan Society of Naval Architects and Ocean Engineers