High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Houston-based international classification society ABS says it has been selected to class a semi-submersible drilling rig and liftboat being built in China.
The contract was awarded by Hong Kong-based company Baoham Offshore. Detail engineering and production design of both units are being carried out by Singapore-based engineering house Gulf Offshore.
“This award is a reflection of the solid reputation ABS has built as a classification society over more than 30 years in China,” says ABS Executive Vice President of Energy Project Development Ken Richardson. “We are particularly excited about working with Baoham Offshore as an emerging Chinese company.”
The liftboat will be built at the PaxOcean yard in Zhoushan, China, while a yard has not yet been selected for the semisubmersible.
Baoham Offshore General Manager Xu Jun expressed high hopes for the fledgling company: “We are not building on speculation,” he says. “On top of our first 300-ft harsh-environment ABS-classed liftboat (GM-J1000) already under construction, the addition of these units extends our ambition of building a flexible fleet.” he says.
The GM-4E mid-water semisubmersible drilling unit will have both an eight-point mooring system and Class 3 dynamic positioning and will feature a variable deck load that exceeds 4,000 metric tons. The GM-J1450 has a water depth capability of 80 m (~260 ft) and will be equipped with a 400-metric-ton deck crane.
ABS says that the liftboat jacking system will be provided with Hydraquip Custom Systems Inc., which has produced more than 100 jacking systems over the past two decades.
“We are pleased to continue our working partnership with Baoham Offshore,” says Global Maritime Engineering Services Manager Mark Cooper, whose company provided the designs for an earlier unit as well as both of the contracted newbuilds. “We are excited to be introducing this flexible design on a groundbreaking project with not only an owner with a strong vision, but a very experienced class society.”
Join the 67,425 members that receive our newsletter.
Have a news tip? Let us know.