CMHI raises $700m from bonds

China Merchants Holdings (International) (CMHI) has raised USD700 million by selling bonds to support the development of its port business.
CMHI issued USD700 million fixed-coupon guaranteed notes, consisting of two tranches including a 5-year tranche of USD200 million and a 10-year tranche of

A Look Inside Arendal Spirit

By MarEx 2015-08-03 18:57:02

The delivery of Arendal Spirit this year marks the addition of a new segment to Teekay Offshore’s offshore logistics portfolio and the world’s first Unit for Maintenance and Safety (UMS) based on Sevan Marine’s innovative cylindrical hull design.

After the successful completion of acceptance tests in June, Arendal Spirit became home for many offshore workers. The DP3 unit is currently in Brazil at Campos Basin on a three-year contract with Petrobras.

Arendal Spirit provides a stable platform with high uptime and excellent stability and motion characteristics. The vessel contains 500 beds in 248 cabins with en-suite bathrooms, daylight windows, television, internet and telephone connections. Additionally, the unit counts with lounge areas, coffee shop, television and game room, fitness room, dining room, office areas, meeting/conference room and cinema.

Arendal Spirit

Service speed: 7 knots

Hull diameter: 60m (196 feet)

Available deck: >2,000m2

Main tank capacity: 3,500m3

Accommodation: 500 people

3 Cranes: 100 t & 55 m range

Variable deck load: ~4,500t

Office conditions: 16 offices


Maritime Dispute Heats Up with China

By MarEx 2015-08-03 17:25:01

The Japanese government has released 14 photos of Chinese offshore platforms in the South China Sea. The move highlights Japan’s concerns about what it sees as China’s aggressiveness in the region.

The photos pinpoint 16 offshore construction projects located in disputed maritime territories near the median line between the Chinese and Japanese shorelines. The new structures are on China’s side of the line, but Japan’s primary concern is that these platforms could serve as auxiliary military bases near its littoral nations.

The Chinese assert that the majority these new facilities will be used for drilling, processing and storing natural gases, but Japan says the structures can easily be fashioned with air defense radar systems and heliports.

The Chinese have secured several territories in the East and South China Seas despite sovereignty claims by Vietnam, the Philippines, Brunei, Malaysia and Taiwan.

China is also conducting coral reef restoration projects in disputed areas. Beijing says its residents are facing danger from land subsidence due to rising sea levels and are investing heavily in radar stations, underwater surveillance, tsunami warning and satellite operations systems in the East and South China Seas.

China has also announced the creation of a new South China Sea fishing fleet for its military militia, another move that could intensify regional disputes.

Many of the countries challenging China’s new structures are U.S. allies. The U.S. government has staged patrols and military drills in disputed areas recently in response to growing concerns that China is unilaterally claiming these maritime territories. Meanwhile, Beijing has been vocal about U.S. military presence in the areas and accuses the U.S. of militarizing the region.

China also claims that the U.S. is distorting facts in order to create discord between China and its neighbors in the South China Sea.