Where tenants are ditiching dead money for a mortgage “Cosgrove Estate has been getting a lot of attention recently and one of its drawcards is the slightly elevated land,” Ms Montgomerie said. “The estate has a lot of first time home builders and also people venturing into the property market for the first time. “This new display home is aimed at the first home buyers’ market — it’s price point driven and geared towards those who have that to consider.”The display home at 1 Peak Circuit in Cosgrove, will be open next Friday 16 August through to August 20. Flood victims finally return home Buyers could secure a property like this one at 1 Peak Circuit, Cosgrove Estate.A NEW display home at Cosgrove Estate, has been designed with first home buyers in mind. The house had been built by GJ Gardner Homes featuring four large bedrooms and two separate living areas appealing to growing families and entry level buyers.Director at GJ Gardner Homes Townsville Natasha Whiteside said the home had been carefully designed with a specific buyer in mind. READ MORE Iconic Rollingstone Ranch snapped up READ MORE More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“It has been built well and truly for first home buyers and its layout is perfect for people who are beginning a family,” Ms Whiteside said. “It has good cluster of bedrooms towards the back end of the house, so there is good accessibility to the children’s rooms and we have designed it to be Hampton’s style as that is very much on trend right now.“It’s got a great entry price point and we offer low deposit options for first home buyers.” Marketing manager at Parkside Group Fiona Montgomerie said the display home revealed to first homeowners what they could build at Cosgrove Estate.
SEE WHAT ELSE IS FOR SALE IN NEW FARM Brisbane on track for strong property growth. How much is your home worth? “We’ve got to manage 1.5m for social distancing so take care of that. I know a number of you are on the road, so if you’re a registered bidder, please watch out for cars, if you’re not a registered bidder — well we couldn’t really care what happens to you.” Selling agent Nicholas Given walks down the middle of Abbott St as people arrive for the auction. Photo: Debra BelaThere was a chuckle through the crowd and with agent Nicholas Given taking on the role of traffic controller, 19 registered bidders began an epic 65-bid battle for the pre-war home in one of New Farm’s most private streets. Mr Gavin speaks with the winning bidders, Linda and Darren (surname withheld), prior to the auction. Photo: Debra BelaA New Farm couple standing on the street behind the complimentary coffee van, started the bidding at $600,000.“We’ve just finished renovating a Queenslander in New Farm, we love homes like this,” the couple said afterwards. There’s lots of potential here. Photo: supplied The front of the house has a character overlay protecting it but the back of 60 Abbott St, New Farm can be changed, much like the house next door. Photo: suppliedAcross the street, Mr Low was livestreaming the event for his Sydney-based siblings who were unable to attend the sale of their parents’ home due to the Queensland border closure. Morris Low teaches history at the University of Queensland. This used to be his bedroom growing up at 60 Abbott St, New Farm. Pics: Debra BelaMore from news02:37International architect Desmond Brooks selling luxury beach villa7 hours agoParks and wildlife the new lust-haves post coronavirus9 hours agoWithin two minutes the property had reached $1 million.“It’s got good Feng Shui this house,” Mr Low said afterwards. “I think it’s my mum. She passed away last year. It’s got her energy.” Ray White New Farm Principal Matt Lancashire (centre) working with bidders during the auction of 60 Abbott St, New Farm. Photo: Debra BelaThe property was announced on the market at $1.352 million by which stage it was clear all the action was coming from bidders on the street, with Mr Cush receiving offers via a slight nod or a shout as both Mr Given and Ray White New Farm Principal Matt Lancashire dashed between bidders. People arriving for the auction of 60 Abbott St, New Farm. Photos: Debra BelaTRAFFIC was directed through a crowd of more than 100 people who had spilt onto a quiet New Farm street on Saturday to see a deceased estate sell for $1,465,500. The house at 60 Abbott St, New Farm. Photo: suppliedOne couple decided to register in the middle of the road as the auction passed $1.2 million with 19 bidders competing for the pre-war home that had been in Morris Low’s family for more than 30 years. An outdoor laundry and toilet are part of the original charm of this circa-1920s house on 455sq m. Photo: Debra BelaThe large crowd and buyer interest was a repeat of last weekend with agents seeing it as an early sign that the market is hungry for a return to the strong pre-COVID conditions which had Brisbane well placed to see an upturn in capital growth this year.RELATED 100-strong crowd forces impromptu bus stop auction MISSED OUT ON THIS ONE? More than half of the 29 properties that went to auction across Brisbane on Saturday were sold through Ray White agencies, with an average of 8.9 bidders per auction and a 75 per cent clearance rate.The national average was 4.9 registered bidders per auction which is almost three people more than this time last year.But with COVID-19 restrictions still limiting onsite auction numbers to 20 people until July 10, the increased activity is a complication for agents. Ray White New Farm principal and auctioneer, Haesley Cush. Photo: Debra Bela “We’ll do the formalities first,” Ray White auctioneer Haesley Cush shouted from the front of 60 Abbott St, New Farm. Among the other bidders on the road was a woman who owns property in Sydney but is currently renting in New Farm and looking for a home for her young family.In front of her was a woman from Brisbane’s southside who was looking to develop and resell the house.Within the final two breaths of the auction, six bids were received and it was the New Farm family who had just finished renovating a nearby house, who came out in front. The winning bidders Darren and Linda (surname withheld) will restore the original pre-war home at 60 Abbott St, New Farm. Photo: Debra BelaIn other auction results, 22 Collingwood St, Paddington sold for $1.15 million which was well above reserve, with 10 registered bidders never taking the bid increase below $50,000.Place West principal Andrew Degn had the bidders and their families in the front yard, with spectators invited to social distance on the footpath. FOLLOW US ON FACEBOOK
Sevan Marine, a Norwegian provider of cylinder platform design, narrowed its net loss during the first quarter of 2017 despite decrease in revenues. The company on Tuesday posted a net loss of NOK 14.4 million for the first quarter 2017 compared to NOK 96.6 million in the prior-year quarter.Operating revenues for the first quarter of this year declined to NOK 12.1 million, compared to NOK 42.9 million in the corresponding period of 2016. Sequentially, the company’s revenues also declined from NOK 18.3 million due to reduction in study activity in the quarter.The company has a net cash position of NOK 152.3 million and an equity ratio of 66 percent.Looking ahead, the company said it continues to operate in a challenging market where many of its key prospects have been delayed over the past years. Even though there has been an improvement in market sentiment, Sevan said that this year will remain challenging with estimated negative profits and cash flow.Sevan Marine further said it remains optimistic that additional study work can be won in 2017 and 2018 for FPSO, FLNG and HiLoad FRD applications. With prospective licenses from both the Western Isles project and UK Continental Shelf project, late 2017 and 2018 should show improved results, the company added.Offshore Energy Today Staff
Oil and gas inspection services company Halfwave has been awarded a contract by Inpex for work on the Ichthys LNG Project offshore Australia.Halfwave said that the long-term contract awarded by Inpex Australia was for base line subsea launch in-line inspection.The scope of work includes a custom built 42″ acoustic resonance technology (ART) scan by Halfwave to inspect the subsea pipeline that requires a low flow subsea launch with high-speed inspection of the Ichthys 890 kilometer natural gas transmission pipeline.The ART scan measures wall thickness by analysis of the resonant signal that is emitted from the target, which allows for a direct and accurate measurement of the target thickness.ART is also used as the inspection technology on the ARTEMIS tool which is an ROV-mountable inspection tool developed by Halfwave for external inspection of subsea assets including rigid and flexible pipelines, flowlines, and risers.The Ichthys LNG Project is located in the Ichthys Field within the northern Browse Basin about 220 kilometers north-west of Western Australia’s Kimberley coast, at the western edge of the Timor Sea.During operations, the Ichthys LNG Project is expected to produce up to 8.9 million tonnes of LNG and up to 1.6 million tonnes of LPG per annum and 100,000 barrels of condensate per day at peak, requiring an 890-kilometer pipeline to facilitate export.Halfwave CEO, Paul Cooper, said: “Halfwave is very pleased with the award by Inpex and to be a part of the ground breaking Ichthys LNG Project.“Halfwave ART capabilities are demonstrating that they are adding value by de-risking challenging inspections and providing market leading inspection performance.”It is worth noting that both of project’s offshore facilities, the FPSO Ichthys Venturer and the CPF Ichthys Explorer, have already been moored at the field.
Want to pick the brain of Leon Overdulve, CEO, OOS International or Adrian Cretoiu, Managing Director Western Europe, Schlumberger? Now is your chance as they will be offering their guidance and views during the Master Classes.The Master Classes bring together masters and young talents in the offshore oil, gas and energy industry for an informal exchange of ideas and experiences, both technical and non-technical. The Master Classes are meant for final year students, starters and young professionals (<6 years work experience, <35 years old, min. Bachelor degree.).Master Class, 10 October 201715:00 – 17:00Leon Overdulve, CEO, OOS InternationalMaster Class, 11 October 201715:00 – 17:00Adrian Cretoiu, Managing Director Western Europe, SchlumbergerRegistrationApplicants will be selected based on earlier mentioned criteria: final year students, starters and young professionals (<6 years work experience, <35 years old, min. Bachelor degree). To find register head to registration.offshore-energy.biz where you will find out more.OEEC is one of Europe’s leading offshore energy events. It is unique in bringing together the oil & gas, offshore wind and marine energy industry. With the industry in transition, OEEC offers offshore energy professionals the ideal meeting place to network, discuss and learn about the future of energy. OEEC 2017 will be held at Amsterdam RAI on October 9, 10, 11, 2017.
Philippine-based International Container Terminal Services, Inc. (ICTSI) has signed two 25-year agreements to operate the international ports in Motukea and Lae in Papua New Guinea (PNG).ICTSI said that the terminal operating agreements were signed by ICTSI’s PNG subsidiaries, Motukea International Terminal Limited (MITL) and South Pacific International Container Terminal Limited (SPICTL), with the PNG state-owned enterprise, PNG Ports Corporation Limited (PNGPCL).The contract scope covers the operation, management, and development of the two ports.As agreed, MITL shall provide and deploy cranes, berth and yard equipment for the Port of Motukea. Newly developed and situated near Port Moresby, the Port of Motukea is envisioned to service all port and shipping activities previously done at Port Moresby.On the other hand, SPICTL shall provide and deploy cranes, berth and yard equipment at the Port of Lae. The port is the largest container handling facility in PNG.Just last week, ICTSI went on to buy a 34.83% stake in the Manila North Harbour Port Incorporated (MNHPI) for USD 34.5 million.The port operator said the purchase would allow ICTSI to “contribute its experience, expertise and state-of the-art technology and infrastructure” to enhance the operational efficiency of the domestic terminal in the Port of Manila and improve the traffic condition in Metro Manila.
Engineering and technical services provider for energy market Wood has informed that four employees working within its clean business became committee members on the UK working group that provides input into the IEC marine energy committee.Joining the British Standards Institution (BSI) which informs the International Electrotechnical Commission (IEC) are Andy MacGillivray and Robert Clayton who will sit on the PEL/114 Marine energy – Wave, tidal and other water current converters committee.The group, which provides the UK input into the IEC/TC114, is responsible for the development of Standards in the field of Marine Energy – Wave and Tidal Energy Converters.Robert Clayton and Roisín Fahey will assist with the development of the IEC/TC 114/AHG 7 ‘Assessment of information received on IEC TS 62600-201 – Marine energy – Wave, tidal and other water current converters – Part 201: Tidal energy resource assessment and characterization’ technical specification.In addition to this, Katie Gracie-Orr will sit on the IEC Technical Committee 114, Ad-hoc group 4: ‘Assessment of information received on IEC TS 62600-200, Power performance assessment of electricity producing tidal energy converters.’This group assesses information received on IEC TS 62600-200, the technical specification defining an industry-standard methodology and reporting format for the power performance assessment of tidal energy devices.As part of their role as committee members, Andy, Robert, Roisín and Katie will be responsible for reviewing documents submitted to the committees, circulating new proposals and drafts for comment, as well as attending meetings with fellow committee members, according to Wood.Bob MacDonald, CEO of Wood’s Specialist Technical Solutions business, said: “We’re delighted that Andy, Robert, Roisín and Katie have been invited onto this committee to represent Wood. Not only is this a huge privilege but also a fantastic opportunity to help shape the future of wave and tidal energy standard development.”Tom Digby-Rogers, lead program manager for BSI and committee secretary for PEL/114, said: “Standards of good practice are drafted by an industry’s expert community. Their ability to support an industry grow and generate commercial opportunity is reliant on the strength of these standards, which is reliant on engagement from those who use them. It is extremely heartening and welcome to see this level of commitment to standardization from Wood.”The BSI is the UK National Standards Body responsible for overseeing the national standards making process and for nominating representatives from the UK on a number of European and International committees and working groups. Illustration (Photo: Wood)
MAN Energy Solutions has received an order to provide the propulsion systems for two containership newbuildings under construction for Honolulu-based shipping company Pasha Hawaii.The 2,525-TEU vessels, which will join the shipping company’s Hawaii trade lane, will be constructed at the Keppel AmFELS yard in Brownsville, Texas.MAN informed that each system on order will comprise a 7S80ME-GI Mk 9.5 main engine, 3 × MAN 6L35/44DF GenSets and an MAN Alpha FPP propeller system.“This is yet another order within the container segment and cements the ME-GI concept,” Bjarne Foldager, Vice President, Sales & Promotion, Two-Stroke Business at MAN Energy Solutions, said.Doosan Engine will build the main engines in Korea, which will meet Tier III emission standards by use of an Exhaust Gas Recirculation system.Similarly, MAN Energy Solutions Augsburg works will build the auxiliary engines which will meet Tier III with the aid of a Selective Catalytic Reduction system.Engine delivery is scheduled for 2019 with the two vessels, respectively, due for launch in the first and third quarter of 2020.The new vessels will operate fully on LNG from day one in service, reducing environmental impact and increasing fuel efficiency. Energy savings will also be achieved with a state-of-the-art engine, an optimised hull form, and an underwater propulsion system with a high-efficiency rudder and propeller, The company explained.
The first onshore electrical cables destined for the Triton Knoll offshore wind farm have rolled out from production and are heading towards the Port of Boston, the UK.Source: Triton Knoll Offshore Wind Farm LtdThe High Voltage Alternating Current (HVAC) cables will make up the onshore cable network, connecting power from the 860MW offshore wind farm to the new onshore substation at Bicker Fen.According to Triton Knoll, this milestone marks the delivery of the first major elements of the project’s onshore electrical system and will be ready for installation along the cable route in the summer.The cables are being delivered to the port on 28 cable drums, typically 4.5m x 3.5m in size, with the majority expected to arrive on 24 March.The drums will then be transported on heavy goods vehicles, via the A16 to a secure storage compound near to the project’s cable route, Triton Knoll said.Each cable drum weighs between 17 to 26t and contains between 1,023m to 1,690m of HVAC cable. In total there are 306 cable drums required for the entire onshore cable route, which adds up to more than 360km of cable.The Triton Knoll offshore wind farm, being developed by Innogy Renewables UK Ltd, in partnership with J-Power and Kansai Electric Power, will comprise 90 MHI Vestas 9.5MW turbines scheduled to be operational in 2021.
Norwegian LNG transportation provider Awilco said the charter deal for its WilForce liquefied natural gas carrier has been canceled by the charterer. The company noted that the cancellation comes following a collision off Singapore that left the vessel’s hull damaged.Awilco informed that WilForce is currently at a yard in Singapore where repairs are progressing as planned and are expected to be completed by end-August, early September.Awilco said in a statement, that at the time of being struck by the other vessel, the WilForce was employed on a 9-12 month time charter contract which commenced in September 2018.The charterer notified Awilco LNG of its decision to cancel the remaining period of the time charter contract due to the prolonged off-hire period required to repair the vessel.Awilco said this is a right the charterer has in accordance with the charter party terms.To reiterate, based on a preliminary assessment of facts Awilco LNG holds the other vessel fully and completely liable for the collision, and the company expects to recover all costs and expenses, including insurance deductibles, off-hire and lost time charter hire in due course.The WilForce is expected to be available for new chartering opportunities ahead of the seasonally stronger Northern Hemisphere winter period. The company sees the chartering market tightening in the fourth quarter of 2019 on the back of newbuilding deliveries tapering off in the second half of 2019 coupled with most of the new LNG production capacity scheduled for start up in 2019 being commissioned in the second half of the year and of course increased demand ahead of winter. This view is already supported by the current soft rates in the prompt compared to higher rates obtainable for contracts starting in the fourth quarter.