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Honeywell’s UOP Technology Selected to Clean Offshore Natural Gas in the United Kingdom

Gas treating technology includes first membrane-based system on a Floating Production, Storage and Offloading (FPSO) vessel in the North Sea

JAKARTA, Aug. 22, 2014 /PRNewswire/ -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that it has been selected by BW Offshore to remove contaminants from natural gas aboard a new Floating Production, Storage and Offloading (FPSO) vessel off the coast of Scotland.

The vessel, which will be leased to Premier Oil, will include a UOP SeparexTM Membrane System to remove carbon dioxide. While the technology has been successfully used elsewhere, this will be the first FPSO in the North Sea to use a membrane-based treatment system. UOP guard bed adsorbents will also be used to remove mercury and hydrogen sulfide. These contaminants must be removed to meet export and end-user specifications, and to protect downstream equipment.

Vast quantities of recoverable natural gas lie under the Earth's oceans. Accessing, treating and recovering these natural resources can be challenging due to ocean movement, environmental regulations, and space and resource constraints on offshore production facilities. 

"UOP is continually innovating to create lightweight, compact, chemical-free equipment that is ideal for complex offshore gas environment," said Rebecca Liebert, senior vice president and general manager of Honeywell's UOP Gas Processing and Hydrogen business unit. "By integrating UOP Separex membrane technology and guard bed adsorbents into a single system, we are able to create a solution that improves gas processing efficiency while reducing operating costs for FPSO operators."

Scheduled for start-up in 2017, BW Offshore's FPSO will be located approximately 125 miles east of Aberdeen, Scotland, in the Catcher oil field, in which Premier Oil has a 50 percent operating interest. It will have a processing capacity of 60,000 barrels per day of oil and a storage capacity of 650,000 barrels.

UOP Separex technology upgrades natural gas streams by removing carbon dioxide and water vapor. These contaminants must be removed to meet the quality standards specified by pipeline transmission and distribution companies as well as natural gas end users. Decades of operation in natural gas service have demonstrated that Separex membranes are the most robust for natural gas service and can achieve the longest membrane life in the industry. They eliminate the need for solvents, which could spill and damage the marine ecosystem. To date, more than 130 of UOP's membrane systems have been installed worldwide.

UOP guard bed adsorbents allow the removal of trace amounts of sulfur or mercury. These high-loading metal oxide adsorbents provide reliable protection for downstream equipment and consistently meet pipeline gas specifications, with no moving parts and no operator intervention.

Honeywell offers a broad range of technologies for natural gas production, processing and transportation. Its UOP Gas Processing and Hydrogen business has supplied technology to more than 3,600 individual process units for gas processing in a broad range of applications throughout the world. The business offers technology, equipment and materials to treat and process natural gas, and to purify hydrogen used in refineries. Its gas technologies extract contaminants such as water, mercury, sulfur and carbon dioxide from raw natural gas. UOP also offers technologies to recover natural gas liquids (NGLs). UOP gas processing solutions are offered as efficient pre-engineered equipment packages or licensed technology.

Honeywell Process Solutions provides advanced automation, monitoring, safety and security systems for the entire gas supply chain to help operators increase plant reliability and efficiency, while reducing costs and risk.

BW Offshore is a leading global provider of floating production services to the oil and gas industry. BW Offshore is the world's second largest contractor of its kind with a fleet of 14 FPSOs and one Floating Storage and Offloading unit represented in all major oil regions worldwide.

Premier Oil plc is a leading independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan and the Falkland Islands, as well as exploration interests in Brazil, Iraq and Kenya.

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Global Timed Online Auction for Late Model Mining and Construction Equipment 18 – 20 August, 2014 Hosted by GA Global Partners

LOS ANGELES, Aug. 5, 2014 /PRNewswire/ -- GA Global Partners, the auction division of Great American Group, Inc. (OTCBB: GAMR), will host a timed online auction beginning 18 August, 2014 for surplus mining and construction equipment from PT Asmin Koalindo Tuhup & PT Borneo Mining Services.

Bidding for the timed online auction will open at 10 a.m. WIB (UTC + 7) on 18 August and will close at 10 a.m. WIB (UTC + 7) on 20 August. Inspections will be offered 12 - 13 August by appointment only at equipment location in Muara Tuhup, Indonesia.

For a complete list of equipment and more details, visit http://gaauction.com or contact us directly via email at support@gaglobl.com or call Peter Berry at +62 812 13152283.

Among the equipment available from manufacturers including Komatsu, Caterpillar, Liebherr, Terex, Sandvik, Bucyrus, Tamrock and Volvo are:

  • Dump trucks (many new)
  • Track dozers
  • Cranes
  • Motor graders
  • Excavators
  • Face shovels
  • Compactors
  • Drill rigs

There will be no minimums -- all equipment will be sold.

"In this unprecedented opportunity for buyers from around the globe, we will be selling over $100 million dollars of equipment," said Adam Alexander, president of GA Global Partners. "Late model mining and construction equipment offerings of this scale are uncommon, and we are pleased to be presenting these pieces to the international market."

About Great American Group, Inc. (OTCBB: GAMR)
Great American Group, which recently combined with B. Riley & Co. to create a diversified financial services firm, is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services for an extensive array of companies. Great American Group efficiently deploys resources with sector expertise to assist companies, lenders, capital providers, private equity investors and professional service firms in maximizing the value of their assets. B. Riley & Co. is a leading investment bank which provides a full array of corporate finance, research, and sales & trading to corporate, institutional and high net worth individuals. Corporate headquarters is in Los Angeles with offices and representatives around the world. For more information, call +1 818-884-3737 or visit www.greatamerican.com.

Media Contact:

Michelle Kahan
Great American Group
+1 818-884-3737
mkahan@greatamerican.com


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Xiwang Special Steel Establish the “Bearing Steel Research and Development Centre” with the Renowned Bearing Steel Industry Standard Setting Authoritative Institution

HONG KONG, July 23, 2014 /PRNewswire/ -- Xiwang Special Steel Company Limited ("Xiwang Special Steel" or "the Group", HKEx: 01266) announced Shandong Xiwang Special Steel Company Limited ("Shandong Xiwang"), a wholly-owned subsidiary of the Group, has entered into a 5-year technical cooperation agreement with National Standards Drafting Unit of China Bearing Steel and the authority of bearing technology, Luoyang Bearing Research Centre Company Limited (the "Cooperation Partner") in respect of the establishment of the "Bearing Steel Research and Development Centre". Under the agreement, Shandong Xiwang will provide the production conditions, while the Cooperation Partner will be responsible for inspection, technical support and marketing. The Group aims at producing high-quality GCr15 bearing steel which meets the standards of Swedish SKF (Svenska Kullagerfabriken AB) and USA TMK, and the annual sales volume of GCr15 bearing steel could reach over 500,000 tonnes within five years. It is expected to form the largest high-end bearing steel production base in the north of Yangtze River region to meet the market demand for bearing steel in the near future, and increase the economic efficiency of the Group.

The robust development of the country's strategic emerging industries has urged China to become one of the largest manufacturing countries of bearings globally, which accelerated the demand for high-quality bearing steel in the use of manufacturing industries such as heavy-duty vehicles, engineering machinery, wind power and marine vessels. Furthermore, improvement on the quality of "bearings with high-quality bearing steel" has become one of the highlights under China's 12th Five-Year Plan. According to the "New Materials Industry Development in 12th Five-Year Plan" announced by the Chinese Government, the annual demand for high-quality bearing steel in China is expected to reach 1.8 million tonnes during the period, while the aggregate demand for bearing steel will reach 5 million tonnes, where Shandong Province takes account of 1 million tonnes of bearing steel consumption.

Although the annual domestic output of bearing steel ranks first in the world, the low-end bearing steel among which exceeds 90% of the total amount. The high-quality bearing steel used in heavy machinery industry such as aerospace, nuclear power, vehicles, high-speed rail, wind power, precision machine tools, metallurgical machinery mainly relies on imports.

In view of this, as early as in 2012, Shandong Xiwang has completed its special steel production capacity upgrade from ordinary steel to bearing steel, and completed an integrated and automated production line from steel smelting to continuous casting and steel rolling, which increased the annual production scale of steel product to 3 million tonnes. As the only special steel enterprise with mass production capacity of both bearing steel bar and wire rods products in Shandong Province, Shandong Xiwang is dedicated to accelerating the pace of product upgrades and seizing the high-quality bearing steel market. Through the collaboration with Luoyang Bearing Research Institute, Shandong Xiwang targets to further improve the research and development capacity as well as the current standard of techniques, facilities and inspection equipment of high-quality bearing steel, and enhance the quality and distribution channel of its special bearing steel. The Group aims to reach an annual output of 500.000 tonnes in its high-quality bearing steels production.

In the future, high-quality bearing steel will become Xiwang Special Steel's major product with quality reaching international advanced level, which results in overall profitability improvement. Looking forward, the establishment of the "Bearing Steel Research and Development Centre" will facilitate Xiwang Special Steel to become the first-class special steel enterprise in China.

For enquiry, please contact:

Ms Carol Kong

Tel: (852) 2529 1387

Email: carol.kong@mphk.com

Ms Christine Chan

Tel: (852) 2529 1616

Email: christine.chan@mphk.com

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Frost & Sullivan: Optimistic Growth in Indonesia’s Machine Tools Market

JAKARTA, Indonesia, July 9, 2014 /PRNewswire/ -- Frost & Sullivan is optimistic on growth in Indonesia's machine tools and cutting tools market due to the individual growth of the mining, power generation, automobile, aerospace & defense industry.

Mr. K Vinod Cartic, Consultant at Frost & Sullivan said that as the use of composite materials in automobile industry increases, diamond tipped tools will also grow faster vis-a-vis cemented carbide tools. Cement carbide tools are heavily used in the mining and power generation industry and steel and steel alloys are mostly used in fabrication of various components.

He also said that the use of intricate components in aerospace & defense industry is expected to promote use of high precision tools.

Mr. Cartic predicts that the machine tools and cutting tools market in Asia Pacific is likely to grow at a CAGR (compound annual growth rate) of 9.1 per cent (2012-2017), to reach revenues worth US$6.36 billion in 2017.

"Developments in infrastructure in China and India have increased the demand for machine tools and cutting tools. China became the world's largest consumer of machine tools and cutting tools in 2002. In 2012 China also led in production. Rapid development across various industries and investments in infrastructure are the key reason for this growth," he added.

He also said that many countries depend on China's consumption to increase their export sales. He added that the growth of the Indian's economy and its related industries also create a huge potential for investments in the Asia Pacific's machine and cutting tools market.

Mr. Cartic said that in Indonesia, machine tools import in the automotive sector contributed 45 percent of the country's total imports, while the remaining came from several other sectors such as oil and gas, or transportation. He said that the majority of imported machine tools are from Japan and China.

He added that the heavy industry market account for the major share in terms of consumption of machine tools and cutting tools, estimated at 57.3 percent globally in 2012. The heavy industry primarily consists of equipment and vehicles used in mining and power generation, he said.

Mr. Cartic also said that nuclear power generates 12.3 percent of the electricity produced worldwide and this is expected to increase in the long term. South East Asian countries like Indonesia, Thailand, Malaysia, and Vietnam are expected to account for 29 nuclear reactors by 2025, he added.

He said that the two most commonly used tools used in the automobile industry are cemented carbide and diamond cutting tools. "Diamond tools are used in the machining of lightweight non-ferrous materials such as aluminum, copper, tin and composite materials. The growing demand for these materials in the fabrication of automobile components is likely to increase the demand for diamond tipped cutting tools," he added.

"Machine tools and cutting tools manufacturers are likely to benefit from sales boost with production of automobiles likely to increase tenfold in Indonesia, India and China in the next five years," he said.

He added that the growth of the machine tools and cutting tools market in the Oil &Gas (O&G) industry during the forecast period can be attributed to the increasing oil exploration activity in various regions across the world. Shell, Petrobras, and other major O&G companies are likely to invest in production platforms in countries such as Brazil, Malaysia, and Indonesia.

Mr. Cartic noted said that the global machine tools industry is in the growth stage. The estimated revenue is over US$15 billion and the CAGR between 2014-2017 is expected to be 6.2 per cent. "It is a highly price sensitive market and the market is controlled largely by the top few market participants," he added.

He also noted that Indonesia became Taiwan's 6th biggest market for machine tools in the first 10 months of 2012. Taiwan Association of Machinery Industry (TAMI) statistics showed that Taiwan's exports of machine tools to the Southeast Asia surged 23.5 percent year on year in the Jan.-Oct. period of 2012, during which the island's total machine tool exports increased 9.2 percent from the same period of last year to US$3.50 billion.

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