Offshore Energy Outlook for 2020
The “new normal” is a phrase tossed around often in offshore energy circles today as those servicing and operating in the sector grapple with the harsh realities of the prolonged industry downturn. Operators, service companies and equipment suppliers have been forced to adjust to oil selling at prices well below the $100+ per barrel mark seen in years past. As of this writing, Brent oil was hovering around $62 per barrel…
Protecting Ports from Sea Level Rise
Coastal flooding disasters have occurred periodically through history often followed by construction of flood defenses to help ensure it does not happen again. One of the most well known was the 1953 North Sea Flood in the Netherlands when a storm surge occurred on top of astronomical high tides causing thousands of deaths, property and economic damages. The Dutch and UK reacted and increased construction of sea defenses including storm surge barriers…
Five Common Mistakes in Maritime Contracts
“An ounce of prevention is worth a pound of cure.” – Henry de Bracton, DeLegibus, ~1240Often clients or prospective clients come to me with a commercial contract issue perched on the precipice of full-blown litigation or arbitration. When I ask to see the contract, often times I see errors in drafting that either (1) give rise to the problem before me or (2) could create a bigger problem for the client…
SAAM Towage to Enter El Salvador Market
Latest move to Enter El Salvador with Energía del Pacífico will Reinforce SAAM Towage's Presence in Central America.The Managing Director of SAAM Towage, Felipe Rioja, celebrated the company’s upcoming launch in the new market: El Salvador. “We will provide services for the Energía del Pacífico (EDP) project at the Port of Acajutla, which reinforces our presence in Central America and our commitment to the region…
Matson Takes Delivery of First Kanaloa Class ConRo
Largest "Con-Ro" Ship Built in U.S. Will Serve Hawaii.Matson today took delivery of its newest vessel, the largest combination container / roll-on, roll-off ("con-ro") ship ever built in the United States, from General Dynamics NASSCO. Christened 'Lurline,' the new ship is the first of two "Kanaloa Class" con-ro vessels being built for Matson by NASSCO at a total cost of approximately $500 million for the pair…
Scrubber, BWTS Retrofits Drive Keppel in 2019
Scrubber and ballast water treatment system refits have helped to maintain brisk business at shipyards globally, as shipowners upgrade ships to meet regulatory mandate. In Singapore, Keppel Offshore & Marine Ltd. reports that it has won 104 scrubber and BWTS retrofit orders worth a combined value of $118 million year-to-date, bringing the total number of retrofit projects secured to date to 108 scrubber…
Russia Says Nord Stream 2 Will Be Ready in Months
Russian Prime Minister Dmitry Medvedev said on Monday that the Nord Stream 2 gas pipeline would be completed in a matter of months and U.S. sanctions imposed on the project last week would not be "catastrophic".Russia's new gas transit deal with Ukraine would also mollify the impact on Russian gas supplies of U.S. sanctions introduced on the pipeline project, he said.Last week a major contractor suspended work on the Nord Stream 2 project, which is led by Russia's Gazprom, due to U.S.
Allseas Suspends Nord Stream 2 Work
Swiss-Dutch company Allseas said last week it had suspended its pipe-laying activities in the Nord Stream 2 Russia-to-Germany natural gas pipeline in anticipation of U.S. President Donald Trump's signing of a defense policy bill."In anticipation of the enactment of the National Defense Authorization Act (NDAA), Allseas has suspended its Nord Stream 2 pipelay activities," the company said in a statement dated Dec.
Seven Dead in Migrant Boat Sinking
Seven people died and 64 were rescued when a boat carrying migrants from Pakistan, Bangladesh and Afghanistan sank on Thursday in eastern Turkey's Lake Van, the…
China, Russia, Iran to Hold Naval Drills
China, Iran and Russia will hold joint naval drills starting on Friday in the Indian Ocean and Gulf of Oman, China's defence ministry said on Thursday, amid heightened tension in the region between Iran and the United States.China will send the Xining, a guided missile destroyer, to the drills, which will last until Monday, and are meant to deepen cooperation between the three countries' navies, ministry…
Storm Beaches Merchant Ship in Israel
A cargo ship drifted onto a beach in southern Israel on Thursday after heavy winds and stormy weather forced the vessel away from its anchor point near the port of Ashdod.The 90 meter-long Zelek Star was carrying cement and other goods from Greece to Israel when it was swept away and approached Oranim Beach, officials said. The beach's sandy Mediterranean shoreline is popular with residents and tourists.Photos…
Aframax Tanker Booked at Record US-Europe Rate
PetroChina has provisionally chartered an Aframax tanker at a record U.S.-Europe freight rate, two shipbrokers said on Tuesday, reflecting strong demand for low-sulfur U.S.