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Long Term

Exxon's New Guinea LNG Plant: 4 August Cargoes

ExxonMobil's Papua New Guinea liquefied natural gas (LNG) export plant is offering to sell four cargoes loading in August to long-term buyers as well as Asian end-users, two traders said. The rapid export rate from the new plant, which was completed ahead of schedule, has helped push global LNG prices lower as major Japanese buyers retreat from spot markets. The plant's main long-term buyers are Japan's Tokyo Electric Power, Osaka Gas and Taiwan's CPC, but low demand across Asia may have led Exxon to broaden its offers. Reporting by Oleg Vukmanovic


Sovcomflot Concludes $319 mi 10-year Loan

The fund will be used to finance  2 ice-class LNG carriers

  OAO Sovcomflot (SCF Group) signed a new USD 319 million 10 year credit facility with a consortium of leading European banks with ING acting as Agent.  The funds will be used towards financing two new ice-class LNG carriers SCF Melampus and SCF Mitre, which will operate on long-term contracts with the Shell Group. The new high-spec Atlanticmax Ice2 (1C) class gas carriers feature a tri-fuel engine, a cargo capacity of 170


CMA CGM Issues Statement to Thwart Rumors

Responding to information circulating, CMA CGM Group states that it has no short term plans to either purchase or long-term charter-in any vessels. The Group has a modern fleet of 408 ships, of which 92 are owned, that enable it to meet the current needs of its customers and provide them with end-to-end service around the world. In today’s economic environment, CMA CGM’s priorities are to reduce its debt and to strengthen its financial position.


Otto Marine Send Two AHTS to GoM, One to W. Africa

AHTS Redfish 4: Image courtesy of Otto Marine

Offshore marine services firm Otto Marine informs it has obained a total of US$24.9 million in charter contracts for three offshore vessels – Redfish 4, Go Canopus and Go Altair. Details as follows: Redfish 4, an 8,000bhp Anchor Handling Tug Supply (AHTS) vessel equipped with dynamic positioning 2 capabilities will be deployed for work on long term charter in Mexico. Go Canopus, a 10,800bhp AHTS vessel built in 2009 with DP2 technology has been contracted on long term charter


Great Lakes Coal Up 9% in October

photo courtesy Midwest Energy Resources Company

Shipments from Lake Erie nearly double that of a year ago Coal shipments on the Great Lakes topped 3 million tons in October, an increase of 9 percent compared to a year ago, while shipments also outpaced the month’s long-term average by 75,000 tons, the Lake Carriers’ Association reported. Shipments from Lake Superior ports totaled 1.7 million tons, an increase of 3.5 percent compared to a year ago, and a slight increase over the month’s long-term average.


Anadarko in Talks with Jera for Mozambique LNG Deal

Anadarko Petroleum  is in talks with newly formed Japanese joint-venture vehicle Jera, set to become the world's biggest buyer of liquefied natural gas (LNG), to sell long-term supply from its Mozambique export scheme.   The U.S. oil major's gas finds in Area 1 of Mozambique's Rovuma Basin will feed the initial 10 million tonnes per annum (mtpa), $23 billion LNG export project, which is due to start by 2021.  


SBX' Acquires Remaining 50 percent in Sana Navigation

SeaBird Exploration Limited (BVI) (SBX) has acquired the remaining 50 percent ownership in the Joint Venture entity Sana Navigation Company Limited (Sana) which charters the M/V Northern Explorer from Russian owners on a long term bareboat charter. The purchase price is $25.5m. The Joint Venture is now terminated in all respects. The acquisition of the 50% interest in Sana includes the long term bareboat contract, the liquid cash, other current assets


Ultrabulk Orders Handysize Bulk Carriers

Ultrabulk signs contracts with a Japanese yard for construction of new generation handysize bulkers Denmark-based Ultrabulk has placed an order with a major Japanese ship yard for the construction and delivery of one new generation super ECO-designed handysize bulker of 38,000tdw size for delivery in 2014, with Ultrabulk’s option to extend the order with one additional vessel. The vessel(s) will be equipped with an electronic main engine as well as other equipment and systems which are


Bangladesh’s First LNG Import Terminal in the Works

Excelerate Energy and Petrobangla in agreement for long-term FSRU charter and construction of LNG import facility Excelerate Energy and Petrobangla have reached agreement on terms for the development and operation of Bangladesh’s first LNG import terminal. The agreement includes the provision of one of Excelerate’s existing floating storage and regasification units (FSRU) under a 15-year long-term charter, as well as the design and construction of the facility


NYK Fixes Charter for Wood-chip Carrier

Courtesy NYK

NYK has concluded a long-term contract with Hokuetsu Kishu Paper Co. Ltd. for a new wood-chip carrier to be built by Oshima Shipbuilding Co. Ltd. and delivered in 2018. The ship will be able to load 4.3 million cubic feet of wood chips and will feature an advanced eco-design and electronically controlled engines.   NYK currently has long-term contracts with Hokuetsu Kishu Paper for six wood-chip carriers, the largest share of contracts that any shipping company has with Hokuetsu Kishu


Floating Products Storage in Focus

Graph: Gibson Tanker Report

 For much of 2015, talk of floating storage was dominated by speculation that the contango in crude futures might support crude floating storage, says Gibson Tanker Report.   However, at the same time, much of the oil surplus was being absorbed by refiners chasing some of the best


Singapore’s Mega Terminal Construction Kicks Off

Image: MPA Singapore

 The Maritime and Port Authority of Singapore (MPA) has started the construction of a new container terminal at the western end of the island to replace existing container port facilities and consolidate operations for the long term.  


MOL's LNG Carrier KUMUL Delivered

At the naming ceremony Courtesy MOL

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) announced the delivery of the LNG carrier KUMUL at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) in Shanghai on April 29. A naming ceremony was held at the shipyard on April 8


GE Gas Turbines for Japan's New Warship

Photo courtesy of GE Marine

GE's Marine Solutions announced it will provide IHI, Tokyo, Japan, with two LM2500 aeroderivative marine gas turbines for the Japan Maritime Self Defense Force's (JMSDF) new 8,200-ton class Aegis destroyer.   “GE's LM family of gas turbines are already part of numerous JMSDF ships


Kalmar's Straddle Carriers for HHLA CTB

Kalmar Electric Straddle Carrier Photo Kalmar

Kalmar, part of Cargotec, has secured an order for nine diesel-electric straddle carriers from the leading European port and transport logistics group Hamburger Hafen und Logistik AG (HHLA). The order was booked in Cargotec's 2016 first quarter order intake


AkzoNobel Debuts Intershield

Intershield for  on-board maintenanceCourtesy AkzoNobel’s Marine Coatings

AkzoNobel’s Marine Coatings business has launched a best-in-class anticorrosive universal primer, Intershield One-2-One, which delivers simplified maintenance, waste avoidance and enhanced corrosion protection.   Intershield One-2-One


Hapag-Lloyd Confirms USAC Merger Talks

File Image: A USAC containership underway (USAC)

Hapag-Lloyd is in talks to merge with rival United Arab Shipping Company (UASC), the German container shipping group said on Thursday, confirming an earlier report. "The parties are basing their discussions on a relative valuation of the two businesses at 72 percent (Hapag-Lloyd) and 28


Atlantic Pioneer Gets to Work at Block Island

Atlantic Pioneer (Photo: Atlantic Wind Transfer)

The first US-built and operated offshore wind farm crew transfer vessel will be named at an official christening ceremony in Quonset Point, Rhode Island. Following the Christening the ‘Atlantic Pioneer’, owned and operated by Atlantic Wind Transfers


Europe Cheers IMO Efforts on CO2 Reduction of Shipping

Photo: European Community Shipowners’ Associations (ECSA)

 European shipowners welcome the significant progress made this week at the 69th session of the IMO Marine Environment Protection Committee (MEPC).    The basic features of a global CO2 data collection system have been agreed upon and further work on CO2 reduction commitments from


New Boxes Developed to Ship Live Lobsters

Image: CMA CGM

CMA CGM Group develops AQUAVIVA, a new generation of containers to transport live lobsters   The CMA CGM Group has launched a new generation of containers which allows for the safe carriage of live lobsters in their original water in conditions maintaining their natural habitat


Self-unloaders Ordered for New Great Lakes Bulkers

MacGregor, part of Cargotec, has received an order for gravity self-unloading systems for two 29,800 dwt bulk carriers (lakers) from the Yangzijiang shipyard, in China. The vessels will be delivered late 2017 / early 2018 to Canadian Great Lakes operator, Algoma


New Dredged Material Site Proposed in LI Sound

Long Island Sound map (Image: EPA)

The U.S. Environmental Protection Agency (EPA) has proposed to designate a dredged material disposal site to serve the eastern Long Island Sound region. The Eastern Long Island Sound Disposal Site (ELDS) would be located offshore from New London, Conn


Dassault Systèmes Congratulates Oz Naval Deal

(image DCNS Group)

Dassault Systèmes Congratulated DCNS and Australian Government on the historic naval Defense Collaboration                      France-based DCNS has been selected by the Commonwealth of Australia as its


Samsung Heavy Loses $4.6-bln FLNG Order

Photo: Samsung Heavy Industries Shipyard

 South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied natural gas (FLNG) units from oil and gas giant Royal Dutch Shell Plc.  


ANZAC Class Frigate Sustainment Deal Signed

HMAS Perth Anzac Class Frigate, Australia Photo RAN

The Turnbull Government has signed a long-term contract for the sustainment of ANZAC Class Frigates centred in Western Australia.   The strategic partnership between BAE Systems Australia Defence Pty Limited, Saab Australia Pty Ltd, Naval Ship Management Australia Pty Ltd (a joint venture






 
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