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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


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.  


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


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


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


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.


TEN Extends Charters for Three Product Tankers

Photo courtesy of TEN

Three new charters to generate total revenues of $40 million; spot rates increase in Q4 Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd. (TEN) announced the charter extension for three product tankers, including two Panamaxes and one MR, for two and three years respectively to a South American oil major. These contracts are expected to generate $40 million in total gross revenues over their relevant duration.


Matson Orders Two ConRo Ships from NASSCO

Artist rendering of Matson Kanaloa Class vessel. Courtesy General Dynamics NASSCO (Image: Matson, Inc.)

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two new combination container and roll-on/roll-off (Con-Ro) vessels for its Hawaii fleet at a contract price of $511 million for both


MISC Enters Thai Offshore O&G Market

Pairoj Kaweeyanun, President of Chevron Offshore Thailand, Ltd., and Tuan Syed Hashim Syed Abdullah, Vice President Offshore Business of MISC Berhad, after the signing of agreement between Chevron Offshore (Thailand) Ltd. and MISC Offshore Floating Terminals (L) Limited. (Photo: MISC Berhad)

    Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.   MISC’s wholly-owned subsidiary, MISC Offshore Floating Terminals (L) Limited (MOFT) signed a contract for


Grand Bahama Shipyard Adds Four Executives

Ian Edward Ross (Photo: GBSL)

Grand Bahama Shipyard Limited (GBSL), a Caribbean shipyard providing retrofit, refurbishment and revitalization to cruise and commercial vessels, has added four new positions to its executive team in 2016.   Taking up the new executive positions are Ian Edward Ross, Don Keirce


BG Freight Line Orders Four Containerships

Image: BG Freight Line

BG Freight Line, a fully owned subsidiary of Peel Ports Group, is to receive new tailor-made short sea container feeder vessels optimized for the company’s Irish Sea Hub services.    The new class of ‘green’ vessels has been developed by BG Freight Line operation with


China Receives First American LNG Cargo

Apollonia passes through the Panama Canals locks on its way to Asia. Photo: Shell

 The first cargo of US liquefied natural gas (LNG) to target the world’s largest energy consumer arrived Monday at the Chinese port of Yantian in Shenzhen near Hong Kong.   The cargo was brought onboard the 161,870-cbm Maran Gas Apollonia


Ice Free Arctic?

Photo Credits: NASA/Kate Ramsayer

 Arctic melting slowed enough in midsummer that scientists don't expect this year's sea ice minimum to set a new record. This year’s melt season in the Arctic Ocean and surrounding seas started with a bang, with a record low maximum extent in March and relatively rapid ice loss through


DP World Rating Upgraded by Fitch

Photo DP World Port

Fitch Ratings recently upgraded DP World Limited’s  Long-Term Issuer Default Rating (IDR) to BBB from BBB- and its Short-Term IDR to F2 from F3. The rating outlook is stable.   The upgrade follows on the Fitch announcement in November 2015 that DP World’s outlook had been


Two Maersk Jack-up Rigs in for Reapir

Photo courtesy of Semco Maritime

Semco Maritime has welcomed the recent arrival of two Maersk Drilling high specification jack-up rigs to its Invergordon shipyard facility. Maersk Reacher will be berthed in the Queens Dock facility for an undisclosed duration, carrying out necessary upgrades and modifications


Port Manatee Inks Del Monte Lease Extension

An extended lease agreement could keep Del Monte fruit imports coming into Port Manatee for two more decades. (Photo: Port Manatee)

Port Manatee says it has signed an agreement to keep Del Monte fruit coming into the Florida Gulf Coast port for as many as 20 more years.   Del Monte Fresh Produce N.A. Inc., which has imported fruit into the deepwater Florida seaport since 1989


PLSV Delivered to TechDof Brasil

Skandi Açu (Photo: DOF Group)

DOF Subsea and Technip announce the delivery of Skandi Açu and commencement of contract with Petrobras   DOF Subsea and Technip, through 50/50 owned affiliate TechDof Brasil AS, have taken final delivery of the pipe-lay support vessel (PLSV) Skandi Açu


Vard Secures Contract for Three Module Carrier Vessels

Vard Holdings Limited announced that it has secured a contract for the design and construction of three Module Carrier Vessels for Kazmortransflot (KMTF). The contract win was previously disclosed on July 29, 2016. The vessels, of VARD 9 28 design


Crowley Christens MT West Virginia

Fourth LNG-Ready, Product Tanker Joins the Crowley Fleet Photo Crowley

Crowley Maritime Corp. today christened the MT West Virginia, its fourth new, Jones Act product tanker for the U.S. coastwise trade, in Philadelphia at Philly Shipyard, Inc. (PSI), the sole operating subsidiary of Philly Shipyard ASA. The West Virginia is LNG ready


New Ship Repair Yard for Zayed Port

Photo: Abu Dhabi Ports

 Abu Dhabi Ports and Abu Dhabi Ship Building (ADSB) have signed a long term contract that when fully realized will see a fully operational ship repair facility that will also include a floating dock capability within Zayed Port.   


Meyer Turku Cuts Steel for New Mein Schiff

Courtesy MEYER WERFT

The production of a new generation of Mein Schiff ships started today at Meyer Turku shipyard, Finland, with the steel cutting ceremony.  The new Mein Schiff 1, NB-1392, will be around 20 meters longer than the previous Mein Schiff ships and will have space for additional 180 cabins.  


Svitzer Continues Its Expansion In Towage

SVITZER ODEN assisting Ebba Maersk,Gothenburg, Sweden. Photo: Svitzer A/S

 In highly challenged shipping and salvage markets, Svitzer delivered an underlying profit for Q2 2016 of USD 23m (USD 30m).   In the first 6 months of 2016, Svitzer expanded its market share in key markets. It is also in the midst of implementing several long term contracts in its






 
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