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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


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


Terminal Improvement Plan Presented

A draft long-term plan for terminal improvements at Horseshoe Bay was presented by BC Ferries president & CEO Bob Lingwood at a public council meeting in West Vancouver. The Horseshoe Bay development plan includes: · An expanded vehicle holding compound to reduce traffic congestion and queuing on the Upper Levels Highway, · A new ticketing/administration building incorporating recommendations from West Vancouver's advisory design panel, · A new parkade with 350 public parking spaces and


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


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.


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


S&P Cuts MC Shipping Outlook To Negative

Standard & Poor's has revised the outlook on MC Shipping Inc. to negative from stable. At the same time, the company's single-'B' long-term corporate credit rating and single-'B'-minus senior unsecured debt rating were affirmed. The rating on MC Shipping reflects the shipping industry's below-average characteristics, and the company's weak financial profile. MC Shipping is part of the Vlasov Group-a major ship-owning and ship-management group


Apax Partners to Acquire FTMSC

France Telecom has signed an agreement with Apax Partners to sell 100 percent of the shares of France Telecom Mobile Satellite Communications SA (FTMSC). The completion of the transaction is expected in the near future. FTMSC is one of the world’s largest mobile satellite communications providers, marketing and distributing communications solutions for customers based in areas with limited access to terrestrial telecoms infrastructure


CEO to Leave Port

Port of Goteborg AB president and CEO since 1996, Gunnar Nygren will be stepping down in March 2002. At 60, he is planning to take early retirement. “This is a decision that was triggered partly by my turning 60 but even more so by the fact that the Port is now in a position where the future demands more long-term leadership than I will be able to offer,” comment Gunnar Nygren. He quotes key investments that are under way in the Port of Goteborg


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


Mnazi Bay Gas Deal Signed

Mnazi Bay and Msimbati fields in Southern Tanzania

  Maurel & Prom announced that, along with Mnazi Bay license partners Wentworth and Tanzania Petroleum Development Corporation (TPDC), it has signed a gas sales and purchase agreement with TPDC for the long-term sale of natural gas from the Mnazi Bay and Msimbati fields in southern


Port of Long Beach Sees Cargo Numbers Slip

Fall in container shipments

  Container cargo shipments declined by 9.1 percent in August at the Port of Long Beach, reflecting both early shipping by importers this year and the comparison to an August last year that was the Port’s busiest month since 2007.


DP World & Hutchison Port Holdings to Combat Global Warming

Mohammed Sharaf, Group Chief Executive Officer, DP World

  In an unprecedented show of commitment for an environmental cause, DP World and Hutchison Port Holdings Limited (HPH) have joined hands to combat global warming in a Waste Reduction Campaign that will multiply the effect of their individual efforts to curb global greenhouse emissions.


AEGIR-Marine Partners with On Site Alignment

AEGIR-Marine and On Site Alignment.jpg

AEGIR-Marine and On Site Alignment (OSA) signed a contract at SMM in Hamburg confirming the companies’ strategic alliance concerning stern seal and propulsion service and the alignment of propulsion shafting and bearings of seagoing vessels.


Great Lakes Coal Down 18% in August

lca logo.jpg

Coal shipments on the Great Lakes totaled 2.6 million tons in August, a decrease of 18 percent compared to a year ago.  Loadings also trailed the month’s long-term average by nearly 19 percent. Shipments from Lake Superior ports totaled 1,542,703 tons


MAN's PrimeServ Clinches DOF Service Deal

 Pictured at the signing ceremony: (standing, from left) Mikael Adler – Managing Director, MAN Diesel & Turbo, Norway; Serghei Nastas – MAN PrimeServ O&M Sales Manager; Dr. Stephan Timmermann – Member of Executive Board, MAN Diesel & Turbo; Stefan Eefting – Vice President, Head of MAN PrimeServ; (seated, from left) Lars-Heine Njåstad – Chief Procurement Officer, DOF; and Wayne Jones – Senior Vice President, Head of MAN PrimeServ Diesel

SMM signing ceremony commits DOF to five-year Framework Service Agreement At a signing ceremony at SMM, the international marine trade fair in Hamburg, MAN PrimeServ, MAN Diesel & Turbo’s service division, signed a service framework agreement with DOF ASA


Kvaerner Taking Advice on Strategic Growth Alternatives

Kvaerner rig topside: File photo

Kvaerner says it is exploring new strategic opportunities to further strengthen its business and has retained Greenhill & Co. International LLP to advise on evaluating all strategic alternatives.  Kvaerner has during the first half of 2014 delivered several key oil and gas projects on


PMI Energy Services Opens Shorebase in Louisiana

Photo: PMI Energy Services

PMI Energy Services, a Superior Energy Services company, has opened a shorebase in Morgan City, Louisiana, focused on supporting shelf, coastal and inland waters production and drilling activities. PMI’s shorebase is centrally located on the Louisiana coast and provides better protection


Vale, Cosco to Cooperate on Iron Ore Shipping

Brazilian miner Vale SA reached a deal with China Ocean Shipping Co (Cosco) for transporting iron ore, a move that could help the Brazilian miner resolve a costly two-year ban on docking its mega-ships at Chinese ports. Vale said in a statement that it would transfer ownership of four very


Ceremony Marks the Construction of 5 American Tankers

APT 1 Start of Construction Ceremony

  General Dynamics NASSCO and City of San Diego Mayor Kevin Faulconer today signaled the start of construction of five American Petroleum Tankers at a steel cutting ceremony for the first tanker, the APT-1, at the NASSCO shipyard in San Diego.


Two Long Beach Port Funded Projects Opened

Port helps Fund Homeless Center Garden and Solar Carport

  In a festive ceremony, two Port of Long Beach grant-funded environmental projects had their grand openings yesterday,  at the Century Villages of Cabrillo homeless rehabilitation complex in West Long Beach. Century Villages at Cabrillo was awarded grants under the Port’s


DW Release World Drilling & Production Forecast Update

Offshore drill rig: File photo

The new quarterly issue (Q3) of Douglas-Westwood’s (DW) World Drilling and Production Forecast (DWD&P) has been released. Major changes have been seen in the forecasts for Iraq, Libya and Uzbekistan. DW inform that the report now also includes forecasts for Bangladesh, Israel


Portsmouth Marine Terminal Reopens Today

Portsmouth Marine Terminal Reopens Today

  The Port of Virginia marks an important milestone Monday 14th September as Portsmouth Marine Terminal (PMT), closed for nearly three years, reopens to cargo operations. At 8 a.m. on Monday, the terminal will begin receiving trucks carrying containers for export


Rickmers' Fleet Equipped with Bluetracker

Photo courtesy of Interschalt

Long-term efficiency gains for the fleet on account of data capture and analysis on board and onshore. Declaration of intent signed at the SMM.   Rickmers Shipmanagement and Interschalt signed a declaration of intent at the SMM for the installation of Bluetracker


Wärtsilä Expands Propulsion Monitoring Services

Process for gathering and analysing data with Wärtsilä Propulsion Condition Monitoring Service

Wärtsilä expanded its offering in propulsion monitoring services. The Wärtsilä Propulsion Condition Monitoring Service (PCMS), introduced to the market in 2010, will now feature expanded functionalities and is now available in two editions - PCMS Starter and PCMS Professional






 
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