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20 Sep 2023

Remote Operations: Challenges & Opportunities

Image courtesy Harvest Technology Group

Digitalization in the maritime industry continues to grow. Technology is constantly evolving, providing organizations with new ways to transform and manage their operations with adoption of technology creating first-mover advantage and future relevancy, and positivity impacting margins. The offshore services industry has been a major driver in the trend towards utilization of remote inspection and monitoring technology for Inspection, Repair, and Maintenance (IRM) of critical assets and infrastructure.

15 Sep 2023

Biden’s Offshore Wind Target Slipping Out of Reach as Projects Struggle

Credit:Cavan/AdobeStock

President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders.The 2030 target, unveiled shortly after Biden took office, is central to Biden's broader plan to decarbonize the U.S. economy by 2050. It is also crucial to targets of Northeast states hoping wind will help them move away from fossil fuel…

06 Jul 2023

AMPTC Chooses StormGeo's Fleet Performance Management for Sustainable Tanker Operations

Image Caption - AMPTC to install StormGeo's Environmental Performance module on all tanker vessels - ©StormGeo

Arab Maritime Petroleum Transport Company (AMPTC) has implemented StormGeo's environmental performance management solution across its entire tanker fleet to manage the environmental performance of its fleet and adhere to evolving GHG regulations. AMPTC recently solidified a three-year agreement to use StormGeo’s Environmental Performance module in s-Insight on all tanker vessels at AMPTC’s disposal."At AMPTC, we perform intensive market research on the solutions available before we reach a decision on whom we will partner with.

22 Feb 2023

MGBW Workers Complete In-house Welding Program

(Photo: Marine Group Boat Works)

Marine Group Boat Works (MGBW), a family-owned boat repair and construction facility, is pleased to announce that 30 of its boatbuilders recently graduated from MGBW’s in-house Welding Certification Program. The Welding Program was launched in 2021 with support from a Small Shipyards Grant awarded by the U.S. Department of Transportation Maritime Administration (MARAD). In total, $859,250 was spent to develop the curriculum, secure an instructor, equip the welding classroom and…

17 Nov 2022

Nigeria to Build its First FLNG Unit

UTM Offshore Signs Front-End Engineering Design (FEED) Contract for Floating Liquefied Natural Gas (FLNG) Facility in Nigeria. Image Source: UTM Offshore

Nigerian company UTM Offshore has signed a front-end engineering design (FEED) contract for the development of an FLNG facility in Nigeria with JGC Corporation, Technip Energies, and KBR.This will be Nigeria's first floating liquefied natural gas (FLNG) facility. Africa currently has two FLNG units in operation, the Hili Episeyo in Cameroon, and, as of recently, the Coral Sul FLNG in Mozambique. In Nigeria, the FLNG unit will be used for development of offshore block OML  204.According to Chief Timipre Sylva…

08 Sep 2022

Q&A: Growing Blue Economy Opportunities for US Exporters in Canada

Tracey Ford

Canada is one of 20 markets to be featured at the Discover Global Markets: The Blue Economy export forum September 20-22, 2022The growing demand for marine technologies is generating new export possibilities for U.S. companies. To help American businesses pursue these opportunities, the Department of Commerce’s International Trade Administration (ITA) is hosting Discover Global Markets: The Blue Economy, in Providence, Rhode Island, Sept. 20-22, 2022. Based at the U.S. Embassy in Ottawa, Canada Senior Commercial Specialist Tracey Ford is leading a delegation with a Canadian buyer to the event.

17 Jun 2022

Costa Toscana: Costa Cruises Christens New LNG-powered Flagship in Barcelona

Costa Toscana in Barcelona - Credit: Bartolomej Tomić

Italian cruise line Costa Cruises on Thursday held a christening ceremony for its new flagship, the Costa Toscana, in the port of Barcelona, Spain.The LNG-powered, Italian-flagged ship sailed away from Civitavecchia, Italy on Monday, making a stop in Naples on Thursday, before arriving in Barcelona on Thursday for the christening ceremony. The 337-meter ship is one of the largest ocean liners and can accommodate 6,554 passengers. Chanel, a Cuban-Spanish singer, dancer, and actress…

07 Feb 2022

Small Business Dredging Opp, Mobile District

© Erich Grant / Adobe Stock

The U.S. Army Corps’ Mobile District published a “Market Research and Sources Sought Notice” seeking information on contractors for dredging within the boundaries of Sand Island Beneficial Use Area (SIBUA) in Mobile County, Ala.Note the ACE’s phrase here: this is a “sources sought synopsis,” not yet a solicitation. ACE uses this initial query to check availability of “potential qualified small business firms who own dredges capable of performing the work.” Responses are used to make upcoming acquisition decisions.

01 Feb 2022

The Path to Zero: Mitsubishi Shipbuilding Creates Decarb Business Group

Illustration of an LCO2 carrier. Image couretesy Mitsubishi Shipbuilding Co., Ltd.

Mitsubishi Shipbuilding Co., Ltd. has established a Marine Decarbonation Business Development Group responding to the energy transition strategy promoted by MHI Group. “We have received numerous inquiries from customers regarding growth sectors such as LCO2 carriers and ammonia fuel vessels and we need a dedicated organization to coordinate the technological innovation and handle this business," said Toru Kitamura, President and CEO of Mitsubishi Shipbuilding. "The establishment…

14 Jan 2022

VesselsValue Buys Norwegian Shipping Research firm ViaMar

Credit: Photo Gallery/AdobeStock

Online valuation and data provider, VesselsValue, said Friday it had acquired the Norwegian shipping research and advisory company, ViaMar.ViaMar, based in Oslo, is becoming part of VesselsValue which has over 200 employees across eight offices worldwide in the UK, Singapore, Hong Kong, Shanghai, Seoul, and Manila.The Norwegian company provides market research and advisory services in shipping, energy and financial markets, and, according to VV, has particularly strong relationships with major banks…

12 Nov 2020

Aquaculture: Inside the De Maas’ Offshore Fish Farm

Image Courtesy De Maas.

As attention increasingly turns to ocean health and sustainability, an innovative new fish farm solution was deployed earlier this year when the De Maas’ Semi-submersible Spar Fish Farm (SSFF) became the world’s first offshore farm installed at an open ocean location exposed to tropical storms. MTR recently visited – virtually – with co-founder Philip Schreven for insight on the design and operation particulars of their innovation.How did you became involved in this unique niche of the maritime industry?Mark van Leeuwen and I founded De Maas in 2007 as an offshore oil and gas services company.

25 Sep 2020

Iran's Oil Exports Jump in September Defying Sanctions

© broccoli.studio / Adobe Stock

Iranian oil exports have risen sharply in September in defiance of U.S. sanctions, three assessments based on tanker tracking showed, throwing a lifeline to the Islamic Republic and its collapsing economy.Exports have shrunk from over 2.5 million barrels per day (bpd) since the United States withdrew from a nuclear deal with Iran and reimposed sanctions in 2018. Still, Iran has been working to get around the measures and keep exports flowing.Data from TankerTrackers and two other firms indicated exports are rising in September…

14 Jul 2020

i911: Tapping Cellphone Location Data to Save Lives

(Image: USCG)

In recent years the U.S. Coast Guard has identified an increasing trend in the use of cellular phones by the maritime public when communicating distress. In 2018, leadership in the Office of Search and Rescue (SAR) at Coast Guard Headquarters asked the Research and Development Center (RDC) to investigate available technologies that could assist Coast Guard responders in adapting to this trend by leveraging the cellphone’s internal GPS. The RDC, located in New London, Conn., has been serving the Coast Guard for nearly 50 years through research…

03 Apr 2020

Oil Posts Biggest One-day Gain After Trump Touts Saudi-Russia Deal

© Pavel Ignatov / Adobe Stock

Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.Trump did not specify barrels per day (bpd)…

19 Jan 2020

Tsuneishi Delivers 500th TESS Design Bulker

Japanese shipbuilding major Tsuneishi Shipbuilding delivered the 500th newbuilding in long running bulker range the Tsuneishi Economical Standard Ship (TESS).The TESS64 Aeroline bulker Sarita was delivered to Ugland Shipping by Tsuneshi Heavy Industries (Cebu) in November last year marked the 500th vessel of a TEES design to be delivered."As indicated by its name “TESS”, the TESS series features fuel consumption performance with excellent economy, and high versatility that is easy to use. TESS, our representative brand, has been a favorite with customers since the first ship was completed in 1984," said a press release.While Handymax bulk carriers used to have a deadweight of 36…

27 Nov 2019

US Nearing Energy Independence

In just a few months, the U.S. will be fully energy independent and by 2030, the country's total primary energy production will outpace primary energy demand by 30 percent.According to the Norwegian market research consultancy Rystad Energy, this milestone follows a strong period of growth in both hydrocarbon and renewable resources."We forecast that the US will have primary energy surplus – and not a deficit – by February or March 2020, depending on the intensity of the winter season,” says Sindre Knutsson, vice president on Rystad Energy’s gas markets team.“Going forward, the United States will be energy independent on a monthly basis, and by 2030 total primary energy production will outpace primary energy demand by about 30%,” Knutsson added.These developments are already in full swing.

22 Nov 2019

FPSO Vessel Revenue to Reach $8.30Bln by 2026

The global floating production storage and offloading (FPSO) vessel market is expected to grow at a robust rate of 11.80% during the forecast period 2016 to 2026. Additionally, the revenue in the global FPSO vessel market is projected to reach up to US$8.30bn by the end of 2026.Growing demand for alternative sources of oil due to continual depletion of existing oil reserves drives the global FPSO vessel market, said a report by Transparency Market Research Market (TMR).On the basis of geography, Latin America held a large share until 2016. In the upcoming years Brazil is projected to hold a major share in the global floating production storage and offloading vessel market.

08 Nov 2019

Small Scale LNG Market to Grow by 6.81%

Global small-scale LNG market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026.Increasing demand for the LNG is the major factor for the growth of this market, said Data Bridge Market Research.The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker, ships and trucks.These small LNG has production capacity of 500000 TPY and are usually used where there is requirement of LNG by the consumers.

05 Nov 2019

LNG Terminals Market to Grow 3% by 2022

The large-scale LNG terminals market size is expected to post a CAGR of close to 3% during the period 2018-2022, according to the latest market research report by Technavio.The rising demand for clean fuels is one of the major reasons for the growth of the large-scale LNG terminals market. Fossil fuels constitute a major source of energy to cater to the demands from the residential, commercial, and industrial sectors. However, they result in heavy emissions of CO2 and other greenhouse gases (GHGs).Various regulations are being laid down by national governments and inter-governmental organizations to mitigate the concern of environmental pollutants.

24 Oct 2019

BLUE Acquires 20|20 Marine Energy Consultancy

Specialist maritime consultancy 20|20 Marine Energy (20|20) founded by bunker industry veteran Adrian Tolson has been acquired by UK-based BLUE, the business, brand and communications consultancy for the marine and energy markets.20|20 will be re-named BLUE Insight to provide commercial advisory and research services for key transformative areas within the maritime industry.The practice - which will be led by Adrian Tolson, 20|20’s Senior Partner - provides BLUE with a physical presence in North America, as well as wider and deeper support to BLUE’s current clients.BLUE Insight will provide strategic commercial advisory services for business-critical areas that are fundamentally changing the marine and energy markets and evolving and disrupting traditional business models.

04 Oct 2019

Autonomous Ships Market: $134.9B by 2030

The global autonomous ships industry is expected to generate $134.9 billion by 2030, witnessing a CAGR of 4.4% from 2020 to 2030.This projection is premised on an increase in demand for cargo transportation from marines and surge in operational safety of ships drive the growth of the global autonomous ships industry, according to a report published by Allied Market Research.Based on region, Europe is expected to register the largest growth rate with a CAGR of 4.9% from 2020 to 2030. North American region is estimated to grow at the second-highest growth rate in the market, registering a CAGR of 4.4% during the study period.Asia-Pacific will account for nearly half of the total market share in 2020…

16 Sep 2019

Oil Price Spike after Saudi Attack Temporary

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels per day (bpd) of crude production, which equates to 7% of the current global crude and condensate production.Rystad Energy says that oil price spike will be short-lived. Bjørnar Tonhaugen, head of oil market research at Rystad Energy said: “The bullish reaction in oil prices will likely be limited by Saudi Arabia’s vast quantities of crude in storage, estimated to equal roughly 26 days of current crude exports, a large portion of which is at the main export terminal Ras Tanura.

12 Sep 2019

LNGC Containment Market to Reach $16Bln By 2025

The global liquefied natural gas (LNG) carrier containment market was USD 11.21 billion in 2018 and is expected to reach around USD15.56 billion by 2025, growing at a CAGR of 4.9% between 2019 and 2025.The LNG carrier containment market is majorly driven by the rising demand for natural gas from various industries and LNG’s growing number of residential and commercial applications, said a report by Zion Market Research.Furthermore, LNG has witnessed an exponential increase in its demand as an automobile fuel in recent past, which has bolstered supportive government regulations for cleaner fuel that aims to reduce dependence on petroleum…

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