92 Percent News

The U.S. Bureau of Ocean Energy Management (BOEM) said Friday that it would hold an oil and gas lease sale in the Gulf of Mexico in March 2023.The Gulf of Mexico Oil and Gas Lease Sale 259 will offer approximately 13,600 blocks on 73.3 million acres in the Western, Central, and Eastern Planning Areas on the U.S. Outer Continental Shelf. Lease Sale 259 was one of three offshore lease sales initially cancelled by the Biden Administration in May 2022. The subsequent Inflation Reduction Act of 2022 (IRA) mandated that BOEM hold Lease Sale 259 no later than March 31…

U.S. company Dominion Energy expects to file plans later on Friday with the Virginia State Corporation Commission for approval to construct the 2.6-gigawatt Coastal Virginia Offshore Wind (CVOW) commercial project, which will generate enough clean energy to power up to 660,000 homes."The filing keeps the project on schedule and builds on recent economic development announcements, such as the Siemens Gamesa Renewable Energy turbine blade factory at the Portsmouth Marine Terminal and Dominion Energy's investment in the only U.S.

Teekay GP, the general partner of Teekay LNG Partners, has secured a new, 3-year fixed-rate charter contract for the Magellan Spirit LNG carrier to an integrated oil and gas company commencing during the summer of 2019. Concurrently, Teekay LNG extended the in-charter of the Magellan Spirit until the summer of 2022, said a release from the marine energy transportation, storage & production company."Including the new, 3-year charter announced today, the Partnership’s LNG carrier fleet is approximately 97, 93 and 92 percent fixed for the remainder of this year, 2020 and 2021, respectively, which further supports Teekay LNG’s expected earnings growth and continued deleveraging profile over the next few years…

The second of Crowley Maritime Corp.’s new combination container/roll-on roll-off “ConRo” ships - MV Taíno, one of the first of its kind to be powered by liquefied natural gas (LNG) - completed its maiden voyage to Puerto Rico on Friday morning, Jan. 11. MV Taíno, which departed Jan. 8 from its mainland homeport of Jacksonville, Fla. (JAXPORT), is the second of two ConRo vessels constructed for Crowley. Sister ship MV El Coquí began its first-in-class service in July 2018.The ships…

Crowley Maritime Corp. has taken delivery of Taíno – the second of two of the world’s first combination container/roll on-roll off (ConRo) ships powered by liquefied natural gas (LNG) – from shipbuilder VT Halter Marine Inc., of Pascagoula, Miss.Taíno will soon join sister ship El Coquí, which was delivered in July, in providing fast, reliable and environmentally friendly shipping and logistics services between Jacksonville, Fla., and San Juan, Puerto Rico. This major milestone marks the final chapter in construction of Crowley’s $550 million investment in the two newly built…

MarineNews showcases the ten best of North America’s 2018 workboat deliveries. Domestic shipyard production is robust, innovative and getting greener. And, that translates into two kinds of ‘green.’As the domestic offshore energy support sector slowly awakens, other sectors have been happy to take the spotlight in its absence. As always, and if a hull was delivered in 2018, we took a look at it, with several areas as a focus for inclusion into this edition. For my part, I’m always excited when the U.S. boatbuilding sector can deliver for a foreign buyer. We’ve checked that box here. And, that’s because we can compete on price, quality and when we do…

Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday.The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator, known as the National Hydrocarbons Commission (CNH), following a landmark 2013 energy opening that has led to more than 100 oil and gas contracts being awarded in a series of auctions.Eni sees initial crude oil production of 8…

As maritime operators deal with challenging operating conditions, many are embracing digitalization as the most reliable way to lower operational costs and improve vessel efficiency.According to research conducted by Lloyds List Intelligence and Ovum, two-thirds of vessels use digitalization systems onboard. According to the executives surveyed, this is being driven by a desire to improve operating efficiency, with 88 percent already working toward that goal. As part of the process…

U.S. based Crowley Maritime Corp. has taken delivery of one of the world’s first combination container/roll on-roll off (ConRo) ships powered by liquefied natural gas (LNG), from shipbuilder VT Halter Marine Inc. The Jones Act compliant El Coquí is the first of two Commitment Class, LNG-powered ConRo ships being built for Crowley’s shipping and logistics services between Jacksonville, Fla., and San Juan, Puerto Rico.Operated by Crowley’s global ship management group, El Coquí will make its maiden voyage to San Juan later this month from Jacksonville (JAXPORT), its dedicated U.S. mainland port.

The Crew Connectivity 2018 Survey Report, sponsored by KVH Industries and Intelsat, shows digital transformation underway in the maritime industry. Roger Adamson, Futurenautics Maritime’s chief executive officer, presented to a London audience yesterday the key findings from his research organization’s newly released Crew Connectivity 2018 Survey Report, sponsored by KVH Industries, Inc. and Intelsat S.A. The report is based on a survey of 6,000 serving seafarers, the largest sample to date to complete the wide-ranging questionnaire covering onboard attitudes to the digital transformation sweeping the industry. According to the report…

Imagine a settlement over falsifying emission levels in another transportation sector dropping money onto your deck. Who knew? But it’s true. The $2.9 billion settlement fund Volkswagen agreed to capitalize for distribution across all 50 states, tribal lands and Puerto Rico, as a result of “dieselgate,” its criminal dodging of required auto emission levels, presents an unparalleled opportunity to maritime companies that want to move their noxious diesel engines up a couple of EPA notches, and stick someone else with close to half the bill or more.

Gulf Island Shipyards LLC, Houma, Louisiana, is being awarded a $63,560,942 firm-fixed-price and fixed-price with economic price adjustment contract for the detail design and construction of the Towing, Salvage and Rescue Ship (T-ATS). This contract includes options for seven additional vessels which, if exercised, would bring the cumulative value of this contract to $522,701,092. Work will be performed in Houma, Louisiana (92 percent); Hampton, Virginia (5 percent); Stord, Norway (2 percent); and New Orleans, Louisiana (1 percent), and is expected to be completed by September 2020. Fiscal 2016 shipbuilding and conversion (Navy) funding in the amount of $63,560,942 will be obligated at time of award and will not expire at the end of the current fiscal year.

The Piraeus Port Authority S.A. (PPA) 2017 financial report revealed profits before tax amounted to €21.2 million ($26.19 mln) compared to €11.0 million ($13.59 mln) in the year 2016, showing an increase of 92 percent. Turnover amounted to €111.5 million compared to €103.5 million in the corresponding period of 2016, showing an increase of 7.7 percent. The operations at the container terminal showed significant increase in revenue by € 7million (53.1 percent), where container throughput increased by 70.6 percent, meaning 453.264 TEU compared to 265.716 TEU in 2016, while the income from the concession fee of the Pier II and Pier III increased approximately by €3.4 million (8.4 percent).

After a few years of relative calm, the 2017 hurricane season wreaked havoc in the Atlantic and the Gulf of Mexico, causing widespread damage and human suffering, and exposing the vulnerabilities and strengths of American energy security. As the flood waters from Hurricane Harvey receded and Gulf coast residents embarked on the arduous road to recovery, the offshore energy industry took stock and counted its losses and blessings. Offshore energy facilities faired remarkably well compared to onshore energy facilities, many of which suffered catastrophic damage from flood waters.

VT Halter Marine has launched the second of Crowley Maritime Corp.’s new Commitment Class ships, Taíno, one of the world’s first combination container/roll on-roll off (ConRo) vessels powered by liquefied natural gas (LNG). Taíno will now proceed through the final topside construction and testing phase at the shipyard in Pascagoula, Miss., before beginning service in the U.S. Jones Act trade in 2018. She will join sister ship, El Coquí, which was launched earlier this year and is now in final testing prior to entering service in early 2018.

U.S. seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total volume is predominantly driven by a growing demand from European importers. East Asian buyers have also ramped up their import of U.S. coal, which is beneficial for the dry bulk shipping industry as it generates a substantial amount of ton-miles, relative to other destinations. BIMCO reported back in December 2016, that the ton-miles from U.S.

India's Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day (bpd) as refiners boosted purchases after lifting of some Western sanctions against Tehran last year. India, Iran's biggest oil buyer after China, was among a handful of countries that continued to deal with Tehran despite Western sanctions over its nuclear programme. Refiners shipped in about 541,000 bpd of Iranian oil in the fiscal year to March, a growth of about 115 percent over the previous year, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. Iran was India's second biggest oil supplier - a position now belonging to Iraq - before economic sanctions aimed at Iran's nuclear programme hampered its trade relations…

Venezuelan state oil company PDVSA has delayed and canceled crude deliveries to commercial partners in recent months, according to documents seen by Reuters, a further sign of the steady production decline of the country's top export. From October through January, PDVSA canceled or delayed delivery of almost 7 million barrels of crude due to cargoes being rescheduled or skipped, often because it did not have enough oil available, according to internal company documents seen by Reuters. Most pending cargoes were supposed to be delivered to regular buyers including U.S. Phillips 66 and Thai TIPCO Asphalt. Other shipments were canceled even before being assigned to specific customers.

On the November 25, 2016 Europe Technologies Group signed a Memorandum of Agreement with the Shipbuilding and Repair Development Company of Trinidad and Tobago Limited in Nantes, France. This Trinidad-based ship repair arrangement with the expert guidance of the Europe Technologies Group will provide both project management and skilled personnel in organizing the working party with the ship-owner, the shipyard, the technology owner (which has around 310 LNG carriers equipped with its technologies)…

Interferry has unveiled a strategic plan promising to put safety issues at the heart of its work as the voice of the worldwide ferry industry. The pledge came at the global trade association’s 41st annual conference in Manila – a venue chosen to spotlight the challenges of domestic ferry safety in developing nations. According to Interferry, the plan signals its overriding ambition to help lift ferry safety in all parts of the world to the very high standard already in place in North America and Europe, where casualties in recent decades have been extremely rare.

Oil prices were up as much as 2 percent on Wednesday after a third surprise weekly drop in U.S. crude stockpiles helped assuage fears over a global oil glut. Oil was also supported by an industry strike in Norway that threatened to cut North Sea crude output and a weaker dollar ahead of a Federal Reserve policy announcement at 2:00 p.m. EDT (1800 GMT), where the central bank was expected to keep U.S. interest rates unchanged. The U.S. Energy Information Administration (EIA) said crude inventories fell 6.2 million barrels last week, versus a 3.4 million-barrel drop forecast in a Reuters poll. Crude stocks in the United States, the world's largest oil consumer, have fallen since 14.5 million barrels were drawn in the week to Sept.

Krishnapatnam Port, an all-weather; deepwater port on India’s east-coast, earmarked a historic moment for India’s bilateral trade and commerce as the first direct container vessel, part of coastal shipping agreement to facilitate trade between India and Bangladesh, set sail from the port on March 28, 2016. The trade agreements which were signed during the reign of the then Indian Prime Minister Indira Gandhi in 1974 were revived back after a period of four decades during Prime Minister Narendra Modi’s visit to Dhaka last year.

The keel for the second Commitment Class liquefied natural gas (LNG)-powered, combination container – Roll-On/Roll-Off (ConRo) ship for Crowley Maritime Corp.’s liner services group was laid yesterday during a ceremony at shipbuilder VT Halter Marine, Inc.’s facility in Pascagoula, Miss. The keel laying ceremony marked the next step in the construction of Crowley’s two Commitment Class ships, which will exclusively serve the U.S.-Puerto Rico trade lane. “The keel laying marks the ceremonial beginning of the construction and formation of the backbone of a ship…