Energy Flows News

A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.Attacks in recent days on ships in the major Red Sea shipping route have raised the spectre of another bout of disruption to international commerce following the upheaval of the COVID pandemic, and prompted a U.S.-led international force to patrol waters near Yemen.The Red Sea is linked to the Mediterranean by the Suez Canal…

Oil prices were little changed on Tuesday as investors eyed the impact on oil supply after attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.Brent crude futures rose 6 cents to $78.01 a barrel at 0726 GMT. The front-month U.S. West Texas Intermediate crude futures contract , which expires on Tuesday, fell 18 cents to $72.29 a barrel. The more active second-month contract dropped 10 cents, or 0.1%…

The disruption to energy flows in the Red Sea is unlikely to have large effects on crude oil and liquefied natural gas (LNG) prices as vessel redirection opportunities imply that production should not be directly affected, Goldman Sachs said.Oil prices advanced on Tuesday, extending gains from the previous session, as attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.Oil major BP temporarily paused all transits through the Red Sea and oil tanker group Frontline FRO.OL said on Monday its vessels would avoid

Throughput in the port of Rotterdam, Europe's largest sea port, fell 1.5% in the first quarter as high inflation slowed down container traffic, the port's operator said on Monday."Especially in the container segment, we faced a decline in volumes due to high inflation and a weakening economy," port CEO Allard Castelein said in a statement."Results in the other segments mainly show growth and confirm that dependence on Russian energy flows has been further reduced in line with…

Port of Toulon, which handles over 1.6 million ferry and cruise passengers annually, has committed to ABB Shore Connection technology at a key stage in its sustainability drive.With around 1,300 yearly calls from ferries and cruise vessels right in the heart of the city, the port of Toulon plays an important role in developing the attractiveness of the region for business and tourists. The port is also central to the “Zero-smoke stopovers” plan by the region of Provence-Alpes-Côte d'Azur (Région Sud PACA)…

U.S. exports of liquefied natural gas (LNG) to China, Japan, and South Korea, the biggest importers of the fuel, have surged to record highs in recent months as the heavily industrialized region recovers from the COVID-19 pandemic, Eikon trade data shows.As with the ramp-up of U.S. oil exports that forced heavyweights like Saudi Arabia to find other buyers, what was dubbed Freedom Gas by the administration of President Donald Trump is also changing global energy flows and quietly gaining a stranglehold on key markets in Asia.Such is the speed of growth of imports into Japan, the U.S.

Finnish marine equipment and technology provider Wärtsilä has won a contract to deliver an integrated hybrid propulsion solution for three new Misje Rederi bulk carriers. Wärtsilä said its extensive experience in marine hybrid propulsion solutions "will enable a greatly decreased emissions footprint for three newbuild eco-friendly 5,000 dwt bulk carriers." The 90 meters long ships are being built at the Colombo Dockyard in Sri Lanka for Misje Eco Bulk, a unit of Norway based Misje Rederi group.

Worsening diplomatic relations between the United States and China are putting a spotlight on their economic inter-dependency in the context of global supply chains for both technology and energy.Top policymakers in the United States and some of its closest allies, including Australia and Britain, have recently hardened the language in which they describe relations with China.China has been labelled a “strategic competitor” for some time but the country is increasingly described as a “strategic adversary” implying a more confrontational relationship.Complaints about unfair trade practices…

Japan received its first shipment of liquefied natural gas (LNG) on Monday from Dominion Energy Inc's newly completed Cove Point export plant, the beginning of a jump in imports from the United States by the world's biggest buyer of the fuel.The docking of the tanker LNG Sakura at Tokyo Gas Co's Negishi terminal near Tokyo is another marker of shifting global energy flows as the United States ramps up exports of gas and oil from shale formations.The cargo is the first of 2.2 million tonnes of LNG a year Japanese companies are purchasing under long-term contracts from Cove Point in Maryland. A ramp-up of purchases now by Japan may draw…

Royston Diesel Power has doubled the size of its UK engineering facilities to support continuing global growth in its marine engine service business and new technology development. As part of a £500,000 ($676,000) investment program the company has opened an additional 15,000 sq. ft. of engineering workshop premises alongside its existing headquarters on the banks of the River Tyne. As well as increasing the company’s engine repair and maintenance capability, the new center will also provide a focus for a range of other technical support functions.

Following a successful Network Innovation Competition bid in 2015, DNV GL has secured innovation funding from SGN to partner in a project to demonstrate the viability and practical reality of a mixed-source, energy-centric gas network for the future. The project was developed, and will be delivered, in partnership with SGN who are one of the UK's key gas distribution operators, and industry leaders in innovation. The integrated energy network of the future must be flexible, secure, cost effective and above all safe. The changing gas industry, driven by a reduced North Sea supply is increasingly required to accommodate gas from more diverse sources such as biomethane and shale gas.

UK-based Royston Diesel Power has secured funding support from Innovate UK, the UK’s innovation agency, for its flagship $2.2 million Managing Energy on Marine Vessels technology program. The program aims to develop a new system for whole-vessel energy monitoring and usage, ensuring on board systems are operating at optimum performance and within environmental best practice. The project is being conducted in collaboration with Newcastle University’s School of Marine Science &…

Hybrid marine power and propulsion systems for workboats isn’t farfetched. In fact, it may be essential. In 2015, two significant developments are going to make many operators, owners and builders of professional vessels consider hybrid marine power. The new emissions laws – here and abroad – and the incentives for high technology manufacturers to invest in developing highly efficient batteries are the primary drivers. That said; dramatically reducing pollution in both water and…

Wärtsilä announced that it will launch its new Low Loss Hybrid (LLH) innovation at the ONS 2014 exhibition being held in Stavanger, Norway from August 25 to 28. The Wärtsilä LLH utilizes different power sources in combination with energy storage devices to operate the prime movers closest to their optimum performance. In addition to annual fuel savings of up to 15 percent, depending on the type and configuration of the engine and mission profile, the LLH ensures a substantial reduction in exhaust gas emissions, the manufacturer said.

North America is at the forefront of a game-changing transformation in oil and gas production claims International Energy Agency publication. This year’s World Energy Outlook published by IEA finds that the extraordinary growth in oil and natural gas output in the United States will mean a sea-change in global energy flows. In the New Policies Scenario, the WEO’s central scenario, the United States becomes a net exporter of natural gas by 2020 and is almost self-sufficient in energy, in net terms, by 2035. North America emerges as a net oil exporter, accelerating the switch in direction of international oil trade, with almost 90% of Middle Eastern oil exports being drawn to Asia by 2035.

From Australia to Alaska, world energy producers carried on as usual on Jan. 1, with strategic oil and gas flows uninterrupted by the much-feared Y2K bug. Oil-consuming nations breathed a sigh of relief after potential trouble spots Iraq and Russia and key OPEC powers in the Gulf, Africa and Latin America passed an uneventful night. The IEA and the U.S. Department of Energy said there was no need to release emergency stockpiles of oil they had readied in case computer bugs caused a shortfall of energy supplies. The nearest the computer-dependent international energy system came to a hint of a problem was an adjustment made by Turkey on the monitoring system on an Iraqi oil pipeline.

The Y2K bug remained to be less than a threat last Tuesday as London rejoined the working world after the New Year break, but more traditional worries about interest rates quickly deflated markets. From Bangkok to Reykjavik, bourses reported smooth trading without a millennium bug in sight. In a rare exception to the rule, six companies listed on Turkey's Istanbul stock exchange reported Y2K-related problems. They were suspended from trading but all later said they had fixed the problem or were taking steps to correct it. The West African state of Mali also reported that monitoring of its railway system had been disrupted by computer problems.