Jindal News

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

Five Russia-bound containers from India's Jindal Stainless Ltd (JSL) have been stuck at the Belgian port of Antwerp for around a year, unable to enter the European Union, the company said on Friday."The containers are carrying around 100 metric tonnes of stainless steel," a company spokesperson said.The containers were sent in February 2022 for shipment via Antwerp, but were held up because of EU sanctions imposed on Russia after it invaded Ukraine the same month.JSL's spokesperson said the stainless steel was not among the goods on the EU's sanctions list, and should be cleared for onward tra

India's coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand, rising supply from new mines and strong demand for imports."King coal is coming back and coming with a big bang," Anil Kumar Jha, the chairman of Jindal Power Ltd., told the Coaltrans India conference, held this week for the first time since February 2020.The sentiment was echoed by virtually every speaker at the event, although there was a wide variety of views as to how successful India will be at ramping up coal domestic coal output…

U.S.-based offshore support vessel provider Hornbeck Offshore Services said Friday it had completed its reorganization and emerged from Chapter 11 Bankruptcy.The company had in April struck a comprehensive balance sheet restructuring support agreement with its lenders, to be implemented through a prepackaged chapter 11 filing in May in the Southern District of Texas.Hornbeck, which provides offshore services in the Gulf of Mexico and Latin America, said Friday that it had on September 4, 2020, emerged from Chapter 11 under its previously announced reorganization plan.Todd M.

Global LNG imports rose by 20 percent in 2017; new demand emerges across South, Southeast Asia. Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic metres (bcm) a month. Growth accelerated in 2017, with imports up by a fifth, largely due to China, but also South Korea and Japan. Asia's LNG market has been glutted since 2015, following massive development that began in the early 2000s.

Former Louisiana state official Scott A. Angelle will head-up the U.S. Bureau of Safety and Environmental Enforcement (BSEE). Angelle, who most recently served as Vice Chairman of the Louisiana Public Service Commission, will assume his new position May 23. “Scott Angelle brings a wealth of experience to BSEE, having spent many years working for the safe and efficient energy production of both Louisiana’s and our country’s offshore resources,” Secretary of the Interior Ryan Zinke said.

JSW Group will invest INR 7,000 crore (USD 1.1bln) more in the ports sector over next three years to create assets in the country as well as abroad, PTI reported. The company is also looking at diluting up to 15 percent stake in the ports operating company, JSW Infrastructure, to a private equity player soon, and take it public by 2019. JSW Infrastructure Ltd (JSWIL), a 100% subsidiary of Sajjan Jindal led-JSW Group, has  also drawn up a master plan to develop its Jaigarh Port in Konkan as one of India’s biggest ports that could receive big bulk carriers, LNG, LPG and oil tankers. At the company level, total capacity target is 200 mtpa by 2020, Jindal said and added that the port now handles dry bulk cargo but has plans to enter container handling.

Paradip Port has achieved a record discharge of 62,730 MT of coking coal for a conventional berth in a time-frame of 24 hours overcoming its previous high of 55,337, MT. Located at 210 nautical miles south of Kolkata and 260 nautical miles north of Visakhapatnam on the east coast of India in the Odisha state on the shore of Bay of Bengal, the port had berthed MV Pacific Energy at CQ1 carrying 87,551 MT coking coal for Jindal Power and Steel Ltd on January 5 at 1536 hours after the vessel arrived on January 4. According to industry sources close to the development, “If these sort of discharge rates are maintained, Paradip port can consolidate its position as the Number 2 major port in the country and can attract more cargo.

The Board of Commissioners of the Port of New Orleans has elected Mr. Michael W. Kearney chairman. Mr. Kearney represents Orleans Parish and joined the Board in December of 2012 when he was appointed by former Gov. Bobby Jindal. He succeeds Mr. William T. Bergeron, whose term as chairman expired this month. Mr. Bergeron will continue to serve as a commissioner. In addition, the Board elected Mr. Robert R. Barkerding vice chairman and Mr. Laney T. Chouest secretary-treasurer. Mr.

The first ever Maritime India Summit in Mumbai has resulted in attracting investments worth Rs 82,905 crores ($12.5 billion), says the Ministry of Shipping. A total of 141 MoUs and Business Agreements were signed by various players in maritime sector including Major Ports, State Maritime Boards and PSUs like Shipping Corporation of India, Cochin Shipyard Limited, Inland Waterways Authority of India etc. Some of the major Indian companies who have signed agreements include the Adanis, Jindal, Vedanta, ESSAR, and Shapoorji Pallonji Company. One significant MOU signed relates to establishment of a greenfield port at Vadhavan, Maharashtra. Phase I of the project is estimated to cost around Rs 9167 crores.

India has come “under pressure” from Iran to complete the Chabahar Port project, with the lifting of Iranian trade sanctions, reports Hindu Business Line. Acting strategically to China’s repeated attempts to wean away India from Chabahar Port upgradation, India is taking steps to firm up its bilateral negotiations and alliance with Iran. According to highly placed sources, both sides have also arrived at a deadline to complete the talks on LNG terminal. A top official, involved in the talks, has reportedly said that India is under pressure to complete the Chabahar project. It has to be done by the first half of this year. The first phase of the $31-billion Chabahar Port project involves construction and operation of two berths there.

Port of New Orleans' Board of Commissioners Elects William T. Bergeron Chairman; Michael W. Kearney Elected Vice Chair, Robert Barkerding Jr. The Board of Commissioners of the Port of New Orleans today elected William T. Bergeron chairman. Bergeron represents St. Bernard Parish and joined the Board in November of 2012 when he was appointed by Gov. Bobby Jindal. He succeeds Scott H. Cooper, whose term as chairman expired this month. Cooper will continue to serve as a commissioner. In addition, Michael W. Kearney was elected vice chairman and Robert R. Barkerding, Jr. as its secretary-treasurer.

In a swift response to an SOS from a distressed offshore coastal vessel, the Indian Navy and Indian coast guard rescued 14 people from the crew of the Indian flag cement carrier ship, MV Coastal Pride, that sunk 75 nautical miles off the coast of Daman, on Wednesday morning. It was after a call by the vessel, Navy and Coast Guard swung into action to rescue 14 crew members of the vessel. What ensued was a dramatic rescue of 14 crew members. "In a swift response to an SOS from a distressed offshore coastal vessel MV Coastal Pride, navy and coast guard swung into action and rescued 14 crew members," said navy spokesperson, Captain DK Sharma was quoted as saying by NDTV.

At about 2300 hrs on 21 Jun 15 a container merchant vessel “Jindal Kamakshi” sent a distress alert. The vessel was on passage from Mundra to Kochi with 20 crew members onboard. The vessel was about 35 kms from the nearest coast and 75 kms from Mumbai. The distress was received by Coast Guard Maritime Rescue Coordination Centre (MRCC Mumbai).MRCC (MBI) immediately contacted the master of the vessel. For ascertaining the emergency onboard. MRCC (MBI) also coordinated with other merchant mariners in the vicinity MV SCI, Samudra Prabha, MV Seamac 1 and MV Kamat to render assistance to the distress vessel. In addition, the other Coast Guard ships were also alerted to provide assistance. The vessel under distress was listing 20 deg but the list was subsequently reduced to 10 deg.

Governor Bobby Jindal and Viking Cruises Chairman Torstein Hagen announced the selection of New Orleans as the homeport for Viking River Cruises’ first North American river cruise itineraries. The Mississippi River cruises will operate from docking facilities near the French Quarter in New Orleans. Viking’s new service will result in the creation of 416 new direct jobs for Louisiana-based operations and vessel crews, with an average salary of $40,000, plus benefits; and Louisiana Economic Development estimates the project will result in an additional 368 new indirect jobs, for a total of more than 780 new jobs in the Southeast Region of the state.

Louisiana Governor Bobby Jindal and Martin Houston, Chairman of Live Oak LNG, has announced a new natural gas liquefaction and export project, up to a $2 billion investment, to be developed in the Calcasieu waterway. The $2 billion plant will be located on the Calcasieu Ship Channel and will create 100 direct jobs and 385 indirect jobs, the governor said. The permanent jobs will pay an average salary of about $75,000. About 1,000 construction workers will be hired. The mid-sized project is being designed for a plant capacity of up to five million tonnes per annum production and will include two 130,000 m3 storage tanks, and port facilities with a jetty for standard size liquefied natural gas (LNG) carriers.

The Lamprell Group delivers its 12th Super 116E jackup drilling unit. Lamprell has announced the completion of construction on the jackup rig Jindal Pioneer and its delivery to Dev Drilling Pte Ltd of Singapore, a D. P. Jindal Group Company. The contract for the Jindal Pioneer rig was signed in January 2013 and this is the second rig with the LeTourneau Super 116E (Enhanced) Class design which Lamprell has delivered to this client. This latest rig has been delivered following the completion of the first rig…

Louisiana Governor Bobby Jindal appointed James "Ray" Barker to the Louisiana Workforce Investment Council. Barker, of Raceland, is the Director of Human Resources at Bollinger Shipyards, Inc. The Louisiana Workforce Investment Council serves to develop a strategic plan to coordinate and integrate a workforce development delivery system to ensure efficiency and cooperation between public and private entities by advising the governor on the needs of Louisiana’s employers and its workforce.

India said on Tuesday it may appeal against parts of a World Trade Organization ruling against countervailing U.S. duties on some of its steel exports, despite being partly vindicated in a trade dispute. States impose countervailing duties, or punitively high import tariffs, when they suspect another country of gaining an unfair trade advantage through subsidies. The WTO, ruling on the April 2012 case, said on Monday that the United States had acted wrongly in claiming some Indian subsidy programmes had given steelmakers such as Tata Steel an unfair advantage. "Important issues have been in our favour but there are still some issues on which we are not happy," India Commerce Secretary Rajeev Kher told reporters. "There are several procedural issues which are in U.S.

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector. The sale of Rio Tinto Coal Mozambique to International Coal Ventures Private Limited (ICVL), includes the Benga coal mine and other projects in Tete province, assets that had a value of $71 million as of March 31 in Rio's books. In 2013, Rio Tinto sacked its chief executive…

India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in 2012 after an auditor's report on revenue loss to the exchequer from allocations of coal blocks. The CBI filed the case against Birla and former Coal Secretary P.C. Parakh last year in relation to a block allocated in 2005 to Hindalco Industries, part of the $40 billion Aditya Birla Groupled by Kumar Mangalam Birla. "The evidence collected during investigation did not substantiate the allegations levelled against the persons named in the FIR (first information report filed in the case)," the CBI said in a statement late on Friday.

Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing shiploads of coal due to a severe shortage at home, leading to heavy congestion in one of the country's busiest ports that now has twice the number of vessels waiting than its available berths. The over-crowding at Paradip port in eastern Odisha could derail India's efforts to prevent a shutdown of more than half of its power plants which are running on stocks of less than a week in the worst deficit since a massive blackout in 2012. While Power and Coal Minister Piyush Goyal has urged power firms to bring more coal into India - already the world's No.

Vessel sales for September 2014 (as of October 1) as prepared by Shipping Intelligence, Inc., New York.