Kongsberg Maritime: Reshaping Underwater Operations
Eelume AS has released the first live video footage of its game changing take on underwater intervention vehicles. With the support of Kongsberg Maritime as a development partner, the unique new Eelume robot has torn up the marine robotics rulebook to create a futuristic, snake-like vehicle designed to live permanently underwater and carry out underwater intervention tasks that would normally require the mobilisation of expensive surface vehicles for divers or to launch and retrieve ROVs or AUVs.
DNV GL Completes Tech Due Diligence for Gaelectric
DNV GL has concluded vendor’s technical due diligence on a portfolio of wind farms totalling around 230 MW. DNV GL successfully completed its vendor’s technical due diligence of a portfolio of Irish wind farms for Gaelectric Holding plc. The portfolio is to be purchased by major Chinese investors CGN Europe Energy. CGN Europe Energy is the European renewable investment arm of China General Nuclear (CGN) Power Group – the group that holds a 33% share of the new £18 billion Hinkley Point C nuclear power station in Somerset, UK.
Lift Boat Crew Rescued in US Gulf
Four crewmembers aboard the lift boat Superior Trust were rescued after the vessel became unstable near Southwest Pass, La., Wednesday. U.S. Coast Guard Sector New Orleans watchstanders received a call early Wednesday morning reporting one of the Superior Trust’s legs failed and made contact with a natural gas platform’s walkway resulting in approximately 10 gallons of oil discharge. Coast Guard Station Venice launched a 45-foot Response Boat-Medium boatcrew that arrived on scene and transported the Superior Trust crew back to shore. There were no reported injuries. Coast Guard Cutter Brant crewmembers later arrived on scene to monitor the lift boat, and Coast Guard Air Station New Orleans MH-65 aircrew conducted an over flight.
INTERTANKO Pans EU ETS Shipping Vote
By majority vote, the Members of the European Parliament have agreed to include shipping in the European Emission Trading Scheme (ETS) Directive as of 2023, unless there is a comparable system agreed under the auspices of the International Maritime Organisation (IMO) by the end of 2021. “INTERTANKO and its Members consider the EU Parliament’s ambition as totally counter-productive,” said INTERTANKO Technical Director Dragos Rauta. The EU Parliament’s move could be perceived as “urging” IMO to accelerate its rule development.
Oversupply Pressure on LPG Shipping Rates
The LPG shipping trade will continue to grow at a healthy pace on the back of strong Asian demand, but fleet growth will outpace it, keeping rates under pressure in 2017, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry. 2016 was a tough year for LPG shipping with rates coming under pressure across all size segments. 2017 is expected to be no different with the fleet set to grow by another 16%, on top of the 17% expansion seen last year.
The Offshore Markets: 2016 In Review
Expectations at the start of the year that 2016 would be a tough one for the oil industry, and in particular for offshore, were on the whole fulfilled, says Clarksons Research report. Overall upstream E&P spending globally fell for the second successive year, and was down by in the region of 27% year-on-year in 2016. Cost-cutting has been a key focus, whether that be through pressure on the supply chain, M&A activity, job cuts or other means. Overall upstream E&P spending globally fell for the second successive year, and was down by in the region of 27% year-on-year in 2016. Cost-cutting has been a key focus, whether that be through pressure on the supply chain, M&A activity, job cuts or other means.
First Purpose-built LNG Bunkering Vessel Delivered
ENGIE, Fluxys, Mitsubishi Corporation, and NYK have taken delivery of the world’s first purpose built liquefied natural gas bunkering vessel (LBV) from Hanjin Heavy Industries & Construction Co. Ltd., at the Yeongdo shipyard in Busan, Korea. She will run on LNG for her maiden voyage, after a few days of loading LNG delivered by trucks at the shipyard. Zeebrugge in Belgium will be the home port of the vessel, which has been named ENGIE Zeebrugge accordingly. From there, the 5,000 m3 LNG capacity LBV will supply LNG as a marine fuel to ships operating in Northern Europe.
Gulf Navigation on Recovery Path
Dubai-based shipper Gulf Navigation announced its best annual results for eight years, on account of the improvement in spot tanker rates and the reclassification of liabilities. In a statement, the company said it had benefitted from ‘strong and consistent financial turnaround and transformation’. It has reported net annual earnings of AED 136.6m ($37.2m), against AED 20.2m in 2015. Profits for the fourth quarter hit Dh5.4m, compared with Dh4.5m a year earlier. “Further improvement…
Shell, Pavilion Gas to Supply Singapore with LNG
Shell and Pavilion Gas will start supplying Singapore with liquefied natural gas (LNG) later in 2017 under contracts awarded last year, the city-state's trade minister said on Tuesday. "We will also allow interested parties to import spot LNG in the second half of 2017, up to 10 percent of the total gas imports in Singapore," said S Iswaran. Reporting by Mark Tay
ExxonMobil inks patent agreement with Pason Systems
ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimization. Fast Drill combines high-end modeling of drilling physics with structured well planning and design to identify limiters and maximize performance.
BHP Billiton Okay $2.2 bln Investments in Gulf of Mexico
BHP Billiton has announced that the Board has approved expenditure of US$2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico. BHP Billiton holds a 23.9 per cent participating interest in the Mad Dog field. BP, the operator, holds a 60.5 per cent participating interest, and Union Oil Company of California, an affiliate of Chevron U.S.A. Inc., holds the remaining 15.6 per cent participating interest. During the fourth quarter of 2016, BP sanctioned the Mad Dog Phase 2 project.
Eighth Lamprell Rig for NDC
Lamprell announces the completion of construction on a further jackup drilling rig, the “Al Hudairiyat”, and its delivery to Abu Dhabi’s National Drilling Company (“NDC”), within budget and as scheduled. Completion and delivery of the jackup rig was marked at an inauguration ceremony held at Lamprell’s Hamriyah facility in the U.A.E. yesterday. The rig was completed to the highest standards of quality using the latest in drilling system technology from our suppliers and will depart the facility in Q1 en route to its drilling location in Abu Dhabi.
VBMS awarded EnBW Hohe See cabling contract
Royal Boskalis Westminster N.V. (Boskalis) announces that its subsidiary VBMS has been awarded an inter-array cabling contract with a value of approximately EUR 80 million by EnBW Hohe See GmbH & Co.KG for the 500 MW EnBW Hohe See Offshore Wind Farm. The contract includes the supply, installation and burial as well as termination and testing of seventy nine (79) 33kV inter-array cables. The project execution will commence in 2017 with cable installation activities scheduled for 2018 and 2019.
ELA Offshore Develops New Type of Container
Offshore managed to deliver all required containers from scratch in only 3 months from project kick-off, including design and development up to turnkey delivery on an offshore converter station in the German North Sea. “To come up with the best suitable container type, especially for Offshore Windfarms, we sat together with our customer, DNVGL and German authorities, who are responsible for the German “Arbeitsstättenrichtlinien (ASR)”, to create a new generation of container type”, says Hans Gatzemeier, Managing Director of ELA Container Offshore GmbH.
CWind Invests in Largest Crew Transfer Vessel to Date
CWind, a provider of services to the offshore wind industry, has announced that it has invested in the company’s largest crew transfer vessel to date. Newly named as CWind Phantom, the 27.4m catamaran can hold 20,000 litres of fuel and has a 20 ton cargo capacity, making her suitable for longer stretches of work at wind farms located further from shore. This investment demonstrates the company’s ability to evolve with the changing market. CWind’s fleet now totals 18, with access to additional cable installation and maintenance vessels via CWind’s parent company, Global Marine Systems Limited.
Hanjin Heavy Delivers Purpose-Built LNG Bunkering Vessel
ENGIE, Fluxys, Mitsubishi Corporation, and NYK have taken delivery of the world’s first purpose built liquefied natural gas bunkering vessel (LBV) from Hanjin Heavy Industries & Construction Co. Ltd., at the Yeongdo shipyard in Busan, Korea. She will run on LNG for her maiden voyage, after a few days of loading LNG delivered by trucks at the shipyard. Zeebrugge in Belgium will be the home port of the vessel, which has been named ENGIE Zeebrugge accordingly. From there, the 5,000 m3 LNG capacity LBV will supply LNG as a marine fuel to ships operating in Northern Europe.
Wärtsilä, PGS ink Service Deal
Wärtsilä and PGS Geophysical AS have signed a service agreement that makes Wärtsilä the preferred service supplier for engines and other Wärtsilä equipment. According to the agreement, Wärtsilä will take care of the maintenance of engines and propulsion systems on board PGS's fleet of 8 seismic vessels, securing maximum uptime as well as safe and economic operations. PGS's seismic vessels are used for mapping and analysing the subsurface beneath the ocean floor for oil and gas exploration around the world.
Kongsberg K-Walk for Olympic Orion MPSV
Olympic Shipping has chosen Kongsberg Maritime’s new K-Walk integrated vessel gangway solution for installation aboard the Multipurpose Offshore Vessel (MPSV), Olympic Orion. Designed to significantly increase efficiency and safety for Walk-to-Work duties, K-Walk will be integrated with the advanced Kongsberg Information Management System (K-IMS) and the existing K-Pos Dynamic Positioning system on board Olympic Orion, which will be upgraded as part of the installation in the latter half of 2017.
MV FlatHolm Gets Busy at Galloper OWF
Lowestoft based multipurpose vessel MV FlatHolm finished off a busy year in 2016 with a successful charter to James Fisher Marine Services Ltd, undertaking a variety of service activities in connection with the Galloper Offshore Wind Farm during November and December. The Galloper project was busy, last year, with turbine foundation preparation and MV FlatHolm provided daily cover, making sure the site was clear and checking for hazards and obstructions which might have hindered operations with the scour protection rock placement work.
Statoil Awards ERRV Contracts
Statoil awards Simon Møkster Shipping AS contracts for three emergency response and rescue vessels (ERRV), and Havila Shipping ASA for one ERRV. The contacts have a total value, included options, of NOK 2.7 billion. The vessels will be part of Statoil’s area-wide emergency response on the Norwegian continental shelf (NCS). The emergency response vessels play an important role in addressing government authorities’ and the company’s own requirements for rescue, hospital, fire-fighting, emergency towing and oil spill preparedness.
Higher Profits for MISC
Liquefied natural gas (LNG) shipping company has released its financial results for the year ended 31st December 2016 which show Group revenue for the quarter and the year were low than the corresponding periods for 2015. Group profit before tax for the quarter ended 31st December 2016 was lower than the corresponding quarter ended 31st December 2015 but Group profit before tax for the year ended 31st December 2016 was higher than the year ended 31st December 2015. Group revenue for the quarter ended 31st December 2016 of RM2…
US Drillers Continue to Add Oil Rigs
U.S. energy companies added oil rigs for a 14th week in the last 15, extending a nine-month recovery as drillers take advantage of crude prices that have held mostly over $50 a barrel since OPEC agreed to cut supplies in late November. Drillers added eight oil rigs in the week to Feb. 10, bringing the total count up to 591, the most since October 2015, energy services firm Baker Hughes Inc said on Friday. During the same week a year ago, there were 439 active oil rigs. Since crude prices first topped $50 a barrel in May after recovering from 13-year lows last February, drillers have added a total of 275 oil rigs in 33 of the past 37 weeks, the biggest recovery in rigs since a global oil glut crushed the market over two years starting in mid 2014.
Suitability Survey Completed for Second Largest Semi-Submersible
Global Maritime Consultancy & Engineering, a provider of offshore marine warranty, dynamic positioning and engineering services, has completed a suitability survey for the world’s second largest semi-submersible - the ‘Xin Guang Hua’ - in advance of her maiden voyage. For the survey, Global Maritime carried out an independent assessment of all aspects of the vessel’s condition. The Xin Guang Hua - at 255 meters long, 68 meters wide and with a lift/transportation capacity of 98,000 tons - has been built by Guangzhou Shipyard International Company and is owned by Cosco Shipping.
Prosafe Taps Andresen as CEO
Semi-submersible accommodation vessels owner and operator Prosafe has made several changes to its management team. Jesper Kragh Andresen was appointed as Chief Executive Officer (CEO), and Stig H. Christiansen as Deputy CEO and Chief Financial Officer (CFO) of Prosafe Management AS. Georgina Georgiou will continue as General Manager of the parent company Prosafe SE. From 2012 and until recently, Andresen was CEO in Axis Offshore. Prior to this he was President of Lauritzen Offshore and Managing Director of J. Lauritzen Singapore.
Global Study into use of Wind, Solar Power on Ships
In co-operation with several shipping companies and technology partners, Eco Marine Power (EMP)has begun a detailed study focused on the practical applications of its patented EnergySail and Aquarius MRE technologies. The study will cover the engineering aspects of installing an EnergySail or Aquarius MRE based solution on a variety of ships and the expected Fuel Oil Consumption (FOC) and CO2 savings that can be achieved in an operational environment. Energy storage options will also be studied including the possible use of fuel cells.
MOL Group Expands its Exploration Portfolio
MOL Group expanded its exploration portfolio by acquiring new licenses in Hungary and Norway. MOL acquired 6 new licences in the 4th bid round in Hungary, doubling its exploration acreage in the country. MOL Norge participated in the latest APA licensing round and acquired 4 licences in the Norwegian Continental Shelf, one of which with operatorship. These successes significantly contribute to the implementation of the MOL 2030 strategy. MOL has won 6 new licences in the fourth…
Louis Dreyfus Orders Wind Farm Vessel from Cemre
Louis Dreyfus Armateurs Group (LDA) said it has ordered a wind farm service operation vessel (SOV) from Cemre shipyard in Turkey. The vessel will be delivered in Q4 2018 and chartered to DONG Energy Wind Power A/S for operations at four wind farms off the German coast (Borkum Riffgrund 1&2, Gode Wind 1&2). The vessel has been designed in cooperation with Salt Ship Design to enable technicians to perform maintenance on wind turbines. The ship has an accommodation capacity of a minimum of 60 technicians (in addition to the crew)…
Two Offshore Vessels Join DOF Fleet
The DOF Group said a Norwegian limited company not owned by DOF has signed an agreement with Olympic Shipping to purchase two vessels, Olympic Commander and Olympic Hera. DOF and the new owner have entered into an agreement for management and operation of the two vessels, and DOF has an option to purchase the vessels at a price corresponding to the outstanding debt or approximately 50-60 percent of historical build costs. In a statement, DOF Group CEO Mons S. The subsea vessel Olympic Commander will be renamed Skandi Darwin…
SBM Offshore Raises Dividend
Dutch oil-ship lessor SBM Offshore's full-year core profit (EBITDA) jumped 67 percent, driven by growth in its Lease and Operate business, the company said on Wednesday. SBM, which has been seeking a settlement after being accused of paying bribes to executives of state-controlled oil company Petrobras, reported an EBITDA of $772 million for 2016. Revenue fell 16 percent to $2.27 billion. Analysts polled by Reuters had on average expected revenue of $2.06 billion and EBITDA of $729 million. The company also raised its dividend by 10 percent to $0.23 per share, beating analysts' expectations.
GTT Receives Order to Equip a New FSRU
GTT has received an order from Daewoo Shipbuilding & Marine Engineering (DSME) to equip a floating storage and regasification unit (FSRU) with its NO96 cryogenic membrane containment system. The vessel will be built at DSME's shipyard in Geoje, Korea, on behalf of Maran Gas Maritime, a Greek management company. This 173,400 m3 vessel will be the first FSRU to be added to the Maran Gas Maritime fleet. Delivery is scheduled for 2020. The global FSRU market consists of 24 units currently in service. It is a very dynamic segment particularly well suited for new importing countries for which FSRUs constitute an economic alternative and a flexible solution.
Weather Halts North West Shelf Liftings
Loading of cargoes from Australia's North West Shelf (NWS) liquefied natural gas (LNG) and condensate project has been halted due to adverse weather, traders with direct knowledge of the matter said on Wednesday. It remains unclear when cargo loadings at the port of Dampier will resume, said one person familiar with the matter who is facing loading delays for a cargo of NWS condensate. In an emailed statement, Pilbara Ports Authority - which manages ports in the area - said LNG cargo loadings are likely to have stopped "as at the ports of Ashburton and Dampier, the ports and anchorages continue to remain clear of vessels". The NWS project is operated by Australian firm Woodside Petroleum.
Sound Energy: Badile Rig Contract - Payment using Equity
Sound Energy, the African and European focused upstream gas company, announced on 29 November 2016, that the terms of the contract for the use of Pergemine S.p.A ("Pergemine") 3000 HP EMSCO C3 rig for the drilling of the Badile exploration well (the "Rig"), provided that payment of 23% of the service charges due to Pergemine would be settled through the issue of new ordinary shares in the Company ("Ordinary Shares") with a value of approximately Euro 1 million. Following the mobilisation of the Rig in January 2017…
Skarfjell becomes tie-back to Gjøa
DEA and its partners in PL418 have selected a subsea tie-back to the Gjøa platform as the concept for development of the Skarfjell discovery in the Norwegian North Sea. This alternative is an enabler for developing the Gjøa platform as a stronger hub in the area and maximising recovery for Gjøa, Skarfjell and the area in general. Skarfjell is situated in the northeastern North Sea, approximately 20 kilometers southwest of the Gjøa platform. DEA is partner in Gjoa, with a share of 8%.
Malaysian Oil Sector Rebalances Portfolios
New research by DNV GL, the technical advisor to the oil and gas industry, has revealed that confidence in growth in the Malaysian oil and gas sector has tumbled since 2014, from 96% to 21%, with tough, short-term, cost-cutting efforts expected to increase in 2017. Diversification will be a hallmark of 2017, with 49% of those surveyed looking to increase investment in, or diversify into, areas beyond oil and gas. Thirty-seven per cent of senior oil and gas professionals in Malaysia are actively looking for new gas projects as a result of falling oil prices, compared to 31% globally.
Singapore Wants New Gas Projects
New research by DNV GL, the technical advisor to the oil and gas industry, has revealed that more oil and gas professionals in Singapore (46%) than globally (31%) are looking for new gas projects. Nearly nine out of ten respondents (87%) believe that gas will become an increasingly important component in the global energy mix in the next ten years – ten percentage points higher than the global average. Short-term agility, long-term resilience is DNV GL’s seventh annual benchmark study on the outlook for the oil and gas industry…
Two New Builds Delivered to Subsea 7
Offshore engineering, construction and services company Subsea 7 said it has taken delivery two new builds: a heavy construction flex-lay vessel Seven Arctic and dive support vessel Seven Kestrel, completing its substantial fleet investment program that has added six newly constructed vessels to its fleet since 2014. Designed to meet the demands of deep water and harsh environments, including both tropical and winter conditions, Lloyd's Register classed Seven Arctic is capable of working at depths of 3…
New Heavy Lift Jack-up Vessel Design
SeaOwls and Ulstein launched a new heavy lift jack-up vessel design, the SOUL, at the Offshore Wind Journal Conference on February 7. According to the designers, the cruciform structural lay-out makes the patent-pending solution more than 10 percent lighter than conventional jack-up vessel designs. In combination with a high capacity crane, SOUL enables operators to take the next step in developing offshore wind farms. The concept aims to install the next generation wind turbines (10-12 MW) in the same time frame as currently used for installing 6-8 MW units…
Containerized Living Quarters Delivered to MV Omalius
ELA Container Offshore GmbH said it has delivered two offshore living quarters to Belgium based G-Tec Offshore s.a. The containers were placed on board of the multipurpose drilling vessel MV Omalius off the coast of France. The solution on deck turned out to be very successful as the units have also been used for other projects since then. Currently the MV Omalius is working in the construction phase of the Merkur wind farm, located approximately 45km north of the islands of Borkum, Germany where GeoSea, Belgian Deme Group’s ’s specialist will realize the construction of Merkur Offshore.
Keppel Delivers FPSO for Brazil
Keppel Offshore & Marine’s shipyard in Brazil, BrasFELS, has delivered P-66, the first of the Replicante series of floating production storage and offloading (FPSO) units, to Tupi BV. Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly owned subsidiary, Keppel FELS Brasil SA's BrasFELS shipyard, has delivered the FPSO P-66 to Tupi BV (a consortium formed by Petróleo Brasileiro S.A. - Petrobras, operator with 65 percent; BG E&P Brasil - a subsidiary of Royal Dutch Shell plc, with 25 percent; and Petrogal Brasil with 10 percent), which is represented by Petrobras. P-66 departed the shipyard on February 4, 2017 to be deployed in the Lula Sul field, Santos Basin, Brazil. BrasFELS was engaged for two Replicante projects, P-66 and P-69.
Petrobras:P-66 leaves shipyard for Lula field
On Saturday (February 4), the floating production, storage and offloading vessel (FPSO) P-66 left the Brasfels shipyard in Angra dos Reis, Rio de Janeiro. It is now heading to the Lula Sul module in the Lula field, Santos Basin pre-salt, where it is expected to arrive in the next few days. The production system will come online after the vessel has been moored and the first production well has been connected. P-66 is the Lula Consortium’s first FPSO to be deployed in the Santos Basin pre-salt. It was assembled at the Brasfels shipyard in Angra dos Reis, where the equipment and systems were also tested. The FPSO will separate the oil from the gas and water during the production process, storing it in tanks, and finally transferring it into oil tankers, which will then transport it.
Australian Energy Firms to Rebalance their Portfolios: DNV GL
New research by DNV GL, the technical advisor to the oil and gas industry, shows oil and gas companies in Australia are seeking to rebalance their business portfolios and reorganize for a new era. In a period of drawn-out recovery, 45% of senior oil and gas professionals surveyed expect their business to diversify into, or invest more in, opportunities outside of oil and gas. Still, 85% believe gas will become an increasingly important component of the global energy mix over the next 10 years.
China Overview: Gas Expansion to Secure Sustainable Growth
New research by DNV GL, the technical advisor to the oil and gas industry, reveals that confidence in oil and gas sector growth in China in 2017 has fallen sharply from 61% last year to 23% - lower than global opinion (32%). Chinese respondents are also less confident about their organization’s prospects, profits and revenue. However, the research also shows that Chinese companies are rebalancing business portfolios and reorganizing for a new era where gas will be an important part of the energy mix.
Panama Canal Sets Monthly Tonnage Record
In January 2017, the Panama Canal set a new monthly tonnage record of 36.1 million Panama Canal tons (PC/UMS), with the transit of 1,260 ships through both the Expanded and original locks. The previous record was established the month prior, in December 2016, when 1,166 ships transited the waterway for a total of 35.4 million PC/UMS. “This increase reiterates the importance of the Expanded Canal, and it's further proof of the maritime industry’s continued confidence in the Panama Canal and the impact it will have on the future of global trade,” said the Panama Canal Administrator Jorge L.
GTT Receives Order to Equip FSRU
GTT said it has received an order from Samsung Heavy Industries (SHI) to equip a floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. The new order also includes three optional FSRUs. The vessels will be built at SHI's shipyards in South Korea, on behalf of Höegh LNG Holdings Ltd., with delivery of the first vessel scheduled for May 2019. Each FSRU will have a storage capacity of 170,000 m3 and a regasification capacity of 750 MMscf/day. Currently six regasification vessels built by SHI and equipped with the GTT technologies are in service and two are in order.
Diamond Offshore Sees Recovery when Oil 'Well over $60'
Rig contractor Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said on Monday oil prices needed to be "well over $60" to spur a recovery in offshore drilling. The company's shares reversed course and were down 2.3 percent at $16.67, with investors shrugging off a beat on quarterly profit and revenue. Global benchmark Brent crude prices have stabilized after a more than two-year slump, with prices hovering around $55 per barrel. "Offshore drilling is cyclical in nature…
Norwegian OSV Operators in Blockbuster Merger
Debt-laden Farstad Shipping gets lifeline; billionaires Fredriksen and Roekke join forces. Hit by the oil industry recession, Norwegian offshore service vessel (OSV) operators Farstad Shipping, Deep Sea Supply and Solstad Offshore announced plans to merge on Monday to counter the downturn. Under the deal Farstad is to complete a financial restructuring via a debt-for-equity swap and new share issue, and will then be merged with Deep Sea Supply and Solstad Offshore, controlled by Norwegian billionaires John Fredriksen and Kjell Inge Roekke respectively.
Bernhard Schulte, Babcock Team-up to develop GSV Vessel
Bernhard Schulte Shipmanagement (BSM), a leading global maritime services company, and Babcock International Group, the UK’s leading engineering support services company, are collaborating to develop a ground-breaking Gas Supply Vessel (GSV). The 7,500m³ vessel, which will be used for the LNG fuelling of ships, including ferries, containers, cruise vessels and other shore-based gas consumers in the Baltic Sea, is the first vessel of its kind to utilise Babcock’s market leading FGSV0 technology.
Nakilat assumes Management of Al Dafna
Nakilat has assumed full ship management and operations of Q-Max LNG carrier Al Dafna from STASCo (Shell Trading and Shipping Company Ltd.) with effect from 2 February 2017, as part of the planned and phased transition announced on 19th October 2016. With a cargo carrying capacity of 266,366 cubic meters, Al Dafna is wholly-owned by Nakilat and chartered by RasGas. The vessel built in South Korea by Samsung Heavy Industries was delivered in October 2009 and has been in service ever since. Al Dafna is the fifth Q-Max LNG vessel that will come under the management of Nakilat Shipping Qatar Ltd.
Singapore LNG Market to Grow at 10.39% Through 2025
The market for LNG in Singapore is projected to grow at a CAGR 10.39% during 2016-2025, due to the push from Singapore government towards adoption of cleaner energy sources, capacity addition of natural gas / LNG based power plants and emergence of Singapore as a regional trading hub for LNG in Asia-Pacific. "Growing demand from power generation sector, favorable LNG prices and government initiatives to setup Singapore as LNG hub is expected to drive Singapore LNG market," says the report by TechSci Research. Pavilion Energy, a wholly owned subsidiary of Pavilion Gas Pte Ltd.
Keppel to Deliver First FPSO of 2017
Keppel Offshore & Marine subsidiary Keppel Shipyard Ltd is on track to deliver a floating production storage and offloading (FPSO) vessel to Yinson Production (West Africa) Pte Ltd (Yinson), a subsidiary of Yinson Holdings Berhad, marking the first FPSO delivery of 2017. The spread-moored FPSO unit was named John Agyekum Kufuor during a naming ceremony held at Keppel Shipyard this morning. It will be chartered by ENI Ghana Exploration & Production Limited (ENI Ghana) to process oil and gas from the Offshore Cape Three Points (OCTP) block located in Offshore Ghana. Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said…
Keppel Shipyard to deliver FPSO
Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard) is on track to deliver a Floating Production Storage and Offloading (FPSO) vessel to Yinson Production (West Africa) Pte Ltd (Yinson), a wholly-owned subsidiary of Yinson Holdings Berhad, safely, on time and on budget. The spread-moored FPSO unit was named John Agyekum Kufuor during a naming ceremony held at Keppel Shipyard this morning. It will be chartered by ENI Ghana Exploration…
Egypt LNG Market to Reach 4.5 MMT by 2025
LNG market in Egypt is projected to surpass 4.5 MMT by 2025, due to rising demand from power and industrial sectors in the country, says TechSci Research report. Production of dry natural gas in Egypt declined at a CAGR of 7.17% during 2011-2015. Thus, imports of LNG in the country increased during 2011-2015, and this trend is further anticipated to continue during the forecast period as well. Ministry of Electricity announced capacity addition of 2.25 GW in August 2016, with an investment of USD2.2 billion.
Indian LNG Import Tax Halved
India, the world’s fourth-largest buyer of liquefied natural gas (LNG), has announced plans to halve its basic customs duty on imports of the chilled fuel. Indian Finance Minister Arun Jaitley presenting the Budget for 2017-18 in Parliament halved the import duty on LNG to 2.5 per cent, a move that will help cut cost of power and fertiliser production. "Considering the wide range of use of LNG as fuel as well as feed stock for petro-chemicals sector, I propose to reduce the basic customs duty on LNG from 5 per cent to 2.5 per cent," he said.
Excelerate to Develop Second FSRU for Port Qasim
Excelerate Energy will deliver its second floating storage and regasification unit (FSRU) to Pakistan following negotiations with a consortium comprising Engro, Fatima, and Shell. It is expected to be the country's 4th such floating terminal. The FSRU will be based at Port Qasim where Excelerate has had an FSRU, Exquisite, operating since March 2015 chartered to Engro-owned Elengy. Excelerate has a proven track record of successfully delivering fast-track floating regasification…
Reach Subsea Enters Survey Deal for Edda Fonn
Norwegian owner of offshore inspection vessels Reach Subsea has secured a contract for its Edda Fonn vessel. According to Reach Subsea, the contract is for an ROV/survey work covering the next 40 days for Edda Fonn. Commencement will be this week. The details in the contract are confidential. Edda Fonn is a vessel used for IMR, survey and light construction services. The company claims that Edda Fonn is a high quality, cost effective and flexible vessel for IMR, survey and light construction services.
Teekay, GTT Extend Technical Service Agreement
The shipowner Teekay and GTT have recently signed a Technical Service Agreement (TSA) extended with new advisory services. This agreement applies to 23 vessels equipped with the GTT technologies Mark III and NO96. In addition to the assistance and intervention services already included in the standard GTT TSA, Teekay will benefit from the advisory and optimization service HEARS (Hotline Emergency Assistance & Response Service). “Teekay holds one of the major LNG fleets in the world which will reach about 40 vessels by 2019. To assist our clients in the efficient operations of their LNGCs throughout the years, we provide them solutions to fit their new requirements…
Baleària Orders Two Dual Fuel Ferries
Spanish shipping line Baleària said it has reached an agreement with the Italian shipyard Cantiere Navale Visentini to build two dual-fuel sister ferries, measuring 186.5 meters in length and a capacity for 810 people, 2,180 linear meters of cargo and 150 cars. The total investment in these vessels is some 200 million euros (approximately $215 million USD); they are expected to be operational by the end of 2018. The ships will reach speeds of 24 knots thanks to two dual engines with a total power of 20,600 KW.
LNG Imports in Turkey Projected to Reach 9 MMT by 2025
Rising demand from industrial sector, growing use for power generation and declining average landed prices to drive demand for LNG in Turkey through 2025, says TechSci Research report on Turkey LNG Market. LNG Imports in the country is projected to surpass 9 MMT by 2025. Increasing application of LNG in industrial sector for manufacturing of glass, ceramics, fertilizer, cement and steel, coupled with rising mining activity for chrome and copper are the major factors driving demand for LNG in Turkey.
Swedish Town Karlshamn Says 'Yes' to Gazprom Port Deal
Officials in Karlshamn in southern Sweden will allow Russia's Gazprom to use the city's port for the construction of its Nord Stream 2 gas pipeline after the government dropped its objections, the municipality said on Tuesday. The government had earlier expressed concerns about Gazprom's plans to use the port, but said on Monday the project did not threaten defense interests. Late last year, the island of Gotland rejected a similar deal to support the construction of the pipeline after the government expressed worries about national security. Both the Baltic Sea harbours at Karlshamn and Slite, Gotland, are situated in strategically sensitive areas, with Karlshamn around 50 kilometres from the large naval base at Karlskrona.
Video: LNG-powered Dredger Scheldt River Launched
DEME Group’s second LNG-powered trailing suction hopper dredger (TSHD) Scheldt River is part of a new generation of dual fuel hoppers that set out to achieve new standards in environmental performance. Launched January 14 at Royal IHC's shipyard in Krimpen aan den IJssel, The Netherlands, the 7,950m3 vessel possesses a number of innovative features and technologies, including an IHC-patented two-speed gearbox as well as a newly developed wing-shaped bow thruster tunnel. A video showing the construction process and launching is available here.
Lloyd’s Register Sets Its Sights Subsea
Eying a subsea sector rebound, Lloyd’s Register (LR) aims to bring its expertise to underwater operations in offshore oil and gas as well as wind farm power generation and submarine cable markets. The provider of integrity, compliance and specialist risk consulting services has launched Subsea Inspection Services, which it said will support underwater inspections of subsea pipelines, assets and facilities to energy companies operating offshore. Managed and coordinated in Aberdeen…
Bibby Topaz Charter Extension
Bibby Offshore, provider of subsea installation and services to the offshore oil and gas industry, said it has secured a long-term extension to the charter of its dive-support vessel (DSV) Bibby Topaz, owned by Volstad Maritime. The terms and conditions of the extended charter arrangement have been adjusted to reflect the current market environment. According to Bibby Offshore, the charter extension allows it to maintain and grow the group’s market share in the North Sea DSV market.
SCF's New Icebreaker Named Gennadiy Nevelskoy
Built by Arctech Helsinki Shipyard, the Russian flagged Gennadiy Nevelskoy (deadweight 3,000 metric tons) will home port in Saint Petersburg and was commissioned by SCF under a long-term agreement with Sakhalin Energy. She is the first of four vessels for operations at the Sakhalin-2 project; the other three are ice-breaking standby vessels (IBSBVs) that have a smaller deadweight (2,000 metric tons), but offer enhanced functionality and a higher people-on-board capacity. The agreement between Sovcomflot and Sakhalin Energy…
Aker Wins Hook-Up Deal for Johan Sverdrup Field
Aker Solutions won a contract from Statoil for the hook-up of the riser platform for the Johan Sverdrup field, Norway's largest offshore development in the past three decades. The company will work closely with subcontractor Kvaerner on joining together the platform's seven modules, which will be transported to Norway in the second quarter of 2018. The scope also covers planning, management and prefabrication. The contract value is approximately NOK 900 million and will be split about equally between Aker Solutions and Kvaerner. Aker Solutions' share will be booked in its first-quarter orders.
Strong Fleet Growth to Keep LNG Shipping Rates in Check
2017 will be a tough year for LNG shipowners as rates are expected to remain under pressure, according to the latest edition of the LNG Forecaster report published by global shipping consultancy Drewry. This year has started on a positive note for LNG shipowners as spot rates have firmed up to the West of Suez because of seasonal demand for LNG. Many analysts have started writing positive stories about the LNG shipping market believing that the momentum in rates will continue.
MAN Cryo to Deliver LNG Fuel System to Italian Ferry
MAN Cryo – MAN Diesel & Turbo’s marine LNG fuel-gas-system manufacturer – has signed a contract with Sefine Shipyard in Turkey to deliver a marine LNG fuel-gas supply system (FGSS) to an Italian ferry. The LNG supply system consists of a 150 m3 vacuum-insulated storage tank, with auxiliary equipment, including an LNG vaporizer, pressure build-up unit, bunker station and heat exchanger. The MAN Cryo system will supply gas to the ferry´s three dual-fuel propulsion engines and is scheduled for delivery in November 2017. The vessel will be the first of its kind with LNG propulsion.
GTT Bags Order to Equip Höegh’s New FSRU
GTT said it has received an order from Hyundai Heavy Industries (HHI) to equip a new floating storage and regasification unit (FSRU) with its Mark III cryogenic membrane containment system. The vessel will be built at Hyundai's shipyard in Ulsan, on behalf of Höegh LNG Holdings Ltd. This FSRU will have a storage capacity of 170,000 m3. Delivery is scheduled in 2018. Currently, four FSRUs built by HHI and equipped with the Mark III technology are in service.
Ship Operator Toisa Files for Bankruptcy
Shipping company Toisa Ltd filed for U.S. Chapter 11 bankruptcy as falling demand for the Bermuda-chartered company's oil-and-gas supply vessels left it running short of cash, according to court documents. Toisa, owned by Greek shipping magnate Gregory Callimanopulos, has a global fleet of 26 offshore oil service vessels, 13 tankers and seven bulk ships, according to documents filed with the U.S. Bankruptcy Court in Manhattan. The ship operator said it had more than $1 billion in debt in court documents.
GasLog Partners closes public offering
GasLog Partners LP today announced the closing of its public offering of 3,750,000 common units representing limited partner interests (the "common units"). The public offering price was $20.50 per common unit. The net proceeds from the offering, after deducting underwriting discounts and other offering expenses, and including approximately $1.57 million received from GasLog Ltd. (NYSE: GLOG) to maintain its 2.0% general partner interest in the Partnership, were approximately $77.06 million.
AG&P, Hindustan to Build a New LNG Import Terminal in India
Atlantic, Gulf and Pacific Company (AG&P) and Hindustan LNG (HLNG) have signed a Memorandum of Understanding (MoU) to supply tolled gas to power stations in the East Godavari region of Andhra Pradesh, India. Under the agreement, AG&P will provide an integrated solution to deliver regasified LNG through a new LNG import terminal that AG&P will also design and build at the port in Andhra Pradesh. AG&P is a leading global integrator of LNG infrastructure solutions including LNG terminals and the supply chains that emanate from them.
UAE Mulls $316mln LNG Terminal in India
Abu Dhabi's National Marine Dredging Company (NMDC) has been awarded a $316-million engineering, procurement and construction (EPC) contract for a hitech floating LNG (liquefied natural gas) port at Jafrabad in the Indian state of Gujarat, reports WAM. Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan has reviewed the plan by NMDC to develop the terminal. Mohamed Thani Murshed Al Rumaithi, chairman of NMDC, said the total cost of the project is expected to reach $316 million.
Viking Grace LNG Ferry to Install Rotor Sail
Norsepower Oy Ltd., provider of auxiliary wind propulsion systems, announced that it has signed an agreement with Finnish shipping company Viking Line to install its Rotor Sail Solution onboard the M/S Viking Grace, an LNG-fuelled cruise ferry. The 57,565 GT M/S Viking Grace currently operates in the archipelago between Turku (Finland) and Stockholm (Sweden), and is already one of the most environmentally-friendly cruise ferries in the global maritime industry. With the addition of Rotor Sail technology…
McDermott bags Middle East pipelay contract
McDermott International, Inc. was awarded an offshore pipelay contract in the Middle East. The pipelay contract includes the engineering, procurement and installation of two oil pipelines offshore. Work on this contract is expected to be completed by the end of the second quarter in 2018. “This contract marks another example where our clients in the Middle East recognize our integrated customer-driven solutions that are consistently delivered with outstanding safety and within cost and schedule,” said Linh Austin, McDermott’s Vice President, Middle East and Caspian.
NextDecade Takes Aim at Texas City for LNG Export
NextDecade LLC has signed lease agreements with the State of Texas and City of Texas City for a close to 1,000-acre site at Shoal Point for the potential development of a multi-billion dollar liquefied natural gas (LNG) export facility. Texas City owns almost 376 acres at Shoal Point, while the Texas General Land Office manages the adjoining 618 acres of state land. The agreement comes as the State of Texas continues to draw international attention following significant new natural gas finds totaling over 90 trillion cubic feet (tcf) in 2016 and as global buyers increasingly seek new…
Eletson, Evergas Form Shipping Alliance
Eletson Gas and Evergas announced an alliance of the two companies that will trade the companies’ semi-ref/ethylene capable vessels. The new venture, to be called the E3 Pool, will commence trading on the 30th of January from the Eletson offices in Piraeus and London and the Evergas offices in Copenhagen and Singapore. The new commercial venture will control the 15-strong fleet of modern gas carriers that are currently trading. It will be joined by a further four vessels to be delivered to Eletson over the next twelve months and will create a single point of contact for cargo owners.
Oil Prices Fall as US Drillers Add Rigs
Oil prices slipped on Friday, extending losses after data suggested drilling is ramping up in the United States, easing the focus on efforts by OPEC and other producers to support prices by cutting supplies. U.S. crude futures for March delivery fell 98 cents, or 1.8 percent, to $52.80 a barrel at 1:14pm EST (1814 GMT). The session high was $54.08 and the low was $52.58 a barrel. Brent was down $1.15, or 2 percent, at $55.09 a barrel. The U.S. weekly oil and gas rig count from Baker Hughes showed that U.S. drillers added 15 oil rigs in the week, the 12th gain in 13 weeks. That brought the total count to 566, the most since November 2015. "We're in a holding pattern at this point in time," said Mark Watkins, regional investment manager at U.S. Bank Private Client Group.
Oversupplied Japanese LNG Players to Sell off Excess Volumes
Asian spot LNG prices extended losses this week as oversupplied Japanese utilities sought to offload cargoes and as key European gas benchmarks softened. Asian prices for LNG delivery in March fell 25 cents to about $7.75 per million British thermal units (mmBtu), traders said, ranging from $8/mmBtu to about $7.60/mmBtu. Prices tailed off even more sharply into April, currently trading at around the $7/mmBtu mark, they said. One trader said utilities in Japan "have overbought due to warmer than average temperatures at the end of 2016 and the current cold spell doesn't look like it will last…
Shell to sell $3B in North Sea Assets
Royal Dutch Shell is nearing the sale of a large part of its North Sea oil and gas assets to private equity-backed Chrysaor for $3 billion, banking sources said, marking a milestone in its drive to reduce debt after buying BG Group. Chrysaor, a North Sea-focused oil company backed by private equity fund EIG Partners, will acquire from Shell a mix of older fields, new developments and infrastructure in a move analysts say could breathe new life into one of the world's oldest offshore basins where production has been in a steady decline since the late 1990s. The anticipated deal in what is a relatively high-cost region has been seen by the industry as a litmus test for the sector's appetite for buying and selling oil and gas fields…
Croatian FLNG Terminal Delayed
Croatia's FLNG terminal in the northern Adriatic will take a year longer to complete than initially expected, reports Reuters. The capacity of the terminal, now expected to be finished in 2019, is seen at around 2 billion m3 of gas a year, with Croatia targeting central European markets as well as domestic. The terminal, to be built on the northern Adriatic island of Krk, is among projects the EU sees as important to its efforts to enhance energy security and reduce dependence on Russian gas.
Australian LNG Projects Face Delays, Benefiting US Producers
Australia's plans for a huge increase in its production of liquefied natural gas are being dealt a big blow by a series of production delays, as energy companies struggle with technical problems and cost overruns. The country is still likely to become the world's biggest LNG exporter, dispatching about 85 million tonnes a year by the end of the decade, up from 30.7 million tonnes in 2015 and 45.1 million tonnes last year. But the pace of growth is much slower than expected because…
Magnetic Attraction: The Switch Targets Marine Growth
The Switch is targeting growth of 200 percent within the marine segment in the next five years, building on the momentum of a flurry of recent orders, its acquisition of Wartsila Drives and the financial muscle of its parent company, the EUR 3.3 billion turnover Yaskawa Electric Corporation. The Finnish headquartered business, a specialist in the development and supply of advanced drive train solutions, believes its permanent magnet (PM) and frequency converter technology can have the same transformational effect on marine as it has had in wind.
Elengy Says Received Delivery of LNG Cargo at Fos
French terminal operator Elengy said on Thursday that it had received delivery of a cargo of liquefied natural gas (LNG) at its Fos terminal on Wednesday, and expected to receive six more deliveries in February. Elengy said it was the third cargo it had received in the month of January. The delivery could ease supply pressure in southern France where prices hit record highs last week and the spread with prices in the north widened further due to tight supply following a force majeure in Algeria. French southern gas hub contract was at 40.200 euros per megawatt-hour (MWh) on Thursday, down 0.62 percent, sharply lower from its Friday high of 45 euros/MWh. The price in the north was up 3.29 percent to 19.625 euros/MWh. (Reporting by Bate Felix, editing by Gus Trompiz)
Heerema Sleipnir Contract to TMC
Compressor supplier Tamrotor Marine Compressors (TMC) has been awarded a contract by Sembcorp Marine to supply compressed air systems to the new build Heerema Sleipnir crane vessel. The scope of work includes manufacturing and delivery of a complete marine compressed air system, including Smart Air service air compressors, service air dryers, control air compressors and control air dryers. The new generation semi-submersible crane vessel Heerema Sleipnir is designed for worldwide offshore heavy lifting.
VBMS Bags Anglia ONE OWF cabling Deal
Royal Boskalis Westminster N.V. (Boskalis) announces that its subsidiary VBMS has been awarded a cabling contract with a value of approximately EUR 100 million by ScottishPower Renewables, for the East Anglia ONE offshore wind farm. The scope of work for VBMS consists of the supply, installation and burial, as well as termination and testing of 102 66kV inter-array cables. The project execution will commence in the first quarter of 2019 with completion scheduled for mid-2020.
Evoqua Introduces Service Solution for Electrochlorination Systems
Offshore and marine operators of electrochlorination-based marine growth prevention systems are set to benefit from a new maintenance and service initiative from the world’s leader in the market: Evoqua Water Technologies. Bringing together more than 100 years of water treatment expertise from a number of the company’s brands and divisions, Evoqua Electrochlorination Services (EES) has been established to provide a total after-sales service solution for all electrochlorination marine growth prevention systems (MGPS), regardless of the manufacturer or design.
Partners Developing LNG-fueled Capesize Concept
New regulations on limiting sulphur and nitrogen oxides emissions and a burgeoning global infrastructure are adding to the growing momentum for the more widespread adoption of LNG as a marine fuel. “Green Corridor”, a new joint industry project (JIP) signed recently in Singapore, looks to capitalize on this opportunity to drive the development of the market. Under the JIP, partners BHP Billiton, Mitsui O.S.K. Lines, Rio Tinto, SDARI, Woodside and DNV GL will assess the commercial potential of LNG fueled vessels in a “green corridor” between Australian and China…
Cosco Nantong Bags Wind Farm Support Vessel Order from Everbright
China’s Cosco (Nantong) Shipyard has won a contract to build one multi purpose wind farm support vessel (WFSV) for the Hong Kong-based Everbright Int’l (HK) Offshore. Cosco Corporation's 51 per cent owned Cosco Nantong will deliver the contracted newbuild in the fourth quarter of 2018. Under the contract, Cosco Nantong has also granted an option to Everbright pursuant to which the company may order another similar multi purpose wind farm support unit within six months from the contract.
MOL, Partners to Study LNG-Fueled Bulker
Japenese shipping major Mitsui O.S.K. Lines (MOL) has entered into an agreement with five parties to launch a joint study of a liquefied natural gas (LNG) fueled Capesize bulker. MOL has announced that it has reached an agreement to launch a joint study of a LNG-fueled Capesize bulker with five other companies- BHP Billiton, DNV GL, Rio Tinto, Shanghai Merchant Ship Design and Research Institute (SDARI) and Woodside Energy. The parties signed a letter of agreement at a ceremony held in Singapore on January 20.
Acta Marine Orders Wind Farm Vessel
Netherlands based ship owner Acta Marine B.V. has placed an order with Ulstein Verft AS for the construction of a DP2 construction support vessel (CSV) primarily aimed at the offshore wind market. The vessel, which carries the new SX195 design from Ulstein Design & Solutions AS, offers in-field flexibility, winter workability, safe transfer of people and cargo, optimized on-board logistics, high productivity and high comfort for charterers’ crews are of eminent value, according to the builder.
Innovative New Falck Training Center
Falck is due to open a new training center on the Maasvlakte in 2018. It will become an international, high-profile safety-knowledge center for public and industrial fire brigades, the offshore, maritime sector and wind industry. The first steps have been taken January 24, 2017 with Falck and the Port of Rotterdam Authority entering into a contract under which the site is issued to Falck. Falck, which specializes in safety and safety training, is set to leave its current site on the Beerweg when its lease with the Port of Rotterdam Authority ends in the spring of 2018.
LNG Ferry Megastar Delivered to Tallink
Finnish shipbuilder Meyer Turku Shipyard delivered the state-of-the-art LNG fast ferry Megastar to owner Tallink on January 24. The newly built ferry will begin plying the Helsinki-Tallinn route on January 29 as the most technologically advanced fast ferry in the Baltic Sea. The 212-meter-long Megastar uses liquefied natural gas (LNG) as fuel, but is also able to run on marine diesel. With LNG, the vessel will create no sulphur or soot particles and decreasing the nitrogen and CO2 emissions.
Change of CEO, Chairman of Viking
As previously communicated, The Board of Directors of Viking Supply Ships AB in December 2016 appointed Mr. Trond Myklebust as Chief Executive Officer (CEO). Mr. Myklebust has now taken on the responsibilities as CEO of Viking Supply Ships AB, as well as the subsidiary Viking Supply Ships A/S. As intended, Mr. Bengt A. Rem has been reinstated as Chairman of the Board of Viking Supply Ships AB. Mr. Folke Patriksson has returned to his previous position as Deputy Chairman.
Teekay LNG Completes Norwegian Bond Issuance
Teekay LNG Partners has successfully issued NOK 300 million (USD 35 million) in new senior unsecured bonds through an add-on to its existing Norwegian bonds due in October 2021. All payments will be swapped into a US dollar fixed-rate coupon of approximately 7.75%. The net proceeds from the bonds are expected to be used for refinancing of existing bonds and/or general partnership purposes, which may include funding installment payments on future newbuilding deliveries. Danske Bank Markets, DNB Markets, Nordea and Swedbank acted as Joint Lead Managers of the above mentioned new bond issuance.
Dynagas LNG Declares Cash Distribution
Dynagas LNG Partners LP, an owner and operator of LNG carriers, has announced that its Board of Directors has declared a cash distribution of $0.5625 per unit on its Series A Cumulative Redeemable Perpetual Preferred Units for the period from November 12, 2016 to February 11, 2017. The cash distribution is payable on or about February 13, 2017 to all preferred unit holders of record as of February 5, 2017. Distributions on the Series A Preferred Units will be payable quarterly in arrears on the 12th day of February…
New ABS Guide for LNG Bunkering
New Guide provides standards for growing LNG bunkering vessel sector. ABS, a provider of classification and technical services to the marine and offshore industries, has published the ABS Guide for LNG Bunkering. This new Guide provides standards for the design, construction and survey of LNG bunkering systems that are on board a vessel. “This industry-leading Guide incorporates our expertise in the safety aspects of LNG storage and handling as well as LNG as fuel,” says ABS Chairman, President and CEO Christopher J. Wiernicki. As LNG as fuel becomes more widely adopted in the marine industry, the infrastructure will continue to expand. LNG bunkering vessels are a prime example of that supply chain expansion and will provide a viable refueling option around the world.
Teekay Contemplates Norwegian Bond Issuance
Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) announces that it intends to issue new senior unsecured bonds in the Norwegian bond market through an add-on to its existing Norwegian bonds due in October 2021 (TKLNG04 - ISIN: NO0010777089). The net proceeds from the bonds are expected to be used for refinancing of existing bonds and/or general partnership purposes, which may include funding installment payments on future newbuilding deliveries. A portion of…
Petrogas Hires jack-up Maersk Resolute
Maersk Drilling has been awarded a new contract with Petrogas E&P Netherlands B.V. for the High Efficiency jack-up, Maersk Resolute. The firm contract covers the drilling of the two wells, A8 and A9 in the A12 block of the Dutch continental shelf. The drilling of the two wells is estimated to have a duration of 75 days. Furthermore, an option to extend the contract for up to five additional wells exist. Operations are expected to commence in June 2017 in the Dutch Sector of the North Sea.
InterDam Debuts fire, blast resistant panel for Offshore
InterDam, supplier of fire and blast doors, walls and windows to the offshore Oil & Gas and Renewable sectors, is in the final stages of testing a new pre-fabricated fire and blast resistant panel. Called the Generation V, this new product comes hot on the heels of the company’s Generation IV fire-resistant sandwich wall system developed in response to the industry’s desire for using fully fit-for-purpose prefabricated walls that fit modular and standardized building designs. “Our customers are very concerned with safety,” said InterDam’s Managing Director Berend Groeneveld.
Nogaholding Secures $741 mln Loan for LNG Terminal
Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA), recently hosted a dinner to mark the financial close of its LNG Terminal Project with Bahrain LNG WLL, the developer and owner of the first LNG receiving and regasification terminal to be developed on a public–private partnership (PPP) basis in the Middle East. Dr Dafer Al Jalahma, CEO of nogaholding, said: "Led by K-SURE, this well-structured LNG regasification terminal transaction attracted high quality project finance lending of $741 million for a tenor of 20 years.
Singapore Exchange to Open LNG Index
Singapore Exchange (SGX) is developing a spot pricing index for the Middle East and India liquefied natural gas markets (LNG) in collaboration with inter-dealer broker Tullett Prebon, says WSJ. The index is aimed at market participants who are forced to rely on tenders for setting up prices due to the lack of an accepted price marker. The deal is aimed at boosting Singapore's status as a key LNG hub providing storage, trading, shipping and price discovery activities. The new index aims to provide a credible…
EMGS Inks Charter for BOA Thalassa
Electromagnetic Geoservices ASA (EMGS) has signed a new charter agreement for the vessel BOA Thalassa with BOA SBL AS (owner of the vessel) at new and improved commercial terms. The new terms are valid through 1 October 2019 with an option to extend the new agreement through 1 April 2021. EMGS and the owners have agreed to a reduction of the charter hire rate by approximately 20%. EMGS and BOA SBL AS have also agreed to some additional flexibility during 2017. The new contract will have a firm start on 1 October 2017…
Norway Awards 4 APA Licensing to MOL
The Norwegian Ministry of Petroleum and Energy has announced the results of the APA (Award in Pre-Defined Areas) licensing round, which granted four licences to MOL Norge on the Norwegian Continental Shelf. MOL Group’s Norwegian subsidiary, MOL Norge participated in the second APA licensing round since MOL Group entered Norway in 2015. The awarded licences are located in MOL Norge core areas. “MOL Group unveiled a 2030 long-term strategy that targets that Exploration and Production should be a self funding and value generating business even in a low oil price environment.
LNG Icebreaker Polaris Bunkers in Pori
Polaris, the newest icebreaker of the Finnish icebreaking service company Arctia, set out from Katajanokka, Helsinki, for icebreaking duty in the Bothnian Bay and arrived January 10 for bunkering at the Skangas liquefied natural gas (LNG) terminal in Pori, where the vessel received approximately 700 m3 of LNG. “Polaris arrived via Utö through the Turku Archipelago to the Skangas LNG terminal in the Tahkoluoto harbor in Pori. The Pori terminal is located by a deep and wide fairway, so it was easy to access and we kept on schedule.
SBM Offshore Shares Gain on Hopes of Brazilian Settlement
Shares in Dutch offshore oil industry services company SBM Offshore rose on Friday on a media report the company was close to settling a corruption probe with Brazilian authorities that has prevented it from bidding for work in a major market. The shares rose as much as 5.5 percent to a 17-day high of 15.29 euros after oil and gas magazine Upstream published an article indicating a deal was near, analysts said. SBM, which has been seeking a deal after being accused of paying bribes to executives of state-controlled oil company Petrobras, declined to comment. If it reaches a deal, SBM would be well placed to win a tender for the first floating production, storage and offloading (FPSO) platform for the giant Libra oil field offshore Brazil, KBC Securities analyst Tom Simonts said.
MISC Berhad Names New LNG Carrier Seri Cenderawasih
MISC Berhad today held the naming and delivery ceremony for its new LNG carrier, Seri Cenderawasih. The 150,200 CBM liquefied natural gas (LNG) carrier is the second in a series of five MOSS-Type LNG carriers ordered from Hyundai Heavy Industries Co., Ltd. (HHI”) by MISC. Upon their delivery, these new LNG Carriers will be on a long-term charter to PETRONAS. The naming ceremony was graced by the presence of Encik Md Arif Mahmood, Executive Vice President & Chief Executive Officer…
Ulstein Delivers Its Largest OCV
'Island Venture', delivered on 17 January 2017, is so far the largest Offshore Construction Vessel (OCV) from Ulstein Verft, with a length of 160 metres and a beam of 30. The ship is designed by Ulstein Design & Solutions AS for Island Ventures 5 LLC. Vessel details OCV vessel for operations such as IMR, ROV services, well intervention and drilling. Max operational crane depth 4,000 m. Main moon pool opening 11.2 x 12 m, two work ROV moon pools. Extensive under-deck capacities for liquid and dry substances. Deck load capacity 9,000 t. Three separate engine rooms.
Tata to Invest in Swan LNG Project
Tata Realty and Infrastructure Ltd (TRIL) is taking 10 percent stake in a Rs. 5,900 crore ($867 mln) floating LNG import terminal being set up by Nikhil Merchant led Swan Energy in Gujarat. This will be the first investment by Tata Group in gas business. And this is the first investment decision since N Chandrasekaran named as the Tata Group chief. TRIL was established in 2007 to pursue opportunities in the real estate and infrastructure sectors. It is a wholly-owned subsidiary of Tata Sons, the holding company of the Tata Group. According to a stock exchange filing made by Swan Energy, an Expression of Interest (EOI) has been filed by TRIL “showing its willingness to invest up to 10 per cent of the equity”.
Israel Bolsters Navy to Protect Offshore Oil & Gas
Offshore energy platforms a potential target; Israel accepting bids on 24 new exploration blocks. Israel is boosting spending on its navy to better protect offshore oil and gas deposits and secure a large maritime zone that abuts that of its neighbour and enemy, Lebanon. The navy asked in 2013 for an increase in its budget of $700 million to build up its systems and $100 million annually to maintain them, though the defence ministry declines to say how much it has since received.
Van Oord inks Offshore Windfarm Deal
Van Oord has been awarded the contract for East Anglia ONE offshore windfarm by ScottishPower Renewables (part of the Iberdrola Group) for the transport and installation of 102 three-legged jacket foundations. The East Anglia ONE offshore windfarm is located in the southern North Sea, 45 kilometers southeast of the town of Lowestoft, United Kingdom. The offshore wind farm will have 102 Siemens 7 MW wind turbines, with a total capacity of 714 MW. Once operational in 2020, the offshore wind farm will deliver sustainable energy to 500,000 households.
Höegh LNG Orders 4 FSRU from Samsung Heavy
South Korea's Samsung Heavy Industries Co has won one firm Shipbuilding Contract (SBC) and an agreement for three optional floating storage and regasification units (FSRUs) from Hoegh LNG Holdings. Under the deal with Norway-based Hoegh LNG Holdings Ltd., the shipyard will build the vessel by May 2019, the company said in a regulatory filing. Samsung has an option to build three more FSRU units, it said. Höegh LNG's President and Chief Executive Officer Sveinung J. S. Støhle said in a comment: "We are very pleased to have completed this agreement with SHI…
TechnipFMC Begins Operations Post-merger
TechnipFMC has begun operating as a unified oil and gas services company following completion of the merger of Houston-based FMC Technologies and paris-based Technip. Now with a combined 44,000 employees, the new TechnipFMC will work on oil and gas projects, technologies, systems and services “from concept to project delivery and beyond” with headquarters in Houston, London and Paris. A key focus for TechnipFMC will be project economics across subsea, onshore/offshore and surface, the company said in a press release.
World Energy Trends: What’s New in Floating Production
Oil pricing continues to hover in the mid-$50s, market confidence is slowly returning and the production floater fabrication market is stirring. A major order for a production semi was placed in early January -- with Samsung receiving a contract to build the production semi for BP's Mad Dog Phase 2 project. The $1.27 billion unit will have capability to produce 110,000 b/d oil from 14 production wells. It will be used to develop further oil discoveries near the original Mad Dog Spar in the Green Canyon area of the GOM.
Shell Bolsters Offshore Wind Interests with Bid in U.S. Tender
Royal Dutch Shell has been shortlisted by the U.S. government to make a bid for an offshore wind project licence in the waters off North Carolina, as it comes under pressure from shareholders to diversify into green energy. Shell, as well as Norway's Statoil, qualified to participate in the upcoming leasing round offshore Kitty Hawk, the U.S. interior ministry said on Tuesday. The lease award is set for March 16. Shell's core business of producing oil and gas is reeling after more than two years of weak prices. The company has limited experience in building offshore wind farms but last month won a bid to build a 700-megawatt offshore wind farm in the Netherlands, together with more experienced partners.
SENER to Present LNG Bunkering Vessel Design
The SENER engineering and technology group will be at the LNG BunkeringSummit 2017 to present its revolutionary design for a liquefied natural gas (LNG) bunkering vessel. The conference is taking place in Amsterdam (Netherlands), and will run from January 29 to February 1. The use of LNG as a fuel significantly reduces carbon dioxide (CO2) emissions and almost completely eliminates sulfur dioxide (SO2), nitrous oxide (NOx), and other polluting particles. As such, it offers the perfect solution for ships that are more respectful towards the environment.
Feds to Offer 122K Acres Offshore NC for Wind
The Bureau of Ocean Energy Management (BOEM) announced that 122,405 acres offshore Kitty Hawk, North Carolina will be offered in a commercial wind lease sale on March 16, 2017. “Today’s announcement demonstrates how our collaborative efforts with Federal, state and local partners over the past eight years have built a foundation to harness the enormous potential of offshore wind energy,” said Secretary Jewell. The Kitty Hawk lease sale is the latest effort in the Obama Administration’s renewable energy program at the U.S.