Iraq Oil Exports Steady Despite Start of OPEC Cut
Oil exports from Iraq's southern ports in the first nine days of January have held steady at December's record high, according to loading data and an industry source, despite the start of an OPEC agreement to cut production. Shipments so far this month have averaged above 3.50 million barrels per day (bpd), according to the loading data tracked by Reuters and by the industry source. In all of December, Iraq's southern exports reached a record high of 3.51 million bpd, Iraq's oil ministry said on Monday. The Organization of the Petroleum Exporting Countries started implementing an agreement to cut production on Jan. 1. Iraq has said it will cut production by 200,000 bpd as part of the deal.
Box Ships APL Denver and Wan Hai 301 Collided
The container carriers APL Denver and Wan Hai 301 collided off Pasir Gudang Port in Johor, Malaysia, resulting in an oil spill. Maritime and Port Authority of Singapore (MPA) said it was notified by the Johor Port Authority (JPA) of a collision between Singapore-registered container vessel Wan Hai 301 and Gibraltar-registered container vessel APL Denver. In a statement, MPA said the master of APL Denver reported that one of the vessel's bunker tanks sustained damage, causing a spillage of about 300 tonnes of oil.
Oil Spill after two Container Vessels Collide near Johar
At about 2350 hrs on 3rd January 2017, the Maritime and Port Authority of Singapore (MPA) was notified by the Johor Port Authority (JPA) of a collision between Singapore-registered container vessel WAN HAI 301 and a Gibraltar-registered container vessel APL DENVER off Pasir Gudang Port, Johor Malaysia. The Master of APL DENVER reported that one of her bunker tanks sustained damage resulting in approximately 300 tonnes of oil spillage. JPA has deployed four anti-pollution craft on site and an oil boom around APL DENVER to contain the oil spill. In Singapore, some oil patches were spotted and the spillage has been contained off the western side of Pulau Ubin. MPA has activated a total of eight anti-pollution craft with dispersant spraying capabilities to clean up the spilled oil.
Update on Collision of Container Vessels Wan Hai 301, APL Denver
The Maritime and Port Authority of Singapore (MPA) continues to coordinate the containment and clean-up efforts of the oil spillage in Singapore’s waters following the collision of container vessels Wan Hai 301 and APL Denver. As of 5 January 2016, a total of 17 vessels and 222 personnel have been deployed. Progress of the clean-up is being made along the western coastlines of Pulau Ubin (OBS Jetty) and Nenas Channel. Some patches of oil were spotted off CAFHI Jetty and also along the shorelines of Pasir Ris Beach…
Boxship Collision Causes Oil Spill on Singapore-Malaysia border
Nearly 300 tonnes of oil spilled into the narrow strait separating Singapore and Malaysia after a collision between two container vessels, the Singapore Marine Port Authority (MPA) said on Wednesday. There were no reports of injuries and 12 anti-pollution craft had been sent to clean up the mid-sized oil spill, the MPA said in a statement. "Traffic in the East Johor Straits and Singapore's port operations remains unaffected", it said, adding that the spill had been contained off the western side of Singapore's Pulau Ubin island. The spill was caused by damage to the fuel tank of the container vessel APL Denver after a collsion with the WAN HAI 301 off Pasir Gudang Port in Johor, Malaysia late on Tuesday.
West African Oil Loading for Asia to Slip in January
West African crude loading for Asia is expected to slide more than 10 percent in January as some buyers opt for regional grades or cargoes in floating storage, a Reuters survey of traders and shipping data showed on Thursday. Some 1.808 million barrels per day (bpd) are scheduled to load from Nigeria, Angola, Ghana and other West African producers over the coming month, down from December's 17-month high of 2.1 million bpd. Demand was still good, with buyers in China underpinning price differentials for Angolan oil in particular, but the slip highlighted the fierce competition for Eastern buyers in an oversupplied oil market. Buying in Indonesia accounted for the largest portion of the drop, falling to just one cargo from seven in December.
Libya to declare force majeure at Ports over Smuggling
Libya's UN-backed government will declare force majeure on two ports to stop fuel smuggling from them, a statement from its presidential council said on Saturday. The statement gave no details on when the measure would come into effect, but it comes after officials accused a local armed group of fuel smuggling from Zawiya port. The measure will cover Zawiya and Zuwara ports. The armed faction guarding Zawiya port peacefully withdrew from the terminal earlier this week. Libya expects its oil production to rise to around 900,000 barrels per day after a series of agreements to reopen major oil ports and oilfields which had been closed for two years by armed factions, fighting and strikes. (Reporting by Ahmed Elumami; Editing by Stephen Powell)
New Workboat for Oil Spill Response
An all new workboat, produced by the Portuguese company SWB, Seismic Workboats, Lda headquartered in Peniche, has been designed and developed by engineering teams from Portugal, England, the U.S. and Norway and built at Peniche Shipyard. The new vessel is the first workboat SWB has produced for oil spill response. In October, the National Maritime Authority in Portimão, Algarve (AMN) carried out a validation test consisting of an exercise for oil spill response in the marine environment, allowing testing and validation of the workboat in multiple scenarios.
Samsung Wins $1.26bln Contract from BP
Samsung Heavy Industries, South Korea's major shipyard, build a floating production unit for British oil multinational BP that will be used in offshore drilling in the Gulf of Mexico, says a report in Yonhap. The 1.5 trillion won ($1.26 billion) contract is the first for a floating oil production platform to be received by any of South Korea's big three shipbuilders in 18 months, according to Samsung Heavy. Under the deal with BP Plc, Samsung Heavy will build a floating production unit (FPU) by August 2020.
Nigeria to Pursue peace in restive Oil-producing Delta Region
Nigeria's government will seek a lasting peace settlement with militants in the oil-producing southern Niger Delta region in 2017, President Muhammadu Buhari said in a New Year's message on Saturday. Attacks on oil facilities in Nigeria's energy hub, coupled with low oil prices, helped push Africa's biggest economy into recession - the first in 25 years - in the second quarter. Crude oil sales account for two-thirds of government revenue in the OPEC member country. Attacks by militants…
Dryships to Expand into VLGC sector
DryShips Inc. announced today that, it has agreed to enter into a “zero cost” Option Agreement (“LPG Option Agreement”) with companies controlled by its Chairman and Chief Executive Officer, Mr. George Economou, to purchase up to four high specifications Very Large Gas Carriers (“VLGC(s)”) capable of carrying liquefied petroleum gas (“LPG”) that are currently under construction at Hyundai Heavy Industries (“HHI”) . Each of the four VLGCs are going to be employed on long term charters to major oil companies and oil traders.
Bimco Expects 'Die-hard Competition' to Continue in 2017
2017 will see another year of die-hard competition, which now includes tankers, says International shipping association Bimco. The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach«. Bimco said in market outlook released today.
Russia Resumes Liftings from Novorossiisk
Russian oil pipeline monopoly Transneft said it had resumed oil loadings from the Black Sea port of Novorossiisk on Friday morning after a storm. Transneft also said that it expected to export 30.6 million tonnes of oil from Novorossiisk, 50.6 million tonnes from Primorsk, 30 million tonnes from Ust-Luga and 31.7 million tonnes from Kozmino this year. Reporting by Vladimir Soldatkin
US Rig Count Recovers to Near Year-ago Levels
The U.S. oil rig count ended 2016 just below year-ago levels as drillers added rigs this week as part of the biggest recovery since a global oil glut crushed the market over two years. Drillers added two oil rigs in the week to Dec. 30, bringing the total count up to 525, the most since December 2015 and 11 shy of the 536 rigs seen at the end of 2015, energy services firm Baker Hughes Inc said on Friday. Since crude prices recovered from 13-year lows in February to around $50 a barrel in May…
Statoil May Stop Drilling in US Gulf of Mexico
Norway's Statoil is considering whether to end its costly search for oil and gas in the U.S. Gulf of Mexico, the company's exploration chief told financial daily Dagens Naeringsliv (DN) on Friday. Statoil has been part of several discoveries in the region as a junior licence partner, but the company has failed to strike oil in the drilling campaigns it has operated, despite spending billions of dollars. "Even if the fields we have are paying off, the Statoil-operated exploration campaign could so far be characterised as a failure," Tim Dodson told DN.
Great Ships of 2016: Milos
Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. Milos is the first vessel in a series of two Suezmax Crude Oil Tanker, built by SungDong Shipbuilding & Marine Engineering for Kyklades Maritime Corporation. The vessel is built under the survey of Lloyd’s Register and designed in accordance with IACS Common Structure Rule(CSR). The vessel features a double side skin and has a flush deck, bulbous bow, transom stern, open water type stern frame, semi-balanced rudder and single propeller driven by a slow speed diesel engine.
Lerwick Port Spells out Strategy for Expansion
Lerwick Port Authority has detailed a series of objectives to meet its aim of running an efficient, cost-effective harbour, including continuing expansion of the infrastructure. The goals are featured in an interim Update produced ahead of publication of a new style annual report in Spring. Commenting on activity, Chairman Brian Anderson notes: “Lerwick reached peak level in 2013 and 2014, largely driven by oil & gas projects, both onshore and offshore. The Update also notes that…
TRIYARDS Post 17% Revenue Growth
TRIYARDS Holdings Limited (“TRIYARDS” or the “Group”) reports a revenue of US$91.2 million for the three months ended 30 November 2016 (“1QFY17”), a 17% increase from the corresponding year-ago period (“1QFY16”). The increase was mainly a result of contributions from two units of multi-purpose support vessels (“MPSVs”), three units of chemical tanker, four units of escort tugs, one unit of scientific research vessel and two units of oil tankers during the reporting period and contribution from the Strategic Marine Group Net attributable profit (“PATMI”) for 1QFY17 was US$2.1 million…
DryShips Expands to Gas Carrier Market with Four New VLGCs
DryShips Inc. has agreed to enter into a "zero cost" LPG Option Agreement with companies controlled by its Chairman and Chief Executive Officer, George Economou, to purchase up to four high specifications Very Large Gas Carriers (VLGC) capable of carrying liquefied petroleum gas (LPG) that are currently under construction at Hyundai Heavy Industries (HHI). Each of the four VLGCs are going to be employed on long term charters to major oil companies and oil traders. Under the terms of the LPG Option Agreement…
Photos: Oil Platform Catches Fire in the Gulf of Mexico
The U.S. Coast Guard said an oil production platform has caught fire in the Gulf of Mexico, roughly 80 miles southwest of Grand Isle, La. The fire, which broke out aboard the Ship Shoal 266 A oil production platform at approximately 2:30 a.m. Thursday, was reported to have been full extinguished by approximately 5:50 a.m., according to the rig’s owner Renaissance Offshore. There were four crew members aboard the platform who, after initial efforts to extinguish the fire, evacuated into the water aboard a life raft and were recovered by the offshore supply vessel Mary Wyatt Milano…
Hempel Debuts Offshore Assets Coating Range
Two new coatings, Hempadur Quattro XO 17820 and 17870, are being introduced to increase the service life and reduce on-station maintenance requirements of offshore assets by leading worldwide coatings supplier Hempel. The new high-performance pure epoxy uni-primers presented today (9 January), combine excellent corrosion protection with construction flexibility. Hempadur Quattro XO 17820 / 17870 are part of a series of two-component epoxy primer coatings which provide advanced crack resistance using Hempel’s patented fibre technology.
W. Africa Crude-Trading Quiet, Nigerian Delays Dampen Demand
Oil futures were on track for their biggest annual gains since 2009 despite intraday losses, aided by OPEC's agreement to cut production from early next year. Still, demand for West African crude in spot trading was limited by holidays across Europe and uncertain demand in Asia. Gains in U.S. crude stocks showed by the U.S. Energy Information Administration this week also raised doubts over western demand for African oil in the near term. * No fresh trading was reported despite some cargoes loading Jan. 15-20 being available for purchase. * Loading delays on ExxonMobil's crude exports, which included Qua Iboe and Erha, impinged on demand as buyers worried about demurrage costs. * The bulk of the delays were because of strikes this month over layoffs by oil companies, traders said.
BIMCO: What Shipping Market can Expect for 2017
The shipping industry has its work cut out going forward in 2017 as the International Monetary Fund (IMF) forecast the lowest level of global GDP growth since 2009. 2017 will see another year of die-hard competition, which now includes tankers. In 2016, the container shipping industry bit the bullet in terms of demolition and consolidation to help the market to recover. The dry bulk sector needs to copy that approach. The longer global economic growth remains weak and lacks investment, the lower future growth potential for shipping.