Said Oil News

Malaysia’s MISC Group has entered into time charter party (TCP) and shipbuilding contracts for the development of world’s first two ammonia dual-fuel Aframax oil tankers.The TCP contract has been signed with Petronas' PETCO Trading Labuan Company (PTLCL), through MISC Group's petroleum arm AET.Using these vessels, PTLCL will be able to transport its products to customers around the world while contributing to the industry decarbonization by utilizing ammonia as the cleaner alternative…

Japan’s first dual-fuel LNG bunkering vessel KEYS Azalea has completed its first ship-to-ship LNG bunkering in Western Japan.The vessel - owned and operated by KEYS Bunkering West Japan Corporation, a joint venture established by Kyushu Electric Power, NYK Line, Itochu Enex, and Saibu Gas - bunkered LNG for the car and truck carrier Daisy Leader 2 at the Port of HiroshimaKEYS Azalea was delivered to KEYS Bunkering West Japan Corporation earlier in April. It is equipped with a…

Venezuela's loss of a key U.S. license that allowed it to freely export and increase investment in its oil sector will hit the volume and quality of its crude and fuel sales while prompting a flurry of requests for individual U.S deal authorizations.U.S. officials had warned that absent progress by President Nicolas Maduro on implementing an electoral roadmap agreed last year, the U.S. would not renew license 44, which since October had eased oil sanctions in place for the last five years.On Wednesday…

Uzmar Shipyard in Istanbul, Turkey has launched a first-of-its-kind tractor tug for Turkish operator BOTAS.The vessel, named the Sultanhani, was launched on February 27 as the world’s first Voith propelled tractor tug with liquefied natural gas (LNG) dual fuel propulsion. It is the first of two hulls being built for BOTAS to Robert Allan Ltd.’s TRAktor V3900-DF design.The TRAktor V3900-DF builds on Robert Allan Ltd.’s experience designing both Voith tractor tugs and LNG dual fuel tugs.

If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana), described his company’s architecture as a “three-legged stool approach: commercial newbuilds, government newbuilds and repair/conversion capabilities”.On the same panel…

MHWirth, a subsidiary of Norwegian oil services investment firm Akastor, has received an arbitration award issued by a tribunal in a dispute with Seatrium’s subsidiary Jurong Shipyard over the termination of four drilling rig unit contracts.As part of the ruling, MHW has been awarded an amount of $101 million as payment of termination fees.In addition, MHW has been made eligible for the reimbursement of legal costs and certain suspension costs (totaling about $7 million), as well as interest.Although the drilling rig unit contracts are held by MHW…

Ocean Network Express (ONE) has launched a reduced emissions shipping service ONE LEAF+ which offers customers the opportunity to proactively manage their own emissions and minimize environmental impact across the value chain.ONE LEAF+ offers:• Reduced Carbon Footprint: ONE will deploy regulation-compliant alternative fuels on designated vessels, allowing customers to reduce Scope 3 GHG emissions on their shipments with ONE.• Added Transparency: With ONE LEAF+, customers will…

This week at Singapore Maritime Week, the U.S. Department of Energy (DOE) is advancing ambitious decarbonization targets for the maritime transportation sector, both domestically and internationally.DOE is teaming with over 15 government and industry partners in Singapore to foster partnerships and collaborate on clean energy solutions aimed at achieving net zero-emissions in the maritime sector by 2050. Domestically, DOE’s Office of Energy Efficiency and Renewable Energy (EERE) is joining with ABS to create opportunities for data and information sharing to strengthen U.S. shipping. The U.S.

The Biden administration said it would not renew a license set to expire early on Thursday that had broadly eased Venezuela oil sanctions, moving to reimpose punitive measures in response to President Nicolas Maduro’s failure to meet his election commitments.Just hours before the deadline, the U.S. Treasury Department announced on its website that it had issued a replacement license giving companies 45 days to “wind down” their business and transactions in the OPEC country's oil…

U.S. sanctions are limiting tanker activity for Russia's top shipping group, Sovcomflot, the company's head said on Tuesday, as Washington tightens the screws on Moscow.The U.S. imposed sanctions on Sovcomflot on Feb. 23 as Washington seeks to reduce Russia's revenues from oil sales that it can use to support its military actions in Ukraine.Sanctions have impacted the company's operations, "limiting our geography and commercial prospects", Sovcomflot CEO Igor Tonkovidov told reporters.He added that as sanctions are a relatively new instrument to the shipping market…

Offshore installation contractor Allseas has made progress on the installation of the pipeline for Santos’ Barossa Gas Export Pipeline (GEP) project offshore Australia.Allseas’ Audacia pipelay vessel has installed her largest ever PLET in S-mode, concluding several years of in-house engineering, fabrication and testing, the Swiss-based contractor said.Due to the weight of the pipeline end termination structure, Allseas’ production crew had to install it separately to the connector head.Audacia vessels is being supported with four other vessels - Fortitude…

Finnish shipping company Meriaura announced it has placed an order for two Ecotrader cargo ships from Dutch shipyard Royal Bodewes. The ships will be built in Hoogezand for scheduled delivery in January and December 2026.The ships are 105 meters long, 1A ice classed 6750 DWT vessels, designed to achieve the lowest possible emission levels, Meriaura said. Like the EcoCoaster vessels Eeva VG and Mirva VG delivered in 2016, the newbuilds will be capable of operating on biofuel made from recycled raw material produced by Meriaura’s subsidiary VG-Ecofuel.

Russia's seaborne oil product exports fell 4.2% in March from the previous month to 10.178 million metric tons due to unplanned maintenance at refineries and a uel export ban, data from industry sources and Reuters calculations showed.Russia's daily offline primary oil refining capacity has jumped by around a third in March to 4.079 million metric tons from February due to drone attacks, Reuters calculations based on data from industry sources showed.Last month, a fire broke out after a Ukrainian drone attack at the Norsi refinery…

In 2023, sanctions on Russian oil exports by the EU caused a major shift in tanker trades and a 10% increase in average sailing distances for EU tanker imports. Now, attacks on ships in the Red Sea area have caused average sailing distances to increase a further 16% and tonne mile demand to increase 12% despite falling volumes, says Niels Rasmussen, Chief Shipping Analyst at BIMCO.During the first quarter of 2024, tanker import volumes to the EU fell 4% year-on-year due to a 1% increase in the clean tanker trade but a 5% fall in the dirty tanker trade.

Esgian reports on new contracts for Borr Drilling and Shelf Drilling (North Sea) jackups in its Week 15 Rig Analytics Market Roundup. Additionally, Energean has selected a drillship for its upcoming drilling campaign offshore Morocco. South America remains vital to the floating rig market, with ExxonMobil moving ahead on a sixth development on the prolific Stabroek block offshore Guyana and Petrobras reporting a new discovery in Brazil's Potiguar Basin.Report Outline:ContractsBorr Drilling has announced new contract commitments for three of its premium jackup rigs…

Greenpeace activists painted slogans on an Estonian-owned tanker in the middle of the Baltic Sea on Friday, and said the ship supplied bunker fuel to vessels transporting Russian oil that posed a danger to the environment and would fuel conflict."Oil fuels war," the campaigners, who arrived in small boats, scrawled in large white letters on the side of the Zircone tanker, pictures provided by Greenpeace showed.The vessel, sitting in international waters off the Swedish island of Gotland, has supplied fuel to more than 50 oil tankers travelling to or from Russian ports in the last two months, S

2024 marks 50 years of ship design work for Kongsberg Maritime. From setting the benchmark that set the standard for offshore supply vessels in the 1970s, to advanced anchor handlers that transformed the oil and gas industry, and a growing reference list in fishery and merchant ships, Kongsberg Maritime’s range of ship designs has continued to evolve over the past five decades.The early 1970s, at the dawn of the offshore oil and gas industry, saw the very first vessels, designed…

On 11 March, MV Svenja discharged her cargo of nine modules, marking the completion of the JSI Alliance’s scope of work in the Basrah Refinery Upgrading Project in Iraq for JGC Corporation.The Alliance dedicated two vessels to the project: the Jumbo Kinetic with her two 1,500t cranes, and the MV Svenja with two 1,000t cranes. Together, the vessels undertook transport of 84 modules using JCG's specially designed lifting frame. The two vessels were selected due to their having the required capabilities for lifting and transporting the modules…

Subrosa Group (SRG) announced it is rolling out a new Maritime Security (MarSec) division, SRG Maritime Security, to deliver security services globally to the commercial shipping and offshore industries, private vessels and superyachts.SRG's CEO, Niall Burns, said, "The establishment of our Maritime Security division is a direct response to the critical need for elite armed protection for large vessels navigating increasingly perilous waters worldwide. Incidents of maritime attacks are alarmingly on the rise…

Spot marine biofuel premiums have weakened further at the world's largest bunker hub Singapore, weighed by slow demand, market sources said this week.Premiums for the flagship B24 marine biofuel blend recently traded between $120 to $130 a metric ton over 0.5% low sulphur fuel oil quotes, on a delivered Singapore basis, according to sources from bunker suppliers, trading firms and shipowners.The premiums extended declines from early first quarter when the product traded down to about $140 a ton…

DNV has awarded HD Hyundai Mipo Dockyard an approval in principle (AIP) for the design of ammonia dual fuel 45,000 m3 liquefied petroleum gas (LPG) carriers.The presentation took place at the HD Hyundai Global R&D Center (GRC) in Seongnam, Korea. HD Hyundai Mipo (HMD), who have developed the basic ship design, provided detailed engine specifications and operational data from global engine maker, WinGD, and reviewed the safety and suitability of the design with DNV. The designs are based around a new 10…

The commander of Iran's Revolutionary Guard's navy said on Tuesday Israel's presence in the United Arab Emirates was viewed as a threat by Tehran and it could close the Strait of Hormuz if deemed necessary.Iran has threatened to retaliate for suspected Israeli airstrikes on its consulate in Syria's capital on April 1 that killed seven Revolutionary Guards officers including two senior commanders - stoking tensions between the arch enemies already heightened by the Israel-Hamas war in Gaza."We do not get hit without striking back…

Enterprise Products Partners said on Tuesday it had received a deepwater port license for its Sea Port Oil Terminal (SPOT) in the Gulf of Mexico from an agency of the U.S. Department of Transportation.The project, located near Freeport, Texas, would become the biggest offshore oil export terminal in the U.S. after completion with a capacity to load two supertankers at a time and export 2 million barrels of crude oil per day."The receipt of the license is the most significant milestone to date in the development and commercialization of SPOT…