Shell: LNG Demand Strong to 2030
Shell launches LNG Outlook Global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year. This included an increase in net LNG imports of 17 MT. Many expected a strong increase in new LNG supplies would outpace demand growth during 2016. Instead, demand growth kept pace with supply as greater than expected demand in Asia and the Middle East absorbed the increase in supply from Australia, according to Shell’s first LNG Outlook. “Global LNG trade demonstrated its flexibility time and again in 2016, responding to shortfalls in national and regional gas supply and to new emerging demand,” said Maarten Wetselaar, Integrated Gas and New Energies Director at Shell.
Kelvin Hughes radar for RN's River-class OPVs
A world leader in the design and manufacture of navigation and security surveillance radar, Kelvin Hughes announced in April 2015 that it had been selected to supply its SharpEye systems for the new Batch 2 River-class offshore patrol vessels (OPVs) - HMS Forth, HMS Medway and HMS Trent. Today, the company is delighted to announce that it will also be supplying the same industry-leading radar equipment for the two latest Batch 2 ships – HMS Tamar and HMS Spey. Each ship will be equipped with a SharpEye I-Band radar for helicopter control and navigation as well as an E/F-Band SharpEye™ radar for navigation and collision avoidance. In addition, Kelvin Hughes will be supplying its ARPA widescreen radar display for all of the Batch 2 OPVs.
LNG Bunkering Commences in Australia
Under an agreement with Woodside, EVOL LNG refueled the platform supply vessel, Siem Thiima, on January 23 at King Bay Supply Base near Dampier. Business Manager, Nick Rea sees it as just the beginning. “Our decision to enter the LNG bunkering market is part of a long-term strategy that recognizes environmental and economic sustainability of LNG as a transport fuel,” said Rea. “It also recognizes that the LNG marine fuel market is still in development so the fact EVOL has over…
IBIA in Attack Mode
The IMO’s MEPC 70 proposals for a marine fuels sulfur cap of 0.5% to be in place by 2020 have attracted severe criticism from several major stakeholders in the maritime sector, including the International Bunker Industry Association, the organization that defends the interests of bunker fuel suppliers. The IBIA has stated that several unknowns remain about the proposed limit and has asked whether assumed global capacity will translate into actual marine market supply in 2020: “Will refiners produce suitable fuels, and what will these fuels look like?
Allseas Bags Nord Stream 2 Project Contract
Following an international tender process, Nord Stream 2 AG have awarded a contract for offshore pipelay of the Nord Stream 2 natural gas pipeline through the Baltic Sea to Allseas. The company will undertake offshore pipelay works for both lines in 2018 and 2019. Allseas will use three pipelaying vessels – Pioneering Spirit, Solitaire and Audacia. The utilisation of the dynamically-positioned pipelay vessels, which are able to carry out precise maneuvering without anchors, should ensure additional environmental protection and safety in the congested Baltic Sea.
Pioneering Spirit: Addressing Drive & Control Challenges
It was the biggest assignment Bosch Rexroth in Boxtel had ever faced, and it took more than two years to carry it out. But they seized with both hands the opportunity to research and supply the hydraulic components and associated local controls for the innovative lifting system on board the Pioneering Spirit, conceived and developed by Allseas. The request came from Allseas, an offshore specialist, or in fact from founder and owner Edward Heerema. A specially designed ship to lift entire offshore platforms off their piles in a single movement…
Improved Demand Easing Dry Bulk Vessel Oversupply
With contraction in vessel supply and healthy demand growth, the dry bulk shipping market is expected to recover from 2017 onwards, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry. An impressive outlook for dry bulk demand coupled with a small orderbook of newbuilds as a percentage of the total fleet capacity will ensure a sustained recovery in the dry bulk market. Earnings in the dry bulk market are expected to improve from 2017 with a narrowing supply-demand gap.
Peterson to Develop New Port Cameron
International energy logistics provider Peterson is to partner with Port Cameron in Louisiana to develop a deepwater staging port and supply base facility serving the Gulf of Mexico. Peterson has signed a teaming partnership agreement with Port Cameron for the development of a 500-acre deep water staging port. Upon completion, Port Cameron in Louisiana will be one of the largest private energy services facilities on the Gulf Coast. The agreement will see Peterson serve as port manager with the option to lease up to 1.2 million square feet of space in Port Cameron Logistics Center.
DryShips Sails Back into Tanker Market with Two Modern Vessels
Greek owner of drybulk carriers DryShips Inc. has announced that it is re-entering the tanker shipping market as it agreed to purchase an Aframax tanker and a very large crude carrier (VLCC). - One 113,644 DWT Aframax tanker currently under construction in South Korea. The Company expects to take delivery of this vessel sometime in the second quarter of 2017. The vessel is expected to be employed in the spot market. - One 320,105 DWT Very Large Crude Carrier built in 2011. The Company expects to take delivery of this vessel sometime in the second quarter of 2017.
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.
C-MAP Appointed Admiralty Distributor
C-MAP has been appointed by the United Kingdom Hydrographic Office (UKHO) as an official ADMIRALTY Digital Distributor and SENC Service Provider. Following this appointment, C-MAP, will now supply ADMIRALTY Vector Chart Service (AVCS), C-MAP ADMIRALTY ENC Service (CAES), ADMIRALTY Digital Publications (ADP) and Electronic Nautical Publications (e-NPs) through its global network of offices and distributors. AVCS - the world’s leading ENC Service - will be provided by C-MAP in both traditional S-63 format and in the time and cost efficient DNV certified SENC data compression format.
Maersk Expects Healthier 2017 for Shippers
Bloomberg quoted Robbert van Trooijen, APAC CEO of Maersk Line, saying that the current year (2017) will be more profitable than the last. Post-Hanjin, ocean freight customers now stressing stability and avoiding risk to supply chains, not just rates, he said. "The bankruptcy of South Korea's Hanjin Shipping and a consolidation in the container shipping industry will pave the way for a better year for the industry," he told the international news wire. Maersk Line is seeing a…
Marine Jet Power Awarded Repeat Order for Korean Navy
Marine Jet Power has been awarded a repeat order to supply waterjets to another 3 units Patrol Killer Experimental (PKX-B) fast attack craft for the Korean Navy. Last year, South Korean shipbuilder Hanjin Heavy Industries and Construction (HHIC) launched the first unit which is currently undergoing sea trials. The propulsion system comprises a MJP 950 single drive and MJP 650 double drive waterjet installation. Powered by General Electric's 12 000 hp LM 500 gas-turbine engines and Caterpillar Marine's 1 900 hp CAT C32 diesel engines in a combined diesel and gas turbine configuration…
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.
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
Marine Jet Power Wins Korean Coast Guard Contracts
Marine Jet Power has been awarded two new contracts to supply waterjets for another eight units 500T Patrol Vessels for the Korean Coast Guard: five vessels to be built by Hanjin Heavy Industries & Construction and three vessels to be built by Kangnam Corporation. The propulsion system comprises a MJP 950 double drive and MJP 750 double booster waterjets. Powered by four diesel engines at a total of 14 MW the top speed is over 35 knots. The eight new vessels will be delivered during 2018, continuing the existing 500T-program and extending the series to now comprise a total of 23 vessels.
Harley’s Latest tug begins service
The latest addition to the Harley Marine fleet is now completing sea trials and preparing to enter service. The “M/V Earl W. Redd” will be operated under the flag of the Olympic Tug & Barge unit of Harley. The 120 foot tractor tug, built by Diversified Marine Inc. in Portland, Oregon, and named after the father of Diversified President Kurt Redd, is slated to enter service providing unrestricted coastal towing along the West Coast of the United States. Tier IV-compliant CAT engines coupled to Rolls-Royce “Z-drives” power the tug, delivering an expected bollard pull capability of 75 tons.
Cammell Laird Launches Claire House Charity Kite Boat
Merseyside shipyard and engineering company Cammell Laird held a special ceremony to launch a unique kite boat designed to raise funds for charity Claire House Children’s Hospice. The ‘CL Challenger’ was designed by retired shipyard naval architect Bill Owen incorporating a kite as the main power source to propel the vessel. The eco-friendly vessel also generates electric power for radio, lights and GPS through batteries charged via solar panel. It will now be used by a team of intrepid kite surfers for a range of sea-faring challenges to raise vital cash for the Bebington children’s charity.
Venezuela Delays Crude Shipments amid Operational Mishaps, Low Output
Venezuelan state oil company PDVSA has delayed and canceled crude deliveries to commercial partners in recent months, according to documents seen by Reuters, a further sign of the steady production decline of the country's top export. From October through January, PDVSA canceled or delayed delivery of almost 7 million barrels of crude due to cargoes being rescheduled or skipped, often because it did not have enough oil available, according to internal company documents seen by Reuters. Most pending cargoes were supposed to be delivered to regular buyers including U.S. Phillips 66 and Thai TIPCO Asphalt. Other shipments were canceled even before being assigned to specific customers.
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.
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.
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.
Has the Asian LR Tanker Market Hit Bottom?
The Long Range (LR) 2 tanker market in the East of Suez has been languishing in the doldrums for almost two weeks. LR2 rates on the AG/Japan route, basis 75 kt, nosedived from w120 at the beginning of January to current levels of w80. Earnings for a round voyage on the benchmark route are hovering around barely breakeven levels at $2,000/day. A slew of refinery outages which have lowered CPP exports as well as a pile up of prompt tonnage in the region have culminated in the perfect storm.