ICE to Offer First US Gulf Coast LNG Futures Contract
With the United States about to become a net exporter of natural gas for the first time in 60 years, Intercontinental Exchange Inc said on Wednesday it would begin trading the first-ever U.S. liquefied natural gas futures contract in May. ICE said the contracts would be cash-settled against the Platts LNG Gulf Coast Marker price assessment and use Platts-derived U.S. GCM LNG forward curves for daily settlement purposes. The curves will have an initial term of 48 months. "Domestic and international market participants now have a risk-management solution that lays the foundation for a more effective means of hedging their spot and forward exposure," J.C. Kneale, ICE's vice president, North American power and natural gas markets, said in a statement. U.S.
US O&G Industry Reaps the Benefits of International Trade
Rising exports have thrown a lifeline to U.S. shale producers and refiners, giving them an additional outlet at a time when the domestic market has been at risk of becoming saturated. The United States exported record quantities of natural gas, propane, gasoline, distillate fuel oil and light crude last year while continuing to import the heavy oils needed by its refineries. Gas exports increased by almost 30 percent in 2016 and have more than tripled in the last decade, limiting the build up of unused gas and supporting prices in recent months despite the warmest winter on record.
The International Maritime Organization (IMO) Polar Code took centre stage at the Arctic Council in Juneau, Alaska, United States (8-9 March) where IMO Secretary-General Kitack Lim delivered a speech on the importance of the Code. Secretary-General Lim highlighted the safety of seafarers and the environmental protection as key elements of the Code. The meeting unveiled its 2017-2019 programme which focuses on addressing the effects of climate change and fostering sustainable development.
Japan Plans to Send Largest Warship to South China Sea
Japan plans to dispatch its largest warship on a three-month tour through the South China Sea beginning in May, three sources said, in its biggest show of naval force in the region since World War Two. China claims almost all the disputed waters and its growing military presence has fueled concern in Japan and the West, with the United States holding regular air and naval patrols to ensure freedom of navigation. The Izumo helicopter carrier, commissioned only two years ago, will make stops in Singapore, Indonesia, the Philippines and Sri Lanka before joining the Malabar joint naval exercise with Indian and U.S. naval vessels in the Indian Ocean in July. It will return to Japan in August, the sources said.
Carl Vinson Strike Group Arrives in the Republic of Korea
Aircraft carrier USS Carl Vinson (CVN 70), embarked Carrier Air Wing (CVW) 2 and Arleigh Burke-class guided-missile destroyer USS Wayne E. Meyer (DDG 108) arrived in Busan, Republic of Korea (ROK) for a scheduled port visit, March 15. The Carl Vinson Strike Group completed two weeks of routine operations in the South China Sea and will continue on their regularly scheduled Western Pacific deployment after departing Busan. Assets from the USS Carl Vinson Carrier Strike Group and…
USCG Commandant Delivers State of the Coast Guard Address
U.S. Coast Guard Commandant Adm. Paul Zukunft delivered the 2017 State of the Coast Guard Address at the National Press Club Thursday. This was Adm. Zukunft's third State of the Coast Guard Address and he emphasized the service as a unique instrument of national security. First and foremost an armed service, the Coast Guard is the only branch of the U.S. armed forces that has broad law enforcement authorities and a portfolio of more than 60 bi-lateral agreements that extend around the globe, Zukunft said.
Kull Named President of Torqeedo Group
Marcia Kull has been named President of Torqeedo Group, Inc., and will direct global sales and strategy for the electric and hybrid marine propulsion systems manufacturer. Kull will oversee Torqeedo’s growth activities in the Americas, EMEA and Asia-Pacific regions. The newly created position is an expansion of the current management team. She will assume her new role on May 1, 2017. Kull joins Torqeedo from Volvo Penta of the Americas, where she was most recently Vice President, Marine Sales.
Multinational Task for Australian Mine Warfare Team
Fifty navy divers and mine warfare specialists from Australia, New Zealand, the United States, and Britain converged on Bland Bay, New Zealand for Exercise FULCRUM recently. The contingent had to locate and dispose of 16 dummy mines of varying shape, size and weight, set throughout the bay. Australian and British autonomous underwater vehicle teams used remote environmental monitoring units to scan the bay floor and identify mine-like objects. The US and New Zealand then sent out divers to confirm whether or not they were mines…
False Citizenship Claim Leads to Conviction
R. Alexander Acosta, United States Attorney for the Southern District of Florida, Hal Robbins, Special Agent in Charge, Southeast Division, National Oceanic & Atmospheric Administration (NOAA), Keith Perniciaro, Acting Special Agent in Charge, Immigration and Customs Enforcement, and Jonathan Sall, Special Agent in Charge, United States Coast Guard Investigative Service, Southeast Region, announced today that defendant, David N. Straker, a citizen of Barbados residing in Virgin Gorda, British Virgin Islands, was convicted by guilty plea and sentenced by United States District Court Judge Paul Huck in Miami, Florida, in connection with the submission of false document to the United States Coast Guard, in violation of Title 18, United States Code, Section 1001.
Marshall Islands Registry is "Number Two"
The Republic of the Marshall Islands (RMI) fleet now stands at 223,262,177 deadweight tons (DWT), making it the second largest registry in the world in terms of DWT. International Registries, Inc. and its affiliates (IRI) have provided administrative and technical support to the RMI Registry since 1990. "This is a very significant milestone for the RMI Registry," said Bill Gallagher, President, IRI. "A strong legislative framework, customer driven service ethos, and a commitment to quality have all been key to our continued success," he continued. The RMI is not only the world's second largest registry, but the Greek shipping industry's leading flag as well.
River Pilot Pleads Guilty
Jim Letten, United States Attorney for the Eastern District of Louisiana, announced that TEAL MURDOCH GRUE, a river pilot and member of the New Orleans Baton Rouge Steamship Pilot's Association ("NOBRA") pled guilty to a Superseding Bill of Information charging him with making false material statements to the United States and misuse of a Federal Pilot's License. GRUE admitted he filed applications with attachments to the Regional Examination Center for the United States Coast Guard in New Orleans, La., in September, 1999 and again in March, 2000, which contained false material statements and entries regarding his personal and marine history with the United States Coast Guard in order to obtain a First Class Pilot's License.
SS United States Supporters Push for NY Return
The 'SS United States' - America's Flagship - is making her final push to return home to New York with a DAY OF ACTION on Thursday, 4, September in Manhattan that will also feature an announcement by a developer interested in re-purposing the historic ship into a major waterfront destination, says the SS United States Conservancy organization. The SS United States redevelopment will create more than 2000 jobs and generate significant revenue for the city. Volunteers will be handing…
The World's First Offshore Wind Farm is Retiring
DONG Energy has decided to retire “Vindeby”, the world’s first offshore wind farm, which 25 years ago marked the birth of the offshore wind industry. Today, offshore wind is a recognised and proven renewable energy technology, and the offshore wind turbines harvest the energy from the wind, transforming it into green power for millions of households. But it is actually only some 25 years ago that the world's first offshore wind farm was constructed close to shore in the low waters off Vindeby near Lolland in the south east of Denmark.
Shipping Company and Chief Engineer Plead Guilty
Ionia Management, S.A. ("Ionia"), a Greek shipping company with offices in Piraeus, Greece, and Christos Kostakis, chief engineer aboard the M/T (Motor Tanker) Alkyon, a commercial oil and chemical tanker operated by IONIA, pled guilty to covering-up ocean dumping of waste oil by making false entries in a ship log and presenting that log to the United States Coast Guard in the course of an inspection required before docking at a United States port. The guilty pleas were entered in federal court in Brooklyn, New York, before United States District Judge Allyne R. Ross. According to the felony information filed, the Alkyon, like other large ships, produce waste oil from operation of its engineering machinery.
Asian Spot LNG Prices Slip on Weak Demand
Asian spot LNG prices fell this week on poor demand from major gas-consuming regions despite a slew of new purchase tenders. The May spot LNG contract fell by $0.25 cents to $5.40 per million British thermal units (mmBtu), with new production coming on stream in Australia and the United States. Analysts and traders mainly blamed low demand for driving prices lower. In the Middle East, Abu Dhabi was staying on the sidelines of the market and new solar power capacity in Dubai was eroding gas demand there.
United Defense to Acquire United States Marine Repair
United Defense Industries announced that it has agreed to acquire closely held United States Marine Repair, Inc., a provider of non-nuclear ship repair, modernization, overhaul and conversion services to the United States Navy, for $316 million. Based in Norfolk, Va., United States Marine Repair serves defense and commercial customers at six strategically located ship repair operations in the major ports of Norfolk, Va.; San Diego, San Francisco and San Pedro, Calif.; Pearl Harbor, Hawaii; and Ingleside, Texas. In addition to the company's primary customer, the U.S. Navy, its current customers include the Military Sealift Command, the U.S. Army, the Maritime Administration, the U.S. Coast Guard, and commercial cruise lines such as Holland-America and Royal Caribbean.
Japanese Company Pleads Guilty to Illegal Dumping
Karin J. Immergut, United States Attorney for the District of Oregon, Debra W. Yang, United States Attorney for the Central District of California, Donald P. Sims, Special Agent in Charge of the Portland Area Office, Criminal Investigation Division of the United States Environmental Protection Agency (EPA-CID), United States Coast Guard Rear Admiral Jeffrey Garrett, Commander 13th Coast Guard District, and United States Coast Guard Captain Paul Jewell, Captain of the Port, Portland, announced today that Fujitrans Corporation, a Japanese transportation company, pled guilty to four felony charges for violating the Act to Prevent Pollution from Ships, Title 33, United States Code, Section 1908(a) and Title 33, Code of Federal Regulations, Sections 151.25(a), (d) and (h).
Total Seeking to Buy Stake in Iranian LNG Project
French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported. It has signed an agreement with Iranian authorities for a 50 per cent stake in Iran’s South Pars gas field project which will developed at an investment of $4 billion. Sources told Reuters in February that Total was in talks to buy a multi-billion dollar stake in Iran's partly-built LNG export facility.
Renewed Effort to Save SS United States
As momentum builds for the effort to save and repurpose the greatest American ocean liner ever built, the SS United States Redevelopment Project (SSUSRP) announced that it has named New Canaan Advisors LLC (NCA) as real estate advisors to a growing team leading this exciting redevelopment program. New Canaan Advisors will assist the SSUSRP on a number of aspects related to transforming the historic ship into a stationary, multi-purpose waterfront destination. The SS United States, which will celebrate the 60th anniversary of its maiden voyage this year, remains the largest passenger vessel ever constructed in the United States. At nearly 1,000 feet long, she remains the fastest ocean liner to cross the North Atlantic and one of the last surviving of the great 20th Century liners.
Documentary Planned on SS United States
Reston, Virginia based company, Rock Creek Productions, Inc. is producing a historical documentary entitled The Big U. The film focuses on the life and times of the superliner SS United States and her Philadelphia born designer, William Francis Gibbs. The SS United States has been on the National Register for Historic Places since 1999. The filmmakers are aiming for a 2008 national release on PBS. “I sailed on the ship when I was a little boy, and it’s remained in the back of my mind all these years. I’ve learned what an instrumental figure Gibbs was in the success of our nation’s navy fleets at a time when the United States ruled the oceans. Now it’s time for America to hear and learn about these forgotten icons,” stated Rock Creek’s Vice President and Producer/Director Tim Phillips.
Five Indicted on Fraudulent Seamen Charges
The U.S. Attorney for the Southern District of Florida has stated that five people have been indicted for bringing aliens into the United States by falsely asserting that the aliens were seamen joining ships in U.S. ports. The indicted individuals allegedly prepared false identification documents and made false statements to government officials. If convicted, the defendants face between five and ten years' imprisonment and fines of $250,000 as to each count. Maria Machado Diaz, Larry Milton, Guillermo Vidaurre, Delber Diaz, and Marvin Joseph, Jr., are being charged with migrant smuggling. They are facing five and ten years' imprisonment and a fine of $250,000 as to each count. The agencies have been investigating Diaz and associates since October 2002.
News: Fraudulent Seamen Charges Brought on 5
The U.S. Attorney for the Southern District of Florida has stated that five people have been indicted for bringing aliens into the United States by falsely asserting that the aliens were seamen joining ships in U.S. ports. The indicted individuals allegedly prepared false identification documents and made false statements to government officials. If convicted, the defendants face between five and 10 years' imprisonment and fines of $250,000 as to each count. Maria Machado Diaz, Larry Milton, Guillermo Vidaurre, Delber Diaz, and Marvin Joseph, Jr., are being charged with migrant smuggling. They are facing five and 10 years' imprisonment and a fine of $250,000 as to each count. The agencies have been investigating Diaz and associates since October 2002.
Merchant Marine Ceremony to be Held
On June 12, there will be an observance at the United States Navy Memorial honoring members of the United States Merchant Marine who sacrificed their lives, and to honor all who rallied to defend the cause of liberty and human dignity. The United States Navy Memorial honors all men and women in all sea services.