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BP to Defend its Rights in Venture Global LNG Dispute
BP will defend its rights "to the absolute fullest" in an arbitration case against U.S. exporter Venture Global LNG over failing to supply contracted cargoes, Chief Executive Officer Bernard Looney said on Tuesday.Oil companies Shell SHEL.L and have separately filed for arbitration against Venture Global LNG over failing to supply contracted cargoes, even as it sold to non-contract customers while prices were soaring."You can expect us to defend our legal rights to the absolute fullest…
Container Rate Collapse Deepens as New Capacity Enters the Market
According to Xeneta’s Shipping Index (XSI), global long-term shipping rates sank to a two-year low in July, falling 9.5% since June, plummetting 57.8% since the same period in 2022. And just as rates hit a fresh low, the bad news for carriers could continue for some time as June saw the highest ever monthly deliveries of new ships, with more than 300,000 TEU of capacity from a total of 40 new ships added to the market.
LNG Barge Clean Canaveral Bunkers First Cargo Ship in Canaveral
Liquefied natural gas (LNG) bunker barge Clean Canaveral completed its first barge-to-ship bunkering of a cargo vessel at Port Canaveral’s South Cargo Berth 4. JAX LNG, along with Polaris New Energy, handled the LNG refueling of the Damia Desgagnés on the ship’s inaugural call to Port Canaveral. The asphalt/bitumen tanker Damia Desgagnés completed her discharge of cargo and then JAX LNG proceeded with Desgagnés’s first barge-to-ship bunkering of LNG.
First ME-GA Completes Gas Trials
MAN Energy Solutions has announced that the first ME-GA engine has completed gas trials aboard an LNG carrier built by Hyundai Samho Heavy Industries (HSHI) for Norwegian shipping company, Knutsen OAS Shipping.Bjarne Foldager, Head of Two-Stroke Business, MAN Energy Solutions, labeled the successful gas trial as an important milestone in the development of the ME-GA engine. “We developed this engine for easy application to most contemporary LNG carrier designs and…
Bunker Fuel Contamination Hits US Gulf Coast
Contaminated marine fuels from several suppliers led to fouled engines on about a dozen vessels operating from the U.S. Gulf Coast this spring, according to Lloyd's Register and marine fuel testing service VPS.The tainted fuel was the first major occurrence along the U.S.
Shell, BP Pursue Arbitration Claims Against Venture Global LNG
Top LNG traders Shell and BP have separately filed for arbitration against U.S. exporter Venture Global LNG for failing to supply contracted cargoes, even as it sold to non-contract customers as prices soared, four people familiar with the matter said.A Venture Global LNG spokesperson did not comment on the Shell and BP claims. Last month, the company said it was in full compliance with terms of its…
Maersk Orders Six Methanol-powered Container Vessels
Shipping group A.P. Moller-Maersk on Monday said it had ordered from China's Yangzijiang Shipbuilding Group six mid-size container vessels capable of running on green methanol.The ships, which run on dual-fuel engines that can operate on both fuel oil and methanol, can carry upwards of 9,000 containers. Maersk, which ordered its first methanol-powered vessel in 2021, now has a total 25 methanol-powered ships on order."With this order…
NORDEN Orders Six Supramax Bulkers
Danish shipowner NORDEN has recently placed a newbuilding order for six dry cargo vessels from Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), a joint venture between COSCO Shipping and Kawasaki Heavy Industries, for delivery in the next two to three years. All six orders are for Supramax vessels with a capacity of 64,000 deadweight tonnes.NORDEN's Head of Asset Management, Henrik Lykkegaard Madsen…
Algoma Orders Two Tankers from Hyundai Mipo
Algoma Central Corporation announced it has placed an order with Hyundai Mipo Shipyard in South Korea to build two 37,000 DWT ice class product tanker vessels for a total investment of CA$127 million (about US$96.2 million).These new ships will be entered on long-term time charters to Irving Oil under Canadian flag, servicing the energy company’s refinery in Saint John, New Brunswick, with deliveries to ports in Atlantic Canada and the U.S.
Cadeler and Eneti Agree to Merge
Offshore wind turbine and foundation installation companies Cadeler and Eneti announced they have agreed to merge through a stock-for-stock exchange.The combined company will be named Cadeler, headquartered in Copenhagen, Denmark, with its shares to be listed on the New York Stock Exchange (NYSE) in addition to its current listing on the Oslo Stock Exchange (OSE) with a proforma market capitalization in excess of €1.2 billion.
Russia Resumes Oil Exports to North Korea After Long Pause
Russia resumed oil exports to North Korea in December, United Nations data shows, the first such shipments reported since 2020 as the two countries deepen ties and the United States flags the risk of arms supplies to Moscow.North Korea has been seeking closer relations with the Kremlin and backed Moscow after it invaded Ukraine last year, blaming what it called the "hegemonic policy" of the United States and the West.Russia had exported 67…
Alfa Laval to Deliver the World’s First Methanol-Fired Steam Boiler
Alfa Laval has introduced a methanol-fired Aalborg boiler that accommodates a wide range of fuel types including LNG and methanol.It will be the first time a methanol boiler has been installed onboard a ship, and Alfa Laval has secured significant orders for the new boiler including for container ships, tankers and cruise ships. Deliveries of the methanol boilers are scheduled to commence in late 2023.Alfa Laval says its “ready boiler” concept provides a future-proof platform…
Kongsberg to Design and Equip Suez Canal's New Salvage Tugs
Kongsberg Maritime announced it has won a contract to provide the design and equipment for two powerful salvage tugs being built by Alexandria Shipyard as main contractor on behalf of the Suez Canal Authority. The tugs will be based on Kongsberg Maritime’s UT 722 CDT Design.The UT 722 tugboat design has a length of 71.6 meters, bollard pull of approximately 200 tonnes, and it can operate independently…
Minerva Bunkering Starts Service in Suez Canal, Egypt Ports
Minerva Bunkering has completed its first ten bunker deliveries in Egypt, including to Hafnia’s MV Hafnia Azurite and Cargill Ocean Transportation’s MV Gat Feeling.
Rem Offshore Chooses Vard Electro's SeaQ Integrated Bridge for New CSOV Vessel
Vard Electro’s SeaQ Integrated Bridge solution is being implemented in the offshore wind sector for the first time, following installation on Rem Offshore’s newbuild construction service operation vessel (CSOV) Rem Power to assist in optimizing environmental performance.“We are making strong investments in new low-emission technologies to cut the environmental impact of offshore wind operations in line with increasingly stringent regulations and requirements from clients…
Coastal Shipping Can Help Cut NZ’s Freight Transport Emissions
A shift to coastal shipping and rail could cut NZ’s freight transport emissions – why aren’t we doing it?According to a recent study, coastal shipping produces a fifth of the carbon emissions (well-to-wheel) of road freight. Rail also performed well, with about a quarter of trucking emissions.Despite this, trucking accounts for nearly 80% of New Zealand’s heavy goods transport, and a 94.5% share of…
Poland to Allow Military to Sink Enemy Ships Targeting Baltic Energy Infrastructure
The Polish government has approved draft legislation that would allow the military to sink an enemy ship targeting a key gas pipeline from Norway via the Baltic Sea following NATO's warning that Russia might sabotage undersea energy infrastructure. In "exceptional situations", and when other options had been exhausted, the military would be allowed to foil a terrorist attack by sinking an enemy ship or airship, the government said on Thursday.
Equinor's Hammerfest LNG Plant Offline after Outage
Equinor's Hammerfest LNG plant in Arctic Norway suffered a compressor failure on Thursday and is expected to remain offline until May 19, Norwegian gas system company Gassco said in a regulatory note on Friday. The outage was caused by a technical problem with a heat exchanger that occurred during a restart of the plant following a one-day maintenance outage, an Equinor spokesperson said. The plant will remain offline until repairs have been carried out, the spokesperson added.
Ship Recycling Challenges Mount in Bangladesh
The results of this most recent market decline have been on full display this week as those vessels previously sold at higher prices are now struggling to deliver in a U.S. dollar starved Bangladesh (and Pakistan) and end buyers are starting to (expectedly) create unnecessary turbulence at the waterfront, especially on those high-priced incoming units.Steel plate prices continue to dither across all markets (including Turkey) over the past month or so…
2023 US Shipbuilding Report
Much has changed since Marine News’ 2022 shipbuilding report published in March last year, and business opportunities in certain market segments continue to grow. But the shipyards that are looking to cash in are still facing many of the same challenges.For example, many American shipyards and their partners throughout the shipbuilding supply chain are still finding it difficult to attract and retain the workers they need.