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Western Tankers Ramp Up Russian Oil Shipments
Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow's flagship Urals grade held below an international price cap, according to market sources and Eikon data.The Group of Seven nations (G7), Australia and the 27 European Union countries placed a price limit on Russian crude oil of $60 per barrel on Dec. 5.The cap allows non-EU countries to import seaborne Russian crude oil…
Take a Hyke: Swarm Tech for Ferries
Apps, big data, tech, software and cutting-edge innovation were hallmarks at last year’s Sea Tech conference in Brest, France. During one session, for example, on electronic charting, the speakers made reference to “data as fuel.” For vessel operations, data was called a resource just like diesel or LNG or lithium batteries. The reference was usually to big data, i.e., almost boundless information flowing like a gusher from a firehose…
Electricity Constraints Force Canada's First LNG Terminal to Delay Renewable Shift
Shell PLC's LNG Canada export project in British Columbia plans to start building its proposed second phase with natural gas-powered turbines and switch to electricity as more renewable power becomes available, a top executive said, a decision that means the expansion project will initially generate high greenhouse gas emissions.LNG Canada, in which Japan's Mitsubishi Corp owns a 15% stake, is set to be Canada's first liquefied natural gas (LNG) export terminal.
Wilhelmsen Acquires Tank and Cargo Hold Cleaning Firm Navadan
Wilhelmsen Ships Service announced it has entered into an agreement to acquire tank and cargo hold cleaning company Navadan.Wilhelmsen Ships Service will take 100% control of Navadan, which will retain its brand and operate as a fully owned subsidiary for the first period after the completion of the agreement. Completion of the transaction is subject to predetermined conditions and is expected to take…
Venezuela's Oil Exports Fall in Spite of Iranian Assist
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected to get a lift after the United States relaxed oil sanctions by authorizing some partners of state-run firm Petroleos de Venezuela (PDVSA) to resume taking Venezuelan crude.Iran expanded its role in Venezuela last year…
US Poised to Regain Crown as World's Top LNG Exporter
The United States is on track to become the world's biggest exporter of liquefied natural gas (LNG) this year - ahead of current market leader Australia - once a fire-idled Texas plant is restarted, according to Reuters data.A June fire sidelined Freeport LNG, the second biggest U.S. export facility, and cut U.S. exports of the fuel by about 2 billion cubic feet per day (bcfd). That outage dropped the United States behind top exporter Australia as global demand for the fuel boomed.In 2022, U.S.
Chinese Export Container Rates Plunge 27%
The bad news for liner operators appears to have no end. In a normal year, the weeks leading up to Chinese New Year (CNY) bring an increase in volumes and freight rates. So far, however, the lead-up to CNY in 2023 has been the worst in 13 years. Spot rates for containers loading in Shanghai will normally be 12% higher just before CNY than 10 weeks earlier. Similarly, average rates for all containers loading in China will normally end 4% higher.
What’s Next for Eastern Shipbuilding?
When Hurricane Michael slammed the Florida Panhandle in October 2018, the deadly category 5 storm inflicted billions in damages to the region, tearing apart homes and businesses in its path. Among those severely impacted was Eastern Shipbuilding Group, which suffered a nearly direct hit at its Allanton shipyard, located about 15 miles east of the company’s headquarters and main yard in Panama City.Eastern…
Putin Bans Exporting Russian Oil to Countries Implementing Price Caps
President Vladimir Putin on Tuesday delivered Russia's long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that abide by the cap. The Group of Seven major powers, the European Union and Australia agreed this month to a $60-per-barrel price cap on Russian seaborne crude oil effective from Dec. 5 over Moscow's "special military operation" in Ukraine.
Ship Recycling Endures a Turbulent 2022
Like much of the world, one word adequately describes the ship recycling market in 2022: turbulent.According to GMS, prices reached decade long peaks above $700/LDT in the first quarter of the year before crashing back down by about $200/LDT, with certain trades seeing below the $500/LDT barrier and even into the high $400s/LDT on certain occasions.On the West End, the situation was no different in Turkey…
US Defense Bill Amends the Jones Act Waiver Process
An obscure measure in the defense policy bill the U.S. Senate passed this week could make it harder for oil and liquefied natural gas transporters to get a waiver allowing them to ship fuel during emergencies, lobbyists and analysts said on Friday.The changes in the $858 billion annual defense spending bill passed late on Thursday came after lawmakers criticized Biden administration officials for September waivers allowing diesel deliveries to Puerto Rico, a U.S.
Russian Oil Sanctions Fuel Demand for Old Tankers
The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude.As Western shipping and maritime services firms steer clear of Russian oil to avoid falling foul of sanctions or harming their reputations, new companies have leapt into the void, and they're snapping up old tankers that might normally be scrapped.The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February.
Greek LNG Terminals in the Pipeline
As demand grows for liquefied natural gas in Europe in the wake of the war in Ukraine, Greece has relied heavily on its sole LNG terminal off Athens to replace Russian gas imports.Now it is looking to build new floating storage and regasification units (FSRUs) that could be operational by 2024.Here is information on the Revithoussa terminal and other planned projects:REVITHOUSSAGreece's sole operational…
Marine News' Top Vessels of 2022
The November edition of Marine News magazine highlighted the most notable newbuilds delivered in 2022. From sturdy and nimble workboats, to the first new Jones Act laker in a generation, each vessel on display showcases the industry’s engineering prowess and technological ingenuity, with the focus on improving efficiency in operations. The maritime industry has no shortage of challenges to overcome…
LNG Backlog at Spanish Ports Has Eased
Spanish gas grid operator Enagas said on Friday a backlog at its terminals that had forced it to warn it could reject deliveries of liquefied natural gas (LNG) had eased.On October 17, Enagas had issued a special situation notice due to unexpectedly full LNG tanks at its Spanish ports as mild weather hit demand for the fuel.Although the system operator expected the situation to end in early November, the overcapacity has lasted almost four weeks longer and has led to delays in planned offloading
Delfin Gets More Time to Build U.S. Gulf of Mexico LNG Export Plant
U.S. energy regulators on Friday extended until September 2023 the amount of time liquefied natural gas (LNG) developer Delfin LNG has to put the onshore part of its proposed Gulf of Mexico floating export project off Louisiana into service. The U.S. Federal Energy Regulatory Commission (FERC) said in its order that Delfin sought the extension in July. Delfin is one of several North American LNG export…
St Johns Ship Building Expands Capacity for Additional CTV Builds
Americraft Marine Group announced it is investing in its Palatka, Fla. based shipyard, St Johns Ship Building, to increase capacity for construction of crew transfer vessels (CTVs) and other vessels to serve the growing U.S. offshore wind industry.In addition to previous commitments from Americraft to its subsidiary shipyard, St Johns Ship Building has also received the final approval of a MARAD grant…
Safe Bulkers Lines Up More Scrubber Retrofits
In recent years, Greek shipowner Safe Bulkers has retrofitted Alfa Laval PureSOx exhaust gas cleaning systems on 20 of its bulk carriers. The company has just installed its 21st PureSOx scrubber, and four more retrofits are scheduled through the first half of 2023.Safe Bulkers is expanding the retrofit program for exhaust gas cleaning within its fleet. Having now retrofitted an open-loop PureSOx system on the MV Pelopidas…
US Container Freight is Shrinking
Container freight volumes at the largest U.S. ports were down 3.8% in September compared with the same month a year earlier, confirming the slackening of merchandise trade and downturn in the business cycle.The ports of New York-New Jersey, Los Angeles, Long Beach, Savannah, Houston, Norfolk, Charleston, Seattle and Oakland account for the overwhelming majority of container ocean freight into and out…
Singapore Marine Fuel Sales Hit One-year High in October
Marine fuel sales in Singapore surged to a one-year high in October, latest official data showed on Monday, as more competitive prices attracted ships to refuel at the world's top bunkering hub. October bunker sales totaled 4.25 million tonnes, climbing 7% from September, while vessel arrivals for bunkering at Singapore rose 9% month-on-month at 3,431 vessel calls, data from Singapore's Maritime and Port Authority showed.