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Dominion 'on track' with $9.8B VA Offshore Wind Farm
Dominion Energy executives said on Wednesday that the electric utility's $9.8 billion offshore Virginia wind farm is on track and on budget, having recently entered a critical phase of the environmental review process.The roughly month-long crucial public comment period on the environmental impact study of the 2.6 gigawatt project will end in February, Dominion Chief Executive Officer Robert Blue said on the Richmond, Virginia-based company's quarterly earnings call.
Maritime Transport: Fuels, Emissions and Sustainability
International trade by sea has long been a key part of the world economy and approximately 90% of traded commodities is reliant on shipping. Once wind-propelled in the days of sail, the current generation of ships now heavily rely on fossil fuels. Fossil fuel propulsion contributes to global warming with carbon emissions approximating 940 MtCO2e per year and also has health implications for communities surrounding ports through the release of air pollutants.
Ship Recycling Market Continues to Improve
Another solid showing from sub-continent markets has given encouragement to ship owners and cash buyers, to start testing potential prices with firm candidates. Indeed, several deals have been concluded off the back of these improved numbers, including one more Capesize bulker at firm levels basis an ‘as is’ Singapore delivery.Now that the Chinese New Year holidays have concluded, the expected bounce in freight markets has yet to materialize…
Container Carriers Brace for a 'Stormy 2023' says Xeneta
January proved to be a dramatic month for long-term ocean freight rates, with the latest data from the Xeneta Shipping Index (XSI) showing the largest ever month-on-month declines. According to the XSI, average long-term contracted rates dropped by 13.3% in January, the fifth month in a row of falling prices on the index. Xeneta warns there is little sign of change ahead in what looks set to be a challenging year for carriers.“Global demand has fallen away…
From Paper to Pixels: Embracing the Digital Logbook
In an era of ever-smarter shipping, one key area of vessel and fleet administration appears stuck in the dark ages. Pierre Dominé explainswhy Stolt Tankers is rapidly transitioning to digital logbooks, unlocking a broad range of big data benefits.Although the switch from paper to digital logbooks is yet to be mandated, Pierre Dominé, Quality Assurance & Investigation Specialist, Stolt Tankers, sees no need to wait.
Venezuela's PDVSA Tightens Oil Prepayment Rules
Venezuela's state oil firm PDVSA is toughening terms for buyers after a month-long halt to most exports of crude and fuel, demanding prepayment ahead of loadings in either cash, goods or services, company documents showed.PDVSA's new Chief Executive Pedro Tellechea put the move in place this month. It reinforces measures implemented last year after several buyers skipped out on payments for oil, which provides most of the South American country's income.After taking the helm…
Fatigue Led to OSV Striking GoM Production Platform -NTSB
Crew fatigue led to an offshore supply vessel striking an oil and gas production platform in the Gulf of Mexico in 2021, the National Transportation Safety Board (NTSB) said Thursday.The offshore supply vessel (OSV) Elliot Cheramie was on its normal route between Port Fourchon, La. and the oil and gas production platform VR-397A in the Gulf of Mexico on June 25, 2021, with a crew of four and five offshore workers.
Shipping Still in Dark Over Clean Fuel Solutions, Industry Official Says
Shipping companies are still waiting for "real green" fuel solutions as part of decarbonization efforts to clean up the industry, a leading industry official said.Shipping, which transports around 90% of world trade and accounts for nearly 3% of the world's CO2 emissions, is under growing pressure from environmentalists to deliver more concrete action, including a carbon levy."We are still awaiting engine and shipbuilders to come up with real green solutions…
Third Floating LNG Terminal Arrives in Germany
A floating terminal to import liquefied natural gas (LNG) arrived in the port of Brunsbuettel on Friday, the third such vessel to start up in recent weeks as Germany…
Production Floater Market Outlook Brightening
IMA/WER has just completed its Annual Review and Five-Year Forecast of Orders for Floating Production Systems. The report:•provides a detailed look back at developments in the deepwater sector over the past year,•assesses 12 underlying market drivers that will determine the pace of production floater orders over the next five years,•identifies specific projects in the planning queue that will likely…
Vessel Seeks Other Port on Expected Freeport LNG Delay
At least one liquefied natural gas (LNG) vessel gave up on Freeport LNG's export plant in Texas by Thursday after a growing number of analysts and other sources…
VIDEO: Jan de Nul's Les Alizés Vessel Departs China for First Offshore Wind Mission in Germany
Offshore installation company Jan De Nul said Thursday that Les Alizés, its next-generation heavy lift vessel, had sailed away from the CMHI Haimen Shipyard in China and is currently heading for Europe.The vessel was delivered by the shipyard on January 16 and departed Thursday.Les Alizés is designed for loading, transporting, lifting, and installing offshore wind turbine foundations. The main features are a main crane of 5…
Heger Dry Dock Gets to Work on AFDM for U.S. Navy
Born in 1998 and celebrating its 25th anniversary in 2023, Heger Dry Dock holds a unique position as one of the few engineering firms in the world dedicated to the design and lifecycle engineering of drydocks, primarily floating dry docks. Premal Shah, P.E., President and Principal Engineer, discussed some of the company’s recent contract wins with Maritime Reporter & Engineering News.Specializing in the design and lifecycle maintenance of floating dry docks…
Russia Boosts Baltic Oil Exports
Europe's ban on seaborne Russian oil imports from Dec. 5 has prompted Moscow to divert its crude flows to Asia and failed to curb Russian supplies, according to traders and data from Refinitiv Eikon.Supplies of oil from Russia and Kazakhstan from the Baltic Sea ports of Ust-Luga and Primorsk rose in the first half of January to 3.4 million tonnes from 2.5 million tonnes in the same period of December.That includes 3.1 million tonnes of Russian oil…
Venezuela's PDVSA Freezes Most Oil Exports for Contract Reviews
The new head of Venezuela's state oil company PDVSA has suspended most oil export contracts while his team reviews them in a move to avoid payment defaults, according to an internal document seen by Reuters and people familiar with the matter.Since U.S. trading sanctions were first imposed on PDVSA in 2019, the company has increasingly resorted to little known middlemen to allocate its oil exports…
Kazakhstan Recruits Abu Dhabi Ports to Develop Caspian Tanker Fleet
United Arab Emirates' Abu Dhabi Ports will help Kazakhstan to build a tanker fleet in the Caspian Sea, reducing the former Soviet republic's dependence on Russian transit, Kazakh state oil company KazMunayGaz said on Tuesday.KazMunayGaz and Abu Dhabi Ports have agreed to set up a joint venture, it said, adding that it will also help to support offshore upstream projects and look into buying container…
Iranian Oil Exports End 2022 at a High, Despite No Nuclear Deal
Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite U.S. sanctions, according to companies that track the flows, on higher shipments to China and Venezuela.Tehran's oil exports have been limited since former U.S. President Donald Trump in 2018 exited a 2015 nuclear accord and reimposed sanctions aimed at curbing oil exports and the associated…
Coast Guard Cutter Alex Haley Repairs Completed
The crew of the Coast Guard Cutter Alex Haley returned to homeport at Coast Guard Base Kodiak, Alaska, on Thursday, following an extended seven-month dry dock maintenance period in Seattle.While in dry dock, the crew and contractors successfully completed more than $6 million worth of repairs.The engineering department oversaw 76 work items including major overhauls on the cutter’s controllable pitch propeller system…
What Does Climate Change Mean for Extreme Waves?
In 80% of the world, we don’t really know.Across much of the world’s oceans, waves are getting bigger. In the Southern Ocean, where storm-driven swell can propagate halfway across the world to California, the average wave has grown about 20cm in the past 30 years.These changes are part of climate change, and are likely to continue well into the future. If you’re making long-term plans near the sea – like building ships…
Container Shipping Turmoil Spills Over Into 2023, says Xeneta's Sand
As container shipping demand continues to fall into the New Year, Xeneta Chief Analyst Peter Sand weigh in with his insights on the pace and direction of spot and contract rates; the likelihood of ship lay-ups and scrapping in 2023; plus the impact that West Coast port labor strife will have on the industry as a whole, as the East Coast U.S. emerges as the dominant player.To start us off, what do you…