Quebec Eyes More Federal Shipbuilding Contracts
Quebec's National Assembly unanimously adopted a motion in support of the Federal government's reform or 'refresh' of the National Shipbuilding Strategy.The motion called upon the federal government to endorse the House of Commons and Senate's recommendations to proceed immediately with the construction at Davie Shipbuilding of a second Resolve-Class Naval Support Ship as well as a new fleet of icebreakers for the Canadian Coast Guard.During 2017…
Sound Energy Starts Drilling Well in Eastern Morocco
Moroccan focused upstream gas company Sound Energy confirmed that the drilling at TE-10, the second well of a planned three exploration well campaign in Eastern Morocco, has commenced.The TE-10 well will test the North East Lakbir prospect in the Company's Greater Tendrara permit and is located approximately 25 kilometres to the northeast of the recently awarded Tendrara production concession.The well…
Australia Becomes No.1 LNG Exporter
Australia has overtaken Qatar as the world's largest exporter of liquefied natural gas (LNG) for the first time in November, Reuters reported quoting data from Refinitiv Eikon.According to the data provided, Australia shipped out 6.7936 million tonnes of LNG in Novemebr, while Qatar exported 6.2025 million tonnes.The report said that Australia's LNG exports jumped by over 15 percent from the previous month…
Egypt Okays BP, Mubadala Acquisition of Stake in Eni's Noor Concession
Egypt’s petroleum ministry has signed an agreement for UK Petroleum giant British Petroleum (BP) and UAE investment fund Mubadala to buy a 45 percent stake in the country's Noor offshore natural gas concesion in the Mediterannean from Italy’s Eni.In the concession, which is in participation with Egyptian Natural Gas Holding Company (EGAS), Eni as operator through its subsidiary, IEOC, now holds a 40 percent interest.
Tepco Launches First Commercial Offshore Wind Farm
Japan's largest power company group Tokyo Electric Power Company (Tepco) announced that the company’s first commercial offshore wind power facility will launch on January 1, 2019.According to a press release from the utility giant, since 2013, Tepco has been conducting Japan’s first demonstration test of offshore wind power facility (rated output: 2,400 kW; bottom-fixed foundation turbine), which is located south of Choshi…
Moody's Downgrades Maersk
Moody's Investors Service has downgraded ratings for AP Moller-Maersk after a review of the Denmark-based shipping and oil company. Moody's expressed concerns about lower economic growth and the US-China trade war."The downgrade reflects our expectation that Maersk will face increased market and execution risks and, as a result, operate at a higher leverage than is commensurate with a Baa2 rating for a company in such a volatile and cyclical business as container shipping…
Tower Resources Hires Vantage Drilling for Cameroon Well
UK-based Tower Resources has announced it has contracted US offshore driller Vantage Drilling International to provide drilling operations at the NJOM-3 well offshore Cameroon. The well is located in Tower’s 100%-owned Thali licence.The Topaz Driller is a Baker Marine Pacific Class 375 jack-up, which was recently mobilised to Cameroon by NewAge as operator for the Etinde license for two appraisal wells and is currently employed in Gabon…
Swissco Sells Vessels to Allianz Middle East
Singapore’s Swissco Holdings, currently under judicial management, announced that it is disposing of a substantial part of its offshore support vessels division, which is expected to help reduce the group's liabilities.UAE's Allianz Middle East Ship Management has signed a deal to buy most of the OSV fleet of Swissco, said a stock exchange annoucement from the restructuring vessel-owner."The Vessels are being sold on an “as-iswhere-is” basis.
Estonian Port Offers Discounts to Green Ships
Estonian port authority Tallinna Sadam (Port of Tallinn) announced that starting from next year the ships that have joined the Environmental Ship Index (ESI) can apply for discount on tonnage fees of up to 8%.The Baltic Sea port said in a press release that the new port pricing system involving differentiated port fees is aimed at encouraging shipping companies to adopt environmentally friendlier technologies…
SHI Bags $358m Order for 2 LNGC
South Korean shipyard Samsung Heavy Industries (SHI) revealed that it has clinched a KRW 400bn (USD358 million) deal to build two LNG carriers.According to a press release from the Korean shipbuilder, the contract, with an unnamed Asian shipper, calls for Samsung Heavy to deliver the vessels by the end of 2021. The deal also includes an option for four additional orders that could be made next year, it said."SHI's new order total for 2018 now stands at 44 vessels and 5.4 billion USD.
AGR, First Geo to Merge
Norwegian offshore oil and gas consultancy and services companies First Geo (owned by Akastor), and AGR Bidco are set to merge."Akastor AS (Akastor), has entered into agreements with Silverfleet Capital, DNB Bank ASA and Nordea Bank Abp, filial i Norge (together the AGR stakeholders) to combine AGR Bidco AS (AGR) with First Geo AS," said a press statement.The Transaction will be carried out primarily as an asset deal…
IWAI Orders Six Methanol-Fuelled Vessels
The Inland Waterways Authority of India (IWAI) has planned to retrofit its work boats with green fuel and also placed orders with Cochin Shipyard Ltd (CSL) for procuring six new vessels, based on methanol mix.CSL will get the work done by Hooghly Dock and Port Engineers Ltd (HDPEL) in Howrah, with which it has formed a joint venture, said sources.The PTI reported that IWAI has also planned to retrofit…
UNCTAD Calls on Ports to Address Climate Change
About 80% of world trade is carried by sea, but the maritime industry handling these goods is on the frontline of climate woes, unless it adapts - fast.United Nations Conference on Trade and Development (UNCTAD) said that the transformation is needed if the world trade system is to cope with the projected impacts of climate change.“The hardest hit areas, coastlines, will affect us all since the lion’s share of trade itself is managed through international shipping and ports…
Swedish Club Maintains Zero Per Cent General Increase
The mutual marine insurance company Sveriges Angfartygs Assurans Forening (The Swedish Club) has announced a zero per cent general increase for the forthcoming P&I year for the fourth year in succession.The decision was made by the Club’s board in consideration of the general market view that premiums are not in proportion with expected claims outcome.Lars Rhodin, Managing Director of The Swedish Club…
Tellurian in LNG Supply Deal with Vitol
Tellurian announced that its subsidiary, Tellurian Trading, has entered into a Memorandum of Understanding (MOU) with Vitol to supply 1.5 million tonnes per annum of liquefied natural gas (LNG) from Tellurian Trading’s LNG offtake capacity at the proposed Driftwood LNG export terminal.According to a press release, the transaction price is based on the Platts Japan Korea Marker (JKM) and is for a minimum term of 15 years.Under the MOU…
McLane Research Laboratories Announces New WTS-LV Deep
The manufacturer time-series oceanographic profilers, samplers, and flotation McLane Research Laboratories announced a new a 7,000m (23,000ft) deep option for WTS-LV samplers. The WTS-LV Deep option is available on the Standard, Dual Filter, and High Capacity WTS-LV models, and can also be retrofit to existing WTS-LV systems.“The LV Deep option provides 35% greater depth capacity and has been a customer-requested enhancement for some time.” says McLane General Manager Jon Mogul.
Oman Signs Djibouti Code of Conduct
Oman has become the 16th signatory to the Jeddah Amendment to the Djibouti Code of Conduct – the instrument developed and adopted by countries in the Western Indian Ocean and Gulf of Aden that has been a key factor in repressing piracy and armed robbery against ships operating in that region.Comoros, Djibouti, Ethiopia, Jordan, Kenya, Madagascar, Maldives, Mauritius, Mozambique, Oman, Saudi Arabia…
International Maritime Prize Goes to Birgit Sølling Olsen
The prestigious International Maritime Prize for 2017 has been presented to Mrs. Birgit Sølling Olsen, former Deputy Director-General of the Danish Maritime Authority.International Maritime Organization (IMO) Secretary-General Kitack Lim presented the prize on Thursday (6 December) at the annual IMO Awards ceremony,“Mrs. Olsen has had a distinguished career in the maritime field and made an outstanding contribution to the objectives of IMO.
Dubai's DP World Completes Danish Unifeeder Acquistion
Global port operator DP World says it has completed the acquisition of Danish logistics firm Unifeeder for $748 million.DP World’s full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, but finalized on Thursday."DP World PLC is pleased to advise that it has closed the transaction to acquire 100% of Unifeeder Group from Nordic Capital Fund VIII and certainminority shareholders…
Chinese Consortium Bags USD 1.4bln Panama Bridge Project
The government of Panama gave a US$1.4 billion contract to build a bridge over the Panama Canal to Panama Cuarto Puente, a Chinese consortium.Panama Cuarto Puente consortium or so-called Panama Fourth Bridge Consortium, composed of China Communications Construction Company (CCCC) and its unit China Harbour Engineering Company (CHEC), will design and build a bridge over the Panama Canal.According to a report in Reuters, the 6.5-km (4-mile) bridge will have six car lanes and a two-way metro line.
