Global LNG Deals Set Bullish Tone as Peru Export Halt Tightens Market
Asian spot LNG prices stepped higher this week, shrugging off months of weakness, as Royal Dutch Shell replaced lost output from its Peru plant via spot markets and as a flurry of higher-priced deals surprised traders. Peru's liquefaction plant suspended loadings for several weeks without explanation, exerting strain on Shell, which is the sole exporter of Peruvian LNG and was forced to pick up replacement supply on spot markets.
Svitzer Bags FSRU Support Contract in Bangladesh
Svitzer will provide marine support services for the Excelerate Energy FSRU at Bangladesh’s first liquefied natural gas (LNG) import terminal. Excelerate Energy…
Hampton Roads Transit Christens New Ferry
Virginia’s Hampton Roads Transit (HRT) has christened its newest passenger ferry, the first of three to be delivered to the agency as part of a $7 million program to replace the fleet’s aging vessels, the newest of which was delivered in 1990 and the oldest of which has been in service since 1982. Designed by BMT and constructed by Armstrong Marine in North Carolina, the new vessel is a 149-passenger…
Tanker with Disputed Kurdish Oil Reappears off Malta
The Neverland tanker has reappeared off the coast of Malta after going off radar near Canada on June 30, when it was chartered by oil trader Vitol carrying Iraqi Kurdish crude oil…
Dredger Newbuild Heads to Australia
A newly built Damen Trailing Suction Hopper Dredger (TSHD) 650 has completed sea trials in Shanghai and is now underway to new owner, Gippsland Ports in Australia on her own keel. The TSHD, named Tommy Norton, is the first Damen dredger built for Australia. Having left Shanghai on July 14, a Damen team is sailing Tommy Norton approximately 5,000 nautical miles over a period of approximately 30 days to reach Australia.
Activists Protest near Oil Rig in Norway's Arctic Sea Area
Environmental activists protested on Friday near an offshore rig contracted by Statoil in the remote Norwegian Arctic, where the firm is looking for oil and gas deposits.
A Significant Date for Subchapter M
July 20 marks a milestone in Subchapter M implementation. Towing vessels with keels laid or major conversions on or after July 20, 2017 are required to meet 46 CFR Subchapter M and obtain a Certificate of Inspection (COI) prior to operating. Additionally, starting July 20, 2018, a portion of existing towing vessels will have one year to meet all of Subchapter M and obtain COIs. By July 19, 2022, 100 percent of the towing vessels must have valid COIs on board.
Baltic Index Win Streak at 9 Straight Days
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday for the ninth straight session, on higher rates for capesize and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.35 percent, at 977 points, touching its highest in more than two months. The capesize index climbed 61 points, or 5.58 percent, to 1,154 points.
VLCC Outlook Brightens Slightly
Rate correction likely after low S-Oil charter drags market. Freight rates for very large crude carriers (VLCCs) could see a small respite next week, building on the slight improvement seen in the last two days although sentiment is likely to remain pessimistic of any real recovery, brokers said on Friday. "There was a large drop on Tuesday when South Korea's S-Oil fixed at 45.50 (on the Worldscale measure). But rates are now correcting," a Singapore-based supertanker broker said.
Schlumberger to Acquire Majority Stake in Eurasia Drilling
Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV. The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial terms of the deal were not disclosed since it is subject to approval. The agreement, if approved, would extend a strategic alliance with Schlumberger that dates to 2011, Eurasia added.
Rotterdam Port Throughput Up by 3.9%
With an increase in throughput of 3.9%, the port of Rotterdam can look back a good first half year. There was growth in eight of the ten market segments. The only falls were in the volumes of mineral oil products and other liquid bulk. In particular, the volume of containers handled (9.3% in TEU, 10.4% in tonnes) was the determining factor for the overall growth in throughput. Dry bulk increased (5.2%), liquid bulk decreased slightly (-1.0%) and break bulk was very much on the rise (10.8%).
Kinkasan Maru Gets Ship Heritage Certificate
Mitsui O.S.K. Lines (MOL) announced that the engine control console installed on the bridge of the Kinkasan Maru was selected for a "Ship Heritage Certificate" from the Japan Society of Naval Architects and Ocean Engineers (JASNAOE). Kinkasan Maru (1961-1979) was a general cargo ship, built at Mitsui Engineering & Shipbuilding Tamano Shipyard in 1961, and operated by MOL. The society noted that the Kinkasan Maru's system represented a pioneering step in the development of automated engines.
Australia Conducts Amphibious Task Group Drill
Australia’s amphibious capability was put to the test recently as the Amphibious Task Group Headquarters took charge of the largest amphibious assault conducted by an Australian force for 70 years as part of Exercise TALISMAN SABER. The assault, led from amphibious sssault ship HMAS Canberra, was a significant milestone in the Australian Defence Force’s development of a high end amphibious warfare capability.
Shipwreck Recovery to Commence in August
Florida-based Swordfish Partners and Deep Blue Exploration have contracted Blue Water Ventures International to recover potentially valuable artifacts and coins from a shipwreck site off the coast of North Carolina the parties believe to be the 1838 sinking of the steam paddle wheeler, Pulaski. Endurance discovered the site of the loss and the shipwreck is currently subject of a Swordfish Partners admiralty claim in the U.S. District Court for the Middle District of Florida, Tampa.
Golden Ocean Adds Golden Keen
Golden Ocean Group (GOGL) has announce that it has taken delivery of the last vessel, Q Keen (to be renamed Golden Keen), hence all 16 vessels are now delivered. Golden Ocean has issued 1,050,000 consideration shares to Quintana Shipping Ltd. and associated companies in exchange for the vessel. In a stock exchange filing the reference is made to the stock exchange notice dated March 14, 2017 where…
Cargotec Sales Figures Plummet
Cargotec Corporation said that the orders received for H1 for the period of January-June 2017 decreased 4 percent and totalled EUR 1.7bln (USD 1.9bln). The total sales declined 5 percent and totalled EUR 1,638 for the period. However, Cargotec reiterates its outlook published on 8 February 2017 and expects its operating profit excluding restructuring costs for 2017 to improve from 2016 (EUR 250.2 million).
US Navy to Commission Gerald R. Ford
The Navy will commission its newest aircraft carrier, the future USS Gerald R. Ford (CVN 78), during a 10 a.m. EDT ceremony Saturday, July 22, at Naval Station Norfolk. USS Gerald R. Ford (CVN 78) is the lead ship of the new Gerald R. Ford class of aircraft carrier, the first new class in more than 40 years and will begin the phased replacement of Nimitz-class carriers when the ship is commissioned.
Oil Spill Response Workshop in Senegal
The use of oil spill dispersants, which can be used to break down an oil slick into smaller droplets as part of response efforts, is the subject of a workshop taking place in Dakar, Senegal (17-20 July). Participants from 11 countries (Benin, the Congo, Côte d’Ivoire, Democratic Republic of the Congo, Gabon, Guinea, Guinea-Bissau, Mauritania, Sao Tome and Principe, Senegal, Togo) are attending the sub-regional workshop…
India Government Sops for Ship-Repairing Facilities
In order to promote ship building and ship-repair industry in India, the government has formulated a policy of financial assistance for shipbuilding for a period of ten years for contracts signed between 1st April, 2016 and 31st March, 2026. The Financial assistance at the rate of 20% of the contractual price of a vessel, fair price, or actual payments received by the shipyard is payable after delivery of the vessel and as per the guidelines issued by the Ministry of Shipping.
New Tug Joins Harley Marine Fleet
Harley Marine Services has welcomed its newest vessel, Dr Hank Kaplan, to its Puget Sound fleet on June 22. The vessel has a length of 80', a beam of 36' and a depth of 13'7" and is equipped with two 3516C marine propulsion engines that deliver a combined 5,350 HP. The vessel also features the brand new Cat MTA 524-T azimuth thrusters, which were specially designed for high performance tractor tugboats.