Shipping Experts Tackle Problems in Asia
Maritime industry leaders have called for greater collaboration and consolidation in Asia to tackle challenges such as the rise over capacity, talent shortages and environmental sustainability, which are impacting the potential of the industry. Speaking at an industry insights briefing today ahead of the launch of Sea Asia 2015, the Maritime and Port Authority (MPA) of Singapore Assistant Chief Executive (Development) Tan Beng Tee…
Gudrun on Stream
At 7:25 a.m. on April 7, Statoil and its partners (GDF SUEZ and OMV) started production on the Gudrun oil and gas field in the North Sea. "Gudrun is the first new Statoil-operated platform to come on stream on the Norwegian continental shelf since 2005. This is a red-letter day for the company," said Arne Sigve Nylund, Statoil's executive vice president for the Development and Production Norway business area. The new field contributes to important production from the Norwegian shelf.
Maintenance Cuts Norway's Offshore Gas Output
Norway's gas output will be cut by 24 million cubic metres (mcm) per day due to maintenance at an offshore field on April 11-13, gas system operator Gassco said on Monday.
Vanishing Volatility Signals Oil Market Shift
The oil market has rarely been so quiet. Benchmark Brent has traded in a narrow range of $5 either side of $110 per barrel since the summer of 2012. Price volatility has fallen to some of the lowest levels since crude futures markets were established in the early 1980s. Oil prices have rarely been so stable for so long since the 1973 oil shock ended the long period of calm in the 1950s and 1960s and ushered in the era of OPEC dominance.
Yara Acquires Majority Stake in Green Tech Marine
Yara International will expand its emissions control business by acquiring a majority 63% stake in Green Tech Marine (GTM), a sulphur oxide (SOX) scrubber supplier to the marine industry. “New International Maritime Organization (IMO) regulations are being implemented, and combining GTM with our existing Nitrogen Oxide (NOX) portfolio will help the maritime industry cleanse their emissions and be compliant,” said Yves Bonte, Senior Vice President and head of Yara’s Industrial Segment.
Libya's Ports Prepare to Load Oil Tankers
Libya's Zueitina oil port prepared on Monday to load crude on tankers after the government reached a deal with rebels to reopen four terminals that insurgents have occupied since summer.
Damen Pontoon Deliveries Ensure Stock Availability
Last Friday, April 4, a shipment that left China seven weeks ago carrying 13 new Damen Stan Pontoons and 10 other Damen vessels arrived in Rotterdam. The built-for-stock pontoons and vessels will uphold Damen’s ultra-short delivery times as demand rises - 170 deliveries in 2013. This has also led to Damen introducing newly designed barges and completing a number of custom pontoon and barge projects. Damen has sold 37 pontoons and barges in the last two years.
CG Cutter Morro Bay out for Repairs
The Coast Guard Cutter Morro Bay, a 140-foot icebreaking tug homeported in Cleveland but currently moored in Duluth, is scheduled to undergo an in-water repair Sunday and Monday. The Morro Bay suffered a rudder casualty while conducting icebreaking operations in Thunder Bay, Ontario, March 27, and was towed to Duluth by the Coast Guard Cutters Alder and Katmai Bay. Divers and Coast Guard naval engineers examined the Morro Bay and discovered that icebreaking operations exacerbated an unknown…
OMB - review of draft OSV rule
The Coast Guard Authorization Act of 2010 removed the size limit on offshore supply vessels (OSVs). The Act also directed the Coast Guard to issue, as soon as is practicable…
ADF Aids Solomon Islands Following Floods
A Royal Australian Air Force (RAAF) C-130J Hercules has departed RAAF Base Amberley to transport a Department of Foreign Affairs advisor and Defence personnel to the Solomon Islands following severe floods. A team of 11 Australian Defence Force (ADF) personnel has departed with a specialist advisor from the Department of Foreign Affairs and Trade (DFAT). This team will conduct an initial assessment to scope what assistance will be required.
Japex begins Japan's 1st commercial shale oil production
Japan Petroleum Exploration Co (Japex) said on Monday it has begun the country's first commercial production of shale oil in Akita prefecture in northern Japan this month.
LNG tanker Umm Slal due at UK's Milford Haven on April 15
The liquefied natural gas (LNG) tanker Umm Slal is expected to arrive at Britain's Milford Haven on April 15, according to shipping data on Reuters. The 261,000…
Transport Engineering Course at OMAE 2014
HMC will host ASME Courses on Transport Engineering and Front End Engineering Design from June 7-8, 2014 at The Palace Hotel in San Francisco. The OMAE is the flagship conference of the Ocean Offshore and Arctic Engineering Division of ASME. Every year it brings together engineers, researchers, academics, industry leaders and government leaders. In 2014, San Francisco will be the host city. HMC is proud to facilitate a course on Transport Engineering and Front End Engineering Design.
Saltchuk to Acquire Tropical Shipping
A subsidiary of Saltchuk Resources, one of the nation’s leading transportation and petroleum distribution companies, has entered into a binding purchase & sale agreement…
Deadbeat Chinese Shipyards Stick Banks with Default Bill
Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed…
Alfa Laval buys Frank Mohn for $2.17 bln
Swedish engineering group Alfa Laval said on Monday it had agreed to buy Norwegian marine and offshore pumping group Frank Mohn for 13 billion Norwegian crowns ($2.17 billion) in cash.
Kuwait's oil output capacity rises to 3.3 mln bpd - KPC
Kuwait has increased its oil production capacity to 3.3 million barrels of oil a day (bpd) and is hoping to reach 3.5 million bpd in 2015, the head of its state oil company said on Monday.
POSH attracts Hwang, Fortress as IPO investors
PACC Offshore Services Holdings (POSH), part of the empire of Malaysia's richest man Robert Kuok, has roped in Hwang Investment Management Berhad and Fortress Capital…
Asia Distillates-Cracks edge down on thin demand
Asia's gasoil and jet fuel margins edged lower on Monday in the absence of most sentiment-supporting factors, with the exception of refinery maintenance, traders said.