Chevron and ENN Sign Gorgon LNG Agreement
Chevron Corporation announced that its Australian subsidiaries have signed a non-binding Heads of Agreement (HoA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas (LNG) to China from the Chevron-operated Gorgon natural gas project in Australia. When the deal is finalized, ENN is expected to receive up to 0.5 million metric tons per annum (MTPA) of LNG over 10 years, with deliveries starting in 2018 or the first half of 2019.
Lloyd's Register to Resume Iran Business
Lloyd's Register (LR) is working on resuming services to verify safety and environmental standards for Iranian shipping companies, the ship classification society said on Monday.
Lloyd's of London: Agents Can Offer Iran Insurance for Oil Transport
The Lloyd's of London insurance market said on Tuesday that from a European Union perspective its managing agents can now provide insurance and reinsurance for the…
This Day In US Naval History - January 18
1879 - USS Constitution, while sailing back to the U.S. from France, ran aground off Bollard Head on the south coast of England. She was towed to the Portsmouth Navy Yard and placed in Dry Dock 11 for inspection. The 82-year-old frigate survived the grounding and only needed to have 85 feet of her false keel replaced and several sheets of underwater copper. She resumed her voyage home on January 24th.
NORDEN Sells its Last Capesize Ship
In line with its dry cargo strategy to focus on Panamax and Supramax vessels, Danish ship owner NORDEN has entered into an agreement to sell its last remaining Capesize vessel Nord-Energy (180,310 dwt. built in 2004). At the same time, the company has agreed to buy a Supramax vessel (58,000 dwt. built in 2010). Both deliveries will take place in the course of the first quarter of 2016. Following the sale…
Vessel Design: ‘LNG Ship of the Future’
Project to optimize LNG ship hull forms aims to reduce emissions and save significant amounts of fuel for LNG vessel operators. On the shores of the Amazônia Azul – or Blue Amazon, the part of the Atlantic off the coast of Brazil – the LNG ship of the future is being designed. The shape of an LNG ship’s hull and cargo tanks are critical for the vessel to sail with minimal resistance through water.
Frigate Launched for Indonesian Navy
PT Pal’s Surabaya Shipyard has launched the first of two SIGMA 10514 Perusak Kawal Rudal (PKR) guided-missile frigates designated for the Indonesian Navy (TNI AL). PT Pal built these ships in collaboration with Damen Schelde Naval Shipbuilding (DSNS). The launch ceremony was attended by guests of honor Indonesian Minister of Defense, Ryamizard Rycudu along with Coordinating Minister of Maritime Affairs…
SENER Tallies FORAN Contract with Khulna Shipyard
The SENER engineering and technology Group has signed a contract with the company Khulna Shipyards Ltd. in Bangladesh for the implementation of the shipbuilding CAD/CAM System FORAN, developed by SENER, to be used in the design and production of new projects. Khulna Shipyard (KSY) belongs to the Ministry of Defense of the Bangladesh Govern, and it is operated by its Army. The scope of the contract…
New Head of Asia Desk at SAL Heavy Lift
SAL has announced Jürgen Kuntz as its new Head of Asia Desk in Hamburg. Originally setting up the SAL office in Shanghai, Kuntz will continue to strengthen the Asia related business with his 15 year long experience from China, the company said. Kuntz started with SAL as a trainee in 1993. In 2001 he opened the first overseas office for SAL in Shanghai, this soon to be followed by a second office in Beijing.
Bearing System Sees No Wear After 20,000 Hours
After nine years of operation in the harsh, abrasive waters of Alaska’s Yukon River, aboard Inland Barge Service’s push boat Ramona, Thordon Bearings’ RiverTough water-lubricated tail-shaft bearing system has emerged completely free of wear and tear, according tot the manufacturer. The performance of the RiverTough bearings in waters renowned for their high content of gritty glacial silt came to light when the 16-meter workboat’s cracked struts underwent repair in dry-dock.
Shippers Urged to Use Transitional Measures for Ship Recycling
Shipping companies are being strongly encouraged to use new ‘Transitional Measures for Shipowners Selling Ships for Recycling’ launched by a coalition of international shipping industry organizations. The purpose of the new ‘Transitional Measures’ – developed by an inter-industry working group led by the International Chamber of Shipping (ICS) – is to help shipowners ensure to the greatest extent possible…
Innovation Paving the Way for Marine Industry in 2016
From the price of oil to environmental regulation, 2015 was a year of turmoil and uncertainty for the marine sector. Despite this, there were some common global trends that will define 2016. In December 2015, world leaders met at the COP21 conference to discuss climate change. The event’s outcome marks a decisive move towards a low carbon future focused on achieving the agreed-upon world target of 1.5 degree climate change ceiling.
Iran-Venezuela Oil Tanker Deal Hit by Sanctions Snags
An agreement to build oil tankers in Iran for Venezuela has been left in limbo years after it was announced as Western sanctions plus disagreements over payments and delivery terms took their toll…
Lifted Iran Sanction Frees Up $2.8 Bln in Tanker Tonnage
With recent news that sanctions against Iran are to be lifted, the world tanker fleet is due to see an additional 14.1 million DWT of Iranian tankers freed to trade globally. This tonnage is valued today at nearly $2.8 billion, according to VesselsValue.com. VesselsValue.com ranks Iran’s VLCC fleet eighth in the world by value, behind Greece, China, Japan, the U.S., Singapore, Saudi Arabia and South Korea.
Oman Drydock Closes 2015 with Busy Second Half
Oman Drydock Company (ODC) has reported one of its busiest half year periods to date for drydockings, conversions and repairs. Based in Duqm Oman’s new ports and logistics city, ODC is one of the world’s largest shipyards at 1.3 million square meters. ODC deputy CEO Dr. Ahmed Al Abri, said the period July to December 2015 saw the shipyard undertake a range of drydockings taking the total number undertaken since it opened to 375.
Japan to Employ Sovereign Insurance for Iranian Imports
Japanese buyers of Iranian crude will have to keep using special sovereign shipping insurance to import oil for the foreseeable future, despite the lifting of sanctions against Tehran…
LNG Could Follow Crude Oil's Lead: Russell
In contrast to the carnage in crude oil markets, liquefied natural gas (LNG) prices in Asia have enjoyed relative stability for the past three months, but it's unlikely…
Greece to Evaluate Cosco Port Bid
China's Cosco sole bidder for the country's biggest port. Greece will evaluate on Wednesday an improved bid that China's Cosco is due to submit for a majority stake in Piraeus Port…
ClassNK: New Software System for Container Carriers
(PRESS RELEASE) ClassNK released its new structural design support system PrimeShip-HULL for Container Carriers to correspond with its latest rule amendments. To promote container carrier safety…
Terex Liftace 5-31 Reach Stacker Delivered to Port Blyth
Terex Port Solutions (TPS) delivered a Terex Liftace 5-31 reach stacker to the north-east England based terminal, Port of Blyth, UK. The machine became operational at the south harbour of the North Sea port in December 2015. The cost effective, service friendly and ergonomic reach stacker will operate the twice weekly container service and stack yard. The machine will also be used for client port training purposes.