EU Needs to Address Decommissioning of Floating Oil and Gas Structures
A joint event between the European Economic and Social Committee (EESC) and three Green Members of the European Parliament highlighted the paradox between the strict rules under OSPAR for the decommissioning of fixed oil platforms from the North Sea with the rules that govern the recycling of floating platforms and structures. The latter fall under the same rules as commercial ships, and would therefore have to follow the EU Ship Recycling Regulation.
Hapag-Lloyd Issues Euro Bond Worth EUR 300mln
Hapag-Lloyd AG, a leading global container shipping company, launched a euro bond offering with a volume of EUR 300 million and a maturity of seven years. The proceeds will be used for the early redemption of the company’s euro bond due in 2018 and the early partial redemption of the euro bond due in 2019. Currently, the redemption is envisaged for October this year. Hapag-Lloyd is one of the leading…
Yinson Sells FPSO Stake in Ghana
Malayasia's Yinson Holdings has sold its26 percent stake in its floating production, storage and offloading (FPSO) unit in Ghana to a consortium of Japanese companies, The Star reported. According to the heads of agreement (HoA) with the consortium, the value of the stake in Yinson Production (West Africa) Pte Ltd (YPWA), the company said yesterday, was estimated in the range of $104 million to $117 million.
Environmental Ship Index to Evaluate CO2 Performance
As of 1 July 2017, the Environmental Ship Index (ESI) started evaluating performance in the field of CO2, says a press release from Antwerp Port Authority. To date, only the environmental performance of ships on emissions of air pollution (NOx and SOx) were assessed. This makes the index the first sustainable quality mark in international shipping that includes the performance and, more particularly, the reduction in CO2 in its assessment.
Dryships Time Charter Contract for Newcastlemax Vessels
DryShips Inc., a diversified owner of ocean going cargo vessels, announced that it has entered into a time charter with a major coal and steel trader for its fourth and last of its 206,000 dwt Newcastlemax drybulk vessels. The contract has a duration of about one year, with a gross rate linked to the Baltic Capesize Index (5 T/C route) plus 20% and will commence upon the delivery of the vessel, expected in July 2017.
The Efficiency of New Ships is Falling: CE Delft Study
Recent improvements in the design efficiency of new ships went into reverse last year, a new independent study has found. According to the CE Delft study the average design efficiency of new bulk carriers, oil tankers and gas carriers was worse in 2016 than in 2015. The share of new ships complying with future efficiency standards also decreased in 2016. The design efficiency of containerships and general cargo ships appears to be stagnating after a period of improvement.
Yangzijiang Bags Newbuild Orders Worth $133 Mln
China’s Yangzijiang Shipbuilding has won six shipbuilding contracts worth a total of $133m during the second quarter of this year, Business Times reported. Three of these orders for 1,800 TEU (twenty-foot equivalent unit) containerships were exercised from options tied to existing shipbuilding orders. Three others for 82,000-deadweight-tonne bulk carriers were new shipbuilding orders. The new ships are scheduled to be delivered in phases between 2018 to 2020.
Load Cells for Offshore Mooring Project
French maritime engineering specialist Iroise Mer used a 50 ton Straightpoint Radiolink plus (RLP) load cell during a refit of a tanker mooring system located 500m off the Corsica coast, recently. Iroise Mer's job was to update the site, comprising four different mooring lines, complete with anchors, chains and concrete deadweights, and all existing components had to be removed and new ones installed.
The Impact of Future Global Tides on Energy
The first comprehensive study of the impact of global sea-level rise on tides has implications for future coastal flood risk, harbour management, and the long term planning of tidal energy sites. This research, published in Continental Shelf Research by scientists at the National Oceanography Centre (NOC), University of Southampton and Deltares, shows that sea-level rise can significantly alter tides across the world in many different ways in both space and time.
Wärtsilä Ensures Compliance with the Polar Code
1 January 2017 was a historic milestone in the protection of our polar waters for future generations. On that day, International Maritime Organization’s (IMO) International Code for Ships Operating in Polar Waters (the Polar Code) came into force. The Polar Code is aimed at protecting ships and the people aboard them, both seafarers and passengers, in the harsh environment of the waters surrounding our two poles, Arctic and Antarctic.
Marine Environment Protection Committee Opens
A busy Marine Environment Protection Committee (MEPC 71) is now under way at International Maritime Organization (IMO) Headquarters in London (3-7 July). A key item on the agenda is the implementation of the Ballast Water Management (BWM) Convention, which will enter into force on 8 September 2017. The Committee will consider draft amendments to the BWM Convention which will determine the implementation schedule for installations of ballast water management systems.
Mayor of Shanghai Visits CMA CGM Tower
Rodolphe Saadé, Chief Executive Officer of CMA CGM Group, has received this Tuesday, July 4, 2017, Yong YING, Mayor of Shanghai, who is on an official visit to Marseille for the signature of the 30 years of twinning between the two cities. On this occasion, the Mayor of Shanghai and Rodolphe Saadé looked back on the history of the remarkable relationship between China and CMA CGM since 1992. CMA CGM is the only company he will visit during his trip in France.
Dunkirk Plans LNG Fueling Station
Dunkirk's LNG terminal and Grand Port Maritime de Dunkerque have signed an agreement for the development of an LNG supply station. The use of liquefied natural gas (LNG) by shipping and road vehicles has grown significantly in recent months with new projects (orders for ships, LNG supply stations, etc). Dunkerque-Port and Dunkerque LNG are convinced of the role that LNG will play both at sea and on land in reducing greenhouse gas and particle emissions.
Gazpromneft-Lubricants Bolsters Caspian Sea Ports Supplies
Gazpromneft-Lubricants, the Gazprom Neft oil business operator, has started delivering marine lubricants in the sea port of Makhachkala, Republic of Dagestan. The first supply to the Dniester dredging vessel was carried out as part of the three-year agreement with Rosmorport signed in spring, 2017. According to the agreement, Gazpromneft-Lubricants is going to deliver 1500 tons of marine lubricants to the company's vessels.
Alfa Laval Signs BWT Pact with Two Shipowners
Alfa Laval signs major frame agreements for ballast water treatment retrofitsIn June, Alfa Laval signed frame agreements with two different shipowners for the supply of Alfa Laval PureBallast systems. The systems will be delivered during a three-year period and retrofitted on tankers and bulk carriers. The fleet orders were received from a tanker operator in the Middle East and a bulk carrier operator in Europe…
Qatar to Boost LNG Production by 30% Amid Arab Dispute
State-owned Qatar Petroleum said Tuesday it aims to raise Qatar’s LNG production from 77 million to 100 million tons per year. The new additional volumes will be secured by doubling the size of the new gas project in the southern sector of the North Field, which Qatar Petroleum had announced last April. This will increase the North Field’s production of natural gas, condensate and other associated products by one million barrels of oil equivalent per day.