Nigeria FEC Okays Maritime Piracy Bill
The Federal Executive Council of Nigeria approved the Suppression of Piracy and Maritime Offences Bill, reported TVC News. The approval was given at a meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja. The two bills will now be forwarded to the National Assembly for approval and passage. The bill is to ensure the protection of the maritime industry against Piracy.
World's Largest Vessel Set to Sail in 2018
In 2018, Shell's huge floating liquefied natural gas (FLNG) Prelude, the world's largest vessel, will begin its job of extracting and processing gas at sea, reported CNBC. The 488-meter-long and 74-meter-wide floating facility left the shipyard in South Korea in late June and reached the Australian waters in late July. Currently, the vessel, which is almost one-third of a mile long with a deck longer than four soccer fields…
BSEE Proposes Softening of Offshore Drilling Rules - WSJ
A U.S. regulator has proposed rolling back safety measures put in place after the 2010 Deepwater Horizon oil spill, which would reduce the role of government in offshore oil production, the Wall Street Journal reported on Monday. The Bureau of Safety and Environmental Enforcement (BSEE), which regulates offshore oil and gas drilling, proposes relaxing requirements to stream real-time data on oil production operators to facilities onshore…
KHI, Island Offshore Terminate Newbuild Contract
Kawasaki Heavy Industries, Ltd. (KHI) announced today that the company has decided to terminate, by agreement with Island Navigator I KS, its shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator. The yard state that is has been facing difficulties in its engineering process as well as with increases of material costs since the contract was signed. Combined…
China Rises to World's No.2 LNG Importer
China's 2017 LNG imports to top South Korea's for first time; becomes key driver of spot LNG prices. China will become the world's second-biggest importer of liquefied natural gas (LNG) this year as it overtakes South Korea, shipping data in Thomson Reuters Eikon showed. This is a huge boost to Asia's emerging spot market as Chinese buyers rely much more on short-term purchases to meet their needs than their counterparts in Japan and South Korea.
HHI Group to List Oilbank
IPO seen improving group's financial soundness, transparency; Group sees shipbuilding recovery starting 2019. South Korea's Hyundai Heavy Industries Group plans to list its refining arm Hyundai Oilbank in an IPO in 2018 and raise about $1.2 billion via a share issue by shipbuilder Hyundai Heavy Industries, in a move to bolster its finances. Hyundai Heavy Industries, the flagship company of South Korea's ninth-largest conglomerate…
Shipyard Contract Cancelled
Ongoing uncertainty in the global offshore energy sector has claimed another casualty, as Kawasaki Heavy Industries announced that it has terminated -- in agreement with Island Navigator I KS -- the shipbuilding contract for the top hole drilling/light well intervention vessel, Island Navigator. A number of factors were cited in the decision to cease the construction, including difficulties in the engineering process and increased material costs since the signing of the contract…
Italy's Saipem Wins Eni Angola Contract
Saipem has signed a contract with Eni Angola S.p.A. in relation to the West Hub Development project in Angola, which incorporates the work orders previously assigned and communicated in 2016 and 2017 and adds the scope of work for the development of the Vandumbu field in Block 15/06. The additional activities will be carried out by the Offshore E&C division and encompass the engineering, procurement…
McDermott Wins Tyra EPC Work near Denmark
McDermott International announced a substantial contract award from Mærsk Olie og Gas A/S (Maersk Oil) for engineering, procurement, construction and commissioning (EPCC) services for the Tyra Redevelopment project, located offshore in the Danish sector of the North Sea. “This award heralds our return to the North Sea and is a part of our strategic growth strategy,” said Scott Munro, Vice President of Americas, Europe and Africa.
MOL Develops Voyage Information Display System
Mitsui O.S.K. Lines (MOL) announced an agreement with Furuno Electric Co and MOL Techno-Trade to jointly develop a system that supports ship operation during voyages using augmented reality (AR) technology. In this project, information, such as other ships sailing around the vessel and landmarks like buoys at sea, can be shown on tablets and other displays, based on data from the Automatic Identification System (AIS).
Improving ZIM’s Greece Turkey Service
In order to improve our current service levels and provide customers in the region with the best solutions, ZIM Integrated Shipping Services Ltd introduced changes starting January 2018. Iskenderun port is added to TGX rotation: Thessaloniki cargo will now be served by our mainliner ZMP service, via Istanbul to Haifa, with a total transit time of 7 days and much improved schedule reliability. The…
China to Roll Out Smart Crude Oil Carrier
China's Dalian Shipbuilding Industry Co (DSIC) is working on China's first smart crude oil carrier - a special project named "smart ship 1.0 R&D - which will incorporate technology to help the captain operate the ship. The Chinese state media quoted Guan Yinghua, deputy chief engineer of DSIC as saying that the project was assigned by the Ministry of Industry and Information Technology. Guan said that the very large intelligent crude carrier will be the most important result of the project.
Hyundai Heavy to Raise $1.2B Via Rights Offering
South Korea's Hyundai Heavy Industries (HHI) plans to raise about 1.29 trillion won ($1.2 billion) in an initial public offering (IPO) and list its refining subsidiary Hyundai Oilbank. The report quoted the world’s second-biggest shipbuilder stating that Hyundai Robotics, the group’s holding company, has decided to list refining subsidiary Hyundai Oilbank in an IPO in the second half of 2018. The group also plans to issue 12.5 million rights shares…
Vietnam Sets Up Shipping Alliance
The maritime shipping crisis has forced shipping firms worldwide to join alliances to improve their competitiveness. Such alliances have also been set up in Vietnam. Vietnam National Shipping Lines (Vinalines) CEO Nguyen Canh Tinh said connecting subsidiaries to improve resources and competitiveness, and to open new routes, is one of the most important plans being implemented by Vinalines. The container transport route to Hong Kong…
Sembcorp Marine to Sell West Rigel
Sembcorp Marine announced that its wholly-owned subsidiary Jurong Shipyard Pte Ltd (JSPL) has signed an agreement for the sale of the semi-submersible rig West Rigel (Rig) to a buyer at a price of US$500 million. Under the terms of the agreement, the Sale is subject to conditions precedent being met by both parties before the delivery of the Rig and the payment of the price. Once the conditions precedent are fulfilled…
Sinopec Tianjin Terminal to Receive First LNG Cargo
China Sinopec's new Tianjin terminal will receive first LNG cargo of 30,000-35,000 tonnes from Australia on Jan. 10, a source with the direct knowledge of the project said. Sinopec Tianjin terminal will start LNG sales at end of January, the source said. The Tianjin LNG project has the capacity to receive 3 million tonnes of LNG per year. Reporting by Meng Meng and Ryan Woo
Severe Gales to Hamper Russian Vessel Save
A Russian flagged vessel reportedly with 13 crew still aboard is listing 'significantly' outside of Portsmouth Harbor may have to await further rescue attempt, as the weather forecast is poor with severe gales and rough seas expected later today according to various local media reports. The ship MEKHANIK YARTSDEV as identified in locla images from the scene reportedly has power and is reported stable, at anchor in the Solent.
Japan Considers Refitting Its Largest Warship
Japan is considering refitting the Izumo helicopter carrier so that it can land U.S. Marines F-35B stealth fighters, government sources said on Tuesday, as Tokyo faces China’s maritime expansion and North Korea’s missile and nuclear development. Japan has not had fully fledged aircraft carriers since its World War Two defeat in 1945. Any refit of the Izumo would be aimed at preparing for a scenario in which runways in Japan had been destroyed by missile attacks…
El Faro and Perceived Deficiencies in the ACP
The October 1, 2015 loss of the U.S. cargo vessel El Faro along with its 33 member crew led to the convening of a Coast Guard Marine Board of Investigation charged with determining as closely as possible the cause(s) of the casualty; whether there is evidence that any failure of material was involved; whether there is evidence of misconduct, inattention to duty, negligence, or willful violation of law; and whether there is evidence that government personnel contributed to the casualty.
Davie Delivers Canada’s New Naval Support Ship
Commissioning and sea-trials have been completed for Canada’s first Resolve-Class Naval Support Ship, Asterix, the first new naval support ship to enter service with the Royal Canadian Navy in more than five decades. The ship, which is also the first large naval platform to be delivered from a Canadian shipyard in over 20 years and the first naval ship to be delivered since the launch of the National Shipbuilding Strategy…