U.S. Rig Count Drops, But E&P Spend Up 13%
U.S. energy companies this week cut oil rigs for a second straight week, and notched the first monthly fall since March.Drillers cut four oil rigs in the week to June 29, bringing the total count down to 858, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. <RIG-OL-USA-BHI>That was the first time drillers cut rigs for two weeks in a row since October 2017.
Oil Tight on Libyan Port Struggles
Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take over oil exports in the past but have struggled to find buyers because Western nations insist they will deal only with the internationally recognised National Oil Corporation (NOC) based in the Libyan capital of Tripoli.
IMO On Board
Lifeboat inspection, fire drills, emergency generator training, keeping watch, new friendships, ports, building professional networks, and working far away from home and family. These, and many more, are all part of life at sea, and International Maritime Organization (IMO)'s own Sascha Pristrom is experiencing these during a voyage on the Monaco Maersk ultra large container ship. As 2nd Officer, he is gaining a direct insight into the practical implementation…
Diana Containerships Sells m/v Puelo
Diana Containerships announced that it has completed the previously announced sale of one of its Post-Panamax container vessels, the m/v Puelo, with the delivery of the vessel to her new owners. The global shipping company specializing in the ownership of containerships said that after the delivery of the vessel the Company will prepay approximately US$19.4 million of its existing indebtedness, after which the outstanding indebtedness will be approximately US$19.5 million.
Exceptional Tribute Paid to Jacques R. Saadé
The death of Jacques R. Saadé, Founding President of the CMA CGM Group, roused an emotional response within the Group, in the entire maritime transportation industry and beyond. An exceptional tribute was paid to him on Friday, June 29, during his funeral. Jacques R. Saadé dedicated his life to CMA CGM. All the Group’s employees based in Marseilles were invited to attend the religious ceremony celebrated at La Major Cathedral.
Can JIT Ship Operation Cut Ship Emissions?
When arriving at a destination port, ships can remain anchored for many hours or days until getting a berth. During this time, fuel is still being used – which can have a significant impact on port air quality. Could Just-In-Time (JIT) ship operation be part of the solution to reducing ship emissions? This is the question being discussed at an International Maritime Organization (IMO)-led roundtable…
Hapag-Lloyd Slashes 2018 Profit Outlook
German container carrier Hapag-Lloyd has cut its profit outlook for the year 2018 amid a challenging and volatile environment for ocean carriers. A Reuters report quoted the shipper saying that freight rates had recovered more slowly than expected while fuel and charter costs had ballooned. The report said that these developments cannot be fully offset by cost saving measures that have already been initiated.
ESL Shipping Acquires AtoB@C
Finnish dry bulker ESL ShippingLtd, a shipping company fully owned by Aspo Group, is going to acquire all the outstanding shares of AtoB@C Shipping AB and AtoB@C Holding AB (AtoB@C) that offer shipping services. The enterprise value is EUR 30 million. The final purchase price will be mainly financed by Aspo's existing financing reserves, and approximately EUR 4.2 million will be covered by new shares issued by Aspo Plc.
Asian Workshop Addressing Marine Litter
Marine litter poses significant risks to the marine environment, ecology and human health, and is a global concern. International Maritime Organization (IMO) has been taking action to address the problem, including regulating garbage discharge from ships and helping countries build up their human and technical capacities. An IMO Regional Workshop on MARPOL Annex V and Port Reception Facilities for the ASEAN Region took place in Ho Chi Minh City, Viet Nam (27-29 June).
Gothenburg Port Renews Port Tariff Discounts for LNG Vessels
As part of the Gothenburg Port Authority environmental discount scheme, vessels that report good environmental performance receive a 10 per cent discount on the port tariff, assuming they achieve a certain level according to the globally recognised environmental indexes ESI and CSI. Vessels that run on LNG receive an extra discount of 20 per cent each time they call. The LNG discount is subject to a time limit and is due to run to the end of this year…
USMMA Class of '22 Arrives for Indoctrination
The U.S. Merchant Marine Academy at Kings Point (USMMA) welcomed 280, Class of 2022 “plebe candidates” for initial training today. The nearly 20-day orientation period known as Indoctrination, or Indoc, teaches plebe candidates the basics of maritime and regimental life at USMMA. Training will emphasize military discipline, daily regimental routine, physical fitness, basic seamanship, and an introduction to college-level academics.
European Commission Signs Grant Agreement: Official Start of NAVAIS
With the signature of INEA (Innovation & Networks Executive Agency of the European Commission) on the Grant Agreement of NAVAIS, the project officially started on June, 1 2018. NAVAIS is a multiannual research- and innovation program for the shipbuilding industry. The results of NAVAIS will increase efficiency in design and flexibility in production networks. In total, the European Commission will invest € 6.5 million Euros ($7.5 mln) over a period of four years…
Teekay LNG Partners Announces CFO Transition
Teekay LNG Partners L.P. has announced that Brody Speers, the current Chief Financial Officer (CFO) of Teekay Gas Group Ltd., a management services company that…
Marine Electronics: ComNav P4 Autopilot
ComNav has launched the new P4 Autopilot, an adaptive autopilot system designed for all vessel types.Featuring a large 5.7” display, the ComNav P4 autopilot was built for effortless operation and intuitive control with easily accessible, customizable parameters for commercial fleets, fishing boats, yachts, and tugs. The P4 is equipped with ComNav’s Intelligent Steering Technology or ‘IST’.The P4 has automatic Sea State adjustment for course holding in all weather conditions.
Struggle to Control Libyan Oil Ports Adds to Global Supply Worries
Libyan oil production could face protracted disruption as factions in the east have sought to seize control of crude exports, adding pressure to a tight global market.Eastern…
Eco Marine Power Launches Hybrid Battery Packs
In cooperation with its strategic partners Furukawa Battery and Teramoto Iron Works, Eco Marine Power (EMP) has announced the release of two UB-50-12 hybrid battery packs for ship, offshore and land-based renewable energy projects. These safe, reliable and recyclable battery packs will be available in 2.4kWh and 3.6kWh configurations. Multiple battery packs can be installed together to provide the amount of energy storage needed from small scale installations to larger energy storage projects.
Mega Cranes for Port Everglades
Broward County’s Port Everglades reports that it is progressing with manufacturing the first three new Super Post-Panamax container-handling gantry cranes being built by Shanghai Zhenhua Heavy Industries Co., Ltd. Inc. (ZPMC) of China. The design phase is nearing completion, and today Port Everglades Chief Executive Steven Cernak issued a second notice to proceed to begin manufacturing the cranes valued…
VIKING Boosts Support for Japanese Shipowners
Viking is establishing a local presence in Japan to support its growing relationships with local shipowners.Viking Japan builds upon an alliance with MOL Techno-Trade that began five years ago when VIKING’s products were first added to the maritime supplier’s portfolio. “Prior to joining MOL Techno-Trade’s product line-up, VIKING’s representation in Japan was limited,” said VIKING Vice President for the Asian region, Bjarne Kolbo Nielsen.
East China Sea Dispute: Japan Protests China Drilling Vessel
Japan has protested to China for allowing a gas drilling vessel to operate in disputed waters in the East China Sea, the government said on Friday.
Innovation Starts @ Marine Hub Cornwall
Marine Hub Cornwall are on a mission to showcase the UK’s southwest coast as a world class center for marine technology and innovation. Working alongside Invest in Cornwall, which manages inward investment into the region, Marine Hub’s Operations Director, Matt Hodson, explains why he believes Cornwall is best positioned to be a global hub for the marine renewable industry.To kick off, can you give…