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Monday, December 10, 2018

Asia Pacific News

Floating LNG in Asia Finds Buyers as Prices Plunge

Atypical LNG carrier enroute to berth. (File image / Adobestock / © Fotmart

Nine or more tankers on the way or discharged into Asia, while at least five still holding LNG off Singapore.Several liquefied natural gas (LNG) cargoes that had been stored on vessels in Asian waters are now heading towards buyers' terminals in China, Japan or South Korea as spot prices for the super-chilled fuel have plunged this week to multi-month lows.At least nine LNG tankers are now on their way or have already offloaded cargoes to buyers after floating off Singapore, Malaysian or South China waters for up to two months…

Rising Ship Supply Eases LNG Charter Rates

File Image: a fully laden LNG tanker transits the Med in this recent image. Credit: Robert Murphy

Limited availability drove LNG shipping rates to highs; but prices now falling as more ship supply becomes available.Inflated spot charter rates for liquefied natural gas (LNG) tankers are easing as more ships becoming available, which could help increase LNG trade if Asian demand rises in coming months.LNG charter rates are a key component of spot LNG trade, dictating the way the super-cooled gas is transported. Charter rates usually follow the price of LNG, which has fallen since September due to sluggish demand from Asian buyers.Rates have remained high for most of this year…

CMA CGM Wins Award for Most Accomplished Asia Pacific Ship Owner

Pic: CMA CGM

The CMA CGM Group has been awarded the Most Accomplished Asia Pacific Ship Owner Award 2018 at the Maritime2020 Summit, which was held in Singapore on November 27, 2018.The French container transportation and shipping company said that this award recognizes the shipowner who demonstrates the greatest efforts to make its fleet more sustainable, efficient and environmentally friendly.Mathieu Girardin, Vice President CMA CGM Asia regional Office, received the award on behalf of the…

Gazprom to Review Shale Gas and LNG Sectors

Sakhalin II LNG plant. Photo: Gazprom

Russian energy giant Gazprom revealed that there is still a high level of uncertainty in the long-term forecasts for U.S. shale gas production. It also said that the number of LNG-consuming countries would grow in the long term.Gazprom's Board of Directors took note of the information about the prospects of the shale gas and liquefied natural gas (LNG) sectors around the world, as well as the opportunities and threats facing the Company.The oil and gas company focused on the business of extraction…

Software Solutions: Communicate or Stagnate

Image: Softship

It’s likely that you are reading this article in your office. And for most of us, that means a large, open-plan space arranged with desks, monitors, break-out rooms and other features designed both to keep us productive and to facilitate communication and collaboration. We have New York City to thank for the emergence of the shared office back at the turn of the last century. But it is relatively recently that “Bürolandschaft”, or office landscaping, became popular encouraging…

Jurong Port Wins Green Port Certificate

Photo: Jurong Port

Singapore-headquartered Jurong Port (JP) has been awarded the Green Port Certificate, a program under the Green Port Award System (GPAS) developed by the APEC Port Services Network (APSN)A press note from the international multipurpose port providing integrated solutions for the most complex of logistics operations said that the GPAS program is a green evaluation system for ports in the Asia-Pacific Economic Cooperation (APEC) region which assesses initiatives that improve environmental…

ICTSI Appoints Andrew Dawes as Asia-Pacific Head

International Container Terminal Services, Inc.

Manila-headquartered International Container Terminal Services, Inc. (ICTSI) has appointed Andrew Dawes as Senior Vice President and Regional Head of Asia Pacific, replacing Christian R. Gonzalez, who has been named Global Corporate Head.Dawes will be directly responsible for the management and development of ICTSI’s Asia Pacific portfolio outside of the Philippines.With over 20 years in the port industry, Mr. Dawes has significant experience from senior roles in multinational port management companies in Europe, the Middle East, Africa and the Americas.

BMA Goes to Japan

Pic: Bahamas Maritime Authority’s (BMA)

As part of its strategy to make further inroads into the Japanese shipping market the Bahamas Maritime Authority (BMA) is opening its new office in the heart of Tokyo's Minato district.BMA’s new office at Nishi-Shinbashi was inaugurated by the Deputy Prime Minister of the Bahamas, the Honorable Peter Turnquest.The office will provide direct service to the Japanese maritime market, the world’s second largest in terms of vessel tonnage.Turnquest said: “Japan is a great maritime nation, and The Bahamas Ship Registry is one of the world’s top registries.

OMV, Sapura Energy Sign Pact

Image: Sapura Energy Berhad

Malaysia’s Sapura Energy has entered into a heads of agreement with Austria’s OMV to form a strategic partnership and acquire half of Sapura Upstream for $1.6 billion."Under the agreements, OMV Exploration and Production GmbH (OMV E&P), a wholly-owned subsidiary of OMV Aktiengesellschaft, will buy a 50 per cent stake of the enlarged issued share capital in a newly-formed joint venture company, SEB Upstream Sdn Bhd (SUP), based on an enterprise value of up to USD1.6 billion comprising an equity value of up to USD1…

WISTA Elects New BoD, Honors 2018 Personality of the Year

Kathy Metcalf, CEO CSA

Kathy Metcalf, CEO of the Chamber of Shipping of America, was honored as the 2018 WISTA International Personality of the Year.New WISTA BoardWomen's International Shipping and Trading Association (WISTA) elected Connie Roozen, Director of C&B More (WISTA the Netherlands) as Treasurer and Angie Hartmann, Vice President Crew Affairs, Starbulk S.A. (WISTA Hellas) as Board Member, to the WISTA International Executive Committee at their 38th International Annual General Meeting in TromsØ, Norway on October 24, 2018.

U.S. Soybean Growers Mull Box Shipping as Trade War, Record Harvest Loom

Shortsea Container Shipping (File image / CREDIT Samskip)

Illinois Soybean Association Rallies U.S. Growers to Consider Shipping Via Container to Find New Markets for Anticipated Record Harvest.The anticipated bumper harvest of U.S. soybeans this fall amid a trade dispute with China presents an opportunity for growers to reach new international markets with containerized shipping. Farmers this spring sowed more soybeans than corn for the first time in 35 years. But prices have dropped since China, the world’s biggest market for soybeans, placed a 25 percent tax on imported U.S. soybeans, in response to U.S. tariffs on a swath of Chinese goods.

WISTA International Elects New Board Members

Photo: WISTA International

Women's International Shipping and Trading Association (WISTA) elected Connie Roozen, Director of C&B More as Treasurer and Angie Hartmann, Vice President Crew Affairs, Starbulk  as Board Member, to the WISTA International Executive Committee.Sanjam Gupta, Director Sitara Shipping, was re-elected to a third term on the Executive Committee. Kathy Metcalf, CEO of the Chamber of Shipping of America, was honored as the 2018 WISTA International Personality of the Year.Connie Roozen is Director at C& B More, a tax consultancy firm. Roozen has served as Treasurer for WISTA the Netherlands since 2014.

Asia-Pac Offshore Wind Capacity to Rise 20-fold in a Decade: Wood Mackenzie

Image: Orsted, Taiwan

Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027, said new research from global natural resources consultancy Wood Mackenzie. Future offshore wind prices will be competitive with traditional thermal prices, it said.Leading the charge is China, which is expected to see offshore wind capacity grow from 2 GW last year to 31 GW in the next decade.Next is Taiwan which will account for 20% or 8.7 GW of offshore wind capacity by 2027, making it the largest offshore…

Marine Lubricants Market to Reach USD 3.3 Bln by 2024

Image: Gulf Oil Marine Ltd.

The global marine lubricants market is anticipated to expand a robust CAGR of 4.17% during the forecasts period 2016 - 2024, says a study.According a recent study done by Transparency Market Research marine lubricants market which was valued US$2.3 bn is predicted to touch US$3.3 bn by the end of assessed period.On the basis of type of product, the global marine lubricants market is segregated into bio-based oil, mineral oil, and synthetic oil. Of these, the demand for mineral oil is high and is likely to remain like this during the forecast period owing to cost benefits that are provided.

Optimism in Multipurpose Shipping: Drewry

Global consumption of primary energy by fuel type (million tonnes oil equivalent). Graph: Drewry Maritime Research

Surging growth in renewable energy generation around the world and a construction boom in South East Asia that is expected to run for the next 10 years bode well for the once ailing multipurpose shipping fleet.In the latest edition of Drewry’s Multipurpose Shipping Forecaster report we declare that we remain cautiously optimistic on the outlook for the sector. There are some caveats to this optimism as global general cargo demand is forecast to grow at a rate of just 2% per year to 2022…

APSATCOM to launch IntelsatOne Flex in China

Pic: Intelsat

Intelsat announced that APT Mobile Satcom (APSATCOM) will become the first maritime solution partner to offer, in China, IntelsatOne Flex for Maritime services.This agreement will deliver a seamless global maritime network for APSATCOM’s customers, providing unparalleled throughput, improved economics, and easier access to broadband services.Under the new, multi-year agreement, Intelsat will provide IntelsatOne Flex for Maritime services, interconnection, and backhaul to APSATCOM’s data centers.

McLoughlin Joins North P&I Underwriting Team

Pic: North P&I Club

Global marine insurer provider North P&I Club has further strengthened its underwriting team with the appointment of a new U.K. based underwriter combined with some operational changes to a number of senior underwriting roles.Tom McLoughlin joined the team as an Underwriter last week, bringing with him a range of marine experience from his former roles with insurance brokers Marsh in London, and a significant tanker management company in Athens. Initially McLoughlin will work across all of the regional teams as he settles into his new role with the Club.Earlier in the year…

Intelsat, APSATCOM Launch IntelsatOne Flex Maritime in Asia

Intelsat S.A. announced  that APT Mobile Satcom Ltd. (APSATCOM) will become the first maritime solution partner to offer, in China, IntelsatOne Flex for Maritime services. This agreement will deliver a seamless global maritime network for APSATCOM’s customers, providing unparalleled throughput, improved economics, and easier access to broadband services, the company said.Under the new, multi-year agreement, Intelsat will provide IntelsatOne Flex for Maritime services, interconnection, and backhaul to APSATCOM’s data centers. The award-winning IntelsatOne Flex for Maritime platform is a seamlessly integrated managed service that offers…

Exxon Mobil Eyes Major Investment at Singapore Refinery

© Igor Groshev / Adobe Stock

Exxon Mobil Corp is considering a multi-billion dollar investment at its Singapore refinery, the company's largest, ahead of new global shipping fuel regulations starting in 2020, a senior executive said on Wednesday."We are currently assessing a multi-billion project in our integrated manufacturing facility here in Singapore," Matt Bergeron, vice president of Asia Pacific Fuels Business at Exxon, said at a bunkering conference."Should the project proceed, we plan to implement…

Britannia Maritime Consultants Appoints Mike Hammond, Stephan Dimke

Mike Hammond (left) and Stephan Dimke. Photo: Britannia Maritime Consultants

Britannia Maritime Consultants has announced two senior appointments as part of its expansion into the marine casualty response market.Mike Hammond will head up a new claims and insurance department while Stephan Dimke will provide technical support for digital navigation issues.Mike brings a formidable track record and experience to Britannia, having worked in marine claims both for shipping companies, and more recently as the claims manager for an International Group P&I club with a focus on the Asia Pacific region.Mike’s skills are already in demand…

Trafigura Names First of 35 New Tankers

Photo: Trafigura Group

Singapore's commodity trading company Trafigura Group has named the first of its 35 crude oil and product tankers being built in South Korea and China.The naming ceremony took place at Hyundai Samho Heavy Industries’ shipyard in Jeolanam-do, in the southwest of South Korea yesterday (September 20) in the presence of Singapore’s Senior Minister of State for Transport and Health, Dr Lam Pin Min. Dr Lam’s wife, Dr Jeanette Chen, became godmother to the first vessel to be named, the Mt Marlin Singapore…

Oil Could Rise to $100 by 2019

© alexyz3d / Adobe Stock

Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore.Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of the U.S. sanctions against Iran by the end of the fourth quarter this year, said Daniel Jaeggi, president of commodity merchant Mercuria Energy Trading…

No Delays to Implementing 2020 Sulphur Cap -IMO Official

© Fokussiert / Adobe Stock

The International Maritime Organization (IMO) will not delay implementing a reduction in the amount of sulphur in marine fuel in 2020, an IMO official said on Tuesday."I can categorically say there will not be a delay," said Edmund Hughes, the head of air pollution and energy efficiency at the IMO, during the Asia Pacific Petroleum Conference (APPEC) in Singapore.IMO, the United Nations' shipping agency, will require that vessels start in 2020 using fuel oil with 0.5 percent sulphur…

Maritime Reporter Magazine Cover Nov 2018 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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