Argentine Submarine Found After Yearlong Search
The Argentine Navy submarine that went missing a year ago off the country's Atlantic Coast was found by a private company involved in what had been a massive search for the vessel and its 44-member crew, the defense ministry said in a news conference on Saturday.The ARA San Juan submarine was discovered by marine tracking contractor Ocean Infinity, 907 meters (2,975 feet) below the ocean surface. The vessel was found in an underwater canyon with its tail partially "imploded," Argentina's Defense Minister Carlos Aguad said.Given the poor visibility at the site…
U.S. East Coast Ports Await Yet Another Storm
Hurricane Michael, now a Category 4 storm, will be the second hurricane in two months to significantly affect ports on the U.S. eastern seaboard. Eastern North Carolina in particular is only now recovering from Florence.The U.S. Coast Guard has set conditions X-Ray for ports in Georgia and South Carolina in preparation for Hurricane Michael. The storm is now expected to make landfall by Wednesday afternoon. While gale force winds are expected within the next 48 hours, these ports can remain open to commercial traffic.
Guyana Puts Oil Auctions on Hold
Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Monday.Since 1999, Guyana has awarded a group led by Exxon Mobil Corp hundreds of oil blocks along Guyana's maritime borders with Venezuela and Suriname. Their finds are turning Guyana, a country with no history of oil production and relaxed energy regulation, into one of Latin America's hottest prospects for oil investments.Exxon…
The New York Bight – a Hydra of Difficult Issues
The greening of America’s energy signature will not come without the usual discussions, regulatory oversight – and opposition from a raft of special interests.Amidst an atmosphere of possible resurgence in the domestic offshore oil energy, maritime stakeholders are also reminded that there is more than one kind of energy available for development off the four collective coasts of the United States. That process is underway in the Great Lakes; it has already happened off of New England.
Exxon Expects More Oil from Guyana's Offshore Block
Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday.Exxon and U.S.-based partner Hess Corp said more than 4 billion barrels of oil equivalent could be recovered from the Stabroek block, which is part of one of the biggest oil discoveries in the world in the last decade.The previous estimate was 3.2 billion barrels of oil equivalent, Exxon, the world's largest publicly traded oil producer, said.Besides Exxon and Hess, China's CNOOC is also part of the consortium that is interested in Guyana's Atlantic coast resources.Exxon said production from Stabroek could reach over 750…
Shell Gets Mexico LNG Supply Tender
Royal Dutch Shell will supply Mexico with six LNG cargoes to be delivered in May and June, Reuters has reported, citing trade sources. State-run utility CFE held a tender on 2 May for deliveries to Mexico’s Altamira terminal in the Gulf of Mexico. According to the tender, deliveries are set to be made to the Vopak-operated Altamira LNG import terminal on Mexico’s Atlantic coast. There are six delivery windows for each cargo staggered throughout May and June. The delivery windows for the cargoes are May 11-13, 18-20, 27-29, June 5-7, 13-15 and 21-23, according to the document.
Europe’s First LNG Dredger Conversion Underway
Work has kicked off at Damen Shiprepair Dunkerque to convert the trailing suction hopper dredger (TSHD) Samuel de Champlain from diesel-electric propulsion to dual-fuel capability combining marine gas oil (MGO) and liquefied natural gas (LNG). A ceremony was held at the yard to mark the first cutting of steel for the prefabrication of a new section of hull that will hold the new generators and other equipment.Present at the occasion were Jean-Pierre Guellec, CEO of GIE Dragages-Ports…
Metal Shark Delivers Potomac Riverboat Passenger Vessels
The first two passenger vessels built by Louisiana-based shipbuilder Metal Shark for Entertainment Cruises’ Potomac Riverboat Company division have been delivered to Washington, D.C. and are now in service. The two 88’, 149-passenger high speed aluminum catamaran vessels “Potomac Taxi I” and “Potomac Taxi II” departed Metal Shark’s Franklin, Louisiana shipyard in mid-September, traveled the Gulf of Mexico coastline and crossed Florida via Lake Okeechobee before proceeding northward up the Atlantic coast to Washington, D.C.
Retlif: Ensuring the Future Today
Ensuring the future today . . . by supporting the U.S. Ensuring the future is an essential part of what a testing laboratory is all about. In fact, that concept underlies every EMC test and all the torturous Environmental Simulation testing that products undergo en route to compliance. Retlif Testing Laboratories, a leading independent EMC and Environmental Simulation testing organization founded in 1978, ensures the future beyond products…with people…from the ground up…with their firm commitment to sponsorship of the U.S. Naval Sea Cadets. The U.S. Naval Sea Cadets program is a vital one.
Damen to Convert Dredger to Dual-fuel LNG/MGO
Damen Shiprepair & Conversion has been awarded a contract to undertake the conversion of a dredger to dual-fuel capability combining LNG and MGO – a first of its kind project in Europe. The contract was awarded by Rouen-based GIE Dragages-Ports with regard to its 117m, 8500m³ trailing suction hopper dredger Samuel de Champlain, and the works will take place next year at Damen Shiprepair Dunkerque. The conversion is part of an EU-supported initiative to promote LNG propulsion in short-sea vessels operating along the European Atlantic coast.
Winter Storm Threatens U.S. East Coast Energy Industry
The U.S. energy industry braced for a major test to refineries and power plants as an intense winter storm roared up the Atlantic Coast, bringing heavy snowfall and high winds to a region already beset with several days of extreme cold. The storm is the product of a rapid and rare sharp drop in barometric pressure known as bombogenesis, or bomb cyclone. Heavy snow pounded the East Coast along a front stretching from Maine as far south as North Carolina early on Thursday, knocking out power, icing over roadways and closing hundreds of schools.
French Coastguard Searches for Quiksilver Boss Missing at Sea
The French coastguard on Tuesday searched for Pierre Agnes, the chief executive of U.S. surfwear retailer Boardriders Inc, after his 36-foot (10.97 m) sailboat was found washed up on the country's Atlantic coast. Rescuers were scouring the Bay of Biscay waters off Hossegor, a surfing resort from where the 54-year-old Agnes set sail early in the morning, the Landes prefecture said. Agnes sent a message to port authorities indicating that he was delaying his return because of thick fog. His beached boat was later found empty not far from Hossegor. "An air and sea search operation is underway," the Landes prefecture said in a statement, adding that two helicopters and two boats were involved in the rescue operation.
Scania: Propelling the Passenger Vessel Market
Scania advances into 2018 on the strength of prior year successes and new visibility in one of the North American marine industry’s hottest sectors. In the fourth quarter of 2017, the first two passenger vessels built by Louisiana-based shipbuilder Metal Shark for Entertainment Cruises’ Potomac Riverboat Company division were delivered to Washington, D.C. Both are now in service. The two 88’, 149-passenger high speed aluminum catamaran vessels – the Potomac Taxi I and Potomac Taxi II – departed Metal Shark’s Franklin, La.
US States Slow Trump Offshore Oil Drilling Expansion Plan
The Trump administration's plan to broadly expand drilling in U.S. offshore waters is moving slowly due to opposition from coastal states and indifference from oil companies that have turned their focus to other opportunities. The administration hopes encouraging U.S. energy development outside of shale oilfields will further its goal of "energy dominance." But existing Obama administration lease rules remain in place through 2022 unless the new rules gain approval. The Department of the Interior this year proposed opening vast new acreage in the U.S. outer continental shelf to drilling.
DP World Wins Congo Port Concession
DP World, the Dubai-based ports operator, announced it has won a 30-year concession for the management and development of a port project in the Democratic Republic of Congo (DRC). The deal gives DP World an option to extend its management and development for a further 20 years, and is for a greenfield multi-purpose port at Banana. "The Port of Banana will be the first deep-sea port in the country along its small coastline of 37 kilometres, which currently only has the riverine port of Matadi," said a statement.
Fincantieri Buys Majority Stake in STX France
Italian shipbuilding company Fincantieri S.p.A. said it has signed a share purchase agreement for the acquisition of 66.66 percent of the share capital of STX France shipyard from its current shareholder STX Europe AS. The agreement entails a purchase price of €79.5 million ($89 million). Fincantieri continues to negotiate with the French State for the finalization of the shareholders’ agreement for STX France in accordance with the Heads of Terms signed on April 12. Based in Saint-Nazaire…
Macron Seeks Review of STX Shipyard Sale to Fincantieri
French President Emmanuel Macron said on Wednesday he wanted to review the terms of a recent deal to sell a large stake in the STX France shipyard to Italian group Fincantieri. Speaking at the launch of a new cruise ship, Macron said the STX France's shareholder structure should neither put jobs at risk nor jeopardise its capacity to win new business. "I want to see the initial balance agreed in April to be revised," Macron said, adding that he was nonetheless in favour of the tie-up with the Italian company.
Ballast Water Compliance: More than a System, it is Knowledge
The ratification of the IMO Ballast Water Management Convention date is fast approaching, and according to a survey we conducted with more than 35 port state control (PSC) personnel, many will not be prepared come September. There is a lot of uncertainty in the shipping industry in general, with 70 percent of the survey respondents aware that ballast water regulations had been ratified, but zero percent had a plan in place to address the duties of ballast water compliance. The…
Weak US Imports Push European Gasoline East
Unusually bloated gasoline inventories in the U.S. during peak summer driving season has kept the transatlantic arb barely workable. EIA data indicates that gasoline imports into the U.S. East Coast (PADD 1) for June averaged 549 kb/d so far, down by 15.4 percent m-o-m. As such, an atypical influx of LR tankers carrying gasoline from Europe have been fixed to the East in recent weeks. At least 6 LR2 and LR1 tankers loaded with gasoline are heading from the ARA region to AG/Singapore in June.
France to Nationalize STX if Italy Deal Fails
French govt has made 50/50 ownership offer to Italy; Minister says offer on the table until Thursday. The French state said on Wednesday it would nationalise the STX France shipyard if Italy does not accept its offer to split STX's capital equally, putting down a marker on the limits of economic liberalism under new President Emmanuel Macron. The threat raises the stakes in a standoff with Rome over the shipyard's fate, the only one in France with facilities large enough to build aircraft carriers.
The Evolving ATB Jones Act Business Model
Today’s ATB play seemingly has legs for the long haul, as operators build and market needs fluctuate. The refined product trades are always in flux. Similarly, the supply patterns for products (and for chemicals derived from oil refining) are subject to constant change. At the same time, the distribution of refined petroleum products sees great benefit from the efficiency of Articulated Tug Barges (ATBs), which have the flexibility to adjust to dynamic supply programs between refineries and myriad distribution facilities dotting the coastline. It wasn’t always like that.
Harvey Produces Rare Jet Fuel Exports to U.S.
Traders are shipping jet fuel from Europe to the United States, where Tropical Storm Harvey has sparked concern over possible shortages of the aviation fuel. French oil major Total has booked the Maersk Misumi and Butterfly to load 37,000 tonnes each of jet fuel in Europe in the coming two weeks for transatlantic transportation, shipping reports showed. Total also has a provisional booking of the Seaways Alcmar to load 37,000 tonnes of jet fuel in Malta on Sept. 4, with delivery options to the U.S. Gulf or U.S. Atlantic Coast.
CFE Awards 9-Cargo LNG Tender for Q4 Delivery
Mexico's state-run power utility CFE has picked Royal Dutch Shell and most likely Cheniere Energy to deliver nine liquefied natural gas (LNG) cargoes in the fourth-quarter, trade sources said. Traders said Shell won most of the tender, which was awarded on Tuesday, with shipments to be spread across October, November and December into the Altamira terminal on Mexico's Atlantic coast, traders said. Some traders said Cheniere took a share of CFE's requirement. Reporting by Oleg Vukmanovic