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Thursday, March 28, 2024
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Baker News

10 Mar 2024

Esgian Week 10 Report: Additional Backlog Secured

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Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

01 Mar 2024

Ukraine Expands Ship War Insurance with Marsh & Lloyd's to Iron Ore, Steel

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Insurance broker Marsh and Lloyd's of London underwriters have expanded a marine war insurance program backed by Ukraine from grain shipments to all non-military cargo, such as iron ore and steel, Marsh said on Friday.Marsh, Lloyd's and Ukrainian state banks launched an initial program in November to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, following Russia's invasion of Ukraine two years ago."Expanding insurance to cover ships carrying all non-military cargo is extremely important for Ukraine…

19 Feb 2024

Gulf LNG Tugs to Provide Towage at Texas LNG Terminal in Brownsville

(Image: Texas LNG)

Gulf LNG Tugs of Texas has been selected to provide towage services for the Texas LNG export terminal to be constructed in the Port of Brownsville.Gulf LNG Tugs, a consortium of Suderman & Young Towing Company, Bay-Houston Towing, and Moran Towing Corporation, will build, deliver and operate tugboats under a long term agreement to assist LNG carriers arriving at the facility.Texas LNG will be a 4 million tonnes per annum (MTPA) liquefied natural gas (LNG) export terminal owned and managed by Glenfarne Energy Transition.

07 Feb 2024

US, UK Ship Investors Hit by Soaring Red Sea Insurance

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War underwriters have raised the premiums they charge to U.S., British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen's Houthis, sources said.Attacks by the Iran-aligned Houthis since November have slowed trade between Asia and Europe and alarmed major powers. The Houthis say they are acting in solidarity with Palestinians as Israel's war against Hamas militants in Gaza…

17 Nov 2023

BMS Unveils Pipe Mill Barge Concept Design

(Image: Baker Marine Solutions)

Covington, La. based marine engineering and services firm Baker Marine Solutions (BMS) has unveiled a new pipe mill barge concept design targeting uptake in the U.S. offshore wind industry.BMS describes its new 1888 Mobile Pipe Mill Barge concept as an answer to the industry's monopile availability challenges and lack of sufficient yard space for fabrication.The BMS 1888 provides a mobile pipe mill facility that can be scaled to meet the requirements of any specific project, anywhere on the coast…

15 Nov 2023

Marsh, Lloyd's, Ukraine Launch War Risk Ship Insurance to Cut Grain Costs

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Insurance broker Marsh MMC.N, Lloyd's of London insurers and Ukrainian state banks have launched a programme to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, Marsh said on Wednesday.Kyiv launched a "humanitarian corridor" in August for ships bound for Africa and Asia to circumvent a de facto blockade in the Black Sea after Russia quit a United Nations-brokered deal that had guaranteed Kyiv's seaborne exports during the war.Lloyd's of London insurers will underwrite the programme…

12 Apr 2023

LNG Imports Test EU Resolve to Quit Russian Fossil Fuel

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Political pressure is building within the European Union to tackle the daunting challenge of closing a loophole in its efforts to stop using Russian fossil fuels: liquefied natural gas (LNG).In the year since Russia's February 2022 invasion of Ukraine, the EU has placed sanctions on seaborne oil and coal imports from Russia.It has drastically cut reliance on Russian pipeline gas, despite not imposing sanctions on the fuel. But at the same time, EU countries have increased their overall purchases of Russian LNG…

14 Mar 2023

Wave of New LNG Export Plants Threatens to Knock Gas Prices

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A flood of liquefied natural gas (LNG) export projects due online worldwide in mid-decade will vie against lower-cost renewable energy and a revived nuclear power sector, which could rock gas prices and hurt some proposed projects, analysts say.Proposed and approved new LNG plants would boost LNG supply by 67% increase to 636 million tonnes per annum (mtpa) by 2030 from 2021 levels, potentially saturating the gas market."There's over a trillion dollars of natural gas infrastructure being built in the world today.

28 Feb 2023

Yinson Bags $5.3B Deal for its First FPSO Project in Angola

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Malaysian company Yinson has secured a firm contract to provide and maintain an FPSO for Azule Energy, a BP-Eni joint venture, in Angola.The contract, awarded by Eni Angola, is for the provision of the FPSO for the  Agogo Integrated West Hub Development Project in Angola (“FPSO Agogo”).According to Yinson, the contract is worth about $5.3 billion in total and has a firm period of 15 years from the date of the final FPSO's acceptance. Azule Energy will have the option to extend for another five years. The FPSO Agogo is expected to start operations in the fourth quarter of 2025.

24 Feb 2023

Insurers Count the Cost of Ships Snagged in Ukraine Crisis

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Insurers are facing half a billion dollars in claims for up to 60 commercial ships still stuck in Ukraine a year after the start of the war with Russia, industry sources said.When the conflict started, more than 90 merchant ships - many with food cargoes onboard - and some 2,000 crew members were caught in Ukraine and unable to leave due to the fighting.Curtailed shipments from major grain exporter Ukraine played a role in the resulting global food crisis.According to shipping and insurance industry assessments…

20 Jan 2023

First Cruise Ships Tap Shore Power at Port of San Diego

(Photo; Port of San Diego)

On January 13, two cruise ships plugged into the newly completed shore power expansion at the Port of San Diego cruise ship terminal for the first time – a doubling of the previous capacity.The Disney Wonder and the Insignia were able to simultaneously use shore power rather than running their diesel engines while at berth. Previously, only one cruise vessel could plug in.The recent addition of the new station along with the initial one installed in 2010 make it possible for the…

19 Jan 2023

US Navy Relieves Two Commanding Officers

File photo: Arleigh Burke-class guided-missile destroyer USS Carney (DDG 64) departs Naval Station Rota, Spain, in June 2020. (Photo: Peter Lewis / U.S. Navy)

The U.S. Navy on Thursday announced it has relieved the commanding officers of two of its U.S. East Coast warships, USS Carney (DDG 64) and USS Mesa Verde (LPD 19).In separate statements, the Navy said it relieved Cmdr. Alexa Jenkins and Capt. Michael D. Nordeen, citing loss of confidence in their ability to command.Jenkins, who served as commanding officer of the USS Carney (DDG 64) since June 2022, was relieved by Capt. Jennifer Blakeslee, commodore, Naval Surface Squadron 14 (CNSS 14).Jenkins will be temporarily reassigned to the staff of Commander, Naval Surface Squadron 14, and Capt.

06 Jan 2023

Venezuela's Oil Exports Fall in Spite of Iranian Assist

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Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected to get a lift after the United States relaxed oil sanctions by authorizing some partners of state-run firm Petroleos de Venezuela (PDVSA) to resume taking Venezuelan crude.Iran expanded its role in Venezuela last year, sending supplies to boost exports and technicians to repair a refinery.

01 Jan 2023

Chevron Sending Two Oil Tankers to Venezuela Under US Approval

U.S. oil company Chevron Corp is sending two oil tankers to Venezuela, one of which will load the first cargo of crude destined for the United States in nearly four years, according to a person familiar with the matter and shipping data.On Friday, a Chevron-chartered vessel approached the South American country's waters to pick up a cargo of Venezuelan crude. A second tanker carrying a cargo of diluents to a Chevron oil joint venture is due to arrive in Venezuela early next month, the person said.The U.S. last month issued a six-month license to Chevron authorizing it to take an expanded role at four Venezuelan oil joint ventures that produce, process and export oil, and to bring their oil to the United States.The U.S. license will reopen oil flows that were shut by U.S.

28 Nov 2022

Chevron Can Resume Key Role in Venezuela's Oil Output, Exports

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Chevron Corp on Saturday received a U.S. license allowing the second-largest U.S. oil company to expand its production in Venezuela and bring the South American country's crude oil to the United States.The decision grants broader rights for the last big U.S. oil company still operating in U.S.-sanctioned Venezuela. However, it restricts any cash payments to Venezuela, which could reduce the oil available to export.License terms are designed to prevent state-run oil firm Petróleos de Venezuela, known as PDVSA PDVSA.UL, from receiving proceeds from Chevron's petroleum sales, U.S. officials said.

11 Nov 2022

BMS Unveils SOV Design for the US Offshore Wind Market

(Image: Baker Marine Solutions)

Covington, La. based marine engineering firm Baker Marine Solutions has unveiled a new service operation vessel (SOV) design for the U.S. offshore wind industry.The new 275-foot (LOA) BMS 1776 is designed be built in the U.S. to ABS class standards and is fully certified to operate in U.S. waters, utilizing U.S. offshore workers, BMS said."With the U.S. offshore wind industry expanding rapidly, U.S. companies must be ready to build SOVs designed specifically for U.S. shipyards to support the installation and maintenance of domestic wind farms," said BMS president Jim Baker.

20 Sep 2022

CLdN Acquires Seatruck Ferries from Clipper Group

(Photo: CLdN)

European RoRo ferry operator CLdN announced on Tuesday that it has entered into an agreement to acquire all shares in Seatruck Ferries Holding Ltd. from Clipper Group. The transaction price was not disclosed.The deal is subject to regulatory approval from the Irish competition authorities, expected before year-end, CLdN said.With eight vessels, Irish Sea operator Seatruck Ferries transports close to 20% of the region’s seaborne cargo volumes. After closing, the Seatruck operation…

20 Jul 2022

Ship Insurers Seek More Assurances on Ukraine Grain Corridor

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Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say.Russia, Ukraine, Turkey and the United Nations are expected to sign a deal later this week aimed at resuming the shipping of grain from Ukraine across the Black Sea.Ukraine's ports have been closed since Russia's invasion in February, which Moscow calls a "special military operation"…

07 Jul 2022

LR Names Abi-Saab Chief Technology and Innovation Officer

Chakib Abi-Saab (Photo: Lloyd’s Register)

Lloyd’s Register (LR) has appointed Chakib Abi-Saab to its newly created role of Chief Technology and Innovation Officer (CTIO). Abi-Saab, who was previously with Bahri (formerly known as the National Shipping Company of Saudi Arabia) as their Chief Technology Officer, joins LR with considerable expertise in technology and digital enablement from both maritime and the oil and gas industry. Before his time with Bahri, Abi-Saab held executive roles at ship management company OSM, offshore energy provider Bumi Armada and Oil and Gas Services provider Baker Hughes.

28 Jun 2022

Baker to Head BOEM's Office of Renewable Energy Programs

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The United States' Bureau of Ocean Energy Management (BOEM) on Tuesday announced Karen J. Baker will lead its Office of Renewable Energy Programs (OREP).BOEM, an agency within the Department of the Interior, manages U.S. offshore energy resources.As Chief of BOEM's OREP, Baker will oversee the development of renewable energy resources on the Outer Continental Shelf through planning, stakeholder engagement, environmental analysis and technical review.“We’re very excited to add Ms. Baker to our team at such a pivotal time in offshore wind development,” said BOEM Director Amanda Lefton.

20 Jun 2022

Briggs Marine to Provide CTVs for Neart na Gaoithe Offshore Wind Farm

(Photo: Briggs Marine)

U.K.-based offshore services firm Briggs Marine said it has secured a contract to deliver crew transfer vessel (CTV) services to the Neart na Gaoithe (NnG) offshore wind farm, currently under construction 15 kilometers off the Fife coast. The project is jointly owned by EDF Renewables UK and ESB.Utilizing its Damen 2610 vessel Forth Engineer, Briggs Marine will transfer technicians to turbines, substations and construction vessels as well as providing a cargo-carrying capability to support construction and operations.Rob Baker…

12 May 2022

Mass Maritime Puts on Offshore Wind Training Demo for Governor Baker

Photo Courtesy Massachusetts Maritime Academy

Governor Charlie Baker, Energy and Environmental Affairs (EEA) Secretary Bethany Card, and Massachusetts Clean Energy Center CEO (MassCEC) Jennifer Daloisio joined Massachusetts Maritime Academy (MMA) officials for a Global Wind Organization (GWO) training demonstration at the Academy. Nearly three years since helping launch MMA’s first-in-the-nation offshore wind crew transfer training facility, Governor Baker returned to observe a wind and life raft training and highlight the investments the Baker-Polito Administration is proposing to expand the offshore wind workforce further.

12 May 2022

Lack of Icebreakers Hinders Great Lakes Shipping

(Photo: Great Lakes Maritime Task Force)

A lack of U.S. Coast Guard icebreaking capacity is hindering shipping on the Great Lakes, a U.S. maritime industry coalition said on Thursday.During this year’s ice season, the U.S.-flag Great Lakes shipping industry lost the equivalent of a month due to delays in ice covered waters, according to the Great Lakes Maritime Task Force, which represents U.S.-flag vessel operators, shipboard and longshore unions, port authorities, cargo shippers, terminal operators, shipyards and other Great Lakes interests.