SBM Offshore Reaches Settlement in Brazil Corruption Probe
SBM Offshore has reached a settlement in a long-running corruption investigation it faced in Brazil, allowing the Dutch marine engineering group to take up new business there.SBM said late on Thursday it would pay approximately $189 million to the Brazilian authorities and state oil company Petrobras in fines and compensation for damages.The company would not receive earlier agreed performance bonuses worth about $180 million in the period until 2030, it said.The agreement would…
Peak Pegasus Finally Unloads US Soybeans in China
A vessel carrying U.S. soybeans was unloading its cargo worth at least $23 million at the Chinese port of Dalian on Monday, becoming one of the first shipments to incur hefty new import duties as the trade row deepens between Beijing and Washington.The docking of the vessel after five weeks anchored off China's coast ended long-running speculation over the fate of the cargo, which had captured public attention.China's state grains stockpiler Sinograin confirmed in a fax to Reuters it will pay the additional 25 percent import tariff on its 70,000 tonne cargo of the oilseed.
SBM Offshore to Pay Additional Fines to Petrobras
SBM Offshore has reached a settlement to pay additional leniency fines of 200 million reais ($48.27 million) to Brazil's state oil company Petroleo Brasileiro SA, Brazilian prosecutors said on Wednesday.As a result of a long-running corruption investigation, the Dutch marine engineering group SBM has agreed to pay a total of 1.4 billion reais in fines and compensations for its role in the scandal.
Oceana Goes to London to Protect UK Seas
Oceana, the largest international ocean advocacy organisation, has opened the organisation’s office in London to strengthen Oceana’s policy and research work to protect marine life and restore fish populations in the United Kingdom (UK).“Oceana is joining the marine conservation community in the UK at a turning point in public engagement and concern for the oceans. Now we need to move beyond conserving the oceans to actually restoring marine life and rebuilding fish populations…
Mariner Training in Brazil: Inside the Institute of Nautical Sciences
For a long time there has been a deficit of trained maritime officers in Brazil, as for decades the only accredited training institutes were run by the Brazilian Navy, where a very limited number of prospective maritime deck and engine officers could be trained at its two training institutes in the country. That's all changing now with the Institute of Nautical Sciences (ICN) leading the way.With the discovery of the pre-salt in 2007 and the continued growth of the maritime and offshore sectors, the lack of qualified Brazilian officers became acute.
Solstad Farstad Bags Contract with Fairfield Industries
Solstad Farstad ASA (SOFF) has entered into a contract with Fairfield Industries Inc. for the CSV “Normand Tonjer”. The contract will commence in 3Q 2018 and has a duration of one year firm plus two yearly options.Fairfield will use the vessel to support their innovative worldwide ocean bottom seismic survey using node-based technology.Solstad Farstad has updated other contracts too. The key contracts in the subsea construction segment include Far Saga contract extension with Petrobras until 2Q’20…
Container Overbooking Causing Delays for Brazil Exports -Maersk
Brazilian exporters are facing delays shipping goods transported in containers, including coffee and cotton, due to overbooking, the world's largest container shipping company, A.P. Moller-Maersk A/S, said on Monday.In a report on its operations in Brazil, Maersk said exports fell for the second quarter in a row, citing the practice of some exporters reserving more space in ships than they need, leaving other companies failing to find room for their cargo."Exporters are hurting each other when they book space they end up not using…
Wilson Sons Delivers Tug to SAAM SMIT in Brazil
Wilson Sons Estaleiros has delivered the third Damen designed ASD Tug 2411 to SAAM SMIT Towage in Brazil. The vessel is part of a four-vessel order, the final unit of which the shipyard is on track to deliver according to schedule in November this year.Damen has partnered with Wilson Sons for over 20 years. Under the arrangement of the relationship, Wilson Sons builds vessels using a Damen design, engineering and materials package. The delivery later this year of the final vessel of the SAAM SMIT order will mark the 91st Damen-designed vessel built by Wilson Sons.
Damen Supplies Submersible Dredge Pump in Brazil
Brazilian civil engineering contractor has taken delivery of a new submersible dredge pump for creating an access channel into the sea for a new power plant currently under construction.The Damen DOP150 dredge pump is now in operation, creating the access channel for a critical pipeline for the plant’s cooling system and when completed it will extend 600 meters out into the sea. Over the course of the project the DOP150 is expected to remove around 30,000 cubic meters of material.The Damen DOP150 is being used to extract sand in the surf zone, varying in density from loose to medium fine.
Global FPSO Market to Exceed USD 115 bln by 2024.
Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth.Increase in the conversion of vessel to FPSO to augment the productivity and minimize the capital expenditure may complement the business growth, said a report from Global Market Insights.Converted FPSO market is witnessed to grow over 18%. Comparison with new built…
Transpetro Selects KVH VSAT for 45 Tankers
Connectivity solutions provider KVH Industries, Inc. announced that Brazilian oil and gas transport company Transpetro has chosen KVH VSAT connectivity for the majority of its tanker fleet. Transpetro, which provides transportation for the Brazil's state-owned oil and gas company Petrobras, chose KVH’s TracPhone V7-HTS satellite communications antenna system with a five-year airtime contract for 45 tankers, including a combination of newbuilds and existing vessels. The installations will take place throughout the next 12 months in Brazil…
Port of Rotterdam Pact for Brazil's Pecém Port
As shareholders in the Port of Rotterdam Authority, the Municipality of Rotterdam and the Ministry of Finance have approved the participation in the Port of Pecém, a rapidly growing port in Northeast Brazil.The participation involves an investment of some 75 million euros and, in addition to holding 30% of the shares, the Port of Rotterdam Authority will have joint control of strategic decisions and positions at Executive Board, Supervisory Board and management level.The Port of Rotterdam Authority and Ceará State are expected to sign the decision next month…
Brazil Becomes Core Ares for Equinor
With daily oil production of over 90 000 barrels per day from current fields and with expected investments of more than 15 billion USD until 2030, Brazil has become a core area for Equinor.A press release said that Brazil stands out globally as one of the most promising offshore oil and gas basins with a significant remaining resource base. In addition, the country has a huge potential within renewable energy.Brazil is a great fit with Equinor’s strategy, using the strengths from the experience on the Norwegian Continental Shelf.
Transocean to Buy Ocean Rig in $2.7 Bln Deal
Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers, which were hit hard by the steep plunge in oil prices from 2014. Offshore projects, which are more costly than onshore work and take years to develop, became less attractive after oil prices fell to below $30 a barrel in 2016.Global crude prices have since recovered to above $70…
Port Management and Efficiency Training in France
High-level officials and decision-makers from maritime and port authorities around the world are undergoing intense training in port management and operational efficiency at the annual Advanced Course on Port Operations and Management based in Le Havre, France (10 September to 12 October).The opening of the course coincided with Le Havre's celebration of World Maritime Day and its theme: International Maritime Organization (IMO) 70 Our heritage – better shipping for a better future.IMO's Chris Trelawny delivered the opening address and lectured on the role of IMO…
AET and Shell Sign DPST Contract
Shuttle tanker owner AET, a wholly-owned subsidiary of Malaysia's MISC Group, has won its first contract with Shell in Brazil to time charter one new-build dynamic positioning shuttle tanker (DPST).AET earlier this year sealed a long-term charter for two newbuild LNG-fuelled Aframax tankers with Shell that is set to begin in the fourth quarter of this year.AET President & CEO Capt. Rajalingam Subramaniam said: “Shell has chosen to use our shipping services for many years and…
Aker Solutions Wins Services Contract with Petrobras
Petrobras has awarded Aker Solutions a contract to provide maintenance and modifications services for nine platforms at oil and gas fields in the Campos Basin offshore Brazil.The Campos Basin extends approximately 100,000 square kilometers. The three-year contract is valued at more than BRL 250 million and includes an option for a two-year extension.Aker Solutions will be renovating, repairing and upgrading offshore production units for Petrobras' Campos Basin Operational Unit (UO-BC).
Drewry: Capesize Charter Rates to Go Up
Drewry maintains a positive outlook on the dry bulk market and expects charter rates to improve from current levels, driven by moderate increases in vessel demand and low growth in vessel supply as a result of restrained new ordering and a thin orderbook, according to the latest edition of the Dry Bulk Forecaster, published by global shipping consultancy Drewry.The uncertainty surrounding the dry bulk market, driven by trade wars could, nonetheless, slow down the increase in charter rates.
Brazil Minimum Freight Rates Hurt Port Cargos -Association Chief
Brazil's policy of setting minimum freight rates is reducing the volume of cargo at Brazilian ports as farmers and agricultural exporters have difficulty arranging transportation at higher cost, according to the head of a Brazilian ports association.The country instituted minimum rates for freight above the previous market rate as part of a deal to end a truckers' strike over high diesel prices in May. The strike paralyzed the country's roadways, preventing agriculture exports…
Stena Bulk Charters Out MR Tanker Pair to Petrobras
Stena Bulk said it has signed a contract with Brazil's state-owned oil company to charter out a pair of MR product tankers for transporting refined products along the Brazilian coast. The two-year deal includes the option to extend the charters for another 11 months.The 47,000 dwt tankers, Stena Conqueror and Stena Conquest, were built in 2003 and 2004 respectively.“We have a long-standing, highly-valued relationship with Petrobras when it comes to both Suezmax and MR tankers and we are committed to continue to provide them with safe and efficient deliveries.
Coffee Exporters Struggle to Find Ships for Brazil Bumper Crop
Brazilian coffee exporters are struggling to find shipping capacity to transport a bumper crop from the world's top producer, which could result in supply delays to roasters worldwide.Abundant overall supplies in consuming countries, however, will limit any near-term impact from shipping delays of Brazil's new crop and are not yet seen impacting coffee prices that are 12-year lows.Farmers in Brazil are finishing what the government and industry expect to amount to a record coffee…
INSIGHTS: John Rynd / President , CEO and Director, Tidewater Inc.
Mr. John Rynd graduated from Texas A&M University with a Bachelor of Arts degree in Economics. He previously served as Chief Executive Officer and President, and as a director of Hercules Offshore from 2008 through 2016. Prior to his time with Hercules, Mr. Rynd spent 11 years with Noble Drilling Services, Inc., where he served in a variety of management roles. Earlier in his career, he served in various roles of increasing levels of responsibility with Chiles Offshore and Rowan Companies. Beyond this, Mr.
Klaveness Combination Carriers Seeks Fund for CLEANBU Vessels
Norwegian shipping company Klaveness Combination Carriers AS holds several attractive growth options and is now launching a contemplated private placement of shares with total gross proceeds of approximately USD 45-70 million.The owner and operator of modern combination carriers said that current investors, management and previous CABU investors will subscribe for USD 25 million.Klaveness Combination Carriers AS (KCC), with its nine CABU vessels in operation and five CLEANBU vessels on order, is the leading owner and operator of modern combination carriers.