Russian Share of European Gas Growing
With gas supplies growing at a faster rate than domestic demand, Russia can increase pipeline and liquefied natural gas (LNG) exports to Europe, said a report.Russia’s gas production has been steadily increasing since the low of 611 Bcm in 2015, and reached 695 Bcm in 2018, according to a report form Rystad Energy, an independent energy research and business intelligence companyMature fields exhibit relatively high decline rates, but volumes from the recent start-ups and discoveries in Yamal, East Siberia and the Far East are expected to offset the decline.
US to Overtake Saudi in Oil Exports
United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company, it is a a pivotal geopolitical shift. The US has for decades relied on large-scale imports to satisfy its thirst for oil, but this is about to change.The Energy Information Administration (EIA) reported last week that the United States exported more crude and petroleum products than it imported.
US Shale Firms Cut CapEx, Up Production
U.S. shale energy companies are cutting their spending levels in 2019, but they're still planning on increased oil and gas output."US shale companies expect to deliver an average of 15% growth in oil production in 2019 vs. 2018. At the same time, operators say they will cut capital spending by 5% this year," said an analysis from Rystad Energy.The energy research and business intelligence company has analyzed the recently released earnings reports for the fourth quarter of 2018 from 45 US operators…
U.S. Fracking Shrinks by 25% in 2H2018
The new median estimate for nationwide fracking activity in December 2018 suggests 36 frac jobs per day, said a research.The energy research and business intelligence company Rystad Energy revealed in a study that 25% contraction in fracking activity between the peak in May-August 2018 and the end of the last year.It should be noted that in both November and December 2018 fracking activity level exhibits negative year-over-year change, it said."There is no doubt that significant part of this decline was driven by seasonal weather and capital constraint factors…
The Smart Shipping Vision: Class Delivers
Shipping’s digital transformation is all around us, impacting the smallest vendor to the largest owner, across flag, class and shipyards, right up to the primary regulator.In these early days, there are many competing visions of the digital future. But the central question for ship owners and operators should not be whether their partners are delivering the required solutions; it should be whether they themselves are undergoing the digital transformation of their operating models…
BGC Enters Shipping, Buys Poten & Partners
Global financial and technology giant BGC Partners has completed the acquisition of Poten & Partners, a ship brokerage, consulting and business intelligence firm specializing in LNG, tanker and LPG markets.Under the terms of the agreement, BGC acquired 100 percent of Poten, which includes operations in New York, London, Singapore, Houston, Athens, Guangzhou and Perth, the company said in a statement.Founded over 80 years ago and with 170 employees worldwide, Poten provides its clients with valuable insight into the international oil, gas and shipping markets. Shaun D.
ABS Grants AIP for Wärtsilä HY Hybrid Power Module
Wärtsilä’s hybrid power module, the Wärtsilä HY, has been granted Approval in Principle (AIP) by ABS. This AIP follows another issued by ABS in 2017 for Wärtsilä’s hybrid propulsion tug designs.Wärtsilä said it leveraged its strengths in both engine design and electrical and automation (E&A) systems do develop the fully integrated hybrid power module combining engines, an energy storage system and power electronics optimized to work together through a newly developed energy management system (EMS).
Morten Mosegaard Christensen New CFO for Maersk Tankers
Maersk Tankers has appointed Morten Mosegaard Christensen as its new Chief Financial Officer (CFO).Christensen joins Maersk Tankers from Danske Bank where he serves as interim CFO and Chief of Staff. Previously, he has held leadership positions at Danske Bank, including Head of Group Finance and Head of Group Financial Management.He has long experience in finance in areas such as performance management, tax, cost control, accounting, business intelligence and capital management. He has also worked in strategy and business development at a senior management level.
Next-wave LNG Terminals get Smaller, More Flexible
The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector's next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter, more flexible contracts. LNG export terminals, where the gas is liquefied and put on vessels for shipping, have traditionally been massive, custom-built facilities that cost tens of billions of dollars. And so to justify the investment, they have typically required equally massive, long-term supply deals, often lasting a decade or more.
DMA to Digitalise Port State Control
The Danish Maritime Authority (DMA) and European Maritime Safety Agency (EMSA) are examining how online control of certificates could make Port State Control (PSC) inspections more efficient. This happens in the wake of the DMA’s implementation of digital certificates on Danish ships. Time is money, and PSC inspections are time-consuming since they include scrutiny of the ship’s certificates as well as inspection of its compliance with operational and safety regulations. But how to make PSC inspections more efficient without compromising safety? By enabling online control of certificates.
ABS Rolls Out New Fleet Management Software
ABS announced the release of its Nautical Systems (NS) Enterprise fleet management software, including NS Insight, a new business intelligence module. The NS solution provides complete capabilities to plan, execute and document all compliance work processes. The release includes a new cloud-based NS Voyage Manager, the latest mobile applications, an expanded NS Autologger, and enhancements to NS Health, Safety, Quality and Environmental (HSQE) Manager. “Effectively managing compliance is a core business objective for our clients,” said ABS Chief Digital Officer, Howard Fireman.
Voices: Howard Fireman, SVP & CTO, ABS
As industry increasingly evolves on the digital transformation path, inevitably the focus turns to the move toward cloud computing. Last month Maritime Reporter & Engineering News spoke with Howard Fireman, SVP and Chief Technology Officer of the American Bureau of Shipping (ABS) for take on how industry innovators – large and small – in the shipbuilding and marine equipment sectors are leveraging inherent advantages of cloud computing to better position themselves for the competitive long-haul.
Marlink Delivers Fleet Xpress on Antarctic Support Vessel
Marlink said it has migrated Aker BioMarine’s Antarctic krill harvester fleet support ship, La Manche, to Inmarsat’s Fleet Xpress service. The system provides a boost to crew communication facilities on board as well as enables vessels to benefit from improved business intelligence and remote access to the vessel’s IT network. The service uses the XChange Universal Remote Access (URA) solution, one of Marlink’s many Value Added Services available on Fleet Xpress. “Fleet Xpress has transformed our communication capabilities aboard La Manche.
Topaz Signs with Orange for a Maritime Connect Solution
Dubai-based Topaz Energy and Marine has signed an agreement with Orange Business Services for a Maritime Connect solution that connects its fleet at sea and supports the corporate network. Topaz is an offshore support vessel company for the global energy industry. The Orange integrated communications platform increases the efficiency of the fleet, lowers cost and improves the onboard experience for crew. Under a three-year agreement Orange is initially connecting 39 vessels from the Topaz fleet…
MacGregor Invests in Software to Drive RoRo Efficiency
MacGregor, part of Cargotec, said it has acquired the rights for a ships efficiency software from Lekven AS to increase RoRo vessels operations efficiency and to drive port call optimization. The contract was signed in June 2017. According to the contract, MacGregor acquires the rights for an operational efficiency software for ships, ports and adjacent activities. This software will be further developed and launched to the market during 2017. "This collaboration is an ideal fit to MacGregor offering as part of our strategy is to support RoRo ship owners and operators to improve their existing and future fleet efficiency by eliminating inefficiencies for smarter cargo handling," said Magnus Sjöberg, Vice President, RoRo Division, MacGregor.
Veson Nautical Solution Earns EU’s MRV Certification
Commercial maritime software and services provider Veson Nautical announced that Verifavia, the emissions verification company for the aviation and shipping sectors, officially certified its Veslink Voyage Reporting system as a solution for the European Union’s (EU) upcoming Monitoring, Reporting, and Verification (MRV) regulation. Veslink Voyage Reporting streamlines data collection and distribution from vessels, operators, agents and counterparties, and is used by more than 100 of the top shipping organizations worldwide, managing over 5,000 vessels. Verifavia Shipping, a fully-accredited global EU MRV Verifier by the United Kingdom Accreditation Service (UKAS) and the French Accreditation Body (COFRAC)…
Wallem Group, Inmarsat Sign Fleet Xpress Deal
Inmarsat has reached an agreement with Wallem Group, one of the largest and ship management companies in the industry, establishing the phase-in of Fleet Xpress as its favored connectivity choice for ships at sea. Already contracted for over 10,000 vessels since it was launched just over one year ago with a rapidly increasing share of the VSAT market, Fleet Xpress delivers high-speed broadband to the maritime market through a unique combination of Ka-band backed up by the mobility and reliability of FleetBroadband using Inmarsat’s L-band capabilities. The combination guarantees global bandwidth while enabling owners and operators to improve business intelligence, enhancing vessel performance and crew welfare.
DNV GL Launches LNG Fuel Finder
Just in time for Nor-Shipping, DNV GL will launch the LNG Fuel Finder - a new tool on its LNG business intelligence portal LNGi. The new LNG Fuel Finder service will allow shipowners and charterers to register their interest in using LNG as a ship fuel free of charge, connecting them directly with LNG suppliers. DNV GL has also introduced the option of signing up to a new lean version, where interested parties can access some of LNGi’s services and data free of charge. The question…
How Eagle Bulk Shipping is Using Big Data
It may come as some surprise, but Eagle Bulk Shippng is a progressive leader in the use of big data to monitor and manage its fleet. Jonathan Dowsett, Senior Fleet Performance Manager, explains in a recent interview with Maritime Reporter TV. For our readers not familiar, who is Eagle Bulk Shipping? Eagle Bulk Shipping Inc. is a US based owner and operator of 40 Supramax size bulk carriers. Both commercial and technical management is handled in-house. We are the third largest owner of Supramax bulk carriers in the world. And as Senior Fleet Performance Manager, what precisely is your job?
MOL to Restructure Organization
The Japanese shipping company Mitsui O.S.K. Lines, Ltd (MOL) will restructure its organization effective April 1, says a press statement from the company. MOL is establishing the Product Transport Business Unit, under which much of the carrier and port divisions will reside. It has also submitted an application to establish a logistics subsidiary in India. The company will establish the Product Transport Business Unit to create the cross-sectional system “One MOL” to promote businesses in the product transport field and further meet customer needs.
Descartes Acquires Datamyne
Descartes Systems Group, a leader in uniting logistics-intensive businesses in commerce via the Global Logistics Network (GLN), announced that it has acquired Datamyne, a provider of cloud-based trade data content solutions for customers to analyze import and export trade activity. Datamyne, primarily operating in the U.S. and South America, collects, cleanses and commercializes logistics trade data from over 50 nations across five continents, including key markets in North America, Latin America, Asia, Africa, and the European Union. More than 100 million records are gathered each year from official filings with customs authorities and trade ministries.
What’s New in Floating Production? December 2016
The December WER report examines whether OPEC’s decision to limit crude production will accelerate deepwater project starts over the next 12 to 24 months, given 3 billion barrels of oil stocks in global inventory, 5,000+ drilled-but-uncompleted shale wells in the U.S. ready to be fracked and likelihood that producers will cheat on output quotas. As we discuss in the report, the output cut could stimulate deepwater orders – but with a time lag. We also assess whether Hoegh and Maran’s orders for seven speculative FSRUs (two firm…
Clarksons Platou's Inaugural Seminar at DMCA’s Dubai Maritime Week
The Dubai Maritime City Authority (DMCA) is set to facilitate a first-of-its-kind seminar dedicated to Middle East shipping and offshore activities. The event will be conducted by Clarksons Platou, a global leader in maritime brokerage and investment banking, as part of Dubai Maritime Week 2016 – the third edition of the region’s first comprehensive maritime event organized by the Authority, which will run from October 30 to November 3. The seminar is expected to attract several prominent regional and international industry figures and further reinforce Dubai’s growing popularity as a hub for major maritime events. Clarksons Platou’s inaugural ‘Middle East Shipping & Offshore Seminar’ will be held at the Dubai World Trade Centre on Monday October 31, 2016.