Business Intelligence News

28 Nov 2019

Container Contract Rates Rise in November

Pic: Xeneta

The ongoing trend of downward pressure on long-term contracted ocean freight rates appears to have been broken, or at least temporarily derailed, with marginal increases seen across the board in November.According to the latest XSI Public Indices report from Xeneta, which provides unique business intelligence based on real-time crowd-sourced data from the world’s leading shippers, global rates climbed by 0.9% over the last month. This disrupts a long-term pattern of decline that…

24 Nov 2019

Smart Ports: Piers of Future

Ffrom left: Jens Meier, Hamburg Port Authority, Mercè Conesa, Port of Barcelona, Gene Seroka Port of LA. Photo: © Smart Ports

For the first time, the ports of Antwerp, Barcelona, Hamburg, Los Angeles, Montreal and Rotterdam come together to showcase their most advanced digital transformation and sustainability projects at their dedicated ‘Smart Ports’ exhibitThe 'Smart Ports. Piers of the Future' event brought together six of the world's largest ports and has turned Barcelona into the world capital of port innovation.At the Smart City Expo World Congress, held from 19 to 21 November at the Fira de Barcelona events center on Gran Via…

13 Aug 2019

DNV GL's ShipManager for Saipem 7000

Saipem 7000 (Photo courtesy of DNV GL)

Saipem, a energy and infrastructure solution provider, is implementing DNV GL’s hull planned maintenance system, ShipManager Hull, based on 3D digital twins of crane and pipelaying vessels.DNV GL will supply its advanced software, ShipManager Hull, for implementation on five vessels of the Saipem fleet. It will start with Saipem 7000, one of the world's largest crane vessels with a lifting capability of 14,000 tonnes at 42 meters. Indeed, crane vessels are exposed to high stresses during lifting, demanding particular attention to structural integrity.

11 Aug 2019

US Reduces Upstream Activity Abroad

Graph: Rystad Energy

Rystad Energy data reveals that from 2014 to 2018, companies in Asia which experienced a merger and acquisition showed the most significant growth globally, increasing oil and gas production by about 1.4 million boepd by investing heavily in Asia, Russia and the Middle East.In North America however, the trend is quite the opposite, said the energy research and business intelligence company.North American companies which underwent M&A activity reduced their production over the same period by approximately 1.3 million boepd…

13 Sep 2019

US Shale to Peak at 14.5Mbpd in 2030

Graph: Rystad Energy

US shale supply will peak at approximately 14.5 million barrels per day (bpd) around 2030, said the energy research and business intelligence company Rystad Energy.In the past decade, crude oil coming from shale patches such as the Permian in the US has grown from a negligible contributor to an upstream behemoth, reshaping the industry and the oil market.US Light Tight Oil (LTO) represented less than 1% of global oil supply just nine years ago. Today, US LTO represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward. But by how much?

05 Aug 2019

Investments in Exploration Drilling to Double

Image: Rystad Energy

Rystad Energy sees investments both in offshore and onshore exploration drilling doubling in the next five years, compared to the last five years. Conventional onshore demand will be driven by Asia, Africa and South America.Europe on the other hand, will be a hot spot for offshore exploration, led by investments on the Norwegian Continental Shelf, the energy research and business intelligence company said.In the past few years conventional exploration drilling has been on a rocky road…

26 May 2019

Frac Sand Prices to Remain Flat

Graph: Rystad Energy

Demand for sand to be used by the oil and gas industry in hydraulic fracturing operations in the US is set to grow by 10% in 2019 and 17% in 2020, said a report.According to Rystad Energy, frac sand supply, on the other hand, is forecast to increase by 10% in 2019 and then decrease by 2% in 2020 as more Northern White Sand will come off the market.The Eagle Ford Basin in South Texas could play a pivotal role for sand price developments going forward, said the energy research and…

27 May 2019

Wärtsilä Debuts HY for Dredgers

The Wärtsilä HY for Dredger is designed specifically to increase the efficiency and sustainability of dredging operations. Photo: Wärtsilä

Wärtsilä launched the Wärtsilä HY for Dredger, a new product based on Wärtsilä’s HY hybrid propulsion technology, aimed at enhancing the efficiency and sustainability of dredging operations.The product was recently unveiled at a Future Dredger Day event held at the Wärtsilä's Hybrid Center in Trieste, Italy. The Wärtsilä HY for Dredger features a combination of different power sources, including the engines and energy storage systems, the power distribution equipment, and the Energy Management System (EMS). The EMS ensures instant load taking and dynamic power demand.

17 May 2019

North Sea Oil Production May Go Down

Graph: Rystad Energy

On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling, Rystad Energy said."Currently we see unplanned outages at Oseberg and Flotta with combined impact of 160,000 bpd. Furthermore, the North Sea is heading into maintenance season," said the energy research and business intelligence company."We forecast North Sea oil production to drop next month to the lowest level since August 2014 as Ekofisk goes into maintenance…

13 Jun 2019

Singapore Firms Select ABS Systems

Image: ABS

Singapore-based offshore marine services provider PACC Offshore Services Holdings Ltd (POSH) and the maritime logistics solutions provider Pacific Carriers Limited (PCL) have selected ABS Nautical Systems  (NS) fleet management software to support their digitalization strategy.Both PCL and POSH are part of Kuok Singapore Limited (KSL) Maritime Group of companies, with competencies extending across offshore marine services, commercial shipping and marine engineering. Both POSH and PCL operate a combined fleet of 245 vessels including tankers…

07 Jun 2019

US Oil Output Heads for More Records in 2019

Graph: Rystad Energy

U.S. total oil production, which is already off to an amazing start in 2019,  is on track to set another record for this year.New records are expected both when the final numbers for May emerge and at the end of the year, said Rystad Energy.The energy research and business intelligence company is raising its forecast for US crude output to 13.4 million barrels per day (bpd) by December 2019. For May 2019, our research and calculations point to crude oil production averaging 12.5 million bpd. Both are new all-time highs.“Our US supply projections have been revised up yet again.

10 May 2019

U.S. Shale: World’s 2nd Cheapest Source of Supply in Oil

Graph: Rystad Energy

North American tight oil is emerging as the second cheapest source of new oil volumes globally, just shy of the Middle East onshore market, Rystad Energy said.The U.S. shale oil was the world’s second most expensive oil resource just four years ago, the energy research and business intelligence company pointed out.“As the majors are struggling to replace conventional liquids, a wealthy source of additional resources is tight oil,” says Espen Erlingsen, Head of Upstream Research…

16 Jul 2019

Africa to Complete 6 High Impact Wells

Map: Rystad Energy

As many as six high impact wells are yet to be completed this year around Africa, after several consecutive low-activity years with only a few positive results.According to the energy research and business intelligence company Rystad Energy, these wells all target offshore acreages, with the majority planned in the Western African region.“Africa appears to be emerging from a long hibernation in terms of oil and gas exploration activities,” said Rystad Energy Upstream Research analyst Taiyab Zain Shariff.A steep drop in the number of exploration wells in 2015 fueled by budget cuts…

26 Jul 2019

US Fracking Rate Goes Up

Graph: Rystad Energy

Fracking operations across the US have realized a material uptick in June this year after an essentially flat trend from February to May, when activity was still in recovery mode after a seasonal winter dip.According to Rystad Energy, the June rebound is a welcome signal that positions US fracking to enter the second half of 2019 with gusto.According to the preliminary estimate for June by the energy research and business intelligence company,  fracking in the US came in at 47 wells per day…

14 Apr 2019

Aus Upstream Capex Touches at US$10bln pa

Chart: Rystad Energy

The Australian renewable energy pipeline is surging above 100GW of solar, wind and utility storage projects. Investment is currently matching upstream capex, at US$10 bn per annum.Only 1GW is currently owned by Upstream companies – the majors, said Rystad Energy, the energy research and business intelligence company.By the end of the decade, upstream companies will be the dominant renewable developers in country and regionally. The driver will be economics as much as an increasing…

21 Apr 2019

LNG Prices Nosedive

Graph: Rystad Energy

A mild winter and growing surplus of supply have knocked the legs out from under Asian LNG, with spot prices plummeting more than 60% since last September, Rystad Energy, energy research and business intelligence company.Similarly, British front month prices (NBP) have dropped from $9.90 per MMBtu in September 2018 to $4.40 per MMBtu during the first week of April.Current low prices at importing markets offer producers in the main exporting countries – Australia, Qatar and the…

24 Apr 2019

Seagull Maritime Acquires Tero Marine

Photo courtesy of Seagull Maritime

Seagull Maritime announced that they have acquired a majority of the shares in Tero Marine. Tero Marine, headquartered in Bergen, Norway, has developed fleet management software for the shipping industry for more than three decades. The company’s flagship, TM Master, is recognized as one of the leading brands in the business. Today, TM Master is a crucial tool for shipowners all over the world, not only as an instrument for planned maintenance (and asset management), but also as a business intelligence resource.Tero Marine is growing fast and has currently more than 55 employees…

30 Apr 2019

65,000 Wells will be Drilled in 2019

Graph: Rystad Energy

Rystad Energy forecasts that the number of onshore and offshore oil and gas wells drilled globally will increase to around 65,000 in 2019.Activity levels are then projected to remain around this level through 2023, the energy research and business intelligence company said.Rystad Energy also forecasts that more than 1 million kilometers of new oil and gas wells will be drilled over the next five years. The collective depth of these wells is the equivalent of 25 times around the…

04 Apr 2019

Rystad Expects Oil Price Rally in H1 of 2020

Graph: Rystad Energy

The energy research and business intelligence company Rystad Energy expects that a short-lived price rally through the first half of 2020 as oil prices approach $70 a barrel.It will then lose momentum and be replaced by a need for additional production cuts by Russia and the cartel of oil producing countries, OPEC, the Norway-headquartered firm said.“We retain our bullish stance for the second half of 2019 and first half of 2020 as we anticipate OPEC+ to extend production cuts through 2019…

23 Apr 2019

GasLog, GasLog Partners Name COO Designate

Paolo Enoizi. Photo: Stolt-Nielsen

GasLog and GasLog Partners announced that Paolo Enoizi has been appointed as Chief Operating Officer (COO) Designate of GasLog and GasLog Partners.Paolo, who will be based in Piraeus, Greece, will take up his role in August 2019 and initially work alongside current COO Richard Sadler to ensure a smooth transition of responsibilities.On joining GasLog in August 2017 and in addition to his day-to-day responsibilities, Richard indicated his desire to work with the rest of the senior leadership team to identify a long-term successor for the COO role.

08 Apr 2019

IMO 2020 Impact on Fuel Bunker

Graph: Rystad Energy

When new International Maritime Organization’s (IMO’s) bunker fuel regulations come into effect on January 1, 2020, there remains uncertainty regarding the availability and pricing for all marine fuel, as owners grapple with technical solutions for compliance.The sulfur content limits in bunker fuels used outside the designated Emission Control Areas (ECAs) will be reduced to 0.5% (from 3.5%) to reduce air emissions from shipping.High sulfur fuel oil (HSFO) currently represents nearly 80% (approx.

25 Apr 2019

Gas Production Set to Triple in Iraq

Graph: Rystad Energy

Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy."For the world’s fourth largest crude producer, natural gas is about to take pole position," said a statement from the energy research and business intelligence company.New developments are on track to triple the country’s gas production from just over 1 Bcfd in 2017 to about 3 Bcfd in 2022, according to Rystad Energy.It forecasts that gas developments in Iraq will overtake oil projects in 2019…

27 Mar 2019

Containershipping: Restoring Balance

© Ralf Gosch/Adobe Stock

The repositioning of empty containers costs the liner industry an estimated $15-20billion every year according to Boston Consulting Group (BCG), as containers sit idle at a depot or are repositioned to a different loading point while empty. This is time spent not earning revenue, whil incurring additional costs, and is estimated by BCG to account for 5-8% of total operating costs for an average container liner. These expenses can include inland repositioning by rail or road onto a different port or terminal…

Maritime Reporter Magazine Cover Dec 2019 - Great Ships of 2019

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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