Continental News

01 Apr 2020

Siem Offshore Gets Breathing Room

Siem Symphony PSV - Credit: Harry Asbo - MarineTraffic

Norway-based offshore vessel owner Siem Offshore has received some breathing room after reaching an agreement with its banks.The company last week warned that the extreme fluctuations in the financial markets over the past weeks „have resulted in a further deterioration in the company's liquidity situation“ and that Siem Offshore was in discussions with its banks to seek to alleviate the situation.In a statement on Wednesday morning, Siem Offshore said that it had "with effect…

31 Mar 2020

Contracted Rates to Fall Long-term Due to Conoravirus -Xeneta

Patrik Berglund (Photo: Xeneta)

The container shipping segment appears to have caught coronavirus, with the industry suffering its first monthly fall in long-term contracted ocean freight rates since October 2019. According to the latest XSI Public Indices report from Xeneta, March 2020 saw a small dip of 0.5% in rates after a sustained period of growth. Although these symptoms look mild, the future is characterized by growing uncertainty, with widespread economic disruption and looming global recession likely…

23 Mar 2020

Ocean Infinity’s Hunt for the Submarine San Juan

The San Juan, before she was lost. Source: Ocean Infinity

The search for the Argentinian submarine was like hunting for the proverbial needle in a hay stack, except that it was a piece of straw. Elaine Maslin reports. At 7.19am, local time, on November 15, 2017, the last message was received from the San Juan submarine. She belonged to the Argentinian navy and was on a routine mission from Ushuaia in the Patagonia region to Mar del Plata in Buenos Aires province when she lost contact with the military. Fifteen days later, neither the submarine nor any debris had been found and the crew of 44 sailors were presumed dead.

17 Mar 2020

COVID-19 and Supply Chain Implications for Ocean Shipping

© hanohiki / Adobe Stock

Only 10 days ago, reports indicated that China cargoes were returning to pre-coronavirus levels, and there appeared to be light at the end of the tunnel. Today, however, a barrage of new headlines has underscored the impact on the rapidly changing global supply chain, including in the United States. In addition to the aggressive spread of the novel coronavirus (COVID-19), new economic developments indicate a decreased trend in global manufacturing. Changes in local economies negatively impacting employees reflect corresponding changes in consumer buying patterns.

04 Mar 2020

Shipping Goods into Nigeria Costs More Than for African Peers

© donvictori0 / Adobe Stock

It costs as much as five times more to ship goods into Nigeria than it does to deliver items via other African ports, consultancy SBM Intelligence said in a note on Wednesday.SBM tracked shipments from the European Union into Appapa, a key import hub in Nigeria's commercial capital of Lagos, Durban in South Africa and Tema in Ghana over three months.The results showed that total costs to get items into Lagos are five times higher than in Durban and three times higher than in Tema.Local transport added the biggest amount, costing 10 times as much in Lagos compared with the other portsThe figure

19 Feb 2020

Measuring the Hostile Ocean Beneath Hurricanes

Fig.1: A Slocum glider from Teledyne Webb Research, en route to deployment. Credit: Rutgers University.

Unmanned Vehicles Collect Data for Improving Storm ForecastsThe influences of ocean conditions and currents on living environments are now more widely appreciated—from the Earth’s climate and severe weather conditions to fisheries and biodiversity. Sustained and widespread measurements are needed to provide essential clues for understanding the oceans, for effective monitoring of environmental changes, and for helping to clarify the long-term effects of global warming.To meet this challenge, ocean researchers have invented various types of unmanned observing platforms.

18 Feb 2020

Golar LNG Pact with BR Distribuidora

Image: Golar Power

Golar Power, which offers integrated liquefied natural gas (LNG) based downstream solutions, and Petrobras Distribuidora S.A. (BR Distribuidora) announce the formation of a Partnership for the development of an LNG distribution businesses in Brazil. According to a press release, the intention is to introduce LNG as an alternative to the fuels currently available to Brazil’s cargo and people transportation, industrial, thermoelectric generation, commercial and residential sectors.Both…

18 Feb 2020

DP World to Delist from Nasdaq Dubai

Image: DP World

DP World, one of the world’s largest port operators, is delisting from the Nasdaq Dubai and returning to fully private ownership.According to a press release, the  UAE-owned port behemoth’s parent company, Port and Free Zone World, has offered to buy the 19.55% of DP World’s shares traded on the Nasdaq Dubai for $16.75 a share, representing a 29% premium on its closing price of $13 per share on Sunday.DP World's parent company will pay Dubai World $5.15 billion to help the government-owned conglomerate with its outstanding commitments to banks.DP World remains financially strong…

12 Feb 2020

Titan Acquires HII's San Diego Shipyard

(U.S. Navy photo by Adam Ross)

One the United States' largest fleet service and ship repair sites is changing hands.Ship repair and commercial- and defense-related fabrication services provider Titan Acquisition Holdings announced on Wednesday it has reached a deal to acquire San Diego Shipyard from Huntington Ingalls Industries (HII). Financial terms were not disclosed. The transaction, expected to close in the second quarter, is subject to customary closing conditions.The San Diego Shipyard, formerly Continental Maritime of San Diego…

11 Feb 2020

USA Ups BOEM Offshore Wind Budget

Image: BOEM

The Trump Administration has proposed a $189m fiscal year 2021 budget for the Bureau of Ocean Energy Management (BOEM), designating just under $27m for offshore wind.The FY 2021 budget includes approximately $26.5 million to advance offshore renewable energy development.In recognition of the role renewable energy can play in securing the Nation’s energy independence and supporting economic growth, BOEM continues to advance renewable energy through its leasing program and streamlining its permitting and National Environmental Policy Act (NEPA) processes.In addition…

10 Feb 2020

UKCS Mediation Pilot Launched

Image: Oil and Gas Authority

UK oil and gas industry regulator Oil and Gas Authority (OGA) has revealed that it has launched a year-long UK Continental Shelf (UKCS) “mediation pilot”.According to the OGA, the pilot aims to test the extent to which mediation can resolve certain disputes between oil and gas licensees, operators and infrastructure owners in the UKCS.The OGA has found that disputes have generally arisen due to entrenched licensee behaviors or communication breakdowns. They can be costly and time consuming for the companies involved…

04 Feb 2020

Vessel Safety: US House Subcommittee Seeks Faster Implementation

The diving boat Conception burns off the coast of Santa Cruz island on September 2, 2019. (Photo released by the Santa Barbara Sheriff's Office)

In November the U.S. House of Representatives’ Transportation & Infrastructure Committee, Coast Guard and Maritime Transportation Subcommittee held a hearing on “Commercial and Passenger Vessel Safety: Challenges and Opportunities.” Testimony covered a range of issues, from recent tragedies such as the Conception dive-boat disaster to antiquated maritime laws.Hearing witness list:Rear Admiral Richard V. Timme, Assistant Commandant for Prevention Policy, United States Coast GuardThe Honorable Richard Balzano…

03 Feb 2020

Russia Leads E&P Race in Arctic Region

Image: GlobalData

Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons and rare earth minerals.Warming temperatures in the Barents Sea and northern coastline of Russia are giving an added impetus to resource development in this region, according to GlobalData.GlobalData's report, ‘Arctic Exploitation’, discusses how Russia is keen on hydrocarbon appraisal and…

02 Feb 2020

PGNiG Acquires Duva Field in Norway

Image: PGNiG

PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the PL636 and PL636B licences in the North Sea.Following the transaction, PGNiG Upstream Norway’s (PUN) interests in both licences increased to 30%. As a result, the volume of Duva field gas production attributable to the Company will rise to 0.2 bcm per year.“Acquisition of fields on the Norwegian Continental Shelf is one of the investment priorities of the PGNiG Group.

29 Jan 2020

Driverless Trucks to Dominate UK Ferry Traffic

Image: British Ports Association

Driver-less heavy goods vehicles (HGVs) will be to ship freight between the UK and continental Europe in the future, according to a new white paper published by the British Ports Association (BPA) and the specialist freight transport consultancy MDS Transmodal.Commercial and environmental pressures will encourage freight operators to look at autonomous trucks and they would transform the way the ro-ro market works in Great Britain."Changes anticipated include significant growth…

27 Jan 2020

PGNiG: Polish LNG Import Jumps Up

Graph:  PGNiG

LNG imports to Poland via the Świnoujście LNG Terminal  keep rising and stood at 3.4 billion cubic metres in 2019 after regasification, up from 2.7 bcm the year before."The first quarter of 2020 will see peak activity in terms of LNG deliveries. By the end of March this year alone we are to receive ten cargoes coming in from different directions,” said Jerzy Kwieciński, President of the PGNIG S.A. Management Board.The long-term take-or-pay contract with Gazprom via the Yamal pipeline means Russia is still Poland’s dominant supplier.

23 Jan 2020

Offshore Wind: The Domino Effect

Matt Tremblay, SVP, Global Offshore, ABS

Matt Tremblay, SVP, Global Offshore, ABS, discusses the next hot growth market ... offshore wind. While the market grows, the question begs: Is the U.S. marine industry ready to meet demand?The American Bureau of Shipping convened a conference to discuss the pace and direction of the U.S. offshore wind market, including challenges and opportunities for maritime, offshore, subsea and logistics markets. Matt Tremblay, SVP, Global Offshore, ABS, moderated the event and shares some of its findings here.Where do you see opportunities today for growth in the U.S.

23 Jan 2020

Equinor, Eidesvik in Ammonia-Fueled PSV Pact

The Viking Energy vessel. (Photo: Eidesvik Offshore)

Norwegian oil company Equinor has signed a deal with vessel owner Eidesvik Offshore to test the use of carbon-free ammonia as a fuel aboard the Viking Energy platform supply vessel.Equinor has awarded Eidesvik Offshore a five-year contract with effect from April 2020, when the current contract for the vessel expires. The Viking Energy supply vessel will in the contract period be part of a research project developing, installing and testing long-distance sailing fuelled by carbon-free ammonia fuel cells.

07 Jan 2020

Norwegian PM Opens Johan Sverdrup Field

Image: Equinor

Norway's prime minister Erna Solberg has opened the Johan Sverdrup field center, and the Minister of Petroleum and Energy, Sylvi Listhaug, also attended the opening.Since Equinor and the Johan Sverdrup partners Lundin Norway, Petoro, Aker BP and Total started the field on 5 October last year, production has increased to a level well above 300,000 barrels per day.Johan Sverdrup is expected to yield a total production revenue exceeding NOK 1 400 billion and more than NOK 900 billion…

06 Jan 2020

Gazprom Neft Completes Okhotsk Survey

Image: Gazprom Neft

Russian oil and gas exploration company Gazprom Neft has completed ecological monitoring of grey whale populations at the Ayashsky license block, offshore from Sakhalin Island, with expedition members registering more than 550 animals in the course of a five-month survey.According to a press release, the ecological monitoring of grey whales in the Sea of Okhotsk forms part of a joint programme being implemented by oil and gas companies operating in Sakhalin. Gazprom Neft joined the programme in 2017…

31 Dec 2019

WindFloat Atlantic Platform Heads Offshore

Image: EDP

The second of the three platforms for the WindFloat Atlantic project has left the Port of Ferrol for its final destination 20 kilometers offshore Viana do Castelo, Portugal.Upon arrival to the project site, it will be installed next to the first floating platform, which has the exact same dimensions: 30 meters in height and with a 50-meter distance between each column. The third and final platform, once it arrives to the site, will complete the first floating offshore wind farm in Continental Europe.Transportation of the three WindFloat Atlantic floating structures is a milestone in itself…

26 Dec 2019

Five Common Mistakes in Maritime Contracts

Copyright: byemo/AdobeStock

“An ounce of prevention is worth a pound of cure.” – Henry de Bracton, DeLegibus, ~1240Often clients or prospective clients come to me with a commercial contract issue perched on the precipice of full-blown litigation or arbitration. When I ask to see the contract, often times I see errors in drafting that either (1) give rise to the problem before me or (2) could create a bigger problem for the client in the future.The risk of drafting error is higher for Europeans looking to contract with American companies.

23 Dec 2019

Hawaii Congressman Introduces Anti Jones Act Legislation

© CrackerClips / Adobe Stock

Hawaii Congressman Ed Case has introduced three bills in Congress to reform Merchant Marine Act of 1920 (commonly referred to as the Jones Act), which he states “artificially inflates the cost of shipping goods to Hawaii”.Case’s three measures and their proposed amendments to the Jones Act are:the Noncontiguous Shipping Relief Act, which exempts all noncontiguous U.S. locations, including Hawaii, from the Jones Act;the Noncontiguous Shipping Reasonable Rate Act, which benchmarks…

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