David Evans News

20 Jan 2020

IMO's 2050 Decarbonization Target Has $1 Trillion Pricetag

© Martin Lueke / Adobe Stock

At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed.The global shipping fleet, which accounts for 2.2% of the world's CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.U.N. shipping agency, the International Maritime Organization (IMO), aims to reduce the industry's greenhouse gas emissions by 50% from 2008 levels by 2050…

17 Jan 2020

World Seaborne Coal Trade Rose 0.7% in 2019

©  jeayesy / Adobe Stock

Seaborne coal trade around the world grew 0.7% last year, helped by higher output in China and Indonesia and more export activity by Indonesia, Australia, Russia and Canada, Germany's VDKI coal importers lobby said on Friday.Imports and exports, counted together, rose to 1.218 billion tonnes from 1.210 billion tonnes in 2018, VDKI Managing Director Franz-Josef Wodopia said in an speech made available to Reuters, citing VDKI estimates.Within the 2019 total, trade in coking coal used for steelmaking dropped by 1% to 287 million tonnes as steel production declined, the Verein der Kohlenimporteure

03 Jan 2020

Egypt Shuts Two Med Ports Due to Bad Weather

© remipiotrowski / Adobe Stock

Egypt on Friday closed the harbors of two of its Mediterranean ports, Alexandria and Dekheila, due to bad weather, the Alexandria Port Authority said.The harbors were shut due to high waves and wind speeds, preventing ships from entering or leaving the ports, though loading and unloading within the ports was continuing normally, the authority said in a statement. (Reporting by Ahmed Salem in Alexandria Writing by Aidan Lewis; editing by David Evans)

19 Dec 2019

Volkswagen Attracts Bids for MAN Energy Solutions Unit

Volkswagen has attracted bids from Europe's Innio, Japan's Mitsubishi Heavy and U.S.-based Cummins for its MAN Energy Solutions, which makes diesel engines for ships and power generators, people close to the matter said.Innio, formerly known as Jenbacher and owned by buyout group Advent, as well as the two other bidders last week made bids for the VW unit, which could have a valuation of 1.5-2 billion euros ($1.7-$2.2 billion) in a potential sale, they said.Other bidders such as Hyundai Heavy are no longer in the running, they added.The divestment is part of Volkswagen's efforts to slim down and simplify the group which has 12 brands…

26 Nov 2019

Europe's Wind Industry Needs More Sea Space

© Phil Bird / Adobe Stock

The European offshore wind industry needs an area equivalent to the size of Ireland to install enough turbines to reach carbon neutrality by 2050, a target for most EU members, a leading industry group said in a report.Fighting climate change is a top priority for the European Commission's new head Ursula von der Leyen, who has set out a "European Green Deal" intended to achieve "climate neutrality" - adding no greenhouse gases to the atmosphere beyond what can be absorbed - by 2050."Today we have 20 gigawatts (GW) of offshore wind in Europe and the European Commission…

22 Oct 2019

DP World Reports Lower Quarterly Global Cargo Volumes

© jamesboy / Adobe Stock

Port operator DP World reported on Tuesday a third quarter decline in cargo handled across its global portfolio as volumes fell in Dubai for a sixth consecutive quarter.The operator said it handled 18 million twenty foot equivalent unit (TEU) containers in its ports in the three months to Sept. 30, down 1.6% on the same period a year ago.It said a global trade row created a challenging environment. The United States and China have been locked in a trade row that has cast a shadow over global economic prospects.At its flagship Jebel Ali port in Dubai…

22 Oct 2019

Tankers Unable to Offload in Malaysian Port

© Igor Groshev / Adobe Stock

Refineries at Port Dickson on Peninsular Malaysia's west coast are unable to receive crude oil after a port facility that carries crude from the ships to the plants broke down.A system known as a single point mooring (SPM) unit, a loading buoy anchored offshore that allows tankers to offload their crude via pipeline to the refineries, has been out of service, the refinery operators said.The SPM connects to a refinery operated by Hengyuan Refining Company Bhd (HRC), a subsidiary of China's Shandong Hengyuan Petrochemical Co…

21 Oct 2019

Maersk Lifts 2019 Profit Forecast; Shares Rise

Photo: Maersk

Danish shipping company A.P.

18 Oct 2019

Canadian E.Coast LNG Export Plans Progress Shell Deal

Pieridae Energy moved closer to building a liquefied natural gas (LNG) export terminal on Canada's East Coast after taking ownership of fields from Royal Dutch Shell which will feed gas into the plant, the company said.The Goldboro LNG terminal would be the first on Canada's East Coast and compete with the growing number of plants on the U.S. Gulf Coast, hoping its shorter distance to Europe and further west will help sell its LNG by cutting shipping costs.Pieridae said in a statement late on Thursday it had closed a C$190 million ($145 million) acquisition of Shell's gas assets in Alberta's Foothills region, giving it most of the gas…

02 Oct 2019

Gazprom Neft Ships 11 mln T of Arctic oil via NSR

© Igor Groshev / Adobe Stock

Russia's Gazprom Neft is currently shipping around 11 million tonnes of oil per year (220,000 barrels per day) using the Northern Sea Route (NSR) and plans to increase this number, Chief Executive Alexander Dyukov told Rossiya-24 TV channel.He said that in total, Gazprom Neft is producing 18 million tonnes of oil per year in the Russia's Arctic area.

23 Sep 2019

British Tanker Stena Impero Free to Leave - Iran ambassador

©Erwin Willemse/ MarineTraffic.com

The detained British-flagged tanker Stena Impero is "free to leave," Iran's ambassador to the United Kingdom, Hamid Baeidinejad, said on Twitter on Monday."The British-flagged tanker 'Stena Impero', pursuant to the completion of the judicial and legal process, is now free to leave," he wrote.The seizure on July 19 of the ship, two weeks after Britain detained an Iranian tanker off Gibraltar, ratcheted up tensions in the region in the wake of attacks on other merchant vessels that Washington blamed on Tehran.Iran denied responsibility for those attacks…

23 Sep 2019

Shipping Sector Sets Course for Zero Carbon

© Yaniv / Adobe Stock

Leading ports, banks, oil and shipping companies on Monday launched an initiative which aims to have ships and marine fuels with zero carbon emissions on the high seas by 2030, in another step by the maritime sector to reduce CO2.International shipping accounts for 2.2% of global carbon dioxide (CO2) emissions and the U.N.'s International Maritime Organization (IMO), has a long-term goal to cut greenhouse gas emissions by 50% from 2008 levels by 2050.Achieving this target will…

19 Sep 2019

Vessel Traffic Halted on Beaumont Ship Channel

Ship pilots stopped moving vessels along the Beaumont, Texas, Ship Channel due to severe weather caused by Tropical Storm Imelda, said the U.S. Coast Guard on Thursday.Imelda, officially downgraded to a tropical depression, dumped 24 inches (61 CM) of rain on east Texas is the past 24 hours, closing Exxon Mobil Corp's Beaumont refinery and chemical plant. (Reporting by Erwin Seba; editing by David Evans)

18 Sep 2019

Magellan Begins Refined Products Transportation on Hearne Pipeline

Photo: Magellan Midstream

Magellan Midstream Partners LP said on Wednesday it had commenced operation of a new 135-mile, 20-inch diameter refined products pipeline from its East Houston terminal to Hearne, Texas.The company also said construction of a pipeline spur from the new system to the George Bush Intercontinental Airport was also complete and would be in operation by Nov. 1, once testing is finalized.Completion of the East Houston to Hearne pipeline has also reversed an existing pipeline segment between Hearne and Dallas…

11 Sep 2019

Iran says Tanker Oil Sold at Sea, Buyer Sets Destination

©MarineTraffic.com

Iran's envoy to London said on Wednesday the oil cargo of tanker Adrian Darya 1 was sold at sea to a private company, denying Tehran had broken assurances it had given over the vessel, but he insisted EU's Syria sanctions did not apply to Tehran."At (the) meeting with the British Foreign Secretary, it was emphasised that British authorities' action against the tanker carrying Iranian oil was in violation of international law," ambassador Hamid Baeidinejad said on Twitter after being summoned in London."EU sanctions cannot be extended to third countries.

12 Jul 2019

U.S. Oil Makes it to Ukraine, a blow to Moscow

© RealPhotoItaly/Adobe Stock

U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil.Ukraine this month received its first ever barrels from the United States, according to Refinitiv Eikon flows data, as the tanker Wisdom Venture unloaded 80,000 tonnes of Bakken crude in Odessa on July 6 for the Kremenchug refinery,…

19 Jun 2019

Russia's Novatek Ships First LNG Cargo to Spain from Vysotsk

Russia's largest non-state gas producer Novatek has delivered a first liquefied natural gas (LNG) cargo to Spain from its Vysotsk plant, according to Refinitiv Eikon data.Novatek, Russia's top LNG producer, officially launched the Vysotsk plant on the Baltic Sea in April.According to the data, Novatek shipped a cargo of 9,500 cubic metres (6,000 tonnes) to the port of El Ferrol in Spain on June 15.The first line of Vysotsk plant has a capacity of 660,000 tonnes of frozen gas per year. Novatek has plans of expanding it by over 1.1 million tonnes annually with a second train.Refinitiv Eikon shipping data also showed the plant has shipped around 27 cargoes of LNG with total volumes of 250,000 cubic metres (around 160,000 tonnes) to Lithuania, Finland, Sweden and the Netherlands.

14 Jun 2019

COFCO in Talks to Buy Stake in Russian Port Grain Terminal

© Budimir Jevtic / Adobe Stock

Top Chinese grain trader COFCO is in talks about buying a shareholding in a grain export terminal in the Russian port of Novorossiysk as part of its expansion in Europe, sources said on Friday.COFCO is understood to be in talks about buying a shareholding of about 25% in the KSK deep water grain terminal in Novorossiysk, three sources said.Talks are being held with the terminal owner, Russian company Deloports Ltd. Deloports declined comment.The COFCO group in China was unavailable for immediate comment.

26 Mar 2019

UK P&I Club Gets Regulator Clearance for Dutch Brexit Hub

British ship insurer UK P&I Club has received approval from the Dutch regulator for a new subsidiary in Rotterdam to ensure continued access to trade in the European Union in case Britain loses single market access, it said on Tuesday.UK Club is the second specialist Protection and Indemnity (P&I) club to announce regulatory approval for Brexit trading arrangements in the EU. Rival club North said in January it got the green light for its Dublin subsidiary from Ireland's central bank.P&I clubs - mutually owned by their members which are shipping companies - have been an integral part of the City of London for nearly two centuries, insuring ocean going ships against pollution and injury claims…

12 Feb 2019

CMA CGM Aims for Ceva Logistics Breakeven in 2019

Photo: Ceva Logistics

CMA CGM is aiming for Ceva Logistics to break even this year, its finance chief said on Tuesday, as the French shipping group opened a share offer to cement its control of the Swiss freight specialist.CMA CGM's public tender will offer other shareholders 30 Swiss francs ($29.75) per share, valuing Ceva at 1.67 billion francs, a price agreed after Ceva rejected a takeover bid in October from Danish freight firm DSV.Marseille-based CMA CGM, one of the world's largest container shipping lines, became Ceva's core shareholder when the Swiss company floated on the Zurich stock market last year, as p

17 Jan 2019

EU Takes Aim at Turkish Steel Sector Buckling Under Trump Tariffs

The European Commission's move to extend its steel import restrictions threatens to force Turkish mills, already buckling under the weight of U.S. tariffs, to cut production further or in some cases close down, sources said.The Commission said on Wednesday it will extend and beef up its existing "safeguard" steel import caps until July 2021 to counter concerns that European Union markets are being flooded with steel no longer being exported to the United States.For Turkey's vast steel sector, the fourth largest contributor to the country's economy, the caps could prove particularly painful as the EU has given it additional "country-specific" quotas.Under the safeguards…

17 Jan 2019

Egyptian Ports Reopen After Sandstorm Clears

© Eugene Sergeev / Adobe Stock

Egypt reopened five ports on Thursday that it had shut due to bad weather as conditions improved and winds stabilized, the Red Sea Ports Authority said.Several Egyptian port cities and the capital Cairo were hit by a severe sandstorm on Wednesday, which prompted the closure of several ports.The ports of Alexandria and Dekheila on the Mediterranean in the Alexandria governorate, which had been shut since Sunday, reopened at 1330 local (1130 GMT), Reda Ghandour, a spokesman for the Alexandria Port Authority, said.He said the decision to reopen the ports was made after wind speed, wave height and

08 Nov 2018

Norwegian Oil, Gas Plants Restart after Ship Collision

Sture Terminal (Photo: Equinor)

An oil tanker and a Norwegian navy frigate collided off Norway's west coast on Thursday, injuring eight people and triggering the temporary shutdown of a North Sea crude export terminal, Norway's top gas processing plant and several offshore fields.The frigate, which recently took part in a major NATO military exercise, was aground and tilting on one side, live television pictures showed. The Norwegian military was attempting to save the ship."We are working on stabilizing the vessel…

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News