Nakilat, Höegh LNG Ink MoU on FSRU project
Nakilat signed a Memorandum of Understanding (MoU) with Höegh LNG, exploring collaboration for Floating Storage and Regasification Unit (FSRU) business as part of its diversification strategy for opportunities and solutions to delivering LNG to the global markets, with FSRU being a leading-edge technology for the liquefied natural gas (LNG) market. Essentially a floating LNG import terminal, this technology has become a strategic solution for countries without LNG receiving terminal infrastructure, enabling better accessibility of clean energy.
Rolls-Royce Inks Service Deal with Siem Offshore, Subsea 7
Siem Offshore and Subsea 7 have signed a joint three-year service agreement with Rolls-Royce. The agreement covers a total of 74 offshore vessels. This is the first agreement the two Siem owned companies have signed with the same service provider. Under the agreement, Rolls-Royce will maintain and service all of the equipment it has delivered to the two companies’ offshore vessels. At present, aftermarket services account for roughly 40 percent of Rolls-Royce Marine’s revenues. Long-term agreements account for around a quarter of this.
Vroon W2W Vessel Upgraded ahead of First Charter
VOS Start, Vroon BV’s first DP2, subsea-support, walk-to-work (W2W) vessel has departed Damen Shiprepair Oranjewerf following the installation of a first of its kind motion-compensated gangway system by Barge Master and Bosch Rexroth, the extended installation of a Kongsberg reference system (including a ‘windfarm module’), and an active heave-compensated crane from SMST. The 80m VOS Start arrived at Oranjewerf on June 1 from her build yard in China, staying for eight weeks in the yard to also undergo various other upgrades and preparations for her first project…
Keppel, Sembcorp Merger on the Cards ?
A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards, report local media quoting the Development Bank of Singapore (DBS). DBS said that with orders at a trough and expectations for only a modest recovery, a merger of Singapore's two major rigbuilders could create a global giant that is more competitive and resilient. “A merger could make sense to further streamline their operations, achieve cost synergies and eliminate competition in the medium term,” DBS said.
Helix Energy Cuts Q2 Loss
Oil service company Helix Energy Solutions has narrowed its loss in the second quarter of 2017 backed by increased activity of its well intervention business. Mainly North Sea operations helped narrow the firm’s losses. The group, which controls Aberdeen based Helix Well Ops and Canyon Offshore, reported a net loss of $22.9million for the first six months of the year, compared to $38.5million in the same period last year. It reported a net loss of $6.4 million for the second quarter of 2017 compared to a net loss of $10.7 million for the same period in 2016.
Höegh LNG Secures Financing for FSRU Unit
Höegh LNG Holdings has announced that it has received commitment letters for a US$230 million debt financing for its eighth floating storage and regasification unit (FSRU). The Facility comprises a 12 year export credit agency (ECA) term loan of up to USD 150 million backed by Garantiinstituttet for Eksportkreditt (GIEK) and Eksportkreditt of Norway, and a 5 year non-amortising commercial bank loan of up to USD 80 million funded by ABN AMRO Bank, Danske Bank, Nordea and Swedbank.
Six Countries Vie for US$2 Bln Philippines LNG Hub
State-run Philippine National Oil Company (PNOC) has shortlisted six countries and will choose one from them as a partner for its planned US$2 billion receiving and distribution facility for imported LNG, Reuters reported. The company has received six proposals from China, Indonesia, Japan, Singapore, South Korea and the United Arab Emirates (UAE) to co-build the LNG hub, PNOC’s head of LNG team and technical adviser Arwin Ardon quoted as saying. He said all proposals include storage, liquefaction, regassification, a power plant, and distribution facility as part of the LNG terminal.
Songa Offshore Wins in DSME Arbitrations
Songa Offshore had submitted its defence to the claims asserted by Daewoo Shipbuilding & Marine Engineering (DSME) in arbitrations related to the Songa Equinox, the first Cat D rig, and the Songa Endurance, the second Cat D rig, in which DSME asserted aggregate claims of USD 329 million, along with a request for repayment of liquidated damages in a total amount of USD 43.8 million, totalling to USD 372.8 million. The claims asserted related to alleged cost overruns and additional…
Mermaid Maritime Wins Subsea Charters
Thailand-based Mermaid Maritime, a subsea and offshore drilling services company, has been awarded two subsea contracts with a combined estimated value of $4.6 million. The company press release said that the first contract award will involve a short ROV campaign for pipeline touchdown monitoring for an international EPCIC contractor offshore in the Middle East GCC. The second contract award, with work scheduled to commence in the fourth quarter of 2017, will involve use of a diving vessel with work class ROV carrying-out a subsea services project offshore East Kalimantan…
Standard Club Establishes New Offshore Advisory Committee
The Standard Club is driving developments in offshore P&I with the launch of the Standard Club Offshore Advisory Committee (SCOAC). SCOAC aims to analyse offshore trends, assist the club in further understanding and disseminating industry best-practice and develop new strategies to provide a focused direction for the benefit of the club’s offshore membership. The committee consists of leading offshore players including Allseas Group, Bumi Armada, Floatel International, Nortrans Offshore, Saipem, SBM Offshore and Subsea 7 – all members of The Standard Club.
Global LNG Deals Set Bullish Tone as Peru Export Halt Tightens Market
Asian spot LNG prices stepped higher this week, shrugging off months of weakness, as Royal Dutch Shell replaced lost output from its Peru plant via spot markets and as a flurry of higher-priced deals surprised traders. Peru's liquefaction plant suspended loadings for several weeks without explanation, exerting strain on Shell, which is the sole exporter of Peruvian LNG and was forced to pick up replacement supply on spot markets. "Shell doesn't want to be exposed so they've been covering their positions…
Activists Protest near Oil Rig in Norway's Arctic Sea Area
Environmental activists protested on Friday near an offshore rig contracted by Statoil in the remote Norwegian Arctic, where the firm is looking for oil and gas deposits. The Nordic country wants to open up northern areas for exploration to offset declining production in the south. Oil and gas production is Norway's leading industry, accounting for 20 percent of its economy. From the Greenpeace Arctic Sunrise ship, 11 campaigners launched inflatable boats carrying banners opposing Statoil's Songa Enabler oil rig, 275 km (170 miles) north of the Norwegian coast, in the Arctic Barents sea. One of the banners read "“The People Vs. Arctic Oil”.
Baltic Index Win Streak at 9 Straight Days
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday for the ninth straight session, on higher rates for capesize and smaller vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.35 percent, at 977 points, touching its highest in more than two months. The capesize index climbed 61 points, or 5.58 percent, to 1,154 points. Capesize dry bulker earnings are finishing the week on a firm note with assessments lifting up to about $9…
VLCC Outlook Brightens Slightly
Rate correction likely after low S-Oil charter drags market. Freight rates for very large crude carriers (VLCCs) could see a small respite next week, building on the slight improvement seen in the last two days although sentiment is likely to remain pessimistic of any real recovery, brokers said on Friday. "There was a large drop on Tuesday when South Korea's S-Oil fixed at 45.50 (on the Worldscale measure). But rates are now correcting," a Singapore-based supertanker broker said.
Schlumberger to Acquire Majority Stake in Eurasia Drilling
Russia's Eurasia Drilling Company (EDC) said on Thursday it would sell a 51 percent stake in the company to the oilfield services provider, U.S.-based Schlumberger NV. The agreement is subject to approval by the Federal Antimonopoly Service of Russia (FAS), the company said. Financial terms of the deal were not disclosed since it is subject to approval. The agreement, if approved, would extend a strategic alliance with Schlumberger that dates to 2011, Eurasia added. EDC is an onshore and offshore drilling and well services contractor.
Seacroft Hires Pearce as Engineering & DP Manager
Aberdeen-based Seacroft Marine Consultants said it has appointed Richard Pearce as Marine Engineering and Dynamic Positioning (DP) Manager, as the firm looks to develop more specialized offshore marine projects. Pearce brings to the role 16 years’ experience in engineering and technical disciplines of the marine and offshore industry, including spells at some of the sector’s most prominent names. Most recently he was technical manager at Fletcher Group and service delivery manager…
Wartsila Order Intake Beats Forecast as Marine Market Revives
Finnish ship technology and power plant maker Wartsila reported on Thursday a bigger-than-expected rise in quarterly order intake, saying the market demand had improved for its marine solution business. * Bookings of new orders in the second quarter increased 14 percent from a year earlier to 1.36 billion euros ($1.57 billion), beating analysts' average expectation of 1.22 billion in a Reuters poll. * Adjusted operating profit rose 3 percent from a year ago to 126 million euros, roughly in line with the market consensus.
PetroChina Unloads First US SPR Cargo
PetroChina is this week unloading the first Chinese purchase of crude oil from U.S. strategic petroleum reserves at a port in eastern China, according to shipping data and two industry sources. The move comes as China, the world's No.2 oil consumer, steps up imports from the Americas to diversify supply sources. PetroChina unit, PetroChina International America Inc, bought the 550,000-barrel cargo of Bryan Mound sour crude in a sale from U.S. strategic petroleum reserves in March for $28.8 million. Supertanker Cosrising Lake <C}KV7309834335>, chartered by PetroChina, is unloading the U.S.
Keppel Posts Lower Q2 Profit, Warns on Rig Outlook
Q2 profit S$161 million versus S$205 million year ago; O&M division net order book at S$3.4 billion. Singaporean conglomerate Keppel Corp posted a 21 percent drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market. The conglomerate and its smaller cross-town rival Sembcorp Marine have been hit by an oversupply of offshore oil drilling rigs, with customers delaying contracts and refraining from placing new orders with oil prices expected to stay lower for longer. "Despite some pick-up in activity in the offshore market, the general consensus is that, with the prevailing uncertainty in the oil market, and oversupply in the jackup market, a quick recovery is unlikely," said CEO Loh Chin Hua.
Russian Think Tank: Oil Exports to Decline in 2017
A think tank that advises the Russian government on taxes and energy-related issues said on Wednesday it expects the country's oil exports to fall this year thanks to a global deal to cut output, contrasting with official forecasts for a rise. Vygon Consulting said in a presentation to reporters that oil exports this year are seen declining by 0.7 percent to 252.5 million tonnes (5.1 million barrels per day) from around 255 million tonnes in 2016, a record high. The Energy Ministry forecasts Russian crude oil exports this year at 257 million tonnes.
Qatar Seeks to Open New LNG Markets with Floating Terminals
Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar to sell its liquefied natural gas (LNG) via floating import terminals. Hoegh LNG, a developer of floating LNG import terminals, expects to start work on the import terminal project in a matter of months, CEO Sveinung Stohle told Reuters. Stohle said Hoegh LNG and Qatar Gas Transport Company, which operates a large fleet of LNG tankers, are evaluating countries in which they could establish a floating terminal, naming South America and south-east Asia as attractive prospects. Top LNG producer Qatar, which is in the midst of a diplomatic crisis that erupted when Saudi Arabia and other Arab states cut diplomatic and transport links with Doha in early June…
Dynamic Positioning for Inland Vessels
RH Marine recently installed the Rhodium 4500 dynamic positioning (DP) and tracking system on Hakkers’ new flagship, Noordzee, an inland multipurpose vessel that can be used for lifting, dredging or pile driving. Hakkers is a specialist in the development, production and realization of excavation, dredging, construction, foundation, coastal and shoreline works. Its new vessel Noordzee required a system that could automatically hold position and maintain track with high accuracy on low speed.
Baltic Index Advances on Firm Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday on stronger rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 20 points, or 2.19 percent, at 932 points. The capesize index gained 51 points, or 5.47 percent, to 984 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $391 at $8,171.
Lundin Extends Contract for Ocean Rig
Ocean Rig UDW, contractor of offshore deepwater drilling services, has announced that Lundin Norway AS, has declared their third option to extend the existing contract of the Leiv Eiriksson. In addition, Ocean Rig has granted Lundin 2 additional options to drill further wells in the future. As a result of these developments, the rig now has firm employment until at least the end of September of 2017 and should Lundin exercise its additional seven one-well options, currently un-declared, the rig could be employed until the first quarter of 2019.
Total: Congo Crude Exports Unaffected by Port Strike
French oil and gas company Total said on Monday that crude exports from its Djeno terminal in Congo Republic was ongoing and unaffected following a strike last week and the sinking of a loading buoy in an unrelated accident. Traders said on Friday that the company had declared a force majeure on exports of Djeno crude following the incident. A spokeswoman for Total said: "exports from Djeno remain unaffected and safely continue with the second available loading buoy," adding that the tanker that was loading at the time of the buoy incident was safely disconnected. She added that the strike at the terminal ended on Friday, while an investigation into the buoy accident was ongoing. (Reporting by Bate Felix, Julia Payne and Edward McAllister; Editing by Michel Rose)
Smaller Tonnage Buoys Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, tracking gains across panamax and smaller vessel segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1.33 percent, at 912 points. The capesize index was flat at 933 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $62 to $7,780. The panamax index was up 29 points, or 2.47 percent, at 1,202 points.
GE, Maersk Drilling Accelerate Digital Partnership
The 'digital revolution' continues in earnest in the maritime and offshore energy sectors, driven by new pilot programs with positive results such as GE (NYSE: GE) and Maersk Drilling, which announced this morning an extension of the scope of their digital partnership following the positive results of a pilot probem, with the bottom line focus of enhancing drilling productivity. During the extended partnership, Maersk Drilling and GE will expand the scope of the 2016 pilot project—one vessel…
Qatar to Maintain Dominance in Global LNG Market
Qatar will maintain its dominance over the global liquefied natural gas market despite increased supply from Australia and the United States, the weekly report by Qatar National Bank (QNB) said. A report in The Penisula quoting QNB said that Qatar currently accounts for 30.1 percent of the global market. The country captured nearly 70 percent of the new African demand, more than compensating for the lower cargoes to Japan. Amidst these market shifts, Qatar maintained its position as the world's largest and most cost-efficient producer…
Egypt to Establish USD 4bln Petrochemical Complex in Suez
Egyptian Ministry of Petroleum entered in a partnership with the Ministry of Public Business Sector to establish a petrochemical plant in Suez governorate at a total cost exceeds $4 billion, Zawya reported quoting Petroleum Minister Tarek el-Molla. The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, el-Molla added. The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.
US to be World's Biggest LNG Exporter by 2022
The International Energy Agency predicted that the US will become the world's No. 2 exporter of liquefied natural gas by the end of 2022 with a capacity of 3.7 trillion cubic feet per year, second only to Australia. The U.S. is already the world's largest producer of natural gas. The agency says more than half of the natural gas produced in the US will be converted to LNG for export. A Reuters report said that global LNG export capacity would reach 650 billion cubic meters (bcm) a year by the end of 2022, compared to less than 452 bcm a year in 2016.
Asia Tankers-VLCC Rates Under Pressure on Oversupply
Charterers set to split VLCC cargoes if owners push rates higher. Freight rates for very large crude carriers (VLCCs) are coming under pressure from a build up in ships waiting for new charters and depressed rates in smaller tanker sizes, brokers said on Friday. "At the slightest attempt by owners to push rates higher, charterers can split the cargo into Suezmax cargoes for the same rate," an European supertanker broker said on Friday. A VLCC can carry around 2 million barrels of oil while a Suezmax tanker can transport about 1 million barrels.
LNG Prices Low on Oversupply
The Asian market for liquefied natural gas (LNG) remained subdued this week, weighed down by oversupply concerns and as the northern hemisphere exits its high demand summer season. Spot prices for Asian LNG <LNG-AS> were at $5.40 per million British thermal units (mmBtu), down 5 cents from a week ago. That's more than 70 percent below the $20.50 per mmBtu peak from February 2014. "Summer demand had been strong at this level (of mid$5/mmBtu). It's approaching shoulder months so prices are correcting," a Singapore-based LNG trader said. LNG deamnd weakens seasonlly during the shoulder season between the northern hemisphere's summer and winter. However, LNG markets are also generally oversupplied, largely because of soaring output from Australia and the United States.
Höegh LNG, RMU Sign MoU on LNG Capacity Building
The Regional Maritime University in Ghana (RMU) has signed a Memorandum of Understanding (MOU) with Höegh LNG, a major player in the LNG segment of the maritime industry, for the support and maritime capacity development for both RMU and Ghanaian seafarers. Quantum Power Ghana is also party to the MoU, which was signed 16 June 2017. Höegh LNG is one of the world's leading providers of floating liquid natural gas (LNG) infrastructure services. Using a new, purpose built Floating Storage and Regasification Unit (FSRU) provided by Hoegh LNG…
Trump Administration Approves Eni Plan to Drill Offshore Alaska
Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan on leases the company has been sitting on for 10 years. The approval is conditional on Eni getting other state and federal permits, which in past cases are generally granted once BOEM gives the green light. "We know there are vast oil and gas resources under the Beaufort Sea, and we look forward to working with Eni in their efforts to tap into this energy potential," said BOEM's acting Director Walter Cruickshank.
Turkish Navy Monitoring Drilling Vessel near Cyprus
Turkey has sent two ships and a submarine to monitor a drilling vessel in the eastern Mediterranean Sea, the military said on Thursday, in a move likely to increase tension with Cyprus after reunification talks failed last week. The drilling work, a contractual obligation between Cyprus and France's Total, comes a week after the collapse of talks to reunify the divided island nation, split between ethnic Greek and Turkish Cypriots. Ankara has said it will take measures against Cyprus for engaging in gas and oil exploration around the island. It says that hydrocarbon resources in the waters around the divided island should belong to both sides. The military said it had deployed the frigates and a submarine to the eastern Mediterranean to "guarantee the security of oil transportation".
Boskalis, Van Oord JV Awarded Nord Stream 2 Rock Placement LOI
A joint venture between Royal Boskalis Westminster N.V. and Van Oord has been awarded a LoI (Letter of Intent) for rock placement services for the Nord Stream 2 project. The award was made by the project developer Nord Stream 2 AG and is a part of the construction of the planned twin 1,200 kilometer gas pipelines running through the Baltic Sea, connecting Russia to Europe. The contract value is approximately EUR 250 million ($285 million), with a 50 percent share for Boskalis. Contract details are expected to be finalized in the next few weeks.
Denmark Charges Former OW Bunker Manager with Fraud
Denmark's general prosecutor said on Thursday it had charged a former Singapore unit manager of Denmark-based OW Bunker with fraud. The prosecutor said the former manager, a Danish citizen, has been charged with committing fraud of agent for more than 800 million Danish crowns ($122.79 million) by granting credit outside his mandate. The prosecutor also said it did not find legal grounds for criminal prosecution of other management members within the OW Bunker group, the world's biggest marine fuel supplier before it went bankrupt in 2014. Reporting by Stine Jacobsen
BP Sends US Diesel to Australia
Second such cargo in a year - traders; cargo loads from Cherry Point, heading to Botany Bay. Oil major BP Plc is shipping diesel from the United States to Australia in an unusual shipping flow, several industry sources told Reuters on Thursday. The Jupiter Express carrying about 35,000 tonnes of diesel loaded from BP's Cherry Point, Washington refinery on June 29 and is currently headed to Botany Bay, New South Wales in Australia, shipping data on Thomson Reuters Eikon showed. BP declined to comment.
Golar LNG Cuts Dubai FSRU Charter
Golar LNG Partners has agreed with the charterer of the Golar Freeze FSRU, Dubai Supply Authority (DUSUP) certain amendments to the existing time charter that was due to end in May 2020. DUSUP have two FSRU's on contract and do not currently have full time use for Golar Freeze and have therefore been working with Golar Partners to find alternative employment. Golar Partners and DUSUP will continue to cooperate with regards to future employment for Golar Freeze but in the meantime have agreed certain amendments to the existing charter.
Low-sulphur Gasoil Deliveries for July Fall at Expiry -ICE
Deliveries of low-sulphur gasoil for July fell to 1,679 lots, or 167,900 tonnes, InterContinental Exchange data showed on Wednesday. The contract expired at $442.25, up from $429 a tonne at June's expiry, when deliveries reached 3,036 lots. (Reporting by Eileen Soreng)
Drilling in Disputed South China Sea may Resume
Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said on Wednesday, as the government prepares to offer new blocks to investors in bidding in December. The Philippines suspended exploration at the Reed Bank, which it calls Recto Bank, in late 2014, as it pursued international arbitration over territorial disputes. The bank is in waters claimed by China. Ismael Ocampo, director at the Department of Energy's Resource Development Bureau, told reporters the agency expected the suspension to be lifted in December. He said a directive from the Department of Foreign Affairs directing the Department of Energy to resume oil and gas exploration in the South China Sea was already in the works.
Shell Exercises FPSO Turritella Purchase Option
Shell E&P Offshore Services B.V. will exercise its right under the charter agreement to purchase the floating production storage and offloading vessel (FPSO) Turritella, enabling a Shell affiliate to assume operatorship of the Gulf of Mexico ultra-deepwater Stones development in its entirety. The company selling the FPSO is a joint-venture (JV) owned by SBM Offshore with 55 percent interest, Mitsubishi Corporation with 30 percent interest and Nippon Yusen Kabushiki Kaisha (NYK Line) with 15 percent interest.
Virgina Offshore Wind Project Moves Forward
An offshore wind project in the U.S. mid-Atlantic is moving forward, as project owner Dominion Energy Virginia has signed an agreement and strategic partnership with DONG Energy to build two 6-megawatt turbines 27 miles off the coast of Virginia Beach. The two companies will now begin refining agreements for engineering, procurement and construction. Dominion Energy remains the sole owner of the project. Engineering and development work on the newly named Coastal Virginia Offshore…
Marsol Signs Two-Year OOCEP Contract
Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has signed a two years contract with Oman Oil Company Exploration & Production LLC (OOCEP) for the provision and management of the marine and offshore activities related to the tanker loading, via the single point mooring (SPM) offshore marine terminal including maintenance works, vessels, equipment and manpower. The Musandam gas plant, located on the west coast of the Musandam Peninsula…
Stena Drilling Extends Inspection Contract with Sparrows
Sparrows Group has been awarded a three-and-a-half-year extension to its inspection services contract for Stena Drilling’s global fleet of drilling vessels. The contract scope includes carrying out LOLER lifting gear surveys, potential dropped objects surveys, cargo carrying unit (CCU) and non-destructive testing (NDT) inspections as well as rig specific maintenance. As well as an extension to the contract, the scope has also been expanded to cover Stena’s entire fleet of seven vessels, including the Stena Don in Norway.
BOURBON to Support World's First Autonomous OSV Project
BOURBON entered into a Memorandum of Understanding (MOU) with Automated Ships Ltd to support the building of the world’s first autonomous, fully-automated prototype vessel for offshore operations, in collaboration with the project’s primary technology partner, KONGSBERG. BOURBON will provide detailed input to the development and design of the Hrönn project, ensuring flexibility, reliability and cost efficiency to operate safely and effectively in the offshore environment. In the second phase of the project…
Huge Potential for LNG in Iberian Peninsula
With the global fuel sulphur limit of 0.5% entering into force in 2020, the interest towards LNG as a marine fuel is increasing. One of the main obstacles to the accelerated uptake of LNG, however, is the uncertainty regarding future market volumes for LNG. DNV GL has addressed this issue in a recent market study on the future LNG market in the Iberian Peninsula, as part of driving the development of an EU-wide network of LNG refuelling points. DNV GL conducted the market study on behalf of the six-year CORE LNGas hive project1…
MOL Methanol Carriers Win Technology Awards
Mitsui O.S.K. Lines (MOL) announced that a series of three MOL-operated 50,000 DWT methanol carriers — the Taranaki Sun, Manchac Sun, and Cajun Sun - received the "Technology Special Prize" in the Ship of the Year 2016 awards sponsored by The Japan Society of Naval Architects and Ocean Engineers (JASNAOE). Every year, the Ship of the Year judges select the made-in-Japan vessels that represent the highest levels of technology, design and social responsibility. The Technology Special Prize goes to the most technologically advanced ships…
OSV Companies Running Out of Options -Study
As oil continues to sell below $50 per barrel, 2017 could be one of the toughest years in decades for Offshore Supply Vessel (OSV) companies, according to a study of 44 companies in the industry by AlixPartners. The firm’s analysis highlights these companies’ rising debt burdens, making it increasingly unlikely that most of them can maintain solvency. The industry faces grave financial pressure, which is clear from recent bankruptcy filings and distressed mergers. Exploration and production (E&P) companies have drastically reduced their rig counts, causing demand for OSV services to plunge.
Total E&P Charters Bibby WaveMaster 1
Bibby Marine Services said it has signed a contract with Total E&P Netherland to charter the new Damen designed and built walk-to-work’(W2W) service operationvVessel Bibby WaveMaster1 from April 2018 through to October 2018, with options to extend up to three years. Total E&P Nederland will use the Bibby WaveMaster 1 to replace jack ups and helicopters and to provide access to gas platforms in the southern North Sea. The vessel will provide accommodation for up to 90 pax including crew.
Qatar LNG Flows Unaffected by Crisis -Shell
Qatari exports of liquefied natural gas (LNG) remain stable amid ongoing tension between the world's biggest LNG exporter and its neighbours, an executive for Royal Dutch Shell said on Monday. "LNG flows remain stable, cargoes are going into the market," said Steve Hill, Executive Vice-President for Gas and Energy Marketing and Trading at Shell, one of the world's biggest LNG traders. "Qatar is a very credible and competent LNG producer," Hill said at an industry event in Istanbul. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut ties with Qatar on June 5, accusing it of backing terrorism. Doha has denied the allegations. Qatar said on Monday that its exports, including of LNG, to Japan, India, South Korea and China had not been affected by a the boycott.
Ampelmann Introduces New Personnel Transfer Gangway
Ampelmann has launched its latest gangway for personnel transfer: the A-type Enhanced Performace (AEP). Now providing clients with 10 percent greater workability in sea states up to 4m significant wave height; the AEP also has the ability to use smaller vessels to obtain similar performance (compared to current A-type). The AEP features an advanced motion compensation control system with precision controls to enable fast landing and comfortable people transfers. The system significantly improves operational up-time on projects year-round and provides benefits to operators in rougher waters…
BPCL to Buy First U.S. Crude via Tender
Indian refiner Bharat Petroleum Corp Ltd plans to buy its first ever cargo of crude oil from the United States, a tender document showed on Monday. BPCL is seeking at least 1 million barrels of crude either for loading on Aug. 16-Sept.5 or delivery on Sept. 26-Oct. 15, it said. Part 1 of the tender closes on July 11 and part 2 on July 14. Offers will remain valid until July 14. Reporting by Florence Tan
NITC: Tanker Shipments to Europe Increasing
NITC, Iran's leading oil tanker operator, said on Monday its shipments to Europe were increasing daily and it plans to upgrade its fleet to support expansion. International sanctions on Iran were lifted in January 2016 and NITC is looking to come in from the cold after years of isolation. Mohammad Reza Shams Dolatabadi, NITC's head of international affairs, told Reuters on the sidelines of an energy industry conference in Istanbul that the company aimed to replace some of its older tankers with new vessels. He added that the company also planned to acquire liquefied natural gas (LNG) tankers, marking a new direction for the company. "We are thinking of an LNG fleet in the future," he said. Dolatabadi said the number of NITC ships calling at European ports was set to increase.
Firmer MidEast, WAfrica Sentiment Supports VLCC Rates
Middle East rates helped by fewer old vessels; about 96 MidEast cargoes fixed, 25 to come. Freight rates for very large crude carriers (VLCCs) could rise next week on firm sentiment in the Middle East and West Africa markets but higher oil prices and fewer floating storage opportunities could cap increases, brokers said on Friday. "Middle East rates to the east have crept up one or two points (on the Worldscale measure)," said Ashok Sharma, managing director of BRS Baxi in Singapore. "Rates are up to W52.50 today. There is a slightly firm undertone," he added.
DNV GL Rolls Out New Sesam
With the new release of Sesam software for structural engineering and analysis, DNV GL is showing the results of ramped-up focus on cutting costs and boosting efficiency for customers. One of the key targets is reduction of tedious work. “We are resolute about efficiency,” says Ole Jan Nekstad, Sesam Product Director at DNV GL – Software. “Efficiency gains have been the driver of this release. Along with feedback from the annual customer satisfaction survey, Sesam’s Customer Advisory Team has been instrumental in prioritizing the development work with new functionality for fixed…
New Motion Compensated Gangway Unveiled
Barge Master and Bosch Rexroth have jointly introduced a new motion compensated gangway to the offshore wind market. After numerous simulations and virtual tests, the first actually manufactured gangway is currently being tested onshore at the Bosch Rexroth facilities in Boxtel, the Netherlands. On June 21 this location was transformed into a presentation area, where the visitors were informed about the partnership between the two companies, and allowed to have a close look at the complex technology on the demonstrated gangway.
Vietnam Renews India Oil Deal In Tense South China Sea
Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region. The moves come at a delicate time in Beijing's relations with Vietnam, which claims parts of the sea, and India, which recently sent warships to monitor the Malacca Straits, through which most of China's energy supplies and trade passes. Vietnam granted Indian oil firm ONGC Videsh a two-year extension to explore oil block 128 in a letter that arrived earlier this week, the state-run company's managing director Narendra K. Verma told Reuters.
Wind Farm Vessel Delivered to Mainprize Offshore
Aluminium Marine Consultants informs it has handed over MO4 to Mainprize Offshore this week for work as a wind farm support vessel carrying both cargo, equipment and personnel out of the port of Hooksiel to the German wind farm sector on an eight-year contract with Deutsche Windtechnik on the Nordergründe wind farm. MO4 took a break from sea trials to attend Seawork where she showed off her expansive deck and cabin area, with the ability to increase to 24pax. She would require a small alteration that has been designed into the construction and layout of the saloon.
Spread of GE Tech Ordered for DSV Newbuild
Shanghai Salvage Bureau’s (SSB) new ship is purpose-designed for a range of roles including deep-water salvage operations, deep-water pipelay and construction as well as a saturation diving capability for up to 24 divers in two bells. Recently, GE’s Marine Solutions has been chosen by SSB, one of the largest rescue and salvage companies in the world, to provide a suite of marine technologies including power and propulsion equipment, dynamic positioning (DP) and automation and control systems to its newest deep-water dive support vessel (DSV).
Bureau Veritas Rules Support Hybrid Power and ESS
Bureau Veritas has issued a new chapter in its rules providing a framework for electric and hybrid power solutions. The new class notations include power management (PM), power back-up (PB) and zero emission (ZE) standards. It is expected that the notations will encourage wider uptake of energy storage systems (ESS) to provide both operational and environmental benefits. Martial Claudepierre, Business Development Manager, Bureau Veritas, said, “Industry uptake of hybrid and battery technology has been driven by environmental regulation.
Fugro Continues IMR Work for Petrobras
Fugro said it has been awarded a further two-year contract by Petrobras to provide inspection, repair and maintenance (IRM) and pipeline inspection services in Brazil. Operations commenced in May 2017. The new award follows Fugro’s completion of an initial 12-month contract for the oil major, after taking delivery of the newbuild vessel Fugro Aquarius. Built specifically for the Brazilian market by Wilson Sons shipyard in São Paulo, with local content of more than 60 percent, Fugro Aquarius is an 83-meter, DP-2 ROV support vessel.
Canada Orders Seizure of Oil Tanker
The Federal Court of Canada has ordered the seizure of a 721,915-barrel cargo of crude from Kurdistan aboard the "Neverland" oil tanker on the request of the Iraq Oil Ministry, court documents show. The Iraq Oil Ministry has also filed a claim against commodity trading house Vitol S.A. and subsidiaries including Mansel Ltd, the charterer of the ship, and affiliate Finaval SpA di Navigazione, the owner of the ship, for $32.5 million. Iraq claims the cargo was unlawfully misappropriated by the Kurdistan Regional Government and sold to Vitol to be loaded onto the "Neverland." Vitol declined to comment. The court action, dated June 29, is…
Asia's Booming Diesel Market Draws Rare European Cargoes
Rare cargoes booked out of Europe to Asia, Middle East; Indian demand, refinery maintenance boost Asian prices. Oil traders are shipping diesel out of Europe to Asia and the Middle East where strong demand and tighter supplies have boosted prices, in a rare arbitrage that reverses traditional routes. At least three 90,000 tonne diesel cargoes were booked in recent days out of northwest Europe options to go to Singapore and the Middle East, shipping data showed. BP chartered the…
Qatar to Boost LNG Production by 30% Amid Arab Dispute
State-owned Qatar Petroleum said Tuesday it aims to raise Qatar’s LNG production from 77 million to 100 million tons per year. The new additional volumes will be secured by doubling the size of the new gas project in the southern sector of the North Field, which Qatar Petroleum had announced last April. This will increase the North Field’s production of natural gas, condensate and other associated products by one million barrels of oil equivalent per day. The announcement was made by Saad Sherida Al-Kaabi…
Gazpromneft-Lubricants Bolsters Caspian Sea Ports Supplies
Gazpromneft-Lubricants, the Gazprom Neft oil business operator, has started delivering marine lubricants in the sea port of Makhachkala, Republic of Dagestan. The first supply to the Dniester dredging vessel was carried out as part of the three-year agreement with Rosmorport signed in spring, 2017. According to the agreement, Gazpromneft-Lubricants is going to deliver 1500 tons of marine lubricants to the company's vessels. The sales territory of Gazpromneft-Lubricants’ marine products under the present agreements include the Northwestern…
Dunkirk Plans LNG Fueling Station
Dunkirk's LNG terminal and Grand Port Maritime de Dunkerque have signed an agreement for the development of an LNG supply station. The use of liquefied natural gas (LNG) by shipping and road vehicles has grown significantly in recent months with new projects (orders for ships, LNG supply stations, etc). Dunkerque-Port and Dunkerque LNG are convinced of the role that LNG will play both at sea and on land in reducing greenhouse gas and particle emissions. Dunkerque-Port and Dunkerque LNG have signed a partnership agreement for the development of a station to supply LNG to tank trucks.
The Impact of Future Global Tides on Energy
The first comprehensive study of the impact of global sea-level rise on tides has implications for future coastal flood risk, harbour management, and the long term planning of tidal energy sites. This research, published in Continental Shelf Research by scientists at the National Oceanography Centre (NOC), University of Southampton and Deltares, shows that sea-level rise can significantly alter tides across the world in many different ways in both space and time. The change will be most pronounced in shelf seas on the east coast of the Americas…
Yinson Sells FPSO Stake in Ghana
Malayasia's Yinson Holdings has sold its26 percent stake in its floating production, storage and offloading (FPSO) unit in Ghana to a consortium of Japanese companies, The Star reported. According to the heads of agreement (HoA) with the consortium, the value of the stake in Yinson Production (West Africa) Pte Ltd (YPWA), the company said yesterday, was estimated in the range of $104 million to $117 million. “The group welcomes the Japanese consortium on board FPSO John Agyekum Kufuor (FPSO JAK) via this monumental collaboration between both parties…
EU Needs to Address Decommissioning of Floating Oil and Gas Structures
A joint event between the European Economic and Social Committee (EESC) and three Green Members of the European Parliament highlighted the paradox between the strict rules under OSPAR for the decommissioning of fixed oil platforms from the North Sea with the rules that govern the recycling of floating platforms and structures. The latter fall under the same rules as commercial ships, and would therefore have to follow the EU Ship Recycling Regulation. The NGO Shipbreaking Platform…
Trump to Promote US Natgas Exports in Russia's Backyard
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months. Exports from the United States would help reduce their dependence on Russia. Trump will tell the group that Washington wants to help allies by making it as easy as possible for U.S.
DONG, CWind Extend Crew Transfer Vessel Contract
CWind, a provider of services to the offshore wind industry, informs that DONG Energy, one of the key energy groups in Northern Europe, has granted CWind a two-year extension to its existing three-year Crew Transfer Vessel contract at the West of Duddon Sands Offshore Wind Farm in the Irish Sea. CWind, the offshore power focused business of Global Marine Group (GMG), will provide vessels for Operations & Maintenance (O&M) to the 108-turbine West of Duddon Sands site, including a summer campaign to ensure the site remains operating at peak performance throughout the busier summer months.
Oil Spilled After U.S. Train Derailment
Canadian National Railway Co said about 20,000 gallons of oil was released following a freight train derailment at Plainfield, the U.S. state of Illinois on Friday, according to a filing with state pollution regulators. The cause of the derailment was unknown, a filing with the Illinois Emergency Management Agency said on Saturday. Local media reports estimated the spill to be 45,000 gallons. The incident occurred when 20 cars of a Canadian National Railway Co freight train, carrying crude for Exxon Mobil Corp to Louisiana…
US Oil Drillers Cut Rigs for First Week since January
U.S. oil drillers cut rigs this week for the first time since January and the pace of additions slowed this quarter due to declines in crude prices despite an OPEC-led effort to cut production and end a multi-year supply glut. Analysts, however, noted the weekly decline in the rig count was likely just a brief pause in a drilling recovery expected to continue through at least 2019. Drillers cut two oil rigs in the week to June 30, bringing the total rig count down to 756, still more than double the 341 rigs in the same week a year ago…
UN Resolution Targets Libyan Fuel Smugglers
The U.N. Security Council has extended sanctions on illegal oil exports from Libya to cover refined petroleum products as well, in a bid to stem rampant smuggling of subsidised fuel by sea. Imported fuel that is priced lower for the domestic market is commonly smuggled by ship from western Libya to Malta, Italy and Turkey, and by land to Tunisia, according to U.N. investigators who earlier this month recommended an extension of the sanctions. Entrenched and powerful smuggling networks have been trading fuel for years, and it is unclear to what extent the resolution can be enforced. The new resolution, approved late on Thursday, is designed to make explicit that fuel smuggling is illegal…
LNG Price Row between GAIL, Cheniere Looms
India's biggest importer of U.S. liquefied natural gas (LNG) is trying to re-negotiate prices with the U.S. seller, sources said, undermining plans by U.S. President Donald Trump to export more gas to the fast-growing Asian nation. At a joint news conference with Indian Prime Minister Narendra Modi at the White House this week, Trump said the United States looked forward to exporting more energy, including new major long-term contracts to purchase American natural gas. The effort is part of Trump's policy of seeking to assert power abroad through a boost in natural gas…
Asia Demand for U.S., Atlantic Basin Crude Oil Jumps
Japan refiners book US crude cargoes for Sept delivery. Asian demand for crude oil from the Atlantic Basin and the Americas is set to rise as low prices drive Japanese and South Korean buyers to snap up cargoes to arrive ahead of peak winter consumption. Robust appetite from the region could help soak up excess supplies in Europe and the United States, offering some support to benchmark global prices that plumbed 10-month lows last week. The loading of oil shipments from Europe and the Americas to Asia tapered off in June after surging between March and May…
Asia Tankers-VLCC Rates Flat as Old and New Ships Compete
MidEast-Asia rates likely to remain flat until August; paper derivative trades show no uptick until October. Freight rates for very large crude carriers (VLCCs) are likely to remain flat next week, a situation that could well last until August, brokers said on Friday. "Rates are stuck. I don't see there being any hope for July cargoes. Similar rate levels are probably here for August cargoes," a Singapore-based supertanker broker said on Friday. Current pricing of VLCC derivative futures for the Middle East-Japan route stood at 52.50 on the Worldscale measure for July.
Subsea 7 Acquires EMAS Chiyoda Subsea Assets
Subsea 7 S.A. said it has acquires certain businesses of EMAS Chiyoda Subsea (ECS) under a U.S. bankruptcy code Chapter 11 Plan of Reorganization, confirmed by the U.S. Bankruptcy Court for the Southern District of Texas and became effective on June 29, 2017. According to Subsea 7, it will pay less than $100 million in aggregate, including its contribution to the Debtor in Possession credit facility, to acquire the ECS businesses, the Ingleside spoolbase and other assets. “In…
Rosneft May Build LNG Plant in Far East on Its Own
Russian energy giant Rosneft may build a liquefied natural gas (LNG) plant in the far east using exclusively its own resources and gas reserves, Rosneft vice president Vlada Rusakova said on Thursday. Rosneft and U.S. energy firm Exxon earlier announced plans to build an LNG plant in Russia's far east together. Rusakova said Rosneft's base scenario for monetising its gas reserves and those of its partners in the Sakhalin-1 project remained building an LNG plant together with Exxon. (Reporting by Katya Golubkova and Olesya Astakhova; Writing by Alexander Winning; Editing by Elaine Hardcastle)
Weak US Imports Push European Gasoline East
Unusually bloated gasoline inventories in the U.S. during peak summer driving season has kept the transatlantic arb barely workable. EIA data indicates that gasoline imports into the U.S. East Coast (PADD 1) for June averaged 549 kb/d so far, down by 15.4 percent m-o-m. As such, an atypical influx of LR tankers carrying gasoline from Europe have been fixed to the East in recent weeks. At least 6 LR2 and LR1 tankers loaded with gasoline are heading from the ARA region to AG/Singapore in June.
Shell's FLNG Facility Sets Sail for Australia
Royal Dutch Shell's Prelude floating liquefied natural gas (FLNG) ship has left a shipyard in South Korea for its destination offshore northwest Australia, the company said on Thursday. Shell's $12.6 billion Prelude project is expected to start operating next year, the company said, after long delays since the oil major first decided to go ahead with the project in 2011. Once the facility arrives in Australia, it will be secured to the seabed by mooring chains before it can be connected to the gas field and start operating, Shell said.
Statoil Awards Contracts to Five Ship Owners
Norwegian oil firm Statoil has awarded contracts to five separate ship owners. The award by Statoil covers seven supply vessels at a total contract value of NOK 3.1 billion (USD 370 million), including options. All vessels will be equipped with hybrid battery operation, and the possibility of shore power connection. “We look forward to a long-term cooperation with the chosen ship owners. The contracts will bring predictability to both the ship owners and Statoil, and will allow us to focus on optimising our operations to continuously improve operation…
ExxonMobil Joins with Eagle LNG, Crowley on LNG Marine Fueling
ExxonMobil, Eagle LNG Partners LLC (Eagle LNG Partners) and Crowley have signed an agreement to collaborate on the development of LNG as a marine fuel. The goal is to establish the storage and technical support necessary to provide safe, reliable LNG delivery for vessel operators bunkering in North America. The three companies signed a Memorandum of Understanding (MoU) on June 27, 2017. The parties will initially focus their efforts in Florida before expanding to other North American markets.
Keppel Bags $85 Mln Conversion and Repair Projects
Keppel Offshore & Marine Ltd (Keppel O&M) has through its wholly owned subsidiary, Keppel Shipyard Ltd (Keppel Shipyard), won four contracts worth a total of $85 million for the conversion, repair and modification of vessels. The first contract is from Dixstone Holdings Ltd, for the conversion of the M/T Tempera into an FPSO. Keppel Shipyard's job scope includes the installation of topside process skids as well as a new accommodation module, amongst others. Work is expected to commence in 3Q 2017 and upon its expected delivery in 3Q 2018, the FPSO will be deployed to the Yombo field operated by Perenco off the Republic of Congo, Africa. It will replace the FPSO Conkouati which has served the field for more than 25 years and was also converted by Keppel Shipyard in 1991.
Deltamarin Targets Better Ship Efficiency
Deltamarin said it aims to help ship owners and operators boost vessels’ energy efficiency with its new smart simulation tool, offering several items with significant fuel saving potential (3-6 percent of total fuel costs). Deltamarin’s “Energy and Environmental Efficiency” (EEE) ship design process includes several dimensions, such as practical design tools for modeling the energy consumption, a consistent follow-up method of the performance indicators and a bunch of useful project practices that enable taking the design ideas and results and implementing them in real life.
Wood Group Bags Alexandroupolis FEED
Wood Group has secured a new front end engineering design (FEED) contract with Gastrade S.A. for the Alexandroupolis Independent Natural Gas System (INGS) offshore Greece. The project, to develop a floating liquefied natural gas (LNG) receiving, storage and regasification unit (FSRU), will create a new natural gas gateway to the markets of south eastern and central Europe. Wood Group’s subsea team will perform the design and engineering definition of the Alexandroupolis FSRU and its subsystems which will support the final investment decision for the project, planned for late 2017.
Global Maritime Appoints Indonesia Country Manager
Global Maritime, a provider of marine warranty, dynamic positioning and engineering services to the offshore sector, has appointed Oliver Stettner as Country Manager for Indonesia. Stettner will be tasked with growing Global Maritime’s Indonesian business as well as spearheading the company’s renewables efforts across the Asia Pacific. Stettner is an engineer who has extensive experience in hydrodynamic and structural analysis and marine warranty surveying, particularly in the offshore wind industry.
GeoSea Bags Offshore Wind Installation Work from EnBW
DEME Group’s offshore marine engineering subsidiary GeoSea said that, following successful completion of the design, it also received the Notice to Proceed for fabrication and offshore installation of 16 wind turbine foundations and 1 Offshore Transformer Module (OTM) for the EnBW Albatros offshore wind farm, for which GeoSea is Siemens’ EPCI partner. This partnership enables Siemens to provide a full-scope project (offshore wind turbines and OTM, incl. foundations) to EnBW. The Albatros offshore wind farm is located in the so-called “exclusive economic zone” of the North Sea, in the immediate vicinity of the EnBW windfarms Hohe See and He Dreiht, approximately 90 km north of the island of Borkum in the German North Sea.
Aegean Marine Strengthens Presence on the U.S. East Coast
Aegean Marine Petroleum Network has announced the launch of a new service center in Savannah, Georgia, the third largest container port in the United States. The operations in Savannah will be managed by the existing Aegean U.S. team. Under the terms of the agreement with Colonial Terminals, Inc., Aegean will lease tankage from Colonial's oil terminal on the Savannah River. Aegean will acquire and blend a full range of bunker fuel products and has agreed to supply Colonial Oil Industries, Inc. with a range of No. 6 oil products for Colonial's truck delivery business.
Dora Could Reach Hurricane Strength Today
Tropical Storm Dora, located off the western coast of Mexico in the Pacific Ocean, is strengthening quickly and is expected to become a hurricane on Monday, the U.S. National Hurricane Center (NHC) said on Sunday. Maximum sustained winds were about 70 miles per hour (110 km per hour), with higher gusts. Dora was strengthening quickly and was forecast to become a hurricane on Monday, the NHC said in its latest advisory late on Sunday night. The NHC warned of possible heavy rains along the southwestern coast of Mexico but added that the center of the storm was expected to move parallel to the coast of Mexico but remain offshore. It said no coastal watches or warnings were in effect.
Mexico's Pemex Sees Restart of Salina Cruz Refinery
Mexican state oil producer Pemex said on Thursday that it expects to restart operations on July 30 at Salina Cruz, its largest oil refinery, after it was hit last week hit by flooding and subsequent fire that forced a shutdown of the plant. The program contemplates three-way actions: Restarting operations; cleaning and rehabilitation of the affected site and general maintenance, taking advantage of the shutdown of the process. This last activity would allow for the advancement of the maintenance that was scheduled for next April…
Novatek Aims to Topple Qatar from LNG Top Spot
Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied natural gas as it gets closer to completing its first LNG project, a top executive said, batting away concerns about U.S. sanctions on the sector. The country's largest non-state gas producer is expected to start exporting LNG from the first phase of the Yamal project, situated far above the Arctic circle, towards the end of this year and may bring forward its final stage by six months, CFO Mark Gyetvay said.
Cindy's Remnants Drench Gulf Coast, Wreaking Havok
The remnants of Tropical Storm Cindy brought tornadoes and flooding to the U.S. Gulf Coast on Thursday and its heavy rains will drench much of the eastern United States in coming days, forecasters said. Flooding and road closures stretched from east Texas into northwestern Florida after Cindy made landfall early on Thursday near the Louisiana-Texas border and weakened to a tropical depression, the National Weather Service said. Cindy is expected to dump 3 to 6 inches (7.5 to 15 cm) of rain as it heads north and east into the Ohio Valley and the Appalachian Mountains through Saturday, said Brian Hurley, a weather service meteorologist. Totals could reach 9 inches (22.5 cm) in some areas. "We're looking at quite a bit of rain. That's going to be the main threat," he said.
KOGAS to Receive first Cheniere LNG Cargo
KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract. Korea Gas Corp (KOGAS) will early next month receive its first liquefied natural gas (LNG) cargo under a long-term supply deal with U.S. exporter Cheniere Energy, two sources at the South Korean company said on Friday. The 74,000-tonne LNG cargo was loaded from Cheniere's Sabine Pass export terminal in Louisiana and is scheduled to arrive at the port of Tongyeong, South Korea on July 2, one of the sources said. Both sources declined to be identified.
Asia Tankers-VLCC Rates Supported by Floating Storage
Trafigura hires five VLCCs to store oil; short-term storage a profitable play. Freight rates for very large crude carriers (VLCCs) could creep higher as more ships are chartered for floating storage and crude oil shipments increase ahead of the northern winter, brokers said. "There might be a slow creep up towards 60 (on the Worldscale measure)," said Ashok Sharma, managing director of ship broker BRS Baxi in Singapore on Friday. "W60 is at least on the horizon. Rates from West Africa to China are already at W56," he added.
India's LNG Market to Reach USD 30.7bln by 2025
India Natural Gas and LNG market is expected to grow from US$ 19.7 billion in 2015 to US$ 30.7 billion by 2025 at a CAGR of 5.06% between 2016 and 2025. According to a report by Research and Markets, natural gas including Regasified Liquefied Natural Gas (R-LNG) in India has been widely recognized as the fuel with multiple promising aspects. The present situation of the gas sector in India is going through multiple challenging phase. Due to its high macroeconomic growth visions and increasing population…
Statoil, AET Expand Shuttle Tankers Contract
Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. These new vessels are in addition to the two AET DP2 ships currently on charter in the same area for Statoil.
SBM Offshore Awarded Liza FPSO Contract
SBM Offshore said it has secured contracts from ExxonMobil to construct, install, lease and operate a floating production, storage and offloading vessel (FPSO) for the next phase of the Liza project in Guyana. The contracts follow completion of front-end engineering studies and the final investment decision on the project by ExxonMobil. The Liza field is located in the Stabroek block, which covers almost 27,000 square kilometers, circa 200 kilometers offshore Guyana. Esso Exploration and Production Guyana Limited is the operator and holds a 45 percent interest in the Stabroek block. Hess Guyana Exploration Ltd. holds a 30 percent interest, and CNOOC Nexen Petroleum Guyana Limited holds a 25 percent interest.
Cindy to Weaken this Morning - NHC
Tropical storm Cindy is expected to weaken while moving farther inland and become a tropical depression later Thursday morning, the U.S. National Hurricane Center (NHC) said in its latest advisory. "Continued weakening is forecast during the next 48 hours, and Cindy should weaken to a tropical depression later this morning, and become a remnant low tonight," the Miami-based weather forecaster said. Cindy, now located about 40 miles (65 km) northwest of Lake Charles, Louisiana with maximum sustained winds of 40 miles per hour (65 km/h), will likely move into southeastern Arkansas early Friday, and into Tennessee later that day. Reporting by Vijaykumar Vedala and Apeksha Nair
DNV GL, Goldwind in Wind Power Pact
Goldwind International and DNV GL has signed a Memorandum of Understanding (MoU) for optimizing offshore and onshore wind projects. DNV GL to be preferred independent third-party advisor for performance optimization of offshore and onshore wind projects. DNV GL, the world’s largest resource of independent energy experts and certification body, said in a statement that it has signed MoU with Goldwind International during the Norway-China Partnership for Low Carbon Energy Transition seminar organized by the Beijing Energy Club.
Golar, Delfin to Jointly Develop US FLNG Project
A joint development agreement between Delfin Midstream and Golar LNG Limited will see the two jointly develop the Delfin LNG project off the coast of Cameron Parish, La. The joint development agreement will facilitate the financing, marketing, construction, development and operation of Delfin LNG, the first and only permitted floating LNG (FLNG) export project in the U.S. Delfin LNG is a brownfield Deepwater Port requiring minimal additional infrastructure investment to support up to four FLNG vessels producing up to 13 million metric tons of LNG per annum. Delfin purchased the UTOS pipeline, the largest natural gas pipeline in the Gulf of Mexico, in 2014 and submitted its Deepwater Port license application in 2015.
Oil at 10-month Low after Biggest First Half Slide in 20 Years
Oil prices ended down more than 2 percent on Wednesday after hitting a 10-month low in volatile trade, as growing U.S. production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut. U.S. crude futures settled at $42.53, down 98 cents or 2.3 percent, after touching a low of $42.13, the lowest intraday level since August 2016. Since peaking in late February, crude has dropped more than 20 percent, with only brief rallies. More than 1 million front-month crude contracts changed hands on Wednesday, far exceeding the daily average of 560,000 contracts.
GoM Rigs Evacuated ahead of Storm Cindy
Facing incoming Tropical Storm Cindy, offshore oil and gas operators in the Gulf of Mexico have begun evacuating platforms and rigs as the storm moves north-westward toward the U.S. Gulf Coast. Data from offshore operator reports submitted to the Bureau of Safety and Environmental Enforcement (BSEE) as of 11:30 CDT today indicate that personnel have been evacuated from a total of 40 production platforms, or 5.43 percent of the 737 manned platforms in the Gulf of Mexico. Personnel have been evacuated from one rig non-dynamically positioned (DP) rig…
Faroe Islands Looks to Restart Hunt for Oil and Gas
Oil companies are interested in restarting the hunt for oil and gas in the scarcely explored seas off the Faroe Islands neighbouring the more mature UK North Sea, the head of the Faroese Geological Survey said. No economically viable discoveries have been made on the Faroese shelf but the tiny nation hopes to entice energy firms to restart exploration as it shows them new geological data in London on Wednesday. "Oil firms have in many ways shown interest. We are having meetings, they buy data from us, visit us on the Faroe Islands ... So there is an interest and they are looking at the possibilities," survey director Niels Christian Nolsoe said.
Tropical Storm Cindy Rolls in on US Gulf Coast
Tropical Storm Cindy is likely to hit the Gulf Coast near the Texas-Louisiana border on Wednesday night, threatening to bring flash floods from Texas to Florida, according to the National Hurricane Center. Cindy was located about 165 miles (265 km) south of Morgan City, Louisiana, early on Wednesday with maximum sustained winds of 60 miles (95 km) per hour, the NHC said. The storm was moving northwest at nearly 8 miles (13 km) per hour, and forecasters said they expected this motion to continue until it hits the coast.
Rosneft to Return to State Dividend Proposal
Igor Sechin, the head of Russian oil major Rosneft, said on Wednesday that his company would return to a government proposal for state-owned companies to pay out 50 percent of their profit in dividends for Rosneft's 2017 results. (Reporting by Denis Dyomkin; Writing by Jack Stubbs)
SLNG Terminal Performs Small Scale LNG Reload First Time
Singapore LNG Corporation Pte Ltd (SLNG) has successfully performed its first small scale Liquefied Natural Gas (LNG) Gas-Up/Cool-Down and Reload at its Terminal on Jurong Island. The operation was carried out from 18-20 June 2017 for the newly built, 6,500m3, Cardissa, an LNG bunker vessel owned by Shell and co-financed by the European Union’s Connecting Europe Facility that will serve customers in Northwest Europe. The operation was conducted at the SLNG Terminal’s Secondary Jetty, which is originally designed to accommodate LNG vessels from 60,000m3 to 265,000m3 in size.
ABS Approval for Chiyoda's Floating LNG Power Plant
“As the energy mix shifts and global demand for gas increases, concepts like this will reshape how energy is supplied,” said ABS Vice President for Global Gas Solutions, Patrick Janssens. This concept offers a new approach to delivering new sources of power to remote areas of the world. The conceptual design is based on existing LNG carriers which are converted into floating power plants with small (~72 MW) to medium (~400 MW) scale power generation capabilities. In reviewing Chiyoda’s floating LNG power plant concept, ABS said it applied its relevant Rules and Guides to confirm that the conceptual design meets the intent of applicable class requirements.
Energy-efficient Shipping in South African Curriculum
Maritime educators from South Africa are taking part in an International Maritime Organization (IMO) training workshop to introduce the topic of energy-efficient ship operation into their teaching curriculums. The workshop, taking place in Durban (19-20 June) was developed under the Organization’s GloMEEP project and supports maritime training institutes to deliver the IMO Model Course 4.05 to seafarers. The course consists of lectures, interactive exercises and videos to enhance the learning experience for crews being trained and…
Oil Traders Brace for US Gulf Coast Storm
Oil traders from Texas to Louisiana braced on Tuesday for supply disruptions as Tropical Storm Cindy, formed in the U.S. Gulf of Mexico, threatened to hit refining and production centers with wind and rain later this week. Cindy was located about 265 miles (430 km) south of Morgan City, Louisiana with maximum sustained winds of 45 miles (75 km) per hour. It is expected to approach the coast of southwest Louisiana late Wednesday or Wednesday night, and move inland over western Louisiana and eastern Texas on Thursday, the NHC said. The Louisiana Offshore Oil Port, the largest privately owned crude storage terminal in the United States…
Private Producer Aims to Ship Baltic's First Russian LNG Before Gazprom
LNG Gorskaya, a privately-owned Russian liquefied natural gas (LNG) producer, has launched a 340 million euro ($379 million) project to become the first LNG exporter from Russia's European coast, its CEO told Reuters. Russia expects to send LNG to Europe by the end of 2017 from its distant Arctic peninsula of Yamal but a plant on its Baltic coast could establish the country as a more immediate supplier of LNG in a region already dependent on piped Russian gas. The company will build a floating LNG plant off the port of Gorskaya, not far from Saint Petersburg, which will be fed by a 12 km pipeline from Gazprom. The LNG will then be shipped to seven Baltic ports outside Russia using three tankers already on order from Russia's United Shipbuilding Corporation.
Snam in Talks to Buy LNG Terminal Stake from Edison
Italian gas group Snam is in exclusive talks with EDF's Italian unit Edison to buy a stake in a liquefied natural gas terminal in northern Italy as part of plans to develop its LNG business, two sources said. Snam, controlled by state lender Cassa Depositi e Prestiti, is looking to buy Edison's 7.3 percent stake in Terminale LNG Adriatico and the gas pipeline that connects it to Italy's gas transmission backbone, the sources said. Adriatic LNG, which has a capacity of 8 billion cubic metres per year, is 70.7 percent owned by ExxonMobil and 22 percent by Qatar Petroleum.
Qatar Tells US It Will Maintain Stable LNG Exports
Qatar's finance minister told U.S. Treasury Secretary Steven Mnuchin during a trip to Washington last week that Qatar was committed to maintaining stability around its exports of liquefied natural gas to the global energy market, according to a statement by Qatar's government communication office. "They discussed Qatar’s efforts to counter terror financing ... and Qatar’s commitment to maintaining stability around its exports to the global energy market," the statement said. Saudi-led sanctions imposed two weeks ago on Qatar, the world largest exporter of LNG, have raised concerns about the Gulf state's energy output but officials have said Qatar's LNG exports have not been affected. (Reporting by Tom Finn)
Offshore Gas Safety atop the Agenda for Martek Marine
Maritime industry technology specialists Martek Marine say it is setting the bar high when it comes to offshore gas safety. The company has developed a first-of-its-kind gas sampling system for a new moored floating production unit, which forms part of the Jangkrik Complex gas fields development in Indonesia. The system has been developed to dramatically improve offshore crew safety through the use of advanced gas sampling technology. The worst offshore disaster in history, the Piper disaster on July 6…