US Oil Rig Count Steady this Week -Baker Hughes
U.S. energy companies kept the oil rig count unchanged this week, General Electric Co's Baker Hughes energy services firm said on Friday, as some analysts expect a gradual decline in overall rigs in the fourth quarter and in 2018. The rig count, an early indicator of future output, held at 738 in the week to Nov. 17, still much higher than 471 rigs a year ago as energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash. The increase in drilling lasted 14 months before stalling in August…
Offshore Oil Service Firms Dominate Energy Bankruptcies
Offshore oil drilling and service companies, hurt by the energy industry's shift to lower-cost shale and away from deepwater projects, are dominating the year's energy bankruptcies in North America, according to law firm Haynes and Boone. There were fewer oilfield service companies seeking protection this year than last but those that did have had larger debts. Through October, 44 oilfield services companies filed for bankruptcy in the United States and Canada owing creditors $24.8 billion, compared with 72 companies and $13.48 billion for all of 2016.
CNPC, Cheniere Pact for LNG
China’s state-owned oil company, China National Petroleum Corporation (CNPC), and U.S. independent energy company Cheniere Energy have signed a Memorandum of Understanding (MoU) for long-term sales and purchases of liquefied natural gas (LNG), Reuters reported. The report quoted U.S. State Department saying that the deal between the two companies was signed during president Trump’s first state visit to China. Neither companies disclosed details of the transaction. According to CNPC…
MOL's Coal Carrier NAGARA MARU to Serve JERA Trading
Mitsui O.S.K. Lines (MOL) announced the delivery of the coal carrier NAGARA MARU, which will serve Singapore-based JERA Trading, was delivered at Imari Shipyard and Works of Namura Shipbuilding on November 17, 2017. The vessel, which was jointly developed by Namura Shipbuilding and MOL, is a state-of-the-art coal carrier with a wide-beam/shallow-draft configuration and wide range of advanced safety and energy-saving features. The vessel is so-called "Hekinan MAX" which has characteristic 250 meters length to maximize transport volume to the discharging port…
ABB Outlines Its Plan for Shipping's Future
“We are living through one of the most exciting periods in the history of the maritime industry,” said Juha Koskela, Managing Director, ABB Marine & Ports. ABB, a company with its sights set on spurring the next step change for vessel and fleet management, has laid out its new approach “harnessing the full potential of its power, control and automation solutions” via digital integration. “We believe the next generation of ships will be electric, digital and connected as the industry moves towards the use of new energy sources and automated ship operations,” Koskela said. “Electric. Digital.
US to Become Oil and Gas World Leader in Long Term - IEA
The head of the International Energy Agency Fatih Birol said on Thursday the United States would - in the long term - become the "undisputed leader of oil and gas production worldwide". Speaking at the U.N. climate conference in Bonn, Germany, he said the agency expected oil markets to rebalance next year if oil demand remained "more or less" as robust as it is today and if OPEC and non-OPEC continued with their oil production cuts. (Reporting by Ahmad Ghaddar; Editing by Mark Potter)
Wärtsilä Launches Fuel-Saving Pre-Swirl Stator
EnergoFlow is a new energy saving solution that will return ship operators’ investment in less than two years, according to its developer Wärtsilä. By reducing the power losses which occur in the propeller’s slipstream with an optimised inflow, Wärtsilä’s solution improves fuel efficiency by up to 10 percent. The technology group Wärtsilä launches the newest solution in its propulsion efficiency portfolio during November. The product will be introduced at the Europort event in Rotterdam, the Netherlands, on Tuesday, November 7.
WWEA, IWSA to Promote Uptake of Wind Technology in Ships
The World Wind Energy Association (WWEA) has today announced a key strategic partnership with the International Windship Association (IWSA) in order to further promote the uptake of wind technology by the global shipping fleet. WWEA is a not-for-profit organisation with over 600-member organisations across 100 countries. The Association promotes the deployment of wind energy technology around the world, and, as founding member of the REN Alliance and the Global100%RE Platform, is working towards full substitution of all polluting and hazardous waste causing energies.
Deal for Floating LNG Powerplant in China
As the proliferation of LNG use spreads rapidly in the maritime and energy sectors, word from China is that Wison Offshore & Marine has signed an MoU with Shanghai Electric Power Generation Group, on a joint effrot to develop medium to large-scale floating LNG power generation barges. Wison brings a wealth of experience and integration capability in floating LNG facilities, while Shanghai Electric is a leader in core gas power equipment and EPC services for international power projects. Based on the Floating LNG Storage Regasification and Power Generation (FSRP) solution developed by Wison earlier on, both parties will join forces to build up capabilities throughout FSRP project life cycle from product development…
Oil Prices Rise on Supply Cuts, Tensions
Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia. Brent crude oil was up 59 cents or 0.9 percent to $64.08 a barrel by 11:30 a.m. (1630), still close to Tuesday's intra-day high of $64.65, which was the highest since June 2015. U.S. light crude was up 46 cents or 0.8 percent at $57.27, just shy of this week's more than two-year high of $57.69 a barrel. Saudi Arabia plans to cut its crude exports by 120…
Teekay’s New Shuttle Tanker Delivered
Teekay Offshore said it has taken delivery of Beothuk Spirit, the first of three new shuttle tankers to serve East Coast Canada, built in Korea by Samsung Heavy Industries. Heritage Class sister vessels Norse Spirit and Dorset Spirit are scheduled for delivery in the first half of November 2017 and early-2018 respectively. The three Suezmax, DP2 shuttle tankers will provide crude transportation services to the Hibernia, Terra Nova, White Rose and Hebron offshore oil fields located in St. John’s, Newfoundland & Labrador.
Inspection Training for Cleaner Shipping
Inspection training for Port State Control Officers in South and Central America is underway at an International Maritime Organization (IMO) workshop in Buenos Aires, Argentina (6-8 November). There are participants from: Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama and Uruguay. Port State Control is the process, supported by IMO, by which officials in ports can board visiting foreign-flagged vessels to verify compliance with international safety and pollution standards.
Royal Caribbean Takes the Lead on Fuel Cell Tech
As the maritime world rapidly evolves to incorporate increasingly clean and efficient power sources onboard ships at sea, the cruise industry is emerging as a clear leader in the sector, driven by the high-profile nature of its ships and the often pristine environments to which they traverse. With that, ABB announced that it will deliver the first fuel cell system to Royal Caribbean, a pilot program in which the RCL ship will be the world's first fuel cell system on a luxury cruise ship.
Technology Cooperation for Low-Carbon Shipping
The Global MTTC Network (GMN) maritime technology project, run by International Maritime Organization (IMO) and funded by the European Union, was presented during a side-event (10 November) at the UN climate change conference in Bonn, Germany (COP 23). The project established a network of five regional Maritime Technology Cooperation Centres (MTCCs). Representatives of the European Union, IMO, MTCC-Caribbean and MTCC-Pacific participated at the event. MTCCs updated the audience on their pilot projects, including data collection on fuel oil consumption on ships.
IMO Updates COP23 on Climate Change Work
The progress made in starting to shape a draft comprehensive International Maritime Organization (IMO) strategy on reduction of GHG emissions from ships has been reported to the COP 23 climate change conference, meeting in Bonn, Germany (6-15 November) by IMO’s Stefan Micallef. He reported that more than 2,600 ocean-going ships have now been certified to the mandatory energy efficiency design requirements, which have been in force since 2013. The significant global reduction…
Asian Floating Storage Declines as Crude Market Tightens
Strong demand is tightening the market but rising US output could sap efforts to rebalance market. The amount of oil stored on tankers around Singapore has dropped sharply in the last months, the latest indication that OPEC-led supply cuts are successfully tightening crude markets even as U.S. exports have soared. Shipping data in Thomson Reuters Eikon shows around 15 super-tankers are currently filled with oil in waters off Singapore and western Malaysia, storing around 30 million barrels of crude.
Rolls-Royce Debuts Cloud-based Energy Management Module
Rolls-Royce has unveiled a ‘cloud-based’ fuel consumption and carbon dioxide monitoring module designed to help ship owners meet the European Union’s Monitoring, Reporting and Verification (MRV) regulation. Starting January 1, 2018, collection and reporting of voyage data will become a mandatory, as owners of vessels over 5,000 gross metric tons that call at European Union ports will be required to monitor, report and verify their fuel consumption and CO2 emissions. China, too…
Engines Selected for CMA CGM’s LNG Mega Ships
WinGD X-DF engines will power CMA CGM’s record setting containerships. French shipping line CMA CGM has chosen WinGD’s largest, 92 cm bore, dual-fuel low-speed engine to power its series of groundbreaking box ships – presently the largest on order globally, and the first ultra large container vessels with capable of running on liquefied natural gas (LNG). The series of nine ultra-large 22,000 TEU capacity containerships will be built at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.
Port Corpus Christi to benefit from LNG partnership with China
Port Corpus Christi officials are confident that the agreement signed between Cheniere Energy of Houston and China National Petroleum Corporation (CNPC) will bring increased traffic to the port, according to the San Antonio Business Journal. Officials from Cheniere accompanies President Trump on his tour to China and signed a Memorandum of Understanding with the Chinese company. CNPC is the largest gas and oil supplier and producer in China and is also one of the largest providers of oilfied services.
TEN Completes Fleet Expansion
Tsakos Energy Navigation Ltd (TEN) has reported the delivery of the ice-class Aframax tanker Bergen TS, the last in the 15-vessel, pre-employed on long-term business, growth program, which increased the size of TEN's fleet by 30 percent over the last 18 months. With 65 vessels fully operational, the fleet's minimum revenue backlog comes to $1.3 billion with average contract duration of 2.5 years. "With the largest growth in the company's history, successfully and timely completed, TEN is well positioned to take advantage of market opportunities as they will appear," Nikolas P.
Boskalis Expanding Subsea
Royal Boskalis Westminster N.V. (Boskalis) is set to expand its market position in the area of subsea services, according to its Corporate Business Plan 2017-2019. "In a persistently challenging market there tend to be interesting opportunities for anti-cyclical investments in companies or equipment that will result in Boskalis being well-positioned when end-markets recover again," it says. In mid-August Boskalis acquired subsea survey specialist Gardline, and the group recently…
Keel Laid for First Virgin Voyages Ship
A keel laying ceremony was held at Fincantieri’s Sestri Ponente shipyard in Genoa, Italy for the first of three new cruise ships to be built for the Virgin Group’s new cruise line arm Virgin Voyages. The ceremony was attended by Richard Branson, founder of Virgin; Tom McAlpin, President and CEO of Virgin Voyages; Alberto Maestrini, Fincantieri General Manager; Giovanni Toti, President of the Liguria Region; Marco Bucci, the mayor of Genoa; and other authorities. Each of the new ships will weigh about 110…
Busan Port Aims for Top-notch Eco-friendly Port
To this end, BPA plans to convert 5 conventional RTGC into fully electric RTGs (E-RTGC) by the end of this year and will convert 85 more RTGC equipment. The e-RTGC conversion project is conducted by BPA and Busan Port Terminal Corp. BPA will cover the construction expenses for infrastructures at Gamman Pier 2,3,4 berth to provide electricity and BPT will pay for the equipment renovation.