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Friday, August 17, 2018

Energy News

Oil Companies Make Few Bids in US Offshore Lease Auction

© flyingrussian / Adobe Stock

Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing tepid interest in the region for the second time this year.Oil giant Exxon Mobil Corp was awarded 25 blocks, the largest of any company, followed by BP Plc with 19 high bids and Hess Corp and Equinor, which each had 16.Smaller companies, including Talos Energy Offshore, Houston Energy and W&T Offshore were among the top ten high bidders. In total, 23 companies bid in the U.S.

Signs of Recovery in the US Gulf of Mexico

© Theerapong / Adobe Stock

Today's U.S. auction of Gulf of Mexico exploration leases drew tepid response from oil companies, but marked notable progress for an industry still in a state of recovery.“While not a barn burner, Lease Sale 251 tops the previous Gulf sale in terms of increased participation, increased competition for offerings, and bid amounts,” said Randall Luthi, president of the National Ocean Industries Association (NOIA). “In addition, bidding activity demonstrates both continued interest in deepwater tracts and renewed interest in shallow water tracts.”Luthi continued…

Yang Ming Orders Ten 2,800 TEU Containerships

File Image: Yang Ming Marine Trans

Yang Ming Marine Transport Corp. (Yang Ming) signed a contract with CSBC CORPORATION, TAIWAN (CSBC) for the construction of a total of ten 2,800 TEU class full container vessels. The contract was signed by Yang Ming’s Chairman Bronson Hsieh and CSBC’s Chairman Cheng Wen-Lon.The new ships are due for delivery starting in the second quarter of 2020 and will help to meet the future demand for medium and long-term vessel deployments, and improve competitiveness, Yang Ming said.In the meantime…

Swiss Utility in Talks to Buy LNG from Canada's Goldboro Project

File Image: Credit QGTC

Axpo, a Swiss utility and energy trader, said on Thursday it was in talks for a 10-year supply deal with a Canadian company planning to build a liquefied natural gas (LNG) terminal.A sales and purchase agreement would boost the chances that Pieridae Energy would decide to build the C$10 billion ($7.6 billion) Goldboro project, which would be the first LNG export terminal on Canada's East Coast.Canada is rich in oil and gas but has yet to export major shipments of LNG to Asia from its West Coast or across the Atlantic from its East Coast."Under the term sheet with Pieridae Energy…

British Ports Association Launches Sustainable Development Resolution

Image: Associated British Ports

The British Ports Association has published a sustainable development resolution, which commits to supporting the dual aims of a strong and healthy environment and a thriving economy.The BPA represents 350 ports, terminals and port facilities across the UK. UK Ports handle 95% of the UK’s international trade, keeping goods moving in an efficient manner that underpins the UK’s economy. The industry is also highly productive and employs over 101,000 people.Ports are often hubs of regional economic activity and support a wide range of industries including energy…

Shipbuilding: “We had shipyard for dinner …”

Brothers and co-presidents Peter Duclos (left) and John Duclos flank sister Carol Hegarty, CFO. Photo: Greg Trauthwein

The Duclos family is iconic in boatbuilding circles, as the Somerset, Mass.-based Gladding-Hearn, Duclos Corporation, has built a strong heritage in the pilot boat and fast ferry sectors, and in total more than 425 vessels have been delivered since it was founded in 1955. Today a trio of second-generation siblings run the yard, brothers and co-presidents John and Peter Duclos with sister Carol Hegarty serving as CFO. Maritime Reporter & Engineering News visited the yard recently…

Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations

(File photo: Shell)

A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them.The U.S. Gulf of Mexico has faced waning interest in recent years as competition stepped up from other basins globally, as well as from onshore shale basins and Mexico's waters in the Gulf.Oil companies had lobbied for lower royalty payments for deepwater acreage because of the projects' high cost and long lead time before production can begin.

Venezuela's Crude Sales to U.S. Fall in July

Venezuela's crude exports to the United States declined to 494,400 barrels per day (bpd) in July after rising the prior three months, showing the impact of asset seizures against state-run oil firm PDVSA, according to Thomson Reuters data.July was the first month crude exports fell below 500,000 bpd since the months of January through March.U.S. oil producer ConocoPhillips in May began seizing PDVSA's overseas assets in an attempt to collect on a $2 billion arbitration award.

EMEC Metocean Data to Stimulate Inovation

Waverider buoy at sea. Image: EMEC

The European Marine Energy Centre (EMEC) has provided a series of metocean data sets to be used in a new Scottish open innovation competition aiming to stimulate creative thinking and data science to design new data products for the benefit of the marine environment, communities and economy.Organized by Highlands and Islands Enterprise (HIE) and the Data Lab, Scotland’s Blue Growth Data Challenge will make available data sets from 2015 in-situ observations and numerical modelling…

Enestas Boosts SEA\LNG’s Presence in Americas

Image: SEA\LNG

SEA\LNG, the multi-sector industry coalition aiming to accelerate the widespread adoption of liquefied natural gas (LNG) as a marine fuel, announced that it has welcomed Mexico-based LNG company Enestas to its membership coalition.With the addition of Enestas, the SEA\LNG coalition bolsters its efforts to drive forward LNG as a marine fuel, and to progress its vital role as a viable solution in the energy transition within shipping.As the largest private LNG company in Mexico and with the largest LNG distribution network…

Global FPSO Market to Exceed USD 115 bln by 2024.

Image: BW Offshore

Global FPSO Market is anticipated to witness growth of 19% and exceed USD 115 billion by 2024. Rising demand of hydrocarbons and increase drilling activities for exploration and production will drive the industry growth.Increase in the conversion of vessel to FPSO to augment the productivity and minimize the capital expenditure may complement the business growth, said a report from Global Market Insights.Converted FPSO market is witnessed to grow over 18%. Comparison with new built…

More Ships Adding Scrubbers ahead of 2020

© Stockninja / Adobe Stock

An increase in the number of ships adding cleaning systems to their smokestacks will mean vessels will continue to burn a sizable amount of fuel oil once new sulphur regulations for the fuel go into effect, Vienna-based consultancy JBC Energy said on Tuesday.Ships installed with exhaust gas cleaning systems, known as scrubbers, are expected to burn 600,000 barrels per day (bpd) of high-sulphur fuel oil (HSFO) in 2020 when the new rules from the International Maritime Organization (IMO) start…

Baleària Acquires Visemar One

Image: Baleària

Spanish ferry company Baleària has decided to buy Visemar One, a 2010-built RoRo/passenger ship which has been part of the company’s fleet for seven years."Baleària has just invested close to 55 million euros (USD 62.4 mln) in the acquisition of the vessel Visemar One , which has been sailing for the company for seven years. With this purchase, the fleet of boats owned by Baleària reaches 26 units out of a total of 30," said a press release from the company.The ferry Visemar One was launched by the company in 2011 on the Barcelona-Palma route, and currently operates between València and Palma.

Heijermans Joins Boskalis Management Board

Bart Heijermans (Photo: Boskalis)

During today's Extraordinary General Meeting of Shareholders, Bart Heijermans was appointed to the Board of Management of Royal Boskalis Westminster N.V. for a term until the Annual General Meeting of Shareholders in 2022.Heijermans will be responsible for the company’s offshore energy division, effective September 1, 2018.Heijermans brings to the board extensive experience in the offshore industry, having recently served as CEO and board member of subsea services provider DeepOcean.

Rolls-Royce Launches Battery System for Ships

Jens Hjorteset (right) is the Technical Product Manager for SAVe Energy. Erling Johannesen (left) is the Site Manager at Rolls-Royce Power Electric Systems department in Bergen, Norway. (Photo: Øystein Klakegg/Rolls-Royce Marine)

Rolls-Royce has been delivering energy storage systems for ships since 2010, but the actual energy storage units were previously supplied by an external party. The company announced today it is launching its own lithium-ion based energy storage system.Energy storage can be a major green investment for a ship owner, with maximized returns when the system is correctly dimensioned for the specific ship, and includes intelligent power control.Rolls-Royce said its new SAVe Energy liquid cooled battery system is cost competitive…

Boskalis Rethinks Loss-making Transport Operations

(Photo: Boskalis)

Boskalis will terminate loss-making transport activities at its offshore energy division, the Dutch marine and engineering company said on Thursday after posting lower than expected first-half earnings.A resulting one-off charge of 397 million euros ($451.6 million) pushed Boskalis to a net loss of 361.4 million euros, compared with a profit of 75.1 million euros in the first half of 2017. The consensus forecast in a company-compiled poll of analysts was for a profit of 60 million euros.The company aims to position the business at more lucrative areas of the transport and installation market…

New Fuel Rules Push Shipowners to Go Green with LNG

El Coquí, one of the world’s first ConRos powered by LNG (Photo: Crowley)

Tough new rules on marine fuel are forcing shipowners to explore liquefied natural gas as a cleaner alternative and ports such as Gibraltar are preparing to offer upgraded refueling facilities in the shipping industry's biggest shake-up in decades.From 2020, International Maritime Organization rules will ban ships from using fuels with a sulphur content above 0.5 percent, compared with 3.5 percent now, unless they are equipped to clean up sulphur emissions. This will be enforced…

Maersk Signs on to Help Clean up Ocean Plastic

Maersk Launcher (Photo: Maersk Supply Service)

Offshore services provider Maersk Supply Service has signed onto a project that aims to collect tons of plastic waste littering the world's oceans.In the comping months, the Denmark based firm will provide marine support to the Dutch nonprofit The Ocean Cleanup, which will install its first cleanup system in the North Pacific as part of the planet’s first large-scale initiative for collection of floating ocean-plastic debris.Global plastic production has risen steadily since the 1950s. It is estimated that more than 5 trillion pieces of plastic waste now litter all major ocean basins.

Royston Bringing Advanced Monitoring Tech to SMM

(Image: Royston)

Advanced fuel monitoring and energy management technology, designed to deliver significant cost benefits for vessel operators, will be among the key attractions on the Royston diesel power SMM stand.Royston, an internationally based company operating in the global maritime sector for over 40 years, is an authorized representative for Niigata, GE, Yanmar, Volvo Penta, Scania, Napier Turbochargers.With bases in the U.K., Australia and West Africa, it works closely with customer fleets carrying out engine replacement or maintenance…

Hapag-Lloyd Adds 11,100 Reefer Containers

Image: Hapag-Lloyd

Hapag-Lloyd is investing in its container fleet and has ordered 11,100 state-of-the-art reefer containers. The new containers will be integrated to the company’s existing fleet of 91,000 reefer containers, with delivery gradually starting in August and to be finally completed by December 2018.Already today, Hapag-Lloyd has a significant footprint in the refrigerated container market and the company has continuously invested in new reefer equipment throughout the past years and also renewed a significant share of its fleet.Since 2015 alone and including the most recent order…

Shipbuilding: Oman Drydock CEO Aims to Triple Revenue by 2021

"I’m looking for go-getters. I’m looking (for the types of people) from the ‘wild west’ bars, the kind that kick the doors open with their boots and get to work."
Said bin Homoud Al Maawali, CEO, Oman Drydock Company (ODC). Photo: ODC

Said bin Homoud Al Maawali, CEO, Oman Drydock Company (ODC) means business when he aims to triple revenue by 2021, but it’s anything but business-as-usual at ODC. A neophyte to the shipyard world, he is a veteran business man with a long resume in multiple industries, a turnaround specialist. He sees potential at ODC, but bigger picture, he sees the shipyard as a means to help Oman broaden its business and revenues outside of the traditional energy industry.As the global shipbuilding community shakes off a historic slump, new thinking is creeping into a space steeped in tradition.

Green Shipping: Toward a Clean Future

Photo: SMM

The International Maritime Organization (IMO) has announced its targets of cutting greenhouse gas emissions from global shipping in half by the year 2050, and to make ships entirely CO2-neutral before 2100. But long before that, the so-called sulphur cap will take effect: From 2020 all oceangoing ships must run on fuel that contains no more than 0.5 per cent of sulphur. According to estimates by classification society DNV GL, up to 70,000 ships will be subject to this requirement.

Kongsberg to Power Grimaldi’s Nine New RoRos

Image courtesy of Knud E. Hansen

Kongsberg Maritime said it has been awarded contracts with Chinese shipbuilder Nanjing Jinling Shipyard Co. to deliver power and hybrid systems to nine Roll on – Roll off (Ro-Ro) vessels ordered by Grimaldi Group, Italy. The contracts are valued at more than NOK 400 million ($47 million) and include an option for three additional vessels increasing the total value to more than NOK 500 Million ($59 million).Due for delivery from 2020, the new vessels will be 238 meters long, with a beam of 34 meters and gross tonnage of 64,000 tons.

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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