Marine Link
Friday, June 22, 2018

Energy Markets News

What's next from Maritime Reporter TV?

Jim McCaul, founder of International Maritime Associates, and Greg Trauthwein, Editor, Maritime Reporter & Engineering News (Photo: Eric Haun)

Jim McCaul, founder of International Maritime Associates, sat with Maritime Reporter TV's Greg Trauthwein in Washington, D.C. to discuss key market trends affecting the global energy and maritime sectors. With inimitable insight, McCaul offers a candid look into the state of U.S. shipbuilding, the condition of the floating production industry, potential for an energy sector rebound, and the incoming Trump administration. In the first segment, McCaul identifies signs of hope within the global energy markets and provides an update on the state of floating production.

Wärtsilä joins battle against ocean plastics

Seabin prototype V4 Photo Wartsila

The Finnish technology group Wärtsilä has signed an agreement with the Seabin Project to join their global pilot programme, which addresses the worldwide littering problem affecting our oceans. The project aims at approaching the challenge from multiple angles with a key emphasis on education, research and technology. Wärtsilä will work in cooperation with Seabin Project for the next three years and has sponsored both the city and port of Helsinki's involvement with the programme.

Wilhelmsen Watching Cruise and Energy Markets

“While the shape of the shipping industry in North America is fairly stable, we are expecting more global demand for our services from our cruise and offshore customers,” comments Philip Bannerman, Sales Director for Wilhelmsen Ships Service in the Americas. Bannerman, who is based at the company’s Houston, Texas office, also believes that Mexico has more potential for development. Commenting on the overall health of the ships agency business in North America, he says, “The traditional shipping market is perhaps more ‘mature’ than in other parts of the world…

Energy Island: Europeans Mull North Sea Hub

Image: TenneT

A plan set in motion by three European transmission system operators (TSO) aims to develop mammoth offshore wind farm infrastructure in the North Sea supported by at least one manmade island. First unveiled in June 2016, plans for the North Sea Wind Power Hub project will now press ahead to develop a large offshore renewable European electricity system following the signing of a trilateral agreement by TenneT TSO B.V. (Netherlands), Energinet.dk (Denmark) and TenneT TSO GmbH (Germany) in Brussels on March 23, 2017.

Lloyd's Register: Maritime Grows in the Americas

Mark Darley (Photo: Lloyd's Register)

As the global maritime market remains mired in a slump, Lloyd’s Register continues to expand rapidly in the Americas market where it sees green fields of opportunity. Mark Darley, President—Americas Marine for LR, recently sat with Maritime Reporter & Engineering News to explain the strategy to conduct business over a broader range of segments and services and grow LR’s presence in the Americas. Mark Darley, President—Americas Marine for Lloyd’s Register is an industry veteran with nearly two decades of maritime experience under his belt…

CEJN to Host Energy Market-Hydraulics Symposium

CEJN, a producer of quick connect high-pressure hydraulics products, will host a complimentary informative, educational event focused on ultra high-pressure hydraulics and the energy market on August 23-24, 2017 in Houston. For more information and to register, visit www.cejn.us/Symposium; contact by phone: 1-847-263-7200 or by email: customer.service.usa@cejn.com. Registration is required, and seating is limited.

US to be World's Biggest LNG Exporter by 2022

Pic: Shell

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.

Qatar to Maintain Dominance in Global LNG Market

Photo: Qatargas Operating Company Limited

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…

Energy Markets Buoy U.S. Shipbuilding

McAllister Towing marks its 150th anniversary this year, and the company’s fleet includes more than 75 tugs serving the U.S. East Coast from Maine down to Puerto Rico. Pictured are Buckley McAllister, President; Brian McAllister, Chairman; and Eric McAllister, Chief Operating Officer.

Proliferation of energy related transport continues to drive commercial U.S. As the United States aims towards energy independence by the end of this decade, domestic shipyards and vessels owners are reaping rewards from this most unexpected turn of events. Hydraulic Fracturing, or fracking, has been the main (and well publicized) culprit in the rapid turn of events. While the proliferation of gas has been widely known for years, the presence of oil, in quantity, was a pleasant…

Keppel Wins SBM FPSO Conversion Deal

As energy markets start to rebound, Keppel Shipyard Ltd. secured a Floating Production Storage and Offloading vessel (FPSO) conversion contract from  SBM Offshore N.V. (SBM Offshore). The contract calls for a VLCC to be converted into an FPSO, to be deployed to the Liza field, located approximately 193km offshore Guyana in the Stabroek block. The shipyard's work scope includes refurbishment and life extension works, such as the upgrading of living quarters, fabrication and installation of spread mooring systems, as well as the installation and integration of topside modules. The converted FPSO will have a storage capacity of 1.6 million barrels of crude oil and is capable of producing up to 120,000 barrels of oil per day.

LNG: Did the Greeks Get it Wrong?

Graph: Alibra

In December 2013, Alibra’s market report front page read: “When in shipping, do as the Greeks do.” At that time, Alibra was referring to the fact that 31% of the LNG carrier orderbook had been ordered by Greek owners. Billions of dollars in CAPEX were being pumped into natural gas exploration, as well as building infrastructure such as liquefaction and export terminals, especially in the US. Some 180 LNG carriers were ordered between January 2011 to December 2014 – many of them speculatively. Of these vessels, 52 were ordered by Greek companies (29%).

Inmarsat Returns to Revenue Growth in Q2

British satellite operator Inmarsat reported a rise in revenue in the second quarter, more than reversing a dip in the first quarter, as its customers used its broadband terminals to improve efficiency in tough shipping and energy markets. The company reported a 6 percent rise in second-quarter revenue to $330.4 million and a 22 percent rise in core earnings to $202.2 million on Thursday, and reiterated its target for full-year revenue. "It a very solid performance, despite the market being quite challenging," Chief Executive Rupert Pearce said in an interview on Thursday. Shares in Inmarsat, which have languished since it downgraded its full-year revenue forecast range by $50 million to $1.175-$1.250 billion in May, were trading up 1.6 percent at 793 pence by 0817 GMT.

Gasum, Wärtsilä Join Forces to develop Gas Value Chain

Gasum CEO Johanna Lamminen and Wärtsilä CEO Jaakko Eskola. Source Gasum

New joint co-operation between Gasum and Wärtsilä aims to develop the utilization and distribution of natural energy gases in marine and land markets. Gasum, the Nordic leader in natural gases and Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets have signed a Joint Co-operation Agreement aimed at developing the utilization and distribution of natural energy gases in marine and land markets. The agreement between Gasum and Wärtsilä was signed August 29, 2016 and will run for several years.

US Invests $18.5 Mln in Offshore Wind Research

© Björn Wylezich / Adobe Stock

U.S. Secretary of Energy Rick Perry announced $18.5 million in new Department of Energy (DOE) funding for a consortium that will conduct research aimed at reducing the cost of offshore wind in the U.S. As it seeks to capitalize on momentum in the offshore wind market, the U.S. still faces several challenges, such as deep water requiring floating foundations, the need for models predicting how Atlantic hurricanes will impact offshore turbines, and supply chain and operations and maintenance solutions to address the challenges of building and maintaining turbines at sea.

Amsterdam in ‘Premier League’ in Ethanol Market

Photo: Port of Amsterdam

Port of Amsterdam was included in the S&P Global Platts Top 250 Global Energy Company Rankings for ethanol in April 2016. In addition to giving Amsterdam’s ethanol market a tremendous boost, this has put the Port and Noord-Europees Wijnopslagbedrijf BV (NWB) on the map with several major players operating in this segment. However, Port of Amsterdam still trails somewhat behind Port of Rotterdam in this area, as the additional logistics expenses calculated for deliveries from Amsterdam work to the disadvantage of merchants storing their ethanol in Amsterdam.

Tanker Market: Electrifying Demand

Graphic: Gibson tanker report

Twenty years, the investment timeline to consider when ordering a new tanker, is a long time in any industry, not least in the rapidly evolving energy markets and the drive for cleaner fuels, says Gibson tanker report. Whilst, the collapse in oil prices in recent years may have taken the shine off many cleaner sources of energy (at least from a cost perspective) other pressures, mainly environmental, are likely to continue to influence energy consumption. In our industry, changes to bunker specifications will influence the type of fuels consumed…

IEA: Global Energy Investment Down 8% in 2015

While the plummet in energy spending should come as little surprise to anyone knowing anything about global maritime and energy markets, the International Energy Agency helped to put the precipitous drop in perspective, reporting that the global energy spend was down 8% in 2015. In a first-ever detailed analysis of investment across the global energy system, the International Energy Agency (IEA) said on Wednesday that global energy investment fell by 8% in 2015, with a drop in oil and gas upstream spending outweighing continued robust investment in renewables, electricity networks and energy efficiency. Total investment in the energy sector reached $1.8 trillion in 2015, down from $2 trillion in 2014, according to World Energy Investment 2016 (WEI 2016).

Thomas Miller Acquires Brookes Bell

Photo: Thomas Miller

UK-based international provider of insurance services Thomas Miller has acquired international marine consultancy business Brookes Bell for an undisclosed sum. Brookes Bell is a marine technical and surveying consultancy with offices in Liverpool, London, Glasgow, Shanghai, Hong Kong and Singapore. It has served the marine and energy industries since 1903, providing specialist services in areas including emergency response, casualty investigation, salvage and wreck removal operations, scientific cargo expertise, forensic engineering and expert witness services.

NuBlu: LNG Fueling Station in the GOM

NuBlu Energy has begun the construction of a natural gas liquefaction plant in Port Allen, LA, strategically located along the Mississippi River. NuBlu’s facility will support the region’s high-horsepower fueling applications such as rail, marine, long haul transportation, power generation, gas interruption, asphalt and other energy markets. The facility is slated to be operational and producing high-quality liquefied natural gas (LNG) in the second quarter of 2017. Total planned capacity of the facility is 90,000 gallons per day with an initial start-up capacity of 30,000 GPD. “This project represents the inauguration of a new direction for the LNG energy market.

North Carolina Ferries Change Course for the Future

Credit: NCDOT

Shoaling shifts NCDOT’s propulsion needs, prompting a sea change. Thrustmaster waterjets step in to carry the day. In Swansboro, N.C., boatbuilder U.S. Workboats (formerly Armstrong Marine) is assembling the linchpin of the North Carolina Department of Transport’s (NCDOT) business plan for its future Outer Banks ferry services. Separately, in both Hatteras and Ocracoke, crews are preparing to break ground on new parking additions and visitor facilities. The Ocracoke Express passenger…

ENGIE, Wärtsilä to Develop Small Scale LNG Markets

ENGIE has signed a Memorandum of Understanding (MoU) with Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets to develop solutions and services in the small scale LNG business. The cooperation covers four work streams: LNG for ships, LNG distribution in islands and remote areas, LNG to Power solutions and small scale LNG and bio liquefaction. Both ENGIE and Wärtsilä are committed to work for a low-carbon economy and shifting from coal or diesel towards LNG-solutions is an important step in the right direction. Through this partnership, both companies will share Wärtsilä’s technical expertise and Engineering Procurement and Construction capabilities and ENGIE’s technical expertise…

DNV GL Certificates Support Envision

Photo: DNV GL

DNV GL has issued full type certificates for Envision’s 2.3 MW turbine EN115-2.3. and 3.0 MW turbine EN120-3.0. This is an important milestone for the smart energy solution provider to compete in international wind energy markets. These certificates confirm that both turbines comply with all the requirements of the global IEC 61400-22 standard ensuring safety and reliability of wind turbines and wind farms. Due to large investments in the wind industry, financing banks, insurance companies and authorities require reliability and safety assessments of wind energy projects.

Genscape Increases US Inland Waterways Coverage

Photo: Genscape

Genscape, a provider of real-time data and intelligence for the global commodity and energy markets, has announced the complete integration of more than 400 terrestrial AIS antennas in North America, providing an unprecedented level of data accuracy and visibility into ship movements in the U.S. Genscape’s private monitoring network covers every commercial port in the U.S., and over 90 percent of U.S. inland waterways, including extensive coverage of key regions such as the Mississippi and Ohio Rivers, and the Gulf Coast.

Maritime Reporter Magazine Cover Jun 2018 - Green Marine Technology

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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