Fuel Market Calm ahead of IMO Changeover
Fears about a shortage of diesel and other middle distillates stemming from new marine pollution regulations have receded, with distillate premiums falling to some of the lowest levels for two years.From the start of 2020, ocean-going ships will be required to use low-sulphur fuels or employ exhaust gas cleaning systems, known has scrubbers, under pollution control rules approved by the International Maritime Organization (IMO).Fuel traders and shipowners have warned for several…
Ship Insurance Costs Soar After Tanker Attacks
Insurance costs for ships sailing through the Middle East have increased by at least 10% after attacks on two tankers in the Gulf of Oman on Thursday, with the potential for costs to rise further as regional tensions escalate, ship insurers said.The attacks have already stoked concerns about reduced flows of crude oil on one of the world's key shipping routes, pushing up oil prices by as much as 4.5%.Some tanker companies have already suspended new bookings to the Middle East…
OP/ED: Structuring Infrastructure
The Inland Waterways View.At the start of any new year, we are often asked what our challenges will be or what we are going to do differently in the year ahead. However, in 2019, just like each year since Waterways Council, Inc. (WCI) was founded in 2003, we intend to stay the course to advocate for full and efficient funding for the U.S. Army Corps of Engineers to continue its Civil Works mission to construct and maintain navigation projects on the inland waterways.The Corps’…
HHLA Support Energy Transition
German logistics and transportation company Hamburger Hafen und Logistik AG (HHLA) and its partners began research and development work on the publicly funded FRESH project at its Container Terminal Altenwerder (CTA).FRESH stands for flexibility management and control reserve provision of heavy goods vehicles in the harbour, said the firm which operates three container terminals at the Port of Hamburg: Altenwerder, Burchardkai and Tollerort, as well as cargo handling and transport services by rail…
Saudi Aramco, ADNOC to Cooperate on LNG
The state-owned energy giants of Saudi Arabia and the United Arab Emirates, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), signed a cooperation deal to explore potential areas for mutual collaboration in the LNG value chain aimed at bolstering gas production and revenue.The Saudi Arabian national petroleum and natural gas company based in Dhahran said in a press release that it has signed a framework agreement with ADNOC to explore opportunities for collaboration in…
Op/Ed: ASTRO Act Shoots For the Stars
National Ocean Industries Association (NOIA) president Randall Luthi weighs in after the House Natural Resources Committee held a hearing on offshore development and introduced the Accessing Strategy Resources Offshore (ASTRO) Act. Today’s hearing was a slam dunk by the House Natural Resources Committee. Not only did the Committee bring in experts and stakeholders with their own unique offshore perspectives to the hearing, the Committee took a bold step in introducing the forward thinking ASTRO Act.
U.S. GoM Energy Producers Evacuating Ahead of T/S Nate
Oil and natural gas producers began evacuating staff at U.S. Gulf of Mexico platforms on Thursday ahead of Tropical Storm Nate, the second storm in as many months to threaten Gulf Coast oil and refining facilities. Nate, which has already killed three people in Costa Rica, according to local authorities, is forecast to scrape past Honduras and Mexico, enter the Gulf and strengthen into a hurricane before making landfall early on Sunday in Louisiana, near several major refineries.
Russia Wants to Sell Sovcomflot to Small-stake Investors
Russia plans to sell part of state shipping firm Sovcomflot next month, hoping to draw in a wide range of small-stake investors rather than a strategic buyer who could threaten Moscow's control of the group, banking and industry sources say. The current era of low tanker market prices is far from the ideal time for Sovcomflot to raise revenue with a share offer, as freight rates were at their highs in 2015. Sovcomflot operates the world's second largest fleet of oil tankers. But…
ExxonMobil inks patent agreement with Pason Systems
ExxonMobil has awarded to Pason Systems, Inc. the first global license of its patented Drilling Advisory System, a key component of the company’s Fast Drill technology suite. The licensing agreement accelerates the technology’s commercialization by combining Pason’s expertise in drilling data and ExxonMobil’s experience in drilling surveillance and optimization. Fast Drill combines high-end modeling of drilling physics with structured well planning and design to identify limiters and maximize performance.
Ship Operator Toisa Files for Bankruptcy
Shipping company Toisa Ltd filed for U.S. Chapter 11 bankruptcy as falling demand for the Bermuda-chartered company's oil-and-gas supply vessels left it running short of cash, according to court documents. Toisa, owned by Greek shipping magnate Gregory Callimanopulos, has a global fleet of 26 offshore oil service vessels, 13 tankers and seven bulk ships, according to documents filed with the U.S. Bankruptcy Court in Manhattan. The ship operator said it had more than $1 billion in debt in court documents.
U.S. Refiners Cash in on Mexico's Record Imports
U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico, shipping record volumes to a southern neighbor that has failed to expand its refining network to supply a fast-growing economy. The fuel trade could top a million barrels per day (bpd) at times in 2017 as Mexico becomes increasingly dependent on the United States for strategic energy supplies and providing business worth more than $15 billion a year to refiners such as Valero, Marathon Petroleum and Citgo Petroleum.
Canada Oil Sands Asia Export Dream Faces Port Bottleneck
The bullish view for Suncor Energy Inc (SU.TO), Cenovus Energy Inc (CVE.TO) and other Canadian energy producers calls for Prime Minister Justin Trudeau by next month to approve a major pipeline expansion to the west coast, boosting sales of land-locked oil sands crude to Asia. But a growing number of shipping brokers and physical oil traders warn that any new influx of oil will hit a bottleneck in Vancouver, because of the port's inability to accept the megaships that dominate oil trade globally. This bottleneck marks one of the more under appreciated hurdles facing Canadian oil sands crude being shipped from its busiest port of Vancouver, these shipping brokers say. Middle Eastern producers already ship oil ship to Asia far more cheaply, thanks to the bigger vessels they employ. And U.S.
DNV GL Commissions OVRT Test Unit for Wind Turbines
DNV GL adds to its service offering offers in the field of electrical measurement for renewable energy producers with a mobile test laboratory for carrying out “Over Voltage Ride Through” (OVRT) tests. The first measurements have now been successfully started for a major German wind turbine manufacturer at the North German wind turbine test facility Janneby. Further projects have already been commissioned by some well-known turbine manufacturers. The test unit is designed for use in the medium voltage grid, implementing the topology suggested in the relevant standards.
Lithuania Mulls LNG Exports
Domestic glut prompts Lithuania government to consider selling-off surplus gas supplies, reports Reuters. Lithuanian LNG importer Litgas could be about to start re-exporting LNG bought. Lithuania opened an LNG import terminal in 2014 and started exporting natural gas to neighbouring Estonia earlier this year, breaking the supply monopoly of Gazprom. The Ministry of Energy forecasts that, in 2016, the required gas amount in the terminal will exceed the total LNG demand of regulated energy producers.
Bulgaria Orders Green Energy Producers to Cut Output by 60%
Bulgaria's power grid operator ordered all renewable energy producers on Sunday to reduce their output by 60 percent in an attempt to balance production and consumption in the Balkan country, the state-owned company said. The grid operator has already imposed output cuts on thermal power plants in the coal-fired Maritsa East complex and on Bulgaria's nuclear plant due to low domestic consumption and weak demand for power exports in the region. Reductions similar to the renewable energy cut have been imposed several times since late May.
US River Infrastructure Near breaking Point
With a record U.S. harvest just coming in, the river transportation system that is at the heart of the nation's farm economy is overstrained by rising demand for shipping capacity, a low barge inventory, and a dilapidated lock system. The pressure is building on an inland waterways network that is just one flood, drought or mechanical breakdown from calamity after decades of neglect, industry sources say. Looming bumper corn and soybean crops are bringing to light issues that have built for years and which have been exacerbated by new entrants to the marketplace for river logistics…
US River Freight System Near Breaking Point as Huge Harvest Looms
With a record U.S. harvest just coming in, the river transportation system that is at the heart of the nation's farm economy is overstrained by rising demand for shipping capacity, a low barge inventory, and a dilapidated lock system. The pressure is building on an inland waterways network that is just one flood, drought or mechanical breakdown from calamity after decades of neglect, industry sources say. Looming bumper corn and soybean crops are bringing to light issues that have built for years and which have been exacerbated by new entrants to the marketplace for river logistics, such as producers of crude oil from the nation's shale boom. Rail congestion and truck shortages are shifting more cargo to the creaking infrastructure for floating heartland goods to market.
FLNG Prelude: A New Dawn in the Age of Maritime & Energy
Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting, game-changing floating liquid natural gas (FLNG) facility will serve as a prelude to a killing in the offshore LNG market. It’s not alone. Many industry observers believe FLNG will do for gas offshore what fracking has done for shale or natural gas trapped in the ground on shore. “This is revolutionary technology …[that]… has the potential to change the way we produce natural gas…
Eniram Launches New Optimization Product for LNG Sector
Eniram Limited, a provider of energy management technology and data analytic services to the shipping industry, announced an advanced fuel-saving product based on the Eniram vessel platform. • Collection of the most critical data for LNG operators and owners such as boil-off and reliquification plant efficiency. • Offers the possibility for onshore analyses of one vessel, as well as the possibility to compare the energy management performance on several vessels or on the entire ﬂeet. • Constant performance evaluation.
U.S. Lawmakers Say Latest Russia Sanctions Too Mild, To Seek More
Senior U.S. Republican lawmakers said on Monday the latest sanctions imposed on Russian individuals and companies are too mild to deter Moscow from further action in Ukraine and promised to offer legislation as soon as this week to pressure the Obama administration to take stronger action. Tennessee Senator Bob Corker, the top Republican on the Senate Foreign Relations Committee, who earlier this month visited Ukraine and neighboring countries, called the new sanctions "just a slap on the wrist," and said it was time for measures that would affect the Russian economy.
Obama Stalls Drilling On Federal Lands: Kemp
The White House likes to claim a share of the credit for the drilling revolution that has transformed North America's energy production and security. Except the revolution has largely taken place on private rather than public land, and energy producers feel frustrated about the numerous obstacles and long delays in obtaining permission to drill in areas directly controlled by the administration. "Crude oil production has grown each year President Barack Obama has been in office to its highest level in 17 years," the Council of Economic Advisors wrote back in the summer of 2013.
U.S. Offshore Energy: NOIA Responds to State of the Union Address
“The President continues to take credit for the surge in domestic oil and natural gas production when the fact is almost all of the increase came from private and state, not federal, lands. The President spoke again about the need for more jobs. Yet his Administration continues to block expanded domestic offshore energy production on the 85 percent of the Outer Continental Shelf that remains off limits for political reasons, even though developing those areas would usher in an economic renaissance…
Remote Well Sites Spur KVH TracPhone Demand
KVH Industries, Inc. report that demand for broadband connectivity is increasing among service providers in the oil and gas industry. KVH's exclusive mini-VSAT Broadband service is delivered by an interlaced network of 14 Ku-band satellite transponders providing seamless worldwide coverage north of the equator and around all major continents, including most major shipping routes south of the equator. The manufacturers say that they are meeting the demand for reliable, mobile…