PAO Sovcomflot: Tanker Market is Challenging
PAO Sovcomflot (SCF Group) continued to increase the share of its fleet serving long-term energy projects over the first quarter ending 31 March 2018. This helped offset the negative impact of the protracted decline in freight rates that continues within the conventional tanker freight markets. Nikolay Kolesnikov, Executive Vice President and CFO of PAO Sovcomflot, commented on the quarter's results: "In the first quarter of 2018, conditions within the global conventional tanker market remained extremely challenging.
Interview: Mark Knoy, President and CEO, ACBL
American Commercial Barge Line (ACBL) named Mark K. Knoy as its president and chief executive officer in August 2011. Prior to joining ACBL, he was vice president of American Electric Power’s (AEP) Fuel, Emissions and Logistics Group and president of AEP River Operations, having joined AEP with its 2001 purchase of MEMCO Barge Line. From 1984 to 1994, he was owner/operator of The Mark Twain Towing Company and Delmar Marine, Inc., Pekin, Illinois. He began his career in 1973 working aboard towboats on the inland waterways as a deck hand and then as a captain.
Multraship Continues Fleet Growth
Towage and salvage specialist Multraship says it is continuing to grow its fleet with a number of new additions to its varied range of vessels.On July 7, the 453-gt firefighting tug Multratug 31 was christened at Terneuzen in the Netherlands. The 83-ton bollard-pull vessel was delivered in 2017.Multraship managing director, Leendert Muller, said, “We are operating in a highly competitive market, employing all our resources across a wide range of different sectors. Indeed, we have been so busy that even our christenings are a little behindhand.”In April…
Eco Marine Power Launches Hybrid Battery Packs
In cooperation with its strategic partners Furukawa Battery and Teramoto Iron Works, Eco Marine Power (EMP) has announced the release of two UB-50-12 hybrid battery packs for ship, offshore and land-based renewable energy projects. These safe, reliable and recyclable battery packs will be available in 2.4kWh and 3.6kWh configurations. Multiple battery packs can be installed together to provide the amount of energy storage needed from small scale installations to larger energy storage projects.
Innovation Starts @ Marine Hub Cornwall
Marine Hub Cornwall are on a mission to showcase the UK’s southwest coast as a world class center for marine technology and innovation. Working alongside Invest in Cornwall, which manages inward investment into the region, Marine Hub’s Operations Director, Matt Hodson, explains why he believes Cornwall is best positioned to be a global hub for the marine renewable industry.To kick off, can you give the readers a brief overview of your experience and what led you to become the…
Wartsila's Ship Technology Outlook Brightens
Ship technology and power plant maker Wartsila missed profit expectations on Thursday, citing postponed energy projects, but new orders beat forecasts with the help of rising demand for its marine sulphur scrubbers.Shares in the Finnish company dropped 4 percent by 0920 GMT after second-quarter core profit came in flat from a year ago at 123 million euros, way below the 147 million euros expected by analysts in a Reuters poll.CEO Jaakko Eskola, however, said some sales had just…
Smarter Energy Policy Will Broaden Offshore Recovery
For the past few years, depressed commodity prices, stricter regulatory requirements and competition from onshore development at home and from other countries offering attractive offshore lease and royalty terms have had severe impacts on new exploration in the U.S. Gulf of Mexico. Thankfully, the tide appears to finally be turning.In August, Gulf of Mexico Lease Sale 251 drew increased competition for offerings and $178 million in high bids, $53 million more than previous sale held in March.
Eolfi Appoints Vincent Fromont as New CEO
Eolfi , a French developer specialised in floating wind projects, has appointed Vincent Fromont as Chief Executive Officer. Vincent Fromont, 47, is a senior onshore/offshore oil and gas executive with more than 20 years of experience in the industry.Vincent has various business and operational senior leadership roles, working for market’s leaders such as JGC, Subsea 7 and TechnipFMC, both in France and abroad. Vincent holds a Master’s degree of Technologies and Management from Ecole Centrale de Paris…
Gulf Island Fabrication to Build Riverboat Using Casino Boat's Hull
American manufacturer of marine vessels Gulf Island Fabrication has signed a contract for the expansion and delivery of one 245-guest riverboat with American Countess.The new paddle wheeler will be built using the existing hull of the Kanesville Queen, a former gaming vessel built in 1995. Revenue backlog and man-hours associated with this project will be reported in connection with the Company’s announcement of financial results for the quarter ending September 30, 2018.“We continue…
The New York Bight – a Hydra of Difficult Issues
The greening of America’s energy signature will not come without the usual discussions, regulatory oversight – and opposition from a raft of special interests.Amidst an atmosphere of possible resurgence in the domestic offshore oil energy, maritime stakeholders are also reminded that there is more than one kind of energy available for development off the four collective coasts of the United States. That process is underway in the Great Lakes; it has already happened off of New England.
DNV GL Completes Due Diligence of Dutch Windpark Spui
DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed comprehensive due diligence of the Dutch Windpark Spui, for a group of lenders who are providing the debt financing for the project. The power generated at Windpark Spui, which will supply renewable electricity to more than 24,000 households, will be sold to Eneco Group, a Dutch sustainable energy company, under a 16-year power purchase agreement. Eurus Energy…
Canada to Roll Out First Propane Export Terminal
Royal Vopak and AltaGas have entered into a joint venture and will invest together in the development of the Ridley Island Propane Export Terminal (RIPET). RIPET is expected to be the first propane export facility off the west coast of Canada. The project is to be designed to ship 1.2 million tonnes of propane per annum, with approximately 96,000 cubic meters of storage capacity. The facility is expected to be commissioned in Q1 2019. Vopak will take a 30 percent interest in RIPET.
UK Chamber Shipping Upbeat after US abandoning Jones Act Amendments
US authorities have abandoned plans to tighten Jones Act coastal shipping rules – and it’s all thanks to the coordinated efforts of international government administrations, US energy firms and shipping bodies, in which the UK Chamber played its part. A statement from UK Chamber of Shipping said that America’s Customs and Border Protection (US CBP) on January 18 announced a plan to revoke past US CBP rulings that allow non-US flagged offshore vessels to carry out specialised services in specific circumstances for US offshore energy projects.
Canada to Ban Tankers off North British Columbia
Canada's Liberal government has introduced legislation for a moratorium on oil tanker traffic along the northern coast of the British Columbia province, the country's transport department said on Friday, delivering on an election promise. Canadian Prime Minister Justin Trudeau ordered the ban soon after the election in 2015, in which he took power on a pledge to balance resource development with protecting the environment. Friday's bill will likely pass because Trudeau's Liberals hold a majority in Parliament.
Oregon County Mulls LNG Terminal Ban
A coastal Oregon county will vote Tuesday on a ballot measure to block a proposed natural gas terminal, the latest in a series of efforts to thwart energy projects across the Pacific Northwest. The measure would ban transport of fossil fuels not intended for local use through Coos County, located about 200 miles (322 kms) south of Portland. Backers have called the initiative a response to a $7.6 billion proposal by Calgary-based Veresen Inc, to build a facility in the county where natural gas would be liquefied and transferred to tanker ships for sale abroad.
Oregon County Won't Block LNG Terminal
A coastal Oregon county overwhelmingly rejected a ballot measure aimed at blocking a proposed natural gas terminal dealing a blow to what was the latest in a series of efforts to thwart energy projects across the Pacific Northwest. The measure, had it passed, would have banned transport of fossil fuels not intended for local use through Coos County, located about 200 miles (322 kms) south of Portland. Around 76 percent of votes were cast against the measure, with 24 percent in favor, according to unofficial results posted on the Coos County government website late Tuesday.
Fincantieri, Eni Partner on Gas Transport Research
Italian shipbuilder Fincantieri and Italian energy company Eni will together work on projects for sustainable development and support the use of gas for transport. Fincantieri CEO Giuseppe Bono and Eni CEO Claudio Descalzi signed a Memorandum of Understanding (MoU) for cooperative research and development, including possible studies in the field of energy systems, with particular reference to the natural gas transport chain. The companies envisage potential partnerships in Italy and abroad…
Nexans Sets a New World Record in Submarine Cable in Norway
While the Nordic countries are among the most advanced in terms of clean electricity generation, their consumption of energy per capita is also among the highest in the world due to cold climate and a sparse population distribution. To meet growing electricity demand and accompany increased energy production, BKK Nett AS, one of Norway’s largest power companies, decided to install the Kollsnes-Mongstad power line to strengthen the electrical grid in Western Norway. After the manufacturing and installation of two submarine cables for Kollsnes-Mongstad connection…
Top Regulatory Concerns on the US Commercial Waterfront
A top 10 list of regulatory concerns is by no means all-inclusive, but it does bring to light the full weight of the regulatory hammer on the collective domestic commercial waterfront. “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us...” – Charles Dickens, A Tale of Two Cities, 1859.
Shipping Companies May Adopt LNG Faster Than Expected
Infrastructure among top hurdles for LNG marine fuel adoption. The shipping industry may adopt liquefied natural gas (LNG) as a fuel faster than expected because of stricter environmental regulations that target carbon dioxide emission, according to an executive at maritime agency Bernhard Schulte Shipmanagement (BSM). The Energy Efficiency Design Index (EEDI) regulation enacted by the International Maritime Organization (IMO) in 2013 will require newly built ships to emit less carbon dioxide (CO2) and that will drive shippers to move toward LNG as a fuel when placing orders for new vessels…
Exxon, Petrobras Form Alliance to Develop Oil, Gas Projects
Exxon Mobil Corp and Petróleo Brasileiro SA, Brazil's state-controlled oil producer also known as Petrobras, said on Thursday they had formed an alliance to develop energy projects around the world. The deal, which was signed in Rio de Janeiro, will have the companies study ways they can cooperate on exploration, production and chemical ventures inside and outside of Brazil. The deal comes two months after Exxon and Petrobras were jointly awarded six oil-rich blocks in Brazilian coastal waters. (Reporting by Ernest Scheyder; editing by Diane Craft)
Sovcomflot’s New Icebreaker Named
A ceremony raising the flag of the Russian Federation and naming a new multifunctional icebreaking platform supply vessel, Yevgeny Primakov, took place on February 3, 2018 in Saint Petersburg. The vessel was built by Arctech Helsinki Shipyard, a subsidiary of the United Shipbuilding Corporation; technical supervision was carried out by the Russian Maritime Register of Shipping (RS), which assigned the vessel a high ice class – Icebreaker6. Yevgeny Primakov’s design and construction…
Schulte's PRONAV Acquisition Greenlighted
The Hamburg-based Schulte Group said it has received clearance by the German Federal Cartel Office for the acquisition of the LNG specialist PRONAV. With this strategic move, the family-owned ship owner and manager continues to increase its capabilities and capacity in the growing liquefied natural gas (LNG) market. Through the acquisition of PRONAV, the Schulte Group has increased the number of vessels under full management in its third-party management fleet by six additional LNG carriers (LNGC). At present, the Schulte Group provides full management for three LNGC and crew management for 21 LNGC. Five LNGCs with a capacity of 173…