Sovcomflot Updates Fleet Strength
Russian maritime shipping company specializing in petroleum and LNG shipping Sovcomflot (SCF Group) said that Yevgeny Primakov (Icebreaker Ice-15) joined the fleet, the final vessel in a series of four new generation IBSV’s, engaged under a long-term time-charter agreement with Sakhalin Energy.The shipping company added that this makes a total fleet of 10 supply and standby vessels servicing Nogliki Base Camp (SEIC and ENL) at Sakhalin island (Sea of Okhotsk).The world’s first Aframax tanker to use LNG as her primary fuel Gagarin Prospect (114…
Milaha Ups Stake in Nakilat
Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) has increased the company’s stake in compatriot liquefied natural gas (LNG) shipping giant Nakilat.Qatar Shipping Company, a subsidiary of Milaha, has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Company Ltd (Nakilat) representing 5.9% of Nakilat’s share capital.The Sale and Purchase Agreement was conditional on obtaining the consent…
Renault to Use NEOLINE Sailboats
French automaker Groupe Renault partners with NEOLINE, designer and operator of cargo sailing ships, to experience a new maritime transport solution and reduce the carbon footprint of the Group’s supply chain.Groupe Renault announced the signing of a 3-year partnership with Nantes start-up NEOLINE to develop a more sustainable maritime transport service powered by wind, and to contribute to the environmental management of its logistics chain while nearly 60% of the Group's parts and vehicles are transported by sea.Jean-Philippe Hermine…
Wärtsilä Wins First ‘LPG as Fuel’ Order for New Gas Carriers
Wärtsilä will provide an integrated cargo handling and fuel gas system for two new liquefied petroleum gas (LPG) carriers for Belgium-based owner Exmar. The 80,000m³ very large gas carriers are being built at HHIC-Philippines (Hanjin Heavy Industries & Construction Philippines) in Subic Bay, and will be the first vessels capable of running on LPG, according to Wärtsilä, who secured the order in July 2018.Wärtsilä, which offers ‘LPG as fuel’ as a fully integrated part of the cargo handling system…
Excelerate, TGS Join for Argentina LNG Export Study
Excelerate Energy and Transportadora de Gas del Sur (TGS) have provisionally agreed to jointly assess the viability of an LNG liquefaction and export project at Bahia Blanca in Argentina.Argentina currently imports liquefied natural gas (LNG) through two floating import terminals, particularly during the country's peak winter consumption.The successful development of Argentina's shale gas reserves resulted in a potential excess of natural gas during the summer months. The project…
Bureau Veritas Issues Range of Approvals to GTT
Bureau Veritas has issued a broad swathe of approvals to GTT, expert in membrane containment systems and liquefied natural gas (LNG) technology applications.Bureau Veritas experts have been working with GTT to approve two new containment systems: the Mark III Flex+, an evolution of the Mark III but with a lower boil-off rate (BOR), and the GTT MARS, a containment system developed for LPG carriers that is adaptable to any size of tank or ship.Approval in Principle (AiP) has been provided for a 6…
JPM shifts its Ballast
GLOG, NM, NAP down early Fri by ~5 pct, ~8 pct and ~3 pct, respectively. Lead analyst Noah Parquette sees most shipping sectors recovering, notes that dry bulk and LNG shipping have progressed furthest but crude tankers' risk trough could be extended to early 2019 on high scrapping activity and low orders. Meanwhile, the Baltic Exchange Dry Index has dropped by ~18 pct since the beginning of the year.
Sovcomflot Better, Despite Challenging Year
PAO Sovcomflot (SCF Group), one of the world leaders in energy shipping and marine services to offshore oil and gas upstream projects, said that its gross revenue for the full year to 31 December 2017 grew by 3.4% to $1.43 billion. According to the statement, 2017 proved to be one of the worst years for the conventional tanker market in the last quarter of a century, with similar conditions experienced to those seen in 2011 and 1992. Conventional tanker freight rates fell by almost 50 per cent year-on-year…
Bahri Optimistic of Oil Tanker Market
Bahri, a global leader in transportation and logistics, is very optimistic about the future of the oil tanker market and it believes that there will continue to be demand for this market, said Mohammed Al-Sarhan, Vice Chairman of Bahri, who possesses extensive experience in oil and gas, transportation and logistics, and other sectors. He was talking in the annual Bahri Oil Transportation Forum, which was held in Dubai last week. John Angelicoussis, Chairman of Angelicoussis Shipping Group Limited…
Sovcomflot Reports Loss for 9M 2017
PAO Sovcomflot (SCF Group) reported a $6.8 million loss for the first nine months of 2017, citing the adverse impacts of low spot market freight rates in the conventional tanker sectors. “This year has proven to be a very challenging period for the tanker industry and the situation now faced by many conventional tanker ship owners is especially severe,” said Sergey Frank, President and CEO of PAO Sovcomflot. “An oversupply of tonnage and reduced demand, resulting from oil capacity cut-backs led by OPEC…
Russia Sends LNG Through Northern Sea Route
Russia was now pitching itself as an important transporter of European gas to Asia, reports Sputnik quoting Danila Bochkarev, a senior fellow at the EastWest Institute in Brussels. The Russian supertanker Christophe de Margerie is en route to South Korea, sailing the Northern Sea Route with a load of liquefied natural gas (LNG) from Norway. The shipment is a major step for Russia’s Sovcomflot to enter the global gas transportation market said the report. The Northern Sea Route…
IADC’s René Kolman: 'Primus inter pares'
The world of dredging is an ever changing and endlessly fascinating niche of the global marine industry, an indispensable activity essential to keeping world commerce flowing. For insight on recent trends we visited last month with René Kolman, Secretary General, International Association of Dredging Companies (IADC), for his take on a world of dredging challenges and opportunities. In true Dutch fashion René Kolman is refreshingly forthright. Kolman assumed the mantle of leadership at IADC more than seven years ago, coming to the post from the landscape and garden trade association business.
Brazil Criticized for Dumping Toxic Ships in South Asia
NGOs and trade unions in Brazil have criticized the state-run Petrobras’ end-of-life fleet management by dumping toxic ships on South Asian beaches. The Brazilian Confederação Nacional dos Trabalhadores em Transportes Aquaviários e Aéreos, na Pesca e nos Portos (CONTTMAF) trade union federation and its member SINDMAR (Sindicato Nacional dos Oficiais da Marinha Mercante) have recently criticized the shipbreaking practices of Transpetro, the oil and gas transportation subsidiary of the Brazilian petroleum corporation Petrobras, majority-owned by the State.
Shell Loads First LNG Vessel at Gate Terminal
Shell loads first LNG vessel, using new LNG fuel infrastructure at Gate terminal. The new LNG fuel infrastructure included the construction of a new berth. This new berth has now started operations. The loading of Shell’s chartered LNG vessel, the Coral Methane happened on September 19th. In July 2014, Shell took the Final Investment Decision to buy capacity at the Gas Access to Europe (Gate) terminal, which enabled the investment in new, dedicated liquefied natural gas (LNG) fuel infrastructure. The new LNG fuel infrastructure included the construction of a new berth.
Skaugen Goes to Red Again
Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities for long routes the petrochemical market. The gas carrier owner reported profit before and after tax of minus $ 5.1 million (loss) in Q2 2016. The same quarter a year ago profit before and after tax minus $ 0.5 million. Freight revenues amounted to $ 18.5 million in this year's 2nd quarter, against 15.7 million in last year. I.M. Skaugen SE’s (IMSK) core business is liquefied gas transportation.
Sovcomflot Profits slip
Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and strengthen its financial position while continuing to enhance its industrial projects portfolio in accordance with its Development Strategy. * Five new vessels launched: pioneering 172,600 m3 capacity ice breaking LNG carrier (Arc7 ice class) for Yamal LNG project (January)…
US LNG Shipments Point to Global Gas Price Convergence
The emergence of US liquefied natural gas as a competitive alternative for European and Asian customers, combined with an oversupplied market, should drive more convergence between natural gas prices at major hubs and weaken the link between gas and oil prices, Fitch Ratings says. The first shipment of US liquefied natural gas (LNG) from Cheniere Energy's Sabine Pass facility to Europe arrived in Portugal at the end of April. It is unclear how many more shipments will arrive in Europe in the near term…
Cobham, Inmarsat Enable Smart Shipping for Nanjing Tankers
Inmarsat (LSE:ISAT.L), and Cobham SATCOM today announced that their partner Beijing Marine Communication & Navigation Company Ltd. (MCN) has won the largest Inmarsat Fleet Xpress installation project to date, with Nanjing Tanker Corporation of China. Just two weeks after the launch of Inmarsat’s Fleet Xpress service, the agreement brings always-on, next generation high-speed broadband capability worldwide to 70 ships; delivering ‘smart shipping’ connectivity to drive performance optimisation and a step change in crew communications and welfare for Nanjing Tanker Corporation (NTC) vessels.
Nanjing Tankers Implements 'Smart Shipping' Connectivity
Inmarsat and Cobham SATCOM announced that their partner Beijing Marine Communication & Navigation Company Ltd. (MCN) has won the largest Inmarsat Fleet Xpress installation project to date, with Nanjing Tanker Corporation of China. Just two weeks after the launch of Inmarsat’s Fleet Xpress service, the agreement brings always-on, next generation high-speed broadband capability worldwide to 70 ships; delivering ‘smart shipping’ connectivity to drive performance optimization and a step change in crew communications and welfare for Nanjing Tanker Corporation (NTC) vessels.
China Shipping Swings to Loss
China Shipping Container Lines Co. posted a net loss of 2.9 billion yuan ($448.5m) in 2015, compared with profit of 1.04 billion yuan in 2014, the nation’s second-biggest container shipping company said in a statement. China Shipping in January had forecast a loss of 2.8 billion yuan for 2015. The revenues also fell 12% to RMB31.83bn from RMB36.08bn previously, the company said. The operating result has been of sign negative for -2.49 billion yuan respect to an operating profit of 1.96 billion yuan in 2014.
BOURBON Invests Heavily in Gas Sector
While BOURBON is undeniably a leader in the offshore marine sector, the current tough offshore environment has led it to diversify its operations in the face of a potentially prolonged down market globally. With that, the company announced the acquisition of the activities of a global leader in ethane transportation, with a market share greater than 50% in a market expected to have strong growth. - 100% of Greenship Gas Manager Pte. - 80% of JHW Engineering & Contracting limited.
Wärtsilä, Nigerian BGT Ink Maintenance Deal
Wärtsilä has signed a five-year maintenance agreement with the Nigerian gas transportation company Bonny Gas Transport Limited, (BGT), a subsidiary of Nigeria LNG Limited. Wärtsilä will monitor and service the engines on board the BGT's six new LNG carriers and deliver spare parts, as well as expertise for inspections and major service overhauls. The contract marks the beginning of a new era of cooperation between Wärtsilä and BGT, and is the first of its kind for Wärtsilä in Africa. Nigeria LNG Limited exports most of its cargo to the European Asian markets.
Croatia May Choose FLNG Terminal
According to Reuters, Croatia may decide to construct a floating LNG (FLNG) vessel for the northern Adriatic – as opposed to an onshore liquefaction plant – in order to begin operations sooner. At the moment, it is unclear what would become of the plans for a land-based terminal on the northern Adriatic island, Krk. So far, seven non-binding bids from both industrial and financial investors have been made for the onshore project. Croatian First Deputy Prime Minister Tomislav Karamarko met in Zagreb with Amos J.