Odfjell SVP Olsen Steps Down
Norway based shipping and tank terminal company Odfjell SE said its Senior Vice President Helge Olsen will step down from his role as Head of Ship Management, effective January 9, 2017. Olsen, who has been with the company since 2000, holds no Odfjell shares or options. Harald Fotland, SVP Odfjell Tankers, has been appointed to temporarily cover the position as SVP Ship Management until Olsen’s successor is in place.
Aker Bags Johan Castberg FPSO Concept Study
Aker Solutions has secured an order from Statoil to provide a concept study for a floating production, storage and offloading facility for the Johan Castberg oil field development in the Barents Sea. The order is a call-off by Statoil on an engineering contract for Johan Castberg won by Aker Solutions in 2013. "We've worked with Statoil for two years on finding a cost-effective solution that will enable development of this strategically important oil field in northern Norway," said Per Harald Kongelf, head of Aker Solutions' Norwegian operations.
Oil Price Fall May Aid Long-term Arctic Exploitation
A fall in oil prices may help long-term exploitation of fossil fuels in the Arctic by averting a short-lived "gold rush" into the vulnerable icy region, Norway's Foreign Minister Boerge Brende said on Thursday. Exploitation of oil and gas required long planning to safeguard the fragile environment, which is heating up faster than the world average because of global warming, he said. "It is safe to assume that Arctic gas will have its day," he said in a speech at an Arctic conference, saying that burning natural gas emitted half the amount of heat-trapping carbon dioxide as coal.
WaPo: Two German CEOs Launching Own Mediterranean Rescue
The Washington Post has a story today about two German men who are launching their own rescue mission to save migrants crossing the Mediterranean. Harald Höppner and Matthias Kuhnt are two CEOs of a mid-size company in eastern Germany. According to the Post, the two have invested $162,000 since October into a 21-meter vessel that they are going to use to conduct a three-month mission patrolling the area between Libya and Italy, where the dangerous migration that has cost thousands of lives in recent years is concentrated.
The New Offshore Reality
Swedbank’s chief economist, Harald Andreassen, isn’t “too hopeful” about the long-term prospects for the oil price, but then again, “I’m less certain of this than I’ve ever been as an economist,” he told a floating production conference in Oslo. After two-and-half years of oil-price collapse followed by layoffs in the thousands; stacked oil rigs and order freezes for offshore shipping, price insecurity itself is a partial expression of confidence. Beneath some palpable yet halting movements toward recovery in 2017…
Prosafe Appoints Interim Chairman of the Board
Prosafe, owner and operator of semi-submersible accommodation vessels, informs that its Chairman, Harald Espedal, has notified the company that he will step down from his position as Chairman and Director of the Board “for work load reasons”. Prosafe’s board has accepted the resignation and appointed Glen O. Rødland as interim Chairman of the Board. Rødland, currently a senior partner at HitecVision, has 25 years experience in shipping, oil and gas and other industries, with extensive experience as an analyst and in corporate finance.
Playing Catch: Northern Europe Fisheries Fleet Review
Record hauls of wild fish, an unprecedented return on farmed salmon, finance and subsidy garner new orders, new designs and emboldened suppliers. In Scandinavia, particularly Norway, rich, carefully managed fisheries raise just one question for the commercially minded — which wave of business to ride. A growing number of large and small players are in on the action, as historic profits are heralded up and down the supply chain. For the hardened makers of gear that know tougher times, this is the golden age.
Thome Signs Safety Service Agreement with WSS
Singapore-based Thome have signed a Safety Service agreement with Wilhelmsen Ships Service (WSS). Harald Lundestad, General Manager for WSS in Singapore said: “Companies such as Thome have to balance the logistical demands of managing a large and diverse fleet trading worldwide with the challenge of keeping vessels compliant. WSS safety service technicians carry out services on a wide range of safety, firefighting and rescue equipment such as CO2 high-pressure systems, portable fire extinguishers…
Wärtsilä REvolution system takes sealing technology to New Level
The new Wärtsilä REvolution system is a digital management system that controls, monitors, records and analyses the performance of seals autonomously in real time, increasing the predictability and reliability of sealing solutions in rotating equipment. Wärtsilä's new digital management system revolutionises sealing technology in the hydropower industry. The system incorporates machine learning, predictive modelling and model predictive control (MPC) techniques to provide customers with intelligent…
Search Suspended for Worker Missing in US Oil Platform Blast
The U.S. Coast Guard has suspended the search for a worker missing from an oil production platform in Louisiana's Lake Pontchartrain that exploded and caught fire late on Sunday. Missing is Timothy Morrison, 44, of Katy, Texas, the Coast Guard said in a statement. Seven other workers were sent to hospital with injuries in the incident. "The decision to suspend a search is never an easy one," Commander Zac Ford said in the statement. Coast Guard rescue crews battled 4 foot to 5 foot (1.2 meter to 1.5 meter) waves during the search, and a helicopter joined them at daybreak after overnight efforts failed to locate Morrison, officials said at a briefing on Monday.
Migrant Crisis Promts Call to IMRF for Help
Mediterranean Rescue Services are in urgent need of support because they are struggling to keep up with the replacement of equipment being used to rescue the increasing numbers of migrants in their waters and have contacted the International Maritime Rescue Federation (IMRF) for help. In response, the IMRF is relaunching its ‘Members Assisting Members’ webpage to help identify the need and enable connection to the 2,500 contacts on the database that may be able to help. The three…
CEO Lone: China, India to Dominate Oil Trade
China and India will account for about 35% of global oil trade in the next 10 to 15 years, according to predictions by Harald Lone, Chairman and CEO of Newport Shipping Group. Many traditional global shipbuilding patterns are in flux with the proliferation of oil and gas coming from the U.S. shale, and oil supplies traditionally bound for the U.S. will have to find new markets. Lone contends that China and India will become “very important” to the crude oil markets. “There is no doubt that shale oil and gas is changing the oil industry and it will have a major impact on trade flows…
Fotland Named COO at Odfjell
Odfjell SE has appointed Harald Fotland as chief operations officer (COO), effective January 5, 2018. The Norwegian tanker shipping firm said it is introducing a COO function to ensure full integration between ship management and commercial operations. “With the new structure, Odfjell Tankers will have common and aligned goals across all functions relating to chemical tankers,” the company said. Fotland joined Odfjell as chief of staff in 2010, and in 2015 was appointed senior vice president of Odfjell Tankers.
Wärtsilä Debuts Package for hydropower & industrial plant
Wärtsilä Corporation, a global leader in complete lifecycle power solutions for the marine and energy markets, expands into a new market segment, offering a comprehensive package of seals, bearings and associated solutions to hydropower installations and industrial plants worldwide. Wärtsilä offers a wide portfolio of products and services to power plant owners and operators. By utilising Wärtsilä's global engineering, manufacturing and service capabilities, the Hydro & Industrial services offering targets the specific needs of hydropower…
New Head for Odfjell Tankers
Odfjell announced it has appointed Senior Vice President Harald Fotland to new Head of Odfjell Tankers. Fotland comes from the position as SVP/Chief of Staff and has for the past 18 months also been responsible for the cost-cutting and efficiency program in Odfjell. He succeeeds the shipper's previous head of tankers, Morten Nystad, who stepped down from his position in July. The company also appointed Vice President Arild Viste to Global Head of Tanker Trading in Odfjell Tankers. Viste comes from the position as Vice President for Commercial Development.
German Shipbuilders Strong in a Weak World Market
The global shipbuilding industry continued its downturn in 2015 with the number of new orders halved compared to 2013 level. The year 2016 is shaping up to be even worse. The “Big Three” shipbuilding nations China, Korea and Japan are major customers to the world leading maritime equipment and system producers from Germany. The fact that the domestic supply chain has been generating more than half of its sales within Europe will come in as an important stabilizing factor to weather the current storm: according to Clarksons Research…
Singapore Strengthens Maritime Ties with Norway
The Maritime and Port Authority of Singapore (MPA), represented by Chief Executive, Andrew Tan, signed a Joint Statement with the Norwegian Ministry of Trade, Industry and Fisheries on October 10 during the State Visit by President Tony Tan Keng Yam to Norway. Norway’s signatory was State Secretary Dilek Ayhan. The signing was witnessed by President Tony Tan and His Majesty King, Harald V of Norway. Besides substantial commercial and industrial cooperation between the maritime clusters of Singapore and Norway…
Bulk Carrier Freight Rates Predicted to Peak in 2016
“A fundamental and sustainable dry bulk market recovery is expected in the second half of 2015 and throughout 2016, when the total dry bulk market balance could peak at 88%, with peaks during the fourth quarter close to 92%. The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment, with Newport Shipping Group predicting an improved tonnage balance over the next couple of years, resulting in a freight rate peak in the 2016/2017 period.
New Plan Pledges Ferry Safety Lead
Interferry has unveiled a strategic plan promising to put safety issues at the heart of its work as the voice of the worldwide ferry industry. The pledge came at the global trade association’s 41st annual conference in Manila – a venue chosen to spotlight the challenges of domestic ferry safety in developing nations. According to Interferry, the plan signals its overriding ambition to help lift ferry safety in all parts of the world to the very high standard already in place in North America and Europe, where casualties in recent decades have been extremely rare.
Ship Efficiency a Priority, Even with Low Crude Prices
Ship efficiency is just as relevant and important in a bearish oil market as when shipowners have to pay over $600 for a metric ton of heavy fuel oil, Newport Shipping avows. Hakan Ozcan, the Chief Financial Officer of Ecoships, the technical ship management arm of Newport Shipping Group, said, “With crude oil prices at their lowest since April 2009, the temptation is to put your foot on the gas and speed up a bit but this is not the way forward. Ozcan continued, “Admittedly bunker fuel will continue to be the largest single operational cost for shipowners…
Norway Pushes IMO to Halve Shipping Emissions by 2050
Global shipping should set a goal of halving greenhouse gas emissions by 2050, Norway's government and shipowners' association said on Thursday before talks by the International Maritime Organization (IMO) in London next week. Norway's fleet is worth about $45 billion, the fifth most valuable in the world behind Japan, Greece, China and the United States. Norway's shipping includes offshore, gas, chemicals, car vessels, dry bulk, crude, crude products and containers. The IMO, which says international shipping represents about 2.2 percent of world carbon dioxide emissions…
Oil Firms Must Pay More for Service Vessels -Norway Ship Owners
Oil companies should be prepared to pay higher rates for renting offshore service vessels, in order to secure the long-term survival of a key part of the industry's supply chain, the Norwegian Shipowners' Association said on Thursday. Energy firms sharply curtailed investments in the wake of the 2014 oil price crash, idling many service vessels and driving down market rates to unsustainable levels, Chief Executive Harald Solberg of the Norwegian lobby group said. At the peak last year…
Proposed New Capital Rules Threaten Shipping
The global shipping industry will hit a credit crunch if proposed new bank capital rules are implemented in a sector already weighed down by toxic debt, bankers involved say. The Basel Committee of banking supervisors from nearly 30 countries met in Chile last month in an effort to complete the new rules for lenders in the world's major financial centres. It is now trying to pin down the details. While the rules do not target shipping specifically, some of the biggest rises in…