RWE Reserves German LNG Import Capacity
Europe’s leading energy companies RWE and German LNG Terminal GmbH, the joint venture driving forward Germany’s first LNG terminal in Brunsbüttel in Northern Germany, have reached an agreement for a considerable part of the terminal’s capacity on a long-term basis.This contract follows a successful “Open Season” in which market interest was tested. The total capacity of the combined LNG import and small-scale terminal will be 5 billion cubic metres. RWE has signed a contract that guarantees RWE access to substantial annual capacity.Andree Stracke…
Djibouti Nationalizes Stake in Doraleh Container Terminal
Djibouti has nationalized the two-thirds stake in its Doraleh Container Terminal held by the Port of Djibouti, the government said in a statement, the latest twist in a dispute with Dubai's government-controlled DP World dating back six years.In February, Djibouti ended a contract with DP World, one of the world's biggest port operators, to run its Doraleh Container Terminal (DCT), and seized control of the terminal.A London court later said DP World's contract to run the terminal was still valid.The port of Djibouti, PDSA, is itself majority-owned by the Djibouti state and in turn owns a two-
Offshore Optimism is Cautiously on the Rise
Following the path of oil prices, consolidation also follows myriad financial crises. What happens next isn’t altogether clear, but the long, deep trough for offshore energy may finally be in our choppy wake.In mid 2017, financial turnaround and financial repairs specialist Alix Partners made a bold statement regarding the beleaguered Offshore Service Vessel (OSV) marketplace. In a July 2017 report, following an analysis of 44 participants in the business, the restructuring team wrote: “The industry faces grave financial pressure…
Azerbaijan Caspian Shipping Company Opens Shipping - 160
Azerbaijan Caspian Shipping Company (ACSC) has opned “Shipping - 160”, a photo gallery dedicated to the 160th anniversary of the company for public in Baku Metro. This year ACSC celebrates its 160th anniversary."The residents and guests of capital Baku have a unique opportunity to watch rare photos representing history of Azerbaijan Caspian Shipping Company in main vestibules of all four exits of the station," said a press release from the company.Mehman Mehdiyev, the press secretary…
CMA CGM Says It's Ready for More M&A Deals
France's CMA CGM, one of the world's largest container-shipping lines, remains interested in seeking acquisitions despite bringing to an end its interest in German peer Hapag-Lloyd, its chief executive said on Thursday."The shipping sector is consolidating further and if there are opportunities the CMA CGM group ... is able to be in the running for a new deal," Rodolphe Saade told Reuters on the sidelines of a ship launch ceremony at the northern French port of Le Havre.Regarding Hapag-Lloyd…
Damen Chairman Meets with Romania’s Economy Minister
The chairman and owner of Damen Shipyards Group met with the Romanian Minister of Economy this week to discuss the future of the shipyard jointly operated by the shipbuilding conglomerate and the Romanian government.The Dutch shipbuilding group became joint venture partners with the Romanian government in July when it acquired Daewoo Shipbuilding & Marine Engineering's (DSME) share in the Romanian shipyard formerly known as Daewoo Mangalia Heavy Industries. Damen has taken over operational management of the yard…
ATCO Buys 40% Stake in South American Port
Calgary-based natural gas, electrical and real estate giant ATCO is getting into the transportation business after buying a 40-per-cent stake in a South American port operator Neltume Ports for about CAD$450 million (USD$340 million).Neltume Ports, a subsidiary of Ultramar, operates in 16 port facilities and three stevedoring businesses primarily located in Chile and Uruguay. “This acquisition represents an important milestone in the execution of ATCO’s long-term strategy to diversify…
Mariner Training in Brazil: Inside the Institute of Nautical Sciences
For a long time there has been a deficit of trained maritime officers in Brazil, as for decades the only accredited training institutes were run by the Brazilian Navy, where a very limited number of prospective maritime deck and engine officers could be trained at its two training institutes in the country. That's all changing now with the Institute of Nautical Sciences (ICN) leading the way.With the discovery of the pre-salt in 2007 and the continued growth of the maritime and offshore sectors, the lack of qualified Brazilian officers became acute.
Norway's Gas Exports Set to Match Annual Record
Norway's gas exports hit a new high of 36.8 billion cubic meters (bcm) this summer and the annual deliveries will be on a par with the record annual figure achieved in 2017, gas system operator Gassco said on Friday.Between May and August, which is normally a season with fewer gas exports, Norway's deliveries almost matched a normal winter level as European importers needed to refill depleted gas storages which drained during last year's cold winter."It's too early to say exactly where we'll end up this year…
Shell in Talks to Sell $1.3 Bln of Gulf Coast Assets
Royal Dutch Shell Plc is in talks to sell its assets in a Gulf of Mexico oilfield to Focus Oil to pay for its takeover of BG Group Plc, Bloomberg reported on Thursday, citing people familiar with matter.The deal could value Shell's stake in the Caesar Tonga field at about $1.3 billion, the report said.Shell has a 22.5 percent working interest in Caesar Tonga, with the rest owned by companies including Anadarko Petroleum Corp, Equinor ASA and Chevron Corp, Bloomberg said, citing company filings.Shell and Focus Oil did not immediately respond to a request for comment.(Reporting by Sathvik N in B
Electrification in a New Era for the O&G Industry
With the recovery in oil prices, deepwater and ultradeep water oil and gas (O&G) projects are the focus of renewed interest. Project viability will come down to a continued focus on cost, but also productivity through high-performing assets. And electrification is set to drive a dramatic impact of these high-tech production facilities for more efficient operations.Following a prolonged downturn in prices, a flicker of life has returned to offshore production projects with oil recovering to around $70/barrel.
USCG Implements Handheld Technology for Onboard Oil Testing
With a motto of Always Ready, the United States Coast Guard (USCG) has 11 missions specified by law including drug and migrant interdiction; ports, waterways and coastal security; fishery patrols; search and rescue; and national defense. The USCG’s newest ships including 22 Fast Response Cutters (FRCs) recently entered service with 36 more on order and six new National Security Cutters (NSCs) with two more in the process of being built. Oil analysis plays a critical role in the…
NASA Welding Technologies Could Revolutionize Workboat Fabrication
Solid-State Welding Processes Being Developed for NASA Manufacturing Programs Could Significantly Reduce Workboat Fabrication CostsWhether it is for a tug boat, cargo vessel, or an offshore supply ship, much of the workboat fabrication industry is located along the Southern Coast of the U.S. But a visit to any one of the workboat facilities in that area (or any other in the country) would reveal antiquated and archaic fabrication processes used seventy years ago. The workboat manufacturing process is very expensive, labor intensive, and has not really changed since World War II.
APH Pushes Container on Vessel Service for St. Louis Region
Innovative waterway concept vessel could deliver transportation savings for shippers on the Mississippi River. Plans to transport freight via innovative waterway vessels that backers say will revolutionize the inland waterway system and provide significant transportation cost savings for shippers, especially those accessing the Midwest by utilizing the Mississippi River and its tributaries, are underway, according to Sal Litrico, CEO for American Patriot Container Transport, a…
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.
US Aims to Start LNG Deliveries to Germany in Four Years
U.S. companies expect to begin delivering liquefied natural gas (LNG) to Germany in four years at the latest and will challenge Russia which now accounts for 60 percent of German gas imports, the deputy U.S. energy secretary told a German newspaper."U.S. liquefied natural gas is coming to Germany. The question is not if, but when," Dan Brouillette told the mass circulation daily Bild in an interview published on Monday.U.S. President Donald Trump in July accused Germany of being a "captive" of Russia due to its energy reliance and urged it to halt work on the $11 billion…
Penguin Orders 16 enginei Units
Royston Diesel Power’s enginei EFMS (electronic fuel management system) has been specified for a range of new specialist maritime security vessels and multi-role crew boats. Sixteen enginei units supplied to Penguin International Limited, the Singapore-based designer and operator of aluminum workboats.Penguin is building several of its flagship Flex Fighter range of high-speed armored security vessels for antipiracy operations off the coast of Nigeria. New Flex-42X multi-role…
Zennor Petroleum Acquires Stake in Britannia Field
North Sea oil company Zennor Petroleum has entered into a Sale and Purchase Agreement with Mitsui E&P UK in respect of its interests in United Kingdom Continental Shelf Licences P.213, Block 16/26a, Area B and P.345 Block 16/27b Area B which represent an 8.97% working interest in the Britannia Field.Completion of the transaction is subject to customary regulatory and partner consents.The acquisition of the Britannia Field interest is strategic for Zennor given its 100% operated working interest in the nearby Finlaggan Field.
Diana Shipping Issues USD100mln Bond
Diana Shipping announced the pricing of a US$100 million private placement of senior unsecured bonds maturing in September 2023 and callable beginning three years after issuance.In addition, the global shipping company specializing in the ownership of dry bulk vessels may issue up to an additional US$25 million of the bonds on one or more occasions.The bond offering was priced with a U.S. dollar fixed-rate coupon of 9.50%. Interest will be payable semi-annually in arrears in March and September of each year.
Iridium’s Maritime Business Continues Momentum
Iridium Communications Inc. announced today that KDDI Corporation, Navarino and NSSLGlobal Ltd., are the newest Iridium Certus service providers for the maritime industry. Iridium Certus will offer a L-band satellite broadband connectivity solution.With higher speeds, state-of-the-art small form factor terminals and competitive pricing options, Iridium Certus will offer a complete communications platform for all mariners and can serve as a primary service or VSAT companion solution.
Bangladesh Shelves LNG Projects as Others Ramp Up
Bangladesh has put aside two smaller liquefied natural gas (LNG) projects with trading houses Gunvor and Vitol to focus on two larger LNG import terminals, one of which is already in use while the second will start up in March.Bangladesh has turned to LNG to offset falling domestic gas output to feed industrial demand and electricity generation in a nation of 160 million people where a third have no power supply.It aims to import 17 million tonnes a year of LNG by 2025, which in today's terms would make it a top five importer.
APM Terminals Gothenburg Performs Well
This year has seen record-breaking performance at APM Terminals Gothenburg and the return of major shippers and consignees to the terminal. Progress is set to continue as efficiency increases through automation, including self-service gates and Optical Character Recognition (OCR) for rail and truck gates due later this year.Over the last year, APM Terminals Gothenburg has implemented a number of concrete initiatives to improve the customer experience. These include maintaining satisfactory and stable production…
Noble Corporation Buys Gusto MSC CJ46 Design Jackup Rig
Noble Corporation has announced the purchase of a new Gusto MSC CJ46 design jackup rig from the PaxOcean Group (PaxOcean) in connection with a concurrently awarded drilling contract.Noble paid $33.75 million of the $93.75 million purchase price in cash, with the remainder of the purchase price, or $60 million seller-financed at a 4.25% interest rate paid in cash and 1.25% paid in kind over the term of the financing.The Company used existing cash balances for the initial payment and the secured seller-financed amount is to be repaid in four years.