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Thursday, March 28, 2024
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19 Mar 2024

RWE Joins Forces with Spanish Port to Create Floating Wind Hub

© Tjeerd / Adobe Stock

Germany's top utility RWE has signed a Letter of Support with the Port Authority of A Coruña to facilitate the scaling-up of the port capacity in support of the Spanish government’s floating wind targets.Working together under a Letter of Support, the partners will investigate the potential for transforming infrastructure at the Port of Coruña, in northwest Spain, into a logistic hub for the marshalling, assembly and deployment of major components for commercial-scale floating…

15 Mar 2024

Saipem Gets Offshore Pipelines Installation Job for CCS Schemes in UK

Saipem's Catorone vessel (Credit: Saipem)

Saipem has signed a letter of intent for the development of CO2 offshore transportation and storage facilities as part of the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZTP) projects for the East Coast Cluster in the UK.Saipem signed a Letter of Intent, received by the Northern Endurance Partnership (NEP), a joint venture between the operator BP, Equinor, and TotalEnergies, and Net Zero Teesside Power (NZT Power), a joint venture between BP and Equinor.The…

11 Mar 2024

Coast Guard Will Not Enforce New California Rule, Citing 'Safety Concerns'

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(The Center Square) - The U.S. Coast Guard says it “will not enforce” a new California Air Resources Board regulation, citing “safety concerns.”The Coast Guard and business organizations oppose CARB's requirement that commercial harbor craft install diesel particulate filters (DPF) linked to a number of fires. Seventeen states are suing the Environmental Protection Agency for giving an exemption to California alone to enact its own air standards that, by power of its market size…

10 Mar 2024

Esgian Week 10 Report: Additional Backlog Secured

© freddytb Foto / Adobe Stock

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

06 Mar 2024

Russia Oil Fleet Shifts Away from Liberia, Marshall Island Flags Amid US Sanctions Crackdown

© evannovostro / Adobe Stock

Dozens of oil tankers used by Russia have stopped sailing under the Liberian and Marshall Islands flags in recent weeks after the United States ramped up sanctions enforcement on ships linked to those registries, according to shipping data and interviews with industry and government officials.The shift reflects the close relationship between the U.S. and the flag administration companies of Liberia and the Marshall Islands, which are headquartered not in their home countries, but in Virginia, just miles from Washington D.C. and within the jurisdiction of U.S.

01 Mar 2024

Rotterdam World Gateway to Provide Shore Power at All Berths

Left to right: Boudewijn Siemons, Port of Rotterdam Authority; Robert Simons, Municipality of Rotterdam; and Ronald Lugthart, RWG (Photo: Port of Rotterdam Authority)

Rotterdam World Gateway (RWG) container terminal will equip its entire quayside with shore-based power for all vessels, slashing emissions of particulates, nitrogen and CO2 while at berth.RWG, which is already fully automated and CO2 neutral, is opting to design, finance and build the shore-based power systems itself.The first berths are expected to be equipped with shore-based power from 2026 onward, placing RWG ahead of European regulation stipulating that all container, passenger and cruise ships larger than 5…

28 Feb 2024

Esvagt Enters South Korea’s Offshore Wind Market

(Credit: Esvagt)

Danish vessel owner Esvagt and South Korea-based shipping company KMC Line have formed strategic partnership to cooperate on offshore wind opportunities in the East Asian country.A new collaboration between Esvagt and KMC Line, formalized through the signing of the letter of intent, is aiming to unlock the considerable potential in South Korean offshore wind industry.Combining the two shipping companies' respective strengths is the new partnership's strongest card to secure a significant market position in the developing offshore value chain in the country…

27 Feb 2024

Houthis Say They Can Reassess Red Sea Attacks if Israeli 'Aggression' Stops

(Photo: Screenshot from video shared by Yemeni Armed Forces)

Yemen's Houthis said on Tuesday they could only reconsider their missile and drone attacks on international shipping in the Red Seaonce Israel ends its "aggression" in the Gaza Strip.Asked if they would halt the attacks if a ceasefire deal is reached, Houthi spokesman Mohammed Abdulsalam told Reuters the situation would be reassessed if the siege of Gaza ended and humanitarian aid was free to enter."There will be no halt to any operations that help Palestinian people except when the Israeli aggression on Gaza and the siege stop…

26 Feb 2024

Many Different Vessels but One Goal – Passenger Safety

© Olivier / Adobe Stock

Because there are so many different kinds of passenger vessels, the critical topic of passenger safety can sometimes appear as a set of niche topics, each one just distantly connected to another. After all, passengers aboard a cruise ship in the Caribbean face safety issues that are much different than a commuter going from Jersey City to Manhattan or a tourist crossing from the Mukilteo, Wash. ferry terminal to Whidbey Island or a family on a fishing vessel in Miami.Importantly, though, for passenger vessel operators, a commitment to safety is not siloed.

21 Feb 2024

BIMCO Publishes Quiet Enjoyment Letters

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BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the charterers’ uninterrupted use of a ship if the owner defaults under the financing facility. The QELs will be provided by the lender to the charterer to ensure that the charterer, who does not have a contractual relationship with the lender but only with the owner, can continue to “quietly enjoy” the ship in case of the owner’s default.

14 Feb 2024

Diana Shipping Orders Two Methanol Dual-fuel Bulkers

© Björn Wylezich / Adobe Stock

Greek shipowner Diana Shipping on Wednesday announced it has placed an order for two new methanol dual-fuel Kamsarmax bulk carriers from China's Tsuneishi Group (Zhoushan) Shipbuilding Inc.The 81,200 dwt newbuilds were ordered at a purchase price of $46 million each, Diana said. The vessels are expected to be delivered by the second half of 2027 and the first half of 2028, respectively.Diana in September 2023 announced it signed a letter of intent (LOI) to order the ships through…

12 Feb 2024

MARAD’s Title XI Changes: Good News for Offshore Wind?

© Maxim Khalansky / Adobe Stock

The U.S. Department of Transportation's Maritime Administration (MARAD) in December issued a final rule updating its financial requirements for the Federal Ship Financing Program, commonly referred to as Title XI. While the move applies to the U.S. maritime industry as a whole, it is seen as especially helpful for players looking to serve the U.S. offshore wind sector.Designed to promote the growth and modernization of the U.S. merchant marine and U.S. shipyards, Title XI provides for a full faith and credit guarantee by the U.S. government. The program essentially aims to encourage U.S.

07 Feb 2024

Australian Welfare Organizations Call for Suspension of Live Animal Exports

Source: Animals Australia

The Australian Alliance for Animals has written an open letter to animal exporters imploring them to voluntarily suspend all live animal exports to or through the Red Sea while the risk of attack remains and to suspend any extended journeys to the Middle East via the Cape of Good Hope.The move follows the recently aborted voyage of the Bahijah. The livestock carrier sailed from Australia for Israel on January 5 but was recalled over a week into the voyage after diverting towards…

06 Feb 2024

Siem Offshore Inks $682M Long-Term Deals for Two Well Intervention Vessels

(Credit: Helix Energy Solutions)

Oslo-listed offshore vessel owner Siem Offshore has secured long-term contracts with Helix Energy Solutions for two of its Siem Helix well intervention vessels.The contracts, valued at a total of $682 million, follow the letter of intent the companies announced in November 2023.The new contracts for Siem Helix 1 and Siem Helix 2, effective from January 1, 2025, and January 1, 2026, respectively, replace existing agreements and ensure firm utilization for these key vessels until at least 2030.With a duration of 6 years for each vessel…

29 Jan 2024

Saltchuk Takes Anther Run at OSG Takeover

FILE PHOTO: The Greenbrier Companies, Inc.

Seattle-headquartered Saltchuk Holdings has renewed its bid to take over Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—OSG’s largest shareholder—had previously offered to acquire OSG in June 2021 but suspended those discussions several months later, citing pandemic-related market uncertainties.OSG, which operates U.S.-flag tankers and articulated tug barges (ATB), on Monday confirmed its board of directors…

26 Jan 2024

Congressmen Urge FMC to Finalize OSRA Provisions

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Two U.S. Congressmen are urging the Federal Maritime Commission (FMC) to finalize the rule on demurrage and detention billing requirements required in their Ocean Shipping Reform Act that became law in 2022.The Ocean Shipping Reform Act was signed into law on June 16, 2022 and provides authority to the FMC to investigate ocean carriers’ business practices and apply enforcement measures following the unreasonable refusal of American exports throughout the COVID-19 pandemic.In January 2023, U.S.

24 Jan 2024

US Navy Intercepts Missiles in Red Sea While Escorting Maersk Ships

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Maersk said explosions nearby forced two ships operated by its U.S. subsidiary and carrying U.S. military supplies to turn around when they were transiting the Bab al-Mandab Strait off Yemen, accompanied by the U.S. Navy."While en route, both ships reported seeing explosions close by and the U.S. Navy accompaniment also intercepted multiple projectiles," Maersk said in a statement, adding it was suspending Red Sea transits by vessels of the U.S. subsidiary.A spokesperson for Yemen's Houthi military forces said they fired ballistic missiles at several U.S. warships that were protecting two U.S.

12 Jan 2024

APM Terminals to Develop Container Terminal at Plaquemines Port

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Plaquemines Port Harbor and Terminal District announced it signed a letter of intent (LOI) with APM Terminals (APMT) to build a container terminal on the West Bank of Plaquemines Parish, La.Plaquemines Port will lease the land to APM under a 30-year agreement with extension options. APMT, one of the largest terminal operators in the world and is a subsidiary of shipping giant A.P. Moller-Maersk, estimates the initial investment in terminal infrastructure will be approximately $500 million…

13 Dec 2023

FPSO Atlanta Prepped to Join Yinson Fleet in '24

Yinson Production officially named its latest addition to the fleet, FPSO Atlanta, during a naming ceremony held at Dubai Drydocks World on December 13, 2023. Image courtesy Yinson Production

Yinson Production officially named its latest addition to the fleet, FPSO Atlanta, during a naming ceremony held at Dubai Drydocks World on December 13, 2023.FPSO Atlanta has a production capacity of 50,000 BOPD and a maximum storage capacity of 1,251,000 bbls. It will feature a carbon management process plant, which uses fuel gas for cargo tank inertization that will significantly reduce flare gas emissions through a closed flare system.Yinson Production and Enauta entered into…

29 Dec 2023

Esgian: New Contracts, Drilling Activities and Rig Moves Across the World

Borgland Dolphin drilling rig (Credit: Dolphin Drilling)

Esgian's last roundup of the year for the Week 52 puts spotlight on new developments for Dolphin Drilling semisub, Seadrill drillships, as well as Shell’s plans for Australia and ONGC’s new tender for jackups in India.ContractsDolphin Drilling has signed a Letter of Intent (LOI) with an undisclosed operator for the 1,500-ft semisubmersible Borgland Dolphin to undertake a 500-day drilling campaign in the UK. The drilling campaign is planned to begin directly after the firm part of the contract period with EnQuest, which was announced in late November 2023.

30 Nov 2023

MPA and IACS Collaborate on Maritime Initiatives

Source: MPA

The Maritime and Port Authority of Singapore (MPA) and the International Association of Classification Societies (IACS) have signed a Letter of Intent (LOI) to collaborate on various maritime digitalization and decarbonization initiatives.The LOI was signed by Teo Eng Dih, Chief Executive of MPA, and Nick Brown, Council Chairman of IACS, at the sidelines of the 33rd session of the IMO Assembly in London this week.Under the LOI, both parties will consider the development of technical standards and unified requirements to ensure that new maritime solutions are safely implemented.

20 Dec 2023

What Do MARAD Title XI Changes Mean for Offshore Wind?

The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices. In particular, the amendments aim to move away from inflexible static metrics and Title XI’s limited amortization requirements. The amendments respond to concerns that previous terms acted as a barrier to some companies seeking to apply for Title XI support.

08 Dec 2023

The Curious Case of the 1,200 MW Transmission Size “Limit” in New England

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How the Maximum Contingency of 2,200 MW Was Recast to a 1,200 MW CeilingAs policy makers and energy developers look to develop and interconnect large offshore wind projects in the most economically efficient and least environmentally impactful way, an issue has developed. A relatively recent limit, set in place by the grid operator in New England in a planning process document, states that no single system loss of energy, or “contingency”, can be larger than 1,200 megawatts (MW). This 2016 addition to ISO New England’s (ISO-NE) Planning Procedure No.