NYK in Charter Agreement with Mitsubishi
Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed long-term contracts with Diamond Gas International Pte. Ltd. (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers.Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC.The NYK Group will be responsible for ship management for the three ordered LNG carriers…
Crude Oil Spill Near Port Sulphur, La.
The U.S. Coast Guard said on Sunday it is responding to a crude oil discharge in Rattle Snake Bayou, southwest of Port Sulphur, La.Coast Guard watchstanders in New Orleans received a report from the National Response Center that the well was reported to be leaking.It is unknown when the discharge began, and the amount discharged has not been determined. The well is rated to produce 5,476 gallons of oil per day.Responders are working to locate and secure the source of the discharge. The well's owner Hilcorp has contracted ES&H as an oil spill response organization.
GREAT WORKBOATS: The Very Best 10 of 2018
MarineNews showcases the ten best of North America’s 2018 workboat deliveries. Domestic shipyard production is robust, innovative and getting greener. And, that translates into two kinds of ‘green.’As the domestic offshore energy support sector slowly awakens, other sectors have been happy to take the spotlight in its absence. As always, and if a hull was delivered in 2018, we took a look at it, with several areas as a focus for inclusion into this edition. For my part, I’m always excited when the U.S. boatbuilding sector can deliver for a foreign buyer. We’ve checked that box here.
The Top 10 Maritime Stories for 2018
Choosing the ‘top stories of 2018’ was, this year, a difficult task. Many compelling story threads played out, dramatically impacting the North American waterfront, and in particular, the workboat sector – each in their own unique way. Read on to find out how and why.Autonomous Vessels: Ready or Not, Here They ComeFuturistic, remote-controlled autonomous marine vehicles aren’t coming. They are here. As the pace of change quickens, autonomous vessels are already providing service and value on the water.
Arlen "Benny" Cenac Jr.: Navigating a Different Course Line, Making a Difference
Cenac Marine Services and its dynamic, third generation leader, Arlen “Benny” Cenac Jr., continue to flourish, in good times and bad. Through it all, leadership, philanthropy and investments that extend far beyond the company’s gates have made all the difference.As this year quickly churns to its inevitable close, Cenac Marine Services isn’t the nation’s biggest towboat operation, but its profound impact on the people and environment of the U.S. Gulf Coast and beyond is unquestionable.
Vessel arrives at Cheniere's Corpus Christi LNG Plant
A liquefied natural gas (LNG) vessel, the Maria Energy, arrived at Cheniere Energy Inc's $15 billion Corpus Christi LNG export facility in Texas on Saturday, according to Reuters vessel tracking data.This is the second vessel to visit Corpus since Cheniere started producing LNG in November at the plant's first liquefaction train, a building-sized unit used to cool natural gas into LNG. It could be the first vessel to pick up a cargo there.Cheniere said the first vessel, LNG Golar Tundra, did not pick up LNG.
Humphree: Steady as She Goes
Humphree makes inroads in North American markets with vessel stabilization technology.If you haven’t yet heard of Humphree – the Sweden-based supplier of vessel stabilization systems – then, more than likely, that’s about to change. The firm’s penetration into the North American commercial and leisure marine market has seen its equipment on several vessels, including high-profile deployments like the new Seastreak high-speed commuting ferry.Founded in 2002 by a team of hydrodynamic and marine engineers…
Bechtel, Cheniere Fires Up Corpus Christi LNG Production
The the largest construction company in the United States Bechtel has joined its customer Cheniere Energy to announce production of the first liquefied natural gas (LNG) from the Corpus Christi Liquefaction project in Texas.The leader in project management, engineering, procurement, and construction said in a press release that this production train at the Corpus Christi project is the latest of six trains that Bechtel has delivered with Cheniere at two sites on the U.S. Gulf Coast.The Sabine Pass Liquefaction project in Louisiana produced the first LNG from that site’s fifth train last week…
Cruise Shipping: Sunstone Sells Victory Cruise Lines
SunStone Ships, Inc. sold Victory Cruise Lines to the American Queen Steamboat Company (AQSC). After rapidly expanding market share in the Great Lakes, French Canada, and St. Lawrence Seaway, Victory became the market leader in these regions. Having recently added the VICTORY II, afforded AQSC the opportunity to acquire the largest capacity in the region.AQSC will acquire the VICTORY I and VICTORY II cruise vessels, as well as some assets in connection herewith, among them being the Victory brand, all Great Lakes charters, group bookings, individual passenger reservations, and related assets.
Construction Starts on OSU's Research Ship
Construction of a new Oregon State University (OSU) bound research ship that will advance the science of coastal environments, and support research on topics such as ocean acidification, hypoxia, and sea level rise, officially began today at Gulf Island Shipyards in Louisiana.Officials from OSU the National Science Foundation (NSF) and Gulf Island Shipyards LLC gathered at the shipyard in Houma, La. for the keel-laying ceremony, marking the start of fabrication of the state-of-the art ship.
Sempra Energy Signs New Mexican LNG Terminal
Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming reality as the natural gas utilities holding company announced agreements with three international firms.The San Diego-based company announced in a press release that that its subsidiaries Infraestructura Energetica Nova (IEnova) and Sempra LNG & Midstream have signed three Heads of Agreements (HOAs) with affiliates of Total, Mitsui & Co. and Tokyo Gas Co.
BP Completes $10.5-billion BHP Billiton Acquisition
London-based BP Plc BP has completed the $10.5-billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S. onshore oil and gas portfolio, in a move that upgrades and repositions its American onshore business.The portfolio includes assets in the highly-prized Permian-Delaware basin in Texas, along with two premium positions in the Eagle Ford and Haynesville basins in Texas and Louisiana (see map, below).The assets currently produce 190…
Rowan Reliance Awarded Fieldwood Contract
Offshore drilling contractor Rowan Companies plc announced Monday that its drillship Rowan Reliance has been awarded a contract in the U.S. Gulf of Mexico by Fieldwood Energy LLC.The contract is for a firm term of one year plus three 90-day options, and is expected to commence the first quarter of 2019. The R-Class ultra-deepwater Rowan Reliance is currently warm stacked offshore Louisiana in the U.S. Gulf of Mexico.Tom Burke, Rowan's president and CEO, said, "We are excited to continue our long-standing relationship with Fieldwood…
Metal Shark Open for Business in Alabama
Metal Shark announced it has secured a contract to build three 120’ x 35’ river towboats for Florida Marine Transporters, Inc. (FMT), signalling the U.S. shipbuilder’s entry into the towboat market.The four-decked, welded-steel, USCG Subchapter “M”-compliant towboats were designed by John W. Gilbert Associates, Inc. and will be powered by twin Cat 3512C Tier 3 marine diesel engines rated at 1,911 HP each. Construction is underway at Metal Shark Alabama, with deliveries commencing in 2019.With the FMT contract…
POTAC Signs Dock Usage Pact with Port of Corpus Christi
POTAC (Pin Oak) announced the execution of a ten year exclusive use agreement for Suezmax vessels at Public Oil Dock 14 with the Port of Corpus Christi, including extension options, exercisable by the Company, which could extend the agreement for up to an additional ten years.In addition to Suezmax vessels, Pin Oak will be able to efficiently load / unload Aframax, Panamax, and other smaller vessels and barges. This agreement follows the commencement of construction on Pin Oak's nine pipelines crossing under the Corpus Christi Ship Channel…
LNG Carrier Marvel Eagle Delivered to Mitsui
Japan's Mitsui OSK Lines (MOL) announced the delivery of the 155,000 cubic meter capacity liquefied natural gas (LNG) carrier Marvel Eagle to Mitsui & Co.Before the delivery, on September 5, a naming ceremony was held at the Kawasaki Heavy Industries, Ltd. Sakaide Shipyard before a large crowd of onlookers and representatives of the companies involved.The 299.9-meter vessel is the first of three newbuilding LNG carriers, for which MOL and Mitsui & Co., Ltd. signed charter contracts in September 2014 and January 2015.
US Oil Exports to Asia May Slide Further
Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year, multiple trade and shipping sources said on Thursday.Freight rates for tankers that carry crude oil have soared globally, buoyed by peak seasonal demand, weather disruptions and higher bunker fuel costs, the sources said.The cost of chartering a Very Large Crude Carrier (VLCC) capable of carrying 2 million barrels of crude from the U.S.
HHI to Build FPS for LLOG Exploration
South Korean shipbuilder Hyundai Heavy Industries (HHI) has been awarded a contract to build a floating production system(FPS) for LLOG Exploration of the U.S..HHI, the world's biggest shipbuilder by orders, said in a stock exchange announcement that the offshore facility order is worth $454 million from the Louisiana-based, privately-held LLOG Exploration.The floating production storage and offloading unit would be constructed from August next year after a year-long design for completion and delivery in the first half of 2021.LLOG Exploration Company…
INSIGHTS: Thomas S. Chance, Chief Executive Officer, ASV Global
Thomas Chance founded C & C Technologies in his home in 1992. Today C & C is a global oil field surveying and mapping company with more than 550 employees in ten offices worldwide. C & C was the first company in the world to offer autonomous underwater vehicle (AUV) survey services to the oil industry and remains a world leader in the field. In April of 2015, he sold C & C Technologies to Oceaneering International. Complementing the autonomous underwater vehicle business, Mr. Chance started Autonomous Surface Vehicles, Ltd., or ASV, in 2010.
Avondale Yard to Be Repurposed as a Multimodal Hub
The former Avondale Shipyard facility in Louisiana will be redeveloped into a logistics and intermodal hub under a joint venture group that took ownership of the shuttered shipyard today.The Avondale site, located just upriver from New Orleans, built and repaired commercial and military vessels for more than 75 years, most recently as part of Huntington Ingalls Industries’ (HII) Ingalls Shipbuilding division, until the facility ceased operations in December 2014.New development plans announced today will see the 254-acre site repurposed as a multimodal…
Cheniere Inks 15-year LNG Sales Pact with Vitol
Cheniere Energy Inc said on Monday that it signed a 15-year agreement to supply liquefied natural gas (LNG) to the world's largest oil trader, Vitol Inc.Cheniere said it will sell 700,000 tonnes of LNG every year to Vitol, starting 2018 and the purchase price will be pegged to the Henry Hub monthly average, plus a fee.The United States has become a major LNG exporter in the last two years, mostly due to the ramp up of Cheniere's Sabine Pass terminal in Louisiana. Houston-based Cheniere is also building the Corpus Christi terminal in Texas.
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…
Apples and Oranges When it Comes to Vessel Finance
Companies, lenders, and their auditors worldwide need vessel appraisals that can be relied upon when put into legal documents. As the offshore energy support markets awaken, this is more important now, than ever.While a great deal of shipping finance is done at a 10,000' level, with bond deals and equity swaps, the value of the assets found on ground level are still very important. There are taxation issues, insured value, public reporting, and allocation of purchase price, where the value of individual vessels is important.