QP Launches Tender for 100+ LNG Carriers
Middle East natural gas giant Qatar Petroleum (QP) issued an invitation to tender for the reservation of ship construction capacity required for a fleet of over 100 liquefied natural gas (LNG) carriers.The world’s largest LNG producer said in a statement that the vessels will serve QP’s North Field Expansion (NFE) project which will increase Qatar’s LNG production capacity from 77 million tons per annum (mta) to 110 mta starting in 2024.In addition to addressing shipping requirements for the North Field Expansion Project…
Oman LNG Settles $2bln Loan in Advance
Oman Liquefied Natural Gas LLC has announced that it has successfully repaid its US$2 billion loan facility obligation ahead of schedule, saving interest costs.According to Oman News Agency, the move is part of the company’s ongoing efforts to reduce financial costs and support Oman’s credit rating.The agency quoted Dr Mohammed bin Hamad al Rumhi, Minister of Oil and Gas and chairman of Oman LNG, as saying: “The early repayment of the loan by Oman LNG demonstrates the financial robustness of the company and confidence in the oil and gas industry and Omani economy at large.
Oil Spill Dispersant Market to Reach $23.6bln by 2026
The global Oil Spill Dispersant Market is anticipated to grow at a constant CAGR around 3% during the forecast period 2019 to 2026 and reach the market value around USD 23.6 billion.The growth of the market for oil spillers depends directly on the frequency, the time and volume of petroleum spill events, said a market report by Acumen Research and Consulting.Oil pollution is a common term for seawater, land water or land contamination due to oil release due to an accident or human error. Oil contamination is spread throughout the world and is boiled both onshore and offshore.
Tristar Orders Six Tankers at Hyundai Mipo
The Dubai-based Tristar Group announced that it has signed firm contracts for six new build 25,000 MT DWT, IMO Type 2 Oil and Chemical Tankers with South Korea shipbuilder, Hyundai Mipo Dockyard.The vessels will be delivered between the middle of May 2020 till the first week of January 2021, said a press release from the fully integrated liquid logistics solutions provider.The vessels have been ordered on the back of long-term charter contracts with oil major Shell.“Our business…
Bahri Expands Footprint in Asia-Pac
The National Shipping Company of Saudi Arabia (Bahri) has announced the expansion of its market presence in the Asia-Pacific (APAC) region’s maritime industry.The stronger presence will help the company gain deeper insights into market trends as well as customer needs in chemicals and logistics sectors in Singapore and the wider APAC region, said a press release from the logistics and transportation company.The expansion will also enable Bahri Logistics and Bahri Chemicals, two of five business units of the company…
Shell Quits Gazprom-Led Baltic LNG Project
Royal Dutch Shell has decided to withdraw from the Baltic liquefied natural gas (LNG), its joint project on the Russian Baltic coast with Gazprom after the Russian gas holding decided to change the concept of the project’s development.“Following Gazprom’s announcement on March 29 regarding the final development concept of Baltic LNG, we have decided to stop our involvement in this project,” Cederic Cremers, Shell Russia’s chairman, said in a statement.According to Reuters, the…
Singapore Remains Top Maritime Capital
Singapore has been ranked the world's top maritime capital for the fourth consecutive time in the Leading Maritime Capitals of the World (LMC) report. The Leading Maritime Capitals report for 2019 is with fresh insight on which maritime metropolises provide the best support for companies in shipping and related services.Criteria include soft and hard infrastructure and access to world-class talent and services – all key components that maritime businesses need to thrive in their chosen locations.Singapore maintained its top position at the head of the 15 leading maritime capitals.
Maersk Expects Tanker Market to Improve
Maersk Product Tankers A/S said that the product tanker market, which was challenging in 2018 is expected to improve from the end of 2019.The company that transports refined oil products through its product tankers vessel fleet said in a press release that while fleet growth had slowed significantly over the previous two years, the market remained heavily oversupplied.Product trade demand growth was positive, but below historical ranges. As a result, product tanker freight rates fell.
IEC Telecom Launches Orion Edge+
IEC Telecom will launch its Orion Edge+ satellite voice and data communication solution during this week’s Sea Asia (April 9 to 11).Orion Edge+ provides high quality, reliable broadband with the ultimate cost effective operational benefits. It also provides flexible data plans with no long-term commitment. This flexibility makes Orion Edge+ ideal for busy offshore support vessels, tugs, and oil and gas contractors.Powered by Thuraya’s Orion IP broadband and Thuraya’s Seastar circuit switched voice terminal…
Platts to Launch Marine Fuel Derivatives Prices
S&P Global Platts will publish assessments for financially settled derivatives contracts that settle against its physical 0.5 percent sulphur marine fuel assessments in Asia, the Middle East, Europe and the United States from May 2, it said.Platts launched physical marine fuel 0.5 percent cargo and barge assessments globally on January 2, 2019.(Reporting by Ahmad Ghaddar; Editing by Jan Harvey)
Christian Andersen Leaves Avance Gas
Avance Gas Holding, a Bermuda-based company engaged in the transportation of liquefied petroleum gas, said that announces Christian Andersen will step down as President.Peder Simonsen (CFO) will serve as interim CEO until a permanent successor is appointed."The Board would like to thank Andersen for his significant contribution to the Company since inception," said a press note.Christian Andersen (born 1960) founded Avance Gas in September 2007 together with Stolt-Nielsen, and was hired as President. Mr.
Wärtsilä, Samsung Heavy Industries Partner
Finland based technology group Wärtsilä and South Korean shipbuilder Samsung Heavy Industries (SHI) will set out to develop more efficient solutions for liquefied natural gas (LNG) carriers and shuttle tanker vessels, under a new joint development project (JDP) agreement signed Wednesday at the LNG19 exhibition in Shanghai.According to Wärtsilä, who issued a press release announcing the agreement on Thursday, the JDP will build on shared knowledge and experience between the two companies. Overall cost optimization, including both CAPEX and OPEX, is among the project aims, it said.
Monjasa Boosts Bunker Volumes by 17%
Global bunker company Monjasa Group boosted sales volume in 2028 reaching 4.1 million metric tonnes of marine fuels, up 17% over its previous year figure of 3.5mt.Despite a continuously challenged maritime shipping industry, 2018 was a good year for the Monjasa. Coupled with the entry of new banking partners and closer relations with oil majors, the Monjasa Group improved its business fundamentals during the year, reporting a positive net result of USD 5mln.Coupled with a higher average Brent oil price of USD 71 per barrel…
LNG Infrastructure Needs More Money: DNV GL
The vast majority (85%) of professionals working in the liquefied natural gas (LNG) sector believe that more investment is needed in LNG infrastructure to satisfy forecasts for growing global demand after 2025.However, more than two-thirds (69%) stated that uncertainty over prices is limiting spending in the megaprojects needed to feed the world’s growing appetite for LNG.A new report published by DNV GL has revealed that the vast majority (85%) of LNG professionals believe several new infrastructure projects will need to be initiated in 2019 to ensure LNG supply can meet demand post-2025.
Trident Opens UAE Diving Center
Trident, a subsidiary of Wärtsilä, is strengthening its underwater-related servicing capabilities with the opening of a new diving center facility in Fujairah, United Arab Emirates. This expansion into a major global shipping region will enhance Wärtsilä’s ability to serve its customers with underwater repairs, refurbishments and maintenance. The UAE center became fully operational in February 2019.Wärtsilä already has strong underwater servicing capabilities in Europe through its acquisition of the Trident Group in February 2018…
Four Dead as Migrant Boat Sinks off Turkey
Four people, including a baby, died early on Tuesday morning when a dinghy carrying migrants sank off the northwestern coast of Ayvacik in Turkey, the Turkish coast guard said.A search and rescue operation ended after the coast guard retrieved the 11 other migrants who were onboard, the coast guard said. Reuters video footage showed the surviving migrants, including at least one child, were later rushed wearing blankets aboard ambulances.The boat was carrying Iranian and Afghan migrants, Hurriyet newspaper reported, citing security sources.Turkey became one of the main launch points for migrants taking the sea route to European Union territory in 2015, many fleeing conflict and poverty in the Middle East and Africa.
Abu Dhabi Ports Clean the Ocean
Safeen, the provider of integrated marine services in the Middle East and subsidiary of Abu Dhabi Ports, has collected over 120 tons of floating sea debris in Abu Dhabi waters last year, recycling more than ten tons of the collected material.Capt. Adil Banihammad, Acting CEO of Safeen, said: “The establishment of the Environment and Anti-Pollution Department at Safeen, under the Marine Services Directorate back in 2015, demonstrates Abu Dhabi Ports’ utmost priority to protect the environment…
2018: Record Year for Port of Antwerp
With a growth of 5.2% in 2018 compared to previous year, the Port of Antwerp has confirmed the earlier forecasts for a 6th consecutive year record."The confirmation of the port's attractiveness and the consolidation of its position as a global player and the largest integrated European chemical cluster are essential to the continuity of its role as the largest economic engine of Belgium. Below you will find the final annual figures for 2018," said a press release from the Europe’s second-largest seaport.The total transhipment in 2018 was 235.2 million tonnes…
EMAR Offshore Welcomes New Harbor Tug
Netherlands-based maritime service company EMAR Offshore Services welcomed a new vessel to its fleet. The Damen ASD Tug 2811, named E-TWO, was ordered in November 2018 with a special request for the installation of an additional FiFi1 system, aft winch and hydraulic crane.This ASD Tug 2811, one of Damen Shipyards Group’s ‘next-generation’ harbor tugs, will be deployed for assisting in the berthing and unberthing of industrial vessels in major ports.Johan van Beek, Managing Director of EMAR Offshore Services…
U.S. Clinches Port Deal with Oman
Tehran has in the past threatened to block the Strait of Hormuz, a major oil shipping route at the mouth of the Gulf, in retaliation for any hostile U.S. action, including attempts to halt Iranian oil exports through sanctions.Still, the U.S. official noted that the agreement would expand U.S. military options in the region for any kind of crisis.Duqm is ideal port for large ships. It is even big enough to turn around an aircraft carrier, a second official said."The port itself is very attractive and the geostrategic location is very attractive, again being outside the Strait of Hormuz," the official said, adding that negotiations began under the Obama administration.COMPETITION WITH CHINAFor Oman…
Royal IHC Bags NMDC Deal
Netherlands-based Royal IHC recently signed a contract with National Marine Dredging Company (NMDC, based in Abu Dhabi, UAE) to build yet another trailing suction hopper dredger (TSHD).The supplier of innovative and efficient equipment, vessels and services for the offshore, dredging and wet mining markets said in a press release that the new vessel builds on the excellent partnership & collaboration between the two companies and on the success of the 6,000m³ TSHD ARZANA, which was delivered by IHC in 2018.In addition…
Wintershall: Expanding Offshore Brazil
BASF's oil and gas subsidiary Wintershall said it would build up its presence in the Brazilian offshore oil sector this year where it won exploration licences in 2018."It is part of our growth course that we are also active in new regions, and Brazil offers great potential," said chief executive Mario Mehren at the company's annual news conference.First results of seismic measurements in three blocks of the Potiguar basin to be operated by Wintershall are expected by mid-2020, he said.Wintershall, which is due to merge with rival DEA in the first half of this year, would also invest in the expansion of gas and oil in its core regions Russia, Norway, Argentina, the Middle East and Germany, he said. (Reuters reporting by Vera Eckert, editing by Riham Alkousaa)
IMO 2020: Shell, HES to Resurrect Refinery
Royal Dutch Shell has struck a deal with Dutch tank terminal firm HES International to partially restart a German oil refinery mothballed since 2011 in response to new restrictions on marine fuels, two trading sources told Reuters.A new cap set by the International Maritime Organization (IMO) that will cut the sulfur content in shipping fuel to 0.5 percent from 3.5 percent from next year is set to be one of the biggest fundamental events to hit oil markets in years.HES Wilhelmshaven Tank Terminal is in the process of reinstalling the vacuum distillation unit (VDU) at Wilhelmshaven to produce low-sulfur bunker fuels ahead of the implementation of the IMO rules…