Mining News

11 Jan 2019

Diesel Futures Project Slowdown in 2019: Kemp

© ronniechua/AdobeStock

By the end of last year, hedge fund positions in diesel had fallen to a level normally associated with a sharp slowdown in economic growth if not an outright recession.Most middle distillate fuels such as diesel, gasoil and jet fuel are consumed in freight transport (ships, trucks, railroads and air cargo) as well as manufacturing and mining.Middle distillate consumption and prices are therefore more closely tied to the state of the economy than other refined fuels such as gasoline.

27 Dec 2018

Damen Snags Year-End Contract from EMAR Offshore

Johan van Beek, managing director EMAR Offshore Services, Vincent de Maat, sales manager Damen and Wilbert Versteeg, commercial director EMAR Offshore Services, during the contract signing for a Damen ASD Tug 2811.  Photo: Damen

EMAR Offshore Services placed an order for a Damen ASD Tug 2811, a stock vessel to be named E-TWO and delivered in Q1 2019 after an additional FiFi1 system and aft winch are installed.The ASD Tug 2811 is one of Damen’s ‘next-generation’ harbor tugs, announced in 2018. An upgraded version of the ASD Tug 2810, it has been optimized for the decade ahead with features that include full compliance with the new stability regulations, a modular marine NOx reduction system and the Damen Digital Platform to maximize performance and reliability.

19 Dec 2018

President Energy Strikes Oil in Argentina

Image: President Energy

UK-based oil and gas company President Energy President Energy has encountered oil in the third and final well of its current drill programme at the Puesto Flores concession in Argentina.Well PF0 1005 has been drilled, logged, cased and cemented to 2,360 metres both on time and on budget, the company focusing primarily on high margin production opportunities in Latin America said.Both the Punta Rosada primary target and the Lotena formation secondary target resulted in good oil…

18 Dec 2018

French Frigate Shoals: A Canary in the Coal Mine

© cartoonresource/Adobe Stock

French Frigate Shoals are located in the northwestern Hawaiian Islands, between Kauai and Midway. The atoll consists of a twenty-mile long crescent-shaped reef, with 13 coral and sand islands and the 120-foot high volcanic rock Perouse Pinnacle, named for French explorer Jean-Francois de la Perouse, who charted the atoll in 1786 and nearly grounded his two frigates. Tern Island is the largest, covering 105,276 square meters or 26 acres. Second largest is (or was) East Island, with 35…

05 Dec 2018

India Plans Deep Dive for Seabed Minerals

© Mykola Mazuryk / Adobe Stock

In the 1870 Jules Verne classic "20,000 Leagues Under the Sea", underwater explorer Captain Nemo predicted the mining of the ocean floor's mineral bounty - zinc, iron, silver and gold.India is catching up with that only now, as it prepares to unearth treasures down below, aiming to boost its economy.The floor of the world's seas is scattered with vast beds of black potato-shaped polymetallic nodules comprising copper, nickel, cobalt, manganese, iron and rare earth elements.These natural goodies are key to making modern gadgets…

04 Dec 2018

Rising Ship Supply Eases LNG Charter Rates

File Image: a fully laden LNG tanker transits the Med in this recent image. Credit: Robert Murphy

Limited availability drove LNG shipping rates to highs; but prices now falling as more ship supply becomes available.Inflated spot charter rates for liquefied natural gas (LNG) tankers are easing as more ships becoming available, which could help increase LNG trade if Asian demand rises in coming months.LNG charter rates are a key component of spot LNG trade, dictating the way the super-cooled gas is transported. Charter rates usually follow the price of LNG, which has fallen since September due to sluggish demand from Asian buyers.Rates have remained high for most of this year…

03 Dec 2018

Nautilus Minerals to Acquire Production Support Vessel

Image: MAC Goliath Pte Ltd

The underwater mineral exploration company headquartered in Toronto Nautilus Minerals Inc. is currently negotiating the terms of an agreement with arm's length third parties that would involve the creation of a new joint venture company - Vessel JV - to be owned by the third parties and Nautilus’ subsidiary, Nautilus Minerals Niugini Limited (NMN).The purpose of the Vessel JV would be to fund the acquisition of the Production Support Vessel (PSV) that Nautilus had previously arranged…

20 Nov 2018

Scandium International Signs LoI with Austal

Image: Austal

Scandium International Mining announced that it has signed a Letter of Intent (LOI) with Austal, to test scandium-containing aluminum alloys in marine applications.Austal is an Australian-based global shipbuilding company that specializes in the design, construction and support of both defense and commercial vessels. Austal is the world’s largest aluminum shipbuilder and Australia’s largest defense exporter.The LOI calls for the Company to contribute various aluminum alloy samples containing scandium…

09 Nov 2018

DSC Dredge CEO Wetta Delivers Ghana Fact-Finding Trip Report

Bob Wetta, President and CEO of DSC Dredge LLC, right, with U.S. Commerce Secretary Wilbur Ross during PAC-DBIA. (Photo: DSC Dredge)

As a member of the President’s Advisory Council – Doing Business in Africa (PAC-DBIA), Bob Wetta attended the September 26, 2018 Fact-Finding Trip Report meeting in Washington, D.C., with U.S. Secretary of Commerce Wilbur Ross and 13 other U.S. Government officials. Their purpose was to deliberate and adopt the final report of the 2016-2018 term of the PAC-DBIA. Prepared by IBM’s Takreem El-Tohamy, but unfortunately unable to attend the meeting, Bob Wetta presented the Ghana information…

08 Nov 2018

Smit Lamnalco Takes Delivery of Two Tugs

Photo: Damen Shipyards Group

Shipbuilder Damen said it has delivered the third and fourth units in a four-vessel contract to leading towage company Smit Lamnalco. All four vessels are Damen’s ASD Tug 3212 class with a bollard pull of 80 metric tons. The order was placed in November 2017 and, with stock boats available, the first two were delivered in June and these latest arrivals in October.The SL Thunggun and SL Irrong have arrived at Darwin in Australia’s Northern Territory and will shortly be heading east to the Weipa bauxite mine on the Cape York Peninsular, Queensland.

29 Oct 2018

Rio Tinto: Autonomous Ships "Not Far Off"

Ship being loaded at Rio Tinto Weipa operations with bauxite stockpiles in the background. Copyright © 2018 Rio Tinto.

Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday.The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented the copper price, and is struggling to win investor trust.In a copy of a speech to be delivered at a conference in Melbourne on Tuesday…

25 Oct 2018

Jacobs Sells ECR Division to WorleyParsons

Pic: WorleyParsons

Australia's WorleyParsons has entered into a binding agreement to acquire US contractor Jacobs Engineering's  Energy, Chemicals & Resources (ECR) division, a leading global technical services provider across Hydrocarbons, Chemicals and Mining & Minerals.ECR has a global footprint with long-term, blue-chip relationships in key strategic markets, most notably the US, Canada, the Middle East and India. The business has more than 30,900 employees in 27 countries.Jacobs ECR is ranked number one globally for its delivery of complex petrochemical and chemical projects…

10 Oct 2018

Liquefaction and Lost Bulk Carriers: Is a Design Change Warranted?

Image: © Amarinj/AdobeStock

A shocking number of bulk carriers (as well as a few OBOs – ore/bulk/oil carriers) have been suddenly and catastrophically lost at sea in the last 30 years. Following are the names of some of those vessels, in alphabetical order:- Asian Forest (2009); - Black Rose(2009); - Bulk Jupiter (2015); - Derbyshire (1980); - Emerald Star (2017); - Harita Bauxite (2013); - Hong Wei (2010); - Hui Long (2005); - Jian Fu Star (2010); - Nasco Diamond (2010); - Stella Daisy (2017); - Sun Spirits (2012); - Trans Summer (2013); and - Vinalines Queen (2011).

05 Oct 2018

The Drones are Coming

An ABS technician with a drone. Source: ABS

Nimble and quick, unmanned aerial vehicles have evolved into a valuable tool for marine and offshore applications.When a U.S. oil tanker conducts a Critical Area Inspection Plan (CAIP) as required by ABS, it is an onerous process. For example, each tank requires seven days of set up with scaffolding and staging. An ABS inspector and UDT technicians must access, and be carefully lowered into the tank with instrumentation and tools. Inspection points in far reaching places are surveyed.

13 Sep 2018

ATCO Buys 40% Stake in South American Port

Neltume Ports, a subsidiary of Ultramar, operates in 16 port facilities and three stevedoring businesses primarily located in Chile and Uruguay. Photo: ATCO Ltd.

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…

13 Sep 2018

Damen Supplies Submersible Dredge Pump in Brazil

(Photo: Damen)

Brazilian civil engineering contractor has taken delivery of a new submersible dredge pump for creating an access channel into the sea for a new power plant currently under construction.The Damen DOP150 dredge pump is now in operation, creating the access channel for a critical pipeline for the plant’s cooling system and when completed it will extend 600 meters out into the sea. Over the course of the project the DOP150 is expected to remove around 30,000 cubic meters of material.The Damen DOP150 is being used to extract sand in the surf zone, varying in density from loose to medium fine.

05 Sep 2018

ICS-UN Negotiation on Future Ocean Governance

Image: United Nations

International Chamber of Shipping (ICS) is representing shipowners at the start of a major negotiation to agree a new legal instrument for the protection of the ocean under the UN Convention on the Law of the Sea (UNCLOS) – which will apply to ‘high seas’ areas ‘beyond national jurisdiction’.Addressing government negotiators in New York today (5 September), ICS Chairman, Esben Poulsson, highlighted the need to ensure that this UN initiative will not “unwittingly” impact on the effective future governance of global shipping…

30 Aug 2018

APM Terminals Uses Drones

Photo: APM Terminals

At APM Terminals' inland services facilities in San Antonio and Santiago, Chile, safety supervisors previously monitored activities on the ground. Now the latest technology is enabling their work to be done more effectively and safely.APM Terminals is amongst the first to use drones for security and to drive operational efficiency.The drones are clearly visible in the air above the facilities, moving about their various tasks. “Our safety supervisors are the ones tasked with keeping the people and activities at our facilities safe…

28 Aug 2018

Finland: A Hot-Bed of ICEBREAKER Technology

In 2016 the most recent Finnish icebreaker, Ib Polaris, was built at a cost of EUR123m. Arctia Ltd. received an LNG fueled double-acting PC4 class icebreaker capable of penetrating 1.8m thick level ice with a speed of 3.5 knots. Photo: Tuomas Romu and Arctia Ltd.

Finland is a traditional marine tech hub, with almost 90 company members in the Finnish Maritime Industries association. While the country has a storied maritime history across many sectors, based on geographic locale, it’s Arctic and ice marine technology is second to none, and it’s hoping the U.S. Coast Guard is taking notice.The Finnish maritime industry is hoping to get involved in developing the new icebreakers for the U.S. Coast Guard polar icebreaker program. Ulla Lainio…

26 Aug 2018

Egina FPSO Sails to Offshore Field

Egina. Photo: Total

The $3.3 billion Floating Production Storage Offloading (FPSO) unit built by Samsung Heavy Industries of Korea (SHI) for the 200,000 barrels per day capacity Egina oilfield began to sail to the oilfield Sunday, reports local media.Following fabrication and integration works in Lagos, the FPSO will arrive in three days’ time at the Egina oilfield located in Oil Mining Lease (OML) 130, which is being developed at the cost of $16 billion by the French oil major, TotalT.Nicholas Terraz…

23 Aug 2018

Scott Phillips Appointed Hiab President

Scott Phillips. Photo: Cargotec

Scott Phillips has been appointed President of Hiab crane manufacturing division of Cargotec group as of 1 October 2018. He will be a member of the Cargotec Executive Board and report to CEO Mika Vehviläinen. Scott Phillips joins Cargotec from General Electric where he holds the position of Vice President and CEO Mining. Prior to that, he has during his 28 years' career held various global leadership positions in the construction and mining industries, working for Sandvik and Caterpillar Inc., among others. "I warmly welcome Scott to Cargotec and Hiab.

22 Aug 2018

New Gensets for De Beers’ Diamond Mining Vessel

Mining vessel Debmar Pacific departing from Cape Town, outfitted with new Wärtsilä gensets (Photo: Wärtsilä)

Wärtsilä and De Beers Marine have signed an agreement for the replacement of generating sets aboard De Beers’ diamond mining ship Debmar Pacific. The vessel, originally built in the 1970s, will be outfitted with new Wärtsilä gensets to extend its lifetime and improve reliability.Debmar Pacific is engaged in diamond mining operations off the coast of Namibia. With modern gensets, the lifetime of the vessel is extended and its specific fuel oil consumption (SFOC) is reduced. In addition…

16 Aug 2018

Shipbuilding: Oman Drydock CEO Aims to Triple Revenue by 2021

"I’m looking for go-getters. I’m looking (for the types of people) from the ‘wild west’ bars, the kind that kick the doors open with their boots and get to work."
Said bin Homoud Al Maawali, CEO, Oman Drydock Company (ODC). Photo: ODC

Said bin Homoud Al Maawali, CEO, Oman Drydock Company (ODC) means business when he aims to triple revenue by 2021, but it’s anything but business-as-usual at ODC. A neophyte to the shipyard world, he is a veteran business man with a long resume in multiple industries, a turnaround specialist. He sees potential at ODC, but bigger picture, he sees the shipyard as a means to help Oman broaden its business and revenues outside of the traditional energy industry.As the global shipbuilding community shakes off a historic slump, new thinking is creeping into a space steeped in tradition.

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News