New Entrants News

A new labor forecasting tool (LFT) is predicting around 16,000 additional workers could be needed in the UK’s offshore wind industry by 2030, and 12,000 extra workers will be needed specifically for carbon capture and hydrogen projects by 2027. It also highlights a significant increase in demand for workers in the West of Shetland oil and gas basin.The new resource, the first of its kind to focus on the engineering construction industry (ECI), provides insights into workforce numbers across regions and sectors…

The U.S. Department of Energy's refusal to grant export permit extensions to liquefied natural gas (LNG) developers that fail to meet a construction deadline poses a new hurdle for greenfield plants, analysts said on Thursday.The DOE last month said it would grant future extensions solely on extenuating circumstances and rejected an extension for Energy Transfer's proposed Lake Charles LNG project.The change will fall heavily on firms without a track record and available financing, analysts said.Around a dozen LNG projects in the U.S.

The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude.As Western shipping and maritime services firms steer clear of Russian oil to avoid falling foul of sanctions or harming their reputations, new companies have leapt into the void, and they're snapping up old tankers that might normally be scrapped.The European Union banned all seaborne Russian crude imports from Dec. 5, with a fuel import ban to follow in February.

The floating offshore wind industry, currently at its beginnings, is set for massive growth in the years to come, which has now led the classification society DNV GL to released the first integrated rule set for floating offshore wind structures."The rules provide both new entrants and experienced stakeholders a set of well-tested rules and standardized processes for these new structures," the company said.According to forecasts in the Carbon Trust’s new Floating Wind Joint Industry Projects report…

Industries are adapting to an increasingly digitalized landscape. The floating production, storage and offloading (FPSO) industry is no different. As concerted efforts are made to improve project economics Matt Tremblay, ABS Senior Vice President, Global Offshore, discusses how digitalization can increase safety, reduce costs, and build robust technical and operational capabilities.No one could have predicted what a challenging year 2020 would become. Offshore production activity fluctuated dramatically with changing market economics and a global pandemic…

The U.S. Department of Transportation’s Maritime Administration (MARAD) said Tuesday it is accepting applications from eligible and qualified institutions to apply for a Centers of Excellence (CoE) designation, which will recognize and support community or technical colleges and maritime training centers that prepare Americans for careers in the maritime industry.“These educational institutions benefit America’s national security and economy by growing and strengthening our maritime workforce,” said U.S. Transportation Secretary Elaine L.

Ocean mapping at scale is the target of a new unmanned systems player started by two ex-US Navy SEALS. They have big ambitions, from new building unmanned vehicles to creating the intelligence that will drive them to changing how accessible ocean data is. Elaine Maslin learned more. The pace of change in the ocean mapping space has been fast in recent years. New entrants have come into the scene offering “force multiplier” mapping using autonomous underwater vehicles (AUVs) and unmanned surface vessels (USVs).

Offshore wind currently represents just a small piece of the world’s energy supply. But that’s changing faster than ever before as new and existing players look to tap the huge resource potential—and market opportunities—being unlocked by shrinking costs and technological advances, as outlined in a recent comprehensive market report.In the coming two decades, the rapidly maturing offshore wind market is expected to become a trillion-dollar business as the pace of installed capacity growth accelerates…

Another year has passed since our last mapping of the maritime software landscape, and it is once again time to review the latest developments and trends in this space.Overall, 2019 was another turbulent year for most shipping markets, overshadowed by preparations for the IMO 2020 sulfur regulations, rising geopolitical tensions, the trade war between the USA and China, as well as natural disasters disrupting global supply chains. This article provides insight into the changes seen in the maritime software landscape under these turbulent conditions: On a high-level…

Shipping directly employs over 640,000 workers at sea and on shore, and supports over 1.4 million workers through indirect and induced employment, said European Community Shipowners' Associations (ECSA).These professionals possess a wealth of maritime knowledge, skills and heritage unique in the world. If Europe is to retain its pre-eminence in global shipping, this know-how needs to be cherished and cultivated.The sector must therefore attract a sufficient number of quality new entrants and retain experienced seafarers, including women seafarers and other under-represented groups.“European shipping and the broader maritime sector are strategically important for the EU – in terms of its contributions to trade, geopolitical role and as an important source of employment.

Sean Dalton, Chair of the Cargo Committee of the International Union of Marine Insurance (IUMI) has said at the organization’s annual conference in Toronto, Canada, that there has been a 2.5 percent increase in 2018 global premiums to $16.6 billion but that this increase was largely attributable to growth in global trade and exchange rate fluctuations. He added that the marine cargo market was in a state of “accelerating change” driven by underwriters taking action to address unprofitable results and to improve performance.Dalton stated: “On a global basis…

Power companies including Ørsted, Vattenfall, Innogy, SSE and Scottish Power and financial investors such as infrastructure and pension funds are active in UK offshore wind power, said Deloitte.Japan, China and other countries in Asia are also showing increasing interest in the market, it said.With natural advantages including a long coastline, high wind speed and areas of shallow seabed providing desirable conditions for the construction of large offshore wind farms, the UK is the world's leading offshore wind power market.There is 7.9 GW of offshore wind capacity in the UK already and the government has set an ambitious target of over 30 GW by 2030. Accounting for 14.7% of the total power generation, offshore wind power has seen substantial growth in the UK.

The International Maritime Organization (IMO) informed that the Sub-Committee on Implementation of IMO Instruments (III) brings together flag, port and coastal States, together with observer delegations, to consider implementation issues.At its sixth session (1-5 July), the Sub-Committee is expected to finalize updates to key instruments which assist in implementation, said the UN body.The key instruments include the updated Survey Guidelines under the Harmonized System of Survey and Certification, the Non-exhaustive list of obligations under instruments relevant to the IMO instruments implementation Code (III Code), and Procedures for port State control…

Transnet National Ports Authority (TNPA) has taken delivery of a new survey craft as the latest acquisition in its Dredging Services division’s ongoing fleet replacement program in excess of $28 million. The vessel, valued at approximately $220,000 was built by a local company in Durban.Carl Gabriel, Executive Manager for TNPA’s Dredging Services division, said the new vessel is replacing the South African port landlord’s existing Survey Craft, Swift, which is 32 years old and…

Another year; another major fleet takeover by Kirby Corporation. But the leader of the inland tank-barge sector is not growing for growth’s sake: a deeper look at the numbers shows a disciplined strategy at work.“Kirby is definitely the big gorilla in the inland barge market,” affirmed Jefferies analyst Randy Giveans. Indeed, Houston-headquartered Kirby Corp has been extremely active buying fleets over the past few years, most recently acquiring the 63 tank barges of Cenac Marine in March for $244 million.

The Green Maritime Methanol (GMM) consortium announced that it has selected nine ships for research on the application of renewable methanol as a marine fuel.New designs, newbuildings as well as existing ships of Boskalis, Van Oord, the Royal Netherlands Navy and Wagenborg Shipping were selected.The vessel sizes vary in length from between 40 - 160 meter, with tonnage ranging from 300 - 23.000 dwt and in installed power from 1 - 12 MW. Research for these ships will start with determination of the cost for implementation and use of methanol fuel systems. The results of this research will be compared with low sulphur marine diesel.Each of the ships has its own specific operational profile…

Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its Seabreeze market report follows this convention with a description of the “feast or famine” conditions in the North Sea. Recent day rate action highlights the localized nature of markets for anchor handlers (AHT), platform supply vessels (PSVs) and similar equipment…

Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa, or 41%, to 54 mtpa in 2018, driven mainly by continued coal-to-gas switching in the industrial, commercial and residential sectors.South Korea, Pakistan, Thailand and Mexico also experienced strong growth in LNG imports during 2018. The outlook remains robust, with Wood Mackenzie forecasting compound annual growth in global LNG demand of 6% between 2018 and 2025.This growth is expected to be broad-based…

A giant vessel docked at the port of Moheshkhali in Bangladesh two months ago, propelling the populous but poor nation into the fast-expanding club of liquefied natural gas (LNG) buyers.The Excellence is the latest floating storage and regasification unit (FSRU), a type of carrier that has proliferated since 2015 as many countries switch to a cleaner and increasingly cheaper fuel than oil and coal.But the young FSRU industry has been beset by more project delays than successes in the past 12 months as fluctuating energy prices…

DNV GL said it has completed a workscope with the European Bank of Reconstruction and Development (EBRD), under funding provided by the EU, to develop guidance for the Greek offshore safety competent authority, Hellenic Ηydrocarbons Resources Management (HHRM), under Greek law 4409/2016 which enacts EU directive (2013/30/EE) on offshore safety. The offshore major hazards guidance was presented to several international and domestic companies and the ministry of environment and energy in Athens, on March 1, 2018. HHRM, as the competent authority, is responsible for the regulation of offshore hydrocarbon operations with regards to major hazards and is responsible for developing the relevant legislative framework for Greece.

The advent of U.S. offshore wind also brings the need for the quality and quantity of built-for-purpose vessels needed to sustain its momentum.As the long-awaited advent of offshore wind finally arrives on this side of the big pond, one question which continues to dominate the conversation is where (and when) the fit-for-purpose tonnage necessary for this great leap forward will come from. Just as important, stakeholders need to have confidence in the availability of proven vessel concepts, as they continue to explore opportunities and justify investment decisions in the growing sector.First Out of the GateRhode Island-based shipyard Blount Boats, in June, announced that it had signed a sublicense agreement with Marine Applied Physics Corp.

Newport Shipping Group has purchased 100 scrubbers from Chinese manufacturer Weihai Puyi Marine Environmental Technology Co, with options for an additional 100 units.Newport, which operates a network of 13 drydocks globally, said the bulk purchase aims to safeguard shipowners against any price hikes or production bottlenecks as demand for scrubbers is expected to increase ahead of the International Maritime Organization (IMO) 2020 sulphur cap deadline.Erol Sarikaya, Newport Shipping Chief Executive Officer…

When it comes to insuring your assets, changing markets and risk variables demand better understanding of the underwriting process, as well as a long-term, stable relationship with an insurer who – like you – is in for the long run.U.S. inventor Thomas Edison once said, “There is no substitute for hard work.” Nobody knows this better than the men and women who operate diverse and industrious workboat fleets.Ferrying commuters, towing dry and liquid bulk, and assisting larger ocean…