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North West Europe News

10 Jan 2024

Chevron Names Yavuz GM for its Global Marine Lubricants

Ayten Yavuz (Photo: Chevron)

Chevron announced it has appointed Ayten Yavuz as the new General Manager, Global Marine Lubricants.Yavuz joined Chevron in 1991 and has held notable positions over three decades at the company. Most recently, Yavuz was the Regional Manager of Chevron Marine Products for North West Europe and the Americas.In her new role, Yavuz will be responsible for charting the course toward profitable growth, innovation and development within the marine business sector, Chevron said. She will…

04 Sep 2023

Aker BP, Höegh LNG in Carbon Transport and Storage Services Pact

Credit: Hoegh LNG

Floating LNG solutions provider Höegh LNG and the Norwegian oil and gas firm Aker BP have entered a strategic partnership to develop a "fully comprehensive carbon transport and storage offering for industrial CO2 emitters in Northern Europe.""The agreement combines the companies’ respective strengths, expertise, and technologies to establish a strong value chain for CCS on the Norwegian Continental Shelf that includes gathering, transporting and securely injecting CO2 for permanent storage in subsea reservoirs…

08 Aug 2023

Damen Delivers New Vessel to Bohlen & Doyen Bau

(Photo: Damen Shipyards Group)

Dutch shipbuilding conglomerate Damen announced it has delivered a new shallow draft vessel to the German energy infrastructure construction company Bohlen & Doyen Bau GmbH, a subsidiary of Friedrich Vorwerk. The new Multi Cat 1908 SD workboat, named Scholle, is the first marine asset to be bought by the company in many years.The 19.4-meter vessel has been bought for use on a multi-year project supporting transmission system operator TenneT on its offshore grid connection systems in the North Sea.

26 May 2023

Asian Spot LNG Prices Slide for Fifth Straight Week

© Anatoly Kolodey / Adobe Stock

Asian spot liquefied natural gas (LNG) prices have weakened for the fifth consecutive week on muted demand due to healthy stocks, remaining at their lowest level in two years.The average LNG price for July delivery into north-east Asia was down 3% from the previous week at $9.50 per million British thermal units (mmBtu), the lowest since early May 2021, industry sources estimated."North Asia remains largely void of demand. Prices have continued to walk down week-on-week and support hasn't been helped by Japanese utilities selling into an already weak market…

19 May 2023

Asian Spot LNG Prices Slip to Two-year Low

© Nicola / Adobe Stock

Asian spot liquefied natural gas (LNG) prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.The average LNG price for July delivery into northeast Asia was down 6.6% from the previous week at $9.8 per million British thermal units (mmBtu), the lowest since May 2021, industry sources estimated."Prices continue to linger sub $10 as general demand remains lacking…

13 Oct 2022

Wilhelmsen to Buy Vopak Agencies

©Wilhelmsen

Wilhelmsen Port Services has entered into an agreement with Vopak to acquire 100% of maritime services provider Vopak Agencies and 50% of Diize. "Vopak Agencies and Diize are highly complementary and a perfect match for the global reach of Wilhelmsen Port Services’ maritime network of 2 200 ports," Wilhelmsen Port Services said.Wilhelmsen said that Vopak Agencies had a strong track record within both hub services and port agency within the tanker segments in Europe and extensive experience within their field.

08 Jul 2022

Asia Spot LNG Prices Rise on Uncertainty over Nord Stream, Japan Supplies

Asian spot liquefied natural gas (LNG) prices jumped this week on fears of possible Russian supply disruptions to Japan and on rising demand due to a heatwave and concerns over the return of the Nord Stream pipeline after its planned 10-day maintenance.The average LNG price for August delivery into north-east Asia was estimated at $41 per million British thermal units (mmBtu), up $2, or 5.1%, from the previous week, industry sources said.This is the highest level seen in four…

10 May 2022

Gasunie to Charter New Fortress Energy FSRU to Reduce Dutch Reliance on Russian Gas

Illustration only - An FSRU - Credit: Karel/AdobeStock

New Fortress Energy has executed a binding agreement to charter a floating storage and regasification unit (“FSRU”) to Dutch energy network operator Gasunie, in an effort by the Netherlands to reduce Russian gas imports. The chartered FSRU will provide storage capacity of approximately 170,000 m3 of liquefied natural gas with peak regasification capacity of 900 mmscfd. New Fortress Energy's FSRU will work in tandem with a third party’s FSRU to provide up to 8 bcm per year of total regas capacity.

17 Feb 2022

Brimming European LNG Terminals Have Limited Space for More Gas

© Carabay / Adobe Stock

Europe's liquefied natural gas (LNG) terminals have limited available capacity to absorb extra supply from the United States or other major producers in the event of Russian gas disruption if it invades Ukraine.Concerns are mounting that Russia, which provides around a third of Europe's gas, is preparing to invade Ukraine which could disrupt gas flows to Europe. Russia has repeatedly denied it is preparing to invade Ukraine.The U.S. administration has recently approached major energy producers such as Qatar and Japan and to see if they can send extra LNG to Europe.At least half of U.S.

16 Apr 2021

Damen, Purus Marine Offering Green Financing

(Photo: Damen)

Damen Shipyards Group is partnering with Purus Marine, an environmentally focused maritime vessel and infrastructure company established by EnTrust Global for the financing of green shipping projects. The partnership, named DP Lease, aims to support decarbonization of the maritime industry by providing flexible and attractively priced long-term lease financing solutions to solve the financing gap created by additional capital expenditure requirements associated with the purchase of environmentally-advanced vessels.Jan-Willem van Helden…

27 Nov 2019

Nigeria Ports in Pact with Port of Antwerp

The Antwerp port community and its various partners are currently on a trade mission to West-Africa, including Benin and Nigeria.A collaboration agreement was signed between Port of Antwerp International (PAI), the consultancy and investment subsidiary of Port of Antwerp, and APEC, its maritime training center, and Nigerian Ports Authority, which manages the 6 ports of Nigeria. This collaboration, which will mainly take the form of training and consulting, underlines the leading role that the port of Antwerp plays in West Africa.The port of Antwerp is known in Africa as the maritime center of Europe, thanks to the numerous supply chain connections. The synergy between maritime, logistics and industrial activities creates a unique platform.

28 Oct 2019

COATINGS: Chasing Better Prospects

As the offshore industry recovers, choosing the right hull coating for those newly activated assets will be equally important.The global offshore support vessel (OSV) market is still recovering from a protracted slump, but thankfully momentum is now returning with predictions for significant activity for OSV’s ahead. As summarized in a report by market analysts Grand View Research, projections are for the OSV market to exceed USD 71 billion by 2022 on the back of a significant increase in projects reaching final investment decision (FID) status, and a rising demand for oil and gas worldwide.

26 Sep 2019

Fluxys Sign LNG Contract with Qatar

Qatar Petroleum subsidiary Qatar Terminal Limited (QTL) and Fluxys Belgium subsidiary Fluxys LNG signed a long-term LNG Services Agreement for the Zeebrugge LNG terminal.Under the agreement, QTL subscribes unloading slots at the facility from the expiry of the current long-term unloading contracts and up to 2044.The agreement was signed during a ceremony held in Brussels today by Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, and Pascal De Buck, CEO and Chairman of the Executive Board of Fluxys Belgium, in the presence of Her Excellency Marie-Christine Marghem, the Belgian Federal Minister of Energy…

03 Jul 2019

Optimarin H1 Revenues Soar as BWMS Market Picks Up

Ballast water treatment (BWT) specialist Optimarin reports positive developments in the market today, with the first six months of 2019 showing a year-on-year doubling of revenues, orders and a substantial increase in EBITDA. The Norwegian-headquartered company, has recorded increased business activity in key shipping areas such as North West Europe, South East Asia and the Mediterranean, while segments such as offshore are showing signs of recovery. “It’s a multi-faceted picture…

17 Feb 2019

Epic Gas Bullish on LPG Carriers Market

Global seaborne liquefied petroleum gas (LPG) volume is expected to grow by over 6% in 2019 and surpass 100 million tonnes for the first time.Singapore based provider of pressurised LPG vessels, Epic Gas said that it is well positioned to benefit from the improving fundamentals of the LPG shipping market.For the fourth quarter of 2018, freight levels for most sizes in the pressurised sector were similar to the stronger levels seen in the third quarter. Rates for the 3,500cbm, 5,000cbm, 7,500cbm and 11,000cbm averaged $8,671, $9,870, $10,565 and $13,315 per day, respectively, up 12% for the 3,500cbm, 6% for the 5,000cbm and 7,500cbm vessels…

15 Jan 2019

Shell Joins Dutch Pension Fund to Bid for Eneco

British-Dutch oil and gas company Royal Dutch Shell and Dutch pension fund manager PGGM are considering a joint bid for Dutch producer and supplier of natural gas Eneco, which is heavily invested in sustainable energy projects and worth an estimated USD 3.4 bln.This consortium is impressed with Eneco’s achievements in transforming the Dutch energy system through investments in sustainability and renewable energy. PGGM and Shell combine the knowledge, ambitions and financial commitment to build on Eneco’s sustainable strategy and are determined to competitively grow the renewable energy products and services offer for millions of customers in North West Europe.With their roots in Dutch society…

04 Nov 2018

First Delivery by Titan LNG in German Port of Mukran

Titan LNG, the leading LNG supplier to marine and industrial users in North West Europe, has successfully completed the first-ever LNG bunker delivery at Mukran Port on the island of Rügen in the Baltic Sea.Truck deliveries enable delivery of LNG anywhere. For vessels that require LNG it is possible to be supplied in German ports at prices below the price of marine gasoil.“The approval process for obtaining clearance to bunker is becoming more standardized and approvals are received faster from the ports. LNG as a bunker fuel is gaining traction as the fuel itself, the financial and operational benefits are becoming well-known”, Jippe van Eijnatten…

19 Apr 2018

$252m Finance for LNG-Powered Tankers

Watson Farley & Williams (“WFW”) has advised ING Bank (“ING”), as agent, security trustee and the syndicate of lenders on the US$252m financing of the world’s first ever LNG-powered aframax tankers for leading Russian shipowner Sovcomflot Group (“SCF”). The six 114,000dwt, ice-class vessels are being built by Hyundai Samho, with two of the vessels to operate under time charter to Shell for up to ten years. Shell will also provide LNG fuel for all six tankers across north-west Europe and the Baltic. In addition to ING, international lenders ABN Amro, BNP Paribas, Citibank, KfW IPEX-Bank and Société Générale were part of the financing syndicate for the facility.

11 Apr 2018

Rotterdam Port Calls for North-West Europe Joint CO2 Price

The Port of Rotterdam Authority is calling on the Dutch Government to form a coalition with countries in North-West Europe so that a joint CO2 price can be introduced. At the Port Authority’s Energy in Transition Summit 2018 on the RDM site in Rotterdam, Port Authority CEO Allard Castelein made a powerful case for a much higher CO2 price in conjunction with a new industrial policy for the Netherlands. At the summit, the Port Authority also revealed the results of the CO2 impact of marine and inland shipping. The Port Authority announced that it would introduce an incentive of in total 5 million euros to support vessel owners and charterers that experiment with low-carbon or zero-carbon fuels to promote climate-friendly maritime shipping.

06 Apr 2018

SCF Secures Funds for Six Aframax Tankers

PAO Sovcomflot (SCF Group) informed that it has signed a new $252 million 7-year credit facility with a consortium of six leading international banks, which includes: ABN AMRO Bank; BNP Paribas; Citibank; ING Bank; KfW IPEX-Bank, and Société Générale. The funds will be used towards financing a series of six Aframax tankers, the first-ever such vessels purpose-designed to be powered by LNG, currently under construction and due for delivery from Q3 2018 to Q2 2019. These innovative vessels set new environmental standards for the global tanker industry through adopting cleaner-burning LNG as a primary fuel for Aframax tankers. Each 114…

04 Apr 2018

Share Holders Okay Macquarie, Goldman Sachs to Acquire HES International

Riverstone Holdings and The Carlyle Group jointly announce that  they intend to sell HES International to a consortium of Macquarie Infrastructure and Real Assets (MIRA) & Goldman Sachs. Macquarie European Infrastructure Fund 5, which is managed by MIRA, and West Street Infrastructure Partners III (WSIP), which is managed by the Merchant Banking Division of Goldman Sachs, have reached an agreement in principle with Riverstone Holdings and The Carlyle Group to acquire HES International. Capital for the original investment by Riverstone and Carlyle came from two funds: (i) Riverstone/Carlyle Global Energy & Power Fund IV, L.P. and (ii) Carlyle International Energy Partners, L.P. (CIEP). HES will now initiate consultations where appropriate with the relevant works councils.

21 Feb 2018

SCF, Shell Push LNG Fuel for Aframax Tankers

SCF Group signed time-charter agreements with Shell for two dual-fueled Aframax tankers. At a ceremony held during International Petroleum Week in London, the time charter agreements were signed by Evgeny Ambrosov, Senior Executive Vice-President of SCF Group, and Mark Quartermain, Vice-President of Crude Trading for Shell. The vessels are part of a series of six SCF Group tankers currently under construction and due for delivery between Q3 2018 and Q1 2019. The two tankers will be on time charter to Shell for up to 10 years, with a minimum commitment of five years. This “Green Funnel” series of ice class 114,000 deadweight liquefied natural gas (LNG) powered Aframax tankers will operate within Shell’s extensive global freight trading network.

10 Nov 2017

Port of Antwerp Boosts Name Recognition in India

The port of Antwerp is taking steps to further boost its name recognition in India, by expanding its network of local representatives and setting up the Port of Antwerp Alumni Association. On the occasion of the recent state visit to India by HM King Philippe of Belgium, three honorary representatives for North, South and West India were appointed by Jacques Vandermeiren, CEO of Antwerp Port Authority, to support the port’s representative office in Mumbai. Further, the setting up of the Port of Antwerp Alumni Association (PA3), will give an additional boost to Antwerp’s reputation in India. The port of Antwerp has long had an active presence in India. Already in 2006 the Port Authority appointed a first full-time representative in the port city of Mumbai.