UAE's Adnoc Awards USD 1.6bln Contract to China’s CNPC
The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres, as the company continues to identify and unlock new opportunities and maximize value from its hydrocarbon resources and deliver on its 2030 smart growth strategy.Adding to the 2D and 3D seismic data already acquired across Abu Dhabi, the new seismic survey will cover an area of up to 30…
MOL buys Eni's Adriatic Offshore Gas Stakes
MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica.INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months.The transaction covers 4.3 million…
Ice-Breaking LNG Carrier Vladimir Rusanov First Call at PetroChina LNG Jiangsu Terminal
Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July.A ceremony celebrating this milestone was held on 19 July.At the end of March 2018, the vessel started transportation services for LNG produced by the Yamal LNG plant at Sabetta port in Russia. For its latest voyage…
Baltic Index Rises on Higher Capesize Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday on higher capesize rates.* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, increased 32 points, or 1.9 percent, to 1,689 points.* The capesize index rose 75 points, or 2.4 percent, at 3,205 points. The index hit a seven-month high of 3,335 points on Tuesday. It also saw its fourth straight weekly rise, up 1.5 percent.* Average daily earnings for capesizes…
Sembcorp Marine Swings to Q2 Loss
Singaporean rig builder Sembcorp Marine Ltd swung into the red in the second quarter, and cautioned a trend of negative operating profit would continue in the near term as overall business volume remains low.It turned in a loss of S$55.6 million ($40.68 million) for the three months ended June, compared with a profit of S$5.1 million in the same period a year ago.Sembcorp Marine, majority owned by industrial conglomerate Sembcorp Industries Ltd, saw its revenue more than double to S$1.63 billion due to revenue recognition on delivery of some rigs.
Seadrill Gets ABS-Managed Pressure Drilling Notation
ABS has announced it has issued the managed pressure drilling notation ABS MPD to Seadrill for the ABS-classed West Capricorn, a 6th generation ultra-deep water semi-submersible operating in the Gulf of Mexico.This notation demonstrates system compliance with the ABS Guide for Classification and Certification of Managed Pressure Drilling Systems (MPD Guide).Seadrill’s West Capricorn is the first Column Stabilized Drilling Unit to receive the ABS MPD notation complete with the Maltese Cross…
Equinor Extends Prosafe Deal
Semi-submersible firm Prosafe said that it has been offered a month extension for the Safe Boreas charter contract at the Mariner project by operator Equinor."Equinor UK Limited (formerly Statoil (UK) Limited) has exercised the first of six one-month options to extend the charter of the Safe Boreas. The total value of the option is USD 6 million," said a press statement.In early August 2017, the Safe Boreas commenced a 13 month firm operational period at Mariner in the UK sector of the North Sea.
Norway Oil Workers, Employers Reach Deal to End Strike
Norwegian drilling rigs workers will end their industrial action after the union representing 1,600 striking employees reached a deal with the group acting for their employers, the parties said on Thursday.The strike began on July 10 after the Safe union and the Norwegian Shipowners' Association could not come to an agreement over wages and pension conditions. The industrial action led to the shutdown of one Shell-operated field."The strike is over ... All workers will go back to work today…
Beatrice Offshore Wind Farm Produces First Power
Beatrice wind farm off the Caithness coast in Scotland has generated power for the first time, operator SSE said on Thursday.Following installation of the first 7-megawatt (MW) turbine, the wind farm exported power to the National Grid, the firm added.The 2.6 billion pound ($3.4 billion) wind farm will be completed in spring 2019.
Subsea 7 Wins ‘Sizeable’ Offshore Contract
Subsea 7 S.A. announced today it has been awarded a “sizeable” offshore transportation and installation contract.The subsea engineering, construction and services company said offshore execution for the contract is planned for 2020 and that the deal is worth between $50 million and $150 million, but revealed no further details due to contractual obligations.
Keppel Q2 Profit up 44 Percent
Singapore's Keppel Corp posted a 44 percent rise in its second-quarter profit, citing stronger earnings from its property and infrastructure divisions that offset losses in its other segments, including offshore and marine.Keppel, whose businesses range from rig-building to property development, posted a net profit of S$246 million ($179 million)for the quarter ended June, versus S$171 million a year-ago.Total revenue at the company, in which Singapore state investor Temasek is the biggest shareholder, was S$1.52 billion, slightly lower than the S$1.55 billion posted a year ago.Profit at the company's property division rose 132 percent to S$225 million, helped by en bloc sales in some development projects and a fair value gain.Its offshore and marine (O&M) division, which builds drilling r
Petrobras to Start Up Four New Platforms in Q4
Brazil's state-controlled oil company Petrobras will start pumping pre-salt oil from four new platforms between October and December, the company's director for production and technology development Hugo Repsold said on Wednesday.Speaking to reporters at an oil industry event, he said Petrobras could study building its own platforms after 2022 and predicted the company would head towards sustainable growth of oil production in the next few years.The four new platforms in the Santos basin are the P-67 and P-69 in the Lula oil field, and the P-75 and P-76 in the Buzios fields.
PGS Below Q2 Expectations but Outlook Improves
Shares of seismic services company PGS, which surveys the seabed for oil and gas deposits, dropped on Thursday on lower-than expected second-quarter results but its CEO said the market outlook was improving.PGS's April-June core operating earnings (EBITDA) rose to $136.0 million, below the $144 million expected by analysts in a Reuters poll, but up from $112.5 million in same quarter last year.Its shares traded three percent down by 0911 GMT, after dropping eight percent in early trade."We see a clear sign of improvement, it's a lot more tender activity, and we have realised higher contract pr
Mermaid Maritime Wins Middle East Contract
Thailand-based subsea and offshore drilling services company Mermaid Maritime Public Company announced that its Middle East business unit has been awarded a subsea services contract in a GCC country with an initial contract value of USD 16 million.The contract award, with work scheduled to be performed in the Arabian Gulf during the course of August 2018 until March 2019, will involve the use of the DP2 Dive Support Vessel ‘Mermaid Endurer’ equipped with the Air and SAT Dive systems…
MODEC Secures FPSO FEED Contract
MODEC, Inc. subsidiary MODEC International Inc. has been awarded a contract by ConocoPhillips Australia, as operator of the Barossa joint venture, for the Front End Engineering Design (FEED) of a floating production storage and offloading (FPSO) vessel for Australian waters.Under the contract, MODEC will participate in the FEED on a competitive basis against a JV of two other contractors.Barossa is an offshore gas and light condensate project that proposes to provide a new source of gas to the existing Darwin LNG facility. The offshore development concept includes subsea production system and gas export pipeline as well as the FPSO, located approximately 300 kilometers north of Darwin, Australia.
Petrobras Output in Campos Drops to Lowest Level in 17 Years
Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline, according to company data.Output has dropped 15.8 percent in 12 months due to the ageing of fields off-shore from Rio de Janeiro and Espirito Santo that account for almost half of the crude pumped by Petrobras.
For the Global LNG Industry, is the FSRU Honeymoon Over?
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…
Transocean Signs 11 Well Contract with Chevron Australia
The international provider of offshore contract drilling services for oil and gas wells Transocean announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia.The estimated firm contract backlog, excluding integrated services, is approximately USD 158 million. Additionally, the contract includes four one-well options.Two days ago…
Single Marine Access Solution for Offshore Ops
At the end of June, Damen Shipyards Group along with Ampelmann and VEEM hosted a Marine Access Event, where over two days delegates from both the offshore renewable and non-renewable industries had the opportunity to sail from IJmuiden in the Netherlands to experience the latest in marine access solutions. The demonstrations took place on board a Damen Fast Crew Supplier 5009 equipped with an Ampelmann L-type gangway and two VEEM VG 260SD gyro stabilizers.This combination of VEEM gyro stabilizers…
Solstad Farstad Secures Work for Six Vessels
Norwegian ship owner Solstad Farstad ASA said it has secured new contracts and contract extensions for six vessels.BP Egypt has declared the one-year option on the platform supply vessel (PSV) Sea Swift resulting in continuous utilization of the vessel through to August 2019.Equinor Brasil has extended present contracts for the PSVs Far Scotsman and Far Serenade with three months each to December 2018.In addition, SolstadFarstad secured ongoing charters in the Bass Strait, Australia, for the anchor handling tug supply vessels (AHTS) Far Senator and Far Saracen and the PSV Sea Swan.
Heavy Lifters for Offshore Renewable Market
Offshore Heavy Transport (OHT) will enter the offshore renewables and installation market with a new heavy lift transport and installation vessel, a customized Ulstein Alfa Lift design developed by Ulstein Design & Solutions BV (UDSBV) and OHT.There is one firm order with three options to build the ship at China Merchant Heavy Industry (CMHI), ready for action in 2021.The dynamically-positioned, 48,000 DWT vessel is designed to perform heavy lift crane operations with the main deck submerged…
Boskalis Bags New Contracts
Royal Boskalis Westminster N.V. (Boskalis) has acquired a sizable logistical management transport contract and has received a letter of award for the transport and float-over installation of an offshore platform with a combined contract value of approximately USD 65 million. The global services provider operating in the dredging, maritime infrastructure and maritime services sectors said that the logistical management contract scope is for the transportation of a large number of modules from a fabrication yard in Asia to a plant being developed in North America.
Wärtsilä to Assist Transocean with Thruster Maintenance
Wärtsilä and Transocean will optimize the maintenance of all Wärtsilä thrusters installed within the Transocean fleet, while seeking to reduce dry-docking costs by extending the service intervals of the thrusters. The agreement aims to deliver fewer interruptions to operations, which will result in benefits for both parties.The performance-based agreement builds on the Wärtsilä Propulsion Condition Monitoring Service (PCMS), that collects performance data from the thrusters and delivers it to a Wärtsilä Expertise Centre for analysis. Service experts analyses the data and determine a flexible maintenance schedule for each piece of equipment based on the actual condition of the equipment.The agreement covers five semi-submersible rigs and one drillship…
Video: Sick Cruise Ship Passenger Medevaced
On Saturday, the U.S. Coast Guard medevaced a man suffering from stomach pains from a cruise ship 80 miles east of Charleston, S.C.The cruise ship Adventure of the Sea contacted Coast Guard Sector Charleston watchstanders stating a passenger was in need of emergency care.An MH-65 Dolphin helicopter crew from Coast Guard Air Station Savannah launched and arrived at 7:30 p.m., hoisted the passenger and transported him to Medical University South Carolina for further care.
Norway Strike Delays Equinor Drilling; Short-term Output Safe
Norway's Equinor does not expect its output to be affected "in the short-term" after a union escalated an industrial action among drilling workers on Monday, the firm said."More drilling and well operations are affected. We will get delays ... In the short-term we do not see any production or milestone consequences," said Equinor spokesman Eskil Eriksen.He declined to comment on what the company considered "short-term" and what the long-term consequences would be.(Reporting by Lefteris Karagiannopoulos, editing by Gwladys Fouche)
Tidewater and GulfMark Announce Merger
Tidewater Inc. and GulfMark Offshore, Inc. announced Monday that the boards of directors of both companies have unanimously approved a definitive agreement to combine the two companies, creating the industry’s largest owner of offshore support vessels and continuing consolidation in the offshore sector.The combined company will be operated under the Tidewater brand and will be led by Tidewater president and CEO John Rynd, with the industry’s largest fleet and the broadest global operating footprint in the OSV sector…
Maersk Drilling Bags 2 North Sea Contract Extensions
Maersk Drilling has been awarded contract extensions for the high-efficiency jack-up rigs Maersk Resolute and Maersk Resolve by Petrogas E&P Netherlands B.V. and Wintershall Noordzee B.V., respectively. The extensions allow the two rigs to continue their high-performance operations in the North Sea. Maersk Resolute has been awarded a 56-day contract extension by Petrogas E&P Netherlands B.V., continuing its work in the Dutch Sector of the North Sea where it has drilled multiple wells since commencing operations in June 2017.
Golar LNG Partners Completes Sale of Golar Hilli
Golar LNG Partners have completed the acquisition of 50 percent equity in FLNG Hilli Episeyo located offshore Kribi in Cameroon, from Golar LNG, Keppel and Black and Veatch. "Further to our announcement on August 16, 2017, that it has completed the acquisition of 50% of the common units in Golar Hilli, the indirect owner of the FLNG Hilli Episeyo," said a press release from the company. The acquired interest in Hilli LLC represents the equivalent of 50% of the two liquefaction trains…
Ship Finance Sells Three VLCCs and a Jack-up Rig
Ship Finance International Limited announces that it has agreed to sell the 2007-built jack-up drilling rig Soehanah to an unrelated third party and three 2002-built VLCCs to ADS Crude Carriers Ltd., a newly established company in which Ship Finance has acquired a 17 percent interest.Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment, "Divesting of older vessels is a part of the company's strategy to renew and diversify the fleet. Over the last three months…
Tuco Delivers Crewboat to Emilsen Fisk
Tuco Marine has delivered an 11-meter crewboat to Emilsen Fisk in Rørvik, Norway.The new ProZero boat did more than 35 knots during sea trials which constitutes an increase in transit speed of 11 knots compared to the previous crew boat employed at Emilsen Fisk. Notably, this increased transit speed was achieved without additional fuel consumption.The 11-meter ProZero boat will be used for passenger transport at the Emilsen Fisk AS breeding plant off Rørvik. The sleek and deep…
Brazil Charges Former Vantage Drilling Chief with Corruption
Brazilian federal prosecutors on Thursday charged the former chief executive of U.S. oil services company Vantage Drilling with corruption and money laundering, accusing him of offering $31 million in bribes to public officials.Federal prosecutors said in a statement that the charges against former CEO Paul Bragg related to irregularities in a 2009 contract worth $1.8 billion to charter a drill ship to state-run oil firm Petroleo Brasiliero SA.Reuters was unable to locate Bragg or his representatives. Bragg was CEO of the Houston-based company from 2006 to 2016.
Semi-sub Rig Undergoes Long Distance Tow
Maersk Supply Service has completed the tow of a semi-submersible from Las Palmas to North-Western Australia. The tow was carried out by newbuild anchor handling tug supply vessel Maersk Master of the Starfish series, whose energy efficient design minimized fuel costs during transit.The first leg of the tow of the semi-submersible MODU rig was direct from Las Palmas to Cape Town. Maersk Master and the rig then rounded the Cape of Good Hope for a final port call in Port Louis,…
Bourbon CFO Resigns
French offshore services provider Bourbon Corporation announced the resignation of Astrid de Bréon from her position as Chief Financial Officer from July 11. Since her arrival on the 1st of February, 2017, Astrid de Bréon has largely contributed to Bourbon's transformation and to the sustainable reorganization of the company’s financial debt. She will continue with her duties till her replacement and departure from the company. In another press release, Bourbon said that it has reached an agreement with the majority of its creditors to withhold payment of its loans and servicing of its debt.
OIG Group Sells MV Blue Giant
Bremen-based shipping company Harren & Partner announced the acquisition of the offshore construction vessel, MV Blue Giant for an undisclosed price from the English operator, OIG Group. Harren & Partner’s Offshore Department, headed by Robert Fowler (firstname.lastname@example.org) will be responsible for managing the vessel. Peter Harren, Founder and Managing Director of Harren & Partner, explains the strategy behind the purchase: “Although the oil markets are currently still recovering, we have deliberately opted for this investment despite its counter-cyclical nature.
Nakilat Grows Profits 9%
Nakilat announced its financial results for the first half of the year ended June 30, 2018, with the company achieving a net profit of QR 445 million compared to QR 409 million during the same period in 2017, an increase of 9 percent.The company observed positive developments despite the challenging market conditions in the maritime sector over the past year. Nakilat continued to pursue its long-term strategic goals through the expansion of its fleet with two additional LNG carriers earlier this year and more recently…
Inpex to Ship First Ichthys LNG Cargo by End of September
Inpex said it expects to ship first cargo from its Ichthys liquefied natural gas (LNG) project in Australia by the end of September after safety issues have been resolved, maintaining an earlier schedule.Australian regulators had discovered safety issuess on the Ichthys offshore gas platform and was considering enforcement action.The Inpex-operated Ichthys LNG project carried out an inspection mainly on electrical equipment during the process of final safety verifications in cooperation with Australian regulators, in preparation for the start-up of production.
Chevron exits Indonesia's Makassar Strait block
Chevron will exit the Makassar Strait gas block in the Indonesia Deepwater Development (IDD) offshore natural gas project to focus on more promising areas in the venture, Indonesian officials said on Wednesday.Indonesia's energy minister had issued a decree terminating Chevron's Makassar Strait production sharing contract (PSC) after it decided not to extend its operation of the block beyond 2020, upstream oil and gas regulator SKKMigas said."Chevron was not interested in requesting an extension," SKKMigas chairman Amien Sunaryadi told reporters.
Oil Falls After Libyan Ports Reopen, Trump Tariff Threat
Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals.The spectre of tariffs on a further $200 billion of Chinese goods sent commodities lower along with stock markets, as tension between the world's biggest economies intensified.Brent crude fell $2.10, or 2.7 percent, to a low of $76.76 before recovering slightly to $77.20, down $1.66, by 1325 GMT. U.S.
ABB Wins Order for World's Biggest Offshore Wind Farm
ABB has won orders worth more than $150 million from Danish energy company Ørsted to supply technology to transmit wind energy from the 1,400 megawatt (MW) Hornsea Project Two, slated to be the world's largest offshore wind farm.The orders were booked in the second quarter of 2018 and are the first tranche of a global five year frame agreement for the supply of electrical and automation equipment for offshore and onshore wind power connection and integration to the grid, ABB said.ABB will supply its Static Var Compensation (SVC) Light technology with ABB Ability MACH control systems…
Harren & Partner Buys Offshore Construction Vessel
Bremen-based shipping company Harren & Partner is looking to grow its offshore salvage business with the purchase of the offshore construction vessel MV Blue Giant from English operator OIG Group.“Although the oil markets are currently still recovering, we have deliberately opted for this investment despite its counter-cyclical nature. Alongside our classic offshore activities, we also wish to further strengthen our position in attractive niche markets such as the salvage business…
Hundreds of Oil Workers Strike in Norway
Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher.One union said hundreds more workers would join the strike on Sunday if an agreement over union demands for a wage increase and pension rights was not reached.Royal Dutch Shell said that due to the strike it was temporarily closing production at its Knarr field, which has a daily output of 23…
BOURBON Signs General Waiver with Lenders
BOURBON announced it has signed a general waiver with its leasers and debt holders representing the majority of its debt, allowing the group to withhold the payments of its loans and the servicing of its debt.The waiver, which is aimed at protecting the group, allows the French based offshore services provider to focus on its operational priorities and on the implementation of its #BOURBONINMOTION strategic plan.The company said it is confident that it will be able to find a balanced solution with lenders before year end.
Liftboat Milaha Explorer Deployed off West Africa
Qatar-based maritime and logistics conglomerate Milaha said its liftboat Milaha Explorer has been deployed off the coast of West Africa as part of a long-term charter with a major international oil company.Milaha’s President and CEO, Abdulrahman Essa Al-Mannai, said, “Over the past few months, we have been significantly ramping up our operations, and I am pleased to announce further growth in our geographic footprint and operational portfolio with this long-term deployment, which marks our entry into Africa.
Transas to Promote Fleet Efficiency for Wilson Ship Management
Transas said it booked an order in Q1 2018 with the Norway-based fleet operator Wilson ASA to supply a Fleet Operations Solution (FOS) including onboard navigational and communication components to provide enhanced connectivity for business communications and crew services, and access to fleet data from shore-based locations for complete situational awareness.For Transas, which was acquired by Wärtsilä in May 2018, the contract marks one of the first applications of the Thesis concept within Wärtsilä’s Smart Marine Ecosystem vision, which uses high levels of connectivity and digitalization.
Aker BP Hires Prosafe Vessel
Prosafe has signed a contract with Aker BP ASA for the Safe Scandinavia to provide accommodation support at the Ula platform in the Norwegian sector of the North Sea. The firm duration of the contract commencing mid-August 2018 is seven months with eight one-month options. Total value of the contract excluding the option periods is approximately USD 25.5 million. The option periods, if exercised, have a total value of approximately USD 36.7 million. The contract will ensure employment of the Safe Scandinavia soon after expiry of her previous contract that concluded end-June 2018.
Sinovel Fined for AMSC Trade Secret Theft
A U.S. judge ordered Sinovel Wind Group Co Ltd, a Chinese wind turbine maker, to pay a $1.5 million fine after the company was convicted and charged for stealing trade secrets from Massachusetts-based AMSC. U.S. District Judge James Peterson in Madison, Wisconsin, also sentenced Sinovel to one year of probation, during which it must pay the unpaid balance of a $57.5 million settlement it reached with AMSC. The U.S. Justice Department said Sinovel has already paid AMSC, formerly known as American Superconductor Inc…
Subsea Robotics for Renewables
As the global fleet of offshore renewables fleet increases, ways to reduce the cost and increase the efficiency and safety of operations and maintenance work, using robotics and autonomous systems, will also grow. Elaine Maslin reports.Robotics and autonomous systems are moving into many areas of modern day life. It’s becoming harder to avoid them, from our phones to automotive systems and now offshore energy renewable projects.Both are seen as tools to do otherwise dull, dirty or dangerous work…
Larson Electronics: New Emergency LED Light
Larson Electronics LLC announced the release of a new hazardous area LED light. The product is specifically designed for wet and corrosive marine environments. This LED, approved by United States Coast Guard , features amber, red, green and blue color options and is ideal for oil rigs, ships, chemical storage centers and offshore applications. The HALP-EMG-48-2L-LED-SS hazardous area emergency LED light fixture from Larson Electronics is a 56 watt, four-foot-long, two lamp LED fixture that produces 7…
Kooiman, Group de Cloedt Deliver Trailer Suction Hopper Dredger
On June 30, 2018, a trailer suction hopper dredger DC Brugge was delivered to Scheepswerf Gebr. Kooiman B.V. in Zwijndrecht. DC Brugge is the result of close cooperation between Group de Cloedt and Kooiman Marine Group. With the DC Brugge, Group de Cloedt is updating its fleet of dredgers. The vessel, with a hopper volume of 2,450 m3, replaces the 43-year-old Interballast 1 (1,680 m3) and will be deployed in the granulate dredger fleet of Group De Cloedt. The sailing area will mainly be the Western Scheldt and the Belgian and Dutch coasts.
Baltic Index Higher on Demand for Larger Vessels
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, inched up on Friday, helped by higher demand for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 10 points, or 0.6 percent, to 1,622 points, the highest since Dec. 14. The index was up for a second-consecutive week gaining 17.1 percent, its biggest weekly jump in four. The capesize index gained 73 points, or 2.4 percent, to 3,086 points, a peak since Dec. 21.
Asian Refiners Rush to Secure Feedstock as Trade War Looms
U.S. tariffs on Chinese goods came into effect Friday; China retaliates, duty on U.S. crude possible. Asian oil refiners are racing to secure crude supplies in anticipation of an escalating trade war between the United States and China, and as Washington plans tough sanctions against Iran aimed at shutting the country out of oil markets. As part of a wave of retaliation for Friday's U.S. tariffs, China has threatened a 25 percent duty on imports of U.S. crude. Meanwhile, Washington's new sanctions against Tehran are due to kick in from November.
Fall from Grace: Batista Gets 30-Years for Corruption
Eike Batista, the former mining and oil magnate who was once Brazil's richest man, was convicted and sentenced to 30 years in prison for bribing Rio de Janeiro state's disgraced ex-governor, according to a court document published on Tuesday.Batista's conviction and sentencing by federal judge Marcelo Bretas are the latest in a wave of graft investigations that have sent scores of powerful businessmen and politicians to jail.The eccentric former billionaire's meteoric rise and fall mirrored the recent fortunes of Brazil, where the commodities boom faded as his energy, mineral and logistics empire fell apart earlier this decade.His swashbuckling attitude and confident forecasts of a prolonged golden era for Brazil evaporated just as Latin America's largest economy suffered its worst recessi
Seven Vega takes shape at Royal IHC
The keel laying ceremony for Subsea 7’s new reel-lay vessel took place at Royal IHC in Krimpen aan den IJssel (Netherlands), July 5th. In line with this major milestone Subsea 7 announced the vessel will be named Seven Vega, which is the winning suggestion of an employee vessel naming competition. Stuart Fitzgerald, Executive Vice President Strategy and Commercial Subsea 7 said: “The vessel marks an important investment for the future. When delivered, Seven Vega will be one of the most capable and cost-effective reel-lay vessels in the market and a global enabler for Subsea 7.
49 Missing After Boat Capsizes off Thailand's Phuket Island
Forty nine people are missing after a boat carrying 97 people, including Chinese tourists and Thai crew, capsized in rough seas off Thailand's tourist island of Phuket, the Thai navy said on Thursday. Thailand is in the middle of its monsoon season which brings with it adverse weather conditions. "Right now we are still looking for 49 people. We have helped 48 people from the capsized boat. We have sent boats to help," Rear Admiral Somnuk Prempramote, commander of the Royal Thai Navy Region 3. "They were all wearing life jackets," he added. The boat was one of three to encounter difficulties at sea in the area on Thursday, the navy said. Another two boats, including a yacht carrying 39 people, also capsized but its passengers have been brought to safety.
Iran's Guards Say Strait of Hormuz is For All or "No One"
The head of Iran's Revolutionary Guards said on Thursday their forces were ready to implement Iran's threat to block the Strait of Hormuz and that if Iran cannot sell its oil under the U.S. pressure, no other regional country will be allowed to."We are hopeful that this plan expressed by our president will be implemented if needed ... We will make the enemy understand that either all can use the Strait of Hormuz or no one,” Mohammad Ali Jafari, commander of the Islamic Revolutionary Guard Corp, was quoted as saying by Tasnim news agency.Reporting by Bozorgmehr Sharafedin
Aegean Marine Shares Soar as Mercuria Provides $1 bln Lifeline
Energy trader Mercuria Group has agreed to provide a $1 billion trade finance facility to Greece's Aegean Marine Petroleum Network, the marine fuel logistics and supplies company said on Thursday, sending Aegean's stock up more than 150 percent.New York-listed Aegean Marine underwent a major leadership change this year after losses prompted an activist investor revolt to sever ties with the company founder, shipping and oil tycoon Dimitris Melissanidis.Aegean announced a $200 million write-off in early June after a new chairman, Donald Moore, was appointed in May to lead a strategic review.Shares in Aegean were up 127 percent at $1.43 as of 1359 GMT, having risen as high as $1.53.Swiss-based Mercuria will initially inject at least $30 million in cash, Aegean Marine said.Aegean Marine also
Reacting to Iranian Threat, U.S. Navy Says Will Protect Free Flow of Commerce
The U.S. Navy stands ready to ensure freedom of navigation and free flow of commerce, a spokesman for the U.S. military's Central Command said on Thursday, after Iran threatened to block oil shipments through the Strait of Hormuz if Washington bans its oil sales."The U.S. and its partners provide and promote security and stability in the region. Together, we stand ready to ensure the freedom of navigation and the free flow of commerce wherever international law allows," Central Command spokesman Navy Captain Bill Urban said in an email to Reuters. Reporting by Bozorgmehr Sharafedin Editing by Alison Williams
BP to Boost Stake in UK's 'Giant' Clair Field
BP announced that it has entered into agreements with ConocoPhillips that will significantly increase its holding in the Clair field, a core asset of BP’s North Sea business in the UK, while also selling its non-operating interest in the Kuparuk and satellite oilfields in Alaska. BP has entered into an agreement to purchase from ConocoPhillips a 16.5% interest in the BP-operated Clair field, west of Shetland in the UK, buying a ConocoPhillips subsidiary that will hold this interest in the field. As a result, BP will hold a 45.1% interest in Clair and ConocoPhillips will retain a 7.5% interest.
ABS Classes Next Generation LNG Carrier
ABS has confirmed that the ABS-classed Diamond Gas Orchid, the world’s first "Sayaringo STaGE" next generation LNG carrier, has been delivered to Diamond LNG Shipping, a joint venture between Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Ordered by Diamond LNG Shipping through MI LNG Company, Ltd., constructed by Nagasaki-based Mitsubishi Heavy Industries Marine Structure Co., Ltd. and delivered by Mitsubishi Shipbuilding Co., Ltd., the innovative carrier introduces…
Seacat Services Sends Two Workboats to Beatrice For Siemens Gamesa
Offshore energy support vessel (OESV) operator, Seacat Services, has secured a further charter agreement at Beatrice Offshore Wind Farm (Beatrice). This latest 2-year contract will see Seacat Mischief and her sister vessel, Seacat Magic, provide logistical support to manufacturer and service provider Siemens Gamesa Renewable Energy (Siemens Gamesa) throughout the operations and maintenance (O&M) phases. The pair of 23-meter jet propulsion catamarans will be based out of Wick Harbor in Scotland, with Seacat Mischief arriving on site in mid-August, and Seacat Magic in April 2019.
BW Offshore's Adolo Commences Transit to Gabon
The provider of floating production services to the oil and gas industry BW Offshore is pleased to announce the sail away of the FPSO BW Adolo. The vessel has left anchorage in Singapore and is currently in transit to the Tortue field offshore Gabon. BW Adolo is expected to arrive at the field in August 2018. "We are firmly on track for first oil later this year", said Carl K. Arnet, the CEO of BW Offshore. The BW Adolo has an oil storage capacity of 1,350,000 barrels and a production capacity of 40,000 barrels of oil per day.
Harvey Gulf Emerges From Chapter 11 Proceedings
Harvey Gulf International Marine announced that it has completed its financial restructuring and emerged from Chapter 11 Bankruptcy proceedings. This marks the completion of the Plan of Reorganization approved by the bankruptcy court, 77 days following Harvey Gulf’s prepackaged filing. Under the reorganization, Harvey Gulf has shed approximately $1 Billion in debt and emerges with a dramatically de-leveraged balance sheet. Additionally, the Company has kept its commitments to its trade vendors, paying all unsecured claims in full.
ReCAAP ISC, WMU Strengthen in Fight Against Piracy
ReCAAP Information Sharing Center (ISC) and World Maritime University (WMU) has signed a Memorandum of Understanding (MOU) to strengthen the cooperation between the two organizations in the shared interest in increasing the knowledge of the evolving situation of piracy and sea robbery in Asia. The cooperation will see ReCAAP ISC share its Asian experience in combating piracy and armed robbery against ships with the next generation of maritime leaders pursuing their postgraduate studies at WMU’s campus in Malmö…
BlueStar Acquires RH Offshore Activities
BlueStar – Subsidiary of STAR Group – has reached an agreement with regard to the acquisition of the activities of RH Offshore as of July 1, 2018. The acquisition consists of the assets and liabilities of RH Offshore, subsidiary of Radio Holland Netherlands B.V. BlueStar will also take over the employees of RH Offshore. With this acquisition, BlueStar reinforces its position in the maritime and offshore industries. ‘With the acquisition of R H Offshore, BlueStar is investing in a high-quality pool of experienced offshore specialists…
Oil Tight on Libyan Port Struggles
Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take over oil exports in the past but have struggled to find buyers because Western nations insist they will deal only with the internationally recognised National Oil Corporation (NOC) based in the Libyan capital of Tripoli. But this has not stopped eastern forces from seeking control of the ports, accusing Libya's western-based government of failing to share revenues fairly.
U.S. Rig Count Drops, But E&P Spend Up 13%
U.S. energy companies this week cut oil rigs for a second straight week, and notched the first monthly fall since March.Drillers cut four oil rigs in the week to June 29, bringing the total count down to 858, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. <RIG-OL-USA-BHI>That was the first time drillers cut rigs for two weeks in a row since October 2017. For the month, the rig count decreased by one, its first decline since March.For the quarter…
East China Sea Dispute: Japan Protests China Drilling Vessel
Japan has protested to China for allowing a gas drilling vessel to operate in disputed waters in the East China Sea, the government said on Friday.
Innovation Starts @ Marine Hub Cornwall
Marine Hub Cornwall are on a mission to showcase the UK’s southwest coast as a world class center for marine technology and innovation. Working alongside Invest in Cornwall, which manages inward investment into the region, Marine Hub’s Operations Director, Matt Hodson, explains why he believes Cornwall is best positioned to be a global hub for the marine renewable industry.To kick off, can you give the readers a brief overview of your experience and what led you to become the…
Panama Canal to Boost LNG Transit After Scrapping Restrictions
The Panama Canal will boost liquefied natural gas (LNG) tanker traffic along the waterway from October in a boon to U.S. East Coast LNG producers chasing profits from sales to Asia.As demand for LNG transit grows, the Panama Canal will grant night passage, and scrap its single-file rule to enable passage in opposing directions at the waterway's north end."By lifting these restrictions on October 1, the Canal will unleash even more capacity for LNG," Silvia de Marucci, Executive Manager…
Nippon Foundation Addresses Global Ocean Threats
Nippon Foundation is a philanthropic organization active globally with a simple mission, social innovation. While its activities today cross many activities and borders, when founded in 1962 its efforts focused largely on the maritime and shipping fields. Last month in Houston we spoke with Nippon Foundation Chairman Yohei Sasakawa, focused specifically on Nippon Foundation’s activities in and around the world’s oceans.(all images copyright and courtesy Nippon Foundation)Please explain the most important activities today for the Nippon Foundation…
Fraser to Head DNV GL’s Noble Denton Marine Services
DNV GL has appointed Neil Jamieson Fraser as its new head of Noble Denton marine services in the UK and West Africa. The role will focus on marine warranty, marine advisory/assurance, technical assurance, and advanced engineering services. Fraser has worked with DNV GL for more than 25 years and has held a number of senior positions within the company in the UK, West Africa and most recently, in South America. He recently returned to the UK after nearly four-years based in Rio…
Vestas, Maersk Tackle wind turbine Transport, Installation Costs
Project has secured $7.3 mln in public funding; sector races to build ever bigger turbines. Danish wind turbine maker Vestas and offshore services firm Maersk Supply Service are teaming up to tackle the cost of transporting and installing ever larger wind turbines. Seeking to remain profitable as European countries phase out subsidies, the industry is turning to ever bigger turbines to harness power more efficiently and respond to pricing pressure for new equipment around the globe. Vestas and fellow Danish company Maersk Supply Service, part of A.P.
Gas to Overtake Oil as Primary Energy Source by Mid-2030s
Nearly two-thirds (64%) of oil and gas sector leaders expect to increase or sustain spending on gas projects in 2018, as the sector prepares for gas to overtake oil as the world’s primary energy source in the mid-2030s. Confidence in the case for gas is growing, according to a survey by DNV GL, the technical advisor to the industry. The vast majority (86%) of the 813 senior industry professionals surveyed agree that gas - the least carbon-intensive fossil fuel - will play an increasingly important role in the global energy mix over the next decade, up from 77% last year.
MOL's FSRU Challenger for Hong Kong LNG Terminal Project
Mitsui O.S.K. Lines (MOL) announced that MOL, has entered into a preliminary agreement to supply a Floating Storage and Regasification Unit (FSRU), as well as Jetty Operation & Maintenance Services for the Hong Kong Offshore LNG Terminal Project on a long term contract. MOL will utilize the "MOL FSRU Challenger" built in 2017 with a storage capacity of 263,000m3 which remains the largest FSRU in the world today, to provide services to the Hong Kong Offshore LNG Terminal Project. The FSRU was constructed at Daewoo Shipbuilding & Marine Engineering Co., Ltd.
Europe Distillates-Cracks Rise Despite Wave of Imports
Benchmark diesel barge refining margins in northwest Europe rose at the start of the week despite plentiful imports from Asia, the Middle East and the United States. Recent highlights include:* In recent days at least seven Diesel cargoes carrying around 550,000 tonnes were booked out of Asia and the Middle East to northwestern Europe as the arbitrage on the route remained open, according to shipping data and traders.* In addition the arbitrage from the U.S. Gulf coast was also open with at least eight tankers booked to go to Europe, carrying around 350,000 tonnes of products, most likely Diesel.* Benchmark crude prices were down 1.2 percent.GASOIL* One barge of 0.1 percent sulphur content gasoil traded at a discount of $13 to the July diesel contract.
Offshore Energy: LR Supports Mozambique FLNG Project
The scope of work that LR is undertaking covers design, procurement, certification, construction, integration and commissioning, as well as providing classification services under a risk based inspection regime to the FLNG when it enters into service in 2022.The Coral South field is being developed by Eni in Area Four of the Rovuma Basin, off the coast of Mozambique. The floating liquefied natural gas (FLNG) unit will be Africa’s first floating gas facility. The size, quality and position of the field’s resources are set to transform Mozambique’s economy.
Baltic Index Edges Down
The Baltic Exchange's main sea freight index fell for the sixth straight session on Monday, dragged down by softer demand across vessel segments.* The overall index, which tracks rates for ships carrying dry bulk commodities, fell 8 points, or 0.6 percent, to 1,333 points. The index fell 7.2 percent last week.* The capesize index fell 10 points, or 0.5 percent, to end at 2,001 points.
Barge Master 3D Motion Compensated Crane for Wagenborg
Wagenborg awarded Barge Master a contract for a second 3D motion compensated crane for its new walk-to-work vessel Kasteelborg. The first motion compensated crane on the Kroonborg has increased the workability from approximately 180 to 330 days per year. “The crane works quite happily in three meter seas,” said Haije Stigter, former program manager at ONEgas/Shell, notes - adding that it “works like a dream.”The Barge Master Crane, as configured for the Kroonborg, makes it possible to continue safe and stable crane operations even in the North Sea’s famously rough conditions.
Shelf Drilling: Higher Rig Rates, More Consolidation Coming in 2019
Shelf Drilling, the world's largest owner of shallow water rigs, expects to see higher rig rates in 2019 and more consolidation of the fragmented market, Chief Executive David Mullen told Reuters. Following an initial public offering, the Dubai-based company's shares began trading in Oslo on Monday, four years after abandoning plans to list in London in the wake of an oil price downturn. Its shares traded at 64.80 Norwegian crowns ($7.98) per share by 1023 GMT, below its initial offer of 65.35 crowns. Reporting by Nerijus Adomaitis
Schlumberger Wins in US Supreme Court on Patent Damages
The U.S. Supreme Court ruled on Friday that companies can recover profits lost because of the unauthorized use of their patented technology abroad in a victory for Schlumberger NV, the world's largest oilfield services provider.The 7-2 decision overturned a lower court's ruling that had enforced limits on applying U.S. patent law overseas and reduced by $93.4 million the damages sum that rival ION Geophysical Corp had to pay for infringing Schlumberger technology that helps find oil and gas beneath the ocean floor.
Hundreds Surf in Record Offshore Gas Protest
Hundreds of Israeli surfers in black skull-and-crossbones shirts took to the waves on Friday in what they said was a record-breaking protest against potential environmental damage from off-shore gas development.Organizers said 992 people, among them athletes and actors, paddled out and held hands to form a circle opposite Herzliya, promoting their demand that a planned gas rig be relocated further from Israel's Mediterranean coast.A slogan on their shirts read: "Don't poison us."Israeli…
Odin's Eye & the Quiet Trawler
When it was time for France Pelagique to start renewing its fleet, an electric-power alliance of Dutch and Scandinavian yard interests formed up and delivered. The result was the first installation aboard a trawler of NES’s Odin’s Eye, a DC grid solution to integrate another first for trawlers — quiet-running permanent magnate, or PM, propulsion.Where to begin a fleet modernization that ends with green credentials and richer harvests? Well, there are multiple points of contact…
Italy Tells Rescue Ship to Take Migrants to the Netherlands
Italy's anti-immigrant interior minister accused a German charity on Thursday of ignoring coastguard orders when its Dutch-flagged ship picked up 226 migrants off Libya's coast and he said they should be taken to the Netherlands not Italy.Earlier this month Matteo Salvini pledged to no longer let charity ships offload rescued migrants in Italy, leaving the Gibraltar-flagged Aquarius stranded at sea for several days with more than 600 migrants until Spain offered them safe haven.On Thursday, Mission Lifeline, a charity based in Dresden, Germany, pulled migrants off two rubber boats in international waters even though it was told by Italy that Libya's coastguard was coming to get them, a spokesman for the charity said.
Predictive Software to Optimize FPSO Maintenance
A new test project in Norway looks to employ specialty software for the optimization of floating production storage and offloading (FPSO) maintenance.Lloyd's Register (LR) said it is using its RTAMO software to support AkerBP in an effort aiming to optimize maintenance activities for the Skarv FPSO infrastructure and equipment.RTAMO, which stands for Real-Time Adaptive Maintenance Optimization, is a standalone cloud-based software-enabled service that uses predictive algorithms linking planned maintenance to economic and reliability outcomes.
Libyan Coastguard Picks Up 301 Migrants Headed for Europe
Libya's coastguard picked up 301 African migrants on Thursday from two inflatable boats after their engines failed near its western coast, a spokesman said.Libya is a main departure point for migrants fleeing wars and poverty trying to reach European countries, though crossings have dropped sharply since last July due to a more active coastguard supported by the European Union."The coastguard rescued 301 migrants early this morning, including three women and 46 children from 12 different sub-Saharan countries," its spokesman Ayoub Qassem told Reuters."The illegal migrants were on board two big rubber boats," Qassem said. "The engines of the two boats stopped working in the middle of sea."On Wednesday…
Oil Exploration Is Ramping Up Off Norway
Oil firms are expected to drill 40-50 exploration wells off Norway this year compared to 36 wells drilled the previous year, the Norwegian Petroleum Directorate said on Thursday.The Norwegian continental shelf still held an estimated 4 billion cubic meters (25.2 billion barrels) of oil equivalents in undiscovered petroleum resources, with two-thirds located in the Arctic Barents Sea, it added.Half of estimated undiscovered resources in the Barents Sea, however, are located north of the areas opened for petroleum activities, and it's unclear when oil firms can get access to them.(Reporting by N
Norway Oil Workers Threaten to Strike
Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this summer after rejecting a proposed wage deal, the Safe labor union said on Thursday.Industri Energi, the largest labor union representing drilling workers, last month agreed to a deal, while the smaller Safe said it would ask its members to vote on the offer made by the Norwegian Shipowners' Association.A strike could hit oil companies' exploration efforts later this summer, although a mandatory round of mediation must be held before any conflict is
ExxonMobil, Hess Announce Oil Discovery Offshore Guyana
ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered. The well was drilled to 5,504 meters depth in 1,940 meters of water by the Stena Carron drillship on May 25, 2018. The Longtail-1 well is located approximately 5 miles west of the Turbot-1 well and follows previous discoveries on the Stabroek Block at Liza…
MOL Snaps Up Adriatic Gas via Croatian Unit
MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica. INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months. The transaction covers 4.3 million…
DNV GL, EU to Promote Offshore Wind Market in Indian
DNV GL, the world’s largest resource of independent energy experts and certification body, is today showcasing the final reports in a study which demonstrates the commercial and technical feasibility of the offshore wind market In India. Co-funded by the European Union (EU), GPCL and ReNew Power the Facilitating Offshore Wind in India (FOWIND) project will enable organisations to make future investments in the region. India has made strong commitments under the UN Paris Climate Agreement and announced ambitious renewable energy goals in 2015…
House Set to Debate Offshore Wind Energy Bills in US Waters
A U.S. House committee will kick off debate next week on three new bills aimed at boosting offshore wind energy leases in federal waters.The House Subcommittee on Energy and Mineral Resources will hold a hearing on Tuesday on three bipartisan offshore wind proposals.One proposal would require the Interior Department to develop a leasing plan or schedule for federal offshore leases, a second would create a federal grant for educational or career programs for the offshore industry…
CNOOC Developing New Deep Sea Gas Block in South China Sea
China's offshore oil and gas producer CNOOC has started developing a new gas field in the South China Sea, the official Xinhua News Agency reported on Tuesday.The Lingshui 17-2 gas field is the first deep sea gas block fully operated by a Chinese company, Xinhua said citing CNOOC officials.The deep sea project, which was discovered in 2014, is 150 km (94 miles) south of China's southern Hainan island, with an average operational depth of 1,500 metres, according to a Reuters report from that year.CNOOC is ready to start building a subsea level platform used for drilling, Xinhua said.(Reporting by Meng Meng and Aizhu Chen; Editing by Tom Hogue)
Dozens Missing after Ferry Sinks in Indonesia's Lake Toba
An estimated 18 people were rescued and one was confirmed dead from among about 80 passengers aboard a ferry that sank on Monday in Lake Toba in Indonesia's North Sumatra province, a disaster agency official said.The Sinar Bangun ferry sank in rough weather at around 5:30 pm (1030 GMT) about a mile from the port of Tigaras, carrying passengers from the lake's Samosir Island, Disaster Mitigation Agency (BNPT) spokesman Sutopo Purwo Nugroho said.Nugroho added that search and rescue efforts had involved two other ferries and one wooden boat had been hampered by weather conditions in the area on Monday night.It was not immediately clear if any of the missing passengers were foreigners.Ferry accidents are common in Indonesia, a vast archipelago, especially during the Islamic holiday of Eid when
New Feeder Solution to Serve US Offshore Wind Market
Dutch companies GustoMSC and Barge Master join forces in the development of a motion-compensated feeder solution to service the emerging U.S. offshore wind marketsThis solution offers a flexible and cost-effective alternative for installing the first wave of U.S. projects. Combining the strengths of both companies creates a strong and advanced technical organization with commercial representative offices in the United States, through which prospective clients will be served.GustoMSC…
Norway Awards Oil Permits to 11 Firms in Arctic Licensing Round
Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.Nine of the licences are located in the Barents Sea and three in the Norwegian Sea off central Norway, the Ministry of Oil and Energy said on Monday."This licensing round confirms that the oil companies see opportunities for further profitable petroleum activity in the north," Oil and Energy Minister Terje Soeviknes said in a statement.Equinor…
DNV GL Issues First Type Approval for Aluminum Cables On Ships
As the competitive and economic pressure on the shipping and offshore industries continues to grow, owners, operators and yards are searching for every efficiency. To support its customers, DNV GL has developed the first type approval scheme for the use of aluminum cables and connectors on board vessels.“This type approval represents another first for the DNV GL rule set and demonstrates our commitment to moving classification forward to help our customers,” said Geir Dugstad, Senior Vice President, Director of Ship Classification & Technical Director at DNV GL - Maritime.
Norway Wants to Build Floating Wind Farms
Norway's energy minister will meet with companies on Wednesday to discuss the potential construction of offshore floating wind farms, he told Reuters on Friday.The meeting is the first concrete step to spur development of offshore floating power generation, after the government said last December it would seek to accommodate such plans."Wednesday next week I will have a meeting with different stakeholders in offshore wind and discuss both the opening process and the regulatory framework…
SAL Heavy Lift Inks Deal for Horns Rev 3 Shipments
SAL Heavy Lift said it signed a contract with GeoSea NV for the shipment of a total of 49 transition pieces for the Horns Rev 3 Offshore Wind Farm.The assignment compiles transportation of TPs from fabrication yards in Aalborg, Denmark and Vlissingen, Netherlands to the project port of Esbjerg in Denmark. SAL must prepare a full HSSE and Quality plan, create the technical design and finalize the engineering work, execute procurement as well as fabrication of five TP grillages and one lifting tool and get the vessel ready to load the first units.Each of the 49 TP’s measures 32…
EIA: Oil Barrel Price Steady Around $70
EIA expects Brent prices will average $71 per barrel in 2018 before declining to $68 per barrel in 2019. In the June 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Brent crude oil prices will average $71 per barrel (b) in 2018 and $68/b in 2019. The new 2019 forecast price is $2/b higher than in the May STEO. The increase reflects global oil markets balances that EIA expects to be tighter than previously forecast because of lowered expected production growth from both the Organization of the Petroleum Exporting Countries (OPEC) and the United States. Brent crude oil spot prices averaged $77/b in May, an increase of $5/b from April and the highest monthly average price since November 2014.
Bulk Carrier Crew Rescues Six Fishermen
On Saturday, June 9, the captain and crew of the Wallem-managed vessel the bulk carrier KSL Seoul rescued six fishermen after their boat was involved in an accident and subsequently capsized.The KSL Seoul was passing through the Mindoro Strait en route to Port Walcott in West Australia when they spotted the capsized fishing boat, the Sister Reds with six Filipino fishermen clinging onto its hull.The KSL Seoul immediately notified the Philippine coastguard and the local Maritime Rescue Coordinating Council (MRCC) and changed course to approach the boat.
Shell Feeds Gas to Australia's New Prelude FLNG
Royal Dutch Shell has introduced gas to its 490 meter (1,600 ft) long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on Wednesday.Gas was fed to the unit from liquefied natural gas (LNG) carrier Gallina, she said.
ABB’s Digital Technology to Improve Floatel Safety
ABB has won a contract to supply its ABB Ability Marine Advisory System – OCTOPUS marine software for one of the world’s most advanced floating hotel vessels for offshore operation.The 600-person accommodation vessel Edda Fides, operated by Edda Accommodation, will now be able to integrate real-time weather forecasts with ABB Ability Marine Advisory System – OCTOPUS, a digital solution that helps vessel owners gather and analyze data to optimize operations.OCTOPUS will provide…
France Says Italy Flouting International Law on Migrant Ship
France's prime minister accused Italy on Tuesday of not meeting its international obligations after refusing to take in more than 600 migrants stranded aboard the rescue ship Aquarius."Italy, the Italian government, has chosen to not respect its international obligations terms of security for the people," Edouard Philippe told lawmakers. "This episode shows that there is no hope in the short-term for a national solution to this problem. There can only be a European response."Philippe said no European country had done more than France to try to stabilise the migrant crisis through its military operations in the Sahel region and its efforts to find a political solution to the conflict in Libya.Reporting by John Irish