Chevron becomes first oil major to exit Norway
U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter.Oil majors, including Exxon Mobil, BP and Shell, have scaled down their presence in Norway by selling or merging their assets in the mature region to focus on new growth opportunities elsewhere.Chevron is also seeking to sell assets in the British North Sea in order to focus on growing U.S.
Maersk Leases Singapore Oil Storage Ahead of IMO 2020
Maersk Oil Trading has leased oil storage space in Singapore, signalling a push by one of the world's biggest ship fuel buyers into the Asian bunkering hub ahead of changes to global fuel standards from 2020, trade sources said.Maersk Oil has taken storage at the Tankstore oil terminal in Singapore, a spokesman for parent A.P. Moller-Maersk told Reuters, without giving further details.The firm has leased 120,000 cubic meters of space for fuel oil for six months, said three trade sources with direct knowledge of the matter.
Caterpillar Marine Rolls Out New Azimuth Thrusters
Caterpillar Marine announced that its latest generation of azimuth thrusters, the new MTA v3, is now on the market.The MTA v3 lineup currently covers the entire Cat 3500 range with the MTA 524, 627 and 628 from a power range of 1,500-2,525kW. It provides the large savings in maintenance costs, lower maintenance and service risks, and simple FiFi installation, the manufacturer said.“The addition of the new MTA v3 to our marine product program really completes our offering to the tug segment and provides a leaner…
Hurricane Michael Races Northeast, Leaving Devastation in Florida
Hurricane Michael, the third most powerful storm ever to strike the U.S. mainland, headed northeast on Thursday, weakened but still set to soak Georgia and the Carolinas after devastating the Florida Panhandle.By 6 AM on Thursday, heavy rain and wind had reached as far north as Charlotte, North Carolina and the Western North Carolina mountains. The center of the storm was located over Augusta, Georgia, moving north rapidly at more than 20 MPH in a north / northeast heading. Charlotte…
Stena Bulk Forms Chemical Tanker JV with Bay Crest Management
Golden-Agri Stena, a joint venture between Sweden based tanker shipping company Stena Bulk and Indonesia’s largest palm oil producer Golden Agri-Resources, has started a new joint venture with Japan's Bay Crest Management for the the operation and commercial management of chemical tankers.The new joint venture, GSB Tankers, will commence operation on January 1, 2019, managing 18 chemical tankers to start, with the aim of managing 30 vessels within the next two years.The joint venture will operate out of the existing premises of Golden-Agri Stena.
New Seafarer Training Center Opens in Phuket
Galileo Maritime Academy has this month announced the completion of its new architect designed professional crew training center and crew residence in Phuket, Thailand.The “T” shaped buildings comprise state-of-the-art training and recreation rooms, a seafarer medical center, a culinary arts and hospitality school, a three meter deep survival training pool and first class accommodation for 30 students.This central complex is located just above Yacht Haven Marina, the largest superyacht marina in Asia…
MSC Adds New Rail Service in Spain
MSC Mediterranean Shipping Company is launching a new rail service to bring agricultural cargoes from Spain closer to the international markets.The transportation and logistics company said that the new service runs will improve links between Seville and Cordoba (Spain) and destinations in the Mediterranean, the Middle East and the Far East, beginning in October 2018. It is expected to run at least twice a week from both Seville’s inland maritime port – Puerto de Sevilla – and Cordoba’s cargo rail terminal and the port of Valencia…
New VEM Technology Leads for Royston
Diesel power specialist Royston said it will showcase new developments for 2018, including Vessel Energy Monitoring (VEM), at the International Workboat Show.VEM technology, which provides information about a vessel’s architecture and energy levels, as well as efficiency improvement recommendations, is part of Royston’s enginei product, which delivers cost savings and operational efficiencies for offshore vessel and workboat operators.The system records fuel consumption data from bunkers and individual engines, with data provided onboard and onshore.
Two VLCCs Join Navig8 VL8 Pool
Navig8 VL8 pool is to take delivery of two VLCCs from Cosco Shipping Energy Transportation (CSET). The VL8 pool is one of the largest VLCC tanker pools in the world managed by Navig8.The 322,860dwt Xin Lian Yang (built 2014) will deliver to the pool later this month, with a second modern unit to be delivered during November."We are extremely excited to have received CSET's commitment and welcome CSET as a partner," said Jason Klopfer, Navig8 managing director.This increases the…
Vessels Separated After Collision off Corsica
Tunisian roll-on/roll-off ferry Ulysse has separated from the Cyprus flagged containership CSL Virginia on Thursday following a collision earlier this week in the Mediterranean Sea.CSL Virginia was at anchor approximately 17 miles off the island of Corsica when it was struck broadside by cargo and passenger ferry Ulysse early Sunday morning. The ferry's bow penetrated the hull of the containership, causing the two vessels to become stuck together and resulting in a major oil spill.No deaths or injuries were reported…
Hurricane FPSO Leaves Dubai After Upgrade, Shetlands First Oil Seen in H1
The Aoka Mizu floating production, storage and offloading (FPSO) vessel ordered by Hurricane Energy has left Dubai following a series of upgrades, the company said, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.Hurricane specializes in recovering oil from fractures in hard and brittle rock known as fractured basement reservoirs, which some see as a risky way to obtain crude.It expects first oil from its Greater Lancaster Area (GLA) project, west of Scotland's Shetland Islands, in the first half of 2019.
Chevron Eyes Houston Ship Channel for 2nd US Gulf Refinery
Chevron Corp wants to build or buy a refinery along the U.S. Gulf Coast to process crude oil from its rapidly growing Permian Basin operations, a senior executive said on Tuesday.The company would like to have refining operations on the Houston Ship Channel, in the western part of the U.S. Gulf, to complement an existing eastern Gulf refinery in Mississippi that makes lubricants and other materials, Pierre Breber, Chevron's head of downstream and chemicals, said."Something on the ship channel side could make a lot of sense for our company…
SMS Completes Fast Ferry Refit in Cherbourg
Ship repairer and marine engineering services provider SMS said it has completed its second major high-speed craft refit in France.SMS, which is based in Southampton in the U.K., has undocked Brittany Ferries’ Normandie Express in Cherbourg on the Ports of Normandy Authority’s (PNA) ship lift. Over a three-week period, SMS undertook the docking on the Rolls-Royce syncrolift in the Port of Cherbourg. The lift is 90m x 32m and offers a 3,000T lift capacity.Located just 75 miles from the Solent…
Yara Marine Has Big Expectations for 2019
Many shipowners are scrambling to comply with the tough, new the International Maritime Organization (IMO) fuel global sulfur limit of 0.50 percent m/m, which takes effect January 1, 2020.It is expected that after the rules swing into force, the light-heavy fuel price spread will likely spike and refining margins will be higher, particularly for complex refineries.Shipowners have to stay ahead of the game, said Yara Marine Technologies CEO Peter Strandberg: “Shipowners often get a bad rap of refusing to adopt new, innovative technologies and processes.
Tug Aground and Partially Submerged on the Mississippi
A harbor tug is aground, partially submerged and taking on water on the Upper Mississippi River near Cairo, Ill.The U.S. Coast Guard said it received a report at 2 p.m. Tuesday stating that the vessel, Totem Kole II, was taking on water at mile marker 59.7. The vessel is grounded at a nearby embankment on the left descending bank of the river.All crewmembers were able to safely disembark the vessel.Coast Guard crews are responding to the incident and an oil spill response organization has deployed containment boom around the vessel to prevent the spread of pollution after an unknown amount of product is reported to have gone into the water.
U.S. East Coast Ports Await Yet Another Storm
Hurricane Michael, now a Category 4 storm, will be the second hurricane in two months to significantly affect ports on the U.S. eastern seaboard. Eastern North Carolina in particular is only now recovering from Florence.The U.S. Coast Guard has set conditions X-Ray for ports in Georgia and South Carolina in preparation for Hurricane Michael. The storm is now expected to make landfall by Wednesday afternoon. While gale force winds are expected within the next 48 hours, these ports can remain open to commercial traffic.
Liquefaction and Lost Bulk Carriers: Is a Design Change Warranted?
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).
Optimism in Multipurpose Shipping: Drewry
Surging growth in renewable energy generation around the world and a construction boom in South East Asia that is expected to run for the next 10 years bode well for the once ailing multipurpose shipping fleet.In the latest edition of Drewry’s Multipurpose Shipping Forecaster report we declare that we remain cautiously optimistic on the outlook for the sector. There are some caveats to this optimism as global general cargo demand is forecast to grow at a rate of just 2% per year to 2022…
Marine Lubricants Market to Reach USD 3.3 Bln by 2024
The global marine lubricants market is anticipated to expand a robust CAGR of 4.17% during the forecasts period 2016 - 2024, says a study.According a recent study done by Transparency Market Research marine lubricants market which was valued US$2.3 bn is predicted to touch US$3.3 bn by the end of assessed period.On the basis of type of product, the global marine lubricants market is segregated into bio-based oil, mineral oil, and synthetic oil. Of these, the demand for mineral oil is high and is likely to remain like this during the forecast period owing to cost benefits that are provided.
Three Balearia Ferries to Convert to LNG
Spain's Baleària will convert three ferries from diesel to LNG dual fuel using Caterpillar and MaK solutions.Incorporating the MaK DF engines will virtually eliminate the sulfur and particulate matter in the exhaust gases, while also cutting down NOx, resulting in even lower CO2 emissions. The three ferries to be converted are Abel Matutes, Bahama Mama, and Martin i Soler, each currently equipped with a pair of MaK 9 M 43 C main engines. After the conversion, the vessels will operate on two MaK 9 M 46 DF engines, which has a rated engine output of 8,685kW.
Ancient Shipwrecks Found in Greek Waters Tell Tale of Trade Routes
Archaeologists in Greece have discovered at least 58 shipwrecks, many laden with antiquities, in what they say may be the largest concentration of ancient wrecks ever found in the Aegean and possibly the whole of the Mediterranean.The wrecks lie in the small island archipelago of Fournoi, in the Eastern Aegean, and span a huge period from ancient Greece right through to the 20th century. Most are dated to the Greek, Roman and Byzantine eras.Although shipwrecks can be seen together in the Aegean…
LNG Report: Floating Liquefaction & Regasification
International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants and floating LNG regasification terminals. The 150+ page study, published by World Energy Reports, is the most detailed analysis yet made of this growing business sector. Project Success EvaluationThe IMA study is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
US Oil Exports to Asia May Slide Further
Rising shipping rates have increased the costs of shipping oil from the United States to Asia and may further the restrict the flow of U.S. oil to the region later this year, multiple trade and shipping sources said on Thursday.Freight rates for tankers that carry crude oil have soared globally, buoyed by peak seasonal demand, weather disruptions and higher bunker fuel costs, the sources said.The cost of chartering a Very Large Crude Carrier (VLCC) capable of carrying 2 million barrels of crude from the U.S.