GE Oil & Gas Awarded Statoilhydro Contract
GE Oil & Gas announced that it has been awarded a five-year contract to deliver Subsea Operations Services (SOS) to StatoilHydro, the Norwegian based oil and gas company. The contract has an estimated value of between $25- $30m per year and will be managed by GE Oil & Gas in Dusavik, Stavanger, Norway. The scope of services to be provided under the agreement relate mainly to the installation and operations phases of StatoilHydro’s subsea fields, including: engineering, procurement, the production of equipment and tools, and electro and mechanical workshop services for corrective and planned maintenance in subsea drilling. Servicing and…
GE Launches VetcoGray SVXT S-Series Subsea Tree
GE Oil & Gas has launched the new VetcoGray S-Series SVXT subsea tree at the Offshore Europe Oil & Gas Conference and Exhibition, being held from 8-11 September 2009 in Aberdeen, Scotland. The new VetcoGray S-Series SVXT subsea tree merges horizontal and vertical tree technology, reducing weight by 20%, decreasing height, and also delivering essential functionality in a pre-engineered, pre-configured 'modular' way. Low-cost installation of the new SVXT is achieved through a design that enables deployment using standard offshore jack-up drilling rigs without the need for major modifications.
Hyundai Samho Heavy Industries Delivers Green VLCC
Hyundai Samho Heavy Industries (HSHI) has completed building a scrubber-equipped Very Large Crude oil Carrier (VLCC), the first of two ships ordered by Greek shipowner Almi Tankers in August 2016, reported the Pulse. The affiliate with South Korea's largest shipbuilder Hyundai Heavy Industries (HHI) said that the VLCC is fitted with an exhaust gas cleaning system that can meet stricter restrictions on sulphur oxide emissions that will come into force in 2020. HSHI on Tuesday held a naming ceremony for the oil tanker. The 310,000-ton VLCC - which is 336 meters long, 60 meters wide, and 30 meters deep - is loaded with various facilities…
Consortium: Blockchain Solution to Improve Ocean Shipping
A consortium comprising AB InBev, Accenture, APL, Kuehne + Nagel and a European customs organization has successfully tested a blockchain solution that can eliminate the need for printed shipping documents and save the freight and logistics industry hundreds of millions of dollars annually. The consortium tested a solution where documents are no longer exchanged physically or digitally but instead, the relevant data is shared and distributed using blockchain technology under single ownership principles determined by the type of information.
Ørbeck-Nilssen Sets Out Transformation of IACS at CMA
Speaking at Shipping 2018, the Connecticut Maritime Association’s (CMA) annual conference, Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime and IACS Chairman, looked at some of the initiatives taken at the International Association of Classification Societies (IACS) that were changing the organization. “It is my duty and honor to encourage the world’s biggest classification societies to pull together to adapt to this rapid pace of change and create a strong foundation for IACS as the leading maritime technical association,” Ørbeck-Nilssen said.
BP Expects 90% Compliance for Marine SOx Emissions Caps
Oil major BP Plc expects more than 90 percent of the world's shipping fleet will comply with new regulations slashing sulfur levels ships are allowed to burn starting 2020, a company executive said on Tuesday. Coming International Maritime Organization (IMO) rules will cut the amount of sulfur emissions that ships worldwide are allowed from 3.5 percent to 0.5 percent by 2020. "Potential non-compliance is a significant issue that the market has been contending with," Jason Breslaw, who leads BP's distillate trading origination across the Americas, said at an industry conference in New Orleans.
India's Oil Imports from Venezuela Hit Lowest in over 5 Years
Indian imports of oil from Venezuela have fallen to their lowest levels in over half a decade, shipping and industry data showed, as a severe economic and political crisis hits crude output in the South American OPEC member. India's oil imports from Venezuela averaged around 300,000 barrels per day (bpd) between November, 2017 and February, 2018, a drop of about 20 percent from the same period a year earlier and the lowest such level since 2012, according to data from shipping sources and industry. The sources declined to be identified as they were not authorised to speak with media.
Construction Begins on Saudi Aramco's Shipyard Joint Venture
Construction work has begun on a joint venture to build a shipyard on Saudi Arabia's eastern coast, oil rig builder Lamprell Plc said in a statement on Friday. The joint venture, International Maritime Industries (IMI), started operations after reaching agreement for a loan from the state-backed Saudi Industrial Development Fund (SIDF), the statement said. The SIDF agreed in principle last year to provide 3.75 billion riyals ($1 billion) in financing for the project. IMI is a partnership between United Arab Emirates-based Lamprell, state oil giant Saudi Aramco, National Shipping Co of Saudi Arabia (Bahri) and South Korea's Hyundai Heavy Industries Co.
Lloyd’s Register Acquires Cyber Security Firm Nettitude
Lloyd’s Register (LR) announced it has acquired cyber security services provider Nettitude. LR, who already provides a range of cyber security services such as certification, compliance, training, audit and security consulting, said the acquisition strengthens its existing portfolio to provide services including penetration testing, information security consulting, managed security services and incident response handling. “This is an important acquisition for Lloyd’s Register to enhance our capability in assuring the increasingly complex supply chains in which we operate…
Global Diving and Salvage VPs Elected to Industry Associations
Two vice presidents working at Seattle based Global Diving and Salvage have been elected to leadership positions at separate industry associations. Daniel Pierson, Vice President of Operations has been re-elected to the Association of Diving Contractors International (ADCI) board for a new three-year term. Global Vice President of Casualty and Emergency Response, David DeVilbiss has been elected as the new American Salvage Association (ASA) Vice President.
WISTA International Appoints Diversity Committee
The Women’s International Shipping and Trading Association (WISTA) is proud to announce the formation of its Diversity Committee. A member-driven project created as a next step after the #METOO campaign, the WISTA Diversity Committee will focus on providing practical solutions to increase opportunities for gender diversity in the maritime industry. The committee works as part of WISTA International’s 2018 theme: The Women Who Move the World. “WISTA has always advocated for increased gender diversity in the maritime industry.
DNV GL JDP for Marine Batteries
Classification society DNV GL has announced the launch of a Joint Development Project (JDP), designed to advance the understanding of the use of lithium-ion batteries in the shipping industry. More than a dozen partners from the entire value chain have joined the initiative, including flag states, research institutions, battery and propulsion suppliers, fire detection and extinguishing system providers, and ship owners, operators and yards. “Including batteries in ships, whether as a hybrid or fully electric system…
Data is the New Oil and Satellites Are the Pipeline
As the shipping industry embraces digitalization, it’s time for a new era of fresh thinking that recognizes the potential of satellite communications in delivering financial, environmental and safety improvements. If shipping awarded a ‘word of the year’ in 2017, digitalization would have been a clear contender. The term has become a mainstay of commentary in maritime media and a key topic of debate at our industry’s conferences and exhibitions. But the reality is that digitalization is more than just a word or catchphrase that’s captured shipping’s attention.
Philippine Officials Trained in Forming Maritime Transport Policy
Officials from various government entities in the Philippines have received training in how to develop a National Maritime Transport Policy (NMPT). The concept is being promoted by International Maritime Organization (IMO) as a good governance practice to guide planning, decision making and legislation in the maritime sector, and as a key driver for a country's sustainable development. The event took place in Manila, Philippines (6-8 March), organised by IMO together with the Philippines Maritime Industry Authority (MARINA) and the World Maritime University (WMU).
Shipping Needs an Attitude Adjustment -Transas Chief
Speaking last week at the 2018 Transas Global Conference in Vancouver, Transas CEO Frank Coles laid out his vision for the maritime industry’s future – from safer, greener and more efficient ships to a world without freight forwarders. As has come to be expected from the Transas CEO, Coles did not hesitate to offer a healthy dose of constructive criticism – particularly in the direction of those he sees as a hindrance to industry-wide progress, be it ship owners and operators, freight forwarders or regulators.
DNV GL Appoints Peter Brun as New Global Offshore Wind Segment Leader
DNV GL, the world’s largest independent energy advisory and certification body, has appointed wind energy professional Peter Brun as Global Offshore Wind Segment Leader. Brun is responsible for stakeholder management, alliance building and promoting offshore wind development throughout the world. Brun brings more than 26 years of experience in the wind energy industry and international diplomacy. His rich and varied expertise in the wind industry, includes holding dual Vice Chairman roles at EWEA (now WindEurope) and Global Wind Energy Council (GWEC) between 2009 to 2013.
European Shipowners on US Steel, Aluminium Tariffs
European shipowners disagree with the US President Trump's decision to impose additional duties on imports of certain steel and aluminium products into the United States. “This protectionist decision of imposing 25% import duties on steel and 10% on aluminium will obviously have a negative impact on transatlantic relations and on global markets”, said Martin Dorsman, ECSA’s Secretary General. “The European Shipping Community is concerned with this development and the potential of full-scale trade war.
Samsung Heavy Industries Delivers Johan Sverdrup Offshore Platform
South Korea's Samsung Heavy Industries (SHI)'s Geoje shipyard has completed a riser platform topside for Statoil's giant Johan Sverdrup development offshore Norway. "SHI successfuly completed the North Sea bound offshore platform within the scheduled delivery date in the original contract," said a statement from the company. SHI revealed that one of the two offshore platform topside modules, worth KRW 1.18 trillion together, left its Geoje shipyard. SHI-built Johan Sverdrup topsides are for a 26,000-ton process platform and a 23,000-ton riser platform.
Connectivity Crucial to Singapore's Role as Maritime Hub
To continue growing the maritime cluster and capturing new opportunities, the Maritime and Port Authority of Singapore (MPA) will strengthen the connectivity and inter-linkages of Singapore’s maritime cluster, build a vibrant innovation ecosystem and develop a future-ready and skilled maritime workforce. MPA will also enhance and top up the Maritime Cluster Fund (MCF) by $100 million in support of our vision for Maritime Singapore to be the Global Maritime Hub for Connectivity, Innovation and Talent.
Chemical Tankers Market to Grow at a CAGR of 4.5% by 2022
The chemical tankers market is projected to grow from USD 26.63 billion in 2017 to USD 33.11 billion by 2022, at a CAGR of 4.5% between 2017 and 2022, said a research report. The flourishing chemical industry and increasing use of water transportation for transferring chemicals from one place to another across the globe are the major driving factors for the growth of the chemical tankers market, said Report Linker. Chemical tankers market includes revenues earned through shipping of chemicals and related products.
Sea Tel 9711 Triband Maritime Antenna System Launched
Satellite 2018 marks the launch of Cobham SATCOM’s Sea Tel 9711 Triband maritime antenna system, which leverages unique technology and capabilities from global communications company Viasat Inc. The Sea Tel 9711 Triband is the world’s first and only 2.4m maritime stabilized antenna capable of delivering full 2.4m gain performance across any C-, Ku-, or Ka-band network to maximize high-speed, high-quality broadband connectivity for high-demand maritime segments, such as Cruise, Energy and Government.
Denmark, Mexico Sign Maritime MoU
Denmark's Minister for Industry, Business and Financial Affairs, Brian Mikkelsen and Mexico’s Secretary of Communications and Transportation, Gerado Ruiz Esparza, have signed a maritime MoU to increase the two countries’ cooperation on maritime topics. Maritime topics such as digitalization and green shipping. The MoU was signed during the visit of the Minister for Industry, Business and Financial Affairs to Mexico. The maritime MoU is part of the strategic partnership agreement that Prime Minister Lars Løkke Rasmussen and the Mexican president signed in April 2017.
Orient Overseas International Turns Black
Orient Overseas International (OOIL) said it reported a profit attributable to equity holders of US$138 million for the year ended 31 December 2017, as compared to the loss of US$219 million for the previous financial year. Earnings per ordinary share in 2017 was US22.0 cents, whereas loss per ordinary share in 2016 was US35.0 cents. The Chairman of OOIL, C C Tung, said, “The economic backdrop for 2017 was more robust than forecasters had expected. Following a decade of low growth, we saw healthier performance in both GDP and trade volumes across most of the world’s major economies.